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Zomato will replace JSW Steel in the Sensex index starting December 23, as announced by BSE. Additionally, several changes will occur in other indices, with companies like Ashok Leyland and IDFC First Bank being dropped from BSE 100, while Jio Financial Services and others will be added. In the BSE SENSEX 50, HDFC Life, BPCL, and LTI Mindtree will be replaced by Zomato, Jio Financial, and HAL.
Geojit Financial Services has issued a BUY recommendation for Suzlon Energy, setting a target price of Rs. 68. The company reported a 48% YoY growth in Q2FY25 revenues, driven by a significant increase in wind turbine generator deliveries, despite facing challenges from adverse climate conditions. With a healthy balance sheet and recent order wins, Suzlon is positioned well for future growth, particularly following its acquisition of Renom Energy, which opens up additional O&M opportunities.
Suzlon Energy shares surged 5% to Rs 62.22, hitting the upper circuit limit, following Morgan Stanley"s upgrade to "overweight" from "equal-weight". Despite a 45% correction from its peak, the firm sees this as a buying opportunity, citing a strong order backlog of 5.1GW and an expected market share increase to 35-40% by FY27. Morgan Stanley forecasts India"s wind additions will generate 32GW of demand worth $31 billion for wind OEMs between FY25 and FY30.
A significant trend has emerged where stocks entering the Nifty 50 are considerably more expensive than those exiting. With 45 stocks approved for the F&O segment, Zomato and Jio Financial Services are likely to join the index by March, despite their high trailing P/E ratios of 307x and 118x, compared to Eicher Motors and BPCL"s 25.5x and 9.9x, respectively. Since FY18, inclusion stocks have had a P/E of around 60x, six times higher than the median P/E of exclusion stocks at approximately 10x.
HSBC has maintained a hold rating on Glenmark Pharma, reducing its target price to ₹1,600 from ₹1,660, citing a disappointing Q2 performance due to higher overheads, despite strong sales in India. Meanwhile, Morgan Stanley has upgraded Suzlon Energy, highlighting positive market sentiment. Glenmark"s future growth hinges on new launches and improved execution in the US market, with plans for significant R&D investment in the coming years.
Chinese companies dominate the global wind turbine market, securing 82 percent of orders in the first half of 2024, driven by substantial domestic installations. However, Suzlon Energy from India is emerging as a notable player, enhancing its presence in this competitive industry.
Suzlon Energy Limited
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Zomato to join Sensex replacing JSW Steel from December 23
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13:39 22.11.2024
uzlon energy reports strong growth and sets target price at rs 68
06:50 19.11.2024
Suzlon Energy shares surge after Morgan Stanley upgrade signals buying opportunity
05:14 19.11.2024
divergent trends in stock valuations for index inclusion and exclusion
04:47 19.11.2024
hsbc lowers glenmark pharma target while morgan stanley upgrades suzlon energy
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Suzlon Energy Limited
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Glenmark Pharmaceuticals Limited
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04:21 19.11.2024
suzlon energy rises in global wind turbine market amid chinese dominance
04:21 25.10.2024
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