DSIJ Mindshare

Godfrey Phillips: Income Tax Department had searched the office premises of Godfrey Phillips India from February 3 to February 7, 2021 in connection with a search carried out on a promoter of the company under Section 132 of Income Tax Act, 1961. The company has extended full cooperation to the authorities and will participate in any proceedings, if required.

Nifty has witnessed a parabolic rise of almost 10 per cent from the lows of 13,661.75 and the index has almost doubled from the March lows; however, after such a mammoth run-up, the index might enter into a consolidation phase just like any sprinter, who after a quick run, stands for a few moments to catch his breath.

The proposed Capex will increase the manufacturing capability of Quartz kitchen sink to 7,00,000 units per annum. The purpose of the expansion is to meet the increasing demand of Quartz kitchen sink in the international and the domestic market. A few of the notable marquee investors include Sunil Singhania (Abakkus Fund), Ashish Kacholia, and Varun Daga, who hold 6.45 per cent, 4.14 per cent, and 2.65 per cent, respectively in this stock.   

As an established player of significant scale, the company is set to benefit from various tailwinds in the Indian market. The medical devices export from India outpaces global market growth with a 5-year CAGR of 13 per cent as against global industry growth of 5 per cent mentioned in the investors' presentation of the company.  What is more exciting about this stock apart from the surge in total traded quantity is the delivery quantity and percentage of delivery quantity to traded quantity. This is the highest holding by FII/FPI since December 2019.

From the low of Rs 64.50, the stock of Bank of Baroda has seen nearly 38 per cent upward momentum in just six trading sessions. Read onto know more about what the technical chart of the stock indicates.