Latest news with #Nomura
Business Recorder
an hour ago
- Business
- Business Recorder
China, HK shares extend rally on Tibet dam project boost
SHANGHAI: China stocks closed at an eight-month high on Tuesday, while Hong Kong shares extended gains to a multi-year peak, driven by construction and power firms after work began on a major dam project in Tibet, billed as the world's largest. China's blue-chip CSI300 Index ended 0.8% higher, while the Shanghai Composite Index gained 0.6%. Hong Kong benchmark Hang Seng added 0.5%. The Hang Seng Index rose to 25,130, the highest since November 2021, while the CSI 300 Index touched its strongest point since November 2024. Some construction and power stocks extended rallies after China announced over the weekend the start of construction on a $170 billion hydropower dam in Tibet. Shanghai-listed Anhui Conch Cement and Power Construction Co. of China both hit the daily maximum of 10%. 'Investors usually don't care much about the real economy in such a bull market, especially with the rise of their confidence in Beijing's capability in handling any economic cracks,' said Ting Lu, chief China economist at Nomura. Easing US-China tensions, Beijing's push for long-term funds to invest in stocks and renewed confidence in the country's manufacturing sector lifted sentiment, Lu noted. 'However, if stock markets lose steam, investors might shift more attention to the real economy, which will likely face some challenges in the second half of this year,' Lu said. Meanwhile, the CSI Coal Index surged nearly 7%, while liquor shares rose more than 3%. US Treasury Secretary Scott Bessent said on Monday that Washington and Beijing would hold talks 'in the very near future,' with discussions potentially covering China's purchases of Iranian and Russian oil.
News18
13 hours ago
- Business
- News18
Buy This Cement Stock For Strong Returns Ahead, 38 Brokerages Are Betting Big On It
Last Updated: Nomura has retained its 'buy' call on UltraTech Cement with a target of Rs 13,900, raising EBITDA estimates by 11% for FY26 and 5% for FY27, citing strong sector position UltraTech Cement has received a strong vote of confidence from brokerage firms after its June quarter results. Backed by the Aditya Birla Group, the company saw several analysts revise their target prices upward. Of the 46 analysts tracking the stock, 38 have recommended a 'buy', signalling bullish sentiment around its future prospects. On Tuesday, July 22, UltraTech Cement's stock opened higher but experienced a decline during intraday trading. At the time of writing, it was trading at Rs 12,407, down 1.35 percent on the NSE. The previous day, the stock had reached a 52-week high of Rs 12,714 during day trading. Over the past month, UltraTech's stock has delivered an eight percent return to investors. In the last six months, it has risen by approximately 16 percent, and in 2025, the stock price has increased by 8.33 percent, yielding a 7.68 percent return over the past year. The company's market capitalization has now reached Rs 3.65 lakh crore. What's The Target Price For UltraTech Shares? Out of 46 analysts tracking UltraTech Cement, 38 have issued a 'Buy' rating, while 4 each have recommended 'Hold' and 'Sell', reflecting strong bullish sentiment among brokerages. Global brokerage firm Nomura has maintained its 'buy' rating on UltraTech with a target price of Rs 13,900, citing the company's strong position in the cement sector. Nomura has raised its EBITDA estimates by 11 percent for FY 2026 and by 5 percent for FY27. Jefferies also continues to favour UltraTech as its top pick, increasing its target price from Rs 14,000 to Rs 14,700, and recommending a buy. DM Capital has given a 'buy' rating with a target price of Rs 13,800. Meanwhile, Nuvama has retained its 'hold' rating but raised the target price from Rs 11,859 to Rs 13,628. How Did UltraTech Cement Perform This Quarter? UltraTech Cement's quarterly results for April-June 2025 showed a net consolidated profit of Rs 2,220.91 crore, a 48.7 percent increase from Rs 1,493.45 crore a year ago. The company's EBITDA grew by 44 percent year-on-year to Rs 4,591 crore for the quarter, with an operating margin of 21 percent, up from 16 percent in the same quarter of the previous year. Consolidated revenue from operations increased by 13 percent year-on-year to Rs 21,275.45 crore. However, net consolidated profit for the year fell to Rs 6,039.64 crore from Rs 7,003.96 crore the previous year. UltraTech's Business Outlook Despite a slight slowdown in demand during the June quarter, UltraTech's management remains optimistic. The Aditya Birla Group's cement company has set a target of 10 percent volume growth by FY26. The company notes that the South Indian market is now growing strongly and is expected to soon be on par with North India. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. view comments First Published: July 22, 2025, 18:19 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Recorder
