Sumit Poddar, from Tikona Capital, discusses the market correction and predicts a better economic outlook in the upcoming 6-12 months. He highlights the benefits of interest rate cuts and government spending, emphasizing small- and mid-cap stocks, and public sector banks as promising areas for investment.
Adani Green Energy shares rose 3% to Rs 946 in Thursdays intraday trade after the company announced its decision to withdraw from two proposed wind power projects in Sri Lanka. The move follows the Sri Lankan government's request for lower tariffs, easing concerns over the projects' viability. The wind power projects were estimated to cost $1 billion.
P N Gadgil shares surged 10% in intraday trade, hitting Rs 621.05 on the BSE, following the companys quarterly results post-listing. The firm reported a 49.4% YoY growth in profit after tax (PAT) for Q3FY25, with PAT reaching Rs 86.03 crore for the quarter ending December 2024, compared to Rs 57.60 crore in the same period last year.
SAIL's shares rose 10% after reporting a 5% YoY rise in Q3FY25 revenue to Rs 24,490 crore. However, net profit fell 66%, and PAT dropped significantly both YoY and sequentially. Despite weak realizations, the companys cost management was strong. Motilal Oswal maintains a 'Neutral' rating with a revised target price of Rs 115.
