Stocks Picker Articles

02 Dec 2024 04:04

*Fund Houses Recommendations*


UBS on *Petronet:* Upgrade to Buy on Company, raise target price at Rs 400/Sh (Positive)

Emkay on *Anant Raj:* Maintain Buy on Company, target price at Rs 925/Sh (Positive)

Nomura on *Dixon Tech:* Maintain Buy on Company, target price at Rs 18654/Sh (Positive)

Nuvama on *Adani Ports:* Maintain Buy on Company, target price at Rs 1960/Sh (Positive)

UBS on *Indian GDP:* Growth in the September quarter was much below consensus expectation, lowering FY25 real GDP growth to 6.3% YoY; sequential pick-up likely in H2 (Neutral)

Bernstein on *Indian GDP:* RBI will get more comfortable with policy actions, but this will impact Rupee, so the pace of cuts has to be modest (Neutral)

Citi on *Indian GDP:* Real GDP growth fell to a 7-quarter low of 5.4% YoY in Q2FY25, there was a broad-based slowdown in industrial growth, while services remained resilient (Neutral)

Jefferies on *Indian GDP:* Weak 5.4% GDP growth for Sep quarter is not surprising as corp results were already implying weakness (Neutral)

HSBC on *Titagarh:* Maintain Buy on Company, cut target price at Rs 1425/Sh (Neutral)

Jefferies on *Bajaj Finance:* Maintain Buy on Company, cut target price at Rs 8400/Sh (Neutral)

UBS on *Pharma Sector:* US price erosion has now reverted to mid-cycle range of 4-6% y/y (Neutral)

Nomura on *Indian GDP:* Slowing consumption and investment growth suggest domestic growth engines are sputtering, we lower our FY25 GDP growth forecast to 6.0% (from 6.7%) (Negative)

MS on *Indian GDP:* QE Sep GDP Disappoints; Mark to Market FY25 Lower (Negative)

MS on *Indusind Bank:* Maintain Equal weight on Company, cut target price at Rs 1150/Sh (Negative)

Investec on *RBL Bank:* Maintain Hold on Company, cut target price at Rs 170/Sh (Negative)

Stocks Picker Articles

02 Dec 2024 04:03

*Stocks in News*


*Dixon Tech:* Company to launch mass production of Google Pixel (Smart Phones) for Compal's designated customer (Positive)

*RVNL:* Company has been awarded a ₹642.57 Cr contract by PSPCL (Positive)

*Emami Realty:* Company is poised to generate an impressive revenue of approx 850 cr from its latest project, Emami Aamod (Positive)

*Coal India:* Company subsidiary, Eastern Coalfields Ltd (ECL), will see a price increase for Rajmahal coal to Rs 700/tonne from Rs 450/tonne, effective 30/11/2024. (Positive)

*DLF:* Company subsidiary sold Kolkata Tech Park to RDB Primarc Techno Park LLP for Rs 637 crore. (Positive)

*GP Petroleum:* Company signed Rs 223 crore supply agreement with Hindustan Petroleum Corporation Ltd for 50,000 MT of Bitumen (Positive)

*Best Agrolife:* Company subsidiary, Sudarshan Farm Chemicals, received a 20-year patent for a process for manufacturing of Methyl 2 (Positive)

*GRP Ltd:* Company secured a €15 million loan from PROPARCO for a secured senior credit facility (Positive)

*Suven Pharmaceuticals:* Long-term bank facilities rating remains on 'Watch Positive', short-term reaffirmed at 'CRISIL A1+. (Positive)

*Ahasolar Technologies:* Company signed a 20-year Power Purchase Agreement with Saffron Enclave Pvt Ltd for a 100 KW solar power plant in Gurgaon. (Positive)

*Lupin:* Company received tentative USFDA approval for a generic diabetes drug (Sitagliptin & Metformin). (Positive)

*Zydus Wellness:* Company acquired 98.14% stake in Naturell (India) Private Limited (Positive)

*Cochin Shipyard:* Company signs a contract worth Rs 1,000 cr with the Ministry of Defence for Short Refit and Dry Docking of a Large Indian Naval Vessel (Positive)

*UBL:* UP state shifts excise duty on beer from alcohol companies to wholesalers (Positive)

*ONGC:* Company acquires 0.615% Stake in ACG and 0.737% stake in BTC, Azerbaijan (Positive)

*Aster:* Company and Blackstone-backed Quality Care to merge and Create One of the Top 3 Hospital Chains in India with 10,150+ beds (Positive)
*Sterlite Tech:* STL won an arbitration case against MTNL, receiving ₹15.90 Cr + interest. (Positive)

*KPI Energy:* Receipt of Letter of Award for Setting up of Grid Connected 300 MWAC Ground Mounted Solar PV Plant Of Coal India Ltd. (Positive)

*Ashok Ley:* Hinduja Tech Completes TECOSIM Group Acquisition, Further Extending Its Global Automotive Engineering Reach (Positive)

*H.G. Infra engineering:* Company has been selected as a qualified bidder by Gujarat Urja Vikas Nigam Ltd for a 250MW/500MWH battery energy storage project (Positive)

*NCC:* Company confident of reaching Rs 20,000-22,000 crore order inflows target, with 58% achieved so far. (Positive)

*KEC International:* Bags New Orders worth Rs 1,040 Cr in Its T&D Business in International Markets (Positive)

*Biocon:* US FDA approves Arm’s Biocon Biologics’ YESINTEK, a monoclonal antibody that is used to treat Crohn’s disease (Positive)

*Greaves:* Board approves Initial Public Offer (IPO) offer of arm Greaves Electric Mobility. (Positive)

*Maruti Suzuki:* Total Sales At 1.81 Lk Units Vs Poll Of 1.77 Lk Units (Positive)

*TVS Motor:* Total Sales At 4.01 Lk Units Vs Poll Of 3.87 Lk Units (Positive)

*TVS Motor:* Company acquires 39.11% stake in DriveX Mobility for Rs 97.79 Cr, increasing its holding to 87.38%. DriveX, a two-wheeler trading and Distribution Company. (Neutral)

*Tata Motors:* Total Sales at 74,753 Units Vs Poll Of 74,200 Units. Company opens facility in Pune to scrap 21,000 vehicles a year (Neutral)

*Macrotech Developers:* Company acquires 100% stake in Janus Logistics (Neutral)

*Cipla:* Block Deal: Promoters to sell 1.7% stake worth Rs 2,000 crore via block deal on Monday. (Neutral)

*Phoenix Mills:* Company subsidiaries, PCPL and ISML, received GST notices totaling Rs 19.96 Cr and Rs 7.76 Cr respectively. (Neutral)

*CESC:* Company acquires 100% of Bhojraj Renewables Energy. (Neutral)

Stocks Picker Articles

29 Nov 2024 04:27

*Forthcoming Event*

29th November: Darshan Orna to consider Bonus issue; Mufin Green Finance, Aarey Drugs & Pharmaceuticals to consider Fund Raising

30th November: Aerpace Industries to consider Fund Raising

02nd December: Agi Infra to consider Stock Split; Manaksia Coated Metals & Industries to consider Fund Raising

Stocks Picker Articles

29 Nov 2024 03:47

*Fund Houses Recommendations*


HSBC on *Apollo Hospitals:* Maintain Buy on Company, target price at Rs 8220/Sh (Positive)

HSBC on *KIMS:* Maintain Buy on Company, target price at Rs 670/Sh (Positive)

HSBC on *Rainbow:* Maintain Buy on Company, target price at Rs 1800/Sh (Positive)

HSBC on *Aster DM:* Maintain Buy on Company, target price at Rs 550/Sh (Positive)

Citi on *Divis Lab:* Maintain Buy on Company, target price at Rs 6850/Sh (Positive)

ICICI on *Allied Blenders:* Initiate Buy on Company, target price at Rs 400/Sh (Positive)

Citi on *Kalyan Jewel:* Maintain Buy on Company, target price at Rs 810/Sh (Positive)

Morgan Stanley on *Life Insurance:* If caps are implemented, this would likely be negative for APE growth (Neutral)

Bernstein on *Life Insurance:* India Life Insurance: Regulatory scrutiny on bank sales intensifying (Neutral)

