Page 39 - Institutional Equities News Today

The Indian markets are set for another rally, this time driven by largecap stocks going into the general elections scheduled next year, said Jaykrishna Gandhi, Head, Business Development, Institutional Equities, Emkay Global Financial ...

The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 343.48 lakh crore on Monday, amid a rally in equities after the BJP registered victory in assembly polls in three Hindi heartland states. Following the sharp uptick in the market, investors became richer by over Rs 5.81 lakh crore on Monday. The 30-share BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to close at a lifetime high of 68,865.12.

India Business News: BSE-listed companies' market capitalization reaches all-time high of Rs 343.48 lakh crore after BJP's victory in assembly polls, making investors rich

Indias equity gauges Friday towered above shrinking benchmarks in export-focused Asian economies to leap to a record, with higher-than-expected economic growth, softer energy prices and subdued US bond yields drawing both overseas and local funds to domestic risk assets.

Experts believe the trend will continue as Indias economic growth is likely to surprise on the upside while interest rates are expected to be stable, with the policy-influencing price gauge now trending close to the central banks target.

Experts believe the trend will continue as Indias economic growth is likely to surprise on the upside while interest rates are expected to be stable, with the policy-influencing price gauge now trending close to the central banks target.

Aster DM Healthcare: Brokerage Prabhudas Lilladher said adjusted for GCC stake, India business is trading at 19 times and 15 times EV/Ebitda on FY25E and FY26, respectively. This, the brokerage said is at 15-30 per cent discount to listed peers.

Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) have delivered flat returns for investors this year. RIL shares have gained a marginal 0.66% on a year-to-date (YTD) basis against a healthy 10.35% returns by Sensex in 2023.  In the current session, RIL stock was trading flat at Rs 2393.25 against the previous close of Rs 2376.40 on BSE. The stock fell to its 52-week low of Rs 2012.14 on March 20, 2023 and hit a 52 week high of Rs 2635.17 on July 19, 2023.  

Animal movie release: Nuvama said its channel checks indicate strong numbers for ‘Animal’ at Rs 60 crore-plus on Day 1. Moreover, it expects the content slate to pick up over coming months.

CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 238. The CV industry outlook for FY24 is looking strong.