Market Bizzz

Mayuresh Joshi from Marketsmith India discusses the current performance of IT stocks and advises on key stocks like Infosys and Persistent. He also recommends Adani Ports due to its promising outlook. Joshi highlights PSU banks’ potential, especially Bank of Baroda. Additionally, rural and infra stocks like Swaraj Engines and Azad Engineering are mentioned as promising investments.

Indian equity indices opened flat on Thursday, mirroring Asian markets, amid US policy concerns. Sensex and Nifty50 saw marginal gains. Adani Group stocks surged up to 9.3% following clarifications on a US indictment. HUL and ITC led Sensex gainers, while Infosys and Tech Mahindra declined.

Goldman Sachs maintains a Buy rating on Marico, citing resilience and growth despite inflation. Jefferies is bullish on Colgate-Palmolive, highlighting its expansion and growth strategy.

Motilal Oswal recommends buying L&T Finance, setting a target price of Rs 180. The company reported strong Q2 earnings and is strategically positioned for growth, despite moderating its MFI business due to industry stress. Analysts believe L&T Finance is well-placed to weather the current credit cycle and anticipate a stock rerating.

Ola Electric shares are in focus following the launch of two new affordable electric scooter ranges, the S1 Z and Gig, starting at Rs 39,000. The scooters feature removable batteries and are aimed at urban commuters and gig workers. Deliveries will begin in April 2025. Ola’s shares rose 5.7%, despite a 41% decline over the past three months, with a market cap of Rs 32,406 crore.

Hyundai Motor is attracting attention from global brokerage firms like JPMorgan and Morgan Stanley, both giving it an ‘Overweight’ rating. They predict substantial returns for investors, setting target prices of Rs 2,200 and Rs 2,418 respectively. Hyundai’s strong SUV and EV portfolio, coupled with India’s growing auto market and premiumization trend, positions it for success.

Shares of UltraTech Cement are expected to stay in focus after the company’s board approved raising up to Rs 1,000 crore through the allotment of unsecured, redeemable non-convertible debentures (NCDs) on November 26, 2024.

HDFC AMC’s Roshi Jain believes near-term market volatility is not a concern for long-term investors. Indian markets offer opportunities. Jain expects earnings growth to remain in double digits. Government capex may slow, but private sector investment is picking up. The auto sector and banks are promising areas for growth. India’s growth story remains intact.

Hindustan Unilever’s board has approved the demerger of its ice cream business, including brands like Kwality Wall’s and Magnum, into a separate listed entity. Current HUL shareholders will receive shares in the new company. This decision follows a similar move by HUL’s UK parent and aims to maximize shareholder value, given the ice cream business’s distinct operating model.

S Naren, a top executive at ICICI Prudential AMC, shares his approach to investing in new companies. He waits to see how they perform after their IPO. He is also excited about a new fund focused on investing in low-risk stocks, especially from the Nifty index. This fund aims to provide steady returns for investors.