Stocks Picker Articles

16 Apr 2024 05:39

Stock in news

Jio Financial plan to venture into the stock broking and wealth management through an equal JV with US-based BlackRock

The Mukesh Ambani led Jio Financial plan to venture into the stock broking and wealth management business through an equal joint venture (JV) with US-based BlackRock. Earlier, the two had entered into an agreement for Mutual Fund JV, they awaiting Sebi’s approval for a licence.

Vedanta has secured an 11-year term loan of Rs 3,918 crore from Power Finance Corporation

Vedanta has secured an 11-year term loan of Rs 3,918 crore from Power Finance Corporation. The financial closure will enable Vedanta to expedite completion of its power projects.

Cipla to purchase the distribution and marketing business undertaking of cosmetics and personal care businesses from Ivia Beaute

Cipla Health, the wholly owned subsidiary of Cipla, has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care businesses from Ivia Beaute, India, through a slump sale arrangement on a going concern basis. The deal value of Rs 130 crore on the closing date includes Rs 110 crore if certain financial parameters are met for the next 3 years.

Gujarat Gas has signed a non-binding MOU with Indian Oil Corporation to broaden the scope and accessibility of energy solutions

Gujarat Gas has signed a non-binding Memorandum of Understanding (MOU) with Indian Oil Corporation to broaden the scope and accessibility of energy solutions for consumers. As per the MoU, Indian Oil Corporation will provide liquid fuels, automotive lubricants, greases, and specialties at Gujarat Gas outlets. Further, Gujarat Gas will set up a CNG facility and a CNG mother facility at Indian oil outlets.

Aster DM Healthcare plans to invest around Rs 1,000 crore in India to expand its bed capacity of over 6,600 in the next three years
Aster DM Healthcare plans to invest around Rs 1,000 crore in India to expand its bed capacity of over 6,600 in the next three years. The healthcare company plans to add 1,700 beds by 2026-27 through organic and inorganic routes.

Brigade Enterprises to invest Rs 400 crore to build an office complex in Chennai

Brigade Enterprises to invest Rs 400 crore to build an office complex in Chennai. It has entered into a Joint Development Agreement (JDA) with Chennai-based Agni Estates & Foundations.

Ambuja Cements in its bid to expand its footprint in the South Indian market

Ambuja Cements in its bid to expand its footprint in the South Indian market, Ambuja to buy grinding unit in Tamil Nadu for Rs 413.75 crore from My Home Industries.

Gokul Agro Resources Subsidiary Riya Agro Industries has entered into a MOA with the Government of Andhra Pradesh

Gokul Agro Resources Subsidiary Riya Agro Industries has entered into a Memorandum of Agreement (MOA) with the Government of Andhra Pradesh for an oil palm development program in Ananthapuramu district.

InterGlobe Aviation market share increased to 60.5% in March 2024, up from 60.1% in February

InterGlobe Aviation market share increased to 60.5 percent in March 2024, up from 60.1 percent in February. In terms of on-time performance (OTP), IndiGo was in third place with 81.3 percent.

Stocks Picker Articles

16 Apr 2024 04:52

*Stocks in News*


*Happy Forge:* Receives Rs 500cr order from Tier-1 OEM manufacturer. (Positive)

*GTPL Hathway:* Revenues at 814.8 cr vs 702 cr, up 16%. Net profit at 12.8 cr vs Loss 12.4 cr. (Positive)

*Vedanta:* Company secures ₹3,900 cr loan from India's Power Finance. (Positive)

*Cipla:* Company to buy Ivia Beaute’s cosmetics & personal care business for ₹130 crore (Positive)

*Jio Financial Services:* Company and BlackRock in 50:50 JV for wealth management, brokerage business (Positive)

*Gujarat Gas:* Company and IOCL have signed a non-binding MOU to broaden the scope and accessibility of energy solutions for consumers (Positive)

*Ramkrishna Forgings:* Company receives Rs 270 crore order from consortium led by BHEL. (Positive)

*Adani Energy:* Transmission and smart metering business saw system availability of 99.6% in Q4. (Positive)

*TCS:* Company opens new delivery center in Londrina, Brazil. (Positive)

*Madhya Bharat Agro:* Company has decided to one more phosphoric Acid Line in phase II, as a result the total Capex of Both the phase is about Rs. 700 Crores. (Positive)

*Capacite Infra:* Valiant Mauritius Partners bought 5.72 Lk shares at Rs 306.42. (Positive)

*Eureka Forbes:* North Star Opportunities Fund bought 10.0 Lk shares at Rs 468.02. (Positive)

*Marksans Pharma:* MIT brought 66lk shares (1.45%) worth Rs 104cr (Positive)

*VST Ind:* Radhakishna Damani acquires 1.5% stake worth Rs 86.25cr (Positive)

*Titan:* Apple in talks with Titan's arm to assemble and manufacture iPhone components: ET (Positive)

*TRIL:* Company eligible to supply Gujarat Energy Transmission Corporation (Positive)

*Thomas Cook:* Company expands its Foreign Exchange distribution with a new counter at its Laxmi Nagar Gold Circle Partner outlet, increasing consumer access to 12 locations across Delhi-NCR. (Positive)

*Reliance Naval:* Issuance of 1 equity share for every 275 equity shares held by existing shareholders of company. (Neutral)

*JSW Infra:* Company re-appoints Arun Maheshwari as the Joint Managing Director & CEO of the company (Neutral)

*Sula Vineyards:* Company has acquired N D Wines Private Limited, now holding 100% of its equity share capital, making it a wholly owned subsidiary. (Neutral)

*Manappuram Finance:* Company to consider $500 million fund raise proposal on April 19. (Neutral)

*Tata Power:* Sec 11 for thermal plants running on imported coal implementation extended till Oct 15 vs Jun 30 prev (Neutral)

*GIC RE:* Company approves appointment of V Balkrishna as CFO effective May 1. (Neutral)

*Allcargo:* March CFS volumes at 54.7 '000 TEUs, up 1% year-on-year. (Neutral)

*Hero MotoCorp:* Company begins nationwide deliveries of the Mavrick 440. (Neutral)

*Hindustan Unilever:* LIC increases stake in Hindustan Unilever to 5.01% from 4.99% (Neutral)

*India Cements:* Company appoints K Vamsidhar Reddy as Chief Manufacturing Officer (Neutral)

*Ambuja Cements:* Company signs definitive agreement to acquire My Home Group's 1.5 MTPA cement grinding unit. (Neutral)

*Brigade Enterprises:* The board has appointed Jayant Bhalchandra Manmadkar as Chief Financial Officer of the real estate company, with effect from April 18. (Neutral)

*Gujarat Gas:* Asia LNG prices rise to $10.7/mmbtu – up 26% in last one month (Neutral)

*Oil upstream stocks:* Govt hikes windfall gain tax on domestic crude to Rs 9600/tonne from Rs 6800/tonne (Negative)

*LTIMindtree:* Pankaj Chugh as well as Gregory Dietrich have resigned as Executive Vice President – Global Sales of the company, with effect from April 15. (Negative)

Stocks Picker Articles

15 Apr 2024 05:14

Corporate Actions

Aster DM Healthcare has declared a special dividend of Rs 118 per share after the receipt of proceeds from the sale of the GCC business and redemption of redeemable preference shares issued to the company by Affinity Holdings. Record date 23rd April, 2024.

Anand Rathi Wealth intends to buyback up to 3.7 lakh equity shares, amounts to 0.88% of the total equity shares. Buyback price has been fixed as ₹4,450 per share and total buyback consideration will not exceed ₹164.65 crore, also intends to buyback the shares through the "tender offer" route

Dividend

18-Apr-24
STOVACQ: Final Dividend - Rs. - 17.00

19-Apr-24
GUJTLRM: Interim Dividend - Rs. - 1.00
SCHAEFFLER: Final Dividend - Rs. - 26.00

22-Apr-24
AEGISLOG: Interim Dividend - Rs. - 1.25

23-Apr-24
VUENOW: Interim Dividend - Rs. - 0.50
ASTERDM: Interim Dividend
FORTISMLR: Interim Dividend

IPO
---

Buyback
Tips Industries: Ex-Date: 22-Apr-24
Freshtrop Fruits: Open: 08-Apr-24; Close: 16-Apr-24

Bonus
Integrated Industries: Bonus Issue 1:1; Ex-Date: 16-Apr-24
Naapbooks: Bonus Issue 2:1; Ex-Date: 19-Apr-24
Shukra Pharma: Bonus Issue 3:1; Ex-Date: 19-Apr-24
Anup Engineering: Bonus Issue 1:1; Ex-Date: 23-Apr-24

Stock Split
Suratwwala Business: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 18-Apr-24
Pulsar International: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 19-Apr-24
Bharat Bijlee: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Apr-24

