Stocks Picker Articles

25 Jun 2024 04:50

*Fund Houses Recommendations*


Nuvama on *Krystal:* Initiate Buy on Company, target price at Rs 1369/Sh (Positive)

CLSA on *Star Health:* Maintain Buy on Company, target price at Rs 715/Sh (Positive)

Bernstein on *HDFC Bank:* Maintain Buy on Bank, target price at Rs 2100/Sh (Positive)

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

CLSA on *Zomato:* Maintain Buy on Company, target price at Rs 248/Sh (Positive)

MS on *L&T:* Maintain Overweight on Company, target price at Rs 3857/Sh (Positive)

Axis on *TBO Tek:* Initiate Buy on Company, target price at Rs 1920/Sh (Positive)

Investec on *Amara Raja:* Partnership with Gotion to boost Lithium-ion cell manufacturing capabilities (Positive)

JP Morgan on *Amara Raja:* Maintain Neutral on Company, target price at Rs 1210/Sh (Neutral)

Citi on *Tech Mahindra:* Maintain Sell on Company, target price at Rs 1150/Sh (Neutral)

Stocks Picker Articles

24 Jun 2024 05:13

*Fund Houses Recommendations*


GS on *TBOTEK:* Initiate Buy on Company, target price at Rs 1970/Sh (Positive)

Kotak on *Apollo Hospitals:* Maintain Add on Company, target price at Rs 6735/Sh (Positive)

Nuvama on *MGL:* Maintain Buy on Company, target price at Rs 1670/Sh (Positive)

Emkay on *Ujjivan SFB:* Maintain Buy on Company, target price at Rs 65/Sh (Positive)

MOSL on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1350/Sh (Positive)

MS on *Zomato:* Maintain Overweight on Company, target price at Rs 235/Sh (Positive)

MS on *IGL:* Maintain Overweight on Company, target price at Rs 575/Sh (Positive)

MS on *Infra Stocks:* Forecasts 15.3% CAGR in Indian infrastructure investments over next five years (Positive)

MS on Internet Stocks: Despite a sharp re-rating we are still constructive on India internet stocks. *Zomato and PB Fintech* top picks (Positive)

Jefferies on *Havells:* Maintain Hold on Company, target price at Rs 1800/Sh (Neutral)

Citi on *MGL:* Maintain Buy on Company, target price at Rs 1550/Sh (Neutral)

Stocks Picker Articles

24 Jun 2024 04:54

*Prestige Estates:* Company board approves raising up to Rs 5,000 crore via QIP (Neutral)

*L&T:* Commissioner of CGST & CX Howrah Commissionerate levies penalty of Rs 5.9 crore. (Neutral)

*PNB Housing Finance:* Asia Opportunities V (Mauritius) Cuts 2.46% Stake in Pnb Housing Finance To 5.19% (Neutral)

*Craftsman:* Company approves allotment of 27.3 lakh shares to eligible QIB at issue price of Rs 4,400/share (Neutral)

*Ami Organics:* Company approves issue & allotment of 32.3 lakh shares to eligible QIB at issue price of Rs 1,240/share

*Reliance Industries:* Shareholders approve reappointment of Saudi Aramco Chairman Yasir Othman H Al-Rumayyan as independent director. (Neutral)

*Biocon:* U.S. FDA concludes GMP inspection of API facility at Visakhapatnam with four observations (Neutral)

*EIH:* Kallol Kundu resigns from the post of EIH's CFO with effect from September 25 (Neutral)

*Fertiliser Stocks:* GST Council sends request to reduce GST on fertilisers to Group of Ministers GoM on rate rationalisation. (Neutral)

*Tata Steel*: About Company’s 1,500 workers to go on indefinite strike, union says, Bloomberg (Negative)

*Sterlite Technologies:* Company pre-trial mediation with U.S.-based Prysmian Cables unsuccessful. (Negative)

*Astra Zeneca Pharma:* Company unsuccessfully completes exploration phase for search of buyer to act as a Contract Manufacturing Organisation. (Negative)

*CarTrade Tech:* Highdell Investment and Macritichie Investments likely to sell 7% and 3.4% stake respectively on Monday via block deals. (Negative)

Stocks Picker Articles

21 Jun 2024 05:32

Stock in Action

Mahindra & Mahindra Ltd.: The auto-sector giant recently held an investor day event highlighting its future growth plans. The company’s strategic imperatives include capitalizing on its market leadership in the auto and farm segments and unlocking full potential in its subsidiaries which it terms as “growth gems”. Notably, M&M continued to dominate the SUV category with 20.4% revenue market share in the SUV category in FY24. It clocked in 50,000 bookings for its XUV 3XO model in 60 minutes, 50,000 bookings for its XUV 700 model in 3 hours and 100,000 bookings for its SCORPIO-N model in 30 minutes, which denotes a healthy order book position. According to management, disciplined capital allocation and sharp focus on operating metrics helped generate record cash flows in FY24. The company was able to repay debt of Rs 3,100 crore and delivered ROE of 18.4%. These steps have helped built a foundation to support the next phase of M&M’s growth. It expects to add nine ICE SUVs, seven LCV models comprising 5 ICE & 2 EVs and seven born electric vehicles by 2030. Additionally, being the world’s largest farm tractor manufacturer, M&M believes that the Indian tractor industry has significant headroom for growth, given the scope for farm mechanization and cropping intensity. The company’s PAT has grown at a CAGR of a whopping 84% from FY21 to FY24. It is also the best performing stock in the NIFTY 50 for the period 2002-2024 with a TSR of 29%. Positive on M&M based on its solid FY24 performance, strong product portfolio, significant on-ground channel presence and ability to leverage India scale and synergies.

APL Apollo Tubes Ltd: APL Apollo is a leading branded steel products manufacturer in India and the country’s largest producer of structural steel tubes. It has 11 manufacturing facilities with a capacity to manufacture 3.6mn tpa (tonnes per annum) of structural tubes. APL has an extensive distribution network of warehouses and branch offices in 29 cities across the country, catering to domestic and as many as 20 international markets. Company's 4QFY24 numbers came in line with the consensus estimates. The deterioration in EBITDA spreads for in 4QFY24 was due to higher sales mix of the low margin roofing sheets as compared to the finished tubes which fetch a higher margin. FY25 volume is expected to grow at 20-25%. For the capacity expansion of next 5mn tonnes the capex guided is at Rs 2500-3000 crore. Company is expecting export sales for FY25 to reach around 250kt. Positive on APL Apollo Tubes ltd. given the recovery in capex by both government and private.

Stocks Picker Articles

21 Jun 2024 05:32

Corporate Actions

Bajaj Consumer Care has fixed the record date for determining the names of equity shareholders for the buyback on July 2.

Aartech Solonics has approved the proposal of alteration in the capital of the Company by sub-division/ split of existing equity share of the Company from 1 equity share having face value of Rs. 10/- each, into 2 equity shares having face value of Rs. 5/- each, subject to approval of members of the company. The Issue of Equity Shares by way of Bonus Issue in the ratio of 1:2 [i.e. 1 equity share for every 2 equity share], subject to approval of members of the company.

Dividend

21-Jun-24
TATASTEEL: Final Dividend - Rs. - 3.60
SOLIMAC: Final Dividend - Rs. - 1.75
KANSAINER: Final Dividend - Rs. - 3.75
PNB: Dividend - Rs. - 1.50
CARERATING: Final Dividend - Rs. - 11.00
BEPL: Final Dividend - Rs. - 1.00
CYIENT: Final Dividend - Rs. - 18.00
DHANROTO: Final Dividend - Rs. - 1.50
CONCORDBIO: Dividend - Rs. - 8.75
BAJFINANCE: Final Dividend - Rs. - 36.00
SUPREMEIND: Final Dividend - Rs. - 22.00
HDFCLIFE: Final Dividend - Rs. - 2.00
GREENLAM: Final Dividend - Rs. - 1.65
TORNTPHARM: Final Dividend - Rs. - 6.00
ACI: Final Dividend - Rs. - 1.00
CEENIK: Interim Dividend - Rs. - 1.00
BAJAJFINSV: Final Dividend - Rs. - 1.00
MISHTANN: Final Dividend - Rs. - 0.0010

24-Jun-24
OBEROIRLTY: Final Dividend - Rs. - 2.00


IPO
DEE Development Engineers: 19-Jun-24; Close: 21-Jun-24
Akme Fintrade India: 19-Jun-24; Close: 21-Jun-24
Stanley Lifestyles: 21-Jun-24; Close: 25-Jun-24
Allied Blenders and Distillers: 25-Jun-24; Close: 27-Jun-24
Vraj Iron and Steel: 26-Jun-24; Close: 28-Jun-24

Buyback
---

Bonus
PVV Infra: Bonus Issue 1:5; Ex-Date: 21-Jun-24
Hindustan Petroleum Corp: Bonus Issue 1:2; Ex-Date: 21-Jun-24
Bharat Petroleum Corp: Bonus Issue 1:1; Ex-Date: 21-Jun-24
Aurionpro Solutions: Bonus Issue 1:1; Ex-Date: 27-Jun-24
MM Forgings: Bonus Issue 1:1; Ex-Date: 16-Jul-24
Siddhika Coatings: Bonus Issue 1:1; Ex-Date: 19-Jul-24
EIH Associated Hotels : Bonus Issue 1:1; Ex-Date: 29-Jul-24

