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The company said it is investing and setting up ten new facilities in India to support customers’ growth in auto and non-auto business

Several large cap stocks showcased robust performance on November 8, surpassing their 50-Day Simple Moving Average (SMA).

Standalone profit for the three months ended September rose over two-fold to 5.61 billion rupees ($67.36 million), but fell short of analysts expectations of 6.28 billion rupees, per LSEG data.

A total of 611,931 shares changed hands on the counter till 02:09PM (IST).

“In the high risk category, my first bet would be Prakash Industries. This company again should cross Rs 200 levels. The other risky one is Indiabulls Housing Finance. If stocks like LIC Housing Finance can move up, this stock should also do well and go to 220 levels by next Diwali. "

The company said its consolidated total income increased to Rs 3,136.3 crore in the second quarter of the ongoing fiscal from Rs 2,305.9 crore in the same quarter last year.

“You are much better off with the Sovereign Gold Bonds if you have got an eight-year view and an ETF if you have got a three-year view. But yes you will end up paying more tax with ETF and less tax with SGB. Investing in multi-asset funds is another way because gold is a part of multi-asset funds and there you will pay less tax compared to an ETF.”

As of 30-Sep-2023, promoters held 0.22 per cent stake in the company, while FIIs held 35.0 per cent and domestic institutional investors had 30.09 per cent.

The Relative Strength Index of the stock stood at 40.1 on Thursday.