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New Delhi. Segility India share, which entered the stock market last month, hit upper circuit today and reached all-time high. In the last one month, this stock has given 70 percent return to investors. Brokerage firm Jefferies has started coverage of Segility India shares and has given it an ‘overweight’ rating. Today this share opened at Rs 47.90 on NSE with a rise compared to yesterday’s closing price of Rs 46.60. Shortly after opening, it hit an upper circuit of five percent and the share reached a record high of Rs 48.93.
Segility India share was listed on the stock exchange on November 12 at ₹31.06. This share was issued to IPO investors at a price of Rs 30. Segility India’s ₹2,106.60 crore IPO was open for subscription from November 5-7. This IPO received a good response from investors and overall it was subscribed 3.20 times. This issue was completely an offer for sale and no new shares were issued in it. After being listed on 12th November, it fell to a record low of Rs 27.02 the next day i.e. on 13th November.
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Jefferies gave buy rating
Global brokerage firm, Jefferies has advised to buy Segility India share and has set its target price at Rs 52. The brokerage says that the company has a strong presence in the American healthcare sector. Between FY 2025 and FY 2027, the company’s revenue may grow at a compound growth rate (CAGR) of 12 percent annually and net profit at 40 percent. Jefferies says that strong performance and financial improvement will help Sagility India maintain valuations.
In the September quarter, the company reported a 236% increase in net profit on year-on-year basis. Its consolidated net profit in the quarter under review stood at Rs 117 crore. Revenue increased by 21.1% to Rs 1,325 crore and Ebitda increased by 28.2% to Rs 300 crore. Ebitda margin was 22.6% as against 21.4%. For the full fiscal year 2024, Segility’s profit grew 59% to Rs 228.3 crore, supported by reduction in finance costs and increase in other income. However, operating margins remained under pressure.
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first published : December 24, 2024, 11:35 IST
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