Stocks Picker Articles

16 Sep 2024 05:26

Right Issue
Modern Engineering: Open: 05-Sep-24; Close: 17-Sep-24
Ducon Infratechnologies: Open: 12-Sep-24; Close: 19-Sep-24
Sru Steels: Open: 09-Sep-24; Close: 24-Sep-24
Ganesha Ecoverse: Open: 20-Sep-24; Close: 24-Sep-24
Vardhman Polytex: Open: 12-Sep-24; Close: 27-Sep-24
Oriental Trimex: Open: 19-Sep-24; Close: 27-Sep-24
Akshar Spintex: Open: 09-Sep-24; Close: 30-Sep-24
Patel Integrated Logistics: Open: 19-Sep-24; Close: 01-Oct-24
Srivari Spices And Foods: Open: 24-Sep-24; Close: 03-Oct-24
Synergy Green Industries: Open: 23-Sep-24; Close: 04-Oct-24
Advik Capital: Open: 24-Sep-24; Close: 04-Oct-24
Tilak Ventures: Open: 03-Oct-24; Close: 11-Oct-24

Open Offer
Windsor Machines: Open: 13-Sep-24; Close: 27-Sep-24

Stocks Picker Articles

16 Sep 2024 05:22

Bulk Deal & Insider Trade Update

Bulk Deals
*Patanjali Foods Limited: Gqg Partners Emerging Markets Equity Fund Buy 4503762 Shares @ Rs. 1854
*Godrej Agrovet Limited: V-Sciences Investments Pte Ltd Sell 2710000 Shares @ Rs. 785.13
*Edelweiss Fin Serv Ltd: Edelweiss Employees Welfare Trust Sell 9879000 Shares @ Rs. 124
*Medi Assist Health Ser L: Hdfc Mutual Fund Buy 1250000 Shares @ Rs. 635
*Medi Assist Health Ser L: Icici Prudential Mutual Fund Buy 500000 Shares @ Rs. 635
*Medi Assist Health Ser L: Aditya Birla Sun Life Mutual Fund Buy 400000 Shares @ Rs. 635
*Picturepost Studios Ltd: Chanakya Opportunities Fund I Sell 150000 Shares @ Rs. 36
*Edelweiss: Edelweiss Employees Welfare Trust Sell 5000000 Shares @ Rs. 114.12

*Insider Trade*
*Disposal*
* Nahar Spinning Mills Ltd.: SATISH KUMAR SHARMA, Director, Disposal 4038 shares on 11-Sep-24
* Saurashtra Cement Ltd.: Promilla Khanna, Promoter Group, Disposal 15000 shares on 05-Sep-24
* Panacea Biotec Ltd.: Sandeep Jain, Promoter & Director, Disposal 33469 shares on 10-Sep-24
* Advanced Enzyme Technologies Ltd: Madhusudan Kabra, Promoter Group, Disposal 100000 shares on 11-Sep-24

*Pledge*
* India Cements Ltd.: EWS Finance & Investments Private Limited, Promoter Group, Pledge 2941200 shares on 11-Sep-24
* Star Cement Ltd: Amritansh Chamaria, Promoter Group, Pledge 200000 shares on 04-Sep-24

Stocks Picker Articles

16 Sep 2024 04:31

*Grindwell Norton:* Company executed power purchase agreement and share subscription agreement with radiance MH sunrise thirteen Pvt Ltd, towards sourcing of green energy through solar power (Neutral)

*Emcure:* Company to set up wholly-owned subsidiary Emcutix Biopharmaceuticals for manufacturing and distribution (Neutral)

*HUL:* Company files plea in Bombay High Court challenging assessment order worth Rs 963 crore received in August 2024. (Neutral)

*NLC India:* Company will invest around Rs 50,000 crore to ramp up its renewable energy capacity from 1.43 Giga Watt to 10.11 GW. (Neutral)

*Max Healthcare:* Company to acquire 64% stake in Jaypee Healthcare. (Neutral)

*Arvind Fashions:* Multiples private equity sold entire 9% via open market on September 11 (Neutral)

*Tech Mahindra:* Company plans to merge wholly-owned unit Zen3 Infosolutions with parent Tech Mahindra America (Neutral)

*Godrej Agrovet:* Temasek sells 1.4% Godrej Agrovet stake. (Neutral)

*Senco:* Shri Hamuman shri trust Sells 7.5L shares At Rs 1228 (Promoter entity) (Neutral)

*MediAssist:* MediMatter Health Management sell 33.3L at Rs 635/sh (promoter entity) (Neutral)

*Gloster:* Shri Dharam Chand Baheti has resigned as the Managing Director of the Company (Neutral)

*GMR Airtports:* Handled more than 10.6 mn passengers across all airports - up 8.7% YoY (Neutral)

*GIC Housing:* Shri Bhavik Dedhia (Chief Information Security Officer) has tendered his resignation from the services of the Company. (Neutral)

*Reliance Ind:* Reliance Brands has launched India’s first Armani/Caffè at Jio World Plaza in Mumbai's Bandra Kurla Complex. (Neutral)

*Avenue Supermarts:* Company opens new store at Madhya Pradesh. (Neutral)

*Adani Green:* Mr. Phuntsok Wangyal, Chief Financial Officer to relinquish his position as Chief Financial Officer of the Company in view of his resignation.. (Neutral)

*RPG Life:* To pay ₹32.2 crore transfer charges for ULC exemption under the amnesty scheme. (Neutral)

*Aavas Financiers:* Board meet on September 18 to consider fundraising. (Neutral)

*Aarti Drugs:* Bidding process of buyback to remain open today (Neutral)

*Systematix:* Company to allot up to 6.7 lakh shares to non-promoters on a preferential basis at Rs 1,531/share (Neutral)

*FMCG Stocks:* Import duty on crude palm, soya bean and sunflower. (Negative)

Stocks Picker Articles

13 Sep 2024 05:33

*Forthcoming Event*

13th September: Sellwin Traders to consider Bonus issue & Stock Split; Bigbloc Construction to consider Bonus issue; Niraj Cement Structurals to consider Fund Raising

14th September: Ester Industries to consider Fund Raising

16th September: Antarctica, Sandur Manganese & Iron Ores to consider Fund Raising

17th September: AYM Syntex, Jonjua Overseas to consider Fund Raising

18th September: JWL to consider Dividend; SBI Cards and Payment Services to consider Fund Raising

20th September: Godfrey Phillips India to consider Bonus issue

Stocks Picker Articles

13 Sep 2024 05:33

*Corporate Actions*

*Dividend*

*13-Sep-24*
JAGRAN: Final Dividend - Rs. - 5.00
MORARKFI: Final Dividend - Rs. - 6.00
MONTECARLO: Final Dividend - Rs. - 20.00
RUSHIL: Final Dividend - Rs. - 1.00
POOJA: Final Dividend - Rs. - 1.00
EMPIND: Final Dividend - Rs. - 25.00
GIPCL: Final Dividend - Rs. - 3.95
POLYCHMP: Final Dividend - Rs. - 1.00
RUBFILA: Final Dividend - Rs. - 1.20
COMCL: Final Dividend - Rs. - 0.50
ACCEL: Final Dividend - Rs. - 0.30
SCHAND: Final Dividend - Rs. - 3.00
SHILGRAVQ: Final Dividend - Rs. - 2.10
NCLIND: Final Dividend - Rs. - 2.50
HUDCO: Final Dividend - Rs. - 2.65
INDRAMEDCO: Final Dividend - Rs. - 4.50
VGCL: Final Dividend - Rs. - 0.75
PODDARMENT: Final Dividend - Rs. - 4.00
SKPSEC: Final Dividend - Rs. - 1.50
APMIN: Final Dividend - Rs. - 0.50
REMSONSIND: Final Dividend - Rs. - 1.50
WSFX: Final Dividend - Rs. - 1.00
TRANSPEK: Dividend - Rs. - 14.00
ASIIL: Dividend - Rs. - 0.35
MURUDCERA: Final Dividend - Rs. - 0.50
PNBGILTS: Final Dividend - Rs. - 1.00
SPECIALITY: Final Dividend - Rs. - 1.00
RUBYMILLS: Final Dividend - Rs. - 1.75
MKEXIM: Final Dividend - Rs. - 0.50
CSLFINANCE: Final Dividend - Rs. - 2.50
CORDSCABLE: Final Dividend - Rs. - 1.00
CEEJAY: Final Dividend - Rs. - 1.20
KLBRENG-B: Final Dividend - Rs. - 2.00
TECHNOE: Final Dividend - Rs. - 7.00
BGWTATO: Final Dividend - Rs. - 2.00
BEML: Final Dividend - Rs. - 15.50
SUPERHOUSE: Final Dividend - Rs. - 0.80
BANARISUG: Dividend - Rs. - 12.50
ARIHANTSUP: Final Dividend - Rs. - 1.20
KIRLFER: Final Dividend - Rs. - 2.50
CEINSYSTECH: Final Dividend - Rs. - 2.50
KCPSUGIND: Dividend - Rs. - 0.20
ARIES: Final Dividend - Rs. - 1.00
KRSNAA: Final Dividend - Rs. - 2.50
AMRUTANJAN: Final Dividend - Rs. - 2.60
STOVEKRAFT: Final Dividend - Rs. - 2.50
HPAL: Final Dividend - Rs. - 0.30
CCL: Final Dividend - Rs. - 2.00
LANDMARK: Final Dividend - Rs. - 1.50
DIAMONDYD: Dividend - Rs. - 2.00
PRECWIRE: Final Dividend - Rs. - 0.45
LINCOLN: Final Dividend - Rs. - 1.80
MANAKALUCO: Final Dividend - Rs. - 0.07
FOODSIN: Final Dividend - Rs. - 0.30
AMIORG: Final Dividend - Rs. - 3.00
ASTAR: Dividend - Rs. - 1.50
PAISALO: Final Dividend - Rs. - 0.10
MPILCORPL: Final Dividend - Rs. - 0.90
GLENMARK: Final Dividend - Rs. - 2.50
CHEMFAB: Final Dividend - Rs. - 1.25
PITTIENG: Final Dividend - Rs. - 1.50
HALDER: Final Dividend - Rs. - 1.00
SHAILY: Final Dividend - Rs. - 1.00
DOMS: Final Dividend - Rs. - 2.50
SHRJAGP: Final Dividend - Rs. - 0.75
PRUDENT: Final Dividend - Rs. - 2.00
HBLPOWER: Final Dividend - Rs. - 0.50
GRSE: Final Dividend - Rs. - 1.44
HARIOMPIPE: Final Dividend - Rs. - 0.60
MANAKCOAT: Final Dividend - Rs. - 0.050
MIIL: Final Dividend - Rs. - 0.10
HITECH: Final Dividend - Rs. - 0.0250

