Shares of Asian Paints shed 3% in intraday trade to Rs 2,912.15 in early trade after analysts reduced their target prices following the paintmaker’s Q2 miss.
Analysts expected the high material cost inflation to impact margins adversely in the near term, while also deeming the valuations expensive
Of the 41 analysts tracking the company, 19 maintained ‘buy’, eight maintained ‘hold’ and 14 maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 4.1%
Indian Energy Exchange Jumps After Reporting Strong Q2 Numbers; Trading Volume Surges
Shares of Indian Energy Exchange Ltd. rose 10% to Rs 833.7 apiece after the company reported growth in net income and revenue in the September quarter, post market hours Thursday.
Indian Energy Exchange Q2FY22 (Consolidated, YoY)
- Revenue up 56% at Rs 110.37 crore Vs Rs 70.91 crore
- Net profit up 75% at Rs 77.72 crore Vs Rs 44.33 crore
- Ebitda up 71% at Rs 95.03 crore Vs Rs 55.44 crore
- Margin at 86.1% Vs 78.2%
- Recommended the bonus issue of equity shares in the proportion of two shares of Re 1 each for every one share of Re 1 each.
Of the 15 analysts tracking the company, eight maintained ‘buy’, five maintained ‘hold’ and two maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 28.7%. Trading volume on the stock was 3.1 times the 30-day average volume, for this time of the day.