Stocks Picker Articles

10 Jul 2024 04:52

*Stocks in News*



*RVNL:* Company emerges lowest bidder for a project worth ₹202.87 crore of South Eastern Railway. (Positive)

*Shilpa Medicare:* Company unit's Raichur API facility in Karnataka clears GMP inspection conducted by Brazil regulatory agency (Positive)

*Infosys:* Company in 5-year deal with Sector Alarm to develop financial and business operating models. (Positive)

*KDDL:* Approval of Buyback through “Tender offer” route at Rs 3700/Sh (Positive)

*Waaree Renewable:* Company secures 412.5 MW solar project in Rajasthan (Positive)

*KIMS:* Company has executed a Share Purchase agreement to acquire 100% Equity Stake in Chalasani Hospitals private Limited (Positive)

*Ascensive Educare:* Company entered into pacts with blue dart express, Delhivery, pact for recruitment and payroll management (Positive)

*Advait Infratech:* Company wins order worth 73cr rupees (Positive)

*BPCL/IOC:* Russia has offered the scheme reduction of transaction fees on the oil imports (Positive)

*BLS International:* Acquired 100% stake in idata, turkey based visa and consular service provider by BLS International Holding Anonim Sirketi, Turkey. (Positive)

*RS Soft:* Q1 Sl Net Profit 30m Rupees Vs 23m, Q1 Revenue 187m Rupees Vs 111m YoY (Positive)

*IGL/MGL/Gujarat Gas/ATGL:* The Govt is likely to provide big relief to the City gas distribution companies in the budget. (Positive)

*Ashiana Housing:* Company looks to expand to Mumbai, Delhi NCR, Bengaluru amid real estate boom (Positive)

*HG Infra:* Company and Ultra Vibrant Solar Energy ink deal for projects worth Rs 465 crore. (Positive)

*Adani Power:* Mahan Energen, in 20-year power purchase agreement for 500 MW with Reliance Industries. (Positive)

*Adani Ports:* Company get LoI for developing and operating Berth No. 13 at Deendayal Port in Gujarat with a concession period of 30 years. (Positive)

*Havells:* Company is planning expansion of manufacturing capacity of cables at Alwar plant. (Positive)

*ONGC:* Company to invest ₹2 lakh crore to meet net zero emission target. (Neutral)

*Wipro:* Cognizant Technology says that CFO Jatin Dalal has resolved lawsuit with Wipro. (Neutral)

*JSW Steel:* Company consolidated production at 6.35 million tons, down 1% year-on-year. (Neutral)

*Varun beverages:* Company issued a $27.5 million corporate guarantee for its subsidiary varun beverages international DMCC, valid until June 30, 2027, in favor of ICICI bank's DIFC branch in Dubai. (Neutral)

*Parag Milk:* Company executed first amendment agreement to FCCB subscription agreement with IFC, revision in conversion price of FCCBS from 145 rupees to 135 rupees per share (Neutral)

*RMC Switchgears:* Company wins order worth 4.76cr rupees (Neutral)

*Mahindra & Mahindra:* Company cuts prices of top-end variants of XUV7OO SUV by almost Rs 1 lakh. (Neutral)

*IRM Energy:* Karan Kaushal resigns as CEO of Company effective July 31. (Neutral)

*Delhivery:* Cananda Pension Plan Investment Board likely to sell 3.17% equity of Delhivery via block deal. (Neutral)

*Mankind Pharma:* Capital Group affiliate, Hema CIPEF to sell 0.9% stake of Mankind Pharma via block deal. (Neutral)

*Bank of Baroda:* Hikes lending rates by 5 bps on most of tenures from July 12 (Neutral)

*M&M:* Mahindra Group reduces the price of its top XUV700 model to ₹19.49 lakh ex-showroom (Neutral)

*Reliance:* Company introduced the successor to last year's JioTag, called the JioTag Air. (Neutral)

*Marathon Nextgen:* Company's pre-sales area at 79,239 square feet, down 45% year-on-year. (Negative)

*Delta Corp:* Net profit at Rs 21.7 crore versus Rs 67.9 crore, EBITDA margin 17.35% VS 37.07% YoY. (Negative)

Stocks Picker Articles

09 Jul 2024 05:22

Corporate Actions

Garment Mantra Lifestyle has approved the issue Bonus shares to the existing equity share holders in the ratio 1:1 (one equity share for every one equity share of nominal value of Rs.1/- each) subject to approval of shareholders and regulatory authorities.

PVV Infra has approved issue of 1 Bonus Share for every 1 equity share held by the equity shareholders, subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required.

IM+ Capitals has recommended the proposal of sub-division of equity share of face value of Rs. 10 /- each into equity shares of face value of Re. 1/- each, subsequent to the approval of the shareholders in General Meeting of the Company.

Dividend

09-Jul-24
DEEPINDS: Final Dividend - Rs. - 2.44
JSWSTEEL: Final Dividend - Rs. - 7.30
ATISHAY: Final Dividend - Rs. - 1.00
GRINDWELL: Final Dividend - Rs. - 17.00
BAIDFIN: Final Dividend - Rs. - 0.10
POLYCAB: Dividend - Rs. - 30.00
INGERRAND: Final Dividend - Rs. - 20.00
JKCEMENT: Final Dividend - Rs. - 20.00
DCMSHRIRAM: Final Dividend - Rs. - 2.60
PERSISTENT: Final Dividend - Rs. - 10.00

10-Jul-24
MPHASIS: Final Dividend - Rs. - 55.00
WHEELS: Dividend - Rs. - 7.39
CROMPTON: Final Dividend - Rs. - 3.00

11-Jul-24
VTMLTD: Final Dividend - Rs. - 0.75
BHARATSE: Final Dividend - Rs. - 1.60
SKYIND: Final Dividend - Rs. - 1.00
SINCLAIR: Final Dividend - Rs. - 1.00
VIMTALABS: Final Dividend - Rs. - 2.00
ORIENTHOT: Dividend - Rs. - 0.50
CENTURYTEX: Dividend - Rs. - 5.00
ROUTE: Final Dividend - Rs. - 2.00

12-Jul-24
IOC: Final Dividend - Rs. - 7.00
PTL: Final Dividend - Rs. - 1.75
UJJIVANSFB: Final Dividend - Rs. - 1.50
BIMETAL: Final Dividend - Rs. - 12.50
JAYAGROGN: Dividend - Rs. - 7.50
DLINKINDIA: Final Dividend - Rs. - 13.00
INDUSFINL: Final Dividend - Rs. - 0.30
ONWARDTEC: Final Dividend - Rs. - 5.00
POLYCHEM: Final Dividend - Rs. - 30.00
NILKAMAL: Final Dividend - Rs. - 20.00
UTKARSHBNK: Final Dividend - Rs. - 0.50
PETRONET: Final Dividend - Rs. - 3.00
KABRAEXTRU: Final Dividend - Rs. - 3.50
TRANSCOR: Final Dividend - Rs. - 0.30
BSOFT: Final Dividend - Rs. - 4.00
20MICRONS: Final Dividend - Rs. - 1.25
MAHLOG: Final Dividend - Rs. - 2.50
MAHLIFE: Final Dividend - Rs. - 2.65
UNITDSPR: Final Dividend - Rs. - 5.00
IRMENERGY: Final Dividend - Rs. - 1.50
SUNPHARMA: Final Dividend - Rs. - 5.00
KIRLPNU: Final Dividend - Rs. - 4.00
BLUEDART: Final Dividend - Rs. - 25.00
ATUL: Dividend - Rs. - 20.00
THEMISMED: Final Dividend - Rs. - 0.50
JUBLFOOD: Final Dividend - Rs. - 1.20
NEULANDLAB: Final Dividend - Rs. - 14.00
SATINDLTD: Final Dividend - Rs. - 0.15
AUBANK: Final Dividend - Rs. - 1.00
ANANTRAJ: Final Dividend - Rs. - 0.73
WENDT: Final Dividend - Rs. - 20.00
AXISBANK: Final Dividend - Rs. - 1.00
PPLPHARMA: Final Dividend - Rs. - 0.11
SAFARI: Final Dividend - Rs. - 1.50


