Tuesday, October 27
Believing that the current expensive valuations pose a downside risk to Bajaj Housing Finance shares, domestic brokerage firm Kotak Institutional Equities has initiated coverage on the stock with a ‘sell’ rating and a target price of Rs 100.This signals a potential downside of 21% in the stock.“Bajaj Housing Finance trades rich (4.7X book and 39X earnings FY2026E), posing downside risk (21% to our FV of Rs100) and drives our SELL rating,” said the domestic brokerage firm in its report.Kotak Equities expects Bajaj Housing Finance to deliver earnings growth of 25% CAGR (16% EPS CAGR) over FY2024-27E on the back of 24% AUM growth, stable margins, lower operating expenses and inch up in credit costs. Recent capital issuance will offset the pressure on the cost of borrowings, leading to
The shares of Avenue Supermarts, the operator of retail giant DMart, skyrocketed 15% to their day's high of Rs 4,153 on the BSE today, following the announcement of a 17% year-on-year (YoY) increase in standalone revenue for the quarter ended December 31, 2024.The company reported revenue of Rs 15,565.23 crore, up from Rs 13,247.33 crore in the same quarter last year. The company shared these updates on January 2, after the market hours.DMart's total number of stores as of December 31, 2024 stood at 387.The announcement was made after market hours on Thursday as part of a regulatory mandate. Shares of Avenue Supermarts ended Thursday's session at Rs 3,615.30 on the NSE, marking a gain of Rs 54.30 or 1.52% from Wednesday's close. However, over the past 12 months, DMart shares have lagged th
Germany has launched the Consular Services Portal, a global online platform allowing applicants to submit German visa applications digitally. This move, initiated two years ago, marks a significant shift from traditional paperwork to a streamlined digital process across all 167 visa sections of German missions worldwide.The new system accommodates 28 categories of national visas, including those for employment, education, training, and family reunification.Addressing the skilled worker shortageForeign Minister Annalena Baerbock highlighted the importance of this digital transition, saying, "Every year, Germany is short of at least 400,000 skilled workers... We need a national visa process that is state-of-the-art – modern, digital, and secure."Germany, facing a pressing demand for skille
