Buy ICICI Bank, price target Rs 560: Shubham Aggarwal
The analyst suggested a stoploss at Rs 509
Stocks in the news: YES Bank, Reliance Ind, Bharti Airtel, Gati, M&M and Allcargo Logistics
Antique Stock Broking has maintained buy rating on ICICI Bank with a target price of Rs 575.
MG Motor working on affordable EV concept
MG Motor India managing director Rajeev Chaba said the company had already started working on the project, taking cues from the requirements of local consumers. The concept will be completed in the next one year, and a production model may hit the roads in the next three to four years, he said.
Antique Stock Broking maintains buy on ICICI Bank, target price Rs 575
The bank is now geared-up to make-up its lost ground by leveraging its best-in class distribution franchise, innovative digital offerings and data analytics
Board Meetings Today: IRB Infra, Rolta India and Punjab & Sindh Bank
It makes sense to have a look at the corporate agendas for the day’s as announced to the stock exchanges.
Tech industry sees two pain points in data protection bill
The PDP Bill proposes voluntary verification of users on social media platforms and sharing of anonymised data by companies with the government. There are fears of users finding the KYC process too cumbersome. The Bill hasn’t prescribed a single method for verification and multiple options may add complexity.
Slowdown grounds business jets as the rich tighten purse strings
India Inc is looking to tighten its belt amid the economic slowdown as it gives up on jets.
Bond yields down, but only for top-rated companies
“There is a paradox in the bond market,” said Pratapsingh Nathani, Beacon Trusteeship.
CLSA increases RIL share price target to Rs 2,010
CLSA’s target price on the stock is the highest among 37 brokerages tracking the stock.
Oil rises, US crude trading near two-month high after OPEC cut
A panel of ministers representing OPEC and non-OPEC producers led by Russia recommended the cuts be made, according to Russian Energy Minister Alexander Novak on Thursday.
CIL in talks with Russian company for extraction, import of coking coal
VostokCoal-Diskon is developing coal extraction facilities at the Taimyr coal basin of Taymyr Peninsula in central Siberia. It has been exploring the area since 2016 and has recently opened two deposits that would touch peak capacity of 30 million tonnes a year. VostokCoal will build a coal terminal and create a specialised fleet for exporting coal round the year.
Allcargo Logistics buys controlling stake in Gati
The all-cash deal will see the company eventually acquiring about 45% in Gati through a direct purchase of the promoters’ stake and a subsequent open offer. It values the company at about Rs 1,000 crore. Allcargo is funding this deal through a mix of internal accruals and debt. Internal accrual is through monetisation of non-core assets including land parcels.
Senior level exits peak in consumer companies
In retail, food and grocery chain Nature’s Basket chief executive officer Avani Davda has put in her papers, thereby moving out months after the business was acquired by Spencer’s Retail from the Godrej Group. Davda said the exit is due to personal reason.
Fund-raising to boost Bharti Airtel's books: Analysts
Bharti Airtel’s application for permission to increase its foreign shareholding limit to 100 per cent is still pending with the government.
Analyst Calls: Ambuja Cements,SpiceJet, ICICI Bank, Essel Propack
IIFL has maintained reduce rating on Ambuja Cements with a target price of Rs 198.
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