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BROKERAGE RADAR | BofA ON SONA BLW

Posted by Able on May 01, 2024

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• Maintain underperform; hike target price to Rs 625 from Rs 600

• Strong Q: BEV revenues drives the beat

• Order book steady; some speed bumps on non EV biz

• Valuations cap upside

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Stock Market LIVE Updates: Hong Kong stocks notch 9-day winning streak in longest rally since 2018

Hong Kong stocks extended their rally on Friday, supported by ongoing positive market sentiment fueled by China's increased economic stimulus measures. The Hang Seng Index surged by 1.5%, marking its ninth consecutive day of gains, the longest winning streak since January 2018. Hong Kong-listed Chinese tech giants also saw continued gains, closing 2.7% higher.

Big Daddy LIC manages money nearly double the size of Pakistan's economy

After a significant surge in Indian stocks, the total assets under management (AUM) of the state-owned insurance giant LIC have surpassed the Rs 50 lakh crore milestone, nearly doubling the size of neighboring Pakistan's GDP.

NSE cautions investors against entity offering guaranteed returns

The National Stock Exchange (NSE) on Friday cautioned investors against an entity offering guaranteed returns on investment in the stock market. The statement came after the exchange noticed that an authorised person of its registered stock broker was offering guaranteed returns and was collecting commission on such assured returns from investors.

BROKERAGE RADAR | BofA ON SONA BLW

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