India's housing market experienced a 7% year-on-year decline in sales during Q4FY26, with launches also dropping by 17%. Despite weaker demand, reduced inventory by 5.1% led to a 6.6% increase in residential property prices, albeit at a slower pace compared to the previous fiscal year. (Source: Financial Express)
JM Financial Limited
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JM Financial Asset Management has introduced a new ₹1,000 crore credit fund, marking their second Alternative Investment Fund in the credit sector. This move signifies JM Financial's continued commitment to expanding their investment offerings.
JM Financial forecasts a positive outlook for FY27, recommending ICICI, Axis, SBI, CUBK, Ujjivan SFB, and DCB Bank. HDFC, Kotak, IndusInd, Bandhan, BoB, and AU SFB receive an 'Add' rating, while YES Bank is suggested as a 'Sell'.
Radico Khaitan shares surged 6%, approaching its yearly high of ₹3,695, buoyed by JM Financial's continued 'Buy' recommendation with a target price increase to ₹3,945. The company anticipates a 20% growth in Product and Auxiliary (P&A) volume, 125 basis points EBITDA margin expansion, and strives to become debt-free by the first half of FY27.
JM Financial issues a warning about incremental increases in fuel prices due to cost-cutting measures, potentially impacting consumers and businesses.
Foreign institutional investors (FII) have sold approximately $9 billion worth of information technology (IT) stocks over the past three years, as reported by JM Financial. Among these, 112 IT stocks have been exited by FII. Notably, despite this trend, 360 ONE Holding has seen a 22% increase in its stock value.
Parle Products is exploring an IPO with banks like Kotak Mahindra, JM Financial, and Axis Bank, aiming for a partial exit of promoters as India's biscuit market moves towards premium brands. The specifics like timing and size of the IPO are yet to be determined.
Gold and silver prices are experiencing a significant boost this week due to heightened tensions in West Asia and crucial economic data releases. According to JM Financial's Pranav Mer, these increases on the MCX have signaled bullish trends for both metals, with silver seeing a 5.7% rise and gold a 1.3% increase.
Suzlon Energy, a key player in the wind energy sector, experienced a notable 20% increase over the past month. JM Financial predicts further growth potential up to 30%. This surge is attributed to their perceived role as an unintended beneficiary, stemming from geopolitical tensions between Iran and the U.S., potentially driving increased demand for alternative energy sources.
JM Financial, a prominent financial services company, has been given a 'buy' rating due to its focus on high return-on-equity businesses and transition away from asset-heavy operations. This rating comes with a target price of ₹160, indicating potential undervaluation in their wealth management, AMC, and private market sectors, suggesting an investment opportunity.
Nagaraj Shetti advises purchasing JM Financial with a target price of ₹141 and Canara Bank at ₹150 for short-term investments, given the current market conditions. Due to Middle East tensions, the Nifty 50 and Sensex experienced a decline on April 9, indicating potential opportunities for investors to buy stocks at lower prices using a "buy-on-dips" strategy.
Swiggy's target price has been lowered to Rs 270 by JM Financial due to concerns about its Instamart strategy. The investment firm believes the strategy is not generating enough value and could lead to market share losses, increased competition, and negative earnings before interest, taxes, depreciation, and amortization (EBITDA) until FY29.
JM Financial suggests focusing on IT, auto, telecom, and metal sectors for growth potential in Q4, recommending Infosys, Maruti Suzuki, ICICI Bank, Tata Steel, and Bharti Airtel. On the other hand, they advise caution towards consumer goods, pharmaceutical, and utility sectors, specifically advising against HDFC Bank, Bajaj Finance, and LTI Mindtree. The report emphasizes a sector-specific approach to stock selection.
JM Financial has been recognized as a 'Leader' in Environmental, Social, and Governance (ESG) practices, receiving a score of 73 from the NSE Sustainability Ratings for their FY 2024-25 data. This independent assessment highlights their strong commitment to responsible business practices.
West Asian tensions could keep gold and silver prices relatively stable, potentially with an upward trend. Investors are advised to closely watch geopolitical events and significant economic indicators.
Gold prices may hold steady due to ongoing geopolitical tensions and key US data, with analysts predicting a range-bound movement. In contrast, silver saw a 0.5% increase on MCX, potentially driven by the depreciation of the Indian rupee, which tends to boost local bullion prices.
Gold and silver prices could fluctuate due to escalating geopolitical tensions in the Middle East and upcoming Federal Reserve decisions. Investors should keep a close eye on global economic data and geopolitical events to predict market movements.