This often overlooked Nifty stock has suddenly come into reckoning after bouncing nearly 33 per cent in the last one month – the most for any stock in the elite pack.
Brokerages raise target price on Lupin by up to 50%
CLSA retained a ‘sell’ rating saying that the key positives are more than priced in at 27 times FY23 price to earnings.
Synopsis
Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term growth visibility, said Kotak Institutional.
Mumbai: Brokerages have raised target price on Lupin by 9-50% after the company on Thursday reported an 18% increase in its consolidated net profit for the March quarter. Shares of Lupin ended down 2.6% at ₹1,178.80 on Friday.
Kotak Institutional Equities said Lupin is well positioned to deliver strong margin expansion over FY22-23. Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term
Shibulal buys 7,58,755 shares of Infosys amounting to ₹100 crore
May 13, 2021
With this deal, Shibulal’s shareholding in the company has increased to 0.07%
The co-founder of Infosys, SD Shibulal, has increased his stake in the company to 0.07 per cent as per the notification to the BSE.
Shibulal purchased 7,58,755 shares of the company amounting to ₹100 crore in a block deal transaction at an average price of ₹ 1,317.95 per share, according to the BSE data. The former CEO’s stake before the transaction was 0.05 per cent.
The sale was executed by ICICI Securities Private Limited as the sole broker. With this deal, Shibulal s shareholding in the company has increased to 0.07 per cent. In a separate transaction, Kumari Shibulal sold over 7.58 lakh shares at the same price of ₹1,317.95 per share. Her shareholding post transaction, has come down to 0.19 per cent from 0.21 per cent.
NEW DELHI:
Asian Paints is expected to report an 80-100 per cent jump in net profit for the March quarter on a 20-30 per cent increase in sales.
Volumes are seen rising 28-38 per cent while the Ebitda margin is seen expanding by 330-540 basis points on a year-on-year basis. All eyes will be on the impact of the second wave of the pandemic on demand, inflation in raw materials, rollbacks of discounts, reversals in product price cuts and the dealer addition trajectory.
The paints maker is expected to report a profit of Rs 905 crore (attributable to shareholders) for the quarter ended March 31, up 96 per cent from the Rs 462 crore it had reported for the year-ago period. Revenue is seen climbing 29.4 per cent on year to Rs 6,000 crore from Rs 4,636 crore, an ET NOW earnings poll suggested.
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NEW DELHI: The auto sector, and by extension auto ancillaries, were cruising on a highway a couple of months back, but as a devastating second wave of the Covid-19 pandemic surfaced, these stocks have hit a number of bumps and got slowed down.
Analysts now say CEAT, a smallcap tyre manufacturer, appears to be getting bruised badly from the jolts. They say rising raw material costs, declining demand and lower cash flow generation will likely hurt the stock’s prospects in the coming year.
Siddhartha Bera, an analyst at Nomura, said the company’s March quarter numbers were below expectations. “There are growth and margins headwinds ahead,” he said, adding that strong commodity cost pressure and additional capex would impact the firm’s free cash flow generation, swelling its debt burden.