Posted by New Delhi: India Infoline Limited (IIFL) recommended investors to buy shares of Power Grid, Ircon and Concor on April 25, 2024 (Thursday) to earn short-term profits. The brokerage firm shared the target price and Stop Loss for all the three mentioned stocks.
Power Grid share price target
IIFL suggested Power Grid shares to be bought today at Rs 290 with a target price of Rs 296 and Rs 302. The firm recommended a Stop Loss of Rs 284. The Power Grid share price closed at Rs 290.10 on April 24, 2024.
Power Grid q3 Results of 2023-24
Power Grid reported 10 per cent jump in its consolidated net profit at Rs 4,028 crore in the December quarter. The state-owned Power Grid Corporation’s total income increased to Rs 11,819.70 crore, while the board of directors approved the payment of second interim dividend of Rs 4.50 per equity share of Rs 10 each for 2023-24.
Ircon share price target
The brokerage firm backed the Railway PSU stock saying Ircon shares can be bought at Rs 241 a piece. IIFL recommended a target price of Rs 252 and Rs 262 and advised to maintain the Stop Loss at Rs 229. The Ircon share price closed at Rs 243.30 on April 24, 2024.
Ircon Q3 Results
IRCON International declared its Q3 Results of 2023-24 and recorded a 28.8 percent on-year rise in its consolidated net profit. The consolidated revenue from operations increased 22.9 percent. The EBITDA margin stood at 12.6 percent for the quarter ended December 2023.
Concor share price target
IIFL recommended buying Container Corporation of India (Concor) shares at Rs 973 a piece with target price of Rs 995 and Rs 1012. It gave a Stop Loss of Rs 949. The Concor share price closed at Rs 972 on April 24, 2024.
Concor Q3 Results
Concor reported a jump of 9.5 percent in its consolidated net profit to Rs 333.67 crore. According to the financial results declared by the public sector company, the profit after tax (PAT) fell in the third quarter. The December quarter witnessed a surge in revenues of 10.3 per cent year-on-year (YoY) to Rs 2,210.57 crore.
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