Friday, October 23
Daily and weekly technical charts signal sustained weakness. A break below the recent swing low of 23,263 could accelerate Nifty’s momentum towards 22,800, while a close above 24,750 may trigger a short-covering rally, according to technical analysts. Maruti, Eicher Motors, Bajaj Finserv, Bajaj Finance, HCL Tech, Bata, Bharti Airtel, Infosys, and Marico have formed bullish patterns, said analysts. 117185169ARPAN SHAH SENIOR RESEARCH ANALYST, MONARCH NETWORTH CAPITALWhere is the Nifty headed this week? The benchmark index traded with negative bias and closed with a bearish candlestick formation on the weekly chart. If the index breaks below the recent swing low of 23,263, momentum will accelerate on the downside and the index will reach the 22,800 level in the coming days. Nifty may witn
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 20% and 78% as per analyst price targets.PNB Housing Fin. BROKERAGE: MORGAN STANLEY Price Target: Rs 1,520 CMP: Rs 855 | Upside: 78% Share price will rise relative to the country’s index over the next 60 days. Significant margin of safety and outsized upside potential in the stock owing to starting point of fundamentals and valuation Likely accelerating loan growth and product mix shift that results in ROA (Return on Assets) expansion and recoveries from past write-offs not priced into current valuationsHyundai Motor BROKERAGE: CLSA Price Target: Rs 2,155 CMP:Rs 1,787 | Upside: 20.6% Initiate coverage with outperform rating as stock trading at attractive valuation multiples versus
Mumbai: The Shapoorji Pallonji (SP) Group that last month started an exercise to raise funds to refinance maturing debt and reduce borrowing costs has increased the target to $3.25 billion from $2.6 billion. The group is looking also to refinance a portion of the debt raised by its Goswami Infratech unit in 2023 from global funds and foreign banks with a view to extend the loan maturity by four additional years, besides paying upcoming maturities and prepay debts owed to Ares and Farallon. According to term sheets circulated among potential investors, the fundraising, managed by Deutsche Bank, is structured as a five-year facility, comprising non-convertible debentures (NCDs) with an expected yield of about 18%. The real estate and construction to financial services group is tapping altern
