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March 06, 2025

ZAGGLE PREPAID: Co. has entered into an agreement with Tech Mahindra Limited.
Tech Mahindra Limited will be utilising Zaggle’s Spend Management Dashboard “Zatix” for improved visibility on their Corporate & Purchase Card spends, issued in partnership with SBI Cards.
Canada PM's Office: Trump spoke to Canada PM on Wednesday.
MOSCHIP TECH ; MosChip® Technologies launches MosChip DigitalSky GenAIoT™, a digital solutions suite combining IoT, AI, Edge AI, workflow automation, security, and application modernization.
It helps industries like smart homes, healthcare, automotive, and energy build smart products faster with improved performance and efficiency.
Trump and Trudeau discussed fentanyl and trade - Canadian source.
US and Canadian sides will continue to hold discussions on Wednesday, Canadian source.
US Commerce Secretary Lutnick: Trump is leaning towards USMCA market excluded from tariffs.
Trump is leaning towards helping out automakers for a month.
Axis Cap Upgrades Can Fin Homes
Upgrade to BUY from ADD, tgt 770, 28% upside
Karnataka and Telengana issues are transient and will be resolved
Price corrections of 28/11% in the past three/one month offer valuation comfort backed by secured assets, a 17% RoE, and no capital requirement
US Commerce Secretary Lutnick: The April 2nd tariff agenda is coming.
US Commerce Secretary Lutnick: There is going to be a short period of time where there are high prices on certain items following tariffs.
Trump: The call with Trudeau ended in a “somewhat” friendly manner.
vTrump and Canada PM Trudeau spoke about fentanyl and trade, both nations will be in contact later on Wednesday - Statement from Trudeau's Office.
The fentanyl efforts not good enough.
US Commerce Secretary Lutnick: Tariffs will create production in the US.
OLA ELECTRIC: Ola Electric Technologies received a ₹73.74 crore incentive under the PLI-Auto Scheme for its FY 2023-24 sales.
The sanction order from the Ministry of Heavy Industries was issued on March 5, 2025.
Jefferies expect a near-term bounce!
Nifty valuations are close to LT avg
Nifty relative valuations against the MSCI EM close to the 10-yr avg
DXY down 4% from the peak, FPI flows might turn
FPl ownership near decadal low
MSCI India may potentially outerform the MSCI EM Index in the coming period
Near-term govt. spending uptick driving broader economic uptick
Regulatory easing by RBI (rate cuts, liquidity boost, MFI relaxations)
Domestic flows have been strong so far
DOLLAR INDEX FALLS BELOW 105 , DOWN 1.2 % .. AT NOV 8 LOW
JEFFERIES ON RELIANCE
Buy Rating ,Target Price 1660 ( 43% Upside )
Valuations are the cheapest since the COVID lows
Worst behind for Retail, growth should accelerate
Jio's steady performance likely to continue
O2C softness could reverse on refining recovery
WH Press Sec. Leavitt: Trump spoke with the heads of the big three automakers.
Reciprocal tariffs still going into effect April 2nd.
The US is giving 1 month exemption on autos coming via USMCA.
WH Press Sec. Leavitt: The US is giving 1 month exemption on autos coming via USMCA.
WTO: Canada initiates a WTO dispute complaint regarding US tariff measures.
WH Press Sec. Leavitt: Reconsidering funding for Ukraine.
Talks on the mineral deal are happening.
Macquarie on PFC/REC
PFC/REC have declined in past few mths which, believe, is due to weak PSU sentiment
Believe concerns like
decline in growth
increasing competitive intensity
soft power demand are overblown
Maintain O-P; REC –TP Rs 700 & PFC TP Rs 680
UBS on Star Health
Upgrade to Neutral, TP cut to Rs 400
Deterioration in operating metrics priced-in; +ve catalysts missing
Retail health growth optically lower; group health run-down begins
Combined ratio to remain elevated post change in accounting norm
GS on KEI Ind
Neutral, TP Rs 3780
Management meet takeaways;
With 75% of total cost being RM cost, mgmt believes there is not much scope for any player to adopt a deep discounting strategy
Additionally, management noted that exports outlook remains strong
JEFFERIES ON RELIANCE IND
(CMP: ₹1,175.60)
MAINTAIN BUY TARGET PRICE: ₹1,600
Reliance Ind's Underperformance To Nifty Is Due To A Slowdown In Retail & Subdued Earnings In O2C
Pessimism Seems Extreme With Current Mkt Cap Implying $ 48 bn EV For Retail Vs $ 106 bn In Last Funding Round.
Combination Of Ssg Growth & Area Addition Should Restore 15% Growth In Retail In FY26.
