Stocks Picker Articles

10 Dec 2024 03:54

*Stocks in actions*
*Welspun Living* : Welspun Living is one of the largest home textile manufacturers in the world. The Company offers a wide spectrum of Home & Technical textile products and Flooring solutions. Company gave a stellar performance in Q2FY25 with Revenue growing by 16% YoY to Rs 2,936 cr, driven by capacity utilisation across product categories & holiday season demand in the US. PBT grew by 8% (YoY) to 280 cr, PAT grew by 1% (YoY) to 202 cr. Welspun is navigating challenges such as higher shipping costs and inventory buildup due to disruptions in the Red Sea, which impacted profitability. However, a strong U.S. distribution network has helped reduce revenue losses. The company is focusing on expanding its presence in the U.S., Europe, and India through strategic partnerships, with innovation driving 22% YoY growth in advanced textiles and emerging business segments. Welspun is committed to sustainability, aiming for 100% renewable energy by 2030, and plans to invest ₹1,050 cr over two years to boost production capacity, targeting growth in domestic markets. Despite geopolitical uncertainties, the company is optimistic about reaching a revenue goal of ₹15,000 cr by FY27, supported by improving domestic retail performance and positive demand from major U.S. retailers. Additionally the recent slowdown in the Bangladesh Textile industry will also benefit the company positively. *Positive on Welspun Living given the strong fundamentals and performance of the company* .

*Kalpataru Projects International* : Kalpataru Power Transmission is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation. During Q2FY25 the company achieved record order inflows of Rs. 11,865 cr, with consolidated revenue rising 9% YoY to Rs. 4,930 cr. Profit Before Tax (PBT) grew by 42%(YoY) to Rs 188 cr, and Profit After Tax (PAT) grew by 40%(YoY) to Rs 126 cr, reflecting robust financial health. There was substantial growth across various sectors—Power & Energy (25% YoY), Oil & Gas (170% YoY), and Urban Infrastructure (31% YoY), though the Water business faced a 43% (YoY) revenue decline due to delayed collections. Management anticipates continued growth in Q3, driven by a diverse project portfolio and improved execution capabilities, while acknowledging challenges in the Water sector may impact overall performance. While prioritising the European market due to profitability, the company remains optimistic about international prospects, particularly in transmission and distribution areas, despite caution in the Middle East market. Additionally the company has recently recived another order of Rs 2,174 Cr during Q3FY25. *Positive on Kalpataru Projects International given the strong fundamentals and performance of the company* .

Stocks Picker Articles

09 Dec 2024 04:45

Forthcoming Event

09th December: STYRENIX to consider Dividend; Shraddha Prime Projects to consider Bonus issue; India Finsec, Metropolis Healthcare, Sustainable Energy Infra Trust, Swashthik Plascon, Vivanta Industries, Vodafone Idea to consider Fund Raising; Indo Borax & Chemicals to consider Voluntary Delisting

10th December: SACHEMT to consider Dividend; Adinath Exim Resources, Akme Fintrade (India), Balgopal Commercial, Candour Techtex, Cineline India, Mega Corporation, Rama Steel Tubes, Shriram Asset Management Company, Vipul to consider Fund Raising; Indraprastha Gas to consider Bonus issue; Ascensive Educare to consider Stock Split

11th December: STEELCITY to consider Dividend; Arunjyoti Bio Ventures to consider Stock Split; Brooks Laboratories, Continental Securities, Faalcon Concepts, Kothari Industrial Corporation, PC Jeweller, Paisalo Digital, Sammaan Capital, Veranda Learning Solutions to consider Fund Raising

12th December: Optiemus Infracom to consider Fund Raising

13th December: Garnet International, Greenhitech Ventures to consider Fund Raising

16th December: Thinkink Picturez to consider Dividend & Bonus issue; Alexander Stamps And Coin to consider Fund Raising

Stocks Picker Articles

09 Dec 2024 03:58

*Fund Houses Recommendations*


MOSL on *Reliance:* Maintain Buy on Company, target price at Rs 1580/Sh (Positive)

Jefferies on *Sun Pharma:* Maintain Buy on Company, target price at Rs 2150/Sh (Positive)

InCRED on *Lloyd Metals:* Initiate Add on Company, target price at Rs 1476/Sh (Positive)

MOSL on *Tata Power:* Maintain Buy on Company, target price at Rs 509/Sh (Positive)

Morgan Stanley on *Samvardhana Motherson:* Maintain Overweight on Company, target price at Rs 193/Sh (Positive)

UBS on *Godrej Consumer:* Maintain Buy on Company, target price at Rs 1450/Sh (Positive)

JPMorgan on *Godrej Consumer:* Maintain Overweight on Company, target price at Rs 1410/Sh (Positive)

Investec on *Ceat:* Maintain Buy on Company, target price at Rs 3750/Sh (Positive)

Citi Research on *Godrej Consumer:* Maintain Buy on Company, target price at Rs 1550/Sh (Positive)

IIFL on *Ceat:* Maintain Buy on Company, target price at Rs 4000/Sh (Positive)

Axis Capital on *Ceat:* Maintain Buy on Company, target price at Rs 3450/Sh (Positive)

Investec on *Ceat:* Maintain Buy on Company, target price at Rs 3750/Sh (Positive)

Emkay on *Ceat:* Maintain Buy on Company, target price at Rs 3650/Sh (Positive)

Emkay on *GHCL:* Maintain Buy on Company, target price at Rs 900/Sh (Positive)

Equirus on *PG Electroplast* Initiate Buy on Company, target price at Rs 980/Sh (Positive)

Macquarie on *Godrej Consumer:* Maintain Neutral on Company, target price at Rs 1260/Sh (Neutral)

Emkay on *Godrej Consumer:* Reduce, target price at Rs 1225/Sh on Company (Negative)

Stocks Picker Articles

09 Dec 2024 03:26

*Godawari Power:* Company announces acquiring up to 51% stake in Jammu Pigments Ltd (JPL), a non-ferrous metal recycling company, for ₹500 Cr. (Neutral)

*Raymond Lifestyle:* Company Rs 2055 Cr bank loan facilities received Crisil AA/Stable (long-term) and A1+ (short-term) ratings. (Neutral)

*M&M:* Company to contest brand rights of BE 6e in court to name its Electric Origin SUV “BE 6”. (Neutral)

*Ramco Industries:* ICRA reaffirmed Company’s credit ratings. Short-term ratings for Rs 500 Cr line of credit remain unchanged (Neutral)

*India Cements:* Company is in process of furnishing response to CCI in this regard and will be able to satisfy the concerns the CCI may have as the cement market is extremely competitive. (Neutral)

*Mastek:* Company announces the name change of its Saudi Arabian step-down subsidiary from Evolutionary Systems Saudi LLC to Mastek Information Technology Company (Neutral)

*Dhampur Sugar Mills:* Company issued Rs 50 Cr commercial papers on Dec 6, 2024. (Neutral)

*Star Health:* Company gets Show Cause Notice from IRDAI for non-compliance with various regulations & guidelines (Negative)