IPO
---

Buyback
Godawari Power and Ispat: 04-Jul-24; Close: 10-Jul-24
Bajaj Consumer Care: 05-Jul-24; Close: 11-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
Alliance Integrated Metaliks: Bonus Issue 2:1; Ex-Date: 11-Jul-24
Alphalogic Techsys: Bonus Issue 14:48; Ex-Date: 12-Jul-24
Filtra Consultants: Bonus Issue 1:3; Ex-Date: 12-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
Bridge Securities: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Jul-24
PG Electroplast: 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
WPIL: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Jul-24
KPI Green Energy: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 18-Jul-24
Elecon Engineering: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 19-Jul-24
NHC Foods: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Jul-24
Cellecor Gadgets: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24

Stocks Picker Articles

09 Jul 2024 04:51

Stock in Action

Dabur India Ltd: Dabur India, one of India's leading FMCG Companies, recently provided its Q1FY25 business update, whereby it noted that there was a sequential improvement in demand trends with rural growth picking up. The firm’s consolidated revenue is expected to register mid to high single digit growth during the quarter under discussion. The India business is anticipated to record mid-single digit volume growth, with the HPC & Healthcare segment likely to increase in high-single digits. While the beverage segment was hurt by subdued travel and out of home consumption due to the scorching summers, the food (culinary) category portrayed good momentum. Dabur’s “Badshah Masala” continued to perform well and is likely to post strong volume led growth in high teens. The International Business, the segment is expected to post strong growth in constant currency terms. However, severe currency depreciation in Turkey and Egypt continued to have an impact on translated growth. As per the update, the company’s gross margins are expected to witness some expansion due to roll over price increases and cost-saving initiatives. Advertising & promotional spend grew ahead of revenue. Consequently, the operating profit is expected to grow marginally ahead of revenue. Going forward, Dabur expects to benefit from a forecasted normal monsoon and the government’s continued focus on macro-economic growth. In FY24, consolidated revenues witnessed a 7.6% YoY growth. Gross margin expanded 240bps while PAT rose 7.9% YoY. Notably, 95% of the company’s portfolio witnessed gains in market share in the last fiscal. Positive on Dabur given the revival in demand (especially in the rural sector) and efforts to increase its distribution reach and drive growth in market shares across the portfolio.

Krsnaa Diagnostics: Krsnaa Diagnostics, which operates a unique business model under the PPP arrangement, has the most to gain, given its competitive pricing and established presence in the under-penetrated Tier II/III markets. Over the last 12 months, Krsnaa established 15 new CT MRI centres, 21 new pathology labs, and established around 805 pathology collection centres and 63 new tele-reporting centres. The margin erosion was also somewhat attributed to the shift in the revenue mix from the high-margin radiology segment to pathology segment. Given the ramp-up of the newly executed projects, the ongoing revenue growth trajectory should continue into the next fiscal year. The management expects the company’s top line to grow at ~25-30% in FY25. Moreover, gross margin is expected to stabilise at ~78% and EBITDA margin at ~25-26%. In Q4FY24, Krsnaa continued to face delays in receivables from Himachal Pradesh, leading to higher working capital costs. As a result, the company had to resort to short-term debt, leading to a higher gross debt of around Rs 160 crore in FY24 vs Rs 33 crore in FY23. Expanding into the B2C segment will help Krsnaa to optimise its existing infrastructure and resources more efficiently and simultaneously add new opportunities to grow with a larger market size. Positive on Krsnaa Diagnostics given its competitive pricing and established presence in the under-penetrated markets.

Stocks Picker Articles

09 Jul 2024 04:50

*Stocks in News*


*KPI Green Energy:* Company signs 50MW hybrid power purchase deal with Gujarat Urja Vikas Nigam. (Positive)

*Diamond Power:* Company wins order worth 409 Cr Rupees from Adani Green. (Positive)

*Torrent Power:* Company in pact with ARSS teeks and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu (Positive)

*Waaree Renewable:* Company secures 412.5 MW solar project in Rajasthan (Positive)

*Mahanagar Gas:* Company hikes CNG price by ₹1.50/kg & domestic PNG by ₹1/SCM in & around Mumbai w.e.f. July 9 (Positive)

*Bajaj Finserve:* Bajaj Allianz life insurance co June new business premium seen at 10.8B vs 7.68B (MoM) (Positive)

*HEC Infra:* Company get order 28.44 cr rupees (Positive)

*HG Infra:* Company enters into MoU with Ultra Vibrant Solar Energy for execution of solar power plant project (Positive)

*Easemy trip:* Company expands Its Franchising Network, Opens Doors to the First Franchise Store in Gujarat (Positive)

*Lupin:* Company gets tentative U.S. FDA approval for ANDA of Empagliflozin. (Positive)

*Bandhan Bank:* Company launches enhanced trade products to facilitate global business transactions (Positive)

*Ajmera:* Sales surged 36% year-on-year to Rs 306 crore in Q1FY25 due to recently launched Ajmera Vihara project in Bhandup, Mumbai. (Positive)

*Bandhan bank:* Launched an array of trade products to facilitate global business transactions (Positive)

*IRB/DBL/AShoka:* Government seeks nod to accelerate process of awarding of road projects new scheme expected to replace Bharatmala Pariyojna. (Positive)

*HFCL:* Company's Netherlands unit incorporates subsidiary in the U.K. for making optical fibre cables (Positive)

*LIC:* Premium up 13.6%; total APE up 20.8% & retail APE up 12.7%. (Positive)

*SBI Life:* Premium up 22.0%; total APE up 16.6% & retail APE up 18.3%. (Positive)

*ICICI Pru:* Premium up 14.0%; total APE up 12.7% & retail APE up 27.8%. (Positive)

*HDFC Life:* Premium up 8.0%; total APE up 25.5% & retail APE up 32.6%. (Positive)

*Keystone:* ICRA has upgraded long term rating for Rs 100 cr bank facilities of the company from ICRA A to ICRA A-. (Positive)

*RailTel Corp:* Company to pay Rs. 1.85 per Share as final dividend. (Neutral)

*Spice Jet:* Company has not deposited staff's PF since January 2022. (Neutral)

*Container Corp:* Company total throughput at 11.59 lakh TEUs, up 6% YoY (Neutral)

*Pitti Engineering:* Company opens QIP for raising up to Rs 360 crore, sets floor price as Rs 1,054.25/share (Neutral)

*VA Tech Wabag:* Company approved sale of 100% stake in wabag water services S.R.L, Romania, deal for EUR 1.2M (Neutral)

*Bank of Baroda:* Alok Vajpeyi ceases to serve as Director of bank w.e.f 8th- July-2024 upon completion of his tenure (Neutral)

*M&M:* Company Launces Mileage guarantee for BS6 OBD. (Neutral)

*Senco Gold:* Company reports retail sales growth of 11% in Q1FY25. (Neutral)

*Sanofi:* Board Meeting On July 26 To Consider Q1 Results. (Neutral)

*IDFC First Bank:* Board Meeting On July 27 To Consider Q1 Results. (Neutral)

*Max Life:* Premium down 6%, total APE up 17.6% & retail APE up 22.2%. (Neutral)

*HCL Tech:* Chairperson Roshni Nadar Malhotra conferred the Chevalier de la Légion d’Honneur by France. (Neutral)

*Godrej CP:* India business performed well with high-single digit organic volume and mid-single digit value growth. (Neutral)

*Nestle India:* Shareholders approve royalty payment rate of 4.5% to Swiss parent company. (Neutral)

*Piramal Enterprises:* Company intends to ramp up growth to 15% and boost assets under management to Rs 80,000 crore. (Neutral)

*Dixon Technologies:* Company will acquire 6.5% stake in Aditya Infotech for divesting in its joint venture with the company. (Neutral)

*Jio Financial:* Charanjit Attra resigns as Group COO of Company, effective July 8. (Neutral)

*Utkarsh SFB:* Gets RBI nod for re-appointment of Govind Singh as MD and CEO for 3 years effective September 21 (Neutral)

*Jupiter Wagons:* Company opens QIP, sets floor price at ₹689.47/share. (Neutral)

Stocks Picker Articles

08 Jul 2024 05:18

Forthcoming Event

08th July: NESTLEIND, RAILTEL to consider Dividend; Garment Mantra Lifestyle to consider Bonus issue; PVV Infra to consider Bonus issue & Stock Split; Shrydus Industries to consider Fund Raising; IM+ Capitals to consider Stock Split

09th July: RSSOFTWARE to consider Dividend; KDDL to consider Buyback; Cian Healthcare, Diamines & Chemicals, Kalpataru Projects International, SRG Housing Finance to consider Fund Raising

10th July: PECOS, STEELCITY to consider Dividend; Bajaj Healthcare, Indowind Energy, Power Grid Corporation of India to consider Fund Raising

