International brokerage Morgan Stanley has downgraded its rating for Prestige Estates to 'underweight' from the earlier 'overweight' call on the back of the company's slower pre-sales growth. Alongside that, the brokerage also slashed its price target for the stock by 15 percent to Rs 1,510, which implies a potential downside of 11.5 percent from Tuesday's closing level.The ratings downgrade trigg...

A popular theory in the market is that the main reason for banks’ inability to garner low-cost deposits fast enough to match loan growth is that more savers are diverting their money to the stock market. This has led to mutual fund managers blaming the banking lobby for some of the rule changes in recent times. But the theory of the stock market hurting banking deposit growth may be flawed, argu...

Stocks in NewsHere's a quick look at the stocks that will be in focus in trade on Tuesday, covering significant fund-raising activities, major deals, and key appointments announced by companies after market hours on Monday:Stocks To WatchPrestige Estates ProjectsThe Bengaluru-based real estate developer has selected four investment banks (Kotak Mahindra Capital, JP Morgan, JM Financial, and CLSA) ...

Here's a quick look at the stocks that will be in focus on June 24, highlighting significant investments and major deals announced after trading hours on Friday:Prestige Estate Projects:The company's board has approved raising funds by issuing equity shares for an aggregate amount not exceeding Rs 5,000 crore.Hilton Metal Forgings:The company launched wagon axles for railway wagons.Alembic Pharma:...

There were many positives in the December quarter earnings of Bengaluru-based Prestige Estates Projects Ltd. Among the key highlights were highest ever quarterly sales of Rs4,270 crore and record-high collections of Rs2,430 crore. This robust performance is attributed to good response to the company's newly launched projects in Bengaluru and Hyderabad and decent sales momentum in its ongoing proje...