Rattan India Share Price Today Live Updates: 15.47 Rupees, Percentage Change
Latest News
Rattan India share price climbed marginally on Tuesday after the company announced its financial results for the quarter ended December 2023. The scrip gained 0.52% to Rs 15.47 apiece on the BSE. It opened at Rs 15.40 and touched an intraday high and low of Rs 15.65 and Rs 15.35, respectively.
On the NSE, the stock gained 0.53% to Rs 15.47 apiece. It opened at Rs 15.35 and touched an intraday high and low of Rs 15.60 and Rs 15.30, respectively.
Rattan India reported a consolidated net profit of Rs 662.82 crore in the quarter ended December 2023, a growth of 21.1% compared to Rs 547.41 crore in the corresponding quarter of the previous year.
The company's revenue from operations rose by 14.3% to Rs 2,113.52 crore in the quarter under review, against Rs 1,849.34 crore in the year-ago period.
Rattan India is a leading player in the electric vehicle (EV) segment in India. The company is engaged in the manufacturing of electric buses, electric cars, and electric two-wheelers.
Expert Analysis
Analysts remain bullish on the stock despite the recent correction in the EV sector. They believe that Rattan India is well-positioned to capitalize on the growing demand for EVs in India.
Prabhudas Lilladher has a "buy" rating on the stock with a target price of Rs 20. The brokerage firm believes that Rattan India is a key beneficiary of the government's focus on promoting EVs in India.
Motilal Oswal has a "buy" rating on the stock with a target price of Rs 22. The brokerage firm is optimistic about Rattan India's long-term growth prospects.
Key Takeaways
- Rattan India share price gained marginally on Tuesday after the company announced its financial results for the quarter ended December 2023.
- The company reported a consolidated net profit of Rs 662.82 crore, a growth of 21.1% compared to the corresponding quarter of the previous year.
- Analysts remain bullish on the stock despite the recent correction in the EV sector.
Comments