A decline is being seen in the stock market on Thursday. Sensex is trading at 79,312.80 points and Nifty at 24,245.30 points. Meanwhile, the shares of the air cooler manufacturing company are witnessing a stormy rise. Shares of the cooler manufacturing company rose 17 percent on Thursday, August 8. This stock has grown by 42 percent in the last three days.
This rise in the shares of air cooler company Symphony Ltd has happened after the June quarter results. The company has earned more income than expected in the first quarter. Symphony Ltd has seen a growth of 118 percent in business year after year. Experts say that the company has shown good performance. In such a situation, he believes that there has been too much rise in the stock and one should wait for improvement.
Buy these shares or not?
Yes Securities said there is strong demand in the domestic market and Symphony’s subsidiaries saw improved performance in the first quarter, but the brokerage feels valuations of the stock are challenging after a 94 per cent rise so far this year.
Yes Securities said that we had upgraded this stock to buy in the fourth quarter and after our upgrade the stock has gained 51 percent. Given the strong performance, our FY2025 and FY26 EPS estimates have been raised by 18% and 15%, respectively.
He said that we give it a ‘Neutral’ rating as the share price has seen a significant increase and now we have fixed the share price at 45 times with a target price of Rs 1,549. Yes Securities said this stock should be bought every dip
stock performance
On Thursday, Symphony shares rose 16.71 percent to Rs 1,747.65. The stock has gained 42 percent in the last three sessions. This stock has grown by 80 percent in six months and by more than 95 percent in one year.
Nuwama said improvement in operations of overseas subsidiaries and lower channel inventory will help Symphony in the coming quarters. Yes Securities said, “Symphony is also entering the water heater category, where the company will offer feature-rich water heaters at competitive prices.
(Note- Before investing in any share, definitely take the help of a financial advisor.)