Ahead of the upcoming RBI credit policy outcome this week, the market witnessed huge volatility today. After 3 days, today the market managed to close with a slight gain. Midcap, smallcap stocks were selling while power, energy, realty stocks declined. But there was buying in metal, auto, PSU bank shares.
At the end of trading, the Sensex closed at 57,808.58 with a gain of 187.39 points, or 0.33 per cent. On the other hand, the Nifty closed at 17266.75 with a gain of 53.15 points or 0.31 percent.
Let’s take a look at those stocks, which saw sharp fluctuations in today’s business and what was the reason behind them. Also, we will see how their position was at the end of the business.
TVS Motor Company | CMP: Rs 654 | The stock closed with a gain of 2 per cent in today’s trading. It registered a net profit of Rs 288 crore during the quarter ended December 2021, registering a growth of 9 per cent as compared to Rs 266 crore in the corresponding quarter last year. At the same time, the company’s revenue increased by 6 percent to Rs 5,706 crore during this period, which is the highest ever. The company sold 8.35 two-wheelers during the quarter ended December 2021, as against 9.52 lakh units in the year-ago quarter. Jefferies has retained its Buy rating on this stock. Jefferies has given a target of Rs 800 for this stock. CLSA has given Underperform to Outperform Rating on the stock and has raised the target of the stock from Rs.656 per share to Rs.711.
Godrej Consumer Products | CMP: Rs 875.50 | Today this stock has closed in red mark. The company’s profit in the third quarter stood at Rs 527.6 crore, up 5.1 per cent. In the third quarter, the company’s income grew by 8.1 percent to Rs 3,302.6 crore. Whereas CNBC TV-18’s poll had estimated it at Rs 3,315 crore. The company’s EBITDA has come down from Rs 693.5 crore to Rs 668 crore on an annual basis. On a year-on-year basis, Goderj Consumer’s Ebit margin has declined from 22.7 per cent to 20.2 per cent.
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PI Industries | CMP: Rs 2,653 | After giving outperform rating on this stock of Credit Suisse, today the stock closed with a gain of more than 2 percent. The brokerage firm has raised the target of the stock to Rs 3,000 per share, which is up 13 per cent from its current level.
PB Fintech | CMP: Rs 882.50 | Today this stock closed in the red mark. Online aggregator insurance company Policy Bazar has incurred a consolidated loss of Rs 298 crore in the third quarter of the financial year 2021-22, while the company had a loss of Rs 195.9 crore in the third quarter of the previous financial year. An increase of 73 per cent was seen and it stood at Rs 367 crore. The company has also said that in the December quarter, the company’s insurance premium has seen an increase of 68 percent on a year-on-year basis and stands at Rs 1798 crore. In fact, the company’s December quarter results have disappointed investors, due to which there has been pressure in this stock today.
Wockhardt | CMP: Rs 394.60 | The stock closed in the green today after the company received approval from the Drugs Controller General of India to export up to 100 million doses of Sputnik vaccines. The company has said in its press release that the company has got permission to export 80 million doses of Sputnik Light and 20 million doses of Sputnik V Component I vaccine.
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