Kotak Securities on *Life Insurance:* Believe diversification of distribution is anyway a secular and inevitable trend (Neutral)

Jefferies on *Zomato:* Maintain Buy on Company, target price at Rs 335/Sh (Neutral)

Bernstein on *Jubilant Food:* Maintain Outperform on Company, target price at Rs 700/Sh (Neutral)

BofA on *PB Fintech:* Maintain Neutral on Company, target price at Rs 1850/Sh (Neutral)

Investec on *Vedanta:* Maintain Hold on Company, target price at Rs 510/Sh (Neutral)

MS on *Reliance Ind:* Maintain Overweight on Company, target price at Rs 1662/Sh (Neutral)

Goldman Sachs on *Financials:* Sizing microfinance stress: US$4bn – US$18 bn of potential stressed pool Diversified players better placed (Neutral)

Stocks Picker Articles

28 Nov 2024 04:27

*Forthcoming Event*

28th November: Manba Finance, Paisalo Digital to consider Fund Raising

29th November: Darshan Orna to consider Bonus issue; Mufin Green Finance, Aarey Drugs & Pharmaceuticals to consider Fund Raising

30th November: Aerpace Industries to consider Fund Raising

02nd December: Agi Infra to consider Stock Split; Manaksia Coated Metals & Industries to consider Fund Raising

Stocks Picker Articles

28 Nov 2024 03:43

*Stock in Action*

*ANGEL ONE:* Angel One Ltd is a diversified financial services company. As of September 30, 2024, its total client base stood at 27.5 million, of which 3 million were added in Q2FY25. It has an NSE active client base of 7.4 million. The company has processed a total of 489 million orders, of which 349 million are in F&O, 117 million in cash, and 23 million in commodities, with an average daily turnover (on a notional basis) of Rs. 45.4 trillion. Its market share in India’s demat accounts is 15.7%, NSE active clients is 15.4%, retail overall equity turnover is 19.3%, F&O turnover is 20.7%, cash turnover is 17.5%, and commodity turnover is 62.2%. In Q2FY25, the company reported total net income of Rs. 12 billion, a growth of 7.6% QoQ, EBITDA of Rs. 6 billion, a growth of 42.5% QoQ, and PAT of Rs. 4.2 billion, a growth of 44.6% QoQ. 62% of revenue came from gross broking, 24% from interest, 8% from ancillary transaction charges, 5% from depository, 2% from distribution, and 1% from other income. A total of 2.3 million unique SIPs were registered, with 800,000 registered in September 2024. It is among the top two players in incremental SIPs. Angel One AMC received SEBI’s license to commence its mutual fund business and is set to transform the passive investing landscape. It aims to empower investors with transparent and efficient passive investment solutions. The company's sustained focus on growth, client satisfaction, and technological advancement is further solidifying its position as a leading player in India's evolving financial ecosystem. Its digital model enables it to achieve economies of scale with superior lifetime value while optimizing the cost of acquiring clients, thus enabling it to sustain its robust, profitable metrics despite the evolving customer demographics. *Positive on Angel One given the strong fundamentals and performance of the company.*

*PERSISTENT SYSTEMS:* Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It achieved healthy revenue growth of 18.4% YoY and 5.3% QoQ, reaching USD 345.5 million in Q2FY25. In rupee terms, the growth for the quarter was 20.1% YoY and 5.8% QoQ. The EBIT margin for the quarter stood at 14%. In rupee terms, this translates to an EBIT of Rs. 4,062.3 million, an increase of 22.8% YoY. The PAT for the quarter was 11.2%. This quarter's growth was led by the HLS and BFSI industry verticals, which grew by 71.2% and 15.3%, respectively, on a YoY basis. The Software, Hi-tech, and Emerging verticals marginally de-grew by 0.5% YoY. The Total Contract Value (TCV) for the quarter was USD 529 million, with new bookings contributing USD 389.8 million. The Annual Contract Value (ACV) component of this TCV stood at USD 348.3 million, of which ACV from new bookings accounted for USD 218.6 million. The company witnessed healthy YoY growth across its client buckets, with revenue from its Top 5 customers up by 31.5%, Top 10 up by 24.6%, Top 20 up by 22.1%, and Top 50 up by 20.9%. This quarter, it reported 184 customers with TTM revenues over USD 1 million, compared to 178 in the same quarter last year. On a YoY basis, the number of customers in the USD 1-5 million bucket increased by 5, while those in the USD 10-20 million bucket increased by 4. This is a clear demonstration of the company’s ability to scale customer relationships significantly over time. The company is fortifying its Digital Engineering heritage by pivoting to an AI-led, platform-driven services approach. It is offering cutting-edge services in product engineering, data, and cloud; combining its Digital Engineering heritage to unlock AI's limitless potential; developing state-of-the-art generative and deterministic accelerators; and delivering value to its clients while increasing margin-per-employee. *Positive on Persistent Systems given the strong fundamentals and performance of the company.*

Stocks Picker Articles

28 Nov 2024 03:42

*Stocks in News*


*Sonata Software:* Company wins multi-million dollar modernization deal in Australia (Positive)

*Gopal Snacks:* Company launched a new product in its wafers category. (Positive)

*RCF:* Company received approval from the Ministry of Chemicals and Fertilizers to amend its Articles of Association. (Positive)

*Ashoka Buildcon:* Company bags order worth Rs 192.69 cr from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (Positive)

*Padam Cotton:* Company announced a 1:1 bonus share issue (Positive)

*Biocon:* Biocon Biologics partners with Diabetes Africa & St. Paul's Hospital to improve diabetes care in Ethiopia. (Positive)

*PCBL:* Andhra Pradesh government approves allotment of 116.62 acres of land in Naidupeta SEZ for the company (Positive)

*Vedanta:* Moody's upgrades Vedanta Resources' corporate family rating to B2 (Positive)

*Waaree Renewable:* Company gets order worth ₹1,233.5 crore for ground mount Solar PV project of 2012.47 MWp DC capacity (Positive)

*HUDCO:* Company signs Memorandum of Understanding with *NBCC* for development of 10 acres of land parcel in Noida (Positive)

*KEC International:* Company bags order worth ₹1,704 crore in transmission & distribution business from Power Grid Corp (Positive)

*Indo Amines:* Company announces NCLT approval for the amalgamation of Pious Engineering Pvt Ltd (Positive)

*Tulsyan NEC:* Company sold 3.5 acres of land in Bangalore for Rs 21.5 crore to FP Seating Pvt. Ltd. (Positive)

*Godrej properties:* Company seeks to sell 5.5% equity (1.54 crore shares) of the company via QIP to raise up to ₹4,000 crore, sources to CNBC. (Neutral)

*Bank of India:* Bank raises Rs 5,000 crore through long-term bonds issue (Neutral)

*Max India:* Company appointed Ms. Trapti as Company Secretary & Compliance Officer, effective Nov 27, 2024. (Neutral)

*JTEKT India:* Company received a Show Cause Notice from Haryana tax authorities demanding Rs 44.2 Cr in GST (Neutral)

*LIC:* Company gets GST demand, interest & penalty order of ₹529.6 crore for FY19-20 (Neutral)

*Bajaj Holdings:* Company acquired 0.1506% stake in Mphasis Ltd for Rs 66.43 Cr. (Neutral)

*Dr. Reddy's:* Company received fine notices from German authorities for its subsidiaries' delayed beneficial owner registration. (Neutral)

*Samrat Forgings:* Company received a show cause notice from GST authorities for Rs 11.44 Cr for FY20-21 (Neutral)

*Dhampur Bio:* Company acquired 100% of Sonitron Bio Organics Pvt. Ltd. (Neutral)

*ZF Commercial Vehicle:* ZF Group sold 4.3% stake in its Indian subsidiary, ZF Commercial Vehicle Control Systems India Ltd. (Neutral)

*ICICI Bank:* Company received revised GST demand orders totaling INR 39.6Cr from Bihar (Rs 25 lakhs and Maharashtra’s 37.8 Cr. (Neutral)

*Adani Green energy:* Adani Saur Urja incorporates wholly-owned arms AHE2L & AHE3L on November 27. (Neutral)

*Jet Airways:* NCLT Appoints Satish Kumar Gupta as The Liquidator Of Jet Airways (India) (Neutral)

*Axis Bank:* Clarifies on SEBI order restraining ACL from taking up any new assignments in capacity of merchant banker, arranger or underwriter. (Neutral)

Stocks Picker Articles

27 Nov 2024 04:29

*Corporate Actions*

NTPC Green Energy is set to make stock market debut today, November 27. The issue price is fixed at Rs. 108 per share.

*Dividend*

*27-Nov-24*
MULTIBASE: Interim Dividend - Rs. - 53.00
INGERRAND: Interim Dividend - Rs. - 55.00
PADAMCO: Interim Dividend - Rs. - 1.00
PGIL: Interim Dividend - Rs. - 5.00
HAPPSTMNDS: Interim Dividend - Rs. - 2.50
IPCALAB: Interim Dividend - Rs. - 2.00
NATCOPHARM: Interim Dividend - Rs. - 1.50
KHAZANCHI: Interim Dividend - Rs. - 0.50
BHATIA: Interim Dividend - Rs. - 0.01

*28-Nov-24*
BAYERCROP: Interim Dividend - Rs. - 90.00
PGHL: Final Dividend - Rs. - 60.00
JAMNAAUTO: Interim Dividend - Rs. - 1.00
GPTHEALTH: Interim Dividend - Rs. - 1.00
INDAG: Interim Dividend - Rs. - 0.90
PANCHSHEEL: Interim Dividend - Rs. - 0.80

*29-Nov-24*
NATIONALUM: Interim Dividend - Rs. - 4.00
HBPOR: Interim Dividend - Rs. - 1.00
VRLLOG: Interim Dividend - Rs. - 5.00
GODFRYPHLP: Interim Dividend - Rs. - 35.00
SURYAROSNI: Interim Dividend - Rs. - 2.50
CAREERP: Interim Dividend - Rs. - 1.00
NICCOPAR: Interim Dividend - Rs. - 0.20
TALBROAUTO: Interim Dividend - Rs. - 0.20
VENUSPIPES: Interim Dividend - Rs. - 0.50
DYNAMATECH: Interim Dividend - Rs. - 2.00

*03-Dec-24*
INDOUS: Interim Dividend - Rs. - 0.25

*IPO*
Suraksha Diagnostic: Open: 29-Nov-24; Close: 03-Dec-24
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Spright Agro: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24

*Right Issue*
Jonjua Overseas: Ex-Date: 29-Nov-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24

Stocks Picker Articles

27 Nov 2024 03:26

*Fund Houses Recommendations*


Bernstein on *Zomato:* Maintain Outperform on Company, target price at Rs 335/Sh (Positive)

Antique on *Siemens:* Maintain Buy on Company, target price at Rs 8856/Sh (Positive)

Nuvama on *Siemens:* Maintain Buy on Company, target price at Rs 8350/Sh (Positive)

Emkay on *Gulfoil:* Maintain Buy on Company, target price at Rs 1800/Sh (Positive)

MS on *Coal India:* Initiate Overweight on Company, target price at Rs 525/Sh (Positive)

JPMorgan on *Hyundai:* Initiate Overweight on Company, target price at Rs 2200/Sh (Positive)

MS on *Hyundai:* Initiate Overweight on Company, target price at Rs 2418/Sh (Positive)

Nuvama on *M&M:* Maintain Buy on Company, target price at Rs 3700/Sh (Positive)


Emkay on *M&M:* Maintain Buy on Company, target price at Rs 2700/Sh (Neutral)

MS on *Prestige:* Downgrade to Underweight on Company, cut target price at Rs 1510/Sh (Negative)

Stocks Picker Articles

26 Nov 2024 04:30

*Forthcoming Event*

26th November: CANFINHOME, SIEMENS to consider Dividend; Emerald Finance Ltd. to consider Fund Raising

27th November: Padam Cotton Yarns to consider Bonus issue

28th November: Manba Finance, Paisalo Digital to consider Fund Raising

29th November: Darshan Orna to consider Bonus issue

30th November: Aerpace Industries to consider Fund Raising

02nd December: Agi Infra to consider Stock Split

Stocks Picker Articles

26 Nov 2024 03:12

*Stock in Action*

*BHARAT ELECTRONICS:* Bharat Electronics Ltd (BEL), a prominent manufacturer and supplier of electronic equipment and systems to the defence sector, reported strong financial performance for the second quarter of FY25. The company achieved a turnover of Rs. 8,530 crores, reflecting a YoY growth of 15.83%. Net revenue stood at Rs. 4,605 crores, while EBITDA amounted to Rs. 1,400 crores, with an EBITDA margin of 30%. The net profit for the quarter was Rs. 1,093 crores. In H1FY25, BEL secured an order inflow of Rs. 7,500 crores and is on track to meet its full-year order guidance of Rs. 25,000 crores. Key anticipated orders include the Ashwini Radar worth approximately Rs. 2,500 crores, the Electronic Warfare Suite for MI-17 valued at Rs. 2,000 crores, the ATULYA Order of Rs. 2,000 crores, and the Shakti Phase IV project, also estimated at Rs. 2,000 crores. During Q2FY25, BEL successfully executed six major orders. Looking ahead, BEL expects to execute significant projects in the next two quarters, including the LRSAM (Long Range Surface to Air Missile) project, valued at over Rs. 1,600 crores. Additionally, the company is set to complete the Himshakti Electronic Warfare project, worth Rs. 800 to Rs. 900 crores, as well as the instrumented EW Range project, valued at approximately Rs. 750 crores. Other notable orders include Rs. 500 crores worth of equipment for the D-29 EW system and Rs. 450 crores for the weapon-locating radar planes. As of October 1, 2024, BEL's order book stands at Rs. 74,595 crores. The company also received an additional Rs. 500 crores in orders, as disclosed in a recent press release. *Positive on Bharat Electronics given the strong order book and performance of the company.*

*ZOMATO:* Zomato Limited, one of the leading online food service platforms in terms of food sales value, operates across three key business segments: Food Delivery and Dining Out, Hyperpure, and Blinkit. The company’s primary business remains food delivery and dining out. Hyperpure focuses on farm-to-fork solutions, supplying fresh ingredients to restaurants across India, while Blinkit, a rapid grocery delivery service, is the market leader in the e-commerce segment, which is currently experiencing significant growth. Zomato also organizes concerts and events and is expanding into the entertainment ticketing sector through the acquisition of Paytm’s entertainment business. For Q2FY25, Zomato reported consolidated adjusted revenue of Rs. 5,127 crores, reflecting a 58% YoY growth and a 13% QoQ increase, broadly aligned with the growth in gross order value (GOV). Consolidated adjusted EBITDA grew by Rs. 289 crores YoY, reaching Rs. 330 crores, driven by improved margins across all business segments. Zomato's GOV across its business-to-consumer (B2C) segments increased by 55% YoY (14% QoQ), totaling Rs. 17,670 crores in Q2FY25. On a like-for-like basis, excluding the impact of the Paytm acquisition, GOV growth was 53% YoY (13% QoQ). Specific segment performance includes a 21% YoY (5% QoQ) growth in Food Delivery GOV, a 122% YoY (25% QoQ) growth in Quick Commerce GOV, and a 171% YoY (46% QoQ) growth in Going-Out GOV, with like-for-like GOV growing by 139% YoY (29% QoQ). Zomato's B2B segment, Hyperpure, saw a revenue increase of 98% YoY (22% QoQ). In Q2FY25, Blinkit added 152 net new stores and seven warehouses, contributing to its expansion. However, the ramp-up of new stores and warehouses is typically margin dilutive in the short term. The new stores have now reached approximately Rs. 7 lakh of GOV per day. *Positive on Zomato given the strong fundamentals and performance of the company.*

Stocks Picker Articles

26 Nov 2024 03:11

*Zomato:* Company announced QIP and sets floor price at Rs 265.9/Sh versus previous close 273.3/Sh. (Neutral)

*Adani Group:* Fitch places Adani Energy, Adani Ports and Adani Electricity Mumbai on 'watch negative' (Neutral)

