Market this week 7-1-2022
- Coal India’s stock price has risen 4% as a result of an increase in output in December.
- The stock of Indigo Paints has risen by 12% after Motilal Oswal upgraded it to a ‘buy’ rating.
- Titan Company outperforms index gainers, up 3%; brokerages forecast an 18% gain.
- Reliance is up after a subsidiary agreed to buy 100% of Faradion in the United Kingdom.
- The value of HFCL’s stock has increased by 13% as a result of the relationship with Aprecomm.
Coal India’s stock price has risen 4% as a result of an increase in output in December.
The share price of Coal India increased over 4% intraday on January 3 as a result of a surge in December production figures. Coal India Limited reported a 3.3 percent increase in output in December, at 60.2 million tones (MT). In the same month a year ago, the state-owned miner produced 58.3 MT of coal, according to a filing with the stock exchanges on Saturday.
Coal India’s output grew 5.3 percent to 413.6 MT from 392.8 MT in the previous similar period, according to the company. Coal consumption grew by 15.7 percent to 60.7 MT in December 2021, up from 15.5 MT the previous year.
The stock of Indigo Paints has risen by 12% after Motilal Oswal upgraded it to a ‘buy’ rating.
The stock of Indigo Paints jumped more than 12% in the morning session of December 31 after Motilal Oswal initiated covering with a buy rating.
At 09:37 a.m., the stock was trading at Rs 2,187.70, up Rs 245.30, or 12.63 percent. It has traded between a high of Rs 2,187.70 and a low of Rs 1,980.05 during the day. The stock was trading at 2,951 shares per day, up from its five-day average of 1,032 shares, an 185.89 percent rise.
Titan Company outperforms index gainers, up 3%; brokerages forecast an 18% gain.
The share price of Titan Company rose over 3% intraday today as the Indian equity market shrugged off Omicron worries. At 10:29 a.m., the stock was the top gainer on the Sensex, trading at Rs 2,523.45, up Rs 86.80 or 3.56 percent. It has traded between a high of Rs 2,531.55 and a low of Rs 2,440 during the day.
It was trading with 35,391 shares, up from 27,983 shares in the previous five days, a 26.48 percent rise.
Motilal Oswal, a domestic research and broking business, has maintained a buy call on the stock, with a target price of Rs 2,830 per share, a 12 percent increase over the current market price.
Reliance is up after a subsidiary agreed to buy 100% of Faradion in the United Kingdom.
The stock of Reliance Industries Ltd (RIL) climbed in early trade today after a subsidiary of the business reached definitive agreements to buy 100% of sodium ion battery technology manufacturer Faradion.
Faradion will be purchased in its entirety by Reliance New Energy Solar (RNESL) for a total enterprise value of 100 million pounds. RNESL will pay 31.59 million pounds for new Faradion equity shares, of which 25 million pounds will be used as growth capital to accelerate commercial deployment and the rest will be used to settle debt and other costs.
The value of HFCL’s stock has increased by 13% as a result of the relationship with Aprecomm.
On January 5, the telecom business announced a cooperation with Aprecomm, a leading AI-powered wi-fi analytics technology provider, and the stock jumped 13% intraday to Rs 89.40. HFCL has established a partnership with Aprecomm to power its network products with artificial intelligence (AI) based analytics.
It now wants to integrate these analytical capabilities for a wider variety of its goods and solutions after successfully deploying and testing the AI-based solution in its PM-WANI installations, according to the company. HFCL’s whole IO product portfolio will now include AI-powered network analytics, which will improve the experience for both network service providers and end-users.
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