Wed, Apr 24, 2024 1:07 PM
Why the steep plunge in stocks in April means the bull market can push on?
A Flip by Shubhangi Gupta
Shares of Avenue Supermarts traded lackluster after a 22% YoY jump in its March quarter net profit failed to impress D-Street investors. Post its quarterly earnings, JPMorgan upgraded the stock and raised its target price. Domestic brokerage Motilal Oswal and Prabhudas Lilladher maintained their buy ratings while Nuvama and Kotak Institutional Equities retained their 'Hold' and 'Sell' stance.
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Mangalore Refinery & Petrochemicals Limited (MRPL) shares dropped as much as 8.85 per cent to hit an intraday low of Rs 229.15 apiece on Monday The falls came after the company reported a weak set of quarter-ending March (Q4FY24) results. MRPL’s standalone net profit plummeted over 40 per cent to Rs 1,138 crore in Q4FY24, from Rs 1,913 crore in Q4FY23.
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Raymond will invest close to Rs 200 crore and expand its capacity by a third of its current levels. This will take the garment manufacturer and retailer to become the third largest suit maker in the world, said chief financial officer Amit Agarwal in an interaction with CNBC-TV18.“…In the garmenting business we are putting a capex of almost Rs 200 crore, expanding the lines and capacity.
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