Intensify Research Pvt. Ltd.

Investors searched for a sense of direction after US markets failed to provide cues Global markets today: Global investors are eyeing US earnings reports, with Goldman Sachs issuing disappointing results as its showed traders failed to capitalise on Wall Street’s fixed-income boom, contributing to firmwide revenue that trailed estimates. Bank of America Corp rose after profit beat expectations. Investors are also keeping an eye on the results of regional US banks after three collapsed last month as lenders face pressure from rising interest rates. Meanwhile, the Indian stock market oscillated in a narrow range and ended marginally lower, in continuation of Monday's decline. We are seeing reactions largely based on earnings, in absence of any major event. Banking and financials hold considerable weight in the benchmark and their resilience indicates further room for upside," said Ajit Mishra, VP - Technical Research, Religare Broking. US stock market Wall Street stocks finishe...

Gold, silver rate today are rising on these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, fear of slowdown and rising oil prices, say experts Gold rate today extended its rally on yet another session after hitting life-time high of ₹61,145 per 10 gm on Multi Commodity Exchange (MCX) on Tuesday. While climbing to record high on MCX, gold price hit 13-month high in international market. Silver rates today are also in uptrend hitting 12-month high in international market whereas it hit 22-month high on MCX. According to commodity market experts, reason for rise in gold and silver rates in commodity market today can be attributed to these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, economic uncertainty and rising crude oil prices. They said that gold price in India have strong support placed at ₹59,500 levels while in international market the yellow metal has strong support placed at $2,010 levels. Likewise, s...

Shares of Infosys rose marginally to ₹1,489 apiece on the BSE in Friday's opening deals after the IT company reported a better-than-expected over 13% rise in profit in the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in certain verticals amid slowing global economy. CEO Salil Parekh noted that Q3 witnessed ‘exceptionally strong growth’ but acknowledged that signs around are showing a slowing global economy.  “Despite healthy deal wins, Infosys' upward revision in FY23 growth guidance of 16-16.5% implies a soft 4Q. Slowing net hiring also reflects rising caution. We raise our FY23 -25 estimates by up to 2% and expect Infosys to deliver 13% EPS CAGR over FY23-25. Infosys strong execution favorably positions it to gain market share, strong deal bookings and consistent execution provide comfort amidst an uncertain macro. Maintain Buy with target price of ₹1,770/share," said Jefferies in a note. Des...

Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy. Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and touched an almost seven-month high. Japan's Nikkei wobbled 0.2% lower. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro. Due at 1330 GMT, economists expect the rise in core U.S. consumer prices slowed to an annual pace of 5.7% in December, from 6% a month earlier. Month-on-month headline inflation is seen at zero. The hope is that falling inflation reduces the need for interest rate hikes, and markets have priced better-than-even odds that the Federal Reserve slows its cracking pace and hikes by 25 basis points, rather than 50, at next mont...

  Titan’s Q3FY23 business update point out that company has witnessed standalone revenue growth of 12%, while TEAL grew 58%; Caratlane grew at 50.0% YoY, driven by new buyer growth in the festive season strong marketing campaign and network expansion. Jewelry sales witnessed growth of 11.0% wherein Tanishq opened its first international store in the USA. Studded jewelry reported higher growth than overall divisions led by activations driven by higher contribution from premiumsiation. In Q3, Titan added 111 stores across divisions/ formats. “We believe the continued sales momentum across business divisions would have positive impact on the organized Jewelry," said brokerage Centrum which has remained positive on growth prospects for Titan shares and retains Buy with DCF-based target price ₹3,115 apiece. “In line with our thesis as argued in our report, we expect continued strong uptick in revenue, as the demand is expected to be robust in going forward. We believe the continued sal...

India's top valued company Reliance Industries Ltd's (RIL) shares outperformed Nifty by about 4% in 2022. Global brokerage Jefferies' sees potential earnings upside from RIL's O2C if China's demand recovers by mid-CY2023 and export duties are eliminated.  “We forecast 18% EBITDA growth in FY24E with 21% in Retail on the back of floorspace growth and 24% in Jio on tariff hike and home broadband traction. Valuation has moderated imputing little value to green energy in our view. Borrowings likely will rise," the note stated. Jefferies has maintained its Buy rating on RIL shares with a target price ₹3,100, implying more than 22% upside from the current level. The brokerage expects Jio to deliver 19% YoY rev growth led by tariff hikes in the mobile segment and continued traction in non-mobile segment. 5G pricing/adoption and its impact on market dynamics is key monitorable. The timing and quantum of next tariff hikes and Jio's response to Bharti's rural exp...

