Goodwill Investors’ Education initiative!Goodwill’s Eagle Eyes!.
Stock Market LIVE: Nifty tanks 250 pts, Sensex around 58k; Rupee below 80/dollar
Fed’s rate hike pledge to subdue the market : Indices sink in early trading as Fed Chairman Powell pledged to hike rates in an effort to control inflation. Sensex is trading at around 58,000 and Nifty at 17,300. Most indices are in red but FMCG is somewhat stable.
Rs3 to ₹2535: Tata stock turns ₹1 lakh to ₹169 crore in 20 years
A long term stock investor not just gains from the rise in the share price of its portfolio stock. There are various other means of income for a shareholders that helps its money grow even when the stock is not ascending. Announcement of interim dividend, bonus shares and buyback of shares, etc., are such additional means that help a long term stock investors money to grow. However, if the stock grows along with these means, then it becomes an icing on the cake for a stock investors. Titan Company shares are one such stock that has given stellar return to its shareholders and at the same time it has announced bonus shares and stock split as well. Titan shares are one of the multibagger stocks that Indian stock market has delivered in last few years.
Gold prices in India today fall to lowest in over a month, silver rates tumble
Gold and silver fell sharply in India today after Fed chairman last week indicated high interest rates will continue for some time to curb inflation. On MCX, gold futures fell to one-month low when they dived 0.5% to ₹50,970 per 10 gram. Silver futures tumbled 1.3$ to ₹54063 per kg. On Friday, the yellow metal had tumbled nearly ₹500 in tandem with a fall in international rates.
Oil climbs on OPEC supply cut prospect, demand growth
Oil prices rose 1% on Monday, as expectations OPEC will cut output if needed to support prices, conflict in Libya, and rising demand amid soaring natural gas prices in Europe helped offset a dire outlook for growth in the United States.
U.S. West Texas Intermediate (WTI) crude futures jumped $1.09, or 1.2%, to $94.15 a barrel at 0241 GMT, adding to a 2.5% gain last week.
Brent crude futures rose 89 cents, or 0.9%, to $101.88 a barrel, extending a 4.4% gain last week.
One share now ₹50,000. Multibagger stock hits new milestone!!!
Shares of Page Industries rallied to hit the ₹50,000 apiece mark for the first time as the stock surged to life time level of ₹50,338 per share on the BSE in Friday’s early deals after the apparel manufacturer reported a multi-fold jump in the first quarter net profit.
Page Industries Ltd on Thursday reported a multi-fold increase in its net profit to ₹207 crore for the first quarter ended June 2022 as compared to ₹10.9 crore during the April-June period a year ago. Its revenue from operations during the quarter under review was ₹1,341 crore, up over two-fold compared to a lower base of the pandemic-impacted Q1 FY22.
“From a medium-to-long term perspective, we believe Page does have (operating) margin expansion potential with Page’s EBITDA margins having remained in the narrow range of 18-21% for the last 10+ years. We believe Page has front-ended investments in new avenues,” said brokerage firm ICICI Securities while maintaining Add rating on Page Industries shares with a target price of ₹52,000.
Page Industries Q1FY23 topline was a healthy beat to street estimates, as per Axis Securities as revenue was led by strong volume growth. The company’s gross margins were below expectations on account of higher inflation in cotton and packing materials.
“PAGE saw increased momentum in sales across all its product categories driven by portfolio enhancement and distribution expansion. Total MBO coverage is now at 113,715 and the EBO network stands at 1,144 in Q1FY22. All channels and supply chains are back to normal and expect a continued robust demand outlook in FY23,” said Axis Securities with Hold rating on the stock and target price of ₹51,900.
Page Industries is involved in manufacturing and retailing innerwear, and has the exclusive licensee of Jockey International in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE. It is also the exclusive licensee of Speedo International for the Indian market. The multibagger stock has rallied more than 18110% in 15 years since its listing in March 2007 when it was trading around ₹270 per share level.