*IPO*
Western Carriers (India): 13-Sep-24; Close: 18-Sep-24
Arkade Developers: 16-Sep-24; Close: 19-Sep-24
Northern Arc Capital: 16-Sep-24; Close: 19-Sep-24

*Buyback*
Nucleus Software Exports: 09-Sep-24; Close: 13-Sep-24
Transport Corporation of India: 10-Sep-24; Close: 17-Sep-24
Aarti Drugs: 11-Sep-24; Close: 18-Sep-24
Ladderup Finance: 11-Sep-24; Close: 18-Sep-24
Arex Industries: 12-Sep-24; Close: 19-Sep-24
Jai Corp: 13-Sep-24; Close: 20-Sep-24

*Bonus*
Monarch Networth Capital: Bonus Issue 1:1; Ex-Date: 13-Sep-24
Saksoft: Bonus Issue 1:4; Ex-Date: 19-Sep-24
RITES: Bonus Issue 1:1; Ex-Date: 20-Sep-24
Power Mech Projects: Bonus Issue 1:1; Ex-Date: 28-Sep-24
NBCC India: Bonus Issue 1:2; Ex-Date: 07-Oct-24

*Stock Split*
Krishna Institute: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 13-Sep-24
Onesource Ideas Venture: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24
Sportking India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24

*Right Issue*
Orient Green Power Company: Open: 27-Aug-24; Close: 13-Sep-24
Modern Engineering: Open: 05-Sep-24; Close: 17-Sep-24
Ducon Infratechnologies: Open: 12-Sep-24; Close: 19-Sep-24

Stocks Picker Articles

13 Sep 2024 04:53

*Fund Houses Recommendations*


Jefferies on *Bharti Airtel:* Maintain Buy on Company, raise target price at Rs 1970/Sh (Positive)

Jefferies on *Bharti Hexacom:* Upgrade to Buy on Company, raise target price at Rs 1600/Sh (Positive)

Citi on *Kalyan Jewel:* Maintain Buy on Company, raise target price at Rs 770/Sh (Positive)

Citi on *Titan:* Maintain Buy on Company, raise target price at Rs 4110/Sh (Positive)

CLSA on *Hindalco:* Maintain Outperform on Company, target price at Rs 760/Sh (Positive)

CLSA on *Adani Ports:* Maintain Outperform on Company, target price at Rs 1764/Sh (Positive)

Emkay on *Bajaj Finserve:* Initiate Buy on Company, target price at Rs 2150/Sh (Positive)

BofA on *Tata Motors:* Maintain Buy on Company, target price at Rs 1280/Sh (Positive)

MS on *Tata Motors:* Maintain Overweight on Company, target price at Rs 1250/Sh (Positive)

MOSL on *Granules:* Maintain Buy on Company, target price at Rs 680/Sh (Positive)

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

Bernstein on *Zomato:* Maintain Buy on Company, raise target price at Rs 330/Sh (Positive)

HSBC on *KIMS:* Initiate Buy on Company, target price at Rs 3300/Sh (Positive)

HSBC on *Apollo Hospitals:* Maintain Buy on Company, raise target price at Rs 7720/Sh (Positive)

Goldman Sachs on *CPI Inflation:* August headline inflation edged higher on food prices (Neutral)

UBS on *CPI Inflation:* Headline CPI inflation remained below 4% in August (Neutral)

Morgan Stanley on *CPI Inflation:* August CPI a tad above expectations (Neutral)

BofA on *CPI Inflation:* Food inflation remains the biggest hurdle (Neutral)

CLSA on *DLF:* Maintain Hold on Company, target price at Rs 775/Sh (Neutral)

Citi on *Samvardhan:* Maintain Sell on Company, target price at Rs 105/Sh (Neutral)

HSBC on *Medanta:* Initiate Reduce on Company, target price at Rs 930/Sh (Neutral)

HSBC on *Narayana:* Initiate Reduce on Company, target price at Rs 1000/Sh (Neutral)

Stocks Picker Articles

12 Sep 2024 05:39

Forthcoming Event

12th September: BAJAJHLDNG, MAHSCOOTER to consider Dividend; Nazara Technologies, Indo Thai Securities, Minda Corporation to consider Fund Raising

13th September: Sellwin Traders to consider Bonus issue & Stock Split; Bigbloc Construction to consider Bonus issue; Niraj Cement Structurals to consider Fund Raising

14th September: Ester Industries to consider Fund Raising

16th September: Antarctica, Sandur Manganese & Iron Ores to consider Fund Raising

17th September: Jonjua Overseas to consider Fund Raising

18th September: JWL to consider Dividend

20th September: Godfrey Phillips India to consider Bonus issue

Stocks Picker Articles

12 Sep 2024 05:39

Corporate Actions

Shree Tirupati Balajee is set to make stock market debut today, September 12. The issue price is fixed at Rs. 83 per share.

Route Mobile's promoter entity - Proximus Opal - plans to sell up to 38 lakh shares, or 6.03 percent stake through an Offer for Sale (OFS) on September 12-13. The floor price of the OFS is without any discount Rs 1,635 per share.

Dividend

12-Sep-24
NIRLON: Final Dividend - Rs. - 11.00
SPIC: Dividend - Rs. - 1.50
INDPRUD: Final Dividend - Rs. - 90.00
WEPSOLN: Final Dividend - Rs. - 0.50
MYSORPETRO: Final Dividend - Rs. - 2.50
ELDEHSG: Final Dividend - Rs. - 8.00
SICAGEN: Final Dividend - Rs. - 0.60
HALDYNGL: Final Dividend - Rs. - 0.70
SRHHYPOLTD: Final Dividend - Rs. - 3.00
SJVN: Final Dividend - Rs. - 0.65
VSTTILLERS: Final Dividend - Rs. - 20.00
PATELSAI: Final Dividend - Rs. - 3.00
BENGALASM: Final Dividend - Rs. - 40.00
EXCELINDUS: Final Dividend - Rs. - 5.50
ARROWGREEN: Final Dividend - Rs. - 2.00
MALLCOM: Final Dividend - Rs. - 3.00
AMNPLST: Dividend - Rs. - 0.50
GULPOLY: Final Dividend - Rs. - 0.30
GARFIBRES: Final Dividend - Rs. - 3.00
SKIPPER: Dividend - Rs. - 0.10
BHARATRAS: Final Dividend - Rs. - 1.50

13-Sep-24
JAGRAN: Final Dividend - Rs. - 5.00
MORARKFI: Final Dividend - Rs. - 6.00
MONTECARLO: Final Dividend - Rs. - 20.00
RUSHIL: Final Dividend - Rs. - 1.00
POOJA: Final Dividend - Rs. - 1.00
EMPIND: Final Dividend - Rs. - 25.00
GIPCL: Final Dividend - Rs. - 3.95
POLYCHMP: Final Dividend - Rs. - 1.00
RUBFILA: Final Dividend - Rs. - 1.20
COMCL: Final Dividend - Rs. - 0.50
ACCEL: Final Dividend - Rs. - 0.30
SCHAND: Final Dividend - Rs. - 3.00
SHILGRAVQ: Final Dividend - Rs. - 2.10
NCLIND: Final Dividend - Rs. - 2.50
HUDCO: Final Dividend - Rs. - 2.65
INDRAMEDCO: Final Dividend - Rs. - 4.50
VGCL: Final Dividend - Rs. - 0.75
PODDARMENT: Final Dividend - Rs. - 4.00
SKPSEC: Final Dividend - Rs. - 1.50
APMIN: Final Dividend - Rs. - 0.50
REMSONSIND: Final Dividend - Rs. - 1.50
WSFX: Final Dividend - Rs. - 1.00
TRANSPEK: Dividend - Rs. - 14.00
ASIIL: Dividend - Rs. - 0.35
MURUDCERA: Final Dividend - Rs. - 0.50
PNBGILTS: Final Dividend - Rs. - 1.00
SPECIALITY: Final Dividend - Rs. - 1.00
RUBYMILLS: Final Dividend - Rs. - 1.75
MKEXIM: Final Dividend - Rs. - 0.50
CSLFINANCE: Final Dividend - Rs. - 2.50
CORDSCABLE: Final Dividend - Rs. - 1.00
CEEJAY: Final Dividend - Rs. - 1.20
KLBRENG-B: Final Dividend - Rs. - 2.00
TECHNOE: Final Dividend - Rs. - 7.00
BGWTATO: Final Dividend - Rs. - 2.00
BEML: Final Dividend - Rs. - 15.50
SUPERHOUSE: Final Dividend - Rs. - 0.80
BANARISUG: Dividend - Rs. - 12.50
ARIHANTSUP: Final Dividend - Rs. - 1.20
KIRLFER: Final Dividend - Rs. - 2.50
CEINSYSTECH: Final Dividend - Rs. - 2.50
KCPSUGIND: Dividend - Rs. - 0.20
ARIES: Final Dividend - Rs. - 1.00
KRSNAA: Final Dividend - Rs. - 2.50
AMRUTANJAN: Final Dividend - Rs. - 2.60
STOVEKRAFT: Final Dividend - Rs. - 2.50
HPAL: Final Dividend - Rs. - 0.30
CCL: Final Dividend - Rs. - 2.00
LANDMARK: Final Dividend - Rs. - 1.50
DIAMONDYD: Dividend - Rs. - 2.00
PRECWIRE: Final Dividend - Rs. - 0.45
LINCOLN: Final Dividend - Rs. - 1.80
MANAKALUCO: Final Dividend - Rs. - 0.07
FOODSIN: Final Dividend - Rs. - 0.30
AMIORG: Final Dividend - Rs. - 3.00
ASTAR: Dividend - Rs. - 1.50
PAISALO: Final Dividend - Rs. - 0.10
MPILCORPL: Final Dividend - Rs. - 0.90
GLENMARK: Final Dividend - Rs. - 2.50
CHEMFAB: Final Dividend - Rs. - 1.25
PITTIENG: Final Dividend - Rs. - 1.50
HALDER: Final Dividend - Rs. - 1.00
SHAILY: Final Dividend - Rs. - 1.00
DOMS: Final Dividend - Rs. - 2.50
SHRJAGP: Final Dividend - Rs. - 0.75
PRUDENT: Final Dividend - Rs. - 2.00
HBLPOWER: Final Dividend - Rs. - 0.50
GRSE: Final Dividend - Rs. - 1.44
HARIOMPIPE: Final Dividend - Rs. - 0.60
MANAKCOAT: Final Dividend - Rs. - 0.050
MIIL: Final Dividend - Rs. - 0.10
HITECH: Final Dividend - Rs. - 0.0250

