Stocks Picker Articles

23 Sep 2024 04:39

*Fund Houses Recommendations*


Jefferies on *Amber Ent:* Maintain Buy on Company, target price at Rs 5200/Sh (Positive)

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

GS on *M&M:* Maintain Buy on Company, target price at Rs 3400/Sh (Positive)

Citi on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1547/Sh from Rs 1464/Sh (Positive)

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

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

Incred on *Ugro:* Initiate Add on Company, target price at Rs 350/Sh (Positive)

Investec on *Chola Fin:* Upgrade to Buy on Company, raise target price at Rs 1850/Sh (Positive)

GS on *L&T FH:* Maintain Buy on Company, target price at Rs 202/Sh (Neutral)

Nomura on *Indegene:* Imitate Neutral on Company, target price at Rs 700/Sh (Neutral)

MS on *Concor:* Maintain Equal weight on Company, target price at Rs 1083/Sh (Neutral)

MS on *Telecom:* July Trends Highlights: Even With Tariff Hikes; Only A Marginal Decline In Ind Subs (Neutral)

Jefferies on *Telecom:* In July’24, Sector's Active Subs Base Declined By 1.5m MoM (Neutral)

CLSA on *Urban Consumption:* A cursory look at sales of QSRs and FMCG companies suggests tepid consumption patterns (Neutral)

JPMorgan *India Strategy:* Time for tactical caution in Small and Mid-Caps (Neutral)

Investec on *Fusion Micro:* Downgrade to Sell on Company, cut target price at Rs 300/Sh (Negative)

Stocks Picker Articles

23 Sep 2024 04:38

*Shalibhadra Finance Ltd.: Dividend Rs. 1.20; Ex Date: 23-Sep-2024
*SBC Exports Ltd.: Final Dividend Rs. 0.05; Ex Date: 23-Sep-2024
*Sera Investments & Finance India Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Shakti Pumps (India) Ltd.: Final Dividend Rs. 4.00; Ex Date: 23-Sep-2024
*Shelter Pharma Ltd.: Final Dividend Rs. 0.33; Ex Date: 23-Sep-2024
*Signpost India Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*SMS Lifesciences India Ltd.: Dividend Rs. 1.50; Ex Date: 23-Sep-2024
*SMS Pharmaceuticals Ltd.: Final Dividend Rs. 0.40; Ex Date: 23-Sep-2024
*Silicon Rental Solutions Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Steel Strips Wheels Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Starteck Finance Ltd.: Final Dividend Rs. 0.25; Ex Date: 23-Sep-2024
*Shreeji Translogistics Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Sunteck Realty Ltd.: Final Dividend Rs. 1.50; Ex Date: 23-Sep-2024
*Shri Venkatesh Refineries Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Talbros Engineering Ltd.: Final Dividend Rs. 2.50; Ex Date: 23-Sep-2024
*Vedavaag Systems Ltd.: Final Dividend Rs. 0.75; Ex Date: 23-Sep-2024
*Vikram Thermo (India) Ltd.: Final Dividend Rs. 0.75; Ex Date: 23-Sep-2024
*Vipul Organics Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Vishvprabha Ventures Ltd.: Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Vasundhara Rasayans Ltd.: Final Dividend Rs. 2.00; Ex Date: 23-Sep-2024
*Zodiac Ventures Ltd.: Final Dividend Rs. 0.25; Ex Date: 23-Sep-2024

Stocks Picker Articles

23 Sep 2024 04:37

Bulk Deal & Insider Trade Update

*Bulk Deals*
*Concord Biotech Limited: Ubs Principal Capital Asia Limited Sell 740159 Shares @ Rs. 2589.86
*Concord Biotech Limited: The Vanguard Group Inc A/C Vanguard Total International Stock Index Fund Buy 697936 Shares @ Rs. 2596.08
*Five-Star Bus Fin Ltd: The Vanguard Group Inc A/C Vanguard Total International Stock Index Fund Buy 2056090 Shares @ Rs. 806.46
*Concord Biotech Limited: The Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index Fund A Series Of Vanguard Internat Buy 577183 Shares @ Rs. 2596.08
*Five-Star Bus Fin Ltd: The Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index Fund A Series Of Vanguard Internat Buy 1722715 Shares @ Rs. 806.46
*Five-Star Bus Fin Ltd: Ubs Principal Capital Asia Limited Sell 1580163 Shares @ Rs. 804.74
*Marksans Pharma Limited: Ubs Principal Capital Asia Limited Sell 3401630 Shares @ Rs. 317.22
*Marksans Pharma Limited: Vanguard Total International Stock Index Fund Buy 2697280 Shares @ Rs. 316.85
*Marksans Pharma Limited: Vanguard Emerging Markets Stock Index Fund A Series Of Vanguard International Equity Index Funds Buy 2301640 Shares @ Rs. 316.85
*Genus Power Infrastru Ltd: The Vanguard Group Inc Ac Vanguard Total International Stock Index Fund Buy 1519667 Shares @ Rs. 416.31
*Sansera Engineering Ltd: The Vanguard Group Inc Ac Vanguard Total International Stock Index Fund Buy 319169 Shares @ Rs. 1669.38
*Iifl Securities Limited: Ubs Principal Capital Asia Limited Sell 1710992 Shares @ Rs. 309.84
*Va Tech Wabag Ltd: The Vanguard Group Inc Ac Vanguard Total International Stock Index Fund Buy 313144 Shares @ Rs. 1516.23
*Arvind Fashions Limited: The Vanguard Group Inc Ac Vanguard Total International Stock Index Fund Buy 671996 Shares @ Rs. 588.68
*Ssl: Mint Focused Growth Fund Pcc- Cell 1 Sell 62400 Shares @ Rs. 76.09

Insider Trade
Acquisition
* Garnet International Ltd.: Kartik Gaggar, Promoter Group, Acquisition 2900 shares on 20-Sep-24

Disposal
* Mahindra & Mahindra Ltd.: Rajesh Jejurikar, Director, Disposal 4400 shares on 20-Sep-24

Pledge
* Lloyds Metals And Energy Ltd.: Thriveni Earthmovers Private Limited, Promoter, Pledge 2550000 shares on 19-Sep-24

Stocks Picker Articles

23 Sep 2024 04:30

*Stocks in News*


*BHEL:* Company bags order worth Rs 6,100 cr from NTPC to set up for 800 MW Sipat Supercritical Thermal Power Project (Positive)

*Hind Rectifiers:* Company bags order worth more than ₹200 crore from the Indian railways. (Positive)

*Bikaji Foods:* Ministry of corporate affairs approved incorporation of Bikaji foods retail (Positive)

*Jupiter Wagons:* Company expects to achieve a revenue of Rs 3,000 to 4,000 cr from its wheelset business by the end of FY27. (Positive)

*Tata Steel:* Company commissions India’s largest blast furnace at kalinganagar, crude steel capacity at kalinganagar to expand from 3 MTPA to 8 MTPA with an investment of Rs 27,000 crore. (Positive)

*Global Health:* Company has had its credit rating outlook revised to 'Positive' by CRISIL Ratings (Positive)

*IDFC FIRST Bank:* The bank has secured approval from the RBI for the reappointment of V. Vaidyanathan as Managing Director and Chief Executive Officer. (Positive)

*Dr. Reddy’s:* USFDA completed a routine good manufacturing practice inspection at R&D centre in BACHUPALLY, Hyderabad. (Positive)

*HDFC Bank:* Company unit HDB Finance OKs IPO including Rs 2,500 crore fresh issue, offer for sale. (Positive)

*India Glycols:* Company Tie-Up with Amrut Distilleries Private Limited (Positive)

*Adani Total Gas:* Company secures largest global financing in the city gas distribution business, financing will accelerate ATGL’S CGD network infrastructure development program (Positive)

*Matrimony:* Company plans to launch a new line of business in area of jobs called manyjob, manyjobs will focus exclusively on grey-collar jobs market (Positive)

*Asian Energy:* Company received an order from ONGC, barring the company from participating in tenders for two years starting 20.9.2024. (Positive)

