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Investor wealth jumps Rs 3.98 lakh crore as markets make strong comeback
New Delhi: Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government. The BSE 30-share Sensex ended the day 1,265.66 points or 4.23 per cent higher at 31,159.62. During the day, it zoomed 1,331.24 points to 31,225.20.

Led by the rally in equities, the market

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Select companies likely to recover fast after lockdownSelect companies likely to recover fast after lockdownSelect companies likely to recover fast after lockdown
Select companies likely to recover fast after lockdown
Pharmaceuticals and consumer staples stocks, being essentials, are expected to do well during the ongoing pandemic. But select stocks in power utilities, telecom, city gas distributors and hospitals could also benefit as they are likely to see a quick recovery after the lockdown ends, according to CLSA. Here’s why CLSA expects these stocks to see a
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Buy ITC, target price Rs 200: Phillip Capital
Phillip Capital has upgraded rating on ITC to buy and revised target price to Rs 200 from Rs 215. The stock ended down 1.6 per cent at Rs 178.60 on Wednesday while the BSE Sensex closed 173.25 points down (-0.58 per cent) at 29,893.96.

ITC Ltd., incorporated in 1910, has a market cap of Rs 219539.25 crore.

Investment Rationale

Inexpensive consumer

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RBI expects rupee to hover around 75/dollar; Indian crude basket at $35/bbl in FY21
Mumbai: The Reserve Bank expects the value of the domestic currency to hover around Rs 75 to a dollar and Indian crude basket to about USD 35 per barrel during 2020-21. The rupee came under intensified and sustained depreciation pressures from mid-January, reflecting a generalised weakening of emerging market currencies amid flights to safety, RBI
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Buzzing stocks: Vodafone Idea, SBI, HDFC Bank, Sun Pharma
NEW DELHI: Vodafone Idea with over 0.70 crore shares changing hands was leading among the most traded stocks on NSE on Thursday.

Shares of SBI (number of shares traded: 0.16 crore), Rash Chem Fertilizer (number of shares traded: 0.15 crore), Cadila Healthcare (number of shares traded: 0.12 crore), Vedanta (number of shares traded: 0.12 crore),

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Buy UPL, target price Rs 450: HSBC
HSBC has maintained buy rating on UPL and cut target price to Rs 450 from Rs 680. The stock ended down 1.1 per cent at Rs 320.10 on Wednesday while the BSE Sensex closed 173.25 points down (-0.58 per cent) at 29,893.96.

UPL Ltd., incorporated in 1985, has a market cap of Rs 24457.10 crore. Investment Rationale

Covid-19 remains a blind spot for now

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NSE to discontinue trading in Nifty IT index derivatives

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UBS sees Nifty at 6,000 by March if stress aggravates
MUMBAI: UBS sees the Nifty at 6,000 by March-end assuming coronavirus-related disruptions continue till September. The target is about 31% below the index’s closing level of 8,748.75 on Wednesday.

“6,000 assumes 14% decline in earnings in fiscal year 2021 and GDP also declining YoY in FY21, and a PE multiple of 12 times, that’s what the downside s

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Buy Varroc Engineering, target price Rs 520: Citigroup
Citigroup has maintained buy rating on Varroc Engineering with a target price of Rs 520. The stock ended down 1.4 per cent at Rs 126.55 on Wednesday while the BSE Sensex closed 173.25 points down (-0.58 per cent) at 29,893.96.

Varroc Engineering Ltd., incorporated in 1988, has a market cap of Rs 1706.04 crore.

Investment Rationale

Varroc has been

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F O: Bulls finally in charge, but Bank Nifty upside looks capped
By Chandan Taparia

Nifty started Thursday’s session on a positive note on the back of favourable global clues. The index remained quite volatile in a narrow range, but concluded the session near to highest point of the day, marking its highest daily close in 16 sessions.

The index ended the truncated week a tad above the 9,100 mark, and formed a

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Buy ICICI Securities, target price Rs 310: Jayesh Bhanushali

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ET Intelligence Group: After an overweight stance for eight years in a row, the fund managers focusing on emerging markets (EMs) have turned neutral to Indian equities following rising uncertainty over the country’s economic growth amid the Covid-19 pandemic. India has a weight of 9.1 per cent in the MSCI EM index. A neutral stance means fund
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Market Movers: M M, Maruti, Cipla soar; 19 stocks turn -lsquo;overbought-
Short covering and fear of missing out resulted in heavy buying in blue chips on Thursday, even when research agencies projected grim economic outlook for India and the rest of the world.