Stocks Picker Articles

06 Dec 2024 04:03

*Stock in Action*

*HEG Ltd.:* HEG Limited, is a leading manufacturer and exporter of graphite electrodes in India and operates world's largest single-site integrated graphite electrodes plant at Mandideep in Madhya Pradesh. The company also operates three power generation facilities with a total rated capacity of about 76.5 MW. The power generation primarily fuels the graphite electrode manufacturing operations, with the surplus being sold in the open market.The company is a major exported of graphite electrode, with a number of respected steel manufactures, namely ArcelorMittal, POSCO, Thyssenkrupp, US Steel, Nucor and Usinor in their customer base. EG Limited has cemented its position as a global leader with its expanded capacity of 100,000 tons now fully operational, making it the largest graphite electrode plant in the western world. The company achieved an impressive 80% capacity utilization in Q2 FY25, the highest among global producers, reflecting its operational efficiency. Despite the tough market scenario, HEG reported robust numbers. EBITDA for Q2 FY25 is ₹140 crores compared to ₹130 crores YoY and a healthy standalone net profit of ₹62 crores. It is long-term debt-free and has a healthy treasury of ₹923 crores as of September 2024.HEG is positive on the future outlook, and the management is of the view that margins will recover in the second half of 2025 as the decarbonization trend continues and EAF capacities are likely to increase across the globe. The demerger of HEG Greentech is also moving ahead smoothly, and completion is expected by late 2025, unlocking more value for the stakeholders. Additionally, HEG is also finalizing plans for a graphite anode plant with an estimated project cost of ₹1,750 crores, which is to be assisted by potential state subsidies. This plant will be gradually ramped up to 90% capacity utilization. Strong export relationships and scale and efficiency advantages will allow HEG to benefit from growing global demand for graphite electrodes in the coming years. Additionally recent stiff restriction in Chinese exports of Graphite will also provide major tailwind for the company. *Positive on HEG Ltd. given the strong fundamentals and performance of the company.*

*Blue Star:* Company provides India's widest ranges of air conditioning and commercial refrigeration products besides a wide range of air purifiers, air coolers, water purifiers, cold chain equipment and specialty products. It serves cooling and refrigeration requirements of a large number of corporate and commercial as well as residential customers. Other businesses under Blue Star include marketing, design and maintenance of imported professional electronic equipment and services, asd well as industrial products and systems under the umbrella of Blue Star Engineering & Electronics Limited. The company performed strongly in Q2FY25 with revenues up by 20.4% YoY at ₹2,275.96 Cr and net profit increased by 35.7% at ₹96.06 Cr with stable margins and strong 9.8% increase in the order book at ₹6,598.20 Cr. Growth was led by Segment I (Electro-Mechanical Projects) with a 32.6% growth in revenues, and in Segment II (Unitary Products), the company maintained market leadership in Room Air Conditioners with a revenue growth of 25%. Though Segment III, Professional Electronics experienced a short-term disruption, it is likely to bounce back with elections. The Room Air Conditioner business bounced back with a volume growth of 30%, and the impacts of Commercial Refrigeration on regulation are likely to stabilize. Management is positive to deliver 20-25% top-line growth and 8.5-9% margins in FY25, with investments in R&D, digitalization, and new product development particularly on energy-efficient solutions for global markets. *Positive on Blue Star given the strong fundamentals and performance of the company.*

Stocks Picker Articles

06 Dec 2024 03:26

*Apollo Tyres:* Company announced the cut-off date for its postal ballot on the issuance of up to Rs 10,000 million in Non-Convertible Debentures via private placement. (Neutral)

*Torrent Power:* Company raises ₹3,500 crore through its QIP; 50% shares issued to one MF (Neutral)

*Mahindra Logistics:* Company’s ₹100 crore Commercial Paper credit rating (ICRA A1+) remains valid, as confirmed by ICRA on Dec 5, 2024. (Neutral)

*KIMS:* Company increased its stake in subsidiary Arunodaya Hospitals by 3% to 70.66%, costing Rs 2.25Cr. (Neutral)

*Muthoot Capital Services:* Company approved issuing Rs 90 crore Non-Convertible Debentures via private placement. (Neutral)

*Shriram Asset Management:* Board will meet on Dec 10, 2024, to consider a preferential share issue. (Neutral)

*Tata Motors:* JLR's total sales down 11% at 5,558 units vs 6,251 units year-on-year. (Neutral)

*FSN E-Commerce:* Nykaa Fashion CEO, Mr. Nihir Parikh, resigned effective December 5, 2024, due to personal reasons. (Negative)

*Spandana Sphoorty:* ICRA revised outlook to negative from stable for Spandana Sphoorty, rating reaffirmed ICRA A+ (Negative)

*Mishtann Foods:* SEBI has ordered Mishtann Foods to recover nearly ₹100 crore, misappropriated or diverted through group entities and its promoters. (Negative)

Stocks Picker Articles

05 Dec 2024 03:30

*Fund Houses Recommendations*


Citi on *Indus Tower:* Maintain Buy on Company, target price at Rs 485/Sh (Positive)

CLSA on *Persistent:* Maintain Outperform on Company, riase target price at Rs 8462/Sh (Positive)

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

Yes on *IOCL:* Maintain Buy on Company, target price at Rs 154/Sh (Positive)

Yes on *BPCL:* Maintain Buy on Company, target price at Rs 370/Sh (Positive)

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

GS on *Consumer Durables:* In FY26, expect real-estate driven demand for electricals and durables to accelerate. *Havells* has most diversified portfolio (Positive)

Nomura on *RBI Meet:* Maintain out-of-consensus call for 25 bps repo rate cut to 6.25% on December 6 (Positive)

Bank of America on *IT Sector:* Outlines 7 key trends in IT sector for 2025. (Neutral)

Nomura *Cement Sector:* Price hike in East & North bumps pan-India trade prices by ₹5/bag MoM , concerns remain over demand pan-India (Neutral)

UBS on *Hero Motocorp:* Maintain Sell on Company, target price at Rs 3430/Sh (Neutral)

MS on *Hero Motocorp:* Maintain Underweight on Company, target price at Rs 4110/Sh (Neutral)

Stocks Picker Articles

05 Dec 2024 03:29

*Stocks in News*

*Suraj Estate:* Company has purchased through a Conveyance Deed a vacant parcel of land admeasuring ~ 1,464 square meters. (Positive)

*RPP Infra Projects:* Company has agreed to develop the 96 Legends project in Sri Lanka with Wills Realtors Pvt Ltd. (Positive)

*Dynamic Services:* Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive)

*Gallantt Ispat:* Company receives ₹80.45-crore SGST reimbursement from Gujarat, Uttar Pradesh governments. (Positive)

*Indraprastha Gas:* Company to consider bonus shares on December 10. (Positive)

*Infosys:* Company partners with Kardex to transform its business operations using SAP S/4HANA and Infosys Cobalt. (Positive)

*Quick Heal Technologies:* Company launched Seqrite Malware Analysis Platform (SMAP) and Threat Intel solution. (Positive)

*Torrent Pharma:* Company acquires 3 anti-diabetes brands from Boehringer Ingelheim for an undisclosed sum. (Positive)

*Techno pack:* Company approves bonus share in the ratio 1:1. (Positive)

*Hero MotoCorp:* Company launched VIDA V2 electric scooters in 3 variants (Positive)

*E2E Networks:* L&T invested ₹1079.28 Cr for 29,79,579 equity shares, increasing the paid-up equity share capital to ₹19.86 Cr. (Positive)

*Royal Orchid:* Company opened Regenta Inn in Raipur, Chhattisgarh - its first property in the state. (Positive)

*Sonata Software:* Company achieved AWS Generative AI Competency. (Positive)

*Cyient DLM:* Company signs a MoU with Arcedo Systems to establish a 500 kWp solar power plant at its Mysore facility. (Positive)

*Swiggy:* Company mulls increasing Instamart delivery charges to boost profit margins. (Positive)

*GOCL Corp:* Company announces further monetization of 11 acres of land for ₹142.15 crore. (Positive)

*Kross:* Approved acquisition of 6.56 acres for future expansion. (Positive)