*Piccadily Agro:* Company says indri single malt Indian whisky debuts on shelves of premium TESCO stores in England (Positive)

*Glenmark Pharma:* USFDA has issued form 483 with zero observations after an inspection at the Company’s formulation manufacturing facility. (Positive)

*Emerald Finance:* Company has partnered with KPS Educational Society to offer its Early-Wage-Access program to the school's employees. (Positive)

*Allied Blenders:* MD alok gupta says Company is targeting double-digit growth in revenue in the current financial year after clearing out all its debts (Positive)

*KEC International:* Company has now won nearly 70% of the total orders it received in FY24 (Positive)

*BFC Finance:* Credit rating of long term fund based term loans upgraded by ICRA to AA- from A+ (Positive)

*KEI Industries:* Successfully commenced commercial production of LV/MV cables in new plant in Rajasthan (Positive)

*HFCL:* Company to develop and supply critical sub-systems to General Atomics (Positive)

*Som Distilleries:* Infomerics ratings upgrades bank loan ratings to ‘A-’ from ‘BBB+’ (Positive)

*Artson:* Company has received Letter of Award of Rs 33.33 Crores (Positive)

*ONGC:* Company signs Non-Associated Gas deal in Azeri-Chirag-Deepwater Gunashli (ACG), Azerbaijan (Positive)

*VVIP Infratech:* Company has recently been awarded two tenders in the Electrical and Sewer Treatment Plant/Sewer Network Segment in the state of Uttarakhand cumulatively amounting to Rs. 188.29 Cr (Positive)

*Aster DM Healthcare:* Company enters into Lease Agreement with Aparna Constructions and Estates for setting up new Aster Woman and Children Hospital in Hyderabad (Positive)

*Avalon Technologies:* Company’s CFO, Mr. RM Subramanian, has resigned (Neutral)

*Astra Zeneca:* Company received a final assessment order for the assessment year 2021-22 with adjustments on legacy transfer pricing and corporate tax issues, totaling Rs. 14.08 Cr. (Neutral)

*Ramco Cements:* Company’s s Total Cement Grinding Capacity Has Increased By 0.9 MTPA, From 23.14 MTPA to 24.04 MTPA with an Aggregate Investment of Rs.58 Crores (Neutral)

Stocks Picker Articles

20 Sep 2024 05:42

Right Issue
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

20 Sep 2024 04:46

Stock in Action

Lemon tree hotels: Lemon Tree Hotels is a leading mid-market hotel chain in India, offering a range of accommodations from economy to upscale segments. The company operates a diverse portfolio of properties across key cities, focusing on providing quality services at competitive prices. Lemon Tree Hotels emphasizes on customer satisfaction and expanding its footprint in the hospitality industry. Revenue for the company stood at INR 268 crores, showing a 18% drop Q-o-Q basis and a 19.6% growth Y-o-Y basis. EBITDA for the comapny was INR 115 crores, with a fall of 32.7% Q-o-Q basis and a growth of 8.5% Y-o-Y basis. Hospitality segment is a segment which is highly seasonal, due to which a year on year comparison is better to understand the growth of the company. During the quarter, the company signed 3 new management and franchise contracts, which added 187 rooms to pipeline and operationalised 4 hotels, which added 331 rooms. As of 30th June 2024, the inventory for the group stands at 107 operational hotels with 10,125 rooms, and the pipeline comprises an additional 4,000 rooms. On 28th August 2024, the company announced the signing of yet another new property in Ujjain, Madhya Pradesh. The new property in Ujjain is expected to open in FY27 and shall be managed by Carnation Hotels Private, a wholly-owned subsidiary of Lemon Tree Hotel. The Lemon Tree Hotel in Ujjain will offer 72 elegantly designed rooms, with connectivity through both public and private road transport including nearby airport and railways. Positive on Lemon Tree as the company is expected to show significant growth in upcoming years.

Power Grid: In the light of the increasing capex and new project inflows, Power Grid has raised its capex guidance to Rs 18,000 crore and expects to incur a similar capex in FY26. This is much higher, compared to the FY24 capex of Rs 12,500 crore. Moreover, the pipeline of projects is strong. The company is sitting on projects worth Rs 1.14 lakh crore. Orders to the tune of close to Rs 70,000-80,000 crore are expected to be executed in the next 24-30 months, supporting good revenue and earnings visibility. In the recent bids for tariff-based projects, the company recorded a share of close to 65%. It is expected that, in the forthcoming bids, it will continue to have a higher share and thus grab more projects. The company has indicated that projects worth close to Rs 1.36 lakh crore would be awarded for inter-state transmission and another Rs 37,000 crore order would come for intra-state transmission lines. That apart, cross-border transmission and international projects provide strong visibility till 2030. Positive on Power Grid given the growing opportunities in the T&D segment, higher winning ratio, and expected improvement in execution.

Stocks Picker Articles

20 Sep 2024 04:45

*Stocks in News*


*Phoenix Mills:* Company has emerged as the highest bidder for two strategically located plots in Mohali, Punjab. (Positive)

*Suzlon Energy:* Company excluded from Stage 1 Additional Surveillance Measure framework (Positive)

*HUDCO:* Company has potential for extending Rs 75,000 crore to Rs 1 lakh crore loan assistance under PM Awas Yojana. (Positive)

*IIFL Finance:* RBI lifts restrictions imposed on gold loan business of the company. (Positive)

*Infosys:* Company and POSTI extend strategic collaboration. (Positive)

*AU Small Finance:* Partners with Niva Bupa Health Insurance to priorities customer health (Positive)

*IDFC FIRST Bank:* The bank has secured approval from the RBI for the reappointment of V. Vaidyanathan as Managing Director and Chief Executive Officer. (Positive)

*EMS:* Company gets order worth Rs 6.81 billion (Positive)

*Cosmic CRF:* Company unit gets order worth Rs 1.27 billion (Positive)

*MSTC:* Company unit ferro scrap nigam to be sold to listed Japanese cos konoike transport co. Ltd for Rs 320 crore (Positive)

*CESC:* Company announces the incorporation of three wholly-owned subsidiary to focus on the renewable power sector. (Positive)

*Whirlpool:* Board approves acquisition of further 9.56% in arm Elica PB for Rs 167 crore post acquisition. (Positive)

*Sandur Manganese:* Company received consent from the Karnataka State Pollution Control Board to increase Manganese Ore production from 0.43 MTPA to 0.55 MTPA. (Positive)

*Thomas Cook:* Company opened a new franchise outlet in Chromepet, Chennai, expanding its network to 9 locations in the city and 15 across Tamil Nadu (Positive)

*Indian Overseas Bank:* Public sector bank said it has received an order from the Income Tax Department under Section 250 of the Income Tax Act, 1961, confirming a refund of ₹123.87 crore (Positive)

*Axis Bank:* SEBI bars Axis Capital from merchant banking in debt segment (Neutral)

*Jyothy Labs:* Company signed purchase agreement with smartwash solutions for acquiring its brand QUICLO, entity being acquired is in laundry service sector (Neutral)

*Pix Transmissions:* Company announced the completion of Independent Director Mr. Nigel Savio Lobo's second and final term of 5 years, effective September 19, 2024 (Neutral)

*Tata Communications:* Company has issued and allotted Commercial Paper aggregating to an amount of Rs 250 crores (Neutral)

*D&H India:* Company announced the resignation of Independent Director, Balraj Kishor Namdeo, and effective September 19, 2024. (Neutral)

*Shriram Finance:* Company in its meeting held on 19th Sep 2024, approved and allotted subordinated, unsecured, rated, listed, redeemable, taxable ncd’s, issue size of Rs 150 cr (Neutral)

*Shraddha Prime:* Company announces the launch of its new redevelopment project, SHRADDHA PRATHAM, in Borivali East, Mumbai. (Neutral)

*Kirloskar Brothers:* Company along with Kolhapur steel entered into shareholders agreement for acquisition of 26% of share capital of sunsure solarpark nineteen, deal for Rs 50 Million. (Neutral)

*Balkrishna Industries:* Company has completed the CAPEX for 30,000 MTPA of high value of advanced carbon material and commissioned the plant (Neutral)

*GE T&D India:* Company to exercise the oversubscription option in offer for sale, offer size will be up to 40 million shares of equity shares (Neutral)

*NTPC:* Board has granted investment approval for two major thermal power projects with a combined investment of ₹20,921.85 crore (Neutral)

*Tata Power:* Company discloses litigation with Adaro International in arbitration over coal supply agreement (Neutral)

*Unitech Limited:* Company acquires additional equity in wholly-owned subsidiary Unitech Holdings for Rs 15 Crore (Neutral)

*Suven Pharmaceuticals:* Company announced the resignation of Vaidheesh Annaswamy as Executive Chairman and Director, effective September 19, 2024. (Negative)

Stocks Picker Articles

19 Sep 2024 05:26

*Corporate Actions*

NTPC Subsidiary NTPC Green Energy has filed draft papers with the capital markets regulator to raise Rs 10,000 crore via an IPO.

