Prabhudas Lilladher
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Axis Bank stock plunges 7% amid concern over credit cost
Shares of Axis Bank slumped nearly 7 per cent on Thursday to ₹1,150.50 on the NSE due to concern over credit costs. The bank on Wednesday reported a 5.66 per cent rise in consolidated net profit for the June quarter at ₹6,436 crore. However, its gross non-performing assets (GNPA) increased sequentially.
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Adani Group’s Ambuja Cements stock surges on Penna Cement acquisition
Shares of Ambuja Cements hit a new high on Friday’s trade following the acquisition of Penna Cement.
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Time for mutual funds to tap the water theme
Last month, India’s IT city Bengaluru caught the attention of the nation due to its acute water shortage problem, as queues to procure water extended over many miles. As the scarcity was expansive, the Karnataka government even banned the use of drinking water for non-essential purposes — such as car washing, gardening, construction, water fountains and road construction and maintenance. The Bangalore Water Supply and Sewerage Board (BWSSB) had levied a fine of ₹5,000 for any violations of the order, in a bid to mitigate the situation.
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Broker’s call: BEML (Accumulate)
Target: ₹4,004
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SBI Q4 results: Brokerages remain bullish, increases target price
Majority of domestic and global brokerages have maintained their ‘buy’ call on SBI after India’s largest PSU posted record profits.
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Marico surges 10% on strong Q4 results; brokerages bullish with upgraded price targets
Shares of Marico Ltd zoomed 10 per cent on Tuesday after the company reported a 4.9 per cent rise in consolidated net profit in quarter that ended March 2024. A few brokerages even upgraded the FMCG company post-results and hiked price targets.
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Nifty could reach 25,810 if NDA government returns, says Prabhudas Lilladher
Prabhudas Lilladher, one of the leading broking firms, expects the equity market to turn cautious in the run-up to the second phase of the General Election and give up some gains closer to the polling date.