*IDFC First:* Neeraj Naidu resigns as 'Chief Information Security Officer' of IDFC First Bank w.e.f. November 25, 2024 (Neutral)

*GE Vernova:* Grid Equipments will sell up to (8.38% stake) via OFS on NSE & BSE. (Negative)

*ACME Solar:* Net profit at Rs 15.2 cr vs Rs 38.6 cr, Revenue at Rs 259 cr vs Rs 323 cr (YoY) (Negative)

*Adani Green:* Fitch revised outlook for Adani Green to Negative from Stable. (Negative)

Stocks Picker Articles

25 Nov 2024 04:23

*Forthcoming Event*

25th November: A B Infrabuild, Eiko Lifesciences, India Finsec, SIS to consider Fund Raising; Dev Information Technology consider Stock Split

26th November: CANFINHOME, SIEMENS to consider Dividend; Emerald Finance Ltd. to consider Fund Raising

27th November: Padam Cotton Yarns to consider Bonus issue

28th November: Manba Finance to consider Fund Raising

29th November: Darshan Orna to consider Bonus issue

30th November: Aerpace Industries to consider Fund Raising

Stocks Picker Articles

25 Nov 2024 03:52

Over the last three years, the company has generated compounded revenue growth of 31% and compounded profit growth of 61%. The company’s working capital requirements have been reduced from 218 days to 137 days. *Positive on Info Edge (India) given the strong fundamentals and performance of the company.*

Stocks Picker Articles

25 Nov 2024 03:52

*Fund Houses Recommendations*

Citi on *Reliance Ind:* Upgrade to Outperform on Company, target price at Rs 1530/Sh (Positive)

Jefferies on *M&M:* Maintain Buy on Company, target price at Rs 3700/Sh (Positive)

HSBC on *M&M:* Maintain Buy on Company, target price at Rs 3390/Sh (Positive)

MS on *Oberoi Real:* Maintain Equal weight on Company, target price at Rs 2060/Sh (Positive)

Bernstein on *NTPC:* Maintain Outperform on Company, target price at Rs 440/Sh (Positive)

Antique on *India Strategy:* Believes recent market correction good opportunity to accumulate stocks. (Positive)

Emkay on *India Strategy:* Cuts Nifty target by 4% to 25,000 from 26,000. (Neutral)

Jefferies on *Maruti:* Maintain Hold on Company, target price at Rs 10900/Sh (Neutral)

GS on *Astral:* Maintain Hold on Company, cut target price at Rs 2170/Sh (Neutral)

HSBC on *Escorts:* Maintain Neutral on Company, target price at Rs 3180/Sh (Neutral)

MS on *SBI Cards:* Maintain Equal weight on Company, target price at Rs 650/Sh (Neutral)

Stocks Picker Articles

02 Dec 2024 04:03

*TBO Tek Limited:* Company incorporated a wholly-owned subsidiary, PT TBO Tek Indonesia, in Indonesia (Neutral)

*IndiaMART Intermesh:* Company invests Rs 14.28 Cr in Mobisy Technologies, a SaaS firm, increasing its stake to 31.33% (Neutral)

*Shriram Finance:* Company acquired 40,000 CCDs of Shriram Housing Finance Ltd. from Kotak Mahindra Investments Ltd. for Rs 423.95 Cr. (Neutral)

*Coromandel:* Company received a customs order demanding ₹7.31 Cr in IGST, ₹3.76 Cr redemption fine and penalty. (Neutral)

*KIMS:* Company Secretary and Compliance Officer, CS. Uma Shankar Mantha, resigned. Effective December 17, 2024 (Neutral)

*Aster DM Healthcare:* Company to acquire 1.9 cr shares of QCIL at Rs 445.8/share (Neutral)

*Max Financial Services:* Company unit max life insurance has not received any IRDAI directive on Bancassurance capping. (Neutral)

*Adani Enterprises Ltd:* Company acquired Aviserve Facilities Private Limited and Aviground Facilities Private Limited by WOS of the Company. (Neutral)

*REC:* Ms. Rashmita Jha's additional charge as Chief Vigilance Officer (Neutral)

*Castrol India:* Company completed its ₹487.5 Cr acquisition of a 7.09% stake in ki Mobility Solutions (Neutral)

*Petronet LNG:* Company's board reappointed Sanjeev Mitla and Sundeep Bhutoria as Independent Directors for 3 years. (Neutral)

*Hero Motocorp:* Total Sales at 4.60 Lk Units Vs Poll Of 4.78 Lk Units (Neutral)

*Hero MotoCorp:* Company announces the resignation of Rachna Kumar, Chief Human Resource Officer. (Neutral)

*RBL Bank and Bajaj Finance:* Mutually agree to stop issuance of new co-branded credit cards (Neutral)

*BSE:* NSE transferred Monthly expiry of Fin Nifty, Midcap select, Bank Nifty and Nifty Next 50 to Thursday, BSE also initially shifted all expiries on Tuesday (Neutral)

*CreditAccess:* Raises Euro 25 Million from the German Investment Corporation, DEG (Neutral)

*Greaves:* Neeraj Sharan elevated to Executive Director & CEO of Excel Controlinkage (Neutral)

*Mayur Uniquoters:* Credit rating reaffirmed by CARE Ratings. Long-term bank facilities rating remains CARE AA; Stable. (Neutral)

*Mahindra & Mahindra:* Company announces the incorporation of Steer Hybren Pvt Ltd., a wholly-owned subsidiary of its subsidiary, Mahindra Susten Pvt Ltd (Neutral)

*Arfin India Ltd:* company announced the resignation of CFO Tarunkumar Acharya, effective November 30, 2024 (Neutral)

*MOIL:* Cuts Price of Ore with Manganese Content of Mn-44% & Above By 3%. Price of Ore with Manganese Content Below 44% Increased By 1% (Neutral)

*Aviation Stocks:* ATF Price Increased In Delhi to Rs 91,856.84/kl from Rs 90,538.72/kl (Neutral)

*Shalimar Paints:* Acuite downgraded and withdrew ratings due to GECL loan servicing delays. (Negative)

*Home First:* True North, Orange Clove, Aether Fund to sell 14.7% stake via block deals as media sources. (Negative)

*Hyundai:* Total Sales At 61,252 Units Vs Poll Of 65,000 Units (YoY) (Negative)

*Escorts Kubota:* Total Sales Down 9.4% At 8,974 Units Vs Poll of 9700 Units. (Negative)

Stocks Picker Articles

29 Nov 2024 04:27

*Corporate Actions*

Enviro Infra Engineers is set to make stock market debut today, November 29. The issue price is fixed at Rs. 148 per share.

PC Jeweller has fixed December 16 as the record date for the sub-division or split of 1 equity share with a face value of Rs 10 each into 10 equity shares, each with a face value of Re 1.

*Dividend*

*29-Nov-24*
NATIONALUM: Interim Dividend - Rs. - 4.00
HBPOR: Interim Dividend - Rs. - 1.00
VRLLOG: Interim Dividend - Rs. - 5.00
GODFRYPHLP: Interim Dividend - Rs. - 35.00
SURYAROSNI: Interim Dividend - Rs. - 2.50
CAREERP: Interim Dividend - Rs. - 1.00
NICCOPAR: Interim Dividend - Rs. - 0.20
TALBROAUTO: Interim Dividend - Rs. - 0.20
VENUSPIPES: Interim Dividend - Rs. - 0.50
DYNAMATECH: Interim Dividend - Rs. - 2.00

*03-Dec-24*
INDOUS: Interim Dividend - Rs. - 0.25

*IPO*
Suraksha Diagnostic: Open: 29-Nov-24; Close: 03-Dec-24
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Easy Trip Planners: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Spright Agro: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24

*Right Issue*
Jonjua Overseas: Ex-Date: 29-Nov-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24

