Market Bizzz

On Vi, it maintained its sell rating, while raising the price target to ₹2.5 from ₹2.2, implying a downside of 81.4% from Friday’s closing of ₹13.43. Vodafone shares plunged 11% on Friday.

Promoters held 66.56 per cent stake in the company as of 30-Jun-2024, while FIIs owned 10.87 per cent, DIIs 16.25 per cent.

Goldman Sachs has issued a sell call on Vodafone Idea with a target price of Rs 2.5, while maintaining a buy call on Bharti Airtel with a target price of Rs 1,700. Jefferies has maintained a buy rating on Bajaj Finance and a hold rating on M&M Finance, with target prices of Rs 8,410 and Rs 315 respectively.

We looked at the capital expenditure by both the central and state governments, which was partly affected by the parliamentary election. However, on a seasonally adjusted sequential basis, the momentum was still positive.

Reliance Industries’ board will consider issuing bonus shares in a 1:1 ratio, as announced by Chairman Mukesh Ambani during the company’s 47th AGM. The move aims to reward shareholders and enhance liquidity. RIL has a history of bonus issues and reported a record annual profit of Rs 79,020 crore in FY24.

GNFC, Gujarat State Petronet, and NBCC (India) are among 45 companies setting September 6 as the record date for dividend eligibility. Today is the last day to buy shares to qualify for these dividends. Investors must purchase shares at least one day before the ex-date to be eligible.

Even on the ferrous side, we believe something like a JSW Steel and Sail, they could do well. But yes, in the interim, there could be fall, which could be an opportunity to add for investors.

Equity indices saw a slight decline on Tuesday due to profit-taking in metal, oil, and IT shares amid weak global trends. Key stocks in focus included Samvardhana Motherson, Kaynes Technology, and HAL. Analysts suggest buying these stocks at dips for long-term gains as they exhibit potential for further upside.

Ajay Bagga, a market expert, discusses the positive outlook for FMCG, jewellery, and gold loan companies due to rising rural demand. He also highlights concerns about IPOs driven by liquidity and overvaluation. The cement sector faces challenges with overcapacity, while the media sector needs better governance and scale to grow.

Adani Enterprises Ltd. opens its first bond issuance for individual investors, aiming to raise up to 8 billion rupees. The issuance comes after a challenging period following a short seller attack last year. The funds will be used primarily to repay debt and for general corporate purposes.