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The Finance Minister on Friday at the CII Annual Business Summit 2024 projected that the Indian consumer market is poised to double by 2031. Additionally, India is expected to contribute 18% to global growth in the next five years. Emphasising the strength of India's growth narrative, the FM stated that it is compelling. Furthermore, the Finance Minister expressed confidence in the robust health of both the corporate sector's balance sheet and the finance sector's balance sheet.Sitharaman also stressed the necessity of enhancing manufacturing capabilities to foster self-reliance and economic growth. She also pointed out the importance of sophistication in product manufacturing, highlighting that a concerted effort to expand this sector is crucial. By bolstering manufacturing, India can not only meet domestic demand more effectively but also reduce dependency on imports, thus advancing towards self-reliance, the FM stressed.Sitharaman also highlighted India's position as the fastest-growing economy, acknowledged by global observers and institutions. She expressed confidence in Prime Minister Narendra Modi securing a strong majority in the upcoming elections and outlined a vision for India's future.The finance minister confirmed that the suggestions put forth by the CII will be integrated into the July budget.She added, "It has always been a time when CII has always laid before itself and the nation an approach to working together with the government and also making sure that globally industry partnership takes a clear cut route so that the global challenges are faced with a greater understanding and the national opportunities, that exist, are also fully leveraged."

Shares of Naukri.com's parent company Info Edge (India) jumped 8% on BSE in Friday's trade to the day’s high of Rs 6,338.55 as the firm reported a Q4 profit of Rs 211 crore, rising 18% year-on-year (YoY).Naukri’s revenues were recorded at Rs 608.3 crore, a 7.9% growth from the same period last year and the company also announced a dividend of Rs 12 per share for the financial year 2024.“Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of Rs 4,191 crore as of March 31st, 2024. This consistent performance in cash flow generation underscores our company's robust financial health and positions us well for future investments and shareholder returns," Info Edge CFO Chintan Thakkar said.Also read: Banking and IT stocks drag Sensex over 100 points lower; Nifty below 22,400Here’s how brokerages view the quarterly results of the company:Kotak Institutional EquitiesNaukri posted in-line revenue growth of 8% YoY in 4QFY24 and Naukri billings growth of 7% YoY was seen as positive with the company witnessing higher job postings from IT companies. 99acres seems to be turning a corner and posted a cash profit in 4Q.“We model lower losses in 99acres resulting in EPS increase and align value of investments in Zomato and PB Fintech to latest Fair Values,” added the KIE report.Kotak has an ‘add’ rating on the stock with a revised target price of Rs 6,550.NomuraNomura has lowered its FY25F EPS by 4% driven by higher advertising spending and investments in its core recruitment vertical, while the FY26F EPS remains unchanged. The brokerage firm has raised its target price due to higher valuations of listed investments like Zomato and Policybazaar.IT billing shows first signs of turnaround, said Nomura.The brokerage has a ‘buy’ call on the stock with a target price of Rs 6,750.Nuvama“Info Edge (IEL) reported in-line Q4FY24 results. Revenue at INR6.1bn, +7.9% YoY, came in line with our estimate of INR6.0bn. EBITDA at INR2.5bn (+12.1% YoY), was slightly above our estimate of INR2.4bn (+8.0% YoY). EBITDA margin came in at 40.6%, +20bps QoQ. Adjusted PAT at INR2.2bn, too, came in line with our estimate,” said a report by Nuvama.Nuvama has a ‘buy’ rating on the stock with a target price of Rs 7,050.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Brokerage firm JPMorgan maintained an overweight rating on LIC Housing Finance, Nomura has a buy rating on Info Edge, BofA Securities recommended a buy on Biocon and Jefferies upgraded M&M to buy.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on LIC Housing: Overweight| Target Rs 900JPMorgan maintained an overweight rating on LIC Housing but raised the target price to Rs 900 from Rs 700 earlier.The asset quality performance was solid in Q4. The management guided a growth pickup in FY25. Delivery of FY25 growth guidance will be key for further re-rating of the stock.Nomura on Info Edge: Buy| Target Rs 6750Nomura maintained a buy rating on Info Edge but raised the target price to Rs 6750 from Rs 6210 earlier post Q4 results.The company reported strong billing growth across all segments. IT billing shows the first signs of a turnaround.Real estate is showing a strong recovery with positive industry tailwinds. Other verticals such as matrimony and education continue to grow.BofA Securities on Biocon: Buy| Target Rs 345BofA Securities maintained a buy rating on Biocon post Q4 results but raised the target price to Rs 345 from Rs 310 earlier.There is traction in Biocon Biological Ltd (BBL) and lower R&D drives beat in Q4.Core margins remain lower, but R&D guidance moderated.Jefferies on M&M: Buy| Target Rs 2910Jefferies upgraded M&M to a buy from hold earlier post Q4 results but raised the target price to Rs 2910 from Rs 1615 earlier.The tractor business is in a late downturn. Expanding SUV portfolio and capacity remains a key monitorable.The global investment bank upgrades FY25-26 EPS by 16-21%. Valuations are still 20% below blended peer average.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Indian market is expected to trade higher on Friday tracking positive global cues.The Nifty future closed positive with gains of 0.84% at 22473 levels on Thursday. India VIX was down by 1.33% from 20.27 to 20 levels.On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22600 strikes while the maximum Put OI is placed at 22000 and then towards 22200 strikes.Minor Call writing is seen at 22500 and then towards 22400 strikes while Put writing is seen at 22300 and then towards 22200 strikes.“Options data suggests a broader trading range in between 21800 to 22800 zones while an immediate range between 22200 to 22600 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.FIIs sold to the tune of Rs 776.49 cr while DIIs bought to the tune of Rs 2127.81 cr on Thursday. FIIs' Long short ratio for index futures is at 26.23 as on a net basis, they sold 14284 index futures.“The weekly series, OI PCR, is at 1.07 while for the May monthly series, OI PCR is at 1.12, which implies a buy on dips strategy in Nifty,” Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities, said.“While the current momentum is constructive, the zone of 22500-22530 will act as an immediate hurdle for the index. Any sustainable move above the level of 22530 will lead to a sharp upside rally in the index upto the level of 22680, followed by 22770 in the short term,” he said.“On the downside, the zone of 22220-22180 will act as immediate support for the index. Positionally, the zone 21750-21700 will be the crucial support for the index,” added Shah.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureauCoromandel International: Buy| Target Rs 1380| Stop Loss Rs 1190Power Grid: Buy| Target Rs 337| Stop Loss Rs 303Lupin: Buy| Target Rs 1800| Stop Loss Rs 1620Expert: Kunal Bothra, Market Expert told ETNowAxis Bank: Buy| Target Rs 1188| Stop Loss Rs 1118Tech Mahindra: Buy| Target Rs 1340| Stop Loss Rs 1275IRCON: Buy| Target Rs 275| Stop Loss Rs 250Expert: Nooresh Merani, an independent technical analyst told ETNowRIL: Buy| Target Rs 2950| Stop Loss Rs 2800Hindalco: Buy| Target Rs 700| Stop Loss Rs 630LIC Housing Finance: Buy| Target Rs 700| Stop Loss Rs 630(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)