*RailTel:* Company secures Rs. 10.64 crore order from Gail. (Positive)

*Unicommerce:* Hummel partners with Unicommerce for e-commerce operations. (Positive)

*Bondada Engineering:* Company bags order worth ₹108.9 crore from Bihar Renewable Energy Development Agency. (Positive)

*Sikko Industries:* Company board approved the Letter of Offer for its rights issue (Neutral)

*Rane (Madras) Ltd:* Company’s credit rating remains unchanged. (Neutral)

*Adani Power:* Company’s subsidiary, Mahan Energen Limited, has successfully amalgamated with Stratatech Mineral Resources Private Limited. (Neutral)

*Mastek:* Company's Global CFO, Mr. Arun Agarwal, resigned on Dec 3, 2024. (Neutral)

*Muthoot Microfin:* Company reduces lending rates by 25 bps for IGL, by 125 bps for TPP. (Neutral)
*Bharat Forge:* Company opens QIP, sets floor price at ₹1,323.54/sh. (Neutral)

*Indus Tower:* Omega Telecom Holding and Usha Martin Telematics to sell stake in Indus Towers, offer size is at ₹2,716.9 cr to ₹2,835.8 cr: CNBC Sources (Neutral)

*Eicher Motors:* Royal Enfield opens new assembly plant in Thailand (Neutral)

*Indian Bank:* Received RBI approval to exercise the call option on ₹1500 crore of its Tier 2 Bonds. (Neutral)

*Mahindra Lifespace:* Company received five GST tax orders totaling ₹10.7Cr from Tamil Nadu. (Neutral)

*EPACK Durable:* Company announced the resignation of its Company Secretary and Compliance Officer, Mr. Arjit Gupta (Neutral)

*KPIT Technologies:* Company completed the acquisition of Technica Group for €80 million and KPIT engineering SUARL for €5 million. (Neutral)

*Home First:* Orange Clove Investments B.V. sold 9,442,236 equity shares (10.59%) of Home First Finance Company India Ltd. (Neutral)

*Force Motors:* November Total Sales 1,885 Units Vs 1,884 Units YoY. (Neutral)

*PG Electroplast:* Company opens QIP, sets floor price at ₹705.18/sh (Neutral)

*Kirloskar Pneumatic:* Company acquired 55.26% equity shares of Systems and Components. (Neutral)

Stocks Picker Articles

04 Dec 2024 04:23

*Corporate Actions*

Kore Digital has approved the issue of two bonus equity shares of Rs 10 each for every one (1) equity share held.

*Dividend*

*04-Dec-24*
CANFINHOME: Interim Dividend - Rs. - 6.00

*06-Dec-24*
PHOENIXTN: Interim Dividend - Rs. - 0.10

*13-Dec-24*
CEENIK: Final Dividend - Rs. - 1.00


*IPO*
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Consecutive Investments: Bonus Issue 1:1; Ex-Date: 06-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24

*Stock Split*
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Consecutive Investments: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Eraaya Lifespaces: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24
Global Education: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Shradha AI Tech: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 10-Dec-24
Shradha Infraprojects: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Exxaro Tiles: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Dec-24
PC Jeweller: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 16-Dec-24

*Right Issue*
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Scanpoint Geomatics: Open: 05-Dec-24; Close: 13-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24
Gujarat Natural Resources: Open: 12-Dec-24; Close: 20-Dec-24
Viceroy Hotels: Open: 12-Dec-24; Close: 24-Dec-24
Enbee Trade & Finance: Open: 10-Dec-24; Close: 30-Dec-24

*Spin Off*
Strides Pharma Science: Ex-Date: 06-Dec-24

Stocks Picker Articles

04 Dec 2024 03:54

*Fund Houses Recommendations*


Jefferies on *Supreme Ind:* Maintain Buy on Company, target price at Rs 6450/Sh (Positive)

Investec on *JSW Infra:* Maintain Buy on Company, target price at Rs 370/Sh (Positive)

Citi on *Cipla:* Maintain Buy on Company, target price at Rs 1800/Sh (Positive)

Nomura on *Oberoi Real:* Initiate Buy on Company, target price at Rs 2500/Sh (Positive)

CLSA on *Zomato:* Maintain Outperform on Company, target price at Rs 370/Sh (Positive)

Citi on *Financials:* Expectations mount regarding a potential CRR cut and improved prospects for repo rate reduction. CRR cut can be viewed favorable for HDFC Bank, Axis Bank, Federal Bank and Bank of Baroda (Positive)

Goldman Sachs on *Cement:* Outlook FY26 - Demand to pick up, new supply to limit pricing/profitability improvement. Buy Call on UltraTech (Positive)

MS on *Energy Stocks:* Expects a new wave of LNG supply growth to start in 2025 at measured pace. (Neutral)

Macquarie *Asia Strategy:* Across measures, both absolute and relative, forward multiples in India are 2 standard deviations above the long-term average (Neutral)

Jefferies on *GAIL:* Maintain Buy on Company, target price at Rs 235/Sh (Neutral)

Stocks Picker Articles

03 Dec 2024 04:26

*Forthcoming Event*

04th December: Aarey Drugs & Pharmaceuticals, Avro India, Eco Hotels & Resorts, Fusion Finance, Norben Tea & Exports to consider Fund Raising; GB Global to consider Scheme of Arrangement; Minolta Finance to consider Stock Split & Fund Raising

05th December: Muthoot Capital Service, Sical Logistics, Sudarshan Chemical Industries to consider Fund Raising

07th December: Autopal Industries to consider Reduction of Capital & Fund Raising

09th December: Shraddha Prime Projects to consider Bonus issue; Sustainable Energy Infra Trust to consider Fund Raising; Indo Borax & Chemicals to consider Voluntary Delisting

11th December: Faalcon Concepts, Veranda Learning Solutions to consider Fund Raising

Stocks Picker Articles

03 Dec 2024 04:26

*Stock in Action*

*CONCORD BIOTECH:* Concord Biotech Limited is an R&D-driven biopharma company that manufactures Active Pharmaceutical Ingredients (APIs) through fermentation and semi-synthetic processes, as well as finished dosage forms. It has a portfolio spanning over 30 fermentation APIs, 135+ drug master files (DMFs) filed globally, and 98 approved formulation products across various markets. The company has fermentation capacity of 1,250 m³, overall formulation manufacturing capacity of 802 million units, and 4 ANDAs approved for products from its facilities. It is one of the leading global developers and manufacturers of fermentation-derived APIs and boasts a robust pipeline of more than 10 products across therapeutic segments like oncology, anti-infectives, and antifungals. In Q2FY25, the company reported net revenue of Rs. 310 crores, reflecting an 18% YoY growth, with EBITDA at Rs. 137 crores, growing 15% YoY. Net profit stood at Rs. 96 crores, marking an 18% YoY increase. The API business contributed Rs. 230 crores, accounting for 74% of the revenue, while the formulations business contributed Rs. 80 crores, representing 26% of the revenue. 53% of sales came from domestic markets, with 47% from exports. This growth underscores deeper market penetration, an expanded customer base, and entry into new regions. The company remains committed to launching 8-10 new products over the next 3-4 years in oncology, anti-infectives, and antifungals, thus expanding its addressable market to further amplify growth. It holds a leadership position for select molecules in global markets and has a portfolio across a wide range of therapeutic areas. The company operates scaled manufacturing facilities with a consistent regulatory compliance track record, flexible plant configurations, backward integration with KSMs, and level regulatory approvals for global markets. It has commercialized a broad spectrum of fermentation-based APIs. *Positive on Concord Biotech given the strong fundamentals and performance of the company.*

