Stocks Picker Articles

26 Aug 2024 04:51

*Fund Houses Recommendations*


BofA on *Larsen:* Maintain Buy on Company, target price at Rs 4043/Sh (Positive)

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

Investec on *Bansal Wire:* Initiate Buy on Company, target price at Rs 440/Sh (Positive)

CLSA on *Reliance:* Maintain Outperform on Company, target price at Rs 3300/Sh (Positive)

Jefferies on *IT Sector:* Nifty IT has outperformed Nifty in CY23/YTDCY24 by 4%/2% despite EPS cuts, due to P/E re-rating (Neutral)

BofA on *Autos*: August- Seasonal softness lingers, early festive in Sep key (Neutral)

CLSA on *Insurance:* Rising cases of hospital-insurer conflicts during contract renewal (Neutral)

Citi on *Zydus Life:* Maintain Sell on Company, target price at Rs 890/Sh (Neutral)

Nomura on *Apollo Hospitals:* Downgrade to Neutral on Company, raise target price at Rs 6856/Sh (Neutral)

Kotak on *Reliance Ind:* Maintain Add on Company, target price at Rs 3200/Sh (Neutral)

Nuvama on *Coal India:* Maintain Hold on Company, target price at Rs 567/Sh (Neutral)

Stocks Picker Articles

26 Aug 2024 04:50

*Stocks in News*


*FDC:* US FDA Inspection for Baddi, Himachal Pradesh Unit Completed With Zero Observations (Positive)

*JSW Energy:* Arm JSW Neo Energy gets LoA for 250 mw grid-connected wind power project from Adani Electricity Mumbai. (Positive)

*Kec International:* Company wins new orders of Rs. 1,079 cr in transmission & distribution and cables businesses. (Positive)

*Lemon Tree Hotels:* Company signs license pact for 175-room property in Surat, Gujarat (Positive)

*Cyient:* Company incorporates subsidiary, Cyient Semi-conductors. (Positive)

*Uno Minda:* Sets up new manufacturing plant at Neemrana, Rajasthan (Positive)

*Alstone textiles:* Company approved issuance of 5 billion shares, issuance of shares to non-promoters on preferential basis; approved raising of fund up to Rs 10 billion (Positive)

*Symphony:* Company arm incorporates China-based unit Dongguan GSK Appliances. (Positive)

*Shyam metalics:* Company says acquisition of 100% stake in SMEL steel structural Pvt Ltd by unit Shyam sel and power ltd, entity being acquired belongs to manufacturing of various metal and metal products. (Positive)

*Ambuja Cements:* GQG Partners Emerging Markets Equity Fund bought 2.68 crore shares of Ambuja Cements (1.08%) at Rs 625.5 apiece. (Positive)

*Zydus Life:* Company to acquire 50% stake in Sterling Biotech from Perfect Day (Positive)

*Ashoka Buildcon:* Company emerges lowest bidder for MMRDA project worth Rs 478 cr (Positive)

*IDFC:* Gets Income tax Refund of ₹202.55 crore for assessment year 2023 – 2024 (Positive)

*Karur Vysya Bank:* RBI approves SBI Mutual Fund’s proposal to acquire 9.99% stake in Bank (Positive)

*ONGC:* Company started production from its 5th Oil Well in Block KG-DWN-98/2 Cluster-2 Asset Of Deepwater Block in Krishna River (Positive)

*Hero MotoCorp:* Hero Motors, the flagship auto components company of the group has filed its IPO papers with SEBI (Positive)

*Trent, Bharat Electronics:* NSE to add Trent, Bharat Electronics to Nifty 50 Index effective Sept 30 (Positive)

*Alembic Pharma:* Company gets U.S. FDA final approval for ANDA of Betamethasone Valerate Foam. (Positive)

*REC:* Company has inked an initial pact to provide up to Rs 45,000 crore financing to various Jawaharlal Nehru Port Authority projects. (Positive)

*Vascon Engineers:* Company plans to boost its real-estate business over the next two years. (Positive)

*Jio Fin:* Company received approval for foreign investment limit of 49% of the paid-up capital of the Company. (Positive)

*PTC India:* Company acquires Hot rolled mill to boost Titanium Alloy plates manufacturing. (Positive)

FTSE announces changes to FTSE all cap and all world indices. Bank Of Maharashtra, Bharat Dynamics, Central Bank Of India, Cochin Shipyard, Escorts, Endurance, GE T&D, HUDCO, IRB Infra, KEI, Hitachi and Llyod metals added to the list (Positive)

*Varroc Engineering:* Company issued commercial paper for up to Rs. 500 Million (Neutral)

*Elpro international:* Company acquired equity shares of central depository services, cost of acquisition Rs 142.2 Million (Neutral)

*IDFC:* Company gets Income Tax Refund of ₹202.55 crores (comprising Tax of Rs. 189.25 crores and Interest of ₹13.30 crores) for Assessment Year 2023-24. (Neutral)

*TCC Infotech:* Company has completed acquisition of natural environment solutions private industry to which the entity being acquired belongs to data centre (Neutral)

*Vardhman textiles:* Company issues clarification regarding winning of textile contract of Rs 30 Billion, Company doesn't have JV with manomay tex india in relation to said contract (Neutral)

*Dr Reddy's Lab:* USFDA completed a product-specific Pre-Approval Inspection at formulations manufacturing facility in Srikakulam, Andhra Pradesh. USFDA issued a form 483 with three observations (Neutral)

*Zen Technologies:* Company closes QIP, sets issue price at Rs 1,601/share: (Neutral)

Stocks Picker Articles

23 Aug 2024 05:22

Corporate Actions

Power Mech Projects has decided to issue bonus shares in the ratio of 1:1 ie. one share for every one equity share subject to the approval of shareholders at ensuing 25th Annual General Meeting which is scheduled to be held on 27th September, 2024. The Board has approved fixation of Saturday, 28th September 2024 as Record date.

Pulsar International has approved the issue Bonus shares to the existing equity shareholders in the ratio 01:10 (One equity share for every Ten equity shares) subject to approval of shareholders and regulatory authorities.

Wonder Electricals has approved Subdivision/ split of equity share of face value of Rs. 10/- eachinto 10 equity shares of face value of Rs. 1 /- each, subject to approval of shareholders at the ensuing Annual General Meeting (“AGM”).

Nucleus Software Exports has approved the Proposal for Buyback of up to 4,48,018 equity shares comprising of 1.67% of equity capital, at a price of Rs. 1,615/- per Equity Share for an aggregate amount not exceeding Rs. 72.36 Crores, on a proportionate basis through the Tender Offer route. The Company has fixed Tuesday, September 03, 2024 as Record Date.

Dividend

23-Aug-24
IVC: Final Dividend - Rs. - 0.70
KUANTUM: Final Dividend - Rs. - 3.00
LICHSGFIN: Final Dividend - Rs. - 9.00
GODFRYPHLP: Final Dividend - Rs. - 56.00
GUJHOTE: Final Dividend - Rs. - 2.50
MEERA: Interim Dividend - Rs. - 0.50
TAALENT: Interim Dividend - Rs. - 25.00
ONGC: Final Dividend - Rs. - 2.50
MANYAVAR: Final Dividend - Rs. - 8.50
AKCAPIT: Final Dividend - Rs. - 8.00
YSL: Final Dividend - Rs. - 400.00
BHAGERIA: Final Dividend - Rs. - 1.00
FEDERALBNK: Final Dividend - Rs. - 1.20
KFINTECH: Final Dividend - Rs. - 5.75
MAYURUNIQ: Final Dividend - Rs. - 3.00
IRCTC: Final Dividend - Rs. - 4.00
UPSURGE: Interim Dividend - Rs. - 0.50
EKC: Final Dividend - Rs. - 0.70
SURYAROSNI: Final Dividend - Rs. - 2.50
KRONOX: Final Dividend - Rs. - 0.50
VENKEYS: Final Dividend - Rs. - 7.00
CRSTCHM: Final Dividend - Rs. - 0.50
GAEL: Final Dividend - Rs. - 0.35
RPTECH: Final Dividend - Rs. - 1.00
GANDHAR: Final Dividend - Rs. - 0.50
DEEPAKSP: Final Dividend - Rs. - 0.50
ASTRAMICRO: Final Dividend - Rs. - 2.00
INSECTICID: Interim Dividend - Rs. - 2.00
CREST: Final Dividend - Rs. - 1.00
NATCOPHARM: Interim Dividend - Rs. - 3.00
MAXHEALTH: Final Dividend - Rs. - 1.50
ABB: Interim Dividend - Rs. - 10.66
BHATIA: Final Dividend - Rs. - 0.02
DSSL: Interim Dividend - Rs. - 0.50
KPEL: Interim Dividend - Rs. - 0.10
NICCOPAR: Interim Dividend - Rs. - 0.35

26-Aug-24
MANAPPURAM: Interim Dividend - Rs. - 1.00
DHRUV: Final Dividend - Rs. - 0.25
ZWELCAST: Final Dividend - Rs. - 2.50

IPO
Orient Technologies: 21-Aug-24; Close: 23-Aug-24
Premier Energies: 27-Aug-24; Close: 29-Aug-24

Buyback
Mayur Uniquoters: Ex-Date: 23-Aug-24
VLS Finance: Ex-Date: 26-Aug-24
KDDL: Ex-Date: 27-Aug-24
Technocraft Industries: Ex-Date: 27-Aug-24
Suprajit Engineering: Ex-Date: 27-Aug-24
Navneet Education: 20-Aug-24; Close: 26-Aug-24
TTK Prestige: 21-Aug-24; Close: 27-Aug-24
Cera Sanitaryware: 22-Aug-24; Close: 28-Aug-24
Savita Oil Technologies: 22-Aug-24; Close: 28-Aug-24
Dhanuka Agritech: 22-Aug-24; Close: 28-Aug-24
Chaman Lal Setia Exports: 23-Aug-24; Close: 29-Aug-24

Bonus
Garment Mantra Lifestyle: Bonus Issue 1:1; Ex-Date: 23-Aug-24
Central Depository Services (I): Bonus Issue 1:1; Ex-Date: 23-Aug-24
VST Industries: Bonus Issue 10:1; Ex-Date: 30-Aug-24

