Shares of Galaxy Surfactants, NOCIL, Minda Corp, Indoco Remedies, PI Industries, and DLF rose as much as 9 percent on the BSE intraday in Wednesday’s trading session, after reporting strong revenue and margins during the March quarter of the 2021 fiscal year on Tuesday 22 (Q4FY22). .
Personally, shares of Galaxy Surfactants and NOCIL rose the most by 9 per cent to Rs 2,822 and Rs 265 per share, while shares of Minda Corp and Indoco Remedies rose nearly 7 and 6.5 per cent to Rs 221.5 and Rs 375.1, respectively, on the BSE intraday.
Similarly, PI Industries rose more than 4.5 per cent to Rs 2,638.35 on the BSE intraday and DLF shares rose more than 3 per cent in the morning trade, however, flat traded at a positive bias of Rs 334.35 per 0.46 against the 10 per cent gain in the BSE Sensex at around 10:13 PM.
Yes Securities on Indoco Remedies FY22 boosted revenue estimates for strong U.S. guidance that offset the impact of the Gross Margin Cut; A lower part outside the margins with an unchanged growth outlook will support the re-rating.
In a strong growth forecast, the brokerage offers a buy rating (up 42 percent) with a target price of Rs 500 per share, and the stock remains one of Pharma’s top bets.
Yes Securities believes that Minda Corp is in a good position to lead new order win in EV (potential EV kit price of Rs 16-20k), focus on value-added products (smart key and advanced TFT cluster) and increasing localization.
The company is also in a good position, led by a good demand outlook on CVs and export and cost optimization, and expects margins to expand further in the long run, the brokerage added.
For PI Industries, NOCIL and Galaxy Surfactants, Motilal Oswal reviewed the strong fourth quarter results and recommended buying both stocks with a long term outlook.