Fri, Nov 15, 2024 12:34 PM
LIC-owned penny stock turn multibagger in 5 years. ₹1 lakh turns to ₹8 lakh
A Flip by Avya Verma
Pitti Engineering Ltd demonstrated solid top-line and bottom-line growth, with revenue increasing by 41.9% YoY to INR 4,294 Mn, driven by strong volume growth, and PAT growing by 72.8% YoY to INR 380 Mn. The company's outlook is positive, with a maintained FY26E P/E of 25.0x and EPS of INR 62.1, supporting a "BUY" rating with a target price of INR 1,552.
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Global brokerage firm CLSA has raised India allocation to a 20% overweight while cutting exposure to China in a tactical reversal, citing India’s stable economic conditions and robust foreign flows waiting on the sidelines to re-enter. This shift comes amid concerns about China’s economic struggles, including deflationary pressures, sluggish real estate investment, and high youth unemployment.
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Glenmark Pharmaceuticals Ltd on Thursday reported a consolidated profit after tax of Rs 354.49 crore in the second quarter ended on September 30, 2024.The company reported a consolidated loss after tax of Rs 180.3 crore in the same quarter last fiscal, Glenmark Pharmaceuticals said in a regulatory filing. Consolidated total revenue from operations in the second quarter stood at Rs 3,433.8 crore.
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