Stock Split
Aditya Vision: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 27-Aug-24
Bondada Engineering: Stock Split From Rs.10/- to Rs.2/-; Ex-Date: 02-Sep-24

Right Issue
Vishvprabha Ventures: Ex-Date: 06-Sep-24
Nirman Agri Genetics: 05-Aug-24; Close: 23-Aug-24
Swiss Military Consumer Goods: 23-Aug-24; Close: 06-Sep-24
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24

Stocks Picker Articles

23 Aug 2024 04:45

*Fund Houses Recommendations*


Citi on *Phoenix Mills:* Maintain Buy on Company, raise target price at Rs 4040/Sh (Positive)

Citi on *Oberoi Real:* Maintain Neutral on Company, raise target price at Rs 1840/Sh (Positive)

Citi on *Prestige:* Maintain Buy on Company, raise target price at Rs 2020/Sh (Positive)

Citi on *Zomato:* Maintain Buy on Company, target price at Rs 300/Sh (Positive)

UBS on *TVS Motors:* Maintain Buy on Company, raise target price at Rs 3200/Sh (Positive)

JP Morgan on *TVS Motors:* Upgrade to Overweight on Company, raise target price at Rs 3050/Sh (Positive)

Jefferies on *Go Digit:* Initiate Buy on Company, target price at Rs 420/Sh (Positive)

Jefferies on *ICICI Lombard:* Maintain Buy on Company, target price at Rs 2600/Sh (Positive)

Nuvama ON Pharma: Forecasts raise for *Lupin, NatcoPharma, Zydus, Glenmark Pharma* (Positive)

Bernstein on *Reliance:* Retail focus has been on operational efficiency as capex moderated & stores were rationalized, raise target price at Rs 3440/Sh (Positive)

Jefferies on *Auto Sector:* After a sharp rise in H1CY24, Ola's E2W market share has slipped from 49% in Jun-Q to 33% in Aug, although it remains the 1 player (Neutral)

CLSA on *Reliance:* Maintain Outperform on Company, target price at Rs 3300/Sh (Positive)

HSBC *India Strategy:* Indian equities are hot; however, after 13 out of 15 years of gains and trading at lofty valuations (Neutral)

Morgan Stanley on *MPC minutes:* Meeting underscore that price stability remains at center stage, amid resilient domestic growth conditions (Neutral)

Citi on *Dr Lal pathlabs:* Maintain Sell on Company, target price at Rs 2700/Sh (Neutral)

Citi on *PayTM:* Maintain Sell on Company, target price at Rs 440/Sh (Neutral)

Citi on *DLF:* Maintain Sell on Company, raise target price at Rs 790/Sh (Neutral)

Citi on *Sobha:* Maintain Sell on Company, raise target price at Rs 1600/Sh (Neutral)

Jefferies on *Star Health:* Initiate Hold on Company, target price at Rs 550/Sh (Neutral)

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

Stocks Picker Articles

22 Aug 2024 05:08

*Forthcoming Event*

22nd August: Power Mech Projects, Pulsar International to consider Bonus issue; Fedbank Financial Services, Nutricircle, Trishakti Industries to consider Fund Raising; Wonder Electricals to consider Stock Split; Nucleus Software Exports to consider Buyback

23rd August: Jindal Saw to consider Stock split

24th August: Transport Corporation of India to consider Buyback; Kanpur Plastipack, Muthoot Capital Services, Ducon Infratechnologies to consider Fund Raising

26th August: Aarti Drugs to consider Buyback

27th August: SPML Infra to consider Fund Raising

28th August: GILLETTE to consider Dividend

29th August: PGHH to consider Dividend; Indian Renewable Energy Development Agency to consider Fund Raising

30th August: Kiduja India to consider Stock Split

Stocks Picker Articles

22 Aug 2024 05:01

Stock in Action

Tata Power: Tata Power, a leading integrated power company and a part of Tata Group, recently received a rating upgrade to BBB- from BB+ with positive outlook from S&P Global Ratings. The ratings agency stated that Tata Power's close linkage to the Tata brand and legacy as a key asset under the group's umbrella underpins its expectation of strong extraordinary support, if needed. It believes that Tata Power's stand-alone credit profile continues to benefit from steady growth in business scale and diversity, with a vast majority of cash flows being predictable, especially with temporary reprieve on the previously loss-making Mundra plant. The agency further added that the positive outlook reflects the outlook on the sovereign credit rating on India, given that the rating is capped at the level of the sovereign. Tata Power delivered a stellar performance in 1QFY25 with revenues rising 12% YoY to a record high of Rs. 16,810 crore. EBITDA grew 11% YoY to Rs. 3,350 crore. The company reported its highest ever and 19th consecutive quarter of PAT growth, which rose 31% YoY to Rs. 1,189 crore, on the back of strong operational performance and execution excellence across all its businesses of Generation, Transmission & Distribution, and Renewables. A solid order pipeline is propelling this all-round business growth. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is around Rs. 15,500 crore. Tata Power is also working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan and the upcoming 2800 MW pumped hydro storage plants in Maharashtra. Positive on Tata Power given its good set of 1QFY25 numbers, solid brand recognition, recent rating upgrade by S&P Global and efforts to tap on the growing demand for clean energy.

CDSL: CDSL has been one of the beneficiaries of buoyancy in the secondary equity market and the boom in the primary market. CDSL posted robust earnings, with net profit rising 82% during 1QFY25. The Indian equity markets reached a significant milestone in Q1FY25, with the total market capitalisation surpassing $5 trillion in May 2024. The overall activity in the Indian securities market saw a notable increase in Q1 FY25, compared to Q1FY24, and the retail participation in the capital markets strengthened further. The secondary market has been on a steady rise and the primary market, too, is bustling with IPOs. The average daily turnover (cash equity) on exchanges surged and reached about Rs 1,31,000 crore in Q1FY25, compared to Rs 65,500 crore in the corresponding quarter last year (Q1FY24), a growth of 100% YoY. CDSL saw 12.55 crore active demat accounts, as of end-June 2024, compared to 8.83 crore, as at end June 2023, marking an increase of 42% YoY. The rise in trading volumes in the secondary market, and, more specifically, the large number of IPOs led to a 72% YoY growth in revenue in Q1FY25. CDSL has a well-diversified revenue mix. The market linked IPO/Corporate action charges grew almost 3x YoY. The transaction charges that form the largest component of total revenue doubled in Q1 FY25. It has cut transaction charges with effect from June 1, and its full impact will be reflected in the Q2FY25 earnings. Most likely, the soaring volume is likely to offset the price reduction. Positive on CDSL given the rising digitalisation in the financial services businesses.

Stocks Picker Articles

22 Aug 2024 04:41

*Stocks in News*

*DCM Shriram:* Company commissions 52,500 TPA Hydrogen Peroxide plant at its chemical complex in Gujarat (Positive)

*BEML:* Company partners with Indian Navy to develop advanced marine applications for defence. (Positive)

*HUDCO:* Company has signed a MoU with Yamuna Expressway Industrial Development Authority at New Delhi. (Positive)

*Rail Vikas Nigam Limited:* Company has signed MoU with M/s Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA). (Positive)

*Kilburn Engineering:* Company proposes to acquire Monga Strayfield for Rs 1.23 billion. (Positive)

*Welspun Enterprises:* Company arm gets order worth Rs 160 crore from BMC for rehabilitation of man-entry sewers by trenchless technology in city (Positive)

*Azad Engineering:* Company is working towards making very critical parts for RollsRoyce defence aircraft. (Positive)

*Indoco:* Company will launch product immediately in U.S., where it is eligible for 180 days of competitive generic therapy exclusivity. (Positive)

*Shriram Properties:* Company announces plans to triple revenue to Rs 3,000 crore and double sale bookings to Rs 5,000 crore by FY27. (Positive)

*Spandana:* SEBI approved the settlement on July 25 and payment was confirmed on August 9. (Positive)

*PayTM:* Zomato to acquire Paytm's entertainment ticketing business for ₹2,048 crore (Positive)

*Cyient DLM:* Morgan Stanley Asia Singapore and Aditya Birla SunLife MF acquired stakes in Cyient DLM after promoter offloaded stake worth Rs 879 crore. (Positive)

*Embassy Office Parks REIT:* Signs agreement to provide 8 lakh square feet prime office space in Bengaluru to global banking major Commonwealth Bank of Australia. (Positive)

*PNB Housing:* Biggest buyers of offloaded shares include Singapore government and Aditya Birla SunLife MF. (Positive)

*Awfis Space:* Company launches 2 new centres in Bengaluru with total built-up area of 66,846 sq ft. (Positive)

*L&T Tech:* Company extends collaboration with Paris-based Thales for software monetisation solutions (Positive)

*Aarti Drugs:* Company to consider sixth share buyback since 2016 on August 26 (Positive)

*E2E Networks:* Board approved the fundraising via a preferential issue worth over ₹420 crores (Positive)

*GMR Airports:* Company signs license pact for Delhi Duty Free Concession, to take up operations from July 28, 2025. (Positive)

*IREDA:* Company to consider raising of funds up to Rs 4,500 crore through QIP or other means (Neutral)

*Kalyan Jewellers:* High dell to sell 2.36% stake to Kalyan Jewellers promoter Trikkur Sitarama Iyer for Rs 1,300 crore. (Neutral)

*P&G Health:* Net profit at Rs 16.8 cr vs Rs 29.8 cr, Revenue at Rs. 283.9 cr vs Rs 301.2 cr (YoY) (Neutral)

*Sun Pharma:* Pharmazz inc and Company entered into an agreement under which sun pharma will invest up to $15 million in pharmazz, inc. (Neutral)

*Alkem Laboratories:* Promoter likely to sell 0.7% stake (8.5 lakh shares) of Alkem Laboratories via block deals,Floor price at Rs 5,616, at a 3% discount to CMP (Neutral)

*Muthoot Capital:* Company board meeting on AUG 24 consider and approve issuance of non-convertible debentures upto rs. 50 crores on private placement basis. (Neutral)

