Latest news with #RajeshBhosale
Mint
16 hours ago
- Business
- Mint
Ashoka Buildcon share price jumps over 5% after securing ₹1,387 crore traffic management project in Maharashtra
Ashoka Buildcon share price surged by more than 5% during Friday's trading session following the announcement that the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), had received Letters of Intent (LOIs) from the Maharashtra Motor Vehicles Department on Thursday. This agreement involves the design, implementation, operation, and maintenance of an Intelligent Traffic Management System in various regions. The project, which will last for 10 years, encompasses Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra, with an estimated total value of ₹ 1,387.19 crore. The estimated project costs according to the RFP, including GST, are as follows: Nagpur – ₹ 179.97 crore; Mumbai – ₹ 291.49 crore; Pune – ₹ 285.23 crore; Nagpur – ₹ 179.97 crore; Mumbai – ₹ 291.49 crore; Pune – ₹ 285.23 crore; Konkan & Western Maharashtra – ₹ 315.54 crore; and Marathwada – ₹ 314.96 crore. The final amount will be determined once the work order is officially issued. Konkan & Western Maharashtra – ₹ 315.54 crore. Ashoka Buildcon announced its fourth-quarter earnings on May 23, revealing a remarkable 73.2% increase in net profit, which reached ₹ 432.2 crore, up from ₹ 249.6 crore in the same quarter last year. The company reported a revenue of ₹ 2,694.4 crore for Q4, marking an 11.7% growth compared to ₹ 3,052 crore in the same period of the previous financial year. This strong performance highlights the company's successful operations and growth trajectory, as per experts. Ashoka Buildcon share price today opened at ₹ 229.85 apiece on the BSE, the stock touched an intraday high of ₹ 230.70 per share, and an intraday low of ₹ 223.65 apiece. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Ashoka Buildcon share price have seen a gap up opening, but are currently placed at 200DMSA, further positive momentum would be seen once this key average above 230 that could push prices towards 250 , on the flip side, 210 is immediate support.
Mint
2 days ago
- Business
- Mint
2400% gain in five years: Reliance Power share price delivers multibagger returns. Should you buy?
R Power share price: Shares of Reliance Power jumped 4% to touch a fresh 52-week high on Thursday's session. R Power share price surged by 5.45%, hitting a peak of ₹ 62.12 in trading on Wednesday. At that peak, the stock was only 1.08% below its one-year high of ₹ 62.80, which was recorded just a few days earlier on June 2. Reliance Power share price today opened at ₹ 60.30 apiece on the BSE, the stock touched an intraday high of ₹ 63.39 per share, and an intraday low of ₹ 59.93 apiece. R Power share price has experienced significant growth, rising more than 2,400% over the last five years. It has surged nearly 79% in just three months and approximately 51% in the past month. Recently, Reliance Power announced that its subsidiary, Reliance NU Energies, has been awarded a letter for a 350 MW solar power project, which includes a 175 MW/700 MWh Battery Energy Storage System from SJVN. When operational, this project will enhance Reliance Power's portfolio by adding 600 MW of solar DC capacity and 700 MWh of BESS capacity, thereby reaffirming its position as a leader in new energy solutions, according to a company statement. In addition, Reliance Power has established a commercial term sheet for a long-term power purchase agreement with Green Digital Pvt Ltd, which is owned by Druk Holding and Investments Ltd, the investment branch of the Royal Government of Bhutan. Reliance Power and Druk Holding and Investments Ltd (DHI) plan to jointly construct Bhutan's largest solar power project through a partnership with an equal share, targeting an installed capacity of 500 MW, as indicated by a company statement. The project will require an investment of up to ₹ 2,000 crores under a Build-Own-Operate (BOO) model, making it the largest private sector foreign direct investment (FDI) in Bhutan's solar energy field so far. In the January-March quarter of FY25, Reliance Power reported a consolidated net profit of ₹ 126 crore, attributed to reduced expenses. The company had experienced a loss of ₹ 397.56 crore during the quarter that ended on March 31, 2024, according to a regulatory filing. Total revenue fell to ₹ 2,066 crore in the most recent fourth quarter, down from ₹ 2,193.85 crore in the same quarter last year. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, R Power share price has seen massive run from the May month swing low and is at highest point in the last five years, this recent upmove has been backed with strong volumes. In near term prices may extend upmove however considering the overbought conditions, dips would be ideal to enter longs, ₹ 56 - 57 seems strong support whereas ₹ 72 as resistance.