Stock Split
Premier Explosives: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Jun-24
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
IFL Enterprises: 27-May-24; Close: 25-Jun-24
Integra Essentia: 11-Jun-24; Close: 25-Jun-24
Sobha: 28-Jun-24; Close: 04-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24

Stocks Picker Articles

21 Jun 2024 05:31

*Stocks in News*

*GE Power:* Company secures ₹243.46 crore contract from NTPC GE Power Services (Positive)

*Clean Science:* Company has subscribed to additional equity shares of clean fino - chem, a unit of co for 500m rupees (Positive)

*Time Techno:* Company gets final government NOD to manufacture type-IV composite cylinders for Hydrogen (Positive)

*Waaree Energies:* Company order from Mahindra Susten will aid the latter's renewable energy initiatives. (Positive)

*RPSG VENTURES:* Company unit entered into deed of assignment with natures basket, deal for purchase of brand “gift studio”, deal for total purchase consideration of 247.5m rupees (Positive)

*Voltas:* Company executes share purchase agreement with Singapore-based step-down arm Universal MEP (Positive)

*JTEKT INDIA:* Company expects export to increase from 4% to 6% (Positive)

*BRITANNIA:* Company All Permanent Workers Of Taratala, Kolkata Unit Accept VRS (Positive)

*ONGC:* Company board approves appointment of Devendra Kumar as CFO. (Neutral)

*Mphasis:* Company appoints Vinay Kalingara as the new head of investor relations (Neutral)

*Bank of Baroda:* Company Appoints Chayani Manoj sundar as CFO of the bank w.e.f. June 21, 2024 (Neutral)

*India Mart:* Company reappoints Dinesh Chandra Agarwal as MD & CEO for 5 years w.e.f. Jan 8, 2025 (Neutral)

*Yes Bank:* Company to consider enabling resolution for debt sale on June 25 (Neutral)

*GIC Housing Fianace:* Company hit by malware attack affects some of end user systems (Negative)

*Religare Enterprises:* SEBI directs Company to facilitate Burman Group in fulfilling obligations under SEBI Takeover Regulations, 2011. (Negative)

*Welspun Spec:* Guj Pollution control board directs company to cease Bharuch unit operations (Negative)

Stocks Picker Articles

20 Jun 2024 05:16

Forthcoming Event

20th June: KSOLVES, PARSVNATH to consider Dividend; Aartech Solonics to consider Bonus issue & Stock Split; Blue Cloud Softech Solutions, ITCONS E-Solutions, Kiduja India, Sky Gold, Spandana Sphoorty Financial, Vedanta to consider Fund Raising

21st June: Rajath Finance, Prestige Estates Projects, Jaypee Infratech, Marathon Nextgen Realty, Mrs. Bectors Food Specialities to consider Fund Raising; Steelco Gujarat to consider Reduction of Capital

22nd June: Bio Green Papers, GRM Overseas to consider Fund Raising & Reduction of Capital; Maruti Infrastructure to consider Bonus issue & Stock Split

24th June: Satin Creditcare Network, Chemplast Sanmar, Muthoot Capital Services to consider Fund Raising

25th June: Money Masters Leasing & Finance to consider Stock Split; Inventure Growth & Securities to consider Fund Raising

01st July: Sakuma Exports to consider Bonus issue

Stocks Picker Articles

20 Jun 2024 04:48

*Stocks in News*

*ACE:* Japanese construction equipment maker Kato works to set up joint venture with action construction equipment to enter Indian market. (Positive)

*Godrej Industries:* CCI approves Godrej Industries proposed group re-alignment. (Positive)

*Indian Oil:* Company in joint venture pact with GPS Renewables for sustainable energy solutions. (Positive)

*Blue Dart:* Company commences drone deliveries in collaboration with Skye Air (Positive)

*Escorts Kubota:* Company plans investment of up to Rs 4,500 crore for new Rajasthan unit. (Positive)

*AU Bank:* GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD bought 43,34,080 at Rs. 650.00 (Positive)

*Sansera:* SOCIETE GENERALE bought 3,58,343 at Rs. 1,200.00 (Positive)

*IMFA:* Govt to Disburse Over Rupees 221 Cr to Utkal Coal, Company Unit for Land Compensation (Positive)

*TTK Prestige:* Company has signed an agreement with a globally reputed consultant to assist the co to redraw its blueprint for a 5-year long-term strategy and plan, company will be spending in the range of around 120m rupees over the next 6 months for this exercise (Positive)

*Brigade:* Company signs agreement to develop a third world trade center tower at inforpark, kochi, company says the 1.5b rupees project will be developed by brigade group. (Positive)

*Sapphire Foods:* Company Approved Sub-Division/Split Of Shares In 1:5 Ratio (Positive)

*Eimco Elecon:* Company Gets Order worth 331.1m Rupees to Supply Coal Mining Equipment (Positive)

*Gensol Engineering:* Company has been allotted the greenshoe option of 250 MW/500 MWh by Gujarat Urja Vikas Nigam Limited (Positive)

*Reliance Industries:* Jio Net Adds 26.9 Lakh Users In April Vs 21.4 Lakh In March (Positive)

*Adani ports:* 4 Ports From Adani Ports & Sez Portfolio Figure In World Bank's Container Port Performance Index 2023 (Positive)

*Aurionpro:* Company says Long Term Revenue Growth Rate Goal Of 25%-30% Per Annum (Positive)

*Lemon Tree:* Company Signs A New Property In Morbi, Gujarat (Positive)

*BHEL:* Company Says Rajesh Kumar Dwivedi Designated As Chief Financial Officer (Neutral)

*Info Edge:* Co Says Allcheckdeals India Agreed To Invest 10m Rupees In Its Unit Newinc Internet Services (Neutral)

*Tata Communications:* Company Issued, Allotted Commercial Paper Aggregating To 2.5b Rupees (Neutral)

*PNB Housing:* Asia Opportunities Fund, General Atlantic likely to sell 4.2% stake via block deals in PNB Housing (Neutral)

*Chemplast Sanmar:* Company board to meet on June 24 to consider raising funds. (Neutral)

*Bharti Airtel:* Company net adds 7.5 lakh users in April vs 17.5 lakh in March (Neutral)

*Vodafone Idea:* Company Net Loses 7.34 Lakh Users In April Vs Lost 6.8 Lakh In March (Neutral)

*KEI Ind:* Operations of Plants At Rakholi And Chinchpada Partially Affected Due To Stoppage Of Production (Neutral)

*Mas Financial:* Company launches QIP worth ₹400 crore, upside option of further ₹100 crore (Neutral)

*Advance Enzyme:* Orbimed Asia III Mauritius offloaded 9.88% equity in Company (Neutral)

*Som Distilleries:* Madhya Pradesh government suspends license of Som Distilleries in child labour case (Negative)

*Sun Pharma:* Company Says Dadra Facility Receives Warning Letter From USFDA (Negative)

*PNC Infra:* Company’s MD, Director appeared before the CBI. (Negative)

Stocks Picker Articles

19 Jun 2024 05:16

Corporate Actions

Dividend

19-Jun-24
PANCARBON: Final Dividend - Rs. - 12.00
LTIM: Final Dividend - Rs. - 45.00
INTELLECT: Final Dividend - Rs. - 3.50
SAGCEM: Final Dividend - Rs. - 0.70
DALBHARAT: Final Dividend - Rs. - 5.00

20-Jun-24
BNRSEC: Dividend - Rs. - 1.50
LT: Final Dividend - Rs. - 28.00
ACGL: Final Dividend - Rs. - 15.00
PRIMESECU: Final Dividend - Rs. - 1.00
EMUDHRA: Final Dividend - Rs. - 1.25

21-Jun-24
TATASTEEL: Final Dividend - Rs. - 3.60
SOLIMAC: Final Dividend - Rs. - 1.75
KANSAINER: Final Dividend - Rs. - 3.75
PNB: Dividend - Rs. - 1.50
CARERATING: Final Dividend - Rs. - 11.00
BEPL: Final Dividend - Rs. - 1.00
CYIENT: Final Dividend - Rs. - 18.00
DHANROTO: Final Dividend - Rs. - 1.50
CONCORDBIO: Dividend - Rs. - 8.75
BAJFINANCE: Final Dividend - Rs. - 36.00
SUPREMEIND: Final Dividend - Rs. - 22.00
HDFCLIFE: Final Dividend - Rs. - 2.00
GREENLAM: Final Dividend - Rs. - 1.65
TORNTPHARM: Final Dividend - Rs. - 6.00
ACI: Final Dividend - Rs. - 1.00
CEENIK: Interim Dividend - Rs. - 1.00
BAJAJFINSV: Final Dividend - Rs. - 1.00
MISHTANN: Final Dividend - Rs. - 0.0010

