INSUBCONTINENT EXCLUSIVE:
The BSE MidCap index gained 3.6% in July after falling nearly 16% between the time the index hit a record high in January and June 30
There are some stocks which have gained significantly with valuations turning attractive after the sharp correction in the last few months
ET takes a look at five stocks which outperformed during the month and whose outlook looks bright going ahead:
LT FINANCE HOLDINGSCMP (Rs):
result for the quarter ended June and declared its provisioning journey to be complete by allocating additional funds towards stressed
The company reported 71% growth in net profit at Rs538 crore for the June quarter
Citigroup in a recent note said it the stock attractive at 2.5 times FY20 estimated price to adjusted book value for a likely return on
19.13
Havells has also outperformed owing to its strong earnings growth in the June quarter
The company posted a 73.3% year-on-year increase in its June quarter standalone net profit to Rs210.4 crore
expanding product portfolio along with dealer-focused strategies, HAVL (Havells) is poised to grow better than market, once it gathers
spend uptick over the medium term.
CANARA BANKCMP (Rs): 284.45
Last 1-month Change (%): 14.40
Canara Bank also came on the buy radar of
investors on the back of strong numbers for the June quarter
The company reported 12% year-on-year rise in net profit at Rs281.5 crore in the first quarter
performance and benefits from strong recoveries
PHARMACEUTICALSCMP (Rs): 3,178.55
Last 1-month Change (%): 12.83
A 235% year-on-year increase in net profit to Rs88.59 crore for the quarter
ended June has helped GSK Pharma surge in the month of July
However, Motilal Oswal sees limited upside in the stock from current levels
The brokerage said GSK Pharma has strong parent company support, superior brand portfolio, high payout ratio and industry-leading return
However, the stock trades at 51 times FY19 estimated earnings and 45 times FY20 estimated earnings, which is at a huge premium to the
have gained in the last one month as HDFC AMC came out with an IPO which was at a premium valuation to where Nippon was trading at and its
quarterly performance was also good, said Gaurav Dua, Head of Research at BNP Paribas-owned Sharekhan.
