Shares of Pidilite Industries surged over 6% to ₹2460 today, leading to a market capitalisation of ₹1.24 lakh crore and a turnover of ₹12.76 crore (INR100 crore = approx. USD12 million) from the trading of 0.53 lakh shares. This comes after Goldman Sachs upgraded their rating for the company to 'Buy'.
The stock has seen varied performance against moving averages throughout the year, with a high of ₹2796.15 and a low of ₹2250.85. Despite facing potential threats to its EBITDA margin, the stock has managed to rebound in 2023.
Goldman Sachs has raised its earnings estimates for FY25/26, indicating an expectation of margin recovery for Pidilite Industries. This comes in the wake of a strong Q1 report from Pidilite, which showed a YoY consolidated net profit rise of 32%, a standalone PAT increase of 40%, and a net sales growth of 6%.
The stock's beta is currently at 0.6 with an RSI of 30.6, indicating a relatively low level of volatility compared to the overall market.
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