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Mint
a day ago
- Business
- Mint
Canara Bank to Hero MotoCorp: Eight stocks to buy for up to 15% gains on robust monsoon, strong Indian economy
The Indian stock market benchmark indices, Sensex and Nifty 50, extended rally for the third consecutive month in May. Nifty 50 has gained 1.7% this month, underpinned by easing tariff concerns, positive developments in India–US trade negotiations, and a rebound in Foreign Institutional Investor (FII) inflows The next key trigger for the Indian stock market would be the monsoon season. According to the India Meteorological Department (IMD) India is likely to experience above average monsoon rains in 2025. This projection signals a potentially fruitful agriculture season which is crucial for rural demand and benefit sectors like agrochemicals, fertilizers, tractors, two-wheelers and FMCG. Green shoots of recovery in rural markets, sustained momentum in manufacturing and services sectors augur well for consumption demand in the near term, analysts said. 'Steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term. Investors should remain invested and buy quality stocks on dips,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments. Meanwhile, brokerage firm Way2Wealth has released the list of Monsoon stock picks. The stocks are believed to gain from improving rural liquidity and demand on the back of better monsoon. It believes these quality stocks have strong fundamentals and a positive correlation to monsoon trends and other key macroeconomic indicators. The brokerage firm suggests these stocks to buy for a time horizon of 6-8 months. These stocks to buy include Bayer CropScience, Canara Bank, Coromandel International, Emami, Godrej Agrovet, Hero MotoCorp, Supreme Industries and Swaraj Engines. Here are the Monsoon stock picks by Way2Wealth: Bayer CropScience is expected to maintain a revenue, EBITDA and PAT CAGR of 10%, 30% and 28% over FY25–27E, respectively. At the CMP, Bayer CropScience share price is trading at a P/E of 28x and an EV/EBITDA of 21x based on FY27E estimates, Way2Wealth said. The brokerage firm assigns a 'Buy' rating to Way2Wealth shares with a target price of ₹ 6,450 apiece. Canara Bank's balance sheet stands strong with CRAR at 16.3%. It will be further strengthened with IPO proceeds of Canara Robeco which will provide growth capital to the bank, said the brokerage firm. It has a 'Buy' call on Canara Bank shares with a target price of ₹ 125. Coromandel International is progressing with key projects, targeting commissioning by FY26–27. It is focusing on capex realignment, backward integration, and new product growth such as Nano DAP, while maintaining a revenue, EBITDA and PAT CAGR of 9%, 22% and 17% over FY25-27E, respectively. At the CMP, Coromandel International shares are trading at a P/E of 25x and an EV/EBITDA of 17x based on FY27E estimates. Way2Wealth assigns a 'Buy' rating to Coromandel International shares, with a target price of ₹ 2,700 apiece. Emami remains committed to grow through various initiatives like newer launches, expanded reach and increased digital presence through e-commerce channels despite high inflationary environment and urban slowdown. Further, it has a strong presence in the niche personal care categories, with low penetration. At CMP, Emami stock is trading at 27x its FY26 P/E . The brokerage firm recommends a 'Buy' call on Emami shares based on its strong fundamentals. It has Emami share price target of ₹ 660 apiece. Godrej Agrovet's diversified products across less regulated agricultural inputs and outputs, leading market positions across all of them and high-quality management and parentage, makes it a proxy to ride the theme of Indian agriculture, said the brokerage firm. The company has a strong Balance Sheet and generates healthy cash flows and return ratios. At CMP, Godrej Agrovet stock price is trading at 28x its FY26 P/E. The brokerage has a 'Buy' call on the stock with a target of ₹ 840 level. Way2Wealth remains optimistic about growth of the company in the near term. The company currently trades at a P/E 15.9x on FY27E below its 5-year average P/E of 21.6x. It has a 'Buy' rating and Hero MotoCorp share price target of ₹ 5,000 A recovery in plumbing demand is anticipated as channel inventories stabilize and government spending picks up, the brokerage firm said as it remains optimistic about growth of the company in near term. Supreme Industries shares currently trade at a P/E 39.7x on FY27E below its 5-year Average PE of 42.2x. The brokerage recommends buying Supreme Industries shares for a target price of ₹ 4,750 apiece. The company's engine business is likely to move in tandem with industry. Further, return ratios (RoCE: ~53+%, RoE: ~40%) along with positive FCF generation will also be among the key triggers, said the broking house. At CMP, Swaraj Engines share price is trading at 26x its FY26 P/E. It recommends buying Swaraj Engines shares for a target price of ₹ 4,600 apiece. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
a day ago
- Business
- Hans India
Indian stock market opens flat amid stable institutional investments
