Brokerages were split on the earnings report. Choice Institutional Equities termed the results weaker than expectations, whereas Nirmal Bang Institutional Equities said the performance was in line with its projections.
Axis said despite these challenges, Shree Cement's premium brands like Roofon Plus and Bangur Magna have shown strong market traction, contributing to a double-digit growth in trade sales volume.
On Tuesday, the scrip touched a high of Rs 30,999.85 apiece, but soon it slipped to a low of Rs 30,239.25, down 2.4 per cent from the day’s peak and 1 per cent lower than its previous day's closing of Rs 30,620.90 apiece.
Shree Cement Q2: The company's revenue from operations fell 18 per cent (YoY) to Rs 3,727 crore from Rs 4,560 crore in the corresponding period last year. Operating profit (EBITDA) declined 32 per cent YoY to Rs 593 crore compared to Rs 870 core in Q2 FY24.
Nirmal Bang Institutional Equities has resumed coverage on TVS Motor with the 'Sell' rating, as it assigned the two-wheeler stock a target price of Rs 2,102, valuing the standalone business at 28 times June 2026 EPS - inline with its 5-year PE.
Market watchers believe that the general elections, labour shortages, severe heat waves and monsoons may result in weak demand
Analysts such as Anand Rathi see a breakout from consolidation in the shares of NHPC and the price action resembles a bullish inverse Head & Shoulder pattern.
Stocks in focus today: Cautiousness expected in the market, ahead of the Federal Reserve's policy meeting on Wednesday where a 25bps hike is expected.Bajaj Finance, Axis Bank, Tech Mahindra, Tata Consumer Products, L&T among stocks to watch on Wednesday, July 26, 2023.
Hot stocks today: Benchmark indices opened lower on Thursday. Infosys, Mazagon Dock, Reliance Industries, ITC among hot stocks on July 20, 2023.
During the survey, the I-T department verified deductions claimed by Shree Cement under section 80IA. The deductions claimed by the company are false, the report said.
Shree Cement share price: The counter's 14-day relative strength index (RSI) came at 35.79. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 64.29. It has a price-to-book (P/B) value of 4.84.





