co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Stocks to Watch, 16 January: Stocks like Infosys, ICICI Prudential Asset Management Company, HDB Financial Services, Nuvoco Vistas Corporation, Angel One, 360 ONE WAM, South Indian Bank, Swaraj Engines, Waaree Renewable Technologies, Biocon, and RailTel Corporation of India will be in focus on January 16.
On the Nifty 50, traders should remain cautious as the persistent gap openings and indecisiveness on the charts highlight the possibility of continued volatility, Sudeep Shah of SBI Securities advised.
Swaraj Engines net profit rose 22.7 percent sequentially and 5.5 percent annually to Rs 43.19 crore. The company's revenue rose 19 percent sequentially and 4.5 percent annually to Rs 399.8 crore.
The company has strong fundamentals, and now that it is going to become an M&M subsidiary, M&M’s solid performance should reflect in SEL’s numbers going ahead. ICICI Securities has hiked its target price by 23.5 percent
As Swaraj Engines' shares were not core to the company's holdings and were illiquid, "we decided to monetise our shareholding by selling it through the off-market transaction to the co-promoter," KIL managing director Mahesh Chhabria said.
ICICI Direct recommended hold rating on Swaraj Engines with a target price of Rs 2075 in its research report dated September 21, 2022.
Swaraj Engines traded up about 13 percent to Rs 1,919.
ICICI Direct recommended hold rating on Swaraj Engines with a target price of Rs 1680 in its research report dated April 27, 2022.
ICICI Direct recommended hold rating on Swaraj Engines with a target price of Rs 1720 in its research report dated January 27, 2022.
