Kalshi Inc. has added India to its list of restricted jurisdictions, weeks after the country’s technology ministry warned that prediction market platforms were illegal and moved to curb access to such sites. The change appears in Kalshi’s updated member agreement, dated June 17, which says users domiciled in, organised in or located in India are…
Shares of Vedanta Aluminium Ltd. have received another positive brokerage recommendation after its listing, with CLSA initiating coverage on the demerged entity of the Anil Agarwal conglomerate. CLSA initiated coverage on Vedanta Aluminium on Wednesday, June 24, with an “outperform” rating and a price target of ₹540, which implies an upside potential of 19% from…
Three Indian IT stocks, HCLTech Ltd., Wipro Ltd., and Tata Technologies Ltd., have been downgraded by brokerage firm JPMorgan in its latest note on Wednesday, June 24. The brokerage continues to remain cautious on the sector. Along with the downgrades, JPMorgan has also cut its price targets on these stocks. Stock Rating Previous Rating Price…
Morgan Stanley has initiated coverage on Adani Enterprises Ltd. with an ‘Overweight’ rating and a price target of ₹3,638 per share, implying a potential upside of 23% from current levels. In its note, the brokerage described Adani Enterprises as India’s leading business incubator, offering exposure to several long-term growth themes, including transport infrastructure through airports…
The Indian rupee opened at 94.90 against the US dollar on Wednesday (June 24), weakening by 16 paise from Tuesday’s (June 23’s) close of 94.74/$, as the dollar climbed to its highest level in more than a year amid rising expectations of US Federal Reserve rate hikes and increased safe-haven demand. The rupee’s recent recovery,…
Chauhan further said that being listed provides companies with an additional strategic advantage, as their shares can be used as a currency for acquisitions, partnerships and employee compensation through stock options. He cited Infosys founders N.R. Narayana Murthy and Nandan Nilekani, who introduced employee stock ownership plans (ESOPs) in the company’s early years to attract…
Shares of National Aluminium Company Ltd. (NALCO) were trading lower on Wednesday, June 24, despite a positive view from brokerage firm Antique. Antique has maintained a ‘Buy’ rating on the stock with a target price of ₹463 per share, implying a potential upside of 31% from current levels. The brokerage expects firm aluminium prices and…
Bajaj Healthcare Ltd on Friday (June 26) said it has become the first company in India to secure the Subject Expert Committee (SEC) recommendation for the manufacture and marketing of Cenobamate tablets. The Subject Expert Committee (SEC) of the Central Drugs Standard Control Organisation (CDSCO) has recommended approval for the manufacture and marketing of Cenobamate…
Biocon Ltd. on Wednesday, June 24, said its long-standing partner Duopharma Biotech Berhad, via its wholly-owned subsidiary Duopharma (M) Sendirian Berhad, has secured multiple insulin contracts from Malaysia’s ministry of health. The same are valued at over 225 million Malaysian Ringgit, it said in an exchange filing. As part of these contracts, Biocon’s subsidiary Biocon…
TVS Motor Company has revealed new colours and graphics for the TVS NTORQ 125 Disc and Race Edition models. This most recent update revitalises the TVS NTORQ portfolio ahead of the holiday season. This comes after the debut of the TVS NTORQ 150 and the feature upgrades introduced in the TVS NTORQ Race XP last…