24-Jun-24
OBEROIRLTY: Final Dividend - Rs. - 2.00


IPO
DEE Development Engineers: 19-Jun-24; Close: 21-Jun-24
Akme Fintrade India: 19-Jun-24; Close: 21-Jun-24
Stanley Lifestyles: 21-Jun-24; Close: 25-Jun-24

Buyback
---

Bonus
PVV Infra: Bonus Issue 1:5; Ex-Date: 21-Jun-24
Hindustan Petroleum Corp: Bonus Issue 1:2; Ex-Date: 21-Jun-24
Bharat Petroleum Corp: Bonus Issue 1:1; Ex-Date: 21-Jun-24
Aurionpro Solutions: Bonus Issue 1:1; Ex-Date: 27-Jun-24
MM Forgings: Bonus Issue 1:1; Ex-Date: 16-Jul-24
Siddhika Coatings: Bonus Issue 1:1; Ex-Date: 19-Jul-24
EIH Associated Hotels : Bonus Issue 1:1; Ex-Date: 29-Jul-24

Stock Split
Premier Explosives: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Jun-24
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
Sobha: Ex-Date: 19-Jun-24
Bhandari Hosiery Exports: Ex-Date: 19-Jun-24
Mitcon Consultancy & Engineering: Ex-Date: 20-Jun-24
VSF Projects: 05-Jun-24; Close: 20-Jun-24
IFL Enterprises: 27-May-24; Close: 25-Jun-24
Integra Essentia: 11-Jun-24; Close: 25-Jun-24
Sobha: 28-Jun-24; Close: 04-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24

Reduction of Capital
Ace Engitech: Ex-Date: 19-Jun-24

Stocks Picker Articles

19 Jun 2024 04:44

*Fund Houses Recommendations*


UBS on *Apollo Hospitals:* Maintain Buy on Company, raise target price at Rs 7500/Sh (Positive)

GS on *Crompton:* Maintain Buy on Company, raise price at Rs 450/Sh (Positive)

GS on *Havells:* Maintain Buy on Company, raise price at Rs 1900/Sh (Positive)

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

CLSA on *VBL:* Maintain Buy on Company, raise price at Rs 1977/Sh (Positive)

Bernstein on *Muthoot Fin:* Initiate Outperform on Company, price at Rs 2000/Sh (Positive)

Bernstein on *Indusind Bank:* Initiate Outperform on Bank, price at Rs 1800/Sh (Positive)

Nuvama on *Star Health:* Maintain Buy on Company, target price at Rs 660/Sh (Positive)

Citi on India Consumer: Most consumer discretionary and retail stocks have outperformed Nifty 50 over the last 3 months. *Jubilant Food* is top pick (Positive)

Nomura on *ICICI Lombard:* Maintain Neutral on Company, target price at Rs 1790/Sh (Neutral)

GS on *Voltas:* Maintain Sell on Company, raise price at Rs 1200/Sh (Neutral)

GS on *Symphony:* Maintain Neutral on Company, raise price at Rs 1160/Sh (Neutral)

Emkay on *PayTM:* Maintain Reduce on Company, target price at Rs 300/Sh (Neutral)

Bernstein on *Bajaj Fin:* Initiate Market perform on Company, price at Rs 6800/Sh (Neutral)

Jefferies on *IIFL Fin:* Maintain Hold on Company, target price at Rs 470/Sh (Neutral)

Stocks Picker Articles

18 Jun 2024 05:40

Forthcoming Event

18th June: FUTSOL to consider Dividend; DJ Mediaprint & Logistics to consider Dividend & Bonus issue; Kriti Industries, Zota Health Care, PNB Housing Finance, Shashank Traders, Srestha Finvest to consider Fund Raising

19th June: Sapphire Foods India to consider Stock Split; Cistro Telelink to consider Reduction of Capital; State Bank of India, SEPC to consider Fund Raising

20th June: KSOLVES, PARSVNATH to consider Dividend; Aartech Solonics to consider Bonus issue & Stock Split; Blue Cloud Softech Solutions, ITCONS E-Solutions, Kiduja India, Sky Gold, Spandana Sphoorty Financial, Vedanta to consider Fund Raising

21st June: Rajath Finance to consider Fund Raising; Steelco Gujarat to consider Reduction of Capital

22nd June: Bio Green Papers to consider Fund Raising & Reduction of Capital; Maruti Infrastructure to consider Bonus issue & Stock Split

24th June: Satin Creditcare Network to consider Fund Raising

25th June: Money Masters Leasing & Finance to consider Stock Split; Inventure Growth & Securities to consider Fund Raising

Stocks Picker Articles

18 Jun 2024 05:02

*Fund Houses Recommendations*


GS on *M&M:* Maintain Buy on Company, raise target price at Rs 3090/Sh (Positive)

Jefferies on *M&M:* Maintain Buy on Company, raise price at Rs 3510/Sh (Positive)

Nomura on *M&M:* Maintain Buy on Company, raise price at Rs 3374/Sh (Positive)

JP Morgan on *Marico:* Maintain Overweight on Company, raise price at Rs 660/Sh (Positive)

Investec on *Vedanta:* Upgrade to Hold on Company, raise target price at Rs 345/Sh (Positive)

Nuvama on *Vedanta:* Maintain Buy on Company, raise target price at Rs 644/Sh (Positive)

CLSA on *Vedanta:* Maintain Buy on Company, raise target price at Rs 520/Sh (Positive)

MOSL on *Vedanta:* Maintain Neutral on Company, raise target price at Rs 500/Sh (Positive)

MS on *Nykaa:* Maintain Overweight on Company, target price at Rs 198/Sh (Positive)

Nomura on *Nykaa:* Maintain Neutral on Company, target price at Rs 203/Sh (Positive)

Citi on *Infosys:* Maintain Buy on Company, target price at Rs 1785/Sh (Positive)

JP Morgan on *Zomato:* Maintain Overweight on Company, target price at Rs 208/Sh (Positive)

Jefferies on Financials: *Max Life* sees steady growth and limited impact of new norms, *ICICI Lombard* is confident on growth and better margins, *CMS Info* sees healthy growth & diversification (Positive)

Macquarie on *Nykaa:* Maintain Underperform on Company, target price at Rs 135/Sh Neutral)

BofA on *Nykaa:* Maintain Neutral on Company, target price at Rs 186/Sh (Neutral)

Jefferies on *Infosys:* Maintain Buy on Company, target price at Rs 1630/Sh (Neutral)

CLSA on *Infosys:* Maintain Buy on Company, target price at Rs 1553/Sh (Neutral)

Jefferies on *M&M Fin:* Maintain Hold on Company, target price at Rs 294/Sh (Neutral)

Jefferies on *IIFL Fin:* Maintain Hold on Company, target price at Rs 465/Sh (Neutral)

Jefferies on *Dr Reddy:* Maintain Underperform on Company, target price at Rs 5010/Sh (Neutral)

Citi on *Dr Reddy:* Maintain Sell on Company, target price at Rs 5200/Sh (Neutral)

Citi on *RBL Bank:* Maintain Sell on Company, target price at Rs 257/Sh (Neutral)

Citi on *Auro Pharma:* Maintain Sell on Company, target price at Rs 1040/Sh (Neutral)

Stocks Picker Articles

18 Jun 2024 04:38

*Biocon:* US FDA issues 3 observations for Biocon's API facility (Site 6), located at Visakhapatnam, Andhra Pradesh. (Neutral)

*Adani Enterprises:* Promoters increase stake in the company by 2.02% to 73.95% from 71.93%. (Neutral)

*LIC:* Company clarifies that no formal proposal has been initiated to enter health insurance market. (Neutral)

*DishTV:* Company appoints Manoj Dobhal as Whole Time Director. (Neutral)

*SBI:* Announces completion of an Rs 830 crore bond issuance to support its business expansion. (Neutral)

*TCS:* Dallas court holds TCS liable in case of alleged misappropriation of trade secrets. (Neutral)

*Paytm:* Marshall Wace sold 5.85 lakh shares of Paytm at average price of Rs 428.05 apiece. (Neutral)

*IDFC First Bank:* RBI approves re-appointment of Sanjeeb Chaudhuri as Part-Time Chairman of IDFC First Bank with effect from Aug 25 (Neutral)

*Havells:* Company to invest 500-600m rupees in air conditioner manufacturing capacities (Neutral)

*TARC:* Company approves raising up to Rs 750 crore via banks or fresh NCDs to refinance its existing NCDS. (Neutral)

*South Indian Bank:* RBI approves appointment of Dolphy Jose as Executive Director for 3 years. (Neutral)

*HCL TECH:* Company to consider Q1 results and dividend on July 12, 2024 (Neutral)

*Infosys:* Company to consider Q1 results on July 18, 2024 (Neutral)

*Jindal Stainless:* Chromeni Steels Private has become its wholly-owned subsidiary with immediate effect. (Neutral)

*Aurionpro:* Company fixes June 27 as record date for 1:1 Bonus Issue (Neutral)

