ONGC (2.67% up)
The Oil and Natural Gas Corp. Ltd (ONGC) stock gained 2.67% on Tuesday after brokerage firm CLSA upgraded the staterun company with target price of Rs1,064 per share. The brokerage firm says that the stock is trading at 440% discount to global peers.
Lanco Infratech (4.61% up)
Lanco Infratech Ltd surged 4.61% after JPMorgan initiated coverage with an overweight rating and 11 March price target of Rs70. This includes Rs35 from a visible operating and underconstruction power portfolio of 5GW, Rs16 from the construction business.
IDFC (2.66% down)
Infrastructure Development Finance Co. Ltd (IDFC) ended down 2.66% on dilution concerns after the company said they are looking to raise up to Rs3,500 crore in next 12 months in various tranches. The march quarter consolidated profit after tax came at Rs228 crore from Rs116 crore.
Sasken (4.6% down)
Sasken Communication Technologies Ltd ended down 4.6% after Goldman Sachs bought 212,000 shares (0.7% stake) and Citigroup sold 200,000 shares (0.7% 4stake) at Rs216.5 per share. The firm’s shares closed at Rs213.40 each on the National Stock Exchange on Tuesday.
Maruti Suzuki (3.78% down)
Maruti Suzuki India Ltd declined 3.78% after the firm told CNBCTV18 that newmodel launches have put pressure on margins. Brokerage firm CLSA cut FY1112 earnings per share estimates by 2% and maintained “underperformer” recommendation on the stock with a target price of Rs1,300.
TVS Motor (5.47% up)
Shares of twowheeler maker TVS Motor Co. Ltd gained 5.47% after Bank of America Merrill Lynch revised earnings per share forecasts by 5.7%/3.7% over estimated FY1112, and price target by 8% to Rs108. Bank of America expects the improvement to sustain.
Whirlpool (3.73% up)
Shares of Whirlpool of India Ltd ended up 3.73% after Whirlpool Corp. surged 10% to an alltime high after results beat street expectations. First quarter saleswere up 20% at $4.27 billion. The firm also raised this fiscal earnings per share to $88.50 from $6.50$ 7.
Rain Commodities (4.05% down)
Rain Commodities Ltd ended down 4.05% after fourth quarter consolidated sales fell 25% to Rs753.8 crore from Rs1,015.5 crore during the same period last fiscal. Profit after tax fell 32% to Rs59.04 crore from Rs87.2 crore in the corresponding period last fiscal.