Stocks Picker Articles

29 Nov 2024 03:47

*Stock in Action*

*TITAGARH RAIL SYSTEMS:* Titagarh Rail Systems Ltd is primarily engaged in the manufacturing and sale of freight wagons, passenger coaches, metro trains, etc. It is the only Indian company to manufacture both wagons and coaches. The company has four manufacturing facilities with a combined capacity of 12,000 wagons and 300 coaches per year. It holds ~30% market share in wagon manufacturing and is the largest manufacturer in India. The company continues to be a net debt-negative entity. In Q2FY25, the company reported net revenue of Rs. 1,057 crores, up by 13% YoY. EBITDA was Rs. 129.41 crores, an increase of 12.5% YoY. PAT stood at Rs. 85 crores, marking a 20% YoY growth. It recorded its highest-ever quarterly revenue and profit. The company is the market leader in freight wagon manufacturing and sold 2,670 wagons during the quarter, a growth of 48% YoY. It remains fully committed to enhancing and stabilizing production, with an aim to achieve a steady output of 12,000 wagons per annum. During the quarter, it sold 185 traction motors and converters. The company follows a vertically integrated model focused on backward integration and supply chain management. The company has a strong order book position, having received approximately Rs. 459 crores worth of orders in H1FY25 across various business segments. This includes Rs. 250 crores worth of orders for freight rolling stock and Rs. 209 crores worth of orders for propulsion systems. As of September 2024, the company's order book includes orders for approximately 14,560 wagons and 1,592 metro and Vande Bharat coaches. Its total order book as of September 2024 is valued at Rs. 12,207 crores. The capital outlay for Indian Railways in FY25 is Rs. 2.62 lakh crores, which represents 22.7% of the total budgetary capex and is 2.7% higher than FY24. The company expects to source additional rolling stock to meet rising volumes, as India is emerging as one of the major exporters of coaches and rakes. *Positive on Titagarh Rail Systems given the strong fundamentals and performance of the company.*

*COCHIN SHIPYARD:* Cochin Shipyard is a leading player in the construction of all kinds of vessels, as well as the repair and refitting, including periodic upgrades and life extension of ships. In Q2FY25, the company reported revenue of Rs. 1,143 crores, a growth of 15% YoY, driven by better execution in shipbuilding (16% YoY) and ship repair (12% YoY). EBITDA was Rs. 197 crores, which remained flat due to high input costs. PAT stood at Rs. 189 crores. The order backlog is at Rs. 22,000 crores, and the order pipeline remains healthy at Rs. 7,820 crores. CSL is actively pursuing opportunities in green energy platforms and hybrid ships, which have now become key focus areas. CSL’s long-term prospects have improved in terms of capacity expansion, order visibility, and increasing ship repair orders. The dry dock expansion (Rs. 1,790 crores) and the International Ship Repair Facility (ISRF) expansion (Rs. 970 crores) have been completed. With this expansion, CSL has doubled the operational capability of the yard, enabling it to construct and repair larger vessels, such as LNG carriers and new-generation aircraft carriers. Management is pursuing opportunities amounting to Rs. 30,000 crores, which are largely in the RFI stage. Furthermore, on the commercial side, the company has bagged foreign shipbuilding orders. *Positive on Cochin Shipyard given the strong fundamentals and performance of the company.*

Stocks Picker Articles

29 Nov 2024 03:46

*Stocks in News*


*Balkrishna Industries:* Credit rating upgraded by CRISIL. Long-term rating improved to CRISIL AA+/Stable from CRISIL AA/Positive for Rs 1000 Cr bank loan facilities (Positive)

*Tiger Logistics:* Strengthens Position with Renewed Government Partnerships for International Freight Handling (Positive)

*Aster DM Healthcare:* Deal imminent between Company & Black stone-owned care hospitals, new entity will be the second-biggest hospital chain in the country. (Positive)

*PC Jeweller:* Company sets December 10 as record date for 1:10 stock split (Positive)
*Narayana Health:* In talks to acquire controlling stake in Spire Healthcare (Positive)

*PCBL:* The second and final phase i.e, 20,000 MTPA of 40,000 MTPA specialty chemical capacity at Mundra Plant, Gujarat has been commissioned (Positive)

*SAIL:* Company said it has entered into a partnership with the Indian arm of John Cockerill Group for using green technologies in iron and steelmaking processes. (Positive)

*BSE:* The weekly contracts of Sensex will expiry on Tuesday of every week instead of Fridays. Sensex, Bankex and Sensex 50 monthly expiry would be on last Tuesday on every month. (Neutral)

*Reliance Ind:* Arm Reliance Finance and Investments USA LLC acquires 21% stake in Wavetech Helium for $12 m (Neutral)

*Jamna Auto:* Company received a Show Cause Notice from the Indian government for Rs 7.31 Cr in GST dues for FY21. (Neutral)

*PFC:* PFC Consulting Ltd, a subsidiary of Company, incorporated Kandla GHA Transmission Ltd as a wholly-owned subsidiary. (Neutral)

*Starlineps Enterprises:* Company invested Rs 2.5 million in PETMOJO (Neutral)

*Autopal Industries:* Company appointed Mr. Mandeep Singh as Company Secretary. (Neutral)

*Phoenix Mills:* Company received a show cause notice from GST authorities for Rs 1.44 Cr tax liability for FY2020-21. (Neutral)

*Adani Power:* Company achieves top 80 percentile in global electric utilities for sustainability (Neutral)

*SBI Life Insurance:* Company clarifies on news on regulatory concerns, No regulatory discussions on Bancassurance arrangements (Neutral)

*Max Financial Services:* Company unit max life insurance has not received any IRDAI directive on Bancassurance capping. (Neutral)

*HDFC Life:* Bancassurance regulations by IRDAI & says the news is based on rumours and speculation, and we would like to categorically state that the information mentioned is inaccurate. (Neutral)

*Bajaj Holdings:* Company picks up shares in TCS, hikes stake in Mphasis and Bharti Airtel (Neutral)

*KEI Industries:* Company announced that it has closed its Qualified Institutional Placement (QIP) through which it planned on raising funds (Neutral)

*Sun Pharma:* Company said the Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials. (Neutral)

*Zee Entertainment:* Punit Goenka fails to get shareholders' nod to be re-appointed as Director of company. (Neutral)

*Zomato:* Company approves allocation of 33.6 crore shares via QIP at issue price of Rs 252.62/share. (Neutral)

Stocks Picker Articles

28 Nov 2024 04:27

*Corporate Actions*

Padam Cotton Yarns have recommended issue of 38,73,000 bonus shares having face value of Rs. 10/- in the ratio of 1:1 i.e. One Equity Shares of face value of Rs. 10/- each for One existing Equity Share of face value of Rs. 10/- each subject to the approval of the shareholders.

*Dividend*

*28-Nov-24*
BAYERCROP: Interim Dividend - Rs. - 90.00
PGHL: Final Dividend - Rs. - 60.00
JAMNAAUTO: Interim Dividend - Rs. - 1.00
GPTHEALTH: Interim Dividend - Rs. - 1.00
INDAG: Interim Dividend - Rs. - 0.90
PANCHSHEEL: Interim Dividend - Rs. - 0.80

*29-Nov-24*
NATIONALUM: Interim Dividend - Rs. - 4.00
HBPOR: Interim Dividend - Rs. - 1.00
VRLLOG: Interim Dividend - Rs. - 5.00
GODFRYPHLP: Interim Dividend - Rs. - 35.00
SURYAROSNI: Interim Dividend - Rs. - 2.50
CAREERP: Interim Dividend - Rs. - 1.00
NICCOPAR: Interim Dividend - Rs. - 0.20
TALBROAUTO: Interim Dividend - Rs. - 0.20
VENUSPIPES: Interim Dividend - Rs. - 0.50
DYNAMATECH: Interim Dividend - Rs. - 2.00

*03-Dec-24*
INDOUS: Interim Dividend - Rs. - 0.25

*IPO*
Suraksha Diagnostic: Open: 29-Nov-24; Close: 03-Dec-24
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Spright Agro: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24

*Right Issue*
Jonjua Overseas: Ex-Date: 29-Nov-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24

Stocks Picker Articles

28 Nov 2024 03:43

*Fund Houses Recommendations*


GS on *Marico:* Maintain Buy on Company, target price at Rs 720/Sh (Positive)

UBS on *PayTM:* Maintain Neutral on Company, raise target price at Rs 1000/Sh (Positive)

Jefferies on *Colgate:* Maintain Buy on Company, target price at Rs 3570/Sh (Positive)

CLSA on *Bharti Airtel:* Maintain Outperform on Company, target price at Rs 1860/Sh (Positive)

Nuvama on *Electronics Mart:* Initiate Buy on Company, target price at Rs 237/Sh (Positive)

Nuvama on *Aditya Vision:* Initiate Buy on Company, target price at Rs 672/Sh (Positive)

Nuvama on *Brigade:* Maintain Buy on Company, target price at Rs 1509/Sh (Positive)

Nuvama on *Prestige:* Maintain Buy on Company, target price at Rs 2153/Sh (Positive)

HSBC on *Real Estate:* Q2 appeared a bit slow on bookings, not on account of demand but on lack of inventory. Buy on *DLF, Godrej Prop, Prestige and Sobha* (Positive)

BofA on Pharma: Neutral rating only on *Torrent Pharma* in domestic focused stocks (Neutral)

GS on *Colgate:* Maintain Sell on Company, target price at Rs 2750/Sh (Neutral)

Citi on *Colgate:* Maintain Sell on Company, target price at Rs 3000/Sh (Neutral)

GS on *Amber:* Downgrade to Neutral on Company, raise target price at Rs 6300/Sh (Neutral)

Citi on *OLA:* Maintain Buy on Company, target price at Rs 90/Sh (Neutral)

Stocks Picker Articles

27 Nov 2024 04:29

*Forthcoming Event*

27th November: Padam Cotton Yarns to consider Bonus issue

28th November: Manba Finance, Paisalo Digital to consider Fund Raising

29th November: Darshan Orna to consider Bonus issue; Mufin Green Finance, Aarey Drugs & Pharmaceuticals to consider Fund Raising

30th November: Aerpace Industries to consider Fund Raising

02nd December: Agi Infra to consider Stock Split

Stocks Picker Articles

27 Nov 2024 03:26

*Stock in Action*

*AWFIS SPACE SOLUTIONS:* Awfis is India’s largest and fastest-growing end-to-end Workspace Solutions Platform, serving shared communities and delivering exceptional experiences. It is the market leader with the largest network and the industry leader in the capital-efficient “Managed Aggregation” model. It crossed 1.1 lakh operational seats in September 2024. Since September 2023, 52 new centres and 35,651 new seats were launched, expanding its presence to 9 Tier 2 cities and 7 new micro-markets. It increased its Tier 2 presence by ~43%, growing from 14 centres to 20 centres since September 2023. It is now present in 18 cities and 58 micro-markets. The company achieved a total supply of 205 centres, 130K+ seats, and 6.6 million sq. ft. of chargeable area. Operational seats and centres grew by 48% and 41% YoY, respectively. Total seats and centres grew by 41% and 36% YoY, respectively. It has 67% of total seats and 64% of total centres under the MA model as of September 2024, driving capital efficiencies for the business. Seats under the MA model grew by 39% YoY, increasing its MA share from 63,000 total MA seats to 87.9K total MA seats. Centres under the MA model grew by 35% YoY, increasing its MA share from 97 total MA centres to 131 total MA centres. The company secured deals worth ~Rs. 175 crores in H1FY25 across Awfis landlords, third-party clients in IT/ITES, BFSI, and telecom sectors, and for establishing Global Capability Centres (GCCs). It is also launching "Elite," an uber workspace, and expanding with the Prestige Group. In Q2FY25, the company reported revenue from operations of Rs. 292 crores, up 40% YoY, and EBITDA of Rs. 100 crores, up 67% YoY. The core drivers for Awfis are the growing flex sector, innovative supply model, network leadership, and strong demand strategy. *Positive on Awfis Space Solutions given the strong fundamentals and performance of the company.*

*KEC INTERNATIONAL:* KEC International is a global infrastructure EPC major in segments like T&D, Civil, Urban Infrastructure, Railways, Oil & Gas, Renewables, and Cables. It is the flagship company of the RPG Group. It has a footprint in 110+ countries and has 300+ ongoing projects. In Q2FY25, the company reported net revenue from operations of Rs. 5,113 crores, up 14% YoY; EBITDA of Rs. 320 crores, up 17% YoY; and net profit of Rs. 85 crores, up 53% YoY. Its T&D business reported revenues of Rs. 2,831 crores, reflecting robust growth of 28% YoY. It has a record order book and L1 of over Rs. 26,000 crores. The civil business reported revenues of Rs. 1,152 crores and has a strong order book of ~Rs. 10,000 crores. The railway business reported revenues of Rs. 503 crores, with a YTD order intake of over Rs. 1,300 crores in the conventional and emerging areas of metros. The oil and gas business reported revenues of Rs. 92 crores. The renewable business has an order book of over Rs. 1,300 crores and is actively bidding for select opportunities in this sector. The cables business reported revenues of Rs. 441 crores and has secured its maiden order for cable supply to the United States. KEC has a YTD order intake of Rs. 13,482 crores and an order book of Rs. 34,088 crores as of YTD FY25. The company has its highest-ever order book + L1 of over Rs. 42,500 crores and has tenders under evaluation and in the pipeline worth ~Rs. 1,50,000 crores. KEC has gained significant traction in India’s T&D sector as the National Electricity Plan (NEP) is launched. It also has substantial opportunities in renewable EPC, and railways, where the government’s focus is shifting toward conventional infrastructure development and safety, with Kavach tenders announced. *Positive on KEC International given the strong fundamentals and performance of the company.*

Stocks Picker Articles

27 Nov 2024 03:25

*Stocks in News*


*Lumax Auto:* Lumax Resources acquires 60% stake in Greenfuel Energy Solutions for ₹153 crore (Positive)

*Renaissance Global:* CRISIL Ratings upgrades ‘long-term’ credit rating of company from 'BBB+' to 'A-’, outlook stable (Positive)

*TCS:* Company secures an extension for processing pensions of 30 lakh defense personnel. (Positive)

*Zaggle Prepaid:* Company signs referral partnership agreement with Mastercard. (Positive)

*Sarveshwar Foods:* Company’s subsidiary secures 12,000 MT order for rice, eyes Rs 2000 million annual revenue (Positive)

*A B Infrabuild:* Company secures new project for rebuilding of FOBs and skywalk between Goregaon to Borivali stations (Positive)

*Agarwal Industrial Corp:* Company secured bitumen supply tenders from Bharat petroleum Rs 55 cr and Indian oil Rs 2.5 cr, totaling 18,000 MTS worth Rs 76.5 cr. (Positive)

*RVNL:* Company emerged as L1 bidder for contract worth Rs 625 cr (Positive)

*Infosys:* Company to distribute up to 85% variable pay bonus for Q2 FY25, Moneycontrol (Positive)

*Wipro:* Company extends its work with Marelli for continued evolution of it infrastructure for another four years (Positive)

*Vedanta:* Company to invest $2 billion in Saudi copper-processing facilities (Positive)

*Dr. Reddy's Laboratories:* Company and Senores Pharmaceuticals, Inc. Announce the Launch of Ivermectin Tablets USP, 3 mg in US Market (Positive)

*Kotak Bank:* CCI India approves Kotak Mahindra Bank’s proposal to buy Standard Chartered Bank India's unsecured personal loan book (Positive)

*Siemens:* * Net Profit At ₹830.7 Cr Vs Poll Of ₹717 Cr, Revenue At ₹6,461 Cr Vs Poll Of ₹6,526.1 Cr (Positive)

*UltraTech Cement:* Board approves raising funds up to ₹1,000 cr via NCDs. (Neutral)

*Adani Ent:* April Moon Retail, a JV of Adani Airport Holdings acquires 74% stake of Cococart Ventures (Neutral)

*Axis Bank:* Axis AMC & Axis Mutual Fund Trustee settles SEBI proceedings over TER violations with ₹16.57 lakh, without admitting guilt. (Neutral)

*Patanjali:* LIC raises stake in Patanjali Foods from 4.986% to 5.020%. (Neutral)

*GE Vernova:* Grid Equipments, one of the promoters of the company, will exercise green shoe option of the OFS, floor price at ₹1,550/sh. (Neutral)

*Ola Electric:* Company launches Gig and S1 Z range of scooters in the price range of ₹39,999 – 64,999. (Neutral)