*Nandan Denim:* Company approved sub-division of shares in the ratio Rs 1: Rs 10 (Neutral)

*Adani Power:* Company says incorporation of an overseas Wholly Owned Subsidiary in Singapore. (Neutral)

*Tata Power:* S&P Global Ratings has changed the rating outlook of the company to BB+/CreditWatch Positive from BB+/Stable. (Neutral)

*Spice Jet:* Company’s local passenger market share falls to 4% (Neutral)

*Blue Dart:* Company appoints Dipanjan Banerjee as Chief Commercial Officer (Neutral)

*PNB Housing:* Board meet today to consider fund raising via NCDs upto Rs 10,000 crores (Neutral)

*Central Bank of India:* Bank failed to promptly credit amounts involved in few unauthorized transactions to customers' accounts. (Negative)

*Butterfly Gandhimathi:* Managing Director Rangarajan Sriram resigns. (Negative)

*PTC India:* ICRA has downgraded credit rating on NCD, Fund Based-Term Loan, Fund based-Short Term, Commercial Paper. (Negative)

*JM Fin:* Gets an administrative warning letter from SEBI in its capacity as a Merchant Banker in relation to certain past public issuances of NCDs (Negative)

Stocks Picker Articles

14 Jun 2024 05:27

Corporate Actions

Dividend

14-Jun-24
VSTIND: Final Dividend - Rs. - 150.00
XCHANGING: Final Dividend - Rs. - 4.00
CANBK: Dividend - Rs. - 3.22
SAGARSOFT: Dividend - Rs. - 2.00
HINDUNILVR: Final Dividend - Rs. - 24.00
BAJAJ-AUTO: Dividend - Rs. - 80.00
LTTS: Final Dividend - Rs. - 33.00
MMFL: Interim Dividend - Rs. - 8.00
VISAKAIND: Dividend - Rs. - 0.50
ADANIPORTS: Dividend - Rs. - 6.00
HAPPSTMNDS: Final Dividend - Rs. - 3.25
CHEVIOT: Final Dividend - Rs. - 5.00
AMBUJACEM: Final Dividend - Rs. - 2.00
ACC: Final Dividend - Rs. - 7.50
TORNTPOWER: Final Dividend - Rs. - 4.00
EIMCOELECO: Dividend - Rs. - 5.00
SONACOMS: Final Dividend - Rs. - 1.53
ELECON: Final Dividend - Rs. - 2.00
BIKAJI: Final Dividend - Rs. - 1.00
ADANIENT: Final Dividend - Rs. - 1.30
ATGL: Dividend - Rs. - 0.25

18-Jun-24
BANKINDIA: Dividend - Rs. - 2.80
HDFCAMC: Final Dividend - Rs. - 70.00
LTF: Final Dividend - Rs. - 2.50
TATAINVEST: Final Dividend - Rs. - 28.00

IPO
DEE Development Engineers: 19-Jun-24; Close: 21-Jun-24

Buyback
Cheviot Company: Ex-Date: 14-Jun-24
Sharda Motor Industries: 11-Jun-24; Close: 18-Jun-24

Bonus
Hindustan Petroleum Corp: Bonus Issue 1:2; Ex-Date: 21-Jun-24
Bharat Petroleum Corp: Bonus Issue 1:1; Ex-Date: 22-Jun-24

Stock Split
Kamdhenu Ventures: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 14-Jun-24

Right Issue
Sobha: Ex-Date: 19-Jun-24
VSF Projects: 05-Jun-24; Close: 20-Jun-24
IFL Enterprises: 27-May-24; Close: 25-Jun-24
Integra Essentia: 11-Jun-24; Close: 25-Jun-24
Sobha: 28-Jun-24; Close: 04-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24

Stocks Picker Articles

14 Jun 2024 05:26

Stocks in Action

Varun Beverages Limited: The company, a key player in the global beverage industry with operations spanning across 10 countries with franchise rights and additional 4 countries with distribution rights, witnessed a solid year-over-year growth of 11% in revenues from operations in Q1CY244. Consolidated sales volume grew by 7.2% to 240.2 million cases in Q1CY24 while net realization per case increased by 3.5% to Rs. 179.7 on account of improving product mix in India and higher contribution of International markets which have higher realization per case, driving the top line. The EBITDA margin improved 240 bps to 22.9% in the quarter, led by higher gross margins and increased realization. Notably, PAT climbed 24.9% to Rs. 5,479.8 million in Q1CY24 driven by volume growth, increase in net realization and improved profit margins. Encouragingly, for the 2018-2023 period, revenue, EBITDA and PAT grew at a CAGR of 25.7%, 29.1% and 47.6%, respectively. According to management, “as we move into peak season, the growth outlook stays no way different from the past few years and the performance, given the strong heatwaves prevailing across India during the summer quarters, where we are.” Also, Varun Beverage’s strategic investments focused towards enhancing production capabilities and new acquisitions are likely to strengthen its global presence and help establish a solid platform for sustained growth in the forthcoming period. Positive on Varun Beverages given its solid Q1CY24 performance, favorable demand drivers for the current quarter and strategic investment moves.

KEI Industries: The Government of India’s ongoing focus on housing and infrastructure development has been a key driving force behind the consumer electricals industry growth over the recent quarters. The GOI’s ‘Pradhan Mantri Suryodaya Yojana’ launched in January 2024 aims at installing rooftop solar for 1 crore homes is anticipated to provide an incremental boost to wire makers. Further, growing demand for fibre optics for 5G deployment and electric vehicles is a positive for this sector. Amid these favorable industry growth levers, KEI Industries, one of the leading manufacturer of wires and cables (W&C) with a strong presence in both India and international markets, remains well-poised to gain. Notably, it is one of the few Indian players with the capability to manufacture extra high voltage (EHV) cables above 220kV and also feature in the select group of global manufacturers capable of producing EHV 400kV cables. The company’s diversified business model across a wide range of products, customers, segments, industries and geographies maximizes business opportunities while mitigating risks associated with downturns in specific areas. In FY23-24, it reported a 17.3% year-over-year growth in revenues from operations. PAT rose 21.6% during this period on a year-over-year basis. KEI Industries investment of around Rs. 1,000 Crore in greenfield expansion over the next three-four years, complemented by additional investments in brownfield expansion is set to fuel its growth trajectory further. It expects to fund all the investments by internal accruals, which is encouraging. Positive on KEI industries given strong FY23-24 results, favorable industry growth drivers and healthy balance sheet position.

Stocks Picker Articles

25 Jun 2024 04:49

*Stocks in News*



*Waaree Energies:* Company secures a contract for a 412 MWp solar project in Rajasthan. (Positive)

*Amara Raja:* Company Announces Strategic Technology Collaboration with Gotion-InoBat-Batteries (Positive)

*Sun Pharma:* Company Says Combined Entity Is Better Positioned To Compete In Increasingly Competitive Generics Industry (Positive)

*S H Kelkar:* Company entered into share purchase agreement for sale of 40% stake held by KFL in Nutaste food and drink labs, deal for 125.1m rupees valuing the business at 310m rupees. (Positive)

*Swan Energy:* Company board approves 49% stake buy in TOPL for ₹440 cr. (Positive)

*Muthoot Capital:* Company to initiate registration process as a corporate agent with IRDAI. (Positive)

*VPRPL:* Received contract by office of the Executive Engineer Division XXIV(WS) Goa, having a total value of Rs. 678.18 million. (Positive)

*Ceinsys Tech:* Received order of extension of Letter of Award from State Water and Sanitation Mission (SWSM), Uttar Pradesh for Lucknow and Devipatan Clusters (Positive)

*Himalaya Food:* Dollar Tree Chain of Stores USA has approved relaunch of Frozen Appetizers under Himalaya owned brand ‘Chef Ernesto’ (Positive)

*Tide Water:* Promoter Entity bought 1.62 lakh shares at Rs 2029.37/ Share (Positive)

*KIMS:* Board Meeting to be held on 28-Jun-2024 to consider and approve Stock split (Positive)

*Ind Swift lab:* Board to meet on 27 June to consider and approve raising of funds via equity (Positive)

*IndiGo:* Company doubles frequency between Jeddah and Mumbai (Positive)

*Ambuja Cements:* Company secures 24 bids for fresh limestone mines, with estimated total resource of 587 million tonne. (Positive)

*Shree Cement:* Company announced Rs 4,000 crore investment to enhance its renewable energy portfolio now represents almost half of its total installed power capacity. (Neutral)

*Maruti:* Company gets GST demand notice of ₹5.4 crore for period July 2017 to March 2023. (Neutral)

*Sun Pharma:* Company has successfully completed the merger of Taro Pharma with its subsidiary. (Neutral)

*Borosil:* Company opens QIP, sets floor price at ₹331.75/share. (Neutral)

*Shalby:* Company terminated franchise agreement with madhuban orthopedic and multispecialty surgical hospital. (Neutral)

*Zee Entertainment:* Company’s CEO Puneet Goenka acquires majority stake in Maverick Media (Neutral)

*Hariom Pipes:* Raises Rs 72cr via preferential issue to promoters and non-promoters (Neutral)

