Sunday, September 13
Global brokerage Jefferies warns that Tata Motors’ share price could drop to Rs 550, citing a 37–41% year-on-year (YoY) decline in Q1 EBITDA and pre-ex PBT, which also came in 13–22% below its estimates (JEFe).“We cut FY26-28E EPS by 8-15% on lower volumes and margins for JLR and India PVs. We expect a 19% EPS decline in FY26E, followed by just 8% CAGR over FY26-28E. Our FY27-28 EPS estimates are 12-21% below Street. We see multiple above-mentioned challenges across business; and we are unconvinced about the Iveco acquisition (A Risky Detour). TTMT stock has lagged Nifty-50 by 21% since Jan (Downgrade to UNPF), and we retain UNPF with a revised Rs 550 PT (earlier Rs 600). We prefer MM & TVSL in autos,” according to a report by the brokerage.Also Read | How to choose a mutual
Mumbai: Public sector banks in India have stepped up retail lending, outpacing the growth seen in this segment by their private sector peers, who have retreated in the backdrop of an uptick in delinquencies, particularly in unsecured loans.Results for the June quarter show that the growth in retail loans of large public sector banks was almost double that of the private sector lenders. This was on the back of a larger customer pool, lower delinquencies and better pricing power due to higher proportion of retail deposits.State Bank of India (SBI) recorded a 13% year-on-year growth in retail loans, maintaining its fast pace, while Bank of Baroda (BoB) and Punjab National Bank (PNB)--the two other large public sector banks--reported 18% and 12% y-o-y growth, respectively.In comparison, ICICI
India on Monday added more jute products to the list of banned imports from Bangladesh through all land routes, amid strained relations between the two countries. The products added in the list are bleached and unbleached woven fabrics of Jute or of other textile bast fibre; twine, cordage, rope of jute; and sacks and bags of jute. However, according to a notification of the Directorate General of Foreign Trade (DGFT), these imports are allowed through the Nhava Sheva Seaport. "Imports from Bangladesh shall not be allowed from any land port on the India-Bangladesh Border," it said, adding, "Import of certain goods from Bangladesh to India is regulated with immediate effect." Earlier on June 27, India prohibited imports of a number of jute products and woven fabrics from Bangladesh through
