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    532482   INE101D01020

GRANULES INDIA LIMITED

(532482)
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Banks, IT lead rebound in Indian shares on fiscal stimulus hopes

09/25/2020 | 06:37am EDT

BENGALURU, Sept 25 (Reuters) - Indian shares on Friday snapped their longest losing streak since February, boosted by financial and IT stocks, after a media report suggesting more domestic fiscal stimulus was on the way lifted sentiment.

The broader NSE Nifty 50 index rose 2.3% to 11,050.25 and the S&P BSE Sensex climbed 2.3% to 37,388.66, after falling for six straight sessions.

The Indian government was set to announce a stimulus package ahead of the festive season, aimed at creating jobs and pushing demand to lift the battered economy, a Moneycontrol report said.

Both Indian indexes, however, were down nearly 4% in their worst week since early-May, on worries over the impact of surging cases of the novel coronavirus on the global economic recovery.

"We may see little bounces ... Fundamentals are as weak as they were three months back," said Umesh Mehta, head of research at Samco Securities, Mumbai.

The Nifty IT sub-index climbed 3.5%, while the Nifty Bank index gained 2.6%.

The positive investor sentiment was also underpinned by a recovery in global shares on hopes of economic stimulus from the United States.

Shares of Granules India Ltd rose as much as 9.5% after a report said KKR, Bain Capital, Blackstone were in the race for a majority stake in the pharma company.

Shares of Vodafone Idea rose as much as 14.8%, after Reuters reported that the telecom operator's British parent, Vodafone Group Plc won an international arbitration case against Indian government.

India's Cipla rose 5.1% after it got a final approval from the U.S. FDA for a generic version of Biogen IDEC's multiple sclerosis drug Tecfidera. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CIPLA LIMITED -0.20% 948 Delayed Quote.15.85%
GRANULES INDIA LIMITED 4.28% 383.75 End-of-day quote.8.97%
KKR & CO. INC. 2.26% 62.01 Delayed Quote.53.32%
NIFTY 50 0.20% 15856.05 Delayed Quote.13.18%
NIFTY IT 1.80% 29894.3 Delayed Quote.22.80%
SAMCO INC. 0.00% 3020 End-of-day quote.-19.79%
SENSEX 30 0.26% 52975.8 Real-time Quote.9.31%
THE BLACKSTONE GROUP INC. 2.07% 112.31 Delayed Quote.73.44%
VODAFONE GROUP PLC 2.67% 119.04 Delayed Quote.-4.05%
VODAFONE IDEA LIMITED -9.73% 8.35 Delayed Quote.-13.15%
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Financials
Sales 2022 37 725 M 507 M 507 M
Net income 2022 5 264 M 70,7 M 70,7 M
Net Debt 2022 4 076 M 54,8 M 54,8 M
P/E ratio 2022 17,9x
Yield 2022 0,38%
Capitalization 93 993 M 1 263 M 1 263 M
EV / Sales 2022 2,60x
EV / Sales 2023 2,14x
Nbr of Employees 3 369
Free-Float 54,5%
Chart GRANULES INDIA LIMITED
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Granules India Limited Technical Analysis Chart | 532482 | INE101D01020 | MarketScreener
Technical analysis trends GRANULES INDIA LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 7
Last Close Price 379,50 INR
Average target price 417,43 INR
Spread / Average Target 9,99%
EPS Revisions
Managers and Directors
Krishna Prasad Chigurupati Chairman & Managing Director
Sandip Neogi Chief Financial Officer
GSR Prasad Chief Operations Officer
Chaitanya Tummala Secretary & Compliance Officer
Arun Rao Akinepally Independent Non-Executive Director
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