US Stock Reports, Quotes and News
Renu Baid Pugalia of IIFL Institutional Equities discusses the earnings upgrades for Larsen & Toubro, ABB, and Siemens in the capital goods sector, highlighting the valuation struggles. She also mentions the positive outlook for MNC subsidiaries like Siemens and identifies potential value in companies such as Cummins and Transformers & Rectifiers.
On Tuesday, Nifty weekly contracts had the highest open interest at 23000 for Calls and 22000 for Puts while monthly contracts had the highest open interest at 23000 for Calls and 22000 for Puts. The highest new OI addition was seen at 22400 for Calls and 22100 for Puts in weekly and at 22400 for Calls and 22100 for Puts in monthly contracts.
Kenneth Andrade anticipates significant growth in the power market, emphasizing massive investments in energy capex equivalent to India\’s GDP over the next 15 years. He discusses the impact on various sectors and the rationale behind his pharma holdings, focusing on profitability potential. Andrade says he is avoiding banks because he chooses to be on the asset side and not on the liability side.
Sterling & Wilson Renewable Energy Limited (SWREL) has posted a net profit of Rs 1.40 crore during the quarter ended March 2024 on account of increased income.
19 companies, incl. Infosys, Bajaj Auto, HDFC Life, to announce March quarter results today. Infosys expects 0.4% revenue decline, flat profit growth. Bajaj Auto sees 25% volume growth.
The market capitalisation (mcap) of BSE-listed companies was eroded by Rs 7,93,529.61 crore to Rs 3,94,25,823.46 (USD 4.75 trillion) in three days.
Morgan Stanley\’s first-quarter profit beat estimates on Tuesday, fueled by a resurgence in investment banking led by equity underwriting where revenue more than doubled, sending its shares up 3.8% before the bell.
Sudip Bandyopadhyay shares insights on various sectors. Recommends quality stocks like Larsen & Toubro and highlights optimism for TCS, concerns in FMCG & chemicals, and potential in commercial real estate and metal sectors. He further says Monday\’s correction and maybe a few more days’ corrections which we will see, provides a good opportunity to buy some of the quality stocks which have corrected.
Rupesh D Sankhe discusses the strong fundamentals in the power sector, with some companies facing stretched valuations. Opportunities exist in renewable energy sectors and ancillary companies like smart meter manufacturers and HVDC companies. Sankhe says: \”With the kind of investment that is happening on the solar, wind side, companies like Suzon Energy, Inox Wind will benefit from the RTC tenders as well as the wind auction which is happening.\”
Fairfax\’s Odyssey Reinsurance offers Rs 500 crore debt to IIFL Finance for gold loans. Prem Watsa\’s subsidiary provides secured, rated bonds at 9.5% coupon. ET\’s comment requests to IIFL Finance and Fairfax go unanswered.
Vipul Bhowar\’s insights suggest continued market growth driven by government spending and private investment. Factors like inflation, oil prices, and equity market reactions play crucial roles in shaping India\’s economic landscape. Bhowar also says: \”The rise in SIPs shows a strong focus on retail investor growth, more so a shift towards small cities that contribute to the industry growth and showcase a broader financialisation of savings in smaller towns.\”