*NMDC:* NMDC is engaged in the exploration and production of iron ore, along with diamonds, the production and sale of sponge iron, and the generation and sale of wind power. NMDC is one of the nine “Navratna” public sector undertakings, recognized for their exemplary performance and autonomy. It holds a market share of ~16%. In Q2FY25, standalone revenues stood at Rs. 4,807 crores, up 19.7% YoY, with realizations rising 17.7% YoY. Iron ore sales volumes were 9.7 million tonnes, reflecting a 1.8% YoY increase. Production volumes in H1 were 17.6 MT, with a full-year guidance of 50 MT. Realizations are expected to improve in Q3, as the company implemented price hikes in October. Operating profit stood at Rs. 1,440 crores, reflecting a 20.7% YoY increase. EBITDA per tonne was Rs. 1,479, an 18.6% YoY increase. PAT stood at Rs. 1,269 crores, marking a 23.5% YoY increase. The company has guided to achieve 50 MT of iron ore production in FY25 and 54 MT in FY26. NMDC has a capex plan of ~Rs. 2,200 crores for FY25. The company has implemented price hikes of 17-18% in the last month. The expected strong growth in iron ore volumes will drive the company's growth, supported by the government's strong infrastructure push and a thriving real estate sector. During the quarter, NMDC entered into an MOU with RINL for a long-term lease of 1,167 acres to set up various facilities. NMDC is undertaking multiple capex projects to augment ore production, improve the product mix, and enhance mining capacities. The 15 MT slurry pipeline from Bailadila to Nagarnar is progressing well, with almost all approvals received. Of the 131 km, ~73 km has already been laid, with the rest to be completed soon. As of now, NMDC’s total EC limit is ~51 MT, with ~19 MT each in Kirandul and Bacheli, and the rest in Karnataka. NMDC has received 1.5 MT EC for the Kumaraswamy mines and is working to increase it to 10 MT, which will raise its total capacity to 64 MT by next year.

Stocks Picker Articles

03 Dec 2024 03:51

*Mazagon Dock:* Company announces a stock split. Existing ₹10 shares will be split into two ₹5 shares, with December 27, 2024, as the record date. (Neutral)

*Vistar Amar:* Company announced a ₹29.95 Cr rights issue of 25,60,000 equity shares at ₹117 each (including ₹107 premium). (Neutral)

*Zomato:* Company allotted 47,75,34,845 equity shares (₹1 each) to Foodie Bay Employees ESOP Trust (Neutral)

*Tata Elxsi:* Company will participate in Macquarie India Tech Spotlight Day on December 9, 2024. (Neutral)

*Gateway Distriparks:* Company launches new service to Kandla port. (Neutral)

*Manaksia Coated Metals:* Company plans to raise ₹134.55 crore via a preferential warrant issue. (Neutral)

*Aditya Birla Capital:* Company calls for a shareholder meeting on January 7, 2025, to approve the amalgamation of Aditya Birla Finance Ltd. (Neutral)

*AYM Syntex:* Company received BSE listing approval for 7767827 equity shares (₹10/- each, ₹172.50 premium) issued preferentially to promoters and non-promoters. (Neutral)

*PAR Drugs:* Company announced a slump sale of its establishment for ₹93Cr, representing 99.44% of its revenue. (Neutral)

*Trident Lifeline:* Company completed the acquisition of a 50.49% stake in TLL Parentrals Limited on December 2, 2024. (Neutral)

*Perfect Infra:* Company bagged large orders totaling ₹1.5 Crore from various clients including Navi Mumbai Municipal Corporation and TE Connectivity (Neutral)

*Bajaj Finserv:* Company ends co-branded card partnership with DBS Bank as company seeks to end co-branded partnerships for credit cards (Neutral)

*IKIO Lighting:* Company proposes name change to IKIO Technologies Limited (Neutral)

*HCL Tech:* Completed its acquisition of Hewlett Packard Enterprise's Communications Technology Group (CTG) assets. (Neutral)

*Health Insurance Stocks:* GoM proposes to exempt GST on health insurance premia for non-senior citizens up to a cover of ₹5 lk/annum (Neutral)

*Indegene:* Carlyle-backed CA Dawn Investments offers about 69 lakh shares or 2.9% stake in Indegene. (Neutral)

*SEAMEC:* SEAMEC International FZE's arrested by order issued by Fujairah Federal Court of First Instance. (Negative)

*Tobacco Products:* Government expected to raise GST rates to 35 percent from 28 percent on Tobacco and Tobacco products: CNBC Sources. (Negative)

*VBL:* Aerated Beverages GST also expected to rise to 35%: CNBC Sources (Negative)

Stocks Picker Articles

02 Dec 2024 04:30

*Forthcoming Event*

02nd December: Mayukh Dealtrade to consider Bonus issue; Agi Infra to consider Stock Split; Greenhitech Ventures, Gujarat Credit Corporation, India Finsec, Ironwood Education, Manaksia Coated Metals & Industries, Vistar Amar, White Organic Retail to consider Fund Raising

04th December: Aarey Drugs & Pharmaceuticals, Avro India, Eco Hotels & Resorts, Fusion Finance, Norben Tea & Exports to consider Fund Raising; GB Global to consider Scheme of Arrangement; Minolta Finance to consider Stock Split & Fund Raising

07th December: Autopal Industries to consider Reduction of Capital & Fund Raising

09th December: Shraddha Prime Projects to consider Bonus issue

11th December: Faalcon Concepts to consider Fund Raising

Stocks Picker Articles

02 Dec 2024 04:05

The company is also progressing with the establishment of an 1,800 metric tons per annum CCS facility in Dahej, scheduled for commercialization by FY26. *Positive on Sigachi Industries given the strong fundamentals and performance of the company.*

Stocks Picker Articles

10 Dec 2024 03:54

*Stocks in News*

*Vinati Organics:* Company invested Rs 39.65Cr in its wholly-owned subsidiary, Veeral Organics Pvt. Ltd., by subscribing to 3.96 Cr equity shares. (Positive)

*Astec LifeSciences:* Company receives open offer for 26% equity shares at Rs10/share from Godrej family & associates. (Positive)

*BEL:* Company secures additional orders worth Rs 634 crores, bringing the total orders for the current financial year to Rs 8,828 crores. (Positive)

*Railtel:* Company received work order from Haryana State Electronics Development Corp. for CAMC (Positive)

*JSW Steel:* Company reported consolidated crude steel production of 23.23 lakh tonnes for November 2024, a 5% YoY increase. (Positive)

*Bajaj Finserv:* Company bajaj allianz general insurance NOV gross direct premium underwritten at Rs.13.65 billion , Bajaj Allianz life insurance NOV total new business premium Rs. 6.59 billion. (Positive)

*GE Vernova T&D:* Company has received an order from Sterlite power worth Rs 4 Billion for supply and supervision of 765 KV power transformers & reactors for Khavda (Positive)

*Mason Infratech:* Company secured new orders worth Rs 50.61 crore from Equinox India Developments Ltd. for civil works. (Positive)

*Lemon Tree:* Company sign a new property in Mirik, West Bengal (Positive)

*Tata Motors:* Company will take price increase of up to 3% across its passenger vehicles portfolio, including EVS. Company to increase prices of its passenger vehicles from January, 2025. (Positive)

*Hardwyn India:* Company signed a 2-year MOU with Bhutan’s Gyalsung infra to supply Rs. 5 crore worth of architectural hardware and glass fittings for renovation and construction projects. (Positive)

*Pennar Industries:* Company to consider entering into JV to expand company’s business. (Positive)

