Wednesday, November 27
Shares of newly-listed solar panel manufacturer Waaree Energies rallied up to 7.6% on Wednesday, hitting a fresh peak of Rs 3,740.75 on the BSE, pushing its market capitalization above the Rs 1 lakh crore mark.The stock, which debuted on October 28 at Rs 2,550 on the BSE—representing a premium of 69.7% over the IPO issue price of Rs 1,503—has surged by about 49% in the past week amid sustained buying in the solar power sector.The Rs 4,321 crore IPO received an overwhelming response, attracting bids worth Rs 2.41 lakh crore and garnering 97.34 lakh applications—the highest for any IPO in India's primary market history.Also Read | Trump card for D-St: The good, bad & ugly for Indian stock marketWaaree Energies is the largest manufacturer of solar PV modules in India, with the highe
Donald Trump's historic return to the White House, which looks almost certain now even though full results of the US presidential election are not in yet, is being seen largely positive for India, mainly due to his friendship with Prime Minister Modi and his statements during his campaign that he will work to better India-US ties. PM Modi has extended a warm congratulations to Trump on his projected election win, calling him a "friend" and noting his hopes for continued collaboration.However, India could be cautious of the Trump presidency due to two factors: trade and immigration. On both, Trump has often expressed his hardline views.Republicans have won control of the US Senate with victories in West Virginia and Ohio on Tuesday, ensuring Trump's party will control at least one chamber o
Growth in India's dominant services industry picked up last month after dipping to a 10-month low rate in September amid a marked expansion in demand, according to a business survey that also showed the sector's workforce increased sharply. That signaled a relatively strong start for Asia's third-largest economy in 2024's final quarter and supports Reuters poll forecasts for 7.0% growth this quarter after 6.8% last quarter. Services accounted for about 55% of gross domestic product (GDP) in fiscal year 2023-24, government data showed. The HSBC final India Services Purchasing Managers' Index , compiled by S&P Global, rose to 58.5 in October from September's 57.7, exceeding a preliminary estimate of 57.9. The index has been above the 50-mark separating expansion from contraction for 39 c
Titan shares fell up to 3% to Rs 3.133 on Wednesday a day after the company reported that its consolidated profit for the quarter ended September 2024 fell 23.1% to Rs 704 crore year-on-year (YoY) mainly due to impact of customs duty reduction.During the quarter, Titan's total income rose 26% YoY to Rs 13,660 crore.The profit figure was lower than Street estimates of Rs 900 crore as reflected in a poll by ET Now while the revenue was higher than estimates of Rs 12,350 crore.Should you buy, sell, or hold Titan's stock? Here's what analysts say:InvestecInvestec has maintained a 'Hold' rating on Titan, cutting its target price to Rs 3,822 from Rs 4,100.The results were below expectations even after adjusting for the inventory impact due to the customs duty cut. Jewellery margins have been dis
