Category: Stocks

Buy Bata, Escorts, DCB Bank; Sell Bharti Airtel, CESC, says Sudarshan Sukhani

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The latest analysis and commentary by stock market guru Sudarshan Sukhani of s2analytics.com on what is moving the markets today.

Check out his top stock recommendations.

• Bata has finished a minor correction, and is on the way up. It could make lifetime highs again. It is a buy for the day and can be carried as well.
• Escorts has been outperforming. So Escorts is a buy.
• DCB Bank has been making a trading range and that converted itself into a bullish head and shoulder. There is probably a significant rally coming in.
• Bharti Airtel is intraday short sell.
• CESC is encountering resistance, so sell into what could be resistance.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Markets inch higher, Lemon Tree lists at Rs 60 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets are inching higher with the indices coming above their safe levels. The BSE Sensex is trading at 33,744 points and the NSE Nifty is trading at 10,372 points.

The Nifty Bank moved 100 points higher right after the opening bell. The ICICI Bank dragged the Nifty by 7 points as it was down 2% and was among the top index losers.

The BSE Sensex opened in the 33,600 range at 33,653 points and the Nifty opened in the 10,300 range at 10,334 points. The flat opening came amid weak global cues.

Major indices in US fell on Friday with a bulk of losses coming in from NY afternoon, going right into the close.

S&P was trading negative falling by 2.19%, while Dow was down by 2.28%. Nasdaq also fell by 2.28%.

The fall was reportedly caused by an article in The Global Times saying China won’t submit to U.S. trade intimidation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lemon Tree opens 10% higher on first day of trading

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Lemon Tree Hotels made a stable debut on Monday, with its shares listing at Rs 61.60 a share, a 10% premium to its issue price of Rs 56 a share on the bourses. The listing premium gave Lemon Tree Hotels a market capitalisation of about Rs 4,800 crore.

The issue was subscribed 1.19 times with retail subscription coming in at a disappointing 12 per cent. The Rs 1,038 crore issue was primarily an offer for sale and had prominent investors such as Warburg Pincus and RJ Corp making a partial exit.

Lemon Tree is one of the largest hotel chains in India in the mid-price segment and has outlined an ambitious expansion plan, looking to add a little over 3,000 hotel rooms to its portfolio by 2021.

The hospitality chain, promoted by Patanjali Keswani, believes that it has the advantage to charge higher tariffs to consumers owing to high demand. With occupancy rates as high as 70-75 percent, Lemon Tree spiked tariffs by 14 percent in September 2017.

Strong Revenue Growth

Revenues, growing at a CAGR of 18 percent, are expected to be driven by a combination of tariff increase as well as the addition of new properties in India. The company has about 25 new hotels in the pipeline.

Lemon Tree also turned PAT positive at the end of the December 2017. The company says that it has been cash profitable for many years.

Debt Poses Risk

As the company looks at increasing capacity at 20 percent a year, analysts say a vital concern is mounting debt. Lemon Tree has a debt of about Rs 1,000 crore and said it is working to reduce it.

With increasing focus towards the asset light strategy and management contracts model, Lemon Tree Hotels expects to be debt free very soon. It is looking to take its direct and indirect ownership of hotels to 50 percent by 2021. It is also looking at current assets and seeing how it can recycle the capital in some form.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here are the 8 things you should know before the opening bell

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets are likely to remain weak today due to weak global cues. Here is a list of what you should know.

> Global trade war fears persist with the global markets jumping from a weak to volatile performance. The developments in the trade war remain uncertain, hence leading the markets to perform weakly.

>The US markets’ benchmark index Dow Jones plunged more than 500 points. All the other indices of the US market also remained in the red after the job data numbers.

>The Asian markets showed a mixed trade with Japan’s Nikkei and Korea’s Kospi gaining over 0.5% and Straits Times losing 0.21%.

>Singapore’s SGX Nifty show a fall of 35.5 points or 0.34%, indicating a weak opening for the Indian markets today.

> Corporate earnings for the fourth quarter are lined up this week.

> Lemon Tree Hotels is set to make its debut in the exchanges today after its successful IPO subscription numbers.

