Stocks Picker Articles

30 Sep 2024 04:40

Bulk Deal & Insider Trade Update

*Bulk Deals*
*Shivalik Bimetal Con. Ltd: Sbi Mutual Fund Buy 3110467 Shares @ Rs. 610.6
*Strlng & Wil Ren Ene Ltd: Morgan Stanley Asia Singapore Pte Buy 2025000 Shares @ Rs. 623
*Strlng & Wil Ren Ene Ltd: Societe Generale Buy 2010000 Shares @ Rs. 623
*Shivalik Bimetal Con. Ltd: Franklin Templeton Mutual Fund Buy 1770912 Shares @ Rs. 610.6
*Shivalik Bimetal Con. Ltd: Uti Mutual Fund Buy 1014465 Shares @ Rs. 610.6
*Shivalik Bimetal Con. Ltd: Aditya Birla Sun Life Mutual Fund Buy 1000000 Shares @ Rs. 610.6
*Shivalik Bimetal Con. Ltd: Dsp Mutual Fund Buy 900800 Shares @ Rs. 610.6
*Sequent Scientific Ltd.: Ascent India Fund Iii Sell 2284763 Shares @ Rs. 195.73
*Shivalik Bimetal Con. Ltd: Sundaram Mutual Fund Buy 658069 Shares @ Rs. 610.6
*Dynamatic Tech. Ltd.: Motilal Oswal Mutual Fund Buy 48000 Shares @ Rs. 8043.3
*Shivalik Bimetal Con. Ltd: Hsbc Mutual Fund Buy 573207 Shares @ Rs. 610.6
*Radiant Cash Mgmt Ser Ltd: Ascent India Fund Iii Sell 985000 Shares @ Rs. 78.61
*Orient Technologies Ltd: Pine Oak Global Fund Sell 261768 Shares @ Rs. 274.78
*Vishwaraj Sugar Ind Ltd: Neomile Growth Fund - Series I Sell 2838795 Shares @ Rs. 20.29
*Dev Info Technology Ltd: Saint Capital Fund Buy 250000 Shares @ Rs. 151.44
*Osel Devices Limited: Acintyo Investment Fund Pcc- Cell 1 Buy 180000 Shares @ Rs. 196.06
*S D Retail Limited: India Max Investment Fund Ltd Buy 203000 Shares @ Rs. 145
*S D Retail Limited: Finavenue Growth Fund Buy 137000 Shares @ Rs. 145
*Divine Power Energy Ltd: M7 Global Fund Pcc-Nolana Sell 126000 Shares @ Rs. 74.6
*Aditya Ultra Steel Ltd: Steptrade Revolution Fund Sell 156000 Shares @ Rs. 59.33
*Nuvama: Smallcap World Fund Inc Buy 1175666 Shares @ Rs. 6702.6
*Nuvama: Morgan Stanley Asia Singapore Pte Buy 342129 Shares @ Rs. 6702.6
*Nuvama: Goldman Sachs Funds - Goldman Sachs India Equity Portfolio Buy 324539 Shares @ Rs. 6702.6
*Entero: Stichting Depositary Apg Emerging Markets Equity Pool Buy 927203 Shares @ Rs. 1305

Insider Trade
Acquisition
* Bombay Dyeing & Mfg.Co.Ltd.: BAYMANCO INVESTMENTS LIMITED, Promoter, Acquisition 15000 shares on 27-Sep-24
* Mysore Petro Chemicals Ltd.-$: UMANG DHANUKA, Promoter Group, Acquisition 60000 shares on 26-Sep-24
* Nrb Bearings Ltd.: Promoter Group, Acquisition 72744 shares
* Kalyan Jewellers India Ltd: Promoter, Acquisition 37697040 shares

Disposal
* Bombay Dyeing & Mfg.Co.Ltd.: Jer Mavis Settlement No.II, Promoter Group, Disposal 15000 shares on 25-Sep-24
* Mysore Petro Chemicals Ltd.-$: MADAN MOHAN DHANUKA, Promoter & Director, Disposal 60000 shares on 26-Sep-24
* Info Edge (India) Ltd.: Kapil Kapoor, Director, Disposal 19297 shares on 27-Sep-24
* Kalyan Jewellers India Ltd: TK Radhika, Promoter Group, Disposal 13397974 shares on 26-Sep-24

*Pledge*
* Chalet Hotels Ltd: Touchstone Properties and Hotels Private Limited, Promoter, Pledge 14400000 shares on 25-Sep-24
* Sterling And Wilson Renewable Energy Ltd: Promoter Group, Pledge 16500000 shares
* Kalyan Jewellers India Ltd: Promoter & Director, Pledge 119109182 shares

*Revoke*
* Ansal Properties & Infrastructure Ltd.: Promoter Group, Revoke 6649700 shares
* Krishna Institute Of Medical Sciences Ltd: Bhaskara Rao Bollineni, Promoter & Director, Revoke 670000 shares on 24-Sep-24

*Dividend Update*
*ADS Diagnostic Ltd.: Final Dividend Rs. 1.20; Ex Date: 30-Sep-2024

Stocks Picker Articles

30 Sep 2024 04:24

*Adani Enterprises:* Arm’s JV unit April Moon retail buys 74% stake in Cococart ventures for ₹200 cr. (Neutral)

*Pidilite Industries:* Company unit Pidilite ventures invests Rs 50 million in Wify, a leading home improvement and maintenance platform. (Neutral)

*D B Realty Limited:* Company announces the appointment of Mr. Rajeev RA as an Independent Director effective September 27, 2024. (Neutral)

*Capacite Infraprojects:* Company has appointed Mr. RK Jain as Director- Operation & CEO, effective October 1, 2024. (Neutral)

*Gandhar Oil:* USFDA inspected manufacturing facility located at taloja, Company received 2 observations in form 483. (Neutral)

*ICICI Lombard:* Company gets income tax demand of Rs 1,388 crore for April 2021 to March 2022 period (Neutral)

*ICICI Prudential Life:* Company receives income tax order worth Rs 361 crore, including interest from authorities in Mumbai. (Neutral)

*IndusInd Bank:* Company approves the reappointment of Sumant Kathpalia as MD and CEO. (Neutral)

*OLA:* Bhavish Aggarwal announces Ola Electric’s Hyper Service for customers amid mounting after-sales and services complaints. (Neutral)

*SpiceJet:* Company plans to expand its fleet from 25 to 100 aircraft by the end of 2026, says CMD Ajay Singh. (Neutral)

*Biocon:* US FDA issues 4 observations to co’s Bengaluru facility (Neutral)

*Bharat Agri:* Company reports completion of Plinth work for Majiwada Project (Neutral)

*Eicher Motors:* Company to recall a batch of Royal Enfield (Neutral)

*Craftsman:* Company has invested EUR 13,500,000 in German Holdco towards subscription of equity shares of the German Holdco (Neutral)

*Reliance* -Disney merger: I&B Ministry's nod to RIL for transfer of channels (Neutral)

