Stocks Picker Articles

25 Jul 2024 04:15

*SBI:* Bank signs non-binding MoU with FCDO to collectively invest matched contributions of Rs 4,052 crore equivalent over pre-agreed timeline. (Neutral)

*Ircon:* Company Anish infracon initiated claims against co in arbitral tribunal, quantum of claims 1.13b Rs. (Neutral)

*Heubach Colorants:* Net profit at Rs 5.2 cr vs Rs 16 cr, Revenue at Rs 170 cr vs Rs 210 cr (YoY) (Negative)

*VST Ind:* RK Damani sold 2.26% (3.63lk shares) stake worth Rs 150cr. (Negative)

Stocks Picker Articles

24 Jul 2024 04:50

Stock in Action

NTPC Ltd.: NTPC Ltd., one of India’s leading power-generating companies, reported a 7.6% YoY rise in Q4FY24 revenue from operations on a consolidated basis to Rs. 47622.06 crore, driven by higher demand for power generation. PAT of Rs. 6490.05 crore grew 33.2% YoY. 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 Mar, 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. In the FY25 Union Budget presented on 23rd July, 2024, Finance Minister Nirmala Sitharaman announced NTPC and Bharat Heavy Electricals (BHEL) to form a joint venture to set up a 800 MW Ultra Super Critical Thermal Power Plant. The government will provide the necessary fiscal support for this. At present, NTPC 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. 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.

Bharat Dynamics: The government, aiming at indigenous manufacturing and self-sufficiency, has been bolstering the defence sector through policy reforms and an annual increase in capital expenditure. The 'Make-in-India' initiative has led to a remarkable defence production success story, evidenced by record-breaking defence exports that reached Rs 21,083 crore in FY24, marking a 32% growth from the previous fiscal year. Bharat Dynamics, is a leading ammunition and missile manufacturer, has seen its stock price soar by more than 80% in the last two months. The company has reported moderate revenue growth in the fourth quarter. Company's focus on efficient implementation has facilitated the execution of growing orders, leading to elevated cash flows and earnings. Company's success is underscored by its substantial order book, totaling Rs 19,434 crore, as of March 31, 2024, with export orders amounting to Rs 2,420 crore. This backlog, equivalent to approximately 8.2x the FY24 revenue, serves as a robust platform for future expansion. The last two years have been impacted by the ongoing geopolitical tensions in Europe and the Middle East, but performance is likely to improve from FY25 onwards. The company has secured new orders worth Rs 1,793 crore in FY24, further strengthening its market position. Additionally, company maintains a strong pipeline of orders amounting to approximately Rs 20,000 crore, both domestically and internationally, over the next 2-3 years. Positive on Bharat Dynamics given the robust order book, promising revenue visibility, and continuing rise in scale and profitability.

Stocks Picker Articles

24 Jul 2024 04:30

*Stocks in News*



*Huhtamaki:* Net profit at Rs 38.5 cr vs Rs 14.5 cr, Revenue at Rs 640 cr vs Rs 620 cr (YoY) (Positive)

*Thyrocare:* Net profit at Rs 23.94 cr vs Rs 17.25 cr, Revenue at Rs 156.9 cr vs Rs 135 cr (YoY) (Positive)

*DCM Shriram:* Net profit at Rs 100 cr vs Rs 56.6 cr, Revenue at Rs 3070 cr vs Rs 2940 cr (YoY) (Positive)

*Parag Milk:* Net profit up 27.6% at Rs 27.3 cr vs Rs 21.4 cr, Revenue up 1.1% at Rs 757.9 cr vs Rs 749.6 cr (YoY) (Positive)

*Shilpa Medicare:* Company unit's manufacturing facility in Karnataka gets GMP certification from COFEPRIS- Mexico. (Positive)

*IOL Chemicals:* EDQM issues certificate of suitability for IOL Chemicals' Valsartan tablets. (Positive)

*Titagarh Rail Systems:* Company begins export of traction converters with first shipment to Italy (Positive)

*Mahindra Logistics:* Company expects strong sequential growth and improved operating performance in the second half of FY25. (Positive)

*Tata Elxsi:* Nidec Corporation and company have signed a memorandum of understanding to enhance software development capability. (Positive)

*Krsnaa Diagnostics:* Company gets signed agreement from Madhya Pradesh government for setting up & operating MRI scan machines at 5 government hospitals (Positive)

*Bajel Projects:* Company gets Rs 586 crore order from Power Grid for a period of 23 months. (Positive)

*Infosys:* Company in pact with UVC Partners to co-create next-generation solutions using AI and DeepTech. (Positive)

*SSWL:* Company exploring various avenues to foray into EV segment. (Positive)

*IRCON:* Company says that dispute matter with HCC closed in arbitration (Positive)

*Dr Reddys:* Company to consider stock split, including for ADRs, on July 27. (Positive)

*JTL Industries:* Company approves allotment of 1.42 crore shares to eligible QIBs at issue price of Rs 211/share aggregating to Rs 299 crore. (Positive)

*Mahindra Logistics:* Company approves re-appointment of Rampraveen Swaminathan as MD & CEO for 5 years. (Positive)

*HUL:* Net profit at Rs 2538 cr vs Rs 2472 cr, Revenue at Rs 15,339 cr vs Rs 15,148 cr (YoY) (Neutral)

*Bajaj Finance:* Net profit at Rs 3912 cr vs Rs 3437 cr, NII at Rs 8365 cr vs Rs 6717 cr (YoY) (Neutral)

*Torrent Pharma:* Net profit at Rs 457 cr vs Rs 378 cr, Revenue at Rs 2859 cr vs Rs 2591 cr (YoY) (Neutral)

*Schaeffler India:* Net profit at Rs 245.4 cr vs Rs 237.2 cr, Revenue at Rs 2106.8 cr vs Rs 1829.1 cr (YoY) (Neutral)

*United Spirits:* Net profit at Rs 299 cr vs Rs 238 cr, Revenue at Rs 5830 cr vs Rs 5352 cr (YoY) (Neutral)

*ICICI Prudential:* Net profit at Rs 2250 cr vs Rs 2080 cr, Net Premium Income at Rs 7870 cr vs Rs 7020 cr (YoY) (Neutral)

*MIC Electronics:* Net profit at Rs 2 cr vs Rs 1.2 cr, Revenue at Rs 10.70 cr vs Rs 7 cr (YoY) (Neutral)

*Tata Consumer:* Company approved rights issue size of 36.6m shares worth 29.98 Billion Rs, company approved rights issue price at 818 Rs per share (Neutral)

*KIMS:* Comapny has received approval for the merger of its subsidiary, Rajyalakshmi Healthcare Private Limited (Neutral)

*South Indian Bank:* Board meeting on 30th July to consider fund raising (Neutral)

*Tide Water:* Company decides to change the name to Veedol Corporation (Neutral)

*Vedanta:* Board meeting on 26th July to consider interim dividend (Neutral)

*KEC International:* Company to consider fund raising on July 26 via equity/debt (Neutral)

*Jubilant Ingrevia:* Company issued commercial papers worth 1b Rupees (Neutral)

*Apollo Micro:* Company to issue warrants worth 2.65b Rupees (Neutral)

*Tata Steel:* Board Meet on 31st July to consider Q1FY25 earnings (Neutral)

*Adani Power:* Company acquires remaining stake in Mirzapur Thermal Energy from Adani Infra. (Neutral)

*Welspun Specialty:* Net profit at Rs 1.95 cr vs Rs 11.10 cr, Revenue at Rs 162 cr vs Rs 160 cr (YoY) (Negative)

*MIC Electronics:* Kalidindi Satyanarayana Raju resigns as CEO of MIC Electronics with effect from July 10. (Negative)

Stocks Picker Articles

23 Jul 2024 04:50

Stock in Action

NBCC (India) Ltd.: NBCC (India) Limited, a Navaratna Enterprise of the Government of India, has emerged as a leader in the construction sector. Its present areas of operation consist of Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC) and Real Estate Development. Through PMC, it executes landmark new projects in diverse sectors including redevelopment projects for the Government. The EPC serves a niche market and constructing Chimneys, Cooling Towers for the Power Sector while the Real Estate Development deals with developing a wide range of residential and commercial assets for governments and the public. Recently, NBCC entered into a new business area called Redevelopment of Government Properties under its PMC segment and successfully completed the first project in this area, the Redevelopment of New Moti Bagh GPRA Complex in Delhi. The company also has overseas operations and to further expand its prospects overseas, it has entered into MoUs with Construction Industry Development Board Holdings, Malaysia and Form Yapi Malzemleri Insaat Samayi Ticaret Ltd., Turkey. In FY24, net income from operations grew 17.5% YoY to Rs. 10, 43,263.67 lakh. PAT of Rs. 41,437.70 lakh increased 49.1% YoY. Its order book at a consolidated level stood at Rs. 649000 crores as of the March quarter end. Management expects doing at least Rs.22,000 crores to 25,000 crores business in FY25. Going forward, the company is likely to benefit from the government’s PM Awas Yojana (PMAY) scheme through which the central government provides pucca houses with basic amenities to all eligible urban beneficiaries, including slum dwellers around the country. The outlay for the PMAY was increased to Rs. 80,670.75 crore in the interim Union Budget 2024. Positive on NBCC Ltd. given its healthy FY24 performance, solid order book and the government’s focus on providing affordable housing nationwide through the PMAY scheme.

Infosys ltd.: Infosys reported stellar 1QFY25 performance and it was above the consensus estimates. The company reported revenue of $4714 million in Q1FY25 showed a sequential growth of 3.3% in reported and 3.6% percent in constant currency. The YoY growth in constant currency was 2.5%. Large deal ramp-up had a big role to play as well as the BFSI demand revival in North America that seems to have positively impacted mortgages, capital markets, cards, and payments. After several quarters, Infosys had a volume growth, realisation uptick, and growth in the BFSI. While a large-scale revival of discretionary spending is still awaited, the BFSI uptick in North America is a positive commentary. Seen in this light, the guidance uptick from 1-3% CC growth for FY25 to 3-4% doesn’t appear exciting as it includes the recent acquisition of in-tech and puts the ask rate at a cumulative quarterly growth rate between 1% and 1.5% in the coming quarters. Infosys bagged 34 large deals in the quarter and alluded to strong interest from clients in Gen AI although it did not quantify the deal value or revenue coming from the same. Positive on Infosys ltd. given the decent set of 1QFY25 performance and expectation on recovery of discretionary spending in Advanced economies.

