Explained: Why HCLTech shares are down 4% today
advertisement
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
5 minutes ago
- Economic Times
Tata Motors shares can fall to Rs 550, predicts Jefferies. Should you sell?
Global brokerage Jefferies warns that Tata Motors' share price could drop to Rs 550, citing a 37–41% year-on-year (YoY) decline in Q1 EBITDA and pre-ex PBT, which also came in 13–22% below its estimates (JEFe). ADVERTISEMENT 'We cut FY26-28E EPS by 8-15% on lower volumes and margins for JLR and India PVs. We expect a 19% EPS decline in FY26E, followed by just 8% CAGR over FY26-28E. Our FY27-28 EPS estimates are 12-21% below Street. We see multiple above-mentioned challenges across business; and we are unconvinced about the Iveco acquisition (A Risky Detour). TTMT stock has lagged Nifty-50 by 21% since Jan (Downgrade to UNPF), and we retain UNPF with a revised Rs 550 PT (earlier Rs 600). We prefer MM & TVSL in autos,' according to a report by the brokerage. Also Read | How to choose a mutual fund: A beginner's simple step-by-step guide The report mentioned that fall in Q1 EBITDA below JEFe was led by lower margins in JLR and India PVs. JLR wholesales fell 11% YoY with lower sales across the US (tariff impact), UK, and Europe. India PV volumes fell 10% YoY, and EBITDA declined 37% YoY as margin fell to 4.0% (14-qtr low). India CV volumes also fell 6% YoY, but EBITDA was flat YoY as margin rose 60bp YoY to 12.2%, the Jefferies report the rising headwinds at JLR, the global brokerage said while the US trade deals with UK/EU at 10-15% tariffs bring some relief, we believe JLR will continue to face severe business pressures due to rising competition and additional 10% consumption tax in China, high customer acquisition cost & warranty expenses, and BEV transition, while its key models (RR, RR Sport and Defender) are now 2-4 years old. ADVERTISEMENT After a strong 45% CAGR over FY21-23, truck industry wholesales were flat in FY24 and fell 4% YoY in FY25/1QFY26; we expect a modest 3% CAGR over FY25-28E, the report said. Unlock 500+ Stock Recos on App On the long-term view, the Jefferies report said that JLR is facing pressures including increased competition and tariffs in China, higher warranty costs and BEV transition, while its key models are starting to age, In India, TTMT's PV market share is slipping, and CV demand is weak, and we are unconvinced on Iveco acquisition too. ADVERTISEMENT The company reported a steep 63% year-on-year (YoY) decline in consolidated net profit for the June quarter (Q1FY26). For the quarter ended June 2025, Tata Motors' consolidated net profit fell to Rs 3,924 crore from Rs 10,514 crore in the same period last year. Also Read | Parag Parikh Flexi Cap Fund increase stake in ITC and 11 other stocks in July The company's total revenue from operations stood at Rs 1.04 lakh crore, marginally down 0.3% from Rs 1.07 lakh crore recorded in the corresponding quarter of the previous financial year. ADVERTISEMENT The company attributed the moderation in performance to a challenging demand environment and stated it will focus on strengthening its business fundamentals. Measures outlined include mitigating tariff impacts through brand leverage, improving product mix, and implementing targeted actions to enhance contribution margins. In the current calendar year so far, the shares of Tata Motors have fallen by 13% and in the last one year have gone down by 39.98%. (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
5 minutes ago
- Economic Times
Commodity Radar: How to trade gold ahead of the Trump-Putin meeting on August 15?
