Latest news with #US-tariff
Time of India
4 days ago
- Automotive
- Time of India
I-Sec downgrades Ceat to Hold, target price at Rs 3,625
ICICI Securities has downgraded Ceat to Hold from Add with a target price of Rs 3625. The current market price of Ceat is Rs 3686.95. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 14646.17 crore, operating in the Tyres sector. Ceat's key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69% from last quarter Total Income of Rs 3303.33 crore and up 14.36% from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in the latest quarter. The company's top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Live Events Investment Rationale ICICI Securities recently attended CEAT's Investor Day to understand its medium-term growth strategy. Over the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), we remain watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term while valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E EPS. Promoter/FII Holdings Promoters held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent.
Economic Times
4 days ago
- Automotive
- Economic Times
I-Sec downgrades Ceat to Hold, target price at Rs 3,625
ICICI Securities has downgraded Ceat to Hold from Add with a target price of Rs 3625. The current market price of Ceat is Rs 3686.95. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 14646.17 crore, operating in the Tyres sector. ADVERTISEMENT Ceat's key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69% from last quarter Total Income of Rs 3303.33 crore and up 14.36% from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in the latest quarter. The company's top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Investment Rationale ICICI Securities recently attended CEAT's Investor Day to understand its medium-term growth strategy. Over the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), we remain watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term while valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E EPS. Promoter/FII Holdings Promoters held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
The Star
7 days ago
- Business
- The Star
Fresh catalysts needed to spur local bourse
CIMB Research lowered its end-2025 FBM KLCI target to 1,560 points from 1,657 points. PETALING JAYA: The market may remain listless for the time being in the absence of fresh catalysts, say analysts. Compared with the markets in the United States and Europe, investors in the local market appeared to be more cautious amid continued suspense on the US trade talks front. Stocks in the United States appeared to be on a risk-on mode – they reportedly churned out their best month in May with the Dow Jones Industrial Average jotting a 3.9% gain while the Nasdaq Composite was 9.6% higher. Fund flow data for the previous week also indicated that foreign investors withdrew a net RM1.02bil from Malaysian equities. The increase in net selling from the previous week was in line with what is happening in the region where foreign investors had been selling down their holdings amid growing anxieties over economic uncertainties. iFast Capital's assistant research manager Kevin Khaw said the local market's direction would be determined by the developments and the eventual outcome of the US tariff negotiations. 'We think the possibility of an extension of deadline is unlikely despite the fact that we are approaching July, the end of the 90-days grace period,' Khaw told StarBiz. He also expected foreign funds to maintain their neutral stance on risk and might not aggressively buy into the local market. 'They will possibly tilt towards a wait-and-see approach, given the current tariff uncertainties alongside elevated US treasury yields. 'Having said that, we are not expecting foreign funds to revisit Malaysia as long as there is no increased certainty on the US-tariff front,' Khaw said. In terms of fundamentals, the medium to large capitalised stocks provided viable opportunities for investors. 'Valuation-wise, we are only approaching the pre-Liberation day levels, hence it is not considered as lofty. 'In a shorter term, we have revised the earnings estimate of Malaysian equities downwards due to the looming uncertainties, from the tariff impact and forthcoming subsidy removal,' Khaw added. 'On the other hand, we think the potentially stronger ringgit will encourage fund flows, under the assumption that the dollar to ringgit level is maintained at a stable RM4 to RM4.20, as a stronger ringgit often signals economic stability and sound macroeconomic management.' Meanwhile, CIMB Research had revised its earnings forecasts for the FBM KLCI down by 5.6% for both 2025 and 2026 on widespread underperformance in the recent first quarter earnings season. It had also lowered its end-2025 FBM KLCI target to 1,560 points from 1,657 points, based on an unchanged price-to-earnings (P/E) multiples of 14.7 times. 'The KLCI is trading at a 12-month forward P/E of 12.7 times with attractive dividend yields of circa 4.2%, but the upside may be capped by downside risks ahead,' it said. They include a potential imposition of a default 10% US import tariffs with the end of the tariff reprieve on July 9, potential hike in the sales and service tax, petrol subsidy revamp and higher electricity tariffs that are expected in July, it added.