*India Grid Trust:* Sponsor, Esoteric II Pte to sell 17.32% stake of Company via Offer For Sale (OFS) (base offer of 9.66% & oversubscription option of 7.66%) from August 22-23, 2024. Floor price at Rs 132/share (Neutral)

*PNB:* Government extends Kalyan Kumar's term as Executive Director of for 2 years" (Neutral)

*ONGC:* Company approves buyback of compulsorily convertible debentures worth Rs 7,778 crore issued by OPaL. (Neutral)

*HDFC Bank:* A penalty of Rs. 3.22 crore has been imposed on the Bank by Commercial Tax Officer, Chandigarh. (Neutral)

*Zen Technologies:* Company launches ₹800 crore QIP, price set at ₹1,601 per share (Neutral)

*Muthoot Capital:* Company will consider raising up to ₹50 crore via a debt issue on August 24. (Neutral)

*GE Power India:* Company announces that Prashant Jain, managing director, has stepped down. (Negative)

Stocks Picker Articles

21 Aug 2024 05:08

Forthcoming Event

21st August: PGHL to consider Dividend; Datasoft Application Software (India), Emmbi Industries to consider Fund Raising

22nd August: Power Mech Projects, Pulsar International to consider Bonus issue; Fedbank Financial Services, Nutricircle, Trishakti Industries to consider Fund Raising; Wonder Electricals to consider Stock Split; Nucleus Software Exports to consider Buyback

23rd August: Jindal Saw to consider Stock split

27th August: SPML Infra to consider Fund Raising

28th August: GILLETTE to consider Dividend

29th August: PGHH to consider Dividend

30th August: Kiduja India to consider Stock Split

Stocks Picker Articles

21 Aug 2024 04:46

*Fund Houses Recommendations*


BofA on *VBL:* Maintain Buy on Company, target price at Rs 1840/Sh (Positive)

UBS on *DMart:* Maintain Buy on Company, target price at Rs 6000/Sh (Positive)

Emkay on *IOCL:* Maintain Add on Company, target price at Rs 205/Sh (Positive)

Emkay on *BPCL:* Maintain Buy on Company, target price at Rs 405/Sh (Positive)

Emkay on *HPCL:* Maintain Buy on Company, target price at Rs 475/Sh (Positive)

JP Morgan on *Cyient:* Maintain Overweight on Company, target price at Rs 2100/Sh (Positive)

GS on *SJVN:* Maintain Sell on Company, raise target price at Rs 85/Sh (Positive)

Goldman Sachs on India *Consumer:* FMCG growth improved, driven by HPC companies (Positive)

Bernstein on *Life Insurers:* Proxy for growing wealth of high-income households with long runway for growth and compounding. Outperform Call On *SBI Life, Max Fin & HDFC Life* (Positive)

Morgan Stanley on *Emerging Market Strategy:* Remain overweight on Japan and India (Positive)

Bernstein on *Auto:* Channel inventory has increased; Dealer association has highlighted that inventory levels are in the range of 70 days. Still prefer *Maruti* over M&M as it faces low expectations (Neutral)

CLSA on *Tech M:* Downgrade to Hold on Company, target price at Rs 1670/Sh (Neutral)

Stocks Picker Articles

21 Aug 2024 04:45

*Stocks in News*


*Granules India:* Company secures USFDA approval for generic Glycopyrrolate oral solution (Positive)

*Petronet LNG:* Company signs MoU with Sri Lanka’s LTL Holdings for supply of LNG to LTL’s dual fuelled Power Plant(s) in Kerawalapitiya, Colombo for 5 years. (Positive)

*Navneet Education:* Company expects 10% overall growth in FY25; Stationery business to grow higher. (Positive)

*UBL:* Heineken Silver and Heineken Original will be available in the state of Karnataka from this month. (Positive)

*Prism Johnson:* Company completed modernisation of tile production plant at vijaywada, tile production capacity of H & R Johnson to reduce to 64 mln MTR SQR PA. (Positive)

*CESC:* Company’s arm incorporates wholly-owned subsidiary Eco fusion Power to explore opportunity in renewable power sector (Positive)

*Indian Toners & Developers:* Company approved proposal for buyback; approved buyback of shares worth up to Rs 206.2 Million, buyback price at 450 rupees per share. (Positive)

*Weizmann:* Company approved proposal for buyback; approved buyback of shares worth up to Rs 58.4 Million, buyback price at 160 rupees per share. (Positive)

*BGR Energy Systems:* Company gets termination of contract from Jharkhand urja sancharan nigam. (Positive)

*Star Cement:* Company plan to take cement capacity to 12 MTPA by FY27. (Positive)

*Sansera Engineering:* Company approved raising of funds of upto Rs 12 billion, Company to further invest 200m rupees in MMRFIC technology (Positive)

*Tata Motors:* Company raised to investment grade, outlook changed to stable from watch positive by S&P Global. (Positive)

*Tata Steel:* Company upgraded to BBB from BBB-, outlook changed to watch positive from stable by S&P Global. (Positive)

*Tata Power:* Company upgraded to BB+ from BBB-, outlook maintained to positive (Positive)

*PI Industries:* U.K. Companies Court approves PI Industries acquisition of Plant Health Care for £ 32.8 million. (Positive)

*Sarda Energy:* Company deposits infusion amount of Rs 1,950 crore in Escrow account as per terms of resolution plan for debt-ridden (Positive)

*Ola:* Company’s S1 X 3 kWh and 4 kWh scooters (2 scooter variants) get Auto PLI certification (Positive)

*Shriram FInance:* CCI approves Mango Crest's acquisition of Shriram Housing Finance (Positive)

*Updater Services:* Company acquired additional 22.3 percent stake in Denave India (Positive)

*Genus Power:* Company gets 3 orders worth Rs 3,609 crore for appointment of Advanced Metering Infrastructure Service Providers (Positive)

*Advait Infratech:* Company gets Order worth 203.3 Mln Rupees (Positive)

*HG Infra:* Company wins bid for Rs 781 crore Gujarat road project (Positive)

*Manorama Industries:* Cocoa Prices May Remain Elevated (Positive)

*Dr Reddy's:* Company announces potential partnership with Aurigene Pharma & Kainomyx for joint development of affordable Anti-Malarial drug: NDTV. (Positive)

*E2E Networks:* Company raises Rs 421 crore via preferential issue of shares. (Positive)

*Dhanuka Agritech:* Company has approved a buyback of 5,00,000 equity shares at Rs. 2,000 per share, totaling up to Rs. 100 crores. (Positive)

*Hindustan Zinc:* Investability weight of Hindustan Zinc in FTSE All-World Index has increased to 7% from 5.49%. (Positive)

*TTK Prestige:* Company is offering to buy back up to 16,66,666 fully paid-up equity shares at ₹1,200 per share (Positive)

*SPML Infra:* Board Meeting on Aug 27 to consider issue of shares (Positive)

*Larsen & Toubro:* Bombay High Court quashes & sets aside GST show cause notice of ₹2,237 cr (Positive)

*PNB Housing:* General Atlantic Singapore Fund FII Pte is likely to offload a 5.1% stake in via a BlockDeal on August 21, at a floor price of ₹775 per share: CNBC-TV18 (Neutral)

*Exide Industries:* Company infuses ₹74.99 Crore in EESL, total investment reaches ₹2,652 Crore (Neutral)

Stocks Picker Articles

20 Aug 2024 05:28

Forthcoming Event

20th August: HINDZINC, VISHWARAJ to consider Dividend; Indian Toners & Developers, Weizmann to consider Buyback; Loyal Equipments, Modern Engineering And Projects, Osia Hyper Retail, Sansera Engineering, SPS International Lt to consider Fund Raising

21st August: PGHL to consider Dividend; Datasoft Application Software (India), Emmbi Industries to consider Fund Raising

22nd August: Power Mech Projects, Pulsar International to consider Bonus issue; Fedbank Financial Services, Nutricircle, Trishakti Industries to consider Fund Raising; Wonder Electricals to consider Stock Split; Nucleus Software Exports to consider Buyback

23rd August: Jindal Saw to consider Stock split

28th August: GILLETTE to consider Dividend

29th August: PGHH to consider Dividend

30th August: Kiduja India to consider Stock Split

Stocks Picker Articles

20 Aug 2024 05:00

*Fund Houses Recommendations*


UBS on *Polycab:* Initiate Buy on Company, target price at Rs 8550/Sh (Positive)

UBS on *KEI Ind:* Initiate Buy on Company, target price at Rs 6150/Sh (Positive)

Emkay on *Kalpataru:* Maintain Buy on Company, target price at Rs 1550/Sh (Positive)

Macquarie on *TCS:* Maintain Outperform on Company, raise target price at Rs 5740/Sh (Positive)

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

Jefferies on *Reliance Ind:* Maintain Buy on Company, raise target price at Rs 3530/Sh (Positive)

UBS on *India Economics:* Indian economy holding up well; potential growth (6.5% vs. 6.5-7% UBSe). (Positive)

BofA on Asia Strategy: In Asia - *Reliance, ICICI Bank and Infosys* feature among the most important list (Positive)

Jefferies on *India Strategy:* 12% earnings growth (ex-O&G, metals) / domestic cos was broadly in line (Neutral)

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

MS on *HCL Tech:* Maintain Overweight on Company, target price at Rs 1705/Sh (Neutral)

Nomura on *Indusind Bank:* Maintain Neutral on Bank, target price at Rs 1580/Sh (Neutral)

MS on *Titagarh Rail:* Maintain Overweight on Company, target price at Rs 1337/Sh (Neutral)

Citi on *M&M:* Maintain Buy on Company, cut target price at Rs 3180/Sh (Neutral)

Stocks Picker Articles

19 Aug 2024 05:19

Corporate Actions

Dividend

19-Aug-24
RELIANCE: Final Dividend - Rs. - 10.00
MANINFRA: Interim Dividend - Rs. - 0.45
ACE: Final Dividend - Rs. - 2.00
DRAGARWQ: Final Dividend - Rs. - 2.50

