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* DALBHARA has been consistent in its capacity expansion over the past decade, with a 14% CAGR in grinding capacity since FY11. In the long run, the company expects a 14-17% CAGR in capacity and aims to increase its cement grinding capacity to 110-130mtpa by 2031. * In our recently concluded Annual Global Investor Conference, Managing Director Mr. Puneet Dalmia shared his views on the industry’s long-term potential and changing dynamics. He expects the consolidation to accelerate and...
Buy Dalmia Bharat Ltd For Target Rs.2,400 - Motilal Oswal Financial Services Ltd
A potential infrastructure agreement encompassing ports and railroads being discussed by the leaders of the US, India, Saudi Arabia and other nations supported the outperformance of all railway stocks on Friday, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio. After news broke on Friday that the Ministry of Power planned to launch a tender to buy 4,000 MW of gas-based energy for around 20 days between September and November, shares of power were up by 1-4 per cent. Niche sec...
Railway stocks gain on deal to connect Middle East via railways
Daily market commentary 08 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels. Despite mixed global cues, index bounced back to seven week high and is just 172 points away from its life highs. Broader market too ended in green with Midcap100/Smallcap100 up 1%/0.6%. Financials, Realty and energy stocks led the gains in the market. ...
Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Retail footprint expansion encourages growth * In FY23, TTAN posted a strong performance across all business segments, driven by investments in supply chain, digital data, omni-channel capabilities, retail networks, and select international markets. The company reported overall revenue/profit growth of 40.9%/40.2% YoY to INR405.8b/INR32.7b. Over FY18-23, TTAN clocked impressive sales/PAT CAGRs of 20.3%/23.9%. Here are the key takeaways from the company’s FY23 annual report: * Jewe...
Buy Titan Company Ltd For Target Rs.3,570 - Motilal Oswal Financial Services
Maintains 20% growth and 28-30% VNB margin guidance * SBILIFE reported a slightly muted performance in 1QFY24. APE grew 4% YoY (in line), while VNB was flat YoY as margins contracted 290bp QoQ to 28.7%, due to product mix shifting towards ULIPs. PAT grew 45% YoY to INR3.8b (27% beat). * In terms of NBP, annuity saw a healthy growth of 102% YoY, while Non-Par savings declined 28% YoY in 1QFY24. Protection/ULIP segment saw modest growth of 11%/10% YoY. * We slightly lower our VNB margi...
Buy SBI Life Insurance Ltd For Target Rs.1,570 - Motilal Oswal Financial Services
In FY23, TTAN posted a strong performance across all business segments, driven by investments in supply chain, digital data, omni-channel capabilities, retail networks, and select international markets. The company reported overall revenue/profit growth of 40.9%/40.2% YoY to INR405.8b/INR32.7b. Over FY18-23, TTAN clocked impressive sales/PAT CAGRs of 20.3%/23.9%. Here are the key takeaways from the company’s FY23 annual report: * Jewelry: TTAN holds a ~7% market share in the Indian j...
Buy Titan Company Ltd For Target Rs. 3,085 - JM Financial Services
Daily market commentary 07 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Nifty closed higher for the fifth straight day with gains of 116 points (+0.6%) at 19727 levels. Despite weak global cues, market recovered in the second half on account of short covering on the weekly expiry day. Broader market too ended in green with Midcap100/Smallcap100 up 0.8%/0.5%. Banking and Realty were the major drivers with gains of more...
Daily Market Commentary : Nifty closed higher for the fifth straight day with gains of 116 points (+0.6%) at 19727 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Bajaj Finance (BAF)’s FY23 Annual Report provides insights into the company’s business construct and the different elements of its Long Range Strategy, including its ambition, approach, philosophy, market share, and profit share. The company plans to execute this strategy by increasing business agility, establishing a more efficient cost structure, and expanding its share of wallet within its customer base. * During the challenging period of COVID-19, BAF seized the opportunity...
