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One of the world's largest money managers Vanguard Group's India stock portfolio is faring poorly in the current calendar year, with nearly 60% of the 26 stocks languishing.Vanguard, which owns Indian stocks worth nearly Rs 36,000 crore through its various funds, has seen a decline in its portfolio value by Rs 664 crore in 2024 so far, shows data from ACE Equity. 15 of the 26 stocks from its India holdings have fallen up to 149% on a year-to-date (YTD) basis.The US-registered global investment adviser with over $8.7 trillion in assets under management is the world's second-biggest money manager after BlackRock. <iframe title="Laggards" aria-label="Split Bars" id="datawrapper-chart-PtEnK" src="https://et-infographics.indiatimes.com/graphs/PtEnK/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="496" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); </script>With a 148.5% fall in stock in 2024, Zee Entertainment Enterprises has been the biggest laggard. The stock has been reeling under pressure following a fallout of merger with Sony. Last week, ZEE terminated 50% of its Technology & Innovation Centre (TIC) staff in Bengaluru after a company-formed review panel had suggested substantially reducing losses in its businesses. Vanguard as of the December quarter held a 1.53% stake in the media stock. The shareholding pattern for the March quarter is yet to be released."We believe recalibration measures taken to reset the cost structure by re-visiting content, technology, marketing and people spends will take some time to unfold and the competitive landscape is likely to evolve after the merger of Disney-Viacom18," brokerage Prabhudas Lilladher said.The brokerage maintains estimates and expects sales CAGR of 10% over the next 2 years with EBITDA margin of 11.3%/16.8% in FY24E/FY25E but upgrades rating to Hold from Reduce with a target price of Rs 167.Brightcom Group, down -57.5%, and GHCL, down 47%, are other big underperformers in Vanguard's portfolio. Brightcom stock has been facing hefty selloff after being under Sebi scanner regarding irregularities in preferential share allotment.RBL Bank, Crompton Greaves, Cyient, Indiabulls Housing Finance, IDFC, Coforge and UPL are among stocks from Vanguard's India portfolio that are down over 20% YTD.Bluechips underperformers include Axis Bank, which has lost 9.9% this year, and Infosys, which is down 5.71%.CLSA recently cut the target price for Infosys to Rs 1,706 from Rs 1,741 while retaining an “outperform” rating. It expects Infosys to start seeing recovery in earnings from the first quarter of FY25 on expectations of large deal ramp-ups. <iframe title="Leaders" aria-label="Split Bars" id="datawrapper-chart-8u8dk" src="https://et-infographics.indiatimes.com/graphs/8u8dk/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="371" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); </script>Some top performers from Vanguard's portfolio are Indiabulls Real Estate, following a sharp surge in real estate stocks. The stock is up 66% for the year and hit its fresh 52-week high on Wednesday.Tata Motors DVR, latest Nifty entrant Shriram Finance and multibagger Suzlon Energy are some of the other top performers from Vanguard's India stock holdings.Important Note: For this article, only those stocks were considered where Vanguard holds over 1% stake. According to the Sebi mandate, companies are required to inform about only those investors who hold 1% or more in the company. Furthermore, the shareholding data is available as of the December quarter.(Data Inputs: Ritesh Presswala | ACE Equity)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Gold hit yet another lifetime high in the opening trade on Thursday taking cues from the international commodity prices. US Fed chair Gerome Powell’s statement that the recent job numbers and higher-than-expected inflation readings do not significantly alter the central bank's monetary strategy, lifted the investor mood for bullion triggering a fresh wave of buying activity. The June Gold futures on MCX hit a record high of Rs 69,918 per 10 grams at the opening time. Around 9:20 am they were trading at Rs 69,845 rising Rs 46 or 0.07%. May silver futures also scripted a new high of Rs 79,630 per kg. They were trading at Rs 79,300 around this time, rising Rs 289 or 0.37%. Click to know more Powell’s commentary led to slippages in the dollar and aided gold. The dollar index (DXY) was hovering near the 104.20 mark, down by 0.05 or 0.05%. It has declined 0.33% over the last five trading sessions. On Comex, the gold futures have scripted a lifetime high of $2,308 per troy ounce. Gold has been trading with positivity amid geopolitical tension in the Middle East but the recent uptick in prices has been on account of growing hopes of a rate cut by the US Federal Reserve, Anuj Gupta, Head Commodity & Currency, HDFC Securities said.The next target for Comex gold is $2,320-$2,400 while for MCX gold it is Rs 70,635-71,750/73,555, Gupta said. As for Comex silver, the HDFC Securities