Stock Market LIVE Updates | GIFT Nifty signals positive start for Indian markets; Asian markets rise

May 16, 2024
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Sensex Today | Stock Market LIVE Updates: Broader indices outperformed frontline indices, while Nifty IT and Nifty Metal indices were the top sectoral gainers

May 16, 2024 / 10:50 am IST

  • Stock Market LIVE Updates: Sensex down 150 pts, Nifty at 22150; IT stocks rise, banks, auto stocks struggle

    The GIFT Nifty trends suggest a positive opening for the broader index in India

    Moneycontrol.com

  • May 16, 2024 / 10:49 AM IST

    Stock Market LIVE Updates | Nifty Auto up 1.5% to 980 points

  • May 16, 2024 / 10:42 AM IST

    Stock Market LIVE Updates | Oberoi Realty hits record high, gains for fifth consecutive day

  • May 16, 2024 / 10:32 AM IST

    Stock Market LIVE Updates | Somany Ceramics surges 14% on robust Q4 earnings

    JM Financial has maintained buy rating on the stock and increased its target price by 51 percent to Rs 950 a share. Somany Ceramics’ revenue for 4QFY24 met expectations, while lower-than-anticipated expenses resulted in a 5% EBITDA beat. Tile revenue grew 5% YoY (+18% QoQ, +4% 5-year CAGR) due to a 7% YoY volume growth (+20% QoQ, +4% 5-year CAGR), though realizations dropped by 2% YoY (-1% QoQ) due to increased discounts. Tile demand remained weak in 4Q and continued to be impacted in 1QFY25 due to seasonal factors. Blended gas costs decreased by 6% YoY to INR 47/scm, contributing to a 180bps YoY/110bps QoQ expansion in EBITDA margin to 10.8%. Somany expects a recovery from 2QFY25, forecasting low double-digit volume growth in FY25 with a 100-150bps improvement in operating margins, assuming stable gas prices. JM Financial maintains its FY25-26 EPS estimates.

  • May 16, 2024 / 10:21 AM IST

    Stock Market LIVE Updates | Dixon Tech surges 3%: Q4 profit soars 20% YoY to Rs 97 Crore

  • May 16, 2024 / 10:14 AM IST

    Stock Market LIVE Updates | Apollo Tyres up 6%; Nomura upgrades to Neutral

    Nomura has upgraded Apollo Tyres to Neutral and increased target price to Rs 512 a share from Rs 474 a share. Nomura projects Apollo Tyre’s shift towards profitability will drive around 6% revenue growth from FY24-26F, supported by export recovery. Price hikes and product mix improvements will maintain margins, but rising costs (commodity, EPR) may normalize margins to around 3% EBITDA growth over the same period. Strong FCF of Rs 23-25 billion in FY25/26F is expected due to low capex. Nomura maintains a 6.5x EV/EBITDA target and increases the TP to Rs512. Despite a 14% stock decline in the last two months, its current valuation at ~6.5x FY26F EV/EBITDA appears reasonable, given an expected healthy FCF yield of 8-9% in FY25/26F.

  • May 16, 2024 / 10:05 AM IST

    Stock Market LIVE Updates | Medi Assist up 1.5%; Q4 profit spikes 51% YoY to Rs 25.7 crore with healthy topline

  • May 16, 2024 / 09:59 AM IST

    Stock Market LIVE Updates | Nifty IT Index gains over 1% to 33490 poiints

  • May 16, 2024 / 09:53 AM IST

    Stock Market LIVE Updates | Jindal Stainless stock down over 1%; Q4 profit plunges 35% YoY to Rs 501 crore with lower topline

  • May 16, 2024 / 09:45 AM IST

    Stock Market LIVE Updates | Bharat Electronics has 4.21 million shares traded in multiple block deals: Bloomberg

  • May 16, 2024 / 09:39 AM IST

    Stock Market LIVE Updates | CG Power has 5.98 mln shares traded in a bunch: Bloomberg

  • May 16, 2024 / 09:35 AM IST

    Stock Market LIVE Updates | Titagarh Rail Systems soars 9% on robust Q4 results

    #1Revenue up 8 percent YoYto Rs 1,052.4 crorein Q4FY24

    #2Net profit up 63.7 percent YoYto Rs 78.9 crorein Q4FY24

  • May 16, 2024 / 09:32 AM IST

    Stock Market LIVE Updates | IEX gains over 2% on strong Q4 results

    #1Revenue up 19 percent YoY to Rs 2,441 crorein Q4FY24

    #2Net profit up 62 percent YoYto Rs 477 crorein Q4FY24

    #3Board approved final dividend of Rs 1.50 per share

  • May 16, 2024 / 09:27 AM IST

    Stock Market LIVE Updates | Bharti Airtel top Nifty gainer as brokerages upgrade target prices

    #1The positivity surrounding the teleco was underpinned by the imminent tariff hikes

    #2 Nuvama Institutional Equitiesraisesprice target on Bharti Airtel to Rs 1,600 from Ra 1,580

    #3Motilal Oswal sees25 percent upside on Bharti Airtel after hikingtarget price to Rs 1,640

    #4Nomura also increased its target prices on Bharti Airtel to Rs 1,550

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