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In the overseas market, both gold and silver were trading lower at USD 1,821 per ounce and USD 21.29 per ounce, respectively

“While we won’t really call them green shoots, pockets of growth are quite visible as far as banking or infrastructure or IT numbers are concerned. The numbers were not as disappointing as they were being envisaged as. Of course, one needs to be worried of volatility in raw material costs.”

Nonetheless, the commentary of little tolerance for underperformance has enthused investors, expecting an improvement in the company’s fortunes, it added

Fresh projects announced in the April-December period grew by a sharp 53% YoY, led by manufacturing, electricity, and infrastructure, Emkay Global Financial Services said in its report. These segments saw growth of 51-64% YoY growth in order wins

“If you are not making money in the OEMs and are more into the consolidating phase, how can you make money? You need to go one step back, look at the B2B companies which are providing materials to all of these suppliers. All of these cement manufacturers and that is where you can make money. For example, AIA Engineering is one stock we have been tracking.”

On the technical charts, the RSI of the stock stood at 39.61.

A total of 13,569 shares changed hands on the counter till 02:09PM (IST).

The stock traded at a P/E multiple of 78.27, while the price-to-book value ratio stood at 7.87.

FMCG major Nestle India on Thursday posted a 66% year-on-year (YoY) rise in net profit at Rs 628 crore for the fourth quarter ended December 2022.

Adani Green shares were up 3% on Friday, after losing nearly 70% since a Jan. 24 report by U.S. short seller Hindenburg Research. Adani Power climbed 5%, while Adani Ports and Special Economic Zone was marginally higher