Auto scrips were in huge demand. Maruti Suzuki saw its best day ever jumping 13 per cent while M-M soared 17 per cent. Cipla and some other pharma names also

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Buy Cholamandalam Investment Finance Company, target price Rs 160: Jayesh Bhanushali

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Buy Sun Pharma, target price Rs 450: Edelweiss

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Tech View: Nifty forms Long Bullish Candle, may be headed to 9,300-600
NEW DELHI: Nifty reclaimed the 9,100 mark in style on Thursday. In the process, the index decisively took out its 20-day moving average and formed a Long Bullish Candle on the daily and weekly charts.

Analysts said the index has the potential to move towards 9,300 level, with the 8,800 level likely to offer support in the near term.

Rajesh Palviya

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Asian stocks gain on hopes pandemic is approaching peak
TOKYO/WASHINGTON: Asian shares rose on Thursday on hopes the Covid-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 per cent, following a strong Wall Street

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Recessions usually lead to Darwinian conclusions — some survive them, while many don’t. But those that do have all the key attributes of the fittest — strong balance sheets and adequate cash reserves. And their owners might want to own more of themselves through buybacks.

Companies such as ITC, Maruti, Eicher, Bajaj Auto, ACC, Cummins, M-M,

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Cognizant withdraws FY20 guidance, draws on credit line to boost financial flexibility
Bengaluru/Mumbai: Cognizant will miss the top end of its first-quarter revenue outlook and the IT services firm withdrew its full-year guidance, as the Covid-19 pandemic takes a toll on its business. The company also drew down on $1.74 billion in debt to boost its financial flexibility and has stopped share buyback.

Revenue in the first quarter is

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Mumbai | New Delhi: Oil majors Reliance Industries, IndianOil, HPCL and BPCL are on a debt-raising spree and have raised Rs 78,000 crore in short-term debt using commercial papers (CPs) in nine weeks to pay for costly crude purchased before oil prices crashed, while sales revenue has fallen drastically during the lockdown.

State-owned firms are

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Bulls aim for 9,000 at weekly expiry
The market could test the 9,000 resistance in the very near term, provisional options data for April 9 expiry showed after Tuesday’s monster 9% Nifty rally to 8,792.

The open interest put call ratio (PCR) for April 9 expiry jumped to 1.5 on Tuesday from 0.82 on Friday as bulls sold more put options while bears cut their outstanding call positions.

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Sensex soars 1,266 points, snaps 7-week losing streak; Rs 4 lakh crore added
Mumbai: Benchmark equity indices snapped their seven-week losing streak, rallying over 4 per cent in Thursday's session, mirroring gains in global markets. For the week, Sensex and Nifty rose nearly 10 per cent.

Hopes of a second stimulus package in coming days also bolstered the sentiment on Street. According to a Reuters report, the package will

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Buy Bharti Airtel, target price Rs 590: CLSA
CLSA has maintained buy rating on Bharti Airtel with Rs 590 target price. The stock ended down1.8 per cent at Rs 461.60 on Wednesday while the BSE Sensex closed 173.25 points down (-0.58 per cent) at 29,893.96.

Bharti Airtel Ltd., incorporated in 1995, has a market cap of Rs 251828.53 crore.

Investment Rationale

Even without the current traffic

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Buy JSW Steel, target price Rs 180: Edelweiss

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By Enda Curran, Frank Connelly and Suzi Ring

Officials from Rome to Washington are urgently mapping out plans to loosen lockdowns and begin rebooting their economies even as the coronavirus pandemic still rages across swaths of the globe.

Trouble is, there’s no master plan.

The juggling act for policy makers will be to reopen without triggering a

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Lockdown coming at end of fiscal means a washed out fourth quarter for insurers
Mumbai: Insurers are likely to have their worst fiscal fourth quarter in nearly a decade as their key catchment period of the last ten days towards the fiscal year end ended up being a washout with the national lockdown.

Sale of policies towards the end of March almost came to a halt with few walking into bank branches to purchase policies to save

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Asian shares step back, oil rebounds in volatile trade
SYDNEY/WASHINGTON: Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.

Not helping sentiment was wild volatility in the oil market, where prices rebounded in early Asia after sliding on Tuesday

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Buy M M Financial, target price Rs 225: JM Financial
JM Financial has given a buy rating to M-M Financial Services (MMFS) with a SOTP-based target price of Rs 225.

The NBFC is facing the twin challenges of growth and collections as well as asset quality in a seasonally weak first half which has been compounded by the Covid-19 outbreak and the consequent lockdown. The brokerage believes that the

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ET Intelligence Group: The potential revenue loss for the top five information technology (IT) companies in the March 2020 quarter due to the Covid-19 pandemic may be capped at 2 per cent or around $300 million (approximately Rs 2,200 crore), shows an ET Intelligence Group analysis.

Historically, these companies have posted 1 per cent-2.5 per cent

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Buy United Spirits, target price Rs 560: Edelweiss

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