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Birlasoft: This smallcap IT services company’s stock has been on a rising trend for the past week, rising by over 21% in the period and ending at its 52-week high of Rs 376.75 rupees. On Tuesday, the stock rose nearly 10% on news that it inked a deal with a company called Regulativ.ai to co-develop cyber security assessment tools for banking, financial services and insurance customers. With the share price on an upward trend since the beginning of the calendar year, the company's PE is currently in the sell zone.
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Bharat Forge: This forging company posted strong Q4FY21 earnings including a profit at the consolidated level for the first time in five quarters. Analysts at HDFC Securities and ICICIDirect are upbeat about the prospects of this company’s defence and class-8 trucks business. Growth in the latter segment however hinges on a spurt in infrastructure spending in the US and the success of US President Biden's infrastructure bill.
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Greaves Cotton: This engineering company’s stock traded with the highest volumes on Tuesday compared to the past week. This stock saw the highest change in volumes on Tuesday among the Nifty 500 companies at four times its weekly average as 1.02 crore shares exchanged hands.
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Federal Bank: This private bank’s stock saw seven brokerages increase their target price over the past three weeks after the bank posted its best ever quarterly net profit. The stock has an average target price of Rs 94.20, which is an upside of 9.25% over its current market price.
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PNB Housing: This mortgage lender’s stock price doubled after it announced that it will raise Rs 4,000 crore by selling shares to a group of investors, including an affiliate of private equity firm Carlyle. Carlyle’s stake buy triggered an open offer which will lead to its promoter Punjab National Bank’s (PNB) stake falling below 26%. But the shareholders’ meeting on June 22 to approve the deal might not be smooth sailing as minority investors and a proxy advisory firm have flagged valuation concerns and the fall in PNB's stake.