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 (NYSE:GS) 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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