General Motors Co reclaimed the top spot in U.S. auto sales from rival Toyota Motor Corp in 2022 as it was able to better meet strong demand for cars and trucks despite industry-wide supply disruptions. Shares of GM rose 2.7% in afternoon trade on Wednesday to $34.75, after the company posted a 2.5% rise in 2022 sales to 2,274,088 vehicles, higher than Toyota's 2,108,458 units, in a closely watched race. Inventory shortages stemming from surging material costs and a persistent chip crunch had hobbled production at many automakers, keeping car and truck prices elevated. Asian brands were hit hardest. "Toyota is still among the tightest when it comes to inventory," Cox Automotive senior economist Charlie Chesbrough said. The Japanese automaker cut its full-year production target in November. Sales of its SUVs, a key segment, fell 8.6% in 2022, data on Wednesday showed. However, Toyota executives said there were some positive signs emerging, and the rate of inventory buildup...

The Indian market is expected to trade higher on Friday tracking positive global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed just a shade below 18,200 level on Thursday. Sectorally, buying was seen in oil & gas, metals, energy, banks and utilities while selling was seen in consumer durables, capital goods, and FMCG stocks. India VIX was down by 3.81% from 15.40 to 14.81 levels on Thursday. Volatility cooled down below 15 and made way for the bulls as we conclude the series. The Nifty50 index surpassed its key hurdle of 18,181 level in the previous trading session which is a positive sign for the bulls. The next resistance for the index is placed at 18,300-18,400 levels, suggest experts. “Nifty formed a Bullish Engulfing candle on a daily scale with long lower shadows indicating support-based buying. It has been making higher highs from the last four sessions and supports are shifting higher,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal ...

 A roller coaster ride has fewer ups and downs than what the bullion market had in the year 2022. Both the metals, gold and silver, kept the market participants on the edge. Comex Gold has made a high of $1,935 and a low of $1630, while silver, on other hand, made a high of $25 and a low of $18. On a YTD basis, both the metals have a return of -2 percent and 2 percent, respectively, on the internal bourses. According to experts, the precious metals are likely to continue sluggish momentum in the first half of 2023 as this year, making it a good opportunity for investors. Meanwhile, they expect the yellow metal to give stronger returns in the second half of 2023. “The yellow metal has gained marginally (0.5-1 percent) this calendar year in dollar terms. It has gained over 11 percent in rupee terms. The attractiveness of gold is high in a low-interest rate regime. Gold has started giving up gains since the US Fed and other major central banks started hiking rates in May 2022. The ris...

Shares of Adani Power Ltd. gained 5.0 per cent to Rs 303.55 in Wednesday's trade. It hit a high of Rs 303.55 and low of Rs 291.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 303.71, while the 50-DMA was at Rs 326.98. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way. The stock traded below the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bearish bias on the counter. The MACD is known for signalling trend reversal in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on top of the MACD to reflect "buy" or "sell" opportunities. O...

  Trucking fleet relationships, customer relationships, historical land bank for setting up sorting centres are the drivers of its high ROE, said Jefferies Global brokerage visited logistics firm TCI Express’ (TCIE) automated sorting centre at Gurgaon and interacted with Chander Agarwal (CEO) and Mukti Lal (CFO) to discuss the company's business operations. “Profitability and cash flow is the mantra even if it means lower revenue growth. B2B is 95% of revenues, with e-commerce at only 5%. Profitable business focus reflects in the 25%+ ROE and we believe double-digit revenue growth, 28% EPS CAGR in FY22-25E are upside triggers ahead," the note stated. Trucking fleet relationships, customer relationships, historical land bank for setting up sorting centres are the drivers of its high ROEs and margin management even in an inflationary environment, as per Jefferies.  “The stock traded at a high of 63x and average of 31x since it listed in December 2016," said Jefferies while ...

Since Uniparts India IPO is entirely an OFS, the company will not receive any proceeds from the issue The initial public offer (IPO) of engineering systems and solutions provider Uniparts India received 58% subscription on the first day of the offering on Wednesday. The issue, with a price band in the range of ₹548-577 a share, concludes on Friday, December 2, 2022. The engineering systems and solutions provider raised ₹251 crore from anchor investors ahead of its initial share sale. As per market observers, Uniparts India shares are available at a premium (GMP) of ₹68 in the grey market today. The shares of the company are expected to list on the stock exchanges BSE and NSE on Monday, December 12, 2022. Uniparts India IPO is of up to 14,481,942 equity shares. At the upper end of the price band, the IPO is expected to fetch ₹836 crore. Since the offer is entirely an Offer for Sale (OFS), the company will not receive any proceeds from the public issue. “Uniparts India is manufacturer of...

 NDTV share price has surged from ₹358.55 to ₹446.30 apiece levels in last five sessions NDTV share price:   Uptrend in shares of New Delhi Television Limited continued for 5th day in a row as the stock has risen from ₹358.55 (close price on 23rd November 2022 on NSE) to ₹446.30 apiece levels today, logging around 25 per cent in last five sessions. In fact, the media stock has been hitting upper circuit for the last four sessions as it has been hitting 5 per cent upper circuit since Friday session. NDTV Adani takeover news: On Monday, Adani Enterprises Ltd informed Indian bourses that its subsidiary Vishvapradhan Commercial Private Limited (VCPL) has received a letter from news broadcaster New Delhi Television Ltd’s (NDTV’s) promoter firm RRPR Holding confirming it had transferred shares constituting 99.5 per cent of its equity capital to VCPL. "We hereby inform you that VCPL has received a letter from RRPR Holding Private Limited (“RRPR") (through its lawyer) dated November ...