IPO
PN Gadgil Jewellers: 10-Sep-24; Close: 12-Sep-24
Western Carriers (India): 13-Sep-24; Close: 18-Sep-24
Arkade Developers: 16-Sep-24; Close: 19-Sep-24
Northern Arc Capital: 16-Sep-24; Close: 19-Sep-24

Stocks Picker Articles

12 Sep 2024 05:00

Stock in Action

Persistent Systems: Persistent Systems is aspiring to achieve the USD2 billion revenue milestone, aided by its diversified product engineering and IT service offerings, large deal bookings and broad-based growth across its three key verticals, led by Healthcare & Lifesciences followed by BFSI and Hi-tech. The company expects top-quartile performance to continue in FY25, with margins around similar levels. Management has reiterated its commitment of a 200-300 bps EBIT margin improvement, aided by cost-optimisation program, reduction in SG&A, rationalisation of ESOP cost, and higher utilisation. The company is looking at tuck in acquisitions in areas of cyber security to expand capabilities. The company is also looking to expand geographically. The company is well placed to deliver top-quartile performance in FY25, accompanied by a strong start to FY25 with broad-based revenue growth across segments supported by robust bookings and diversified product engineering and IT service offerings. The company made a strong start in FY25 with 5.6% cc revenue growth in Q1FY25. For FY25, the company expects broad-based growth, led by Healthcare Life Sciences, followed by BFSI and Hi-tech. With BFSI vertical performing well, the potential interest rate cut tailwinds augurs well for the company and is likely to provide further growth impetus. The company continued to report strong bookings in Q1FY25, with total TCV at USD 462.8 million, up 22% y-o-y, and new business TCV at USD 310.8 million, up 31% y-o-y, providing strong revenue visibility. Positive on Persistent Systems given its diversified product engineering and IT service offerings, large deal bookings and broad-based growth across its three key verticals.

Suprajit Engineering: Suprajit Engineering Limited is an Indian company, which is engaged in the business of manufacturing and selling automotive and other components. The Company’s auto components mainly consist of control cables, speedo cables, auto lamps and other components for automobiles and cater to both domestic and international markets. The Company's product categories include Braking System, Control Cables, Display Cluster and Telematics, Friction Products, Gear Box, Gear Shifter Systems, Lighting Systems, Linear Actuation, and Throttle Controls. Through the acquisition route, Suprajit Group is a global leader in the automotive cable and halogen bulb industry. With a competitive manufacturing base in India, UK, US, Mexico and China. with a cumulative manufacturing capacities, company produces more than 400 million cables and around 110 million halogen lamps. Over the years, company has been a prominent supplier of cables and other products on the back of capacity expansion, innovation and operating efficiency. The rise in discretionary income and change in lifestyle with a significant preference for 2W and PV has led to the growth of automobile sector and this has given a push to auto components supplier to provide components while maintaining the standard quality. Even the government initiatives and adoption of EV vehicles which further received a thrust from customers has further pushed the components industry to increase their product penetration. Positive on Suprajit Engineering given the strong product portfolio and healthy order book backed by its marquee clients.

Stocks Picker Articles

11 Sep 2024 05:44

Corporate Actions

Dividend

11-Sep-24
TVTODAY: Final Dividend - Rs. - 8.50
GICRE: Dividend - Rs. - 10.00
SNL: Final Dividend - Rs. - 7.00
FINPIPE: Final Dividend - Rs. - 2.50
UTTAMSUGAR: Final Dividend - Rs. - 2.50
AGI: Final Dividend - Rs. - 6.00
ACKNIT: Final Dividend - Rs. - 1.50
BCLIND: Final Dividend - Rs. - 0.25
SUBROS: Final Dividend - Rs. - 1.80
POCL: Final Dividend - Rs. - 5.00
SANDUMA: Final Dividend - Rs. - 1.00

12-Sep-24
NIRLON: Final Dividend - Rs. - 11.00
SPIC: Dividend - Rs. - 1.50
INDPRUD: Final Dividend - Rs. - 90.00
WEPSOLN: Final Dividend - Rs. - 0.50
MYSORPETRO: Final Dividend - Rs. - 2.50
ELDEHSG: Final Dividend - Rs. - 8.00
SICAGEN: Final Dividend - Rs. - 0.60
HALDYNGL: Final Dividend - Rs. - 0.70
SRHHYPOLTD: Final Dividend - Rs. - 3.00
SJVN: Final Dividend - Rs. - 0.65
VSTTILLERS: Final Dividend - Rs. - 20.00
PATELSAI: Final Dividend - Rs. - 3.00
BENGALASM: Final Dividend - Rs. - 40.00
EXCELINDUS: Final Dividend - Rs. - 5.50
ARROWGREEN: Final Dividend - Rs. - 2.00
MALLCOM: Final Dividend - Rs. - 3.00
AMNPLST: Dividend - Rs. - 0.50
GULPOLY: Final Dividend - Rs. - 0.30
GARFIBRES: Final Dividend - Rs. - 3.00
SKIPPER: Dividend - Rs. - 0.10
BHARATRAS: Final Dividend - Rs. - 1.50

IPO
Bajaj Housing Finance: 09-Sep-24; Close: 11-Sep-24
Tolins Tyres: 09-Sep-24; Close: 11-Sep-24
Kross: 09-Sep-24; Close: 11-Sep-24
PN Gadgil Jewellers: 10-Sep-24; Close: 12-Sep-24

Buyback
Insecticides (India): Ex-Date: 11-Sep-24
Indian Toners & Developers: 05-Sep-24; Close: 11-Sep-24
Weizmann: 05-Sep-24; Close: 11-Sep-24
Nucleus Software Exports: 09-Sep-24; Close: 13-Sep-24
Transport Corporation of India: 10-Sep-24; Close: 17-Sep-24
Aarti Drugs: 11-Sep-24; Close: 18-Sep-24
Ladderup Finance: 11-Sep-24; Close: 18-Sep-24

Bonus
Acceleratebs India: Bonus Issue 3:5; Ex-Date: 12-Sep-24
Saksoft: Bonus Issue 1:4; Ex-Date: 19-Sep-24
RITES: Bonus Issue 1:1; Ex-Date: 20-Sep-24
Power Mech Projects: Bonus Issue 1:1; Ex-Date: 28-Sep-24
NBCC India: Bonus Issue 1:2; Ex-Date: 07-Oct-24

Stock Split
Andhra Paper: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 11-Sep-24
Varun Beverages: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 12-Sep-24
Onesource Ideas Venture: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24
Sportking India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24

Right Issue
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24
Modern Engineering: 05-Sep-24; Close: 17-Sep-24
Ducon Infratechnologies: 12-Sep-24; Close: 19-Sep-24
Sru Steels: 09-Sep-24; Close: 24-Sep-24
Vardhman Polytex: 12-Sep-24; Close: 27-Sep-24
Oriental Trimex: 19-Sep-24; Close: 27-Sep-24
Akshar Spintex: 09-Sep-24; Close: 30-Sep-24
Patel Integrated Logistics: 19-Sep-24; Close: 01-Oct-24
Srivari Spices And Foods: 24-Sep-24; Close: 03-Oct-24
Synergy Green Industries: 23-Sep-24; Close: 04-Oct-24

Stocks Picker Articles

11 Sep 2024 05:16

*Fund Houses Recommendations*


CLSA on *Shriram Trans:* Maintain Outperform on Company, target price at Rs 3350/Sh (Positive)

HSBC on *Dixon:* Maintain Hold on Company, raise target price at Rs 14000/Sh (Positive)

Emkay on *Pricol:* Maintain Buy on Company, target price at Rs 600/Sh (Positive)

CLSA on *Mutual fund flows:* Monthly SIP flows reach a new peak (Positive)

BofA on NBFCs: Rate cut cycle to aid NIM expansion, valuation re-rating as growth sustains. *Bajaj Finance and Shriram Trans* are top picks (Positive)

HSBC on *Real Estate:* Residential Sales Continue To Increase From A High Base, But The Pace Has Moderated (Neutral)

CLSA on *Dixon:* Maintain Hold on Company, raise target price at Rs 12100/Sh (Neutral)

Jefferies on *Kaynes:* Maintain Hold on Company, raise target price at Rs 4540/Sh (Neutral)

UBS on *Tata Motors:* Maintain Sell on Company, target price at Rs 825/Sh (Neutral)

