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The sharp fall in the net profit was due to higher costs and weak profitability. The cement major’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter dropped more than 31% YoY to Rs 1,866.64 crore. Operating margin shrunk by a whopping 914 basis points to 13.4%.

The Relative Strength Index of the stock stood at 51.85 on Wednesday.

“Last year, Tata Sturbucks closed at a growth rate of around 76%. Our Q1 results saw a growth of 100 plus percent. So footfall has been sequential growth quarter on quarter. We have grown quite a bit in terms of the numbers post Covid. In terms of the average ticket size, growth has come on the back of multiple innovations that we have done.”

The stock quoted a 52-week high price of Rs 2916.85 and low of Rs 1988.6.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 37.27 per cent and 32.58 per cent, respectively.

While the overall outlook for cigarette business remains positive, analysts and investors will look for management’s view on the growth in agricultural, paper and packaging and hotel businesses in the coming quarters.

“Aegis Logistics is looking very attractive on the charts. It is heading towards a classical pennant formation more formed on the monthly timeframe. Once the breakout happens and whenever it happens for the stock price above the Rs 305-310 mark, that could be a big breakout of almost 20% further from those levels. ”

While the market will be shut for normal trading to mark Diwali, the special trading window will be open for just one hour in the evening. BSE said that the pre-opening session will be conducted from 6 pm-6.15 pm while the Lakshmi Poojan will be held at 3:30 pm at the bourse.

The stock traded at a P/E multiple of 373.86, while the price-to-book value ratio stood at 38.05.

Led by price hikes and growth in volumes, Asian Paints will see operating profit rise from the year-ago period and margin expanding on a YoY basis. However, there will be margin compression on a sequential basis due to adverse operating leverage.