Buy GNA Axles: Target Of Rs 410: Sharekhan moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Updated Jan 11, 2021 | 15:06 IST
Markets begin the week on a positive note with both Sensex, Nifty hitting fresh record high in trade. Nifty IT Index surges 3% in trade with Infosys leading the gains. Representational Image | Photo Credit: PTI
Key Highlights
JK Tyre surges most in 2 months at highest level since December 11
Bajaj Electricals gains most in 2 months, hits record high
TCS: Stock hits record high after reporting the fastest Q3 growth in nine years. TCS’ Q3 beat estimates on all front with profit growth of 16.3% on a quarter-on-quarter basis and revenue growth of 4.1% QoQ in constant currency terms. IT major reported EBIT margin of 26.6% in Q3 vs 26.2% in Q2.
Read more about GNA Axles spurts on robust Q3 numbers on Business Standard. GNA Axles jumped 10.21% to Rs 356.25 after the company s consolidated net profit surged 249% to Rs 26.64 on 28.9% rise in revenue from operations to Rs 276 crore in Q3 December 2020 over Q3 December 2019.
How to choose auto component stocks
Here are some yardstick for selecting auto component stocks
Listed vehicle manufactures are only a handful in number. But it is not so when it comes to the auto component space, which has a number of mid- and small-cap stocks. The supply chain for the auto companies is quite long, consisting of at least three tiers of vendors. Thus, the auto component industry is highly fragmented. With auto being a cyclical industry, the fortunes of many parts suppliers also wax and wane with ups and downs in the cycle. Typically, companies having a diversified client and geography base, those supplying to more than one segment of vehicles (i.e., cars, bikes, trucks, three-wheelers, tractors, off-road vehicles) as well as those that cater to both the new vehicle as well as the replacement market requirements tend to weather a storm better. How should investors go about picking auto component stocks? Here’s a guide: