Vistra price target raised to $241 from $145 at Jefferies
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Business Upturn
an hour ago
- Business Upturn
Stocks to watch on August 18: M&M, Ashok Leyland, Tata Chemicals, HDFC Bank, BPCL, Max Healthcare and more
Brokerage houses have released fresh updates and recommendations on key Indian stocks and sectors, which are likely to drive trading action today. Here are the highlights from fund house recommendations. Nomura has maintained a buy rating on Mahindra & Mahindra (M&M) with a target price of ₹3,736 per share, citing strong positioning in the SUV segment. On Ashok Leyland, BofA, Avendus and Motilal Oswal (MOSL) all maintained their buy calls with target prices of ₹146, ₹140, and ₹141 respectively, indicating continued optimism around the commercial vehicle cycle. Jefferies was more conservative, keeping a buy call but with a lower target price of ₹120, reflecting near-term constraints. Morgan Stanley (MS) retained an overweight stance on Tata Chemicals with a target price of ₹1,127, expecting the company to benefit from structural demand drivers. Jefferies reiterated its buy ratings on Aditya Birla Fashion & Retail (target ₹100), HDFC Bank (₹2,400), HDB Financial (₹900), BPCL (raised target ₹410), and Max Healthcare (₹1,500). It also maintained an underperform on Anupam Rasayan despite raising the target price to ₹625. In the financial space, Citi reiterated its buy on Shriram Finance with a target price of ₹750. On the macro front, the India ratings upgrade drew commentary from multiple brokerages. JP Morgan called it 'unambiguously positive' and a likely sentiment booster. Kotak Securities noted that the upgrade reflected fiscal consolidation and growth, though future improvements hinge on state finances. Citi said the earlier-than-expected move may not immediately trigger debt inflows, while UBS highlighted that it takes India one step above the lowest investment-grade and could benefit state-owned enterprises. On GST rate rationalisation, Jefferies expects the government to act in Q4CY25, noting $20 billion in savings from GST compensation provides the fiscal room. It said rate cuts may benefit cement, two-wheelers, consumer durables, insurance, garments, footwear, and passenger vehicles. Kotak estimated the move could deliver a ₹2.4 trillion demand boost, largely aiding autos and durables, while Citi said autos, consumer discretionary, staples, insurance and cement could see the highest impacts. Morgan Stanley added that autos remain key as they account for 14% of GST collections, with Hero, Eicher, Maruti and M&M positioned as beneficiaries. On Indian equities overall, Jefferies called India the best long-term structural story in Asia, while Morgan Stanley noted that thawing India-China ties could revive investments and supply chains. In other stock-specific views, UBS maintained a neutral on Vodafone Idea with a target of ₹8.5, while Citi kept a buy call at ₹10. UBS also maintained a neutral on Angel One (TP ₹2,935). MOSL retained a sell rating on Deepak Nitrite with a cut target of ₹1,630. With strong endorsements for autos, chemicals, financials and healthcare, along with optimism on GST reforms and the sovereign rating outlook, today's trading session is expected to see concentrated action in these names. Disclaimer: The brokerage views and target prices mentioned in this article are sourced directly from fund house and analyst reports. They are presented here for informational and news purposes only. Business Upturn does not provide investment advice or stock recommendations. Readers are advised to consult certified financial advisors before making any investment decisions. Ahmedabad Plane Crash News desk at
Yahoo
5 hours ago
- Yahoo
Bitcoin Mining Profitability Rose 2% in July Amid BTC Price Rally, Jefferies Says
Bitcoin (BTC) mining profitability increased 2% in July as the price of the world's largest cryptocurrency rose 7% while the network hashrate jumped 5%, investment bank Jefferies said in a research report on Friday. "We see positive BTC price momentum as most favorable for Galaxy's (GLXY) digital assets business, while miners fight a rising network hashrate," analyst Jonathan Petersen wrote. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. It is measured in exahashes per second (EH/s). U.S.-listed mining companies mined 3,622 bitcoin in July, versus 3,379 coins the month before, the report said, and these firms accounted for 26% of the total network compared to 25% in June. IREN (IREN) mined the most bitcoin, with 728 tokens, followed by MARA Holdings (MARA) with 703 BTC, the bank noted. Jefferies said MARA's energized hashrate remains the largest of the sector, at 58.9 EH/s at the end of July, with CleanSpark (CLSK) second with 50 EH/s. Revenue per exahash/second also increased. "A hypothetical one EH/s fleet of BTC miners would have generated ~$57k/day in revenue during July, vs ~$56k/day in June and ~$50k a year ago," the analyst in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Yahoo
AI Datacenters Are Raising Nearby Residents' Electric Bills
If you're looking for someone to blame for your ballooning energy bills, we have an increasingly familiar culprit: AI data centers. A new analysis of one the US's largest power grids, PJM, found that a rise in customer energy rates is directly attributable to the tremendous power demands of these data facilities that undergird services like OpenAI's ChatGPT, the Washington Post reports. Serving 67 million customers, the PJM region covers just over a dozen states, including Indiana, Maryland, Michigan, Pennsylvania, Virginia, as well as DC. Some of these states will see their energy bills surge by more than 20 percent this summer, Reuters reported; in Philadelphia, according to WaPo, the typical bill rose by about $17. And in Columbus, Ohio, prices spiked by $27. "We are seeing every region of the country experience really significant data center load growth," Abe Silverman, a researcher of energy markets at Johns Hopkins University, told WaPo. "It's putting enormous upward pressure on prices, both for transmission and for generation." Using Columbus as an example again, customers are paying an extra $240 per year due to the power demand of AI data centers, WaPo calculated based on figures from local utility company AEP Ohio. One of the reasons for the soaring costs is that utility companies — which maintain the infrastructure that delivers your power, rather than generating it — are paying more for "capacity," or the total power that's made available to them. Utility companies bid for capacity at an annual auction, and last year, per WaPo, these auction prices soared by an eye-watering 833 percent. They rose again this year by another 22 percent. According to an independent monitor's report, about three-quarters of the surge in capacity prices are because of planned or existing data centers. "There has been a paradigm shift in the market," Joseph Bowring, the author of the independent monitor's report, told WaPo. "These data centers could overwhelm the grid. The system cannot go on this way." Generative AI's energy appetite is so voracious that companies like Microsoft and Google are firing up entire nuclear power plants to supply their data centers. Even heavily polluting coal plants are being kept online as a stopgap until these new facilities come online. And the Trump administration wants to build even more coal plants. It's not just the prices you should worry about, though, or the harrowing environmental toll, ranging from titanic carbon emissions to vaporizing entire lakes' worth of water. The huge spike in power demands are also putting immense stress on the aging power grids themselves, which are failing during brutal heatwaves and frigid winters. Some states are pushing back. Ohio regulators recently ruled that data center companies must pay more for their energy to help make upgrades to the power grid, WaPo noted. But the story's different in Virginia, which has more data centers than any other state — 596, according to the website Data Center Map, with the overwhelming majority up North near DC. To keep its numero uno status, Virginia is offering huge tax breaks to data center companies — meaning they get a free ride, and the state's taxpayers, if the latest trends keep up, get bigger energy bills. "The Big Tech companies suck up the electricity, and we end up paying higher prices," an Ohio resident told WaPo. "I'm not comfortable with average customers subsidizing billion-dollar companies." More on AI: Scientists Just Found Something Unbelievably Grim About Pollution Generated by AI Solve the daily Crossword
