Monthly Archives: July 2024

Budget 2024 proposal to scrap buyback tax for companies and in turn tax the payouts as ‘deemed dividends’ at the hands of recipients is set to reduce interests in share repurchase programmes among promoters, say tax experts.

Results corner: Ashok Leyland, AU Small Finance Bank, AAVAS Financiers, Adani Energy Solutions, Adani Green Energy, Canara Bank,Chalet Hotels, Chennai Petroleum Corporation, Cyient, DLF, Glenmark Life Sciences, Go Digit General Insurance, Home First Finance Company India, Jupiter Wagons, Jyothy Labs, Laurus Labs, Mahanagar Gas, Mahindra Holidays & Resorts India, Motilal Oswal Financial Services, Mphasis, Nestle India, PNB Housing Finance, Praj Industries, Tech Mahindra, United Breweries, Ujjivan Small Finance Bank, and UTI Asset Management Company.

Axis Bank's stock tumbled nearly 7 per cent on Thursday morning trade after the company's June quarter earnings failed to cheer investors.

Target: ₹73

BSE Sensex has touched 80,000 mark on Wednesday’s early trade. Sensex traded at 79,983.23, higher by 541.78 pts or 0.68 per cent as at 10.32 a.m, and Nifty 50 traded at 24,277.20, up by 153.35 pts or 0.64 per cent.

Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said.

Dabur remains a top pick in the Consumer Goods sector for Emkay Global due to its diversified portfolio and strong execution. The company’s focus on rural growth remains firm, with distribution expansion showing robust progress. Dabur’s strategy of expanding the Total Addressable Market (TAM) across brands with well-supported category extensions through distribution and marketing continues to yield positive results. Emkay Global maintains a BUY rating on Dabur, with a target price of ₹700 per share by June 2025, based on a 46x P/E multiple. The brokerage expects Dabur to achieve a compound annual growth rate (CAGR) of 10% in sales and 15 per cent in earnings over FY24-27.

Emcure Pharmaceuticals Ltd on Wedneday made a fabulous listing with a premium of 31 per cent.

Bansal Wire Industries on Wedneday entered the bourses on stellar note with a premium 37 per cent.

Benchmark Sensex and Nifty closed marginally down in a volatile session on Thursday as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter.