Coforge: This IT services company’s promoter has resumed decreasing its stake, inviting foreign institutional investors. On August 4, private equity firm Baring Asia, pared a 5.5% stake in the company for Rs 1,590 crore. This invited Nomura India to purchase 3.5 lakh shares for Rs 160 crore. Since October 2020, the promoter lowered its stake in Coforge by nearly 17%. In that time, the stock has doubled.

Larsen & Toubro: This infrastructure company’s stock is up by 10% in one month. In that time, the company announced a 61% growth in Q1FY22 standalone revenues and a 2.6X jump in net profits. Even after the rise, L&T’s valuations remain cheap. Its current price-to-earnings (PE) ratio is 18.2, compared to an average PE of 23.8, placing it in the buy zone.

Britannia Industries: This biscuit maker’s stock is lifted by the rising index despite a poor show in Q1FY22. Britannia’s stock gained 2% in the past month, but trades lower than the Nifty50’s gain of 4% in that time. The street expected packaged food companies to perform well amid the lockdown in Q1FY22. However, Britannia underwhelmed with a 2% YoY fall in revenues and a 28% fall in net profits in Q1FY22.

Kajaria Ceramics: Brokers were pleased with this tile maker’s Q1FY22 results, and expect a greater upside in FY22. The company’s revenues doubled on a YoY basis with net profits of Rs 47 crore (against losses of Rs 27 crore in Q1FY21). This was backed by strong demand since lockdowns eased June leading to a 95% capacity utilisation at its factories. Three brokerages - HDFC Securities, BOB Capital Markets, and ICICI Direct upgraded their target price on the company’s stock. The average broker target price is at an upside of 10%.

Godrej Consumer Products (GCPL): Big changes are afoot at the helm of this FMCG company. On August 4, the company’s chief financial officer and company secretary V. Srinivasan stepped down from his position to pursue opportunities outside the company. The company also announced that Adi Godrej, the chairman of the Godrej Group, will step down from GCPL’s board next month. In May, GCPL announced that Sudhir Sitapati, Hindustan Unilever’s head of foods and refreshments, would take over as the Managing Director and CEO of the company from October. This pushed its stock price up by 24% in one week.