Stocks Picker Articles

27 Sep 2024 15:26

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Stocks Picker Articles

27 Sep 2024 05:25

Bulk Deal & Insider Trade Update

*Bulk Deals*
*Five-Star Bus Fin Ltd: Tpg Asia Vii Sf Pte Ltd Sell 7074385 Shares @ Rs. 800.5
*Five-Star Bus Fin Ltd: Peak Xv Partners Investments V Sell 6493538 Shares @ Rs. 800.5
*Five-Star Bus Fin Ltd: Fidelity Funds - Emerging Markets Focus Fund Buy 1504810 Shares @ Rs. 800.5
*Granules India Limited: Sixteenth Street Asian Gems Fund Sell 1400000 Shares @ Rs. 547.14
*Mos Utility Limited: Saint Capital Fund Buy 1540000 Shares @ Rs. 370
*Amrutajan Health Ltd: Icici Prudential Mutual Fund Buy 650000 Shares @ Rs. 760
*Mos Utility Limited: Bridge India Fund Buy 549600 Shares @ Rs. 370
*Zee News Limited: North Star Opportunities Fund Vcc-Bull Value Incorporated Vcc Sub-Fund Buy 4345000 Shares @ Rs. 18.62
*Aeron Composite Limited: Finavenue Growth Fund Sell 102000 Shares @ Rs. 153.12
*Fivestar: Tpg Asia Vii Sf Pte Ltd Sell 20058282 Shares @ Rs. 800.5
*Fivestar: Norwest Venture Partners X Mauritius Sell 8046668 Shares @ Rs. 800.5
*Fivestar: Nomura India Investment Fund Mother Fund Buy 7305804 Shares @ Rs. 800.5
*Fivestar: Peak Xv Partners Growth Investments Iii Sell 5876345 Shares @ Rs. 801.41
*Fivestar: Sequoia Capital Global Growth Fund Iii - Endurance Partners,L.P. Sell 5413284 Shares @ Rs. 801.42
*Gulfoillub: Gulf Oil International Mauritius Inc Sell 2065494 Shares @ Rs. 1352.06
*Fivestar: Peak Xv Partners Investments V Sell 3247399 Shares @ Rs. 808.05
*Fivestar: Eastspring Investments India Equity Open Limited Buy 2487728 Shares @ Rs. 800.5
*Fivestar: Nomura Funds Ireland Plc Nomura Funds Ireland India Equity Fund Buy 2087372 Shares @ Rs. 800.5
*Fivestar: Max New York Life Insurance Co Ltd Buy 1752141 Shares @ Rs. 800.5
*Fivestar: Max Life Insurance Company Limited Buy 1683257 Shares @ Rs. 800.5
*Gulfoillub: Aditya Birla Sun Life Insurance Company Limited Buy 925000 Shares @ Rs. 1351
*Gulfoillub: Iti Mutual Fund Buy 296000 Shares @ Rs. 1351
*Cressan: Ag Dynamic Funds Limited Buy 2200000 Shares @ Rs. 13.15
*Threempape: Next Orbit Growth Fund Iii Sell 120000 Shares @ Rs. 61
*Darjeeling: Meru Investment Fund Pcc-Cell 1 Buy 100000 Shares @ Rs. 12.58

Insider Trade
Acquisition
* Pidilite Industries Ltd.: Promoter Group, Acquisition 950000 shares
* Garnet International Ltd.: Kartik Gaggar, Promoter Group, Acquisition 700 shares on 26-Sep-24
* V.S.T.Tillers Tractors Ltd.-$: SITA RAJGOPAL, Promoter, Acquisition 10000 shares on 24-Sep-24
* Gensol Engineering Ltd: Anmol Singh Jaggi, Promoter & Director, Acquisition 12000 shares on 26-Sep-24

Disposal
* Pidilite Industries Ltd.: Promoter Group, Disposal 950995 shares
* Vipul Ltd.: Promoter, Disposal 4695622 shares
* V.S.T.Tillers Tractors Ltd.-$: ARUN V SURENDRA, Promoter & Director, Disposal 10000 shares on 24-Sep-24

*Dividend Update*
*West Leisure Resorts Ltd.: Final Dividend Rs. 0.10; Ex Date: 27-Sep-2024

Stocks Picker Articles

27 Sep 2024 04:44

*KNR Constructions:* Company Board Meeting on 26th September 2024 appointed Shri W R Reddy as Chairman, effective 1st October 2024. (Neutral)

*Indian Bank:* Bank’s Board approved raising an additional Rs.5000 crore in Long Term Infrastructure Bonds, bringing the total to Rs.10,000 crore for FY 2024-25. (Neutral)

*Escorts Kubota:* Escorts Kubota finance limited, a wholly-owned subsidiary of Company, has received a certificate of registration from the RBI to operate as a non-banking financial institution. (Neutral)

*IndiGo:* Company appoints Isidro Porqueras as COO, effective November 1, 2024 (Neutral)

*Torrent Pharma:* Company refutes claims of Shelcal 500 allegedly failing CDSCO quality test (Neutral)

*LIC:* S Sunder Krishnan resigns as Chief Risk Officer of Life Insurance Corporation of India. (Neutral)

*Uno Minda:* Company acquired 49% stake of Minda Nabtesco automotive from Nabtesco automotive corporation for Rs 13 million (Neutral)

*ADF Foods:* Company approved acquisition of remaining 30% stake from minority members of vibrant foods, entity being acquired belongs to food sector (Neutral)

*HDFC Bank:* Sells a housing loan portfolio of about $717 million to reduce credit book. (Neutral)

*KEC International:* Company raises Rs 870 crore through a qualified institutional placement offer. (Neutral)

*PNB:* Bank closes QIP, sets floor price at Rs 103.75/share. (Neutral)

*Godrej Properties:* Company' board will meet on October 1 to consider a proposal to raise funds through the issue of securities (Neutral)

*AB Capital:* Company invests Rs 500 crore in AB Finance via rights subscription (Neutral)

*Tyre Stocks:* CRISIL report: Rising natural rubber prices to hit tyre maker margins, supply deficit may triple. (Negative)

Stocks Picker Articles

26 Sep 2024 05:26

*Corporate Actions*

ASK Automotive Promoter Kuldip Singh Rathee will be selling a 6.05% stake in ASK via an offer for sale (OFS) on September 26-27. The sale comprises a base issue size of 5.5% and a greenshoe option of 0.55%. The OFS will open for non-retail investors on September 26 and for retail investors on September 27. The floor price has been set at Rs. 433 per share.

Vedanta will meet on October 8 to consider a fourth interim dividend on equity shares for FY25. The record date for determining shareholder entitlement for the dividend has been set as October 16.

Sellwin Traders has approved sub-division of 1 Equity share of face value of Rs.10/- each to 5 Equity shares of the face value of Rs.2/- each. The Board has approved the issue of Bonus shares at the ratio 1:8, 1 new Equity Share of Rs.2/- each for every 8 existing Equity Share of Rs.2/- each subject to approval of shareholders and regulatory authorities.

*Dividend*

*27-Sep-24*
UVDRHOR: Final Dividend - Rs. - 0.50
WESTLEIRES: Final Dividend - Rs. - 0.10

*IPO*
KRN Heat Exchanger and Refrigeration: 25-Sep-24; Close: 27-Sep-24
Diffusion Engineers: 26-Sep-24; Close: 30-Sep-24

*Buyback*
---

*Bonus*
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*
Sanghvi Movers: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 27-Sep-24
Real Eco-Energy: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 04-Oct-24
Rajnish Retail: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 11-Oct-24

*Right Issue*
Purple Finance: Ex-Date: 26-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
Sadhana Nitrochem: Open: 20-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
Sahana System: Open: 11-Oct-24; Close: 25-Oct-24

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

Stocks Picker Articles

26 Sep 2024 04:50

*Fund Houses Recommendations*


HSBC on *Alembic Pharma:* Upgrade to Hold on Company, raise target price at Rs 1130/Sh (Positive)

Citi on *Trent:* Initiate Buy on Company, target price at Rs 9250/Sh (Positive)

Citi on *Ultratech:* Maintain Buy on Company, target price at Rs 13000/Sh (Positive)

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

Nomura on *Crompton:* Maintain Buy on Company, target price at Rs 498/Sh (Positive)

MOSL on *GAIL:* Maintain Buy on Company, target price at Rs 275/Sh (Positive)

MOSL on *HPCL:* Maintain Buy on Company, target price at Rs 400/Sh (Positive)

MOSL on *Oil India:* Maintain Buy on Company, target price at Rs 740/Sh (Positive)

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

Macquarie on *HDFC Bank:* Maintain Outperform on Bank, target price at Rs 1900/Sh. (Positive)

Bernstein on *PB Fintech:* Maintain Outperform on Company, target price at Rs 1720/Sh (Positive)

HSBC on *Tech Mahindra:* Maintain Hold on Company, target price at Rs 1300/Sh (Neutral)

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

MS on *Crompton:* Maintain Equal weight on Company, target price at Rs 323/Sh (Neutral)

Stocks Picker Articles

26 Sep 2024 04:23

*HDFC Bank:* BNP Paribas sells 3.07 m shares of the bank at ₹1,768.05/sh. UBS Capital buys 3.07 m shares of the bank at ₹1,768.05/sh (Neutral)

*ASK Auto:* Kuldip Singh Rathee, one of the promoters of the company, to sell 6.05% stake in ASK Automotive via OFS. (Neutral)

*SpiceJet:* Ireland-based aircraft lessor Carlyle Aviation Management has sold its 1.42% stake in the airline company. (Neutral)

*Zaggle:* Company approves acquisition of 98.32% stake in SpanAcross. (Neutral)