The domestic benchmark indices opened flat on Friday amid negative Asian cues, as selling was seen in the IT and auto sectors in the early trade. Stable institutional flows — both FII and DII — are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term, according to analysts. At around 9.29 am, Sensex was trading 11.77 points or 0.01 per cent up at 81,644.79 while the Nifty added 13.20 point or 0.05 per cent at 24,846.80. Nifty Bank was up 81.20 points or 0.15 per cent at 55,627.25. The Nifty Midcap 100 index was trading at 57,707.65 after rising 250.40 points or 0.44 per cent. Nifty Smallcap 100 index was at 17,927.15 after climbing 37.75 points or 0.21 per cent. According to analysts, the Nifty posted a smart recovery in the final minutes of trading on Thursday, after spending most of the first half in the red. "Although the Nifty is still caught in a sideways market defined by the 24,462 and 25,116 range, yesterday's rebound traced a long lower shadow and a small real body that was closer to the day's high, and that's a bullish sign. Immediate support and resistance lie at 24677 and 25000 respectively," said Akshay Chinchalkar, Head of Research at Axis Securities. Meanwhile, in the Sensex pack, Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan and Hindustan Unilever Limited were the top losers. Whereas, Adani Ports, Eternal, Maruti Suzuki and Sun Pharma were the top gainers. In the Asian markets, Hong Kong, Bangkok, Seoul, China and Japan were trading in the red. In the last trading session, Dow Jones in the US closed at 42,215.73, up 117.03 points, or 0.28 per cent. The S&P 500 ended with a gain of 23.62 points, or 0.40 per cent, at 5,912.17 and the Nasdaq closed at 19,175.87, up 74.93 points, or 0.39 per cent. 'Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd. This is the fundamental reason for the range-bound movement of the market. On the institutional front, foreign institutional investors (FIIs) were net buyers as they bought equities worth 884.03 crore on May 29, while domestic institutional investors (DIIs) purchased equities worth 4,286.50 crore. According to market watchers, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term.
Economic Times
a day ago
- Business
- Economic Times
Sensex falls 300 pts, Nifty below 24,750 amid caution ahead of GDP data
Synopsis Indian equity markets traded with mixed signals on Friday, as positive institutional inflows and economic optimism were tempered by anticipation for the upcoming GDP data. The Sensex experienced a slight dip, while the Nifty50 showed marginal gains. FPIs continue their buying spree, potentially reaching a high for May, with Adani Ports and Nestle India leading gainers. Indian benchmark equity indices traded lower on Friday, as strong institutional inflows and optimism over domestic economic growth were offset by cautious trading ahead of the GDP data release later in the day. Tired of too many ads? Remove Ads At 10:40 am, the BSE Sensex was down 313 points, or 0.38%, at 81,319, while the Nifty50 slipped 98 points, or 0.40%, to 24, portfolio investors (FPIs) bought Indian equities worth Rs 884 crore ($103.5 million) on Thursday, marking their fifth straight session of net $2.6 billion in net foreign inflows so far in May, FPI buying is on track to log its highest monthly total since September 2024, when benchmark indices hit record highs. Among Sensex stocks, Adani Ports, Nestle India, L&T, Sun Pharma, and Bajaj Finserv opened higher, while Infosys, Tech Mahindra, HCL Tech, and IndusInd Bank saw early declines. Tired of too many ads? Remove Ads Among individual stocks, Ola Electric Mobility slumped 9.7% after the electric two-wheeler maker reported a sharp rise in March quarter losses, with net loss widening to Rs 870 crore from Rs 416 crore a year earlier. Also read: Suzlon Energy shares soar 13% after Q4 profit surges 365% YoY to Rs 1,182 crore Shares of real estate firm Sobha jumped 6.7% after the company posted a nearly six-fold rise in consolidated net profit to Rs 40.85 crore for Q4 the sectoral front, Nifty IT dropped over 1%, while Metal slipped 0.5%. In contrast, Nifty Bank, Financial Services, Realty, and Oil & Gas indices opened higher."Stable institutional flows- both FII and DII - are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near term. Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings. This is the fundamental reason for the range-bound movement of the market," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Matalia, Derivative analyst at Choice Broking, said, After a flat opening, Nifty can find support at 24,800, followed by 24,700 and 24,500. On the higher side, 24,900 can be an immediate resistance, followed by 25,000 and 25,100." Stocks slipped in Asia on Friday, and the U.S. dollar dropped with Treasury yields as investors digested an appeals court decision to keep President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them. Tired of too many ads? Remove Ads Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level. Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading.U.S. S&P 500 futures retreated 0.2%. Pan-European STOXX 50 futures edged 0.1% lower. Also read: Bajaj Auto shares slip over 2% after Q4 profit drops 10% YoY to Rs 1,802 crore Foreign Institutional Investors (FIIs) net bought equities worth Rs 884 crore on May 29, while Domestic Institutional Investors (DIIs) purchased Rs 4,286 prices were on track to end the week down more than 1% on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output crude futures slipped 26 cents, or 0.41%, to $63.89 a barrel by 0104 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.44%, to $60.67 a barrel. The Brent July futures contract is due to expire on Indian rupee rose 18 paise to 85.30 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.16% to 99.43 level. (With inputs from agencies)
