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New Delhi. 4 big public sector companies have more than doubled investors’ investment in 5 months this year. Cochin Shipyard Limited, Housing and Urban Development Corporation (HUDCO), Rail Vikas Nigam Limited (RVNL) and IFCI have given 100 to 200 percent return to their investors so far this year. The highest return (191 percent) has been received from Cochin Shipyard. It has almost tripled the investment.
After this, HUDCO has given 109 percent, RVNL has given 108 percent and IFFCI has given 102 percent return to its investors. It is worth mentioning that last year also the return of all these stocks was above 100 percent. Then Cochin Shipyard had given 153 percent, HUDCO had given 141 percent, RVNL had given 166 percent and IFFCI had given 111 percent return to its investors.
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how is their business
Cochin Shipyard’s profit grew 157 per cent to Rs 783 crore in FY24. Its revenue also grew 62 per cent. Cochin Shipyard’s profit grew 7 times to around Rs 259 crore in the fourth quarter. Its revenue stood at Rs 1286 crore during this period. HUDCO’s annual net profit grew 9.5 per cent to Rs 700 crore. IQC became profitable in FY24 after 5 years. This financial year the company made a profit of Rs 128 crore.
Brokerages are bullish
Considering the strong financial position of the companies and the better future of the business, many brokerages remain bullish on these shares. Brokerage firm Elara Capital has initiated coverage for the company with a buy rating. It has been given a target price of Rs 297. Apart from this, other shares have also received target prices from different brokerages.
(Disclaimer: The stocks mentioned here are for information purposes only. If you want to invest in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)
first published : May 28, 2024, 4:51 pm IST
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