Stocks Picker Articles

02 Jul 2024 04:46

*Fund Houses Recommendations*


Citi on *IGL:* Maintain Buy on Company, raise target price at Rs 610/Sh (Positive)

UBS on *L&T:* Maintain Buy on Company, target price at Rs 4180/Sh (Positive)

Emkay on *EPIGRAL:* Initiate Buy on Company, target price at Rs 2000/Sh (Positive)

DAM on *Anant Raj:* Initiate Buy on Company, target price at Rs 620/Sh (Positive)

GS on *Indigo:* Maintain Buy on Company, target price at Rs 4700/Sh (Positive)

Jefferies on *ICICI Lombard:* Maintain Buy on Company, target price at Rs 2090/Sh (Positive)

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

Citi on *L&T FH:* Maintain Buy on Company, raise target price at Rs 221/Sh (Positive)

MOSL on *IT Stocks:* Expect revenues of IT services companies to recover following a tepid Q4 (Positive)

Citi on *Auto:* Most OEMs reported encouraging volume trends in June, within segments, UVs, tractors & buses witnessed healthy volume growth. *Maruti, M&M and Hero* are top picks (Positive)

Bernstein India Strategy: Four stocks to participate in key themes - *Dixon, Kaynes, Sona BLW precision and Muthoot Finance* (Positive)

Goldman Sachs on QSR: "Broad-based SSSG recovery remains elusive" (Neutral)

Citi on *GUJGAS:* Maintain Sell on Company, raise target price at Rs 500/Sh (Neutral)

CLSA on *Marico:* Maintain Underperform on Company, target price at Rs 460/Sh (Neutral)

UBS on *PVR Inox:* Maintain Buy on Company, cut target price at Rs 1800/Sh (Neutral)

Stocks Picker Articles

02 Jul 2024 04:45

*Stocks in News*



*DCX Systems:* Company gets order worth Rs 1,250 crore for electric modules from L&T. (Positive)

*IOL Chemicals:* Company gets China’s Drug Regulatory Authority NMPA nod for ‘Fenofibrate’, allowing the company to export it into China market. (Positive)

*Gandhar Oil:* Company wins order worth 375 cr rupees or 45m USD (Positive)

*JSW Energy:* Company’s subsidiary enters into power purchase agreement with SJVN for 700-megawatt solar project. (Positive)

*CAMS:* Company collaborates with Google Cloud to Build Cloud Native Platform to transform its asset management business services (Positive)

*BLS International:* Company's unit gets Turkish Regulatory Authority's nod for acquisition of iData. (Positive)

*Coal India:* Company’s coal production rose 8% to 189.3 million tons in Q1FY2025. (Positive)

*Sakuma Exports:* Company approved issue of bonus shares in 4:1 ratio, company also approved raising of funds by QIP for an amount up to 500 cr rupees. (Positive)

*Genus Power:* Company’s unit entered into agreement to buy 30% stake in Maharashtra Akola Amravati smart metering. (Positive)

*Pennar Industries:* Company to set up PEB manufacturing plant in Raebareli in Q2. (Positive)

*Waaree Energies:* Company Bags Order To Supply 900 MW Solar Modules. (Positive)

*Deepak Fertilizers:* Company gets NCLT nod for scheme of arrangement between Mahahdhan Agri Tech, Deepak Mining Solutions and Mahadhan Farm Technologies (Positive)

*Shera Energy:* Company has surpassed sales of Rs. 110.37 crores on a consolidated monthly basis (Positive)

*APL Apollo:* Company achieves Highest Record Sales Volume In Q1 Of 7,21,064 Tons Vs 6,61,501 Tons YoY (Positive)

*KPI Green Energy:* Company received of CEIG (Charging) approvals for 13.60 MW Solar Power Projects under IPP Segment. (Positive)

*South Indian Bank:* Gross advances up 11.4% at Rs 82,510 crore year-on-year in Q1FY25. (Positive)

*CSB Bank:* Gross advances up 17.8% at Rs 25,099 crore year-on-year in Q1FY25. (Positive)

*Hero Motocorp:* Total Sales at 5.03 Lk Units Vs Estimate Of 4.87 Lk Units (Positive)

*Welspun Specialty Solutions:* Company gets contract worth ₹117.17 Cr for supply of seamless stainless steel boiler tubes (Positive)

*Nazara Tech:* TIMF Holdings bought 12 lakh shares in Company at Rs 872 per share. (Positive)

*Narayana Hrudayalaya:* Narayana Health introduced its first health insurance product, ‘Aditi’ on July 1. (Positive)

*Oil upstream stocks:* Indian govt doubles windfall tax on crude oil to ₹6,000 per tonne from ₹3,250, effective July 2 (Neutral)

*Tata Steel:* Bhubaneshwar Power stands dissolved without being wound up (Neutral)

*Carysil:* Company opens QIP, sets floor price at ₹837.89/sh (Neutral)

*Patanjali Foods:* Company to acquire entire non-food business undertaking from Patanjali Ayurved For ₹1,100 cr (Neutral)

*TVS Motors:* Total Auto Sales at 3.34 lk units vs estimates of 3.53 lk Units. (Positive)

*NMDC:* Company cuts iron ore lump prices by ₹500 to ₹5,950/tonne from ₹6,450/tonne. (Neutral)

*Tata Motors:* June Total Sales 71,147 Units Vs 80,300 Units YoY (Neutral)

*ICICI Bank:* Mr. Pradeep Kumar Sinha is the Non-Executive Part-time Chairman of the Bank as Mr. Girish Chandra Chaturvedi to retire from 30th June. (Neutral)

*Zomato:* Company faces Rs 9.45 crore GST demand from Karnataka tax authorities. (Neutral)

*Ircon International:* Hari Mohan Gupta assumes charge as CMD of the Company effective from 1st- July- 2024. (Neutral)

*Neuland Lab:* Company has transferred a part of property situated at Hyderabad by way of perpetual lease, for a consideration of Rs. 31.50 cr. (Neutral)

*NBCC (India):* Company Says B K Sokhey Ceased To Be CFO. (Neutral)

*JK Cement:* Sumnesh Khandelwal resigns as deputy CFO of Company, effective July 1 (Neutral)

*Zomato:* Company gets GST demand of Rs 9.5 crore. (Neutral)

Stocks Picker Articles

01 Jul 2024 05:27

Forthcoming Event

01st July: Sakuma Exports to consider Bonus issue & Fund Raising; Tara Chand InfraLogistic Solutions to consider Stock Split; Sprayking to consider Bonus issue; DMR Hydroengineering to consider Fund Raising

02nd July: Central Depository Services (India) to consider Bonus issue; Fedders Electric and Engineering to consider Fund Raising

03rd July: VMS to consider Dividend; Caspian Corporate Services to consider Bonus issue; Apex Capital and Finance, Dhruv Consultancy Services, Sundaram Clayton, Tinna Trade to consider Fund Raising; Aditya Vision to consider Stock Split

05th July: Bank of Baroda, Naksh Precious Metals to consider Fund Raising

06th July: ABIRAFN to consider Dividend; Datasoft Application, Macro International to consider Fund Raising

08th July: NESTLEIND to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue; PVV Infra to consider Bonus issue & Stock Split

11th July: TCS to consider Dividend; Real Eco-Energy to consider Stock Split

12th July: HCLTECH to consider Dividend

15th July: HDFC Life Insurance Company to consider Fund Raising

Stocks Picker Articles

01 Jul 2024 04:39

Stock in Action

PI Industries ltd.: PI Industries announced that it will acquire a UK-based company, Plant Health Care Plc (PHC), along with its subsidiaries in the US, Brazil, Mexico and other countries. The acquisition will be done through PI’s wholly owned international subsidiary for a total consideration of ~£32.8 million (Rs 344 crore) and is expected to be completed by Q2FY25. PHC is a leading provider of novel patent-protected biological products and is a pioneer in protein/ peptide technology in the agriculture biological space. It has a strong R&D expertise and good product acceptance in key global markets. To improve crop yields and promote sustainable farming, biologicals have been gaining a lot of traction, of late, especially in the developed markets of the US and Europe. PI already has a portfolio of eight products, with many more in different stages of development and registration. PI’s revenue from biological products increased by ~29 percent in FY24. With this acquisition, PI will gain access to cutting-edge biological/peptide technology platforms. Positive on PI Industries as the acquisition of UK-based Plant Health Care will be value-accretive for the company.

NTPC Ltd.: NTPC Ltd., one of India’s leading power-generating companies, experienced a healthy Q4FY24 performance. Revenue from operations on a consolidated basis rose 7.6% YoY to Rs. 47622.06 crore, driven by higher demand for power generation. PAT of Rs. 6490.05 crore exhibited strong growth of 33.2%. To capitalize on India’s strong demand for power, the company is undertaking measures to enhance its capacity. In FY24, it added 3924 MW of commercial capacity to its portfolio. As of 31 March 2024, the commercial capacity stood at 75958 MW for the group as a whole. Moreover, there has been an increase of ~48% in the NTPC’s captive coal production from 23.20 MMT in FY23 to 34.39 MMT in FY24. In FY24, the company incurred a group capex of Rs 34,943 crore compared with Rs 35,204 crore in the previous year. Its capital outlay for FY25, on a standalone basis, is estimated at ₹22,700 crore. Further, with the Govt. of India’s push towards renewable energy, NTPC is likely to be a key beneficiary of the upbeat trend. At present, it has successfully commissioned 3.6 GW of renewable energy projects while an additional 8.4 GW of renewable energy projects are in various stages of construction. It also has 11.2 GW of renewable energy projects under tendering process, 6.6 GW equivalent land with connectivity tenders are under process and a substantial 4.8 GW equivalent land bank at its disposal. Such measures place NTPC well to emerge as a key player in the renewable energy segment. Positive on NTPC Ltd. given its healthy quarterly performance, focus on capacity expansion to tap the growing demand for power and ample scope for growth in the renewable energy segment.