GE T&D India Promoters Grid Equipments & GE Grid Alliance BV will be selling up to 11.7% equity stake in the company via an offer-for-sale (OFS), with an option to additionally sell up to a 3.9% stake as part of an oversubscription option. The floor price has been fixed at Rs 1,400 per share. The OFS will open for non-retail investors on September 19 and for retail investors on September 20.

*Dividend*

*19-Sep-24*
BLIL: Dividend - Rs. - 3.80
PTC: Final Dividend - Rs. - 7.80
BALMLAWRIE: Final Dividend - Rs. - 8.50
GUJALKALI: Dividend - Rs. - 13.85
MUNJALAU: Final Dividend - Rs. - 2.00
DENISCHEM: Final Dividend - Rs. - 2.50
SANDUPHQ: Final Dividend - Rs. - 0.80
MANGCHEFER: Final Dividend - Rs. - 1.50
1STCUS: Final Dividend - Rs. - 1.00
NIPPOBATRY: Final Dividend - Rs. - 5.00
CYBERTECH: Final Dividend - Rs. - 2.00
TIRUFOAM: Final Dividend - Rs. - 1.00
HGS: Final Dividend - Rs. - 7.00
FLUIDOM: Final Dividend - Rs. - 5.50
ENIL: Final Dividend - Rs. - 1.50
SAIL: Final Dividend - Rs. - 1.00
BCPL: Final Dividend - Rs. - 0.70
MOLDTECH: Final Dividend - Rs. - 1.40
HITECHGEAR: Final Dividend - Rs. - 5.00
KIRANVYPAR: Final Dividend - Rs. - 1.00
ANSALBU: Dividend - Rs. - 1.00
SANGAMIND: Dividend - Rs. - 2.00
SHALBY: Final Dividend - Rs. - 1.20
INDOCO: Final Dividend - Rs. - 1.50
KEYFINSERV: Final Dividend - Rs. - 1.00
SHARDAMOTR: Final Dividend - Rs. - 9.92
SURAJ: Final Dividend - Rs. - 2.00
APLAPOLLO: Final Dividend - Rs. - 5.50
ABCINDQ: Final Dividend - Rs. - 0.50
ALICON: Final Dividend - Rs. - 4.50
HINDCOPPER: Final Dividend - Rs. - 0.92
MAZDOCK: Final Dividend - Rs. - 12.11
HLEGLAS: Final Dividend - Rs. - 1.10
INDGELA: Final Dividend - Rs. - 1.00
TEXRAIL: Dividend - Rs. - 0.50
MEDICAMEQ: Final Dividend - Rs. - 1.00
SANSERA: Final Dividend - Rs. - 3.00
SAMRATPH: Final Dividend - Rs. - 1.00
SBCL: Final Dividend - Rs. - 1.00
COMPEAU: Dividend - Rs. - 1.00
NIKHILAD: Final Dividend - Rs. - 0.20
MCX: Final Dividend - Rs. - 7.64
NEOGEN: Final Dividend - Rs. - 2.00
MOLDTKPAC: Final Dividend - Rs. - 1.00
POLYMED: Final Dividend - Rs. - 3.00
LUXIND: Final Dividend - Rs. - 2.00
SYSTMTXC: Final Dividend - Rs. - 1.00
BHARATAGRI: Final Dividend - Rs. - 0.05
ORIRAIL: Dividend - Rs. - 0.10
VADILALIND: Dividend - Rs. - 1.50
VADILENT: Dividend - Rs. - 1.50
OLECTRA: Final Dividend - Rs. - 0.40
TRU: Dividend - Rs. - 0.01
SWANENERGY: Final Dividend - Rs. - 0.10

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

*Buyback*
Arex Industries: 12-Sep-24; Close: 19-Sep-24
Jai Corp: 13-Sep-24; Close: 20-Sep-24
Insecticides (India): 18-Sep-24; Close: 24-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*
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

*Right Issue*
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

19 Sep 2024 04:51

*Fund Houses Recommendations*


JP Morgan on *Westlife Food:* Maintain Overweight on Company, target price at Rs 925/Sh (Positive)

MS on *Brainbees:* Initiate Overweight on Company, target price at Rs 818/Sh (Positive)

BofA on *Brainbees:* Initiate Buy on Company, target price at Rs 770/Sh (Positive)

HSBC on *Bajaj Auto:* Maintain Buy on Company, raise target price at Rs 14000/Sh (Positive)

HSBC on *TVS Motors:* Maintain Buy on Company, raise target price at Rs 2800/Sh (Positive)

Jefferies on *Power Grid:* Maintain Buy on Company, target price at Rs 390/Sh (Positive)

Jefferies on *Adani Energy:* Maintain Buy on Company, target price at Rs 1365/Sh (Positive)

Jefferies on *NTPC:* Maintain Buy on Company, target price at Rs 485/Sh (Positive)

Jefferies on *Godrej Prop:* Maintain Buy on Company, target price at Rs 3725/Sh (Positive)

Emkay on *Tata Motors:* Upgrade to Buy on Company, target price at Rs 1175/Sh (Positive)

MOSL on *AU Bank:* Maintain Buy on Company, target price at Rs 830/Sh (Positive)

CLSA on Consumer: QC narrows price gap vs. *DMart*, with Zepto being the key aggressor (Positive)

Macquarie on Rate Cut Beneficiaries: Apart from a potential long in *Non-Bank financials*, we find no obvious Fed rate cut trade in India (Positive)

Citi on *Exide Ind:* Maintain Buy on Company, cut target price at Rs 560/Sh (Neutral)

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

Stocks Picker Articles

18 Sep 2024 05:27

Forthcoming Event

18th September: JWL to consider Dividend; Aavas Financiers, Nazara Technologies, SBI Cards and Payment Services, Tirupati Forge to consider Fund Raising

19th September: 360 One Wam, EMS Limited, Geojit Financial Services, Reliance Infrastructure, Transwarranty Finance to consider Fund Raising; Motisons Jewellers consider Stock Split

20th September: Godfrey Phillips India to consider Bonus issue; Satin Creditcare Network, Mankind Pharma, Paisalo Digital, Utkarsh Small Finance Bank to consider Fund Raising

23rd September: Ugro Capital to consider Fund Raising

24th September: Lexus Granito (India), Prudential Sugar Corporation, Vakrangee to consider Fund Raising

25th September: Sellwin Traders to consider Bonus issue & Stock Split

08th October: Julien Agro Infratech to consider Stock Split

Stocks Picker Articles

18 Sep 2024 04:49

Stock in Action

Fiem Industries: The recent surge in demand for 2Ws, Fiem Industries is on track for a significant improvement in its financial outlook. The rising dominance of LED lights, acquisition of new clients, expansion of existing client relationships, and the growing popularity of electric vehicles (EVs) enhance Fiem’s potential as a strong long-term investment. Moreover, the company's entry into the passenger vehicle LED light segment is anticipated to further strengthen its financial performance. It successfully delivered the first product for Mercedes and also received the second order for the development of headlamp and tail lamp for the new project. The management expects the revenue contribution from the segment to be in double digits in the next 3-5 years against 2-3% now. Fiem, like other auto ancillary companies, is actively tapping the EV market. At present supplying to major EV OEMs, such as Ola and Okinawa, Fiem expects significant growth in this segment. Fiem has won orders for new models from TVS for its recently launched Apache RTR 310. It has also started supplying for the Royal Enfield new Classic 350 cc model which is fully equipped with LED lights where the content per vehicle is around Rs 2-2.5x compared to conventional cost. In the EV segment, the company has secured contracts from several new customers, including names such as Raptee, Polaris, and Numerus. Positive on Fiem Industries as the company is on track to better its financial numbers.

