BERNSTEIN ON INDIA
Explained: What NSE's Electronic Gold Receipts mean for yellow metal investors
NSE’s Electronic Gold Receipts (EGRs) offer investors a regulated and fully digital way to own and trade physical gold without storage or purity concerns. Backed by SEBI-regulated vaults, EGRs aim to make gold investing more transparent, accessible and standardised while integrating the yellow metal more closely with India’s capital markets.
Paytm shares climb 5% after Q4 results. Do Jefferies, Goldman Sachs and Bernstein see further upside?
Paytm's parent company, One 97 Communications, reported a profit of Rs 184 crore for the fourth quarter. This led to a significant rally in its shares. Revenue from operations also saw an increase. Analysts maintain positive ratings, citing strong revenue momentum and controlled expenses. The company's financial performance shows improvement compared to the previous year.
Godrej Consumer shares tumble 6% despite Q4 show. Should you buy, sell or hold the stock?
Godrej Consumer Products shares dropped nearly 6% on Thursday despite reporting a 9.7% YoY rise in Q4 net profit and double-digit revenue growth. Brokerages remained positive on the stock, citing strong domestic volume growth, improving Indonesia business trends, and margin guidance for FY27, while warning of near-term input cost pressures and demand risks.
Siguler Guff invests $40 million in Cinnabon operator Trimex Foods
US private equity firm Siguler Guff has invested $40 million in Trimex Foods, the Indian franchise partner for Chili's, Paul, and Cinnabon. This strategic investment aims to accelerate Trimex's pan-India expansion and onboard new global brands, reflecting strong conviction in India's growing organized food services sector.
Payments bank licence cancellation won’t impact Paytm’s business: Bernstein
Paytm has successfully separated its core operations from Paytm Payments Bank following the RBI's license cancellation. The company's payments and financial services businesses now operate independently, with no exposure or material business arrangements with the banking entity.
Paytm Payments Bank licence cancellation: Jefferies, Bernstein and Goldman decode impact
Paytm shares fell 8% after RBI cancelled Paytm Payments Bank’s licence but recovered sharply as brokerages stayed bullish. Analysts see limited financial impact, citing separation from PPBL and strong core business momentum. Jefferies, Goldman and Bernstein retained positive ratings, though risks to sentiment remain. Technical indicators suggest near-term volatility, with key support around Rs 1,050 and resistance near Rs 1,150.
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Paytm shares crash 8% as RBI cancels Paytm Payments Bank's banking license. What lies ahead?
Shares of One 97 Communications, the driving force behind Paytm, have taken a hit following the Reserve Bank of India's unexpected move to revoke the banking license of Paytm Payments Bank, leading to its impending closure. Nonetheless, the company remains committed to ensuring that its primary services are unaffected.
RBI action on Paytm Payments Bank incrementally negative for One 97, says Bernstein; retains ‘Outperform’, sees 30% upside
The RBI has cancelled Paytm Payments Bank's license due to regulatory non-compliance, citing detrimental operations and prejudiced management. While Bernstein views this as incrementally negative for parent One 97 Communications, they maintain an 'Outperform' rating, seeing potential for new licenses. Paytm assures stakeholders its core services remain unaffected.
Union Bank Q4 Results: Net profit rises 7% YoY to 5,316 crore, provisions jump 3x
Union Bank Q4 Results FY26: Union Bank reported a mixed Q4 with net profit up 6.6% YoY to Rs 5,316 crore, despite a 1.1% dip in net interest income. Provisions surged nearly threefold, but asset quality improved with lower NPAs. The bank recommended a Rs 5 per share dividend for FY26.
Trent's margins may stabilise as growth enters a cautious phase: Jignanshu Gor
Trent Ltd. is entering a more measured growth phase after sharp expansion, with Q4 performance showing improved margins due to operational efficiency and a better brand mix. While Zudio continues its rapid store additions, declining revenue per square foot signals a potential plateau in margin expansion.
From AI to subsidies: Bernstein’s candid open letter to PM Modi flags 8 critical fault lines
Global brokerage Bernstein has cautioned India against becoming a mere user of future technology. The firm suggests that continued reliance on subsidies and delayed reforms could lead to low productivity. Bernstein outlines eight critical themes, including AI, agriculture, energy, and manufacturing, as a roadmap for India's next decade.
HDFC Bank vs ICICI Bank vs YES Bank: Which one to buy after Q4 results?
HDFC Bank, ICICI Bank and Yes Bank delivered steady FY26 performances with healthy earnings growth and improved asset quality. While ICICI Bank and HDFC Bank attracted positive brokerage outlooks with strong fundamentals, analysts remain cautious on Yes Bank, citing valuation concerns and sustainability risks despite sharp profit growth in the latest quarter.
HDFC Bank shares fall over 1% after Q4. Jefferies, Bernstein, 3 other brokerage weigh in
HDFC Bank's shares dipped despite a 9% net profit rise to Rs 19,221 crore for the March quarter. While interest income saw a slight decline, return on assets improved. Analysts largely maintain buy or outperform ratings, citing strong deposit growth, resilient margins, and attractive valuations, though some caution on near-term growth acceleration.
ICICI Bank shares rise 2% after Q4 results. What Jefferies, Bernstein and other brokerages are saying
Brokerages remain bullish on ICICI Bank after a strong quarter, citing stable margins, healthy loan growth and improving asset quality. Motilal Oswal, Elara Capital and JM Financial maintained buy ratings, with target prices up to Rs 1,783. They expect steady returns, strong buffers and consistent execution to support premium valuations and earnings growth over FY27-28.