Stocks Picker Articles

01 Jul 2024 04:32

*Stocks in News*


*BEL:* Company gets contract worth Rs 3,172 crore from Armoured Vehicles Nigam. (Positive)

*Cochin Shipyard:* Company Subsidiary Wins Order Worth 1100 Cr Rupees. (Positive)

*Orchid Pharma:* Company partners with Cipla to launch antibiotic Cefepime- Enmetazobactam in India (Positive)

*JSW Energy:* Company arm JSW Neo Energy gets LoA for 300 mw wind-solar hybrid capacity from SJVN (Positive)

*Titan:* Company forms 76-24 JV with Rhythm Jewellery in Bangladesh for manufacturing jeweler products (Positive)

*Zydus Lifesciences:* Company in pact with Dr Reddy’s Lab for co-marketing of Pertuzumab biosimilar. (Positive)

*GAIL:* Company advances its net zero target for scope-1 and scope-2 ghg emissions to 2035. (Positive)

*Real Estate Stocks:* Mumbai's property market hits new highs with record June sales. Over 11,500 property registrations, a 12% year-on-year increase. (Positive)

*Jinal Stainless:* Company acquisition of Singapore-based Sulawesi Nickel Processing will help establish JV in Indonesia. (Positive)

*GE Power India:* Company has received purchase orders from NTPC Limited and Maharashtra State Power Generation Company Limited, aggregating Rs 13 cr. (Positive)

*IREDA:* Loan Disbursements up 67.6% at Rs 5,320 cr vs Rs 3,174 cr (YoY) (Positive)

*Signature Global:* Company bags sales worth Rs 2,700 cr for residential project Titanium SPR in Gurugram (Positive)

*Vedanta:* Vedanta Resources will regain control of Zambia's Konkola Copper Project after a Lusaka Court in Zambia Approved a Debt Settlement Plan (Positive)

*NHPC:* Company has inked a Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited for a 200 MW Solar Power Project at Khavda (Positive)

*eMudhra:* Company is set to acquire 100% ownership of TWO95 International Inc, USA for US $10.1 million. (Positive)

*Surya Rosni:* Company secures ₹53 crore order from Odisha Urban Infrastructure Development Fund. (Positive)

*Central Bank of India:* Bank signs a strategic co-lending partnership with Grihum Housing Finance to offer MSME loans at competitive rates (Positive)

*SBI:* Company Govt panel recommends Challa Sreenivasulu Setty as the next SBI Chairman (Positive)

*Coromandel:* Company introduces 'Paramfos Plus', a magnesium-fortified complex grade fertilizer (Positive)

*KIOCL:* Company has received approval from the Finance Minister and Steel Minister for Phase-I of the Devadari Iron Ore Mine Project in Karnataka (Positive)

*REC:* Company approves incorporation of 2 project-specific SPVs as wholly owned subsidiaries of arm. (Positive)

*Imagicaa:* Company has acquired water parks, theme park, and amusement park from Giriraj Enterprises in Maharashtra. (Positive)

*India Glycol:* Company says second phase of expansion of Bio-Fuel Ethanol plant at Kashipur in progress (Positive)

*Ultratech:* Company says commissioning of an additional 3.35 Mtpa Clinker along with 1.8 Mtpa grinding capacity (Positive)

*HEG:* Company has achieved a 15% increase in sales compared to last quarter. (Positive)

*PEL:* Unit approves establishment of of EMTN Programme in compliance with U.S. Securities Act. (Positive)

*Rajoo Engineering:* Company recommended issuance of Bonus shares to the fully paid equity shares in the proportion of 1:1. (Positive)

*Godrej Properties:* Company acquires leasehold rights for 11 acres in Hinjewadi, Pune with revenue potential of Rs 1,800 crore (Positive)

*Gulshan Polyols:* Company has been allocated a Quantity Of 2713 Kiloliters of Ethanol Having an Estimated Order Value of 19 Cr Rupees (Positive)

*Shri Bajrang Alliance:* Company Capital Expansion of Ethanol Plant by 120 KLPD. (Positive)

*HG Infra:* Company incorporates arms HG Kushlawa Solar, HG Moolraj Solar & HG Paleena Solar (Positive)

*LAURUS LAB:* Company has received the EIR, indicating closure of the inspection at company API manufacturing facilities at Andhra Pradesh (Positive)

Stocks Picker Articles

28 Jun 2024 05:32

Forthcoming Event

28th June: Ratnaveer Precision Engineering, Nandani Creation, Shrem Invit to consider Fund Raising; Krishna Institute of Medical Sciences to consider Stock Split; Rajoo Engineers to consider Bonus issue

29th June: Poly Medicure, NTPC, Navin Fluorine International to consider Fund Raising; GRP Limited to consider Bonus issue

01st July: Sakuma Exports to consider Bonus issue & Fund Raising; Tara Chand InfraLogistic Solutions to consider Stock Split;

02nd July: Central Depository Services (India) to consider Bonus issue; Fedders Electric and Engineering to consider Fund Raising

08th July: NESTLEIND to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue

11th July: Real Eco-Energy to consider Stock Split

Stocks Picker Articles

28 Jun 2024 04:41

*Fund Houses Recommendations*


Jefferies on *Bharti Airtel:* Maintain Buy on Company, raise target price at Rs 1720/Sh (Positive)

Emkay on *JK tyre:* Maintain Buy on Company, raise target price at Rs 700/Sh (Positive)

MOSL on *Godrej Prop:* Maintain Buy on Company, target price at Rs 3600/Sh (Positive)

Emkay on *Star Health:* Upgrade to Buy on Company, raise target price at Rs 650/Sh (Positive)

Citi on *Nuvama wealth:* Maintain Buy on Company, target price at Rs 6000/Sh (Positive)

Emkay on *Man Ind:* Initiate Buy on Company, target price at Rs 500/Sh (Positive)

Jefferies on *SRF:* Maintain Underperform on Company, raise target price at Rs 2125/Sh (Positive)

MS expects telecom sector companies like *Bharti Airtel* and others to announce price hike for 4G subscribers soon (Positive)

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

Incred on *Tata Tech:* Initiate Reduce on Company, target price at Rs 797/Sh (Neutral)

Incred on *Tata Elxsi:* Initiate Reduce on Company, target price at Rs 6064/Sh (Neutral)

UBS on *Bandhan Bank:* Initiate Neutral on Company, target price at Rs 230/Sh (Neutral)

Emkay on *Ultratech:* Maintain Buy on Company, target price at Rs 11200/Sh (Neutral)

Citi on *Ultratech:* Maintain Buy on Company, target price at Rs 11139/Sh (Neutral)

Citi on *Ambuja:* Maintain Neutral on Company, target price at Rs 675/Sh (Neutral)

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

JPMorgan on Tariff Hike: 20% tariff hike by Jio is a tad lower than our expectations of 25% (Neutral)

UBS on Tariff Hike: Price increases are in-line to slightly above consensus, but this also means a key catalyst has played out (Neutral)

Stocks Picker Articles

27 Jun 2024 05:29

Forthcoming Event

27th June: AU Small Finance Bank, City Crops Agro, Transwarranty Finance, Satin Creditcare Network, RBL Bank, to consider Fund Raising; Coastal Roadways to consider Voluntary Delisting

28th June: Ratnaveer Precision Engineering, Nandani Creation, Shrem Invit to consider Fund Raising; Krishna Institute of Medical Sciences to consider Stock Split; Rajoo Engineers to consider Bonus issue

29th June: Poly Medicure, NTPC, Navin Fluorine International to consider Fund Raising; GRP Limited to consider Bonus issue

01st July: Sakuma Exports to consider Bonus issue; Tara Chand InfraLogistic Solutions to consider Stock Split; Sakuma Exports to consider Fund Raising