Buy Bajaj Finance Ltd For Target Rs. 8,800 - Motilal Oswal Financial Services
According to Motilal Oswal Financial Services Report, after experiencing significant gains in the first four months of 2023, silver encountered some volatility at higher price levels. After every major dip domestic silver price have been seeing a range shift on the higher side and MOFSL expects this trend to continue. MOFSL expects that the momentum in Silver is likely to continue, and could add another 15% over the next few quarters. MOFSL advises continuous accumulation at lowe...
Silver likely to touch Rs 85,000 in next 12 months By Motilal Oswal Financial Services
Daily market commentary 06 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities continued its momentum for the fourth consecutive day led by optimistic domestic cues. Though Nifty traded in red for most part of the session, on the back of rise in crude oil prices to 10-month high and weak global data points; last-hour rally led to index finally closing in green with marginal gains of 36 points (+0.2%) at 196...
Daily Market Commentary :Domestic equities continued its momentum for the fourth consecutive day led by optimistic domestic cues Says Mr. Siddhartha Khemka, Motilal Oswal
Expect RAC segment’s market share at 21-22% in FY24/25 * Leadership to sustain in RAC: Voltas (VOLT) is a market leader in the room air conditioners (RAC) segment. Its share had gradually risen to 25.2% in FY21 (from 20.8% in FY15) before declining to 23.4%/21.6% in FY22/FY23. We estimate VOLT to lead the RAC segment with a market share of 21-22% in FY24/25. * Voltbek’s losses continue but strong revenue traction visible: Voltbek (Voltas Beko) posted volume growth of 45%/15-...
Buy Voltas Ltd For Target Rs. 1000 - Motilal Oswal Financial Services
Daily market commentary 05 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities closed positively for the third consecutive day led by optimistic domestic cues. Services PMI data came in strong at 60.1 for the month of August, boosting sentiments. Despite weak global markets, Nifty opened positive and traded in a narrow range to finally close with gains of 46 points (+0.2%) at 19,575 levels. Broader market o...
Daily Market Commentary : Domestic equities closed positively for the third consecutive day led by optimistic domestic cues Says Mr. Siddhartha Khemka, Motilal Oswal
China policy measures, domestic price hikes improve sentiment * Chinese authorities have taken steps in the last few weeks to support the country’s property and real estate sector. The measures include a reduction in mortgage rates for existing customers and lower down-payment requirements for new and secondtime home buyers. * Under the new stimulus measures, existing borrowers can renegotiate interest rates on mortgages for their first homes; the down-payment requirements for fir...
Metals & Mining Sector Update : China policy measures, domestic price hikes improve sentiment By Motilal Oswal Financial Services
Rejuvenating the Brand Rebranding a legacy with financial discipline! | Initiate coverage with a BUY Raymond is an established apparel brand in India that resonates with consumers seeking premium apparel wear. However, despite its rich heritage, the brand’s market penetration has remained significantly underexplored. Over the last two to three years, the company has revitalized its standing through strategic initiatives such as: a) strengthening the senior leadership team across vari...
Buy Raymond Ltd For Target Rs.2600 - Motilal Oswal Financial Services
The steel demand in India is expected to pick up from September’23 onwards as construction activities pick up pace post the monsoon season with new projects coming on stream, Motilal Oswal Financial Services said in a report. China’s stimulus measures are also expected to boost prices for ferrous metals in the international market and we expect the steel prices in the export market to improve in the coming weeks. Indian domestic consumption story continues to remain robust w...
China`s stimulus measures expected to boost prices for ferrous metals in international market
Daily market commentary 04 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities closed positively for the second consecutive day led by positive global and domestic cues. Announcement of fresh stimulus announcement by China for its property sector and rising expectation of rate pause by US Fed in upcoming meeting led to buying in Metals and IT stocks. In addition report of strong macro data points last week ...
Daily Market Commentary : Domestic equities closed positively for the second consecutive day led by positive global and domestic cues Says Mr. Siddhartha Khemka, Motilal Oswal
Optimistic outlook continues with healthy 1Q performance The hotel industry witnessed healthy performance in 1QFY24, mainly led by a continued rise in average room rate (ARR). In this report, we present the current demand scenario and key insights based on 1QFY24 results and the management commentaries of major hospitality players – Indian Hotels (IH), Lemon Tree Hotels (LEMONTRE), Chalet Hotels (CHALET), EIH, Oberoi Realty (OBER), Brigade Enterprises (BRGD), and ITC. * As per HVS...
