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Pidilite Industries, Navin Fluorine Get Ratings Upgrade From Morgan Stanley On Improved Growth Outlook
- Morgan Stanley upgraded Pidilite Industries Ltd. and Navin Fluorine International to 'overweight' and 'equal weight' ratings, respectively, due to their exposure to agrochemicals.
- The brokerage raised the target price for Pidilite Industries to Rs 5,000 and for Navin Fluorine to Rs 4,160, expecting a 65% and 8.4% upside, respectively.
- The forecasted agrochemicals-led growth cycle in financial year 2026 is anticipated to benefit Indian chemical companies with stronger asset runs and margin tailwinds.
- Global crop protection volume growth in 2026-2027 will particularly favor Indian chemical producers, with double-digit volume growth estimates.
- Morgan Stanley suggested potential risks like volume uptick challenges leading to pricing pressures for Indian chemical companies.
- Pidilite Industries' agrochemicals segment valuation multiple was increased to 23 times with segment earnings estimates rising by 7%.
- Navin Fluorine International's contract manufacturing and high-performance segment valuation multiple was adjusted to 25 times, reflecting operational efficiency and margin improvement.
- The favorable outlook signals a potential return to 20% CAGR earnings growth and a 200 basis points rise in return on capital employed.
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Asian Paints Share Price Gains After Major Block Deal
- Asian Paints share price increased by over 1% following a block deal where 85 lakh shares were exchanged.
- Reliance Industries sold 3.5 crore equity shares of Asian Paints in a previous block deal at an average price of Rs 2,201 per share.
- The total transaction value of the block deal amounted to Rs 7,703 crore.
- SBI Mutual Fund bought the entire 3.64% equity stake in the block deal.
- Asian Paints' share price rose 1.07% to Rs 2,237.90 apiece after the block deal.
- The stock was trading 0.28% higher at Rs 2,220.50 apiece.
- Asian Paints shares have fallen 23.92% in the last 12 months.
- Out of 39 analysts tracking the company, seven recommend 'buy', 10 suggest 'hold', and 22 advise 'sell'.
- The average 12-month consensus price target implies a 3.5% upside.
- Asian Paints' relative strength index was at 36.
- The NSE Nifty 50 advanced by 0.053%.
- The company had a total traded volume 1.6 times its 30-day average.
- Reliance Industries mentioned retaining a balance of 87 lakh shares of Asian Paints.
- The stock market saw a gain of over 700 points with HDFC Bank leading.
- Asian Paints stock news and live updates are available on NDTV Profit.
- The stock market saw a gain of over 700 points with HDFC Bank leading.
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Samay Project Services IPO: Subscription, GMP, Offer Size, Price Band And More
- Samay Project Services Ltd. launched its IPO to raise nearly Rs 15 crore for EPC projects in design, engineering, and commissioning.
- The IPO is worth Rs 14.69 crore with a price band set between Rs 32-Rs 34 per share.
- Retail investors can bid for a single lot of 4,000 shares, while HNIs need to bid for at least two lots.
- The IPO will remain open for subscription from June 16 to June 18, with listing scheduled on June 23.
- The company has reserved portions for retail investors, NIIs, and QIBs.
- Smart Horizon Capital Advisors Pvt. is the lead manager, and Bigshare Services Pvt. is the registrar for the IPO.
- The company plans to use the IPO proceeds for working capital and general corporate purposes.
- Financially, the company's profit after tax decreased in FY25, along with a YoY drop in total revenue.
- The IPO does not have a grey market premium (GMP) as per the current data.
- Investments in IPOs are subject to market risks; investors should review the red herring prospectus and seek advice.
- The IPO allotment status is expected by June 19, with share transfers and refunds scheduled for June 20.
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Patil Automation IPO: GMP, Subscription Status, Price Band, Offer Size And More
- Patil Automation IPO is a book-built issue worth Rs 69.61 crore with a NSE SME offer consisting entirely of a fresh issue of 58.01 lakh equity shares.
- The company aims to raise nearly Rs 70 crore from the primary market through its NSE SME issue focusing on welding and line automation solutions.
- Key details include the allocation percentages: 50% for QIBs, 35% for Retail investors, and 15% for NIIs; Price band set at Rs 114 - Rs 120 per share.
