Market this week 10-6-2022

Power firms have seen a record 21 percent increase in revenues thanks to strong demand. 1

Power firms have seen a record 21 percent increase in revenues, thanks to strong demand.

Despite margin challenges, power providers have averaged a 21% annual sales rise over the last three years, primarily to strong demand following the return of economic activities and widespread heat waves across India.

According to data from ACE Equities, while the topline for 24 power companies climbed to Rs 93,240 crore in the fourth quarter of FY2022, the bottomline for the same group of companies increased by 32% year on year to Rs 15,593 crore.

However, despite rising demand, operating margins suffered as a result of higher input costs, particularly coal. Total costs grew 20% year over year and 16% quarter over quarter in the quarter under review. Operating margins were 43.8 percent in Q4FY22, down from 46.4 percent in Q4FY21 and 42.9 percent in Q4FY20.

Zomato’s stock has risen 48 percent in the previous month, prompting brokerages to lift their target price.

Zomato Ltd’s stock has risen more than 48 percent in the last month as brokerages raised their target price after the company’s March quarter reporting. On May 11, the stock touched a low of Rs 50 per share, and on Tuesday, it was trading at Rs 74.4 per share, up 4% from its previous close.

a brokerage firm The stock has a ‘overweight’ rating from Morgan Stanley, with a target price of Rs 135 per share. The stock has a ‘buy’ rating from research firm UBS, with a target price of Rs 130 per share. The stock has been raised from hold to buy by Edelweiss Capital, with a price target of Rs 80. Spark Capital has upped its buy recommendation on the company from add to buy, with a target price of Rs 90 per share.

Zomato’s overall net loss for the quarter ended March increased to Rs 360 crore, up from Rs 134.2 crore a year before. Revenue from operations totaled Rs 1,211.8 crore, up 75.01 percent from Rs 692.4 crore the previous quarter.

Sun Pharma’s stock is down after a surprising Q4 loss, while CLSA anticipates a 22 percent gain. This is why:

The stock of Sun Pharmaceutical Industries fell a percent in the morning session of May 31, a day after the business reported its fourth-quarter earnings. On May 30, the pharmaceutical company announced a surprising loss for the quarter ended March 2022 (Q4FY22), owing to one-time expenses.

The Mumbai-based firm reported a net loss of Rs 2,227.38 crore in the most recent quarter, compared to a profit of Rs 848 crore a year ago. The company’s revenue for the quarter increased by 11% year on year to Rs 9,386.08 crore. Exceptional items totaled Rs 3,935.75 crore in the quarter, compared to Rs 672.81 crore the previous year. Settlements and provisions pertaining to Taro Pharmaceuticals and Ranbaxy are among the notable items.

Sun Pharma’s sales in the United States, which accounted for 31% of total sales, increased 5% year over year to $389 million. In the quarter under review, the drugmaker’s sales in India increased by 16 percent to Rs 3,095.60 crore, while sales in emerging markets increased by 7% to $206 million.

Despite the market’s second week of advances, ninety smallcaps lost 10-30%.

In the turbulent week ending May 27, markets continued to climb for the second week, with key indices gaining 0.5-1 percent. The BSE Sensex gained 558.27 points (1.02 percent) to conclude at 54,884.66 in May, while the Nifty50 gained 86.35 points (0.53 percent) to finish at 16,352.5.

The BSE bank index increased by 4%, while the BSE auto index increased by 3.3 percent. The metal index, on the other hand, was down 8%, the oil and gas index was down 3.6 percent, and the real estate index was down 3.2 percent. The broader indexes underperformed, with the BSE small cap index falling 2.7 percent and the mid and large size indices remaining unchanged.

The index has been consolidating inside a broad range for the past three weeks, with Nifty ending around the top end of the range. However, the Bank Nifty index’s relative outperformance was encouraging, and it had already broken over its resistance on expiry day, continuing its outperformance.

Page Industries’ stock is up 7% after reporting a 65 percent increase in Q4 earnings at Rs 190 crore.

The stock of Page Industries Ltd (PIL) rose more than 7% in the morning session on May 27, a day after the garment manufacturer reported a 64.86 percent increase in net profit for the fourth quarter ended March 31, 2022, to Rs 190.52 crore. Page Industries reported a net profit of Rs 115.56 crore for the January-March period of last year in a regulatory filing.

During the quarter under review, revenue from operations increased by 26.15 percent to Rs 1,111.11 crore, compared to Rs 880.76 crore in the previous quarter. The company’s expenses were Rs 870.04 crore in 2020-21, up 18.58 percent from Rs 733.69 crore the previous year.

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