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Shares of Sun Pharmaceutical Industries fell 5% in Thursday's trade on BSE to the day’s low of Rs 1,467 even after the company posted a 34% year-on-year (YoY) jump in its Q4 profit to Rs 2,654.6 crore while the revenue rose 10.1% YoY to Rs. 11813 crore in Q4FY24.The board of the company also declared an interim dividend of Rs. 5 per equity share for FY24 in addition to the interim dividend of Rs 8.5 already paid during the year.Despite a fall in the share price today, brokerages are positive on the stock, and most of them have increased the target prices. Here’s what brokerages have to say:JefferiesJefferies expects growth for Sun Pharma to pick up from FY26 backed by which, it has a ‘buy’ view on the stock with a target price of Rs 1,785Citi BankThe global brokerage firm stated that the company has margin levers but sees a possibility that FY25 margins may remain subdued. Citi has a ‘buy’ rating on the stock with a target price of Rs 1,640 as it believes that the underlying business trends as well as medium term/LT margin expansion story remains intact.Also read: Q4 results today: ITC, IndiGo among 181 companies to announce earnings on ThursdayJP MorganJP Morgan said Sun Pharma presented a strong show in specialty drives in the US while its key business continued to strengthen and the company entered its investment phase.JP Morgan has an ‘overweight’ rating on the stock with a target price of Rs 1,610.Prabhudas LilladherFY25 expenses may remain elevated given the company is in the investment phase to ramp up the specialty pipeline; the launch of deuruxolitinib along with the progress of other pipelines provides visibility to SUNP’s specialty pipeline beyond FY25.Stating that Sun Pharma remains Prabhudas’ top pick in the sector, it maintained a ‘buy’ call on the stock with a revised target price of Rs 1,710.Motilal OswalSun Pharma reported a slight miss at the operational level for 4QFY24 due to lower-than-expected sales in the ROW market and higher-than-expected opex for the quarter. “SUNP continues to work on enhancing its specialty pipeline in the areas of dermatology, ophthalmology, and onco-dermatology. In fact, the target action date of Jul’24 is the key near-term trigger with respect to Deuruxolitinib”, said Motilal Oswal in a report.Motilal Oswal retained its ‘buy’ rating on the stock with a target of Rs 1,810.NuvamaOverall, earnings were a miss on operating level as per Nuvama and following the company’s guidance of high single-digit revenue growth and 8–10% R&D spend, the brokerage firm cut its FY25E/26E EPS by 17%/6%.Nuvama has downgraded the stock to ‘hold’ with a target price of Rs 1,620.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Reliance Industries Ltd.’s new venture, Tira, is leaning on artificial intelligence tools that can suggest perfumes or cosmetics to woo customers in the burgeoning but competitive Indian beauty sector.Tira, which was launched by billionaire Mukesh Ambani’s conglomerate in April last year, also uses electronic vending machines in its stores to dispense free samples of skincare products, according to Tejas Kapadia, head of marketing of the year-old startup that has 12 stores across India and a website.“Customers love that and they keep coming back for that,” Kapadia said in Tira’s first interview since its launch. The idea is to give a “plethora of experiences” using “some form of AI,” he added.One such interactive in-store experience is a “fragrance finder,” which gives perfume options after letting consumers smell a set of “cubes” with different notes of fragrances. Its “skin analyzer” infers the features of a customer by clicking a photo and recommends products that would suit them best. Its stores offer a free engraving service for buyers to personalize their purchases by etching names on perfumes bottles or make-up boxes. The website also provides makeup and skincare lessons.Race to EnterTira is Reliance’s lead horse in the race for the world’s fastest growing major beauty market. The conglomerate’s retail business, helmed by Ambani’s daughter Isha, has also taken over the local operations of skincare brand Kiko Milano and LVMH Group’s luxury beauty retailer Sephora in the past one year. Tira is competing with brands like Tata Group’s Palette and current market leader, Nykaa.The local beauty segment is expected to grow at 10% between 2022 and 2027, according to a September report by RedSeer Strategy Consultants and PeakXV, beating China’s 7% and the US’ 5% forecast growth rates.That’s why international brands are also rushing into India. In 2023, Japan’s Shiseido-owned NARS Cosmetic signed a distribution partnership with Shoppers Stop Ltd. and Selena Gomez launched her brand Rare Beauty on Sephora India. This year, Rihanna brought her cosmetics line Fenty Beauty to India for the first time on Nykaa. “It is a great time to be in the beauty and personal care sector,” said Abhishek Malhotra, a Mumbai-based partner at McKinsey & Company. “People have more disposable income, increased awareness and higher aspirations.”Reliance, led by Asia’s richest person, has been diversifying beyond its oil refining roots for years and entering consumer-facing and technology-led businesses. The almost $32 billion Indian beauty and personal care segment is the latest addition to its expanding portfolio that includes mega refineries, a wireless services provider, a streaming platform and Hamleys toy stores.Reliance’s PlaybookTira, which offers brands from American Smashbox and Estee Lauder to Korea’s Sulwhasoo and homegrown newbie Re’equil, is marketed as “slightly premium,” according to Kapadia, who didn’t clarify if Tira will offer heavy discounts to gain market share. Cut-throat pricing that drives out rivals has been Reliance’s playbook across multiple sectors in the past.Reliance, in its December-quarter earnings release, said that Tira delivered a “strong performance across various operating metrics including sales productivity, average bill value,” without sharing revenue or growth numbers.Kapadia says Tire will need to keep innovating to build a significant market share. “What we’ve done so far is bring in these great tech aspects. Obviously some other players are also now picking up on them,” Kapadia said. “So we need to continue pushing the boundary.”

