Prices

Edelweiss has given a hold rating to Tata Steel with a target price of Rs 330. The share price moved down by 1.95 per cent from its previous close of Rs 344.40. The stock’s last traded price is Rs 337.70. Tata Steel’s (TSL) Q1FY21 operating performance was impacted by the ongoing covid-19 crisis. Profitable domestic segment fared worse compared to European operations (TSE). High exports are expected to impact blended realisation. Also, activity improved in June on easing of lockdown. Investment RationaleThe brokerage expects performance to improve as economic activity picks up. However, it perceives risk-reward balanced on high leverage and stretched valuations. Higher-than-expected federal support in Europe is a key risk in their view. The brokerage maintains ‘HOLD’ with TP of INR330, implying 7.0x FY22E EBITDA. Financials For the quarter ended 31-03-2020, the company has reported a Consolidated sales of Rs 33769.95 Crore, down -2.89 % from last quarter … [Read more...] about Hold Tata Steel, target price Rs 330: Edelweiss

Share price of Info Edge (India) Ltd. gained 0.2 per cent to Rs 2870.05 at 10:46AM (IST) in Friday's trade. The stock hit a high of Rs 2912.0 and low of Rs 2858.1 so far during the session. The stock had closed at Rs 2864.3 in the previous session. The counter had a total traded volume of 10:46AM shares so far with a turnover of Rs 0.64 crore on BSE. The stock traded at a price-to-earnings multiple of -148.6 and a price-to-book ratio of 16.05. A higher price-to-earnings ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business. Info Edge (India) Ltd. belongs to the Services - eCom/Internet industry. Promotor/FII Holding Promoters held 40.48 per cent stake in the company as of 31-Mar-2020, while overseas investors and domestic … [Read more...] about Share price of Info Edge (India) Ltd. jumps as Sensex drops 160.74 points

Shares of Motherson Sumi Systems Ltd. gained 0.1 per cent to Rs 97.8 in Friday's trade as of 10:57AM (IST). The stock hit a high price of Rs 98.9 and low of Rs 97.1 during the session. The return on equity (ROE) for the stock stood at 10.39 per cent. Traded volume on the counter stood at 10:57AM shares and turnover at Rs 4.87 crore around that time. The stock of Motherson Sumi Systems Ltd. quoted a 52-week high and 52-week low prices of Rs 151.0 and Rs 48.5, respectively. The Beta value of the counter, which measures its volatility in relation to the broader market, stood at 1.59. Promotor/FII Holding Promoters held 33.96 per cent stake in the company as of 31-Mar-2020, while overseas investors held 15.5 per cent and domestic institutional investors had 11.21 per cent. Key Financials The company reported consolidated sales of Rs 14870.32 crore for the quarter ended 31-Mar-2020, down 3.67 per cent from previous quarter's Rs 15436.46 crore and down 12.12 per cent from the … [Read more...] about Share price of Motherson Sumi Systems Ltd. rises as Nifty weakens

“While all forecasts are highly uncertain at this point and will be heavily dependent on virus outcomes, it is unlikely any part of the country will escape a deterioration in the labour market and the resulting fallout for households,” Mr Oster said. … [Read more...] about Housing market sentiment collapses as COVID-19 continues to drag down prices

Private lender Yes Bank has set the price for its further public offering (FPO) at Rs 12 per share. The lender in an exchange notification said the Cap Price for the FPO was set at Rs 13 per equity share, whilst eligible employees would be eligible for Re 1 discount under the Employee Reservation Program.The lender had earlier announced it sought to raise upto Rs 15000 crore in its further public offering (FPO). Yes Bank in an exchange filing said the FPO through the fresh issue of equity shares will have an offer size of upto Rs 15000 crore, of which Rs 200 crore is reserved for ‘eligible’ employees.Yes Bank said the offer would open on July 15 and would last for two days, whilst Anchor Investors would be able to bid on July 14. The lender said it had filed a red herring prospectus with the regulators in line with the FPO.Yes Bank further said minimum bidding for the FPO would be of a bid lot of 1000 equity shares, and would therefore be in multiples of 1000 equity shares. … [Read more...] about Floor price of Yes Bank FPO set 58% lower than market price