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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Tech, auto help Indian shares eke out gains; Zee soars

09/22/2021 | 01:33am EDT

BENGALURU, Sept 22 (Reuters) - Indian shares inched higher on Wednesday, helped by tech and auto stocks, while media firm Zee Entertainment soared after receiving board approval for its merger with Sony Pictures Networks India.

The blue-chip NSE Nifty 50 index was up 0.14% at 17,586.15 by 0455 GMT and the benchmark S&P BSE Sensex rose 0.18% to 59,109.28.

Investors are now awaiting policy cues from the U.S. Federal Reserve's two-day meeting ending later in the day, including when it would start tapering its bond buying and raising interest rates.

Zee Entertainment Enterprises Ltd surged 25%, helping the media sub-index scale its highest in more than 15 months and making the sector top performer of the day.

Tech stocks rose 1.2% and were headed for a second straight session of gains, with Mindtree Ltd advancing nearly 4%.

Strong demand, robust outlook and resilience to possible monetary policy changes make tech stocks an attractive pick, said KK Mittal, an investment advisor with Venus India.

Auto stocks climbed 1%, while real estate stocks rose 1.5%.

The two sectors are in focus ahead of the festival season, said Mittal, as asset purchases are likely to rise during the period.

Private banks were down with Housing Development Finance Corp shedding more than 1% to be among the biggest losers on the Nifty 50.

Stock markets in broader Asia rose after debt-laden China Evergrande said it would pay some bond interest due on Thursday, allaying fears of an imminent and messy collapse. (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -3.91% 2.95 End-of-day quote.-80.20%
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.59% 2808.65 End-of-day quote.9.77%
MINDTREE LIMITED 7.50% 4691.2 Delayed Quote.182.54%
ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.90% 319.85 Delayed Quote.43.11%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
Financials
Sales 2021 547 B 70 381 M 70 381 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 466 M 45 466 M
P/E ratio 2021 16,1x
Yield 2021 1,29%
Capitalization 38 943 M 5 007 M 5 008 M
EV / Sales 2021 0,72x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,95 HKD
Average target price 11,13 HKD
Spread / Average Target 277%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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