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Buy CESC, target price Rs 108: HDFC Securities

Updated at : 2023-01-11 11:55:03

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CESC, incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 9902.01 Crore) operating in Power sector.

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These include reduction in excess liquidity, higher value for CASA deposits, and shift towards relatively higher-margin loans and lower slippages driving lower interest income reversals,” Morgan Stanley said.

Indian Oil Corp. shares gain 1.61% as Sensex rises

Updated at : 2023-01-11 11:55:03

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The stock quoted a 52-week high of Rs 90.67 and a 52-week low of Rs 65.2.

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Promoters held 0.0 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 17.35 per cent and 21.19 per cent, respectively.

As a result, the brokerage expects AUM growth of 6.6% QoQ/28.5% YoY.

The company’s board meeting will be held to accept and take note of the resignation of Palak Salecha from the post of Company Secretary and Compliance Officer of the Company.

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"Oil prices are holding up now because it is winter in the advanced countries. Post March-April, with the slowdown coming, we will definitely see oil prices trending down and from a retail consumer perspective, if the government passes on the oil price decrease, that also will be a boost for vehicles."

“Options data suggests a shift in the trading range in between 17600 to 18300 zones while an immediate trading range in between 17700 to 18200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

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"The market has already thought that the IT companies will do quite badly and we have seen that some of the sheen has gone away from the stocks. In that context, if you were to look at TCS’ numbers, it was not any different from what the market has been expecting, the growth has been reasonable and we are still looking at the mild double digit kind of bottom line growth over the next couple of years."

Goldman Sachs maintained a buy rating on PVR for a target of Rs 2250. It was a subdued quarter which is not indicative of underlying weakness. The risk-to-reward ratio is attractive. Improving content slate, and strong pricing power are key triggers for PVR.

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