Concord Biotech: Concord Biotech is a leading entity in the fermentation API space posted a top-line growth of 19% in FY24, aided by a foray into formulations. While growth in formulations dented gross margins, EBITDA margins improved, thanks to operating leverage and stable pricing. The management mentions that the recent softness in API business was due to the delay in regulatory approval for one of the products. After the approval, the company has already started exporting that product to Europe. Further, the new plant for API at Limbasi, Gujarat, is already seeing an increased offtake. The current utilisation here is at 38 percent and the company guides for a further ramp-up. Also, the company has a product pipeline of 8-10 molecules, which should get commercialised in the next 3-4 years. They include Fidaxomicin and Daptomycin (anti-infectives), and Epirubicin, Doxorubicin, Idarubicin, and Pirarubicin (oncology). This should help Concord maintain segmental sales break-up between API and formulations at a ratio of 80:20 in the medium run. While the first quarter of FY25 was seasonally lean, the coming quarters are expected to benefit from the ramp-up in newer plants. The main growth driver for the company in recent times has been the formulations business, which now constitutes 21% of sales, compared to 16 percent in the same quarter last year. Positive on Concord Biotech given the sustainable financial performance.

Stocks Picker Articles

18 Sep 2024 04:49

*Stocks in News*


*NTPC:* Government approves NPCIL-NTPC JV company to take up Nuclear Power Generation (Positive)

*SKF India:* Company initiates a separation of its automotive business, separation of automotive business with objective of separate listing on Nasdaq Stockholm (Positive)

*Mirza International:* Company Launches 100% Wholly Owned Unit, Genesis Brands Pvt Ltd, For Expanding Footwear Retail and E-commerce Operations. (Positive)

*Vakrangee:* Company partners with star health insurance to offer health insurance products (Positive)

*Infosys:* Company partners with Metro Bank to accelerate digital transformation. (Positive)

*Indo Count:* Company unit acquired majority stake in fluvitex USA, entity being acquired belongs to manufacturing of all kinds of textile products like pillows, comforters, and similar filled products (Positive)

*Oil upstream stocks:* Government scraps windfall tax on petroleum crude as global prices cool. (Positive)

*Hindalco:* Evaluating solar module production plans for next 5 years (Positive)

*Tilaknagar Industries:* Company gets Rs 103.6 million as partial subsidy from government of Maharashtra (Positive)

*NIBE Ltd:* Government of Maharashtra has confer the status of “Mega Project” under package Scheme of Incentives Policy, 2019, its proposed manufacturing facility at MIDC, Shirdi, Ahemdnagar (Positive)

*Doms Industries:* Company acquires majority stake in Uniclan Healthcare for Rs 54.88 crore (Positive)

*Avantel:* Company received order worth Rs 93.9 million from Newspace india for supply, installation and commissioning of ground segment hub (Positive)

*KCP:* High court of judicature at madras has passed an order in favor of Company (Positive)

*Torrent Power:* Company receives LoI Maharashtra State Electricity Distribution for “Supply of 1,500 MW Energy Storage Capacity from Pumped Hydro Storage Project (Positive)

*Indo Tech:* Company received letter of award worth Rs 425.6 million for supply of 4 NOS of 192 MVA transformers (Positive)

*Kernex/Railtel:* Kavach system operationalized on 108 km Kota-Sawai Madhopur section; 54 km/month pace. (Positive)

*Rattan India:* Company’s unit launches two electric motorcycles— RV1 and its premium variant. (Positive)

*REC:* Company has signed non-binding MoUs with RE developers aggregating about ₹ 1.12 lakh crore which will be implemented over a period of 5 years. (Positive)

*Tata Power:* Company’s solar cell unit in Tamil Nadu to be fully functional by October: CEO Praveer Sinha (Positive)

*DCM Shriram Industries:* Company receives BSE observation letter for composite scheme of arrangement (Neutral)

*Tata Motors:* TML SecuritiesTrust sells 1.15 crore shares of Tata Motors as part of DVR swap. (Neutral)

*Biocon:* LIC raises stake in Company to 5.023% from 4.982%. (Neutral)

*TVS Holdings:* Company unit to acquire additional securities in emerald haven town and country; deal for Rs 25 million, entity being acquired belongs to real estate, construction sector (Neutral)

*Hindustan National Glass:* Mr. Amal Chandra Saha Appointed as Non-Executive Independent Director of the Company (Neutral)

*Dhanuka Agritrch:* ICRA Limited has withdrawn the rating of AA (stable) and A1+ assigned for the bank facilities of the Company. (Neutral)

*Utkarsh Small Finance Bank:* RBI approves variable remuneration to be paid to MD & CEO for fy24 & fixed remuneration for FY25 (Neutral)

*Mankind Pharma:* Board meeting on September 20 to consider and approve raising of funds. (Neutral)

*Satin Creditcare:* Company to consider fund raising via NCDs on private placement basis on September 20 (Neutral)

*Mphasis:* Company appoints Ajay Arya as Head of Mergers & Acquisitions. (Neutral)

*Zydus Life:* Company to acquire Sterling Biotech's fermentation-based API business for Rs 84 crore. (Neutral)

*VST Ind:* Ace investor Radhakishan Damani cuts stake in VST Industries. (Negative)

Stocks Picker Articles

17 Sep 2024 05:29

*Corporate Actions*

P N Gadgil Jewellers is set to make stock market debut today, September 17. The issue price is fixed at Rs. 480 per share.

*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

*Right Issue*
Modern Engineering: Open: 05-Sep-24; Close: 17-Sep-24

Stocks Picker Articles

17 Sep 2024 05:15

Stock in Action

Lemon Tree Hotels: Lemon Tree Hotels management expects a pick-up in occupancies from H2FY25. A seasonally strong period would drive growth. Moreover, Lemon Tree Hotels will complete renovation work for the bulk of the room inventory in H1FY25. The renovated inventory will be available for sale in the second half of the fiscal, which will enhance growth prospects. With a better top-line growth, reduction in renovation expenses, and higher pricing for renovated rooms, we expect a strong pick-up in earnings from H2. The hotel industry demand is expected to remain ahead of supply over the next few years. Demand momentum is expected to be strong owing to rising incomes, preference for travel, better connectivity, and the development of tourist spots by the government. While supply is picking up, it is likely to lag demand. As per a Horwath HTL report, industry demand is expected to grow by 10.6 percent, while supply is expected to grow at a much slower rate of 6.4 percent over the FY24-27 period. The favourable demand-supply dynamics will sustain the pricing growth for hotel players. Enhanced pricing will not only boost growth but will also lead to better margins. In order to tap the strong demand environment, Lemmon Tree has lined up healthy room additions. Lemon Tree Hotels plans to add 4,000 rooms over the current count of about 10,000. The entire room addition is via the management contract route, indicating an asset-light expansion. Positive on Lemon Tree Hotels as the occupancies are expected to pick up from H2FY25.

Cholamandalam Investment and Finance Company: Cholamandalam Investment and Finance Company reported healthy performance during 1QFY25 owing to higher -than-projected growth and steady asset quality. The management reiterated its stance that a broad-based growth in disbursements will continue to drive asset growth. A steady growth in vehicle finance (VF), and a healthy pace of growth in the two-wheeler segment, led by improving rural demand, contributed to a better YoY disbursement growth in the June quarter. However, the sequential performance was muted. Moreover, mortgage portfolio growth continued to outpace other segments led by a geographical expansion in Tier2/3/4 towns, which remains a key focus area of the company. Continuous growth in new business lines led to a higher share in the disbursement mix at 24% and the company remains committed to grow these businesses. The share of these businesses in the AUM will gradually increase to 15%, as per the management. This will remain one of the key drivers of growth and productivity in the coming period. The asset quality of the mortgage portfolio was stable. However, the company increased provision after visible stress in SME and SBPL (Secured Business & Personal Loan) businesses, and commercial vehicle loans. Positive on Cholamandalam Investment and Finance company as it will leverage its pan-India presence to increase the distribution network in Tier 3/4 markets.

