Fri, Apr 19, 2024 4:10 PM
'Crowded' megacap trade in US stocks awaits earnings test
A Flip by Avya Verma
Shares of REC Ltd. and Power Finance Corporation Ltd. are trading with gains between 8% and 10% on Thursday. Both the stocks are trading at their respective all-time highs. While shares of REC are up for the eighth day running, those of PFC are up for the third day in a row. REC reported its March quarter results on Tuesday where its Net Interest Income increased by 25% from last year.
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Shares of Shakti Pumps (India) Ltd were locked in the upper circuit on Thu, gaining 5.00%. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 90 per cent. The revenue of the company for Q4FY24 stood at Rs 609.28 crore which grew by 233.56% YoY.
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Coal India share price traded almost flat on Thursday ahead of Q4 results to be declared today. Coal India share price however has risen more than 92% in a year. The strong production numbers having been reported by Coal India have supported the confidence of investors. Strong Volume growthCOAL dispatches grew 7.7% year-on-year to 202 million tonne in 4QFY24.
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