Stocks Picker Articles

23 Jul 2024 04:49

*Stocks in News*



*Pondy Oxides:* Net profit at Rs 13.0 cr vs Rs 4.0 cr, Revenue at Rs 445 cr vs Rs 326 cr (YoY) (Positive)

*Jana SFB:* Net profit at Rs 171 cr vs Rs 90 cr, NII at Rs 610 cr vs Rs 462 cr (YoY) (Positive)

*Cyient DLM:* Net profit at Rs 10.5 cr vs Rs 5.3 cr, Revenue at Rs 257 cr vs Rs 217 cr (YoY) (Positive)

*Cochin Minerals:* Net profit at Rs 5.9 cr vs Rs 2.2 cr, Revenue at Rs 88 cr vs Rs 66 cr (YoY) (Positive)

*Maharashtra Scooters:* Net profit at Rs 8.3 cr vs Rs 0.5 cr, Revenue at Rs 7.7 cr vs Rs 5.3 cr (YoY) (Positive)

*Suzlon:* Net profit at Rs 302 cr vs Rs 101 cr, Revenue at Rs 2022 cr vs Rs 1351 cr (YoY) (Positive)

*RailTel:* Company bags order worth ₹186.81 crore from Ministry Of Railways (Positive)

*SRM Contractors:* Company has signed the agreement for EPC Project of NHAI for aggregate quoted price of Rs 100.45 cr (Positive)

*Gensol Engineering:* Company becomes preferred bidder for 116 MW solar projects with EPC revenue of Rs 600 crore in Gujarat (Positive)

*Can Fin homes:* SBI Life buys 10 lakh shares of company at Rs. 827.94/share. (Positive)

*Power Stocks:* Renewable energy industry officials calls for rationalization of GST for solar equipment. (Positive)

*Fineotex Chemical:* Company raises Rs 342.55 crore through issue of equity shares and warrants on preferential basis. (Positive)

*PowerMech:* Uttarakhand Government revises tender offer for hospital construction to Rs 594 crore from Rs 362 crore (Positive)

*Oil India:* Company in pact with Norway's Dolphin Drilling for hiring Dolphin's drilling unit called Blackford. (Positive)

*Wardwizard:* Company strengthens global footprint with focused Export strategy. (Positive)

*Crompton Greaves:* Company says net debt positive after paring down acquisition related debt (Positive)

*Federal Bank:* RBI approves appointment of KVS Manian as MD and CEO of Bank. (Positive)

*GE Power:* Company’s JV with NTPC receives Rs 348 cr for renovation and modernisation of steam turbines. (Positive)

*Mahindra Logistics:* Company approves re-appointment of Rampraveen Swaminathan as MD & CEO for 5 years. (Positive)

*Lemon Tree Hotels:* Company signs licensing pacts for 57-room hotel in Goa and 44-room hotel in Punjab. (Positive)

*KPI Green Energy:* Company receives letter of award from MAHAGENCO for development of a 100-megawatt solar power project. (Positive)

*Greenlam Industries:* Net profit at Rs 19.9 cr vs Rs 33.0 cr, Revenue at Rs 604.7 cr vs Rs 515.2 cr (YoY) (Neutral)

*Kiran Vyapar:* Net profit at Rs 34.7 cr vs Rs 24.7 cr, Revenue at Rs 28.6 cr vs Rs 27.3 cr (YoY) (Neutral)

*Allied Blenders:* Net Loss at Rs 2.4 cr vs Rs 1.28 cr, Revenue at Rs 767.6 cr vs Rs 770.9 cr (YoY) (Neutral)

*Cigniti Technologies:* Net Profit at Rs 10.5 cr vs Rs 27.1 cr, Revenue at Rs 470 cr vs Rs 456 cr (QoQ) (Neutral)

*Zensar Tech:* Net profit at Rs 160 cr vs Rs 173 cr, Revenue at Rs 1290 cr vs Rs 1230 cr (YoY) (Neutral)

*Pfizer:* Board Meeting on July 29 to Consider Q1 Results (Neutral)

*SBIN:* Board Meeting on August 3 to Consider Q1 Results (Neutral)

*Tata Power:* Board Meeting on August 6 to Consider Q1 Results (Neutral)

*Vedanta:* Company regains Control of Konkola Copper Mines in Zambia (Neutral)

*TRENT:* Westside launches its 230th Store in Lucknow (Neutral)

*Jet Airways:* NCLT Likely To Next Hear Jet Airways Case Today (Neutral)

*Tata Consumer:* Board Meet to consider Rights Issue Today (Neutral)

*Spice Jet:* Board Meet to consider Raising Fresh Capital via QIP Today (Neutral)

*Apollo Micro:* Board Meet to consider fund raising via Equity Shares or Convertible Securities including warrants on preferential basis Today (Neutral)

*Reliance Ind:* Reliance New Energy acquires balance 12.7% stake in Reliance Lithium for €3.7 million. (Neutral)

*SAIL:* Board Meeting to be held on 25-Jul-2024 to consider Fund raising. (Neutral)

*MRPL:* Net profit at Rs 73.2 cr vs Rs 1014.8 cr, Revenue at Rs 27,289.4 cr vs Rs 24,825.1 cr (YoY) (Negative)

Stocks Picker Articles

22 Jul 2024 05:27

Forthcoming Event

22nd July: COFORGE, SHREMINVIT to consider Dividend; Bigbloc Construction to consider Bonus issue; IEL, Pradhin to consider Fund Raising

23rd July: SRF to consider Dividend & Fund Raising; Apollo Micro Systems, Spice Islands Industries, Vistar Amar to consider Fund Raising; Tata Consumer Products Ltd. to consider Right Issue

24th July: TIPSINDLTD to consider Dividend; Ladderup Finance, Welspun Living to consider Buyback; Dish TV India, Iris Clothings, Marine Electricals (India), Sona BLW Precision Forgings, The Federal Bank to consider Fund Raising; Bikaji Foods International to consider Scheme of Arrangement

25th July: EMBASSY, LTFOODS, SHAREINDIA, STARHFL to consider Dividend; VST Industries to consider Bonus issue; Phoenix Township, Paisalo Digital to consider Fund Raising

26th July: ACCELYA, NUVAMA, SBC to consider Dividend; City Union Bank, Equitas Small Finance Bank, Shriram Finance to consider Fund Raising; Hazoor Multi Projects to consider Stock Split

27th July: PREMCO to consider Dividend

29th July: OMAXAUTO to consider Dividend; Sonalis Consumer Products to consider Fund Raising

30th July: CASTROLIND to consider Dividend

31st July: IFL Enterprises to consider Dividend & Bonus issue

01st August: GESHIP, VAIBHAVGBL to consider Dividend

02nd August: CAMS, MAFATIND to consider Dividend; Contil India to consider Stock Split

03rd August: Sarda Energy & Minerals to consider Fund Raising

Stocks Picker Articles

22 Jul 2024 04:53

Bulk Deal & Insider Trade Update

Bulk Deals
---

Insider Trade
*Acquisition*
* Sobha Limited: Promoter Group, Acquisition 6859007 shares
* Thomas Scott (India) Limited: Vandana Bang, Promoter Group, Acquisition 200000 shares on 16-Jul-24

*Disposal*
* Himalaya Food International Ltd: Promoter Group, Disposal 60030 shares
* Thomas Scott (India) Limited: Vandana Bang, Promoter Group, Disposal 200000 shares on 16-Jul-24
* Veerkrupa Jewellers Ltd: Chirag Arvind Shah, Promoter & Director, Disposal 11155600 shares on 03-Jul-24
* Svs Ventures Ltd: SHASHIKANT SHARMA, Promoter, Disposal 2370000 shares on 18-Jul-24

*Pledge*
* Ramco Industries Ltd.: MR.P.R.VENKETRAMA RAJA, Promoter, Pledge 825000 shares on 18-Jul-24

Dividend Update
*Bemco Hydraulics Ltd.: Final Dividend Rs. 2.00; Ex Date: 22-Jul-2024
*Carborundum Universal Ltd.: Final Dividend Rs. 2.50; Ex Date: 22-Jul-2024
*Chembond Chemicals Ltd.: Final Dividend Rs. 3.50; Ex Date: 22-Jul-2024
*DHP India Ltd.: Final Dividend Rs. 4.00; Ex Date: 22-Jul-2024
*Divgi Torqtransfer Systems Ltd.: Final Dividend Rs. 2.60; Ex Date: 22-Jul-2024
*Exide Industries Ltd.: Final Dividend Rs. 2.00; Ex Date: 22-Jul-2024
*Happy Forgings Ltd.: Final Dividend Rs. 4.00; Ex Date: 22-Jul-2024
*Indian Metals & Ferro Alloys Ltd.: Final Dividend Rs. 7.50; Ex Date: 22-Jul-2024
*Swelect Energy Systems Ltd.: Special Dividend Rs. 1.00; Ex Date: 22-Jul-2024
*Swelect Energy Systems Ltd.: Final Dividend Rs. 3.00; Ex Date: 22-Jul-2024
*Taparia Tools Ltd.: Final Dividend Rs. 20.00; Ex Date: 22-Jul-2024
*Voltamp Transformers Ltd.: Final Dividend Rs. 90.00; Ex Date: 22-Jul-2024
*Xpro India Ltd.: Dividend Rs. 2.00; Ex Date: 22-Jul-2024

*Result today*
Supreme Industries Ltd.
Mangalore Refinery And Petrochemicals Ltd.
Coforge Ltd.
ZF Commercial Vehicle Control Systems India Ltd.
Zensar Technologies Ltd.
Maharashtra Scooters Ltd.
Jana Small Finance Bank Ltd.
Dodla Dairy Ltd
Cyient DLM Ltd.
Mahindra Logistics Ltd.
Wendt (India) Ltd.
Nitin Spinners Ltd.
Pondy Oxides & Chemicals Ltd.
Rane Brake Lining Ltd.
Cochin Minerals & Rutile Ltd.
Digicontent Ltd.

Stocks Picker Articles

22 Jul 2024 04:50

*Vedanta:* Company becomes preferred bidder for Gollarahatti - Mallenahalli Nickel Chromium and PGE Block. (Positive)

*KPI Green Energy:* Company receives letter of award from MAHAGENCO for development of a 100-megawatt solar power project. (Positive)

*HDFC Bank:* Board gives in-principle nod to initiate the process of listing HDBFS through a potential IPO. (Positive)

*HDFC Bank:* Net profit at Rs 16,175 crore versus poll of Rs 15,693 crore, NII at Rs 29,837 crore versus poll of Rs 29,583 crore (Neutral)

*Kotak Bank:* Net profit at Rs 6250 crore versus poll of Rs 4004 crore, NII at Rs 6842 crore versus poll of Rs 7067 crore (Neutral)

*Wipro:* Net profit at Rs 3037 cr vs Rs 2858 cr, Revenue at Rs 21,964 cr vs Rs 22,208 cr (YoY) (Neutral)

*JSW Steel:* Net profit at Rs 867 cr vs Rs 2428 cr, Revenue at Rs 42,943 cr vs Rs 42,213 cr (YoY). (Neutral)

*Indian Hotels:* Net profit at Rs 248.4 cr vs Rs 222.4 cr, Revenue at Rs 1550.2 cr vs Rs 1466.4 cr (YoY) (Neutral)

*CreditAccess Grameen:* Net profit at Rs 398 cr vs Rs 348 cr, Revenue at Rs 1512 cr vs Rs 1170 cr (YoY) (Neutral)

*Ksolves India:* Net profit at Rs 8.95 cr vs Rs 7.60 cr, Revenue at Rs 31.6 cr vs Rs 23.8 cr (YoY) (Neutral)

*Reliance Ind:* Net profit at Rs 15,140 cr vs Rs 16,000 cr, Revenue at Rs 2,36,000 cr vs Rs 2,11,000 cr (YoY) (Neutral)