CLSA on *Infosys:* Maintain Hold on Company, target price at Rs 1747/Sh (Neutral)

CLSA on *Ambuja Cem:* Maintain Underperform on Company, target price at Rs 570/Sh (Neutral)

MOSL on *Deepak NTR:* Maintain Neutral on Company, target price at Rs 3060/Sh (Neutral)

GS on *Zee Ent:* Maintain Neutral on Company, target price at Rs 165/Sh (Neutral)

Stocks Picker Articles

11 Sep 2024 04:43

*Logica Infoway:* Company on obtaining Tier - I National Distributorship of Samsung Laptops/ Notebooks for West Bengal and National Capital Region (Delhi NCR) in the month of September 2024 (Neutral)

*Pidilite industries:* Company issues clarification on news regarding association of Dhaval buch, Company says engages with multiple partners, consultants (Neutral)

*Tata Motors:* India CCI approves the proposed merger of Tata motors finance ltd with and into Tata capital ltd (Neutral)

*Persistent:* Company to acquire assets of SoHo Dragon in $4.7 million deal (Neutral)

*Reliance Industries:* Company sets September 20 as last date for paying call money on partly paid shares. (Neutral)

*IndiGo:* Bureau of Civil Aviation Security reduces Quantum Of Penalty Imposed On Co from ₹1.2 Cr to ₹70 Lk (Neutral)

*UCO Bank:* To hike lending rate by 5 bps for some tenures from September 11, 2024 (Neutral)

*SpiceJet:* Company agrees to a restructuring settlement with Carlyle Aviation, which will involve writing off $40.17 million in lease arrears. (Neutral)

*Yes Bank:* Recommends wholesale banking country head Manish Jain's name as executive director for 3 years. (Neutral)

*Auto Ancillaries:* BMW Cut 2024 guidance in the Automotive segment. (Neutral)

Stocks Picker Articles

10 Sep 2024 05:36

Corporate Actions

Sacheta Metals to Sub-divide or split the shares from the face value of Rs. 10/- each to Rs. 2/- each (after sub-division of shares) subject to the approval of members in the ensuing AGM of the company.

Dividend

10-Sep-24
VEDL: Interim Dividend - Rs. - 20.00
MANALIPETC: Dividend - Rs. - 0.75
MSTCLTD: Final Dividend - Rs. - 5.00
DAPS: Final Dividend - Rs. - 0.15
SYRMA: Final Dividend - Rs. - 1.50
NATPLASTI: Final Dividend - Rs. - 1.00

11-Sep-24
TVTODAY: Final Dividend - Rs. - 8.50
GICRE: Dividend - Rs. - 10.00
SNL: Final Dividend - Rs. - 7.00
FINPIPE: Final Dividend - Rs. - 2.50
UTTAMSUGAR: Final Dividend - Rs. - 2.50
AGI: Final Dividend - Rs. - 6.00
ACKNIT: Final Dividend - Rs. - 1.50
BCLIND: Final Dividend - Rs. - 0.25
SUBROS: Final Dividend - Rs. - 1.80
POCL: Final Dividend - Rs. - 5.00
SANDUMA: Final Dividend - Rs. - 1.00

12-Sep-24
NIRLON: Final Dividend - Rs. - 11.00
SPIC: Dividend - Rs. - 1.50
INDPRUD: Final Dividend - Rs. - 90.00
WEPSOLN: Final Dividend - Rs. - 0.50
MYSORPETRO: Final Dividend - Rs. - 2.50
ELDEHSG: Final Dividend - Rs. - 8.00
SICAGEN: Final Dividend - Rs. - 0.60
HALDYNGL: Final Dividend - Rs. - 0.70
SRHHYPOLTD: Final Dividend - Rs. - 3.00
SJVN: Final Dividend - Rs. - 0.65
VSTTILLERS: Final Dividend - Rs. - 20.00
PATELSAI: Final Dividend - Rs. - 3.00
BENGALASM: Final Dividend - Rs. - 40.00
EXCELINDUS: Final Dividend - Rs. - 5.50
ARROWGREEN: Final Dividend - Rs. - 2.00
MALLCOM: Final Dividend - Rs. - 3.00
AMNPLST: Dividend - Rs. - 0.50
GULPOLY: Final Dividend - Rs. - 0.30
GARFIBRES: Final Dividend - Rs. - 3.00
SKIPPER: Dividend - Rs. - 0.10
BHARATRAS: Final Dividend - Rs. - 1.50

IPO
Bajaj Housing Finance: 09-Sep-24; Close: 11-Sep-24
Tolins Tyres: 09-Sep-24; Close: 11-Sep-24
Kross: 09-Sep-24; Close: 11-Sep-24
PN Gadgil Jewellers: 10-Sep-24; Close: 12-Sep-24

Buyback
Jai Corp: Ex-Date: 10-Sep-24
Insecticides (India): Ex-Date: 11-Sep-24
Indian Toners & Developers: 05-Sep-24; Close: 11-Sep-24
Weizmann: 05-Sep-24; Close: 11-Sep-24
Nucleus Software Exports: 09-Sep-24; Close: 13-Sep-24
Transport Corporation of India: 10-Sep-24; Close: 17-Sep-24

Bonus
Indo Cotspin: Bonus Issue 7:10; Ex-Date: 10-Sep-24
Acceleratebs India: Bonus Issue 3:5; Ex-Date: 12-Sep-24
Saksoft: Bonus Issue 1:4; Ex-Date: 19-Sep-24
RITES: Bonus Issue 1:1; Ex-Date: 20-Sep-24
Power Mech Projects: Bonus Issue 1:1; Ex-Date: 28-Sep-24
NBCC India: Bonus Issue 1:2; Ex-Date: 07-Oct-24

Stock Split
Andhra Paper: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 11-Sep-24
Varun Beverages: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 12-Sep-24
Onesource Ideas Venture: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24
Sportking India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24

Right Issue
Vinny Overseas: 27-Aug-24; Close: 10-Sep-24
Orient Green Power Company: 27-Aug-24; Close: 13-Sep-24
Modern Engineering: 05-Sep-24; Close: 17-Sep-24
Ducon Infratechnologies: 12-Sep-24; Close: 19-Sep-24
Sru Steels: 09-Sep-24; Close: 24-Sep-24
Vardhman Polytex: 12-Sep-24; Close: 27-Sep-24
Oriental Trimex: 19-Sep-24; Close: 27-Sep-24
Akshar Spintex: 09-Sep-24; Close: 30-Sep-24
Patel Integrated Logistics: 19-Sep-24; Close: 01-Oct-24
Srivari Spices And Foods: 24-Sep-24; Close: 03-Oct-24
Synergy Green Industries: 23-Sep-24; Close: 04-Oct-24

Stocks Picker Articles

10 Sep 2024 04:50

Stock in Action

Gujarat Gas: Gujarat Gas maintained its performance momentum in Q1FY25. Results for the quarter bettered Street expectations, thanks to a sharp rise in industrial and CNG volume growth and stable costs. Revenue grew by 7.7%, sequentially, driven by a 25% jump in Morbi-led industrial volume and a 3% rise in CNG volumes. Unit EBITDA, at Rs 5.4, is broadly in line with the management guidance of Rs 4.5-5.5 per scm for FY25. The Morbi region accounts for two-thirds of the total industrial volume and faces stiff competition from propane. Excluding Morbi, other industrial volume growth is yet to pick up and the management expects it to grow by 5-6% in the next few quarters. The Morbi volume in Q1FY25 had a large festival impact and is expected to decline in the next quarter by 35-40%. Indian gas consumption continues to rise on the back of expansion of the gas grid and policy support. In Q1FY25, domestic gas consumption grew by 14.2% YoY, the fourth consecutive quarter of double-digit growth led by the CGD sector. Domestic demand is expected to remain good, going forward, supported by favourable LNG and CNG prices, compared to auto fuel price. Positive on Gujarat Gas as the domestic demand is expected to remain good, going forward, supported by favourable LNG and CNG prices compared to auto fuel price.

Zomato ltd.: Zomato reported a robust set of 1QFY25 numbers with revenues jumping 74% YoY and 18.1% QoQ, led by quick commerce and food delivery businesses. The quick commerce business delivered a 22.5% sequential GOV (gross order value) growth on the back of a 20.7% QoQ increase in orders and was aided by the addition of 113 stores. The GOV of the food delivery business grew by 9.8% QoQ with a jump in orders and an improvement in the AOV (average order value). The PAT, excluding other income, stood at Rs 17 crore, the first-ever positive bottom line without the impact of other income. The quick commerce business has scaled up well and touched a GOV of Rs 4,923 crore in Q1FY25, almost a Rs 20,000 crore annual run rate. This quarter's performance was driven by a significant jump in the number of orders and store additions. Quick commerce has seen a consistent rise in the daily order value per store from Rs 6.2 lakh in Q1FY24 to Rs 9.56 lakh in Q1FY25. The management plans to take the total store count to 2000 by 2026, expanding to new cities and locking horns with offline retailers. Zomato’s management is now building an app that offers going-out adjacencies, including events & movies ticket bookings, shopping, and staycation. Zomato has displayed strong execution on profitability, while maintaining growth in all its businesses. Its aggressive expansion strategy in the quick commerce business continues to pay off each quarter. Positive on Zomato given the robust set of 1QFY25 performance.