Stocks Picker Articles

17 Sep 2024 04:45

*Stocks in News*


*Firstsource:* Company partners with Microsoft Azure OpenAI for digital transformation offerings (Positive)

*Globus Spirits:* Company launches its first Single Malt Whisky under the brand DŌAAB India Craft Whisky (Positive)

*Strides Pharma Science:* Company receives approval from U.S. FDA for generic antidepressant drug Fluoxetine. (Positive)

*Tarmat:* Company received Order worth Rs 139.5 crore from Maharashtra State Infrastructure Development Corporation for highway work. (Positive)

*Indo Count:* Company unit acquired majority stake in fluvitex USA, entity being acquired belongs to manufacturing of all kinds of textile products like pillows, comforters, and similar filled products (Positive)

*Thomas Cook:* Company capitalizes on Kolkata's high-potential market with the launch of its store in New Town, Increases consumer access to 8 locations in the city. (Positive)

*HPL Electric:* Company has successfully obtained an order valued at Rs 144 crore for supply of smart meters. (Positive)

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

*Shapoorji Pallonji Group:* Flagship infrastructure firm, Afcons Infrastructure, gets SEBI nod for its ₹7,000 crore IPO (Positive)

*TVS Motor:* Company launches Apache RR310 at starting price of Rs 2.75 lakh, ex-showroom (Neutral)

*Adani Wilmar:* Adani Enterprises and Wilmar International are expected to start sale of a minority stake in their consumer joint venture Adani Wilmar. (Neutral)

*Krishival Foods:* Company approved to make strategic investment in melt 'n ' mellow foods; deal for Rs 90 million (Neutral)

*JK Tyre:* Company board approved scheme of amalgamation of Cavendish industries with Company (Neutral)

*HEG:* CFO of the Company, Gulshan Kumar Sakhuja resigns (Neutral)

*Akme:* Exicutive Director of the Company, Ramesh Kumare Jain resigns (Neutral)

*SAMIL:* Launches QIP to Raise Up ₹6,398.6 Cr, Issue Price ₹186.3-193.79/sh. (Neutral)

*Sandur Manganese:* Board of directors approved a proposal to raise up to ₹1,000 crore through the issuance of equity shares via QIP (Neutral)

*Spicejet:* Launches QIP to raise up to Rs 3,000 cr at an Indicative Issue price of Rs 61.60/share. (Neutral)

*Reliance Infrastructure:* Company to consider fundraising plans on September 19. (Neutral)

*Vedanta:* Company says no disruption to alumina refinery operations after water storage breach (Neutral)

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

*Allcargo Terminals:* August volumes see marginal declineof 1%, both month-on-month & year-on-year. (Neutral)

Stocks Picker Articles

23 Sep 2024 04:38

*Stock in Action*

*Bharat Dynamics:* Bharat Dynamics focus on efficient implementation and enhanced profitability has brought growing orders, leading to elevated cash flows and earnings. With a robust order book, revenue visibility remains promising and as the scale continues to rise, profitability is expected to follow suit. It stands tall as one of India's premier defence PSUs. However, company is facing multiple challenges, like muted execution, delays in receiving critical components, and geopolitical tensions in the Middle East. Hence, the company reported a contraction in revenue by 36% YoY in the first quarter. Despite higher gross margins, the company reported a loss of Rs 52 crore at EBITDA level in Q1FY25, compared to a loss of Rs 32 crore in Q1FY24, primarily due to higher employee cost. It success is underscored by its substantial order book, totaling Rs 20,831 crore, as of June 2024. This backlog, equivalent to approximately 8.7 times the FY24 revenue, serves as a robust platform for future expansion. The first quarter has been impacted by the ongoing geopolitical tensions in Europe and the Middle East. However, performance is likely to improve from Q2 onwards. The trend of securing new orders was pretty robust, with company is securing approximately Rs 1,500 crore in Q1FY25, compared to Rs 466 crore in Q1FY24, further strengthening its market position. Additionally, BDL maintains a strong bid pipeline of Rs 20,000 crore, both domestically and internationally. *Positive on Bharat Dynamics given the strong traction in defense sector.*

*Federal Bank:* Federal Bank did a good job of deposit mobilisation, gaining market share in a tough environment. The YoY and sequential growth in deposits stood at 20% and over 5% respectively in Q1 FY25. This deposit performance was the principal driver of robust advances growth of 20 percent YoY without any deterioration in the credit-to-deposit ratio. Notably, many of the high-yielding products have driven the growth although their share in the overall book is less than 25% of the book. Federal Bank has an excellent track record of asset quality after the clean-up of its books. The slippage was well contained in the quarter and the credit cost was a negligible 27 basis points. The bank is guiding to 30-35 basis points of credit cost for the year. The gross and net NPA of Federal Bank was at 2.11% and 0.6% respectively at the end of Q1, almost unchanged from last quarter. The new leader, will inherit a bank in good shape but will have his task cut out to improve the RoA from the current level of 1.3% to the levels of most peer private banks through an improvement in interest margin and fees as well as sweating the assets better to bring down the cost-to-income ratio. *Positive on Federal Bank given the good 1QFY25 performance.*

Stocks Picker Articles

23 Sep 2024 04:38

*Dividend Update*
*Akar Auto Industries Ltd.: Final Dividend Rs. 0.60; Ex Date: 23-Sep-2024
*Aarnav Fashions Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Aartech Solonics Ltd.: Final Dividend Rs. 0.25; Ex Date: 23-Sep-2024
*Addi Industries Ltd.: Final Dividend Rs. 1.25; Ex Date: 23-Sep-2024
*Advait Infratech Ltd.: Final Dividend Rs. 1.50; Ex Date: 23-Sep-2024
*Amba Enterprises Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Aksharchem (India) Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Atam Valves Ltd.: Final Dividend Rs. 0.75; Ex Date: 23-Sep-2024
*AVG Logistics Ltd.: Final Dividend Rs. 1.20; Ex Date: 23-Sep-2024
*Bajaj Healthcare Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*B&B Triplewall Containers Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Bharat Dynamics Ltd.: Final Dividend Rs. 0.85; Ex Date: 23-Sep-2024
*Best Agrolife Ltd.: Final Dividend Rs. 3.00; Ex Date: 23-Sep-2024
*Bangalore Fort Farms Ltd.: Final Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*Bhandari Hosiery Exports Ltd.: Final Dividend Rs. 0.01; Ex Date: 23-Sep-2024
*BMW Industries Ltd.: Final Dividend Rs. 0.21; Ex Date: 23-Sep-2024
*Caplin Point Laboratories Ltd.: Final Dividend Rs. 2.50; Ex Date: 23-Sep-2024
*CEIGALL: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Confidence Futuristic Energetech Ltd.: Final Dividend Rs. 0.38; Ex Date: 23-Sep-2024
*Cochin Shipyard Ltd.: Final Dividend Rs. 2.25; Ex Date: 23-Sep-2024
*Confidence Petroleum India Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Dev Information Technology Ltd.: Final Dividend Rs. 0.25; Ex Date: 23-Sep-2024
*Emerald Finance Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Fredun Pharmaceuticals Ltd.: Final Dividend Rs. 0.70; Ex Date: 23-Sep-2024
*Gallantt Ispat Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*GEM Enviro Management Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*Genus Power Infrastructures Ltd.: Final Dividend Rs. 0.60; Ex Date: 23-Sep-2024
*Grovy India Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Gujarat Apollo Industries Ltd.: Final Dividend Rs. 2.00; Ex Date: 23-Sep-2024
*HFCL Ltd.: Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*Him Teknoforge Ltd.: Final Dividend Rs. 0.40; Ex Date: 23-Sep-2024
*HPL Electric & Power Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Inani Marbles & Industries Ltd.: Final Dividend Rs. 0.04; Ex Date: 23-Sep-2024
*Intense Technologies Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Jindal Poly Films Ltd.: Final Dividend Rs. 5.50; Ex Date: 23-Sep-2024
*Jyot International Marketing Ltd.: Dividend Rs. 0.05; Ex Date: 23-Sep-2024
*Jyoti Resins & Adhesives Ltd.: Final Dividend Rs. 9.00; Ex Date: 23-Sep-2024
*Kemistar Corporation Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*KMS Medisurgi Ltd.: Final Dividend Rs. 0.05; Ex Date: 23-Sep-2024
*La Opala RG Ltd.: Dividend Rs. 10.00; Ex Date: 23-Sep-2024
*Om Infra Ltd.: Final Dividend Rs. 0.50; Ex Date: 23-Sep-2024
*One Global Service Provider Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Orient Ceratech Ltd.: Final Dividend Rs. 0.25; Ex Date: 23-Sep-2024
*Panchsheel Organics Ltd.: Final Dividend Rs. 0.80; Ex Date: 23-Sep-2024
*Panorama Studios International Ltd.: Final Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*PG Electroplast Ltd.: Final Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*Power & Instrumentation (Gujarat) Ltd.: Final Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*Pokarna Ltd.: Final Dividend Rs. 0.60; Ex Date: 23-Sep-2024
*Praveg Ltd.: Final Dividend Rs. 1.00; Ex Date: 23-Sep-2024
*Radhika Jeweltech Ltd.: Final Dividend Rs. 0.20; Ex Date: 23-Sep-2024
*Rashtriya Chemicals and Fertilizers Ltd.: Final Dividend Rs. 1.24; Ex Date: 23-Sep-2024
*RIR Power Electronics Ltd.: Final Dividend Rs. 2.00; Ex Date: 23-Sep-2024
*Rose Merc. Ltd.: Final Dividend Rs. 0.10; Ex Date: 23-Sep-2024
*Rail Vikas Nigam Ltd.: Final Dividend Rs. 2.11; Ex Date: 23-Sep-2024