Economic Times
13-05-2025
- Business
- Economic Times
I-Sec maintains Add on Bharat Forge, reduces target price to Rs 1,225
ICICI Securities maintains Add call on Bharat Forge with a revised target price of Rs 1,225 (Rs 1,250 earlier). The current market price of Bharat Forge is Rs 1191.2. Bharat Forge, incorporated in 1961, is a Large Cap company with a market cap of Rs 57346.73 crore, operating in the Auto Ancillaries sector. ADVERTISEMENT Bharat Forge's key products/revenue segments include Steel Forgings, Scrap, Export Incentives, Dies & Tools, Job Work, Wind Mills and Other Services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3914.71 crore, up 11.41% from last quarter Total Income of Rs 3513.91 crore and down -7.21% from last year same quarter Total Income of Rs 4219.04 crore. The company has reported net profit after tax of Rs 284.90 crore in the latest quarter. The company?s top management includes Mr.B N Kalyani, Mr.K B S Anand, R Bhandari, Mr.P H Ravikumar, D Gupte, G Pawar, Singh, B Mane, G Sivaraman, Mr.S E Tandale, Mr.B P Kalyani, B Kalyani, Mr.G K Agarwal, Bharat Ram. The company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 48 crore shares outstanding. ADVERTISEMENT Investment RationaleBharat Forge's consolidated performance was broadly in line with I-Sec estimates led by ramp-up in overseas subs. Standalone performance was below our estimate amid weak CV exports and lumpiness in defence business. Notwithstanding near-term concerns around slowdown in US CV volumes, the brokerage believes BHFC's medium-to-longer-term growth prospects remain healthy led by further expansion in newer verticals (defence, aerospace and casting). The company is looking to increase the addressable market size by expanding into newer segment (e.g. electronics). US-tariff can potentially present new business opportunities (given its US mfg. presence). We lower FY26E/27E revenue estimates by 1?3% but raise margins by 10?30bps on better profitability for overseas subs. ICICI Securities Retains ADD; target price is revised to Rs 1,225 (vs. Rs 1,250) based on 30x FY27E EPS. Promoter/FII Holdings Promoters held 44.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.08 per cent, DIIs 30.19 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Zawya
22-04-2025
- Business
- Zawya
QSE enters sixth day of bull-run as key index surpasses 10,200 levels
The Qatar Stock Exchange (QSE) yesterday gained for the sixth consecutive day with its key index surpassing the 10,200 levels, on buying interests especially in the telecom and consumer goods sectors. The local retail investors turned bullish as the 20-stock Qatar Index rose as much as 67 points or 0.66% to 10,213.33 points, recovering from an intraday low of 10,147 points. The US-tariff relief continued to have its influence in the main market, whose year-to-date losses truncated further to 3.38%. As much as 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.73bn or 0.63% to QR600.35bn on the back of large and small cap domestic funds' weakened net profit booking had its influence in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.07mn change hands across nine deals. The foreign retail investors continued to be bullish but with lesser vigour in the main bourse, whose trade turnover and volumes were on the decrease. The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills. The Arab retail investors were seen net profit takers in the main bourse, which saw no trading of sovereign bonds. The Total Return Index rose 0.66%, the All Share Index by 0.6% and the All Islamic Index by 0.49% in the main market. The telecom sector index soared 2.88%, consumer goods and services (1.03%), industrials (0.48%), banks and financial services (0.47%), transport (0.35%) and realty (0.34%); whereas insurance declined 0.27%. Major gainers in the main bourse included Ooredoo, Industries Qatar, Inma Holding, Medicare Group, Qatar Islamic Bank and Woqod. In the venture market, Techno Q saw its shares appreciate in value. Nevertheless, Al Meera, Zad Holding, Al Mahhar Holding, Al Faleh Educational Holding, Mesaieed Petrochemical Holding, QIIB and Qatari German Medical Devices were among the losers in the main market. The Qatari individuals turned net buyers to the tune of QR2.73mn compared with net sellers of QR9.31mn on April 14. The domestic institutions' net profit booking weakened markedly to QR1.56mn against QR9.28mn the previous day. However, the Arab retail investors were net sellers to the extent of QR4.01mn compared with net buyers of QR4.07mn on Monday. The Gulf institutions' net profit booking strengthened significantly to QR3.7mn against QR0.65mn on April 14. The Gulf individuals turned net sellers to the tune of QR0.5mn compared with net buyers of QR0.64mn the previous day. The foreign institutions' net buying decreased noticeably to QR7.05mn against QR13.08mn on Monday. The foreign individual investors' net selling eased marginally to QR0.01mn compared to QR1.45mn on April 14. The Arab institutions had no major net exposure for the second straight session. The main market witnessed 48% plunge in trade volumes to 93.94mn shares, 35% in value to QR242.08mn and 35% in deals to 11,886. In the junior bourse, trade volumes plummeted 93% to 0.06mn equities, value by 93% to QR0.18mn and transactions by 63% to 12. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