Right Issue
Sakuma Exports: Ex-Date: 15-Apr-24
Ashapuri Gold Ornament: Ex-Date: 18-Apr-24
Balkrishna Paper Mills: Open: 02-Apr-24; Close: 15-Apr-24
Mishtann Foods: Open: 02-Apr-24; Close: 17-Apr-24
Sawaca Business Machines: Open: 02-Apr-24; Close: 22-Apr-24
Spectrum Foods: Open: 08-Apr-24; Close: 22-Apr-24
Jyoti Structures: Open: 15-Apr-24; Close: 29-Apr-24
Shiva Cement: Open: 22-Apr-24; Close: 06-May-24
Aa Plus Tradelink: Open: 22-Apr-24; Close: 06-May-24
Sakuma Exports: Open: 25-Apr-24; Close: 13-May-24

Stocks Picker Articles

15 Apr 2024 04:46

*Fund Houses Recommendations*


JP Morgan on *TCS:* Upgrades to Overweight on Company, raise target price at Rs 4500/sh from Rs 4130/Sh (Positive)

GS on *TCS:* Maintain Buy on Company, target price at Rs 4350/sh (Positive)

MS on *TCS:* Maintain Overweight on Company, target price at Rs 4350/sh (Positive)

ICICI on *TCS:* Upgrades to Add on Company, raise target price at Rs 4330/sh (Positive)

Kotak on *TCS:* Maintain Add on Company, raise target price at Rs 4300/sh (Positive)

UBS on *TCS:* Maintain Buy on Company, raise target price at Rs 4700/sh (Positive)

HSBC on *TCS:* Maintain Buy on Company, raise target price at Rs 4540/sh (Positive)

HSBC on *Sun Pharma:* Maintain Buy on Company, target price at Rs 1790/sh (Positive)

HSBC on *Dixon:* Maintain Buy on Company, target price at Rs 8400/sh (Positive)

UBS on *Indian Hotels:* Maintain Buy on Company, raise target price at Rs 715/sh from Rs 500/Sh (Positive)

Jefferies on *ONGC:* Initiate Buy on Company, target price at Rs 390/sh (Positive)

UBS on *Zomato:* Maintain Buy on Company, raise target price at Rs 250/sh (Positive)

MS on *Exide:* Maintain Overweight on Company, raise target price at Rs 485/sh from Rs 373/Sh (Positive)

Morgan Stanley *India Strategy:* This is set to be India's longest and best bull market ever (Positive)

Jefferies on *TCS:* Maintain Hold on Company, target price at Rs 4030/sh (Neutral)

CLSA on *TCS:* Maintain Hold on Company, cut target price at Rs 4043/sh (Neutral)

Nomura on *TCS:* Maintain Reduce on Company, raise target price at Rs 3240/sh (Neutral)

BofA on *TCS:* Maintain Neutral on Company, raise target price at Rs 4125/sh (Neutral)

Kotak on *Cyient DLM:* Maintain Sell on Company, target price at Rs 570/sh (Neutral)

Emkay on Heath drink regulations: Ministry of Commerce & Industry issued an advisory to e-commerce companies for removal of drinks/beverages from the Health Drinks category. *HUL* is likely to see a hit (Negative)

Stocks Picker Articles

12 Apr 2024 05:36

Forthcoming Event

12th April: ANANDRATHI, TCS, ASTERDM to consider Dividend; Ami Organics, Paisalo Digital to consider Fund Raising; Anand Rathi to consider Buyback

16th April: Satin Creditcare Network to consider Fund Raising

17th April: ICICIGI, TATACOMM to consider Dividend

18th April: BAJAJ-AUTO, INFY, SWARAJENG to consider Dividend; Sharda Motor Industries to consider Buyback

19th April: ELECON, HDFCAMC, RSSOFTWARE to consider Dividend; Davangere Sugar Company to consider Stock Split; Premier Explosives to consider Stock Split & Fund Raising

20th April: HDFCBANK to consider Dividend; Vaswani Industries to consider Fund Raising

21st April: PERSISTENT to consider Dividend

22nd April: Rama Steel Tubes to consider Fund Raising

24th April: ANANTRAJ, LTIM, MAHSCOOTER, NAM-INDIA, SYNGENE to consider Dividend

25th April: BAJFINANCE, LTTS, MPHASIS, TECHM, UTIAMC to consider Dividend

26th April: ATUL, BAJAJFINSV, BAJAJHLDNG, HCLTECH, MAHLIFE, MARUTI, SHREDIGCEM to consider Dividend; Shriram Finance to consider Dividend & Fund Raising; Ksb Limited to consider Stock Split

27th April: CRAFTSMAN, ICICIBANK, L&TFH to consider Dividend

Stocks Picker Articles

12 Apr 2024 05:07

Stock in Action

Induslnd Bank Ltd: IndusInd Bank reported strong 4QFY24 business update with total net advances grew by 5% QoQ and 18% YoY at Rs. 3,42,857 crore. The total deposits with the bank as on 31st March 2024 stood at Rs. 3,84,789 Cr, which is up by 4% from the previous quarter and by 14% compared to the last year. Out of the total deposits Rs. 1,69,441 Cr have come from Retail Deposits and Deposits from Small Business Customers. Although during Q4,2024 the Retail Deposits as per LCR saw a one-time net outflow of Rs 2,759 crores following regulatory actions on a fin-tech partner of the Bank. It has delivered around 19% and 26% CAGR in regulatory retail deposits over 2 and 3 years. Moreover, headline deposit growth has been relatively moderate at 13-15% YoY due to opportunistic non-retail deposit growth thanks to excess liquidity. Positive on IndusInd Bank given the strong business growth during 4QFY24.

Exide Industries Ltd:: Exide Industries' stocks have achieved consecutive 52-week high following the partnership deal with Hyundai Motors Company and Kia Corporation for electric vehicle (EV) battery production in India. The growing EV sector in India shows huge potential for Exide Industries after this partnership. Also, recently it entered an agreement for acquiring a 26% equity stake in "Clean Max Arcadia Private Limited" for generation and supply of solar power. Through this joint venture, the company will promote renewable energy on a long-term basis by qualifying as a captive consumer for a solar capacity of 14.85 MW at its factory in Bawal, Haryana.Positives on Exide Industries as the partnership deal to produce EV batteries shows strong growth potential for the company.

Stocks Picker Articles

12 Apr 2024 04:51

*Stocks in News*


*CAMS:* Company received Certificate of Authorization to operate as an Online Payment Aggregator from RBI. (Positive)

*NALCO:* KABIL and CSIR-IMMT sign MoU for technical & knowledge cooperation for critical minerals. (Positive)

*Metropolis Healthcare:* Company reported growth in overall revenue in Q4FY24 and core business revenue (Positive)

*Dr. Reddy’s:* Company launched drug-free non-invasive migraine management device Nerivio in Europe (Positive)

*Thomas Cook:* Company and SOTC launch aerial spiritual tours to Adi Kailash and Om Parvat. (Positive)

*Phoenix Mills:* Company reports 27 percent growth in Q4 total consumption. (Positive)

*Trident:* Company commissions 1.1 MWp solar power project in Budhni, Madhya Pradesh (Positive)

*Uno Minda:* Company is set for new ₹542-crore Greenfield alloy wheel plant in Haryana. (Positive)

*PVR Inox:* Company opens 9 screen multiplex at Forum Mall in Kochi, Kerala. PVR Inox launches 14-screen megaplex at Phoenix Mall of Asia, Bengaluru (Positive)

*Maharashtra seamless:* Company gets order worth Rs 674 crore from ONGC for supply of pipes (Positive)

*Vakrangee:* Company in pact with Global One Enterprises (Max TV) to provide OTT services (Positive)

*NTPC:* NTPC Green picks four investment banks for proposed ₹10,000 crore IPO. (Positive)

*RBL Bank:* Appoints former South Indian Bank MD Murali Ramakrishnan as Additional Non-Executive Director (Positive)

*Interglobe Aviation:* Company to see inflows of $60 million as weight in MSCI is expected to increase. (Positive)

*Zaggle:* Company has partnered with Yokohama India Private Limited to provide its Zaggle Save service for employee expense management and benefits (Positive)

*Quick Heal:* Company announced its membership in the U.S. Artificial Intelligence Safety Institute Consortium (Positive)

*Finolex Industries:* CFO Niraj Kedia resigns effective June 30 (Neutral)

*Bandhan Bank:* Appoints Satish Kumar as Head–Wholesale Banking w.e.f. April 10, 2024. (Neutral)

*Wipro:* Company appoints Malay Joshi as Chief Executive Officer (CEO) for Americas 1 strategic market unit w.e.f. April 10 (Neutral)

*Utkarsh SFB:* Company pays SEBI Rs 1.24 crore to settle norm breach probe.. (Neutral)

*DCX Systems:* Company appoints Diwakaraiah N J as CFO effective April 11 (Neutral)

*Varun Beverages:* Company to invest up to 14% of equity of Huoban Energy 11 to supply solar power. (Neutral)

*Oil India:* Leakage incident reported at facility in Assam. (Neutral)

*HMVL:* Company Approved Investment upto Rs 40 mln in cutting edge software (Neutral)

