
Honasa Consumer Shares Rise Over 13% on Strong Q1 Results; Jefferies Raises Target to Rs 400; Sonata Software Gains 12%
Shares of Honasa Consumer Ltd surged between 13% and 14% following the release of strong first-quarter results, which included a profit increase that exceeded market expectations. The stock's rise was supported by upgrades from financial firms, including CLSA and Jefferies, the latter raising the target price to Rs 400. Hindalco's shares also increased by 5%, while Jupiter Wagons experienced a decline of 7% amid a 64% drop in profit and a decrease in revenue for the quarter. Sonata Software Ltd saw a 12% gain after a period of decline, with a notable volume surge attributed to dividend disclosures. Sonata Software led the gainers in the NSE 'A' group during this period. The Nifty index remained above 24,500 during these movements.
Sources
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