11th July: TCS to consider Dividend; Diksat Transworld, Real Eco-Energy to consider Stock Split; Wealth First Portfolio Managers to consider Fund Raising

12th July: HCLTECH to consider Dividend; Indo Cotspin to consider Bonus issue; VIP Clothing to consider Fund Raising

13th July: BEPL to consider Dividend; Geojit Financial Services to consider Fund Raising

15th July: CRISIL, HATSUN to consider Dividend; HDFC Life Insurance Company to consider Fund Raising

19th July: Bigbloc Construction to consider Bonus issue; Aether Industries to consider Fund Raising

22nd July: COFORGE to consider Dividend

25th July: EMBASSY to consider Dividend

30th July: CASTROLIND to consider Dividend

Stocks Picker Articles

08 Jul 2024 05:17

*Fund Houses Recommendations*


Jefferies on *Bajaj Auto:* Maintain Buy on Company, target price at Rs 11630/Sh (Positive)

Nomura on *Bajaj Auto:* Maintain Buy on Company, target price at Rs 10207/Sh (Positive)

GS on *Bajaj Auto:* Maintain Neutral on Company, raise target price at Rs 9970/Sh (Positive)

MS on *Reliance Ind:* Maintain Overweight on Company, target price at Rs 3570/Sh (Positive)

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

Nuvama on *MGL:* Maintain Buy on Company, raise target price at Rs 1957/Sh (Positive)

Nuvama on *IGL:* Maintain Buy on Company, raise target price at Rs 598/Sh (Positive)

Nuvama on *GUJGAS:* Maintain Buy on Company, raise target price at Rs 740/Sh (Positive)

Investec on *NHPC:* Initiate Buy on Company, target price at Rs 124/Sh (Positive)

Investec on *Inox Wind:* Initiate Buy on Company, target price at Rs 176/Sh (Positive)

Investec on *Kalpataru:* Initiate Buy on Company, target price at Rs 1473/Sh (Positive)

Investec on *KEC:* Initiate Buy on Company, target price at Rs 1002/Sh (Positive)

Investec on *JSW Energy:* Initiate Hold on Company, target price at Rs 687/Sh (Positive)

Equirus on *R Systems:* Initiate Add on Company, target price at Rs 570/Sh (Positive)

Equirus on *Stylam:* Initiate Buy on Company, target price at Rs 2489/Sh (Positive)

Nomura on *Bank Baroda:* Maintain Buy on Bank, target price at Rs 320/Sh (Positive)

GS on *Bank Baroda:* Maintain Buy on Bank, target price at Rs 300/Sh (Positive)

MS on *Bank Baroda:* Maintain Equal weight on Bank, target price at Rs 280/Sh (Neutral)

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

Nomura on *Bajaj Auto:* Maintain Buy on Company, target price at Rs 6250/Sh (Neutral)

MS on *Marico:* Maintain Equal weight on Company, target price at Rs 566/Sh (Neutral)

MS on *Titan:* Maintain Equal weight on Company, target price at Rs 3526/Sh (Neutral)

MS on *Dabur:* Maintain Equal weight on Company, target price at Rs 500/Sh (Neutral)

JP Morgan on *Dabur:* Maintain Neutral on Company, target price at Rs 580/Sh (Neutral)

GS on *Titan:* Maintain Buy on Company, target price at Rs 3700/Sh (Neutral)

JP Morgan on *Info Edge:* Maintain Overweight on Company, target price at Rs 6900/Sh (Neutral)

Nomura on *Indusind Bank:* Maintain Neutral on Bank, target price at Rs 1650/Sh (Neutral)

Citi on *Indusind Bank:* Maintain Buy on Bank, target price at Rs 2010/Sh (Neutral)

JP Morgan on *Titan:* Downgrade to Neutral on Company, cut target price at Rs 3450/Sh (Negative)

Stocks Picker Articles

08 Jul 2024 04:03

*Stocks in News*



*KPI Green Energy:* Company signs 50MW hybrid power purchase deal with Gujarat Urja Vikas Nigam. (Positive)

*FACT:* Company got consent to recover 883.6 ml rupees. (Positive)

*Welspun corp:* Company says investment in a special purpose vehicle for supply of 15.50 MWP ground mounted solar power to the company and any of its subsidiaries (Positive)

*Federal Bank:* Company has entered into a strategic bancassurance partnership with Bajaj Allianz life insurance company Ltd. (Positive)

*Marico:* Company International business delivered double-digit constant currency growth.. (Positive)

*Fortis Health:* Company recommends re-appointment of Ashutosh Raguvanshi as MD and CEO for 2 years effective March 19 (Positive)

*Adani Willmar:* Company achieved robust volume growth of 13% (YOY), company Q1 total sales value up 11% (YOY) (Positive)

*JM Fin:* Unit JM Financial Credit Solutions Ltd Acquires A 71.79% Stake In JM Financial Asset Reconstruction From JM Financial Ltd For Rs. 856 Crore (Positive)

*eClerx:* Company announced a buyback of 1,375,000 Equity Shares at Rs. 2,800 per Share, Totaling Rs. 3,850m (Positive)

*NLC Ind:* Company has Successfully Bid for Its Second Commercial Coal Mine Block, Machhakata in Odisha (Positive)

*Nykaa:* Company projects 22-23% revenue growth and mid-twenties GMV increase for Q1 (Positive)

*PC Jeweller:* Punjab National Bank (PNB) approves PC Jeweller’s One Time Settlement (OTS) proposal to settle the outstanding dues. (Positive)

*Indian Bank:* Total business growth of 10.9% year-on-year to ₹12.21 lakh crore. Total deposits up 9.5% from last year to ₹6.81 lakh crore. (Positive)

*Signature Global:* Company achieves record pre-sales and collections in Q1. (Positive)

*PCBL:* Company gets patent for invention titled 'hybrid carbon black grade comprising graphene to improve performance of rubber compound' (Positive)

*Bank Baroda:* Domestic advances up 8.5% from last year to ₹8.82 lakh crore. Domestic retail advances up 20.8% to ₹2.22 lakh crore. (Neutral)

*Indusind Bank:* Bank net advances up 16% (YOY) as of June end, provisional deposits as of June end up 15% (YOY) (Neutral)

*Dabur:* Expect consolidated revenue to grow in mid-to-high single digit, while India business may see mid-single digit volume growth. (Neutral)

*Krsnaa Diagnostics:* Receives order from Bhabha Atomic Research Centre for providing Tele Reporting Services for Radiology at the BARC Hospital, Mumbai (Neutral)

*MCX:* Ramesh Gurram Resigns as Chief Information Security Officer & Data Protection Officer (Neutral)

*Tata Steel:* Co Says India Deliveries at 4.94 Million Tonnes, Up 3% YoY. Indian Business Saw Best Ever Q1 Sales (Neutral)

*Cigniti Technologies:* Company appoints Pankaj Khanna as executive director for 2 years (Neutral)

*Anup Engineering:* Company approves appointment of Reginaldo Dsouza as managing director for 3 years. (Neutral)

*JSW Energy:* Company announced plans for a capital expenditure of Rs 15,000 crore in the current financial FY25. (Neutral)

*Cello World:* Company raises Rs 737 cr via QIP. (Neutral)

*Bank of Baroda:* Company to raise Rs 7,500 crore via debt capital instruments. (Neutral)

*Coforge:* Company acquires additional 28% stake in Cigniti Technologies for about Rs 1,072 crore via open market operations. (Neutral)

*Power Grid:* Company to borrow up to Rs 16,000 crore through various sources in FY26. (Neutral)

*Aditya Birla Capital:* Mukesh Malik to resign as Company’s COO effective July 31 (Neutral)

*SBI Card:* Amritesh Mohan resigns as Company’s Deputy CEO, owing to his transfer back to SBI. (Neutral)

*Datamatics Global:* Sandeep Mantri to resign as CFO effective August 9 (Neutral)

*Bajaj Auto:* Bajaj Freedom, company unveils world’s first CNG motorcycle. (Neutral)

*IEX:* Company’s promotes Executive Director Rohit Bajaj as joint MD for 3 years w.e.f. August 10 (Neutral)

Stocks Picker Articles

05 Jul 2024 05:34

Forthcoming Event

05th July: Bank of Baroda, GPT Infraprojects, Naksh Precious Metals, Spandana Sphoorty Financial to consider Fund Raising

06th July: ABIRAFN to consider Dividend; Datasoft Application, Macro International, Sadbhav Engineering 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

09th July: KDDL to consider Buyback; Diamines & Chemicals, Kalpataru Projects International to consider Fund Raising

