HPL Electric & Power has reported a sales total income from operations of Rs 256.10 crore and a net profit of Rs 4.32 crore for the quarter ended Jun-2018
Avinnash Gorakssakar, Market Expert suggests holding HPL Electric with a view of six months for target of Rs 160.
Equity benchmarks as well as broader markets erased more than half of early gains amid consolidation. Oil, FMCG and pharma stocks continued to support the market whereas banks and infra stocks were under pressure ahead of RBI monetary policy.
Some of the stocks that should be on your radar are: Motherson Sumi Systems, Crompton Greaves, Hero Motocorp, Tata Motors, Wockhardt, Welspun India, Bharat Financial Inclusion, HPL Electric.
Banking and financial stocks will be in focus towards the end of next week, especially ahead of RBI's fourth bi-monthly policy statement that scheduled to be announced on October 4.
The initial public offer (IPO) of HPL Electric & Power has been subscribed 29 per cent on the second day of the bidding today.
The market snapped its two-week winning streak due to Monday's heavy sell-off on account of uncertainty over central banks' move and profit booking, though it recouped some losses amid consolidation in later part of the week.
The funds raised from the IPO would be used for paying term debt, working capital requirement and other corporate purposes, said Gautam Seth, Joint Managing Director, HPL Electric.