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Updated: 2 hours 54 min ago

BJP's Central Election Committee to meet today

March 11, 2024 - 11:38am
Categories: Business News

Cong moves HC against ITAT order, hearing today

March 11, 2024 - 10:57am
Categories: Business News

More money likely in broader mkt: Sanjiv Bhasin

March 11, 2024 - 10:22am
Categories: Business News

How parched Rajasthan is solving its water woes

March 11, 2024 - 10:13am
Categories: Business News

Hot Stocks: Brokerages view on SBI, Voltas, Zomato, Maruti and HDFC Bank

March 11, 2024 - 10:05am
Brokerage firm CLSA maintained an outperform rating on Maruti Suzuki and downgraded HDFC Bank to outperform. Morgan Stanley maintained an overweight rating on Zomato and upgraded Voltas to Equal Weight. Bernstein downgraded SBI.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:CLSA on Maruti Suzuki: Outperform| Target Rs 12,890CLSA maintained an outperform rating on Maruti Suzuki India but raised the target price to Rs 1,2890 from Rs 1,1314 earlier.The PV segment is likely to revive in FY26. The share of CNG vehicles is likely to rise. Maruti’s market share is likely to increase.The stock is inexpensive and is trading below its 10-year average multiples which is a positive sign for the bulls.CLSA on HDFC Bank: Outperform| Target Rs 1,650CLSA downgraded HDFC Bank to outperform from a buy earlier and slashed the target price to Rs 1,650 from Rs 2,025 earlier.The private sector bank faces twin challenges on deposits - A high ask rate and a tough environment.Improving yields offset by muted CASA accretion to keep NIM recovery gradual. The global investment bank slashed earnings per share (EPS) estimates due to lower loan growth and cut the FY25 loan growth estimate to 10% vs 15% earlier.Think the net interest margin (NIM) recovery will be more 'U-shaped' than 'V-shaped'. It slashed FY25/26 EPS estimates by 5%.Morgan Stanley on Zomato: Overweight| Target Rs 180Morgan Stanley maintained an overweight rating on Zomato with a target price of Rs 180. Media reports suggest that Flipkart is planning to launch its quick commerce offering as early as May 2024 in select locations.Media reports suggest that Zepto launched new subscription plans to increase the pace of customer acquisition and improve retention.The global investment bank views these potential developments as increasing the relevance of the quick commerce market.These developments validate that the quick commerce model is working well, and the projected adjusted EBITDA break-even for Blinkit in Q1FY25.“Believe this market could remain relatively more competitive than food delivery. It is still in the nascent stage and competitors are well funded in the near term,” said the note.Morgan Stanley on Voltas: Equal-Weight| Target Rs 1160Morgan Stanley upgraded Voltas to Equal-Weight from underweight earlier and has also raised the target price to Rs 1160 from Rs 737 earlier.Harsh summer to drive growth; competition remains elevated. IMD expects most parts of India to experience above-normal maximum temperatures this summer.This will drive stronger AC demand. Margins may not improve as competitive intensity remains elevated.Bernstein on SBI: Target Rs 780Bernstein downgraded SBI but raised the target price to Rs 780 from Rs 710 earlier.Bernstein sees several factors that would drive Public Sector Banks underperformance vs Private Banks.The era of PSBs' superior earnings growth is set to end. There is lower liquidity headroom, and weaker deposit growth is likely to continue.PSB's aggressive pricing limits earnings growth. The valuation gap has narrowed significantly. Downgrade SBI given the limited upside from here.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