*Vodafone Idea:* Company to launch up to ₹18,000 crore FPO on April 18 (Neutral)

*Shalimar Paints:* Company appoints C Venugopal as the Chief Operating Officer of the company. (Neutral)

*TIPS Industries:* Shareholders pass special resolution approving a proposal to buyback up to 5.95 lk equity shares at a price of Rs 625 each. (Neutral)

Stocks Picker Articles

10 Apr 2024 05:14

Corporate Actions

Dividend

10-Apr-24
DCMSRIND: Interim Dividend - Rs. - 2.00
VESUVIUS: Final Dividend - Rs. - 12.75

12-Apr-24
MOLDTECH: Interim Dividend - Rs. - 2.00
SHK: Interim Dividend - Rs. - 0.75
MOLDTKPAC: Interim Dividend - Rs. - 2.00
GOODLUCK: Interim Dividend - Rs. - 2.00

16-Apr-24
FORTISMLR: Interim Dividend

IPO
---

Buyback
Tips Industries: Ex-Date: 22-Apr-24
Freshtrop Fruits: Open: 08-Apr-24; Close: 16-Apr-24

Bonus
Grauer & Weil (India): Bonus Issue 1:1; Ex-Date: 10-Apr-24
Integrated Industries: Bonus Issue 1:1; Ex-Date: 16-Apr-24
Anup Engineering: Bonus Issue 1:1; Ex-Date: 23-Apr-24

Stock Split
Sprayking Agro : Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 12-Apr-24
Suratwwala Business : Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 18-Apr-24
Bharat Bijlee: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Apr-24

Right Issue
Tierra Agrotech: Open: 28-Mar-24; Close: 10-Apr-24
Sawaca Business Machines: Open: 02-Apr-24; Close: 12-Apr-24
Balkrishna Paper Mills: Open: 02-Apr-24; Close: 15-Apr-24
Mishtann Foods: Open: 02-Apr-24; Close: 17-Apr-24
Spectrum Foods: Open: 08-Apr-24; Close: 22-Apr-24
Shiva Cement: Open: 22-Apr-24; Close: 06-May-24
Aa Plus Tradelink: Open: 22-Apr-24; Close: 06-May-24

Open Offer
Route Mobile: Open: 27-Mar-24; Close: 12-Apr-24

Stocks Picker Articles

10 Apr 2024 04:50

*Fund Houses Recommendations*


CLSA on *Vedanta:* Upgrade to Buy on Company, raise target price at Rs 390/sh (Positive)

Jefferies on *Godrej Prop:* Maintain Buy on Company, raise target price at Rs 3175/sh (Positive)

MOSL on *MCX:* Upgrade to Buy on Company, raise target price at Rs 4300/sh (Positive)

Emkay on *Shriram Pistons:* Maintain Buy on Company, target price at Rs 2450/sh (Positive)

Antique on *Bharti Airtel:* Initiate Buy on Company, target price at Rs 1505/sh (Positive)

MOSL on *Kolte Patil:* Initiate Buy on Company, target price at Rs 700/sh (Positive)

Jefferies on *Coal India:* Maintain Buy on Company, target price at Rs 520/sh (Positive)

Jefferies on *JSW Steel:* Maintain Hold on Company, raise target price at Rs 900/sh (Positive)

Jefferies on *Tata Steel:* Maintain Buy on Company, raise target price at Rs 200/sh (Positive)

Jefferies on *Hindalco:* Maintain Buy on Company, raise target price at Rs 700/sh (Positive)

CLSA on *Vodafone Idea:* Maintain Sell on Company, target price at Rs 5/Sh (Neutral)

Jefferies on *Indus Tower:* Maintain Underperform on Company, target price at Rs 250/Sh (Neutral)

Stocks Picker Articles

09 Apr 2024 05:36

Forthcoming Event

09th April: VUENOW to consider Dividend; Arman Financial Services to consider Fund Raising

10th April: AEGISCHEM to consider Dividend

11th April: Mitsu Chem Plast, Websol Energy System to consider Fund Raising

12th April: ANANDRATHI, TCS, ASTERDM to consider Dividend; Ami Organics, Paisalo Digital to consider Fund Raising; Anand Rathi to consider Buyback

17th April: ICICIGI, TATACOMM to consider Dividend

18th April: BAJAJ-AUTO, INFY, SWARAJENG to consider Dividend; Sharda Motor Industries to consider Buyback

19th April: ELECON, HDFCAMC, RSSOFTWARE to consider Dividend; Davangere Sugar Company to consider Stock Split

20th April: HDFCBANK to consider Dividend; Vaswani Industries Ltd. to consider Fund Raising

21st April: PERSISTENT to consider Dividend

24th April: ANANTRAJ, LTIM, MAHSCOOTER, NAM-INDIA, SYNGENE to consider Dividend

25th April: BAJFINANCE, LTTS, MPHASIS, TECHM, UTIAMC to consider Dividend

26th April: ATUL, BAJAJFINSV, BAJAJHLDNG, HCLTECH, MAHLIFE, MARUTI, SHREDIGCEM to consider Dividend; Shriram Finance to consider Dividend & Fund Raising; Ksb Limited to consider Stock Split

27th April: CRAFTSMAN, ICICIBANK, L&TFH to consider Dividend

Stocks Picker Articles

09 Apr 2024 04:58

Stock in Action

Titan Company: Titan Company has reported decent 4QFY24 business update with standalone business revenues have grown 17% YoY. While the key jewellery business has maintained a steady growth momentum, the watches and eyecare business has lagged, leading to a marginally lower-than-expected growth, on an overall basis. Titan continues to gain market share in its major jewellery business. Strong new buyer addition and healthy network expansion are helping to maintain the strong performance. Jewellery hallmarking, which is being implemented pan-India, in a phased manner, requires certification of purity, which is leading to a shrinkage of price gap between organised and unorganised players. Apart from the domestic market, Titan is also ramping up the jewellery business in international markets, such as the US and the Gulf region. Titan’s strong brand recall among the Indian diaspora augurs well for its overseas plans. The jewellery business reported a strong 19% YoY growth in Q4FY24. The standalone business reported ~18% growth, while subsidiary Carat Lane posted a relatively higher growth of about 30%. The jewellery business continued to witness a healthy network expansion. The business opened 29 new stores in Q4FY24, reaching an overall count of 665. Positive on Titan Company given the strong growth in key jewellery and emerging categories business.

Voltas: Voltas intends to grow faster than the RAC market over the next few years and gradually improve its market share. In FY24, it registered highest ever AC sales at 2 million units up by 35% YoY. During 4QFY24, it registered volume growth of 72% YoY. With the new Chennai plant commissioning soon, the company is set to ramp up revenue from Southern region. However, management expect EBIT margin to be in the range of 8-8.5%. In the EMP segment, domestic business remains strong however challenges persist in the overseas business, front in Qatar. Voltas largely does component sourcing for RAC and the final product is built in its own factory. Going forward, it will manufacture more products in-house under the PLI scheme at its Chennai factory. Voltas Beko which is improving its market share is set to achieve EBITDA breakeven by FY25 and PAT breakeven in 2-3 years. Voltas expects the RAC industry to grow at 10% CAGR over the next few years and they expect to grow faster than the market with an aim to improve its market share gradually. Voltas has guided for a high single digit margin in the business given rising competition. Company plans to spend Rs 500 crore capex by FY25 for Room AC and commercial refrigeration. Positive on Voltas given its strong 4QFY24 business update.

Stocks Picker Articles

09 Apr 2024 04:46

*Stocks in News*


*TRIL:* Q4 cons net profit 400m rupees vs 90m, Revenue 5.2b rupees vs 4.3b YoY (Positive)

*Sobha:* Company launches Crystal Meadows, a 26-acre row house project in Bengaluru starting at ₹10.5 crore. (Positive)

*NTPC:* Company is eying 5 GW power generation capacity addition in FY25. (Positive)

*ICICI Lombard:* Company recorded 18 percent year-on-year growth for March premium. (Positive)

*Star Health:* Company recorded 18 percent year-on-year growth for March premium. (Positive)

*Bajaj FInserve:* Bajaj Allianz recorded 34 percent year-on-year growth for March premium (Positive)

*RVNL:* Company has established a subsidiary, "RVNL Infra Middle East," in Oman. (Positive)

*Lupin:* Company has received approval from the U.S. FDA to market a generic medication to treat involuntary movements caused by tardive dyskinesia. (Positive)

*SJVN:* Company's arm signs JV agreement with Assam Power Distribution Company. (Positive)

*Dilip Buildcon:* Company gets Rs 1,092.5 crore order from Haryana RailI on EPC mode. (Positive)

*Bajaj Finance:* Company hikes FD rates for most tenures by up to 60 bps; highest rate continues at 8.85% (Neutral)

*Manappuram Fin:* Company's arm Asirvad Micro Finance DRHP remains under process in SEBI (Neutral)