08th July: NESTLEIND to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue

11th July: Real Eco-Energy to consider Stock Split

Stocks Picker Articles

27 Jun 2024 05:01

Bulk Deal & Insider Trade Update

Bulk Deals
*Hindustan Foods Limited : Icici Prudential Life Insurance Co.Ltd. Buy 5677290 Shares @ Rs. 502
*Hindustan Foods Limited : Infinity Consumer Holdings Sell 3100000 Shares @ Rs. 502
*Hindustan Foods Limited : Westbridge Aif I Sell 2398747 Shares @ Rs. 502
*Paisalo Digital Limited : Ebisu Global Opportunities Fund Limited Buy 14800000 Shares @ Rs. 75.47
*Paisalo Digital Limited : Nomura Singapore Limited Sell 14800000 Shares @ Rs. 75.47
*Sharda Motor Inds Ltd : Icici Prudential Mutual Fund Buy 513488 Shares @ Rs. 1996.1
*Affle (India) Limited : Icici Prudential Mutual Fund Buy 775194 Shares @ Rs. 1290
*Sharda Motor Inds Ltd : Nippon India Mutual Fund Buy 413295 Shares @ Rs. 1996.1
*Sharda Motor Inds Ltd : Hdfc Mutual Fund - Hdfc Manufacturing Fund Buy 311205 Shares @ Rs. 1996.1
*Hindustan Foods Limited : Morgan Stanley Asia Singapore Pte Buy 1070000 Shares @ Rs. 502
*Sharda Motor Inds Ltd : Axis Small Cap Fund Buy 258310 Shares @ Rs. 1996.1
*Hindustan Foods Limited : Samsung India 2.0 Equity Master Investment Trust Buy 830000 Shares @ Rs. 502
*Sharda Motor Inds Ltd : Hsbc Mutual Fund Buy 185356 Shares @ Rs. 1996.1
*Hindustan Foods Limited : Sixth Sense India Opportunities 11 Sell 700000 Shares @ Rs. 502
*Sharda Motor Inds Ltd : Axis India Manufacturing Fund Buy 154985 Shares @ Rs. 1996.1
*Rossell India Limited : Ebisu Global Opportunities Fund Limited Buy 555803 Shares @ Rs. 553.54
*Rossell India Limited : Nomura Singapore Limited Sell 555803 Shares @ Rs. 553.5
*Salasar Techno Engg. Ltd. : Ebisu Global Opportunities Fund Limited Buy 13880000 Shares @ Rs. 19.27
*Salasar Techno Engg. Ltd. : Nomura Singapore Limited Sell 13880000 Shares @ Rs. 19.27
*Ufo Moviez India Ltd. : Ebisu Global Opportunities Fund Limited Buy 257261 Shares @ Rs. 137.8
*Ufo Moviez India Ltd. : Nomura Singapore Limited Sell 257261 Shares @ Rs. 137.8
*Deep Ene Resources Ltd : Ebisu Global Opportunities Fund Limited Buy 206553 Shares @ Rs. 170.75
*Deep Ene Resources Ltd : Nomura Singapore Limited Sell 206553 Shares @ Rs. 170.75
*Gss Infotech Limited : Ebisu Global Opportunities Fund Limited Buy 160000 Shares @ Rs. 92.75
*Tree House Edu Ltd : Ebisu Global Opportunities Fund Limited Buy 340000 Shares @ Rs. 26.26
*Titagarh : Blackrock Global Emerging Markets Fund Inc Buy 946357 Shares @ Rs. 1618
*Neulandlab : Malabar India Fund Limited Sell 130000 Shares @ Rs. 7400
*Neulandlab : Smallcap World Fund Inc Buy 130000 Shares @ Rs. 7400
*Inoxgreen : Dovetail India Fund Sell 3100000 Shares @ Rs. 166.56
*Inoxgreen : Societe Generale Buy 2949716 Shares @ Rs. 166.5
*Sera : Zeal Global Opportunities Fund Buy 1936816 Shares @ Rs. 17.52
*Cotfab : Nav Capital Vcc - Nav Capital Emerging Star Fund Buy 400000 Shares @ Rs. 73
*Cotfab : Vpk Global Ventures Fund - Scheme 1 Buy 98000 Shares @ Rs. 72

Insider Trade
*Acquisition*
* Promoter Acquisition 159097 shares of Apar Industries Ltd.
* Aditya Arora Promoter Group Acquisition 1335 shares of Lt Foods Ltd. on 26-Jun-24
* DIPAK N PATEL Promoter & Director Acquisition 25 shares of Crestchem Ltd. on 24-Jun-24

*Disposal*
* Charat Aggarwal Promoter Group Disposal 3000 shares of Asahi India Glass Ltd. on 22-May-24
* Promoter Group Disposal 17550 shares of Gujarat Apollo Industries Ltd.
* Promoter Disposal 159097 shares of Apar Industries Ltd.
* Anil Singhvi Director Disposal 200000 shares of Idfc Limited on 25-Jun-24
* K Narsimha Reddy Promoter & Director Disposal 435074 shares of Knr Constructions Ltd.
* Affle Holdings Pte. Ltd. Promoter Disposal 2500000 shares of Affle (India) Ltd on 26-Jun-24

*Revoke*
* Anmol Singh Jaggi Promoter & Director Revoke 600000 shares of Gensol Engineering Ltd on 25-Jun-24

Dividend Update
*Supreme Petrochem Ltd. Final Dividend Rs. 7 Ex Date 27-Jun-2024
*Titan Company Ltd. Dividend Rs. 11 Ex Date 27-Jun-2024

Stocks Picker Articles

27 Jun 2024 04:54

*Fund Houses Recommendations*


CLSA Laurence (technical analyst) on *HDFC Bank:* Maintain Buy on Bank, target price at Rs 2373/Sh (Positive)

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

Equirus on *PI Ind:* Maintain Buy on Company, target price at Rs 5500/Sh (Positive)

Jefferies on *Polycab:* Maintain Buy on Company, target price at Rs 8420/Sh (Positive)

MS on *Go Digit:* Initiate Equal weight on Company, target price at Rs 338/Sh (Positive)

Citi on *PB Fintech:* Maintain Buy on Company, target price at Rs 1600/Sh (Positive)

Equirus on *Nykaa:* Maintain Buy on Company, target price at Rs 240/Sh (Positive)

GS on *Shree Cement:* Upgrade to Neutral on Company, raise target price at Rs 28500/Sh (Positive)

GS on *Ultratech:* Maintain Buy on Company, raise target price at Rs 11650/Sh (Positive)

GS on *Ambuja Cement:* Maintain Neutral on Company, raise target price at Rs 695/Sh (Positive)

UBS on Banks: Seasonally weak quarter; however YoY momentum intact. *HDFC Bank* could witness expansion (Positive)

BofA on IT: Q1 preview- Fewer instances of cuts to IT spends; *Infosys* could lead peers (Positive)

GS on Financials: Prefer *CreditAccess, L&T FH and Shriram Fin* (Positive)

BofA on *Dr Reddy’s:* Maintain Buy on Company, target price at Rs 6900/Sh (Positive)

Nomura on *Dr Reddy’s:* Maintain Neutral on Company, target price at Rs 6499/Sh (Neutral)

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

Jefferies on *Bharti Hexa:* Downgrade to Hold on Company, target price at Rs 1290/Sh (Neutral)

GS on *ACC:* Downgrade to Sell on Company, raise target price at Rs 2500/Sh (Neutral)

GS on *Dalmia Bharat:* Maintain Neutral on Company, cut target price at Rs 1900/Sh (Neutral)

Stocks Picker Articles

26 Jun 2024 05:34

Forthcoming Event

26th June: HAL to consider Dividend; One Point One Solutions, Inox Green Energy Services, Vertoz Advertising, Zee Media Corporation, One Point One Solutions to consider Fund Raising

27th June: AU Small Finance Bank, City Crops Agro, Transwarranty Finance, Satin Creditcare Network, RBL Bank, to consider Fund Raising; Coastal Roadways to consider Voluntary Delisting

28th June: Ratnaveer Precision Engineering, Nandani Creation, Shrem Invit to consider Fund Raising; Krishna Institute of Medical Sciences to consider Stock Split; Rajoo Engineers to consider Bonus issue

29th June: Poly Medicure, NTPC to consider Fund Raising

01st July: Sakuma Exports to consider Bonus issue

08th July: NESTLEIND to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue

01st July: Tara Chand InfraLogistic Solutions to consider Stock Split

11th July: Real Eco-Energy to consider Stock Split

Stocks Picker Articles

26 Jun 2024 04:50

Bulk Deal & Insider Trade Update

Bulk Deals
*Jupiter Wagons Limited : Copthall Mauritius Investment Ltd Buy 3279827 Shares @ Rs. 652
*Dodla Dairy Limited : Pinebridge Inv Asia Limited A/C Pb Global Funds-Pinebridge India Eq Fund Buy 825000 Shares @ Rs. 1000
*Dcb Bank Limited : India First Life Insurance Company Limited Buy 2023000 Shares @ Rs. 140.15
*Dcb Bank Limited : Dsp Mutual Fund Sell 1700000 Shares @ Rs. 140.15
*Rba : Goldman Sachs Funds - Goldman Sachs India Equity Portfolio Sell 4797361 Shares @ Rs. 104.05
*Mlkfood : Natwest Bank Plc As Trustee Of The Jupite Sell 46003 Shares @ Rs. 739.71
*Cotfab : Galaxy Noble Global Opportunities Fund Pcc - Gngof 1 Sell 208000 Shares @ Rs. 78.64
*Cotfab : Nav Capital Vcc - Nav Capital Emerging Star Fund Buy 218000 Shares @ Rs. 74.82
*Oneglobal : Eminence Global Fund Pcc- Eubilia Capital Partners Fund I Buy 66314 Shares @ Rs. 135.08

Insider Trade
*Acquisition*
* Anvivud Innovations LLP Promoter & Director Acquisition 1400452 shares of Zee Media Corporation Limited on 21-Jun-24
* Prem Kumar Bhajanka Promoter & Director Acquisition 60000 shares of Star Cement Ltd on 18-Jun-24
* STANDARD GREASES & SPECIALITIES PRIVATE LIMITED Promoter Acquisition 247372 shares of Tide Water Oil (India) Ltd.

*Disposal*
* SIVARAMAKRISHNA PRASAD POTLURI Director Disposal 5000 shares of Natco Pharma Ltd. on 24-Jun-24
* Rajat Agrawal Promoter & Director Disposal 1400000 shares of Gravita India Ltd. on 21-Jun-24
* Krishak Bharati Cooperative Limited KRIBHCO Promoter Disposal 50000 shares of Nagarjuna Fertilizers And Chemicals Ltd on 21-Jun-24
* Rohiqa Cyrus Mistry Promoter Group Disposal 32938 shares of Sterling And Wilson Renewable Energy Ltd on 20-Jun-24

Dividend Update
*Aegis Logistics Ltd. Final Dividend Rs. 2 Ex Date 26-Jun-2024
*Welspun India Ltd. Final Dividend Rs. 0.1 Ex Date 26-Jun-2024

Stocks Picker Articles

26 Jun 2024 04:49

*Fund Houses Recommendations*


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

UBS on *CG Power:* Maintain Buy on Company, raise target price at Rs 870/Sh (Positive)

JP Morgan on *Tata Motors:* Maintain Overweight on Company, target price at Rs 1100/Sh (Positive)

CLSA on *Manappuram:* Maintain Buy on Company, raise target price at Rs 240/Sh (Positive)

Investec on *Stylam:* Initiate Buy on Company, target price at Rs 2362/Sh (Positive)

JPMorgan on Credit Card data: May 2024 saw 760k net issuance of credit cards leaded by *HDFC Bank*. *SBI Cards* saw higher spending by 0.27 bps (Positive)

CLSA on Electronics: Vande Bharat and Kavach are the two key drivers. *Amber, Kaynes and Syrma SGS* top picks (Positive)

GS on Financials: Prefer *CreditAccess, L&T FH and Shriram Fin* (Positive)

Investec on *Adani Wilmar:* Initiate Hold on Company, target price at Rs 374/Sh (Neutral)

Citi on *NMDC:* Maintain Sell on Company, target price at Rs 215/Sh (Neutral)

Citi on *M&M Fin:* Maintain Equal weight on Company, target price at Rs 280/Sh (Neutral)

CLSA on *Dalmia Bharat:* Downgrade to Underperfrom on Company, cut target price to Rs 1990/Sh (Negative)

Stocks Picker Articles

25 Jun 2024 05:15

Corporate Actions

eClerx Services fix record date as 4th July 2024 for buyback of Share.