20-Aug-24
OMNITEX: Interim Dividend - Rs. - 8.00
CENTENKA: Final Dividend - Rs. - 10.00
NPL: Dividend - Rs. - 12.50
SOUTHBANK: Final Dividend - Rs. - 0.30
JKPAPER: Final Dividend - Rs. - 5.00
CORALFINAC: Final Dividend - Rs. - 0.40
SANGHVIMOV: Final Dividend - Rs. - 6.00
RAIN: Interim Dividend - Rs. - 1.00
SUNTV: Interim Dividend - Rs. - 5.00
APARINDS: Final Dividend - Rs. - 51.00
INDOBORAX: Final Dividend - Rs. - 1.00
RATNAMANI: Final Dividend - Rs. - 14.00
AIAENG: Dividend - Rs. - 16.00
PIIND: Final Dividend - Rs. - 9.00
LALPATHLAB: Interim Dividend - Rs. - 6.00
IRB: Interim Dividend - Rs. - 0.10
PHOENIXLTD: Final Dividend - Rs. - 5.00
MITSU: Final Dividend - Rs. - 0.20
BALKRISIND: Interim Dividend - Rs. - 4.00
TITAGARH: Dividend - Rs. - 0.80

21-Aug-24
SUMEDHA: Final Dividend - Rs. - 1.00
UNIPARTS: Interim Dividend - Rs. - 6.75
SNOWMAN: Interim Dividend - Rs. - 1.00
EMAMIPAP: Final Dividend - Rs. - 1.60
GATEWAY: Interim Dividend - Rs. - 1.25
LINC: Final Dividend - Rs. - 5.00
BBL: Dividend - Rs. - 35.00
INDIAGLYCO: Final Dividend - Rs. - 8.00
PFIZER: Final Dividend - Rs. - 35.00
ENGINERSIN: Final Dividend - Rs. - 1.00
ITDCEM: Final Dividend - Rs. - 1.70
MUFTI: Final Dividend - Rs. - 0.50
HAL: Final Dividend - Rs. - 13.00
ISGEC: Dividend - Rs. - 4.00
VIDHIING: Interim Dividend - Rs. - 1.00
SATIA: Interim Dividend - Rs. - 0.10
RAJPALAYAM: Dividend - Rs. - 0.60
SYMPHONY: Interim Dividend - Rs. - 1.00
KPIGREEN: Interim Dividend - Rs. - 0.20

IPO
Interarch Building Products: 19-Aug-24; Close: 21-Aug-24
Orient Technologies: 21-Aug-24; Close: 23-Aug-24

Buyback
Chaman Lal Setia Exports: Ex-Date: 19-Aug-24
AIA Engineering: Ex-Date: 20-Aug-24
Symphony: Ex-Date: 21-Aug-24
Mayur Uniquoters: Ex-Date: 23-Aug-24
VLS Finance: Ex-Date: 26-Aug-24
KDDL: Ex-Date: 27-Aug-24
Technocraft Industries: Ex-Date: 27-Aug-24
Suprajit Engineering: Ex-Date: 27-Aug-24
Indus Towers: 14-Aug-24; Close: 21-Aug-24
Navneet Education: 20-Aug-24; Close: 26-Aug-24

Bonus
PVV Infra: Bonus Issue 1:1; Ex-Date: 20-Aug-24
Sprayking: Bonus Issue 1:1; Ex-Date: 21-Aug-24
Garment Mantra Lifestyle: Bonus Issue 1:1; Ex-Date: 23-Aug-24
Central Depository Services (I): Bonus Issue 1:1; Ex-Date: 23-Aug-24
VST Industries: Bonus Issue 10:1; Ex-Date: 30-Aug-24

Stock Split
Money Masters Leasing: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Aug-24
Aditya Vision: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 27-Aug-24
Bondada Engineering: Stock Split From Rs.10/- to Rs.2/-; Ex-Date: 02-Sep-24

Right Issue
Vishvprabha Ventures: Ex-Date: 06-Sep-24
Tata Consumer Products: 05-Aug-24; Close: 19-Aug-24
Nirman Agri Genetics: 05-Aug-24; Close: 23-Aug-24
Swiss Military Consumer Goods: 23-Aug-24; Close: 06-Sep-24
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24

Stocks Picker Articles

19 Aug 2024 05:18

Forthcoming Event

19th August: Aryan Share And Stock Brokers, E2E Networks, Hi-Tech Pipes, Indian Terrain Fashions, Suraj Estate Developers to consider Fund Raising

20th August: HINDZINC, VISHWARAJ to consider Dividend; Indian Toners & Developers, Weizmann to consider Buyback; Loyal Equipments, Modern Engineering And Projects, Osia Hyper Retail, Sansera Engineering, SPS International Lt to consider Fund Raising

21st August: PGHL to consider Dividend; Datasoft Application Software (India), Emmbi Industries to consider Fund Raising

22nd August: Power Mech Projects, Pulsar International to consider Bonus issue; Fedbank Financial Services, Nutricircle, Trishakti Industries to consider Fund Raising; Wonder Electricals to consider Stock Split

23rd August: Jindal Saw to consider Stock split

28th August: GILLETTE to consider Dividend

29th August: PGHH to consider Dividend

30th August: Kiduja India to consider Stock Split

Stocks Picker Articles

19 Aug 2024 04:57

*REC:* Company incorporates new subsidiary for Rajasthan Power Transmission Project (Neutral)

*HDFC Life:* Company gets tax demand worth Rs 112 crore including interest & penalty from Chandigarh Tax Authority. (Neutral)

*Allsec Technologies:* Gaurav Mehra resigns from the post of CFO and key managerial person of Allsec Technologies (Neutral)

*Mahindra & Mahindra:* Company unveils five-door Thar at a starting price of Rs 12.99 lakh. (Neutral)

*MTNL:* Company approves service pact with BSNL for 10 years. (Neutral)

*GHCL:* Annual maintenance activities of Boiler at Company's Soda Ash plant is scheduled to take place from September 16, 2024 for a period of two weeks. (Neutral)

*BSE:* To pay the differential regulatory fee as directed by the SEBI, payment would lead to a total outflow of approx. ₹ 167.33cr (Neutral)

*Vodafone:* Company in November announce strategic partnership with Accenture to commercialize Vodafone’s Shared Operations. (Neutral)

*Polyplex Corp:* Board approves re-appointment of Pranay Kothari as whole-time director for 3 years (Neutral)

*SpiceJet:* Company is currently raising Rs 3,000 crore via qualified institutional placement. (Neutral)

*Uno Minda:* Company appoints Ramesh KS as CEO for ECS-2 Domain w.e.f. August 17, 2024. (Neutral)

*Electronic Marts:* Promoters sell Rs 689cr stake (7.8% stake)-Buyers Norway's Govt Pension Fund Global+ SBI MF (Neutral)

*BPCL Chairman:* Plans to invest `1.7 lk cr over next 5 yrs to expand core biz, new energy foray (Neutral)

*Sportking:* Fixes Sept. 13 as record date for share split (1:10) (Neutral)

*Steel companies:* Steel prices in India have fallen to a three-year low (Neutral)

*Maruti:* Q2 PAT to be impacted by Rs 850cr due to removal of indexation benefit on debt funds (Negative)

Stocks Picker Articles

26 Aug 2024 04:50

*SBI:* Bank plans to raise up to Rs 7,500 crore by issuing tier-II bonds by the end of August. (Neutral)

*Reliance Infra and Reliance Power:* Anil Ambani had resigned from the board of directors of Reliance Infrastructure and Reliance Power. (Neutral)

*Transport Corporation of India:* Company to repurchase shares up to Rs 159 cr at Rs 1,200/Sh (Neutral)

*Infosys:* CEO Salil Parekh does not foresee any layoffs in his company on account of these new-age technologies. (Neutral)

*Divi's Labroatories, LTIMindtree:* NSE to exclud from the Nifty 50 index from September 30, 2024. (Neutral)

*Zydus Life:* Over the weekend, Teva received US FDA approval for gAsacol HD (Negative)

Stocks Picker Articles

23 Aug 2024 05:22

Forthcoming Event

23rd August: Jindal Saw to consider Stock split

24th August: Transport Corporation of India to consider Buyback; Kanpur Plastipack, Muthoot Capital Services, Ducon Infratechnologies to consider Fund Raising

26th August: Aarti Drugs to consider Buyback

27th August: Asian Energy Services, Jet Freight Logistics, Paras Defence and Space Technologies, Skipper, Spandana Sphoorty Financial, SPML Infra to consider Fund Raising

28th August: GILLETTE to consider Dividend; Vaishali Pharma to consider Bonus issue

29th August: PGHH to consider Dividend; Indian Renewable Energy Development Agency to consider Fund Raising

30th August: Kiduja India to consider Stock Split

Stocks Picker Articles

23 Aug 2024 05:22

Stock in Action

Indian Renewable Energy Development Agency (IREDA) Ltd.: IREDA, India’s largest pure-play green financing NBFC, is considering raising funds up to Rs. 4,500 crore in one or more tranches either through further public offer (FPO) or qualified institutional placement (qip) or right issue or preferential issue or any other permitted mode or a combination, as may be deemed appropriate. IREDA is a 'Navratna' Government of India Enterprise and has presence across renewable energy sectors with a comprehensive suite of financial products and services. Amidst a robust global environment for renewable energy growth and the government's continued focus on the sector, the company is likely to benefit over the long term. IREDA reported revenue from operations of Rs. 1510 crore, up 8.6% QoQ and 32.1% YoY. Operating profit (before depreciation, impairment & tax) came in at Rs. 453.90 crore, rising 30.5% YoY. PAT jumped 13.7% QoQ and 30.2% YoY to Rs. 383.69 crore. Asset quality too improved in 1QFY25 with GNPA and NNPA falling 89 bps and 66 bps to 2.19% and 0.95%, respectively. Positive on IREDA given its good set of 1QFY25 numbers and efforts to tap growth opportunities in the renewable energy sector.

