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Share market update: Nifty Financial Services index down; PFC falls 2%
The Nifty Financial Services index was trading 0.18 per cent down at 14,334.35.
FPIs cut stake in Infy, raise in TechM, TCS
Foreign fund managers have cut their stake in Infosys at a time when two whistleblower complaints...
Mitsubishi UFJ Financial sells 2.10% shares in Cipla
Prior to the sale, MUFG had 5.56 per cent shares in Cipla.
Centrum maintains add on HCL Technologies, target price Rs 650
Steady margin expansion along with improvement in payouts are positives for the stock.
Stocks in the news: Bharti Airtel, IndiaMart, ZEEL, ICICI Pru Life, Oil India and Vodafone Idea
Power Grid Corp has decided to launch an Infrastructure Investment Trust (InViT).
Sell Punjab National Bank, price target Rs 58.5 : Kunal Bothra
The analyst suggested a stoploss at Rs 63 .
Emkay Securities maintains sell on L&T Finance, target price Rs 98
The brokerage said it remains skeptical about uncertainty and volatility in the business model of the company.
Anand Rathi Securities maintains buy on South Indian Bank, target price Rs 16
The brokerage expects the credit costs of the bank to normalize on account of asset quality stablisation and lower slippages.
SBICAP Securities maintains buy on Jindal Steel & Power, target price Rs 225
The company has showcased its ability to strengthen its balance sheet by reducing debt and continues to be on a deleveraging path.
HDFC Securities maintains neutral on Reliance Industries, target price Rs 1,562
According to the brokerage, RIL posted underwhelming results in third quarter as operating profit reported was 10% lower than HDFC Securities’ estimates.
Vodafone Idea jumps 15% as telcos seek modification in AGR ruling
Vodafone Idea told the court that if no relief is forthcoming, it will have to shut.
Kotak Securities maintains reduce on TCS, target price Rs 2,020
Backed by breadth of offerings, leadership across markets, digital competencies and new market expansion, TCS will continue to gain market share.
HDFC Securities maintains buy on HCL Technologies, target price Rs 665
The brokerage maintained a buy on HCL Tech following a better than expected revenue and margin performance and about 2% increase in EPS.
UBS initiates buy on L&T Finance, price target Rs 165
The company will be a major beneficiary of the current liquidity crisis in construction finance in the long term, according to UBS.
JM Financial upgrades Ramco Cements to buy, target price Rs 935
The brokerage upgraded the stock citing the ramp up in new capacities which is likely to reduce company’s debt and improve return ratios materially.
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