Latest Stock Market News

The top 10 recommended stocks of last Diwali were Lemon Tree Hotels, Coforge, Bharat Electronics, HCLTech, Axis Bank, Federal Bank, ICICI Bank, Marico, Infosys, and Jubilant Ingrevia. Of these, Axis Bank, HCLTech, Bharat Electronics, Coforge, and Lemon Tree Hotels have given returns of over 13-38% since the last Diwali.

Promoters held 0.0 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 24.08 per cent and 2.36 per cent, respectively.

"The sector story is done. The sector may or may not do well because every three years, somebody will do well but that sector will be already out there somewhere. AI, biotech, these things are good to say, but there would not be so many companies. I simply look at the US to check what has changed there and I find nothing has changed."

The revenue for the period under review, however, climbed only marginally to Rs 4,914.3 crore, as compared to Rs 4,908.9 crore in the preceding year. Its income from other operations jumped 33% year-on-year to Rs 296 crore.

When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day.

"Honasa should report industry-leading growth at 27% over the next 3 years. We value at 6x Sep-25 EV/sales (at a discount to HPC peers; implies 67x FY26 PE) to arrive at a price target of Rs 520," Jefferies said, while calling it a high conviction buy.

A total of 2,433 shares changed hands on the counter till time (IST).

The Nifty Bank index was trading 0.06 per cent down at 43656.4.

The stock quoted a 52-week high of Rs 4066.1 and a 52-week low of Rs 2692.0.