*Chemplast Sanmar:* Company approved raising of funds worth up to 10b rupees (Neutral)

*JP Associates:* Company is offering to pay Rs 200 crore upfront with an assurance to settle Rs 16,000 crore over next 18 months. (Neutral)

*Satin Credit Care:* Company appoints Monoj Agrawal as CFO of the company w.e.f July 1 (Neutral)

*State Bank:* FSIB to hold interviews to select a suitable candidate for the post chairman. (Neutral)

*AU Small Bank:* Company to consider fund raising via QIP or private placement or other modes on June 27. (Neutral)

*RBL Bank:* Company to consider fund raising via QIP on June 27 (Neutral)

*Britannia:* Company stops production at historic Kolkata plant, employees offered VRS. (Neutral)

*RR Kabel:* Promoter Entity sold 5.90 lakh shares at Rs 1734.58/ Share (Neutral)

*Allcargo Gati:* Company to raise up to ₹200 cr via QIP, indicative price ₹101 cr, floor price ₹106.07/sh (Neutral)

*Bandhan Bank:* RBI has appointed Arun Kumar Singh, Retd RBI CGM as additional director on the board (Neutral)

*Happiest Minds:* Promoter and executive chairman, Ashok Soota, has initiated a block deal to sell a 6% stake in the company. (Negative)

Stocks Picker Articles

24 Jun 2024 04:55

Stock in Action

Ircon International Ltd: The company, a leading PSU turnkey construction company specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc., is expected to benefit from the Govt. of India’s focus on expanding the railway infrastructure amid rising rail traffic. With the NDA government’s budget due in July, it is likely that the centre will focus on adding safer and faster tracks in the current year alongside the addition of fresh lines with an estimated cost of Rs. 50,000 crore. Laying new tracks is part of the government’s Railways Vision 2047 under which it aims to add 100,000 km of tracks including some replacements over the nest 25years at a cost of Rs. 15-20 trillion. Considering the next five year goal, this plan targets 25,000 km of new tracks with an investment of more than Rs. 3.5 trillion. Ircon International has a successful track record of completing important and prestigious projects in the railway sector, including construction of more than 2,500 kms of new rehabilitation of existing track in India and abroad. For FY24, the company witnessed a 21.5% increase in PAT on a YoY basis. Positive on Ircon International given the government’s ambitious expansion plans for the railway sector over the next few years.

Affle India: Affle India is well placed to capture opportunities from favourable industry tailwinds given its competencies in both in-app and on-device ecosystems, end-to-end offerings in the CPCU business model and a first mover advantage in emerging markets. Affle is proxy to India’s growing digital ad spends and it aims to reach more than 10 billion connected devices in future. Affle’s focus on connected TV, IOS market and synergies from consolidation of acquisitions should help in improving margins and deliver growth going forward. The company is well positioned to garner a larger share from improving trends in advertising expenditure not only in its key markets but also in international markets, aided by Youappi’s acquisition and growing investments in AI. Management indicated that the emerging markets should continue to grow at 20-25% in FY24, along with delivering 20%+ PAT growth with the bottoming out of macroeconomic concerns in the developed markets should bode well for Affle as companies will continue to spend for premium user conversions. Positive on Affle India given the favourable industry tailwinds, end-to-end offerings in the CPCU business model and a first mover advantage in emerging markets.

Stocks Picker Articles

24 Jun 2024 04:54

*Stocks in News*


*JSW Energy:* JSW Neo Energy gets LoA for 300 MW wind-solar hybrid capacity from SECI. (Positive)

*Optiemus Infra:* Company incorporates wholly-owned subsidiary Optiemu sUnmanned Systems. (Positive)

*GRSE:* Company sings contract for construction & delivery of multi-purpose vessels worth ~$54 Million. (Positive)

*RVNL:* Company Wins Order Worth 192cr Rupees (Positive)

*Newgen:* Company announces USD 1.48 Million Agreement with US Client. (Positive)

*Tata Power:* CARE Ratings has upgraded the rating of the company's Long-Term rating on the bank and debt facilities from ‘CARE AA/Positive' to 'CARE AA+/Stable'. (Positive)

*Kirloskar Pneumatic:* Company signs MoU to acquire majority stake in Systems and Components India. (Positive)

*Chemical Stocks:* DGTR recommends extension of anti-subsidy duty on a Chinese chemical for five more years to guard domestic players. (Positive)

*Power Stocks:* Centre approves new transmission schemes worth Rs 13,595 crore to evacuate 4.5 GW RE power each from Rajasthan and Karnataka: (Positive)

*Aster DM:* Morgan Stanley bought shares after key foreign investors offloaded stakes worth Rs 1,530 crore. (Positive)

*Gas distribution stocks:* CNG price hiked in Delhi, Noida and other cities (Positive)

*E Commerce stocks:* Relief for e-commerce companies as decided to reduce TDS deduction to 0.5% versus 1.0% (Positive)

*Infra stocks:* Relief for highway developers as govt to levy GST on basis of actual payment instead of onetime payment (Positive)

*KBC Global:* Company secures ₹20 million contract for East Africa infrastructure development. (Positive)

*Lupin:* Company receives the EIR from the USFDA for its manufacturing facility in Somerset, New Jersey, with a Voluntary Action Indicated. (Positive)

*Hindustan Zinc:* Company becomes the preferred supplier of zinc to U.S.-based AEsir Technologies. (Positive)

*TVS Motor:* Company signs agreement with CSC Grameen eStores for its commercial vehicle range (3-Wheelers). (Positive)

*Vama Industries:* Company has received a Supply Order worth of Rs 74.32 Crores from New Space India Limited (NSIL) A CPSE under Department of Space, Government of India (Positive)

*IGL/MGL/GUJGAS/ADANI TOTAL:* City Gas Distributions increase CNG prices by Rs 1-1.50 almost pan India (Positive)

*Vedanta:* Parent Company Vedanta Resources strongly denies any plans to sell a stake in Vedanta (Positive)

*HG Infra:* Company incorporated multiple solar subsidiary companies. (Positive)

*Sun Pharma:* Company's GL0034 demonstrates a significant Phase 1 result in an oral presentation at ADA 84th scientific sessions. (Positive)

*Welspun Specialty:* Company has been notified as L1 bidder by BHEL for supply of Seamless Stainless Steel Boiler Tubes for NTPC Talcher 2 X 660 MW Super Critical Thermal Power Project. (Positive)

*VIp Ind:* SBI Mutual Fund raises stake in company to 6.0 percent (Positive)

*Axis Bank:* Morgan Stankey bought 1,70,00,000 shares at Rs 1225.75/ share (Positive)

*SP Apparels:* Completed the acquisition of entire shares (100%) of M/s. Young Brand Apparel Private Limited. (Neutral)

*Bank of Maharashtra:* Company declared dividend of Rs 1.40 per equity share. (Neutral)

*Cipla:* Black Rock raises stake in Company to over 5%. U.S. FDA inspection at Cipla's manufacturing facility in Goa ends with 6 observations. (Neutral)

*ONGC, Indian Oil Corp:* Signs Mou To Set Up Small Scale Lng Plant Near Hatta Gasfield In Vindhyan Basin. (Neutral)

*HDFC Bank:* SBI Mutual Fund raises holding in Company to over 5%. (Neutral)

*MCX:* Company shortlists names of candidates for the post of MD and CEO (Neutral)

*IREDA:* Company raised Rs. 1500 crore through issuance of bonds (Neutral)

*Vodafone Idea:* Company completes minimum rollout obligation for all 5G circles. (Neutral)

*Pnb Housing:* Asia Opportunities V (Mauritius) Cuts 2.46% Stake to 5.19% (Neutral)

Stocks Picker Articles

21 Jun 2024 05:32

Forthcoming Event

21st June: Rajath Finance, Prestige Estates Projects, Jaypee Infratech, Marathon Nextgen Realty, Mrs. Bectors Food Specialities to consider Fund Raising; Steelco Gujarat to consider Reduction of Capital

22nd June: Bio Green Papers, GRM Overseas to consider Fund Raising & Reduction of Capital; Maruti Infrastructure to consider Bonus issue & Stock Split

24th June: Satin Creditcare Network, Chemplast Sanmar, Muthoot Capital Services to consider Fund Raising

25th June: Money Masters Leasing & Finance to consider Stock Split; Inventure Growth & Securities, Yes Bank, Ritco Logistics to consider Fund Raising

26th June: One Point One Solutions to consider Fund Raising

28th June: Ratnaveer Precision Engineering to consider Fund Raising

01st July: Sakuma Exports to consider Bonus issue

Stocks Picker Articles

21 Jun 2024 05:31

*Fund Houses Recommendations*

Nuvama on Bikaji Foods: Initiate Buy on Company, target price at Rs 885/Sh (Positive)

Bernstein on Zomato: Maintain Buy on Company, raise target price at Rs 230/Sh (Positive)

Nomura on Firstsource Solutions: Maintain Neutral on Company, with target price at Rs 200/Sh (Neutral)

Investec on Astral: Maintain Buy on Company with Target Price of Rs 2370/Sh (Positive)

GS on Polycab: Maintain Buy on Company, raise target price at Rs 7100/Sh (Positive)

Jefferies on PI Industries: Maintain Buy on Company, raise target price at Rs 4750/Sh (Positive)

GS on KEI: Maintain Neutral on Company, raise target price at Rs 3690/Sh (Neutral)

CITI on Endurance: Maintain Buy on Company, with target price at Rs 2550/Sh (Positive)

MS on Suzlon: Maintain Overweight rating on Company, target price at Rs 58.5/Sh (Positive)

Stocks Picker Articles

20 Jun 2024 05:17

Corporate Actions

Sapphire Foods India has approved sub-division/split of existing equity shares from 1 equity share having face value of Rs. 10/- each, into 5 equity shares having face value of Rs. 2/- each, subject to the approval of shareholders at the forthcoming 15th Annual General Meeting of the Company.

