There is no theoretical definition for penny stocks. However, stocks in single-digit prices or below Rs 10 are bracketed in this club. ETMarkets has considered companies that had a market capitalisation of less than Rs 1,000 crore as at March 31, 2022.

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities said since Akshay Tritiya was in May last year, MCX gold price has risen more than 7 per cent and the gains were supported by inflation concerns and geopolitical tensions. The upside, however, has been challenged by the US Fed’s monetary tightening expectations, he said.

The current market price of Shriram Transport Finance Company is Rs 1,229. Time period given by analyst is year when Shriram Transport Finance Company price can reach defined target.

A total of 6,118 shares changed hands on the counter till 12:58PM (IST).

The brokerage retained its Buy rating on SCUF and raise our March 23 TP to Rs 2,700 from Rs 2,670, taking into account the revised growth outlook for the standalone business and SHFL.

“In the current scenario, the amount which we can invest in foreign and the mutual fund industry is capped in terms of foreign investments. So incrementally, we are buying only Indian stocks but we are not looking to sell foreign stocks and invest that money into India,” says the CIO of PPFAS MF.

The brokerage expects a 20% EV CAGR over FY22-24E driven by NBV CAGR of 22% on the back of improving margins to ~27.5% levels into FY24E. It maintains BUY with target price of Rs 1,430, valuing the insurer at 2.5x FY24 EV.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 1426.12 Crore, up 37.91 % from last quarter Total Income of Rs 1034.09 Crore and up .68 % from last year same quarter Total Income of Rs 1416.45 Crore. Company has reported net profit after tax of Rs 231.90 Crore in latest quarter.

The Relative Strength Index of the stock stood at 46.82 on Monday.