Capgemini has signed an alliance partner agreement with Majesco. In the agreement, Capgemini will bring its extensive insurance innovation, customer service and digital capabilities to implementations of the Majesco Life & Annuity (L&A) and Group Core Suite for insurance carriers in the life, annuity, group, worksite, and voluntary benefits market, the company said.
Nifty Media is the biggest sectoral loser today dragged by Dish TV, Hathaway and Eros Media.
Crude Update: Oil prices were mixed on Tuesday as US sanctions on oil exporters Iran and Venezuela kept markets on edge while concerns that an escalating Sino-US trade dispute could slow the global economy also kept crude somewhat in check.
Hughes and Airtel sign agreement: Bharti Airtel and Hughes Communications announced an agreement to combine their VSAT operations in India. The transaction is subject to approvals by relevant authorities.
HDFC Bank touches 52-week high: The share price rose 1.5 percent in the early trade on May 7 as company is going to consider sub-division of its equity shares.
Market Opens: It is good start for the Indian indices on May 7 after a weak closing registered on May 6.
At 09:16 hrs IST, the Sensex is up 166.55 points at 38,766.89, while Nifty is up 44 points or 0.38% at 11642.30. About 454 shares have advanced, 188 shares declined, and 25 shares are unchanged.
Marico, Bharti Airtel, Yes Bank, HDFC Bank, Tata Steel, Vedanta, Tata Motors, IndusInd Bank, Britannia, SBI, Power Grid, are among major gainers on the indices, while lowers are ICICI Bank, IOC, ONGC, Indiabulls Housing, HPCL and BPCL
Among the sectors, except energy all other indices are trading higher.
Rupee Opens: The Indian rupee opened marginally higher at 69.37 per dollar on Tuesday versus previous close 69.40.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session with Nifty above 11,650 level.
At 09:03 hrs IST, the Sensex is up 189.69 points or 0.49% at 38790.03, and the Nifty up 71.70 points or 0.62% at 11670.
Brokerages View: Source: CNBC-TV18
Nomura on ICICI Bank
Buy call, raises target to Rs 500 from Rs 480 per share
PAT missed due to higher provisioning/ write-offs
Expect NIMs to inch up 10 bps in FY20
CLSA on ICICI Bank
Buy rating, target raised to Rs 500 from Rs 470 per share
Normalisation of credit costs to aid an earnings recovery
Expect slippage to stabilise around 2%
Morgan Stanley on ICICI Bank
Overweight call, target at Rs 530 per share
Control of funding cost helped boost NIM 25 bps QoQ
Aggressive write-offs sharply reduced stock of impaired loans
Macquarie on ICICI Bank
Retain outperform, target raised to Rs 465 from Rs 450 per share
Q4 PAT missed estimates on higher provisions, write-offs
PhillipCap on ICICI Bank
PAT behind expectations mainly due to higher provisioning
NII at Rs 7,620 crore better than estimate of Rs 7,170 crore on higher NIMs
NIM increased owing to interest on I-T refund & interest received on NPA A/Cs
Credit Suisse on ICICI Bank
Outperform call, target at Rs 465 per share
Well positioned to sustain pick-up in loan growth
Expect RoEs to improve to 14% In FY20
Deutsche Bank on ICICI Bank
Buy call, target at Rs 500 per share
Path of recovery getting stronger; better visibility for >15% RoEs
Expect better growth, higher NIMs & lower credit costs in FY21
Morgan Stanley on Bharti Airtel
Q4 numbers marginally better than our forecasts
Profitability improved in India wireless & Africa
Weakness in enterprise & homes dragged cons profitability
CLSA on Marico
Buy rating, target at Rs 465 per share
8% domestic volume growth with an eight-quarter high gross margin
Q4 performance stood out in every aspect vis-a-vis most peers
Macquarie on Marico
Maintain outperform, target raised to Rs 412 from Rs 394 per share
EBITDA miss mainly on account of higher investments in A&P & higher promotions
Cut earnings on account of lower pricing growth & higher A&P spend
Morgan Stanley on Marico
Upgrade to overweight, target at Rs 410 per share
Forecast 17% FY19-21 earnings CAGR
Expect a calibrated stock re-rating regardless of election outcome
Jefferies on Marico
Hold rating, target at Rs 380 per share
Reported earnings below estimates but qualitatively not as bad
Margin miss was due to higher ad spend to support new launches
CLSA on Gujarat Gas
Buy rating, target raised to Rs 195 from Rs 150 per share
Miss on EBITDA but volume jump after court order drives upgrade
Jefferies on Gujarat Gas
Buy rating, target at Rs 185 per share
EBITDA miss on lower than expected margin
Outlook is strong with Morbi volumes now at 4.5 mmscm
Asian markets trade lower: Asian shares wallowed near five-week lows on early Tuesday after U.S. President Donald Trump's threat to raise tariffs re-ignited worries about U.S.-China trade tensions while Japan's Nikkei opened down after a 10-day break.
Wall Street ends lower: US stocks fell on Monday after President Donald Trump threatened to raise tariffs on Chinese goods, though they pared much of their early losses as healthcare shares rose and some investors remained confident of an eventual trade agreement.
If you want to know more about our services, please visit Free Stock Tips
No comments:
Post a Comment