Stocks Picker Articles

10 Sep 2024 04:49

*Stocks in News*


*HG Infra:* Road Transport Min awards ₹781.1 Cr project (Positive)

*Dixon:* Arm Padget Electronics signs MOU with HP India Sales to manufacturing notebooks, desktops & all-in-one PCs (Positive)

*Ahluwalia Contracts:* Company gets 2 contracts worth Rs 1,307 crore from Signature Global for housing projects (Positive)

*Action Construction Equipment:* Company wins order from ministry of defense for the supply of 99 forklifts (Positive)

*Tata Power:* Company commences production of Solar Cell at India's largest Single-Location 4.3 GW Solar Cell and Module Manufacturing Plant in Tirunelveli, Tamil Nadu”. (Positive)

*IRB Infra Developers:* August Toll collection up 20% year-on-year at Rs 503 crore. (Positive)

*GMR Airports Infra:* Company to buy 10% interest in Delhi Int'l airport for $ 126 million. (Positive)

*Sah Polymers:* Company’s manufacturing facility was audited by intertek certification Ltd, audit in relation to compliance with BRC standards, Company given grade a ranking for compliance with global standards (Positive)

*Easy Trip Planners:* Board Meeting On Sept 13 to Consider Proposal of Multiple Acquisitions (Positive)

*BAL Pharma:* Company commence setting up of green field project for Rs 300 million (Positive)

*Hero Motocorp:* Files Draft Red Herring Prospectus (DRHP) for Ather Energy IPO worth ₹3,100 crore with market regulator SEBI (Positive)

*Premier Energies:* Company has received order from Uttar Pradesh Department of Agriculture valued at Rs 215 crore. (Positive)

*AU Small Finance Bank:* Company signs corporate agency agreement with Kotak Mahindra Life Insurance to provide life insurance solution to bank’s customers (Positive)

*Astrazeneca/Biocon/Cipla/APL:* GST rate on 3 cancer drugs has been reduced to 5% from 12% (Positive)

*Gopal Snacks/Prataap Snacks/Bikaji Food:* GST rate on Namkeens cut from 18 to 12% (Positive)

*Zaggle:* Company signs agreement with HDFC ERGO General Insurance Company. (Positive)

*IREDA/SJVN:* Company signs preliminary agreements with SJVN and GMR Energy for 900 MW Upper Karnali hydroelectric project in Nepal. (Positive)

*VBL:* Company announced another stock split where it will split one equity share of ₹5 into equity shares of face value of ₹2 (Positive)

*PNB Housing Finance:* Company to issue NCD up to Rs 25 billion. (Neutral)

*Vodafone Idea:* Company raised about Rs 240 billion in 2024 of which about Rs 21 billion invested by promoters, (Neutral)

*Andhra Petrochemicals:* Visakhapatnam plant will not be in operation from September 9 (Neutral)

*BF Utilities:* Toll operations on HUBLI- Dharwad bypass road closed (Neutral)

*Nazara:* Board Meeting on 12th September to approve the issuance of equity shares / securities of the Company on a preferential basis (Neutral)

*BEML:* Company had announced a dividend of ₹15.5 per share and the record date for which has been fixed as September 13. (Neutral)

*GICRE:* Company had announced a dividend of ₹10 per share earlier, and the record date for the same has now been fixed as September 11. (Neutral)

*Container Corporation:* LIC increased stake in company to 7.781% from 5.773% (Neutral)

*HAL:* Company appointed D K SUNIL as Chairman & Managing Director (Neutral)

*Awfis Space Solutions: Execution of BTA with SMS Integrated Facility Services, BTA for Divestiture of Facility Management Division for Rs 275 million. (Neutral)

* Paisalo Digital:* Board Meeting On Sept 12 to Consider Issuance of Listed Commercial Papers via Private Placement Basis. (Neutral)

*SKY Gold:* Company approved investment of up to Rs 150 million in each of its two unit’s starmangalsutra, sparkling chains. (Neutral)

*Arvind:* Company made further investment of Rs 480 million in unit Arvind technical products, entity being acquired belongs to manufacture and supply of technical textile products (Neutral)

*Insurance Stocks:* There was near consensus on completely exempting health, life insurance premium from GST, but Chairman of the

Stocks Picker Articles

16 Sep 2024 05:26

Corporate Actions

Dividend

17-Sep-24
RUCHIRA: Final Dividend - Rs. - 5.00
DIVSHKT: Final Dividend - Rs. - 2.00
SHAWGELTIN: Final Dividend - Rs. - 10.00
EDELWEISS: Final Dividend - Rs. - 1.50
BHARAT: Final Dividend - Rs. - 0.60
GOCLCORP: Dividend - Rs. - 4.00
SPENTA: Final Dividend - Rs. - 1.00
GUJCRAFT: Final Dividend - Rs. - 1.00
TPLPLASTEH: Final Dividend - Rs. - 0.80
NMDC: Final Dividend - Rs. - 1.50
WINDLAS: Dividend - Rs. - 5.50
PRAKASH: Final Dividend - Rs. - 1.20
SALAUTO: Final Dividend - Rs. - 4.50
JKIL: Final Dividend - Rs. - 4.00
SANDHAR: Final Dividend - Rs. - 3.25
ELNET: Final Dividend - Rs. - 1.70
NETTLINX: Final Dividend - Rs. - 0.40
MANCREDIT: Final Dividend - Rs. - 0.60
HINDHARD: Dividend - Rs. - 2.50
LIKHITHA: Final Dividend - Rs. - 1.50
GRWRHITECH: Dividend - Rs. - 10.00
DREAMFOLKS: Final Dividend - Rs. - 1.50
PPL: Final Dividend - Rs. - 1.80
IBINFO: Final Dividend - Rs. - 0.50
DLTNCBL: Final Dividend - Rs. - 1.50
BASANTGL: Dividend - Rs. - 0.05
CARYSIL: Final Dividend - Rs. - 2.00
INDOAMIN: Final Dividend - Rs. - 0.50
MARKSANS: Final Dividend - Rs. - 0.60
PVSL: Final Dividend - Rs. - 0.50
VIDHIING: Final Dividend - Rs. - 1.00
3BBLACKBIO: Final Dividend - Rs. - 3.00
DBL: Dividend - Rs. - 1.00
TRISHAKT: Final Dividend - Rs. - 0.15
VERITAS: Final Dividend - Rs. - 0.05

18-Sep-24
HEIDELBERG: Final Dividend - Rs. - 8.00
STARPAPER: Dividend - Rs. - 4.00
ALLCARGO: Final Dividend - Rs. - 1.00
ORICONENT: Final Dividend - Rs. - 0.50
TNPETRO: Final Dividend - Rs. - 1.20
SAMKRG: Final Dividend - Rs. - 2.00
SKMEGGPROD: Final Dividend - Rs. - 2.50
BALPHARMA: Final Dividend - Rs. - 1.20
SIGIND: Final Dividend - Rs. - 0.50
SOTL: Final Dividend - Rs. - 4.00
PARADEEP: Final Dividend - Rs. - 0.50
NLCINDIA: Final Dividend - Rs. - 1.50
BLUECHIPT: Final Dividend - Rs. - 1.00
ASHIANA: Final Dividend - Rs. - 1.50
MASTEK: Final Dividend - Rs. - 12.00
RIDDHI: Final Dividend - Rs. - 3.00
KINGFA: Final Dividend - Rs. - 10.00
CONCOR: Final Dividend - Rs. - 2.50
SUPRAJIT: Final Dividend - Rs. - 1.40
LTFOODS: Final Dividend - Rs. - 1.00
KIRLOSIND: Final Dividend - Rs. - 13.00
BLUEJET: Final Dividend - Rs. - 1.00
SADHNANIQ: Final Dividend - Rs. - 0.15
MARATHON: Final Dividend - Rs. - 1.00
APOLLOPIPE: Final Dividend - Rs. - 1.00
TALBROAUTO: Final Dividend - Rs. - 0.50
DENORA: Final Dividend - Rs. - 2.00
CENTURYPLY: Final Dividend - Rs. - 1.00
WEL: Final Dividend - Rs. - 1.00
KNRCON: Final Dividend - Rs. - 0.25
DIXON: Final Dividend - Rs. - 5.00
GUFICBIO: Final Dividend - Rs. - 0.10
VENUSPIPES: Final Dividend - Rs. - 0.50

IPO
Western Carriers (India): 13-Sep-24; Close: 18-Sep-24
Arkade Developers: 16-Sep-24; Close: 19-Sep-24
Northern Arc Capital: 16-Sep-24; Close: 19-Sep-24

Buyback
Transport Corporation of India: 10-Sep-24; Close: 17-Sep-24
Aarti Drugs: 11-Sep-24; Close: 18-Sep-24
Ladderup Finance: 11-Sep-24; Close: 18-Sep-24
Arex Industries: 12-Sep-24; Close: 19-Sep-24
Jai Corp: 13-Sep-24; Close: 20-Sep-24

Bonus
Saksoft: Bonus Issue 1:4; Ex-Date: 19-Sep-24
Ujaas Energy: Bonus Issue 1:4; Ex-Date: 20-Sep-24
RITES: Bonus Issue 1:1; Ex-Date: 20-Sep-24
Mindteck (India): Bonus Issue 1:4; Ex-Date: 20-Sep-24
Phoenix Mills: Bonus Issue 1:1; Ex-Date: 20-Sep-24
NBCC India: Bonus Issue 1:2; Ex-Date: 07-Oct-24
Power Mech Projects: Bonus Issue 1:1; Ex-Date: 08-Oct-24

Stock Split
Rajshree Polypack: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 18-Sep-24
Nandan Denim: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 19-Sep-24
Fedders Holding: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 20-Sep-24
Swastika Investmart: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 25-Sep-24

Stocks Picker Articles

16 Sep 2024 04:50

*Fund Houses Recommendations*


Nomura on *Macrotech:* Maintain Buy on Company, raise target price at Rs 1600/Sh (Positive)

Emkay on *Adani Green:* Maintain Buy on Company, target price at Rs 2550/Sh (Positive)

CLSA on *Axis Bank:* Maintain Outperform on Bank, target price at Rs 1400/Sh (Positive)

B&K on *Nazara:* Upgrade to Buy on Company, raise target price at Rs 1370/Sh (Positive)

Investec on *Union Bank:* Upgrade to Buy on Bank, target price at Rs 151/Sh (Positive)

Emkay on *Stovekraft:* Initiate Buy on Company, target price at Rs 1350/Sh (Positive)

