Tech view: Nifty has formed a double bottom pattern and a doji candle near key support levels. The 21-day simple moving average (DSMA) at 23,285 makes the 23,280-23,000 zone a strong resistance. On the downside, 22,780 serves as crucial support. Holding above this level, a buy-on-dips strategy is recommended, says Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.
Prudential Plc is planning to list ICICI Prudential AMC, Indias second-largest mutual fund house, through a 10,000 crore IPO. The offering, subject to approvals, will involve a 10-15% stake sale, with proceeds intended for shareholder returns.
Economist Montek Singh Ahluwalia advocates for splitting large states like Uttar Pradesh to spur urban growth and creating 'near-Metros' from tier-2 towns. He points out challenges in achieving 8% annual growth and the complexities of initiating reforms in a fragmented global scenario.
ITC Hotels: Jefferies initiated coverage on ITC Hotels (ITCH) with a buy rating and a target price of Rs 240, citing strong growth potential. It projects a 16%/19% CAGR in EBITDA/PAT over FY24-FY27e and expects occupancy in India to rise to 75% by FY27. ITCHs debt-free balance sheet and strategic expansion plans support long-term growth, despite short-term challenges in greenfield projects.
Jignanshu Gor, from Bernstein India, shares insights on retail and restaurant stocks, highlighting an outperform rating on D-Mart, Trent, Jubilant, and Devyani. He explains the need for continuous innovation in FMCG and the growing impact of quick commerce. Gor emphasizes evaluating brands versus channels and highlights the current growth in apparel, groceries, and beauty products.
King Kong, a 3-year-old water buffalo from Thailand, has been recognized by Guinness World Records as the tallest in the world, standing 6 feet 8 inches tall. Despite his size, he is friendly and playful, enjoying splashing in the pond and interacting with his caretakers. He lives at Ninlanee Farm with his parents and other animals.
The Q3FY25 revenue from operations stood at Rs 11,995 crore, an increase of over 8% from Rs 11,066 crore reported in the corresponding quarter of the previous financial year.