The US stock market fell on Tuesday with investors keenly looking forward to Fed Chair Jerome Powell's public appearance later this week The S&P 500 closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while US oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. The US dollar edged lower against the Japanese yen while the Aussie dollar jumped as sentiment improved on hopes China would ease on lockdowns after health officials discussed speeding up COVID vaccinations for elderly people. US Treasury yields rose ahead of a public appearance by Fed Chair Jerome Powell and a slew of data due later in the week. A survey released on Tuesday showed US consumer confidence eased further in November amid persistent worries about the rising cost of living. Richmond Fed President Thomas Barkin on Monday doused speculation the US central bank would reverse course on interest...

  At the upper end of the price band, Uniparts India IPO is expected to fetch ₹836 crore Engineering systems and solutions provider Uniparts India's ₹836-crore initial public offering (IPO) will open for public subscription on Wednesday, November 30, 2022 and conclude on Friday, December 2, 2022. The bidding for anchor investors will open on Tuesday, November 29. The price band has been fixed in the range of ₹548-577 a share for its three-day initial share sale. “Uniparts India is manufacturer of engineered systems and solutions and leading supplier of of components for the off highway market in agriculture and construction. International sales contributed to over 82% sales in FY22. Revenues and margins grew steadily in past three fiscal years. At the upper band of the offer, the implied market cap stands at approx. Rs. 2604 crores and the asking p/e multiple is 15.28x which looks quite reasonable as compared to its peers. The secondary market being at all-time highs should help th...

Vedanta announced an interim dividend of ₹17.50 per share or 1750% for the financial year 2022-23 Shares of Vedanta Ltd started trading ex-dividend on Tuesday, a day ahead of its record date which has been fixed as Wednesday, November 30, 2022 for the purpose of the payment of the third interim dividend of ₹17.50 per share or 1750% for the financial year 2022-23. Vedanta shares rose over a per cent on the BSE in opening trading session. “We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of ₹17.50 per equity share i.e. 1750% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹6,505 crores. The record date for the purpose of payment of dividend is Wednesday, November 30, 2022. The interim dividend will be paid within stipulated timelines as prescribed under law," the company had informed in an exchange filing. Billionaire Anil Agar...

  Multibagger stock: Shares of Leading Leasing Finance And Investment Company Ltd are one of the multibagger stocks in India. The small-cap stock with a market cap of around ₹52 crore is one of those stocks in 2022 that announced subdivision of shares as well. The board of directors of the company announced 1:10 stock split this year and the stock traded ex-split on 22nd September 2022. In last one month, this small-cap stock has delivered over 25 per cent return to its shareholders. However, this stock has a history of delivering whopping return to its shareholders as it surged from around Re 1 to ₹9.70 apiece levels in last 5 years, delivering to the tune of 870 per cent return to its long term positional investors. Leading Leasing Finance share price history In last one month, this small-cap multibagger penny stock has risen from around 7.75 to 9.70 apiece levels, recording around 25 per cent rise in this period whereas in last six months, it has surged from6.80 to ₹9.70 per sha...

  Promoter & Director of the company has been raising his stake in small-cap FMCG company Mishtann Foods share price is giving sharp upside moves after hitting 52-week low of 7.80 apiece in July 20220. While this rebound in 10 stock is catching attention of retail investors, promoters are also looking to cash-in this big opportunity. Like retail investors company promoter Hiteshkumar Patel is also among the bargain hunters of this stock. The company promoter has been busy doing bottom-finishing in the scrip since 15th November 2022 raising his stake in the FMCG company to 49.37 per cent. As per the information available on BSE website, Promoter & Director of the company Hiteshkumar Patel has hiked his stake in the company through open market purchase. Hiteshkumar picked up multiple chunks of shares since 15 November, 2022 and is still buying daily, brining his stake to 49.37 per cent. Advising bottom-finishing and reasons for rebound in this ₹10 stock from 52-week low, Ravi...

Keystone Realtors, which sells properties under brand Rustomjee, saw its IPO receive  Shares of Keystone Realtors Private Ltd made a market debut on Wednesday with the stock listing at ₹555 apiece on the NSE, a premium of more than 2% as compared to its IPO issue price of ₹541 per share. On the BSE, Keystone Realtors shares started trading at ₹555 apiece. Keystone Realtors, which sells properties under the brand 'Rustomjee', saw its initial public offering (IPO) receive 2 times subscription on the last day of offer that was open from Monday, November 14, 2022 to Wednesday, November 16, 2022. The public issue issue got bids for 1,73,72,367 shares against 86,47,858 shares on offer. Keystone Realtors IPO had a fresh issue of up to ₹560 crore and an offer for sale (OFS) of up to ₹75 crore. The price range for the initial share sale was fixed at ₹514-541 a share. Keystone Realtors collected a little over ₹190 crore from anchor investors. The company decided to allot 35.21 lakh equit...