*NIACL:* Company recorded 7.4 percent year-on-year growth for March premium. (Neutral)

*GIC RE:* Company recorded 12.8 percent year-on-year growth for March premium. (Neutral)

*Shilpa Medicare:* Board approves opening of the QIP, floor price at ₹477.33/share (Neutral)

*Sula Vineyards:* Q4 net revenue at Rs 131.8 crore, up 10% year-on-year. (Neutral)

*Gland Pharma:* Nicomac Machinery & RP Advisory Services likely to sell up to 4.4% equity in Gland Pharma, floor price at Rs 1,725/share (Neutral)

*Himatsingka:* Company further invests Rs 16.74 crore in arm Himatsingka Holdings (Neutral)

*UCO Bank:* Total Business at ₹4.50 lk cr vs ₹4.35 lk cr QoQ & vs 4.11 lk cr YoY (Neutral)

*Sterlite Tech:* Company launches QIP to raise Rs 1,000 cr including green shoe of Rs 200 cr. (Neutral)

*Axis Bank:* Bain capital is likely to sell up to 3.34 crore shares in axis bank via block deal, offer size is $431m. (Neutral)

*Jana SFB:* Rajesh Rao resigns as Chief Operating Officer (COO) of Jana Small Finance Bank. (Neutral)

*Sadbhav Engineering:* Dwigesh B Joshi resigns as ED & CFO of the company. (Neutral)

Stocks Picker Articles

08 Apr 2024 05:25

Corporate Actions

Dividend

08-Apr-24
IMFA: Special Dividend - Rs. - 15.00
PRIMAPLA: Interim Dividend - Rs. - 2.00
SUNTV: Interim Dividend - Rs. - 3.00

10-Apr-24
DCMSRIND: Interim Dividend - Rs. - 2.00
VESUVIUS: Final Dividend - Rs. - 12.75

12-Apr-24
MOLDTECH: Interim Dividend - Rs. - 2.00
SHK: Interim Dividend - Rs. - 0.75
MOLDTKPAC: Interim Dividend - Rs. - 2.00
GOODLUCK: Interim Dividend - Rs. - 2.00

16-Apr-24
FORTISMLR: Interim Dividend

IPO
---

Buyback
Tips Industries: Ex-Date: 22-Apr-24
Freshtrop Fruits: Open: 08-Apr-24; Close: 16-Apr-24

Bonus
Promax Power: Bonus Issue 1:1; Ex-Date: 08-Apr-24
Grauer & Weil (India): Bonus Issue 1:1; Ex-Date: 10-Apr-24
Integrated Industries: Bonus Issue 1:1; Ex-Date: 16-Apr-24
Anup Engineering: Bonus Issue 1:1; Ex-Date: 23-Apr-24

Stock Split
Sprayking Agro : Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 12-Apr-24
Suratwwala Business : Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 18-Apr-24
Bharat Bijlee: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Apr-24

Right Issue
Tierra Agrotech: Open: 28-Mar-24; Close: 10-Apr-24
Sawaca Business Machines: Open: 02-Apr-24; Close: 12-Apr-24
Balkrishna Paper Mills: Open: 02-Apr-24; Close: 15-Apr-24
Mishtann Foods: Open: 02-Apr-24; Close: 17-Apr-24
Spectrum Foods: Open: 08-Apr-24; Close: 22-Apr-24
Shiva Cement: Open: 22-Apr-24; Close: 06-May-24
Aa Plus Tradelink: Open: 22-Apr-24; Close: 06-May-24

Open Offer
Route Mobile: Open: 27-Mar-24; Close: 12-Apr-24

Stocks Picker Articles

08 Apr 2024 05:01

*Fund Houses Recommendations*


Jefferies on *Kaynes:* Initiate Buy on Company, target price at Rs 2900/Sh (Positive)

Jefferies on *Syrma SGS:* Initiate Buy on Company, target price at Rs 640/Sh (Positive)

Nomura on *IDFC First Bank:* Maintain Buy on Bank, target price at Rs 100/Sh (Positive)

HSBC on *Kalyan Jewel:* Maintain Buy on Company, raise target price at Rs 500/Sh (Positive)

Citi on *Kalyan Jewel:* Maintain Buy on Company, raise target price at Rs 500/Sh (Positive)

Citi on *Info Edge:* Upgrade to Buy on Company, raise target price at Rs 6650/Sh (Positive)

Nomura on *Info Edge:* Maintain Buy on Company, raise target price at Rs 6210/Sh (Positive)

Citi on *Chola Invest:* Maintain Buy on Company, target price at Rs 1510/Sh (Positive)

Jefferies on *Chola Invest:* Maintain Buy on Company, target price at Rs 1400/Sh (Positive)

Citi on *Zomato:* Maintain Buy on Company, raise target price at Rs 220/Sh (Positive)

Nomura on *Voltas:* Maintain Buy on Bank, raise target price at Rs 1450/Sh (Positive)

CLSA on *Titan:* Maintain Buy on Company, target price at Rs 4574/sh (Positive)

GS on *Godrej CP:* Maintain Buy on Company, raise target price at Rs 1425/Sh (Positive)

Citi on *Godrej CP:* Maintain Buy on Company, target price at Rs 1350/Sh (Positive)

Macquarie on *Marico:* Maintain Outperform on Company, target price at Rs 600/Sh (Positive)

MS on *Marico:* Maintain Equal weight on Company, target price at Rs 533/Sh (Positive)

CLSA on *Marico:* Maintain Sell on Company, target price at Rs 451/Sh (Neutral)

MS on *Godrej CP:* Maintain Equal weight on Company, target price at Rs 1089/Sh (Neutral)

Citi on *Titan:* Maintain Buy on Company, cut target price at Rs 3850/Sh (Positive)

MS on *Titan:* Maintain Equal weight on Company, target price at Rs 3290/sh (Neutral)

JP Morgan on *Titan:* Maintain Overweight on Company, target price at Rs 3950/sh (Neutral)

MS on *IDFC First:* Maintain Underweight on Bank, target price at Rs 125/Sh (Neutral)

Nomura on *Chola Invest:* Maintain Reduce on Company, target price at Rs 1000/Sh (Neutral)

JP Morgan on *Wipro:* Maintain Neutral on Company, cut target price at Rs 480/sh (Neutral)

Jefferies on *Wipro:* Maintain Underperform on Company, target price at Rs 470/sh (Neutral)

MS on *Wipro:* Maintain Underweight on Company, target price at Rs 450/sh (Neutral)

Nomura on *Wipro:* Maintain Reduce on Company, target price at Rs 410/sh (Negative)

Jefferies on *Bandhan Bank:* Downgrade to Underperform on Company, target price at Rs 170/sh (Negative)

Stocks Picker Articles

08 Apr 2024 04:22

*Stocks in News*


*Force Motors:* March Auto Sales up 34% at 3248 units YoY (Positive)

*Dr Reddy's:* Company inks pact with Bayer to market a second brand of Vericiguat, a drug indicated for chronic heart failure. (Positive)

*Indiabulls Real Estate:* Company to raise Rs 3911cr via preferential allotment-Floor price Rs 111.51/share (Positive)

*Tata Steel:* Company Q4 crude steel production stood at 5.38 MT vs 5.15 MT, up 4.5% year-on-year. (Positive)

*Kalyan Jewellers:* Company has reported a 34% increase in consolidated revenue for the quarter-ended March and a 31% growth in FY24. (Positive)

*RITES:* Company partners with IIT Madras for innovation in green energy (Positive)

*Shalby:* Company availing enhanced banking facilities up to Rs 168.53 crore from IndusInd Bank (Positive)

*TFCIL:* Company has approved allotment of 22,23,000 equity shares of at price of Rs 225 to Mr Aditya Kumar Halwasiya (Positive)

*Aster DM:* Board meeting on april 12 to consider declaration of interim dividend for the financial year 2023-24 (Positive)

*Galaxy Surfactants:* Company says incorporated unit namely Galaxy Specialties Europe B.V. (Positive)

*Greaves:* Signs tech transfer agmt with Tsuyo to manufacture components designed for low-speed 3-wheelers (Positive)

*Utkarsh SFB:* Collection efficiency for bank’s micro banking loan portfolio was 97.6% for Q4 (Positive)

*Mahindra EPC:* Company awarded contracts worth 132m rupees for supply of micro irrigation systems. (Positive)

*Voltas:* Company posts highest-ever AC sale of two million units in FY24 aided by consistent demand for cooling products (Positive)

*Nykaa:* Company expects revenue growth over 25% for the March quarter (Positive)

*Cochin Shipyard:* Company signs MSRA with US Navy to repair US Naval Vessels under Military Sealift Command. (Positive)

*Adani Wilmar:* Company registered a double-digit volume growth in both the edible oils and foods business in the March quarter. (Positive)

*Chola Inv:* Disbursements up 17% at Rs 24,600 cr vs Rs 21,020 cr, FY24 disbursements up 33% at Rs 88,300 cr vs Rs 66,532 cr. (Positive)