MS on *SBI Life:* Expects 18-19% individual APE growth for FY25 as growth picks up in Q3 (Positive)

MS on *Shriram Fin:* Guided 16-17% AUM growth in FY25; Passenger vehicles, MSME, and gold loans will be the key growth drivers (Neutral)

Jefferies *India Strategy:* Near-term cautious view on markets, smid caps, industrials & global cyclicals amidst green shoots on consumption. Add *Emcure Pharma and Indigo* in model portfolio (Neutral)

Kotak on *Concord:* Downgrade to Reduce on Company, raise target price at Rs 1950/Sh (Neutral)

Kotak on *Glenmark:* Downgrade to Reduce on Company, raise target price at Rs 1265/Sh (Neutral)

CLSA on *HCLTECH:* Maintain Hold on Company, target price at Rs 1556/Sh (Neutral)

UBS on *Hero Motocorp:* Maintain Sell on Company, target price at Rs 3350/Sh (Neutral)

BofA on *HUL:* Maintain Buy on Company, target price at Rs 3010/Sh (Neutral)

Nomura on *Bharat Forge:* Maintain Neutral on Company, target price at Rs 1789/Sh (Neutral)

Stocks Picker Articles

16 Sep 2024 04:31

*Stocks in News*


*Laurus Labs:* Concludes USFDA audit for API manufacturing facility at Hyderabad with no observations (Positive)

*Zydus Lifesciences:* Company secures licensing and supply agreement for MRI contrast agents in the US (Positive)

*Dixon Technologies:* Company’s Padget Electronics signs MOU with Asus for manufacturing of notebooks (Positive)

*Zomato:* Company now delivers food to train coaches at over 100 railway stations (Positive)

*RPG Life Sciences:* Execution of binding agreement with Krsna dynasty; agreement worth Rs 1.45 billion, agreement for assignment of surplus vacant leasehold land (Positive)

*Zaggle:* Company enters into agreement with founderlink, founderlink tech shall offer financial facility to Zaggle corporate customers, their vendors and channel partners. (Positive)

*Responsive Industries:* Company poised for growth as government announces major infrastructure initiative (Positive)

*Artemis Medicare:* Company has informed about the capacity addition in the company’s flagship hospital located at Gurugram (Positive)

*Sanofi Consumer:* Q1 profit at Rs 29.0 cr vs 25.8 cr, Revenue at Rs 160 cr vs 100 cr YoY. (Positive)

*IndiGo:* August market share at 62.4% vs 62% (MoM). (Positive)

*SpiceJet:* Company approves fundraising plan amid turnaround efforts (Positive)

*CDSL:* Company appoints Nehal Vora as managing director and CEO. (Positive)

*Kopran:* BoFA bought 2.52 lakh shares of company (Positive)

*Akums:* Company receives a patent for a formulation for sickle cell disease treatment. (Positive)

*Sugar Stocks:* Government allows sugar mills & distilleries to make rectified spirit and extra neutral alcohol from sugarcane juice & B-heavy molasses (Positive)

*KRBL/LT Foods:* India lifts limit on basmati rice export price. (Positive)

*Titan:* Company plans to launch 10 international watch brands through Helios. (Positive)

*Patanjali Foods:* GQG Partners increases its stake in company to 3.41%. (Positive)

*IHCL:* Hoping 25-35% of topline to come from Non-Taj businesses: MD (Positive)

*EIH:* Company approves investment to develop a mixed use project worth Rs 972 crore in Pune. (Positive)

*BSE:* Company’s cash market turnover soared to ₹16 lakh crore in the Jan-Aug 2024 period, compared to ₹12.4 lakh crore (Positive)

*JSW Energy:* Company completes commissioning 300 MW wind power capacity at Tuticorin, Tamil Nadu (Positive)

*Adani Green and Adani Power:* Maharashtra State DISCOM issues Letter of Intent for supply of 6600 MW hybrid solar and thermal power (Positive)

*PTC India:* OGL has signed Share Purchase Agreement with PTC India Limited for acquisition of 100 % equity stake in PTC energy Limited (Positive)

*M&M Financial:* Board approves expansion into mortgage business. (Positive)

*Thermax:* Company's arm gets order worth Rs 516 crore for 2 CFBC boilers. (Positive)

*Goodluck:* Company inaugurates precision pipes manufacturing plant in Uttar Pradesh (Positive)

*Lumax Auto:* Company to foray into the green and alternate fuels segment through strategic agreement to acquire majority stake in Greenfuel Energy Solutions (Positive)

*Samvardhana:* Company to invest $15 million for 11% stake in REE Automotive (Positive)

*BLS International:* Company is expecting 400-500 basis points growth in margin by year-end (Positive)

*Ashok Ley:* ICRA has upgraded ratings for long term fund based term loans and Non-convertible debentures (Positive)

*Hero Motocorp:* Company concludes ‘The Centennial’ auction, raises Rs 8.6 crore for charitable initiatives (Neutral)

*Exide Industries:* Company has invested Rs 1 billion in equity share capital of Exide energy solutions. (Neutral)

*HEG:* Company says enhancement of existing investment limit from Rs 2 billion to Rs 2.5 billion (Neutral)

*Aurobindo Pharma:* LIC reduces stake in company to 2.26% from 5.01% (Neutral)

Stocks Picker Articles

13 Sep 2024 05:33

Sru Steels: Open: 09-Sep-24; Close: 24-Sep-24
Vardhman Polytex: Open: 12-Sep-24; Close: 27-Sep-24
Oriental Trimex: Open: 19-Sep-24; Close: 27-Sep-24
Akshar Spintex: Open: 09-Sep-24; Close: 30-Sep-24
Patel Integrated Logistics: Open: 19-Sep-24; Close: 01-Oct-24
Srivari Spices And Foods: Open: 24-Sep-24; Close: 03-Oct-24
Synergy Green Industries: Open: 23-Sep-24; Close: 04-Oct-24

*Open Offer*
Windsor Machines: Open: 13-Sep-24; Close: 27-Sep-24

Stocks Picker Articles

13 Sep 2024 04:54

Stock in Action

Zensar Technologies: Zensar Technologies has seen a performance turnaround since the change in guard after Manish Tandon took over in 2023. While margins saw an early improvement, a pick-up in revenues is visible in recent quarters, along with steady order inflows. Even after the management change, it took a while for the revenue traction to come back. In Q1 of FY25, revenues at $154.4 million showed a sequential growth of 4.2% in reported currency and 4.3% in CC, the second consecutive quarter of positive growth. While all the three markets of the US, Europe, and Africa had a positive YoY growth, the performance of the US market was particularly strong in Q1 on a sequential basis. The cornerstone of the Zensar revival story is the sharp uptick in operating margin that rose by close to 640 basis points in FY24 to touch 17.8%. The second quarter could have some margin softness on account of the annual wage hike. The margin turnaround experienced so far has come on the back of improving gross margins, lower SG&A expenses, lower sub-contracting, and higher offshoring. Zensar appears to be finally seeing stability in senior management and is committed to steadily accelerating growth and profitability while navigating challenges. Positive on Zensar Technologies as the revenues have started picking up, margins are improving, and order inflows are steady.

LIC Housing Finance: LIC Housing Finance is looking to diversify its product mix by increasing the share of non-housing loans with a higher exposure to self-employed customers. As per the management, this is the formula to balance growth and margins. A potential rate cut by the US Fed in September and the lowering of inflation could trigger a shallow rate cut by the RBI in H2 FY25. This could benefit LIC Housing Finance, given its higher exposure to floating rate borrowings. Its portfolio growth was below expectations in a seasonally weak quarter with higher repayments. Also, unfavourable weather conditions and extended elections partly impacted growth. However, disbursements saw a healthy sequential uptick and the trend is expected to continue. The project loan segment saw solid growth and will remain a key focus area. This coupled with healthy growth in individual home loans will support the double-digit loan growth guidance in FY25. NIMs contracted due to a higher one-time recovery of interests from NPA accounts. The share of higher-yield/non-housing loans is expected to gradually increase to 20%, going forward. This, coupled with a bigger focus on the self-employed book, will boost margins. A change in the loan disbursement mix and the customer mix will aid NIMs, which is guided to remain in the 2.7-2.9% range, going forward. Despite below-normal collection efficiency due to adverse weather conditions and extended elections, the gross NPA ratio was stable at 3.3%. Positive on LIC Housing Finance given the pick-up in loan growth, steady margins, lower credit costs, and controlled costs.

Stocks Picker Articles

13 Sep 2024 04:53

*Stocks in News*


*HPL Electric:* Company bags work orders worth ₹143.8 crore for the supply of smart meters (Positive)

*BPCL:* Company entering into a joint venture agreement with Sembcorp Green Hydrogen India, Company entering into a joint venture agreement with GPS renewables (Positive)

*HG Infra Engineering:* Company gets letter from central railway for order worth Rs 7.16 billion (Positive)

*Intellect Design*: Company announces the launch of emach. ai tailored specifically for the Sri Lankan financial landscape (Positive)

*Tata Power:* Tata Power Renewable Energy and Tata Motors sign a MoU to set up 200 fast-charging stations for electric commercial vehicles. (Positive)

*Ajooni Biotech:* Company secures BIS certification for mineral mixture product (Positive)

*BLS International:* Company to acquire Citizenship Invest DMCC for $31 million (Positive)

*Panacea Biotec:* Company secures $20 million loan from DFC for vaccine capacity expansion (Positive)

*Zee Entertainment:* NCLT approves company's settlement pact with Sony India. (Positive)

*Nazara Tech:* Company to acquire 47.7% stake in Moonshine Tech for Rs 832 cr, additionally (Positive)

*Muthoot/Mannppuram:* Gold climbs to a record as US data bolster Federal Reserve cut case. (Positive)

*Power Grid:* Company gets LoI for interstate transmission system in Gujarat (Positive)

*PNB Housing:* Government of Singapore, Monetary Authority of Singapore were key buyers in the block deal. (Positive)

