Thursday, December 5, 2024
HomeInvestorsStocksToday, these stocks will see a strong impact. There may be a...

Today, these stocks will see a strong impact. There may be a Rise.

Stock Market Investment: US rate cuts are likely to impact the opening of the stock markets today, as gift Nifty Futures are likely to open gap-down at around the 22,148 mark. Several companies, including Tata Power, Apollo Tires, and Vodafone Idea, will announce their Q2 results today.

Net PAT of Apollo Tires was down to Rs. 297 crores, by 37 percent in the quarter ending September 2024. These numbers were due to tepid demands in the domestic markets. Raw material price hikes also contributed to the decline, and the popular tire maker reported a PAT of Rs. 474 crores in the third quarter. Apollo Tires is a leading tire manufacturing company with a robust presence in Indian and international markets. Strong fundamentals and prospects make it a good stock for long-term investments, even though demand has been weak, especially in the domestic markets.

Several market watchers, including UBS, have maintained a buy rating on Apollo Tires. The target price is set at Rs. 605, a significant 32% uptick from its previously traded price of Rs. 456. The results revealed mixed performance, even as it did not quite meet expectations, owing to factors like demand for CVs. European operations, however, saw a surge, with revenue increasing by 6% and PBIT increasing by 19%.

Other stocks to watch out for include Voda Idea and Tata Power. Vodafone Idea is gearing up for an IPO of Rs. 18,000 crores, and the company has already allotted 4.9 billion shares with a price tag of Rs. 11 per share. With this top end of the EPO band price tag, Voda Idea looks to raise over Rs. 5,400 crores.

Tata Power, on the other hand, was at Rs. 409.15, a 2.53 percent gap from the previous day’s close. The stock even saw a gap up as the markets opened for trade. Tata Power is among the top companies that is going strong with a diversified portfolio spanning power generation, transmission, and distribution. The company has strong fundamentals, making it a good stock for long-term investments.

Verdict

Both the stocks are suitable long-term investments given their strong fundamentals and growth. However, investing in Vodafone-Idea may not be a good idea as it has shown mixed performance and is uncertain. Always remember to do some research and get to know the stocks you are about to invest in better before putting in your money. Learn more about the risks and rewards, and stay safe when investing.

Stock Market Investment

Stock Market Investment
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