*Route Mobile:* Net profit at Rs 78.5 cr vs Rs 92.4 cr, Revenue at Rs 1100 cr vs Rs 967 cr (YoY) (Neutral)

*Motisons:* Net profit at Rs 8.5 cr vs Rs 7.4 cr, Revenue at Rs 89 cr vs Rs 87 cr (YoY) (Neutral)

*Tanla Platforms:* Net Profit up 4.3% at ₹141.2 cr vs ₹135.4 cr, Revenue up 10% at ₹1,002.2 cr vs ₹911.1 cr (YoY) (Neutral)

*DISH TV India:* Company’s board meeting on July 24 to consider raising of funds (Neutral)

*Bank of India:* Bank has issued and allotted long term bonds (infrastructure) amounting to Rs 5,000 Cr on a private placement basis (Neutral)

*Integra Essentia:* Company’s CFO Pankaj Sardana resigns (Neutral)

*Vedanta:* Company sells 19.32 cr shares in QIP at Rs 440 each (Neutral)

*Vodafone Idea:* Company approves first tranche allotment of shares worth Rs 615 crore to Nokia India and Ericsson India. (Neutral)

*Allcargo Gati:* Company June total volume, including surface and air express, stood at 100kt, recording a decline of 3% as compared to May 2024. (Neutral)

*Pearl Global Industries:* Company completion of raising of funds up to 1.50b rupees via QIP (Neutral)

*Indian Bank:* Central Government extends term of office of Shanti Lal Jain as MD & CEO of Bank w.e.f September 1 to Dec 31 (Neutral)

*SpiceJet:* Company auditor issues 'Qualified Opinion' on FY24 accounts. (Neutral)

*Adani Ent:* Company and Torrent eye majority stake in IPL franchise as CVC wants to sell stake (Neutral)

*Indusind Bank:* Bank approved fund raise via debt securities worth Rs 200 Billion (Neutral)

*Techno Electric:* Allotted 86 Lakh Shares to QIB At 1440 Rupees/share (Neutral)

*Bombay Dyeing:* Company received Tax demand from Authorities WORTH OF Rs 39.77 crore (Neutral)

*PVR Inox:* Net Loss at Rs 178 cr vs loss of Rs 81.60 cr, Revenue at Rs 1190 cr vs Rs 1304 cr (YoY) (Negative)

*Seshasayee Paper:* Net profit at Rs 37 cr vs Rs 71.7 cr, Revenue at Rs 422 cr vs Rs 427 cr (YoY) (Negative)

*Wipro:* Management said that didn't see a significant shift in demand environment. Clients remained cautious, and discretionary spending continued to be muted (Negative)

Stocks Picker Articles

19 Jul 2024 05:09

Corporate Actions

Aurobindo Pharma has approved buyback of up to 51,36,986 equity shares, representing up to 0.88% of total equity shares capital, at a price of INR 1,460/- per Equity Share for an aggregate amount up to INR 750 crores, on a proportionate basis through the “tender offer” route. Tuesday, July 30, 2024 is fixed as the record date.

Dividend

19-Jul-24
CHENNPETRO: Final Dividend - Rs. - 55.00
UNIONBANK: Final Dividend - Rs. - 3.60
SHREDIGCEM: Dividend - Rs. - 3.00
GRAPHITE: Final Dividend - Rs. - 11.00
TECHM: Final Dividend - Rs. - 28.00
ICRA: Final Dividend - Rs. - 100.00
ABBOTINDIA: Final Dividend - Rs. - 410.00
SAINTGOBAIN: Final Dividend - Rs. - 2.00
ARVIND: Final Dividend - Rs. - 4.75
ZENSARTECH: Final Dividend - Rs. - 7.00
DELTACORP: Final Dividend - Rs. - 1.25
GUJCONT: Dividend - Rs. - 1.50
APCOTEXIND: Final Dividend - Rs. - 3.50
PDSL: Final Dividend - Rs. - 3.15
LICI: Final Dividend - Rs. - 6.00
CUMMINSIND: Final Dividend - Rs. - 20.00
BOSCHLTD: Final Dividend - Rs. - 170.00
DABUR: Final Dividend - Rs. - 2.75
HITECHCORP: Final Dividend - Rs. - 1.00
BLUESTARCO: Final Dividend - Rs. - 7.00
DHANUKA: Final Dividend - Rs. - 6.00
INDIANHUME: Final Dividend - Rs. - 1.50
SHANTIGEAR: Final Dividend - Rs. - 2.00
BAJAJELEC: Final Dividend - Rs. - 3.00
TCS: Interim Dividend - Rs. - 10.00
LLOYDSENGG: Dividend - Rs. - 0.20
ZYDUSWELL: Final Dividend - Rs. - 5.00
LXCHEM: Final Dividend - Rs. - 0.60
TCI: Final Dividend - Rs. - 2.00
SUMICHEM: Final Dividend - Rs. - 0.90
MANGLMCEM: Final Dividend - Rs. - 1.50
JSWINFRA: Final Dividend - Rs. - 0.55
KOTAKBANK: Final Dividend - Rs. - 2.00
RSSOFTWARE: Interim Dividend - Rs. - 0.25
CHOLAFIN: Final Dividend - Rs. - 0.70

22-Jul-24
IMFA: Final Dividend - Rs. - 7.50
VOLTAMP: Final Dividend - Rs. - 90.00
DHPIND: Final Dividend - Rs. - 4.00
CHEMBOND: Final Dividend - Rs. - 3.50
DIVGIITTS: Final Dividend - Rs. - 2.60
EXIDEIND: Final Dividend - Rs. - 2.00
SWELECTES: Final Dividend - Rs. - 4.00
HAPPYFORGE: Final Dividend - Rs. - 4.00
XPROINDIA: Dividend - Rs. - 2.00
BEMHY: Final Dividend - Rs. - 2.00
CARBORUNIV: Final Dividend - Rs. - 2.50

IPO
Sanstar: 19-Jul-24; Close: 23-Jul-24

Buyback
---

Bonus
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
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
Almondz Global Sec.: Stock Split From Rs. 6/- to Rs. 1/-; Ex-Date: 23-Jul-24
Cellecor Gadgets: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24

Right Issue
Shrydus Industries: Ex-Date: 19-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

Stocks Picker Articles

19 Jul 2024 04:52

Stock in Action

L&T Finance Ltd.: L&T Finance reported strong Q1FY25 numbers. Net Interest Income (NII) was up 5.8% QoQ and 22.9% YoY to Rs 2,020 crore in the quarter. Net interest margin (NIM) improved 17 basis points (bps) QoQ and 125 bps to 9.31 % on a YoY basis backed by increasing retail mix. PAT jumped 23.8% QoQ and 29.2% YoY to Rs 686 crore. The consolidated loan book size grew 12.9% YoY to Rs 88,717 crore as of the June quarter end, the highest since Q1FY20. This was aided by healthy disbursements across Farmer Finance Business (8%), Rural Business Finance (31% YoY), and Housing Finance (39%) and Loans Against Property (53%) segments under Urban Finance. During the quarter, L&T Finance’s asset quality improved with gross non-performing assets (GNPAs) declining to 3.14% from 4.04% in Q1FY24. Net NPAs were at 0.79%, down from 1.19% witnessed in the prior year quarter. ROA rose to 2.68% from 2.13% in Q1FY24 while ROE came in at 11.58%, up from 9.72% a year ago. Collection efficiencies have remained steady over time. The company met its Lakshya 2026 goals at retail level in Q3FY24 and is re-orienting itself for convergence at the consolidated level by FY2026. It expects to maintain retail loan book growth at >25% CAGR, consolidated GS3 & NS3 below 3% & 1%, respectively, and consolidated RoA in the range of 2.8%-3.0%. Positive on L&T Finance given its solid Q1FY25 performance backed by robust retail loan growth and improved asset quality.

Bajaj Auto: Bajaj Auto has started FY25 on a strong note, achieving record revenues and operating profits, driven by a rich product mix and robust sales of spare parts. In Q1 FY25, higher realisation from a rich product mix and record spare parts sales drove a 15.7% YoY growth in net operating revenues. There was also a significant increase in international business volumes, signalling a recovery in export markets. Increased realisation and volumes, expanded the EBITDA margin by 129.4 basis points YoY. The management indicated that the domestic two-wheeler industry has been improving over the past two to three quarters, driven mainly by the over-125cc segment. The Pulsar, Dominar, Triumph, and the KTM variants continue to be popular choices. The management noted that most export markets are recovering, as seen in the past three quarters. The Q1FY25 saw double-digit export revenue growth, with strong momentum in LATAM and improving conditions in Asia despite challenges in Africa. The company plans to roll out 4-6 new models in H2 FY25, with the recently launched Pulsar NS 400z further bolstering its portfolio. In the EV segment, the Chetak E-2W saw volumes double YoY in Q1 FY25, contributing to 14% of total revenue despite a flat industry growth. Positive on Bajaj Auto given the steady set of 1QFY25 performance.

Stocks Picker Articles

19 Jul 2024 04:21

*Tanla Platforms:* Net Profit up 4.3% at ₹141.2 cr vs ₹135.4 cr, Revenue up 10% at ₹1,002.2 cr vs ₹911.1 cr (YoY) (Neutral)

*Zydus Life:* US FDA classifies company’s injectables manufacturing facility at Jarod, Vadodra as official action indicated (Neutral)

*Tata Communications:* Company to invest $27 million in UK subsidiary (Neutral)

*HDFC Bank:* Company to hold annual general meeting on August 9 (Neutral)

*Indian Oil:* Moody’s affirms Company's Baa3 rating; Outlook stable (Neutral)

*Sagar Cements:* Company Approval for Implementation of 6 Mw Solar Power Plant at Ananthapur Plant at Cost of 210m Rupees. (Neutral)

*Ircon International:* Hari Mohan Gupta designated as CEO of Company, effective July 1. (Neutral)

*Ashiana Housing:* Company Q1 Value of Area Sold At Rs 235 crore versus Rs 436.20 crore YoY. (Neutral)

*Vodafone Idea:* Company approves first tranche allotment of shares worth Rs 615 crore to Nokia and Ericsson. (Neutral)

*Coromandel:* Company raises stake in unit Coromandel Crop Protection Philippines to 93.2% from 40%. (Neutral)

*Megasoft:* Ashish Chugh & Associates increased stake to 1.31% from 1.25% (Neutral)

*JTL Inds:* Company launches QIP; indicative total issue size of up to ₹300 cr (Neutral)

*Wipro:* Company transfers complete shareholding in Wipro Financial Outsourcing Services to Wipro IT Services UK Societas. (Neutral)

*Sagar Cements:* Net Loss at Rs 32.2 cr vs Rs 42.28 cr, Revenue at Rs 560.6 cr vs Rs 539.7 cr (YoY). (Negative)

*Ashiana Housing:* Company Q1 Value of Area Sold At Rs 235 crore versus Rs 436.20 crore YoY (Negative)

*Shoppers Stop:* Net Loss at Rs 22.7 cr vs Rs 14.49 cr, Revenue at Rs 1069.3 cr vs Rs 993.6 cr (YoY). (Negative)

