Shares of Raymond, Fino Payments, Dodla Dairy and Shankara Building traded higher on Tuesday. Significantly, all of these companies announced their March quarter results on Monday. The momentum was behind the strong quarterly results posted by them.
Fino Payments shares emerged as the biggest gainers, rising nearly 12 percent on an intraday basis, touching their daily high of Rs 292 per share. However, it acknowledged its ealy gains as the transaction progressed and was trading flat with negative bias on the BSE at around 01:10 PM.
Shares of Dodla Dairy jumped more than 8.5 per cent to Rs 524.15 per share, followed by Raymond and Shankara Building shares, which rose about 6.5 per cent each to Rs 866.75 and Rs 725.4 per share, respectively. , BSE Intraday.
Domestic brokerage Arihant Capital expects Raymond’s earnings to grow at a CAGR (compound annual growth rate) of 23 percent from FY21 to FY25.
It believes Raymond has shown steady growth over the years, and has stood the test of time, not just a good recovery, but a record level of performance.
With the rise of consumerism pushing retail sentiment in textiles and clothing, Raymond’s business could grow in the coming years, Arihant Capital said, launching a buy coverage on the stock and a target price of Rs 1,365 per 68 bucks. St. from Monday’s closing price.
At around 01:27 PM, Raymond’s shares rose nearly 4 per cent to Rs 844.8 per share, while Dodla Dairy’s shares rose more than 4 per cent to 504.4 per share and Shankara Building’s shares rose more than 3 per cent to Rs 700.85. Share on BSE.
Amid neutral global indications, Indian markets are rising for the second consecutive session, trading positively. Both benchmark indices – Sensex and Nifty 50 – are up nearly 2 percent intraday.