Expert Views on Godrej Properties and Prestige Estates Projects

Expert Views on Godrej Properties and Prestige Estates Projects Expert Views on Godrej Properties: Top traders cutting their forecasts of revenue for real estate companies because the lock-down led by Covid-19 increased the uncertainty in this market. One day after the target price for high unsold inventory woes of Oberoi... The post Expert Views on Godrej Properties and Prestige Estates Projects appeared first on stockinvestor.in.

Expert Views on Godrej Properties and Prestige Estates Projects

Expert Views on Godrej Properties and Prestige Estates Projects

Expert Views on Godrej Properties:

Top traders cutting their forecasts of revenue for real estate companies because the lock-down led by Covid-19 increased the uncertainty in this market. One day after the target price for high unsold inventory woes of Oberoi Realty reduced by CLSA, the UBS reduced the share stock to buy and reduced the target price to Rs 300.

In addition, UBS downgraded to buy Godrej Properties and Prestige Estates Projects. UBS has, overall, lowered these stocks’ target prices by 53-57%. UBS thinks the pandemic-induced lockdown has slowed Indians’ residential real estate recovery. 

“Since the lockdown, residential sales have broken down. In view of the economic effects of Covid-19 and of the uncertain income/employment outlook, we expect that the path to normalcy could be longer, “UBS said.

UBS clarified that it took 16 months for aggregated primary property volumes to recover in the sense of the global financial crisis. The brokerage predicts an industry pre-sales decrease of 25% and system realizations pressure for the next fiscal year. 

“Our covered developers still trade at an average discount of 20% with an average Year-to-date drop of 45%, and we conclude that they are at risk because the path to normalcy often longer,” said UBS.

Buy ratings for DLF and Phoenix Mills have been maintained. In the near to medium term the brokerage predicts residential real estate to fixed, but prices are likely to decline by no more than 15-20%. 

In the meantime, CLSA thinks that luxury Mumbai apartments could see a further decline in prices. Expectations for prices have decreased by 10-15% and sales in distress have also fallen, the broker said.

May 13 Stock Market Update Sensex and Nifty 

On the third day of the week, the trading with the bullish trend. The Sensex traded with a gain of 735.11 points reached a 32,106.23 level with 2.34% up. Whereas, Nifty traded with a gain of 208.90 points reached 9,405.45 level with 2.27% up.

In the border market, the S&P BSE Midcap traded with a gain of 173.33 points reached 11,584.73 with 1.52% up. Whereas, S&P BSE SmallCap traded with a gain of 182.48 points reached 10,748.63 with 1.73% up. At the same time, Nifty bank traded with a gain of 913.55 points reached 19,776.40 with 4.84% up.

Top Gaining Stocks: ICICI Bank, Larsen & Toubro, UltraTech Cement, Shree Cement, and Bajaj Finance Ltd.

Top Losing Stocks: Nestle India, Sun Pharmaceutical Industries, Bharti Airtel, and Tata Consultancy Services Limited.

The post Expert Views on Godrej Properties and Prestige Estates Projects appeared first on stockinvestor.in.

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Auto shares on May 13; Bharat Forge Limited surges almost 5%

Auto shares on May 13; Bharat Forge Limited surges almost 5% Auto shares on May 13: On Wednesday, both Sensex and Nifty reported a bullish trend in the stock market on Wednesday after the bearish trend in the last two sessions. The Sensex is trading above 32,000 levels, and Nifty... The post Auto shares on May 13; Bharat Forge Limited surges almost 5% appeared first on stockinvestor.in.

Auto shares on May 13; Bharat Forge Limited surges almost 5%

Auto shares on May 13; Bharat Forge Limited surges almost 5%

Auto shares on May 13: On Wednesday, both Sensex and Nifty reported a bullish trend in the stock market on Wednesday after the bearish trend in the last two sessions. The Sensex is trading above 32,000 levels, and Nifty is trading above 9,300 levels in the stock market. The Sensex gained 724.40 points with a 2.31% increase and reached a 32,094.24 level. While Nifty gained 209.00 points with a 2.27% increase and reached 9,405.55 level.

On the other side, the number of coronavirus cases in India reached 74,281 as of Wednesday, May 13, and deaths reached 24,386.

However, the Nifty Auto shares on May 13 trading bullishly in the stock market. It gained 168.00 points with a 2.94% increase and reached a 5,878.75 level. The list of companies reported a bullish trend in the stock market is as follows:

Tata Motors Limited: The company trading bullishly in the stock market on Wednesday. The company gained 2.55 points with a 2.96% increase and reached 88.70 INR. While in BSE, the company gained 2.65 points with a 3.08% increase and reached 88.90 INR.

