Wed, Feb 14, 2024 4:13 PM
BSE PSU Index soars 93% in past year, but PE still at 40% Nifty discount
A Flip by Shubhangi Gupta
Shares of Ola Electric were upbeat after the Bengaluru-based electric vehicle maker hit record lows in the two previous consecutive sessions. The Bhavish Aggarwal-led firm saw its shares hitting a fresh record low of ₹73.5 during Wednesday’s intra-day trading. Before this, Ola Electric had plunged to ₹73.84 on Tuesday, which at the time was the lowest level the company hit since its listing.
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Shares of Tata Steel were trading higher on Thursday after a surprise beat on profit led brokerages to issue bullish calls on the stock. The firm reported a ₹833.45 crore profit for the quarter under review, a major swing from the ₹6,196.2 crore loss posted in the same quarter last year. JP Morgan reaffirmed its “overweight” rating on Tata Steel, setting a price target of ₹180 per share.
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Power Grid shares fell 0.41% to ₹317.20 after reporting Q2 results, with net profit increasing to ₹3,793 crore and operational revenue remaining flat at ₹11,277.76 crore. The company announced an interim dividend of ₹4.50 per share and analysts expect a promising long-term growth outlook driven by infrastructure development and renewable energy initiatives.
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