Gold Silver Reports – Dilip Buildcon Slumps 26% In Two Sessions – Shares of the Bhopal-based road construction company fell for second day in a row falling 26 percent in the last two sessions to Rs 782.45. The stock has come under selling pressure despite the company in yesterday’s session clarifying that rumors in the market relating to the resignation of statutory auditors of the company are false and baseless.
ONGC Gains As Brokerages Maintain Buy After March Quarter Earnings
Shares of the state-run oil explorer rose as much as 3.2 percent to Rs 179.60 after it reported March quarter earnings post market hours yesterday.
Key earnings highlights:
✅ Revenue up 4 percent at Rs 23,970 crore versus Rs 22,996 crore (QoQ)
✅ Net profit up 18 percent at Rs 5,915 crore versus Rs 5,015 crore (QoQ)
✅ Ebitda down 23 percent at Rs 8,346.5 crore versus Rs 10,867 crore (QoQ)
✅ Margin at 34.8 percent versus 47.3 percent (QoQ)
✅ Meanwhile brokerages have maintained their buy call on the stock.
CLSA in a note said:
✅ Maintained ‘Buy’; raised price target to Rs 240 from Rs 225.
Ebitda and net profit miss due to higher Opex and larger exploration write-offs.
✅ Subsidy risk rises but OVL and Rajasthan JV to benefit from higher crude prices.
✅ Attractive risk-reward; Stock pricing Brent at $53 per barrel.
Motilal Oswal in a note said:
✅ Maintained ‘Buy’ with a price target of Rs 218.
✅ Ebitda below estimate led by marginally lower realization and higher opex.
✅ Net profit growth led by higher other income.
✅ Expect gas production to increase 10-15 percent annually.
✅ Rising crude oil price may result in subsidy sharing.