Stocks Picker Articles

25 Sep 2024 05:41

Forthcoming Event

25th September: Sellwin Traders to consider Bonus issue & Stock Split; Yogi, Hilton Metal Forging to consider Fund Raising

26th September: Indian Bank, Pavna Industries, Thangamayil Jewellery, Univastu India to consider Fund Raising

27th September: JHS Svendgaard Retail, Zee Media Corporation to consider Fund Raising

28th September: Antarctica to consider Fund Raising

30th September: Piccadily Agro Industries to consider Fund Raising; PC Jeweller to consider Stock Split

04th October: RDB Realty & Infrastructure to consider Fund Raising

08th October: Julien Agro Infratech to consider Stock Split

14th October: Exxaro Tiles to consider Stock Split

Stocks Picker Articles

25 Sep 2024 05:02

Bulk Deal & Insider Trade Update

*Bulk Deals*
*Balu Forge Industries Ltd: Ebene Global Opportunity Fund Sell 530000 Shares @ Rs. 803.36
*Cartrade Tech Limited: Mirae Asset Mutual Fund Buy 3022000 Shares @ Rs. 920
*Maxposure Limited: Augmenta Value Trust - Scheme 1 Buy 250000 Shares @ Rs. 122.53
*Pelatro Limited: Zeta Global Funds (Oeic) Pcc Limited - Zeta Series B Fund Pc Sell 73800 Shares @ Rs. 279.47
*Spicejet: Authum Investment & Infrastructure Limited Sell 5630675 Shares @ Rs. 66.21
*Spicejet: Altitude Investment Fund Pcc - Cell 1 Buy 5000000 Shares @ Rs. 65.95
*Meapl: Resonance Opportunities Fund Sell 53786 Shares @ Rs. 73.78

Insider Trade
Acquisition
* Som Distilleries & Breweries Ltd.: SATPAL KUMAR ARORA, Director, Acquisition 1500 shares on 23-Sep-24
* Mazda Ltd.-$: SHANAYA MODY KHATUA, Promoter & Director, Acquisition 4000 shares on 24-Sep-24
* Nrb Bearings Ltd.: Harshbeena Zaveri, Promoter & Director, Acquisition 62678 shares

Disposal
* Pidilite Industries Ltd.: Neerav Parekh, Promoter Group, Disposal 74980 shares
* Info Edge (India) Ltd.: Kapil Kapoor, Director, Disposal 5491 shares on 23-Sep-24
* Nrb Industrial Bearings Ltd.: Anjana Milind Thakker, Promoter, Disposal 20000 shares on 23-Sep-24
* Star Cement Ltd: Suchita Agarwal, Promoter Group, Disposal 10000 shares on 18-Sep-24
* Gujarat Fluorochemicals Ltd: Shailendra Swarup, Director, Disposal 4000 shares on 17-Sep-24

*Dividend Update*
*Adtech Systems Ltd.: Dividend Rs. 1.00; Ex Date: 25-Sep-2024
*Bajaj Holdings & Investment Ltd.: Interim Dividend Rs. 65.00; Ex Date: 25-Sep-2024
*Maharashtra Scooters Ltd.: Interim Dividend Rs. 110.00; Ex Date: 25-Sep-2024

Stocks Picker Articles

25 Sep 2024 04:54

Stock in Action

Muthoot Finance: Muthoot Finance has continued to shine in tandem with the surge in gold prices as gold loan growth remains firm. While this may prompt the company to revise its full-year growth guidance in the coming earnings release, competition that was a little benign may rear its head with a key player back in action. Muthoot Finance saw an 18% growth in gold loan assets under management in FY24 after two consecutive tepid years. Despite the industry-wide capping of gold loan disbursement in cash to Rs 20,000, the impact was limited as Muthoot saw a sequential surge of over 5 percent in gold loan assets in Q4FY24 followed by 11% in Q1 of FY25. The overall consolidated assets of the group grew 28% YoY in Q1 FY25, driven by over 59% growth in the non-gold book, thanks to the surge in Home Finance, Belstar Micro Finance, and vehicle finance. The gold loan business for Muthoot has been gaining in strength since Q4 of FY24. The firmness in gold prices has helped customers to borrow more by pledging the same quantum of gold. Moreover, the demand for gold loans has also increased following the RBI’s diktat on unsecured loans, thereby increasing costs and reducing availability. A few data points seem to suggest an improving market share for Muthoot — with a sequential improvement in gold tonnage as well as customers. Muthoot’s management is pressing the pedal on diversification. Positive on Muthoot Finance given the traction in the gold loan segment.

Eureka Forbes Ltd.: Eureka Forbes were the pioneers for introducing water purifier and vacuum cleaner in India. Eureka Forbes has a long history of launching innovative products and campaigns in India. Company holds a a commanding ~60% market share in vacuum cleaner in India. Company is pioneer in the Indian water purifier market with its flagship product Aquaguard and hold a strong ~45% market share. The trend of urbanization has heightened the demand for convenient cleaning solutions, making vacuum cleaners a popular choice for urban households. The expansion of water purifier market is further boosted by Government of India's Jal Jeevan Mission, which has provided 113 million additional households with access to tap water since 2019. Company is focusing on innovative variety of vacuum cleaners, e.g., robotic vacuum cleaners, zero bend cleaners, etc. offered. Over the period, company has established widespread network with strong retail presence over 20,000 outlets and distribution network in more than 19,000 pin codes. Positive on Eureka Forbes given the impressive fundamentals of the company.

Stocks Picker Articles

24 Sep 2024 05:32

*Corporate Actions*

Western Carriers India is set to make stock market debut today, September 24. The issue price is fixed at Rs. 172 per share.

Arkade Developers is set to make stock market debut today, September 24. The issue price is fixed at Rs. 128 per share.

Northern Arc Capital is set to make stock market debut today, September 24. The issue price is fixed at Rs. 263 per share.

Cropster Agro has approved sub-division of 1 Equity share of face value of ₹10/- each to 10 Equity shares of the face value of ₹ 1 each. Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of ₹ 1/- each for every 1 Equity Share of ₹ 1/- each held.

Quasar India has approved sub-Division of 1 Equity Share of face value of Rs. 10/- each into 10 Equity Shares of Rs. 1/- each, subject to the approval of the Members in the ensuing Extra Ordinary General Meeting.

*Dividend*

*24-Sep-24*
BHATIA: Final Dividend - Rs. - 0.01

*25-Sep-24*
ADTECH: Dividend - Rs. - 1.00
MAHSCOOTER: Interim Dividend - Rs. - 110.00
BAJAJHLDNG: Interim Dividend - Rs. - 65.00

*27-Sep-24*
UVDRHOR: Final Dividend - Rs. - 0.50
WESTLEIRES: Final Dividend - Rs. - 0.10

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

*Buyback*
Insecticides (India): 18-Sep-24; Close: 24-Sep-24

*Bonus*
NDR Auto Components: Bonus Issue 1:1; Ex-Date: 25-Sep-24
Starlineps Enterprises: Bonus Issue 1:5; Ex-Date: 25-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*
Swastika Investmart: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 25-Sep-24
Starlineps Enterprises: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 25-Sep-24
Sanghvi Movers: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 27-Sep-24
Real Eco-Energy: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 04-Oct-24
Rajnish Retail: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 11-Oct-24

*Right Issue*
Purple Finance: Ex-Date: 26-Sep-24
Sru Steels: Open: 09-Sep-24; Close: 24-Sep-24
Ganesha Ecoverse: Open: 20-Sep-24; Close: 24-Sep-24
Ducon Infratechnologies: Open: 12-Sep-24; Close: 24-Sep-24
Modern Engineering and Projects: Open: 05-Sep-24; Close: 25-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
Sadhana Nitrochem: Open: 20-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
Sahana System: Open: 11-Oct-24; Close: 25-Oct-24

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

*Amalgamation*
Ador Fontech: Ex-Date: 25-Sep-24

Stocks Picker Articles

24 Sep 2024 04:47

Stock in Action

Elecon Engineering Company Ltd.: Elecon Engineering company 1QFY25 numbers came in line with the consensus estimates despite of tepid demand amid general election in the month of April and May. There were lot of positives to take away from the result which possibly could be indicators of long term growth to unfold in Elecon. Revenue from exports touched Rs 133.0 crore during 1QFY25, almost 18% up on a YoY basis & comprises almost 34% of Elecon’s topline & 40% of their Gear segment’s topline this quarter. Additionally, their MHE division saw a whopping growth of 192% on a YoY basis in order inflows this quarter of Rs 149.0 crore v/s 51.0 crore in Q1FY24. Now that the election period is over, management anticipates a strong demand uptick in the coming quarters. The management remains confident of achieving their FY25 revenue guidance of Rs 2,225 crore (+15% growth YoY) & EBITDA margins of 24% in FY25. The company expects Q2 & Q4 to be its best quarters. The company expects order inflow to revive in the gears segment mainly from cement, steel, power & sugar sectors. The company also anticipates some large marine segment orders from FY26 onwards. Positive on Elecon Engineering company as the management anticipates a strong demand uptick in the coming quarters.