Stocks Picker Articles

23 Sep 2024 04:30

*Mankind Pharma:* Company board approves fund raise worth Rs 100 billion via issue of non-convertible debentures and commercial papers (Neutral)

*GMR Airports:* Company has encumbered 66.07% of its promoter shareholding for a total of Rs. 75 crore from SKS Fincap Private Limited. (Neutral)

*Bharat Dynamics:* Company has appointed Shri D V Srinivas as Director on the Board, effective 20 September 2024. (Neutral)

*Reliance Industries:* Company has extended the deadline for payment of unpaid call money for holders of partly paid-up equity shares to October 7, 2024. (Neutral)

*Brainbees Solutions:* Company unit has made further investments of Rs 205 million in JW brands (Neutral)

*Godfrey Phillips:* Company needs RBI clarification on bonus issue to the non-resident shareholders (Neutral)

*SpiceJet:* Board greenlights 48.7 crore share QIP allotment at ₹61.60 per share (Neutral)

*RITES:* Company’s board allots bonus shares in the ratio of 1:1 (Neutral)

*Indian Bank:* Board to consider proposal for additional fund raising on September 26 (Neutral)

*Vodafone Idea:* Company has concluded a mega $3.6 billion (Rs 300 billion) deal with Nokia, Ericsson and Samsung (Neutral)

*Brainbees:* Invests Rs 5.9 cr in a step-down subsidiary for 22.5% stake (Neutral)

*Reliance Industries:* Company extends the deadline for paying call money on partly paid shares to October 7, 2024 (Neutral)

*Aarti Drugs:* Company has received 7 observations from the US FDA after an inspection of its API manufacturing facility. None of the observations were related to data integrity. (Negative)

Stocks Picker Articles

20 Sep 2024 05:42

Forthcoming Event

20th September: Godfrey Phillips India to consider Bonus issue; Satin Creditcare Network, Mankind Pharma, Paisalo Digital, Utkarsh Small Finance Bank to consider Fund Raising

23rd September: Pondy Oxides & Chemicals, Reliance Power, Servotech Power Systems, Ugro Capital to consider Fund Raising

24th September: Lexus Granito (India), Prudential Sugar Corporation, Vakrangee, Viceroy Hotels, Hariom Pipe Industries to consider Fund Raising

25th September: Sellwin Traders to consider Bonus issue & Stock Split

08th October: Julien Agro Infratech to consider Stock Split

Stocks Picker Articles

20 Sep 2024 05:42

Corporate Actions

Motisons Jewellers has approved sub-division/split of company’s 1 Equity Share having face value of Rs. 10/- each, into 10 Equity shares having face value of Re.1/- each, subject to the approval of shareholders and such other approvals as may be required. Board has fixed Saturday, November 09, 2024 as Record Date.

Dividend

20-Sep-24
GTPL: Final Dividend - Rs. - 4.00
TMB: Final Dividend - Rs. - 10.00
AMBIKCO: Final Dividend - Rs. - 35.00
ALPHAGEO: Final Dividend - Rs. - 8.00
CINDHO: Final Dividend - Rs. - 1.00
INTLCONV: Final Dividend - Rs. - 1.10
INCAP: Dividend - Rs. - 1.00
NATIONALUM: Final Dividend - Rs. - 2.00
VISHWARAJ: Final Dividend - Rs. - 0.20
ZENIFIB: Final Dividend - Rs. - 1.00
AUSOMENT: Final Dividend - Rs. - 1.00
CREATIVE: Final Dividend - Rs. - 10.00
TGVSL: Final Dividend - Rs. - 1.00
METROGLOBL: Final Dividend - Rs. - 2.00
EVANS: Final Dividend - Rs. - 3.00
RUPA: Dividend - Rs. - 3.00
PCCOSMA: Final Dividend - Rs. - 5.00
HARLETH: Dividend - Rs. - 1.00
MUKESHB: Final Dividend - Rs. - 1.20
APEX: Final Dividend - Rs. - 2.00
RITES: Final Dividend - Rs. - 5.00
VLSFINANCE: Final Dividend - Rs. - 2.50
HMAAGRO: Final Dividend - Rs. - 0.30
KALAMANDIR: Final Dividend - Rs. - 1.00
SHREEPUSHK: Final Dividend - Rs. - 1.50
MAITHANALL: Final Dividend - Rs. - 6.00
HINDTIN: Final Dividend - Rs. - 1.20
RICOAUTO: Final Dividend - Rs. - 0.60
63MOONS: Final Dividend - Rs. - 2.00
GRAUWEIL: Final Dividend - Rs. - 0.50
TIMETECHNO: Final Dividend - Rs. - 2.00
DHOOTIN: Dividend - Rs. - 1.50
DECCANCE: Final Dividend - Rs. - 3.00
TNPL: Final Dividend - Rs. - 1.00
COASTCORP: Final Dividend - Rs. - 1.20
LAHOTIOV: Final Dividend - Rs. - 0.20
TARSONS: Final Dividend - Rs. - 2.00
JAYUSH: Dividend - Rs. - 3.00
RADIXIND: Final Dividend - Rs. - 0.50
VIDLI: Final Dividend - Rs. - 0.30
MERCURYLAB: Final Dividend - Rs. - 3.50
HINDCOMPOS: Final Dividend - Rs. - 2.00
ROTO: Final Dividend - Rs. - 1.88
BRIGHTBR: Final Dividend - Rs. - 1.00
KITEX: Final Dividend - Rs. - 1.50
DDEVPLASTIK: Final Dividend - Rs. - 1.00
FILATEX: Final Dividend - Rs. - 0.20
EXHICON: Dividend - Rs. - 1.00
PILANIINVS: Dividend - Rs. - 15.00
ZUARIIND: Final Dividend - Rs. - 1.00
SWISSMLTRY: Final Dividend - Rs. - 0.10
ITL: Final Dividend - Rs. - 1.00
PRIMEFRESH: Dividend - Rs. - 0.50
NFL: Final Dividend - Rs. - 0.27
CORALAB: Final Dividend - Rs. - 2.00
DONEAR: Final Dividend - Rs. - 0.20
BEEKAY: Final Dividend - Rs. - 1.00
AURIONPRO: Final Dividend - Rs. - 2.50
KANCHI: Final Dividend - Rs. - 1.00
SURAJEST: Final Dividend - Rs. - 1.00
EMSLIMITED: Final Dividend - Rs. - 1.00
NSL: Final Dividend - Rs. - 0.25
DHABRIYA: Final Dividend - Rs. - 0.50
TEXINFRA: Dividend - Rs. - 0.15
BECTORFOOD: Final Dividend - Rs. - 2.00
PREMEXPLN: Final Dividend - Rs. - 0.50
POLYPLEX: Final Dividend - Rs. - 1.00
VISHNU: Final Dividend - Rs. - 0.30
GOPAL: Final Dividend - Rs. - 0.25
CIFL: Final Dividend - Rs. - 0.10
FLUOROCHEM: Final Dividend - Rs. - 3.00
RAJOOENG: Final Dividend - Rs. - 0.25
GROVY: Final Dividend - Rs. - 0.10
APOLLO: Final Dividend - Rs. - 0.05
NIBE: Final Dividend - Rs. - 1.00
AHLUCONT: Final Dividend - Rs. - 0.50
POWERMECH: Final Dividend - Rs. - 2.00