Stocks Picker Articles

18 Jul 2024 05:14

Corporate Actions

Dividend

18-Jul-24
UTIAMC: Final Dividend - Rs. - 47.00
PANAENERG: Final Dividend - Rs. - 8.85
ULTRAMAR: Dividend - Rs. - 5.00
GPTHEALTH: Final Dividend - Rs. - 1.50
PRAJIND: Final Dividend - Rs. - 6.00
GOLKUNDIA: Final Dividend - Rs. - 1.50
TANLA: Final Dividend - Rs. - 6.00
PRECAM: Final Dividend - Rs. - 1.00
ARVSMART: Final Dividend - Rs. - 3.50
CANFINHOME: Final Dividend - Rs. - 4.00
BLISSGVS: Final Dividend - Rs. - 0.50
NEWGEN: Final Dividend - Rs. - 4.00
THANGAMAYL: Final Dividend - Rs. - 6.00
ARE&M: Final Dividend - Rs. - 5.10
ADVENZYMES: Final Dividend - Rs. - 1.10
NELCAST: Dividend - Rs. - 0.40
KEIL: Final Dividend - Rs. - 0.05
ASMTEC: Final Dividend - Rs. - 1.00

19-Jul-24
CHENNPETRO: Final Dividend - Rs. - 55.00
UNIONBANK: Final Dividend - Rs. - 3.60
SHREDIGCEM: Dividend - Rs. - 3.00
GRAPHITE: Final Dividend - Rs. - 11.00
TECHM: Final Dividend - Rs. - 28.00
ICRA: Final Dividend - Rs. - 100.00
ABBOTINDIA: Final Dividend - Rs. - 410.00
SAINTGOBAIN: Final Dividend - Rs. - 2.00
ARVIND: Final Dividend - Rs. - 4.75
ZENSARTECH: Final Dividend - Rs. - 7.00
DELTACORP: Final Dividend - Rs. - 1.25
GUJCONT: Dividend - Rs. - 1.50
APCOTEXIND: Final Dividend - Rs. - 3.50
PDSL: Final Dividend - Rs. - 3.15
LICI: Final Dividend - Rs. - 6.00
CUMMINSIND: Final Dividend - Rs. - 20.00
BOSCHLTD: Final Dividend - Rs. - 170.00
DABUR: Final Dividend - Rs. - 2.75
HITECHCORP: Final Dividend - Rs. - 1.00
BLUESTARCO: Final Dividend - Rs. - 7.00
DHANUKA: Final Dividend - Rs. - 6.00
INDIANHUME: Final Dividend - Rs. - 1.50
SHANTIGEAR: Final Dividend - Rs. - 2.00
BAJAJELEC: Final Dividend - Rs. - 3.00
TCS: Interim Dividend - Rs. - 10.00
LLOYDSENGG: Dividend - Rs. - 0.20
ZYDUSWELL: Final Dividend - Rs. - 5.00
LXCHEM: Final Dividend - Rs. - 0.60
TCI: Final Dividend - Rs. - 2.00
SUMICHEM: Final Dividend - Rs. - 0.90
MANGLMCEM: Final Dividend - Rs. - 1.50
JSWINFRA: Final Dividend - Rs. - 0.55
KOTAKBANK: Final Dividend - Rs. - 2.00
RSSOFTWARE: Interim Dividend - Rs. - 0.25
CHOLAFIN: Final Dividend - Rs. - 0.70

IPO
Sanstar: 19-Jul-24; Close: 23-Jul-24

Buyback
---

Bonus
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
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
Almondz Global Sec.: Stock Split From Rs. 6/- to Rs. 1/-; Ex-Date: 23-Jul-24
Cellecor Gadgets: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24

Right Issue
Shrydus Industries: Ex-Date: 19-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

Stocks Picker Articles

18 Jul 2024 04:47

Stock in Action

Hatsun Agro Products Ltd.: Hatsun Agro Products reported a stellar Q1FY25 performance likely aided by healthy ice-cream sales and favorable milk procurement prices. Revenue from operations of Rs. 2,375.06 crore marked YoY growth of 10.4%. EBITDA increased 39% from the year ago quarter to Rs. 330.3 crore while EBITDA margin expanded to 13.9% from 11.1%. The company witnessed a whopping 62.9% jump in PAT of Rs. 130.54 crore. Dairy activities are an essential part of the rural Indian economy and serve as an important source of employment and income. Moreover, the transformation of the dairy industry from an unorganised to a relatively organised sector, along with the increasing consumption of different value-added products offers a huge potential for India’s dairy industry going forward. Hatsun’s strong market position in the milk segment with a widespread presence in South India provides it a competitive advantage in terms of distribution and direct milk procurement, enabling it to tap growth opportunities in this industry. The company’s focus on product/process development to optimize its cost without compromising on product quality will help in boosting margins. Further, innovations and diversification across its product range, especially in terms of flavours and variants, helps garner constant customer engagement, thereby assuring stable revenues. Positive on Hatsun Agro Products given its solid quarterly performance, strong market position, efforts towards product/process development/innovation and significant growth opportunities in the thriving dairy industry.

HDFC Life: HDFC Life delivered a healthy performance in Q1FY25. The top-line growth was strong, but margins contracted a bit. There were two key takeaways from the earnings call. The first was on the recent regulatory changes relating to surrender value. According to the management, a higher surrender value payable on early exits will have a 100 bps (basis point) impact on the company’s value of new business (VNB) margin. The impact is relatively lower as HDFC Life assumes miniscule surrender profits in its VNB margin calculations. Another important takeaway is for future growth. The management is confident about growing faster than the industry, in terms of retail APE. The most encouraging bit is that the management expects VNB to double in four years, despite the adverse impact of regulatory changes on margins. This implies that VNB must increase at compounded annual growth rate of 19%. The bulk of the growth would be driven by top-line growth (APE growth). Margins too can aid VNB growth on product mix turning favourable. HDFC Life saw a strong APE growth of 23% YoY in Q1FY25. The insurer's individual APE grew by 31% YoY, driven by robust growth in ULIPs. While the ULIP APE grew by 88% YoY due to favourable equity market sentiments, the growth in retail protection APE too was healthy at 28% YoY. HDFC Life’s distribution mix changed in favour of bancassurance in Q1FY25, with the channel showing over 40% YoY growth in individual APE. Positive on HDFC Life given the healthy 1QFY25 performance.

Stocks Picker Articles

18 Jul 2024 04:33

*Kwality Pharmaceuticals:* Company Gets Approval From Digemid, Peru, Company Gets Approval For Its Generic, Injectable & Osd (unit -1 In Amritsar) (Positive)

*Vikas Lifecare:* Company Announce Updates On The Acquisition Deal Of Ebix Inc. (Positive)

*Zydus Lifesciences:* company announces non-exclusive patent licensing agreement with takeda for ‘vault’ in India. (Positive)

*Alok Ind:* Net loss of ₹206.9 cr vs loss of ₹226 cr, Revenue down 28.9% at ₹1,006.3 cr vs ₹1,414.9 cr (YoY) (Neutral)

*Adani Enterprises:* Company joint venture with Sirius International acquires 77.5% stakein Coreedge .io's parent company Parser labs India. (Neutral)

*IndiGo:* Company’s domestic market share falls to 60.8% vs 61.6% in May (Neutral)

*Spice Jet:* Company’s domestic market share falls to 3.8% vs 4.0% in May (Neutral)

*Exide Industries:* Company invested about 750m rupees in Exide energy solutions on rights basis (Neutral)

*WIPRO:* Company to infuse additional subscription amount of 1.4m rupees HEPL. Additional subscription towards capacity for renewable energy usage (Neutral)

*Bajaj Finance:* IRDAI imposes penalty of Rs 2 crore on Company (Neutral)

*IREDA:* Company gets approval for Rs 290 crore equity investment for up to 10% stake in SPVs in association with SJVN. (Neutral)

*Aditya Birla Money:* Ashok Suvarna as CEO of the Company effective September 1 (Neutral)

*Eicher Motors:* Company launches Royal Enfield Guerrilla 450. (Neutral)

*Glenmark Life:* Glenmark Pharma and Glenn Saldanha sell 96.17 lakh shares or 7.85% stake in Glenmark Life sciences. (Neutral)

*Adani, Wilmar:* Company is said to weigh selling $670 mln stake in JV: Bloomberg. (Neutral)

*Techno Electric:* Board approves floor price of QIP at ₹1,506.58 per share. (Neutral)

*Reliance Jio:* Company adds 21.95 lakh users vs 26.87 lakh users (MoM) (Neutral)

*Voda Idea:* Company loses 9.24 lakh users vs loss of 7.35 lakh users (MoM) (Neutral)

*Ultratech Cement:* Company to acquire 26% stake in Amplus Omega Solar for Rs 24.3 crore (Neutral)

*One 97 Communication:* Paytm approves grant of 6,000 stock options to employees: Agencies (Neutral)

*Tata Power:* Company to invest ₹20,000 cr capex in FY25 (Neutral)

*Zee Entertainment:* To raise Rs 1997 cr via issuing FCCBs to Resonance Opportunities Fund, St. John’s Wood Fund Limited and Ebisu Global Opportunities Fund. (Neutral)

*Chennai Petro:* Arvind Kumar ceased to be MD, H Shankar taken additional charge as MD. (Neutral)

*LTI Mindtree:* Net profit at Rs 1134 cr vs Rs 1100 cr, Revenue at Rs 9143 cr vs Rs 8890 cr (YoY) (Neutral)

*Hathway Cable:* Net profit at Rs 18.37 cr vs Rs 22.40 cr, Revenue at Rs 503 cr vs Rs 499 cr (YoY) (Neutral)

*Dee Development:* Net Profit Rs 11.9 cr Vs Rs 12.0 cr, Revenue Rs 243.0 cr Vs Rs 164.0 cr YoY (Neutral)

*Network18:* Net loss at Rs 100 cr vs loss of Rs. 38.73 cr, Revenue at Rs 3140 cr vs Rs 3240 cr (YoY) (Neutral)

*TV18:* Net loss at Rs 50.09 cr vs profit of Rs. 44.33 cr, Revenue at Rs 3069 cr vs Rs 3176 cr (YoY). (Negative)

*Agro Tech Foods:* Net profit at Rs 0.09 cr vs Rs 4.2 cr, Revenue at Rs 180 cr vs Rs 187 cr (YoY). (Negative)

*Spice Jet:* Ashish Kumar resigns as Head of Finance & CFO of the company. (Negative)

*Nazara Tech:* Company arm Open play Tech gets GST show cause notice for liability of Rs 1120 crore. (Negative)

*Bajaj Electricals:* Anuj Poddar resigns as MD & CEO w.e.f. September 30. (Negative)

*Asian Paints:* Net profit at Rs 1170 cr vs Rs 1574 cr, Revenue at Rs 8970 cr vs Rs 9182 cr (YoY) (Negative)

Stocks Picker Articles

16 Jul 2024 13:50

BONUS, DIVIDEND & SPLIT ALERT

➝ Bosch: Final dividend of ₹170 per share. Total FY24 payout: ₹375 per share. Record date: July 19, 2024.

