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Dec 9, 2021 5:00 PM

Remain positive on Vodafone Idea, target price Rs 18: Ambareesh Baliga

Independent market expert Ambareesh Baliga remains positive on Vodafone Idea. "I have been giving a buy call on Vodafone Idea for the last two to two-and-a-half years. First I said that surely Vodafone Idea will not shut down, because India or the government cannot afford to have only two telecom companies. And they cannot afford to shut down Vodafone. So there will be something to ensure that Vodafone survives. And that happened. We saw that initial move and after that, one needs to see whether the operations are sustainable or not. And now with this hike in the subsequent tariffs, I think that is clearly shown the way that Vodafone idea will have a sustainable model going ahead," he said.

"With that confirmation, we have seen the next move from that Rs 9-10; I think it can go to about Rs 18. But beyond that, I think it will be a bit difficult. So that's the reason I have given a target of about Rs 18 for this stock, because beyond that, investors will wait to see the performance in black and white, which is still some time away. At the same time, a lot of people are stuck when the stock came down from those higher levels. So at every level, you see a decent amount of selling, so my target is Rs 18 and I will participate in this stock till then," he added.

Dec 9, 2021 4:43 PM

Market At Close | Financials underperform; HDFC Bank, SBI top losers

Here are some highlights:

--Nifty Bank slips 202 points to 37,082; midcap index rises 186 points to 30,955

--ITC top Nifty gainer after analyst meet announcement

--Vodafone Idea surges 15% on reports of company raising fund for bondholder payment

--Zee continues to gain, up 4% to 52-week high

--Can Fin, Vedanta to consider interim dividend; stocks rise 2-3%

--Whirlpool rises 3% after Wednesday’s 6% fall; Motilal Oswal has ‘buy’ call

--Macquarie says caps on credit-card MDRs will be negative for sbi card; stock down 6%

--Biocon falls 3%; sources say company in talks with Mylan to merge biosimilar business

Dec 9, 2021 4:20 PM

Exide most underrated auto ancillary company: Ambareesh Baliga

Independent market expert Ambareesh Baliga believes Exide is the most underrated auto ancillary company. "It's a leader in that space. There's a large OEM as well as replacement market where the margins are higher. And the recent deal with HDFC Life actually has created a huge cash surplus or cash reserve for them. Although it's in the equity of HDFC Life, and that is quite liquid. I assume that that will be used for the expansion into the lithium ion batteries plant and that's a decent amount; it's about Rs 6,500-7,000 crore. It's a debt-free company," he said.

"There's also a PLI scheme for lithium ions. I think there's a major misconception in the market that the lead acid batteries, where they are leaders, will actually go to the market because of EVs. But I think it's important to note that the tipping point for EVs against the internal combustion engines would be sometime in 2027 or 2028, which is still an some time away. We will continue to see large number of IC engines car on the roads, at least till about 2035 or 2040, which is close about 18-20 years from now. And at the same time, there are a lot of other applications which will continue using the lead acid batteries because lead acid batteries are much cheaper than lithium ion ones," he added.

"You have telecom, you have electricity backup, railways, commercial vehicles and also the replacement market for the passenger vehicles – they will be there for the next 15 years... I think by then, Exide also would be a very large player in the in the lithium ion battery market. And the market cap is about Rs 14,000 crore and sitting on Rs 7,000 crore of cash. So expecting an EPS of about Rs 12 for FY23. So I'm having a price target of about Rs 240 for the next 6-8 months. But then if you're talking of longer term, I think it's a multi bagger," Baliga said.

Dec 9, 2021 4:16 PM

Fairly optimistic on commodities, commodity manufacturing, textiles, engineering, automotive chain: Kenneth Andrade

Kenneth Andrade, Founder and CEO of Old Bridge Cap Management, said: "We are fairly optimistic on commodities, commodity manufacturing, textiles, engineering, and the entire automotive chain."

He believes these sectors should be the dominant theme for the remainer of this decade.

Dec 9, 2021 4:13 PM

Market At Close | Sensex, Nifty gain for 3rd day; Reliance, ITC, L&T top movers

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Dec 9, 2021 3:58 PM

Closing Bell | Sensex up 157 points, Nifty reclaims 17,500

The 30-scrip index ended 157.5 points or 0.3 percent higher at 58,807.1 and the broader Nifty50 settled at 17,516.9, up 47.1 points or 0.3 percent from its previous close. Both gauges closed higher for a third straight day.

Gains in auto, metal and fast moving consumer goods stocks were offset by losses in financial shares. (Read more on the closing bell)

Dec 9, 2021 3:45 PM

NSE IT index down 0.5 percent dragged by the Mindtree, HCL Technologies, L&T Infotech

Dec 9, 2021 3:20 PM

Bank of Maharashtra, NPCI partner to launch Contactless Credit Card on RuPay Platform

Bank of Maharashtra (BoM) on December 9 announced that partnered with the National Payments Corporation of India (NPCI) to launch its first credit card on the homegrown card payment network, RuPay.

Dec 9, 2021 3:08 PM

Paytm Payments Bank receives 'scheduled bank' status from RBI

India’s homegrown Paytm Payments Bank Limited on Thursday said that it has been included in the 'Second Schedule to the Reserve Bank of India Act, 1934'. Being a scheduled payments bank, Paytm Payments Bank can now explore new business opportunities.

Dec 9, 2021 2:57 PM

Done with price hikes for now; expect growth in double digits: Asian Paints

Asian Paints is done with price hikes, for now, Abhijit Roy, MD & CEO, told CNBC-TV18. He further said that the company expects good profitability in Q4 of FY22. According to him, there is good growth in the re-painting segment. On crude, he said that the prices do impact the paint industry but not as much as it is believed. However, there is a strong influence of crude on certain key inputs, said Roy.

Dec 9, 2021 2:41 PM

Paytm slips 2%; RBI's proposal to release discussion paper on digital payment charges hits sentiment

Shares of One 97 Communications, Paytm's parent, fell as much as two percent on Thursday after the Reserve Bank of India's (RBI) announcement to release a discussion paper on digital payment charges is seen weighing on Paytm.

Dec 9, 2021 2:33 PM

Star Health Insurance to list on exchanges tomorrow, December 10

Dec 9, 2021 2:20 PM

Market Watch | Buy Adani, Dhampur Sugar: Himanshu Gupta, Globe Capital

- Buy Adani Enterprises with a stop loss of Rs 1,715 and a target of Rs 1,775.

- Buy Dhampur Sugar with a stop loss of Rs 295 and a target of Rs 320-325.

Dec 9, 2021 2:17 PM

Exclusive: Biocon in talks with Mylan to merge biosimilar businesses; IPO likely post merge

A large deal is brewing in the pharmaceutical sector. CNBC-TV18 has learnt that Biocon is engaged in talks with Mylan Laboratories for a merger of Biocon Biologics with Mylan’s biosimilar business. Should this large transaction go through, it would scale up Biocon's biosimilar business and unlock value.

Dec 9, 2021 2:05 PM

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