*Petronet LNG:* Company informs of director changes. Shri Satish Kumar Vaduguri's resignation as Director is effective Nov 29, 2024. (Neutral)

*Biocon:* Company’s credit rating reaffirmed at CRISIL AA+/Stable; A1+. (Neutral)

*NTPC:* Company formed a JV with with MAHAGENCO. (Neutral)

*Exide Industries:* Company invests Rs 100 crores in subsidiary Exide Energy Solutions. (Neutral)

*HAL:* Company appointed Shri Ravi K as Director Operations. (Neutral)

*PSP Projects:* Adani Infra will acquire 30% stake in Company, with a further open offer for 26%, leading to equal equity. (Neutral)

*Dabur:* Company gets revised ₹320.6 crore GST demand; penalty dropped (Neutral)

*Sun Pharma:* Subsidiary received a regulatory order resulting in fines totaling INR 72.5 Cr (Neutral)

*M&M:* Company launches BE 6E & XEV 9E electric SUVs (Neutral)

*Aster DM:* Company has entered into an agreement to acquire the balance stake in Aster Adhaar Hospital (Prerana Hospital Limited) in Kolhapur (Neutral)

*Adani Power:* Andhra Pradesh likely to suspend Adani Power deal. (Negative)

*Fusion Micro:* ICRA downgraded Fusion Finance's credit rating for Non-convertible debentures (Negative)

Stocks Picker Articles

26 Nov 2024 04:30

*Corporate Actions*

GE Vernova T&D India Promoter Grid Equipments will sell up to an 8.38% stake in GE Vernova via an offer-for-sale, including a base issue of 5.47% equity and a greenshoe option of 2.91% equity. The issue will open for non-retail investors on November 26 and for retail investors on November 27.

Dev Information Technology has approved sub-division/ split of the existing Equity Shares having face value of Rs. 5/- each, into Equity Shares having face value of Rs. 2/- each, subject to the approval of Equity Shareholders in the ensuing Extra Ordinary General Meeting.

*Dividend*

*26-Nov-24*
MORGANITE: Interim Dividend - Rs. - 30.00
POLYPLEX: Interim Dividend - Rs. - 9.00
GPTINFRA: Interim Dividend - Rs. - 1.00
SUNTV: Interim Dividend - Rs. - 5.00
ELPROINTL: Interim Dividend - Rs. - 0.70
KSCL: Interim Dividend - Rs. - 5.00
GILLETTE: Final Dividend - Rs. - 45.00
DOLATALGO: Interim Dividend - Rs. - 0.25
DEVIT: Interim Dividend - Rs. - 0.25
GANECOS: Interim Dividend - Rs. - 1.50

*27-Nov-24*
MULTIBASE: Interim Dividend - Rs. - 53.00
INGERRAND: Interim Dividend - Rs. - 55.00
PADAMCO: Interim Dividend - Rs. - 1.00
PGIL: Interim Dividend - Rs. - 5.00
HAPPSTMNDS: Interim Dividend - Rs. - 2.50
IPCALAB: Interim Dividend - Rs. - 2.00
NATCOPHARM: Interim Dividend - Rs. - 1.50
KHAZANCHI: Interim Dividend - Rs. - 0.50
BHATIA: Interim Dividend - Rs. - 0.01

*IPO*
Enviro Infra Engineers: Open: 22-Nov-24; Close: 26-Nov-24

*Buyback*
---

*Bonus*
Spright Agro: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24

*Right Issue*
NHC Foods: Ex-Date: 26-Nov-24
UPL: Ex-Date: 26-Nov-24
Jonjua Overseas: Ex-Date: 29-Nov-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24

Stocks Picker Articles

26 Nov 2024 03:12

*Fund Houses Recommendations*


JPMorgan on *Bharti Hexa:* Maintain Overweight on Company, target price at Rs 1630/Sh (Positive)

JPMorgan on *KPIT Tech:* Maintain Overweight on Company, target price at Rs 1900/Sh (Positive)

JPMorgan on *Cyient:* Maintain Overweight on Company, target price at Rs 2250/Sh (Positive)

JPMorgan on *LTTS:* Maintain Overweight on Company, target price at Rs 6300/Sh (Positive)

JPMorgan on *Persistent:* Maintain Overweight on Company, target price at Rs 6100/Sh (Positive)

JPMorgan on *BEL:* Initiate Overweight on Company, target price at Rs 340/Sh (Positive)

JPMorgan on *HAL:* Initiate Overweight on Company, target price at Rs 5135/Sh (Positive)

Jefferies on *Reliance Ind:* Maintain Buy on Company, target price at Rs 1700/Sh (Positive)

UBS on *Swiggy:* Initiate Buy on Company, target price at Rs 515/Sh (Positive)

Citi on *Godrej CP:* Maintain Buy on Company, target price at Rs 1550/Sh (Positive)

Kotak on *Emcure:* Upgrade to Buy on Company, target price at Rs 1680/Sh (Positive)

Jefferies on *Real Estate:* Residential markets have seen a festive up-move with sales in October rising to a 6-month high. (Positive)

JPMorgan on *Tata Elxsi:* Maintain Underweight on Company, target price at Rs 6400/Sh (Neutral)

JPMorgan on *Tata Tech:* Maintain Underweight on Company, target price at Rs 800/Sh (Neutral)

JPMorgan on *Mazdock:* Initiate Neutral on Company, target price at Rs 4248/Sh (Neutral)

Stocks Picker Articles

26 Nov 2024 03:11

*Stocks in News*


*HUL:* Board approves demerger of the ice cream business into an independent listed entity (Positive)

*KEC International:* Company secures new orders worth Rs 1,114 crore across key businesses (Positive)

*Super Spinning Mills:* Long-term bank facilities rating upgraded to CARE BB+; Stable from CARE BB-; Stable by CARE Ratings. (Positive)

*IndiGo:* Company continues to dominate domestic airline market share in October with total of 63.3%. (Positive)

*Gulf Oil:* Company and Piaggio India renewed their exclusive lubricant partnership until 2030 (Positive)

*Ashoka Buildcon:* Company secures Rs 1,391 crore NHAI project for West Bengal economic corridor. (Positive)

*Afcons:* President of Ghana Commissions $447 million railway line built by Company (Positive)

*Positron Energy:* Company signed a 5-year master agreement with HPCL LNG Ltd. for regasification services at Chhara LNG Terminal, Gujarat. (Positive)

*Maruti Suzuki:* Company achieves 30 lakh car export milestone. (Positive)

*Premier Energies:* Company units got multiple orders worth Rs 10.87 Billion for supply of solar PV cells and modules. (Positive)

*Stove Kraft Ltd:* Company commissioned a new automated Cast Iron Foundry at its Harohalli factory on November 25, 2024 (Positive)

*Hitachi Energy/BHEL:* Companies secured a contract from Power Grid for a 6,000 MW HVDC link project. (Positive)

*Best Agrolife:* Company received a 20-year patent from the Indian Patent Office for its 'Stable Synergistic Insecticidal Composition'. (Positive)

*Crompton Greaves:* Company launched LED Tab Light (Positive)

*Power Grid:* Gets Letter of Intent to establish inter-state transmission system in Uttar Pradesh and Rajasthan (Positive)

*Allcargo:* LCL Volume Up 5%, FCL Volume Up 7% MoM & Up 14% YoY (Positive)

*New India Assurance:* Company received a cumulative income tax refund order of INR 1945.1 crore (Positive)

*LT Foods:* Company expands its global footprint to the Kingdom of Saudi Arabia to tap the U.S. $ 2 billion rice and rice-based food market (Positive)

*Vodafone Idea/ Bharti Airtel:* Cabinet approved a proposal to waive the bank guarantees (BG) that telecom operators were required to provide for spectrum purchases up to 2022. (Positive)

*Zen Technologies:* Company gets 20th patent in the year 2024 (Positive)

*Wipro:* Omkar Nisal replaces Pierre Bruno as Wipro's CEO for Europe Strategic Market Unit, effective November 26. (Neutral)

*Genus Power Infrastructures:* Company received CRISIL AA-/Stable rating for ₹3861.6 Cr bank loans and CRISIL A1+ for its Rs 100 Cr commercial paper program (Neutral)