➝ ICRA: Final dividend of ₹100 per share. Record date: July 19, 2024.

➝ Voltamp Transformers: Highest ever dividend of ₹90 per share. Record date: July 22, 2024.

➝ Chennai Petroleum: Final dividend of ₹55 per share. Record date: July 19, 2024.

➝ UTI AMC: Total payout of ₹47 per share. Record date: July 18, 2024.

➝ Dr. Reddy's Laboratories: Final dividend of ₹40 per share. Record date: July 16, 2024.

➝ TCS: Interim dividend of ₹10 per share. Record date: July 19, 2024.

➝ Lupin & M&M Finance: Final dividends of ₹8 and ₹6.3 per share respectively. Record date: July 16, 2024.

➝ Nestle India: Total payout of ₹11.25 per share. Record date: July 16, 2024.

➝ MM Forgings: 1:1 bonus share. Record date: July 16, 2024.

➝ KPI Green & Elcon Engineering: Stock splits—KPI Green: ₹10 into 2x ₹5 shares, Elcon Engineering: ₹2 into 2x ₹1 shares. Record dates: July 18 and July 19, 2024.

Stocks Picker Articles

25 Jul 2024 04:15

*Stocks in News*


*Hitachi Energy:* Net profit at Rs 10.4 cr vs Rs 2.40 cr, Revenue at Rs 1330 cr vs Rs 1040 cr (YoY) (Positive)

*Bikaji Foods:* Net profit at Rs 58.05 cr vs Rs 41.41 cr, Revenue at Rs 555 cr vs Rs 482 cr (YoY) (Positive)

*Sona BLW:* Net profit at Rs 141.7 cr vs Rs 112 cr, Revenue at Rs 891 cr vs Rs 732 cr (YoY) (Positive)

*IGL:* Net profit at Rs 401 cr vs Rs 383 cr, Revenue at Rs 3890 cr vs Rs 3964 cr (QoQ) (Positive)

*PG Electroplast:* Net profit at Rs 83.7 cr vs Rs 33.8 cr, Revenue at Rs 1320 cr vs Rs 678 cr (YoY) (Positive)

*SBI Life:* Net profit at Rs 519.52 cr vs Rs 381.04 cr, NPI at Rs 15,105 cr vs Rs 13,104 cr (YoY) (Positive)

*IEX:* Net profit at Rs 96.4 cr vs Rs 75.8 cr, Revenue at Rs 123.6 cr vs Rs 104 cr (YoY) (Positive)

*HFCL:* Net profit at Rs 110 cr vs Rs 75.56 cr, Revenue at Rs 1160 cr vs Rs 995 cr (YoY) (Positive)

*EPACK Durable:* Net profit at Rs 23 cr vs Rs 8 cr, Revenue at Rs 773 cr vs Rs 436 cr (YoY) (Positive)

*MAS Financial:* Net profit at Rs 72.5 cr vs Rs 57.5 cr, Revenue at Rs 365 cr vs Rs 292 cr (YoY) (Positive)

*Karnataka Bank:* Net profit at Rs 400 cr vs Rs 371 cr, Interest Earned at Rs 2278 cr vs Rs 1959 cr (YoY) (Positive)

*ONGC:* Company commences oil production from one of its Cluster-2 asset in January. (Positive)

*Welspun Corp;* Company gets order from Middle East for supply of LSAW pipes and bends. (Positive)

*RVNL:* Company is expected to complete its contract with South Eastern Railway for upgrading Jharkhand's traction system within 18 months. (Positive)

*HG Infra:* Company Board approved Sale or Disposal of Unit H.g. Rewari Bypass. (Positive)

*Hindustan zinc:* Company launches ECOZEN, Asia’s first low carbon ‘green’ ZINC. (Positive)

*Lemon tree hotels:* Company signed license agreement for keys prima by lemon tree hotels, Kota (Positive)

*Brand Concepts:* Company partners with ABG juicy couture LLC to launch women’s handbags and travel accessories under the brand name juicy couture in India. (Positive)

*Kolte Patil:* Company has entered into an agreement for sale of 20% equity stake held by the Company in snow flower properties, deal for Rs 83.8 Million. (Positive)

*BSE:* Company gets SEBI nod to act as research analyst and investment adviser administration body.. (Positive)

*Bajaj Hindustan Sugar:* Company competition commission passed judgment in favor of Company, case related to alleged contravention of provisions of competition act (Positive)

*Dish TV India: Company granted in-principal approval to explore, initiate process of raising of funds worth up to Rs 10 Billion. (Positive)

*South West Pinnacle:* Company receipt of work order from Hindalco Industries Limited The aggregate value of order is INR 536 Lac including GST. (Positive)

*VPRPL:* Awarded Contract by DYCE-C-I-AII-ENGINEERING, North Western Railway, Ajmer Division. (Positive)

*Apeejay Surrendra park:* Company’s iconic FLURYS opens its first tearoom in Mumbai. (Positive)

*Axis Bank:* Net profit at Rs 6035 cr vs Est Rs 5776 cr, NII at Rs 13,448 cr vs Est Rs 13,335 cr (YoY) (Neutral)

*Trident:* Net profit at Rs 73.8 cr vs Rs 91.3 cr, Revenue at Rs 1743 cr vs Rs 1496 cr (YoY) (Neutral)

*L&T:* Net profit at Rs 2785.7 cr vs Rs 2493 cr, Revenue at Rs 55,119 cr vs Rs 47,882 cr (YoY) (Neutral)

*DCB Bank:* Net profit at Rs 205 cr vs Rs 209 cr, NII at Rs 497 cr vs Rs 471 cr (YoY) (Neutral)

*JK Paper:* Net profit at Rs 140 cr vs Rs 309 cr, Revenue at Rs 1800 cr vs Rs 1664 cr (YoY) (Neutral)

*Jindal Steel:* Net profit at Rs 1337.9 cr vs Rs 1691 cr, Revenue at Rs 13,617 cr vs Rs 12,588 cr (YoY) (Neutral)

*SIS:* Net profit at Rs 64.2 cr vs Rs 89.5 cr, Revenue at Rs 3129.9 cr vs Rs 2976.7 cr (YoY) (Neutral)

*Oracle:* Net profit at Rs 617 cr vs Rs 560 cr, Revenue at Rs 1741 cr vs Rs 1642 cr (YoY) (Neutral)

*RBL Bank:* Baring PE is selling its entire stake, worth Rs 1,081 crore in RBL Bank with a floor price of Rs 226 per share. (Neutral)

Stocks Picker Articles

24 Jul 2024 04:49

*Fund Houses Recommendations*


Jefferies on *Kajaria:* Maintain Buy on Company, raise target price at Rs 1590/Sh (Positive)

Jefferies on *Torrent Pharma:* Maintain Buy on Company, raise target price at Rs 3540/Sh (Positive)

Investec on *Zensar Tech:* Maintain Buy on Company, raise target price at Rs 885/Sh (Positive)

Investec on *HUL:* Maintain Buy on Company, raise target price at Rs 2797/Sh (Positive)

Citi on *HUL:* Maintain Buy on Company, raise target price at Rs 3150/Sh (Positive)

Nomura on *HUL:* Maintain Buy on Company, raise target price at Rs 3200/Sh (Positive)

ICICI on *HUL:* Upgrade to Buy on Company, target price at Rs 2950/Sh (Positive)

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

MS on *Coforge:* Maintain Buy on Company, raise target price at Rs 7180/Sh (Positive)

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

Jefferies on *ICICI Pru:* Maintain Buy on Company, target price at Rs 750/Sh (Positive)

Goldman Sachs on *India Budget:* No increase in cigarette taxes in govt’s budget positive for *ITC* (Positive)

Jefferies on *ITC:* No news is great news; upgrades ITC to a buy call adding that it is a clear winner with government leaving tobacco taxes unchanged (Positive)

Morgan Stanley on *Indian Budget:* Reaffirms our view on continued macro stability and strong foundation for medium-term growth path (Positive)

CLSA On *Real Estate:* Negative for investments with shorter duration, moderate price growth. Markets like NCR and Mumbai are likely to adverse impacted while Pune, Bangalore and Hyderabad least impacted. Focus on affordable housing players like Sobha, Godrej Prop, Sunteck and Prestige (Neutral)

Jefferies on *Real Estate:* See low impact of the move on demand. (Neutral)

Jefferies on *Indian Budget:* FY25 final budget doesn't deviate much from the Feb '24 budget, but several small things have changed (Neutral)

Bernstein on *Indian Budget:* Capital gains tax increase is also a non-event; Market and sector views remain unchanged (Neutral)

MS on *Indian Budget:* Increase in formal employment creates a path for sustained growth momentum (Neutral)

Macquarie on *ICICI Pru:* Maintain Neutral on Company, target price at Rs 580/Sh (Neutral)

MS on *ICICI Pru:* Maintain Equal-Weight on Company, target price at Rs 610/Sh (Neutral)

Bernstein on *Bajaj Finance:* Maintain Market perform on Company, target price at Rs 6800/Sh (Neutral)

Emkay on *Bajaj Finance:* Maintain Buy on Company, cut target price at Rs 9000/Sh (Neutral)

Jefferies on *Bajaj Finance:* Maintain Market perform on Company, cut target price at Rs 7180/Sh (Neutral)

Jefferies on *M&M Fin:* Maintain Hold on Company, target price at Rs 305/Sh (Neutral)

Emkay on *M&M Fin:* Maintain Reduce on Company, target price at Rs 270/Sh (Neutral)

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

Stocks Picker Articles

23 Jul 2024 05:28

Forthcoming Event

23rd July: SRF to consider Dividend & Fund Raising; Apollo Micro Systems, Spice Islands Industries, Vistar Amar to consider Fund Raising; Tata Consumer Products Ltd. to consider Right Issue

24th July: TIPSINDLTD to consider Dividend; Ladderup Finance, Welspun Living to consider Buyback; Dish TV India, Iris Clothings, Marine Electricals (India), Sona BLW Precision Forgings, The Federal Bank to consider Fund Raising; Bikaji Foods International to consider Scheme of Arrangement

25th July: EMBASSY, LTFOODS, SHAREINDIA, STARHFL to consider Dividend; VST Industries to consider Bonus issue; Phoenix Township, Paisalo Digital to consider Fund Raising

26th July: ACCELYA, NUVAMA, SBC to consider Dividend; City Union Bank, Equitas Small Finance Bank, Shriram Finance, Cholamandalam Investment and Finance, Punjab & Sind Bank to consider Fund Raising; Hazoor Multi Projects to consider Stock Split

27th July: PREMCO to consider Dividend

29th July: OMAXAUTO to consider Dividend; Sonalis Consumer Products to consider Fund Raising

30th July: CASTROLIND to consider Dividend

31st July: IFL Enterprises to consider Dividend & Bonus issue

01st August: GESHIP, VAIBHAVGBL to consider Dividend

02nd August: CAMS, MAFATIND to consider Dividend; Contil India to consider Stock Split

