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NEW DELHI: The stock of Butterfly Gandhimathi Appliances traded about 1 per cent shy of its all-time high of Rs 923.85 on Wednesday. The smallcap firm that deals in household appliances has seen a secular rise after it reported strong revenue and improved profitability for the latest quarter. Ace investor Dolly Khanna held 2,85,050 shares, or 1.6 per cent stake, in the company as of March end, up 10 basis points compared with that at the end of the previous quarter. Her stake was valued at Rs 23 crore as of Wednesday. Butterfly Gandhimathi Appliances has been a multibagger in the last one year, delivering over 830 per cent return as it rose from Rs 98.30 to hit a new 52-week high of Rs 923.85 earlier this week. (on May 24 2021) ....
The recent spike in Covid-19 cases in the country poses near-term risks to Indian Railway Catering and Tourism Corporation s (IRCTC) growth, but the company s monopolistic nature of business, low fixed-cost model and healthy net-cash position have analysts hooked. The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9 amid worries over the steady rise in Covid cases. Yet, this has not deterred brokerages from holding a bullish view on the stock. Accelerated adoption of online ticketing, conversion of unreserved coaches to 2S class, increase in capacity in the packaged drinking water (PDW) business and resumption of private trains will likely act as a ‘profit windfall’ in the coming quarters, say analysts, and should boost IRCTC s growth. ....
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India’s consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) – its telecom venture – will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say. ....
Signs of demand revival in the leisure travel segment coupled with expectations of a sharp recovery in FY22 earnings have analysts gung-ho on Indian Hotels Company (IHC), whose shares have rallied a whopping 105 per cent from the 52-week low levels hit in May last year. However, on a year-to-date (YTD) basis, the shares have underperformed Sensex and peers, and even since September last year. IHC stock has added 3 per cent YTD as against a nearly 7 per cent rise in Sensex. While since the end of September, it has gained 31 per cent vs a 34 per cent jump in the benchmark, Ace Equity data shows. ....
A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders. A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday. The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels. ....