Fri, Feb 9, 2024 3:10 PM
Cabinet approves telecom spectrum auctions at base price of Rs 96,317.65 cr
A Flip by Shubhangi Gupta
Shares of Bharat Forge Ltd. will be in focus on Tuesday, November 5, after Class 8 truck orders in North America fell short of seasonal expectations in the month of October. Class 8 truck orders in North America fell 6% month-on-month to 28,300 units. When compared to the same month last year, the Class 8 truck orders stood at 28,000 units, implying a 2% growth.
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Foreign investors are souring on India’s stock market, selling a record amount of shares amid signs the South Asian nation’s post-pandemic economic boom is losing steam. Global funds pulled out more than $10 billion on a net basis in October, helping drive the benchmark stock index toward a so-called technical correction.
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Citi initiates a positive catalyst watch on Hindustan Petroleum Corporation Ltd., citing a favourable risk-reward ratio after a 20% correction in shares. The brokerage firm expects a rebound in gross refining margins, stable crude prices, and potential compensation for LPG under-recoveries. Citi's bullish stance contrasts with Goldman Sachs' "sell" recommendation on Indian Oil.
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