*Gulshan Poly:* Company receives order from BPCL and HPCL for supply of ethanol (Positive)

*Tata Steel:* India production up 4.5% at 5.38 mt vs 5.15 mt (YoY) India deliveries up 5% at 5.41 mt vs 5.15 mt (YoY) (Positive)

*Vodafone Idea:* Board approves Issuance of 139.5 Crore Shares at Rs 14.87/ Share – Aggregating Rs 2075 Crores to Oriana Investments (Positive)

*Vedanta:* BlackRock, ADIA, domestic funds hike stake in Vedanta (Positive)

*Gland Pharma:* Company gets U.S. FDA approval for Eribulin Mesylate injection (Positive)

*Selan:* Investor Dolly Khanna name appears with 1.03% stake in co during Q4 (Positive)

*Aurobindo Pharma:* Company appoints Mr. T Vijaya Kumar as President, R & D w.e.f from April 5, 2024 (Positive)

*Adani Green:* Adani begins commercial output of wafers, ingots for solar power (Positive)

*Signature Global:* FY24 pre-sales grow 112% to Rs 7270 cr, collections rise 62% to Rs 3110 cr (Positive)

*Strides:* US FDA concludes cGMP inspection at Stride Pharma’s Alathur, Chennai facility with 2 observation (Neutral)

*Landmark:* Company has incorporated wholly owned subsidiary landmark premium cars (Neutral)

*GEPIL:* Company secures a purchase order from MRPL for Spares for STG, valued at INR 10.1 Crores. (Neutral)

*RR Kabel:* Company promoter Sumeet Kabra sells 4.03% stake to Esses Family Private Trust & Esses Shares Family Private Trust (Neutral)

*JSW Energy:* Company raises Rs 5,000 crore via QIP at an issue price of Rs 485/share. (Neutral)

*Aurobindo Pharma:* Company says the U.S. health regulator has issued three observations after inspecting the Andhra Pradesh-based manufacturing unit of its subsidiary. (Neutral)

*Indiamart Intermesh:* Company re-appoints Dinesh Chandra Agarwal as MD & CEO. (Neutral)

Stocks Picker Articles

16 Apr 2024 05:08

Stock in Action

TCS: TCS 4QFY24 margins came ahead of expectations, while revenue missed the estimates. Revenue grew by a sequential 1.1% in reported currency, the highest in the past four quarters and was aided by verticals such as Manufacturing, Energy Utility, and Regional Markets. However, BFSI (banking financial services and insurance), retail, technology, and communications remained key drags. In terms of markets, the largest market of North America contracted, whereas Latin America and the UK were supportive. TCS reported a sequential jump of 100 basis points in operating margin on top of the 75-basis-point sequential jump in the previous quarter. Operating margin at 26% is now at the aspirational 26-28% band. The management feels that the benefits of operating leverage, coupled with gains from productivity, utilisation, and realisation (pricing), are levers that could make it possible to improve margins, although sub-contracting costs have bottomed. Aided by one mega deal and several smaller deals cutting across sectors and geographies, TCS reported a record deal win of $13.2 billon in the quarter. For the fiscal year FY24, the total deal win of $42.7 billion represents a YoY growth of over 25% and provides strong revenue visibility for FY25. Supply-side pressures have decisively abated with attrition declining sequentially from 13.3% to 12.5%. Positive on TCS as the company delivered better than expected 4QFY24 numbers mainly on margins and orders.

Senco Gold: With the gold prices continuously rising towards the end of Q4 and hitting new high in the beginning of FY'25, Senco Gold has shown positive signs from their Q4 business updates they have recently published, they have a optimistic outlook for FY 24-25 , starting from Q1, FY 25 believing the local festivals and the Indian traditional values can act as catalyst for growth. During FY'24 they have launched 23 new showrooms, which Is a growth of 17% Year on Year basis and in the Q4 they opened by 4 new showrooms to form a portfolio of total 159 showrooms. They have recorded a 28% growth in Revenue Year on Year basis for FY'24 led by 13% volume growth in Gold and 19% volume growth in diamond in full year. Also they have become the first Indian Jewellery brand to join the ONDC Network, which can be very helpful in the growth prospect as it will give them access to be on multiple shopping apps within the growing ONDC network. Positives on Senco Gold as it has shown growth potential in the last quarter and also has a positive outlook for FY'25. Also joining ONDC may help them achieving their growth targets.

Stocks Picker Articles

15 Apr 2024 05:14

Forthcoming Event

15th April: ATAM, GTPL, RAJOOENG to consider Dividend; Family Care Hospitals, Uravi T and Wedge Lamps to consider Fund Raising

16th April: CRISIL to consider Dividend; PC Jeweller, Satin Creditcare Network, Sobhagya Mercantile, Creditcare Network to consider Fund Raising

17th April: ICICIGI, TATACOMM to consider Dividend; Vantage Knowledge Academy to consider Stock Split & Fund Raising; Setco Automotive to consider Fund Raising

18th April: BAJAJ-AUTO, EIMCOELECO, INFY, MASTEK, RIIL, RSSOFTWARE, SWARAJENG to consider Dividend; Sharda Motor Industries to consider Buyback; Indo Thai Securities to consider Fund Raising

19th April: BENARAS, ELECON, HDFCAMC to consider Dividend; Davangere Sugar Company, Elecon Engineering Company to consider Stock Split; Premier Explosives to consider Stock Split & Fund Raising; Inertia Steel, Sonalis Consumer Products, Swagtam Trading & Services to consider Fund Raising

20th April: BEPL, HDFCBANK to consider Dividend; Vaswani Industries to consider Fund Raising

22nd April: EPIGRAL, PERSISTENT, RALLIS to consider Dividend; Rama Steel Tubes to consider Fund Raising

23rd April: MCX, NELCO, TATACONSUM, TATAELXSI to consider Dividend; Mahindra & Mahindra Financial Services to consider Fund Raising

24th April: ANANTRAJ, DALBHARAT, EQUITASBNK, LTIM, MAHSCOOTER, NAM-INDIA, SYNGENE, TATAINVEST to consider Dividend

25th April: BAJFINANCE, EMBASSY, LTTS, MPHASIS, NESTLEIND, SDBL, TECHM, UTIAMC, ZENSARTECH to consider Dividend; Aavas Financiers to consider Fund Raising

26th April: ATUL, BAJAJFINSV, BAJAJHLDNG, HCLTECH, MAHLIFE, MARUTI, PAISALO, PONNIERODE, SHREDIGCEM to consider Dividend; Shriram Finance to consider Dividend & Fund Raising; Ksb Ltd to consider Stock Split; Dipna Pharmachem to consider Bonus issue & Stock Split

27th April: CRAFTSMAN, ICICIBANK, L&TFH, SESHAPAPER to consider Dividend

29th April: KFINTECH, KPITTECH, LGBBROSLTD, POONAWALLA, ULTRACEMCO to consider Dividend

30th April: EXIDEIND, IOC to consider Dividend

Stocks Picker Articles

15 Apr 2024 05:14

Stock in Action

Gland Pharma: Gland Pharma's business witnessed a smart recovery in the previous fiscal, backed by new products, market share gains, and drug shortages in the key geography – the US. Gland Pharma performance has to be seen in two buckets – legacy business and that of the Cenexi. The legacy business faced challenges related to competition and supply chain in FY23 but showcased recovery in the current fiscal. In the 9M FY24, the top line grew by 6% and the last quarter witnessed a sequential jump of 9%. Sequentially the growth was supported by volume growth and stable pricing in the US business, which constituted 73% of the legacy business and grew by 12% QoQ. At the consolidated level (Including Cenexi), the share of the US business is 53%. Among key molecules which contributed to growth are Ketorolac, Enoxaparin and Carboplatin, which also got supported by drug shortages in the US. Notably, the company had launched chemotherapy drugs, Cisplatin and Carboplatin, a few quarters back. Now, the company commands a 55% market share. The management mentions that Cenexi has a decent clientele and the order book can be leveraged for an incremental revenue to the order of 30 million to 50 million euros. Gland Pharma’s US business is likely to see a continuity of operational momentum on the back of new launches, foray into complex injectables and stable pricing. Positive on Gland Pharma given a strong synergy opportunity available with Cenexi as it has an advanced injectables technology.

Subros: Subros Ltd, a manufacturer of auto AC systems, is benefitting from the demand buoyancy in the passenger vehicle (PV) and the commercial vehicle (CV) segments, waning supply-side constraints, softening raw material prices, and rising opportunities as air-conditioners (ACs) in truck cabins have becoming mandatory. The fortunes of Subros are directly linked to the growth of the PV industry, the outlook of which seems very encouraging, not only in the medium to long term, but also in the near term. The management has indicated that demand momentum, especially for SUVs, is likely to continue. The shifting consumer behaviour towards SUVs will continue to be a growth trigger for Subros as the PV segment is key for the company. Moreover, Maruti is seeing a strong demand on the back of new launches, particularly in the SUV segment. This is expected to augur well for Subros. The company continues to supply for Maruti’s recent launches. The industry is showing a strong upward momentum as far as CVs are concerned, too. With the government’s focus on infrastructure and the introduction of the scrappage policy, demand is expected to remain buoyant for CVs. The company is actively looking at the truck AC business for the N2 and N3 categories, where ACs have been made mandatory from June 2025. The management has highlighted that localisation is now at 76%, while the remaining 24% is imports. Positive on Subros given the demand continues to be strong on the back of healthy demand for SUVs and mandatory ACs in trucks offer significant opportunities.

