Indian shares open marginally lower on profit booking at record high levels
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 29 2024
0mins
Source: Reuters
Market Performance: Indian shares opened slightly lower as profit booking occurred near record highs, with the NSE Nifty 50 and S&P BSE Sensex both down 0.1%. The IT sector saw a decline after recent gains, while Asian markets also opened lower due to technology stock pressures.
Key Developments: Paytm's stock rose 2.5% following government approval for investment in its payments arm, while Reliance Industries remained flat ahead of its AGM. Additionally, KEC International and Sonata Software each gained about 5% due to new order wins.
Analyst Views on DIS
Wall Street analysts forecast DIS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DIS is 137.29 USD with a low forecast of 123.00 USD and a high forecast of 152.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 113.210
Low
123.00
Averages
137.29
High
152.00
Current: 113.210
Low
123.00
Averages
137.29
High
152.00
About DIS
The Walt Disney Company is a diversified worldwide entertainment company. The Company's segments include Entertainment, Sports and Experiences. The Entertainment segment generally encompasses its non-sports focused global film and episodic content production and distribution activities. The lines of business within the Entertainment segment along with their business activities include Linear Networks, Direct-to-Consumer, and Content Sales/Licensing. The Sports segment encompasses its sports-focused global television and direct-to-consumer (DTC) video streaming content production and distribution activities. The lines of business within the Sports segment include ESPN and Star. The Experiences segment includes Parks and Experiences and Consumer Products. Parks and Experiences consists of Walt Disney World Resort in Florida, Disneyland Resort in California, Disney Cruise Line, and others. Consumer Products includes licensing of its trade names, characters, visual, literary and other IP.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
