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Dilip Buildcon, Balkrishna Industries, Shakti Pumps hit new highs

Shakti Pumps (India) has moved higher by 8% to Rs 703, surging 26% in past one week on the BSE.

SI Reporter  |  Mumbai 

Dilip Buildcon, Balkrishna Industries, Shakti Pumps hit new highs

of builder Dilip Buildcon, tyre company and industrial machinery manufacturer (India) have hit their respective new highs, gaining more than 20% in last one month on the in otherwise range-bound market.

(India) has moved higher by 8% to Rs 703, surging 26% in past one week, on back of two-fold jump in trading volumes. A combined 1.09 million changed hands on the counter on the and till 12:50 pm. On comparison, the S&P Sensex was trading 0.02% lower at 33,872.

In past one month, the market value of (India) zoomed 33% against 1.6% rise in the benchmark index. The company reported more than four-fold jump in its consolidated net profit at Rs 167 million in October-December quarter (Q3FY18). It had a profit of Rs 41 million in the same quarter year ago.

hit a record high of Rs 1,217, up 3.8%, extending its 17% surge in past seven trading sessions after the company winning multiple orders from the National Authority of India (NHAI). In past one month, the stock rallied 24% on the BSE.

made market debut on August 11, 2016, has zoomed 456% from its issue price of Rs 219 per share. The company raised Rs 6,540 million through initial public offering attracted massive demand with the offer getting oversubscribed by around 21 times.

Despite the furious spike in the stock price, analysts at Dolat Capital reiterate BUY rating on the stock due to its differentiated business model, proven execution capability, growth trajectory coupled with improving financials.

with its differentiated business model that lays on project selection and execution with operational efficiency continues to remain one of the prime beneficiaries of the government’s Bharatmala project (Rs 6.95 trillion), the brokerage firm said in recent report with a 12 month target price of Rs 1,423 on the stock.

too hit new high of Rs 1,310, up 3.6% on the BSE in intra-day trade, soaring 26% in past one month.

BALKRISHNA INDS 1,304.90 1,036.90 25.85
DILIP BUILDCON 1,198.30 979.85 22.29
SHAKTI PUMPS 691.65 524.25 31.93

First Published: Wed, April 11 2018. 13:02 IST