11th July: TCS to consider Dividend; Real Eco-Energy to consider Stock Split; Wealth First Portfolio Managers to consider Fund Raising

12th July: HCLTECH to consider Dividend

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

Stocks Picker Articles

05 Jul 2024 04:53

*Stocks in News*


*Alhuwalia Contracts:* Company gets Rs 572 crore order from Airport Authority of India for development of new civil enclave at Darbhanga Airport in Bihar. (Positive)

*CG Power:* Company enters into Development Agreement with Sky bound Realty. (Positive)

*RVNL:* Company signs MoU with Delhi Metro Rail Corp for participation in upcoming projects in India and abroad (Positive)

*Sanghvi Movers:* Company incorporates wholly owned subsidiary, Sangreen Logistics. (Positive)

*Railtel corporation:* Company secured order worth Rs.239.6m (Positive)

*Shilpa Medicare:* Company’s CDMO customer reported positive results from pivotal clinical trial & placed binding purchase order. (Positive)

*Raymond:* Company Board approves demerger of Raymond Realty and Raymond Limited. 1 equity share of Raymond Realty every 1 equity share of Raymond Limited. (Positive)

*BGR Energy:* Company to raise up to ₹1,000 cr via rights issue (Positive)

*KDDL:* Company board meeting on July 9 to consider a proposal for buyback of shares (Positive)

*IDFC First Bank:* LIC acquires additional 2.68% stake in Bank for Rs 150 crore (Positive)

*ICICI Lombard:* Company launches AI-powered health insurance plan (Positive)

*Ujjivan SFB:* Deposits up 22% at Rs 32,500cr; Loan book up 19% at Rs 30,091cr YoY (Positive)

*Capital SFB:* Asset & CASA ratio improves QoQ, Deposit at Rs7778cr vs Rs 7064 cr, up 10.1% YoY (Positive)

*PNB:* Global Deposits Up 2.8% QoQ & 8.5%, Domestic Deposits Up 2.7% QoQ & 8.1% YoY (Positive)

*IRCON:* Company gets order worth ₹750.82 crore from Rail Vikas Nigam Limited (RVNL) (Positive)

*United Spirits:* Company signs leased manufacturing agreement with West Bengal government. (Positive)

*UCO Bank:* Total Advances Up 17.78% at Rs 1.94 lakh Cr Vs Rs 1.64 lakh Cr YoY, Total Deposits Up 7.39% at Rs 2.68 lakh Cr Vs Rs 2.50 lakh Cr YoY (Positive)

*Poonawalla Fincorp:* Company's AUM grew by 52% to Rs 26,970 crore in Q1FY25. (Positive)

*Krsnaa Diagnostics:* Receives order from Bhabha Atomic Research Centre for providing Tele Reporting Services for Radiology at the BARC Hospital, Mumbai (Positive)

*VST Ind:* Radhakishan Damani increased stake by 2 percent to 36.33 percent (Positive)

*Bajaj Auto:* Company to launch World's First CNG Bike. Plans to manufacture 20,000 units/month by 2025 (Positive)

*ESAF Small Finance Bank:* Total Deposits Up 33.41% YoY & Up 5.13% QoQ, Term Deposits Up 24.65% YoY & 3.87% QoQ (Positive)

*Mahindra Life space:* Company Developers selected as preferred partner for redevelopment of 7 residential societies in Mumbai's Borivali West. (Positive)

*FSN E-Commerce:* Company’s arm incorporates wholly owned subsidiary, Nysaa Cosmetic Trading in Qatar (Positive)

*Ixigo:* Net profit at Rs 7.34 cr vs Rs 4.69 cr (YoY), Revenue at Rs. 167.99 cr vs Rs. 138.85 cr (YoY) (Positive)

*H.G. INFRA:* Company says H.G. solar projects PVT ltd, a wholly owned subsidiary of co, has incorporated a wholly owned subsidiary, namely H.G. DUDU solar project PVT ltd (Neutral)

*HDFC Bank:* The Bank’s gross advances grew by 14.9% YoY (Excluding merger impact) (Last Quarter growth was 17.3%) The Bank’s deposit grew by 16.5% YoY (Excluding merger impact) (Last Quarter growth was 18.4%) (Neutral)

*CIPLA:* Company says dissolution of wholly owned step-down subsidiary in Philippines. (Neutral)

*Zomato:* Company shuts down hyperlocal delivery platform 'Xtreme' amid poor demand (Neutral)

*Delhivery:* MCA approves incorporation of Company’s wholly-owned subsidiary, Delhivery Robotics India. (Neutral)

*IDBI Bank:* Total Deposits Up 13% At Rs. 2.77 lakh Cr Vs Rs. 2.44 LK Cr (YoY), Net Advances Up 17% at Rs. 1.94 Lk Cr vs Rs 1.65 Lk Cr (YoY) (Neutral)

*Greaves Ind:* Unit Greaves Finance Names P. B. Sunil Kumar as CEO. (Neutral)

*Lloyds Metals:* QIP opens at ₹732.08/sh floor price (Neutral)

*Coforge:* Company acquires 30 lakh shares of CignitiTech aggregating to 11.07% of current paid-up share capital & 10.97% of expanded capital. (Neutral)

Stocks Picker Articles

04 Jul 2024 05:23

Corporate Actions

Caspian Corporate Services has approved the Issuance of 2 Bonus Shares for every 1 Equity Shares held subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required.

Aditya Vision has approved Sub-Division/ Split of 1 Equity Share of face value of Rs. 10/- each, into 10 equity shares of face value of Rs. 1 /- each, subject to the approval of the Members of the Company and regulatory/statutory approvals as may be required.

Dividend

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
eClerx Services: Ex-Date: 04-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
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
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

Stocks Picker Articles

04 Jul 2024 04:45

*Fund Houses Recommendations*


MS on *Tata Consumer:* Maintain Overweight on Company, target price at Rs 1288/Sh (Positive)

MS on *Polycab:* Maintain Overweight on Company, target price at Rs 7321/Sh (Positive)

JP Morgan on *Bajaj Finance:* Maintain Overweight on Company, target price at Rs 8500/Sh (Positive)

MS on *Bajaj Finance:* Maintain Overweight on Company, target price at Rs 9000/Sh (Positive)

UBS on *L&TFH:* Maintain Buy on Company, target price at Rs 230/Sh (Positive)

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

Nuvama on *Suraj Estate:* Initiate Buy on Company, target price at Rs 757/Sh (Positive)

Ambit on *Tarc:* Initiate Buy on Company, target price at Rs 320/Sh (Positive)

Yes on *Prestige:* Initiate Buy on Company, target price at Rs 3021/Sh (Positive)

Investec on *Credit Access:* Maintain Buy on Company, target price at Rs 1900/Sh (Positive)

Nomura on *Federal Bank:* Maintain Buy on Bank, target price at Rs 195/Sh (Positive)

Kotak on *Lupin:* Upgrade to Add on Company, raise target price at Rs 1805/Sh (Positive)

UBS on *Gujarat Gas:* Visible trend of consumer demand normalization (Neutral)

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

Citi on *Wipro:* Maintain Sell on Company, target price at Rs 455/Sh (Neutral)

Citi on *Indegene:* Maintain Sell on Company, target price at Rs 510/Sh (Neutral)

MOSL on *ITC:* Maintain Buy on Company, target price at Rs 500/Sh (Neutral)

MS on *Britannia:* Maintain Equal weight on Company, target price at Rs 5021/Sh (Neutral)

MS on *Titan:* Maintain Equal weight on Company, target price at Rs 3526/Sh (Neutral)

MS on *Dabur:* Maintain Equal weight on Company, target price at Rs 500/Sh (Neutral)

MS on *HUL:* Maintain Underweight on Company, target price at Rs 1876/Sh (Neutral)

Investec on *Bajaj Finance:* Maintain Hold on Company, target price at Rs 7600/sh (Neutral)

Investec on *Can Fin Home:* Maintain Hold on Company, target price at Rs 800/sh (Neutral)

Nomura on *Yes Bank:* Maintain Neutral on Company, target price at Rs 17/Sh (Neutral)

Jefferies on *Sun Pharma:* Maintain Buy on Company, target price at Rs 1785/Sh (Neutral)

Nomura on *Bandhan Bank:* Maintain Reduce on Company, target price at Rs 170/Sh (Neutral)