- Investors can apply for a minimum of 1,200 shares with the IPO closing on June 18, and listing tentatively scheduled for June 23 on NSE SME.
- As of June 16, the grey market premium (GMP) for Patil Automation IPO is Rs 22 per share, indicating a potential 18.33% listing gain.
- Founded in 2015, Patil Automation Ltd. specializes in automation solutions like welding lines and gantries, with plans to use IPO funds for new facility setup and loan repayment.
- Financially, the company's revenue in FY 2024-25 increased by 3% to Rs 122.04 crore with a net profit increase of 49.2% to Rs 11.7 crore.
- Investments in IPOs are subject to market risks; investors should consult financial advisors and thoroughly read the red herring prospectus.
- Lead book-running manager for the IPO is Seren Capital Pvt. and the registrar is Purva Sharegistry India Pvt.; Mansi Share & Stock Broking Pvt. is the market maker.
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Tata Technologies Share Price Declines As Stocks Turn Ex-Dividend
- Tata Technologies' share price declined by 2.27% as stocks traded ex-dividend following announcements of final and special dividends.
- The company declared a total dividend of Rs 11.70 per equity share for the fiscal year ended March 31, 2025.
- The record date for the dividend was set on June 16, 2025, determining eligible shareholders.
- Investors needed to purchase shares one day before the record date as per T+1 settlement procedure to receive the dividend.
- Tata Technologies' stock price dropped to Rs 736.40 apiece, later trading 2.13% lower at Rs 737.45 apiece.
- The stock has fallen by 28.38% over the last year with trading volume at 0.19 times the 30-day average.
- Analysts tracking the company have varying opinions, with three 'buy', two 'hold', and 12 'sell' recommendations.
- The average 12-month consensus price target suggests a downside of 17.2%.
- The NSE Nifty 50 Index rose by 0.15% while Tata Technologies shares were down.
- Tata Technologies' stock performance reflects a negative sentiment in the market following the ex-dividend trading.
- The company's dividend announcements impact stock prices and investor decisions.
- Market analysts' recommendations and the stock's relative strength index provide insights into investor sentiment and future price movements.
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Bajaj Finance Share Price Swings As Stock Trades Ex-Split
- Bajaj Finance's share price fluctuated as the stock traded ex-split, initially rising 2.45% then falling 0.81%.
- The company split its shares from Rs 2 to Rs 1 face value, rewarding shareholders with a windfall, converting 10 shares into 100.
- Stock splits increase outstanding shares, enhancing liquidity, without altering the total investment value.
- Investors were required to hold shares by the June 13 record date to qualify for the stock split and bonus issue.
- Bajaj Finance's share price reached Rs 956 before dropping to Rs 925.50, later trading 0.55% lower at Rs 927.
- The stock has declined significantly year-to-date, down 86.35%, and 87.32% in the last 12 months.
- Analysts' ratings show 22 'buy', 12 'hold', and 5 'sell' recommendations for Bajaj Finance, with a 1.4% upside in the 12-month price target.
- The NSE Nifty 50 rose by 0.02% while Bajaj Finance traded at a relative strength index of 73.08.
- The company's shares traded at nine times the 30-day average volume.
- Despite the share price fluctuations, Bajaj Finance continues to garner interest from analysts and investors.
- Bajaj Finance's share split and bonus issue have impacted trading sentiments.
- The company's share price performance indicates a notable decline in recent times.
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Jefferies Maintains 'Buy' On Indigo Amid Network Expansion, Product Diversification And More
- Jefferies maintains a 'buy' rating for InterGlobe Aviation Ltd. amid international expansion, product diversification, and strategic partnerships.
- Indigo targets a fleet size of more than 600 by financial year 2030 compared to the current 400.
- The airline plans to launch medium and long-haul routes across Europe and enter the North American market to support international expansion.
- Indigo aims to attract corporate and affluent travelers by adding premium 'stretch' seats on select international routes.
- Management expects transient geopolitical impacts on growth, with strong performance in April, impact in May due to tensions, and recovery in June.
- Indigo has excelled in reducing carbon emissions per available seat kilometer compared to peers, aligning with ESG commitments.