IPO
Manba Finance: 23-Sep-24; Close: 25-Sep-24
KRN Heat Exchanger and Refrigeration: 25-Sep-24; Close: 27-Sep-24

Buyback
Jai Corp: 13-Sep-24; Close: 20-Sep-24
Insecticides (India): 18-Sep-24; Close: 24-Sep-24

Bonus
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
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

20 Sep 2024 04:46

*Fund Houses Recommendations*


Macquarie on *JSW Steel:* Upgrade to Outperform on Company, raise target price at Rs 1077/Sh from Rs 884/Sh (Positive)

Macquarie on *Hindalco:* Maintain Outperform on Company, raise target price at Rs 760/Sh from Rs 597/Sh (Positive)

Macquarie on *Coal India:* Maintain Outperform on Company, raise target price at Rs 541/Sh from Rs 465/Sh (Positive)

Macquarie on *JSPL:* Maintain Outperform on Company, raise target price at Rs 1170/Sh from Rs 1070/Sh (Positive)

Macquarie on *Tata Steel:* Maintain Outperform on Company, raise target price at Rs 171/Sh from Rs 162/Sh (Positive)

BofA on *Reliance Ind:* Maintain Buy on Company, target price at Rs 3430/Sh (Positive)

BofA on *Bharti Airtel:* Maintain Buy on Company, target price at Rs 1700/Sh (Positive)

Investec on *Mankind:* Maintain Buy on Company, target price at Rs 3300/Sh (Positive)

Citi on *Vodafone Idea:* Maintain Buy on Company, target price at Rs 17.0/Sh (Positive)

Nomura on *Vodafone Idea:* Upgrade to Buy on Company, target price at Rs 15.0/Sh (Positive)

InCred on *IIFL Finance:* RBI has lifted the embargo on IIFL Finance for gold lending (Positive)

UBS on *Vodafone Idea:* Company’s fair value per share can range between Rs12 (no relief on AGR) to Rs24 (full relief / waiver of AGR) (Neutral)

Nuvama on *Vodafone Idea:* Maintain Hold on Company, target price at Rs 11.5/Sh (Neutral)

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

MS on *JSPL:* Maintain Equal weight on Company, raise target price at Rs 970/Sh (Neutral)

MS on *JSW Steel:* Maintain Equal weight on Company, raise target price at Rs 895/Sh (Neutral)

BofA on *Indus Tower:* Maintain Buy on Company, cut target price at Rs 450/Sh (Neutral)

GS on *Indus Tower:* Maintain Sell on Company, target price at Rs 350/Sh (Neutral)

BofA on *Zydus Life:* Maintain Neutral on Company, cut target price at Rs 1145/Sh (Neutral)

BofA on *Lupin:* Maintain Neutral on Company, cut target price at Rs 1560/Sh (Neutral)

CLSA on *Telecom Sector:* For Voda Idea, factor AGR risk at ₹7/sh (40% of stock fair value) & retain underperform. AGR risk is lower for Bharti Airtel, at ₹62/sh (3% of fair value) & retain outperform (Neutral)

MS on *Telecom Sector:* Lack of potential AGR relief is negative. Think *Bharti Airtel* Is In A Sweet Spot (Neutral)

MS on *SAIL:* Maintain Underweight on Company, cut target price at Rs 105/Sh (Negative)

GS on *Vodafone Idea:* Maintain Sell on Company, target price at Rs 2.5/Sh (Negative)

Investec on *Indigo:* Downgrade to Sell on Company, target price at Rs 4050/Sh (Negative)

Stocks Picker Articles

19 Sep 2024 05:27

*Forthcoming Event*

19th September: 360 One Wam, EMS Limited, Geojit Financial Services, Reliance Infrastructure, Transwarranty Finance, Bajaj Healthcare to consider Fund Raising; Motisons Jewellers consider Stock Split

20th September: Godfrey Phillips India to consider Bonus issue; Satin Creditcare Network, Mankind Pharma, Paisalo Digital, Utkarsh Small Finance Bank to consider Fund Raising

23rd September: Pondy Oxides & Chemicals, Reliance Power, Servotech Power Systems, Ugro Capital to consider Fund Raising

24th September: Lexus Granito (India), Prudential Sugar Corporation, Vakrangee to consider Fund Raising

25th September: Sellwin Traders to consider Bonus issue & Stock Split

08th October: Julien Agro Infratech to consider Stock Split

Stocks Picker Articles

19 Sep 2024 04:51

Stock in Action

PNB Housing Finance: PNB Housing Finance reported NIM in 1QFY25 was stable at 3.65%. Yields and Cost of Funds declined ~5bp each QoQ, leading to stable spreads of ~2.1%. During 1QFY25, total GNPA/NNPA stood at ~1.35%/0.92% (% of loan assets) and improved ~15bp/3bp QoQ. Retail GNPA improved ~5bp QoQ to 1.4%, while corporate GNPA was NIL. PNB Housing Finance resolved one NPA and one written-off account in its corporate book in 1Q, recovering around Rs 80.0 crore from the written-off pool. The emerging and affordable segments contributed ~33% of the retail disbursements in 1QFY25. The management guided that ~40-42% of the incremental disbursements in FY25 will come from these two segments. Management expects to benefit from better loan growth, the expansion of spreads/margin, and the introduction of the PMAY CLSS scheme announced in the Union Budget. During the quarter, 1QFY25 total disbursements grew 19% YoY to Rs 4390 crore. Retail disbursement also grew ~19% YoY to Rs 4360 crore. The affordable and emerging segments contributed ~33% to the retail disbursements. Positive on PNB Housing Finance given the stable 1QFY25 performance.

Power Grid: In the light of the increasing capex and new project inflows, Power Grid has raised its capex guidance to Rs 18,000 crore and expects to incur a similar capex in FY26. This is much higher, compared to the FY24 capex of Rs 12,500 crore. Moreover, the pipeline of projects is strong. The company is sitting on projects worth Rs 1.14 lakh crore. Orders to the tune of close to Rs 70,000-80,000 crore are expected to be executed in the next 24-30 months, supporting good revenue and earnings visibility. In the recent bids for tariff-based projects, the company recorded a share of close to 65%. It is expected that, in the forthcoming bids, it will continue to have a higher share and thus grab more projects. The company has indicated that projects worth close to Rs 1.36 lakh crore would be awarded for inter-state transmission and another Rs 37,000 crore order would come for intra-state transmission lines. That apart, cross-border transmission and international projects provide strong visibility till 2030. Positive on Power Grid given the growing opportunities in the T&D segment, higher winning ratio, and expected improvement in execution.

