Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
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Bumper listing: IRCTC debuts with 101% premium at Rs 644/share
IRCTC listing best D-St debut in 2 years
Indian Railway Catering and Tourism Corporation (IRCTC) had a stellar start on October 14 as it listed at Rs 644 on the BSE, a 101.25 percent premium over its issue price of Rs 320 per share.
In fact, the opening price was much higher than what the street had expected and grey market had suggested. Analysts who spoke to Moneycontrol had expected it to list at around Rs 500-530 per share and the grey market premium was around 65 percent over the IPO price.
On the National Stock Exchange, the stock listed at Rs 626, up 95.6 percent over the issue price.
https://www.moneycontrol.com/news/b...644-rallies-115-over-issue-price-4529711.html
IRCTC listing best D-St debut in 2 years
Indian Railway Catering and Tourism Corporation (IRCTC) had a stellar start on October 14 as it listed at Rs 644 on the BSE, a 101.25 percent premium over its issue price of Rs 320 per share.
In fact, the opening price was much higher than what the street had expected and grey market had suggested. Analysts who spoke to Moneycontrol had expected it to list at around Rs 500-530 per share and the grey market premium was around 65 percent over the IPO price.
On the National Stock Exchange, the stock listed at Rs 626, up 95.6 percent over the issue price.
https://www.moneycontrol.com/news/b...644-rallies-115-over-issue-price-4529711.html
Avenue Supermarts falls 2% post Q2 nos; Citi maintains sell, cuts target to Rs 1,255/share
Morgan Stanley said it remains underweight on Avenue Supermarts with a target of Rs 1,120 per share. Credit Suisse maintained its neutral call on the stock due to stretched valuations and retained its target of Rs 1,850 per share
D-Mart operator, Avenue Supermarts has posted a 47.54 percent year-on-year jump in its net profit at Rs 322.63 crore for the quarter-ended September. Revenue increased 22.26 percent to Rs 5,998.90 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 32.3 percent to Rs 515.4 crore and EBITDA margin was up 8.66 percent.
After its results, Morgan Stanley said it remains underweight on Avenue Supermarts with a target of Rs 1,120 per share. The foreign brokerage said the Q2 numbers were an all-round miss.
Credit Suisse maintained its neutral call on the stock due to stretched valuations and retained its target of Rs 1,850 per share. It continue to remain positive on the long-term prospects of the company
Citi has maintained its sell rating on the counter and cut its target price to Rs 1,255 from Rs 1,550 per share. "The Q2 numbers were below estimates as revenue per square feet contracts, while business upsides appear priced in. The FY20/21 EPS estimates were raised by 13-14 percent to incorporate the corporate tax cut and we see no room for error on store expansion and operating metrics," it stated.
Prabhudas Lilladher has a reduce rating on the stock with a target of Rs 1,647 per share. Absolute returns look unlikely in the near term after the 48 percent surge in the stock in the last five months, it said. However, it was quick to add that sustained growth momentum could provide 20-25 percent returns over the next 2-2.5 years.
https://www.moneycontrol.com/news/b...tains-sell-cut-target-to-rs-1255-4529461.html
Morgan Stanley said it remains underweight on Avenue Supermarts with a target of Rs 1,120 per share. Credit Suisse maintained its neutral call on the stock due to stretched valuations and retained its target of Rs 1,850 per share
D-Mart operator, Avenue Supermarts has posted a 47.54 percent year-on-year jump in its net profit at Rs 322.63 crore for the quarter-ended September. Revenue increased 22.26 percent to Rs 5,998.90 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 32.3 percent to Rs 515.4 crore and EBITDA margin was up 8.66 percent.
After its results, Morgan Stanley said it remains underweight on Avenue Supermarts with a target of Rs 1,120 per share. The foreign brokerage said the Q2 numbers were an all-round miss.
Credit Suisse maintained its neutral call on the stock due to stretched valuations and retained its target of Rs 1,850 per share. It continue to remain positive on the long-term prospects of the company
Citi has maintained its sell rating on the counter and cut its target price to Rs 1,255 from Rs 1,550 per share. "The Q2 numbers were below estimates as revenue per square feet contracts, while business upsides appear priced in. The FY20/21 EPS estimates were raised by 13-14 percent to incorporate the corporate tax cut and we see no room for error on store expansion and operating metrics," it stated.
Prabhudas Lilladher has a reduce rating on the stock with a target of Rs 1,647 per share. Absolute returns look unlikely in the near term after the 48 percent surge in the stock in the last five months, it said. However, it was quick to add that sustained growth momentum could provide 20-25 percent returns over the next 2-2.5 years.
https://www.moneycontrol.com/news/b...tains-sell-cut-target-to-rs-1255-4529461.html
On a lighter note, many Investors seem to have come to a conclusion that selling tea and pakodas in railways to be the most promising business in the country as compared to all other businesses like making cars, building roads, homes, banks, pharma and software. One tea seller on a railway platform becomes the prime minister, imagine the tea and pakoda selling business of railways is now corporatised and sold to public. Yea looks like it will certainly do well.
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