ITC shares have jumped around 23% so far this year compared to over 10% fall seen in benchmark NSE Nifty 50, and the positive momentum is likely to continue in the near-term, according to analysts. ITC’s performance in FY22 has been robust on all fronts including strong recoveries across cigarettes and hotels, over 110 new […]
Sugar mills have urged the government to allow exports of 8 million tonne (MT) of the sweetener under the open general licence (OGL) in the next season which commences on October 1. This, according to the Indian Sugar Mills Association (Isma), will help the sugar mills enter into future exports contracts well in advance prior […]
Benchmark indices rose for the second straight day on Tuesday, as investors lapped up beaten down quality stocks on firm global cues. Softening crude oil prices further boosted the investor sentiment. Barring China, most Asian indices gained in Tuesday’s trade, with Taiwan TAIEX and Hang Seng climbing 2.4% and 1.9%, respectively. While the Nikkei 225 […]
The Association of Mutual Funds in India (AMFI) clarified on Tuesday that AMCs (asset management companies) may resume subscriptions and make investments in overseas funds and securities up to the headroom available without breaching the overseas investment limit utilised by individual mutual funds and AMCs as on February 1, 2022. The assets under management of […]
We initiate coverage on Vedant Fashions (VFL) with a Reduce rating and DCF-based FV of Rs 1,000. VFL is uniquely positioned to benefit from rising spends on branded apparel. Further, we like its high gross margins, asset-light franchise-driven model and strong brand connect with customers. We forecast healthy revenue/EBITDA/PAT CAGR of 21%/20%/ 20% over FY2022-25E, […]
Start-up and IT exits among private equity (PE) and venture capital (VC) investors in 2022 have slowed down significantly due to bearish sentiment in public markets coupled with the younger portfolios of top funds witnessing lower exits compared to pre-2021 stages. According to a report by management consulting firm Bain & Company, this year’s exit […]
Indian equities tanked on Monday with investors rattled by the big sell-off in the US markets last Friday. On a day when prices of crude oil stayed steady, bonds sold off and the rupee sank to new lows, falling through the 78 mark against the dollar. Investors rushed for the exit, anxious about an unfriendly […]
Reacting to the government’s move to restrict the export of sugar from June 1, the Indian Sugar Mills Association (ISMA) has said mills should be allowed to export an additional 1 million tonne of the sweetener in the current marketing season from October 2021 to September 2022. Shipments are the only viable option left for […]
State-run oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation may soon have to start raising retail prices in small tranches as the Indian basket of crude oil hit a decadal high of $121.28 per barrel on Friday. The Indian basket represents a derived basket consisting of sour grade […]
India, the world’s second-largest sugar producer, exported 3.06 million tonne (MT) of the sweetener until June 2 this fiscal — 53% higher than a year before — official sources told FE. The unusual surge lends some credence to the government’s fears that sugar stocks could be substantially depleted by the festival season if outbound shipments […]