Stocks Picker Articles

03 Jul 2024 05:15

Forthcoming Event

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

04th July: Lloyds Metals And Energy to consider Fund Raising

05th July: Bank of Baroda, GPT Infraprojects, Naksh Precious Metals, Spandana Sphoorty Financial to consider Fund Raising

06th July: ABIRAFN to consider Dividend; Datasoft Application, Macro International, Sadbhav Engineering 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

03 Jul 2024 05:11

Stock in Action

CSB Bank Ltd.: As per the bank’s recently released business update for Q1FY25, it witnessed healthy growth in total deposits and gross advances. Total deposits in the quarter grew 22.24% YoY to Rs. 29,920 crore. Of this amount, term deposits were Rs. 22,471 crore, exhibiting a rise of 32.75%, and CASA was Rs. 7,449 crore, which fell by just 1.32%. Advances against Gold & Gold Jewellery (including receivables secured against gold) increased 24.08% to Rs. 12,487 crore. Gross advances climbed 17.80% YoY to Rs. 25,099 crore. These growth numbers are a follow up of the south-based private sector bank’s solid FY24 performance aided by healthy deposit and gross advances growth of 21% and 18% on a YoY, respectively. In FY24, net interest income increased 11% YoY to Rs. 1,476 crore. Operating profit of Rs 780 crore was up 10% YoY. PAT of Rs. 567 crore improved 4% YoY. Gold loans, which are an integral part of the bank’s operations, increased 22% YoY in FY24. CRAR remained healthy at 24.47% with Tier 1 at 23.10%. The company continues to focus on improving its digital banking offerings to enhance its business and saw an uptick of 34.5% YoY in channel transactions in FY24. Positive on CSB Bank given the steady growth in its deposits and gross advances as evident by its business update, sustenance of the gold business and adequate liquidity.

Cummins India: Cummins India during 4QFY24, recorded 20% YoY growth in consolidated revenues. This was largely led by domestic revenue, which accounts for close to 70 percent of the company’s revenues, and grew by 38 percent. Domestic growth continues to be better, led by a strong demand from the industries. Demand from data centres, services, real estate, mining, marine, defence and a few other sectors have witnessed good demand. During the quarter, its EBITDA margins expanded by 615 basis points to 23.22%. While part of this is due to a one-off transaction of about Rs 60 crore, even adjusting for that, overall profitability has improved. It helped the company report a strong 54% YoY growth in net profits. The company does not expect a steep recovery from the international markets in the light of the geopolitical issues in its key markets. Some of its markets could take another 1-2 quarters before one could see a growth in demand. The domestic market will continue to grow, particularly in the light of the strong growth in industry capex, infrastructure spending, etc. Positive on Cummins India given the government's strong impetus on infrastructure creation.

Stocks Picker Articles

03 Jul 2024 04:54

*Stocks in News*



*KEC International:* Company gets new orders worth Rs 1,017 crore in its T&D and renewables businesses. (Positive)

*V2 Retail:* Company says Q1 standalone Revenue from Operations up 57% (YoY) to 4.14b rupees, Q1 same store sales growth of 37% (Positive)

*NLC INDIA:* Company has achieved 22.12% growth in lignite production during Q1 of FY 2024-25. (Positive)

*KCP:* Company have approved the proposal of railway siding project along with input material handling equipment and system & cement grinding hydraulic roller press at Andhra Pradesh (Positive)

*V-MART Retail:* Company says same store sales growth at 11% for Q1, Revenue from ops up 17% (YOY). (Positive)

*Primo Chemicals:* Company secures long-term coal linkages via 10-year fuel supply agreement with Northern Coalfields. (Positive)

*Moschip:* Company in pact with C-DAC and Socionext for making high performance computing processor AUM. (Positive)

*Avenue Supermarts:* Standalone revenue from ops at ₹13,712 cr (Agencies). (Positive)

*IEX:* Total electricity volume at 10,185 MU, up 24.7% YoY, up 18 percent. (Positive)

*Waaree Energies:* Company bags order to supply 900 MW of modules for Serentica Renewables in Rajasthan (Positive)

*RVNL:* Company declared lowest bidder for Rs 133 crore Central Railway project (Positive)

*Puravankara Ltd:* Company acquires 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore (Positive)

*Dynacons Systems:* Company won Rs 119 crore contract from the Central Bank of India for a private cloud infrastructure project. (Positive)

*HDFC Bank:* Bank may see inflows of up to $4 billion as MSCI weightage set to rise. (Positive)

*Persistent:* Company acquires Starfish Associates, Strengthening its Position in AI-powered Contact Center and Unified Communications (Positive)

*Dev Information:* Company have secured noteworthy orders cumulatively worth Rs 8 crore. (Positive)

*Hindustan Zinc:* Company’s mined metal production up 2% at 263 kt year-on-year in Q1FY25 (Neutral)

*ONGC:* Appoints Vivek Chandrakant Tongaonkar as the new Director (Finance) and CFO. (Neutral)

*Zomato:* Company unit to withdraw application for getting NBFC registration (Neutral)

*ONGC:* Company appoints Chandra Kant Tongaonkar as Director (Finance) and CFO, effective July 2. (Neutral)

*Piramal ENT:* Company approves raising Rs 180 cr via bonds (Neutral)

*Kfin Technologies:* Company says disinvestment of entire stake of 20.95% of fin tech products and solutions, deal for 65m rupees. (Neutral)

*GPT Infra projects:* Company board meeting on July 5 to consider raising of funds. (Neutral)

*Solara Active:* Company says TPG growth iv sf cut stake in company to 4.44% from 8.60%, cut stake via open market sale (Neutral)

*M&M Financial:* Company says Q1FY25 disbursement grew 5% (YoY), collection efficiency at 95% for June 2024. (Neutral)

*Britannia Industries:* Company appoints Urjit Patel as an independent director for 5 years. (Neutral)

*Bank of Maharashtra:* Bank Secures Rs 1793 Cr in Total Bids for Basel Iii Compliant Tier 2 Bonds. (Neutral)

*Capri Global:* Company appoints Tarun Aggarwal as the Group Chief Technology Officer. (Neutral)

*Force Motors:* Total sales down 2.9% at 2,553 units vs 2,628 units (YoY) (Neutral)

*MOIL:* Company registers quarterly sales growth of 14.5% year-on-year. (Neutral)

*Confidence Petro:* Company has acquired 99.99% of Punjab Petroleum Corporation Ltd.'s equity shares. (Neutral)

*Kotak Mahindra Bank:* Hindenburg partner said transactions were for itself. (Neutral)

*YesBank:* Gross advances rose 14.8% on a yearly basis to Rs 2.29 lakh crore in Q1FY25. (Neutral)

*GPT Infra:* Board of directors of GPT Infraprojects to consider fund-raising options on July 5. (Neutral)

Stocks Picker Articles

02 Jul 2024 05:22

Forthcoming Event

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

04th July: Lloyds Metals And Energy to consider Fund Raising

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

09 Jul 2024 05:22

Right Issue
Suraj Industries: Ex-Date: 10-Jul-24
Lesha Industries: Ex-Date: 12-Jul-24
Sharat Industries: Ex-Date: 12-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Srestha Finvest: 04-Jun-24; Close: 18-Jul-24
SEPC: 05-Jul-24; Close: 19-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
SAR Televenture: 15-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24
Inventure Growth & Securities: 15-Jul-24; Close: 13-Aug-24

Spin Off
Raymond: Ex-Date: 11-Jul-24

Stocks Picker Articles

09 Jul 2024 05:22

Forthcoming Event

09th July: RSSOFTWARE to consider Dividend; KDDL to consider Buyback; Cian Healthcare, Diamines & Chemicals, Kalpataru Projects International, SRG Housing Finance to consider Fund Raising

10th July: PECOS, STEELCITY to consider Dividend; Bajaj Healthcare, Indowind Energy, Power Grid Corporation of India to consider Fund Raising

11th July: TCS to consider Dividend; Diksat Transworld, Real Eco-Energy to consider Stock Split; Wealth First Portfolio Managers, Nupur Recyclers to consider Fund Raising

12th July: HCLTECH to consider Dividend; Indo Cotspin to consider Bonus issue; VIP Clothing to consider Fund Raising

13th July: BEPL to consider Dividend; Geojit Financial Services to consider Fund Raising

15th July: CRISIL, HATSUN to consider Dividend; HDFC Life Insurance Company to consider Fund Raising

19th July: Bigbloc Construction to consider Bonus issue; Aether Industries to consider Fund Raising

