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The shares of Indian Hotels Company have been performing very well amid a weak market. The stock is currently trading at its all-time high level when the other stocks are on a downward journey.The stock has been making higher highs and higher lows on the daily chart and is also placed well above all its significant short, medium and long term exponential moving averages.However, with an RSI at 71 levels, one may be cautious about the stock being in an overbought territory.Indian Hotels stock has broken out of a Symmetrical Triangle pattern during the penultimate week.“Last week it consolidated in the range and thereafter is resuming its upmove. The consolidation was six weeks long and hence a solid base is in place for the next leg of upmove,” said Jatin Gedia, Technical Research Analyst at Sharekhan.Additionally, the momentum indicator has a positive crossover which typically indicates a buy signal.“On the upside, we expect the stock to target levels of Rs 815 – 882 which are Fibonacci extension levels. One should keep a stop loss of Rs 746 for the long positions,” Gedia suggested.The company also posted a strong management commentary, unveiling 'Accelerate 2030,' focusing on expanding its brandscape, scaling new businesses like Ginger & Qmin, and strengthening its legacy of service excellence while driving industry-leading margins and returns.Also read: Adani Group stocks extend losses, drop up to 11% after Kenya cancels deals following US charges“Indian Hotels has been consistently outperforming in the current market environment, with indicators showing no signs of an uptrend exhaustion,” said Vaishali Parekh, VP-Technical Research at PL Capital - Prabhudas Lilladher while emphasizing her conviction on the stock.“We maintain a positive outlook, projecting the next target range at Rs 800-820, with now an elevated support at Rs 740,” she added.The shares of Indian Hotels were trading flat at Rs 788.10 on the BSE around 11 am today.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Shares of LTIMindtree (LTIM) jumped 1% to their day’s high of Rs 5,988.80 on the BSE as the Life Corporation of India (LIC) announced that it has increased its stake from 5.033% to 7.034% in the company.“Pursuant to Regulation 30 of the Listing Regulations, this is to inform that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of LTIMindtree Ltd. (“Company”) from 1,49,06,665 to 2,08,34,009 i.e., 5.033% to 7.034% of the paid-up capital of the said Company,” said LIC in an exchange filing.There has been a net increase of 2.001% in holding during the period from March 20, 2024, to November 19, 2024, and the transaction has been an open market purchase.For the second quarter that ended September 2024, IT services company LTIMindtree reported 8% year-on-year growth in its consolidated net profit at Rs 1,251 crore while the revenue from operations in the reporting period rose 6% year-on-year to Rs 9,433 crore.Also read: PFC to trade ex-dividend from Monday. Last day to buy shares for eligibilityThe company's board had also approved an interim dividend of Rs 20 per share and fixed October 25 as the record date for the same. The said dividend will be paid within 30 days of the announcement.LTIM offers an extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to clients in diverse industries.The shares of LTIMindtree closed 0.9% higher at Rs 5,929.15 on the BSE on Thursday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Mumbai: Goldman Sachs has set a three-month target of 24,000 on the Nifty and 27,000 for the next 12 months. The brokerage firm said it is 'tactically neutral' on Indian equities within its Asia and emerging market allocations in 2025."We expect the market to remain range-bound over the next three months and for a back-loaded recovery as growth picks up," said Goldman in a client note. "While the structural positive case for India over the medium-term remains intact, we remain tactically neutral on India given slowing growth, high starting valuations and a less supportive domestic and external environment in the near-term."Goldman's 12-month target of 27,000 on the Nifty implies an upside of 15.6% over Thursday's closing price of 23,349.90. The index fell 168.60 points or 0.7%. Goldman said the risk of derating in Indian equities remains even after the recent drop as valuations are still high. The estimated price to earnings ratio for MSCI India is at 23 times, above its 10-year mean and above its 'fair value' estimate of 21 times.Oversold StocksGoldman listed 16 stocks with buy ratings that have corrected over 20% from their three-month highs and are trading at "reasonable" valuations compared to the past. These are InterGlobe Aviation, Trent Limited, Cholamandalam Investment, Shriram Finance, Havells India, IndusInd Bank, Aurobindo Pharma, AU Small Finance Bank, L&T Finance, Star Health & Allied Insurance, Phoenix Mills, Crompton Greaves Consumer, Kajaria Ceramics, CreditAccess Grameen, Emami, and CE Info Systems (MapmyIndia).

Mumbai: State Bank of India, Bank of Baroda, Punjab National Bank, and Canara Bank - state-run lenders with exposure to the Adani Group - fell by up to 5% Thursday. Experts suggest that the US indictment of Gautam Adani and others could have both immediate and long-term implications for PSU banks with significant exposure to the group.Indian lenders account for more than ₹88,000 crore of the Adani Group's total debt of ₹2.41 lakh crore as of March 31, 2024, according to a group presentation. Following the Hindenburg report in January 2023, several Indian banks and financial institutions had disclosed their exposure to the Adani Group.State Bank of India, the country's largest bank, had disclosed a total exposure of around ₹27,000 crore to the group at the time, while Axis Bank had disclosed ₹9,220 crore of exposure, including its non-funded exposure. Life Insurance Corporation (LIC) had the highest exposure of ₹35,920 crore to the group, but most of it in equity which was worth ₹30,130 crore that time with only ₹5,790 crore in debt.Other large public sector banks like Bank of Baroda and Punjab National Bank had declared exposures of ₹5,400 crore and ₹7,000 crore, respectively. REC Ltd also had declared an exposure of ₹7,000 crore. Private sector IndusInd Bank had declared ₹4,150 crore exposure to the group. 115545057Rating agency Moody's said the indictment of Adani chairman and other officials is credit negative for the group's companies. "Our main focus when assessing Adani Group is on the ability of the group's companies to access capital to meet their liquidity requirements and on its governance practices," the ratings agency said.Domestic banks and non-banking financial companies (NBFCs) accounted for 36% of the Adani Group's total debt mix, having raised their exposure to the group by around 500 basis points through 2023-24, ET had reported in August. Domestic private and state-owned banks and NBFCs had an outstanding of ₹70,213 crore to the group as on March 2023. This was about 31% of the group's gross debt of ₹2.27 lakh crore then."In the short term, this development could lead to a reassessment of risk perceptions for these banks, potentially causing volatility in their stock prices," said Nilesh Tribhuvann, managing partner at White & Brief - Advocates & Solicitors. "Investors may worry about the group's ability to meet financial obligations, especially if sanctions or asset freezes are imposed."The Nifty PSU Bank Index fell 2.7% on Thursday. Shares of Punjab National Bank dropped 4.5% to Rs 96.37, while Bank of Baroda closed 3.7% lower at `228.50. Canara Bank, Bank of India, and State Bank of India shares fell about 3%, closing at `94.46, `101.52, and `780.75, respectively. “Over the long term, this may also trigger regulatory scrutiny into how public sector banks (PSBs) assess and manage their exposure to large conglomerates operating in sensitive international markets,” added Tribhuvann of White & Brief Advocates & Solicitors.