19 hours ago
- Business
- Business Recorder
China, Hong Kong shares extend rally on Tibet dam project boost
SHANGHAI: China stocks climbed to an eight-month high on Tuesday, while Hong Kong shares extended gains to a multi-year peak, driven by construction and power firms after work began on a major dam project in Tibet, billed as the world's largest. China's blue-chip CSI300 Index climbed 0.4% by the lunch break, while the Shanghai Composite Index gained 0.3%. Hong Kong benchmark Hang Seng added 0.3%. The Hang Seng Index rose to 25,120, the highest since November 2021, while the CSI 300 Index touched its strongest point since November 2024. Some construction and power stocks extended rallies after China announced over the weekend the start of construction on a $170 billion hydropower dam in Tibet. Shanghai-listed Anhui Conch Cement jumped more than 6%, while Power Construction Co. of China hit the daily maximum of 10%. 'Investors usually don't care much about the real economy in such a bull market, especially with the rise of their confidence in Beijing's capability in handling any economic cracks,' said Ting Lu, chief China economist at Nomura. Easing U.S.-China tensions, Beijing's push for long-term funds to invest in stocks and renewed confidence in the country's manufacturing sector lifted sentiment, Lu noted. 'However, if stock markets lose steam, investors might shift more attention to the real economy, which will likely face some challenges in the second half of this year,' Lu said. Meanwhile, the CSI Banks Index lost 1.1%, while healthcare shares rose 1%.
Time of India
20 hours ago
- Business
- Time of India
HDFC Bank shares jump 3% in 2 days after Q1 results. 5 reasons behind the move
HDFC Bank shares are witnessing strong investor interest after a strong Q1FY26 earnings, coupled with its maiden bonus issue and special dividend announcement. Shares of India's largest private bank have jumped 3% over the last 2 trading sessions. The bank's performance, supported by healthy loan growth , stable asset quality, and upbeat commentary from brokerages, has reinforced its position as a top pick in the banking sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Despite concerns over net interest margin (NIM) pressures and macroeconomic challenges, multiple global and domestic brokerages have reiterated their positive outlook on HDFC Bank, citing its strong balance sheet, improving credit demand, and expected benefits from merger synergies. Here's a breakdown of key reasons why the stock is gaining momentum: Strong Q1 results with 12% net profit growth HDFC Bank reported a 12% year-on-year rise in net profit to Rs 18,155 crore for the June quarter. Net interest income (NII) rose 5.4% YoY to Rs 31,440 crore. The bank's net interest margin moderated slightly to 3.35% from 3.46% in the previous quarter, but the moderation was in line with street expectations. Live Events Brokerages like Nomura and Goldman Sachs expect NIM pressures to ease going forward. Goldman noted that 'pick up in loan growth should drive improvement in operating leverage', while Nomura pointed out that the bank created floating provisions of Rs 90 billion and contingent provisions of Rs 17 billion during the quarter, strengthening its buffer position. Maiden bonus issue, dividend announcement HDFC Bank announced its first-ever bonus issue in a 1:1 ratio, sparking strong retail investor interest. Each shareholder will receive one bonus share for every existing fully paid-up share held. The record date for the bonus issue entitlement is August 27, 2025. Additionally, the board approved a special interim dividend of Rs 5 per share, with the record date set as July 25 and payouts scheduled for August 11. These corporate actions further buoyed investor sentiment. Improving credit growth outlook Loan growth is expected to pick up in the second half of FY26, driven by strong demand in retail, SME, and housing segments, supported by festive demand and favourable policy measures. Jefferies reported that 'management expects retail credit demand to improve, aided by benefits from cut in tax rates, interest rates as well as regulatory easing.' According to Motilal Oswal, which reiterated its 'Buy' rating on the stock, the June quarter was steady, with the bank deploying HDB gains to lift floating and