Shares of Wipro Ltd. opened as much as 6% lower on Friday, June 5, as the IT services major’s ₹15,000 crore share buyback entered its record date, marking the company’s largest buyback programme in nearly three years. Investors seeking to participate in the buyback were required to purchase Wipro shares by Thursday, June 4, in…
Shares of e-commerce platform Meesho Ltd. opened lower on Friday, June 5, after global brokerage Macquarie initiated coverage on the stock with an ‘Underperform’ rating and a price target of ₹125 per share. The target price implies a potential downside of about 24% from Thursday’s closing level. The brokerage’s cautious view comes after Meesho shares…
Jefferies has made tweaks to its model portfolio which it disclosed in its latest note on Friday, June 5. The brokerage is of the view that in a rising inflation environment, hard assets sectors like infrastructure assets, including roads, airports, ports, power utilities, hospitals, land banks (real estate developers, REITs) tend to benefit as they…
Shares of Sterlite Technologies Ltd. have seen a 270% rally in just 43 trading sessions, having surged from levels of ₹176 as of closing on March 30, to ₹651 as of closing on Thursday, June 4. During this 43 day period, the stock has closed with losses in just six of them, while the stock…
The Indian rupee opened 8 paise higher at 95.71 against the US dollar on Friday (June 5), compared with its previous close of 95.79, as traders awaited the Reserve Bank of India’s monetary policy decision due later in the day. The domestic currency enters the policy session after falling for three consecutive trading days and…
Indian equities could see a stronger earnings cycle over the next few quarters, with financials, metals and select internet companies emerging as key beneficiaries, according to GV Giri, President and Head of Research – Institutional Equities at IIFL Capital Services. “The biggest upsides will come in financials, lending financials, banks, and NBFCs,” Giri said. While…
Neeraj Seth, Founder and CIO of 3R Investment Management, believes the next few months will be a critical test for global markets. While the artificial intelligence (AI) theme remains intact, elevated valuations, leverage build-up and aggressive growth expectations could pressure sentiment. At the same time, he expects the US private credit market to move through…
The initial public offering (IPO) of CMR Green Technologies, a leading non-ferrous metal recycling company focused on aluminium and zinc die-casting alloys, witnessed strong investor demand on its final day of bidding on Friday, June 5. As of 10:05 am, the IPO had been subscribed 10.6 times, with investors bidding for 24.37 crore shares against…
Shares of Titan Company Ltd. gained on Friday, June 5, as as brokerages are largely positive on the stock after its analyst meet a day prior. While CLSA and HSBC have “outperform” and “buy” ratings on Titan, Jefferies has a “hold” recommendation and see up to 24% upside from its previous close. CLSA The brokerage…
Shares of Bharti Airtel Ltd. declined on Friday, June 5, even as brokerage firm CLSA was positive on the stock. CLSA has an “outperform” rating with a price target of ₹2,310 per share on Bharti Airtel, an upside of nearly 27% from its previous close. It noted that the IPO for the company’s Africa mobile…
