The markets are muted in Wednesday trade with the Nifty struggling around the 25,100 mark and the Sensex down 200 points. The broader markets too are under pressure. However, the action is very stock-specific today. Several stocks stand out with strong gains in today’s trade.
Here is a look at the top movers and shakers in trade today –
Sri Lotus Developers and Realty
The share price of Sri Lotus Developers and Realty has jumped 6% intraday. This is after leading brokerage house, Motilal Oswal initiated coverage on the stock with a Buy. They anticipate a 35% rally for the shares over the next 12 months. Motilal Oswal pointed out that Lotus, with zero debt and litigation-free status, and a margin above 40%, is well-placed for acquisitions and execution.
Cartrade Tech
The Cartrade Tech share price has rallied over 3% intra-day.Elara Securities has initiate coverage with Buy rating and a target price of RS 3,590 per share. At the current levels, they see the stock “trading at 28.4x FY28E EV/EBITDA and 39.7x FY28E P/E, leaving ample room for growth-led re-rating.” ]However, they highlighted that the key risks are “slower monetisation at OLX, execution challenges in integration, and auction cyclicality.”
Premier Energies, Waaree Energies
Key renewable energy plays like Premier Energies, Waaree Energies are buzzing in trade today. The recent GST cuts coupled with the PLI announced by the Government last quarter are expected to boost the order pipeline for the renewable plays.
Indian Bank
The share price of Indian Bank has rallied 3% inta-day. Motilal Oswal has called the bank’s asset quality as one of its strongest differentiators. The gross NPAs for the bank has moderated to 3% and the net NPA is the best-in-class at 0.2%, reflecting disciplined underwriting and robust recoveries. The management has guided that slippages will stay below 1% of loans, supported by healthy collections, digital monitoring, and continued recovery from legacy stressed assets