Wednesday, September 23
The Gurugram housing market is witnessing high demand from end-users as well as investors and there is no undue "speculation", Signature Global Chairman Pradeep Kumar Aggarwal said on Friday. He asserted that there was no "bubble" in the Gurugram housing market and also ruled out any price crash. However, Aggarwal said the pace of growth in average housing prices will now moderate at 8-10 per cent. The weighted average prices have appreciated by more than 100 per cent since 2020, he pointed out. "There is no speculation and bubble in the Gurugram residential market. There is a genuine demand from end-users and investors," he told reporters on the sidelines of an event organised by Assocham and CBRE. He was replying to a query related to concerns about possible crash in housing demand and p
Suzlon Energy’s meteoric 1,300% surge from Rs 6 three years ago to its 52-week high of Rs 86 in September (NSE) marked a stellar run. However, the rally has since hit a consolidation phase. Despite still delivering a staggering 980% return at current levels, the stock’s muted performance over the past 10 months signals growing fatigue among the bulls. We explore what it will take to reignite momentum and power the next leg of the rally.The stock hit its 52-week low of Rs 46 in April this year and has since rebounded to around Rs 66, but it still trades 23% below its September peak.Suzlon’s massive rally is now showing signs of fatigue as in the last six months, the stock has navigated a phase of consolidation, Om Ghawalkar, Market Analyst, Share.Market. Ghawalkar said that its RSI al
ET Intelligence Group: Tata Consultancy Services (TCS) failed to keep pace with analysts' expectations in its June quarter performance, largely on account of a higher than anticipated ramp-down in the BSNL deal. The country's largest software exporter though showed faster-than-expected sequential growth in net profit which was largely driven by a one-time gain. A moderate sequential improvement in the operating margin (EBIT margin), too, was driven mostly by cost control measures and cross currency benefits rather than business traction.The company continued to face delays in project ramp-ups as clients showed higher sensitivity to return on investments (RoI), deferring projects that lacked clarity on future returns. Despite the lacklustre first quarter show, the TCS management has retaine
Mumbai: Defence stocks dropped on Thursday as investors reassessed their stretched valuations after the recent rebound.The Nifty India Defence Index shed 2% while the benchmark Nifty closed 0.5% lower on Thursday. Out of 18 stocks on the index, 16 declined and two advanced.Bharat Dynamics dropped 4.8% to ₹1,893, leading the Defence Index laggards, after brokerage Motilal Oswal initiated coverage on the stock with a 'neutral' rating and a target price of ₹1,900, which implied a downside of 4.3% over Wednesday's closing price of ₹1,985."We like the business model of BDL and its ability to scale up its revenues and order book in the current scenario; however, with fair valuations, we would look for lower price points to enter the stock," said analysts at Motilal Oswal.122375512Solar Ind
Mumbai: US dollar bonds of London-based Vedanta Resources (VRL), the holding company of metals conglomerate Vedanta, recovered marginally on Thursday, a day after falling as much as 1 to 1.5 points in response to US short-seller Viceroy Research's bearish report that reignited concerns of unsustainable debt.On Thursday, the bonds gained across maturities from 2028 to 2033, according to traders. Analysts said the report failed to offer any new insights to investors and simply reiterated well-known concerns in an aggressive tone.While Viceroy accused the debt-heavy parent of listed Vedanta of operating a "ponzi scheme," claiming it survives by siphoning cash from its "dying host," both JPMorgan and Bank of America pushed back.122375364JPMorgan said in a note after Viceroy published its findi