analyst estimates the next targets at $26.94-$28.45/$30.09 and Rs 79,570-84000/87,105 for MCX silver.The prices have risen by 3.14% or Rs 2,122 on MCX in April so far, Anuj Gupta, Head Commodity & Currency, HDFC Securities said. On the year-to-date basis, the uptick is Rs 6,596 or 10.44%. As for the Silver contract, the previous month’s gains stand at 5.28% or Rs 3,963 while the YTD gains at 6.15% or Rs 4,581, Gupta added. The price of gold in major physical bullion markets like Delhi, Ahmedabad and other cities is Rs 69,800 per 10 grams while that of 1 kg of Silver is Rs 80,000, Gupta said.Click to know moreAnalyst Neha Qureshi On the Daily chart said that the April MCX Gold contract has surpassed its rising channel pattern and is showing a pattern of ascending highs and lows which indicates an upward momentum. However, the Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies warns against a likely pullback in prices with RSI hitting an overbought zone. She places resistance at Rs 69,990- Rs 70,350 while support at Rs 69,230- Rs 68,980.Intraday trading strategy by Neha Qureshi – Buy MCX June Gold futures at Rs 69500 with a stop loss of Rs 68980 and a price target of Rs 70350.– Buy MCX May Silver futures at Rs 78500 with a stop loss of Rs 77700 and a price target of Rs 79800.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Brokerage Citigroup maintained a sell rating on RBL Bank, Morgan Stanley maintained an underweight rating on L&T Finance, Citi has a sell rating on Federal Bank, and Macquarie maintained an outperform rating on D-Mart.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Citigroup on RBL Bank: Sell| Target Rs 257Citigroup maintained a sell rating on RBL Bank with a target price of Rs 257. The bank has seen a steep uptick in deposit growth. Loans sustained 19% YoY growth.The global investment bank believes that a large part of deposit flows would have accrued towards the end of the quarter.The net interest margins (NIMs) will moderate on a QoQ basis as the build-up of liquidity through the quarter will offset the scale-up of high-yielding advances.Credit costs will stay elevated within the guided range of 1.6-1.7%. Consequently, the return on assets (RoA) print is expected to be closer to 1%.Macquarie on Avenue Supermarts: Outperform| Target Rs 4500Macquarie maintained an outperform rating on Avenue Supermarts with a target price of Rs 4500. The company has delivered broadly in-line sales growth, and the store additions were ahead of estimates.The company is showing steady improvement in the sales growth trajectory. This was a healthy contrast from the last few quarters, which saw weak pre-quarterly commentary.Citigroup on Federal Bank: Sell| Target Rs 135Citigroup maintained a sell rating on Federal Bank with a target price of Rs 135. Advances growth pick up and the deposits growth was higher than expected.The net interest margin (NIMs) trajectory will be key to watch for; expect marginal improvement QoQ. Earnings to be impacted by wage revision.Morgan Stanley on L&T Finance: Underweight| Target Rs 129Morgan Stanley maintained an underweight rating on L&T Finance with a target price of Rs 129. The company has delivered robust retail loan book growth and share of retail in total AUM continues well on track.“We await further details about margins, credit costs, asset quality, etc., in Q4,” said the note. The company appears to be moving in the right direction for the long term, but valuation looks expensive.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

A magnitude-6.0 earthquake struck off northeastern Japan's Fukushima region on Thursday, the Japan Meteorological Agency said, but no tsunami warning was issued.There were no immediate reports of damage or injuries after the earthquake, whose epicentre had a depth of 40 kilometres (25 miles) and which was also felt in Tokyo.Japan, one of the world's most tectonically active countries, has strict building standards designed to ensure structures can withstand even the most powerful earthquakes.The archipelago, home to around 125 million people, experiences around 1,500 jolts every year, the vast majority of which are mild.The United States Geological Survey put the magnitude of Thursday's quake at 6.1, with a depth of 40.1 kilometres. It comes a day after at least nine people were killed and more than 1,000 injured by a powerful earthquake in Taiwan.Wednesday's magnitude-7.4 quake damaged dozens of buildings in Taiwan and prompted tsunami warnings as far as Japan and the Philippines.Japan's biggest earthquake on record was a massive magnitude-9.0 undersea jolt in March 2011 off Japan's northeast coast, which triggered a tsunami that left around 18,500 people dead or missing.The 2011 catastrophe also sent three reactors into meltdown at the Fukushima nuclear plant, causing Japan's worst post-war disaster and the most serious nuclear accident since Chernobyl.The total cost was estimated at 16.9 trillion yen ($112 billion), not including the hazardous decommissioning of the Fukushima facility, which is expected to take decades.