Crompton Greaves Consumer Electricals Ltd.: Crompton Greaves, India’s leading consumer durables company, reported a good set of 1QFY25 numbers aided by strong performance across categories, especially fans and air coolers amid extreme heat conditions that prevailed in the country. Revenue from operations increased 9% QoQ and 13.9% YoY to Rs. 2,137.69 crore. The company achieved industry leading growth in the electrical consumer durables (ECD) segment, which rose 21% YoY driven by broad based performance across categories. EBITDA of Rs. 232.4 crore improved 14.1% QoQ and 25.1% YoY while the EBITDA margin climbed 49 bps QoQ and 97 bps YoY to 10.9%. PAT of Rs. 152.4 crore witnessed QoQ and YoY growth of 14.2% and 24.8%, respectively. Going forward, the post-pandemic resurgence in household consumption expenditure towards consumer durables goods is likely to continue, thus spurring the growth in manufacturing of consumer durables. Additionally, Crompton’s multiple marketing activities to strengthen brand awareness will improve market penetration, paving the way for growth. Positive on Crompton Greaves given the healthy 1QFY25 performance and revival in demand for consumer durables.

Stocks Picker Articles

23 Aug 2024 04:45

*Stocks in News*


*BEL:* Company announced ₹695 crore order win for combat management systems (Positive)

*Wipro:* Company extends pact with John Lewis partnership to complete cloud transformation project. (Positive)

*Jain Irrigation:* Company signs MoU with Coffee Board of India for the commercial release of the advanced high quality, disease-resistant coffee plants to growers. (Positive)

*Lemon Tree Hotels:* Company signs a new property in shivpuri, Madhya Pradesh, this hotel will feature 50 well-appointed rooms, (Positive)

*Hindalco:* Company "Plan $10 Billion investment in India ops, Novelis expansion". (Positive)

*Akums Drugs:* Company has commenced its second production facility today for manufacturing of eye/ear drops (Positive)

*Prism Jhonson:* Company has entered into a shareholders agreement with sunbath sanitary private for investment of Rs 18.72 cr by subscribing to equity shares (Positive)

*Pulsar International:* Company Board has approved the issue Bonus shares out of free reserves to the existing equity Shareholders in the ratio 01:10. (Positive)

*Power Mech:* Company decided to issue bonus shares in the ratio of 1:1. (Positive)

*RailTel:* Company has received the work order from Uttar Pradesh Police Recruitment and Promotion Board for Service amounting to Rs. 52.6 Cr. (Positive)

*Bharti Airtel:* Company has GST demand of Rs 604.66 crore rectified to Rs 194 crore after filing an appeal. (Positive)

*Tech Mahindra:* Company to leverage AI to enhance aspects of engineering, supply chain, pre-sales and after-sales services for Mahindra & Mahindra. (Positive)

*Poly Medicure:* Company raises ₹1,000 crore by selling shares to at least major funds via QIP. (Neutral)

*Eris Lifesciences:* ChrysCapital offloads entire stake in company; Infinity Partners acquires shares for ₹1,187 crore (Neutral)

*Nestle:* Company names Laurent Freixe as CEO to succeed Mark Schneider. (Neutral)

*Bharat Forge:* Company to invest ₹105 crore in Kalyani Powertrain (Neutral)

*Shriram Finance:* Company approves sale of entire stake in Shri ram Housing Finance to Warburg affiliate. (Neutral)

*Nykaa:* Harindarpal Singh & Associates likely to sell up to 1.4% stake in Nykaa, floor price at Rs 198/share (Neutral)

*SRG Housing Finance:* Net profit at Rs 5.85 cr vs Rs 4.39 cr, Revenue at Rs. 33.98 cr vs Rs 26.85 cr (YoY). (Neutral)

*Zomato:* Company shuts down intercity 'Legends' after failing to find product-market fit (Neutral)

*Adani Power:* NCLT approves co’s resolution plan to buy Lanco Amarkantak Power. Cost of acquisition is ₹4,101 cr (Neutral)

*Ambuja Cement:* Promoter Entity Holderind to sell 2.84% stake in co via block deals. (Neutral)

*Alkem Laboratories:* Samprada and Nanhamati Singh Family Trust offloaded 8.5 lakh shares at Rs 5,732.15 apiece. (Neutral)

*SBI Life:* Company gets tax and penalty demand worth Rs 239 crore from Haryana tax authority (Neutral)

*Canara Bank:* Invited bids for its tier-I bond issue on August 27. (Neutral)

Stocks Picker Articles

22 Aug 2024 05:08

*Corporate Actions*

India Grid Trust Sponsor Esoteric II Pte - an affiliate of KKR - will sell a 17.32% stake in India Grid Trust, India’s first power sector InvIT, via offer-for-sale on August 22-23. The floor price for the offer will be Rs 132 per unit.

*Dividend*

*22-Aug-24*
LGBBROSLTD: Dividend - Rs. - 18.00
KAKATCEM: Final Dividend - Rs. - 3.00
MAZDA: Final Dividend - Rs. - 16.00
PANAMAPET: Final Dividend - Rs. - 4.00
OMAXAUTO: Final Dividend - Rs. - 1.00
ASTERDM: Final Dividend - Rs. - 2.00
SIRCA: Final Dividend - Rs. - 1.50
AAL: Final Dividend - Rs. - 1.50
GOLDIAM: Interim Dividend - Rs. - 1.00
GLOBUSSPR: Dividend - Rs. - 3.50
IRFC: Final Dividend - Rs. - 0.70
RELAXO: Final Dividend - Rs. - 3.00
BENARAS: Final Dividend - Rs. - 25.00
HESTERBIO: Dividend - Rs. - 6.00
JINDALSTEL: Final Dividend - Rs. - 2.00
INVPRECQ: Final Dividend - Rs. - 1.00
HINDWAREAP: Final Dividend - Rs. - 0.40
GCSL: Final Dividend - Rs. - 0.30

*23-Aug-24*
IVC: Final Dividend - Rs. - 0.70
KUANTUM: Final Dividend - Rs. - 3.00
LICHSGFIN: Final Dividend - Rs. - 9.00
GODFRYPHLP: Final Dividend - Rs. - 56.00
GUJHOTE: Final Dividend - Rs. - 2.50
MEERA: Interim Dividend - Rs. - 0.50
TAALENT: Interim Dividend - Rs. - 25.00
ONGC: Final Dividend - Rs. - 2.50
MANYAVAR: Final Dividend - Rs. - 8.50
AKCAPIT: Final Dividend - Rs. - 8.00
YSL: Final Dividend - Rs. - 400.00
BHAGERIA: Final Dividend - Rs. - 1.00
FEDERALBNK: Final Dividend - Rs. - 1.20
KFINTECH: Final Dividend - Rs. - 5.75
MAYURUNIQ: Final Dividend - Rs. - 3.00
IRCTC: Final Dividend - Rs. - 4.00
UPSURGE: Interim Dividend - Rs. - 0.50
EKC: Final Dividend - Rs. - 0.70
SURYAROSNI: Final Dividend - Rs. - 2.50
KRONOX: Final Dividend - Rs. - 0.50
VENKEYS: Final Dividend - Rs. - 7.00
CRSTCHM: Final Dividend - Rs. - 0.50
GAEL: Final Dividend - Rs. - 0.35
RPTECH: Final Dividend - Rs. - 1.00
GANDHAR: Final Dividend - Rs. - 0.50
DEEPAKSP: Final Dividend - Rs. - 0.50
ASTRAMICRO: Final Dividend - Rs. - 2.00
INSECTICID: Interim Dividend - Rs. - 2.00
CREST: Final Dividend - Rs. - 1.00
NATCOPHARM: Interim Dividend - Rs. - 3.00
MAXHEALTH: Final Dividend - Rs. - 1.50
ABB: Interim Dividend - Rs. - 10.66
BHATIA: Final Dividend - Rs. - 0.02
DSSL: Interim Dividend - Rs. - 0.50
KPEL: Interim Dividend - Rs. - 0.10
NICCOPAR: Interim Dividend - Rs. - 0.35

*IPO*
Orient Technologies: 21-Aug-24; Close: 23-Aug-24

*Buyback*
Mayur Uniquoters: Ex-Date: 23-Aug-24
VLS Finance: Ex-Date: 26-Aug-24
KDDL: Ex-Date: 27-Aug-24
Technocraft Industries: Ex-Date: 27-Aug-24
Suprajit Engineering: Ex-Date: 27-Aug-24
Navneet Education: 20-Aug-24; Close: 26-Aug-24
TTK Prestige: 21-Aug-24; Close: 27-Aug-24
Cera Sanitaryware: 22-Aug-24; Close: 28-Aug-24
Savita Oil Technologies: 22-Aug-24; Close: 28-Aug-24

*Bonus*
Garment Mantra Lifestyle: Bonus Issue 1:1; Ex-Date: 23-Aug-24
Central Depository Services (I): Bonus Issue 1:1; Ex-Date: 23-Aug-24
VST Industries: Bonus Issue 10:1; Ex-Date: 30-Aug-24

*Stock Split*
Money Masters Leasing: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Aug-24
Aditya Vision: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 27-Aug-24
Bondada Engineering: Stock Split From Rs.10/- to Rs.2/-; Ex-Date: 02-Sep-24

*Right Issue*
Vishvprabha Ventures: Ex-Date: 06-Sep-24
Nirman Agri Genetics: 05-Aug-24; Close: 23-Aug-24
Swiss Military Consumer Goods: 23-Aug-24; Close: 06-Sep-24
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24

Stocks Picker Articles

22 Aug 2024 04:41

*Fund Houses Recommendations*


UBS on *Shyam Metaliks:* Initiate Buy on Company, target price at Rs 1200/Sh (Positive)

Jefferies on *Indigo:* Upgrade to Buy on Company, raise target price at Rs 5225/Sh (Positive)

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

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

Nomura on *Zomato:* Maintain Buy on Company, target price at Rs 280/Sh (Positive)

Elara on *Zomato:* Maintain Buy on Company, target price at Rs 320/Sh (Positive)

Bernstein on *Zomato:* Maintain Outperform on Company, target price at Rs 275/Sh (Positive)

UBS on *Zomato:* Maintain Buy on Company, target price at Rs 320/Sh (Positive)

Nuvama on Home Decor: *Venus Pipes, Somany Ceramics and APL Apollo* as the top picks in the sector. (Positive)

Jefferies on *Hotels:* RevPAR growth for Indian Hotel industry rebounded in July to 16% YoY vs muted Q1 (Positive)

Emkay on *Union Bank:* Maintain Reduce on Bank, cut target price at Rs 130/Sh (Neutral)

Citi on *PayTM:* Maintain Sell on Company, raise target price at Rs 440/Sh (Neutral)

Emkay on *Zomato:* Maintain Buy on Company, target price at Rs 270/Sh (Neutral)

BofA on *Maruti:* Maintain Neutral on Company, cut target price at Rs 14200/Sh (Neutral)

Stocks Picker Articles

21 Aug 2024 05:09

Corporate Actions

Indian Toners & Developers has approved the proposal for Buyback of upto 4,58,268 equity shares comprising of 4.22% of equity capital. at a price of Rs. 450/- per Equity Share, for an aggregate amount not exceeding Rs. 20.62 Crores, on a proportionate basis through the Tender Offer route. Record date is Friday, 30th August, 2024.

