Jeffries sees 25% upside potential in Axis Bank stocks and has recommended a ‘Buy’ with a target price of Rs 1,250. “We see 16% CAGR in profits (normalised) over FY23-26 and ROE around +18%. Valuations are at +20% discount to ICICI Bank (FY25) and can narrow. Axis stays among our top picks in the sector. Buy, “said jefferies in its report.
At the Analyst Day, the Bank management echoed the pursuit of ‘customer obsession’ that is evident in the ramp-up of the wealth management platform (1 in 3 richest families bank with Axis), hyper-personalisation of digital & branch channels, partnerships with fintechs/ CSCs/tech-platforms among others. Jefferies believes that this is helping improve Net Promoter Score (NPS) and that’s evident in business growth as well.
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Axis Bank’s lendable deposits have grown at 34% f…
Lok Sabha Election Results 2024: The counting has begun for the Lok Sabha election results 2024 and all eyes are on the stock market how it reacts to two possible scenarios – BJP-led NDA winning comfortably as exit polls predicted or the INDIA bloc staging an upset like UPA did in 2004.
In the previous session, all frontline-indices, including Sensex and Nifty, zoomed to fresh peaks and registered their best intraday gains in the post pandemic years. On Monday, the market participants were buoyed by most exit polls showing Narendra Modi’s BJP winning over 350 seats and the National Democratic Alliance (NDA) managing to grab between 360 and 400 odd seats.
But what if the exit polls prediction goes wrong and INDIA bloc allies manage to get majority or 295 seats as they are claiming. In this case, the stock market, which has already factored in BJP’s massive win, may tumble like nine pins.
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Allied Blenders IPO, a book-built issue, comprises both a fresh issue as well as an offer for sale.
Issue Size
The company will be raising a total of Rs 1,500 crore. Out of this, the company will use Rs 1,000 crore by offering 35.6 million shares, while promoters and other shareholders will dump their 17.8 million shares to collect Rs 500 crore.
Bidding Date
The company will open the subscription to investors for bidding on June 25 and close it on June 27.
Market rally leads to higher regulatory fees for stock exchanges Rs 1-trillion fund for innovation to create opportunities for youth Ceigall India allotment to be finalised on August 6; Here are 8 things to know ahead of listing Ceigall India IPO to open on August 01; Here are key details to know
Price Band
The home-based foreign liquor distiller kept the price band in a range of Rs 267 …
Indian equity indices closed on a flat note on Monday. The Nifty 50 closed 3.30 points or 0.01% lower, than its previous close, at 24,320.55. Similarly, the BSE Sensex closed 36.22 points or 0.05% lower, than the previous close, at 79,960.38. Divi’s Laboratories, Titan, BPCL, Shriram Finance, and Adani Ports were the major losers in the Nifty 50 on Monday.
Sectoral Index
Bank Nifty fell 234.55 points or 0.45% to end the session at 52,425.80. Outperforming the overall market, Nifty Midcap 100 fell 201.25 points or 0.35% closing the day’s trading at 56,888.20. In the broader markets, smallcap and midcap stocks closed in the red.
Sectoral draggers
Among the sectoral indices, Nifty PSU Banks and Consumer Durables weighed on the markets. However, the Nifty FMCG bucked the trend.
Will Nifty hold 24,000 on Wednesday or fall further? See GIFT Nifty, FII data, F&O, crude, and…
Rising global crude oil prices are a cause of concern and anxiety for India, said oil secretary Pankaj Jain on Wednesday.
“Whenever prices go up, it does cause anxiety, cause concern. Does it stop at $90 per barrel? That’s the matter of anxiety,” Jain said.
The secretary’s comments come on the backdrop of oil prices having risen to $89 per barrel on Wednesday due to rising geopolitical tensions in the Middle East and between Russia and Ukraine.
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In order to streamline business operations for Foreign Portfolio Investors (FPIs), the Securities and Exchange Board of India (SEBI) on Friday gave its approval to a series of proposals to ease regulatory requirements. These measures, designed to enhance efficiency and flexibility for FPIs, encompass exemptions in disclosure requirements, relaxed timelines for documentation, and provisions for dealing with securities post-expiry of registration.
Additional Disclosure Requirements Exempted for Certain FPIs
One significant decision by the SEBI Board involves exempting additional disclosure requirements for FPIs holding more than 50% of their India equity Assets Under Management (AUM) in a single corporate group. This exemption applies specifically if the concentrated holdings of these FPIs are in a listed company with no identified promoter, provided certain conditions are met.
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The Securities and Exchange Board of India (Sebi) has proposed to ease disclosures on environmental, social and governance (ESG) applicable to listed companies. It has proposed to mandate disclosures on ESG metrics for only those value chain partners, encompassing both downstream and upstream partners, who individually comprise 2% or more of the listed company’s purchase or sales by value, according to a consultation paper on Sebi’s website, inviting public comments by June 12.
Currently, top 250 listed companies as per market value have to give ESG-related disclosures for its value chain partners cumulatively comprising 75% of the purchases or sales, under the Business Responsibility and Sustainability Reporting (BRSR) Core framework.Come from Sports betting site VPbet
Sebi has also proposed an alternative where the new norm of 2% will be applicable along with the current directive…
Fishing is one of the five main skills in Stardew Valley and an excellent way to make some money. However, the fishing minigame involves a bit of skill and the type of fish you can catch changes each season. Combine that with a few different fishing locations, bait, and tackle, and the fishing can become a bit overwhelming. Here’s everything you need to know about fishing.
How to fish
Using a fishing rod, you can cast it into a body of water by holding the action button to determine cast strength. Once the bobber is in the water, you need to hit the action button again when an exclamation point appears, which will hook your catch. If it was a fish biting your line, this will start the fishing minigame.
The fishing minigame puts a fish icon on a large bar, moving sporadically up and down the bar. You need to keep your green bar on the fish to reel it in, feathering the action button to keep it in the same place. The best technique is to…
The Nintendo Switch eShop has kicked off a huge new sale with a wide variety of games discounted to great prices. The main promotion focuses on multiplayer games, but you can also shop deals from big developers such as Capcom, Bandai Namco, EA, and SegaCome from Sports betting site VPbet. With nice discounts on Doom Eternal, Hyrule Warriors: Age of Calamity, Lego Star Wars: The Skywalker Saga.
Hyrule Warriors: Age of Calamity is now listed for just $42, down from $60. This is one of the better deals we’ve seen for the first-party title since it launched in 2020, making it a great time to check out the musou action. It’s also playable in co-op, with a friend joining you on the battlefield to slay legions of Bokoblins and Lynels. In addition to Age of Calamity, you can get Hyrule Warriors: Definitive Edi…
Edgewater Casino Resort in Nevada unveiled a new two-day bingo event set to take place in November. The $200,000 River Bingo Bash will, according to the property, take bingoing to the next level.
The two-day event will begin on Saturday, November 23 and will conclude on Sunday, November 24. It will offer players a shot at a prize pool of $100,000 on each of the two days, while also providing guests with a weekend filled with food, gifts and entertainment.
The event is set to take place at the famed Edge Pavilion at Edgewater. Each of the two days will begin with ten warm-up games where winners will get $500. Following the warm-up, players will compete for what Edgewater described as “massive payouts” in the main event.
After the final session, Edgewater will host an afterparty event at the Edgewater Bingo Room. There, players will get chances to win free bingo and slot play, coverall prize game…