Sat, Apr 20, 2024 10:52 AM
Brokerages cut target prices on Infosys after muted guidance
A Flip by Shubhangi Gupta
Samir Arora, Founder and fund manager of Helios Capital, believes the Indian market rally is sustainable but the growth pace may moderate. "Globally, the market has been chugging along very well. In one month, the Chinese market has massively beaten the Indian market. And over the year to date, the US market would be up 6-7%. And if we look at Nifty 500, it's gained 9%.
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Shares of Voltamp Transformers Ltd. are down over 8% on Friday despite the company declaring its highest ever dividend payout. On Thursday, the industrial electricity transformer manufacturer announced a dividend of ₹90 per share, for the year that ended on March 31, 2024. Last year, the company had announced a final dividend of ₹40 per share along with a special dividend of ₹20 per share.
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Following a strong show by Adani Ports in the March quarter, brokerages increased target prices on the Nifty stock. Global brokerage firm Citi is among the biggest bull on the counter and has given a target price of Rs 1,782, which signals an upside potential of 32% from the current market price.Shares of Adani Ports, which have rallied 100% in the last 1 year.
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