Stocks of the day: Amidst fluctuations, the market is under pressure for the ninth consecutive day on February 17. Nifty has slipped more than 100 points and has come below 22800. Bank Nifty is also showing weakness. The recovery attempt in midcap and smallcap has failed. Fear index INDIA VIX has jumped more than 7 percent. The bumper booking of M&M's electric SUV, XEV 9e and BE 6 has also not been able to fill enthusiasm in M&M. This stock is seeing a decline of about 4 percent. This stock is among the top losers of futures today. However, brokerage is bullish on this stock. Nomura and Citi have given a target of about Rs 3700 for this.
Today, strong action is being seen in GSK Pharma. This stock has jumped 20 percent today and has become the Hero of the Day. In the third quarter, the company's profit has increased by 35 percent and revenue by 18 percent. Margin has also increased by 3 percent. On the other hand, weakness is being seen in Samvardhan Madrasan. On NSE, this stock is currently trading around Rs 123 with a weakness of Rs 3.26 i.e. 2.58 percent. Its lowest level today is Rs 121.08.
If we look at GSK Pharma, this stock is in a strong uptrend. Currently, the stock is in the upper circuit at Rs 2421.60 with a gain of Rs 403.60 or 20 per cent. The stock is in a strong uptrend after the third quarter results. The company's profit has increased by 35 per cent year-on-year and revenue by 18 per cent. At the same time, the margin has increased from 27.1 per cent to 30.7 per cent year-on-year. The performance of all segments has been better. Margins have improved due to reduction in cost. The volume of the company's general medicine segment has increased by 11 per cent. The company's management expects the current margin to remain intact. Two oncology brands Zejula and Jemperli will be commercialized in the first half of FY 2026. Earlier this commercialization was expected to happen in FY 2025.
Mahindra & Mahindra
The company has released booking updates for the recently launched EVs. 30,179 bookings were made for eSUVs (XEV 9e and BE 6) on the first day. The total booking value was Rs 8,472 crore (ex-showroom price). The average ex-showroom price per vehicle is Rs 28 lakh. XEV 9e has 56 percent of the total bookings and BE 6 has 44 percent. The share of the 3 top-end models in the total bookings is 73 percent. Their delivery will start from next month. The first day's bookings are equal to 6 months' sales. M&M has said that the initial production capacity of these vehicles is 5,000 units per month.
Samvardhan Motherson
Weakness is being seen in Samvardhan Madrasan today. Giving this stock an Overweight rating, JP Morgan has reduced the target of the stock to Rs 160 per share. The brokerage says that the company's third quarter results were as per estimates. JP Morgan has reduced the stock's FY25-27 EPS estimate by 8-11 percent. There is a soft outlook for auto in the short term due to delay in OEM launches.
Talking about other brokerages, CLSA has given an Outperform rating to Samvardhan Madrasan and has given a target of Rs 167 per share. At the same time, Jefferies has given a Buy rating to the stock and has given a target of Rs 165. Whereas, Motilal Oswal has given a Buy rating and has given a target of Rs 160. BOFA SEC has also given a Buy rating to this stock and has given a target of Rs 160. At the same time, NOMURA has given a Buy rating to it and has given a target of Rs 155.
Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for it. Moneycontrol advises users to seek advice from certified experts before taking any investment decision.
