Stocks in News Today 17 March; Best Stocks to Buy Now
Stocks in News Today 17 March 2023
Stocks in News- The share price of Hindustan Aeronautics opened 4% higher on Friday at Rs 2,839.9 from the previous close of ₹2,723.9. After defence Ministry clears the proposal to buy weapons worth Rs 70500 crore for the Armed Forces & Indian Coast Guard. HAL bags almost 50% of the order value. The share price of Hindustan Aeronautics is currently trading higher by 2.48% at Rs 2790 per share
The share price of Lemon Tree Hotes is trading higher by 2.08% at Rs 78.20 per share, as the company has signed an agreement for a 60 rooms property in Sri Ganganagar, Rajasthan under its brand. The hotel is expected to be operational by July 2026, Its subsidiary Carnation Hotels will be operating this hotel.
The pharma major Dr. Reddy’s Lab has signed a deal to divest nine derma brands to Eris Lifesciences for Rs 275 crore. Eris Lifesciences will get the trademark of these brands for the above-said amount. The share price of Dr. Reddy’s Lab is training higher by 0.48% at Rs 4404 per share and the share price of Eris Lifesciences is trading higher by 0.93% at rs 591 per share
The share price of IndiaMART InterMESH is trading higher by 1.91% at Rs 4892 at this moment, as the company announced divesting its entire 30% stake in Ten Times Online. The company entered into a share purchase agreement on 16 March 2023 to disinvest its entire 30% stake in Ten Times Online by selling 18,701 equity shares for Rs 12.1 lakh. Pursuant to the sale of equity shares, Ten Times would cease to be an associate of the company.
Broker’s Call- Best Stock to Buy Now
Marksans Pharma is mainly into exports of oral solid formulations with a special focus on OTC and soft gelatin/hard gelatin formulations. It generates a major portion of its revenues from the OTC business, which is around 70% of the total revenues, while the balance is from the Rx business. The company has a portfolio of 300+ generic products across 10 therapeutic areas and has a pipeline of 70+ products.
According to the analyst of HDFC Securities, the management guided for strong growth in Cough & Cold and Gastro-Intestinal segment led by new launches. Marksans Pharma will incur capital expenditure on its existing facility upgradation. Management guided for revenue of ₹1,800 crores, gross margin of 50-51%, and EBITDA margin of about 17% in FY23.
Brokerage firm HDFC Securities expects Marksans Pharma to be the best stock to buy now in the smallcap pharma sector which has the potential to deliver a 10 % return in a 6 to 9 months period. The share price of Marksans Pharma is trading higher around 2% at Rs 68.30 per share at this moment.
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