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L&T Construction awarded Rs 2,500 to 5,000 cr multiple orders for its Heavy Civil Infrastructure Business
L&T Construction awarded Rs 2,500 to 5,000 cr multiple orders for its Heavy Civil Infrastructure Business
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Jefferies downgraded GAIL India to underperform with a target price of Rs 105. The June quarter was a weak print with misses in transmission and Petchem compensated by a beat in trading. Elevated gas costs should cap Ebitda growth in transmission. Petrochemicals and LPG will drag on weak pricing. The risk-to-reward ratio is unfavorable.
Jefferies downgraded GAIL India to underperform with a target price of Rs 105. The June quarter was a weak print with misses in transmission and Petchem compensated by a beat in trading. Elevated gas costs should cap Ebitda growth in transmission. Petrochemicals and LPG will drag on weak pricing. The risk-to-reward ratio is unfavorable.
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EARNINGS IMPACT | Power Grid on Monday reported a 5% YoY fall in consolidated net profit to Rs 3,597 crore in the first quarter. It was Rs 3,801 crore in the year-ago period. The company's Board has also recommended issue of bonus shares in the ratio of 1:3. This means, for every three shares investors hold, they will get one additional share.
EARNINGS IMPACT | Power Grid on Monday reported a 5% YoY fall in consolidated net profit to Rs 3,597 crore in the first quarter. It was Rs 3,801 crore in the year-ago period. The company's Board has also recommended issue of bonus shares in the ratio of 1:3. This means, for every three shares investors hold, they will get one additional share.
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The resilience of the mother market US, where the rally is spreading to the broader market, is supporting global markets. But the rally is stretching valuations beyond comfort levels. Sensex is now trading at 25 times trailing one-year earnings. It is important to note that the rally is driven by PE expansion, not commensurate earnings growth. The FY 24 Q1 earnings growth is muted except in banking and refineries. Results indicate that rural demand is yet to pick up in a meaningful manner.Even though Indian economy is in a sweet spot and it makes sense to remain invested, investors should be cautious in their fresh investment, particularly in chasing low grade small-caps.
The resilience of the mother market US, where the rally is spreading to the broader market, is supporting global markets. But the rally is stretching valuations beyond comfort levels. Sensex is now trading at 25 times trailing one-year earnings. It is important to note that the rally is driven by PE expansion, not commensurate earnings growth. The FY 24 Q1 earnings growth is muted except in banking and refineries. Results indicate that rural demand is yet to pick up in a meaningful manner.Even though Indian economy is in a sweet spot and it makes sense to remain invested, investors should be cautious in their fresh investment, particularly in chasing low grade small-caps.
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Brookfield signs MoU with Reliance Industries for onshore renewable power and decarbonization equipment manufacturing in Australia.
Brookfield signs MoU with Reliance Industries for onshore renewable power and decarbonization equipment manufacturing in Australia.
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Sensex Live: Opening Bell: Sensex starts on positive note, Nifty holds 19,750; Suzlon jumps 5%, Power Grid drops 4%
Sensex Live: Opening Bell: Sensex starts on positive note, Nifty holds 19,750; Suzlon jumps 5%, Power Grid drops 4%
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Markets may start with steady gains in early Tuesday trades as gains in the overnight US markets and positive trend in other Asian indices is likely to aid sentiment. The 2-biggest positive catalyst fuelling optimism are Chinese stimulus signals and higher probability of a soft landing of the US economy. Auto stocks will be in radar as July sales numbers will be announced today, while investors will also eye the Manufacturing PMI data for July to be released later in the day. Technically, the confirmation of strength can only be seen if Nifty closes above the 19887 mark. On the other hand, Bank Nifty’s biggest inter week hurdle is seen at 46370 mark.
Markets may start with steady gains in early Tuesday trades as gains in the overnight US markets and positive trend in other Asian indices is likely to aid sentiment. The 2-biggest positive catalyst fuelling optimism are Chinese stimulus signals and higher probability of a soft landing of the US economy. Auto stocks will be in radar as July sales numbers will be announced today, while investors will also eye the Manufacturing PMI data for July to be released later in the day. Technically, the confirmation of strength can only be seen if Nifty closes above the 19887 mark. On the other hand, Bank Nifty’s biggest inter week hurdle is seen at 46370 mark.
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