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Gujarat Gas: This gas distribution company has been seeing strong momentum, and has drawn the attention of analysts across brokerages, with HDFC Securities, ICICI Securities and others giving the stock buy calls amid predictions of strong volume growth in the coming quarters. The stock has outperformed the Nifty50 by over 70% in the past year. Its PE is in the neutral zone compared to its historical performance.
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WABCO India: The company’s stock took a beating after its promoter—ZF International UK—announced that it will sell 18% of its stake in the company in an offer for sale. The share sale is being done to meet the minimum public shareholding requirements, but the size of the stake sale took the market by surprise. The stock ended down 7.5% at the end of trade at Rs 5,648.
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TVS Motor: The company appointed the former Jaguar Land Rover CEO Ralf Speth on its board of directors in a move that is seen as giving a boost to its global operations (Speth is set to take over as the Chairman of the company in 2023). The company’s share price fell today with a fall in delivery.
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Prestige Estates: Despite a jittery market where the Nifty50 fell 1.6% over the week, this stock has seen a week change of 10.5% and has outperformed the index by 4.5% over the past month. The real estate developer will take over Ariisto Developers’ $1.4 billion project in Central Mumbai’s Mulund suburb. It emerged as the highest bidder for the project in November 2019, but the proceedings were stuck in court and then delayed due to the pandemic.
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Polycab India: Mutual funds have been buying shares in this cable and wireless maker, which is trading near its 52-week high and is above all its SMAs. The company has entered into end-to-end passive networking for public and private organisations and has also recently set up a new subsidiary that will undertake trading and manufacturing of cables, wires, fast moving electricals and electrical goods.