Rain Industries shares hit a life-time high of Rs 286, rising 9.2 percent intraday Thursday after research house Motilal Oswal has initiated coverage on the stock with a buy rating, citing likely strong earnings growth and reasonable valuations.

The brokerage firm set a target price for the stock at Rs 362 per share, implying a potential upside of 33 percent from Wednesday’s closing price.

“Although the stock has got re-rated, valuations still appear attractive. We value the stock at Rs 362 based on 6.5x EV/EBITDA of CY19, and initiate coverage with a Buy rating,” Motilal Oswal said in its report.

After trading at low single digit PE for very long period, Rain has finally got re-rated on visibility of margin expansion and growth d ... Read more »

AxisDirect (www.axisdirect.in), the flagship brand of Axis Securities Limited, a 100% subsidiary of Axis Bank that offers Retail Broking services wins ‘The Top Equity Broker Award’ at The Commodity Equity Outlook Weekend (CEO) 2017. This award was organized by Tefla, under the patronage of Bombay Stock Exchange (BSE) supported by Commodity Participants Association of India (CPAI) and Association of National Exchange Members of India (ANMI). The esteemed annual BSE CEO awards covered the entire capital market and commodity landscape including major brokers, exchanges, banks, mutual funds, insurance, asset managers & debt market. The award was an effort to recognize the key players among capital and commodity markets and AxisDirect came out as a winner a ... Read more »

J Kishore Kumar, MD, Tradejini.com says discount broking has helped increase penetration in the market. Moreover, government’s programmes like Digital India, Jan-Dhan Yojana will help further penetration into rural India.

Tradejini.com has broken the traditional barrier of percentage brokerage and instead empowers the trader to be self-dependent with the power of the Internet or mobile. It charges Rs 20 per executed order irrespective of the transaction value.

According to him mobile trading will be the medium of future for retail investors and with further penetration he envisages an explosion in growth of clients.

As on date there are 24 million Demat accounts in India and excluding multiple ... Read more »

Indian market witnessed profit booking at a higher level for the week ended November 10 as both Sensex and Nifty50 slipped by over 1 percent each. However, there was plenty of action in the small and midcap space.

The S&P BSE Sensex slipped by about 370 points or 1.1 percent while the Nifty50 dropped by 1.2 percent for the week ended November 10. But, nearly 200 stocks gave a positive return in the S&P BSE 500 index.

Stocks which rose in the S&P BSE 500 index include names like RattanIndia Power rose 31 percent, followed by Rain Industries (25 percent), Kitex Garments (23 percent), Titan Company (18 percent), India Bank (16 percent), MMTC (16 percent), L&T Infotech (15 percent), HSIL (13 percent) etc. among others.

Sectors which managed to outperform benchmark indices include Consumer durable which rose by 10 percent, followed by IT ... Read more »

The prevailing theme for Gian Piero Ventura’s run as Italy coach was that the 69-year-old journeyman manager was in far over his head.

Having never coached a major club before taking over the national team last year, Ventura covered himself in disgrace on Monday when four-time champion Italy failed to qualify for the World Cup for the first time in six decades.

Ventura was widely criticized for poor tactical decisions before and after Sweden’s 1-0 aggregate win over the Azzurri.

After the scoreless draw in the second leg, it was a foregone conclusion he will be fired according to a contract stipulation in case of a failed qualification, unless he resigns.

“I’m not resigning because I haven’t ... Read more »