Profitable stocks in last one month—Lemon Tree, CG Power, Balaji Amines Limited, SBI Card

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In a volatile market, each and every bet of yours needs a second thought. The Indian stock market is still recovering from the impact of COVID-19 pandemic. In the last one month, benchmark index Sensex has gained 5%.

But, these following stocks have stood out with its stellar rally in the past month — and here’s why.

Stocks Growth in last one month
Lemon tree 29.26%
CG Power 61%
Balaji Amines Limited 16%
SBI card 14%

Lemon Tree is up over 29% in the past one month
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Motilal Oswal has a ‘Buy’ rating for Lemon Tree with a target price of ₹33. “Lemon Tree Hotels’ cost-saving initiatives have aided in achieving positive Earnings before interest, taxes, depreciation and amortization (higher than the estimate). This is commendable in our view, especially at a time when hotel players have either reported or are likely to post EBITDA loss (for players yet to announce results),” the report said.

The company has gradually made its hotels operational with 86% of its inventory operational in June compared to 58% in April. “Some cost-cutting measures shall also persist post-COVID-19, which should increase EBITDA margin by 500–700bp,” the report said.

CG Power is up over 61% in the past one month

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CG power has been in the news for various reasons in the past month. The company in late July completed the divestment process of its subsidiary, CG Service Systems France SAS (SEFR). Last week CG Power and Industrial Solutions also informed stock-exchanges that Murugappa Group company Tube Investments of India would be investing ₹700 crore to acquire 51% stake in the company.

Balaji Amines is up over 16% in the past one month

The chemical manufacturing company, Balaji Amines shares, have been riding on the hopes of manufacturing gains amid the pandemic. Also being one of the essential item manufacturers, Balaji Amines saw relatively smooth business operations during the lockdown period. The company’s net profit rose 72.11% to ₹32.96 crore in the quarter ended June 2020.

SBI Card is up over 14% in the past one month

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The shares of the second-largest credit card issuer SBI Card is expected to gain more in the coming days, according to Geojit Financial Services. The brokerage has a ‘Buy’ call with a target price of ₹851.

Earlier on July 21, the company also posted a 13.80% year-on-year (YoY) rise in net profit at ₹393.29 crore for the quarter ended June 30.

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