“The stock had made a double top around Rs 815 in the month of April this year and fell sharply by about 25 per cent to reach towards Rs 615 by mid-June,” Rupak De, Senior Research Analyst at LKP Securities, said.
Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and
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