Global News

[ad_1] Nykaa Share Price Today:   The stock of Nykaa fell almost three per cent on Monday, after Macquarie initiated coverage on the cosmetics-to-fashion retailer with an ‘underperform’ rating citing risks to the company’s beauty segment margin. The brokerage has set a target price of Rs 115, signalling a downside of 22% from the current market price of Rs 147.8 per share. Macquarie’s target price for Nykaa is the lowest among brokerages covering the stock. The brokerage firm’s bear case target for Nykaa Rs 70, half the price from the current levels. According to Trendlyne data, FSN E-Commerce Ventures Ltd has an average target of ₹145.00. The consensus estimate represents a downside of 1.56 per cent (negative) from the last price of ₹147.30, it said. According to the brokerage, the beauty etailer faces risks to its beauty unit margin as growth moves to smaller towns, which are mostly offline, and as the competition threat looms. In the fledgling fashion segment, experience from p...

[ad_1] Last Updated: May 03, 2023, 14:50 IST MRF share price jumped nearly 5 per cent to hit a high of Rs 92,850 apiece on the BSE. This comes after the company announced a 1,690 per cent final dividend (Rs 169 per share of the face value of Rs 10) along with the announcement of the March quarter results. MRF on Wednesday reported 86 per cent rise in the consolidated net profit to Rs 313.53 crore in the quarter ending March 31, 2023, as compared to Rs 168.53 crore in the same quarter in 2021-22 (FY22). Its consolidated revenue from operations rose 10 per cent to Rs 5,841.7 crore in Q4FY23 as compared to Rs 5,304.8 crore in Q4FY22. The company had earlier announced two interim dividends of Rs 3 each. The total dividend for the financial year works out to be Rs 175 per share. In FY23, the company’s profit rose 8.4 per cent to Rs 739.52 crore from Rs 681.67 crore in FY22. Total expenses rose roughly 5 per cent in the quarter, slowing from a 23 per cent growth in the first nine months...

[ad_1] Tata Motors Share Price: Shares of Tata Motors Ltd has been downgraded by the brokerage firm UBS from neutral to sell. However, it has raised its twelve-month target price for the company’s shares to Rs 450 from Rs 320 earlier. Meanwhile, Tata Motors’ management remains optimistic about the demand situation for its luxury vehicles, with a pipeline of electrified models on the horizon. UBS conducted an extensive analysis of the global premium electric vehicle (EV) industry with a focus on Jaguar Land Rover (JLR), which constitutes over two-thirds of its sales and EBITDA in fiscal year 2023. The findings reveal that the market is underestimating the risks and vulnerabilities faced by JLR due to the rapid electrification of premium cars. Additionally, Tata’s domestic market share in the automotive industry is nearing its peak due to intensifying competition. UBS said investors are likely overlooking the significant shift in the global premium car market caused by electrificat...

[ad_1] Last Updated: June 27, 2023, 11:53 IST Paytm Stock Price:  Global brokerage Macquarie has downgraded Paytm stock to ‘Neutral’ from ‘Outperform’. This comes just four months after it gave a double upgrade to One 97 Communications, the parent of payments service provider Paytm. Macquarie had double upgraded Paytm in February to outperform from underperform and raised its price target to Rs 800 from Rs 450 earlier. However, despite the downgrade to neutral, Macquarie has maintained its price target for Paytm at Rs 800. While attributing the downgrade to the sharp run-up in share prices in recent months, Macquarie analyst Suresh Ganapathy said China’s Ant Financial could be looking to pare down its 25% stake which could be an overhang. He also sees risks emerging from Jio Financial Services’ (JFS) foray into financial services space. RIL chairman Mukesh Ambani is expected to make announcements related to JFS in the company AGM this year. A sharp run-up that the stock has seen s...

[ad_1] Last Updated: April 20, 2023, 14:24 IST Motilal Oswal Securities said Paytm has reported a healthy traction in growing its gross merchandise value (GMV) at 55 per cent CAGR Suggesting that Paytm’s two-pronged strategy will drive profitability, the brokerage noted that Paytm achieved breakeven in adjusted Ebitda Paytm shares rose on Thursday after domestic brokerage Motilal Oswal Financial Services initiated coverage on the digital payments firm’s stock with a ‘buy’ rating and a target price of Rs 865 — implying upside potential of 34.2 per cent from its closing price on Wednesday. In last one month, One 97 Communications share price has risen to the tune of 18 per cent in last one month, whereas in YTD time, this fintech stock has shot up to the tune of 24 per cent. Suggesting that Paytm’s two-pronged strategy will drive profitability, the brokerage noted that Paytm achieved breakeven in adjusted Ebitda in the December quarter, well ahead of its guidance. It said that a con...

[ad_1] The cigarettes-to-hotels conglomerate, ITC, has joined the elite group of companies having market valuation of Rs 6 lakh crore. Shares of the company hit a fresh lifetime high of Rs 485.15, gaining 1 per cent on the BSE in the intra-day trade amid heavy volumes. With Rs 6.04-trillion market capitalisation (market cap), ITC now stands at the seventh position in the overall m-cap ranking among the BSE listed companies. Currently, Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Hindustan Unilever, and Infosys have market cap over Rs 6 trillion. The current data shows that the stock price of ITC is Rs 488.3, with a per cent change of 1.97 and a net change of 9.45. This indicates that the stock price has increased by 1.97 per cent and the value has increased by Rs 9.45. Overall, this suggests a positive movement in the stock price of ITC. Thus far in the calendar year 2023, the stock price of ITC has appreciated 46 per cent on continued buying by the forei...

[ad_1] Jefferies has raised its target price for ITC to Rs 530 from Rs 520, indicating a 19 per cent upside from current levels. The upgrade comes on the back of ITC considering an alternate structure for the hotel business. Shares of the cigarettes-to-hotels conglomerate rose over 1 per cent on Wednesday. “ITC Hotels is the second largest listed chain which has been focusing on an ‘asset-right’ strategy. We apply 18x EV/Ebitda multiple pegging at a discount to our fair value for the leader, Indian Hotels at 23x. Accordingly, we raise ITC’s target price," said Jefferies in a report dated June 27. The hotel business has contributed less than 5 per cent to ITC’s revenues and EBIT over the last decade. Meanwhile, it has accounted for over 20 per cent of ITC’s capex in the past. Investors have always been concerned as this guzzling of cash has not generated good returns. The hotel business’ RoCE (return on capital employed) has also been in single digits for most years. The hotel...