MUMBAI: As investors keep digging for opportunities to invest in sunrise sectors, one stock that came to the limelight today is Sona BLW Precision Forgings.The newly-listed automotive parts maker is a pure-play on the upcoming electric vehicle market and according to brokerage firm Nomura Securities India, the stock is the place to be as the global auto fleet gets revamped in the coming years. The pitch is obvious: You can’t buy a Tesla, so buy some Sona!Nomura India initiated coverage on the stock with a buy rating and a price target that suggested over 23 per cent gains from Friday’s closing price. But expect another upgrade to the price rating to follow soon since the stock already jumped 15 per cent in today’s trade. Clearly, this market has no patience.The brokerage firm noted that Sona BLW has the highest growth rate and return on equity among its global peers, instantly making it a quality pick for investors. Shares of the auto ancillary company have risen merely 27 per cent since listing on June 24 at a premium of mere 4 per cent when most other IPO stocks have given at least double-digit returns.Nomura India believes that the company is staring at a $30 billion opportunity in the EV component market this decade and growing its revenues at 38 per cent annually going ahead. Isn’t that swell?IRCTC gets a local boostThe country’s premier railway ticketing online platform just got itself a gift from Maharashtra after the government decided that the Mumbaikars can now book their local tickets online. With Maharashtra allowing fully vaccinated citizens to board local trains, the demand for online tickets is likely to surge for one of the most used intra-city railways services in the country as people look to avoid crowded ticketing windows.The move will come into effect from the Independence Day as the state looks to further ease Covid-19 restrictions on the back of falling daily caseload. Overall, the prospects look better for one of the most hyped re-open trades in the market. Shares of IRCTC reacted positively as they closed nearly 7 per cent higher.NALCO dives in disappointmentThe state-owned aluminium company, one of the stars of the cyclical trade playing out in the stock market since October, reported weak earnings for the quarter ended June. The company’s lower-than-expected revenues and margins were confounding given the stellar operating performance of private sector rival Hindalco Industries.With investors showing no mercy for earnings disappointment this quarter of all quarters, the stock of the state-owned company was hammered left, right and center. NALCO’s stock plummeted nearly 12 per cent, but there is a silver lining.
Article Source and Credit economictimes.indiatimes.com https://economictimes.indiatimes.com/markets/stocks/news/market-movers-sona-comstar-sees-a-chaandi-rally-irctc-gets-back-on-track/articleshow/85178349.cms Buy Tickets for every event – Sports, Concerts, Festivals and more buytickets.com