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The brokerage believes it deserves rich valuations due to its strong competitive positioning, top decile capital efficiencies, and it being a beneficiary of EVs and other mega trends in Autos.

As of 31-Dec-2022, promoters held 43.92 per cent stake in the company, while FIIs held 15.17 per cent and domestic institutional investors had 2.47 per cent.

GlaxoSmithKline Pharmaceuticals, incorporated in the year 1924, is a Large Cap company (having a market cap of Rs 21043.62 Crore) operating in Pharmaceuticals sector.

The stock quoted a 52-week high price of Rs 1509.25 and a 52-week low of Rs 1002.5.

“We have a positive view on the capital goods space. This is one sector which has remained strong even amidst the volatility that we have seen in the last few months and names like L&T, Siemens would continue to do well. Apart from that, the midcap capital goods companies also would remain in focus.”

The brokerage expects a 13% sequential growth in the topline to Rs 1,871 crore, led by a 4% growth in food delivery business gross merchandise value, and contribution from Blinkit business.

Veeral Organics (a wholly owned subsidiary of VO) is also set to commence production of MEHQ, Guaiacol, and Iso Amylene in 1HFY24, which should propel VO into the next leg of its growth story.

A total of 41,986 shares changed hands on the counter till 11:12AM (IST)

Dalmia Bharat key Products/Revenue Segments include Income From Management Services for the year ending 31-Mar-2022.