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POCO F7 With 7,550mAh Battery Teased On Flipkart Ahead Of Launch: Camera, Features, Price And More
- The upcoming Poco F7 smartphone with a 7,550mAh silicon-carbon battery is teased on Flipkart ahead of its launch, offering a sneak peek of the features.
- The Poco F7 is expected to provide up to 2.18 days of battery life on a single charge and supports 90W wired charging along with 22.5W reverse wired charging to act as a power bank.
- Details regarding the camera, software, and price of the Poco F7 have not been disclosed in the teaser.
- Geekbench reports suggest that the Poco F7 might be powered by the Snapdragon 8s Gen 4 SoC chipset with 12GB RAM, and possibly additional options for users.
- There are speculations that the Poco F7 could be a rebrand of Redmi Turbo 4 Pro, featuring an AMOLED screen, 1TB storage, up to 16GB RAM, dual rear cameras, and a large battery.
- The Redmi Turbo 4 Pro was launched at around Rs 25,000, indicating that the Poco F7 might be priced similarly, targeting budget-conscious consumers.
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SpiceJet Shares Rise 5% After Posting Profit In Q4
- SpiceJet shares rose 5% after the company posted a profit of Rs 48 crore in the fourth quarter, compared to a loss of Rs 404 crore in the same period last year.
- The profit increase was attributed to one-off gains, higher fares, reduced costs, and forex gains.
- One-off income of Rs 220 crore from the gain on lease liability restructuring and cost reductions in areas like fuel, airport charges, and maintenance contributed to profitability.
- However, revenue decreased by 25% to Rs 5,326 crore due to a smaller fleet size.
- Ebitdar rose by 16% to Rs 1,635 crore for the quarter ending in March.
- SpiceJet shares reached Rs 46 apiece, a 5% increase and the highest level since June 12.
- As of 9:20 a.m., the shares were trading 3.29% higher at Rs 45.25 apiece.
- SpiceJet's year-to-date performance showed a 17.15% decline, with a 60.48 relative strength index.
- Analysts' opinions vary, with one 'buy' rating, one 'hold' recommendation, and one 'sell' suggestion, with a 2.8% upside in the average consensus price target.
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Hyundai Motor Gets UBS' 'Buy' Initiation On Capacity Expansion, Premiumisation
- UBS has initiated coverage on Hyundai Motor India Ltd. with a ‘buy’ rating and a price target of Rs 2,350, citing the company's strategic capacity expansion and growth trajectory.
- Hyundai is set for a strong comeback, driven by its new optimisation-led strategy, upcoming plant in Maharashtra to increase production capacity by 30%, and positioning India as a global export hub.
- UBS expects a significant increase in domestic volume growth by 10% between fiscal 2026 and fiscal 2028, along with an 11% annual rise in export volumes.
- Hyundai's success is attributed to its premiumisation and technology adoption, offering upmarket features like sunroofs, GDi engines, DCT gearboxes, and ADAS.
- While Hyundai underperformed in volume growth, it maintained strong revenue and operating profit figures due to its product mix and pricing power, with higher EBIT margins compared to industry peers.
- UBS forecasts a 16% Ebitda CAGR during fiscal 2026–2028, supported by operating leverage and growing export share, despite risks such as overdependence on the Creta and potential launch missteps.
- Hyundai's focus on growth, product innovation, and premium positioning, alongside its pipeline of 26 new models by 2030 and entry into hybrids, justifies a bullish outlook and long-term investment, according to UBS.
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Indians Prioritising Debt Over Savings, But Rural Confidence Holds Strong
- Indian households are saving at their lowest rate in nearly seven years, while their debt has doubled in the last decade, with financial liabilities rising to 6.2% in FY24 compared to 3.2% in FY14.
- According to a CareEdge Ratings report, net household savings were 18.1% of GDP in fiscal 2024, the lowest since FY17, marking the third consecutive year of decreasing savings.
- Rural household confidence remains high, with income growth outpacing inflation, leading to optimistic future expectations. Rural wage rates have been increasing, contributing to positive consumer sentiment in rural areas.
- Consumer confidence in urban areas remains pessimistic, while rural consumers are more optimistic. The report indicates a positive investment climate, with the central government's capital expenditure exceeding previous estimates.
