Latest Stock Market News

A total of 35,195 shares changed hands on the counter till 01:24PM (IST).

The stock traded at a P/E multiple of 65.39, while the price-to-book value ratio stood at 7.49.

Hindustan Copper, incorporated in the year 1967, has a market cap of Rs 8,413.88 crore. Presently, the promoter group held a 66.14 per cent stake in the company as of March 31, 2022.

The continent-wide STOXX 600 index was up 0.7%, as of 0716 GMT, mirroring a sharp rebound on Wall Street late last week on easing concerns about persistently high inflation.Oil & gas and mining stocks gained 1.5% and 3%, respectively, as commodities rebounded from recent losses on growing fears about a global recession.

The stock quoted a 52-week high price of Rs 724.5 and a 52-week low of Rs 430.0.

The company reported a 166 per cent YoY jump in net profit at Rs 728.77 crore for the quarter compared with Rs 273.84 crore in the corresponding quarter last year. The average target price on this stock has fallen to Rs 245 from Rs 255 recently, which suggests a 150 per cent potential upside on the counter.

Whirlpool of India Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 19471.65 Crore) operating in Consumer Durables sector.

BofA Securities initiated its coverage on the recently listed logistics service firm Delhivery with a buy rating and a target price of Rs 630, saying the company is in a sweet spot. "The company is uniquely positioned to gain shares and extract synergies. It is on track for breakeven EBITDA and free-cash-flow," it said.

On the technical charts, the RSI of the stock stood at 49.17.

ICICI Bank is not only well poised to leverage on growth pickup in Indian bank credit from 8-9 per cent to 12 per cent and the ramp-up of SME vertical, but also from the recent correction, coupled with high ROA, said the brokerage firm.