Weizmann has approved the proposal for buyback of up to 3,65,169 Equity Shares representing 9.2% of total equity share capital, at a price of ₹ 160/- per Equity Share, for an aggregate amount not exceeding ₹ 5.84 Crores, on a proportionate basis, through the “tender offer” route. The Company has fixed Friday, 30th August, 2024, as the Record Date.

Dividend

21-Aug-24
SUMEDHA: Final Dividend - Rs. - 1.00
UNIPARTS: Interim Dividend - Rs. - 6.75
SNOWMAN: Interim Dividend - Rs. - 1.00
EMAMIPAP: Final Dividend - Rs. - 1.60
GATEWAY: Interim Dividend - Rs. - 1.25
LINC: Final Dividend - Rs. - 5.00
BBL: Dividend - Rs. - 35.00
INDIAGLYCO: Final Dividend - Rs. - 8.00
PFIZER: Final Dividend - Rs. - 35.00
ENGINERSIN: Final Dividend - Rs. - 1.00
ITDCEM: Final Dividend - Rs. - 1.70
MUFTI: Final Dividend - Rs. - 0.50
HAL: Final Dividend - Rs. - 13.00
ISGEC: Dividend - Rs. - 4.00
VIDHIING: Interim Dividend - Rs. - 1.00
SATIA: Interim Dividend - Rs. - 0.10
RAJPALAYAM: Dividend - Rs. - 0.60
SYMPHONY: Interim Dividend - Rs. - 1.00
KPIGREEN: Interim Dividend - Rs. - 0.20

22-Aug-24
LGBBROSLTD: Dividend - Rs. - 18.00
KAKATCEM: Final Dividend - Rs. - 3.00
MAZDA: Final Dividend - Rs. - 16.00
PANAMAPET: Final Dividend - Rs. - 4.00
OMAXAUTO: Final Dividend - Rs. - 1.00
ASTERDM: Final Dividend - Rs. - 2.00
SIRCA: Final Dividend - Rs. - 1.50
AAL: Final Dividend - Rs. - 1.50
GOLDIAM: Interim Dividend - Rs. - 1.00
GLOBUSSPR: Dividend - Rs. - 3.50
IRFC: Final Dividend - Rs. - 0.70
RELAXO: Final Dividend - Rs. - 3.00
BENARAS: Final Dividend - Rs. - 25.00
HESTERBIO: Dividend - Rs. - 6.00
JINDALSTEL: Final Dividend - Rs. - 2.00
INVPRECQ: Final Dividend - Rs. - 1.00
HINDWAREAP: Final Dividend - Rs. - 0.40
GCSL: Final Dividend - Rs. - 0.30


IPO
Interarch Building Products: 19-Aug-24; Close: 21-Aug-24
Orient Technologies: 21-Aug-24; Close: 23-Aug-24

Buyback
Symphony: Ex-Date: 21-Aug-24
Mayur Uniquoters: Ex-Date: 23-Aug-24
VLS Finance: Ex-Date: 26-Aug-24
KDDL: Ex-Date: 27-Aug-24
Technocraft Industries: Ex-Date: 27-Aug-24
Suprajit Engineering: Ex-Date: 27-Aug-24
Indus Towers: 14-Aug-24; Close: 21-Aug-24
Navneet Education: 20-Aug-24; Close: 26-Aug-24
TTK Prestige: 21-Aug-24; Close: 27-Aug-24

Bonus
Sprayking: Bonus Issue 1:1; Ex-Date: 21-Aug-24
Garment Mantra Lifestyle: Bonus Issue 1:1; Ex-Date: 23-Aug-24
Central Depository Services (I): Bonus Issue 1:1; Ex-Date: 23-Aug-24
VST Industries: Bonus Issue 10:1; Ex-Date: 30-Aug-24

Stock Split
Money Masters Leasing: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Aug-24
Aditya Vision: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 27-Aug-24
Bondada Engineering: Stock Split From Rs.10/- to Rs.2/-; Ex-Date: 02-Sep-24

Right Issue
Vishvprabha Ventures: Ex-Date: 06-Sep-24
Nirman Agri Genetics: 05-Aug-24; Close: 23-Aug-24
Swiss Military Consumer Goods: 23-Aug-24; Close: 06-Sep-24
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24

Stocks Picker Articles

21 Aug 2024 04:46

Stock in Action

IRCTC: IRCTC has an enviable position in the domestic travel and tourism industry with its monopoly in railway ticketing, catering, and packaged water business along with its affordable tourism packages. With high-margin internet ticketing almost reaching saturation, the incremental margin drivers may be absent. However, the company has predictable mid-teens earnings growth and could present a tactical investing opportunity should the stock correct. The revenue was decent YoY, thanks to catering, Rail Neer (packaged drinking water), and a steady show by internet ticketing. The revenue was decent YoY, thanks to catering, Rail Neer, and a steady show by internet ticketing. The penetration of internet ticketing is over 84 percent and is unlikely to increase much. The medium-term driver could be the addition of 475 Vande Bharat trains over the next three years. This addition will provide a fillip to catering and Rail Neer as well. While the management is banking on the non-convenience fee to drive the growth in internet ticketing, we see only a gradual improvement. All the businesses will report moderate organic growth unless there is meaningful capacity addition in passenger trains. The management feels that the starting of the Dedicated Freight Corridor will free up capacity for the addition of passenger trains. Therefore, the financial performance will be modest with a 17% earnings CAGR between FY24 and FY26e. While the top-line traction will be healthy, the declining share of the high-margin internet ticketing is likely to suppress earnings. Positive on IRCTC given the decent set of 1QFY25 performance.

Shriram Finance Ltd.: Shriram Finance Ltd., one of India’s largest retail asset financing Non-Banking Finance Companies, witnessed Assets under Management (AUM) growth of 3.82% and 20.82% on QoQ and YoY basis, respectively, to Rs. 2.33 trillion in 1QFY25. Net interest income (NII) grew marginally QoQ and 21.28% YoY to Rs. 55,548.7 million. Net interest margin contracted 2.55% sequentially but expanded 5.52% YoY to 8.79% in the quarter. Profit after tax came in at Rs. 20,294.7 million, marking a rise of 0.55% QoQ and 18.60% YoY aided by the robust AUM growth. In terms of asset quality, Gross NPA improved sequentially to 5.39% compared with 5.45% in the prior quarter and 6.03% in the year ago quarter. Net NPA of 2.71% remianed flat QoQ and declined from 2.96% in 1QFY24. These were results of strong collection efforts. The CRAR stood at 20.29% of which Tier I CRAR was 19.47%. The Liquidity Coverage Ratio was 255.19 % as of Jun 30, 2024. ROA and ROE in the quarter were 3.12% and 16.03%, both improving on YoY basis. Shriram Finance has a well-entrenched pan India network with 3,095 branch offices of which 1,648 are located in the rural sector. Its consistent track record and high growth potential has attracted reputed institutional and private equity investors to infuse growth capital. Going forward, the company is well positioned to capitalize on the diversified AUM mix and enhanced cross-selling opportunities. Management expects the cost of funds to remain stable in the upcoming term and shorter-term, high-yield products to support strong margins. Positive on Shriram Finance given its good set of 1QFY25 numbers, extensive presence in India, enhanced cross-selling opportunities ans improving asset quality.

Stocks Picker Articles

21 Aug 2024 04:46

*Cyient:* Company is likely to sell 14.5% stake (1.15 crore shares) in Cyient DLM via block deals. Issue size of the deal is at ₹860.9 crore (Neutral)

*GE T&D India:* Promoter group likely to sell minority stake in company. Promoter group intends to sell stake in the company to simplify its holding structure (Neutral)

*Reliance:* Jio adds 19.11 lakh users vs 21.95 lakh users MoM (Neutral)

*Bharti Airtel:* Company adds 12.52 lakh users vs 12.50 lakh users MoM. (Neutral)

*Voda Idea:* Company loses 8.60 lk users vs loss of 9.24 lk users (MoM) (Neutral)

*GIC Housing:* Company says not aware of any development regarding report "GIC re weighs options for its holding in GICHFL, including stake sale" (Neutral)

*Infosys:* IT employee union seeks government intervention for Infosys fresher onboarding delay issue. (Neutral)

*Tech Mahindra:* Company's sale of Hyderabad property to Mahindra University represents significant shift in company’s asset portfolio. (Neutral)

*Zaggle:* Zuzu Software Services sold 4% stake in Zaggle Prepaid via open market (Neutral)

*Reliance Ind:* India Antitrust body sends warning notice to Disney & Reliance on their $8.5BLN India merger (Neutral)

*Tata Chemicals:* Board of Directors approves issue of NCDs worth ₹1,700 crore, on private placement basis. (Neutral)

*NHPC:* Landslide at Teesta-V power station (510 MW) of the company in Sikkim. (Negative)

Stocks Picker Articles

20 Aug 2024 05:29

Corporate Actions

Saraswati Saree Depot’s shares are set to debut on the stock exchanges on Tuesday. The issue price is fixed at Rs 160.

Tata Motors and Tata Motors DVR sets September 1 as record date for share capital reduction scheme.

Sapphire Foods sets 5 September record date for stock split.

