JP Morgan
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Axis Bank stock plunges 7% amid concern over credit cost
Shares of Axis Bank slumped nearly 7 per cent on Thursday to ₹1,150.50 on the NSE due to concern over credit costs. The bank on Wednesday reported a 5.66 per cent rise in consolidated net profit for the June quarter at ₹6,436 crore. However, its gross non-performing assets (GNPA) increased sequentially.
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LIC gains bullish ratings from brokerages; target prices up to ₹1,340
Shares of LIC traded at ₹999 on the NSE, up by 0.07 per cent as of 10.25 am on Thursday. Brokerages have been bullish on the stock driven by strong equity and change in product mix. They expect stock to rise at least 20 per cent.
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Oberoi Realty climbs 9%, hits 52-week high
Shares of Oberoi Realty climbed nearly 9 per cent on Thursday’s trade. The company’s consolidated net profit for the March quarter of 2024 increased 64 per cent and announced plans to raise up to ₹4,000 crore through issuance of equity shares and non-convertible debentures.
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Wipro gains post Q4 results, brokerages estimate weak near-term outlook
Shares of Wipro rose 2.03 per cent on Monday’s trade to close at ₹461.95 on the NSE despite posting weaker-than-expected March quarter financial results. Even analysts remain rather bearish on the stock. The company’s profits rose 5.2 per cent q-o-q. However, the company recorded an 8 per cent profit decline in Q4 at ₹2,835 crore.
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Xiaomo is bearish on the US stock earnings season: the positive sentiment has already digested the expected decline in profits of most companies in advance
As the first-quarter earnings season of the U.S. stock market slowly opened last week, JPMorgan Chase , which has always been bearish on the prospects of U.S. stocksAnother pessimistic warning. JP Morgan strategists are not optimistic about the outlook for corporate earnings this earnings season, believing that except for a few technology giants, most U.S. stock companies will see an overall decline in earnings. They also believe that even if U.S. stock companies perform well in earnings, it will be difficult to push U.S. stocks higher because most of the optimism has been digested in advance. Xiaomo Mo’s pessimistic outlook on Q1 earnings season The team of Mislav Matejka, head of global equity strategists at JPMorgan Chase, wrote in a report that they have lowered their profit expectations for the first quarter of U.S. stock companies. Strategists said first-quarter earnings for most companies in the S&P 500 are expected to decline across the board after excluding several technology giants. Matejka also noted that investor positioning looks “very tight” as the S&P 500 index has risen to a record high. He…