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HSBC has initiated coverage on Swiggy with a 'Hold' rating, while Nuvama has given a 'Buy' recommendation for Zen Tech. Goldman Sachs is optimistic about Westlife, projecting a target of ₹1,045 per share, citing menu interventions and expected same-store sales growth recovery. Citi highlights potential catalysts in the oil and gas sector, including possible GST inclusion for gas and lower CNG excise, while Jefferies notes strong returns for Indian CRO/CDMO stocks, with upcoming legislative actions likely to impact volatility.
IGL shares surged nearly 4% on December 5 after the company announced a board meeting scheduled for December 10 to consider a bonus share issue for equity shareholders. The specific bonus ratio has yet to be disclosed, but the stock reached an intraday high of Rs 374 on the NSE following the announcement.
IGL's board will meet on December 10 to consider a bonus share issue for equity shareholders, following a significant drop in share prices due to reduced APM supply. The company recently declared an interim dividend of Rs 5 per share, while both IGL and MGL shares have fallen over a third from their yearly highs after the Centre's decision to cut gas allocations to city distributors.
Mahanagar Gas has increased the price of CNG by Rs 2/kg to Rs 77/kg, effective November 22, in response to rising input costs. This adjustment follows a reduction in APM gas supply by Gail India to city gas distributors, impacting profitability. Despite a rise in shares on the announcement day, MGL's stock is down 4% year-to-date.
Hero MotoCorp, Glenmark, Adani Total Gas, IGL, Cyient, ACME, Delhivery, Crompton Greaves, and Honasa Consumer are in focus for Monday's trading session. Additionally, Godavari Biorefineries, Waaree Energies, Valecha Engineering, and Samyak International are set to release their quarterly earnings on November 18.
IGL
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Brokerage Updates Swiggy Hold Zen Tech Buy Westlife Target Set
Jefferies
MGL
Gail
Citizens, Inc.
Zen Technologies Limited
Reliance Industries Ltd
HSBC
SWIGGY LIMITED
The Goldman Sachs Group, Inc.
IGL
Westlife
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03:24 06.12.2024
IGL Shares Surge Nearly 4 Percent on Upcoming Bonus Share Proposal
05:58 05.12.2024
IGL Board to Consider Bonus Shares Amid Share Price Decline
13:58 04.12.2024
Mahanagar Gas raises CNG price to 77 per kg amid rising costs
04:45 22.11.2024
stocks to watch hero motocorp glenmark adani total gas and more
Glenmark
IGL
Cyient Limited
Adani Total Gas Limited
Hero MotoCorp Limited
Crompton Greaves Consumer Electricals Limited
ACME
Honasa Consumer Limited
Delhivery Limited
IND
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16:09 17.11.2024
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