Westlife was reporting negative same-store sales growth since the beginning of FY14. It turned positive to 1.7% in June FY16 quarter to 3.1% in September.
IG Petro, which is yet to announce its quarterly results, is a larger player and has shown more stability in its earnings.
Once much-talked about, these companies lost sheen after the sharp fall in gold price, the collateral against which these companies lend.
Metal stocks, which were the leaders of the recent rally primarily driven by the rise in the global commodity prices, have started to underperform.
Shares of Hindalco, an aluminium producer, have corrected 6% in the last two trading sessions after a sharp fall in the LME aluminium prices.
With the recent rise in the commodity prices and commissioning of the company’s power plants, the stock may undergo an upward rating revision.
Analysts expect Raymond’s earnings to double between FY16 and FY18 to Rs 220 crore. Its current market cap is Rs 2,800 crore.
According to Worldsteel Association, Chinese demand is likely to decline 4% in 2016 and 3% in 2017. The rest of the year may be weak for the steel industry.
In the coming quarters, retaining the current level of refinery efficiency will be challenging considering higher volatility in crude oil prices.
According to the announcement made by Phoenix lamps, for every 5 shares held of Phoenix, investors will get 4 shares of Suprajit.
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