Dividend

20-Aug-24
OMNITEX: Interim Dividend - Rs. - 8.00
CENTENKA: Final Dividend - Rs. - 10.00
NPL: Dividend - Rs. - 12.50
SOUTHBANK: Final Dividend - Rs. - 0.30
JKPAPER: Final Dividend - Rs. - 5.00
CORALFINAC: Final Dividend - Rs. - 0.40
SANGHVIMOV: Final Dividend - Rs. - 6.00
RAIN: Interim Dividend - Rs. - 1.00
SUNTV: Interim Dividend - Rs. - 5.00
APARINDS: Final Dividend - Rs. - 51.00
INDOBORAX: Final Dividend - Rs. - 1.00
RATNAMANI: Final Dividend - Rs. - 14.00
AIAENG: Dividend - Rs. - 16.00
PIIND: Final Dividend - Rs. - 9.00
LALPATHLAB: Interim Dividend - Rs. - 6.00
IRB: Interim Dividend - Rs. - 0.10
PHOENIXLTD: Final Dividend - Rs. - 5.00
MITSU: Final Dividend - Rs. - 0.20
BALKRISIND: Interim Dividend - Rs. - 4.00
TITAGARH: Dividend - Rs. - 0.80

21-Aug-24
SUMEDHA: Final Dividend - Rs. - 1.00
UNIPARTS: Interim Dividend - Rs. - 6.75
SNOWMAN: Interim Dividend - Rs. - 1.00
EMAMIPAP: Final Dividend - Rs. - 1.60
GATEWAY: Interim Dividend - Rs. - 1.25
LINC: Final Dividend - Rs. - 5.00
BBL: Dividend - Rs. - 35.00
INDIAGLYCO: Final Dividend - Rs. - 8.00
PFIZER: Final Dividend - Rs. - 35.00
ENGINERSIN: Final Dividend - Rs. - 1.00
ITDCEM: Final Dividend - Rs. - 1.70
MUFTI: Final Dividend - Rs. - 0.50
HAL: Final Dividend - Rs. - 13.00
ISGEC: Dividend - Rs. - 4.00
VIDHIING: Interim Dividend - Rs. - 1.00
SATIA: Interim Dividend - Rs. - 0.10
RAJPALAYAM: Dividend - Rs. - 0.60
SYMPHONY: Interim Dividend - Rs. - 1.00
KPIGREEN: Interim Dividend - Rs. - 0.20

IPO
Interarch Building Products: 19-Aug-24; Close: 21-Aug-24
Orient Technologies: 21-Aug-24; Close: 23-Aug-24

Buyback
AIA Engineering: Ex-Date: 20-Aug-24
Symphony: Ex-Date: 21-Aug-24
Mayur Uniquoters: Ex-Date: 23-Aug-24
VLS Finance: Ex-Date: 26-Aug-24
KDDL: Ex-Date: 27-Aug-24
Technocraft Industries: Ex-Date: 27-Aug-24
Suprajit Engineering: Ex-Date: 27-Aug-24
Indus Towers: 14-Aug-24; Close: 21-Aug-24
Navneet Education: 20-Aug-24; Close: 26-Aug-24
TTK Prestige: 21-Aug-24; Close: 27-Aug-24

Bonus
PVV Infra: Bonus Issue 1:1; Ex-Date: 20-Aug-24
Sprayking: Bonus Issue 1:1; Ex-Date: 21-Aug-24
Garment Mantra Lifestyle: Bonus Issue 1:1; Ex-Date: 23-Aug-24
Central Depository Services (I): Bonus Issue 1:1; Ex-Date: 23-Aug-24
VST Industries: Bonus Issue 10:1; Ex-Date: 30-Aug-24

Stock Split
Money Masters Leasing: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Aug-24
Aditya Vision: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 27-Aug-24
Bondada Engineering: Stock Split From Rs.10/- to Rs.2/-; Ex-Date: 02-Sep-24

Right Issue
Vishvprabha Ventures: Ex-Date: 06-Sep-24
Nirman Agri Genetics: 05-Aug-24; Close: 23-Aug-24
Swiss Military Consumer Goods: 23-Aug-24; Close: 06-Sep-24
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24

Stocks Picker Articles

20 Aug 2024 05:00

Stock in Action

Firstsource Solutions Ltd.: Firstsource Solutions, a global provider of specialist domain-led Business Process Services, seems well-poised to benefit from the expected recovery in overall demand in H2FY25 and a likely rate cut announcement from the Federal Reserve towards the end of the year. The company reported strong 1QFY25 results with revenue from operations of Rs. 17,911 million (US$ 215 million) rising 7.2% QoQ and 17.1% YoY. EBIT came in at Rs. 1,970 million, increasing 7.7% QoQ and 10.1% YoY. The EBIT margin remained flat QoQ and declined slightly by 70bps to 11% in the quarter. PAT experienced QoQ and YoY growth of 1.3% and 7.4%, respectively, to Rs. 1,353 million. The company signed three strategically large deals in Q1FY25 and added 10 new logos across the BFS, Healthcare, and CMT verticals. The attrition rate came down to 32% in 1QFY25 from 41.7% in 1QFY24. Management expects a continued downward trend in attrition rate, supported by employee‐focused initiatives aimed at enhancing overall employee experience and satisfaction. Going forward, Firstsource has a robust pipeline, reflecting the efficacy of a diversified portfolio. For FY25, the company expects constant currency revenue growth in the range of 11.5-13.5%, up from its earlier projection of 10-13%. Guidance for EBIT margin was retained at 11-12%. Positive on Firstsource Solutions given its good set of 1QFY25 numbers and an expected recovery in the IT sector in H2FY25.

Blue Star Ltd.: Blue Star reported strong 1QFY25 revenue growth of 28.7% YoY led by strong performance from Unitary products segment, which grew by 44.3% YoY and Professional Electronics and Industrial Systems which grew by 23.5% YoY. EMP & Commercial AC segment also reported modest growth of 9.5% YoY. Strong growth coupled with benign input cost benefit flowed through to operating performance with EBITDA growing by 64% YoY to Rs. 240 crore. OPM also expanded by 179bps YoY to 8.3%. Adj. PAT more than doubled to Rs 170 crore and margin improved by 215bps YoY to 5.9%. Apart from strong operating leverage, lower finance cost and higher other income by 2.5x YoY fuelled growth. Unitary Product delivered strong result on the back of high demand for Air Conditioners due to harsh summer season. Expansion plans in North America and Europe are moving as per the timeline. As the elections are over, the management is hopeful of more order inflows and order finalizations in the EMP segment in the next 2-3 months. The management remains positive of future growth in both domestic and international business. Positive on Blue Star ltd. given the strong set of 1QFY25 performance.

Stocks Picker Articles

20 Aug 2024 05:00

*Stocks in News*


*Sequent Scientific:* Company gets prequalification approval from WHO for Albendazole API (Positive)

*Allcargo logistics:* International supply chain monthly operational volume for the month of July stood at 818’000 cubic meters similar to its highest ever monthly volume which was recorded in AUG 2022 (Positive)

*Zodiac Energy:* Net profit at Rs 2.33 cr vs Rs 0.82 cr, Revenue at Rs. 79.59 cr vs Rs 32.54 cr (YoY) (Positive)

*Quess Corp:* Company gets BSE & NSE approval for demerger process. (Positive)

*Hazoor Multi Projects:* Company emerges as lowest bidder for Maharashtra State Infra Development Corp project worth Rs 274 crore (Positive)

*Nucleus software:* Board of Directors meeting is scheduled to be held on August 22 to consider the proposal for Buy Back of Equity Shares of the Company. (Positive)

*Finkurve Financial:* Company has entered into a co-lending arrangement with RBL bank, collaboration establishes a significant strategic partnership aimed for offering gold loan (Positive)

*Tata Motors and Tata Motors DVR:* Company sets September 1 as official record date for share capital reduction scheme. (Positive)

*Suraj Estate:* Board approves raising of funds via issue of 56 lakh shares on preferential basis. (Positive)

*IndusInd Bank:* Gets RBI nod to launch asset management subsidiary. (Positive)

*DCM Shriram:* Company successfully commissioned a new Hydrogen Peroxide (H₂O₂) plant (Positive)

*Zomato:* Antfin Singapore likely to sell 1.54% stake of Zomato via block deals at floor price of Rs 251.68/share (Neutral)

*Vedanta:* Shareholding in arm Hindustan Zinc falls to 63.42% after offer for sale (Neutral)

*Vishnu chemicals:* Company announced the 100% equity acquisition of jayansree pharma pvt ltd at an enterprise value of Rs 51.99 cr (Neutral)

*Investment Trust of India:* Company BSE returned demerger application of 'non-lending business undertaking' to company (Neutral)

*Poly Medicure:* Company launches QIP to raise ₹1,000 crore, offering shares at ₹1,850-₹1,880 each. (Neutral)

*Bharti Airtel and Vodafone Idea:* Companies struggle to comply with DoT's demand for legacy network assessment. (Neutral)

*Hi-Tech Pipes:* Company to raise funds up to ₹600 crore via QIP or other modes (Neutral)

*Sapphire Foods:* KFC operator sets 5 September record date for upcoming stock split (Neutral)

*Bank of Baroda:* 10-year infrastructure bond issue likely to have base size of Rs 2,000 crore and green shoe option of Rs 3,000 crore. (Neutral)

*Axis Bank:* Delhi High Court directs SEBI and RBI to expedite investigation into allegations of fraudulent gains by Axis Bank and its affiliates. (Neutral)

*Tata Consumer:* Company announces completion of its Rs 3,000 crore rights issue. (Neutral)

*ZOMATO:* Antfin Singapore likely to sell 1.54% stake of Zomato via block deals at floor price of Rs 251.68/share (Neutral)

*Bajaj Auto:* Makes provision of ₹211 cr on capital gains change (Negative)

*HCL Tech:* Prateek Aggarwal, CFO of HCL Tech has resigned to pursue opportunities outside the company. (Negative)

Stocks Picker Articles

19 Aug 2024 05:19

*Fund Houses Recommendations*


Jefferies on *Entero Health:* Initiate Buy on Company, target price at Rs 1510/Sh (Positive)