*DCM Shriram:* Company invested Rs.57.12 crore in JSW Renew Energy Thirty Two Ltd. to secure 28% stake and ~68 MW renewable power supply, replacing 40MW coal power. (Positive)

*Bajaj Healthcare:* Company signed a CDMO contract with UK/EU companies for 15 new APIs, adding to the 15 molecules contracted on Feb 27, 2024. (Positive)

*Cellecor Gadgets:* Company has announced partnerships with TCI express, DTDC express, om logistics and express roadways pvt ltd to enhance its supply chain operation. (Positive)

*Metropolis Healthcare:* Company will acquire Core Diagnostics Pvt. Ltd. for Rs. 246.83 Cr. (Positive)

*ICICI Prudential Life Insurance:* NOV ape growth of 54.8% (YoY), NOV new business premium growth of 149.6% (YoY) (Positive)

*Tejas Network:* Vodafone Idea select company to scale its backhaul capacity for 4G and 5G rollouts. (Positive)

*IRB Infrastructure:* Company and IRB infrastructure trust report 23% (YoY) growth in the aggregate toll collection for November 2024, company says November 2024 toll collection is Rs. 536 Crs vs Rs. 437 Crs in November 2023. (Positive)

*Datamatics Global:* Lumina datamatics acquire controlling stake in Tnqtech (Neutral)

*Vodafone Idea:* Company board approves Rs 1,980 cr equity preferential issue. (Neutral)

*Ceigall India:* Company’s bank loans received credit rating from India Ratings & Research. Rs1800 million fund-based, Rs 700 million proposed fund-based, and Rs 5000 million non-fund-based working capital limits. (Neutral)

*Lupin:* LIC cuts stake in company by 2.027% to 2.542% from July 30 to December 6, 2024. (Neutral)

*Tiger Logistics:* Company announced a business growth plan with Rs 400 Cr fundraising via preferential share issue. (Neutral)

*EPL:* Company issued Rs 40 crore Commercial Papers (CP) on Dec 6, 2024, maturing Feb 10, 2025. (Neutral)

Stocks Picker Articles

09 Dec 2024 04:45

Corporate Actions

Dividend

13-Dec-24
CEENIK: Final Dividend - Rs. - 1.00

06-Dec-24
STYRENIX: Interim Dividend

IPO
Vishal Mega Mart: Open: 11-Dec-24; Close: 13-Dec-24
Sai Life Sciences: Open: 11-Dec-24; Close: 13-Dec-24
One Mobikwik Systems: Open: 11-Dec-24; Close: 13-Dec-24
Inventurus Knowledge Solutions: Open: 12-Dec-24; Close: 16-Dec-24

Buyback
---

Bonus
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24
Sky Gold: Bonus Issue 9:1; Ex-Date: 16-Dec-24
Rajeshwari Cans: Bonus Issue 1:1; Ex-Date: 19-Dec-24
Bharat Seats: Bonus Issue 1:1; Ex-Date: 20-Dec-24

Stock Split
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24
Global Education: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Shradha AI Tech: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 10-Dec-24
Shradha Infraprojects: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Exxaro Tiles: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Dec-24
PC Jeweller: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 16-Dec-24
Shish Industries: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 17-Dec-24
Mazagon Dock Shipbuilders: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 27-Dec-24

Right Issue
Quasar India: Ex-Date: 11-Dec-24
Avonmore Capital & Management Services: Ex-Date: 12-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Scanpoint Geomatics: Open: 05-Dec-24; Close: 13-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24
Gujarat Natural Resources: Open: 12-Dec-24; Close: 20-Dec-24
Viceroy Hotels: Open: 12-Dec-24; Close: 24-Dec-24
Enbee Trade & Finance: Open: 10-Dec-24; Close: 30-Dec-24
Quasar India: Open: 20-Dec-24; Close: 17-Jan-25

Open Offer
Astec Lifesciences: Open: 12-Dec-24; Close: 26-Dec-24

Stocks Picker Articles

09 Dec 2024 03:47

Stocks in actions

Rategain Travel Technologies :The Company is a Global B2B SAAS company providing innovative solutions to help clients in the hospitality and travel industry. It offers travel and hospitality solutions across a wide spectrum of verticals including large to mid size hotels, airlines, online travel agents (OTAs) , meta-search companies, vacation rentals, package providers, car rentals companies , rail, travel management companies, cruises and ferries. It is one of the largest aggregators of data points in the world for the hospitality and travel industry. The company is engaged in 3 segments: DAAS(Data as a service), Martech, & distribution services. Company reported phenomenal results for Q2 FY '25 Results with Revenue of ₹277.3 cr, up 18.1% YoY. EBITDA margin improved to 21.7%, a record high, reflecting operational excellence and strong margin expansion of 190 basis points. Profit After Tax (PAT) increased by 73.8% to ₹52.2 cr. The DAAS segment grew by 20.2%. YoY with key customer additions like Thai Airways. Distribution segment grew by 14.6% in Q2.Company was recognized as a strategic partner by Agoda and preferred partner by Trip.com, validating the quality of connectivity solutions. Martech Segment grew by 18.3% YoY. This segment witnessed Strong traction in paid digital marketing and social media engagement segments, particularly in North America. The organization is driving growth with a strong focus on AI integration, launching innovative features like Gen-AI summaries and revAI for demand forecasting. Product development continues with advancements in the RevMax platform and AI-powered solutions across functions. Management is confident in the pipeline, emphasizing improved sales execution, customer relationships, and disciplined M&A strategies to unlock sustainable growth. Positive on RateGain Travel Technologies given the strong fundamentals and performance of the company.

Punjab National Bank(PNB):PNBis a state run commercial bank headquartered in New Delhi. It offers a whole range of financial services-from credit and debit cards, bullion dealings, life and non-life insurance, gold coins selling, and asset management- to be defined by the term 'banking services'. The bank is a reputed one and is recognized for rendering customer satisfaction especially in cities like Delhi and Chennai. Financially, Punjab National Bank came out with strong numbers in Q2FY25. The gross business growth was 11.9% YoY at ₹25.20 trillion, mainly attributed to a significant growth in deposits and advances. The Net Interest Income (NII) increased by 6%, while net profit increased impressively by 145% YoY , indicating better operational efficiency and better profitability. The bank made good strides on asset quality, reducing its gross NPA ratio to 4.48% from 6.96% and remarkably reducing its net NPA ratio to only 0.46%. Recovery efforts outperformed slippages, with ₹4,891 crore collected out of technical write-offs. The capital position of PNB is robust with a total capital adequacy ratio of 16.36% and no immediate requirements to raise capital. Strategic initiatives, such as focus on digital banking, retail loans, etc., are encouraging CASA and RAM deposit growth. Management is on the growth momentum, with loan growth achieved for this quarter stood at 12.8%. Additionally the bank is expected to be one of the major beneficiaries in terms of the recent CRR rate cuts by RBI Bank. Positive on Punjab National Bank given the strong fundamentals and performance of the company.