Dividend

25-Jun-24
FILTRA: Final Dividend - Rs. - 3.00
TATAELXSI: Final Dividend - Rs. - 70.00
CERA: Final Dividend - Rs. - 60.00
ALKYLAMINE: Final Dividend - Rs. - 10.00
VOLTAS: Dividend - Rs. - 5.50
BPLPHARMA: Final Dividend - Rs. - 1.00

26-Jun-24
AEGISLOG: Final Dividend - Rs. - 2.00
WELSPUNLIV: Final Dividend - Rs. - 0.10

27-Jun-24
SPLPETRO: Final Dividend - Rs. - 7.00
TITAN: Dividend - Rs. - 11.00

28-Jun-24
SWARAJENG: Final Dividend - Rs. - 95.00
MAWANASUG: Final Dividend - Rs. - 4.00
BANKBARODA: Dividend - Rs. - 7.60
GICHSGFIN: Final Dividend - Rs. - 4.50
NAM-INDIA: Final Dividend - Rs. - 11.00
ANDHRAPET: Dividend - Rs. - 2.00
DBOL: Final Dividend - Rs. - 2.50
INDUSINDBK: Final Dividend - Rs. - 16.50
RPGLIFE: Final Dividend - Rs. - 16.00
RECLTD: Final Dividend - Rs. - 5.00
WELCORP: Final Dividend - Rs. - 5.00
MAHSCOOTER: Final Dividend - Rs. - 60.00
KPIL: Final Dividend - Rs. - 8.00
VAIBHAVGBL: Final Dividend - Rs. - 1.50
BAJAJHLDNG: Final Dividend - Rs. - 21.00
SYNGENE: Final Dividend - Rs. - 1.25
AEROFLEX: Final Dividend - Rs. - 0.25
KSOLVES: Interim Dividend

01-Jul-24
GHCL: Final Dividend - Rs. - 12.00
GEOJITFSL: Final Dividend - Rs. - 1.50
TATACOMM: Final Dividend - Rs. - 16.70
GHCLTEXTIL: Final Dividend - Rs. - 0.50
LLOYDSENT: Final Dividend - Rs. - 0.10

IPO
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
Godawari Power and Ispat: Ex-Date: 28-Jun-24
Bajaj Consumer Care: Ex-Date: 02-Jul-24

Bonus
Ashirwad Capital: Bonus Issue 1:2; Ex-Date: 25-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
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Avonmore Capital: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 28-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
SEPC: Ex-Date: 25-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

25 Jun 2024 04:53

Bulk Deal & Insider Trade Update

Bulk Deals
*Cartrade Tech Limited : The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund Buy 489617 Shares @ Rs. 829.06
*Cartrade Tech Limited : Cmdb Ii Sell 360411 Shares @ Rs. 830.27
*Rulka Electricals Limited : Galaxy Noble Global Opportunities Fund Pcc - Gngof 1 Sell 21600 Shares @ Rs. 438.38
*Cartrade : Verition Multi-Strategy Master Fund Ltd. Buy 504746 Shares @ Rs. 828
*Cartrade : Bajaj Allianz Life Insurance Company Limited Buy 483092 Shares @ Rs. 828
*Cartrade : Hsbc Global Investment Funds Asia Ex Japan Equity Smaller Companies Buy 434510 Shares @ Rs. 828
*Cartrade : Clsa Global Markets Pte Ltd - Odi Buy 246848 Shares @ Rs. 828
*Mlkfood : The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund Sell 39729 Shares @ Rs. 804.15
*Cotfab : Galaxy Noble Global Opportunities Fund Pcc - Gngof 1 Buy 266000 Shares @ Rs. 75

Insider Trade
*Acquisition*
* Susram Financial Services & Realty Pvt Ltd. Promoter Acquisition 81000 shares of Ganesh Benzoplast Ltd. on 21-Jun-24
* Bh.Subba Raju Promoter Group Acquisition 3874 shares of Ncl Industries Ltd.-$ on 21-Jun-24
* EKTA JALAN Promoter Group Acquisition 5000 shares of Linc Ltd-$ on 21-Jun-24
* LEBNITZE REAL ESTATES PVT LTD Promoter Group Acquisition 965 shares of Stel Holdings Ltd on 21-Jun-24

*Disposal*
* Tarang Advisory Private Limited Promoter Group Disposal 79500 shares of Ganesh Benzoplast Ltd. on 21-Jun-24
* NCL HoldingsA&S Ltd Promoter Group Disposal 3874 shares of Ncl Industries Ltd.-$ on 21-Jun-24
* SURAJ MAL JALAN Promoter Group Disposal 5000 shares of Linc Ltd-$ on 21-Jun-24
* Promoter Disposal 28988 shares of Advanced Enzyme Technologies Ltd
* Promoter Group Disposal 205304 shares of Star Cement Ltd

*Pledge*
* Pranav Ansal Promoter & Director Pledge 7953772 shares of Ansal Properties & Infrastructure Ltd.
* ANUPAMA KAILASH KATKAR Promoter Pledge 5817570 shares of Quick Heal Technologies Ltd

*Revoke*
* Pranav Ansal Promoter & Director Revoke 7953772 shares of Ansal Properties & Infrastructure Ltd.
* ANUPAMA KAILASH KATKAR Promoter Revoke 5817570 shares of Quick Heal Technologies Ltd

Dividend Update
*Alkyl Amines Chemicals Ltd. Final Dividend Rs. 10 Ex Date 25-Jun-2024
*Bharat Parenterals Ltd. Final Dividend Rs. 1 Ex Date 25-Jun-2024
*Cera Sanitaryware Ltd. Final Dividend Rs. 60 Ex Date 25-Jun-2024
*Filtra Consultants and Engineers Ltd. Final Dividend Rs. 3 Ex Date 25-Jun-2024
*Tata Elxsi Ltd. Final Dividend Rs. 70 Ex Date 25-Jun-2024
*Voltas Ltd. Dividend Rs. 5.5 Ex Date 25-Jun-2024

Stocks Picker Articles

02 Jul 2024 04:46

*Zydus Life:* Company’s unit income tax demand of Rs 285 crore rectified to Rs 1.1 lakh by Central Processing Centre. (Neutral)

*Lupin:* Company Completes Transfer of Trade Generics Business to Unit Lupin Life Sciences. (Neutral)

*Laxmi Organics:* Tanushree Bagrodia resigns as CFO effective September 2. (Neutral)

*Indian Bank:* Revises 1-yr MCLR rate to 8.95% from 8.9%, effective July 3 (Neutral)

*CDSL:* Board meeting today to consider Bonus issue of shares. (Neutral)

*Bajaj Consumer:* Ex date for Buyback of shares, buyback price Rs 290/Sh. (Neutral)

*Oil India:* Ex date for Bonus issue of shares 1:2. (Neutral)

*ISMT:* Company completes installation of 35 MW DC capacity solar plant worth Rs 138 crore at Maharashtra. (Neutral)

*JTL Industries:* Company' sales volume up 10.8% at 85,674 MT in Q1FY25. (Neutral)

*Eicher Motors:* Total motorcycle sales down 5% at 73,141 units year-on-year in June. (Neutral)

*ITC:* ITC Hotels announced its foray into West Bengal with the opening of Storii Devasom Resort & Spa, Kolkata. (Neutral)

Stocks Picker Articles

01 Jul 2024 05:28

*Fund Houses Recommendations*


Jefferies on *Grasim:* Maintain Buy on Company, raise target price at Rs 3000/Sh (Positive)

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

HSBC on *Dixon Tech:* Maintain Buy on Company, raise target price at Rs 12800/Sh (Positive)

Emkay on *L&T:* Initiate Buy on Company, target price at Rs 3600/Sh (Positive)

Emkay on *Kalpataru:* Initiate Buy on Company, target price at Rs 1400/Sh (Positive)

Emkay on *KEC Ind:* Initiate Add on Company, target price at Rs 950/Sh (Positive)

Kotak on *JB Pharma:* Maintain Buy on Company, target price at Rs 2025/Sh (Positive)

JP Morgan on *ICICI Pru:* Maintain Overweight on Company, target price at Rs 800/Sh (Positive)

JP Morgan on *SBI Life:* Maintain Overweight on Company, target price at Rs 1810/Sh (Positive)

JP Morgan on *NIACL:* Maintain Overweight on Company, target price at Rs 294/Sh (Positive)

Nuvama on *Amara Raja:* Maintain Buy on Company, target price at Rs 2000/Sh (Positive)

UBS on *L&T FH:* Initiate Buy on Company, target price at Rs 210/Sh (Positive)

Jefferies on *Bharti Airtel:* Maintain Buy on Company, raise target price at Rs 1740/Sh (Positive)

Citi on *Bharti Airtel:* Maintain Buy on Company, raise target price at Rs 1750/Sh (Positive)

BofA on Banks: Big private banks to sustain outperformance on better earnings momentum, positioning. *ICICI/Axis/Kotak* increasing confidence, EPS upgrades likely for *PSU Banks* (Positive)