Jefferies on *Voltas:* Maintain Buy on Company, raise target price at Rs 1770/Sh (Positive)

Nomura on *Voltas:* Maintain Buy on Company, raise target price at Rs 1857/Sh (Positive)

UBS on *Voltas:* Maintain Buy on Company, raise target price at Rs 1960/Sh (Positive)

Jefferies on *Sunteck:* Maintain Buy on Company, raise target price at Rs 690/Sh (Positive)

Nuvama on *Sunteck:* Maintain Buy on Company, raise target price at Rs 690/Sh (Positive)

MOSL on *Glenmark Pharma:* Upgrade to Buy on Company, raise target price at Rs 1850/Sh (Positive)

HSBC on *Auro Pharma:* Maintain Buy on Company, target price at Rs 1625/Sh (Positive)

HSBC on *Shriram Fin:* Maintain Buy on Company, raise target price at Rs 3600/Sh (Positive)

JP Morgan on *Persistent:* Maintain Overweight on Company, raise target price at Rs 5300/Sh (Positive)

JP Morgan on *KPIT Tech:* Maintain Neutral on Company, raise target price at Rs 1700/Sh (Positive)

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

Emkay on *Suprajit:* Maintain Buy on Company, target price at Rs 725/Sh (Positive)

UBS on *Zomato:* Maintain Buy on Company, target price at Rs 320/Sh (Positive)

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

Systematix on *Patanjali:* Initiate Buy on Company, target price at Rs 2259/Sh (Positive)

Nuvama on *India Strategy:* Expects consumer, private banks, insurance, IT to lead growth in Indian equity market. (Positive)

Citi on *India Strategy:* Good ‘beats’ in Industrials and Discretionary, which saw strong growth (Positive)

JPMorgan on *India Strategy:* Continue to prefer longer-term capex story via Industrials, Real Estate and Financial sector. Upgrade *Consumer Staples* to overweight (Positive)

JPMorgan on *India Strategy:* Downgrade Auto to neutral (Neutral)

Bank of America *India Strategy:* Nifty earnings +3% YoY; ex-Financials/Energy +19% YoY (Neutral)

CLSA on *Steel:* India initiates anti-dumping investigation against imports from Vietnam (Neutral)

JP Morgan on *LTTS:* Maintain Overweight on Company, cut target price at Rs 5500/Sh (Neutral)

JP Morgan on *Cyient:* Maintain Overweight on Company, cut target price at Rs 2100/Sh (Neutral)

JP Morgan on *Tata Tech:* Maintain Underweight on Company, cut target price at Rs 750/Sh (Neutral)

JP Morgan on *Tata Elxsi:* Maintain Underweight on Company, target price at Rs 5700/Sh (Neutral)

Kotak on *Voltas:* Maintain Sell on Company, target price at Rs 1100/Sh (Neutral)

CLSA on *Voltas:* Maintain Underperform on Company, target price at Rs 1310/Sh (Neutral)

ICICI on *Mazdock:* Maintain Sell on Company, target price at Rs 1165/Sh (Neutral)

Stocks Picker Articles

19 Aug 2024 04:57

Stock in Action

Borosil Ltd.: Borosil Ltd., one of the leading brands in glass microwavables and largest Opalware player in India, reported healthy 1QFY25 results. Revenue from operations rose 23.2% YoY to Rs. 216.81 crore in the quarter. The glassware segment’s revenue was up 42.2% YoY to Rs. 55.7 crore while the non-glassware sales grew 20.3% to Rs. 85.1 crore. The Opalware segment’s revenues increased 15% to Rs. 76.1 crore. EBITDA of Rs. 28.96 crore jumped 51.8% QoQ and 47.2% YoY. The EBITDA margin expanded 510 bps QoQ and 220 bps YoY to 13.4% in the first quarter. PAT of Rs. 9.29 crore increased a whopping 82.9% QoQ and 87.7% YoY. Borosil boasts a 62 year legacy and enjoys strong consumer equity in serving-ware, kitchen appliance and storage. Over the last six years, the company’s revenue and operating EBITDA have grown at a CAGR of 24.8% and 36.5%, respectively. Moreover, since its acquisition in 2016, Larah Opalware has gained significant market share and has become one of the leading player in the Rs. 1400 crore category. Larah’s revenues have grown at a CAGR of 22% from FY16-17 to FY23-24. Going forward, Borosil’s ability to offer a diverse, high-quality product range that spans across multiple segments at affordable prices is likely to continue to drive demand for its products. Its focus on developing innovative products to meet evolving customer needs led by a strong in-house New Product Development team gives it a competitive edge. Positive on Borosil Ltd. given its good set of 1QFY25 numbers, leading market position in the Opalware category, affordability of products and focus on developing new products to meet customer demand.

Hero MotoCorp: Hero MotoCorp registered strong growth in volumes and operating profit. Company is seeing a surge in demand, particularly in rural areas, supported by the positive monsoon sentiment. This resulted in a volume growth of 13.5% YoY basis in the June 2024 quarter. Similarly, its operating profit margin expanded by 59 basis points on a YoY basis, led by a favourable product mix and a correction in raw material costs. The management has indicated that there is a sizeable uptick in demand in the rural market, which is expected to further benefit from government’s economic measures and seasonal factors. Company is optimistic about the growth prospects for the two-wheeler industry, encompassing both entry-level and premium categories. With commodity prices remaining stable, expectations of a good monsoon, and government spending expected to increase, the company sees multiple tailwinds for the sector in the coming quarters. Additionally, the market share for 125cc increased sharply from 13% in Q4FY24 to 20% in Q1FY25. However, there is a limited supply to meet strong demand. The company is working to increase production to capitalise on this opportunity, which is expected to be the key driver for the current fiscal. Company is actively working on reducing manufacturing cost through technological advancement and localisation which should help launch more affordable EV products and improve margins. Positive on Hero MotoCorp given the surge in demand, particularly in rural areas, supported by the positive monsoon sentiment.

Stocks Picker Articles

19 Aug 2024 04:57

*Stocks in News*


*Caplin Point Labs:* Injectibles plant in TN receives 0 observations from Brazil's ANVISA (Positive)

*DCX Systems:* Receives Rs 107 cr order from Domestic & Overseas Customers (Positive)

*Oil upstream stocks:* Windfall Tax on crude cut to ₹2,100 from ₹4,600/tonne w.e.f. August 17 (Positive)

*TMB:* RBI approves appointment of Salee Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank for 3 years. (Positive)

*Tejas Networks:* Arm receives Rs 96cr order for satellite equipment from NewSpace India (CPSE) (Positive)

*Yes Bank:* Sumit Bali to join Yes Bank as Country Head, Retail Assets & Collection. (Positive)

*KPI Green Energy:* Morgan Stanley took allocation at 935/- (Positive)

*Escorts Kubota:* Company investment intent submitted to Uttar Pradesh government to acquire land, Company land intended to set up integrated Greenfield manufacturing facility. (Positive)

*Great Eastern Shipping:* Company took delivery of a 2013 built medium range product tanker, Company had contracted to buy vessel in Q1FY25. (Positive)

*ACE:* Company has been awarded with order for supply of 285 numbers for special forklifts and 6 numbers of rough terrain cranes with 30 tonne lifting capacity from ministry of defense. (Positive)

*Vivanta Industries:* Company got order worth Rs 260 Million for procurement of medicines, machines & technology (Positive)

*Techno Electric:* Company partners with IndiGrid for developing Greenfield transmission projects (Positive)

*TVS Motor:* CEO says to expand electric 2W sales in both developing, developed markets (Positive)

*Jubilant Pharmova:* Company’s unit, Jubilant Biosys to add drug discovery & preclinical development capabilities. (Positive)

*Samvardhana Motherson:* Company has incorporated unit Motherson international ltd, Abu Dhabi, unit being acquired belongs manufacturing, assembling and related activities (Positive)

*TCNS Clothings:* NCLT approved merger of TCNS Clothing into ABFRL (Positive)

*Urja global:* Company announces pre-launch of high-speed electric scooter "Chetna" with homologation certificate and RTO registration (Positive)

*Bata:* MD & CEO says consumption to revive in coming quarters, e-commerce to drive growth (Positive)

*GMR Airports:* July Passenger Traffic Up 7.7% YoY At 1.06 Cr (Positive)

*Piramal Enterprises:* Company's promoter group acquires 0.27% stake in company. (Positive)

*KPI Green:* Morgan Stanley, BoFa Securities participate in QIP (Positive)

*Five Star Business:*Promoters and KMP to participate in Rs 32cr via pref issue (Positive)

*Kalpataru:* JV received two arbitration awards in its favour against National Highways Authority of India (Positive)

*Soan Coms:* Received certification for another Product i.e. Hub Wheel Motor for electric two wheelers under the Production-Linked Incentive (“PLI”) Scheme (Positive)

*Brigade:* Company and Accor Launch ibis Styles Mysuru, their fourth hotel. (Positive)

*Mphasis:* Appoints Aravind Viswanathan as the CFO of the company with immediate effect (Neutral)

*Fedbank Fin:* Board Meeting to be held on 22-Aug-2024 to consider Fund raising. (Neutral)

*Hindustan Zinc:* Promoter Vedanta to exercise oversubscription option in offer for sale (Neutral)

*L&T Finance:* Transitions to NBFC-ICC following subsidiary merger (Neutral)

*SBI/PNB:* Karnataka govt puts circular prohibiting all dealings with SBI, PNB on hold for 15 days (Neutral)

*BSE:* Company to pay differential regulatory fee directed by SEBI of Rs 1.67 Billion vs provision of Rs. 1.7 Billion. (Neutral)

*Saurashtra cement:* Company stoppage of kiln at Sidheegram plant would continue for another 10 days; stoppage of KILN on account of high clinker inventory. (Neutral)

*SBI Life:* Company in pact with Paralympic Committee of India as Gold Sponsor for Paris 2024 Paralympic Games (Neutral)

*SBI:* Bank hikes marginal cost of funds-based lending rate by 10 basis points (Neutral)

*Kolte Patil:* CFO Khiroda Jena resigns (Neutral)