Amara Raja Batteries Limited: The company trading bullishly in the stock market on Wednesday. The company gained 13.85 points with a 2.48% increase and reached 572.15 INR. While in BSE, the company gained 13.45 points with a 2.41% increase and reached 571.60 INR.

Hero Motocorp Limited: The company trading bullishly in the stock market on Wednesday. The company gained 64.75 points with a 3.05% increase and reached 2,178.80 INR. While in BSE, the company gained 67.90 points with a 3.21% increase and reached 2,180.80 INR.

Maruti Suzuki India Limited: The company trading bullishly in the stock market on Wednesday. The company gained 188.70 points with a 3.81% increase and reached 5,142.00 INR. While in BSE, the company gained 195.85 points with a 3.96% increase and reached 5,146.00 INR.

Mahindra & Mahindra Limited: The company trading bullishly in the stock market on Wednesday. The company gained 12.55  points with a 3.19% increase and reached 405.60 INR. While in BSE, the company gained 12.85 points with a 3.27% increase and reached 405.85 INR.

Eicher Motors Limited: The company trading bullishly in the stock market on Wednesday. The company gained 95.25 points with a 0.68% increase and reached 14,263.70 INR. While in BSE, the company gained 115.55 points with a 0.82% increase and reached 14,276.00 INR.

TVS Motor Limited: The company trading bullishly in the stock market on Wednesday. The company gained 8.95 points with a 2.65% increase and reached 347.10 INR. While in BSE, the company gained 8.35 points with a 2.46% increase and reached 347.85 INR.

Exide Industries Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.85 points with a 0.56% increase and reached 153.20 INR. While in BSE, the company gained 0.90 points with a 0.59% increase and reached 153.30 INR.

MRF Limited: The company trading bullishly in the stock market on Wednesday. The company gained 1,257.90 points with a 2.18% increase and reached 58,865.00 INR. While in BSE, the company gained 1,060.45 points with a 1.84% increase and reached 58,801.35 INR.

Apollo Tyres Limited: The company trading bullishly in the stock market on Wednesday. The company gained 2.85 points with a 3.13% increase and reached 93.80 INR. While in BSE, the company gained 2.95 points with a 3.25% increase and reached 93.80 INR.

Bajaj Auto Limited: The company trading bullishly in the stock market on Wednesday. The company gained 71.30 points with a 2.71% increase and reached 2,700.65 INR. While in BSE, the company gained 71.10  points with a 2.70% increase and reached 2,702.55 INR.

Bharat Forge Limited: The company trading bullishly in the stock market on Wednesday. The company gained 14.15 points with a 4.98% increase and reached 298.15 INR. While in BSE, the company gained 13.85 points with a 4.88% increase and reached 297.85 INR.

Ashok Leyland Limited: The company trading bullishly in the stock market on Wednesday. The company gained 1.80 points with a 3.70% increase and reached 50.40 INR. While in BSE, the company gained 1.90 points with a 3.91% increase and reached 50.45 INR.

Motherson Sumi Systems Limited: The company trading bullishly in the stock market on Wednesday. The company gained 3.20 points with a 3.90% increase and reached 85.25 INR. While in BSE, the company gained 3.15 points with a 3.84% increase and reached 85.20 INR.

The only loser in the Auto Sector on May 13 stock market is as follows:

Bosch Limited: The company trading bearishly in the stock market on Wednesday. The company lost 38.90 points with a 0.40% decrease and reached 9,728.50 INR. While in BSE, the company lost 60.90 points with a 0.62% decrease and reached 9,710.00 INR.

In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Wednesday. It gained 166.97 points with a 1.59% increase and reached a 10,733.50 level. The S&P BSE Midcap index gained 155.65 points with a 1.36% increase and reached an 11,568.98 level. While Nifty Bank gained 911.00 with a 4.96% decrease and reached a 19,798.70 level.

Top Gainers on May 13: Larsen, ICICI Bank, UltraTech Cement, Bajaj Finance, and Axis Bank are the top gainers in today’s stock market

Top Losers on May 13: Nestle India, Sun Pharma, and Bharti Airtel are the top losers in today’s stock market. 

The post Auto shares on May 13; Bharat Forge Limited surges almost 5% appeared first on stockinvestor.in.

Source : Stockinvestor More   

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