Dividend

20-Jun-24
BNRSEC: Dividend - Rs. - 1.50
LT: Final Dividend - Rs. - 28.00
ACGL: Final Dividend - Rs. - 15.00
PRIMESECU: Final Dividend - Rs. - 1.00
EMUDHRA: Final Dividend - Rs. - 1.25

21-Jun-24
TATASTEEL: Final Dividend - Rs. - 3.60
SOLIMAC: Final Dividend - Rs. - 1.75
KANSAINER: Final Dividend - Rs. - 3.75
PNB: Dividend - Rs. - 1.50
CARERATING: Final Dividend - Rs. - 11.00
BEPL: Final Dividend - Rs. - 1.00
CYIENT: Final Dividend - Rs. - 18.00
DHANROTO: Final Dividend - Rs. - 1.50
CONCORDBIO: Dividend - Rs. - 8.75
BAJFINANCE: Final Dividend - Rs. - 36.00
SUPREMEIND: Final Dividend - Rs. - 22.00
HDFCLIFE: Final Dividend - Rs. - 2.00
GREENLAM: Final Dividend - Rs. - 1.65
TORNTPHARM: Final Dividend - Rs. - 6.00
ACI: Final Dividend - Rs. - 1.00
CEENIK: Interim Dividend - Rs. - 1.00
BAJAJFINSV: Final Dividend - Rs. - 1.00
MISHTANN: Final Dividend - Rs. - 0.0010

24-Jun-24
OBEROIRLTY: Final Dividend - Rs. - 2.00


IPO
DEE Development Engineers: 19-Jun-24; Close: 21-Jun-24
Akme Fintrade India: 19-Jun-24; Close: 21-Jun-24
Stanley Lifestyles: 21-Jun-24; Close: 25-Jun-24

Buyback
---

Bonus
PVV Infra: Bonus Issue 1:5; Ex-Date: 21-Jun-24
Hindustan Petroleum Corp: Bonus Issue 1:2; Ex-Date: 21-Jun-24
Bharat Petroleum Corp: Bonus Issue 1:1; Ex-Date: 21-Jun-24
Aurionpro Solutions: Bonus Issue 1:1; Ex-Date: 27-Jun-24
MM Forgings: Bonus Issue 1:1; Ex-Date: 16-Jul-24
Siddhika Coatings: Bonus Issue 1:1; Ex-Date: 19-Jul-24
EIH Associated Hotels : Bonus Issue 1:1; Ex-Date: 29-Jul-24

Stock Split
Premier Explosives: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Jun-24
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
Mitcon Consultancy & Engineering: Ex-Date: 20-Jun-24
VSF Projects: 05-Jun-24; Close: 20-Jun-24
IFL Enterprises: 27-May-24; Close: 25-Jun-24
Integra Essentia: 11-Jun-24; Close: 25-Jun-24
Sobha: 28-Jun-24; Close: 04-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24

Stocks Picker Articles

20 Jun 2024 04:48

Stock in Action

Zomato Ltd.: Zomato is in discussions with Paytm to acquire the latter’s movies, ticketing business in an attempt to boost its Going-out segment. Zomato’s incremental improvements in scale, efficiency and durability of the business have resulted in accelerated profitability and cash generation in the last 4 quarters. In Q4FY24, revenue from operations grew at 73.2% on a year-over-year basis owing to robust growth in both food delivery and quick commerce. PAT turned positive to Rs. 175 crore in the quarter from a loss of Rs. 188 crore recorded in the year-ago quarter. Notably, the company has built a large and resilient food delivery business with gross order value (GOV) growing at a CAGR of 30%. Management expects GOV to continue growing at more than 20% on a YoY basis, which is encouraging. Zomato’s Going-out business is comprised of two key segments – Dining-out and Zomato Live. The potential deal with Paytm is likely to help the company capitalize on the business’ large, untapped opportunity, given that it is still in the nascent stage. The GOV for this business grew 136% YoY in FY24 primarily driven by growth in the India Dining-out business. Positive on Zomato given solid future growth outlook of the company and a healthy balance sheet position.

Tata Motors: Tata Motors achieved the milestone of making the domestic business net debt-free. Company is the undisputed leader in India's EV market, boasting a diverse range of products. Thanks to the strong performance, Tata motors has captured a 73.1% market share in the domestic EV segment. The company leverages the performance of its EVs, which have collectively covered 3 billion kilometres, to enhance reliability and improve the charging infrastructure. Further, company plans to open EV stores in over 50 cities in the next 24 months to deepen penetration. The company expects EVs to constitute over 30% of its overall passenger vehicle volumes by FY30 and aims to achieve EBITDA breakeven by FY26. The CV segment has been on an upward trajectory, driven by the government's focus on infrastructure, mining, and construction activities. The management has noted that CV demand is likely to remain strong, with replacement and scrappage demand to also contribute to future growth. The company aims to gradually increase its market share and achieve a double-digit operating margin in the coming years. Positive on Tata Motors given its focus on electric vehicles, leveraging its leadership position in the domestic market with plans to expand charging infrastructure and increase penetration.

Stocks Picker Articles

19 Jun 2024 05:16

Forthcoming Event

19th June: Sapphire Foods India to consider Stock Split; Cistro Telelink to consider Reduction of Capital; State Bank of India, SEPC to consider Fund Raising

20th June: KSOLVES, PARSVNATH to consider Dividend; Aartech Solonics to consider Bonus issue & Stock Split; Blue Cloud Softech Solutions, ITCONS E-Solutions, Kiduja India, Sky Gold, Spandana Sphoorty Financial, Vedanta to consider Fund Raising

21st June: Rajath Finance, Prestige Estates Projects, Jaypee Infratech, Marathon Nextgen Realty, Mrs. Bectors Food Specialities to consider Fund Raising; Steelco Gujarat to consider Reduction of Capital

22nd June: Bio Green Papers, GRM Overseas to consider Fund Raising & Reduction of Capital; Maruti Infrastructure to consider Bonus issue & Stock Split

24th June: Satin Creditcare Network to consider Fund Raising

25th June: Money Masters Leasing & Finance to consider Stock Split; Inventure Growth & Securities to consider Fund Raising

Stocks Picker Articles

19 Jun 2024 05:12

Bulk Deal & Insider Trade Update

Bulk Deals
*Spandana Sphoorty Fin Ltd : Goldman Sachs Funds - Goldman Sachs India Equity Portfolio Buy 1034598 Shares @ Rs. 760
*Tcns Clothing Co. Limited : Ta Fdi Investors Limited Sell 1340000 Shares @ Rs. 550.42
*Le Travenues Technology L : Nomura Funds Ireland Public Limited Company - Nomura Funds Ireland - India Equity Buy 4550793 Shares @ Rs. 159.09
*Le Travenues Technology L : The Nomura Trust And Banking Co. Ltd As The Trustee Of Nomura Indian Stock Mother Fund Buy 2147247 Shares @ Rs. 159.09
*Ideaforge Techno Ltd : Celesta Capital Ii Mauritius Sell 357600 Shares @ Rs. 768.08
*Osia Hyper Retail Ltd : Nova Global Opportunities Fund Pcc - Touchstone Sell 4000000 Shares @ Rs. 23.66
*Paytm : Goldman Sachs (Singapore) Pte.- Odi Sell 4420000 Shares @ Rs. 415.04
*Kpil : Custody Bank Of Japan Ltd Re Rb Amundi India Small Cap Equity Mother Fund Buy 910000 Shares @ Rs. 1150
*Atfl : Pari Washington India Master Fund, Ltd. Sell 1097000 Shares @ Rs. 666.28
*Protean : Equity Intelligence India Buy 295000 Shares @ Rs. 1199.5
*Atfl : Pari Washington Investment Fund Sell 487426 Shares @ Rs. 665.41
*Radiantcms : Ascent India Fund Iii Sell 1200000 Shares @ Rs. 81.54
*Oneglobal : Ag Dynamic Funds Limited Buy 200000 Shares @ Rs. 122.38

