TVS Motor gains 2% after Deutsche Bank upgrades, but cuts price target.

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TVS Motor Company shares gained 2 percent in morning on Wednesday after global brokerage firm Deutsche Bank upgraded its rating on stock to hold, but slashed price target to Rs 455 from Rs 465 apiece.

The stock was quoting at Rs 464.30, up Rs 8.45, or 1.85 percent on the BSE, at 09:35 hours IST.

The reason behind cut in price target was that the brokerage made changes to FY19-21 EBITDA & EBIT forecasts by -1 to +3 percent and cut EPS estimates by 3-8 percent.

Deutsche upgraded the stock because it feels the company has been approaching a sweet spot in various categories and may see a sustained increase in margin.

Stronger market share is the key to margin expansion, it said.

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Flipkart, group companies increase television advertisements

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Flipkart and its group companies — Myntra and PhonePe — have significantly increased their television advertisements since August when they got acquired by US retail giant Walmart. It is important to note that during this period Flipkart and Myntra were also promoting their sale events.

Last time Flipkart launched a branding campaign it was with a tagline ‘Ab Har Wish  Hogi Poori’ when it spent huge marketing dollars to create brand awareness. Since then, they have focused on trimming marketing and branding expenses to maintain a lean P&L statement and have been spending less than Amazon.

The battle of eCommerce is a battle not about balance sheet but about market share and post-acquisition when they are flush with funds; they have the right to protect market share,” said Saurabh Varma, CEO, Public is Communications India.

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Aadhaar verification to resume through QR code authentication

Aadhaar Card UpdatesAadhaar-based authentication of customers is set to resume — albeit in offline mode — after the attorney general opined that this will stand legal scrutiny, according to a top government official.

This will come as an immediate relief for the telecom and banking sectors even as government moves legal changes for voluntary use of Aadhaar by these sectors. “Offline authentication will stand scrutiny,” said Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey .

Authentication by Aadhaar through QR codes and other means will likely be available in a few weeks, allowing banks and telecom companies to resume customer acquisition that had stalled following the Supreme Court ruling in the Aadhaar case in September. The court had disallowed online customer authentication by private entities using the biometric database.

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