Kunal Singh

NBA is all set for the 79th season that kicks off on October 22, 2024. With the 2024-25 season approaching really fast, an intriguing report has come up regarding the biggest basketball league considering the expansion.

Ashika Stock Broking has issued a SUBSCRIBE recommendation for Hyundai Motor India Limited IPO. Hyundai Motor India, a subsidiary of Hyundai Motor Company (HMC), has maintained a robust position in the Indian automotive market, being the second-largest OEM in terms of domestic sales since FY09. The IPO opened on October 15, 2024, and will close on October 17, 2024. Hyundai aims to raise between Rs. 26,519 crore and Rs. 27,870 crore. The company’s strong manufacturing capabilities, future EV expansion, and diversified product portfolio make this IPO a key opportunity for long-term investors.

Bajaj Auto share price decline by 9 percent in early trades as the company reported quarterly results that fell short of market expectations. Bajaj Auto’s stock plunged by 8.9%, trading at Rs 10,575.40 on the Bombay Stock Exchange (BSE). The stock touched intraday low of Rs 10,455 at the time of publication of this report.

IndiaMart InterMesh Share Price in Focus; Anand Rathi Research Suggests BUY Call

Anand Rathi Share and Stock Brokers Limited (ARSSBL) has issued a buy call for Gabriel India, citing strong growth prospects, strategic expansions, and increasing profitability. The research firm has set a target price of Rs 700, up from the previous target of Rs 610, reflecting an upside potential of over 60% from the current share price of Rs 433. Gabriel India's entry into the high-growth sunroof market, along with its ongoing expansion plans and strategic acquisitions, positions the company as a top pick in the small-cap auto ancillary sector.

Godrej Properties, a prominent player in India’s real estate sector, has categorically denied allegations of fraud and money laundering, dismissing them as unfounded and the result of a dispute with a dissatisfied joint venture partner. The allegations, currently under investigation by the Enforcement Directorate (ED), are linked to a housing project involving the company. Godrej Properties asserts that similar claims have been thoroughly investigated by other premier agencies, including the Central Bureau of Investigation (CBI) and the Economic Offenses Wing (EOW), with no adverse findings. The firm has pledged full cooperation with the ED inquiry and plans legal action against the complainant for reputational harm.

Brazil’s National Consumer Secretariat (SENACON) has imposed a groundbreaking directive targeting gambling incentives, aiming to safeguard consumers and prevent exploitation. The new regulations, detailed in Order No. 2,344/2024, ban all forms of customer bonuses, upfront rewards, and promotional offers tied to betting activities. Furthermore, advertising targeted at minors has been strictly prohibited. These measures signal a decisive move to enforce transparency and accountability among operators in the growing online betting market. Here’s a detailed breakdown of the policy and its implications.

KRChoksey Research has issued an ACCUMULATE recommendation for UPL Limited, with a target price of Rs 591, representing an 8.3% potential upside from the current market price of Rs 546. The report highlights UPL's deleveraging strategy, a significant investment in its subsidiary Advanta Enterprises by Alpha Wave Global, and the upcoming rights issue aimed at enhancing the company's financial health. The measures are expected to improve the company's earnings trajectory, with a forecasted EBITDA CAGR of 41.9% and EPS growth to Rs 49.2 by FY26E.

Sharekhan has maintained a Hold recommendation for Ratnamani Metals & Tubes Limited (RMTL) with a price target of Rs 3,950, reflecting limited upside due to rich valuations. Despite a 16% growth in the order book, Q2FY25 revenues fell by 14% YoY to Rs 971 crore, impacted by delays in export execution, lower pricing, and monsoon-led disruptions. While the company remains well-positioned for long-term growth in the oil & gas and water supply segments, near-term challenges, including margin pressures and soft demand, weigh on its valuation. RMTL's strong balance sheet and leadership in high-margin stainless steel (SS) pipes support its long-term growth potential.

Baba Ramdev-led Patanjali Ayurved has reported a remarkable financial performance for FY24, with a 23.15% rise in total income to Rs 9,335.32 crore, driven by substantial growth in other income. However, its core revenue from operations dropped due to the transfer of its food business to Patanjali Foods. The company’s total profit surged five-fold to Rs 2,901.10 crore, underscoring a transformative year marked by strategic restructuring and strong financial gains. Below, we break down the company's financial metrics, operational shifts, and strategic highlights.