Shares of Rail Vikas Nigam Limited (RVNL) witnessed a significant surge of 15% on May 21st, 2024, driven by a major contract win worth ₹148 crore from South Eastern Railway. The company’s shares hit a new all-time high of ₹345.90 on the National Stock Exchange (NSE), marking a remarkable ascent of nearly 200% over the past year. This surge reflects RVNL’s strong financial performance and the positive outlook for its infrastructure development projects.
Hero MotoCorp shares saw a significant boost on Thursday after Emkay Global Financial Services upgraded the stock’s rating to ‘Buy’ from ‘Reduce’ and raised its target price from 4,800 to 5,100. The brokerage believes Hero MotoCorp shares are currently undervalued compared to its peers and remain attractively priced.
Indian Hotels share price witnessed a significant drop of over 4% on Thursday following the release of its March quarter results. Despite reporting a 29.36% increase in consolidated profit to 438.33 crore, the hospitality chain’s total expenses also rose, leading to a decline in share value. The company’s revenue increased to 1,951.46 crore from 1,654.54 crore in the same quarter last year. analysts remain cautious, with Angel One suggesting immediate support at 580 and predicting further selloffs if that level is breached. Nuvama Institutional Equities maintains a “hold” rating but raises its target price to 578, valuing Indian Hotels at 26x FY26E EBITDA. Antique Stock Broking also maintains a “hold” rating and a target price of 500, valuing the company at 24x EV/EBITDA on FY26E EBITDA.
Hindustan Unilever (HUL) witnessed a decline in its share price after reporting its earnings for the quarter ended March 2024. The company’s net profit dropped by 6% year-over-year, leading to a fall in HUL shares by up to 1.2% on the BSE. HUL’s revenue, however, experienced a marginal rise of 2% YoY. The Home Care segment saw a 1% growth, while the Beauty & Personal Care segment contracted by 2%. The Foods & Refreshment segment delivered a 4% growth driven by pricing. Despite the muted results, HUL declared a dividend of 24 per share.
Coal India’s share price has witnessed a remarkable surge of over 90% in the past year, driven by strong demand and a production ramp-up. Analysts anticipate further gains, with an estimated upside potential of more than 15%. Leading brokerage firms, including SBI Securities and Anand Rathi Research, have set target prices that indicate substantial upside from current levels. Key factors contributing to this bullish sentiment include Coal India’s plans to reduce expenses by closing unprofitable mines and streamlining its workforce, leading to a significant decline in employee costs. Additionally, the company’s focus on volume growth, cost savings, and a prudent dividend policy are expected to drive sustained growth in the coming years.
Amidst ongoing industry recovery, TVS Motor Company has emerged as a leading player in the premium two-wheeler segment, capturing significant market share. Despite this growth, the company’s share price has fallen from its peak by 15%, prompting analysts to maintain a ‘Buy’ rating with a revised target price of 2,250. This decline is attributed to broader market trends, including a slowdown in passenger vehicles and a potential downturn in commercial vehicles, which offsets the positive outlook for two-wheelers.
Shares of Tata Consumer Products dropped over 5% on Wednesday following the release of its March quarter earnings. The company’s net profit fell 22.5% to Rs 267.7 crore, while revenue rose 8.5% to Rs 3,927 crore. Tata Consumer’s EBITDA grew 23% to Rs 629.6 crore. Despite the decline, several brokerage firms maintained their positive outlook on the stock, citing the company’s strong growth prospects and recent acquisitions.
Multi Commodity Exchange of India (MCX) shares witnessed a sharp decline of over 5% on Wednesday following the release of the company’s mixed financial results for the quarter ended March 2024. The stock opened at an intraday high of 4,015 and touched a low of 3,800 during the trading session.
Tesla has announced the accelerated launch of new models, originally slated for the second half of 2025, driving its shares up by nearly 7% in after-hours trading. While the company remains tight-lipped about pricing, it cites a need for prudent growth in vehicle volumes amidst uncertain economic conditions. Despite the positive news, Tesla has reportedly scrapped its long-promised inexpensive model and continues to focus on robotaxi development on a small-vehicle platform.
The share price of Gujarat State Petronet Ltd (GSPL) has plunged sharply today after a number of brokerages downgraded the stock. The downgrades come after the Petroleum and Natural Gas Regulatory Board (PNGRB) cut tariffs for the company’s high-pressure (HP) network by 47 percent. The tariff cut is expected to have a significant impact on GSPL’s financial performance, and the downgrades reflect the brokerages’ concerns about the company’s future prospects.