22nd July: COFORGE to consider Dividend

25th July: EMBASSY to consider Dividend

30th July: CASTROLIND to consider Dividend

Stocks Picker Articles

09 Jul 2024 04:51

*Fund Houses Recommendations*


Citi on *Affle:* Initiate Buy on Company, target price at Rs 1600/Sh (Positive)

Citi on *Emami:* Maintain Buy on Company, raise target price at Rs 900/Sh (Positive)

Bernstein on *Persistent:* Initiate Outperform on Company, target price at Rs 5920/Sh (Positive)

Bernstein on *KPIT Tech:* Initiate Outperform on Company, target price at Rs 2120/Sh (Positive)

UBS on *PI Ind:* Maintain Buy on Company, target price at Rs 4800/Sh (Positive)

UBS on *Navin Fluorine:* Maintain Buy on Company, target price at Rs 4250/Sh (Positive)

MOSL on *GAIL:* Maintain Buy on Company, target price at Rs 260/Sh (Positive)

MOSL on *ONGC:* Maintain Buy on Company, target price at Rs 330/Sh (Positive)

UBS on *Lal Pathlabs:* Maintain Buy on Company, raise target price at Rs 3500/Sh (Positive)

MS on *Phoenix Mills:* Maintain Overweight on Company, target price at Rs 3400/Sh (Positive)

Jefferies on *GMR Airports:* Maintain Buy on Company, target price at Rs 100/Sh (Positive)

MS on Life Insurance: *HDFC Life, SBI Life, ICICI Pru* Reported Individual APE Higher Than Estimates (Positive)

CLSA on *Gas companies:* Global LNG markets have seen a surge in prices. Asian spot LNG price up 11% MoM in June 2024. Domestic consumption was up 20% YoY in June, gas production up 7% YoY (Positive)

Morgan Stanley on NBFCs: Research tactical ideas on stocks. Positive on *PNB Housing and Aptus Value* (Positive)

BofA India Strategy: Q1 preview: Strong earnings on pickup in sales; B/s improvements; margins stable. Prefer *Financials and Industrials* (Positive)

MS on *Godrej CP:* Maintain Equal weight on Company, target price at Rs 1231/Sh (Neutral)

Jefferies on *Tech Mah:* Maintain Underperform on Company, target price at Rs 1065/Sh (Neutral)

Bernstein on *Coforge:* Initiate Market-perform on Company, target price at Rs 6080/Sh (Neutral)

Bernstein on *Tata Elxsi:* Initiate Underperform on Company, target price at Rs 6030/Sh (Neutral)

UBS on *Aarti Ind:* Maintain Sell on Company, target price at Rs 615/Sh (Neutral)

UBS on *Gujarat Fluoro:* Maintain Sell on Company, target price at Rs 3000/Sh (Neutral)

Citi on *Persistent:* Maintain Sell on Company, target price at Rs 3080/Sh (Neutral)

Stocks Picker Articles

08 Jul 2024 05:22

Stock in Action

Ujjivan Small Finance Bank Ltd.: The bank recently posted its Q1FY25 business update, whereby total deposits grew 3% QoQ and 22% YoY to Rs. 32,500 crore. CASA of Rs. 8,336 crore scaled up 27% YoY but was flat when compared with the prior quarter. CASA ratio expanded 100 bps in Q1FY25 from the prior-year quarter to 25.6%. As for the loan book, gross loan book was up 1% QoQ and 19% YoY to Rs. 30,091 crore. Secured loan book came in at 31.5% compared with 30.2% in the previous quarter and 27.1% in the year-ago quarter as other secured businesses continued to scale-up. Credit to Deposit ratio remained unchanged QoQ at 85.3% and contracted 180 bps YoY. Gross NPA improved slightly on a YoY basis to 2.3% from 2.4%. Collection Efficiency remained high at 98% in the quarter. Ujjivan has seen a steady rise in business volumes leading to improved profitability. Its gross loan book grew over 2x in last the 30 months with a focus on loan book diversification. Deposits over the last 30 months witnessed 2.2x growth, with CASA increasing 163%. Ujjivan’s asset quality and collections are among the industry best. Going forward, for FY24-25, the company seeks to improve its asset book quality with a balanced mix of secured versus unsecured loans, strengthen the deposit franchise with new products and channels, enhance high yielding products contribution such micro-mortgages, two wheeler finance, and leverage technology as a catalyst to drive growth. It expects gross loan book growth of ~20% and credit cost of ~1.7% in FY25. Deposit growth is anticipated in line with gross loan book growth. The bank targets NIM at ~9.0% and RoE at ~20% in FY25. Positive on Ujjivan Small Finance Bank given the steady growth in its deposits and gross advances, focus on improving asset quality and leveraging technology to drive business growth.

Maruti Suzuki India: Maruti Suzuki India reported outstanding financial performance in Q4FY24, compared to the same period last year, fuelled by a growing demand for newly launched high-value products and the benefits of operating leverage. Thanks to new SUV models, the company has secured a leadership position in the Rs 10-20 lakh segment, holding a market share of approximately 21 percent. It aims to further increase market share with upcoming launches in this segment. The Indian car industry has undergone a significant transformation over the past 2-3 years. Customers now prefer premium vehicles equipped with advanced features like sunroofs and cutting-edge technology. This shift is primarily driven by rising income levels, increased disposable incomes, and the evolving perception of status from owning just a car to owning a UV. Maruti, with its wide portfolio of these vehicles and a slew of new launches in the segment, is well-positioned to capture a significant growth in this market. The upcoming budget is expected to prioritise measures aimed at boosting consumption, including tax reforms, and focusing on economic growth and stability. Any measures, directly or indirectly related to enhancing consumption, are likely to positively impact Maruti's financials, given that cars are a significant consumer item. Positive on Maruti Suzuki India ltd. given its market leadership position in PV market and increasing market share in UV space.

Stocks Picker Articles

08 Jul 2024 05:17

Corporate Actions

Dividend

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

09-Jul-24
DEEPINDS: Final Dividend - Rs. - 2.44
JSWSTEEL: Final Dividend - Rs. - 7.30
ATISHAY: Final Dividend - Rs. - 1.00
GRINDWELL: Final Dividend - Rs. - 17.00
BAIDFIN: Final Dividend - Rs. - 0.10
POLYCAB: Dividend - Rs. - 30.00
INGERRAND: Final Dividend - Rs. - 20.00
JKCEMENT: Final Dividend - Rs. - 20.00
DCMSHRIRAM: Final Dividend - Rs. - 2.60
PERSISTENT: Final Dividend - Rs. - 10.00

10-Jul-24
MPHASIS: Final Dividend - Rs. - 55.00
WHEELS: Dividend - Rs. - 7.39
CROMPTON: Final Dividend - Rs. - 3.00

11-Jul-24
VTMLTD: Final Dividend - Rs. - 0.75
BHARATSE: Final Dividend - Rs. - 1.60
SKYIND: Final Dividend - Rs. - 1.00
SINCLAIR: Final Dividend - Rs. - 1.00
VIMTALABS: Final Dividend - Rs. - 2.00
ORIENTHOT: Dividend - Rs. - 0.50
CENTURYTEX: Dividend - Rs. - 5.00
ROUTE: Final Dividend - Rs. - 2.00

12-Jul-24
IOC: Final Dividend - Rs. - 7.00
PTL: Final Dividend - Rs. - 1.75
UJJIVANSFB: Final Dividend - Rs. - 1.50
BIMETAL: Final Dividend - Rs. - 12.50
JAYAGROGN: Dividend - Rs. - 7.50
DLINKINDIA: Final Dividend - Rs. - 13.00
INDUSFINL: Final Dividend - Rs. - 0.30
ONWARDTEC: Final Dividend - Rs. - 5.00
POLYCHEM: Final Dividend - Rs. - 30.00
NILKAMAL: Final Dividend - Rs. - 20.00
UTKARSHBNK: Final Dividend - Rs. - 0.50
PETRONET: Final Dividend - Rs. - 3.00
KABRAEXTRU: Final Dividend - Rs. - 3.50
TRANSCOR: Final Dividend - Rs. - 0.30
BSOFT: Final Dividend - Rs. - 4.00
20MICRONS: Final Dividend - Rs. - 1.25
MAHLOG: Final Dividend - Rs. - 2.50
MAHLIFE: Final Dividend - Rs. - 2.65
UNITDSPR: Final Dividend - Rs. - 5.00
IRMENERGY: Final Dividend - Rs. - 1.50
SUNPHARMA: Final Dividend - Rs. - 5.00
KIRLPNU: Final Dividend - Rs. - 4.00
BLUEDART: Final Dividend - Rs. - 25.00
ATUL: Dividend - Rs. - 20.00
THEMISMED: Final Dividend - Rs. - 0.50
JUBLFOOD: Final Dividend - Rs. - 1.20
NEULANDLAB: Final Dividend - Rs. - 14.00
SATINDLTD: Final Dividend - Rs. - 0.15
AUBANK: Final Dividend - Rs. - 1.00
ANANTRAJ: Final Dividend - Rs. - 0.73
WENDT: Final Dividend - Rs. - 20.00
AXISBANK: Final Dividend - Rs. - 1.00
PPLPHARMA: Final Dividend - Rs. - 0.11
SAFARI: Final Dividend - Rs. - 1.50