>The central bank has raised its debt investment limits for the foreign portfolio investors (FPIs) to across all segments. This will, in total, cumulatively result in an increase of over Rs 1 trillion this financial year.

>The Directors of ICICI Board are likely to meet this week regarding the future of Chanda Kochhar, the Managing Director and CEO of the bank.

Check out the top ten stocks here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here are the top 10 stocks to watch out for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Global markets remain in the red as trade war fears persist. Amid the uncertainty of the trade war and in the businesses, CNBC-TV18 suggests you keep a close eye on these top ten stocks today.

Stocks to watch out for-

Titan: The company’s jewellery business saw a mid-teens retail growth in the fourth quarter and its watches division saw a good growth.

NLC: The financial year 2017-18 seemed lucky for the company as it recorded all-time high numbers and it plans to commission 1,000 MW capacity projects by July.

NMDC: The financial year production  2018-18 production is up by 4.3% for this firm at 35.5 metric tonnes and the sales are up  1.3% at 36.1 metric tonnes, on a year-on-year basis.

Tata Chemicals: The firm is set to acquire Silica for Rs 123 crore.

Indiabulls Real Estate: The firm is to acquire a constructed commercial building in Gurugram, Haryana.

UltraTech: Binani Industries is likely to move the Supreme Court against the NCLAT order which the apex court will take up today.

Steel companies: The domestic prices remain firm. The EBITDA per tonne may expand.

ICICI Bank: The ICICI Board directors are likely to meet this week to discuss the future of Chanda Kochhar, Managing Director and CEO of the bank.

Shriram Transport: Market analysts are expecting a strong growth for the company in the next six-nine months.

Max India: The firm is in talks to buy 47.5% stake in Max Health.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bull’s Eye: Stock picks for Day 1

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Vijay Chopra of Enoch Advisors, Ruchit Jain of Angel Broking and Vishal Malkan of malkansview.com are battling it out for the strongest portfolio. Here are their picks for day 1 of the week.

Vijay Chopra of Enoch Advisors:

• Buy Pioneer distilleries at current market price of Rs 197.90 with a target of Rs 210 and a stop loss of Rs 185
• Buy Jai Corp at current market price of Rs 159.85 with a target of Rs 170 and a stop loss of Rs 149
• Buy MMTC at current market price of Rs 64.15 with a target of Rs 70 and a stop loss of Rs 59
• Buy Hindustan Copper at current market price of Rs 72.10 with a target of Rs 76.50 and a stop loss of Rs 68.

Ruchit Jain of Angel Broking:

• Buy United Spirits with a stop loss of Rs 2,360, target of Rs 3,450
• Buy Trent with a stop loss of Rs 354, target of Rs 396
• Buy Century Plyboards with a stop loss of Rs 344, target of Rs 376
• Buy NCC with a stop loss of Rs 127, target of Rs 136

Vishal Malkan of malkansview.com:

• Buy Allahabad Bank with a target of Rs 58 and a stop loss of Rs 51.20
• Buy Reliance Communications with a target of Rs 30 and a stop loss of Rs 23.50
• Buy Hexaware with a target of Rs 440 and a stop loss of Rs 390
• Buy Steel Authorities of India Ltd (SAIL) with a target of Rs 84 and a stop loss of Rs 73

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Global markets seen negative amid fears of escalating trade war

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Major indices in US fell on Friday with a bulk of losses coming in from NY afternoon, going right into the close.

S&P was trading negative falling by 2.19%, while Dow was down by 2.28%. Nasdaq also fell by 2.28%.

The fall was reportedly caused by an article in The Global Times saying China won’t submit to U.S. trade intimidation.

Trump on Thursday threatened to slap $100 billion more in tariffs on Chinese imports, while Beijing said it was fully prepared to respond with a “fierce counter strike”.

Fears of a trade war since Trump announced tariffs on steel and aluminium more than a month ago have kept investors on edge over concerns that such protectionist measures would hit global economic growth.

(Inputs from Reuters)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Markets likely to remain volatile amid trade war fears and lackluster corporate earnings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets will be volatile, offering best opportunities for it to enter spaces where growth is going to come in the next one-three years, Vikas Khemani, President and CEO at Edelweiss Securities, said.