*JBM Auto:* Company proposes sub-dividing its Rs 2 FV equity shares into Rs 1 FV shares. (Neutral)

*Paushak Ltd:* Company announces a planned shutdown of its manufacturing facilities from Nov 26th to Dec 6th, 2024, for annual maintenance. (Neutral)

*Jyoti Structures:* Company to raise up to Rs 500 crore via rights issue. (Neutral)

*Gujarat Investa:* Yashvi Shah resigned as Company's Company Secretary and Compliance Officer on November 25, 2024. (Neutral)

*MedPlus Health:* SBI Mutual Fund decreased its MedPlus Health Services shareholding by 2% (Neutral)

*Spectrum Food:* Company appointed Mr. Nakul Sharma as Company Secretary and Compliance Officer, effective November 25, 2024. (Neutral)

*Jyoti Structures:* Company board approved a rights issue of up to Rs 500 crore. (Neutral)

*Greaves Cotton:* Company appointed Mr. Jaganmohan Rao Medisetti as Head R&D ePowertrain on Nov 25, 2024. (Neutral)

*Vedanta:* Company is going ahead with its second dollar bond offering in two months, testing investor appetite for Indian offshore debt: Bloomberg. (Neutral)

*GPIL:* Company acquired 21.46% equity stake in Jammu Pigments Ltd for Rs 69.54 Cr and subscribed Rs 175 Cr in CCPS, aiming for 51% stake post conversion. (Neutral)

*Axis Bank:* ICICIPru MF acquired 3474965 (0.11% equity) shares on 22nd Nov'24 in the bank (Neutral)

Stocks Picker Articles

25 Nov 2024 04:23

*Corporate Actions*

*Dividend*

*25-Nov-24*
EPL: Interim Dividend - Rs. - 2.50
PFC: Interim Dividend - Rs. - 3.50
BALRAMCHIN: Interim Dividend - Rs. - 3.00
ALTIUSINVIT: Income Distribution (InvIT)

*26-Nov-24*
MORGANITE: Interim Dividend - Rs. - 30.00
POLYPLEX: Interim Dividend - Rs. - 9.00
GPTINFRA: Interim Dividend - Rs. - 1.00
SUNTV: Interim Dividend - Rs. - 5.00
ELPROINTL: Interim Dividend - Rs. - 0.70
KSCL: Interim Dividend - Rs. - 5.00
GILLETTE: Final Dividend - Rs. - 45.00
DOLATALGO: Interim Dividend - Rs. - 0.25
DEVIT: Interim Dividend - Rs. - 0.25
GANECOS: Interim Dividend - Rs. - 1.50

*27-Nov-24*
MULTIBASE: Interim Dividend - Rs. - 53.00
INGERRAND: Interim Dividend - Rs. - 55.00
PADAMCO: Interim Dividend - Rs. - 1.00
PGIL: Interim Dividend - Rs. - 5.00
HAPPSTMNDS: Interim Dividend - Rs. - 2.50
IPCALAB: Interim Dividend - Rs. - 2.00
NATCOPHARM: Interim Dividend - Rs. - 1.50
KHAZANCHI: Interim Dividend - Rs. - 0.50
BHATIA: Interim Dividend - Rs. - 0.01

*IPO*
Enviro Infra Engineers: Open: 22-Nov-24; Close: 26-Nov-24

*Buyback*
---

*Bonus*
Shakti Pumps (India): Bonus Issue 5:1; Ex-Date: 25-Nov-24
Spright Agro: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Raghav Productivity: Bonus Issue 1:1; Ex-Date: 29-Nov-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24

*Right Issue*
NHC Foods: Ex-Date: 26-Nov-24
UPL: Ex-Date: 26-Nov-24
Jonjua Overseas: Ex-Date: 29-Nov-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24

Stocks Picker Articles

25 Nov 2024 03:52

*Stock in Action*

*SJVN:* SJVN is in the business of producing power. In addition, the organization offers consulting services for hydropower projects. One of the most significant events of this quarter is the awarding of the esteemed Navratna designation to SJVN by the Department of Public Enterprises, Government of India. The esteemed award places the organization as India's 25th Navratna. The company recorded a Revenue of Rs. 1026 crore, Net Profit of Rs. 440 crore, EBITDA of Rs. 828 crore, and an EBITDA margin of 81% in Q2FY25. The company has a very strong order book and many project under construction. It just put into service the 90 MW Omkareshwar solar project in Madhya Pradesh, which can produce 196 million units per annum. The most recent addition to its working assets is a 90 MW increase in electricity, which will raise its annual revenue by about Rs. 64 crores. The project's commissioning brings SJVN's installed capacity to 2,466.50 million units. The Rs. 5,792.36 crore investment for the 669 MW Lower Arun hydropower project in Nepal has been approved. The Darzo Lui 2,400 MW Pumped Storage Project was given to SJVN by the Mizoram government in July. That project will be the first pump storage addition to SJVN's portfolio. A Memorandum of Understanding was inked with the Maharashtra government to create a 505 MW floating solar plant and a 100 MW pump storage project. 11 1,958 MW solar projects, 4 1,558 MW hydro projects, 1 1,320 MW thermal project, and 12 2,467 MW projects with 2 transmission lines are now in operation. SJVN has been given three states under the PM Surya Ghar Muft Bijli Yojana, which was started by the Indian government with the goal of giving free electricity to one crore households nationwide. In addition, SJVN has been tasked with installing rooftop solar systems on government buildings; it has been given this task in conjunction with 18 ministries. The Ministry of New and Renewable Energy has designated SJVN as one of the government's implementing agencies for renewable energy in order to reach the 500 GW objective by 2030. *Positive on SJVN given the strong order book and performance of the company.*

*INFO EDGE (INDIA):* With a portfolio of brands, Info Edge is the leading online classified company in India. Among its many brands are those for online recruitment (naukri.com), online real estate (99acres.com), online marriage (jeevansathi.com), and online education information services (shiksha.com). For the quarter ending September 30, 2024, Info Edge (India) Limited's revenue from operations increased by 10.6% to Rs 656.1 crore on a standalone basis, up from Rs 593.0 crore in the same quarter of the previous fiscal year. While non-recruitment firms continued to develop with lower operating losses, the recruiting industry maintained its growth in Q2. The recruitment industry saw an 8.5% YoY increase in revenue, while the non-recruitment company verticals—99acres, Jeevansathi, and Shiksha, saw 16.9%, 33.4%, and 9.7% growth, respectively. It also acts as an investor and has invested in many start-ups in the online space and is actively growing its investment portfolio. The company's standalone billings for the quarter came to Rs 650.3 crore, up 14.3% YoY. In Q2FY25, the company's operating profit margins increased to 38.3% of revenue, and its operating profit, which amounted at Rs 251.2 crore on a standalone basis, increased by 14.8% from Rs 218.9 crore in Q2FY24. For the quarter, the independent company's operating cash flow (before taxes) was Rs 261.7 crore. After a number of poor quarters, the recruitment industry has achieved double-digit billing increase. It is well-positioned for long-term growth because of more cash generation from this segment and lower losses in its non-recruitment operations. Its operating profitability and cash generation have improved as a result of growth in its major business division, recruitment. As of September 30, 2024, its cash balance was Rs. 4,268 crore, demonstrating a sound financial sheet. The business has virtually no debt.

Stocks Picker Articles

25 Nov 2024 03:52

*ICICI Lombard:* Company acquired a 0.19% stake in HDFC Life Insurance (Neutral)

*Vedanta:* NCLT approves meetings of shareholders and creditors (Neutral)

*Alembic Pharma:* US FDA has issued form 483 with 5 observations for Jarod facility (Neutral)

*Adani Group stocks:* Petitioner in Hindenburg Case files fresh plea in SC, urges that ‘malpractices are of serious nature’, ‘should be investigated’ by Indian Agencies. US International Development Finance Corp. is conducting due diligence on a $500M loan for an Adani-backed Sri Lanka port (Neutral)

*Retro Green:* MD, Mr. Arunkumar Prajapati, resigned effective Dec 1, 2024. (Negative)

*ABFRL:* Company received Rs 246.49 Cr GST demand order from Chandigarh authorities. (Negative)