Hotel Sector Update : Optimistic outlook continues with healthy 1Q performance By Motilal Oswal Financial Services
Mr. Uday Kotak resigns from position of MD & CEO Leadership transition begins at Kotak Bank * Mr. Uday Kotak has resigned from MD & CEO position of the bank, effective 1st Sep’23, four months ahead of schedule. He will continue to serve as a non-executive director of the bank. * Mr. Kotak, a founding member of the bank, has been part of the institution for the past 38 years. His contribution was thus pivotal in guiding the bank through its transition from being an NBFC...
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services
Laying the foundation for sustainable growth FY23 consol RoE improves to 18.8% * Axis Bank’s (AXSB) annual report highlights the bank’s focus on strengthening its retail franchise and investing in its distribution network and technological capabilities. The bank has laid special emphasis on increasing the mix of retail deposits. In FY23, it reported 21% growth in CASA deposits, surpassing its peers. This facilitated a 100bp improvement in the daily average CASA mix, reachin...
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Shoppers Stop witnesses a change in leadership Management expects existing growth strategy to continue * Shoppers Stop (SHOP) announced the resignation of its MD and CEO Mr. Venugopal G. Nair after a ~three-year stint at the company. Mr. Kavindra Mishra, formerly Chief Commercial Officer and CEO of the Homestop division, will succeed him and assume the role of CEO and Executive Director. * The management indicated that there will be no change in the ongoing strategy, with continued e...
Neutral Shoppers Stop Ltd For Target Rs. 750 - Motilal Oswal
FY23 AGM: 5G, AI, FMCG, GREEN ENERGY in focus We attended the 46th AGM of RIL on 28th Aug’23, and following are the key highlights from the event: * The AGM highlighted the company’s ambitious plans across business verticals, particularly the upcoming nationwide rollout of 5G technology in India, a transformative AI revolution, expansion within the FMCG sector, and investments in the field of green energy. * Jio: Expects nationwide 5G coverage in India by Dec’23; la...
Buy Reliance Industries Ltd For Target Rs. 2,920 - Motilal Oswal Financial Services Ltd
NHAI project awarding subdued after robust 4QFY23 * As of Aug’23, project awarding by NHAI stood at 170km and construction stood at 1,215km. Project awarding activity picked up pace in 4QFY23, with NHAI awarding total projects of 6,003km in FY23. NHAI’s highway construction pace increased ~13% YoY to 4,882km in FY23. * Toll collections have been improving, with FASTag-based toll collections of INR208b during Apr-Jul’23 with a daily run rate of ~INR1.7b. In Jul’23...
Infrastructure Sector Update : NHAI project awarding subdued after robust 4QFY23 By Motilal Oswal Financial Services
Laying the foundation for sustainable growth FY23 consol RoE improves to 18.8% * Axis Bank’s (AXSB) annual report highlights the bank’s focus on strengthening its retail franchise and investing in its distribution network and technological capabilities. The bank has laid special emphasis on increasing the mix of retail deposits. In FY23, it reported 21% growth in CASA deposits, surpassing its peers. This facilitated a 100bp improvement in the daily average CASA mix, reachin...
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Building a ‘healthier’ future! Stepping into the spotlight | All growth levers at play * Star Health (STARHEAL) is expected to clock 20% retail health premium CAGR over FY23-25 led by: 1) increasing sum assured per policy, 2) price hike in its flagship product, and 3) deeper penetration that is driving growth in the number of policies. * Management is intensely focusing on growing the business through the banca channel, with the help of the benefit-based products that hav...
