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Jyoti CNC Automation Ltd (JCAL) is a maker of metal-cutting computer numerical control (CNC) machines. It holds the third-largest market share in India, accounting for approximately 10% in FY22-23.
Brokerage house InCred Equities sees FY24 Nifty target at 21,103 and maintains an ‘overweight’ stance. Meanwhile, it recommends booking profits after a 20.8 percent return from the Nifty Infrastructure index in the last six months.
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The closure shall continue until the situation improves for the resumption of the operation of the plant, company said.
Among sectors, selling was seen in the FMCG, power and infra, while pharma and realty were up a percent each. Information technology, PSU bank and metal each gained 0.5 percent