DSIJ Mindshare

Inflation coming down, bond yields falling, lower interest rates, robust GST collection, and improved direct tax collection, all indicating improved corporate earnings growth and in turn market returns, asserts Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited

The broader market sentiment seemed positive, with approximately 1454 stocks advancing compared to 419 stocks declining.

In the current financial year, the company announced bonus shares in the ratio of 1:1 for its equity shareholders as of the record date. The ex-bonus date was April 24, 2023.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 113.98 points or 0.17 per cent.

Talking about the financials, the company have a market cap of Rs 334.39 crore with a PE of 17.60x whereas the sectoral PE is 36.60x. The stock is trading at 0.84 times its book value. Recently the company announced its quarterly results that ended June 30, 2023, where the net sales increased by 6 per cent to Rs 80.30 crore and net profit skyrocketed by 344 per cent to Rs 4.41 crore in Q1FY24 compared to Q1FY23.