Indians seek brighter prospects at US unis

March 11, 2024 - 10:04am
As India’s booming youth population outpaces the growth of its education system, historic numbers of students are turning abroad for higher education.Pranay Karkale is spending years of savings and $60,000 in student loans to pursue a master’s degree in the United States, yet he considers himself lucky. At home in India, it’s common to hear about families selling off their land to send children to universities overseas.Karkale was willing to do whatever it took once he got into Johns Hopkins University. A degree from a prestigious U.S. college, he believed, would open doors to a better job and higher pay than he would find in India.“I don’t feel like I would have gotten the same level of education that I get here,” said Karkale, 23.Historic numbers of students from India are studying at foreign universities as a fast-growing, aspirational generation of young people looks for opportunities they can't find at home. India estimates 1.5 million students are studying at universities elsewhere — an eightfold increase since 2012 — with no country attracting more than the U.S.It represents a loss for India, with many students seeing universities as stepping stones for careers overseas, but a boon for American schools. As record-setting enrollment by students from China has ebbed, U.S. universities have turned to India as a new source of full-price tuition payments.India’s economy is growing, but joblessness remains persistent even for college graduates. Jobs are being created in fields such as construction and agriculture, but they don’t meet the demands of a newly educated workforce, said Rosa Abraham, an economist at the Azim Premji University.“I think many young people today feel like the economy isn’t meeting their potential, their aspirations, and so they want to try their chances abroad if they can,” she said.India's own higher education system is also short on capacity. As its population surges, competition for admission to India's top universities has become frenzied. Acceptance rates at some elite Indian universities have fallen as low as 0.2%, compared to 3% at Harvard University and 4% at the Massachusetts Institute of Technology.Lokesh Sangabattula, who is pursuing a Ph.D. in materials science at MIT, is among many hoping to land jobs inside the U.S. There’s little demand for materials scientists in India, he said, and at best he figures he could become a professor. It’s a similar story for engineers, which India generates in huge numbers without the industry to employ them.“We produce engineers whose degrees don’t have value, so people leave the country,” he said.Universities in Canada, Australia and the United Kingdom also are seeing surging interest, but none more than the U.S., where universities enroll nearly 269,000 students from India. With that number soaring, including a 35% increase in the 2022-23 academic year, India is on the verge of replacing China as the largest international presence on U.S. college campuses.The vast majority are coming for graduate programs, often in science, math and engineering — fields that have faced persistent labor shortages in the U.S. — though undergraduate numbers also are rising as India’s middle class expands. One selling point is the chance to work in America for up to three years after graduating, a benefit provided by the U.S. government and known as optional practical training.For Karkale, staying in India never felt like an option. As an undergraduate in India, he became interested in engineering management, which merges engineering and leadership skills. It’s a growing industry in the U.S. and Europe, but Karkale, who is from the western Indian state of Maharashtra, couldn’t find any master’s programs in India.At Hopkins, he’s gaining professional work experience arranged by the school, a rarity at Indian universities, he said. Ultimately he wants to return to India, but the most appealing jobs are elsewhere. After graduating, he plans to work in the U.S. for at least a year or two.If he could find the right job in India, he added, “I would hop right back.”The surge has helped the bottom line of American colleges, which charge international students higher tuition rates. It comes as many Americans sour on higher education, citing concerns about student debt and the perception of liberal bias at universities. The number of students coming from China has been declining as a result of chilly political ties and a stagnant Chinese economy.In India, American universities have become a common presence at college fairs. Many are spending big to gain name recognition in India, and they are fanning farther across the country to recruit in smaller cities and towns, where demand to study abroad has been rising.Still, for the vast majority of India's young people, an overseas education remains out of reach. The cost of a U.S. education is a fortune for most, and Indian banks have scaled back on student loans in response to high default rates.Even for those who can afford it, the student visa process presents roadblocks. At the U.S. embassy in New Delhi, student applicants are routinely turned away.On a recent Friday, Daisy Cheema slumped her shoulders and sighed as she left the embassy. She spent weeks preparing for a visa interview after getting accepted to Westcliff University, a for-profit college in California. She hired an agency to help, but her visa was rejected with no reason provided; she just received a slip of paper saying she could reapply.Cheema, 22, hoped to gain work experience in the U.S. before returning to India to support her family. Her parents, who own a gas station in the northern Indian state of Punjab, were going to pay with their savings.“I feel terrible right now,” said Cheema, holding back tears. “But I will prepare more and try again. I’m not giving up.”America's shift toward Indian students is visible on campuses like the University of Texas, Dallas, where enrollment from China fell from about 1,200 to 400 over the past four years. Meantime, enrollment from India grew from about 3,000 to 4,400.Rajarshi Boggarapu came to the U.S. to get a master's degree in business analytics and chose UT-Dallas in part because of its large Indian population. He borrowed $40,000 for tuition, which he sees as an investment in his future.“We value education more than anything else back in India,” he said.Like many U.S. universities, Johns Hopkins is deepening ties with India. It has hosted Indian diplomats to discuss health and engineering partnerships and is part of a new task force formed by the Association of American Universities to promote exchange with India.Before he came to the U.S., Karkale had concerns about the political climate, but the campus made him feel welcome. When he couldn’t return home for Diwali, the Hindu festival of lights, he was surprised to find a campus celebration that drew hundreds of students and staff.In a campus gym adorned with colorful flowers and lamps, Karkale watched as student groups performed dances to a mix of new and old Indian music. There was a Hindu prayer ceremony. And when the dance floor opened up, Karkale joined in."It was a memorable evening," he said. “It made me feel right at home.”106531654
Categories: Business News

JNU Students' Union Election: March 22

March 11, 2024 - 10:00am
Categories: Business News

Consistent winners! 7 smallcap stocks that have consistently performed in last 5 months

