Stock Market LIVE Updates: On the sectoral front, capital goods index up 1 percent, while realty and pharma indices up 1 percent each.
Nifty 50 16,552.20 68.35 (0.41%
Sharekhan View on Asian Paints
The company is focusing dominant positioning on becoming complete home décor play in the long run gives us a visibility of better earnings growth in the medium term.Market share gains, distribution expansion and sustained product additions will help the company to achieve consistent volume growth and maintain the leadership position in the paints business.We expect APL’s revenues and PAT to grow at CAGR of 16 percent and 27 percent over FY2022-24. However, any increased competition from new entrant with higher capacity in the domestic paint industry would act as risk to profitability in the medium to long term.We maintain our ‘buy’ rating on the stock with an unchanged price target of Rs 3,689.
Credit Suisse View on L&TBroking house Credit Suisse has kept outperform rating on the stock with a target at Rs 2,000 per share as the results were slightly below expectations.The revenue was disappointment driven by infrastructure & energy segments and margin was lower in infrastructure & hi-tech manufacturing.The order inflows surprised positively, given fewer announcements in quarter, reported CNBC-TV18LY 27, 2022 / 08:06 AM IST
Bzzing:Tata Power Company recorded a 90% year-on-year growth in consolidated PAT before exceptional items at Rs 884 crore for the quarter ended June 2022, against Rs 466 crore in Q1FY22, due to improved performance across all businesses mainly profit from coal companies.Consolidated revenue grew by 48% to Rs 14,776 crore during the same period.
Market at 12 PMBenchmark indices were trading at day’s high with Nifty above 16500.The Sensex was up 290.88 points or 0.53% at 55559.37, and the Nifty was up 81.20 points or 0.49% at 16565. About 1533 shares have advanced, 1432 shares declined, and 133 share
JULY 27, 2022 / 11:54 AM ISTNifty Information Technology index added nearly 1 percent supported by the TCS, Coforge,
Nifty Pharma index rose 1 percent led by the Zydus Life, Laurus Lab, Glenmark Pharma
JULY 27, 2022 / 11:44 AM ISTPrabhudas Lilladher View on Asian PaintsWe increase our FY23/FY24 EPS by 34.3 percent/29.3 percent given (1) bottomed out margins on sharp decline in input costs in past few weeks, (2) Benefits of calibrated price increases (25 percent YoY), (3) strong demand for both B2C and B2B segments in paints, and (4) Improved mix in paints and sustained traction in home décor, waterproofing and project business.We believe long-term structural levers remain intact led by (1) market share gains in decorative paints in an industry growing at double digits, (2) increased distribution (addition of 5k retail touch points in 1Q23), (3) innovations and focus on high growth waterproofing/wood finishes segment, (4) scalability plans in home décor from 4 percent to 10 percent by FY26 by both organic and inorganic means.We expect APNT to sustain premium valuations given strong growth visibility. We maintain our ‘buy’ rating with a target price of Rs 3363 (Rs 3018 earlier)
JULY 27, 2022 / 11:38 AM ISTDr. Reddy’s Laboratories launches Bortezomib for InjectionDr. Reddy’s Laboratories announced the launch of Bortezomib for Injection 3.5 mg, the generic equivalent of Velcade (bortezomib) Injection, in the US market approved by the U.S. Food and Drug Administration (USFDA), company said in its release.The Velcade Brand and generic had US sales of approximately USD 1.2 billion MAT for the most recent twelve months ending in May 2022 according to IQVIA Health.Dr. Reddy’s Bortezomib for Injection, is supplied in a 3.5 mg per 10 mL single-dose vial presentation for subcutaneous (SQ) or intravenous (IV) use, it added.
JULY 27, 2022 / 11:33 AM ISTNifty Pharma index rose 1 percent led by the Zydus Life, Laurus Lab, Glenmark Pharma
JULY 27, 2022 / 11:27 AM ISTCLSA View on L&TForeign research firm CLSA has kept buy rating on the stock with a target at Rs 2,050 per share.The strong order momentum is continues and balancesheet getting lighter with lower liquidity.The FY23 guidance remains robust, reported CNBC-TV18.Larsen & Toubro was quoting at Rs 1,810.05, up Rs 59.60, or 3.40 percent on the BSE
JULY 27, 2022 / 11:23 AM ISTZomoto tops in negative return