Symphony is a really “cool” stock today morning. The stock, which had closed yesterday at Rs.884.35, opened higher at Rs.900 and rose to hit the 10% UC of the day at Rs.972.75.
This is a “summer” stock – 95% of its revenue comes from the months in summer as its coolers are used to beat the heat all over India. The first two months of Q4 were robust but it is obviously suffering the lockdown in March and now in April.
But brokerage houses and analysts say that the moment the lockdown lifts, Symphony will be a big gainer. The company itself stated in a conference call to Bloomberg that if the situation normalizes, it will grow faster than its peers as majority of its dealers had paid for the stock and would be keen to liquidate it first.
Yet again, if the lockdown extends beyond May, it will be severely impacted as April and May are the year’s best months for Symphony.