Linde India Ltd‘s stock opened at Rs 7,405 on Thursday, against a closing price of Rs 7,202.15. Then it surpassed 7600 rupees.
The company stated that it had signed an agreement for the sale of its plant together with TATA STEEL. It has ratified the purchase of oil and gas production facilities in the state of Kalinganagar Phase 2 of Odisha.
Cholamandalam Investment Share
A buy opinion has been given on Cholamandalam Investment & Finance Company Ltd’s stock. On Thursday, the company’s stock opened at Rs 1,487.30 against a closing price of Rs 1,487.30.
After this, the stock crossed Rs 1,540. A report came on Thursday morning. The report has given a target of Rs 1786 on the stock.
The report states that the company’s market share is increasing. There is also growth in the commercial retail space. Good growth is expected in non-vehicle business finance.
The company’s CAGR is expected to be 33 percent. This can be between FY-24 to FY27.
Sharp Fall In Max Financial Services Ltd Stock
On Thursday, the stock opened at Rs 1,150.00, against the closing price of Rs 1,133.30. After this, it fell below Rs 1,110.
On September 5, a big deal involving a share of Max Financial Services Ltd worth Rs 1,637 crore was made on the exchanges. In this big deal, about 1.5 crore shares, equivalent to a 4.3 percent stake, were exchanged.
Following this big deal, the share of Max Financial Services Ltd fell by about 2 percent to a low of Rs 1,105 on the NSE soon after the market opened.
This big deal also led to a jump in trading volumes in the counter as so far nine crore shares have been exchanged on the exchanges, which is much higher than the average 11 lakh shares in daily trading for a month. The sharp drop in margins has 2 led brokerages to give the stock a ‘hold’ rating.
One of these brokerage firms believes that Max Financial Services Ltd’s life insurance business will need a very high growth in the value of the new business (VNB) to meet its margin guidance of 25-26 percent in FY25.
The brokerage also reduced the price of this stock’s rating down from “buy’ to ‘neutral in the past month.
Quick Fact
Linde India
| Company name | Linde India |
|---|---|
| Opening price | ₹7,405 |
| Last closing price | ₹7,202.15 |
| Highest price | ₹7,600+ |
| Agreement | Sale of plant with Tata Steel |
| Purchase | Oil and gas facilities in Kalinganagar, Odisha (Phase 2) |
Cholamandalam Investment
| Company name | Cholamandalam Investment |
|---|---|
| Opening price | ₹1,487.30 |
| Last closing price | ₹1,487.30 |
| Highest price | ₹1,540+ |
| Opinion | Buy |
| Report | Goldman Sachs |
| Possible target price | ₹1,786 |
| Market share | Increasing |
| Commercial retail growth | Expected |
| Non-vehicle finance growth | Expected |
| CAGR expected | 33% (FY-24 to FY-27) |
Max Financial Services
| Company name | Max Financial Services |
|---|---|
| Opening price | ₹1,150.00 |
| Last closing price | ₹1,133.30 |
| Lowest price | ₹1,105 |
| Big deal | Share transaction worth ₹1,637 crore |
| Shares exchanged | 1.5 crore (4.3% stake) |
| Trading volume | 9 crore shares |
| Average trading volume | 11 lakh shares (monthly) |
| Rating | Hold |
| Price rating change | From Buy to Neutral |
| VNB growth needed | Very high for margin guidance of 25-26% (FY25) |
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