Thu, Nov 7, 2024 9:03 AM
Don's return brings cheer to IT, but euphoria may be short-lived
A Flip by Shubhangi Gupta
Shares of Tata Steel were trading higher on Thursday after a surprise beat on profit led brokerages to issue bullish calls on the stock. The firm reported a ₹833.45 crore profit for the quarter under review, a major swing from the ₹6,196.2 crore loss posted in the same quarter last year. JP Morgan reaffirmed its “overweight” rating on Tata Steel, setting a price target of ₹180 per share.
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Power Grid shares fell 0.41% to ₹317.20 after reporting Q2 results, with net profit increasing to ₹3,793 crore and operational revenue remaining flat at ₹11,277.76 crore. The company announced an interim dividend of ₹4.50 per share and analysts expect a promising long-term growth outlook driven by infrastructure development and renewable energy initiatives.
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Sagility grey mark: Sagility India Ltd’s IPO will conclude its subscription today (Thursday, November 7). So far, the offering has seen a strong response from retail investors and employees, while demand from non-institutional investors and Qualified Institutional Buyers remains low. It is anticipated that the issue will receive full subscription numbers on the final bidding day.
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