*MAS Financial:* Company increases stake in subsidiary through conversion of preference shares. (Neutral)

*Kotak Bank:* Board appointed Mr. Jaideep Hansraj, Group President as an Additional Director and a Whole-time Director and a Key Managerial Personnel of the Bank, for a period of three years (Neutral)

*Orient Electric:* Company inform that Mr. Sakti Parida, VP Chief Procurement Officer, a Senior Management Personnel of the Company, has resigned from the services of the Company. (Neutral)

*IRCTC:* LIC increases stake in company to 9.29% from 7.2% (Neutral)

*Hindusthan National Glass:* Operational incident occurred at glass manufacturing facility at RISHRA, WEST BENGAL (Neutral)

*IFGL Refra:* Sikander Yadav resigns as Chief Financial Officer of the company w.e.f. September 12 (Neutral)

*SBI:* Bank sanctions Rs 10,050 crore project loan to Damodar Valley Corporation. S&P Global affirms Bank’s credit rating at 'BBB-', outlook remains positive (Neutral)

*Minda Corp:* Board approves raising funds up to Rs 1,000 crore via QIP or other means (Neutral)

*Patanjali:* Company likely to raise up to $240 m via block deals, floor price at ₹1,815 (Neutral)

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

Stocks Picker Articles

12 Sep 2024 05:39

Buyback
Nucleus Software Exports: 09-Sep-24; Close: 13-Sep-24
Transport Corporation of India: 10-Sep-24; Close: 17-Sep-24
Aarti Drugs: 11-Sep-24; Close: 18-Sep-24
Ladderup Finance: 11-Sep-24; Close: 18-Sep-24
Arex Industries: 12-Sep-24; Close: 19-Sep-24

Bonus
Acceleratebs India: Bonus Issue 3:5; Ex-Date: 12-Sep-24
Saksoft: Bonus Issue 1:4; Ex-Date: 19-Sep-24
RITES: Bonus Issue 1:1; Ex-Date: 20-Sep-24
Power Mech Projects: Bonus Issue 1:1; Ex-Date: 28-Sep-24
NBCC India: Bonus Issue 1:2; Ex-Date: 07-Oct-24

Stock Split
Varun Beverages: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 12-Sep-24
Onesource Ideas Venture: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24
Sportking India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Sep-24

Right Issue
Orient Green Power Company: Open: 27-Aug-24; Close: 13-Sep-24
Modern Engineering: Open: 05-Sep-24; Close: 17-Sep-24
Ducon Infratechnologies: Open: 12-Sep-24; Close: 19-Sep-24
Sru Steels: Open: 09-Sep-24; Close: 24-Sep-24
Vardhman Polytex: Open: 12-Sep-24; Close: 27-Sep-24
Oriental Trimex: Open: 19-Sep-24; Close: 27-Sep-24
Akshar Spintex: Open: 09-Sep-24; Close: 30-Sep-24
Patel Integrated Logistics: Open: 19-Sep-24; Close: 01-Oct-24
Srivari Spices And Foods: Open: 24-Sep-24; Close: 03-Oct-24
Synergy Green Industries: Open: 23-Sep-24; Close: 04-Oct-24

Open Offer
Windsor Machines: Open: 13-Sep-24; Close: 27-Sep-24

Stocks Picker Articles

12 Sep 2024 05:14

*Fund Houses Recommendations*


Jefferies on *MGL:* Maintain Buy on Company, raise target price at Rs 2120/Sh (Positive)

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

Jefferies on *Chola Invest:* Maintain Buy on Company, raise target price at Rs 1800/Sh (Positive)

HSBC on *OLA:* Maintain Buy on Company, raise target price at Rs 140/Sh (Positive)

Emkay on *Indian Bank:* Maintain Buy on Bank, target price at Rs 675/Sh (Positive)

MS on *PNB Housing:* Maintain Overweight on Company, raise target price at Rs 1500/Sh (Positive)

MS on *BEL:* Maintain Overweight on Company, target price at Rs 364/Sh (Positive)

Nomura on *Dixon:* Initiate Buy on Company, target price at Rs 15567/Sh (Positive)

Nomura on *Kaynes:* Initiate Buy on Company, target price at Rs 5969/Sh (Positive)

Investec on *HPCL:* Maintain Hold on Company, raise target price at Rs 400/Sh (Positive)

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

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

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

Emkay on *Oil India:* Maintain Buy on Company, target price at Rs 700/Sh (Positive)

Antique on *IEX:* Maintain Buy on Company, raise target price at Rs 262/Sh (Positive)

GS on *Adani Ports:* Maintain Buy on Company, target price at Rs 1630/Sh (Positive)

CLSA on Insurance: *PB Fintech* indicated strong growth; momentum in health insurance sector continues (Positive)

CLSA on New EV Launch: JSW MG launched the Windsor EV at an introductory price of Rs 999k (Neutral)

Investec on *IOC:* Maintain Sell on Company, raise target price at Rs 120/Sh (Positive)

Investec on *BPCL:* Maintain Sell on Company, raise target price at Rs 250/Sh (Positive)

Jefferies on *Entero:* Maintain Buy on Company, target price at Rs 1510/Sh (Neutral)

MS on *Tata Steel:* Maintain Underweight on Company, target price at Rs 135/Sh (Neutral)

CLSA on *JSPL:* Maintain Hold on Company, target price at Rs 940/Sh (Neutral)

Kotak on *Nykaa:* Downgrade to Sell on Company, cut target price at Rs 190/Sh (Negative)

Stocks Picker Articles

12 Sep 2024 04:25

*Stocks in News*


*NBCC:* Company collaborates with MTNL to develop 13.88 acres of land parcel in New Delhi. The project is valued at ₹1,600 cr (Positive)

*GE T&D:* Company bags order worth €55 m from Grid Solutions Middle East FZE, Dubai (Positive)

*IndiGo:* Company aims to be a global airline player by 2030, says CEO Pieter Elbers (Positive)

*MapmyIndia:* Company partners with Zoom car, the collaboration enables users to book a Zoom car while getting their trips planned with the Mappls App (Positive)

*Gujarat Fluoro:* Company subsidiary has incorporated its wholly-owned subsidiary co namely GFCL EV products GMBH in HAMBURG, Germany (Positive)

*Indian Energy Exchange:* IGX share in overall gas consumption expected to increase to 4-5% by 2030 (Positive)

*Infrastructure stocks:* Rural Development Ministry approves construction of roads in three states under various central schemes. (Positive)

*NHPC:* Cabinet approves Rs 12,461cr for hydro-projects (Positive)

*Wipro:* Company builds AI-enabled data strategy for JFK International Air Terminal (Positive)

*Tata Steel:* Company signs £500 million grant funding agreement with UK government for £1.25 billion green steel project in Port Talbot, electric ARC furnace is expected to be operational within three years. (Positive)

*IOC/BPCL:* Company’s arm and Indian Oil get production concession in Abu Dhabi for 6,162 square km area. (Positive)

*Medicamen Biotech:* Company received the final approval from the inspection department, division of production & distribution control, national organization for medicines, Greece for Bhiwadi formulation facility. (Positive)

*Brigade Enterprises:* Company launches its premium flexible workspace solution BuzzWorks in Hyderabad (Positive)

*Engineers India:* Current order book at 113.5b rupees, Company says expects to complete 1.5 mtpa mongolia refinery by march 2026. (Positive)

*Lupin:* Company signed share subscription & shareholders’ agreement with Sunsure Solarpark seventeen, Company to make equity investment (Positive)

*Nazara Technologies:* Company acquisition of 15.86% stake in getstan technologies by unit, deal for consideration of up to Rs 182.6 million. (Positive)

*M&M:* Embraer and Mahindra announce collaboration on the C-390 Millennium Medium Transport Aircraft in India (Positive)

*Lemon Tree Hotels:* Company signs a new property in Pune, Company says the property, which shall be managed by carnation hotels private limited, a wholly-owned subsidiary of Company is expected to open in FY 2026. (Positive)

*Bajaj Finance/Finserve:* Bajaj Housing Finance IPO gets bids worth over ₹3 lakh crore for a ₹6,560 crore issue (Positive)

*Vishwaraj Sugar:* Company approved floor price for issue, being Rs 17.51 per share ,Company approves QIP issue amounting up to Rs 990 million. (Neutral)

*Castrol India:* Company introduces Microfiber Cloth and Shiner Sponge to the existing range of products (Neutral)

*Adani Ports:* Company has signed a concession agreement with DPA to develop Multipurpose Berth at Deendayal Port, Kandla, Gujarat. (Neutral)

*HPCL:* Company appoints K Vinod as CFO effective from 11th Sep, 2024 (Neutral)

*Route Mobile:* Founder to sell 6.03% stake via OFS Sept 12-13; floor price at Rs 1,635 per share (Neutral)

*Honasa Consumers:* Company’s 10.8% Equity Worth Rs 1827.0 Cr via block deal At Rs 480/sh floor price (Neutral)

*State Bank of India:* Bank KEB Hana Indonesia & Bank SBI Indonesia (BSBII) and SBI signs shareholder agreement. Under the agreement, BSBII will issue preference shares to PT Bank KEB Hana, Indonesia (Neutral)

Stocks Picker Articles

11 Sep 2024 05:44

Forthcoming Event

11th September: Dharani Sugars & Chemicals, Shine Fashion (India), Satin Creditcare Network, Ravindra Energy to consider Fund Raising

12th September: BAJAJHLDNG, MAHSCOOTER to consider Dividend; Nazara Technologies, Indo Thai Securities, Minda Corporation to consider Fund Raising

13th September: Sellwin Traders to consider Bonus issue & Stock Split; Bigbloc Construction to consider Bonus issue; Niraj Cement Structurals to consider Fund Raising

16th September: Sandur Manganese & Iron Ores to consider Fund Raising

17th September: Jonjua Overseas to consider Fund Raising

20th September: Godfrey Phillips India to consider Bonus issue

Stocks Picker Articles

11 Sep 2024 05:08

Stock in Action

Ami Organics: Ami Organics forayed into the semi-conductor value chain by acquiring BABA Fine Chemicals in 2023. However, since the last three quarters, this segment has been witnessing a subdued top-line run rate of Rs 5 crore due to demand issues from key client Heraeus. BABA fine chemicals is highly dependent on this key client. Now, to mitigate this, the Ami Organics is pitching for other molecules that are not committed to Heraeus to potential clients in Korea and Japan. At present, the company is hopeful of gaining the required traction in this business in the next 12-18 months. This segment is seen as a key margin driver for the company in the medium term as the product bouquet can command 40-65% margins. In case of battery chemicals, the company would be doing toll manufacturing of electrolyte for Korean company Enchem. However, here, the final contours of the regulatory requirements are yet to be finalised. While the semi-conductor and battery chemical businesses are the new growth drivers for the long term, clearly, it would take time for them to be material contributor to the earnings. The near- to medium-term growth would be driven by advanced intermediates for pharma innovators. The recent fund-raising of Rs 500 crore through QIP/preferential allotment has helped the company to repay debt. It now has net cash of Rs 385 crore in its books. This certainly helps the company to support the current capex cycle for the Ankleshwar unit, electrolyte business and captive solar plant. Positive on Ami Organics as the foray into semi-conductor and battery chemical businesses would future growth driver.