Mint
08-05-2025
- Automotive
- Mint
350% rally in five years! Multibagger auto stock hits 20% upper circuit after ₹320 crore fundraise move
Multibagger auto stock: Pavna Industries share price touched 20% upper circuit limit during Thursday's trading session following the company's announcement of plans to raise up to ₹ 320 crores by issuing equity shares to qualified institutional buyers. 'Approved raising of funds for an aggregate amount not exceeding ₹ 320 crores through issue of Equity Shares by way of Qualified Institutions Placement (QIP), in accordance with the relevant provisions of applicable law and subject to approval of the company's shareholders and receipt of applicable regulatory approvals,' said the firm in an exchange filing. Additionally, the company announced that to facilitate the proposed issuance of equity shares, the board has formed the QIP Committee and empowered this committee to determine and undertake the essential measures, including setting the price, timing, terms, and conditions of the QIP. The company specialises in producing a diverse array of automotive parts for well-known Original Equipment Manufacturers (OEMs) according to their specifications, serving different vehicle categories like passenger cars, two-wheelers, three-wheelers, heavy and light commercial vehicles, and off-road vehicles. In addition, the company offers aftermarket sales and services, which include products it manufactures such as filters, clutch plates, bearings, wiper blades, and brake shoes. Pavna Industries share price opened at an intraday low of ₹ 320.45 apiece on the BSE, the stock touched an intraday high of ₹ 373 apiece. Over the last week, Pavna Industries share price increased by 18.97%. In the previous quarter, the stock has declined by 24.97% and has decreased by 28.30% over the past year. The stock has increased by 350% over the past 5 years, providing significant returns to its investors. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Pavna Industries share price have seen strong traction in today's session, with prices surging more than 18% in today's session backed with volume , this move can extend in near term towards ₹ 400 in near term. With support placed around ₹ 300.
Mint
05-05-2025
- Business
- Mint
Small-cap stock below ₹100: GHCL Textiles spikes 8% after Q4 results, 25% dividend payout
Small-cap stock below ₹ 100: GHCL Textiles on Monday reported a 38.5% year-on-year (YoY) rise in its net profit at ₹ 14.20 crore, while revenue from operations fell nearly 1% YoY to ₹ 283.61 crore. GHCL Textiles shares jumped nearly 8% following Q4 results announcement. The firm's operating margin was 11.3% in Q4FY25 as compared to 10.3% in the year-ago period. The company, in its filing to the exchange, reported that the board of directors has proposed a dividend of ₹ 0.50 for each equity share of ₹ 2, representing 25% of the paid-up equity capital for the fiscal year that concluded on March 31, 2025. If ratified by the members at the upcoming Annual General Meeting, the dividend will be disbursed on or after July 21, 2025. The company indicated in its exchange filing that FY25 has proven to be a robust year for GHCL Textiles. The ₹ 1,000 crores committed to investments, of which ₹ 500 crores has already been utilized, are supporting the addition of 25,000 spindles and 40 knitting machines, as well as future developments in weaving and dyed fabric. GHCL Textiles share price closed Monday's session 8% higher at ₹ 87.75 apiece on the BSE. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, GHCL Textiles share prices have picked momentum in today's session , witnessing a price and volume breakout. Along with this prices have also crossed 89DEMA and it seems prices headed towards 200DSMA placed around 95 levels. Strong support is seen in the zone of 82 - 80. Over the last week, the stock increased by 8.32%. It has declined by 2.42% in the last quarter and has risen by 6.51% over the past year.
Mint
05-05-2025
- Business
- Mint
Kotak Bank share price slumps 6% on weak Q4 results, brokerage downgrades. How to trade now?
Kotak Bank share price slumped 6% during Monday's trading session after the private bank reported a 7.57% decrease in consolidated net profit, amounting to ₹ 4,933 crore for the March quarter of FY2024-25 (FY25), largely due to increased pressure in the microlending sector. The bank's core net interest income increased by 5% to ₹ 7,284 crore in the reported quarter, while other income rose by 7% to ₹ 3,182 crore. Customer assets grew by 13%, although the net interest margin significantly narrowed to 4.97% compared to 5.28% in the same period last year. Additionally, on a consolidated basis, Kotak Mahindra Bank's total income declined to ₹ 27,174 crore from ₹ 27,907 crore in the fourth quarter of the previous fiscal year. As per media reports, brokerage firm CLSA has changed its rating on the stock to "hold" from 'underperform', while also slightly increasing its price target to ₹ 2,225 from ₹ 2,125. The firm has adjusted its profit forecasts for Kotak Mahindra Bank downward by 3% to 5% due to expectations of reduced Net Interest Income and increased Operating Expenditure (Opex). Nomura has similarly downgraded its rating on the stock to "neutral" from its former "buy" rating, though it has slightly raised its price target to ₹ 2,200 from ₹ 2,110. Nuvama has also downgraded its outlook on Kotak Mahindra Bank shares, bringing its rating down to "hold" from "buy," and increasing the price target to ₹ 2,350 from ₹ 2,040. Kotak Bank share price opened at ₹ 2,110 apiece on the BSE, the stock touched an intraday low of ₹ 2,058.35 per share, and an intraday high of ₹ 2,058.35 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Kotak Bank share price has seen a huge gap down and a follow-up selloff is seen in the morning session. 'With this, prices have slipped below 50-DEMA, and may remain under pressure in the near term. Previous swing low around ₹ 2,000 is likely to act as next support, whereas bearish gap around ₹ 2,180 is resistance,' said Bhosale. Further, Anshul Jain, Head of Research at Lakshmishree Investments, added that Kotak Bank share price rejected its all-time high of ₹ 2,247 over the last two weeks, forming a failed breakout. Post results, the stock witnessed a gap-down followed by profit booking and fresh short positions. It is currently testing its 50-day EMA at ₹ 2,070, Jain added. 'A close below this level will signal a break in the long-term uptrend, potentially triggering a deeper correction towards ₹ 1,999 and even ₹ 1,890. Sustained weakness here could invite further downside pressure,' said Jain. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 5 May 2025, 10:01 AM IST