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

24 Sep 2024 04:16

*Stocks in News*


*G R Infraprojects:* Company emerged as lowest bidder for project with bid value Rs 9.04 billion (Positive)

*Power Grid:* Company has been announced as the successful bidder for project, which involves providing dynamic reactive compensation at khavda pooling station 1 and khavda pooling station 3. (Positive)

*Navkar Corporation:* Company has received no objection from the Ministry of Railways for the change of control of its promoters to JSW Port Logistics Private Limited. (Positive)

*PCBL:* Company Plans To Acquire 100% Of Enersil’s Shareholding for an Amount Equivalent to AUD 2,000,100, Acquisition Aims to Enhance PCBL’S Product Offerings in a Growing Market, Particularly for Electric Vehicles. (Positive)

*Fermenta Biotech:* Company receives EU GMP certification for its Dahej manufacturing facility, Gujarat. (Positive)

*Sam Industries:* Company has entered into a nine-year lease agreement with N. M. Fashion Designs Private Limited for a portion of its premises in Indore (Positive)

*Bank of Baroda:* Company launches co-branded travel debit card with Ease My Trip. (Positive)

*NTPC:* NTPC Green Energy IPO likely in early November. (Positive)

*Reliance Power:* Board of Directors has approved issuance of equity shares and/or warrants of the Company at an Issue Price of Rs. 33/- per share aggregating Rs. 1524.60 crore (Positive)

*Coal India:* Company signs joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam for renewable energy business in Rajasthan (Positive)

*Astra Zeneca:* Company has received permission to import for sale and distribution of Durvalumab 120 mg/2.4 mL and 500 mg/10 mL solution for infusion (Positive)

*Firstsource:* Company's UK arm acquires Ascensos for £42 million (Positive)

*Bharti Airtel:* Company has expanded its network in Gujarat, deploying 8 new cellular towers daily for the past 7 months, reaching over 1,700 new towers. (Positive)

*Vipul Limited:* Company announced that Mr. Kapil Dutta, an Independent Director, has completed his second five-year term and ceased to be a Director effective September 23, 2024. (Neutral)

*Ujaas Energy:* Company received an arbitration award of INR 8.31 crore with 9% interest from Hindustan Aeronautics Limited for a 15 MW solar power project. (Neutral)

*Mawana Sugars:* Company’s shareholders have approved the appointment of Mr. Rakesh Kumar Gangwar as a Director and Managing Director of the company. (Neutral)

*Linde India:* Company has appointed Subba Rao Amarthaluru and Gobichettipalayam Sreenivasan Krishnan as Non-Executive Independent Directors for a 5-year term, effective September 23, 2024. (Neutral)

*Pondy Oxides:* Company announced plans to raise up to Rs 250 crore through a Qualified Institutional Placement. (Neutral)

*Thangamayil Jewellery:* Company has announced a board meeting on September 26th to consider raising funds through equity shares, convertible bonds, or debentures. (Neutral)

*RateGain:* Company has announced the resignation of Nitin Kumar, Executive Vice President. (Neutral)

*Patanjali Foods:* Company has invested Rs 250 million by way of subscription in the equity share capital of its unit contemporary agro Pvt Ltd, on right basis (Neutral)

*United Breweries:* Board Meeting On Oct 24 to Consider Q2 Results (Neutral)

*Punjab National Bank:* Company approves floor price of QIP at 109.16 rupees/share (Neutral)

*Spandana:* Company has approved the sale of a stressed loan portfolio, including written-off loans with an outstanding value of ₹304.41 crore (Neutral)

*Biocon:* Fitch assigns first time 'BB-' IDR to Biocon Biologics; rates proposed senior secured notes 'BB'. (Neutral)

*Adani Power:* Bangladesh’s interim government pays about $150 million out of $800 million in dues for power supplied by Adani Power's coal-fired plant in Godda. (Neutral)

Stocks Picker Articles

23 Sep 2024 05:44

Ganesha Ecoverse: Open: 20-Sep-24; Close: 24-Sep-24
Ducon Infratechnologies: Open: 12-Sep-24; Close: 24-Sep-24
Modern Engineering and Projects: Open: 05-Sep-24; Close: 25-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
Sadhana Nitrochem: Open: 20-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
Sahana System: Open: 11-Oct-24; Close: 25-Oct-24

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

*Amalgamation*
Ador Fontech: Ex-Date: 25-Sep-24

Stocks Picker Articles

30 Sep 2024 04:39

*Fund Houses Recommendations*


GS on *Neuland Labs:* Maintain Buy on Company, raise target price at Rs 12975/Sh (Positive)

GS on *Indusind Bank:* Maintain Buy on Bank, raise target price at Rs 1635/Sh (Positive)

Nomura on *Federal Bank:* Maintain Buy on Bank, raise target price at Rs 240/Sh (Positive)

HSBC on *Varun Beverages:* Initiate Buy on Company, target price at Rs 780/Sh (Positive)

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

NB on *Navin Fluorine:* Upgrade to Buy on Company, raise target price at Rs 4000/Sh (Positive)

CLSA on *Bajaj Finance:* Maintain Outperform on Company, target price at Rs 9200/Sh (Positive)

Morgan Stanley on Utilities: Turned more constructive on the utilities capex cycle given evidence of supply tightness in F25. Overweight on *Tata power, Torrent Power, NTPC and BHEL* (Positive)

Nomura on IT Sector: Buy Call on *Infosys, Wipro* and Cognizant Tech in large caps and *eClerx* In Midcaps (Positive)

Morgan Stanley on OMCs: Prefer *HPCL and BPCL* (benefits of hardware upgrades/ expansion) over IOCL (Positive)

GS on Auto: September-3-month vehicle registration data. *TVS, M&M and Ashok Leyland* gains market share (Positive)

UBS on Auto: Retain buy rating on *TVS Motor and Eicher Motors* (Positive)

Macquarie on *Syngene* management meet: Company expects strong recovery in H2FY25 (Positive)

Macquarie on *Biocon* management meet: Viatris acquisition key-re rating trigger for biosimilars (Positive)

Morgan Stanley on *IT:* Investor positioning is overweight, valuations are at a premium to last five-year averages. (Neutral)

CLSA on *Zomato:* Maintain Outperform on Company, target price at Rs 283.9/Sh (Neutral)

MS on *Berger Paint:* Maintain Underweight on Company, target price at Rs 497/Sh (Neutral)

MS on *Asian Paint:* Maintain Underweight on Company, target price at Rs 2522/Sh (Neutral)

Stocks Picker Articles

30 Sep 2024 04:24

*Stocks in News*


*Welspun Enterprises:* Company emerges as L1 bidder for a Brihanmumbai Municipal Corporation contract worth ₹1,989.9 cr (Positive)

*Elgi Rubber:* Company approved to sell certain immovable properties of Company, Company approved sale of non-current investments of co in open market. (Positive)

*Kansai Nerolac:* Company has opened a new sales depot in Salem, Tamil Nadu, increasing its total network to 114 depots across India. (Positive)

*Everest Kanto:* Company received upgraded ratings from CARE Ratings. Long-term bank facilities retained CARE BBB+; outlook revised from stable to positive. (Positive)

*LTI Mindtree:* Company strengthens partnership with Curry’s, a leading UK retailer of technology products and services, by enabling transformation of its Omni-channel retail customer experiences leveraging salesforce service cloud, commerce cloud and Mulesoft. (Positive)

*Mangalore Chemicals:* Company’s Ammonia and Urea plants have now resumed the production (Positive)

*Zydus life:* Company receives final approval from USFDA for Enzalutamide Capsules, 40 mg. (Positive)