IPO
---

Buyback
Godawari Power and Ispat: 04-Jul-24; Close: 10-Jul-24
Bajaj Consumer Care: 05-Jul-24; Close: 11-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
Clara Industries: Bonus Issue 4:1; Ex-Date: 08-Jul-24
Alliance Integrated Metaliks: Bonus Issue 2:1; Ex-Date: 11-Jul-24
Alphalogic Techsys: Bonus Issue 14:48; Ex-Date: 12-Jul-24
Filtra Consultants: Bonus Issue 1:3; Ex-Date: 12-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
Bridge Securities: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Jul-24
PG Electroplast: 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
WPIL: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Jul-24
KPI Green Energy: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 18-Jul-24
Elecon Engineering: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 19-Jul-24
NHC Foods: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Jul-24
Cellecor Gadgets: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24

Right Issue
Suraj Industries: Ex-Date: 10-Jul-24
Lesha Industries: Ex-Date: 12-Jul-24
Sharat Industries: Ex-Date: 12-Jul-24
Gujarat Toolroom: 14-Jun-24; Close: 12-Jul-24
Spright Agro: 24-Jun-24; Close: 12-Jul-24
Srestha Finvest: 04-Jun-24; Close: 18-Jul-24
SEPC: 05-Jul-24; Close: 19-Jul-24
Bhandari Hosiery Exports: 08-Jul-24; Close: 22-Jul-24
SAR Televenture: 15-Jul-24; Close: 22-Jul-24
Mitcon Consultancy & Engineering: 28-Jun-24; Close: 26-Jul-24
Inventure Growth & Securities: 15-Jul-24; Close: 13-Aug-24

Spin Off
Raymond: Ex-Date: 11-Jul-24

Stocks Picker Articles

08 Jul 2024 04:03

*AU Small Bank:* Total Deposits: ₹97,704 (up 0.4% QoQ), Gross Loan Portfolio: ₹96,490 (down 3.4% QoQ) (Neutral)

*Tata Motors:* JLR'S wholesales in Q1 FY25 were 97,755 units, up 5% vs q1 FY24, Retail sales in q1 FY25 were 111,180 units, up 9% vs Q1 FY24. (Neutral)

*Abans Holdings:* company unit planning to raise up to 99.8m rupees via series a funding round. (Neutral)

*Genesys International:* Company approved further investments of about 111.3 ml rupees in unit (Neutral)

*Titan:* Company registered a growth of 9% (YOY) in Q1 FY25, jewellery domestic operations grew 8% (YOY) IN Q1 (Neutral)

*Coffee Day Enterprises:* Company reports total default of Rs 433.91 crore. (Negative)

*Apcotex Industries:* Taloja plant operations disrupted due to heavy rainfall. (Negative)

Stocks Picker Articles

05 Jul 2024 05:34

Corporate Actions

Dividend

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: 05-Jul-24; Close: 11-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
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
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
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

Stocks Picker Articles

05 Jul 2024 04:54

*Fund Houses Recommendations*


MOSL on *BEL:* Maintain Buy on Company, target price at Rs 360/Sh (Positive)

MOSL on *L&T:* Maintain Buy on Company, target price at Rs 4150/Sh (Positive)

GS on *L&T:* Maintain Buy on Company, raise target price at Rs 3700/Sh (Positive)

MOSL on *ABB:* Maintain Buy on Company, target price at Rs 9500/Sh (Positive)

CLSA on Financials: Met 47 investors over a recent, two-week UK/US roadshow, positive on *ICICI Bank* (Positive)

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

Macquarie on *HDFC Bank:* Seasonally weak quarter, all eyes on margins (Neutral)

IIFL on *HDFC Bank:* Weaker than expected loan and deposit trends (Neutral)

Nomura on *HDFC Bank:* Maintain Neutral on Bank, target price at Rs 1660/Sh (Neutral)

Jefferies on *HDFC Bank:* Maintain Neutral on Bank, target price at Rs 1880/Sh (Neutral)

MS on *HDFC Bank:* Maintain Overweight on Bank, target price at Rs 1800/Sh (Neutral)

MS on *RBL Bank:* Maintain Underweight on Bank, target price at Rs 250/Sh (Neutral)

Antique on *Ramco Cement:* Downgrade to Hold on Company, cut target price at Rs 840/Sh (Negative)

Stocks Picker Articles

04 Jul 2024 05:23

Forthcoming Event

04th July: Lloyds Metals And Energy to consider Fund Raising

05th July: Bank of Baroda, GPT Infraprojects, Naksh Precious Metals, Spandana Sphoorty Financial to consider Fund Raising

06th July: ABIRAFN to consider Dividend; Datasoft Application, Macro International, Sadbhav Engineering 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

04 Jul 2024 05:06

Stock in Action

Federal Bank Ltd.: Going by the bank’s Q1FY25 business update, it witnessed a solid growth of 19.6% YoY in total deposits to Rs. 2,66,082 crore. Of this amount, customer deposits of Rs. 2,51,991 crore rose 19.8% YoY, certificates of deposit of Rs. 10,702 crore increased 16.6% and interbank deposits of Rs. 3,389 crore climbed 17.1%. CASA improved 9.9% YoY to Rs 77,901 crore. CASA ratio, however, declined to 29.28% as of June 30, 2024, from 31.85% recorded a year ago. Gross advances in the quarter increased 20.1% YoY to Rs. 2,24,139 crore. As per an internal classification, retail credit book grew 25% and wholesale credit book 14%. Retail to wholesale ratio was 56:44, respectively, as of the June quarter end. These numbers underscore the company’s ability to deliver consistent growth and sustained profitability going forward. Importantly, in FY24, Federal bank’s asset quality continued to remain robust across all segments. On a YoY basis, GNPA and NNPA contracted 23 bps and 9 bps to 2.13% and 0.60%, respectively. Fresh slippages dropped to Rs. 352 crore in Q4FY24 from Rs. 436 crore in Q4FY23. ROA and ROE came in at 2.4% and 13.5%, respectively, in FY24. Capital Adequacy stood at 23.5%. Further, management targets branch expansion at 5-7% in FY25 and remains quite confident on its outlook for the year on steady demand across business segments. Positive on Federal Bank given the solid growth in its deposits and gross advances as evident by its recent business update, improving asset quality and focus on expanding its outreach.

PVR Inox: Despite the softness in the last couple of quarters, PVR Inox may see improvement in FY25 on the back of restructuring and the strong content lineup. PVR Inox has formed a JV with QSR chain Deyani International to develop and operate food courts in malls. PVR Inox's F&B revenue has grown at a CAGR of 18% over FY19-24 to Rs 1,958 crore. Devayani International, a franchise of KFC, Pizzahut, and Costa Coffee, has seen its revenue growing at a CAGR of 22% in the same period to Rs 3,556 crore. PVR Inox's return to quarterly profitability on the back of healthy occupancy appears to be further pushed back and will impact FY25 visibility. The management has guided to an annual EBITDA level synergies of Rs 225 crore over 12-24 months in the core exhibition business. Cost control with debt reduction is part of the company's plan along with a gradual shift to a low-capex model in the coming years. In FY24, the company closed around 85 underperforming screens. It aims to add 120 new screens on a gross basis and will close 70 screens. Customer acquisition and retention initiatives are continuing and the passport programme has been seeing a good response. Positive on PVR Inox as the company is focusing on cost discipline, restructuring and diversification to adjacencies.