Insider Trade
*Revoke*
* Zuari Industries Limited Formerly Zuari Global Limited Promoter Revoke 2600 shares of Chambal Fertilisers & Chemicals Ltd. on 14-Jun-24
* Thriveni Earthmovers Private Limited Promoter Revoke 2045516 shares of Lloyds Metals And Energy Ltd. on 11-Jun-24

Dividend Update
*Dalmia Bharat Ltd. Final Dividend Rs. 5 Ex Date 19-Jun-2024
*Intellect Design Arena Ltd. Final Dividend Rs. 3.5 Ex Date 19-Jun-2024
*Larsen & Toubro Infotech Ltd. Final Dividend Rs. 45 Ex Date 19-Jun-2024
*Panasonic Carbon India Company Ltd. Final Dividend Rs. 12 Ex Date 19-Jun-2024
*Sagar Cements Ltd. Final Dividend Rs. 0.7 Ex Date 19-Jun-2024

Stocks Picker Articles

19 Jun 2024 04:43

*Stocks in News*

*Infosys:* Company has launched Infosys AsterTM, an AI-amplified marketing suite that enhances brand experiences, marketing efficiency, and business growth. (Positive)

*Vedanta:* Company expects monetization of its steel and raw materials business, to be completed in first half of FY 2024-25. (Positive)

*Seamec:* Company owns and operates 4 multi-support vessels for diving services and subsea operations and has expanded into main fleet shipping with 3 acquired bulk carriers. (Positive)

*Tata Technologies:* Company collaborates with Microsoft and Tata Motors for InnoVent hackathon for engineering students. (Positive)

*Sona BLW:* Company says received certification for its traction motor for electric 3-wheelers under production- linked incentive scheme (Positive)

*PDS Limited:* Company unit entered into share purchase agreement with abhinav gupta buyer, agreement for proposed sale of entire equity stake held by MTGL in blueprint design (Positive)

*NGL Fine:* Company received certificate of suitability from European directorate, company says certificate of suitability for quality of medicines & healthcare for its product triclabendazole (Positive)

*HG Infra:* Company Received a Letter from South Central Railway Worth 447 Cr Rs (Positive)

*Snowman:* Promoter Gateway Distriparks acquired 3 lakh shares of the company from the open market or 0.18% of the total equity. (Positive)

*Tata Motors:* JLR and Chery sign LoI to license Freelander Brand to CJLR for creation of EVs in China (Positive)

*Prestige Estates:* Company's board of directors are meeting on June 21 to consider and approve raising funds through QIP, preferential issue, rights issue or any other form. (Neutral)

*Craftsman Automation:* Company board approves raising up to Rs 1,200 crore via QIP. (Neutral)

*LIC:* Company clarifies that report on selling land to raise up to $7 billion is incorrect (Neutral)

*BLS E-Services:* Company to make initial investment of approximately Rs 71 crore in Aadifidelis Solutions (Neutral)

*Grasim:* Company says Birla opus launches its new thematic communication and embarks on a journey to make life beautiful (Neutral)

*Bharat Forge:* Company makes additional investment of $40 million in unit Bharat Forge America (Neutral)

*LIC:* Company clarifies that no formal proposal has been initiated to enter health insurance market. (Neutral)

*Dalmia Sugar:* Company fixed July 3 as the record date for the purpose of final dividend for the year 2023-24. (Neutral)

*Marico:* Mitsubishi UFJ Financial Group sells indirect interest in Marico.. (Neutral)

*HUL:* Asian Palm Oil Alliance, expresses concerns over HUL's reported intention to cut palm oil content in soaps by 25%. (Neutral)

*Zee Entertainment:* Company CFO Rohit Kumar Gupta steps down.. (Neutral)

*Indus Tower:* Vodafone PLC to sell stake in co via block deals, Block deal launched to sell 10% stake in company (Neutral)

*Tamilnad Mercantile Bank:* Submits application to RBI with the names of 3 candidates for the appointment of MD & CEO (Neutral)

*PNB Housing Finance:* Company appoints Vikas Rana as Head of Construction Finance effective June 18 (Neutral)

*AMI Organics:* Company opens QIP, sets floor price at Rs 1,228.71/share. (Neutral)

*ZF Commercial:* Wabco Asia likely to sell 5% equity of ZF Commercial Vehicle Control Systems India in a block deal. (Negative)

*Gland Pharma:* Fosun Pharma Industrial Pte will cut its stake in India's drug company through block deals after being unable to offload it in one go. (Negative)

*Sansera Engineering:* Client Ebene and CVCIGP II Employee Ebene are likely to divest up to 6.25 million shares, equivalent to an 11.66% equity stake. (Negative)

Stocks Picker Articles

18 Jun 2024 05:40

Corporate Actions

Dividend

18-Jun-24
BANKINDIA: Dividend - Rs. - 2.80
HDFCAMC: Interim Dividend - Rs. - 70.00
LTF: Final Dividend - Rs. - 2.50
TATAINVEST: Final Dividend - Rs. - 28.00

19-Jun-24
PANCARBON: Final Dividend - Rs. - 12.00
LTIM: Final Dividend - Rs. - 45.00
INTELLECT: Final Dividend - Rs. - 3.50
SAGCEM: Final Dividend - Rs. - 0.70
DALBHARAT: Final Dividend - Rs. - 5.00

20-Jun-24
BNRSEC: Dividend - Rs. - 1.50
LT: Final Dividend - Rs. - 28.00
ACGL: Final Dividend - Rs. - 15.00
PRIMESECU: Final Dividend - Rs. - 1.00
EMUDHRA: Final Dividend - Rs. - 1.25

21-Jun-24
TATASTEEL: Final Dividend - Rs. - 3.60
SOLIMAC: Final Dividend - Rs. - 1.75
KANSAINER: Final Dividend - Rs. - 3.75
PNB: Dividend - Rs. - 1.50
CARERATING: Final Dividend - Rs. - 11.00
BEPL: Final Dividend - Rs. - 1.00
CYIENT: Final Dividend - Rs. - 18.00
DHANROTO: Final Dividend - Rs. - 1.50
CONCORDBIO: Dividend - Rs. - 8.75
BAJFINANCE: Final Dividend - Rs. - 36.00
SUPREMEIND: Final Dividend - Rs. - 22.00
HDFCLIFE: Final Dividend - Rs. - 2.00
GREENLAM: Final Dividend - Rs. - 1.65
TORNTPHARM: Final Dividend - Rs. - 6.00
ACI: Final Dividend - Rs. - 1.00
CEENIK: Interim Dividend - Rs. - 1.00
BAJAJFINSV: Final Dividend - Rs. - 1.00
MISHTANN: Final Dividend - Rs. - 0.0010

24-Jun-24
OBEROIRLTY: Final Dividend - Rs. - 2.00


IPO
DEE Development Engineers: 19-Jun-24; Close: 21-Jun-24
Akme Fintrade India: 19-Jun-24; Close: 21-Jun-24
Stanley Lifestyles: 21-Jun-24; Close: 25-Jun-24

Buyback
Sharda Motor Industries: 11-Jun-24; Close: 18-Jun-24

Bonus
PVV Infra: Bonus Issue 1:5; Ex-Date: 21-Jun-24
Hindustan Petroleum Corp: Bonus Issue 1:2; Ex-Date: 21-Jun-24
Bharat Petroleum Corp: Bonus Issue 1:1; Ex-Date: 21-Jun-24
Aurionpro Solutions: Bonus Issue 1:1; Ex-Date: 27-Jun-24
MM Forgings: Bonus Issue 1:1; Ex-Date: 16-Jul-24
Siddhika Coatings: Bonus Issue 1:1; Ex-Date: 19-Jul-24
EIH Associated Hotels : Bonus Issue 1:1; Ex-Date: 29-Jul-24

Stock Split
Premier Explosives: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Jun-24
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
Sobha: Ex-Date: 19-Jun-24
Bhandari Hosiery Exports: Ex-Date: 19-Jun-24
Mitcon Consultancy & Engineering: Ex-Date: 20-Jun-24
VSF Projects: 05-Jun-24; Close: 20-Jun-24
IFL Enterprises: 27-May-24; Close: 25-Jun-24
Integra Essentia: 11-Jun-24; Close: 25-Jun-24
Sobha: 28-Jun-24; Close: 04-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24

Reduction of Capital
Ace Engitech: Ex-Date: 19-Jun-24

Stocks Picker Articles

18 Jun 2024 05:01

Stocks in Action

Ambuja Cements Limited: The Adani group owned cement company recently entered into a binding agreement to acquire a 100% stake in Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs. 10,422 crore, helping it inch closer to its target capacity of 140 MTPA by 2028. The buyout, to be fully funded through internal accruals, expands Ambuja’s market presence in south India by around 8% to 15% and reinforces its position as a pan-India leader in the cement industry. It adds to the company’s portfolio 14 MTPA cement capacities of which 10 are operational and the remaining are under construction at Krishnapatnam (2 MTPA) and Jodhpur (2 MTPA) and are expected to be completed within six to 12 months. Notably, 90% of the cement capacity comes with railway sidings, and some are supported by captive power plants and waste heat recovery systems. Further, the surplus clinker at the Jodhpur plant will support an additional 3 MTPA cement grinding capacity over and above 14 MTPA. Hence, the purchase gives substantial strength to Ambuja Cements to serve peninsular India at the most optimum logistic cost. Performance wise, the cement company reported revenues of Rs. 8,894 Cr. in Q4FY24, a 11.6% growth year over year. Q4FY24 EBITDA (excluding other income) of Rs. 1,699 Cr. grew 37% while PAT doubled to Rs. 1,526 Cr. Positive on Ambuja Cements given that it is expected that the government will continue focusing on infrastructure and housing sector spending and capital expenditure. Also, the company’s strategic expansion plans to capitalize on this uptrend backed by a healthy balance sheet bode well.

