Macquarie was the first broker to publish a coverage report on
, but its price target of Rs 1,200 set the tone for action on the very day it debuted. In another update, he lowered his target to Rs 900, just months after the fintech major signed up.
The stock has now reached new lows, falling to 1,152 rupees. It plunged about 6% on Monday after the update. Meanwhile, Paytm reiterated that its lending business is booming.
Interestingly, it’s not just Paytm, but PB Fintech, which runs Policybazaar and Zomato, has also seen a downtrend.
It looks like there is no stopping for Greaves Cotton. The stock has been on an upward trajectory since reports said it doubled sales of electric vehicles in December, boosting its fortunes.
Greaves Cotton had acquired electric mobility startup Ampere, among others, which helped strengthen its profile as a major player in electric vehicles. The company has also doubled its efforts to increase production.
The stock jumped 20% on Monday, bringing its year-to-date gains to 51%. The counter shit the most bullish analyst projected by analysts.
Real estate companies have continued to report numbers that any industry will kill for, increasing the already strong demand for real estate stocks. Monday was the turn of
Realty to monopolize the limelight.
The company announced pre-sales of Rs 352 crore at T3FY22, up 29% on QoQ basis and from Rs 800 crore in 9MFY22, up 23% on year basis. Likewise, collections were Rs 270 crore in the third quarter, up 30% on a QoQ basis and to Rs 649 crore in FY 22, up 41% on a year-over-year basis.
Following the update, shares of Sunteck Realty rebounded 13%. In the past six months, the stock has risen 65%.