03rd August: Sarda Energy & Minerals to consider Fund Raising

Stocks Picker Articles

23 Jul 2024 04:50

*Fund Houses Recommendations*


Citi on *Indus Tower:* Maintain Buy on Company, target price at Rs 500/Sh (Positive)

MS on *Oberoi Realty:* Upgrade to Equal weight on Company, raise target price at Rs 1900/Sh (Positive)

Nuvama on *Oberoi Realty:* Maintain Hold on Company, target price at Rs 1847/Sh (Positive)

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

MOSL on *Cyient DLM:* Maintain Buy on Company, target price at Rs 880/Sh (Positive)

Jefferies on *JK Cement:* Maintain Buy on Company, raise target price at Rs 4950/Sh (Positive)

Citi on *Exide Ind:* Maintain Buy on Company, raise target price at Rs 630/Sh (Positive)

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

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

Citi on *JK Cement:* Maintain Sell on Company, target price at Rs 4400/Sh (Neutral)

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

MOSL on *Oberoi Realty:* Maintain Neutral on Company, target price at Rs 1560/Sh (Neutral)

MOSL on *Cyient DLM:* Maintain Buy on Company, target price at Rs 880/Sh (Neutral)

Jefferies on *Supreme Industries:* Maintain Buy on Company, cut target price at Rs 6520/Sh (Neutral)

MOSL on *MRPL:* Maintain Sell on Company, cut target price at Rs 170/Sh (Negative)

Stocks Picker Articles

22 Jul 2024 05:27

Corporate Actions

Dividend

22-Jul-24
IMFA: Final Dividend - Rs. - 7.50
VOLTAMP: Final Dividend - Rs. - 90.00
CHEMBOND: Final Dividend - Rs. - 3.50
DHPIND: Final Dividend - Rs. - 4.00
DIVGIITTS: Final Dividend - Rs. - 2.60
EXIDEIND: Final Dividend - Rs. - 2.00
SWELECTES: Final Dividend - Rs. - 4.00
HAPPYFORGE: Final Dividend - Rs. - 4.00
XPROINDIA: Dividend - Rs. - 2.00
BEMHY: Final Dividend - Rs. - 2.00
CARBORUNIV: Final Dividend - Rs. - 2.50

23-Jul-24
NOVARTIND: Final Dividend - Rs. - 25.00
TCFCFINQ: Final Dividend - Rs. - 1.80
OCCL: Final Dividend - Rs. - 7.00
JENBURPH: Dividend - Rs. - 15.30
PLASTIBLEN: Final Dividend - Rs. - 4.25
MODISONLTD: Final Dividend - Rs. - 2.00
GOODYEAR: Final Dividend - Rs. - 15.00
TCPLPACK: Final Dividend - Rs. - 22.00
HIL: Final Dividend - Rs. - 22.50
HCLTECH: Interim Dividend - Rs. - 12.00
SHRIRAMFIN: Final Dividend - Rs. - 15.00
SILINV: Final Dividend - Rs. - 2.50
WEIZMANIND: Final Dividend - Rs. - 0.50
WALCHPF: Final Dividend - Rs. - 1.00
RAJRATAN: Final Dividend - Rs. - 2.00
RAINBOW: Final Dividend - Rs. - 3.00
DATAPATTNS: Final Dividend - Rs. - 6.50
SHREECEM: Final Dividend - Rs. - 55.00
TIINDIA: Final Dividend - Rs. - 1.50

24-Jul-24
FORTISMLR: Final Dividend - Rs. - 2.50
VINYLINDIA: Dividend - Rs. - 6.75
AVADHSUGAR: Dividend - Rs. - 10.00
FIEMIND: Final Dividend - Rs. - 20.00
IFGLEXPOR: Final Dividend - Rs. - 7.00
ICIL: Final Dividend - Rs. - 2.20
PIDILITIND: Final Dividend - Rs. - 16.00
HATSUN: Interim Dividend - Rs. - 6.00
LAXMIMACH: Final Dividend - Rs. - 75.00
ELGIEQUIP: Final Dividend - Rs. - 2.00
FORTIS: Final Dividend - Rs. - 1.00
HONAUT: Final Dividend - Rs. - 100.00
PRIVISCL: Final Dividend - Rs. - 2.00
DYCL: Final Dividend - Rs. - 0.50


IPO
Sanstar: 19-Jul-24; Close: 23-Jul-24

Buyback
Aurobindo Pharma : Ex-Date: 30-Jul-24

Bonus
EIH Associated Hotels : Bonus Issue 1:1; Ex-Date: 29-Jul-24

Stock Split
NHC Foods: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Jul-24
Almondz Global Sec.: Stock Split From Rs. 6/- to Rs. 1/-; Ex-Date: 23-Jul-24
KSB: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 25-Jul-24
Magellanic Cloud: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 26-Jul-24
Rushil Décor: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24
Filatex Fashions: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 09-Aug-24
Cellecor Gadgets: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24
Balmer Lawrie Investments: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 09-Aug-24

Right Issue
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
Lesha Industries: 22-Jul-24; Close: 27-Jul-24
Indowind Energy: 26-Jul-24; Close: 05-Aug-24
Inventure Growth & Securities: 15-Jul-24; Close: 13-Aug-24

Open Offer
Agro Tech Foods: Open: 11-Jul-24; Close: 25-Jul-24
Foods And Inns: Open: 23-Jul-24; Close: 05-Aug-24

Stocks Picker Articles

22 Jul 2024 04:53

Stock in Action

Just Dial Ltd: Just Dial Ltd., India’s leading local search engine company, reported solid Q1FY25 numbers. Net revenue from operations rose 13.6% YoY to Rs. 280.6 crore. EBITDA came in at Rs. 80.6 crore, more than doubling from the prior year quarter’s reading of Rs. 36.7 crore. EBITDA margin increased to 28.7% from 14.9% recorded in 1QFY24, mainly led by topline growth and cost efficiencies, both on employee costs and other expenses. Net profit of Rs. 141.2 crore climbed significantly by 69.3% on a YoY basis. The company’s total traffic (unique visitors) for the quarter was 181.3 million, up 5.7% YoY and marked the highest-ever quarterly visitors. 85.3% traffic originated on Mobile platforms, 11.3% on Desktop/ PC and 3.4% on the Voice platform. Total active listings stood at 44.9 million as of Jun 30, 2024, an increase of 18.2% YoY. Active paid campaigns improved 7.9% YoY to 591,650, with majority customers getting signed up on monthly payment plans. Going forward, the company’s prudent cost management efforts and emerging low-cost customer acquisition channels is likely to drive margins over time. Its first mover advantage in the Indian local search market and an advanced & scalable technology platform are likely to play to its strength. Positive on Just Dial given its solid Q1FY25 performance, steady increase in quarterly unique visitors, decreasing trend in expenses and strong brand recognition.

Havells India: Havells India posted a remarkable revenue growth of 20% YoY in Q1 FY25, led by a scorching summer season and a rebound in the Lloyd’s business. The EBITDA margins improved by 150 bps, despite a big jump in advertising and employee expenses. The Wires & Cables segment, contributing 26% to total revenue in Q1, posted modest revenue growth of just 2% on account of election-related slowdown in infrastructure and construction projects. The Electrical Consumer Durable segment surprised positively, posting a 20% YoY increase in the top line. The off-take of fans, air coolers, and small domestic appliances was supported by an intense heat wave, and new as well as premium products. The Lighting segment saw moderate revenue growth of only 4% as strong volume off-take was offset by a steep price erosion in the sector over the past 12 months. However, the management has indicated that prices have stabilised in recent months. After several quarters of underperformance, Lloyd had a stellar quarter as revenues rose ~50% YoY. The upswing was fuelled by the strength in RAC volumes throughout the summer season. Going forward, the management is hopeful for broad-based growth in the core business, driven by a favourable consumer sentiment and the normal monsoon season. Positive on Havells India ltd. as the rebound in consumer demand is supported by the recovery in real estate and a promising summer season.

Stocks Picker Articles

22 Jul 2024 04:51

*Fund Houses Recommendations*


Jefferies on *JSW Energy:* Maintain Buy on Company, raise target price at Rs 840/Sh (Positive)

MS on *ICICI Lombard:* Maintain Overweight on Company, raise target price at Rs 2205/Sh from Rs 2010/Sh (Positive)

Macquarie on *ITC:* Initiate Buy on Company, target price at Rs 535/Sh (Positive)

Citi on *Polycab:* Maintain Buy on Company, raise target price at Rs 7600/Sh (Positive)

Nuvama on *TRIL:* Maintain Buy on Company, target price at Rs 980/Sh (Positive)

Nomura on *Reliance Industries:* Maintain Buy on Company, target price at Rs 3600/Sh (Positive)

Citi on *Ultratech:* Maintain Buy on Company, target price at Rs 13,000/Sh (Positive)

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

Jefferies on *HDFC Bank:* Maintain Buy on Bank, raise target price at Rs 1890/Sh (Positive)

GS on *HDFC Bank:* Maintain Buy on Bank, raise target price at Rs 1961/Sh (Positive)

MS on *Kotak Bank:* Maintain Overweight on Bank, target price at Rs 2300/Sh (Positive)

Jefferies on *Kotak Bank:* Maintain Hold on Bank, raise target price at Rs 1960/Sh (Positive)

Citi on *BPCL:* Maintain Buy on Company, target price at Rs 380/Sh (Positive)

MS on *BPCL:* Maintain Overweight on Company, target price at Rs 366/Sh (Positive)

Jeffries on *BPCL:* Maintain Buy on Company, raise target price at Rs 385/Sh from Rs 365/Sh (Positive)

Nomura on *Wipro:* Maintain Sell on Company, raise target price at Rs 600/Sh (Positive)

Citi on *Wipro:* Maintain Sell on Company, raise target price at Rs 495/Sh from Rs 455/Sh (Neutral)

MS on *Wipro:* Maintain Underweight on Company, raise target price at Rs 459/Sh from Rs 421/Sh (Neutral)

Jeffries on *Reliance Industries:* Maintain Buy on Company, cut target price at Rs 3525/Sh from Rs 3580/Sh (Neutral)

MS on *Reliance Industries:* Maintain Overweight on Company, target price at Rs 3540/Sh (Neutral)

Nomura on *Reliance Industries:* Maintain Buy on Company, target price at Rs 3525/Sh (Neutral)

Macquarie on *Reliance Industries:* Maintain Neutral on Company, raise target price at Rs 2750/Sh from Rs 2630/Sh (Neutral)

MS on *Can Fin Home:* Maintain Overweight on Company, target price at Rs 1050/Sh (Neutral)

Bernstein on *Kotak Bank:* Maintain Market perform on Company, target price at Rs 1750/Sh (Neutral)

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

Macquarie on *ICICI Lombard:* Maintain Underperform on Company, target price at Rs 1260/Sh (Neutral)

Macquarie on *PayTM:* Maintain Underperform on Company, target price at Rs 325/Sh (Neutral)

Jefferies on *PayTM:* Maintain Hold on Company, raise target price at Rs 420/Sh (Neutral)

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

MOSL on *HDFC Bank:* Maintain Buy on Bank, target price at Rs 1850/Sh (Neutral)

Nuvama on *HDFC Bank:* Maintain Reduce on Bank, target price at Rs 1650/Sh (Neutral)

