Wed, Apr 24, 2024 1:37 PM
FPIs continue buying cyclicals like capital goods, auto stocks
A Flip by Avya Verma
Titan’s share price extended losses to a fourth consecutive session on Monday morning as the company’s March quarter results disappointed investors and analysts. The stock went down 4% to hit an intraday low of ₹3,385. The Tata Group company’s net profit stood at ₹771 crore for the March quarter, marking a modest 4.7% increase from ₹731 crore reported.
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A list of recommendations from top brokerage firms from ETNow and other sources: 📌JPMorgan on Kotak Mahindra Bank: Overweight| Target Rs 2,070 📌JPMorgan on D-Mart: Overweight| Target 5,400 📌JPMorgan on Tata Technologies: Underweight| Target Rs 800 📌JPMorgan on Britannia Industries: Neutral| Target Rs 5,260
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The stock gave multibagger returns of 230 per cent from its 52-week low of Rs 32.05 per share and a whopping 900 per cent in 3 years. Apollo Micro Systems Ltd issued 1,65,060,000 new equity shares with a face value of Rs 1 each upon conversion of 16,506,000 warrants post-stock split of equity shares. The issue price per share was Rs 186, raising a total of Rs 23,02,58,700.
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