Kotak on *Indigo:* Maintain Buy on Company, target price at Rs 5700/Sh (Positive)

HSBC on *Vodafone Idea:* Maintain Underperform on Company, raise target price at Rs 7/Sh (Neutral)

Jefferies on *Bharti Hexa:* Maintain Hold on Company, cut target price at Rs 1230/Sh (Neutral)

Macquarie on *United Spirits:* Maintain Underperform on Company, target price at Rs 1000/Sh (Neutral)

MS on *Amara Raja:* Maintain Underweight on Company, target price at Rs 967/Sh (Neutral)

MS on Steel Stocks: Sector continued to do well, with expectations of policy reforms continuity, believe outperformance is overdone (Neutral)

MS on *SAIL:* Maintain Underweight on Company, target price at Rs 113/Sh (Neutral)

MS on *JSPL:* Maintain Underweight on Company, target price at Rs 655/Sh (Neutral)

MS on *JSW Steel:* Maintain Underweight on Company, target price at Rs 650/Sh (Neutral)

MS on *Tata Steel:* Maintain Underweight on Company, target price at Rs 145/Sh (Neutral)

Citi on *Star Health:* Maintain Sell on Company, target price at Rs 555/Sh (Neutral)

JP Morgan on *HDFC Life:* Maintain Neutral on Company, target price at Rs 640/Sh (Neutral)

JP Morgan on *ICICI Lombard:* Maintain Neutral on Company, target price at Rs 1510/Sh (Neutral)

JP Morgan on *GIC RE:* Maintain Underweight on Company, target price at Rs 197/Sh (Neutral)

JP Morgan on *LIC:* Maintain Underweight on Company, target price at Rs 790/Sh (Neutral)

Stocks Picker Articles

01 Jul 2024 05:27

Corporate Actions

Dividend

01-Jul-24
GHCL: Final Dividend - Rs. - 12.00
GEOJITFSL: Final Dividend - Rs. - 1.50
TATACOMM: Final Dividend - Rs. - 16.70
GHCLTEXTIL: Final Dividend - Rs. - 0.50
LLOYDSENT: Final Dividend - Rs. - 0.10

02-Jul-24
QUESTCAP: Final Dividend - Rs. - 2.50
EPIGRAL: Final Dividend - Rs. - 5.00
SWASTIKA: Final Dividend - Rs. - 2.00

03-Jul-24
JYOTHYLAB: Final Dividend - Rs. - 3.50
DALMIASUG: Final Dividend - Rs. - 1.25

04-Jul-24
SKFINDIA: Final Dividend - Rs. - 130.00
TIDEWATER: Final Dividend - Rs. - 20.00
BALAMINES: Final Dividend - Rs. - 11.00
TATAPOWER: Final Dividend - Rs. - 2.00
SOLARINDS: Final Dividend - Rs. - 8.50

05-Jul-24
REDINGTON: Dividend - Rs. - 6.20
3MINDIA: Final Dividend - Rs. - 685.00
ALLSEC: Final Dividend - Rs. - 15.00
APOLLOTYRE: Final Dividend - Rs. - 6.00
PEL: Final Dividend - Rs. - 10.00
FUTSOL: Final Dividend - Rs. - 1.00
SHRAAITECH: Final Dividend - Rs. - 0.75
NUCLEUS: Final Dividend - Rs. - 12.50
DUTRON: Final Dividend - Rs. - 1.50
M&M: Final Dividend - Rs. - 21.10
WELENT: Final Dividend - Rs. - 3.00
ESCORTS: Final Dividend - Rs. - 18.00
BHARATFORG: Final Dividend - Rs. - 6.50
ASTRAZEN: Final Dividend - Rs. - 24.00
MLKFOOD: Interim Dividend - Rs. - 2.50
ARTEMISMED: Final Dividend - Rs. - 0.45
THERMAX: Dividend - Rs. - 12.00
NAVINFLUOR: Final Dividend - Rs. - 7.00
BIOCON: Final Dividend - Rs. - 0.50
BALKRISIND: Final Dividend - Rs. - 4.00
DJML: Final Dividend - Rs. - 0.20

08-Jul-24
CAMS: Final Dividend - Rs. - 16.50


IPO
Emcure Pharmaceuticals: 03-Jul-24; Close: 05-Jul-24
Bansal Wire Industries: 03-Jul-24; Close: 05-Jul-24

Buyback
Bajaj Consumer Care: Ex-Date: 02-Jul-24
eClerx Services: Ex-Date: 04-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
Oil India: Bonus Issue 1:2; Ex-Date: 02-Jul-24
GPT Infraprojects: Bonus Issue 1:1; Ex-Date: 03-Jul-24
Remedium Lifecare: Bonus Issue 3:1; Ex-Date: 06-Jul-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
Worth Investment: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Jul-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24
Bridge Securities: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Jul-24
Vantage Knowledge: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Jul-24

Right Issue
Inventure Growth & Securities: Ex-Date: 05-Jul-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
SEPC: 05-Jul-24; Close: 19-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24
Inventure Growth & Securities: 28-Jun-24; Close: 26-Jul-24

Spin Off
Oriental Carbon & Chemicals: Ex-Date: 01-Jul-24

Stocks Picker Articles

01 Jul 2024 04:32

*Newgen Software:* Company has received and accepted Purchase Orders. The aggregate value of the aforesaid purchase orders is Rs. 13 Cr. (Positive)

*IOB:* CRISIL has upgraded the credit ratings of the bank's Basel III Tier II bonds to CRISIL AA; Stable from CRISIL AA- ; Positive. (Positive)

*Asahi Songwan:* Unit successfully completed trial runs of Active Pharmaceutical Ingredients (Positive)

*GRP Ltd:* Company Issued Bonus Share in Ratio 3:1 (Positive)

*Epigral:* Company completes commissioning of 35,000 tn/annum CPVC plant at Dahej unit. (Positive)

*Tata Steel:* UK begins legal action against union strike, fears plant closure (Neutral)

*Coforge:* Om Prakash Bhatt takes over as Chairperson of Coforge as Basab Pradhan completes his tenure (Neutral)

*Vodafone Idea:* Company raised rates for prepaid and post-paid consumers by 10-21%. (Neutral)

*MOIL:* Company hikes prices of ore with manganese content, Cuts prices of ferro grades with manganese content below mn-44% by 8% w.e.f. July 1. (Positive)

*Aurobindo Pharma:* Company’s unit acquires U.K.-based Ace Laboratories for nearly Rs 18 crore. (Neutral)

*Orient Cement:* Company completes acquisition of 28.5% stake in Ardeur Renewables (Neutral)

*Samvardhana Motherson:* Company to sell entire 49.99% stake in JV, Lauak CIM Aerospace. (Neutral)

*TVS Motor:* Company increases stake in TVS Credit Services with Rs 282.67 crore investment. (Neutral)

*M&M:* Mahindra Group appoints Ankit Todi as the new Group Chief Sustainability Officer (Neutral)

*Bank of Baroda:* Bank plans capital raise through debt instruments for FY 2024-25. (Neutral)

*Sanghi Industries:* Company aays Ambuja Cements and Ravi Singhi have sold 3.52% stake. (Neutral)

*Auro Pharma:* Acquired entire share capital of Ace Laboratories Limited, UK (Neutral)

*Zomato:* Company gets GST demand of Rs 9.5 crore. (Neutral)

*Spandana:* Company has received a fresh request on from the outgoing Promoter for reclassification (Neutral)

*Tata Consumers:* Company gets income tax demand of Rs 172 crore. (Neutral)

*Navin Fluorine:* Approved Proposal of Fund Raising By Way Of Issuance of Equity Shares for an Aggregate Amount Not Exceeding Rupees 750 Cr (Neutral)

*Bharti Airtel:* Company gets GST penalty of over Rs 1.5 crore (Neutral)

*Huhtamaki:* Company has received the full consideration amount of Rs. 12 Cr for the sale of its land parcel at Thane, Maharashtra. (Neutral)

*Ganesh Housing:* Re-appoints Shekhar G. Patel as the MD & CEO effective July 1 (Neutral)

*Adani Ports:* Company has successfully divested 49% stake in Adani Ennore Container. (Neutral)

*Muthoot Fin:* Company successfully raised $1 million in funds to support their new project. (Neutral)

*HIL:* Company completes acquisition of Crestia Polytech and its core group entities (Neutral)

*Akzo Nobel:* Company gets a GST demand of Rs 56.7 crore. (Neutral)

*Poly Medicure:* Company approves raising upto Rs 1,000 crore via QIP (Neutral)

*ICICI Bank:* Bank approves appoint of Rohit Bhasin, Punit Sood as additional (Independent) Directors for 5 years. (Neutral)

*Neogen Chemicals:* Promoter sells 5.67% stake to SBI Mutual Fund and White Oak Group (Neutral)

*Maithan Alloys:* Company says that unit deferred to resume its production during June Due to Operational Reasons. (Negative)

*Bank of Baroda:* Bank Received Income Tax Order for Tax Demand of 1067.8 Cr Rupees. (Negative)

Stocks Picker Articles

28 Jun 2024 05:32

Corporate Actions

Stanley Lifestyles will make its debut on the BSE and NSE on June 28. The issue price has been fixed at Rs 369 per share.

