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Banks remain top sector bet, see value in IT at current valuations: UTI AMC's Vetri Subramanian
UTI AMC CEO Vetri Subramanian said banking and financial stocks remain his highest-conviction investment idea as favourable valuations, healthy balance sheets and sustained credit growth could support earnings growth and a valuation re-rating. He also said current IT valuations justify staying invested, with AI integration likely to create opportunities for Indian technology companies, while urging caution on sectors trading at elevated valuations such as defence.
Hot Stocks: 2 stocks that may give over 21% returns
Brokerages initiated coverage on Syrma SGS and Vedanta Aluminium with buy ratings. HSBC set a price target of Rs 1,750 for Syrma SGS, implying a 21.4% upside. Motilal Oswal Financial set a Rs 540 target for Vedanta Aluminium, indicating a 21.6% potential gain. These targets suggest significant returns over current trading prices. Both companies are seen as having strong growth prospects and structural advantages.
TCS shares react to Q1 results today; Motilal Oswal projects 15% upside
Motilal Oswal is working with 2.5% and 3.2% organic constant currency growth for TCS for financial year 2027 and 2028 respectively. And therefore, on these assumptions, it sees limited downside to the stock for now.
Toll-cum-annuity model for NH bids put in fast lane
The Centre plans to invite bids for national highway projects using a new toll-cum-annuity model. This hybrid approach combines build-operate-transfer and hybrid annuity model features. The revised agreement aims to optimise risk allocation and boost investor confidence significantly. The government will provide upfront financial support for certain projects with viability gap funding. This initiative seeks to revive private sector participation in infrastructure development.
Proposals invited for coal gasification projects
The coal ministry has invited applications for a ₹37,500 crore scheme. This initiative promotes surface coal and lignite gasification projects across India. The government aims to convert domestic coal into higher-value fuels and chemicals. Eligible developers can receive financial support for commercial-scale projects. Applications are due by September 7, with a pre-application conference on July 20.
Power transmission projects to face execution risks on land acquisition, regulatory approval challenges: Icra
Power transmission projects face significant execution risks and delays. Land acquisition and regulatory approvals hinder timely project completion. These delays impact renewable energy developers and their financial returns. The sector expects substantial capacity additions by 2032. However, execution challenges persist for future projects.
PC Jeweller jumps 6% after repaying 2 consortium banks; eyes debt-free status by Q2 FY27
PC Jeweller shares climbed 6.5% after the company said it had repaid all outstanding debt owed to two of its 14 consortium banks under a September 2024 settlement agreement. Calling it a key milestone in its turnaround, the jeweller said it expects to clear the remaining debt and achieve debt-free status during the current quarter, strengthening its financial position.
M3M India lines up Rs 2,500 crore for land acquisition
M3M India will invest Rs 2,500 crore in land acquisition over coming months. The company plans to accelerate construction of its extensive under-development portfolio. This significant investment will be funded by customer receivables and existing cash reserves. M3M India aims to expand its presence in Noida through upcoming land auctions. The developer is also completing several residential and commercial projects this financial year.
Larsen & Toubro receives issuer rating of 'Baa1; Stable' from Moody's
Larsen & Toubro (L&T) has secured a 'Baa1' long term issuer rating with a 'Stable' outlook from Moody's Ratings, reinforcing the Group's robust credit profile and financial resilience.
Eternal stock up 2%; Motilal Oswal retains buy for 31% upside
Motilal Oswal Financial Services has reiterated its 'Buy' rating on Eternal stock for a target price of ₹380, implying an upside of 31 per cent from its current price.
Moody's assigns L&T 'Baa1' issuer rating with stable outlook
Larsen & Toubro secured a Baa1 long-term issuer rating from Moody's Ratings. This investment-grade credit profile reflects the company's strong financial resilience and management. The stable outlook anticipates continued fiscal discipline and healthy operating margins. L&T Hydrocarbon Saudi Company also received a matching Baa1 rating from Moody's. This reflects the subsidiary's integration and the strategic importance of West Asia operations.
Jindal Stainless appoints former Adani Energy executive Kunjal Mehta as CFO
Jindal Stainless, India's leading stainless steel maker, has appointed Kunjal Mehta, formerly of Adani Energy Solutions, as its new Chief Financial Officer, effective June 25. Mehta, a seasoned finance professional with extensive experience in corporate finance and value creation, is expected to bolster the company's financial strength and growth. Jindal Stainless is currently expanding its production capacity and global reach.