• Trades at the highest level since April 2019
• Gains as much as 6.1% to Rs 750.3
• Up for the fifth straight day
• Longest winning streak since March 2019
• Has gained 15% over the last five trading sessions
• Today's volumes are nearly nine times higher than its 20-day average
• Stock trades in overbought territory with Relative Strength Index (RSI) at 74
• The stock has doubled from its 52-week low of Rs 372.8 on March 24, 2020
• Two out of the three analysts tracking the stock have a buy recommendation; 0 sell calls
• The stock trades 12.5% higher than its 12-month consensus price target of Rs 650, implying a negative return potential

• Revenue up 4% to Rs 3,639 crore
• Net profit up 50% to Rs 454 crore
• Ebitda up 24% to Rs 814.5 crore
• Ebitda margin at 22.4% from 18.8%
• Cost of raw materials up 18% to Rs 852 crore
• Lower finance costs offset higher cost of raw materials
• Pharmaceutical division revenue up 8% to Rs 3,102 crore
• Consumer products division revenue down 13% to Rs 537 crore
• U.S. sales up 19% to Rs 1,623 crore
• Rest of the World business up 8% to Rs 238 crore
• All numbers are consolidated and compared on a year-on-year basis

Shares give up all the gains to trade little changed at Rs 403.9, post the announcement.

• Benchmark indices off the day's high
• Nifty down 0.24% at 11,070
• Sensex down 0.3% at 37,579
• Nifty Bank up 0.1% at 21,518
• Nifty Midcap index up 0.7%
• Nifty Smallcap index up 0.75%
• India Volatility index down 1.54% to 23.44
• Nifty FMCG turns negative; down 0.3%
• Nifty Metal off day's high but remains top sectoral gainer; up 3%
• Nifty Auto is the other sectoral gainer; up 1.4%
• Hindalco remains the top Nifty gainer; up 6.4%
• HDFC Bank is the top Nifty laggard; down 1.6%
• 1,139 stocks on the NSE trade with gains while 592 decline

• Revenue down 33% to Rs 403.9 crore
• Net profit down 57.7% to Rs 19.9 crore
• Ebitda down 41.7% to Rs 54.3 crore
• Ebitda margin at 13.4% from 15.3%
• Plastic business revenue down 32% to Rs 309.3 crore
• Adhesives business revenue 37% to Rs 94.6 crore
• Overall sales down 31% to 21,784 MT
• Recovered more than 91% sales in adhesive and pipe business from May to July
• Net debt free as on June 30 after repaying loans worth Rs 28.9 crore
• All numbers are consolidated and compared on a year-on-year basis

Shares gained as much as 1.6% to Rs 959 and are up for the second straight day.

Shares of the beverage producer and distributor rose after brokerage firm CLSA maintained its buy rating on the stock and raised its price target citing growth prospects for the medium-term.

CLSA’s Rationale:

• Cost reductions restrict disruptions during seasonally important quarter
• Impact of lockdown on profitability may be lesser than expected due to strong focus on cost reduction, improving demand trends
• Continue to see multiple growth drivers beyond 2020
• Target multiple of 14 times CY22 is still below five-year average by 15%
• Realisations per case rose 9% due to higher mix of CSD and controlled trade promotions
• Capex for 2021 is likely to drop to 50% of depreciation
• See potential for higher asset turnover, market share gains in its newly acquired territories, margin and RoCE expansion

CLSA has increased its price target on the stock to Rs 870 from the earlier Rs 745.

Shares trade near the day's high, gaining as much as 4.2% to Rs 746.2. The stock trades at a five-month high and is up for the second straight day.