- The CareEdge report suggests that RBI policy rate cuts, reduced tax burdens, and easing price pressures will support a broad-based demand recovery. The Adani Group announced a significant $100-billion capital expenditure plan, emphasizing energy, infrastructure, and other sectors.
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Rupee Faces Monday Blues, Opens Weaker Against US Dollar
- The Indian rupee opened weaker against the US dollar on Monday, falling by 9 paise to 86.18 after closing at 86.09 on Friday.
- Heightened geopolitical tensions in the Middle East are supporting the US Dollar, impacting currency markets globally.
- Traders are predicting an 80% chance of a Fed rate cut in September, with 85.75 acting as support and 86.40 as resistance for USD-INR.
- The conflict between Israel and Iran has escalated, pressuring the US dollar, which has faced hostilities for four consecutive days.
- India's FX Reserves increased to $696.6 billion, impacting the rupee, which exhibited fluctuations during Friday's trading.
- US Yields have risen, with the two-year yield at 3.96% and the 10-year yield at 4.41%, while the dollar remains stable against major currencies.
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G7 Meeting: Canadian FPI Assets In India Have Risen By Rs 28,000 Crore Since February
- Canadian FPI assets in India have increased by nearly Rs 28,000 crore since the end of February.
- Canadian investors registered with SEBI held equity assets worth Rs 1.76 lakh crore at the end of May 2025.
- Canadian Pension Fund, a major investor, held $12.2 billion worth of rupee assets in March.
- FPI investment from Canada peaked in September 2024 at Rs 1.98 lakh crore under custody.
- FPIs booked profits on investments as investors engaged in the Trump trade before the US presidential elections.
- Fluctuations in Trump's tariffs led FPIs to increase their positions in Indian markets.
- Canadian FPIs' assets under custody rose by $3.25 billion from the end of February.
- Net FPI investment during the same period stood at $1.89 billion.
- The Nifty 50 index rose by over 11% during this period, raising the value of investments.
- This increase in FPI assets can be attributed to various market trends and events.
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Five Stocks To Buy Today: Bank Of Baroda, ideaForge, Ramky Infrastructure Among Others
- Bank of Baroda, ideaForge, and Ramky Infrastructure are among the stocks with 'buy' recommendations on Monday.
- Experts recommended buying Ramky Infrastructure, Aavas Financiers, ideaForge Technology, Bank of Baroda, and Biocon Ltd.
- Kunal Rambhia advises buying Ramky Infrastructure with a target price of Rs 550 and a stop loss at Rs 505 per share.
- Rambhia also suggests buying Aavas Financiers with a target price of Rs 2,000 and a stop loss at Rs 1,800.
- Vaishali Parekh recommends buying ideaForge Technology with a target price of Rs 650 and a stop loss at Rs 560.
- Gaurav Sharma advises investing in Bank of Baroda with a target price of Rs 250 and a stop loss at Rs 234.
- Sharma also recommends buying Biocon Ltd with a target price of Rs 378 and a stop loss at Rs 345.
- Analyst ratings and consensus price targets for these stocks are also provided.
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Stock Recommendations Today: HDFC Bank, IndusInd Bank, IndiGo On Brokerages' Radar
- Stock recommendations today include HDFC Bank, IndusInd Bank, and IndiGo on brokerages' radar.
- Citi highlighted that HDFC Bank's acquisition of new customers and branch seasoning will aid faster deposit growth and market share gain.
- IndusInd Bank met with Citi to discuss recent business developments and near-to-medium term priorities.
- Goldman Sachs noted healthy cement price increases and improved spreads, with a focus on demand recovery crucial for the sector.
- Jefferies maintained a 'buy' rating on Indian Hotels and Ambuja Cement, with positive outlooks on demand-supply cycles and cost savings.
- Jefferies also recommended 'buy' ratings on IndiGo and Ambuja Cement, citing strong long-term growth prospects and cost leadership.
- Citi maintained a 'sell' rating on IndusInd Bank due to concerns over repayments and liquidity pressures affecting net interest margins.
- Citi, however, upheld a 'buy' rating on HDFC Bank, expecting improved NIMs, loan growth aligned with system average, and deposit growth support.
- Analyst recommendations cover various sectors and provide insights into stock performance and market trends.
- The article offers key insights into stock recommendations and sector outlooks based on brokerage analyses and company updates.
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