Stay updated with breaking news from Institutional Equities. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Tata Chemicals witnessed a 4.5% decline in shares, hitting a day's low of Rs 1,050 on BSE. This drop followed the company's announcement of its first quarterly loss in nine years. Kotak Institutional Equities issued a 'sell' rating on the stock, setting a target price of Rs 770, indicating a potential downside of nearly 29%.
UltraTech Cement shares gained 2.38% to Rs 10,200 against the previous close of Rs 9962.25 on BSE. Market cap of the firm rose to Rs 2.91 lakh crore.
There are new opportunities in the market for Honasa Consumer to capitalise on, such as color cosmetics, exports, mass BPC market and new sub-categories, said the brokerage
UltraTech Cement shares surged 2.4% to Rs 10,200 following robust Q4 results. Consolidated net profit grew 36% YoY to Rs 2,258 crore, exceeding estimates. Revenue rose 9% YoY to Rs 20,419 crore. A dividend of Rs 70 per share was recommended. EBITDA increased 33% YoY to Rs 4,250 crore.
YES Bank stock rating: JM downgraded YES Bank’s rating even the private bank saw improved asset quality in Q4, supported by higher recoveries, steady margins and strong growth.