Company has increased capex for the business to tap into new opportunities
The stock has been under pressure on concerns related to the demand, its ability to sustain margins, and increased competitive pressures due to policy decisions
This could aid overall profitability, even though other segments may see margin moderation
Stocks to Watch Today: Asian Paints, Cipla, Gujarat Gas and Vodafone Idea will be in focus ahead of the Q4 results on Tuesday, May 10, 2022.
While there are multiple positives across SRF's key segments, investors should await for a better opportunity to enter the stock
Q3 performance was led by strong demand/realisations in the chemicals business
Bargain buying in banking and auto counters amid better-than-expected Q3 results by Axis Bank and Maruti Suzuki pushed the index 367 points higher at 57,858 level at close
Reliance Industries has decided to implement a Scheme of Arrangement (Scheme) to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS)
Gains from multiple triggers are factored in valuations which limits upsides
The board of directors of the Company is scheduled to meet on Tuesday, August 31, 2021 to consider and approve issuance of bonus shares subject to approval by the shareholders of the Company.
Given the valuation worries, investors should await further correction before considering the stock
While medium term prospects remain strong, the upsides after recent rally are limited
Tata Motors DVR, Intellect Design and SKF India are among the stocks that may be added to the MSCI SmallCap index
Continued demand momentum in packaging and films segment add to the optimism
Most brokerages have revised upwards their earnings estimates, not only for FY21, but also for FY22
ICICI Prudential Mutual Fund, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, Nippon Life India Asset Management, and SBI Mutual Fund have allotted shares in QIP.
All that happened in the markets today
Specialty chemicals and packaging businesses to aid near term growth
Traders are advised to hold Nifty longs with 11,200 stoploss and keep it trailing as Nifty rises
Given the essential nature of production, some plants are exempted from the lockdown