US Stock Reports, Quotes and News
Shares of the PSU stock Bharat Dynamics Limited (BDL) have witnessed a remarkable surge, increasing by a little over 46% in the past six days. On Tuesday, the stock rose by 10% on the BSE, reaching a new all-time high of Rs 2,689. This surge in share price comes as the company approaches its record date for a 1:2 stock split, scheduled for May 24th.
Hemang Jani foresees significant opportunities in defence, real estate sectors, and potential comebacks in Tata Motors and Biocon. Strategic tie-ups, loan growth, and M&A activities are key factors influencing stock re-ratings. Among defence stocks, \”Bharat Electronics and HAL are the two names that we should have as part of the core portfolio and these companies can give a 16% to 20% kind of CAGR over the next two to three years.\”
For the full financial year, the profit after tax (PAT) jumped to Rs 910 crore, a 79% uptick over Rs 508 crore reported in the year-ago period. The consolidated revenue from operations stood at Rs 4,164 crore, a 15% YoY gain over Rs 3,629 crore reported in the year-ago period.
Bharat Forge hit its all-time high levels with sharp volumes. The overall trend is positive and strong. On the upside, it has broken out of 2 resistance zones on intraday charts on Wednesday suggesting it could touch 1,451-1,517 levels in the near future. The support levels remain below 1,211 levels.
Of the 25 public sector undertakings (PSUs) that published their shareholding for the March quarter, 11 saw a decline in mutual fund holdings, while only three stocks saw an increase in stakes.