Tom Clancy's Jack Ryan Ghost War OTT release date: Streaming date and time of John Krasinski's movie in India, plot, cast and more
John Krasinski returns as Jack Ryan in Tom Clancy's Jack Ryan: Ghost War. The movie is all set to premiere in India. After leaving the CIA for a quiet life, Ryan is pulled back into a dangerous world to confront a rogue black-ops unit. The film continues the espionage saga with familiar allies and a new MI6 officer. Read on!
Paytm’s cap table turns Indian: What changes now?
Domestic investors now own 50.3% of the digital payment firm's equity, marking a transition to majority Indian ownership and control. This shift is driven by increased participation from domestic institutional investors (DIIs).
Housing finance stocks near inflection point, Bernstein picks 2 favourites
Affordable housing finance stocks are nearing a turning point. Bernstein highlights attractive valuations and improving growth and asset quality. HomeFirst and Aadhar Housing Finance are named as preferred investments. The sector is poised for a turnaround, offering significant upside potential for investors. This presents a favorable entry point for the segment.
Nifty target 26,000: Bernstein’s Venugopal Garre lists 6 sectors to buy amid Iran war ceasefire
Brokerage Bernstein set a year-end target of 26,000 for the Nifty 50, with strategist Venugopal Garre saying the United States–Iran ceasefire marks an “off-ramp” from recent hostilities. Falling crude risks support rebounds in financials, oil marketing companies, travel, chemicals, paints and construction.
Nifty gave zero return to FIIs in 4.5 years. Can India win back fleeing foreign investors?
Foreign investors have experienced no returns in Indian stocks for four and a half years. A combination of war, currency weakness, and oil price shocks has led to record outflows. Global brokerages are downgrading India's outlook. However, some see current low valuations as a potential turning point for foreign inflows.
Explained: Why global brokerages are hitting panic button on India. FII exodus, oil shock ringing alarm?
Equity market has shifted sharply from optimism to crisis mode, marked by a record $13 billion FII outflow in March—the worst ever. The sell-off has been driven by a surge in oil prices following Gulf tensions, with Brent crude jumping over 50%, worsening inflation, trade deficits, and corporate margins. Existing weaknesses like a weak rupee, sluggish earnings, high valuations, and global trade pressures have compounded the impact, turning investor sentiment from an “India premium” to an “India exit.”
Zero returns in 2 years: Should Nifty bulls build a cash fort like Warren Buffett?
Nifty50 has delivered zero returns over the past two years and is now at a critical juncture amid rising geopolitical tensions, a weakening rupee, and surging crude prices. While domestic investors continue to buy, foreign investors have pulled out a record $13 billion in March, signaling a shift to safer assets. Adding to concerns, Goldman Sachs has downgraded Indian equities to “marketweight” and cut its Nifty target.
$12 billion bloodbath! March marks India's worst-ever FII exodus as war fears trigger panic selling
Stock Market Crash: Foreign institutional investors have orchestrated a record exodus from Indian equities, withdrawing over $12 billion in March alone. This unprecedented selloff, driven by escalating Gulf war crude prices and a depreciating rupee, has triggered market downgrades and concerns about India's growth outlook.
Rupee hits record low past 94/USD on energy woes; set for worst fiscal in decade and a half
The Indian rupee plunged to a record low against the dollar, driven by escalating Middle East war concerns and a severe energy supply crisis. This marks the currency's steepest fiscal-year decline since the 2013-14 'taper tantrum', with analysts predicting further depreciation and potential rate hikes.
Jefferies' Chris Wood sells HDFC Bank after Chairman's puzzling exit, cuts India weightage
Jefferies’ Christopher Wood exits HDFC Bank from key portfolios following concerns triggered by chairman Atanu Chakraborty’s resignation. The move comes amid governance questions, regulatory scrutiny and a broader reduction in India exposure. Global brokerages have also turned cautious, citing macro risks and potential earnings downgrades in the market.
Goldman downgrades India, slashes Nifty target and warns of earnings cut. Here's why
Global brokerage Goldman Sachs has turned cautious on Indian equities, cutting its Nifty target and warning of an “energy-shock-led” earnings downgrade cycle. The firm expects higher-for-longer oil prices amid the US-Iran conflict to worsen India’s macro outlook, weaken returns and pressure corporate earnings over the next few quarters.
UBS downgrades Indian stocks to Neutral as Iran war raises energy supply risks
Global brokerage UBS has downgraded Indian equities to Neutral from Attractive due to escalating geopolitical risks in the Middle East and their impact on India's energy imports. Analysts highlight the nation's vulnerability to oil price spikes and supply disruptions, particularly through the Strait of Hormuz.
Nifty can fall below 19,000 in worst case GFC-like scenario, warns Bernstein; rupee could breach 110/USD
Global brokerage Bernstein warns the Iran conflict could trigger a "GFC moment" for India if prolonged, leading to elevated crude prices and tight financing. This scenario risks exposing macro vulnerabilities, potentially pushing the rupee past 110 per dollar and significantly impacting Nifty's valuation and India's growth trajectory.
Bank deposits yet to fully reflect repo rate cuts
Banks are struggling to attract deposits as policy rate cuts are slowly reflected in deposit rates. Savers are moving funds to other investments. This situation pressures bank profits. State-run banks are better positioned than private ones. Deposit growth has slowed significantly. Banks are competing for funds, keeping costs high.
Zomato’s fee hike to boost margins, demand still intact : Jignanshu Gor
Zomato has increased its platform fee, aiming for better profits. This move puts it ahead of rival Swiggy in charges. Analysts believe this will boost Zomato's earnings without hurting customer demand significantly. Competition in quick commerce is also intense, but players are focusing on expansion rather than just price wars. Demand for food delivery remains strong.
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