Dividend

28-Jun-24
SWARAJENG: Final Dividend - Rs. - 95.00
MAWANASUG: Final Dividend - Rs. - 4.00
BANKBARODA: Dividend - Rs. - 7.60
GICHSGFIN: Final Dividend - Rs. - 4.50
NAM-INDIA: Final Dividend - Rs. - 11.00
ANDHRAPET: Dividend - Rs. - 2.00
DBOL: Final Dividend - Rs. - 2.50
INDUSINDBK: Final Dividend - Rs. - 16.50
RPGLIFE: Final Dividend - Rs. - 16.00
RECLTD: Final Dividend - Rs. - 5.00
WELCORP: Final Dividend - Rs. - 5.00
MAHSCOOTER: Final Dividend - Rs. - 60.00
KPIL: Final Dividend - Rs. - 8.00
VAIBHAVGBL: Final Dividend - Rs. - 1.50
BAJAJHLDNG: Final Dividend - Rs. - 21.00
SYNGENE: Final Dividend - Rs. - 1.25
AEROFLEX: Final Dividend - Rs. - 0.25
KSOLVES: Interim Dividend - Rs. - 8.00

01-Jul-24
GHCL: Final Dividend - Rs. - 12.00
GEOJITFSL: Final Dividend - Rs. - 1.50
TATACOMM: Final Dividend - Rs. - 16.70
GHCLTEXTIL: Final Dividend - Rs. - 0.50
LLOYDSENT: Final Dividend - Rs. - 0.10

IPO
Vraj Iron and Steel: 26-Jun-24; Close: 28-Jun-24

Buyback
Godawari Power and Ispat: Ex-Date: 28-Jun-24
Bajaj Consumer Care: Ex-Date: 02-Jul-24
eClerx Services: Ex-Date: 04-Jul-24

Bonus
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
Avonmore Capital: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 28-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
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

28 Jun 2024 04:54

Stock in Action

UltraTech Cement Ltd.: Ultra Tech cement recently announced that it will acquire a 23% non-controlling stake in Chennai-based India Cements (ICL) for a total consideration of around Rs 1,885 crore. The move aligns with UltraTech’s capacity expansion plan to capitalize on the growing demand for cement and an aim to spread across 70 locations across India by FY27. Demand from rural and urban housing, infrastructure and industrial & commercial remains robust and is likely to lend to the sector’s growth in the upcoming period. As per the company’s latest presentation, it is expected that cement demand will cross 625 Mtpa by FY30. As of the end of Q4FY24, UltraTech had an overall grey cement capacity of 146.2 mtpa (excluding Kesoram) and targets to increase it to 188.9 mtpa (excluding Kesoram) by FY27. Given this backdrop, the company’s latest buyout seems prudent. Performance wise, the company’s revenue from operations in Q4FY24 grew 9.4% YoY to Rs. 20,419 crore, driven by increased domestic sales volume. EBITDA of Rs. 4,250 crore witnessed a growth of 23% YoY. The company achieved record PAT of Rs. 2,258 crore in the quarter, which increased 36% YoY. Additionally, management expects to achieve almost a zero net cash on the balance sheet by the end of FY25E, excluding the Kesoram debt. Positive on UltraTech given its solid Q4FY24 performance, strategic acquisitions targeted at capitalizing on the expanding cement demand expected over the next 4-5 years and a healthy balance sheet position.

Kajaria Ceramics: Kajaria Ceramics continues to demonstrate robust profitability and solid execution despite sluggish retail demand. The management is hopeful of demand revival and has chalked out a strategy to scale up the business over the next three years. Tile volumes for FY24 stood at 108.1 million square metres (MSM), up 6% YoY. The tile business, which contributes nearly 90% to its top line, reported a modest revenue uptick in FY24. The growth in the consolidated top line was largely driven by new business verticals owing to the expansion of the product portfolio and entry into new markets. Sanitary ware/faucets and plywoods reported an impressive revenue growth of 15% and 35%, respectively. As per the management, the uptick in the real estate cycle should aid the demand prospects of Kajaria Ceramics with a lag of 1-2 years. The company is targeting a top line of Rs 6,500 crore by FY27, led by increased revenue contribution from new business verticals. Margins on an annualised basis are anticipated to be in the range of 15-17%. For the tile business, the management has guided to an 11-13 percent YoY volume growth, which will be driven by a combination of in-house capacity expansion and contract manufacturing. From a fundamental standpoint, Kajaria has exhibited impressive operating metrics throughout the past decade. Positive on Kajaria Ceramics given its various strategic initiatives and the scale-up of new business verticals should accelerate revenue growth.

Stocks Picker Articles

28 Jun 2024 04:41

*Stocks in News*



*Brigade Enterprises:* Company launches 6-tower residential project in Yelahanka, Bengaluru. (Positive)

*Jubilant Ingrevia:* Company successfully receives establishment inspection report (EIR) from USFDA concluded with zero 483 inspectional observation. (Positive)

*INFOSYS:* QORUS and Infosys Finacle Collaborate To Recognize Banking Innovation Initiatives Worldwide (Positive)

*Navkar Corporation:* JSW Infra’s arm JSW Port Logistics to acquire majority stake of Navkar Corporation (Positive)

*Bajaj Auto:* Company starts production at first overseas manufacturing plant in Brazil, even as exports slumped. (Positive)

*Ambuja Cements:* Adani Group firm Ambuja Cements said its board of directors approved the merger with Adani Cementation Ltd with the company. (Positive)

*TVS Motor:* Company incorporates wholly-owned subsidiary in Dubai, UAE. (Positive)

*Sahmi Hotels:* GTI Capital Alpha likely to sell 3% stake in Samhi Hotels via block deals, sources (Positive)

*BHEL:* Company has bagged the Rs 13,300 crore order to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corporation (DVC). (Positive)

*Bharti Airtel:* Company’s Nxtra has joined the RE100 initiative led by Climate Group in partnership with CDP. (Positive)

*Tega Industries:* Company unit entered into contract as consortium member with NMDC Ltd. (Positive)

*Reliance Ind:* Jio announces an increase in tariffs in the range of 12-25% (Positive)

*Swan Energy:* Company Says Pre - Payment of Rupees 300 Cr Debt for Its Floating Storage and Regasification Unit (Fsru) Project. (Positive)

*HCL tech:* Company announced 0.46% of equity at discount of 2.75% to closing price (Neutral)

*RBL Bank:* Board approves fund raising up to ₹3,500 crore via QIPs in one or more tranches via debt securities (Neutral)

*AU Small Finance Bank:* To raise funds up to ₹5,000 crore via QIP & other modes. (Neutral)

*Ambuja Cements:* Board approves merger of Adani Cementation with the company. (Neutral)

*Raymond:* Re-appoints Gautam Hari Singhania as MD of the company (Neutral)

*AU Small Finance:* Board will consider the proposal of raising funds by issue of equity shares. (Neutral)

*BPCL:* NCLT approves BPCL's subsidiary's offer for acquisition of Videocon Energy Brazil for up to $270 million (Neutral)

*Sagar Cements:* Company re-appoints S Anand Reddy as Managing Director & S Sreekanth Reddy as Joint Managing Director of the Company for a period of three (3) years. (Neutral)

*NBCC:* Company Approved Appointment of Saleem Ahmad as Chief Financial Officer. (Neutral)

*Polycab:* Promoters to sell upto 2.04% stake via block deal (Neutral)

*Vedanta:* Company raises Rs 2,500 crore via NCDs (Neutral)

*Yes Bank:* Executes one-time-settlement in one of its stressed loan exposures. (Neutral)

*Wipo:* Company units Designit North America and Wipro Design it Services complete merger effective July 1. (Neutral)

*RVNL:* Company incorporates subsidiary RVNL Middle East Contracting in Dubai (Neutral)

*IPCA Lab:* EU Court upholds Rs 126 crore fine imposed on IPCA Labs' subsidiary, Unichem Laboratories. (Neutral)

*Asian Paints:* Company’s Singapore unit completes acquisition of 23.4% stake in Egypt's SCIB Chemicals for Rs 34 crore. (Neutral)

*India Cement:* UltraTech Cement bought 7.05 cr shares at Rs 267.74/sh (Neutral)

*Mahindra Lifespace:* Board Meeting On July 24 To Consider Q1 Results. (Neutral)

Stocks Picker Articles

27 Jun 2024 05:29

Corporate Actions

Dividend

27-Jun-24
SPLPETRO: Final Dividend - Rs. - 7.00
TITAN: Dividend - Rs. - 11.00

28-Jun-24
SWARAJENG: Final Dividend - Rs. - 95.00
MAWANASUG: Final Dividend - Rs. - 4.00
BANKBARODA: Dividend - Rs. - 7.60
GICHSGFIN: Final Dividend - Rs. - 4.50
NAM-INDIA: Final Dividend - Rs. - 11.00
ANDHRAPET: Dividend - Rs. - 2.00
DBOL: Final Dividend - Rs. - 2.50
INDUSINDBK: Final Dividend - Rs. - 16.50
RPGLIFE: Final Dividend - Rs. - 16.00
RECLTD: Final Dividend - Rs. - 5.00
WELCORP: Final Dividend - Rs. - 5.00
MAHSCOOTER: Final Dividend - Rs. - 60.00
KPIL: Final Dividend - Rs. - 8.00
VAIBHAVGBL: Final Dividend - Rs. - 1.50
BAJAJHLDNG: Final Dividend - Rs. - 21.00
SYNGENE: Final Dividend - Rs. - 1.25
AEROFLEX: Final Dividend - Rs. - 0.25
KSOLVES: Interim Dividend

01-Jul-24
GHCL: Final Dividend - Rs. - 12.00
GEOJITFSL: Final Dividend - Rs. - 1.50
TATACOMM: Final Dividend - Rs. - 16.70
GHCLTEXTIL: Final Dividend - Rs. - 0.50
LLOYDSENT: Final Dividend - Rs. - 0.10

IPO
Allied Blenders and Distillers: 25-Jun-24; Close: 27-Jun-24
Vraj Iron and Steel: 26-Jun-24; Close: 28-Jun-24

Buyback
Godawari Power and Ispat: Ex-Date: 28-Jun-24
Bajaj Consumer Care: Ex-Date: 02-Jul-24
eClerx Services: Ex-Date: 04-Jul-24

Bonus
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
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Avonmore Capital: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 28-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
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