*IDFC:* IDFC First Board Approves amalgamation of IDFC FHCL with IDFC Limited w.e.f Sep 30 and approves amalgamation of IDFC Limited with IDFC FIRST Bank w.e.f Oct 1. (Positive)

*P N Gadgil Jewellers:* Company received upgraded ratings from CRISIL Ratings from A-/Stable to A/Stable. (Positive)

*BEL:* Ministry Of Corporate Affairs approves incorporation of JV company ‘BEL IAI AeroSystems’ with Israel Aerospace Industries. (Positive)

*Adani Energy:* Company signs business transfer agreement with arm North Maharashtra Power Limited to carve out Adani Dahanu Thermal Power Station. (Positive)

*Saksoft Ltd:* Company has executed a Share Purchase Agreement to acquire 100% equity interest in Ceptes Software Private Limited (Positive)

*Avantel:* Company wins order worth Rs 444.9 million from Larsen & Toubro for supply of Satcom systems (Positive)

*RailTel:* Company receives work order of Rs 134.5 cr from Adani Connex Private Limited (Positive)

*Thermax:* Company plans to start manufacturing of solid oxide electrolysers in India in next two years. (Positive)

*Alembic Pharma:* Company gets U.S. FDA establishment inspection report for Panelav facility. (Positive)

*Gensol Engineering:* Company announces its promoter and MD Anmol Jaggi has hiked its stake in the company through open market acquisition. (Positive)

*Hindustan Adhesives:* Commenced commercial production of company's new unit situated at Mauza Majukshetra, West Bengal. (Positive)

*Bajel Projects:* Company Secures First Data Center Order from an upcoming private service provider (Positive)

*Rossari:* Company have approved to purchase a plot of land allotted by GIDC adjoining to the existing Dahej Facility of the Company (Positive)

*KRBL/LT Foods:* Govt allows white rice export with $490/ ton MEP. (Positive)

*Spice Jet:* Singularity Holdings bought 65 lakh shares at Rs 61.61/sh (Positive)

*Reliance Infrastructure:* Calcutta High Court rules in favor, upholding the ₹780 crore arbitration award against Damodar Valley Corporation (DVC). (Positive)

*Mining Stocks:* Iron ore surges almost 8% as Chinese cities ease home curbs. (Positive)

*Dalmia Bharat:* High Court of Calcutta dismissed the review petition filed against Dalmia Bharat (Positive)

*LIC:* Company has reduced its shareholding in Mahanagar Gas Ltd. from 9.030% to 6.939%. (Neutral)

*Tata Motors:* Company conducts groundbreaking ceremony of its new vehicle manufacturing facility in Tamil Nadu. (Neutral)

*Lupin:* US FDA issues 3 observations to co’s Pithampur facility. (Neutral)

*PNB:* Bank raises ₹5,000 crore via QIP to strengthen capital base (Neutral)

*Dr. Reddy’s:* Company completes investment $640 m in Switzerland Unit. (Neutral)

*Zomato:* Akriti Chopra resigns as Co-Founder & Chief People Officer of the company w.e.f. September 27, 2024. (Neutral)

Stocks Picker Articles

27 Sep 2024 05:42

Forthcoming Event

27th September: JHS Svendgaard Retail, Zee Media Corporation to consider Fund Raising

28th September: Antarctica to consider Fund Raising

30th September: Piccadily Agro Industries to consider Fund Raising; PC Jeweller to consider Stock Split

01st October: Reliance Infrastructure to consider Fund Raising

04th October: RDB Realty & Infrastructure to consider Fund Raising

08th October: Julien Agro Infratech to consider Stock Split

14th October: Exxaro Tiles to consider Stock Split

Stocks Picker Articles

27 Sep 2024 04:44

*Stock in Action*

*TATA MOTORS:* Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. It is India’s market leader in commercial vehicles with ~45% market share and amongst the top three in the passenger vehicles market with ~14% market share and plans to increase to 20% in the near future. It acquired Jaguar & Land Rover which caters to the Luxury cars and SUVs. It is investing heavily in the EV Sector, which is the future, and dominates the industry with ~72% market share. It partnered with Tata Power to develop and build 200+ charging stations in India. The trend of cleaner fuels has increased the demand of EV Sector in India, making Tata Motors a popular choice. The expansion of EV market is further boosted by subsidies given by the Indian government by waiving off Registration Fees and Road Taxes and benefits of Income Tax. Over the period, the company has introduced 5 vehicles and plans to double it in 3 years at various ranges catering to a large population. The company is demerging into two listed companies, commercial vehicle and passenger vehicle. It plans on becoming a net zero emission company. *Positive on Tata Motors given the increasing demand of EV market.*

*Nestlé India:* Nestlé India Limited is a subsidiary of Nestlé which is a Swiss MNC. Nestlé is the world’s largest food and beverage company, with over 2000 brands and in 191 countries globally. It is primarily involved in the Food business which incorporates product groups viz. Milk Products and Nutrition, Prepared dishes and cooking aids, Powdered and Liquid Beverages and Confectionery. It owns brands such as NESCAFÉ, MAGGI, MILKYBAR, KIT KAT, BAR-ONE, MILKMAID, NESTEA etc. It is among the top two players in most of its product categories. It has a leading, ~97% market share in Infant Cereals, ~71% in Condensed Milk, ~61% in Choco Wafers, ~60% in Instant Noodles, ~52% in Instant Coffee, etc. The company has established widespread network with 8 manufacturing facilities, 4600+ suppliers, 10000+ distributors and 5.2 million outlets. The company has also launched its first ever ‘direct to consumer’ (D2C) platform, that offers products manufactured by the company in India. It signed an MOU with Nutrihub, ICAR-Institute of Millet Research with the aim of collaborating in areas such as millet processing, understanding health and nutrition benefits of millets in different product applications. Nestlé's vision is to be a leading, competitive nutrition, healthcare, and wellness company to provide customers with high-quality, nutritional food and beverages across a wide range of categories. *Positive on Nestlé given the strong fundamentals and distribution of the company.*

Stocks Picker Articles

27 Sep 2024 04:44

*Stocks in News*


*Railtel Corp:* Company gets work order Rs 1.56 billion from rural development department, Mantralaya, Maharashtra (Positive)

*RITES:* Consortium emerges lowest bidder in a Delhi Metro project worth ₹87.58 cr. (Positive)

*Netweb Technologies:* Company received an Intel Partner Award for Outstanding Growth in the Data Center & AI Group. (Positive)

*Biocon:* Company partners with Tabuk pharmaceuticals to commercialize its glucagon-like Peptide-1 (GLP -1) products in the Middle East region. (Positive)

*Anuh Pharma:* Company has received approval from EDQM for CEP of Allopurinol API which is used to treat Gout and High Uric Acid Levels. (Positive)

*Infosys:* Company announces strategic collaboration with Sally Beauty (Positive)

*Sobha:* Credit ratings of the company has upgraded by ICRA Limited. (Positive)

*Jubilant Pharmova:* Company announced that the USFDA completed an audit of its Allergy Immunotherapy and Contract manufacturing facilities in Spokane, Washington, with no observations. (Positive)

*Krsnaa Diagnostics:* Company Got LOI to Commission Radiology Services. (Positive)

*Yatharth Hospital:* Company receives mega target price on expectations of exponential boost in topline. (Positive)

*Zomato:* Swiggy files ₹3,750 crore IPO to expand quick commerce, pay off debt (Positive)

*Adani Green:* Company and Total Energies finalise $444-million JV for Gujarat solar projects (Positive)

*PEL:* Arm Piramal Capital & Housing Finance sells immoveable property comprising of land & building situated at Santacruz East, Mumbai Property for ₹187 crore (Positive)

*Elgi Equipments:* Company’s subsidiary, Elgi USA, is divesting its entire stake in its joint venture (Positive)

*Marsons:* Company gets LOI worth Rs 6.75 billion from Nacof Oorja to develop a 150 mw (ac) grid-interactive ground-mounted solar PV Power generation plant in Rajasthan (Positive)

*Sun pharma:* Company presents new clinical efficacy and safety data in severe dermatological conditions at the 2024 EADV congress, new data demonstrate improved hair satisfaction in more than 95% of patients taking DEURUXOLITINIB (Positive)

*Thangamayil Jewellery:* Company announced a proposed rights issue of up to Rs 600 Crores to raise funds. (Positive)

*Lemon Tree:* Company announced a new hotel in Sasan Gir, Gujarat, expected to open in FY 2026 (Positive)

