Q4 Results 2022 Impact: Fino Payments, Dodla Dairy, Raymond shares surge after companies post robust results; 68% upside seen in Raymond, analyst suggests BUY

Shares of Raymond, Fino Payments, Dodla Dairy, and Shankara Building Products were trading with considerable strength on Tuesday. Notably, all these companies declared their March quarter results on Monday. The momentum was on the back of strong quarterly results posted by them.

Fino Payments shares emerged as the biggest gainers and were up by almost 12 per cent on the intraday basis to touch their day’s high level of Rs 292 per share. However, it conceded its ealy gains as the trading progressed and was trading flat, albeit with negative bias on the BSE at around 01:10 PM. 

While Dodla Dairy shares jumped over 8.5 per cent to touch a day’s high of Rs 524.15 per share, followed by Raymond and Shankara Building shares, which gained around 6.5 per cent, each and were trading at Rs 866.75 per share and 725.4 per share, respectively, on the BSE intraday. 

Domestic brokerage Arihant Capital expects revenues of Raymond to grow at a CAGR (Compound Annual Growth Rate) of 23 per cent from FY21 to FY25.  

It believes that Raymond has displayed a stable growth through the years, and stood the test of the pandemic, not only making a good recovery but reaching record levels of performance.  

Raymond’s business is well poised to grow through the years to come with the rise of consumerism pushing retail sentiment in textiles and apparel, Arihant Capital said, initiating a Buy coverage on the stock, and a target price of Rs 1,365 with an upside of 68 per cent from Monday’s closing price.  

At around 01:27 PM, shares of Raymond were up almost 4 per cent to Rs 844.8 per share, while Dodla Dairy shares were also up over 4 per cent to 504.4 per share and Shankara Building shares gained over 3 per cent to Rs 700.85 per share on the BSE. 

The Indian markets surging for the second straight session, are trading positive amid neutral global cues. Both the benchmark indices – Sensex and Nifty50 – are higher by around 2 per cent intraday.