27 Jun 2024 05:00

Stock in Action

Mazagon Dock Shipbuilders Ltd.: Mazagon Dock, one of the leading shipbuilding yards in India, recently became the 18th public sector undertaking (PSU) to be awarded the 'Navratna' status. Since 1960, the company has built a total of 801 vessels including 27 warships, from advanced destroyers to missile boats and 7 submarines. The Govt. of India (GOI) is focusing on strengthening India’s defence sector through various initiatives to bolster national security amid global geo-political tension. Moreover, the government has pledged to more than double the country’s annual military exports to Rs. 50,000 crore by 2028-29. Continued focus on indigenization and self-reliance on GOI’s part has led to a rise in defence budget allocation and is likely to drive the sector’s growth going forward. Mazgaon Dock, with its world class infrastructure, seems well-poised to capitalize on this upbeat trend. In January 2024, the company signed a contract with Acquisition Wing of Ministry of Defence for Construction and Delivery of 14 Fast Patrol Vessels for the Indian Coast Guard at a cost of approximately Rs 1,070 crore. Further, the company portrayed solid performance in Q4FY24 with revenues from operations of Rs. 3,104 crore rising 49.3% on a YoY basis. EBITDA more than doubled in the quarter to Rs. 873 crore. Q4FY24 PAT climbed to Rs. 663 crore from Rs. 326 crore a year ago, indicating a more than double increase. Operating margin expanded from 9% to 16% in the quarter on a YoY basis. Mazgaon Dock boasts a strong order book which amounted to Rs. 38,561 crore as of Mar 31, 2024. Further, the company is debt free, highlighting its financial prudence. Positive on Mazagon Dock Shipbuilders given the GOI’s increased focus on strengthening the defence sector, strong order book pipeline, solid Q4FY24 performance and a healthy balance sheet position.

Rainbow Children's Medicare Ltd: Rainbow is a niche player in the children’s health space. It is the largest children’s hospital in terms of bed capacity, having grown from a 50-bed single hospital in 1999 to 1,935 beds as of FY24. With the widest range of paediatric services offerings in the country, Rainbow operates on a high number of cases in tertiary and quaternary care. Its ARPOB stood at ~Rs 55,800 in FY24, growing 14% YoY. Its revenue and EBITDA have grown at a CAGR of 15% and 19%, respectively, between FY22 and FY24, with the EBITDA margin averaging at 32 percent. Its ROCE of ~25% also remains comparable with the listed peers in the industry. The company plans to add ~660 beds in the next three years to reach ~2,595 by the end of FY27, increasing its capacity by ~35 percent. This should aid volumes and occupancy in the coming years. Supported by its balance sheet strength and a healthy cashflow generation, Rainbow will be able to fund most of its expansion capex through internal accruals. Rainbow’s obstetrics-gynaecology segment also continues to grow well. Positive on Rainbow Children's Medicare as the company has ample room to benefit from secular growth trends.

Stocks Picker Articles

27 Jun 2024 04:54

*Stocks in News*



*Ramky Infra:* Company receipt two award totaling Rs 131.19 Crores from Power Grid. (Positive)

*ITD Cementation:* Company wins ₹1,080 cr marine contract (Positive)

*KEC International:* Company gets new orders worth Rs 1,025 crore for its T&D and cables business (Positive)

*Sona Coms:* Company gets certification for traction motor for electric two-wheelers under PLI-Auto scheme. (Positive)

*SJVN:* SJVN Green Energy signs MoU with AM Green Ammonia India. (Positive)

*RVNL:* Company gets letter of acceptance (LoA) for project worth ₹156.47 crore from Southern Railway (Positive)

*PI INDUSTRIES:* Company says acquisition of plant health care plc through pi industries management consultancies, cost of acquisition £32.78m (Positive)

*UPL:* Company incorporates new subsidiary in Mauritius to carry out agro-chemicals business in the country: Exchange filing (Positive)

*Union Bank of India:* SANY India teams up with Bank to offer financing solutions. (Positive)

*JSW Energy:* Company signs PPA for 1325 MW renewable projects. (Positive)

*Bajaj Finance:* Company looks at entering postpaid loan business by September. (Positive)

*Supreme Ind:* Company received letter of acceptance from Indian Oil Corporation for project worth Rs 55 crore (Positive)

*Godrej Ind:* Company gets letter Jointly from Promoters That Realignment Pursuant to Family Settlement Agreement Expected to be Completed in July (Positive)

*Borosil:* Company will be debt-free after ₹150 crore QIP, says CEO (Positive)

*Bharti Airtel:* Company has acquired 97 MHz spectrum in 900 MHz, 1800 MHz and 2100MHz frequency bands for a total consideration of ₹6,857 crore (Positive)

*Reliance Ind:* JIO bought airwaves worth 9.74b rupees at telecom spectrum auction (Neutral)

*Vodafone Idea:* Company bought airwaves worth 35.1b rupees at telecom spectrum auction. (Neutral)

*PTC India Finance:* Company's board appoints R Balaji as MD & CEO following RBI approval. (Neutral)

*AU Small Finance:* Board will consider the proposal of raising funds by issue of equity shares. (Neutral)

*Yes Bank:* Company layoffs Lender cuts jobs as part of restructuring drive to reduce costs (Neutral)

*Jubilant Ingrevia:* Company appoints Varun Gupta as CFO of the company w.e.f. August 12, 2024. (Neutral)

*Tata Communications:* Company transfers it's identified new edged digital services business to unit Novamesh effective April 1. (Neutral)

*SBI:* Bank has raised Rs 10,000 crore through its fifth infrastructure bond issuance. (Neutral)

*Paras:* Company has appointed retired Indian Administrative Service officer UP Singh as an Independent Director on its Board. (Neutral)

*Zee ENT:* SEBI concedes to the writ petition filed by Subhash Chandra (Neutral)

*Dr Reddy’s:* Company’s Switzerland subsidiary to acquire North Star Switzerland and related portfolio from Haleon. (Neutral)

*InoxGreen:* Company to raise Rs 1,050 crore via preferential issue of shares. (Neutral)

* India Cements:* Company will be excluded from F&O segment after August series (Neutral)

*CSB Bank:* FIH Mauritius likely to sell 9.72% stake in CSB Bank via block deal, sets floor price at ₹352.4/share, sources to CNBC. (Neutral)

*Ganesha Ecosphere:* Company makes investment of Rs 100 crore in wholly-owned unit Ganesha Ecopet. (Neutral)

*L&T:* Company's engineering, procurement, and construction company is facing a deficit of 25,000–30,000 workers. (Negative)

*Patanjali Food:* Baba Ramdev and Acharya Balkrishna got notice from Kozhikode court over advertisements relating to ayurvedic medicines of Divya Pharmacy. (Negative)

*Archean Chemicals:* India Resurgence Fund – Scheme 1 & Scheme 2 & Piramal Natural Resources likely to sell 10.13% equity of company, sources to CNBC-TV18. (Negative)

Stocks Picker Articles

26 Jun 2024 05:24

Corporate Actions

DEE Development Engineers will make its debut on the bourses on June 26. The issue price has been fixed at Rs 203 per share.

Akme Fintrade India will make its debut on the bourses on June 26. The issue price has been fixed at Rs 120 per share.

Promoter Ambuja Cements and Ravi Sanghi will sell up to a 3.52% stake in Sanghi via offer for sale on June 26-27. The floor price for the OFS has been fixed at Rs 90 per share.

Milkfood recommended the proposal of sub-division of equity share of face value of Rs. 10 /- each equity shares of face value of Re. 5/- each, subject to the approval of the shareholders in General Meeting of the Company. Recommended the proposal for Issue of 1 bonus equity shares for every 1 equity share, for the purpose of issuance and allotment of Bonus Equity Shares of face value of Re. 5/- each.

Money Masters Leasing & Finance has approved sub-divide/split 1 Equity shares of the Company of Rs.10/- each, into 10 Equity Shares of face value of Re. 1/- each, subject to the approval of the members of the Company.

Dividend

26-Jun-24
AEGISLOG: Final Dividend - Rs. - 2.00
WELSPUNLIV: Final Dividend - Rs. - 0.10

27-Jun-24
SPLPETRO: Final Dividend - Rs. - 7.00
TITAN: Dividend - Rs. - 11.00

28-Jun-24
SWARAJENG: Final Dividend - Rs. - 95.00
MAWANASUG: Final Dividend - Rs. - 4.00
BANKBARODA: Dividend - Rs. - 7.60
GICHSGFIN: Final Dividend - Rs. - 4.50
NAM-INDIA: Final Dividend - Rs. - 11.00
ANDHRAPET: Dividend - Rs. - 2.00
DBOL: Final Dividend - Rs. - 2.50
INDUSINDBK: Final Dividend - Rs. - 16.50
RPGLIFE: Final Dividend - Rs. - 16.00
RECLTD: Final Dividend - Rs. - 5.00
WELCORP: Final Dividend - Rs. - 5.00
MAHSCOOTER: Final Dividend - Rs. - 60.00
KPIL: Final Dividend - Rs. - 8.00
VAIBHAVGBL: Final Dividend - Rs. - 1.50
BAJAJHLDNG: Final Dividend - Rs. - 21.00
SYNGENE: Final Dividend - Rs. - 1.25
AEROFLEX: Final Dividend - Rs. - 0.25
KSOLVES: Interim Dividend

01-Jul-24
GHCL: Final Dividend - Rs. - 12.00
GEOJITFSL: Final Dividend - Rs. - 1.50
TATACOMM: Final Dividend - Rs. - 16.70
GHCLTEXTIL: Final Dividend - Rs. - 0.50
LLOYDSENT: Final Dividend - Rs. - 0.10

IPO
Allied Blenders and Distillers: 25-Jun-24; Close: 27-Jun-24
Vraj Iron and Steel: 26-Jun-24; Close: 28-Jun-24

Buyback
Godawari Power and Ispat: Ex-Date: 28-Jun-24
Bajaj Consumer Care: Ex-Date: 02-Jul-24
eClerx Services: Ex-Date: 04-Jul-24