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

11 Sep 2024 04:42

*Stocks in News*


*Astra microwave:* Company signed a MOU with premier explosives for a strategic alliance to develop and sell multiple products jointly. (Positive)

*Ramco Systems:* Company announces the launch of aviation software 6.0 for smarter aircraft management (Positive)

*Jubilant Pharmova:* USFDA determines inspection classification of ‘voluntary action indicated’ for the contract manufacturing facility at Spokane, Washington (USA) (Positive)

*Hindustan Zinc/Skipper:* Company and skipper limited partner for India’s heaviest transmission steel pole structure, weighing around 200 metric tons (Positive)

*Reliance Industries:* Reliance Retail Ventures & Delta Galil in pact for JV in India. (Positive)

*IZMO:* Company launches IZMO micro - India’s leading system-in-package manufacturing facility, now operational in Bangalore, Company launch of IZMO microsystems, unit for semiconductor packaging, manufacturing (Positive)

*Brigade Enterprises:* Company inaugurates 108-bed hospital in collaboration with St. John’s Medical College Hospital at Brigade Meadows. (Positive)

*PC Jeweller:* Company said it has received a refund of ₹67.54 crore from the Income Tax Department (Positive)

*Lemon Tree:* Company announced the signing of a license agreement for a new property, the Lemon Tree Hotel, Mira Road, Mumbai (Positive)

*IREDA:* Company unit IREDA global green energy finance IFSC gets provisional registration from IFSCA. (Positive)

*Tinna Rubber:* Company has signed a joint venture agreement with lionshare holdings and MBODLA investments to acquire and recycle used Tyres, either in India or through a new recycling plant in South Africa (Positive)

*Rajoo Engineers:* Company signing agreement to develop innovative plastic extrusion machinery, Company to develop plastic extrusion machinery for one of overseas customer worth $ 15 million (Positive)

*Ashoka Buildcon:* Company has formed ABL INDIRA Projects JV LLP with Indira projects & development private limited for a project in the Maldives, holding a 90% stake in the LLP (Positive)

*Genus Power Infra:* Company has incorporated two wholly-owned step-down subsidiaries (SPVS) on September 10, these are incorporated as SPVS for execution of advanced metering infrastructure service provider contract (Positive)

*Adani Ports:* Rorix Holdings in pact with Company to integrate advanced technologies into India’s infrastructure: Bloomberg (Positive)

*Infosys:* Company and Proximus Group announce strategic collaboration to drive innovation and deliver superior customer experiences through CPaaS and DI solutions. (Positive)

*Oil India/ ONGC:* OIL, OVL and KABIL sign MoU with IRH, UAE for global cooperation in critical mineral supply chain (Positive)

*Shriram Finance:* Company plans to list its general and life insurance subsidiaries in next two years. (Positive)

*Endurance Tech:* Company to capitalize on premiumization in auto sector to grow revenues. (Positive)

*Oil Downstream companies:* Brent crude falls below $70 for the first time in 3 years. (Positive)

*Torrent Pharma:* Company achieved double-digit growth on business (Positive)

*CESC:* Purvah Green Power accepts LoA from company for setting up 300MW Solar PV power project. (Positive)

*Bajaj Auto/Hero/TVS/Ola:* Government likely to announce subsidy schemes for electric vehicles today: Sources to ET (Positive)

*Windsor Machines:* Plutus Investments acquires 53.9% of Windsor Machines for Rs 350 crore. (Positive)

*Dr Reddy's lab:* Company issues clarification on certain allegations pertaining to our engagement with agora advisory, Company routinely engage external coaches to enable significant role transitions of leaders. (Neutral)

*Dixon Technologies:* India CCI approves the subscription of certain shares of Aditya Infotech limited by Company and the acquisition of certain shares of ail Dixon technologies private limited by AIL (Neutral)

Stocks Picker Articles

10 Sep 2024 05:36

Forthcoming Event

10th September: Camlin Fine Sciences, Narmada Agrobase, Texel Industries to consider Fund Raising

11th September: Dharani Sugars & Chemicals, Shine Fashion (India), Satin Creditcare Network, Ravindra Energy to consider Fund Raising

12th September: BAJAJHLDNG, MAHSCOOTER to consider Dividend; Nazara Technologies, Indo Thai Securities, Minda Corporation to consider Fund Raising

13th September: Sellwin Traders to consider Bonus issue & Stock Split; Bigbloc Construction to consider Bonus issue

17th September: Jonjua Overseas to consider Fund Raising

20th September: Godfrey Phillips India to consider Bonus issue

Stocks Picker Articles

10 Sep 2024 04:49

*Fund Houses Recommendations*


GS on *Marico:* Maintain Buy on Company, raise target price at Rs 715/Sh (Positive)

CLSA on *ICICI Bank:* Maintain Outperform on Bank, target price at Rs 1500/Sh (Positive)

Jefferies on *Axis Bank:* Maintain Buy on Bank, target price at Rs 1500/Sh (Positive)

CLSA on *Nippon Life:* Maintain Outperform on Company, target price at Rs 700/Sh (Positive)

Incred on *SBI Life:* Upgrade to Add on Company, raise target price at Rs 2150/Sh (Positive)

MOSL on *Coforge:* Upgrade to Buy on Company, raise target price at Rs 8100/Sh (Positive)

MOSL on *TCS:* Maintain Buy on Company, raise target price at Rs 5400/Sh (Positive)

MOSL on *Infosys:* Maintain Buy on Company, raise target price at Rs 2200/Sh (Positive)

MOSL on *HCL Tech:* Maintain Buy on Company, raise target price at Rs 2200/Sh (Positive)

MOSL on *LTIM:* Maintain Buy on Company, raise target price at Rs 7400/Sh (Positive)

MOSL on *LTTS:* Maintain Buy on Company, raise target price at Rs 6600/Sh (Positive)

MOSL on *Cyient:* Maintain Buy on Company, raise target price at Rs 2300/Sh (Positive)

MOSL on *Persistent:* Maintain Buy on Company, target price at Rs 6300/Sh (Positive)

MOSL on *Tech M:* Maintain Neutral on Company, raise target price at Rs 1600/Sh (Positive)

MOSL on *MPhasis:* Maintain Neutral on Company, raise target price at Rs 3000/Sh (Positive)

MS on *Suzlon:* Maintain Overweight on Company, target price at Rs 73/Sh (Positive)

Jefferies on *GMR Airports:* Maintain Buy on Company, target price at Rs 106/Sh (Positive)

Citi on *Vodafone Idea:* Maintain Buy on Company, target price at Rs 22/Sh (Positive)

HSBC on *Life Insurance:* Industry’s individual APE growth moderated to 10% Vs 18-19% YoY run-rate in previous 3 months (Neutral)

Jefferies on *India Strategy:* Chief Economic Advisor has raised the debate of whether headline inflation or core inflation should be used for policy making (Neutral)

Morgan Stanley on *Life Insurance:* Aug-24 individual APE at 15% YoY was on a strong base (Neutral)

Citi on *Infosys:* Maintain Neutral on Company, target price at Rs 1955/Sh (Neutral)

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

MOSL on *Zensar Tech:* Maintain Neutral on Company, target price at Rs 760/Sh (Neutral)

Citi on *HDFC Life:* Maintain Buy on Company, target price at Rs 735/Sh (Neutral)

Citi on *LIC:* Maintain Buy on Company, target price at Rs 1280/Sh (Neutral)

Citi on *SBI Life:* Maintain Buy on Company, target price at Rs 2000/Sh (Neutral)

Citi on *ICICI Pru:* Maintain Neutral on Company, target price at Rs 670/Sh (Neutral)

MS on *Dixon Tech:* Maintain Equal weight on Company, target price at Rs 8696/Sh (Neutral)

Stocks Picker Articles

09 Sep 2024 05:43

Forthcoming Event

09th September: Piccadily Agro Industries; PNB Housing Finance; Semac Consultants; Tembo Global Industries; Tilak Ventures; Variman Global Enterprises; Vistar Amar to consider Fund Raising; Sacheta Metals to consider Stock Split

10th September: Camlin Fine Sciences, Narmada Agrobase, Texel Industries to consider Fund Raising

11th September: Dharani Sugars & Chemicals, Shine Fashion (India), Satin Creditcare Network, Ravindra Energy to consider Fund Raising

12th September: BAJAJHLDNG, MAHSCOOTER to consider Dividend

13th September: Sellwin Traders to consider Bonus issue & Stock Split

17th September: Jonjua Overseas to consider Fund Raising

20th September: Godfrey Phillips India to consider Bonus issue