Pick of the weel (Feb 7)
By IANS| Updated: 7th February 2021 12:06 pm IST
Recommendation by HDFC Securities
While LICHF’s operating performance was in line with estimates, (PPOP growth at 1.3/3.4%), earnings were ahead of estimates as provisioning continued to undershoot estimates. Over the years, non-core assets have contributed to a bulk of the portfolio growth, resulting in disproportionate risk (already reflecting in high developer NPAs). Furthermore, the company holds negligible provisions on early-bucket stressed assets. Potentially elevated provisions, coupled with stiff competition from banks in LICHF’s core business underpin our REDUCE rating (revised target price of INR 381).
Jubilant FoodWorks Reduce
Share Market Highlights: Sensex ends 263 points lower, Nifty at 14,146; NTPC, Asian paints, M&M top losers January 07,2021 09:24 IST
Sensex, Nifty Highlights on January 5: After opening at record highs, market indices turned volatile and closed lower on Wednesday, tracking cues from mixed global equities. Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. Sensex earlier opened 190 points higher at 48,592 and Nifty gained by 41 points to 14,240. During early session today, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244. Yesterday, Sensex ended 260 points higher at 48,437 and Nifty gained by 66 points to 14,199. On the currency front, Indian rupee appreciated 3 paise to 73.14 against the US dollar on Wednesday s opening trade, tracking most Asian currencies amid concerns about more lockdowns in major economies.