Bonus
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
Share India Securities: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 27-Jun-24
Avonmore Capital: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 28-Jun-24
Remsons Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Jul-24

Right Issue
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

26 Jun 2024 04:50

*Stock in Action*

*CONCOR:* CONCOR reported good set of 4QFY24 numbers mainly led by broad-based growth across its key business segments. The forward outlook is stable and the management is upbeat on growth prospects. Revenue during the quarter grew by 7% YoY. While the quarterly volumes increased 11% YoY, blended realisations declined 4% YoY on account of adverse changes in the revenue mix. Volumes in the domestic segment expanded 16% YoY, while volumes in the EXIM business rose 10% YoY. Operating profits increased 11% YoY to Rs 489 crore, with a margin expansion of 70 basis points led by network efficiencies. The company ended FY24 with the highest-ever throughput of 4.72 million TEUs (twenty-foot equivalent unit). The number of double-stacked trains also hit a new record of 5,440, which represents an impressive growth of 33% over last year. For FY25, the capex guidance is pegged around Rs 600 crore. The investment will be made in land procurement and development of terminals, IT upgradation, and the addition of wagons, containers, and rolling stock. Concor is rationalising its operating costs by surrendering unused land parcels and non-profitable terminals. The LLF expenses for FY25 are expected to remain around the FY24 level of Rs 420 crore. *Positive on CONCOR given the stable 4QFY24 performance.*

*HDFC Bank Ltd:* HDFC Bank posted solid Q4FY24 results mainly driven by strong growth in deposits (up 7.5% QoQ). The retail segment led to this growth and reported an increase of 3.5% on a QoQ basis, owing to the healthy performance in the mortgage business. Gross advances were up only 1.6% on a QoQ basis. Consolidated profit rose nearly 40% YoY to Rs. 17622.38 crore. Net Interest Margin (NIM) for Q4FY24 was 3.4%, improving 4 bps QoQ led by an improvement in the yields on assets by 4 bps, while the cost of funds remained steady on a sequential basis at 4.9%. The Bank’s asset quality remained stable QoQ and YoY basis. GNPA as of the end of Q4FY24 stood at 1.24%, slightly down from 1.26% witnessed in the prior quarter, while NNPA was stable at 0.3%. Capital adequacy ratio was healthy at 18.8% of which CET1 was 16.3%. ROA and ROE came in at 1.96% and 15.4% in Q4FY24 which seems encouraging. The Bank continues to focus on expanding its branches to sustain its growth trajectory in the near term. Management expects to maintain stability on profitability metrics, including ROAs and EPS, on a core basis over the next two to three years. Management expects NIMs to gradually improve in the medium term as they shift towards higher-yielding retail and SME loans and replace high-cost obligations from e-HDFC. *Positive on HDFC Bank given its solid Q4FY24 results on higher deposit growth, the company’s focus on expanding its branches and improved asset quality.*

Stocks Picker Articles

26 Jun 2024 04:49

*Stocks in News*



*VPRPL:* Company gets Rs 273.11 crore order from Uttar Pradesh Jal Nigam. (Positive)

*MAZDOCK:* Department of Public Enterprises approved the proposal for grant of Navratna status to Company (Positive)

*JTEKT INDIA:* Company approved capacity expansion for CVJ forging child part. (Positive)

*Gulshan Polyols:* Company started commercial operations of ethanol at 250 KLPD capacity grain based ethanol plant at Goalpara, Assam. (Positive)

*TRENT:* Company’s Westside collaborates with designer duo saaksha & kinni for "honey i'm home 2.0" collection. (Positive)

*GR Infra:* Company Approved Non-Binding Counter Offer for Acquisition Of 100% Equity Stake in Gr Aligarh Kanpur Highway by Bharat Highways Invit (Positive)

*Vodafone Idea:* Vodafone Group to inject up to ₹3,000 cr into company post Indus stake sales: Moneycontrol (Positive)

*Coforge:* CCI approves Coforge's acquisition of majority stake in Cigniti Technologies: CCI (Positive)

*Time Techno:* Company has received an additional order for supply of Composite Cylinders for total value of Rs. 55 crores (Positive)

*Adani Ports:* S&P Revises Adani Ports Outlook to Positive; Affirms 'BBB-' RTGS (Positive)

*GMDC:* Company and Gujarat Urja Vikas Nigam Join Hands to Ensure Energy Security for Gujarat (Positive)

*Schneider Electric:* Launches Smart Buildings Division to Drive Sustainable Building Innovation in Canada (Positive)

*Zee Ent:* NCLT allows withdrawal of implementation application of composite scheme of arrangement with Sony (Positive)

*Yes Bank:* Company to consider raising funds via debt securities on August 23, 2024. (Neutral)

*Sanghi Ind:* Promoter Ambuja Cements & Ravi Sanghi to sell up to 3.52% stake in the company via offer for sale (OFS). (Neutral)

*M&M FIn:* Vivek Karve resigns as CFO of Mahindra & Mahindra Finance effective October 31. (Neutral)

*IRCTC:* The news in circulation on social media about restriction in booking of e-tickets due to different surname is false and misleading. (Neutral)

*Bajaj Finance:* Tata Motors partners with Bajaj Finance for commercial vehicle financing. (Neutral)

*Mind space Business Parks REIT:* Company raises Rs 650 crore from International Finance Corp via issuance of sustainability linked bonds (Neutral)

*Tantia Construction:* Company Wins Order Worth 7cr Rupees (Neutral)

*Tech Mahindra:* Company plan of merger of unit healthnxt Inc with its parent company Tech Mahindra (Americas) has been approved (Neutral)

*NTPC:* Company planning to raise Rs 12,000 crore through NCDs. (Neutral)

*CE Info:* Promoter Rakesh Kumar Verma likely to sell 0.9% stake in CE Info Systems (Map My India) via block deal, floor price is at ₹2,293.20/Share (Neutral)

*Glenmark Pharmaceuticals:* Company to voluntarily recall 114 batches of potassium chloride extended-release capsules. (Neutral)

*Adani Ent:* Adani to invest ₹1.3 lakh crore in FY25 across portfolio companies. (Neutral)

*Tata Steel:* Company acquired 1,25,00,000 Equity Shares Of Face Value ₹10/- Each Aggregating To ₹12.5 Crore (Neutral)

*Borosil:* Company raises Rs 150 Crore via QIP, allots 47.2 Lakh Shares at Rs 318/Share. (Neutral)

*Adani Ports:* Company says Divij Taneja Appointed as Ceo-Logistics (Neutral)

*Jubilant Ingrevia:* Company Issued Commercial Papers of 1b Rupees on June 25 (Neutral)

*RattanIndia Enterprises:* Vijay Nehra resigns as COO of RattanIndia Enterprises effective June 24. (Negative)

Stocks Picker Articles

25 Jun 2024 05:14

Forthcoming Event

25th June: Milkfood to consider Dividend, Bonus issue & Stock Split; Money Masters Leasing & Finance to consider Stock Split; Innovatus Entertainment Networks, Inventure Growth & Securities, Ritco Logistics, Royal India Corporation, Virtualsoft Systems, Yes Bankto consider Fund Raising

26th June: HAL to consider Dividend; One Point One Solutions, Inox Green Energy Services, Vertoz Advertising, Zee Media Corporation, One Point One Solutions to consider Fund Raising

27th June: AU Small Finance Bank, City Crops Agro, Transwarranty Finance, Satin Creditcare Network, RBL Bank, to consider Fund Raising; Coastal Roadways to consider Voluntary Delisting

28th June: Ratnaveer Precision Engineering to consider Fund Raising; Krishna Institute of Medical Sciences to consider Stock Split; Rajoo Engineers to consider Bonus issue

01st July: Sakuma Exports to consider Bonus issue

08th July: NESTLEIND to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue

01st July: Tara Chand InfraLogistic Solutions to consider Stock Split

11th July: Real Eco-Energy to consider Stock Split

Stocks Picker Articles

25 Jun 2024 04:50

Stock in Action

Sterlite Technologies ltd.: Sterlite Technolgies 4QFY24 performance was adversely impacted by inventory destocking by US telecom players in India. However, company is striving to mitigate the weakness in the North American market by doubling down on sales in India and EMEA. Order book grew in Q4FY24 after declining for the last four quarters, showing signs of growth revival. Management is expecting revenue to grow QoQ during the course of FY25, although a meaningful improvement in the growth profile will take place in H2FY25. BEAD demand shall start contributing from H2FY25 with a meaningful pickup in CY25. During 4QFY24, company has received an order from Indian Telco for rollout of fiberisation to help in expanding 5G coverage. On digital business front, despite a tough macro environment, company was able to improve its revenue and gain market share in various geographies. Further, company is on process to reduce its overall debt level and since FY23, company has reduced net debt by Rs 340 crore. Positive on Sterlite Technologies given the rollout of fiberisation for expanding 5G coverage to boost the financial performance going ahead.

Mas Financial: Mas Financial has successfully concluded a Rs 500-crore QIP as it embarks on the next leg of growth after achieving the milestone of crossing Rs 10,000 crore in assets under management (AUM). Assets grew 25% YoY in FY24 and marks the eighth consecutive quarter of strong performance. While micro enterprise loans grew at a modest pace, SME loan growth was strong, while the wheels portfolio did very well. Mas is looking at expanding the used car financing business. The unsecured business of personal loans to salaried class grew handsomely on a small base. Mas is predominantly present in the west, in Gujarat, followed by Maharashtra, Rajasthan, and Madhya Pradesh. While the core markets will continue to grow, a large part of the incremental growth in the medium term will come from new markets in the south – Telangana, Karnataka, and Tamil Nadu as well as the northern markets of Delhi & NCR. It has a great track record of keeping pristine asset quality. Positive on Mas Financials given the strong growth momentum in business.