Kotak on *Polycab:* Maintain Sell on Company, target price at Rs 4500/Sh (Neutral)

Emkay on *Indian Hotels:* Maintain Add on Company, target price at Rs 615/Sh (Neutral)

Nuvama on *Indian Hotels:* Maintain Hold on Company, target price at Rs 568/Sh (Neutral)

Citi on *JSW STEEL:* Maintain Sell on Company, cut target price at Rs 650/Sh from Rs 750/Sh (Negative)

Investec on *PVR Inox:* Maintain Sell on Company, cut target price to Rs 1273/Sh (Negative)

Nomura on *Credit Access:* Downgrade to Neutral on Company, cut target price to Rs 1300/Sh (Negative)

Stocks Picker Articles

22 Jul 2024 04:50

*Stocks in News*



*Nippon AMC:* Net profit at Rs 332 cr vs Rs 235 cr, Revenue at Rs 505 cr vs Rs 354 cr (YoY) (Positive)

*Transformers and Rectifiers:* Net profit at Rs 21 cr vs Rs 12 cr, Revenue at Rs 322 cr vs Rs 155 cr (YoY). (Positive)

*Jubilant Pharmova:* Net profit at Rs 481 cr vs Rs 6 cr, Revenue at Rs 1720 cr vs Rs 1566 cr (YoY). (Positive)

*Oberoi Realty:* Net profit at Rs 584 cr vs Rs 321 cr, Revenue at Rs 1405 cr vs Rs 910 cr (YoY) (Positive)

*ICICI Lombard:* Net profit at Rs 466.3 cr vs Rs 329 cr, Premium Earned at Rs 4503.9 cr vs Rs 3887.3 cr (YoY) (Positive)

*Tejas Networks:* Net profit at Rs 79.85 cr vs loss of Rs 14.70 cr, Revenue at Rs 1540 cr vs Rs 167 cr (YoY) (Positive)

*RPG Life:* Net profit at Rs 26.8 cr vs Rs 22.1 cr, Revenue at Rs 165.4 cr vs Rs 147.8 cr (YoY) (Positive)

*Supreme Petrochem:* Net profit at Rs 122 cr vs Rs 69 cr, Revenue at Rs 1573.5 cr vs Rs 1225.1 cr (YoY) (Positive)

*Patanjali Foods:* Net profit at Rs 262.9 cr vs Rs 87.8 cr, Revenue at Rs 7173.1 cr vs Rs 7767.1 cr (YoY) (Positive)

*Gravita:* Net profit at Rs 68 cr vs Rs 52 cr, Revenue at Rs 907 cr vs Rs 703 cr (YoY) (Positive)

*Yes Bank:* Net profit at Rs 502 crore versus Rs 342 crore, NII at Rs 2244 crore versus Rs 1999 crore (YOY) (Positive)

*RBL Bank:* Net profit at Rs 371.5 cr vs Rs 288.1 cr, NII at Rs 1699.9 cr vs Rs 1422.3 cr (YoY) (Positive)

*Stanley Lifestyles:* Net profit at Rs 10.20 cr vs Rs 5.80 cr, Revenue at Rs 120 cr vs Rs 96.6 cr (YoY). (Positive)

*Kirloskar Pneumatic:* Net profit at Rs 26.9 cr vs Rs 17.93 cr, Revenue at Rs 275 cr vs Rs 242 cr (YoY). (Positive)

*Shakti Pumps:* Net profit at Rs 92.6 cr vs Rs 1.0 cr, Revenue at Rs 567 cr vs Rs 113 cr (YoY). (Positive)

*Poonawalla:* Net profit at Rs 290 cr vs Rs 226 cr, Revenue at Rs 900 cr vs Rs 650 cr (YoY). (Positive)

*Netweb Tech:* Net profit at Rs 15.4 cr vs Rs 5.0 cr, Revenue at Rs 149 cr vs Rs 60 cr (YoY) (Positive)

*JK Cement:* Net profit at Rs 185 cr vs Rs 111 cr, Revenue at Rs 2807 cr vs Rs 2762 cr (YoY) (Positive)

*Sportking India:* Net profit at Rs 31.8 cr vs Rs 18.1 cr, Revenue at Rs 634 cr vs Rs 538 cr (YoY). (Positive)

*Mahindra & Mahindra:* Company announces its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio (Positive)

*Coal India:* Company has received an order from Ministry of Mines, GOVT of India for Composite license. (Positive)

*Union Bank:* Q1 fresh slippages seen at 20.6 Billion vs 32 Billion (QoQ) (Positive)

*Hazoor Multi Projects:* Board meeting on July 26 to consider sub-division/spilt of shares (Positive)

*Aster DM:* Company unit Malabar institute of medical sciences to acquire 25% stake in Usolar Assetco, cost of acquisition Rs 78.8 Million (Positive)

*Zaggle Prepaid:* Company has entered into an agreement with PNB MetLife India Insurance Company to provide Zaggle Save Employee expense management and benefits. (Positive)

*Welspun Living:* Company Board meeting om July 24 to Consider Q1 Result, Consider Agenda for Buyback of Equity Shares (Positive)

*EMS:* Company received order worth 5.35 Billion rupees. (Positive)

*Kay Cee Energy:* Company received order worth Rs. 196 Million (Positive)

*Tata Consumer:* Company sanction of scheme of amalgamation of 3 units with company, by national company law tribunal. (Positive)

*JSW Infra:* Company approves purchase of assets of under construction 30 MTPA slurry pipeline project. (Positive)

*VL E-Governance:* Company signs binding term sheet for acquisition of 26% equity stake in HETL (joint venture of HAL), through this acquisition (Positive)

*PCJeweller:* Bank of Baroda accepts one-time settlement proposal from company for unsettled dues. (Positive)

*HDFC Life Insurance:* Company gets rectification order for tax demand revised from Rs 4,179 Cr in March to Rs 1,868 Cr (Positive)

*HG Infra:* Company gets letter from East Central Railway for Rs 709 crore project in Bihar. (Positive)

Stocks Picker Articles

19 Jul 2024 05:09

Forthcoming Event

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

20th July: NETWEB to consider Dividend; Sportking India to consider Stock Split

22nd July: COFORGE to consider Dividend

23rd July: Tata Consumer Products to consider Fund Raising

24th July: Sona BLW Precision Forgings to consider Fund Raising

25th July: EMBASSY to consider Dividend; VST Industries to consider Bonus issue

30th July: CASTROLIND to consider Dividend

Stocks Picker Articles

19 Jul 2024 04:40

*Fund Houses Recommendations*


Citi on *Go DIgit:* Initiate Buy on Company, target price at Rs 425/Sh (Positive)

Bernstein on *Infosys:* Maintain Outperform on Company, raise target price at Rs 2100/Sh from Rs 1650/Sh (Positive)

Citi on *Infosys:* Maintain Neutral on Company, raise target price at Rs 1850/Sh from Rs 1550/Sh (Positive)

Jefferies on *Infosys:* Maintain Buy on Company, raise target price at Rs 2040/Sh from Rs 1630/Sh (Positive)

Nomura on *Infosys:* Maintain Buy on Company, raise target price at Rs 1950/Sh from Rs 1800/Sh (Positive)

MS on *Infosys:* Maintain Overweight on Company, raise target price at Rs 2050/Sh (Positive)

JP Morgan on *Infosys:* Maintain Overweight on Company, raise target price at Rs 1950/Sh (Positive)

GS on *Infosys:* Maintain Buy on Company, raise target price at Rs 1870/Sh (Positive)

CLSA on *Infosys:* Maintain Buy on Company, raise target price at Rs 1747/Sh (Positive)

Nomura on *Havells:* Maintain Neutral on Company, raise target price at Rs 1900/Sh (Positive)

Citi on *ONGC:* Maintain Buy on Company, raise target price at Rs 370/Sh (Positive)

Emkay on *Karur Bank:* Maintain Buy on Bank, raise target price at Rs 275/Sh (Positive)
UBS on *Dalmia Bharat:* Maintain Sell on Company, target price at Rs 2160/Sh (Neutral)

MS on *Dalmia Bharat:* Maintain Equal weight on Company, target price at Rs 1990/Sh (Neutral)

Nomura on *Dalmia Bharat:* Maintain Reduce on Company, target price at Rs 1700/Sh (Neutral)

Citi on *ICICI Lombard:* Initiate Sell on Company, target price at Rs 1575/Sh (Neutral)

MS on *LTTS:* Maintain Underweight on Company, target price at Rs 4300/Sh (Neutral)

GS on *Tata Tech:* Maintain Sell on Company, cut target price at Rs 950/Sh (Negative)

Stocks Picker Articles

19 Jul 2024 04:21

*Stocks in News*



*LTIMindtree:* Company gets mutli-million dollar contract extension from Absa Bank (Positive)

*Bhagiratha Chem:* Derive Trading and Resorts name appear with 3.46% stake in shareholding during Q1. (Positive)

*PowerMech:* Company gets Rs 210 crore order from Hindustan Zinc for operation and maintenance work. (Positive)

*GPT Infra:* NHAI and Eastern Railway enhance existing contract with company to Rs 103 crore. (Positive)

*Dr. Reddy’s:* Company signs non-exclusive patent licensing agreement with Takeda to commercialise Vonoprazan, a novel gastrointestinal drug, in India. (Positive)

*HAL:* Company has signed an amendment to MoU with Aeronautical Development Agency for completion of LCA AF Mk-2 development for a value of Rs 2970 Crores (Positive)

*Infosys:* CC revenue growth at 3.6% vs polls of 2.4%, FY25 revenue growth guidance raised to 3-4% from 1-3% (Positive)

*Tata Technologies:* Company partners with arm to drive innovation in software-defined vehicles. (Positive)

*South Indian Bank:* Net profit at Rs 294.1 cr vs Rs 202.4 cr, NII at Rs 865.8 cr vs Rs 807.8 cr (YoY) (Positive)

*Dhunseri Tea:* Company sale of Diili tea estate for 350 Million (Positive)

*WPIL:* Company has approved a stock split, dividing each existing equity share of Rs. 10 into ten shares of Rs. 1 each. (Positive)

*Newgen Software:* Company to focus on horizontal product expansion, vertical offerings, and geographic expansion for future growth (Positive)

*BMW Ind:* Company is targeting a topline CAGR of 17-18% and operating EBITDA margin of 27-28% by FY26. (Positive)

*Kewal Kiran Clothing:* Company has acquired 50% stake in Kraus Casuals Private Limited, (Positive)

*Vedanta:* QIP draws bids of Rs 23,000 crore, exceeding Rs 8,000 crore offer. (Positive)

*VST Ind:* Company is said to consider Bonus issue on 25th July (Positive)

*Tech Mahindra:* Company to merge step down arm vCustomer Philippines Inc (Cebu) with its parent vCustomer Philippines Inc. (Positive)

*IndusInd Bank:* Moody’s affirms Bank's Ba1 ratings, upgrades standalone credit profile (Positive)

*CEAT:* Company anticipates continued momentum in volume throughout Q2. (Positive)

*Radico Khaitan:* Company says Magic moments music studio collaborates with Saregama (Positive)

