Shares of Indian engineering company Greaves Cotton went up sharply after the company’s subsidiary Greaves Electric Mobility that makes electric vehicles registered strong sales of electric vehicles in December. The company's e-mobility arm sold more than 10,000 units of electric vehicles including both two-wheeler and three-wheeler sales.
The stock had gone up 60% in the last one year.
Shares of the Drug maker Solara Active Pharma Sciences went up as much as 12% today. The stock began 2022 on a good note considering it only fell in the last one year.
Analysts at brokerage firm ICICI Securities gave a ‘buy’ rating to the stock with a target price of ₹1,249 per share, indicating further rise of 14%.
“We remain positive on the long term outlook considering presence only in the active pharmaceutical ingredients (API) and contract research and manufacturing and development services (CRAMS) space thereby removing any potential conflict with clients, maintaining large market share in key products, strong regulatory track record places Solara in a strong position to monetise the growing API business opportunities which would be augmented by the potential merger with Aurore Life,” said the brokerage firm in a report.
Shares of the Bengaluru-based multinational gold retailer spiked almost 14% in one day. The company refines, designs, and sells gold and jewellery.
The company’s shares gave healthy returns last year as it went up 73%. Moreover, the company bagged a prestigious order worth ₹782 crore on November 18 of a designer range of jewellery from Germany, which is expected to be completed within three months.
Rajesh Exports' consolidated net profit grew 68.45% to ₹291.43 crore in September quarter.
Small cap Indian information technology company stock jumped 10% on Monday. It provides business process management, automation and analytics services to a number of fortune 2000 companies.
ICICI Securities has given a ‘buy’ call on the stock along with a target price of ₹2,900, which is around 4% more from the current market price.
Also, the stock has performed well in the last one year by 216%.
The chemical manufacturing company is one of the beneficiaries of the China plus one strategy specially after manufacturing units in China closed temporarily due to shortage of electricity during October.
China Plus One is the business strategy to avoid investing only in China and diversify business into other countries.
The chemical manufacturer produces methylamines, ethylamines, derivatives of specialty chemicals and pharma excipients. The company’s net profit doubled in the September quarter at ₹88 crore.
The Chennai-based company manufactures fabricated metal products. The company specialises in cycles, steel tubes, strips, chains, and metal formed items. Shares of the company grew 134% in the last one year.
In November, the company signed an agreement to acquire about 25% stake in a Indian Institute of Technology (IIT), Madras incubated startup that is engaged in the development of micro gas turbine technology for power generators and automotive application. The proposed investment is in line with the company's intent to invest in start-ups engaged in innovative research and product development in fields/activities of interest to the company.
Its consolidated net profit in September quarter had risen 69.77% to ₹168.48 crore.
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