Indian stocks are set for a strong performance after a year of stagnation. Brokerages are recommending over 50 stocks for the upcoming Samvat 2082. This optimism is fueled by attractive valuations and projections of double-digit earnings growth. Sectors like autos, consumer durables, power, financials, and manufacturing are expected to lead the rally.
Canara Robeco AMC's IPO share allotment is expected today following a robust investor response, with the issue set to list on October 16. The IPO was subscribed 9.74 times overall, driven by strong demand from Qualified Institutional Buyers. Investors are keen to check their allocation status online via the registrar or BSE portal.
US President Donald Trump avoided taking a stance on recognizing a Palestinian state. He emphasized the immediate need to rebuild Gaza and negotiate peace. Trump stated that discussions on the political structure of a future Palestinian state would take time. He previously criticized international efforts to advance Palestinian statehood, calling it a reward for Hamas.
HCLTech's September quarter revenue grew better than anticipated, marking a return to sequential growth. Profit growth met expectations. The company is focusing on AI services and intellectual property. New deal wins showed strong momentum, particularly in smaller contracts. Headcount increased, and attrition softened. Salary increments in October may impact future margins.
Investors anticipate a robust debut for LG Electronics India's IPO, which saw overwhelming subscription. Analysts point to attractive valuations, a debt-free status, and strong returns as key drivers. Despite a slight dip in grey market premium due to broader market sentiment, the company's competitive pricing and solid business outlook suggest significant listing gains, potentially around 30-35%.
Eyewear retailer Lenskart is preparing to launch its 8,000-crore IPO in early November, aiming to capitalize on strong investor interest in large public offerings. The issue will include a fresh issue of 2,150 crore and an offer for sale by existing shareholders.
Several mutual fund houses have halted fresh lump sum investments in Silver ETF Fund of Funds due to a significant domestic price premium. This measure aims to protect retail investors from buying silver at inflated prices, a situation driven by temporary physical scarcity and surging demand.
Tata Capital's stock began trading on Monday at 330, a slight increase from its IPO price. The debut was as anticipated, with analysts suggesting rich valuations limited immediate gains. The company's market capitalization reached 1,40,547.61 crore. Tata Capital's performance is being compared to industry leaders like Bajaj Finance.