*PC Jeweller:* Bank of India approved to one-time settlement proposal submitted by Company (Positive)

*Akme Fintrade:* Company partners with Mas financial services for Co-lending in MSME sector. (Positive)

*RVNL:* Company has signed a MoU with Engineers India Limited to explore global business opportunities, share information, and collaborate on infrastructure projects (Positive)

*Max Healthcare:* Company executes share purchase agreement with Jaypee Infratech & Lakshadweep Group for Rs 398 crore. (Positive)

*SJVN:* Company inks two initial pacts with #Maharashtra government for developing pumped storage and floating solar projects with investment of Rs 48,000 crore. (Positive)

*Shivalik Bimetal:* Company targeting 30% market share in North America, Western Europe (Positive)

*Union Bank:* Joint Forum of AIUBEF, AIUBSF, UBSA and UBIEU, Delhi, consisting of Customer Service Associates and Office Assistants propose to go on Strike On September 27, 2024. (Neutral)

*Nuvama:* Edel Finance & Ecap Equities to sell 6.4% equity in Nuvama Wealth Management via block deals, floor price for the deal is at ₹6,455/sh (Neutral)

*Pricol Ltd:* Company has appointed Mrs. Manoharan Malavika Thothala as an Independent Director for a 5-year term starting October 1, 2024. (Neutral)

*Ask Automotive:* Company to exercise oversubscription option up to 0.55% for offer for sale by promoter. (Neutral)

*Ola Electric:* Company launches ‘Network Partner Program’, Onboards over 600 partners to accelerate EV adoption and Endiceage pan India. (Neutral)

Stocks Picker Articles

26 Sep 2024 05:26

*Forthcoming Event*

26th September: Indian Bank, Pavna Industries, Thangamayil Jewellery, Univastu India to consider Fund Raising

27th September: JHS Svendgaard Retail, Zee Media Corporation to consider Fund Raising

28th September: Antarctica to consider Fund Raising

30th September: Piccadily Agro Industries to consider Fund Raising; PC Jeweller to consider Stock Split

04th October: RDB Realty & Infrastructure to consider Fund Raising

08th October: Julien Agro Infratech to consider Stock Split

14th October: Exxaro Tiles to consider Stock Split

Stocks Picker Articles

26 Sep 2024 04:50

Stock in Action

TRENT Ltd: Trent is a part of the Tata Group and is the 2nd largest company in the Retail industry. It is engaged in retailing of apparels, toys, games, food, etc. with the likes of Westside, Zudio, Star, etc. It has joint ventures with Zara and Massimo Dutti which contributes a portion of the revenue. It aims to build a portfolio of fashion and lifestyle brands ranging from luxurios items to affordable items catering every class of people. The revenue and profits are increasing rapidly at 80% and 117% respectively for the past 3 years. It has a good ROE of 17% for the past 3 years. It has significantly reduced debt in the past year. Its working capital has been reduced from 58 to 29 and cash conversion cycle from 99 to 48 in the past 2 years. It is rapidly opening new stores of Zudio in the country which offers affordable apparels, accessories, etc. The company has been maintaining a healthy dividend payout ratio of 27.4%. Positive on Trent ltd. given its strong fundamentals.

IRCTC: IRCTC, a “Mini Ratna (Category-I)” Central Public Sector Enterprise under the Ministry of Railways, reported 1QFY25 revenue from operations of Rs. 1120.15 crore, marking an increase of 11.8% YoY. EBITDA came in at Rs. 374.92 crore, up 9.3% YoY. The EBITDA margin, however, contracted to 33.5% in the quarter from 34.2% on a YoY basis. PAT of Rs. 307.71 crore rose 32.5% YoY. Revenues from IRCTC's catering business, which is the biggest among the four businesses run by the company, increased to Rs. 558.88 crore, marking a rise of 17.1% YoY. The Internet Ticketing segment’s revenues rose 13.4% YoY to Rs. 329.07 crore. IRCTC has a strong track record of 25 years of operation and has solidified its position as a premier catering and hospitality service provider in India. It is incorporating technology in the catering and hospitality domain through the e-catering services to enhance customer experience onboard. Moreover, it is also seeking to diversify its revenue streams beyond catering and is exploring growth opportunities in packaged drinking water and tourism products. It is taking significant strides in technology and fintech. Additionally, the Ministry of Railways has mandated IRCTC to manage onboard catering services in trains through long-term (5+2 Years) cluster-based contracts. This will enhance of quality in onboard catering services on trains. Positive on IRCTC given its healthy 1QFY25 numbers, focus on enhancing its catering and hospitality business and expansion efforts to capitalize on the expected robust growth in the railways sector.

Stocks Picker Articles

26 Sep 2024 04:23

*Stocks in News*


*Coromandel International:* Company increases shareholding in Senegal based rock phosphate mining company BMCC (Positive)

*Uno Minda:* Company agreement with Hyundai Mobis for manufacturing of licensed products (Positive)

*IDFC Limited:* Company has received final approval from NCLT for the amalgamation of IDFC Financial into IDFC Limited and IDFC Limited into IDFC First Bank. (Positive)

*TVS Holdings:* Company gets CCI approval for acquisition of 80.74% of home credit India finance. (Positive)

*JBM Auto:* Company has announced the incorporation of a wholly-owned subsidiary, JBM Electric Vehicles International PTE Ltd, in Singapore. (Positive)

*Vedanta:* board meeting on OCT 8 to consider fourth interim dividend (Positive)

*Infosys:* Company and Polestar have formed a strategic partnership. (Positive)

*Jaykay Enterprises:* Company’s subsidiary, JK Defence & Aerospace, received Rs 14.05 Cr loan from Julius Baer Capital (India) Private Limited. (Positive)

*Bank of Baroda:* Sydney branch concluded borrowing of AUD 200 million via syndicated term loan facility (Positive)

*Shriram Finance:* Company raised USD 500 million through Social Bonds at 6.15% interest for 3.5 years (Positive)

*Power & Instrumentation:* Company has been appointed by the AAI as the specialized agency for the power supply system of the new integrated passenger terminal building at Maharana Pratap Airport, Udaipur (Positive)

*Prestige Estate:* Company has launched exquisite residential project “Prestige Pine Forest” in Whitefield, Bangalore (Positive)

*Auto Stocks:* Karnataka govt plans new electric vehicle policy with tax exemptions and incentives: sources (Positive)

*Reliance Power:* Company said its subsidiary, Rosa Power, has prepaid ₹850 crore of its debt to Singapore-based lender Varde Partners (Positive)

*Zen Technologies:* Company announced partnership with its subsidiary AI Turing Technologies has launched four innovative remote-controlled weapon and surveillance systems (Positive)

*Adani Ent:* Adani Group explores collaboration with Bombardier to boost Indian aviation (Positive)

*Adani Green:* Promoter entities Hibiscus Trade & Ardour Investment Holding buys 2.96% equity in the Adani Green Between July 30-September 23, 2024 (Positive)

*KPI:* Company gets LoA from Sai Bandhan Infinium for development of 66.20 MW Hybrid Power Project. (Positive)

*PB Fintech:* Company may explore plans to enter the healthcare space & may start its own chain of hospitals, sources to CNBC (Positive)

*Emami:* Company's arms Emami International FZE & Emami International Personal Care incorporates Emami Neo-Herbals International in Bangladesh. (Neutral)

*HUDCO:* Company appointed Shri Daljeet Singh Khatri as Chief Financial Officer replacing Smt. Reva Sethi.. (Neutral)

*Norris Medicines:* Ms. Susmita Mahapatra resigned as an Independent Director of The Company. (Neutral)

*Cipla:* Company purchase of 6.9124% equity interest of Jiangsu XIDI pharmaceuticals held in Cipla (Jiangsu), deal for RMB 35.8 million. (Neutral)

*Sundram Fasteners:* Company announces the retirement of Sri B Muthuraman, Non-Executive Independent Director, and effective September 25, 2024. (Neutral)

*ONGC:* Company approved investment in ONGC Petro additions, Company approved investment in equity shares of opal for Rs 105.01 billion. (Neutral)

*Bank of India:* Bank to accept bids Rs of 25 billion in issue of Basel iii compliant Tier ii bonds. (Neutral)

*Lumax Auto:* Company acquired a 60% stake in Green fuel Energy Solutions for Rs 133 Cr, marking its entry into the green and alternate fuel segment. (Neutral)

