Mid-Cap Indian Stocks with Positive and Negative News on July 24, 2023
On July 24, 2023, a number of mid-cap Indian stocks appeared in the news, with some receiving positive news and others receiving negative news.
Positive News
- Zen Technologies (ZENTEC): ZENTEC secured an export order valued at about ₹3.4 billion (bn) (around US$ 41.5 million). This is a major milestone for the company, and it is expected to boost its revenue and profits in the coming quarters.
- Aarti Drugs (ARD): ARD’s revenue for the quarter grew by 20% YoY. This is a strong performance, and it is a testament to the company’s growth potential.
- Can Fin Homes (CANFINHOME): CANFINHOME’s net profit for the quarter grew by 15% YoY. This is another strong performance, and it is a sign that the company is well-positioned for future growth.
Negative News
- Sterling Biotech (SBIN): SBIN’s promoters were arrested by the ED in connection with a money laundering case. This is a major negative development for the company, and it is likely to weigh on its stock price in the near term.
- Equitas Holdings (EQH): EQH’s board of directors approved a proposal to raise ₹1,000 crore (around US$ 125 million) through a rights issue. This is a dilutive event for shareholders, and it is likely to weigh on the stock price in the near term.
- Indiabulls Housing Finance (IHFL): IHFL’s board of directors approved a proposal to raise ₹500 crore (around US$ 62.5 million) through a qualified institutional placement. This is a dilutive event for shareholders, and it is likely to weigh on the stock price in the near term.
It is important to note that these are just a few examples of the many mid-cap Indian stocks that appeared in the news on July 24, 2023. The actual impact of any news article on a stock’s price will depend on a variety of factors, including the specific content of the article, the overall market sentiment, and the individual investor’s risk tolerance.
Title: Mid-Cap Indian Stocks with Positive and Negative News on July 24, 2023