A Tariff Hike, Likely Listing Of Jio & Improvement In O2C Profitability Are Other Potential Triggers
ANTIQUE ON INDIAN HOSPITALITY SECTOR
Industry reports indicate double-digit growth in average room rates for 4Q
Mumbai leads with the highest average rates, growing 21-23%
Recent stock correction makes hotel valuations attractive
Maintain HOLD rating on IHCL with a target price of ₹750 due to relatively high valuation
ANTIQUE ON POWER GRID CORPORATION OF INDIA
Maintain Buy rating with a target price of 353 (unchanged)
Order book at ₹1.4 trillion (9MFY25), up 60% vs FY24
Growth driven by consistent transmission order wins and a strong bid pipeline
Expect consolidated PAT growth of 7-8% in FY26/27E
Structural growth story remains intact
CREDITACCESS GRAMEEN FEB BIZ UPDATE
Positive business momentum led by healthy loan portfolio growth across all geographies, partially offset by lower growth in Karnataka
Over 1.5 lakh new borrowers added during Jan-25 & Feb-25
Stabilizing asset quality led by declining PAR accretion rate across all states, partially offset by higher PAR accretion in Karnataka
X bucket collection efficiency (Excl. Karnataka) >99.5% in Feb-25
X bucket collection efficiency in Karnataka declined from ~99.4% in Dec-24 to ~95.1% in early Feb-25 and later improved to 98.0% by last week of Feb-25
Enhanced collections efforts with strong control on employee attrition, employee base increasing from 19,333 in Dec-24 to 20,265 in Feb-25
Healthy collections from PAR buckets, with >40% of borrowers in PAR 1-60 making partial payments
Nifty gives gap-up opening; starts above 22,400 mark
Nifty Bank too starts above previous session high
BOFA Sec - Select Buy ideas within Nifty
HDFC Life– PO: Rs875, Potential upside: 42%
M&M– PO: Rs3650, Potential upside: 40%
Bharti Airtel - PO: Rs2085, Potential upside: 31%
L&T – PO: Rs4150, Potential upside: 30%
Titan– PO: Rs3980, Potential upside: 29%
NMDC , NALCO; Mines Ministry holds important meeting with stakeholders on mineral exports to the USA, as per sources - ETNOW
NDR AUTO ; NDR Auto Components received a letter from the Relan Family regarding a Family Settlement signed on March 3, 2025.
The Company is not a party to it, and there will be no impact on management, control, or promoter shareholding.
Analysts are the most bullish on Reliance ever! With 90% buy calls, is the worst over? Jio IPO buzz, ARPU growth & telecom consolidation fuel optimism!
Analyst percentage represents the share of Buy calls among total analyst recommendations.
BHARAT SEATS: Bharat Seats received a letter from the Relan Family about a Family Settlement signed on March 3, 2025.
The Company is not a party to it, and there will be no impact on management, control, or promoter shareholding.
NIFTY DOWN 80 PTS , DOWN 200 PTS FROM OPENING
REC Says Disbursements Will Increase By 18%-20% YoY In FY25
Government Has Set 35% As The Ceiling For Us To Provide Working Capital Loans - CNBCTV18
HUDCO Says We Have Been Careful In Financing Infrastructure Projects
Government Has Set 35% As The Ceiling For Us To Provide Working Capital Loans
Will Not Compromise On Loan Mix
SAMHI HOTEL Ceo Says Hotels will be a direct beneficiary as aviation capacity increases,'
Company's revenue will grow by 15-16% over next 2-3 years.
The Decline of So-Called "Safe" Large Caps
Investors often view Large-cap stocks as a cornerstone of stability within their portfolios. However, recent data reveals that the Top 100 Large Cap Companies have experienced a wide range of declines, from -63% to -3%, with a Median drop of -25% and an Average decline of -26%. This highlights that even the most established, Large companies are not immune to broader market trends and fluctuations.
In this backdrop, our Small Cap fund Equitree Emerging Opportunities has experienced a drawdown of only -22% from its peak, while the broader markets have declined by approximately -35% to -37%. This demonstrates the effectiveness of our strategic approach in managing risk and protecting capital, even during periods of market turbulence.
While Small-Cap stocks are generally more volatile than their Large-Cap counterparts, they do not inherently carry more risk when part of a well-researched, diversified, and actively managed strategy.
By capitalizing on the expertise of an experienced fund manager, investors can effectively navigate the growth potential of small-cap stocks while managing associated risks, creating a robust strategy for long-term wealth accumulation.
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CBI registers case against M/s Jai Corp Ltd, its Director Anand Jain, M/s Urban Infrastructure Venture Capital, M/s Urban Infrastructure Trustees Ltd and other for allegedly defrauding funds to the tune of ₹ 2,434 crore from investors (public investors in Real Estate projects).
2025 will not be a repeat of 2008; advising clients to go very long on India: Jim Walker
Source: The Economic Times Shared via the Google app https://search.app/?link=https://m.economictimes.com/markets/expert-view/2025-will-not-be-a-repeat-of-2008-advising-clients-to-go-very-long-on-india-jim-walker/articleshow/118710261.cms&utm_source=dsdf,sh/x/discover/m1/5

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