Buy Star Health and Allied Insurance Ltd For Target Rs.730 - Motilal Oswal Financial Services
New product launches to drive the next leg of growth * Vinati Organics (VO)’s FY23 Annual Report highlights its long-term relationships with clients as well as its focus on R&D expertise. These have helped the company amplify the value for all its stakeholders, despite cyclicality and macro headwinds. * VO is facing demand challenges in its key product, ATBS, due to inventory build-up by customers because of high offtake during 2HFY23. However, management expects the launch of...
Buy Vinati Organics Ltd For Target Rs.2150 - Motilal Oswal Financial Services
Impressive track record, robust outlook to sustain re-rating Demand tailwinds to drive better valuation for industry as well * MAXHEALTH is currently trading at 24x FY25E EV/EBITDA, representing a premium to its historical average of 22x. Moreover, it is also trading at a premium to its hospital peers (21x FY25E EV/EBITDA). * However, we expect MAXHEALTH to continue trading at a premium on relative basis, backed by: a) significant land bank availability in high-demand areas of Delhi...
Buy Max Healthcare For Target Rs.660 - Motilal Oswal Financial Services
Daily market commentary 01 September 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities cheered impressive growth in India's Q1 GDP and core sector output. Nifty opened positive and strengthened during the day to close near the day’s high with gains of 182 points (+0.9%) at 19435 levels. Broader market too ended in green up almost 1%. All sectors participated in the rally, except for Pharma. Metals, Oil &a...
Daily Market Commentary : Domestic equities cheered impressive growth in India`s Q1 GDP and core sector output Says Mr. Siddhartha Khemka, Motilal Oswal
ZEE-Sony – A strong force in the making Emerging strong player in the broadcasting space The proposed merger between Zee Entertainment Enterprises India (ZEE) and Sony Pictures Networks India (SONY), which was recently approved by the NCLT, is expected to create a dominant player in the media industry. A war chest of USD1.6b (capital infusion) and steady annual EBITDA generation capability of ~INR40-50b from the linear business should enable the company to compete within the high-...
Buy Zee Entertainment Enterprises Ltd For Target Rs.320 - Motilal Oswal Financial Services Ltd
Earnest attempt at a credible transformation! * MMFS has exhibited volatile operating performance and weak asset quality in the past. However, the management has undertaken various strategic initiatives, which we believe, if executed properly, could script a credible transformation of the company. * MMFS has translated the KPIs introduced under Mission 2025 into strategic priorities, such as expanding its presence, leveraging technology to drive operational efficiency, developing new pr...
Buy M&M Financial Services Ltd For Target Rs. 350 - Motilal Oswal Financial Services Ltd
Impressive track record, robust outlook to sustain re-rating Demand tailwinds to drive better valuation for industry as well * MAXHEALTH is currently trading at 24x FY25E EV/EBITDA, representing a premium to its historical average of 22x. Moreover, it is also trading at a premium to its hospital peers (21x FY25E EV/EBITDA). * However, we expect MAXHEALTH to continue trading at a premium on relative basis, backed by: a) significant land bank availability in high-demand areas of Delhi ...
Buy Max Healthcare For Target Rs.660 - Motilal Oswal Financial Services
Below the daily gold commentary by Mr. Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services. Gold rallied to its three-week highs as the dollar and Treasury yields slipped amidst weak economic data points. The dollar fell against its major crosses, reversing from earlier gains, after data showed that U.S. job openings fell in July; benchmark 10-year Treasury yields also ticked lower from 10 month highs. The downbeat Job Openings and Labor ...
Gold Commentary: Gold rallied to its three-week highs as the dollar and Treasury yields slipped amidst weak economic data points By Mr. Navneet Damani, Motilal Oswal Financial Services.
Domestic equities started on a strong note on the back of positive global cues. However, they witnessed profit booking in the last hour, leading to Nifty giving up all its gains and closing flat at 19,347 points, up 0.02 per cent or 4.80 points, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. The BSE Sensex ended 0.02 per cent or 11.43 points higher at 65,087.25 points. The broader market outperformed and continued its northbound journey...