NTPC Limited: The company’s subsidiary, NTPC Green Energy Limited (NGEL), is discussing the possibility of seeding joint ventures (JVs) with oil refiner and marketer Hindustan Petroleum Corporation Ltd (HPCL) and copper and aluminium maker Hindalco Industries to supply these companies with green hydrogen. Green hydrogen is produced with the help of renewable energy, and refineries and manufacturing of steel and metals like aluminium are key areas where it can be used. NGEL's focus on JVs gains significance as it helps assured off take for renewable energy and green hydrogen by the JV partner for captive consumption. Last June, NGEL had incorporated a 50:50 JV with IndianOil Corporation Limited (IOCL) to supply the latter's refineries with renewable energy for captive consumption. Further, with the focus on India's net-zero target by 2070 and specific targets of the companies themselves, there is a growing interest on the adoption of green hydrogen in industries in place of grey hydrogen, which uses polluting inputs such as natural gas or methane. NTPC reported revenue from operations of Rs. 48816.55 Cr. in Q4FY24, up from Rs. 44744.96 Cr. in the prior-year period. PAT of Rs. 6490.05 Cr. rose 24.6% year over year in Q4FY24. Positive on NTPC given promising growth prospects of the renewable energy sector.

Stocks Picker Articles

18 Jun 2024 04:38

*Stocks in News*

*Pidilite:* JV ICA Pidilite enters into agreement with Industria Chimica Adriatica (ICA) SPA, Italy for licensing of certain UV Technology from ICA (Positive)

*RITES:* Company signs MoU with Damodar Valley Corporation for innovation in rail infra works. (Positive)

*Wipro:* Company extends its partnership with Hanesbrands an apparel brand, to further drive its digital transformation, business growth, & enhance long-term profitability. (Positive)

*Oil upstream stocks:* Windfall tax on crude cut to Rs 3,250/Tonne from Rs 5,200/Tonne w.e.f. June 15, 2024 (Positive)

*Bharti Airtel:* Company prepays ₹7,904 crore to department of telecom to clear high cost deferred liabilities for spectrum acquired in 2012 & 2015. (Positive)

*Shakti Pumps:* Long term rating upgraded, Short term rating affirmed (Positive)

*IndiGo:* Company’s local passenger market share rises to 61.6% in May, according to DGCA (Positive)

*Jubilant Pharmova:* Company’s arm to invest $50 million to expand radiopharmacy network in U.S. (Positive)

*RVNL:* Company emerges as lowest bidder for project worth Rs160 crore from East Coast Railway (Positive)

*Parag Milk Foods:* Company raises milk prices by Rs 2 per litre. (Positive)

*Purvankara:* Company acquires land in existing goa project for 900m rupees from wholly owned subsidiary, GDV value 2,59,000 sq ft ,7000 rupees per sq ft rate (Positive)

*JNK India:* Company has received a Mega order from RIL for Gas Cracker Unit (GCU) De-Bottlenecking (DBN) Project at RIL''s Nagothane Manufacturing Division (Positive)

*BLS Intl:* Arm BLS E-Services to acquire 55% stake in Aadifidelis Solutions for an enterprise value of ₹190 cr (Positive)

*KBC Global:* Company has been awarded a sub contract of civil engineering job of soft infrastructure segment worth us$20million by CRJE (east Africa) ltd (Positive)

*Coromandel:* ICAR partners with Coromandel International to use soil test-based data for improved crops (Positive)

*Hindustan Aeronautics:* Defence Ministry issues request for proposal for procurement of 156 Light Combat Helicopter (Positive)

*VPRPL:* Company awarded contract by Northwestern railway bikaner having a total value of Rs. 908.97 million (Positive)

*Paytm:* Company said to be in talks with Zomato to sell movie ticketing business: ET Sources (Positive)

*Consumer Durable stocks:* Electronic manufacturing is likely to be doubled in the next 5 years: ET Sources (Positive)

*Godawari Power:* Board approves buyback of 21.5 lakh shares at Rs 1,400 apiece. (Positive)

*Swan Energy:* Company approved proposal to incorporate unit to Interalia Engage in Information Technology and Artificial Intelligence activities (Positive)

*JK Tyre:* Company has received upgrade in credit ratings for bank facilities from India Ratings and Research (Positive)

*Minda Corp:* Company signed JV agreement with Hsin Chong Machinery Works (Positive)

*Titagarh Rail:* Commences trainset production for Bangalore Metro’s Yellow Line (Positive)

*Alembic Pharma:* Company gets FDA Final Approval for Icatibant Injection, 30 mg/3 mL (10 mg/mL) Single-Dose Prefilled Syringe (Positive)

*Adani Ports:* Company wins green nod for Rs 45,000 crore Mundra expansion (Positive)

*Hind Oil:* Company Says In Block B-80 the Export Flowline Is Cleaned Up and Both the Wells D1 and D2 Are Lined Up For Production (Positive)

*Lupin:* Company appoints Abdelaziz Toumi as CFO of arm Lupin Manufacturing Solutions (Positive)

*Insecticides:* Company plans to launch about 7-8 Products In FY25 (Positive)

*HDFC AMC:* Company has appointed Harish Narayanan as the chief marketing officer and chief digital officer. (Neutral)

*Spandana:* Board Meeting On June 20 To Consider Issue And Offer Of Non-Convertible Debentures On Private Placement Basis (Neutral)

*Zydus Life:* US FDA Classifies Zydus Life’s Injectable Mfg Unit At Pharmez SEZ, Matoda Unit As Official Action Indicated (Neutral)

Stocks Picker Articles

14 Jun 2024 05:26

Forthcoming Event

14th June: EIH Associated Hotels to consider Bonus issue; DC Infotech and Communication to consider Fund Raising

15th June: Aayush Food & Herbs to consider Stock Split; Bodhtree Consulting to consider Fund Raising & Reduction of Capital; Godawari Power And Ispat to consider Buyback; Sobha, TARC, IIFL Finance to consider Fund Raising

17th June: Nandan Denim, Suumaya Industries to consider Stock Split; Panache Digilife, AGS Transact Technologies, Lords Chloro Alkali to consider Fund Raising

18th June: DJ Mediaprint & Logistics to consider Dividend & Bonus issue; Kriti Industries, Zota Health Care, PNB Housing Finance to consider Fund Raising

19th June: Sapphire Foods India to consider Stock Split; Cistro Telelink to consider Reduction of Capital; State Bank of India, SEPC to consider Fund Raising

20th June: Aartech Solonics to consider Bonus issue & Stock Split

22nd June: Bio Green Papers to consider Fund Raising & Reduction of Capital; Maruti Infrastructure to consider Bonus issue & Stock Split

25th June: Money Masters Leasing & Finance to consider Stock Split

Stocks Picker Articles

14 Jun 2024 04:57

*Fund Houses Recommendations*


Jefferies on *HAL:* Maintain Buy on Company, target price at Rs 5725/Sh (Positive)

CLSA on *Prestige:* Maintain Buy on Company, raise target price at Rs 2320/Sh (Positive)

Investec on *Vedanta:* Upgrade to Hold on Company, raise target price at Rs 345/Sh (Positive)

Jefferies on Fear and Greed: Investment in *GMR Airports Infrastructure*, added with a 4% weighting (Positive)

CLSA on *Private Banks:* Indian banks are well placed after a rollercoaster decade, prefer *ICICI Bank and Indusind Bank* (Positive)

Jefferies on *Ambuja:* Maintain Buy on Company, target price at Rs 735/Sh (Positive)

MS on *Ambuja:* Maintain Equal weight on Company, target price at Rs 665/Sh (Neutral)

Macquarie on *Ambuja:* Maintain Neutral on Company, target price at Rs 608/Sh (Neutral)

Emkay on *Ambuja:* Maintain Sell on Company, target price at Rs 700/Sh (Neutral)

CLSA on *Ambuja:* Maintain Sell on Company, target price at Rs 575/Sh (Neutral)

Jefferies on *HCL Tech:* Maintain Neutral on Company, target price at Rs 1390/Sh (Neutral)

Nomura on *Axis Bank:* Maintain Buy on Bank, target price at Rs 1250/Sh (Neutral)

JP Morgan on *Vodafone:* Maintain Underweight on Company, target price at Rs 7/Sh (Neutral)

Citi on *Laurus Lab:* Maintain Sell on Company, target price at Rs 320/Sh (Neutral)