GRSE TARGET PRICE
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty continues its upward trajectory, displaying positive chart patterns with higher tops and bottoms. According to Nagaraj Shetti of HDFC Securities, the market's bullish momentum could propel it towards the 24,400 mark in the near term, with immediate support at 23,980 levels.
Wipro shares jump over 3% after double upgrade from CLSA
Wipro's stock witnessed a 21.2% surge in the last month, contributing to a 36.5% increase over the past year, with an 11% rise in the current calendar year.
Defence stocks rally up to 19%, Paras Defence and GRSE among top gainers
Paras Defence shares advanced 19% to hit a fresh 52-week high of Rs 1,373.80 on BSE amid a block deal of 3.29 lakh shares, while PSU defence stock GRSE was also trading around 12% higher. Mazagon Dock, Cochin Shipyard, and Astra Microwave were also trading around 5-8% higher.
FY24 threw 12 multibagger stock ideas with consistent earnings growth. Which ones to chase?
FY24 featured 12 multibagger stocks with consistent earnings growth in sectors like autos, capital goods, PSUs, power, and infra sectors. Experts shared valuable insights for investors looking to capitalize on market opportunities.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian benchmark equity indices, Sensex and Nifty50, logged record closing highs for a second straight session on Friday, driven by state-run companies and energy stocks on hopes of continued capital expenditure spending by the new government.
GRSE shares surge 20% after posting doubling Q4 profit but ICICI Securities screams sell
Shares of PSU defense company Garden Reach Shipbuilders (GRSE) experienced a significant surge of 20% on the BSE on Thursday, reaching a new all-time high of Rs 1,424.80. This surge followed the company's announcement of a remarkable 104% year-on-year (YoY) increase in its net profit to Rs 112 crore.
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Market Trading Guide: Ircon International, GRSE among 4 stock recommendations for Wednesday
Equity benchmark indices Sensex and Nifty closed higher for the third session in a row on Tuesday, following gains in telecom, tech and consumer durable shares amid a firm trend in the global markets. However, rising global crude prices and renewed foreign capital outflows amid geopolitical tensions restricted the markets' appreciation bias, traders said. After rallying over 400 points, the 30-share BSE Sensex ended 89.83 points or 0.12 per cent higher at 73,738.45. Trimming most of its early gains, the NSE Nifty ended 31.60 points or 0.14% up at 22,368. "The near-term uptrend status of Nifty remains intact and the short-term trend is choppy. Further consolidation or minor dip could be a buying opportunity. A sustainable move above 22,500 could open next upside towards 22,800 levels. Immediate support is at 22,200 levels," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Here are 4 stock recommendations for Wednesday:
Buy Garden Reach Shipbuilders & Engineers, target price Rs 1080: Prabhudas Lilladher
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 10037.62 Crore) operating in Shipping sector.
Sell Garden Reach Shipbuilders & Engineers, target price Rs 500: ICICI Securities
Garden Reach Shipbuilders & Engineers Ltd. key Products/Revenue Segments include Contract Revenue, Sale of Products, Sale of services, Scrap, Other Operating Revenue and Miscellaneous Income for the year ending 31-Mar-2023.
Buy Bharat Electronics, target price Rs 203: ICICI Securities
The brokerage believes BEL may continue receiving orders from various platforms across services. Coupled withrobust execution, they believe the company is likely to achieve our higher-than-consensus EPS of INR 5.8/INR 6.8 forFY25/26E, respectively. The brokerage maintains BUY on BEL with an unchanged TP of INR 203 based on 30x FY26E EPS.
Mutual funds miss the multibagger bus in these 5 smallcap stocks. Should you chase?
An analysis of mutual fund data shows that asset managers have been consistently reducing stake in at least 36 smallcap stocks for the last four quarters. Out of them, only six - Johnson Controls - Hitachi Air Conditioning India, GHCL, Accelya Solutions, Sterlite Technologies, Greaves Cotton and TCNS Clothing - have given negative returns in the last one year.
Two multibagger defence stocks jump over 40% in last 3 days. Here's why
In its Q1 FY24 results, GRSE reported its best-ever net profit of Rs 77 crore. The firm saw a 54% rise in net profit as compared to the Rs 50 crore it reported in the year-ago period. Meanwhile, its total income stood at Rs 827 crore in the first quarter of the current fiscal, 33% higher than Rs 621 crore in the year-ago period.
PSU defence stocks on fire! GRSE, Cochin Shipyard zoom up to 19%. Here's why
Shares of warship maker GRSE rallied 19% to hit a new 52-week high of Rs 781 on BSE after the company reported its best-ever net profit of Rs 77 crore in the June quarter. The firm saw a 54% rise in net profit as compared to the Rs 50 crore it reported in the year-ago period.
PSU defence stock tumbles 7% after post Q4 earnings
Garden Reach Shipbuilders & Engineers (GRSE) saw a 7% drop in its share price in Thursday's trading despite reporting a 17.16% increase in profit after tax (PAT) for the March quarter. GRSE's PAT increased to Rs 55.3 crore compared to Rs 47.2 crore a year ago, while revenue from operation rose by 10.68% to Rs 601.17 crore for the same period. Cmde Hari PR, IN (Retd) Chairman and MD of GRSE said the company had the "best ever" financial performance during FY 22-23, which was a credit to the team's resilience and resolve.
Buy Garden Reach Shipbuilders & Engineers, target price Rs 540: HDFC Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5296.88 Crore) operating in Shipping sector.
Reduce Garden Reach Shipbuilders & Engineers, target price Rs 385: ICICI Securities
Promoters held 74.5 per cent stake in the company as of 31-Dec-2022, while FIIs owned 2.52 per cent, DIIs 7.55 per cent.
This PSU multibagger defence stock gets an upgrade from ICICI Securities
During an investor call with the brokerage, the management said it sees benefits from the ongoing fleet expansion drive in defence and that EBITDA margin during the quarter was lower due to all the recent orders coming via competitive bidding
Reduce Garden Reach Shipbuilders & Engineers, target price Rs 385: ICICI Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 4947.50 Crore) operating in Shipping sector.
Multibagger defence stock plunges over 9% after Q3 results
GRSE posted a total income of Rs 749.38 crore in the quarter ended December 2022 as against Rs 530.86 crore during the quarter ended December 2021, recording a gain of 41%. The company's EPS stood at Rs 5.58 for Q3FY23 as compared to Rs 5.49 for the period Q3FY22.
Sell Garden Reach Shipbuilders & Engineers, target price Rs 390: ICICI Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5621.64 Crore) operating in Shipping sector.
Hot Stocks: Brokerages on Ambuja Cement, IRB Infrastructure, L&T and Garden Reach
CLSA maintained its buy call on IRB Infrastructure and L&T. The global investment bank is of the view that the government CAPEX is likely to pick up ahead of elections.
Sell Garden Reach Shipbuilders & Engineers, target price Rs 390 : ICICI Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 4881.06 Crore) operating in Shipping sector.
A breach of 18750 on Nifty50 would extend this rally towards 19000: Mehul Kothari
In addition, we are witnessing a negative divergence in daily RSI. Hence, on the downside, a break below 42,950 which is the weekly low might bring a pause to the upside momentum. In such a scenario, the index might correct towards 42,000 or more. Any short trades in the index can be considered only below 42,950.
Sell Garden Reach Shipbuilders & Engineers, target price Rs 390: ICICI Securities
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5667.46 Crore) operating in Shipping sector.
Buy Garden Reach Shipbuilders & Engineers, target price Rs 566: Axis Securities
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5328.96 Crore) operating in Shipping sector.
Up to 75% upside! This Ramesh Damani stock just received a buy call
The brokerage reiterated a buy call on GRSE with a revised target price of Rs 400 on the counter, signalling an upside potential of 75 per cent from its price of Rs 230 on Thursday, July 14."We are optimistic on India’s defence indigenization story with GRSE entering the critical ‘Bell Curve’ of the shipbuilding cycle," said the brokerage. However, it has not yet factored in the next-generation Corvette order.
Buy Garden Reach Shipbuilders & Engineers, target price Rs 255: ICICI Securities
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 2129.52 Crore) operating in Shipping sector.
Buy GRSE, target price Rs 255: ICICI Securities
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 2293.90 Crore) operating in Shipping sector.
Buy Garden Reach Shipbuilders & Engineers, target price Rs 265: Yes Securities
The brokerage believes Garden Reach’s ROE can touch its historical levels of 25 per cent+ by FY23E driven by strong execution, margins expansion of ~200bps and better profitability
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