March 11, 2024 - 9:39am
Stock market returns are typically lumpy as prices do not move in a straight line but at least seven smallcap stocks have given double-digit returns in each of the last 5 months.Over the past five months, the benchmark index Sensex has witnessed an impressive surge of more than 12%, setting the stage for robust growth in the equity market. A closer look reveals that 90 stocks listed on the BSE with a market cap over Rs 500 crore have experienced gains exceeding 100%, showcasing the dynamism of the Indian stock market. Among the high-performing stocks, seven smallcaps have stood out by consistently recording monthly gains of 10% each over the same period, shows data pulled from ACE Equity.What makes this surge even more intriguing is that many of these stocks have demonstrated remarkable performance despite exhibiting low trading volumes.Topping the list is Diamond Power Infrastructure, the shares of which have rallied 777% in the last 5 months. The smallcap more than doubled in October and has given at least 40% return in all the next 4 months.Similarly, Tine Agro is up 677%, Dolphin Offshore Enterprises (India) 661%, Cupid 480%, Newtime Infrastructure 307%, Algoquant Fintech 140% while IL&FS Engineering has also doubled in just 5 months.These staggering returns indicate a bullish market sentiment and underscore the resilience of certain stocks in the face of economic uncertainties. Market experts believe that factors such as robust corporate performances, positive economic indicators, and increased investor confidence have contributed to this impressive rally.However, analysts caution investors to remain vigilant, considering the potential risks associated with high-performing stocks and the volatility that can accompany such rapid market movements.The unfiltered rally in smallcap space, which had recently caught Sebi's attention, is now showing signs of slowing down.Nifty Smallcap250 Index has formed Doji candle in monthly timeframe and an MACD break in the weekly time frame indicating more weakness, with 74% stocks in Smallcap250 index seeing negative weekly closing last week."The number of stocks that remained above 100DMA fell to 59% from 79% and those that remained above 50DMA fell from 82% last week to 40% this week. In the case of Nifty100 stocks, 19% of the stocks have closed above weekly high and those that closed below weekly low fell to 1% from 7% last week which are pointing towards a shift towards Largecaps and Large midcaps. In other words, those who are used to aggressive bets on the smaller caps, should recalibrate their stance and acknowledge that tailwind from institutional buying may be missing," Anand James, Chief Market Strategist, Geojit Financial Services, said.This trend is likely to continue since valuation in the broader market remains highly elevated and the regulator has sent a clear message regarding the froth in the segment by asking mutual funds to give more disclosures to protect investor interest in small and midcap schemes.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Categories: Business News

F&O stocks to buy today: Tata Steel, Trent among top 9 trading ideas

March 11, 2024 - 9:33am
Indian market is expected to trade higher on Monday tracking positive global cues.The Nifty future closed negative with losses of 0.24% at 22538 levels on Thursday. India VIX was down by 4.77% from 14.30 to 13.61 levels.Positive setup was seen in stocks like Tata Chemicals, Tata Power, Tata Steel, OFSS, Glenmark, HAL, Tata Consumer, Bajaj Auto, Indian Hotels, Trent, BEL, Tata Motors, Zydus Life and SRF.On the options front, the maximum Call OI is placed at 22500 and then towards 23000 strikes while the maximum Put OI is placed at 22500 and then towards 22300 strikes.Minor Call writing is seen at 22600 and then towards 22700 strikes while Put writing is seen at 22500 and then towards 22400 strikes.“Options data suggests a broader trading range in between 22000 to 23000 zones while an immediate trading range in between 22200 to 22600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Doji sort of candle on the daily frame on Thursday and a Bullish candle on the weekly frame with the longer lower shadow which indicates that declines are being bought,” he said.“Now the index has to hold above 22400 zones, for an up move towards 226500 then 22750 zones whereas supports are placed at 22350 then 22222 zones,” recommended Taparia.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Sagar Doshi, Technical Analyst, Research, Nuvama Wealth told ETBureauIndian Hotels: Buy| Target Rs 630| Stop Loss Rs 567Trent Ltd: Buy| Target Rs 4230| Stop Loss Rs 3813.50Tata Steel: Buy| Target Rs 168.50| Stop Loss Rs 151.50Expert: Kunal Bothra, Market Expert told ETNowICICI Prudential: Buy| Target Rs 610| Stop Loss Rs 566Tata Steel: Buy| Target Rs 164| Stop Loss Rs 153Graphite India: Buy| Target Rs 660| Stop Loss Rs 616Expert: Nooresh Merani, an independent technical analyst told ETNowContainer Corp: Buy| Target Rs 1100| Stop Loss Rs 950Tata Steel: Buy| Target Rs 175| Stop Loss Rs 153PVR Inox: Buy| Target Rs 1550| Stop Loss Rs 1390(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

PM Modi to witness Namo Drone demo

March 11, 2024 - 9:19am
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Why this fund manager backs long-term holding

March 11, 2024 - 9:11am
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