*Borosil Renewables:* Company to invest Rs 178.3 million in Clean max Prithvi Pvt Ltd (Neutral)

*KPR Mill:* Company’s promoter KP Ramaswamy sells ₹971.4 crore worth of shares (Neutral)

*Five Star:* PE Investors to sell 19.22% stake in Five Star Finance. Floor price at ₹768 & deal size $517m (Neutral)

Stocks Picker Articles

25 Sep 2024 05:40

Corporate Actions

Dividend

25-Sep-24
ADTECH: Dividend - Rs. - 1.00
MAHSCOOTER: Interim Dividend - Rs. - 110.00
BAJAJHLDNG: Interim Dividend - Rs. - 65.00

27-Sep-24
UVDRHOR: Final Dividend - Rs. - 0.50
WESTLEIRES: Final Dividend - Rs. - 0.10

IPO
Manba Finance: 23-Sep-24; Close: 25-Sep-24
KRN Heat Exchanger and Refrigeration: 25-Sep-24; Close: 27-Sep-24
Diffusion Engineers: 26-Sep-24; Close: 30-Sep-24

Buyback
---

Bonus
NDR Auto Components: Bonus Issue 1:1; Ex-Date: 25-Sep-24
Starlineps Enterprises: Bonus Issue 1:5; Ex-Date: 25-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
Swastika Investmart: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 25-Sep-24
Starlineps Enterprises: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 25-Sep-24
Sanghvi Movers: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 27-Sep-24
Real Eco-Energy: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 04-Oct-24
Rajnish Retail: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 11-Oct-24

Right Issue
Purple Finance: Ex-Date: 26-Sep-24
Modern Engineering and Projects: Open: 05-Sep-24; Close: 25-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
Sadhana Nitrochem: Open: 20-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
Sahana System: Open: 11-Oct-24; Close: 25-Oct-24

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

Amalgamation
Ador Fontech: Ex-Date: 25-Sep-24

Stocks Picker Articles

25 Sep 2024 04:54

*Fund Houses Recommendations*


Jefferies on *Piramal Pharma:* Maintain Buy on Company, raise target price at Rs 260/Sh (Positive)

Macquarie on *BEL:* Maintain Outperform on Company, target price at Rs 350/Sh (Positive)

GS on *NTPC:* Maintain Buy on Company, target price at Rs 430/Sh (Positive)

GS on *Power Grid:* Maintain Buy on Company, target price at Rs 370/Sh (Positive)

CLSA on *Astral:* Upgrade to Hold on Company, target price at Rs 2025/Sh (Positive)

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

Bernstein on Financials: Top picks in financials include *HDFC Bank, Axis Bank and Muthoot Finance* amongst NBFCs. (Positive)

BofA *India Strategy:* Policy shift = pivot for sector rotation. Favors Staples, Financials, Healthcare, Telecom and Autos (Positive)

Goldman Sachs *India Strategy:* India is likely to be among the fastest growing economies in the medium-term (Positive)

Antique on *Piramal Pharma:* Enhanced productivity and cost optimization initiatives are likely to drive its EBITDA margin expansion to ~25% from the current ~15% (Positive)

Jefferies *India strategy:* Valuation is a key concern for FPIs but willingness to explore new ideas from industrial and capex segment was visible (Neutral)

UBS on *Dabur:* Downgrade to Neutral on Company, raise target price at Rs 700/Sh (Neutral)

MS on *MCX:* Maintain Underweight on Company, target price at Rs 2950/Sh (Neutral)

Stocks Picker Articles

25 Sep 2024 04:53

*Stocks in News*


*Max Estates:* Company clinches Rs 391cr deal with New York Life Insurance to reshape Delhi-NCR real estate (Positive)

*Mazagon Dock:* Company has started production for the first Multipurpose Cargo Vessel for Navi Merchants, Denmark (Positive)

*Delta Corp:* Company board approved draft composite scheme of arrangement between co and Delta penland, scheme provides for demerger of Company's hospitality and real estate business (Positive)

*Muthoot/Manappuram:* Gold hits all time high at $2645 an oz and hits all time high. (Positive)

*Sarda Energy:* Company gets consent to expand production capacity of Gare Palma IV/7 coal mine, Company to expand production capacity of coal mine from 1.44 MTPA to 1.68 MTPA. (Positive)

*BEL:* Teaming agreement signed between Company & Reliasat inc. Canada, agreement to partner in area of space products. (Positive)

*LT Foods/KRBL:* India's basmati rice exports seen surging after floor price removed: Reuters (Positive)

*Craftsman Automation:* India cci approves acquisition of 100% share capital of sunbeam light weighting solutions private limited by craftsman automation limited (Positive)

*MHRIL:* Club Mahindra expands its footprint in Mysore with full management of golden landmark resort (Positive)

*Thermax:* Company received an assessment order from the Pimpri Chinchwad Municipal Corporation for FY 2013-14 to 2015-16, demanding Rs. 39 Cr in taxes (Positive)

*TVS Holdings:* India CCI approves acquisition of shares of home credit by TVS holdings, STPL and PIOF and acquisition of shares of STPL by Mr. K. Gopala Desikan, Mr. Anuraag Agarwal, Mr. V. Ganesh, and GWC family fund investments (Positive)

*Tata Elxsi:* Company delivers world’s first RDK-B integration on QUALCOMM 5G fixed wireless access platform (Positive)

*PC Jeweller:* Company to consider stock split on September 30 (Positive)

*Zomato:* SEBI clears Swiggy’s confidential filing for its IPO (Positive)

*Emerald Finance:* Company partnered with GE Info Solutions, Partnership to offer early-wage-access program to employees (Positive)

*Auto Stocks:* Hyundai application for IPO gets SEBI nod (Positive)

*KEC International:* Company launches QIP to raise up to ₹870 cr, indicative issue price at ₹955/sh: CNBC. (Positive)

*Mukta Arts:* Company assignment agreement and term sheet has been executed between the Company and ZEEL for assignment of satellite and media rights of 37 films of the co for a limited period of 6 years. (Positive)

*Maithan Alloys:* Company Recommended Dividend of 6 Rupees per Share. (Neutral)

*Fedbank Financial:* Company announced the appointment of Mrs. Sonal Dave as an Independent Director for a 5-year term, effective September 24, 2024. (Neutral)

*Mindteck:* Company has announced the allotment of 63, 69,611 bonus shares in a 1:4 ratio to existing shareholders as of September 20, 2024. (Neutral)

*Natco Pharma Ltd: Mr. Sourav Chakraborty announced the resignation from AVP Sales & Marketing, Crop Health Sciences Division, and effective September 24, 2024. (Neutral)

*Tata Power:* There was a fire incident in the control room of unit no. 5 (500 mw unit) of trombay plant on sept 23, 2024. (Neutral)

*Solar industries India:* Company has announced the approval of the scheme of amalgamation by the NCLT, Mumbai bench. (Neutral)

*Grasim:* Subsidiary has issued 2, 50,000 Non-Convertible Debentures on a private placement basis for up to Rs 2,500 Cr. (Neutral)

*Gillette India:* Company announced termination of distribution agreement with distributor from Bangladesh, in FY24, net sales under said agreement accounted for 2% of net sales (Neutral)

*Hariom Pipe:* Company raising of funds through issuance of shares up to Rs 7 billion (Neutral)

*Vraj Iron:* Company has invested Rs 125.9 million in Vraj Metaliks Pvt Ltd (Neutral)

*Nestle India:* Board Meeting on Oct 17 to consider Q2 results. (Neutral)

*ICICI Bank:* Board Meeting on Oct 26 to consider Q2 results. (Neutral)

Stocks Picker Articles

24 Sep 2024 05:32

*Forthcoming Event*

24th September: Hariom Pipe Industries, Lexus Granito (India), Prudential Sugar Corporation, Ugro Capital, Vakrangee, Viceroy Hotels, Zodiac Ventures to consider Fund Raising; Hindustan Foods to consider Scheme of Arrangement

25th September: Sellwin Traders to consider Bonus issue & Stock Split; Yogi to consider Fund Raising

26th September: Indian Bank, Pavna Industries, Thangamayil Jewellery, Univastu India to consider Fund Raising

