Latest news with #Setu
Business Upturn
a day ago
- Business
- Business Upturn
Stocks to watch on brokerages on June 6: Bajaj Auto, ONGC, Reliance Industries, Infosys, Ashok Leyland, Marico, HPCL, Prestige Estates, Godrej Properties, Tata Motors in focus
A wide range of stocks and sectors are on the radar today after global and domestic brokerages issued new reports and target updates. Here is a round-up of key calls: Autos Bajaj Auto CLSA maintains Outperform, target Rs 10,149 Company aims to gain market share in 125cc+ segment with new Pulsar refresh or brand. Chetak 3kWh to help e-2W growth. Exports expected to rise 15–20% in FY26. KTM turnaround eyed by 2026. New e-rickshaw launch also planned. Ashok Leyland Morgan Stanley maintains Overweight, target Rs 288 (From earlier list — still valid, no second version provided) Tata Motors JP Morgan downgrades to Neutral, target Rs 740 Key headwinds: tariff risks, ageing JLR portfolio, muted India CV+PV growth. FY26 expected to be tough. Recovery expected in FY27–28. Investor Days (June 9, India / June 16, JLR) will be key. Technology Infosys Kotak Institutional Equities maintains Buy, target Rs 1,780 Stable demand despite macro uncertainty. Large deals tilted to cost takeout. Margin levers in place. GenAI seen as neutral to revenues. Oil & Gas ONGC Morgan Stanley maintains Overweight, target Rs 308 (From earlier list — valid) HPCL Morgan Stanley maintains Overweight, target Rs 516 (From earlier list — valid) Reliance Industries Jefferies maintains Buy, target Rs 1,650 Stock up 12% YTD. Retail growth visibility improving. Positive Jio tariff outlook and strong O2C Q1 performance. Trades below LT mean EV/EBITDA — room for re-rating. Consumer Marico JP Morgan maintains Overweight, target Rs 770 Management confident of double-digit revenue growth FY26, supported by volume growth and portfolio diversification (digital, foods, premium personal care). Project Setu expanded to 11 states, expected to drive better rural and urban distribution in H2FY26. Real Estate Prestige Estates CLSA maintains Outperform, target Rs 2,380 Godrej Properties CLSA maintains Outperform, target Rs 2,270 Sunteck Realty CLSA maintains Outperform, target Rs 625 Sobha CLSA upgrades to Hold (from Underperform), target Rs 1,550 CLSA sector view: Expect 25 bps rate cut in ongoing MPC meet (taking YTD cuts to 75 bps), further 50–75 bps expected in FY26. Affordable & mid-income segments set to benefit from rate cycle reversal. Beneficiaries: Sobha, Prestige, Godrej, Sunteck. REITs and large rental players like DLF, Phoenix Mills to also gain. Cement Nomura sector view: Cement spreads improving as prices trend upward. June prices up Rs 2/bag m-m, Q1FY26 prices up Rs 12/bag q-q. Fuel costs stable. Bullish on: Ambuja, Ultratech, Shree Cement, Ramco Reduce on: Dalmia Bharat, ACC, Nuvoco Life Insurance Bernstein sector view:Indian life insurers still have upside potential. Valuations supportive. Growth and margin outlook improving, regulatory sentiment turning positive. Top pick: Max Financial over SBI Life and HDFC Life Neutral on ICICI Pru Life and LIC Telecom Bharti Airtel Macquarie maintains Outperform, target Rs 2,050 (From earlier list — valid, not duplicated in second list) Sees ARPU rising to Rs 290 by FY27, strong FCF and RoIC outlook. Microfinance (MFI trends) Jefferies notes: Q4 MFI disbursements fell 38% YoY (+12% QoQ). AUM down 3% QoQ / 14% loans (31–180 days) improving (from 6.4% to 6.2%). Normalisation expected in 1–2 quarters. Spandana, Fusion, CredAG more exposed to >=4 loans; Bandhan could perform better. Morgan Stanley on Godrej Consumer Products — Overweight, TP Rs 1,431 Morgan Stanley on M&M — Overweight, TP Rs 3,668 CLSA on SOBHA — now Hold (upgraded in second list) Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisors before making any investment decisions. News desk at
India Gazette
26-05-2025
- Politics
- India Gazette
Subramanian Swamy moves SC to declare Ram Setu as national monument
New Delhi [India], May 26 (ANI): Former Rajya Sabha MP Subramanian Swamy has approached the Supreme Court seeking a direction to the Centre to timely decide his representation seeking to declare 'Ram Setu' as a national monument and of national importance. The petition sought national monument status for the 'Ram Setu' bridge and a survey by the Geological Survey of India and the Archaeological Survey of India in respect to 'Ram Setu' as an ancient monument of national importance. Swamy said that he had made a representation to the Centre in terms of the Supreme Court's January 2023 order; however, the same has not been decided. He further said that 'Ram Setu' fulfils all the criteria for being called an Ancient Monument, as it has historical, archaeological, or artistic interest. The plea said Ram Setu fulfils the criteria of an Ancient Monument under Section 3/4 of the Ancient Monuments and Archaeological Sites and Remains Act 1958, and the government is duty-bound to declare all ancient monuments of national importance and national monuments. He said that the Central government is duty-bound to protect 'Ram Setu' from any form of misuse, pollution or desecration. Swamy's petition stated, 'This archaeological site is a matter of faith and shradha of people treating Ram-Setu as a pilgrimage.' The central government earlier told the Supreme Court that the process to declare 'Ram Setu' a national heritage monument is currently underway in the Ministry of Culture. The Centre's response came on Swamy's plea seeking direction to the government to declare 'Ram Setu' a national monument. The apex court then asked Swamy to file a representation with the Ministry on the issue. Swamy had earlier said that the case has been pending for eight years, but the government has not been able to respond to the plea. In his plea, Swamy had urged the apex court to pass an order and direct the 'Union of India, along with National Monuments Authority (NMA), to declare 'Ram Setu' as an Ancient Monument of National Importance.' Swamy said that he had already won the first round of the litigation, in which the Centre accepted the existence of 'Ram Setu'. He added that the union minister concerned had called a meeting in 2017 to consider his demand to declare the Setu a national heritage monument, but subsequently, nothing happened. 'Ram Setu' is a chain of limestone shoals between Pamban Island, also known as Rameswaram Island, off the south-eastern coast of Tamil Nadu, and Mannar Island, off the north-western coast of Sri Lanka. (ANI)
