A company is said to be ‘fundamentally strong’ when it portrays a specific set of characteristics including strong & consistent financials, lower leverage ratios, and many more.
Listed below are four such fundamentally strong stocks forming a part of the portfolio of Life Insurance Corporation of India (LIC):
Garware Hi-Tech Films Limited
With a market capitalization of Rs 4,840 crores, the stocks of Garware Hi-Tech Films Limited, engaged in the business of manufacturing polyester films, closed at Rs 2,033.50 on Friday, slipping approximately 2.20 percent as compared to the previous closing levels of Rs 2,077.50 apiece.
During the recent financial quarters, the company’s consolidated financials exhibit an increase in the basic business indicators such as operating revenues as well as after-tax profits.
The former rose from Rs 397 crores during Q2FY24 to Rs 454 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 46 crores to Rs 56 crores.
According to the latest shareholding pattern data for the quarter ended December 2023, Life Insurance Corporation of India (LIC) holds a stake in the company and, as per the mentioned quarter, the insurance company, through its schemes, holds around 2.99 lakh equity shares equivalent to 1.29 percent stake.
DCB Bank Limited
With a market capitalization of Rs 4,216 crores, the stocks of DCB Bank Limited, a new-gen Private sector Bank, closed at Rs 136.10 on Friday, gaining approximately 0.80 percent as compared to the previous closing levels of Rs 135 apiece.
During the recent financial quarters, the company’s consolidated financials exhibit an increase in the basic business indicators such as operating revenues as well as after-tax profits.
The former rose from Rs 1,306 crores during Q2FY24 to Rs 1,374 crores during Q3FY24, and the latter, keeping the timeframe the same, was reported at a stable level of Rs 127 crores.
According to the latest shareholding pattern data for the quarter ended December 2023, Life Insurance Corporation of India (LIC) holds a stake in the company and, as per the mentioned quarter, the insurance company, through its schemes, holds around 49.42 lakh equity shares equivalent to 1.58 percent stake.
Apollo Tyres Limited
With a market capitalization of Rs 33,070 crores, the stocks of Apollo Tyres Limited, engaged in the manufacturing of automatic bias, radial tyres, tubes, etc, closed at Rs 528.65 on Friday, gaining approximately 1.60 percent as compared to the previous closing levels of Rs 520.55 apiece.
During the recent financial quarters, the company’s consolidated financials exhibit an increase in the basic business indicators such as operating revenues as well as after-tax profits.
The former rose from Rs 6,280 crores during Q2FY24 to Rs 6,595 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 474 crores to Rs 497 crores.
According to the latest shareholding pattern data for the quarter ended December 2023, Life Insurance Corporation of India (LIC) holds a stake in the company and, as per the mentioned quarter, the insurance company, through its funds, holds around 1.49 crore equity shares equivalent to 2.35 percent stake.
Mahindra & Mahindra Financial Services Limited
With a market capitalization of Rs 35,375 crores, the stocks of Mahindra & Mahindra Financial Services Limited, primarily engaged in the business of financing the purchase of new and pre-owned auto and utility vehicles, etc, closed at Rs 289.50 on Friday, gaining approximately 1 percent as compared to the previous closing levels of Rs 286.45 apiece.
During the recent financial quarters, the company’s consolidated financials exhibit an increase in the basic business indicators such as operating revenues as well as after-tax profits.
The former rose from Rs 3,833 crores during Q2FY24 to Rs 4,100 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 287 crores to Rs 623 crores.
According to the latest shareholding pattern data for the quarter ended December 2023, Life Insurance Corporation of India (LIC) holds a stake in the company and, as per the mentioned quarter, the insurance company, through its funds, holds around 8.87 crore equity shares equivalent to 7.18 percent stake.
Written by Amit Madnani
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