Stocks Picker Articles

09 Dec 2024 03:25

*Stocks in News*

*Kernex Microsystems:* Company Bags Rs 2,041 Cr Order for Kavach Equipment. (Positive)

*JSW Energy:* Company’s unit JSW energy (Utkal) being the successful bidder for the Bartap coal mine in the state of Odisha with an estimated geological reserve of 1,600 MT,. (Positive)

*NLC India:* Company has been declared the successful bidder for the Patrapara South Coal Mine in Odisha (Positive)

*Laurus Labs:* Board approves investment of ₹40 crore in Laurus Bio (Positive)

*Welspun Corp:* Company bags 2 more orders in the US for HSAW pipes & supply of coated pipes, value of cumulative orders received by the US plant till Q3FY25 exceeds Rs 7,000 cr (Positive)

*Larsen & Toubro:* Company wins tribunal case, ₹702 crore customs demand quashed (Positive)

*CEAT:* Company to acquire Camso's off-highway tyre and tracks business from Michelin for $225 million (Positive)

*TVS Motor:* Company launched its next-gen TVS RT-XD4 engine platform. (Positive)

*Aster DM Healthcare:* Company announced a proposed merger with Quality Care India Ltd (Positive)

*Seamec:* Fujairah court lifted arrest order for vessel Seamec gallant (Positive)

*Bajaj Healthcare:* Company API manufacturing site situated at Vadodara has received approval from therapeutic goods administration (TGA), Australia. (Positive)

*VRL Logistics:* Company purchased its Bengaluru transhipment hub for Rs 15.72 crore annual lease savings (Positive)

*International Conveyors:* Company appointed Shri Yogesh Kajaria as Chairman & Managing Director for 3 years. (Positive)

*Biocon:* API facility (Site 2) in Bengaluru gets Voluntary Action Indicated (VAI) status. (Positive)

*RITES:* Company is the top bidder for a USD 9,713,470 engineering services contract from Guyana's Ministry of Public Works (Positive)

*Uno MInda:* Company’s 4W Lighting Plant At Khed, Pune Has Started Its Commercial Production (Positive)

*PNB Housing Finance:* Company issued Rs 280 Cr and Rs 300 Cr worth of non-convertible debentures via private placement. (Neutral)

*Paytm:* Company Board approves sale of Stock Acquisition Rights in PayPay. (Neutral)

*Wipro:* Company collaborated with SIAM. AI and NVIDIA to develop an AI-powered digital assistant (Neutral)

*Nureca Ltd:* Company acquired 460,000 Yes Bank shares for Rs 96.79 lakhs, exceeding materiality thresholds. (Neutral)

*Mahindra & Mahindra:* Company announces the incorporation of Target Hybren Private Limited. (Neutral)

*Delta Corp:* Company’s revised demerger plan splits its Hospitality & Real Estate business including the Dhargal Project into a separate listed entity. (Neutral)

*KSolves India:* Corporate credit rating reaffirmed as CRISIL BBB/Stable by Crisil Rating. (Neutral)

*Godrej Consumer:* Company Sees mid-single digit parent sales growth in Q3. (Neutral)

*Refex Renewables:* Company approved issuance of 105 NCDs worth Rs 10.5Cr via private placement to Northern Arc. (Neutral)

*Poonawalla Fincorp:* Mr. Dhiraj Saxena resigned from Company on Sep 6, 2024 (Neutral)

*Usha Martin:* Company’s subsidiary, Usha Martin Americas Inc., will acquire 2.02% stake in Usha Siam Steel Industries. (Neutral)

*Samvardhan Motherson:* CRISIL Ratings affirmed Motherson's Non-Convertible Debenture rating as CRISIL AAA/Stable for Rs 15000 Mn. (Neutral)

*Atul Auto:* Company’s credit ratings reaffirmed by CRISIL. Long-term rating remains CRISIL BBB+/Stable, short-term rating CRISIL A2. (Neutral)

*Alembic Pharma:* Company announces that six step-down subsidiaries had been dissolved or were in the process of dissolution. (Neutral)

*Inox Green:* Company divests entire stake in two wholly owned subsidiaries. (Neutral)

*Speciality Restaurants:* CRISIL reaffirmed long-term rating of CRISIL A-/Stable for Company bank facilities of Rs 4.90 crore. (Neutral)

*RailTel:* Company secured a Rs 13.34 crore order from South Central Railways for 4G LTE-R infrastructure in Secunderabad (Neutral)

Stocks Picker Articles

06 Dec 2024 04:03

*Fund Houses Recommendations*


GS on *Westlife:* Maintain Buy on Company, target price at Rs 1045/Sh (Positive)

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

JP Morgan on *ACC:* Maintain Overweight on Company, target price at Rs 3250/Sh (Positive)

JP Morgan on *Ultratech:* Maintain Overweight on Company, target price at Rs 13470/Sh (Positive)

JP Morgan on *Indus Tower:* Maintain Overweight on Company, target price at Rs 520/Sh (Positive)

Nuvama on *Zentec:* Maintain Buy on Company, target price at Rs 2000/Sh (Positive)

BofA on *Divis Lab:* Maintain Buy on Company, target price at Rs 6850/Sh (Positive)

Axis on *CUB:* Initiate Buy on Bank, target price at Rs 220/Sh (Positive)

MS on *India Strategy:* Overweight on Financials, Consumer, Industrials and Technology (Positive)

Nomura on *RBI Meet:* Maintain out-of-consensus call for 25 bps repo rate cut to 6.25% on December 6 (Positive)

Macquarie *India Strategy:* Key themes for 2025: Slowing growth momentum, earnings fatigue, and foreign fund outflows to test resilience of domestic liquidity. (Neutral)

Jefferies on *Pharma Sector:* Indian CRO/CDMO stocks have delivered strong returns in the last 6 months, see near-term triggers with US senate likely taking up biosecure act in its last session (Neutral)

HSBC on *Swiggy:* Initiate Hold on Company, target price at Rs 550/Sh (Neutral)

JP Morgan on *HDFC Bank:* Maintain Neutral on Company, target price at Rs 1750/Sh (Neutral)

UBS on *Bajaj Auto:* Maintain Sell on Company, target price at Rs 7900/Sh (Neutral)

Stocks Picker Articles

06 Dec 2024 03:26

*Stocks in News*

*GRSE:* Company signs contract for construction and delivery of 2nd ship from series of 4. (Positive)

*Waaree Energies:* Company secured a second NABL accreditation for its advanced PV module testing lab in Chikhli, Gujarat. (Positive)

*Dynamic Services:* Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive)

*Afcons Infrastructure:* Company achieves longest tunnelling drive for DMRC in Delhi Metro Phase 4. (Positive)

*Shriram Pistons:* Company renewed its 5-year Technical Collaboration Agreement with Fuji Oozx Inc., Japan. (Positive)

*PG Electroplast:* Company’s long-term rating upgraded to CRISIL A+. (Positive)

*NBCC:* Company wins ₹599.35 Cr work order from National Health Mission, Maharashtra (Positive)

*Abha Power:* Company secured a ₹6 crore order from Indian Railways. (Positive)

*Lemon Tree Hotels:* Company announced a new resort in Pavagadh, Gujarat, India. (Positive)

*Advait Energy:* Company received a domestic order from NRSS Transmission Ltd for Supply and Installation of 24 F OPGW for a 400 KV transmission line (Positive)

*Harsha Engineers:* Company signed a long-term agreement with a multinational bearing company to supply bearing cages. (Positive)

*Mehai Technology:* Company receives ₹16.24 Cr order from Leapfrog Engineering for equipment maintenance. (Positive)

*Electronics Mart:* Company opened a new Bajaj Electronics store (6,300 sq ft) in Vijayawada, Andhra Pradesh. (Positive)

*Canara Bank:* RBI approves for divesting its shareholding in Canara Robeco AMC & Canara HSBC Life Insurance Company by 13% and 14.5% respectively through IPO. (Positive)

*GPT Healthcare:* Company said it has entered into a MoU and Letter of Intent with Naveen Singh and other lessors to construct and finish a high-class hospital building in Jamshedpur. (Positive)

*RITES:* Company said it has been appointed as the Project Management Consultant for the development of the Phase II campus of the IIM Raipur. (Positive)

*Larsen & Toubro:* Company received a Rs 4.4 crore penalty notice from the Joint Commissioner, CGST & Central Excise, Jamshedpur. (Neutral)