Stocks Picker Articles

04 Jul 2024 04:44

*Stocks in News*



*GE T&D India:* Company has received of order from Grid Solutions SAS, France, Broad consideration or size of the orders 64 million Euros. (Positive)

*L&T FH:* Retail disbursements for Q1FY25 is estimated at Rs 14,830 crores, a growth of 33% on a Y-o-Y basis. (Positive)

*Suryoday Small Finance:* The disbursements in Q1 FY25 stood at around Rs. 1,740 Crores, a growth of 46% on a Y-o-Y basis (Positive)

*Brigade Enterprises:* Company signs joint development agreement for 1.2 million square foot residential project in Bengaluru. (Positive)

*Taneja Aerospace:* Company gets order worth 144.8m rupees (Positive)

*NHPC:* Jakson Green signs first power purchase agreement with NHPC for 400-megawatt solar project in Rajasthan. (Positive)

*Marico:* Company partners with Kaya to handle sales of its science-based personal care products. (Positive)

*Coal India:* Coal production from captive and commercial coal growth at 35% in first quarter of FY25: Government (Positive)

*Star Health:* Company said that set a target to double its gross written premium to about ₹30,000 crore over the next four years (Positive)

*Bajaj Finance:* AUM Up 31% At ₹3.54 Lk Cr Vs ₹2.70 Lk Cr (YoY). (Positive)

*HUDCO:* India Likely To Hike Rural Housing Subsidies To Over Usd 6.5b For 2024/25, From Nearly Usd 4b In 2023/24: Media sources (Positive)

*Orient Cement:* Ultratech Cement in advanced stages of acquisition (Positive)

*Yatharth Hospitals:* ICICI PRUDENTIAL bought 20lk shares at Rs 405.00 per share (Positive)

*Indiabulls Real Estate:* Changes name to EquinoxIndia Developments effective July 8 following approvals from stock exchanges (Neutral)

*ITD Cementation:* Promoter, Italian Thai Development Public Co, exploring potential divestment of its investment in the company. (Neutral)

*Cochin Shipyard:* Government appoints Jose VJ as Director of Finance of Company for 3 years (Neutral)

*Asian Paints:* Company to subscribe to additional 4.79 crore shares of unit Asian Paints International for approximately Rs 200 crore. (Neutral)

*Aditya vision:* Company says sub-division 1 share into 10 shares (Neutral)

*Vedanta:* Company says mined metal production in q1 up 2% YoY, aluminum production up 3% YoY in Q1, oil & gas gross production down 17% YoY in Q1. (Neutral)

*Cello World:* Company to raise up to Rs 730 cr via QIP, indicative price ₹852/sh: Media sources. (Neutral)

*Larsen & Toubro:* Fitch Ratings said it has affirmed a 'BBB+' rating with a stable outlook on Larsen & Toubro (Neutral)

*Dharmaj Crop:* Elara India sold 2 lakh shares at Rs 305.24/share (Neutral)

*Tata Steel:* NCLT Pronounced The Order Approving And Sanctioning The Scheme Of Amalgamation Of Co And Angul Energy Limited. (Neutral)

*HDFC Bank:* MUFG's Negotiations For A Minority Stake In HDFC Bank’s Consumer Lending Unit Are Stalling. (Neutral)

*Bandhan Bank:* Loans & Advances Up 0.7% QoQ & Up 21.8%. Total Deposits Down 1.5% QoQ & Up 22.8% YoY (Neutral)

*Jaiprakash Associates:* Lenders reject debt-ridden group's offer for a higher upfront payment and sale of its cement assets. (Negative)

*Aavas Financier:* Promoters Kedaara, Partners Group exploring full exit (Negative)

Stocks Picker Articles

03 Jul 2024 05:15

Corporate Actions

Vraj Iron and Steel is set to make their Dalal Street debut on Wednesday, July 3. Issue price is fixed at Rs 207 per share.

Central Depository Services (India) has recommended the issuance of Bonus Shares in the ratio of 1:1 i.e. 1 new Equity Share for every 1 existing Equity Share o, subject to the approval of the Shareholders and other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as required.

Dividend

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
eClerx Services: Ex-Date: 04-Jul-24
eClerx Services: 09-Jul-24; Close: 15-Jul-24

Bonus
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

Stocks Picker Articles

03 Jul 2024 04:54

*Fund Houses Recommendations*


CLSA on *ICICI Lombard:* Upgrade to Outperform on Company, raise target price at Rs 2000/Sh (Positive)

Bernstein on *PFC:* Initiate Outperform on Company, target price at Rs 620/Sh (Positive)

Bernstein on *REC:* Initiate Outperform on Company, target price at Rs 653/Sh (Positive)

UBS on *HDFC Bank:* Maintain Buy on Bank, target price at Rs 1900/Sh (Positive)

Jefferies on *HDFC Bank:* Maintain Buy on Bank, target price at Rs 1880/Sh (Positive)

Antique on *Patanjali Foods:* Maintain Buy on Company, target price at Rs 2144/Sh (Positive)

MOSL on *Emami:* Maintain Buy on Company, raise target price at Rs 850/Sh (Positive)

MS on *DMart:* Maintain Overweight on Company, target price at Rs 5123/Sh (Neutral)

Citi on *M&M Fin:* Maintain Neutral on Company, target price at Rs 310/Sh (Neutral)

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

CLSA *India Strategy:* Nifty outperforms EM and AxJ and is now the 2nd most expensive market in the world (Neutral)

Stocks Picker Articles

02 Jul 2024 05:22

Corporate Actions

Allied Blenders and Distillers are set to make their Dalal Street debut on July 02. Issue price is fixed at Rs 281 per share.

Sakuma Exports received approval from the board for the issuance of 4 bonus shares for every 1 equity share held.

Tara Chand InfraLogistic Solutions considered the proposal sub-division/split of equity shares having face value of Rs.10/- each be sub-divided into 5 Equity Shares having face value of Rs.2/- each subject to the approval of the shareholders of the Company.

Sprayking approved issue of Bonus Shares in the ratio of 1:1 i.e. 1 new Equity Shares for every 1 existing Equity Shares held by the shareholders, subject to the approval of shareholders through Postal Ballot.

Dividend

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

Stocks Picker Articles

02 Jul 2024 04:47

Stock in Action

Coforge Ltd: Coforge has had a remarkable turnaround in fortunes under the current CEO. The US$ revenue CAGR rose to 15.1% in FY2017-24 from a paltry 4.9% in FY2012-17. Company has gained wallet share with existing clients and increased heft in large deals. Coforge’s culture prioritizes focus, ambition and strong execution. Company has taken steps to expand its presence in existing verticals and geos, and seed its presence in newer segments to enable scaling up to US$2 bn revenue and beyond. Coforge has a good set of top accounts, especially in BFS that have the potential to be scaled up further. It has a good mix of services that caters to both run and change budgets of clients. The company has built muscle in new technologies in the areas of cloud, data, analytics, AI, digital integration and automation as well as in industry specific offerings such as financial crime, risk and compliance in BFS and core platforms such as Duck Creek in insurance. Positive on Coforge ltd. as the IT sector is expected to perform well in 2HFY25.

REC Ltd.: REC, a ‘Maharatna’ company and a strategic player in the Indian power, infrastructure and logistics sectors, continued its growth trajectory in Q1FY24-25 and posted strong operational performance as per its recently released business update. The company recorded loan sanctions of Rs. 1,12,747 crore in Q1FY24-25, of which Renewable Energy Sanctions were Rs. 39,655 crore. While loan sanctions grew 24.17% YoY, Renewable Energy Sanctions rose 58.72%. Loan disbursements came in at Rs. 43,652 crore in the quarter, implying YoY growth of 27.89%. Of the Rs. 43,652 crore, Renewable Energy Disbursements were Rs. 5,351 crore, more than doubling from Q1FY23-24. This comes after REC recorded highest ever yearly sanctions and disbursements of Rs.3,58,816 crores and Rs. 1,61,462 crores, respectively, in FY23-24. Despite having a large loan book, which rose 17% YoY in FY24, the company saw an improvement in its asset quality over the last 9 quarters as it has not seen any new NPAs, which is encouraging. Net credit impaired assets in FY23-24 was 0.86% compared with 1.01% a year ago. Capital adequacy ratio was 25.82% with Tier–I at 23.32%. REC enjoys long-term international ratings of Baa3 (Stable) and BBB- (Stable) from Moody’s and Fitch Ratings, respectively, and long-term domestic ratings of AAA by both CARE Ratings and CRISIL, allowing it access to the debt market at favorable rates. In FY23-24, REC’s net interest income increased 18% YoY to Rs. 16,167 crores. Net profit Rs. 14,019 crores rose 27% YoY. Positive on REC Ltd. given its steady performance over the past few quarters on solid growth in loan sanctions and disbursements, healthy balance sheet position and importantly, the Govt. of India’s push towards renewable energy.