Mon, Nov 25, 2024 1:08 PM
Sanmit Infra Standalone September 2024 Net Sales at Rs 41.14 crore
A Flip by Shubhangi Gupta
Domestic brokerage Kotak Institutional Equities finds the State Bank of India (SBI) well-positioned to deliver on growth and profitability ratios. It gave a target price of Rs 975 for the stock while maintaining a buy rating. Kotak Institutional Equities maintains a "buy" rating on State Bank of India (SBI) with a target price of Rs 975, signaling a 20% upside from the current price.
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FPIs have been on a selling spree over the last one and a half months, withdrawing funds from Indian equities at an unprecedented pace and reversing their earlier purchasing streak. This sudden shift in FPI behaviour has weighed heavily on market sentiment marking the largest consecutive selling streak on record, amid concerns over bribery allegations against Adani Group.
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Emkay Global has slashed its Nifty target by 4% to 25,000, citing a weak earnings season marked by sluggish consumption and deteriorating cash flows. However, the brokerage emphasised that while earnings trends have softened, they do not signal a cause for alarm. Despite the 10% correction in benchmark Nifty index since September 27, Emkay expects markets to “mark time” in the immediate future.
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