Indian market is expected to trade higher on Thursday tracking positive global cues.The Nifty future closed positive with marginal gains of 0.27% at 22666 levels on Wednesday. India VIX was down by 1.56% from 21.81 to 21.47 levels.On the weekly options front, the maximum Call OI is placed at 23000 and then towards 22800 strikes while the maximum Put OI is placed at 22500 and then towards 22000 strikes.Call writing is seen at 23000 and then towards 22650 strikes while Put writing is seen at 22600 and then towards 22000 strikes.“Options data suggests a broader trading range in between 22000 to 23000 zones while an immediate range between 22400 to 22800 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.FIIs sold to the tune of Rs 686.04 cr while DIIs bought to the tune of 961.91 cr on Wednesday. FIIs' Long short ratio for index futures is at 30.8% as on a net basis, they sold 7781 index futures.“The weekly series, OI PCR, is at 1.16, and the max pain is at 22550 strike. While, for the May monthly series, OI PCR is at 1.11, which implies a buy on dips strategy in Nifty,” Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities, said.“Going ahead, the zone of 22520-22500 will act as immediate support for the index. As long as the index is trading above 22500, it is likely to test the level of 22730, followed by 22810 level in the short term,” he said.“Any sustainable move below the level of 22490 will lead to profit booking in the index. In that case, the 20-day EMA will act as immediate support for the index, which is currently placed at 22378 level,” highlighted Shah.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureauBEL: Buy| Target Rs 345| Stop Loss Rs 264CIE Automotive India: Buy| Target Rs 600| Stop Loss Rs 510IRB Infrastructure: Buy| Target Rs 88| Stop Loss Rs 68Expert: Kunal Bothra, Market Expert told ETNowHindustan Unilever: Buy| Target Rs 2500| Stop Loss Rs 2260M&M Financial: Buy| Target Rs 282| Stop Loss Rs 257CIE Automotive India: Buy| Target Rs 600| Stop Loss Rs 500(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Low-priced stocks are typically associated with get-me-rich-quick retail investors but there were at least 47 counters where even foreign institutional investors (FIIs) raised stakes in the March quarter. Out of them, a handful of lucky seven stocks even gave multibagger returns in just 6 months.For the sake of this study, we have considered only those stocks with a market price below Rs 25 (September 2023-end as the base) and a minimum market capitalisation of Rs 100 crore.<iframe title="FIIs raise stake in low-priced multibagger stocks" aria-label="Table" id="datawrapper-chart-Dv0MH" src="https://et-infographics.indiatimes.com/graphs/Dv0MH/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="339" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();</script>Nitco Tiles maker Nitco is the top gainer in the list with a six-month return as high as 179%. FIIs raised stake in this microcap from 0.02% to 0.14% in the March quarter on a sequential basis, shows data from ACE Equity.IFCI Shares of state-owned IFCI have also rallied around 150% in 6 months with FII holding going up from 2.08% in the December quarter to 2.29% in the March quarter. Last month, the government infused Rs 500 crore into the financial institution through the issuance of equity shares to the government on a preferential basis. Following this, government holding in IFCI has increased from 70.32% to 71.72%.Also read | Hindustan Zinc shares double in 1 month but the boom isn't so much about zincNewtime InfrastructureSmallcap real estate developer Newtime Infrastructure, which gave 122% return to investors in 6 months, has seen FII ownership going up multi-fold from a miniscule 0.03% to 2.89%.UnitechUnitech is another real estate developer which has doubled investor wealth in no time. FII ownership has increased from 0.32% to 0.49% in 6 months.Hindustan MotorsSmallcap auto stock Hindustan Motors has also doubled in 6 months with FIIs also increasing stake from 0.02% in December 2023 to 0.04% in March 2024. From the stable of CK Birla Group, Hindustan Motors is famous for the iconic Ambassador car with the management now trying to stage a turnaround with electric vehicles.Cupid Personal care products manufacturer Cupid has seen its stock grow by 112% in 6 months. FII stake, in the meantime, has jumped multi-fold from 0.45% to 5.19% quarter-on-quarter.PVP VenturesFIIs have also raised stakes in PVP Ventures, which is engaged in the business of developing urban infrastructure and investments in various ventures, from 0.94% in Q3 to 1.06% in Q4. PVP's share prices have also more than doubled.Also read | India stock market hits $5 trillion milestone fortnight ahead of election results(Data: Ritesh Presswala)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)