Crompton shares zoom 16% to a new 52-week high Here s why? indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The strong operational performance was driven by favorable metal benefit from recycling, higher pricing, and lower operating costs compared to last year. However, revenue dropped by 6% YoY due to lower aluminium prices and flat volumes.
Passive foreign capital flows have been a driving force for strong foreign exchange inflows into Indian equity, though a bulk of these seem passive in nature, according to Kotak Institutional Equities. Passive ETF inflows from foreign households suggest expectations of certain returns, which may or may not materialise, says the report, and inflows from mutual funds likewise may reflect anticipations of equity returns related to other assets. Kotak argues the inflows cannot be inferred as a consequence of changing fundamentals. The strong passive inflows also appear to be top-down in nature.
The brokerage has projected the stock to touch ₹1,088 by FY27, implying a compounded annual growth rate of around 26%. It has also upgraded the rating on Jindal Steel to a buy from reduce earlier. The stock rose 5.7% to ₹575.35 on Monday.
NALCO share price: Market Movers: Why NALCO s future is brighter than what most investors think indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.