Sat, Apr 27, 2024 1:23 PM
Should This Phenomenal Stock Replace Tesla in the "Magnificent Seven"?
A Flip by Riya Sharma
Larsen & Toubro (L&T) share price remained in focus on Thursday post Q4 Results that were reported by L&T after the market hours on Wednesday. The Larsen & Toubro (L&T)share price more than 5% in the opening trades Larsen & Toubro (L&T) released reported an 10.3% increase in net profit of to ₹4,396 crore from ₹3,987 crore in the same period the previous year.
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Shares of Tata Power Company Ltd. declined over 2% in Thursday's opening trade after global brokerage firm Goldman Sachs said it expects the stock to fall as much as 45% over the next 12 months. The brokerage has a 'Sell' rating on the Tata Power stock and a price target of ₹240 per share, suggesting a potential downside of 45% from the stock's closing level on Wednesday.
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Shares of both Manappuram Finance and Muthoot Finance are down up to 8% on Thursday after the RBI sent them an advisory on cash disbursal of loans. CNBC-TV18 reported citing sources that the RBI has asked NBFCs to strictle adhere to the Income Tax Act provision on cash disbursement. The central bank said that no NBFC should disburse loan amount in excess of ₹20,000 in cash.
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