India Today
a day ago
- Business
- India Today
Sensex opens 150 points lower; Nifty below 24,800; Infosys down over 1%
Benchmark stock market indices opened lower on Friday, dragged down by a fall in information technology (IT) sector shares in early S&P BSE Sensex was down by 45.58 points to 81,587.44, while the NSE Nifty50 added 24.20 points to 24,857.80 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that stable institutional flows- both FII and DII - are keeping the market steady even in the absence of positive "The ongoing consolidation phase is likely to continue in the near-term. Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings. This is the fundamental reason for the range bound movement of the market," he & Toubro emerged as the top performer on Sensex, surging 0.88% right from the opening bell, followed by Adani Ports and Special Economic Zone which gained 0.88%. Nestle India showed some momentum with a 0.87% advance, while Sun Pharmaceutical Industries and Bajaj Finserv rounded out the top five gainers with rises of 0.56% and 0.54% saw a decline, dropping 1.78% in opening trades. Tech Mahindra was under pressure, falling 1.16%, while HCL Technologies retreated by 0.73%. IndusInd Bank slipped 0.52%, and Mahindra & Mahindra posted a decline of 0.26%.advertisementNifty Midcap100 advanced by 0.30% while Nifty Smallcap100 posted a smaller gain of 0.19%. India VIX dropped sharply by 8.86%.Nifty Realty led the gainers with a rise of 0.29%, followed by Nifty Media climbing 0.25%, Nifty PSU Bank advancing 0.16%, Nifty Pharma gaining 0.09%, Nifty Private Bank up 0.08%, Nifty Auto rising 0.03%, and Nifty Financial Services posting a marginal gain of 0.02%.However, some sectors opened in negative territory with Nifty IT facing the steepest decline of 0.29%, while Nifty Consumer Durables slipped 0.12% and Nifty FMCG dropped marginally by 0.04%."FY25 Nifty earnings growth was a pedestrian 5.5% and the projection for FY26 is around 10%. Valuation multiple of 21 for 10% earnings growth is certainly on the higher side. This will cap the upside to the Nifty until leading indicators suggest a recovery in earnings growth," said Vijayakumar."At the same time, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term. Investors should remain invested and buy quality stocks on dips," he added.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
India Today
a day ago
- Business
- India Today
India GDP data to be released today: What should investors expect?
India's latest GDP numbers for the January–March quarter (Q4 FY25) and the full year 2024–25 will be released on Friday by the Ministry of Statistics. This data will give a clear picture of how the economy has performed in the past year, especially in the final this year, the National Statistical Office had estimated that India's economy would grow by 6.5% in 2024–25, with an expected growth of 7.6% in the March Reserve Bank of India, too, had projected a 6.5% growth rate for the full year during its April Monetary Policy Committee TO EXPECT FROM INDIA'S GDP DATA?According to a report from the State Bank of India, the Indian economy is expected to grow by 6.3% in 2024–25, with the March quarter showing growth between 6.4% and 6.5%. The report noted that India has stayed 'largely resilient' despite a weaker global economy and rising global tensions. It added that the country has managed to handle changing conditions a credit rating agency, believes that Q4 growth will be around 6.9%, while CareEdge expects it to be 6.8%. ICICI Bank and Union Bank of India have both projected a growth rate of 7% for the March quarter.A Reuters report, based on a poll of economists, suggested that India's GDP likely grew by 6.7% year-on-year in the March quarter. This would be higher than the 6.2% growth seen in the previous report stated that higher rural demand and more government spending helped the economy during the period. However, it also said that private companies were slow in making new investments because of global Manoranjan Sharma, Chief Economist at Infomerics Valuations and Ratings Ltd, said that the Indian economy continues to show strength.'India's economic trajectory remains resilient despite global headwinds and regional geopolitical tensions,' he said. He added that growth of 6.4% in FY25 and 6.5% in FY26 is being driven by strong domestic demand, steady government spending on infrastructure, and a slow but steady increase in private investment. He also pointed to a strong banking system, solid performance from the services sector, and improvements in manufacturing under the PLI scheme as positive release of the GDP figures comes just after India became the fourth-largest economy in the world, overtaking Japan. Only the United States, China, and Germany are now ahead of India. "Steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term. Investors should remain invested and buy quality stocks on dips," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
