When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which the stock was traded throughout the day, with the average weighted by trading volume.
Zomato share price: CLSA has reiterated its bullish stance on Zomato, adding the stock to its "High Conviction Overweight" list and raising the target price to Rs 400 from Rs 370, indicating a 64% upside potential. The brokerage sees the recent stock correction as an attractive buying opportunity and expresses strong confidence in the growth prospects of Zomato's quick commerce segment over the next three years.
Hindenburg Research, a forensic financial research firm led by founder Nate Anderson, has been disbanded after completing its pipeline of investigative cases. Known for targeting companies like Nikola Corp and wiping out substantial valuation for Adani, the firm identified accounting irregularities, mismanagement, and fraud.
CEAT shares: CEAT reported a 46.48% decline in consolidated net profit to Rs 97.03 crore for Q3 FY24, due to rising raw material costs. However, revenue grew to Rs 3,299.9 crore, driven by the replacement segment. Analysts maintain a 'Buy' recommendation with a target price of Rs 3,456, indicating a 13% upside.
The Indian market is expected to trade higher on Thursday, supported by positive global cues. India VIX dipped, indicating reduced investor concerns. Derivatives data shows cautious sentiment with key resistance at 23,300 and support at 23,200. Experts recommend a "Buy near support, sell near resistance" strategy. Stocks like BSE, Elecon Engineering, and Power Grid are suggested for short-term trading.
GAIL (India) Ltd finalizes a settlement with SEFE Marketing & Trading Singapore, resulting in a $285 million payment and withdrawal of the arbitration proceedings. GAIL's Q2 profit increases by 11% YoY to Rs 2,672 crore, with a notable improvement in petrochemicals and gas transmission revenues.
Swiggy's shares rose after the company announced the incorporation of its new subsidiary Swiggy Sports Private Limited, approved by the Ministry of Corporate Affairs. The new entity will engage in sports team ownership, management, and other related activities. Swiggy's share performance showed fluctuations over the past month.
Motilal Oswal Financial Services has recommended a buy on Biocon, targeting a price of Rs 430. The company, a leader in the pharmaceuticals sector, recently reported a quarterly income of Rs 3622.90 crore and a net profit of Rs 27.10 crore. Anticipated growth in biologics sales and operational improvements are key rationales behind this recommendation.
Sugar stocks will be in focus as India is set to achieve its 20% ethanol blending target within two months. Union Minister Nitin Gadkari highlighted that the initiative will reduce pollution and India's dependence on oil imports. E20 use significantly decreases carbon monoxide emissions in vehicles.
LTTS Share Price: L&T Technology Services reported a 4% YoY drop in consolidated net profit for Q3FY24, while revenue rose 9%. The company secured eight large deals, including a $50 million agreement. Analysts have mixed views, with Macquarie maintaining an 'Underperform' rating, and Nuvama suggesting a 'Hold' rating, noting record-high deal wins but lower margin guidance post-Intelliswift acquisition.
Despite the volatile market, Sensex and Nifty have delivered 8% - 10% returns in 2024. While the market outlook for 2025 seems volatile in the short term, it is expected to generate good returns by the end of 2025.
Donald Trump's presidency could cause volatility for Indian sectors facing tariffs, but long-term geopolitical positioning favors India. Mixed Q3 earnings are expected, with IT and Pharma likely performing well. Lower large-cap valuations and targeted fiscal measures could boost the economy, focusing on consumption and investment continuity.
Early stage VC firms 1Crowd, VC Grid, 7th Gen Ventures, and environmental advocate Trudie Styler, among others, participated. The funds will be used for expanding manufacturing, optimising the supply chain, and expanding the team.
BNP Paribas Securities has a neutral call on Tech Mahindra with a target price of Rs 1485. Tech Mahindra's significant turnaround potential is highlighted due to a new CEO aiming for higher revenue growth and improved margins. Risks include project stoppages, reduced tech spending by customers, and economic decline. Promoters hold a 35.03% stake, and FIIs own 23.66%.
Sunil Subramaniam believes the upcoming Budget will boost consumption and is optimistic about the savings and investment segment rallying within the banking and financial services industry. The RBI policy on February 6 will also be significant in shaping investment decisions. Post-Budget, financial services and capital market infrastructure are expected to lead the market rally.
Bollywood actor Saif Ali Khan was hospitalized after an intruder with a knife attacked him at his Bandra residence in Mumbai. The incident happened around midnight, and Khan was injured during a scuffle with the unidentified attacker. Bandra police have launched an investigation following the incident.
Odisha Chief Minister Mohan Charan Majhi announced a social security allowance increased to Rs 3,500 under Madhubabu Bhatta Yojana and the National Security Program. An MoU for implementing Ayushman Bharat in the state was signed, which aims to benefit 1.3 crore people in Odisha.
Adani Group stocks surged on January 16 after the disbandment of Hindenburg Research, which had previously caused significant financial losses to Gautam Adani's business interests. Adani Green Energy stock led with an 8.8% increase. Nate Anderson of Hindenburg cited personal reasons for closing the firm, aiming for a more balanced life moving forward.
Oyo Hotels' decision to ban unmarried couples in Meerut, influenced by societal complaints and political pressures, highlights the challenges companies face in navigating India's social divisions. This move could undermine the brand's original promise of accessible private spaces for young people and complicates their nationwide operations.
RVNL shares Rail Vikas Nigam Ltd (RVNL) has received a Letter of Acceptance from BSNL for developing, upgrading, and maintaining BharatNet's middle-mile network under a Design-Build-Operate-Maintain model. The Rs 3,622.14 crore contract includes a 10-year maintenance phase. RVNL reported a 27% YoY drop in Q2 FY25 profit, while its stock has declined 41% in the last six months.
Delhi and neighboring areas received overnight rain, and the India Meteorological Department forecasts rain and thunderstorms till Sunday. Dense fog is causing delayed train services. Air quality is severe with AQI levels above 400 in several areas. The central government re-imposed GRAP IV restrictions in Delhi-NCR due to poor air quality.