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RELIANCE INDUSTRIES: JIO SAYS MUKESH AMBANI RESIGNS AS DIRECTOR || JIO NAMES AKASH AMBANI AS CHAIRMAN OF BOARD
ICICI BANK AGM AUG 30
Nomura gives buy call on M&M, says, the new Scorpio-N has potential to incrementally add 10-15% upside to overall FY23-24 SUV volumes
CLSA gives sell rating on Voltas, cuts target To ₹930 from ₹1,000/Sh. Co’s FY22 RoCE/RoE fell to 11%/9.6%, its lowest in a decade
UBS On Bajaj Auto: Reduction in paid-up share cap will be 2.2%, assuming maximum buyback, prefer TVS & Eicher in 2-wheeler space
In-line valuations & risk of high margin export slowdown keeps Morgan Stanley EW on Bajaj Auto. Co will continue to hold a sizeable cash balance post buyback, MS says
MASTEK: CO SAYS WALTHAM FOREST COUNCIL SELECTS ORACLE FUSION CLOUD APPLICATIONS AND EVOSYS, A MASTEK COMPANY TO ENHANCE BUSINESS PROCESSES'
HEADS UP: BAJAJ AUTO BOARD MEET FOR BUY BACK TODAY
MS gives overweight rating on Sun Pharma, says cash flows appear relatively insulated against macroeconomic headwinds
JPMorgan gives overweight rating on Vedanta, says company remains best positioned to play higher LME Zinc prices
CLSA gives outperform rating on Tata Motors, estimates JLR’s overall retail sales to have declined 39% YoY in May 2022
Fitch affirms GAIL (India) at 'BBB-'; outlook stable
SGX nifty indicating a big gap up, up 200 points Dow up 823 points on Friday S&P 500 up 3% on Fri Dow jones up 5.4% last week Nifty up 2% last week FIIs sell 2354cr, DIIs buy 2213cr on friday Nifty holding firm 17th June low of 15183 Big question: have we formed a bottom ?
Jefferies gives buy rating on ICICI Bank, says correction, coupled with high RoA, makes it mmong best risk-reward across banks
CS gives outperform rating on UltraTech Cement, says potential coal/petcoke price pullback & positive cyclical outlook can drive upside
efferies gives buy rating on Dalmia Bharat, says unprecedented increase in input costs a Challenge for profitability
Motilal Oswal gives buy rating on Gujarat Gas, says increased availability of domestic gas will help company reduce its sourcing cost
*WHAT HAPPENED OVERNIGHT* -S&P-500 -0.13%, Nasdaq -0.15% -UST 5y yield -13 bps to 3.23%, 10y -12 bps to 3.16% -Fed Chair Powell underscored key focus at Fed - raising rates fast to tame inflation, even if it comes @ expense of eco & labor market -Brent -2.5% to $111.74/bbl
*Powell On Front-loading, Recession, MBS sales* 1. Front-loading - Powell hints at front loading policy - moving “even more expeditiously than before” - Fed may raise rates above neutral to modestly restrictive - because very high inflation is hurting many people
Jefferies gives buy rating on Reliance Industries, says company could deliver 60% sequential growth in O2C EBITDA in Q1FY23
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