Jefferies has raised Coal India target to Rs 485, citing reasonable valuation and improving earnings. The brokerage forecasts 9% CAGR in FY2628, supported by higher e-auction premiums, rising dispatch volumes, and a rebound in power demand. Coal India remains a cash-rich, high-dividend PSU stock with strong market share.
Indian IT stocks may remain in focus after Oracle reported stronger than expected quarterly results and raised its revenue outlook. Nuvama said the recent 20% correction in Indian IT stocks amid concerns over AI disruption has made valuations attractive, though near term volatility may continue as the industry adapts to Gen AI.
Indian stocks and the rupee saw a strong rebound on Tuesday. This recovery followed a significant drop in crude oil prices. Asian markets also experienced gains. Traders cut bearish bets as tensions eased. Investors are deploying cash into the market. Sectoral indices mostly climbed, with auto and consumer durables leading the gains. Volatility remains a concern for the market.
Indian stock markets have seen valuations ease after a recent sell-off. However, key indices still trade at a premium compared to emerging market peers. This valuation gap, coupled with investor caution, is impacting foreign fund inflows. India's equity market performance has been among the weakest globally this year. Investors remain watchful of geopolitical events.
Judge rejects case brought by the senior worker who alleged she was made redundant after reporting a manager for sharing inappropriate stories about his swinger lifestyle.