Gold prices slipped sharply on Monday in the opening trade, falling by Rs 900 or 1% per 10 gram, tracking movement in the international markets. The traders booked profit ahead of the crucial meeting between US President Donald Trump and Russian President Vladimir Putin scheduled on August 15 in Alaska. A resolution to Russia's ongoing war with Ukraine could dampen the safe haven appeal of the yellow, triggering profit taking. ADVERTISEMENT Gold's October contracts were trading at Rs 1,00,958, down from last week's all-time high of Rs 1,02,250. On the COMEX, the fall was even sharper as this bullion metal fell 1.5% to $3,438.40 per troy ounce. Commenting on the current trends, Jateen Trivedi, Vice President - Commodity Research Cat LKP Securities said that gold has been showing strength over the past couple of weeks as softer US non-farm payroll data and higher unemployment figures signaled a potential September rate cut by the Federal Reserve. Additionally, fresh tariff measures by Trump have increased safe-haven demand, he said. Trivedi sees the upcoming Trump–Putin meeting on August 15 as an important event as a resolution to the Russia–Ukraine conflict could trigger profit booking in gold. Among the domestic factors, rupee weakness against the dollar amid the ongoing tariff uncertainty may lend additional support to domestic gold prices. ADVERTISEMENT Gold continued its positive momentum last week, closing above the crucial Rs 1,01,700 zone. On the upside, immediate resistance is seen at Rs 1,02,700, followed by Rs 1,03,200. On the downside, strong support lies at Rs 1,01,200 and Rs 1,00,500. A sustained close above Rs 1,02,700 could open the way toward Rs 1,03,500 in the near term. ADVERTISEMENT The RSI (14) is currently at 64.70, indicating bullish momentum without yet being in overbought territory. This suggests there is room for further upside before profit booking pressure action is trading near the upper Bollinger band, reflecting strong buying interest. However, being close to the upper band also hints at possible short-term consolidation if profit booking emerges. ADVERTISEMENT The short-term EMA (8) is trading above the medium-term EMA (21), confirming bullish crossover and supporting a positive bias for the week ahead. ADVERTISEMENT MACD is in the positive territory and widening, indicating strong bullish momentum and supporting further upside overall setup remains bullish, said Trivedi, recommending a buy on dips near Rs 1,01,200 with a stop loss at Rs 1,00,450 on a closing for the week are Rs 1,02,000 and Rs 1,02,500. In Trivedi's view, any sustained move above Rs 1,03,200 could see an extended rally toward Rs 1,03,500. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
5 minutes ago
- Economic Times
Shreeji Shipping sets IPO price band at Rs 240-252/ share
Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, on Monday announced a price band of Rs 240 to Rs 252 per share for its Rs 411-crore initial public offering (IPO). ADVERTISEMENT The company's maiden public issue would be available for public subscription from August 19 to 21, and the one-day bidding for anchor investors is scheduled for August 18, according to a public announcement made by Shreeji Shipping. Shreeji Shipping Global's IPO is entirely a fresh issue of 1.63 crore equity shares with no offer-for-sale (OFS) component. At the upper-end of the price band, the company is expected to garner Rs 411 crore through the public issue. The company is planning to use Rs 251.2 crore out of the IPO proceeds for acquisition of dry bulk carriers in the supramax category in the secondary market, and Rs 23 crore for repaying debt. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of India. ADVERTISEMENT According to a D&B Report, cargo handled at ports in India is expected to grow at an annual rate of 10.80 per cent to 2,849 MMTs by fiscal year 2030, from 1,540 million metric tons (MMTs) in fiscal 2024. Unlock 500+ Stock Recos on App Ports in Gujarat are set to see even faster growth, with cargo expected to rise to 720 MMTs by fiscal 2030, from 317.20 MMTs in fiscal 2024, representing a 17.50 per cent annual growth rate. ADVERTISEMENT India has a long coastline with 12 major ports and 217 minor ports. Among these, 78 non-major ports handle cargo, while others are used for fishing. Beeline Capital Advisors Private Ltd and Elara Capital (India) Private Ltd are the book-running lead managers to Shreeji Shipping's public issue. ADVERTISEMENT Shares of the company are expected to begin trading on the bourses from August 26. So far this year, 44 mainboard companies have launched their IPOs. In addition, two more are lined up -- BlueStone Jewellery and Lifestyle opens its issue on August 11, followed by agro-based firm Regaal Resources on August 12. (You can now subscribe to our ETMarkets WhatsApp channel)