Stocks Picker Articles

15 Apr 2024 04:46

*Stocks in News*


*Granules:* Unit V facility located at Anakapally gets zero Form 483 observations from USFDA. (Positive)

*ISMT:* Company received 2 contracts from ONGC to supply products worth ₹343.72 cr. (Positive)

*RVNL:* Company received LoA worth 95.95 cr for new line project of Araria - Galgalia of N.F. railway (Positive)

*Mphasis:* Company has signed a multi-year global strategic collaboration agreement with Amazon Web Services (AWS). (Positive)

*Varun Beverages:* Starts commercial production of carbonated soft drinks, energy drinks at Gorakhpur (Positive)

*Lemon Tree:* Announces the opening of A Lemon Tree Resort, in Chitwan, Nepal. (Positive)

*Metal stocks:* US imposes sanctions on use of Russian metals on exchanges (Positive)

*GAIL/Petronet/NTPC/GIPCL:* Government invokes section 11 of the Electricity Act. India will operationalize gas-based power plants to meet summer electricity demand (Positive)

*Ambuja/ACC:* Adani Cement sees 16% growth, eyes 140 mn tn/year capacity by 2028 (Positive)

*Engineers India:* Company inks MoU with Detect Technologies for real-time AI-based monitoring for implementing safe practices at construction sites (Positive)

*Coal India:* Government sets target of producing 170 million tonnes of coal from captive and commercial coal blocks in FY25. (Positive)

*Dixon Technologies:* Company partners with France's Dassault Systèmes to streamline operations. (Positive)

*Zuari Ind:* NCLT approves merger of Zuari Sugar and Power with Company. (Positive)

*AsterDM:* Company's board declares special dividend of Rs 118/share (Positive)

*HFCL:* Company's subsidiary HTL bags order of around Rs 65 crore to supply optical fibre cables (Positive)

*Senco Gold:* Company achieved 28% YoY Revenue growth in full year; and 39% YoY in Q4 (Positive)

*Kolte-Patil:* Company clocked Highest-ever annual sales value of ₹2,822 crore, a growth of 26% from last year. (Positive)

*Harsha Eng:* Company has been appointed as the exclusive authorized agency of Umbra Group for repair, marketing, promotion, and sale of manufactured components. (Positive)

*Zaggle:* Entered into an agreement with Eversub India Private Limited. (Positive)

*Grindwell:* Commencement of the Engineered Ceramics facility at plant located in Halol. (Positive)

*PowerGrid:* Company to consider raising up to Rs 12,000 crore via NCDs in FY25 on April 17 (Neutral)

*Shilpa Medicare:* QIP closes, board approves allocation of 1.09 cr shares at ₹455/sh (Neutral)

*Patanjali Foods:* Q4 Revenue from edible oil segment showed modest single-digit growth QoQ. (Neutral)

*Reliance Power:* Co concludes slump sale of its 45 MW Wind Power Project to JSW Renewable Energy (Neutral)

*Sterlite Tech:* QIP closes, board approves allocation of 8.84 cr shares at ₹113.05/sh (Neutral)

*Adani Ent:* Adani Global, Mauritius will acquire 49% stake in Adani Esyasoft Smart Solutions, Abu Dhabi from UAE-based Esyasoft Holding. (Neutral)

*Ami Organics:* Company approves raising up to Rs 500 crore via QIP. (Neutral)

*IIFL Finance:* Board to meet on April 17 to mull fundraising. (Neutral)

*TCS:* Rupee Revenue at Rs 61,237 crore versus pool of Rs 61459 crore, EBIT seen at Rs 15,918 crore versus poll of Rs 15,504 crore (Neutral)

*HDFC Bank;* Japan’s Bank of Tokyo-Mitsubishi UFJ (MUFG) set to buy a 20% stake in HDB Financial Services (Neutral)

*Coforge:* Consider Fund Raising Via Non-Convertible Bonds Worth Rs 340 Crores (Neutral)

*HUL/Dabur/Zydus well:* Commerce Min issues advisory to all e-commerce websites to remove all drinks/beverages from the category of health drinks on their platforms. (Negative)

*Godrej Agrovet:* Company gets assessment order worth Rs 115 crore. (Negative)

*BhartiHexa:* Sanjeev Kumar and Surajit Mandol resign from company's board. (Negative)

Stocks Picker Articles

12 Apr 2024 05:36

Corporate Actions

Bharti Hexacom is set to debut on the bourses on April 12. The final issue price has been fixed at Rs. 570 per share.

Bhagiradha Chemicals has received approval from the board of directors for the sub-division or split of the existing one equity share (of a face value of Rs 10 each) of the company into 10 equity shares (of a face value of Rs 1 each).

Vodafone Idea’s Rs 18,000 crore FPO to open for subscription on April 18 and close on April 22,

Dividend

12-Apr-24
MOLDTECH: Interim Dividend - Rs. - 2.00
SHK: Interim Dividend - Rs. - 0.75
MOLDTKPAC: Interim Dividend - Rs. - 2.00
GOODLUCK: Interim Dividend - Rs. - 2.00

16-Apr-24
FORTISMLR: Interim Dividend

IPO
---

Buyback
Tips Industries: Ex-Date: 22-Apr-24
Freshtrop Fruits: Open: 08-Apr-24; Close: 16-Apr-24

Bonus
Integrated Industries: Bonus Issue 1:1; Ex-Date: 16-Apr-24
Anup Engineering: Bonus Issue 1:1; Ex-Date: 23-Apr-24

Stock Split
Sprayking Agro : Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 12-Apr-24
Suratwwala Business : Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 18-Apr-24
Bharat Bijlee: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Apr-24

Right Issue
Sawaca Business Machines: Open: 02-Apr-24; Close: 12-Apr-24
Balkrishna Paper Mills: Open: 02-Apr-24; Close: 15-Apr-24
Mishtann Foods: Open: 02-Apr-24; Close: 17-Apr-24
Spectrum Foods: Open: 08-Apr-24; Close: 22-Apr-24
Shiva Cement: Open: 22-Apr-24; Close: 06-May-24
Aa Plus Tradelink: Open: 22-Apr-24; Close: 06-May-24

Open Offer
Route Mobile: Open: 27-Mar-24; Close: 12-Apr-24

Stocks Picker Articles

12 Apr 2024 04:52

*Fund Houses Recommendations*


CLSA on *PVR:* Maintain Buy on Company, target price at Rs 2280/sh (Positive)

GS on *Credit Access:* Initiate Buy on Company, target price at Rs 1788/sh (Positive)

Nomura on *Lupin:* Maintain Buy on Company, raise target price at Rs 1949/sh (Positive)

Macquarie on *BEL:* Maintain Buy on Company, target price at Rs 280/sh (Positive)

Macquarie on *CUMMINS:* Maintain Buy on Company, target price at Rs 3600/sh (Positive)

Macquarie on *Larsen:* Maintain Outperform on Company, target price at Rs 4400/sh (Positive)

Macquarie on *Carborundum:* Maintain Outperform on Company, target price at Rs 1500/sh (Positive)

Systematix on *Inox Wind:* Maintain Buy on Company, target price at Rs 724/sh (Positive)

JM Fin on *Zomato:* Maintain Buy on Company, raise target price at Rs 260/sh (Positive)

JM Fin on *Bharti Hexacom:* Initiate Buy on Company, target price at Rs 790/sh (Positive)

Jefferies on *Entero Health:* Initiate Buy on Company, target price at Rs 1510/sh (Positive)

Jefferies on *Hindalco:* Maintain Buy on Company, target price at Rs 700/sh (Positive)

GS on *Syngene:* Initiate Buy on Company, target price at Rs 875/Sh (Positive)

GS on *Neuland Labs:* Initiate Buy on Company, target price at Rs 9100/Sh (Positive)

MS on *Phoenix Mills:* Maintain Overweight on Company, target price at Rs 3000/sh (Neutral)

Macquarie on *Siemens:* Maintain Buy on Company, target price at Rs 5575/sh (Neutral)

Macquarie on *ABB:* Maintain Buy on Company, target price at Rs 6550/sh (Neutral)

Macquarie on *BHEL:* Maintain Underperform on Company, target price at Rs 200/sh (Neutral)

Macquarie on *Thermax:* Maintain Underperform on Company, target price at Rs 3550/sh (Neutral)

Incred on *Navin Fluorine:* Downgrade to Add on Company, raise target price at Rs 4050/sh (Neutral)