30th September: Piccadily Agro Industries to consider Fund Raising

04th October: RDB Realty & Infrastructure to consider Fund Raising

08th October: Julien Agro Infratech to consider Stock Split

14th October: Exxaro Tiles to consider Stock Split

Stocks Picker Articles

24 Sep 2024 04:47

*Fund Houses Recommendations*


MS on *ONGC:* Maintain Overweight on Company, target price at Rs 430/Sh (Positive)

Nomura on *IPCA Labs:* Maintain Buy on Company, raise target price at Rs 1750/Sh (Positive)

Emkay on *GMR Power:* Initiate Buy on Company, target price at Rs 180/Sh (Positive)

MOSL on *Power Grid:* Maintain Buy on Company, target price at Rs 425/Sh (Positive)

MOSL on *JSW Energy:* Maintain Buy on Company, target price at Rs 917/Sh (Positive)

MOSL on *Tata Power:* Maintain Buy on Company, target price at Rs 530/Sh (Positive)

Citi on *Vodafone Idea:* Maintain Buy on Company, target price at Rs 17/Sh (Positive)

Emkay on *PayTM:* Upgrade to Add on Company, raise target price at Rs 750/Sh (Positive)

HSBC on *IIFL FIn:* Upgrade to Hold on Company, target price at Rs 540.0/Sh (Positive)

Nuvama on *Auro Pharma:* Maintain Buy on Company, raise target price at Rs 1730/Sh (Positive)

Bernstein on *Life Insurance:* Private life insurers have delivered 20%+ returns over the last 3 months (Positive)

IIFL on *Cement Stocks:* All-India average cement price up by Rs 8/bag or 2.6% in sept (MoM) (Positive)

Jefferies on IT Sector: Management of *HCLTech, TechM and LTIMindtree* highlighted that there has been no material change in the demand environment recently (Neutral)

MOSL on *NTPC:* Maintain Neutral on Company, target price at Rs 450/Sh (Neutral)

MOSL on *IEX:* Maintain Neutral on Company, target price at Rs 226/Sh (Neutral)

Equirus on *Astec Life:* Downgrade to Sell on Company, cut target price at Rs 970/Sh (Negative)

Stocks Picker Articles

23 Sep 2024 05:44

*Forthcoming Event*

23rd September: Pondy Oxides & Chemicals, Reliance Power, Royal Sense, Servotech Power Systems, to consider Fund Raising; Cropster Agro to consider Bonus issue & Stock Split; Quasar India to consider Stock Split

24th September: Hariom Pipe Industries, Lexus Granito (India), Prudential Sugar Corporation, Ugro Capital, Vakrangee, Viceroy Hotels, Zodiac Ventures to consider Fund Raising; Hindustan Foods to consider Scheme of Arrangement

25th September: Sellwin Traders to consider Bonus issue & Stock Split; Yogi to consider Fund Raising

26th September: Indian Bank to consider Fund Raising

30th September: Piccadily Agro Industries to consider Fund Raising

04th October: RDB Realty & Infrastructure to consider Fund Raising

08th October: Julien Agro Infratech to consider Stock Split

Stocks Picker Articles

23 Sep 2024 05:44

*Corporate Actions*

*Dividend*

*23-Sep-24*
LAOPALA: Dividend - Rs. - 10.00
ADDIND: Final Dividend - Rs. - 1.25
SHUKRAPHAR: Final Dividend - Rs. - 1.00
ZODIACVEN: Final Dividend - Rs. - 0.25
VEDAVAAG: Final Dividend - Rs. - 0.75
VISVEN: Dividend - Rs. - 0.50
AARNAV: Final Dividend - Rs. - 0.50
SVRL: Final Dividend - Rs. - 1.00
INTENTECH: Final Dividend - Rs. - 1.00
ONEGLOBAL: Final Dividend - Rs. - 1.00
JINDALPOLY: Final Dividend - Rs. - 5.50
SHELTER: Final Dividend - Rs. - 0.33
RCF: Final Dividend - Rs. - 1.24
VRL: Final Dividend - Rs. - 2.00
JYOTIRES: Final Dividend - Rs. - 9.00
KEMISTAR: Final Dividend - Rs. - 0.50
AAIL: Final Dividend - Rs. - 0.60
GUJAPOLLO: Final Dividend - Rs. - 2.00
BESTAGRO: Final Dividend - Rs. - 3.00
CFEL: Final Dividend - Rs. - 0.3750
ATAM: Final Dividend - Rs. - 0.75
SRSOLTD: Final Dividend - Rs. - 1.00
SSWL: Final Dividend - Rs. - 1.00
ORIENTCER: Final Dividend - Rs. - 0.25
BBTCL: Final Dividend - Rs. - 1.00
VIKRAMTH: Final Dividend - Rs. - 0.75
STL: Final Dividend - Rs. - 0.10
VIPULORG: Final Dividend - Rs. - 1.00
TALBROSENG: Final Dividend - Rs. - 2.50
RVNL: Final Dividend - Rs. - 2.11
AARTECH: Final Dividend - Rs. - 0.25
PANCHSHEEL: Final Dividend - Rs. - 0.80
TITANBIO: Dividend - Rs. - 2.00
BMW: Final Dividend - Rs. - 0.21
SERA: Final Dividend - Rs. - 0.10
OMINFRAL: Final Dividend - Rs. - 0.50
AVG: Final Dividend - Rs. - 1.20
GEMENVIRO: Final Dividend - Rs. - 0.50
BAJAJHCARE: Final Dividend - Rs. - 1.00
GALLANTT: Final Dividend - Rs. - 1.00
SUNTECK: Final Dividend - Rs. - 1.50
AEL: Final Dividend - Rs. - 0.50
SIGNPOST: Final Dividend - Rs. - 0.50
SOFTRAKV: Final Dividend - Rs. - 0.05
DEVIT: Final Dividend - Rs. - 0.25
HPL: Final Dividend - Rs. - 1.00
RADHIKAJWE: Final Dividend - Rs. - 0.20
SAHLIBHFI: Dividend - Rs. - 1.20
HIMTEK: Final Dividend - Rs. - 0.40
EMERALD: Final Dividend - Rs. - 0.10
AKSHARCHEM: Final Dividend - Rs. - 0.50
GENUSPOWER: Final Dividend - Rs. - 0.60
SBC: Final Dividend - Rs. - 0.05
BHANDARI: Final Dividend - Rs. - 0.01
CEIGALL: Final Dividend - Rs. - 0.50
CAPLIPOINT: Final Dividend - Rs. - 2.50
INANI: Final Dividend - Rs. - 0.04
PRAVEG: Final Dividend - Rs. - 1.00
HFCL: Dividend - Rs. - 0.20
COCHINSHIP: Final Dividend - Rs. - 2.25
PIGL: Final Dividend - Rs. - 0.20
CONFIPET: Final Dividend - Rs. - 0.10
SMSPHARMA: Final Dividend - Rs. - 0.40
SMSLIFE: Dividend - Rs. - 1.50
SHAKTIPUMP: Final Dividend - Rs. - 4.00
PANORAMA: Final Dividend - Rs. - 0.20
PRESTIGE: Final Dividend - Rs. - 1.80
STARTECK: Final Dividend - Rs. - 0.25
FREDUN: Final Dividend - Rs. - 0.70
ADVAIT: Final Dividend - Rs. - 1.50
ROSEMER: Final Dividend - Rs. - 0.10
BDL: Final Dividend - Rs. - 0.85
NAVKAR: Final Dividend - Rs. - 0.01
GROVY: Final Dividend - Rs. - 0.10
POKARNA: Final Dividend - Rs. - 0.60
RIR: Final Dividend - Rs. - 2.00
PGEL: Final Dividend - Rs. - 0.20

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

*Buyback*
Insecticides (India): 18-Sep-24; Close: 24-Sep-24

*Bonus*
NDR Auto Components: Bonus Issue 1:1; Ex-Date: 25-Sep-24
Starlineps Enterprises: Bonus Issue 1:5; Ex-Date: 25-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*
Srestha Finvest: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 23-Sep-24
Swastika Investmart: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 25-Sep-24
Starlineps Enterprises: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 25-Sep-24
Sanghvi Movers: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 27-Sep-24
Real Eco-Energy: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 04-Oct-24
Rajnish Retail: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 11-Oct-24

*Right Issue*
Purple Finance: Ex-Date: 26-Sep-24
Sru Steels: Open: 09-Sep-24; Close: 24-Sep-24