Buzzing Stocks Today: Why Tanla Platforms, Zomato, Tata Seel, Sandur Manganese, Bajaj Finserv shares hogged limelight? Details
There will be several stocks that will remain in focus on Tuesday. These stocks would be responding, based on Q1 results, corporate announcements (dividend, bonus, stock split) and other developments related to stock market. We will keep a tab on all of these stocks throughout the day and bring you the latest updates.
Watch out for this space...
There will be several stocks that will remain in focus on Tuesday. These stocks would be responding, based on Q1 results, corporate announcements (dividend, bonus, stock split) and other developments related to stock market. We will keep a tab on all of these stocks throughout the day and bring you the latest updates.
Watch out for this space...
Latest Updates
Shares of Sandur Manganese and Iron Ores gained almost 15% in BSE intraday trade to Rs 1232 per share on the BSE as the ex-date for right issue share falls on July 26. The company has committed for two shares against every one share held by the eligible shareholders on the cut-off date.
Morgan Stanley on Canara Bank: The global brokerage house resorted to a target cut from Rs 240 to Rs 230. It maintained an underweight stance on Canara Bank saying the growth appears less profitable. It said Core PPoP was 38% below estimates on Lower revenues, however, loan growth was strong.
Morgan Stanley on Tech Mahindra: Global brokerage house gave an overweight rating on the auto counter. It gave a target price of Rs 1100 per share. The bullishness was due to reasonably strong growth and good FCF yield. However, it feels it disappointed on margins like peers.
JP Morgan on Tata Steel: The global brokerage maintained an overweight rating on Tata Steel with a target price of Rs 1400. However, it said, Q2 should be weaker QoQ . Large Q1FY23 beat with Europe EBITDA/t -$365 /t. "Steel prices have bottomed in India. Given limited imports, lower cooking coal to drive earnings rebound in H2," it said
Tanla Platforms share drops over 20% to hit lower circuit in Tuesday's intraday trade. Shares of Software manufacturer declined around 24% in early trade as the stock traded on 52-week low of Rs 731 per share after it came out with Q1 results. As per the company, revenue increased by 28% year-over-year to ₹8,001 million. Gross profit increased by 7% year-over-year to ₹1,850 million. Gross margin at 23.1%..EBITDA stood at ₹1,307 million. EBITDA margin at 16.3%. • Profit after tax at ₹1,004 million. Profit after tax margin at 12.5%. • Earnings per share at ₹7.40. • Free cash flow at ₹718 million and Cash & Cash Equivalents at ₹9,873 million