*Kolte-Patil Developers:* Company to sell 17% stake in Kolte-Patil planet kiwale project, deal worth Rs 37.9 million (Neutral)

*Sylph Technologies:* Company board approved a rights issue to raise up to Rs 49 Cr. (Neutral)

*Zenith Drugs:* Company participated in the CPHI 2024 convention in Delhi NCR, connecting with over 3000 industry professionals. (Neutral)

*VSTL:* Company’s Odisha Unit III operational start delayed to end of January 2025 due to electricity connection delays. (Neutral)

*Canara Bank:* CRISIL reaffirmed Bank's debt instrument ratings. (Neutral)
*Maruti Suzuki:* Company informs that the NCLAT hearing on CCI matter, previously adjourned multiple times, has been further adjourned to February 7, 2025. (Neutral)

*UniHealth Hospitals:* Company approved ₹10,00,00,000 additional capital contribution to its subsidiary, UMC Hospitals Pvt. Ltd., through a rights issue of 74,48,000 shares at ₹10 each. (Neutral)

*ABFRL:* Company received a GST order from Chennai's Assistant Commissioner, Kotturpuram Assessment Circle, and demanding Rs 2.45 Cr (Neutral)

*L&T:* Company issued Rs 1,500 crore worth of 7.19% Non-Convertible Debentures. (Neutral)

*Ola Electric:* Company received further communication from CCPA on Dec 4, 2024, requesting additional documents within 15 days. (Neutral)

*Welspun Living:* Company Ltd announced the approved amalgamation of its wholly-owned subsidiaries: Welspun Home Solutions Ltd and Welspun Advanced Materials. (Neutral)

*GAIL:* Company’s CSR initiative launched 2 Mobile Medical Units and an advanced life support ambulance to AIIMS. (Neutral)

Stocks Picker Articles

05 Dec 2024 03:29

*ICICI Bank:* Offices searched by Maharashtra GST authorities. (Neutral)

*Vodafone Idea:* Board to meet on December 9 to discuss Rs 2,000 crore fund raise. (Neutral)

*Bharat Forge/RK Forge:* North America Class 8 Truck Orders Down 9% YoY & Up 18% MoM. (Neutral)

*Genus Power:* Company’s corporate office and chairman's residence were searched by the Directorate of Enforcement (Negative)

Stocks Picker Articles

04 Dec 2024 04:23

*Forthcoming Event*

04th December: Aarey Drugs & Pharmaceuticals, Avro India, Eco Hotels & Resorts, Fusion Finance, Norben Tea & Exports to consider Fund Raising; GB Global to consider Scheme of Arrangement; Minolta Finance to consider Stock Split & Fund Raising

05th December: Muthoot Capital Service, Sical Logistics, Sudarshan Chemical Industries to consider Fund Raising

06th December: Avonmore Capital & Management Services, Bang Overseas to consider Fund Raising

07th December: Autopal Industries to consider Reduction of Capital & Fund Raising

09th December: Shraddha Prime Projects to consider Bonus issue; Sustainable Energy Infra Trust to consider Fund Raising; Indo Borax & Chemicals to consider Voluntary Delisting

10th December: Vipul to consider Fund Raising

11th December: Faalcon Concepts, Veranda Learning Solutions to consider Fund Raising

Stocks Picker Articles

04 Dec 2024 03:54

*Stocks in Action*

*LEMON TREE HOTELS*: Lemon Tree Hotels Ltd operates in both the upscale segment and the mid-priced sector, which includes the upper-midscale, midscale, and economy segments. It is the third-largest overall hotel chain in India. Lemon Tree recorded its highest-ever second-quarter revenue this year. At Rs. 284.8 crores, its revenue grew 24% compared to Q2 last year, while net EBITDA grew 25% YoY to Rs. 131 crores, resulting in a net EBITDA margin of 46.1%, which increased by 53 bps YoY. The company's PAT was Rs. 35 crores, a growth of 33% YoY. Cash profit for the company stood at Rs. 69.8 crores in Q2FY25, an increase of 43% YoY. Q2FY25 recorded a gross ARR of Rs. 5,902, which increased by 12% YoY. The occupancy for the quarter stood at 68.4%, a decrease of 328 bps YoY. This resulted in a RevPAR of Rs. 4,035, which increased by 7% YoY. Demand growth is expected to exceed supply growth in the next few years, accompanied by structural tailwinds in the discretionary consumption of branded hotel rooms that India is now beginning to experience. Its increased investment and renovation efforts will allow the company to better position its hotels going forward, enabling it to capture better pricing and position Lemon Tree as the preferred brand of choice in the mid-market segment. During the quarter, it signed 19 new management and franchise contracts, adding 1,373 new rooms to its pipeline, and operationalized 5 hotels, adding 193 rooms to its portfolio. As of 30th September 2024, the company's inventory includes 112 operational hotels with 10,318 rooms, along with a pipeline of 75 hotels featuring 5,220 rooms. The company's ability to sustain this growth in the coming quarters will depend on focusing on the following growth levers: the stabilization of Aurika MIAL (which is already EBITDA-accretive), accelerated growth in its management and franchise portfolio with a proportional increase in fee-based income, and the timely completion of renovation activities in its owned portfolio to further improve gross ARRs and occupancy. *Positive on Lemon Tree Hotels given the strong fundamentals and performance of the company*.

*GLAND PHARMA*: Gland Pharma operates primarily under a B2B model and has an excellent track record in the development, manufacturing, and marketing of complex injectables. It had a strong first half of 2025 and is on course to achieve its goals for the full year. This quarter, it reported Rs. 14,058 million in revenue and Rs. 2,961 million in EBITDA, representing a 21% EBITDA margin. Although its overall EBITDA margin was affected by Cenexi, its base business maintained a steady 34% EBITDA margin. Base business (excluding Cenexi) revenue grew 5% year-over-year to INR 10,659 million, driven by volume growth in key injectables and new product launches compared to Q2FY24. R&D expenses were Rs. 493 million, which is 4.6% of its revenue. Total Capex incurred during the quarter ending September 30th, 2024, was INR 1,037 million. Its core regulated markets, particularly the United States, continue to perform well. Looking ahead, the company remains focused on its strategic priorities, which include entering new markets and building a solid foundation for future growth. The USA contributed 54% to the revenue, Europe contributed 17%, Other Core Markets (Canada, Australia, and New Zealand) contributed 4%, and the Rest of the World contributed 16% to the revenue. The Indian market contributed 8% to the revenue. The company filed 7 ANDAs and received approval for 8 ANDAs. Total filings in the U.S. stand at 363 ANDAs (304 approved, 59 pending). Global product registrations total 1,726. Four molecules, including Cetrorelix Acetate, Ephedrine Sulfate, Tranexamic Acid, and Diazepam, were launched in the U.S. market. Four of the nine products planned for the Chinese market are currently under development, and five have received approvals. Nine filings were completed in a targeted portfolio of 19 products for complex injectables.

