Numbers. Profits miss estimates by a penny. The massive data breach hang over the stock. Macys downgrade with disappointing results, dicks and urban outfitters. All moved lower. A vote coming for obonomics in japan. And well have an exclusive interview with the ceo of halliburton to buy baker hughes. Revenue above consensus rose better than expected 5. 2 . Retail noting at 28 million and expenses for that recent data breach adding it cannot estimate the total cost of the breach which for the year, about 34 million. Not bad in a tough retail environment. Traffic up. I think what happened is last week macys reported a quarter where they cut the forecast, yet the stock rallied too after being down one. That caused a lot of people to say it doesnt matter what retailers do. Its going to be a good holiday. Gasoline down, employment up means you can suspend what people think. Lots of stocks ran. When you run into a quarter, suddenly we take it into account the way we didnt when macys was stal
Sanjiv Bhasin suggests focusing on Marico, Nestle, Hindustan Lever as top FMCG picks, adding Godrej Consumer. Largecap private banks like HDFC, ICICI, Kotak, Axis, IndusInd are recommended amidst various market dynamics and sector-specific opportunities. Bhasin says the wealth effect means real estate is the real play. Along with that, FMCG and IT will now be more defensive with pharma as a constituent for the index till the results.
Sanjiv Bhasin advises on market recovery, consumer stock investment, and potential buys such as Rattan Power, Coal India, Coforge, and Bajaj Finserv. He also highlights FII impact and Kotak Bank s analysis. Bhasin says: "We have an accumulate on Kotak Bank and we think this is a very good time as most of the negatives are priced in, the positives will be outweighed but time will have to be given over here."
AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.