contingent provisions. The brokerage expects FY27E return on assets (RoA) and return on equity (RoE) at 1.9% and 14.9% respectively. Multiple brokerages raise target prices Brokerages across the board raised their target prices for HDFC Bank post Q1 results. Jefferies increased its price target to Rs 2,400 from Rs 2,340, while Goldman Sachs now values the stock at Rs 2,327. CLSA and Motilal Oswal pegged their target at Rs 2,300, and Nomura raised its valuation to Rs 2,190. CLSA maintained its 'Outperform' rating, noting only an 11 basis point moderation in core NIMs, which was better than expectations. It also praised the bank's 'strong quarterly average deposit growth (both CASA and total)' and 'flat opex QoQ—another positive from the results.' Steady fundamentals backed by merger synergies Brokerages are of the view that HDFC Bank's underlying fundamentals remain strong. The bank is well-positioned to deliver stronger growth in the second half of FY26, aided by improving loan demand, easing regulatory constraints, and monetisation of merger synergies. Analysts believe that the bank's focus on deposit growth, reduced credit-deposit ratio, and provision buffers further solidify its long-term investment case. With multiple catalysts, including its maiden bonus issue, special dividend, healthy Q1FY26 results, positive credit growth outlook, and brokerages raising target prices, HDFC Bank shares are attracting sustained investor interest. Also read: Why are short-term investors favoring ICICI Bank over HDFC Bank? Analysts continue to back the lender as a top sector pick, expecting operational metrics to improve over the coming quarters. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Business Standard
21 hours ago
- Business
- Business Standard
Oberoi Realty shares dip 3% after weak Q1; should you buy, sell or hold?
Oberoi Realty share price today: Shares of the real estate developer, Oberoi Realty, dropped 2.9 per cent on Tuesday, July 22, 2025, recording an intraday low of ₹1,781 after the company reported weak earnings for the first quarter of financial year 2025-2026 (Q1FY26). At 9:30 AM, Oberoi Realty shares were trading at ₹1,808.80, down by 1.41 per cent on the National Stock Exchange. In comparison, NSE Nifty was trading in green, up by just 0.15 per cent or 38 points, quoting 25,128.65. The total market capitalisation of the company stood at ₹65,604.75 crore. Oberoi Realty Q1FY26 earnings The real estate developer reported subdued results for the quarter ending June 30, 2025, with revenue from operations down by 29.71 per cent to ₹987.6 crore, from ₹1,405.16 crore reported in the first quarter of the previous financial year. Oberoi Realty's profit after tax (PAT) figure also took a hit during the first quarter of FY26 to ₹421 crore, as against ₹584.5 crore recorded in the corresponding quarter of the previous financial year. During Q1FY26, the real estate firm recorded bookings for 181 units, covering a total carpet area of 3.53 lakh square feet. The gross booking value amounted to ₹1,639 crore. That apart, the company has commenced bookings for Elysian Tower D, Oberoi Garden City, Goregaon. "Demand for luxury homes remains strong, fuelled by rising aspirations and a growing desire for an enhanced lifestyle. We are pleased to report another healthy quarter, driven by successful tower launch at Elysian, Oberoi Garden City have started our preparations towards new project launches over the balance part of the year and are also continuing to pursue attractive land acquisitions which will deliver lasting value for all our stakeholders," said Vikas Oberoi, chairman and managing director, Oberoi Realty The real estate developer's total expenses during the quarter stood at ₹573.7 crore, down from ₹669.1 crore reported in the same period of the previous fiscal year. ALSO READ | Will Titan's 67% acquisition of Damas boost profitability in GCC region? Should you buy, sell or hold? While profits were down, Oberoi Realty reported a healthy quarter in terms of pre-sales, which stood at ₹1,638 crore vs global brokerage firm Nomura's estimates of ₹1,320 crore, driven by strong performance in most of the projects. "(The decline in revenue was) likely driven by no revenue recognition from sales of the 360West project. Over the past two quarters, the company booked pre-sales of ₹750 crore while revenue of only ₹200 crore was recognised. We believe pre-sales will likely be recorded in upcoming quarters," Nomura stated in its report. The brokerage firm has maintained a 'Buy' rating on the stock with a target price of ₹2,000, citing healthy growth in the company's pre-sales figure (in the residential segment).
