JK Lakshmi Cement: This cement manufacturing company’s stock is up by 24% in one month, going past a two-year high. Its valuation remains historically cheap as its trailing 12-month (TTM) price to earnings (PE) ratio is 13.2 times, below the median PE of 45.4 times. This puts it in the potential buy zone.
Mahindra & Mahindra: This automobile manufacturer reported a 41% YoY increase in the sales of passenger vehicles in February 2021, and a 25% YoY rise in tractor sales. In January 2021, it announced a price hike in its PVs and commercial vehicles (CVs). Even with the price rise and higher sales, its stock is down by 12% in one month.
Amara Raja Batteries: Brokers are bearish on this auto-parts and equipment manufacturer’s stock. Two brokerages - ICICI Securities and Motilal Oswal have given a recommendation of ‘Reduce’ and ‘Neutral’ respectively. The brokerages expect the rise of electric vehicles to eat away the company’s lead-acid business. The average broker target price is at a downside of 3% against the market price despite a decline of 8.8% in one month.
Axis Bank: This private sector lender’s promoter Life Insurance Corporation of India (LIC) which holds an 8.5% stake is decreasing its holding. Last week, LIC sold 16.2 lakh shares for Rs 125.5 crore via a market sale.
Godrej Agrovet: This agricultural company’s promoters are buying the company’s shares via market purchases. Last week alone, the promoters purchased over 77,000 shares for Rs 3.7 crore via six market purchases. In 2021, the promoters have purchased 1.5 lakh shares worth Rs 7.6 crore.