Investec on *Indigo:* Upgrade to Add on Company, cut target price at Rs 4080/sh (Neutral)

GS on *Laurus Labs:* Initiate Sell on Company, target price at Rs 350/Sh (Neutral)

Nomura on *Chola Invest:* Maintain Reduce on Company, target price at Rs 1000/Sh (Neutral)

Stocks Picker Articles

10 Apr 2024 05:14

Forthcoming Event

10th April: AEGISCHEM to consider Dividend

11th April: Mitsu Chem Plast, Websol Energy System to consider Fund Raising

12th April: ANANDRATHI, TCS, ASTERDM to consider Dividend; Ami Organics, Paisalo Digital to consider Fund Raising; Anand Rathi to consider Buyback

17th April: ICICIGI, TATACOMM to consider Dividend

18th April: BAJAJ-AUTO, INFY, SWARAJENG to consider Dividend; Sharda Motor Industries to consider Buyback

19th April: ELECON, HDFCAMC, RSSOFTWARE to consider Dividend; Davangere Sugar Company to consider Stock Split; Premier Explosives to consider Stock Split & Fund Raising

20th April: HDFCBANK to consider Dividend; Vaswani Industries Ltd. to consider Fund Raising

21st April: PERSISTENT to consider Dividend

24th April: ANANTRAJ, LTIM, MAHSCOOTER, NAM-INDIA, SYNGENE to consider Dividend

25th April: BAJFINANCE, LTTS, MPHASIS, TECHM, UTIAMC to consider Dividend

26th April: ATUL, BAJAJFINSV, BAJAJHLDNG, HCLTECH, MAHLIFE, MARUTI, SHREDIGCEM to consider Dividend; Shriram Finance to consider Dividend & Fund Raising; Ksb Limited to consider Stock Split

27th April: CRAFTSMAN, ICICIBANK, L&TFH to consider Dividend

Stocks Picker Articles

10 Apr 2024 05:02

Stock in Action

Tata Motors: Tata Motors reported positive business updates for Q4FY'24 for the JLR Business. Wholesale Volume for the 4th Quarter grew by 16% compared to Q4 last year driven by Jaguar which grew by 39%, Range Rover by 22% and defender by 5%. And the wholesale for FY'24 grew 25% as compared to the last financial year. Also the retails sales for Q4 went up by 11% as compared to the last year Q4 and by 4% compared to the quarter ended 31st December 2023, This quarter growth was driven by sales in UK which grew by 32%, North America up by 21% and 16% overseas. But in China it went down by 9% and by 2% in Europe as compared to Q4 last year. For the year ending 2024, Retail sales went up by 22% year on year basis. Positive on Tata Motors, JLR sales grew by more than 20% overall implying improved production and sustained global demand.

Godrej Properties: Godrej Properties shows growth in the business update for Q4FY'24 by reporting sales of over 5,000 homes worth Rs. 9,500 crore in Q4FY24. Godrej Properties' bookings for Q4 more than doubles from the previous year, growing by 135% YoY to over Rs. 9500 Crore in Q4. This being the highest ever quarterly sales announced to date by any publicly listed real estate developer in India. The company sold a total of 5,331 homes with a total area of over 8 million sq.ft. Godrej Properties’ bookings for FY'24 grew 84% YoY to over Rs 22,500 crore which is the highest ever annual sales announced to date by any publicly listed real estate developer in India, achived through sale of 14,310 homes with a total area of 20 million sq. ft. It also reported Highest ever quarterly sales in MMR with sales of more than Rs 4,000 crore in Q4FY24. Positive on Godrej Properties, its growth shows higher sales potential moving forward.

Stocks Picker Articles

10 Apr 2024 04:50

*Stocks in News*


*Lupin:* Company launches first generic version of Oracea® (doxycycline capsules) in the United States. (Positive)

*Shyam Metalics:* Company announces expansion into stainless steel flat products. (Positive)

*Oricon:* Company approved sale of co's manufacturing, trading and sale of plastic closures and preforms business in Goa, Odisha (Positive)

*GPIL:* Company says 8 mw bio mass power plant resumed ops with full capacity (Positive)

*Coal India:* Coal ministry wants to get 20 new mines operational by the end of the year. (Positive)

*BEL:* Company is likely to get contract worth Rs 6000 - 6200 cr: media sources (Positive)

*Policy Bazar:* PBFintech incorporates wholly-owned subsidiary PBPay. (Positive)

*Inox Wind:* Company raises its execution target to 800 megawatts for the current financial year. (Positive)

*JSW Energy:* Company aims to reach 20GW capacity ahead of its 2030 target (Positive)

*Axis Bank:* Morgan Stanley, Bank of America, Goldman, CoptHall, Société Generale were major buyers in bock deal (Positive)

*SJVN:* Company's arm signs JV agreement with Assam Power Distribution Company. (Positive)

*Paisalo:* AUM up 32% at ₹4,622 cr as of March 31, 2024, vs ₹3,492 Cr, Disbursements up 38% at ₹3,588 cr as of March 31, 2024, vs ₹2,599 cr YoY. (Positive)

*Blue Star:* Company expects up to 25% growth in sale of residential ACs in the June quarter. (Positive)

*IndiGo:* Company expands Airbus fleet with order of 10 A320 NEO aircraft in March. (Positive)

*Paytm:* Surinder Chawla, MD and CEO of Paytm Payments Bank has tendered his resignation effective June 26. Domestic, foreign funds raise stake even as stock falls 37% in the March quarter (Neutral)

*Maruti Suzuki:* Company to produce both petrol and CNG variants of Ertiga at its new Manesar plant. (Neutral)

*Exide Industries:* Company to acquire 26% stake in Clean Max Arcadia for Rs 5.3 crore. (Neutral)

*ICICI Prudential:* Company gets GST order worth Rs 20.5 crore from Gujarat tax authorities for FY2019. (Neutral)

*RattanIndia Power:* Company's CFO Ankur Mitra resigns effective yesterday (Neutral)

*Protean eGov:* Company likely to launch QIP, aims to raise up to ₹245 crore. (Neutral)

*Aditya Birla Fashion:* Company incorporates new company ‘Aditya Birla Lifestyle Brands’ (Neutral)

*Welspun Living:* NCLT, Ahmedabad approves amalgamation of 5 wholly-owned subsidiaries (Neutral)

*Shivalik Rasayan:* US FDA inspection of Dahej-based API facility of the company ends with 7 observations. (Negative)

*Gateway Distiparks:* Sikander Yadav, Chief Financial Officer (Key Managerial Personnel) of the Company has tendered his resignation. (Negative)

Stocks Picker Articles

09 Apr 2024 05:35

Corporate Actions

Dividend

10-Apr-24
DCMSRIND: Interim Dividend - Rs. - 2.00
VESUVIUS: Final Dividend - Rs. - 12.75

12-Apr-24
MOLDTECH: Interim Dividend - Rs. - 2.00
SHK: Interim Dividend - Rs. - 0.75
MOLDTKPAC: Interim Dividend - Rs. - 2.00
GOODLUCK: Interim Dividend - Rs. - 2.00

16-Apr-24
FORTISMLR: Interim Dividend

IPO
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Buyback
Tips Industries: Ex-Date: 22-Apr-24
Freshtrop Fruits: Open: 08-Apr-24; Close: 16-Apr-24

Bonus
Grauer & Weil (India): Bonus Issue 1:1; Ex-Date: 10-Apr-24
Integrated Industries: Bonus Issue 1:1; Ex-Date: 16-Apr-24
Anup Engineering: Bonus Issue 1:1; Ex-Date: 23-Apr-24

Stock Split
Sprayking Agro : Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 12-Apr-24
Suratwwala Business : Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 18-Apr-24
Bharat Bijlee: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Apr-24

Right Issue
Tierra Agrotech: Open: 28-Mar-24; Close: 10-Apr-24
Sawaca Business Machines: Open: 02-Apr-24; Close: 12-Apr-24
Balkrishna Paper Mills: Open: 02-Apr-24; Close: 15-Apr-24
Mishtann Foods: Open: 02-Apr-24; Close: 17-Apr-24
Spectrum Foods: Open: 08-Apr-24; Close: 22-Apr-24
Shiva Cement: Open: 22-Apr-24; Close: 06-May-24
Aa Plus Tradelink: Open: 22-Apr-24; Close: 06-May-24

Open Offer
Route Mobile: Open: 27-Mar-24; Close: 12-Apr-24

Stocks Picker Articles

09 Apr 2024 04:47

*Fund Houses Recommendations*


JP Morgan on *Exide:* Maintain Overweight on Company, raise target price at Rs 480/sh (Positive)

MS on *Maruti:* Maintain Overweight on Company, raise target price at Rs 14322/sh (Positive)

BofA on *Infosys:* Upgrade to Buy on Company, raise target price at Rs 1785/sh (Positive)

Antique on *LIC Housing:* Upgrade to Buy on Company, raise target price at Rs 1160/sh (Positive)

