Latest Stock Market News

ICICI Securities maintains an Add call on Pidilite Industries, lowering the target price to Rs 3,123. The company’s strong product portfolio and distribution reach are seen as positives, but risks include a slowdown in housing activity and rising raw material prices. Pidilite reported a net profit of Rs 557.53 crore for Q4 2024.

TBO Tek shares are in focus due to a Rs 400 crore block deal, with Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd selling a 3.1% stake. The company is shifting its strategy to focus on travel experiences, with ancillary services growing rapidly. The stock has a target price of Rs 1,929, showing a 52% upside.

TCS, Infosys, SBI, ITC, Sun Pharma, LIC, and NTPC are trading below their industry PE ratios, indicating potential value picks. These large-cap stocks, according to Trendlyne, could increase by up to 38%. Analysts target prices suggest significant upsides for these stocks, with TCS, Infosys, and LIC among the highlighted opportunities for investors.

Axis Securities recommends a buy on Prestige Estates Projects with a target price of Rs 1,820, up from its current Rs 1,201.85. Despite challenges, Prestige s annuity business remains strong, launching three new projects with a 90% occupancy rate. The company aims for significant exit rentals growth by FY28, bolstering its robust market position.

Foreign institutional investors (FIIs) continued to sell Indian stocks in early March, affecting multiple sectors, except metals. However, the sell-off has shown signs of slowdown with the US Fed s rate pause and brighter outlook, potentially reversing outflows and boosting Indian equities.

Indian equity indices opened in the red on Friday, with IT stocks pulling down the market due to concerns over U.S. discretionary spending. The BSE Sensex dropped 114 points, while the Nifty50 slipped 14 points. Infosys, TCS, and HCL Tech were among the top losers. Conversely, Ola Electric Mobility surged 5% in early trade.

JM Financial has recommended buying Tata Communications stock with a target price of Rs 2,030, indicating a potential 35 percent increase. Tata Communications, a mid-cap company, operates in the telecommunications sector. The company reported a net profit of Rs 223.88 crore for the quarter ending December 2024. Promoters hold 58.86 per cent stake as of December 2024.

RVNL shares: The contract entails the construction of a six-lane access-controlled road connecting to the Visakhapatnam Port in Andhra Pradesh. This crucial infrastructure project is expected to enhance regional trade and improve transportation efficiency.