Nifty gives up all its gains to close flat
Gold rallied to its three-week high as the US dollar and Treasury yields slipped amidst weak economic data points, says Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services. Today focus will be on US GDP and Private payroll data, which if reported lower than expectations could further support gains for gold and silver prices, he said. Broader trend on COMEX could be in the range of $1,915-1,950 and on domestic front prices could hover in the range of Rs 59...
Gold at 3-week high as dollar slips
Building a retail-led NBFC with an emphasis on risk management Targets doubling of lending AUM and steady-state core RoA of 3.0-3.3% by FY28 We attended the Investor Day hosted by Piramal Enterprises (PIEL). The company was represented by the senior management team at PIEL including Mr. Ajay Piramal, Chairman and Mr. Anand Piramal, Non-Executive Director, Piramal Group. Key takeaways from the session are as follows: * PIEL’s vision is to become a leading NBFC, which will not only ...
Buy Piramal Enterprises Ltd For Target Rs.1280 - Motilal Oswal Financial Services
Robust expansion plan; focus remains on improving margins * DALBHARA has been consistent in its capacity expansion over the past decade, with a 14% CAGR in grinding capacity since FY11. In the long run, the company expects a 14-17% CAGR in capacity and aims to increase its cement grinding capacity to 110-130mtpa by 2031. * In our recently concluded Annual Global Investor Conference, Managing Director Mr. Puneet Dalmia shared his views on the industry’s long-term potential and chan...
Buy Dalmia Bharat Ltd For Target Rs.2,400 - Motilal Oswal Financial Services Ltd
Playing for the long innings – Earnings growth to accelerate from FY25; Upgrade to BUY * AUBANK delivered an impressive 54%/34% CAGR in deposits/loans over FY18-23. It has evolved as a strong franchise not just in the SFB segment but in the overall mid-cap banking space. * Scale-up of new products, widening geographical reach, aggressive investments in technology and thrust on physical expansion should support long-term growth. We estimate the bank to maintain industry-leading loa...
Buy AU Small Finance Bank For Target Rs .825 - Motilal Oswal Financial Services
Heavyweight stocks were muted compared to the sector-wise and mid and smallcap upsides on Tuesday, said Vinod Nair, Head of Research at Geojit Financial Services. The chemical sector emerged as a clear winner due to improvements in product prices stemming from stability in the demand and supply scenario. Meanwhile, the metals sector rallied in anticipation of further green shoots from the Chinese government and central banks, aimed at improving the local economy. The benefits from fe...
Chemical stocks see buying after a long time
Growth to recover in FY25 | Valuation remains full Driving incremental efforts to stimulate growth engines We hosted Mr. Nitin Rakesh (MD & CEO – Mphasis) at our flagship conference, AGIC – 2023. Through his presentation, he touched upon the implications of Generative AI (subset of LLM) on business operations and the cannibalization impact it may pose to the technology service lines. Moreover, we also attended Mphasis (MPHL)’s Analyst Meet recently. The key takeaways ...
Neutral Mphasis Ltd For Target Rs. 2,250 - Motilal Oswal Financial Services
Daily market commentary 28 August 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities traded in positive territory amid gains in global markets after China announced a 0.1% duty cut on stock trades to aid its ailing stock market with a likeliness of more stimulus in future. Nifty closed with gains of 40 points at 19306 levels. Broader market outperformed with the Nifty midcap 100 up 0.5% while the Nifty smallcap 100 ...
Daily Market Commentary : Nifty closed with gains of 40 points at 19306 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Steady operational quarter; P&L hit by lower residential recognition Sales bookings nearly flat excluding sales of landowners’ share * Brigade Enterprises (BEL) reported a steady quarter of bookings with presales of INR10b, up 22% YoY and 13% above our estimate. However, presales declined 33% QoQ due to absence of any new launches in 1QFY24. * Pre-sales in 1QFY24 included sales of landowners’ area at INR1.4b. Excluding this, pre-sales were in line and nearly flat YoY....
