Buzzing Stocks Today: Why Tanla Platforms, Zomato, Tata Seel, Sandur Manganese, Bajaj Finserv shares hogged limelight? Details
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...
Latest Updates
Shares of Paytm dropped 11% on Tuesday as the market declined more than half per cent in afternoon trade. The stock fell by 11.6% to Rs 678.40per share on Tuesday.
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.
Shares of Bajaj Finserv rose more than 4% in BSE intraday trade after the company notified that the Board of Directors will consider the proposal for a stock split of company's equity shares on Thursday.
Karur Vysya Bank Q1 results: The private lender's total business registered 12.05% YoY growth and 110% growth in net profit.
Zomato at record low: Shares of Zomato hit yet another 52-week low of Rs 43.70 per share. The decline in stock price comes after one-year mandatory lock-in of pre-equity shares expired on July 23
Goldman Sachs on Tech Mahindra: The brokerage slashed target price from Rs 1068 to Rs 979 per share. It also cut FY23-26E EPS estimates by up to 6% due to lower margins to a/c for 1QFY23 EBIT margin
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.
Global brokerages on Axis Bank: CLSA maintained a buy rating on Axis Bank with a target price of Rs 975 per share. It said the margin was surprisingly positive in Q1FY23. It feels retail liability momentum is key to a larger rerating
Jefferies on Tata Steel: Jefferies suggested a 'Hold' on Tata Steel for target price of Rs 830
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
EIH share price jumped over seven per cent on Tuesday. The hotel and restaurants stock was trading higher by 7.22% to Rs 154.50per share on the BSE
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
Bajaj Finserv board of directors will on Thursday consider the proposal for a stock split of company's equity shares.
Vinati Organics share price jumps around nine per cent to trade on 52-week high value of Rs 2305.60 in Tuesday's intraday trade. Specialty chemical stock had traded on 52-week low value of Rs 1,675 per share on BSE on February 24 this year
Axis Bank share price: Shares of Axis Bank declined one per cent to Rs 720.80 in early trade on Tuesday. The private lender bank has seen a 91% jump in the net profit at Rs 4,125.26 crore. Besides, it reported a 86% jump in its consolidated June quarter net at Rs 4,380.59 crore, helped by a steep fall in the amount set aside for bad loans.
Tata Steel shares rose one per cent to Rs 974 per share in early trade on Tuesday, a day after the company's profit fell 21% to Rs 7,714 crore in the April-June quarter due to higher costs of materials and finance costs. The company had reported a net profit of Rs 9,768 crore in the same period of 2021-22, the company said in regulatory filing.
Shares of Vedanta rose more than two per cent on the ex-dividend record date. Vedanta stock gained 2.7% to trade at Rs 244.90 per share on the BSE. The company has fixed Vedanta dividend record on July 27
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