*Rane Madras:* Exchanges have Issued No Objection certificate to scheme of amalgamation of Rane Engine and Rane Brake with company (Positive)

*Samhi Hotels:* Company signs management agreement with Marriott for rebranding two hotels in Pune & Jaipur. (Positive)

*Adani Ports:* ICRA upgraded rating to AAA/ stable from AA+/stable (Positive)

*TVS Motor:* Company appoints new management at Norton Motorcycles and plans six new motorcycles launches under brand in next three years. (Positive)

*Dalmia Bharat:* Net profit at ₹145 cr vs poll of ₹152 cr, Revenues at ₹3621.0 cr vs poll of ₹3599.0 cr. (Neutral)

*Persistent:* Net profit down 2.8% at ₹306.4 cr vs ₹315.3 cr, Revenue up 5.7% at ₹2,737 cr vs ₹2,590.5 cr (QoQ) (Neutral)

*JSW Infra:* Net profit down 8.9% at ₹292.4 cr vs ₹320.9 cr, Revenue up 15% at ₹1,009.8 cr vs ₹878.1 cr (YoY) (Neutral)

*LTTS:* Rupee revenue at ₹2,462 cr vs poll of ₹2,520 cr, EBIT at ₹383.6 cr vs poll of ₹410 cr. (Neutral)

*Tata Tech:* Net profit down 15.4% at ₹162 cr vs ₹191.5 cr, Revenue up 0.9% at ₹1,269 cr vs ₹1,257.5 cr (YoY) (Neutral)

*Gopal Snacks:* Net profit at Rs 24.3 cr vs Rs 28.36 cr, Revenue at Rs 350 cr vs Rs 318 cr (YoY) (Neutral)

*Rallis:* Net profit at Rs 48 cr vs Rs 63 cr, Revenue at Rs 783 cr vs Rs 782 cr (YoY) (Neutral)

*Vraj Iron:* Net profit at Rs 12.6 cr vs Rs 7.9 cr, Revenue at Rs 120 cr vs Rs 140 cr (YoY) (Neutral)

*RIIL:* Net profit at Rs 2.90 cr vs Rs 2.80 cr, Revenue at Rs 12.4 cr vs Rs 14.3 cr (YoY) (Neutral)

*CEAT:* Net profit at Rs 154.1 cr vs Rs 144.6 cr, Revenue at Rs 3192.8 cr vs Rs 2935.2 cr (YoY) (Neutral)

*CIE Automotive:* Net profit at Rs 220 cr vs Rs 300 cr, Revenue at Rs 2290 cr vs Rs 2300 cr (YoY) (Neutral)

Stocks Picker Articles

18 Jul 2024 05:14

Forthcoming Event

18th July: MENONBE to consider Dividend; Tata Communications to consider Fund Raising; Aurobindo Pharma to consider Buyback

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

20th July: NETWEB to consider Dividend; Sportking India to consider Stock Split

22nd July: COFORGE to consider Dividend

25th July: EMBASSY to consider Dividend

30th July: CASTROLIND to consider Dividend

Stocks Picker Articles

18 Jul 2024 04:33

*Fund Houses Recommendations*


Jefferies on *Manappuram:* Initiate Buy on Company, target price at Rs 270/Sh (Positive)

Jefferies on *Muthoot Fin:* Initiate Buy on Company, target price at Rs 2220/Sh (Positive)

Nomura on *Aadhar Fin:* Initiate Buy on Company, target price at Rs 550/Sh (Positive)

Investec on *Medi Assist:* Initiate Buy on Company, target price at Rs 625/Sh (Positive)

CLSA on *DB Corp:* Maintain Buy on Company, raise target price at Rs 450/Sh (Positive)

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

Nomura on *Bajaj Auto:* Maintain Buy on Company, raise target price at Rs 10926/Sh (Positive)

GS on *Eicher Motors:* Maintain Buy on Company, raise target price at Rs 5400/Sh (Positive)

Citi on *Eicher Motors:* Maintain Buy on Company, raise target price at Rs 5300/Sh (Positive)

MOSL on *Zen tech:* Maintain Buy on Company, raise target price at Rs 1775/Sh (Positive)

ICICI on *Indusind Bank:* Maintain Buy on Company, target price at Rs 2000/Sh (Positive)

CLSA on *Bajaj Auto:* Maintain Underperform on Company, raise target price at Rs 7000/Sh (Neutral)

Investec on *LTI Mindtree:* Maintain Sell on Company, raise target price at Rs 5370/Sh (Neutral)

Jefferies on *LTI Mindtree:* Maintain Underperform on Company, raise target price at Rs 4920/Sh (Neutral)

CLSA on *Eicher Motors:* Maintain Underperform on Company, target price at Rs 4157/Sh (Neutral)

Nomura on *Eicher Motors:* Maintain Reduce on Company, target price at Rs 4119/Sh (Neutral)

MS on *Eicher Motors:* Maintain Underweight on Company, target price at Rs 3533/Sh (Neutral)

CLSA on *Zee Ent:* Maintain Hold on Company, target price at Rs 150/Sh (Neutral)

Citi on *Hind Zinc:* Maintain Sell on Company, target price at Rs 325/Sh (Neutral)

UBS on *Asian Paints:* Maintain Buy on Company, cut target price to Rs 3650/Sh (Neutral)

Morgan Stanley on *Paints:* "Competitive intensity among dealers remains high" (Negative)

GS on *Asian Paints:* Maintain Neutral on Company, cut target price to Rs 2750/Sh (Negative)

JP Morgan on *Asian Paints:* Maintain Neutral on Company, cut target price to Rs 2800/Sh (Negative)

Citi on *Asian Paints:* Maintain Sell on Company, cut target price to Rs 2400/Sh (Negative)

Jefferies on *Asian Paints:* Maintain Underperform on Company, cut target price to Rs 2100/Sh (Negative)

Stocks Picker Articles

18 Jul 2024 04:33

*Stocks in News*



*Triveni Engineering:* Company starts commercial operations of its Indian-made foreign liquor business. (Positive)

*Kolte-Patil:* Q1 FY25 sales value stood at Rs. 711 crore, Q1 FY25 sales volumes stood at 0.96 million SQ. FT. highest ever quarterly collections at Rs. 612 crore, UP 19% (YOY) (Positive)

*Heidelberg Cement:* Company entered into manufacturing tie-up arrangement with himalayaheight cement. (Positive)

*K&R Rail Engineering:* Company Gets Order Worth 450m Rs for Rail Connectivity in Andhra Pradesh. (Positive)

*Sarveshwar Foods:* Company Enters Into Strategic Partnership with Boomitra to Drive Sustainable Agriculture Practices and Empower Farmers” Company Launches Ghg Reduction Initiative with Local Farmers. (Positive)

*Vibhor Steel:* Company’s commercial production at 2nd GI plant at balanagar to start from 17 July. (Positive)

*Amara Raja:* Company appellate tribunal allowed appeal of company, sets aside tax order (Positive)

*L&T FH:* Net profit at Rs 585.5 cr, up 29.1% YoY, NII rises to Rs 2101.2 cr, up 19.8% YoY (Positive)

*Just Dial:* Net Profit Rs 140.0 cr Vs Rs 83.4 cr, Revenue Rs 280.0 cr Vs Rs 247.0 cr YoY (Positive)

*Atishay:* Net profit at Rs 1.1 cr vs Rs 0.1 cr, Revenue at Rs 10.10 cr vs Rs 6.7 cr (YoY) (Positive)

*BMW Industries:* Net profit at Rs 22.3 cr vs Rs 15.6 cr, Revenue at Rs 170 cr vs Rs 157 cr (YoY) (Positive)

*Aditya Birla Money:* Net profit at Rs 16.4 cr vs Rs 9.4 cr, NII at Rs 88.6 cr vs Rs 60 cr (YoY) (Positive)

*Paytm:* Company enters into partnership with Flixbus to expand distribution network. (Positive)

*Adani Green:* Operational capacity up 31% YoY at 10,934 MW vs 8,316 MW (Positive)

*ONGC:* Company commenced production from Coal Bed Methane Block (CBM) in Bokaro, Jharkhand (Positive)

*Bharti Airtel:* Company adds 12.50 lakh users vs 7.52 lakh users (MoM) (Positive)

*GMR Airports:* Company's domestic traffic increased by 6.4% over last year. (Positive)

*KEC International:* Company gets new orders worth Rs 1,100 crore for transmission and distribution projects in India and overseas (Positive)

*Tata Steel:* Company plans to double manufacturing capacity to 40 MTPA. (Positive)

*Zee Entertainment:* Company receives shareholder approval with requisite majority to raise Rs 2,000 crore (Positive)

*Century Textile* Company is planning to launch another Rs 12,000 cr of launches in current FY (Positive)

*ESAF SFB:* RBI approved re-appointment of Kadambelil Thomas as MD & CEO for three year period (Positive)

*Maruti Suzuki:* Company unveils Suzuki Motor Corporation's 10-year Technology Strategy, emphasizing energy efficiency. (Positive)

*Coastal Corporation:* Ayush Mittal name appears with 1.01% stake. (Positive)

*Sanofi India:* Company Announces Expansion of Its Global Capacity Centre in Hyderabad, Company Plans Euro 400m Investment by 2030, With Euro 100m By 2025 (Positive)

*Jyoti Structures:* Company has received an order from Adani Energy Solutions for construction and part supply of 765kV D/C KPSIII-AP44 Transmission Line (Positive)

*Glenmark Pharma:* Company receives ANDA approval for Topiramate Capsules USP (Positive)

*Global Health:* Company Participated in the e-auction tender of land issue by MHADA measuring 8859 sq. MTR. At Jogeshwari. (Positive)

*TVS Motors:* Company to invest Pound 200 million in Norton Motorcycles. (Positive)

*Ashok Leyland:* Company Unit Hinduja Tech Signs Definitive Agreement to Acquire Tecosim Group Gmbh, Deal for Enterprise Value of About Eur 21m (Positive)

*Auro Pharma:* Board to meet today to consider Buyback (Positive)

*Oil upstream stocks:* Oil edges higher after the biggest daily jump in a month. (Positive)

*Bajaj Auto:* Company has received 30,000 plus bookings for the Freedom125 CNG motorcycle (Positive)

*Mahindra Life:* Government approved partial denotification of area under special economic zone, denotification will enable MWCDL to lease de-notified land (Positive)

Stocks Picker Articles

16 Jul 2024 05:41

*Forthcoming Event*

16th July: DBCORP to consider Dividend; Balu Forge Industries, Royal India Corporation, Sharanam Infraproject and Trading, Upsurge Investment & Finance, Zee Entertainment Enterprises to consider Fund Raising

17th July: Franklin Industries to consider Bonus issue; Antarctica to consider Fund Raising

18th July: MENONBE to consider Dividend; Tata Communications to consider Fund Raising; Aurobindo Pharma to consider Buyback

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

20th July: NETWEB to consider Dividend; Sportking India to consider Stock Split

22nd July: COFORGE to consider Dividend

25th July: EMBASSY to consider Dividend

30th July: CASTROLIND to consider Dividend