Sebi Chairperson Madhabi Puri Buch on Friday said there is "no need" for the capital markets regulator to comment on the recent steep correction in small and midcap stocks.
NHPC Ltd's shares rise by 10% in 2 days following CLSA's upgrade to 'High Conviction Outperform' despite a slight reduction in target price to Rs 117. CLSA cites attractive entry point and significant future growth potential due to new projects and regulated equity expansion as reasons for the bullish outlook.
ICCL has demanded Rs 100 crore from NSE as pending clearing and settlement dues since September 2022. NSE disputes overcharges, claiming Rs 51 crore refund is pending. Meanwhile, NSE Clearing seeks Rs 104 crore from BSE for the Settlement Guarantee Fund. SEBI is aware of the dispute under the interoperability framework.
Nomura has kept a 'Buy' rating on Axis Bank, highlighting its attractive valuations and strong RoA/RoE outlook, with a target price of Rs 1,230, implying a 20% upside.
ITI Ltd shares surged 5% to Rs 284 after receiving a revised order to transfer 22.258 acres of land for Rs 200 crore. The company received Rs 100 crore upfront, with the balance pending statutory formalities. Despite short-term gains, the stock remains down 25.66% YTD and trades below key moving averages.
Shares of JSW Energy rose by 4.8% after Morgan Stanley gave an 'overweight rating' with a target price of Rs 545. The brokerage cited strong market share gains and projected an EBITDA CAGR of 24% for FY24-28. JSW Energy's renewable energy segment is expected to grow EBITDA by 52%. Despite recent profit declines, the stock showed a modest yearly increase.
JM Financial shares surged 4% to hit an intraday high of Rs 108 following the announcement of a Rs 230 crore tax refund from the Income Tax Department of India. This refund pertains to the assessment year 2008-09 and will positively impact the company's financials.
