Tue, Feb 13, 2024 12:45 PM
Market Momentum: Percentage of stocks trading above 20-day average records
A Flip by Avya Verma
KEC International's order book reaches a record high of Rs. 42,500 crore, representing a 2.5x revenue potential, driven by a 70% year-over-year growth in the T&D segment. The company's operating profits grew 17% with improved margins of 6.3%. Sharekhan maintains a "Buy" rating with a revised target price of Rs. 1100, backed by a strong earnings outlook.
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Honeywell Automation India's Q2FY2025 results missed estimates due to weak execution, soft demand, and an accounting treatment change, with revenue and profit down 7% and 5%, respectively. The company aims to grow 2x GDP in India and focus on industrial digitalization, automation, and sustainability, with a revised price target of Rs. 60,000.
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BSE-listed companies gained nearly ₹8 lakh crore in market capitalization on Wednesday, with the Nifty 50 surging 277 points to close at 24,484, as investor sentiment soared following projected U.S. President Donald Trump’s electoral victory. The rally was broad-based, with all sectoral indices ending in the green. The Nifty IT index rose 4%, buoyed by a strengthening dollar and a weak rupee.
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