The markets closed flat on Friday with a positive bias, amid global trade war fears, with pharma, banks and oil marketing companies helping the indices maintain a tight range.

Khemani said that markets are fragile to newsflow, and though the panic levels seem to have settled down, “there is a sense of heightened volatility due to newsflow, both global and domestic.”

“There is a sort of tug-of-war between the macros and micros. The macros are a bit more worrisome but the micros are getting a bit better and so markets are likely to remain in a range bound but volatile,” he said.

The corporate earning results lined up next week seem to keep the markets in a tight range.

Aditya Narain, Head Research at Edelweiss Securities, said this may not be a bumper quarter in terms of earnings but the trajectory of earnings growth will be comforting at the aggregate level.

Ashwani Gujral, market expert, said although the market has seen a 2% uptick in the last week, it does not mean it’s reaching its previous highs and maybe it will maintain the 10,000-11,000 range.

This year it could trend sideways. “Up to 50% retracement of the entire decline is quite possible,” he said.

On stock and sector specifics, the best pockets to trade are the consumer stocks, which are already making new highs like Titan Company, Jubilant Foodworks, Balkrishna Industries and Piramal Industries, Gujral said.

He predicts IndiGo “to outperform the overall aviation space” and for Shriram Transport, he said it is likely for it to see a further upside up to Rs 1800 or so. “The CV (commercial vehicle) cycle may work for the company,” he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Wall Street slides as US-China trade spat intensifies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Dow Jones Industrial Average fell more than 450 points and the other main indexes slipped on Friday after US President Donald Trump’s latest tariff threat on Chinese imports revived fears of a trade war between the two countries.

Trump on Thursday threatened to slap $100 billion more in tariffs on Chinese imports, while Beijing said it was fully prepared to respond with a “fierce counter strike”.

Fears of a trade war since Trump announced tariffs on steel and aluminium more than a month ago have kept investors on edge over concerns that such protectionist measures would hit global economic growth.

“Markets are absolutely appalled by protectionism,” said Dec Mullarkey, managing director at Sun Life Investment Management based in Wellesley, Massachusetts.

Mullarkey said the markets may tolerate some tit-for-tat, given the strong fundamentals.

“Let’s fast forward to next week, if earnings are strong then markets will take a lot of comfort and that’s the expectation.”

Mixed signals from administration officials also added to the nervousness. Trump’s top economic adviser Larry Kudlow told CNBC he learnt of the new tariffs on Thursday night. He told Bloomberg TV that negotiations had not yet started, but later said on Fox Business that talks are ongoing.

“Clearly the reaction from China to tariffs is clearly the only factor driving the markets today,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin.

The Dow Jones Industrial Average was down 320.42 points, or 1.31%, at 24,184.8. The Dow dropped 456 points at session’s low.

The S&P 500 was down 26.29 points, or 0.99%, at 2,636.55 and the Nasdaq Composite was down 63.26 points, or 0.89%, at 7,013.29.

All 30 Dow components were in the red and each of the 11 major S&P sectors were lower, with the defensive utilities and real estate sectors falling the least.

As on Wednesday, industrials led the decliners. Boeing, the single largest US exporter to China, fell 2.5%. Caterpillar declined 2.8% and Deere dropped about 2.3%.

Chipmakers, which as a group rely on China for about a quarter of their revenue, also declined. The Philadelphia semiconductor index fell 1.2% .

Nonfarm payrolls increased by a fewer-than-expected 103,000 last month, a Labor Department report showed. While the annual growth in average hourly earnings rose to 2.7%, it stayed below the 3-% that economists estimate is needed to lift inflation toward the Federal Reserve’s 2-% target.

“That’s not showing us wage inflation where the Fed would have to step in. This seems to be a natural improvement,” said Sean Lynch, co-head of global equity strategy, Wells Fargo Investment Institute in Omaha, Nebraska.

Declining issues outnumbered advancers by a 2.64-to-1 ratio on the NYSE and a 2.25-to-1 ratio on the Nasdaq.

The S&P index showed two new 52-week highs and one new lows, while the Nasdaq recorded 33 new highs and 37 new lows.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow