Business News

Brokerage firm Bernstein maintained a Market Perform rating on HCL Technologies, Nuvama has a buy rating on BHEL, Jefferies recommended a buy on JB Pharma and Goldman Sachs has a buy rating on Hitachi Energy.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Bernstein on IT sector: HCL Technologies, LTIMindTree, L&T TechBernstein maintained a Market Perform rating on HCL Technologies but slashed the target price to Rs 1460 from Rs 1600 earlier.It has a Market Perform rating on LTIMindTree but slashed the target price to Rs 4800 from Rs 5440 earlier.L&T Technologies' target price was also cut to Rs 4070 from Rs 4470 earlier.The brokerage firm is of the view that IT services is in 'mid to late cycle'. Cloud growth has been healthy, and Al-driven. However, IT services growth has remained subdued.Nuvama on BHEL: Buy| Target Rs 400Nuvama maintained a buy rating on BHEL but raised the target price to Rs 400 from Rs 265 earlier.Higher provisioning hits profitability and the pipeline looks stronger. It is best placed to ride a thermal power wave over the next 12-24 months.The brokerage firm revised FY25/26 EPS by (0.4)/7% given the execution of low OPM legacy orders till FY25 and pickup in new order execution from FY26.Jefferies on JB Pharma: Buy| Target Rs 2060Jefferies maintained a buy rating on JB Pharma but raised the target price to Rs 2060 from Rs 2000 earlier.The company reported a small beat in 4Q, but growth drivers remain intact. India business is likely to witness high-teens growth in FY25. FY25 Ebitda margins guidance range increased by 1%.Goldman Sachs on Hitachi Energy: Buy| Target Rs 8250Goldman Sachs maintained a buy rating on Hitachi Energy with a target price of Rs 8250. Revenue outperformance offsets the margin miss.The company reported double-digit EBITDA margin for the first time since Q2FY20. The order inflow and closing order book were up 11.5% and 6% YoY.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

The India Meteorological Department (IMD) has issued a red alert for parts of Rajasthan, Punjab, Haryana, Chandigarh, Delhi, and West Uttar Pradesh. Over the next five days, severe heatwave conditions are expected, with temperatures likely to exceed 47°C in several areas.Temperature Predictions and Regional ImpactSenior IMD scientist Naresh Kumar reported, "Temperatures are currently above normal across North West India, and we had issued a red alert for the region over the past 2-3 days. The maximum temperature is likely to inch further up from 45°C and settle at 47°C in Rajasthan." In Punjab and Haryana, temperatures will gradually increase by 2 to 3 degrees after a slight drop due to a western disturbance. Uttar Pradesh also faces a red alert for the next five days, and an orange alert is issued for northern Madhya Pradesh.Health Advisories for Heatwave ConditionsHealth experts urge people to avoid stepping outdoors between 11 am and 4 pm. Dr. Neeraj Nishchal from AIIMS, Delhi, highlighted that health issues from rising temperatures could range from rashes, heat exhaustion, dehydration, to heat strokes. To minimize the impact, doctors recommend staying indoors, drinking fluids frequently, and wearing lightweight, light-colored clothing.Health Experts Warn of Heat-Related IllnessesHealth experts have advised people to avoid going outdoors between 11 am and 4 pm to prevent heat-related health issues. Dr. Neeraj Nishchal, a professor at AIIMS, Delhi, explained that rising temperatures can cause problems ranging from minor rashes and heat exhaustion to severe heat strokes. "The human body is well-designed to handle heat, but when environmental temperatures rise, the body's heat dissipation mechanism becomes overwhelmed," said Dr. Nishchal. "This can lead to serious problems like heat stroke, where body temperature exceeds 40°C, potentially causing multi-organ dysfunction."Precautions to Minimize Health RisksDr. Jatin Ahuja, an infectious disease specialist at Apollo Hospital, emphasized early signs of heat-related illnesses, such as heat cramps and heat exhaustion. He noted that these conditions are reversible if addressed promptly. Dr. Ajay Kumar Gupta from Max Hospital, Vaishali, reported an increase in patients suffering from heat-related issues, with some requiring hospitalization.To minimize risks, health experts recommend:Staying indoors between 11 am and 4 pm.Wearing lightweight, light-colored, loose cotton clothes.Using protective measures like hats, sunglasses, and umbrellas.Drinking plenty of water, even if not thirsty.Peak Power Demand Hits New HighDelhi's peak power demand surged to a record 7,557 MW at 3:33 pm today, driven by a heatwave affecting several parts of the national capital. According to the State Load Dispatch Centre's real-time data, this demand surpasses the previous record of 7,438 MW set on August 22 last year. Electricity companies predict that Delhi's peak power demand could exceed 8,000 MW this summer.Historic Power Consumption TrendsLast year, Delhi's highest-ever peak power demand was recorded at 7,695 MW on June 29, 2022. Today’s figure marks a significant milestone, as it is the highest demand ever recorded for the month of May. This is the third consecutive day that Delhi's peak power demand has crossed the 7,000-MW mark. The previous highest demand for May was 7,070 MW on May 19, 2022.Temperature Surge Driving Power UsageThe spike in power consumption is largely due to the rising temperatures across the city. In April, Delhi's peak power demand varied between 3,809 MW and 5,447 MW. This year, April saw a similar range, with peak demand between 3,388 MW and 5,422 MW.Possible Relief in Southern IndiaWhile the northern regions endure the heat, relief is anticipated in the south. The IMD forecasts heavy to very heavy rains, up to 12 cm, in Tamil Nadu and Kerala over the next 2-3 days, providing some respite from the summer heat.(With inputs from ANI)

Mumbai: Shares of logistics solutions provider Delhivery tumbled over 10% on Tuesday after the company's fourth-quarter results prompted some brokerages, including CLSA, to cut their price targets on the stock. The price targets after the March quarter results imply a 15-74% upside in the stock from Tuesday's closing price of ₹390.CLSA downgraded its rating on Delhivery to underperform from buy citing volatile growth in the express parcel segment."Margin improvement is volatile as the small impact on utilisation for its network impacts the margin as pricing power is limited," said the brokerage, while slashing its target price from ₹600 to ₹488.Some analysts are, however, optimistic about the company's prospects. "We think that what happened with Delhivery was one-off event where we saw a knee-jerk reaction from the market to its results," said Hemang Jani, director, Finazenn. "Its fourth quarter results have been good and the only vertical which was disappointing in terms of revenues and profitability has been its express parcel service."Shares of Delhivery were listed in May 2022 at ₹495.2 and have been trading below the listing price since October 2022.UBS retained its buy rating on Delhivery and raised its price target to ₹615 from ₹600 earlier."Delhivery surprised positively with strong turnaround in profitability based on strong incremental gross margins," said the firm. "Delhivery had 50% incremental gross margins in the transport business."Jani is positive about the outlook of the company."The capex of the company has peaked out and most of its key clients have raised money and will continue their business with the company," said Jani. "We are positive on the company and have a buy rating along with a target price of ₹550."

Mumbai: The Nifty Midcap 150 index hit an all-time high on Tuesday, extending its recent record-breaking run led by a run-up in shares of public sector companies. The index rose 0.3% to end at 19,413 - a record close, while the benchmark Nifty gained 0.1% to close at 22,529.05. The volatility index, or India VIX - market's fear gauge, jumped 6.3% to 21.81, suggesting traders see risks in equities in the near term.110316381In the past year, the Midcap 150 index has gained 7,077 points, or 57%, with 10 stocks such as Hindustan Zinc, Suzlon Energy, Vodafone Idea, BHEL and PB Fintech contributing 1,960 points, or nearly 28%, to the gains.