Buy Brigade Enterprises Ltd. For Target Rs. 720 - Motilal Oswal Financial Services Ltd
Heavy investments continue * Zee Entertainment (Zee)’s consolidated EBITDA declined 34% YoY (a beat) as its revenue growth (of 8% YoY) was offset by higher content and Zee5 spends. Ad revenue dropped 4% YoY due to weak market and the impact of IPL, offset by 18% YoY subscription revenue growth on the back of NTO 3.0 and digital subscription growth in 1QFY24. * We largely retain our revenue/EBITDA estimates for FY24/FY25 building in recovery in the ad market and continued investmen...
Buy Zee Entertainment Enterprises Ltd For Target Rs.280 - Motilal Oswal Financial Services Ltd
Staples like cereals and pulses are unlikely to offer relief in the near term amid hardening international prices and subdued sowing domestically. This raises the likelihood of inflation remaining above 7 per cent in August, said a research report by broking firm, Prabhudas Lilladher. In July, India witnessed a surge in CPI inflation, reaching a 15-month peak at 7.44 per cent, a significant jump from June's 4.81 per cent. This reveals two primary insights for July's inflation na...
Not just tomatoes: Wider range of food items drive 7%-plus inflation
US/EU markets drive profitability Re-exploring restructuring of Eugia business * Aurobindo Pharma (ARBP) delivered operationally better-than-expected 1QFY24 performance, on the back of a healthy volume off-take in the US as well as the EU market. With improved outlook, ARBP has re-started the exercise to restructure the Eugia business and evaluate options to unlock the inherent value of its injectable business. * We raise our earnings estimate by 8%/7% for FY24/FY25, factoring a) su...
Neutral Aurobindo Pharma Ltd For Target Rs.910 - Motilal Oswal Financial Services
Margin recovers; sales yet to pick up Work-in-progress for greenfield project at Kakinada * The operational performance of Divi’s Laboratories (DIVI) missed our estimates marginally in 1QFY24, due to lower sales in generics and custom synthesis. However, EBITDA margin expanded sequentially owing to lower raw material/logistics costs. * We reduce our earnings estimates for FY24/FY25 by 3%/5% to account for a gradual off-take in custom synthesis/nutraceutical sales in the near te...
Neutral Divi`s Laboratories Ltd For Target Rs. 3,430 - Motilal Oswal Financial Services
Cigarettes volume growth continues * ITC reported healthy cigarette volume growth of ~8% in 1QFY24 vs. our estimate of 5%. The 3-year/4-year average volume CAGRs stood at 21.7%/7.0%, indicating strong demand momentum. With no material increase in Cigarette GST/National Calamities Duty, the volume growth outlook remains healthy. * Unlike its staple peers, ITC has consistently posted impressive performance in the Other FMCG business (16% revenue growth and margin improvement despite eleva...
Buy ITC Ltd For Target Rs.535 - Motilal Oswal Financial Services Ltd
Daily market commentary 25 August 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Domestic equities traded lower amid subdued global cues and inflationary concerns raised by RBI in its meeting minutes. Nifty opened gap down and remained in negative territory throughout the session to close with the loss of 121 points (-0.6%) at 19,265. The broader market saw some profit booking as Nifty Midcap 100 fell 0.8% after touching new high...
Daily Market Commentary : We continue to expect Nifty to be in a narrow range due to lack of positive triggers Says Mr. Siddhartha Khemka, Motilal Oswal
Gold prices steadied near two-week highs and was headed for their best week in six ahead of mixed economic data from the US and as market participants await comments from Governors of major central banks. including Federal Reserve Governor Powell, that could guide on future interest rates, says Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services. The US 10 year Yield after dropping by more than 2 per cent in the earlier session is inching higher once again, Do...
Gold prices near two-week highs
Below the daily gold commentary by Mr. Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services. ‘Gold prices steadied near two-week highs and was headed for their best week in six ahead of mixed economic data from the US and as market participants await comments from Governors of major central banks including Fed Governor Powell that could guide on future interest rates. US 10Y Yield after dropping by more than 2% in the earlier session...
Gold Commentary : Gold prices steadied near two-week highs and was headed for their best week Say`s Mr. Navneet Damani, Motilal Oswal Financial Services.
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