Antique on *SBI Life:* Maintain Buy on Company, raise target price at Rs 1910/sh (Positive)

Antique on *Max Fin:* Maintain Buy on Company, raise target price at Rs 1280/sh (Positive)

Antique on *HDFC Life:* Maintain Buy on Company, target price at Rs 760/sh (Positive)

Citi on *PI Ind:* Maintain Buy on Company, target price at Rs 4500/Sh (Positive)

MS on *Can Fin Home:* Maintain Overweight on Company, target price at Rs 1000/sh (Positive)

MS on *Reliance Ind:* Maintain Overweight on Company, target price at Rs 3046/sh (Positive)

CLSA on *REC:* Maintain Buy on Company, target price at Rs 540/Sh (Positive)

Nuvama on *TRIL:* Maintain Buy on Company, raise target price at Rs 575/Sh (Positive)

Emkay on *VRL Logistics:* Maintain Buy on Company, target price at Rs 800/Sh (Positive)

Emkay on *TCI Express:* Maintain Add on Company, target price at Rs 525/Sh (Positive)

Emkay on *Delhivery:* Maintain Buy on Company, target price at Rs 525/Sh (Positive)

Jefferies on *Grasim:* Maintain Buy on Company, raise target price at Rs 2600/Sh (Positive)

Citi on *HUL:* Maintain Buy on Company, target price at Rs 2750/Sh (Positive)

Jefferies on *360 one:* Initiate Buy on Company, target price at Rs 900/Sh (Positive)

Jefferies on *Nuvama:* Initiate Buy on Company, target price at Rs 6000/Sh (Positive)

Citi on *JSPL:* Maintain Sell on Company, target price at Rs 685/Sh (Neutral)

Macquarie on *Tata Motors:* Maintain Outperform on Company, target price at Rs 1028/Sh (Neutral)

MS on *Tata Motors:* Maintain Overweight on Company, target price at Rs 1013/sh (Positive)

BofA on *PayTM:* Maintain Underperform on Company, target price at Rs 400/sh (Neutral)

Citi on *Colgate:* Maintain Sell on Company, target price at Rs 2200/Sh (Neutral)

Emkay on *Bluedart:* Maintain Reduce on Company, target price at Rs 6350/Sh (Neutral)

Stocks Picker Articles

08 Apr 2024 05:26

Forthcoming Event

08th April: FORTISMLR, GUJTLRM, TRIL to consider Dividend; Vantage Knowledge Academy to consider Stock Split; Aurionpro Solutions, Janus Corporation, Oxygenta Pharmaceutical, Sakuma Exports Ltd. to consider Fund Raising

09th April: VUENOW to consider Dividend; Arman Financial Services to consider Fund Raising

10th April: AEGISCHEM to consider Dividend

11th April: Mitsu Chem Plast, Websol Energy System to consider Fund Raising

12th April: ANANDRATHI, TCS, ASTERDM to consider Dividend

17th April: ICICIGI, TATACOMM to consider Dividend

18th April: BAJAJ-AUTO, INFY, SWARAJENG to consider Dividend

19th April: ELECON, HDFCAMC, RSSOFTWARE to consider Dividend; Davangere Sugar Company to consider Stock Split

20th April: HDFCBANK to consider Dividend; Vaswani Industries Ltd. to consider Fund Raising

21st April: PERSISTENT to consider Dividend

24th April: ANANTRAJ, LTIM, MAHSCOOTER, NAM-INDIA, SYNGENE to consider Dividend

25th April: BAJFINANCE, LTTS, MPHASIS, TECHM, UTIAMC to consider Dividend

26th April: ATUL, BAJAJFINSV, BAJAJHLDNG, HCLTECH, MAHLIFE, MARUTI, SHREDIGCEM to consider Dividend; Shriram Finance to consider Dividend & Fund Raising

27th April: CRAFTSMAN, ICICIBANK, L&TFH to consider Dividend

Stocks Picker Articles

08 Apr 2024 05:01

Stock in Action

Cyient DLM: Cyient DLM is mainly focused on aerospace and defence and works with a select set of clients, like ABB, Honeywell, Thales, and Bharat Electronics. It has specialised capabilities, which are difficult to replicate, and therefore make client relationships sticky. Cyient DLM has, historically, grown above the industry rate, mainly by gaining wallet share from its clients and is well placed to maintain this momentum, driven by multiple growth themes such as aerospace platform upgrades, higher defence spending in Europe, and rising Indian defence exports. The Indian EMS market is expected to grow at a CAGR of 32% over the next 3-5 years. Within this, aerospace and defence demand growth is expected to be higher than the overall EMS market, and, hence, Cyient DLM is in a favourable situation. Order intake in Q3FY24 alone stood at $41.8 million (Rs 347 crore) and won a $10 million new award to be spread over 3-4 years. Positive on Cyient DLM given the immense opportunity in defense space.

SBFC Finance: SBFC Finance has posted solid performance in the nine-month period ended December 2023 (9M FY24), cashing in on the MSME credit growth cycle and under-penetration. Strong AUM and disbursement growth momentum continued in the 9M FY24, backed by strong sector tailwinds in the SME space. There is a huge runway for growth for SBFC, given the big market opportunity and a small asset base. SBFC expects the MSME share in the AUM mix to increase to 85%, growing sequentially in the range of 5-7% on a sustainable basis. Moreover, SBFC plans to co-originate 15-20% of the disbursals as the company scales up its business. The favourable asset mix will aid faster growth. SBFC could maintain the spread in the range of 7.5% on the back of variable interest MSME loans, while the benefit from the movement toward lower ticket-size MSME loans aided yields and the rating upgrade supported NIMs. The company has a very high capital adequacy ratio of 41.5%. SBFC plans to add 25-30 odd branches annually, with a rising share of co-origination loans. Positive on SBFC Finance as the segment’s growth and operating leverage are key drivers to the return on assets (RoA).

Stocks Picker Articles

08 Apr 2024 04:22

*Tata Power:* Company has acquired 100% equity stake in Jalpura Khurja Power Transmission Limited for Rs 3.86 crore. (Neutral)

*Godrej CP:* The FMCG reported organic business volume growth at high-single-digit. (Neutral)

*Dalmia Bharat:* Company’s subsidiary is set to acquire 18.13% equity share capital of O2 Renewable Energy V Pvt Ltd for Rs. 7.81 Cr. (Neutral)

*Info Edge Q4:* Standalone billings at ₹826.9 cr vs ₹748.6 cr YoY. (Neutral)

*Titan:* Company revenue rose 17% year-on-year; Net added 86 stores in Q4, emerging businesses up 24% year-on-year, added 11 new stores. (Neutral)

*Bank of Baroda:* Domestic deposits stand at Rs 11.3 lakh crore, up 7.75% year-on-year, global deposits stand at Rs 13.3 lakh crore, up 10.2% year-on-year. (Neutral)

*Bank India:* Total Business (Global) at ₹13.23 lk cr vs ₹12.73 lk Cr QoQ & vs ₹11.85 lk cr YoY (Neutral)

*PNB:* Total Business up 2.9% QoQ & 8.8% YoY, Total Deposits up 3.5% QoQ & 7% YoY (Neutral)

*Union Bank:* Total Business (Global) up 2.80% QoQ & 10.31% YoY, Total Deposits (Global) up 4.19% QoQ & Up 9.29% YoY (Neutral)

*LIC Housing Finance:* Company Fined for Rs 49.7 lakh for violating fair practices code norms by RBI. (Neutral)

*J&K Bank:* Pratik D Punjabi resigns as Chief Financial Officer of the bank (Neutral)

*Vijaya:* CANARA Robeco Small cap fund sold 692,000 Shares at Rs 664/ Share (Neutral)

*Bandhan Bank:* Chandra Shekhar Ghosh to retire as MD and CEO of Bandhan Bank upon tenure completion (Negative)

*United Breweries:* Company receives tax demand of over Rs 263.70 crore. (Negative)

*CESC:* Company gets GST demand order of Rs 108.1 crore including the tax and penalty. (Negative)

*Wipro:* Thierry Delaporte Resigns As MD & CEO effective 6-April (Negative)

*Nestle:* Company approved payment of general license fees by the company to Nestle S.A. at the rate not exceeding 5.25% (Negative)

Stocks Picker Articles

05 Apr 2024 05:26

Forthcoming Event

05th April: Vaswani Industries, Crown Lifters, Artemis Medicare Services, Indiabulls Real Estate to consider Fund Raising

06th April: Embassy Office Parks REIT, Vodafone Idea to consider Fund Raising

08th April: Vantage Knowledge Academy to consider Stock Split; Aurionpro Solutions to consider Fund Raising

12th April: TCS to consider Dividend

17th April: ICICIGI to consider Dividend

18th April: BAJAJ-AUTO, INFY to consider Dividend

19th April: HDFCAMC to consider Dividend; Davangere Sugar Company to consider Fund Raising

20th April: HDFCBANK to consider Dividend