Tuesday, October 06
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 16% and 22% as per analyst price targets. BANSAL WIRE INDUSTRIES BROKERAGE: DAM CAPITAL Price Target: Rs 481 CMP: Rs 395 | Upside: 22% Initiate coverage with a buy rating; revenues and profit seen growing 31% and 35% over FY25-27 on a compounded basis India’s largest single-location steel wire plant at Dadri will be fully commissioned by first-half of FY26 Company well placed for its next leg of growth coupled with improving marginsTATA COMMUNICATIONS BROKERAGE: JM FINANCIAL Price Target: Rs 2,000 CMP: Rs 1,715 | Upside: 16.6% Data revenue goal of Rs 280 billion likely with a delay of few quarters in FY28 as against earlier goal of achieving it in FY27 Strategic review of non-core
Mumbai: Indian Oil Corporation called off its bond issue on Wednesday despite receiving an overwhelming response, hoping to get a finer price for its five bonds in the coming days with increased liquidity in the banking system and lower rates, market participants said.The triple A-rated bond issue, with base size of ₹1,000 crore and a greenshoe option to retain an additional ₹2,000 crore, received bids worth ₹9,830 crore.Bids worth ₹3,100 crore were at 6.51%, yet IOC decided to wait for finer pricing. ET has reviewed a copy of the bid book. The five-year government paper closed at 6.11%, implying that the company could have closed the issue at a spread of 50 basis points above the sovereign paper of similar maturity. Corporate bonds are priced at a spread over government bond yield
SBI Mutual Fund has single handedly cut a cheque of Rs 7704 crore ($900 million) to buy 3.6% block of Asian Paints from Reliance Industries Limited, said people in the know. This would arguably be the largest block deal done bilaterally between a seller and a home grown asset manager. The share sale will help the oil-to-telecom conglomerate to monetise a lion's share of its 17-year old investment, with handsome returns.In 2023 GQG Partners and its associates had acquired shares worth Rs 8,700 crore (about $1.1 billion) in Adani Power Ltd. from the promoters. Thus far that has been the largest single buyer-single seller trade in India's stock markets.ET was the first to report on May 14th RIL revived its plans to sell out. The oil-to-telecoms conglomerate had initially engaged Bank of Ameri