Stocks Picker Articles

19 Sep 2024 04:50

*Stocks in News*


*NTPC:* NTPC Green Energy files draft papers for Rs 10,000 crore IPO (Positive)

*Aurobindo Pharma:* Company in pact to buy remaining 49% stake in GLS Pharma at Rs 381.12 per share (Positive)

*Pudumjee Paper:* Company has awarded Contract for 15.4 MW Solar Power Project to Prozeal Green Energy Limited. (Positive)

*B.L.Kashyap:* Company has secured new order aggregating to Rs. 221 Crores approx. (Positive)

*Nazara Tech:* Company to issue Rs 900 cr of shares to identified investors. (Positive)

*Ion Exchange:* Company gets Rs 161 crore order from Adani Power for water and environment management solution (Positive)

*NDR Auto Components:* Company has received in-principle approval from BSE and NSE for issuing bonus shares in a 1:1 ratio. (Positive)

*Power Grid:* India explores multi-source use of electricity grids to enhance renewable energy capacity. Company declared as successful bidder to establish inter-state transmission system. (Positive)

*Reliance Infra/ Reliance Power:* Anil Ambani's Reliance Infrastructure and Reliance Power slash debt by a cumulative ₹7,220 crore (Positive)

*AB Capital:* RBI approves Aditya Birla Capital’s amalgamation of Aditya Birla Finance (Positive)

*Praveg:* Company has received a Letter of Award from Tourism Corporation of Gujarat Limited for O&M of 30 Bhungas located at Dhordo, Gujarat (Positive)

*Liquor stocks:* Andhra Pradesh approves new liquor policy, all liquor brands to be made available. (Positive)

*SpiceJet:* Company's QIP attracts investment from family offices of Madhu Kela, Akash Bhanshali, Sanjay Dangi, and Rohit Kothari. (Positive)

*Lupin:* Company enters into non-exclusive patent license agreement with Takeda pharmaceutical company. (Positive)

*GILETTE:* Structural margins have improved in FY24 driven by cost productivity and product innovation (Positive)

*Apollo Micro:* Company said it has been shortlisted by the Armament Research and Development Establishment related to the production of PRACHAND munition hardware (Positive)

*Avenue Supermarts:* Company has opened a new store at Narasaraopet, Palnadu, total number of stores as on date stands at 377. (Positive)

*Chaman Metallics:* Company says commencement of pellet plant of group Company, commencement to benefit company's operations, in production of sponge iron. (Positive)

*Garden Reach Shipbuilders:* Company gets order for construction, delivery of additional 4 vessels worth $ 54 million. (Positive)

*BPCL:* Company issues clarification on report “CPCB notice to BPCL for failing to install vapour recovery systems”, Company has installed VRS at ROS within prescribed timelines (Positive)

*Aavas financiers:* Company to issue non-convertible debentures for upto Rs 6.30 billion (Neutral)

*IREDA:* DIPAM allows dilution of up to 7% government holding in IREDA via QIP (Neutral)

*Allcargo Logistics:* August LCL Volume Up 1% MoM & Up 5% YoY (Neutral)

*Dish TV:* Company appoints Amit Kumar Verma as Chief Financial Officer (CFO) of the company (Neutral)

*Nippon Life:* Company appoints Parag Joglekar as Chief Financial Officer (CFO) of the company (Neutral)

*MTNL:* Company’s account gets downgraded to an NPA by PNB. (Neutral)

*Macrotech:* Company will acquire additional stakes in three Maharashtra-based digital infrastructure firms for Rs 240 crore. (Neutral)

*SBI:* Bank bags Rs 7,500 crore through its second tranche of tier-II bonds at a coupon of 7.33%. (Neutral)

*Ge T&D India:* promoters to sell up to 15.6% stake via OFS on September 19 and 20. (Negative)

Stocks Picker Articles

18 Sep 2024 05:27

Corporate Actions

Dividend

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: 19-Sep-24
Arkade Developers: 16-Sep-24; Close: 19-Sep-24
Northern Arc Capital: 16-Sep-24; Close: 19-Sep-24

Buyback
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

Right Issue
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

18 Sep 2024 04:49

*Fund Houses Recommendations*


Macquarie on *Carborundum:* Maintain Buy on Company, raise target price at Rs 1650/Sh (Positive)

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

Jefferies on *L&T:* Maintain Buy on Company, target price at Rs 4165/Sh (Positive)

Jefferies on *Adani Ports:* Maintain Buy on Company, target price at Rs 1910/Sh (Positive)

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

Kotak on *Emcure Pharma:* Emcure is one of the few Indian pharma majors with no direct US generics exposure (Positive)

JPMorgan on *Insurance:* The distribution landscape in the life industry is now diversifying, Prefer SBI Life, ICICI Pru and NIACL (Positive)

Morgan Stanley's emerging market strategy: Maintain overweight on India (Positive)

Morgan Stanley on *IT Sector:* Sense skepticism among investors around stock positioning and stretched valuations (Neutral)

Citi on *LTIM:* Maintain Sell on Company, target price at Rs 5635/Sh (Neutral)

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

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

Stocks Picker Articles

17 Sep 2024 05:29

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

17 Sep 2024 05:29

*Forthcoming Event*

17th September: Ashika Credit Capital, AYM Syntex, Jonjua Overseas, Sonalis Consumer Products to consider Fund Raising

18th September: JWL to consider Dividend; Aavas Financiers, Nazara Technologies, SBI Cards and Payment Services, Tirupati Forge to consider Fund Raising

19th September: 360 One Wam, EMS Limited, Geojit Financial Services, Reliance Infrastructure, Transwarranty Finance to consider Fund Raising; Motisons Jewellers consider Stock Split

20th September: Godfrey Phillips India to consider Bonus issue

24th September: Lexus Granito (India), Prudential Sugar Corporation to consider Fund Raising

25th September: Sellwin Traders to consider Bonus issue & Stock Split

08th October: Julien Agro Infratech to consider Stock Split

Stocks Picker Articles

17 Sep 2024 04:45

*Fund Houses Recommendations*


UBS on *IGL:* Upgrade to Buy on Company, raise target price at Rs 700/Sh (Positive)

UBS on *MGL:* Maintain Buy on Company, raise target price at Rs 2400/Sh (Positive)

Inestec on *Adani Green:* Initiate Buy on Company, target price at Rs 2515/Sh (Positive)

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

Philip Capital on *Bajaj Housing:* Maintain Buy on Company, target price at Rs 210/Sh (Positive)

Emkay on *Emami:* Maintain Buy on Company, target price at Rs 950/Sh (Positive)

GS on *OLA:* Initiate Buy on Company, target price at Rs 160/Sh (Positive)

BofA on *OLA:* Initiate Buy on Company, target price at Rs 145/Sh (Positive)

CLSA on *Financials:* Met over 25 investors during our Asia marketing trip over the past two weeks (Neutral)

Morgan Stanley on *IT Sector:* Sense skepticism among investors around stock positioning and stretched valuations (Neutral)

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

Citi on *Coforge:* Maintain Sell on Company, target price at Rs 5885/Sh (Neutral)

UBS on *AU Bank:* Initiate Neutral on Company, target price at Rs 770/Sh (Neutral)

Stocks Picker Articles

16 Sep 2024 05:27

Forthcoming Event

16th September: Antarctica, Evexia Lifecare, Galaxy Agrico Exports, Rajkamal Synthetics, RDB Realty & Infrastructure, Sandur Manganese & Iron Ores, Supreme Infrastructure India, Wardwizard Healthcare to consider Fund Raising; Hazoor Multi Projects to consider Amalgamation

17th September: Ashika Credit Capital, AYM Syntex, Jonjua Overseas, Sonalis Consumer Products to consider Fund Raising

18th September: JWL to consider Dividend; Aavas Financiers, Nazara Technologies, SBI Cards and Payment Services, Tirupati Forge to consider Fund Raising

19th September: 360 One Wam to consider Fund Raising

20th September: Godfrey Phillips India to consider Bonus issue

24th September: Lexus Granito (India) to consider Fund Raising

25th September: Sellwin Traders to consider Bonus issue & Stock Split

08th October: Julien Agro Infratech to consider Stock Split