Stocks Picker Articles

04 Dec 2024 03:53

*Stocks in News*

*Defence Stocks:* DAC approves 5 capital acquisition proposals worth ₹21,772 crore to augment defence preparedness (Positive)

*RVNL:* Company has received a contract from east central railway for upgrading the electric traction system in the Gomoh-Patratu section, valued at Rs 186.77 crore. (Positive)

*VL Infraprojects:* Company secured a ₹15.24 crore work order from Mayfair Supreme Private Limited (Positive)

*Nitiraj Engineers:* Company authorized as Drone-Remote Pilot Training Organization (RPTO) by DGCA. (Positive)

*Artson:* Company has taken additional premises adjacent to its existing Nashik facility (Positive)
*Rappid Valves:* Company received ₹403.90 lakh in purchase orders from various companies for industrial valve supply. (Positive)

*Wipro:* Company partners with Netskope to offer cybersecurity optimisation advisory services (Positive)

*Steelman Telecom:* Company receives Rs 147 crore contract from Reliance Jio for maintaining indoor small cell and Wi-Fi networks for three years. (Positive)

*Adani Wilmar/Patanjali:* India’s November edible oil imports rise 12% m/m to 1.6 million metric tons, highest in four months. (Positive)

*Kaynes:* Company acquires a 54% stake in Sensonic GmbH. (Positive)

*R Power:* Solar Energy Corporation lifts Reliance Power debarment notice (Positive)

*SPML Infra:* credit rating assigned by ICRA for Rs 477 Cr long-term fund-based term loan rated ICRA BBB-(Stable). (Neutral)

*Swiggy:* Company's INSTAMART business is witnessing heightened degree of competitive action, INSTAMART aims to more than double active dark store area YoY, to 4 MN SQ ft by March-25 (Neutral)

*Mphasis:* Company received the 2024 AWS Partner Award for Industry Partner of the Year in Travel and Hospitality (Global). (Neutral)

*Aditya Birla Capital:* Company invested Rs 300 Cr in its wholly-owned subsidiary, Aditya Birla Housing Finance Ltd, through a rights issue. (Neutral)

*ONGC:* Company increased its stake in subsidiary OPAL from 94.57% to 95.69% by acquiring shares worth Rs 4,906.20 crore. (Neutral)

*IEX:* Traded 9,689 MU electricity in Nov'24, a 15.7% YoY rise. DAM price was Rs 3.30/unit, down 17.3% YoY. RTM volume increased by 28% YoY to 3,019 MU. (Neutral)
*M&M:* Company in talks with IndiGo to find an amicable solution. (Neutral)

*Heranba Industries:* Company announced the resignation of Mr. Ajit Singh Gujral, Head of Strategic Development for Crop Protection (Neutral)

*Hikal:* Company announced the resignation of Mr. Ketan Karkhanis (Asst. VP-IT) and Mr. Rakesh Ganorkar (VP-R&T-Pharma CDMO) (Neutral)

*Wonderla:* QIP opens, approves floor price for issue at Rs 829.74/ share. (Neutral)

*PB Fintech:* Board Approves Incorporation Of Wholly-owned Subsidiary-PB Healthcare. (Neutral)

*Honasa Consumer:* Promoter Varun Alagh raises stake to 31.93% with ₹4.5-crore investment (Neutral)

*3i Infotech:* Company’s Saudi subsidiary faces Rs 25.73 Cr tax issue (Negative)

*Epack:* Bhiwadi facility was searched by Jaipur Customs on Dec 2, 2024. (Negative)

*Chavda Infra:* Company's registered office and promoters' residences underwent an Income Tax Department search (Negative)

Stocks Picker Articles

03 Dec 2024 04:26

*Corporate Actions*

Agi Infra has approved Sub-division/ split of each equity share having a face value of Rs. 10/- each, into 2 equity shares having a face value of Rs. 5/- each, subject to approval of the shareholders of the Company through postal ballot process.

Mayukh Dealtrade has approved bonus shares in the proportion of 3:5 i.e., Three (3) new equity share for every Five (5) existing equity share held.

*Dividend*

*03-Dec-24*
INDOUS: Interim Dividend - Rs. - 0.25

*04-Dec-24*
CANFINHOME: Interim Dividend - Rs. - 6.00

*06-Dec-24*
PHOENIXTN: Interim Dividend - Rs. - 0.10

*13-Dec-24*
CEENIK: Final Dividend - Rs. - 1.00


*IPO*
Suraksha Diagnostic: Open: 29-Nov-24; Close: 03-Dec-24
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Consecutive Investments: Bonus Issue 1:1; Ex-Date: 06-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Consecutive Investments: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Eraaya Lifespaces: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24
Global Education: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Shradha AI Tech: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 10-Dec-24
Shradha Infraprojects: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Exxaro Tiles: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Dec-24
PC Jeweller: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 16-Dec-24

*Right Issue*
Gujarat Natural Resources: Ex-Date: 03-Dec-24
Moongipa Capital Finance: Ex-Date: 03-Dec-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Scanpoint Geomatics: Open: 05-Dec-24; Close: 13-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24
Gujarat Natural Resources: Open: 12-Dec-24; Close: 20-Dec-24
Viceroy Hotels: Open: 12-Dec-24; Close: 24-Dec-24
Enbee Trade & Finance: Open: 10-Dec-24; Close: 30-Dec-24

*Spin Off*
Strides Pharma Science: Ex-Date: 06-Dec-24

Stocks Picker Articles

03 Dec 2024 03:52

*Fund Houses Recommendations*


BofA on *JSW Steel:* Maintain Buy on Company, target price at Rs 1090/Sh (Positive)

JP Morgan on *KPIT Tech:* Maintain Overweight on Company, target price at Rs 1900/Sh (Positive)

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

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

Nuvama on *Gujarat Fluoro:* Maintain Buy on Company, target price at Rs 4790/Sh (Positive)

HSBC on *Aster DM:* Maintain Buy on Company, target price at Rs 550/Sh (Positive)

HSBC on *Indigo:* Maintain Buy on Company, target price at Rs 4940/Sh (Positive)

HSBC on *Axis Bank:* Maintain Buy on Bank, target price at Rs 1350/Sh (Positive)

MS on *Energy stocks:* CNG price hike follows its other peers in increasing prices for natural gas used for vehicles, prefer GAIL and Reliance (Positive)

BofA on *Financials:* Axis Bank, ICICI Bank, Bank Baroda nad Union Bank are top picks (Positive)

MS on *Financials:* RBI removes restrictions on Navi Finserv; removal of restrictions happened in about one and half months (Neutral)

HSBC on *Autos:* PV retail fell on the back of shift in festive season, 2-wheeler retails maintained momentum and grew by 16% (Neutral)

Jefferies on *Global Health:* Maintain Buy on Company, target price at Rs 1170/Sh (Neutral)

BofA on *Vedanta:* Maintain Neutral on Company, target price at Rs 470/Sh (Neutral)

MS on *GujGas:* Maintain Overweight on Company, target price at Rs 614/Sh (Neutral)

Stocks Picker Articles

03 Dec 2024 03:51

*Stocks in News*


*Indoco Remedies:* Company collaborates with UK-based Clarity Pharma, to launch around 20 products over the next 18 months through Clarity Pharma (Positive)

*Pricol:* Company announces Strategic Acquisition of Sundaram Auto Components Limited’s Injection Moulding Business for all-cash deal for an amount of Rs.215.3cr. (Positive)

*Protean eGov Tech:* Company bags order worth ₹161 crore from Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) (Positive)

*BPCL/Coal India:* BPCL signs MoU with Coal India for setting up a coal to synthetic natural gas project at Western coalfields through surface coal gasification. (Positive)

*Snowman:* Gateway Distriparks Ltd. acquired 478557 shares (0.29%) of Snowman Logistics Ltd. (Positive)

*Paramount Communications:* ICRA has upgraded the assigned long-term ratings to the unallocated bank limits of the Company from [ICRA] BBB-(Stable) to [ICRA] BBB (Stable). (Positive)

*Chambal Fertilizers:* Company partners with TERI to establish center of excellence for advanced & sustainable agriculture solutions (Positive)

*Waaree Energy:* Company has received new orders for supply of modules. (Positive)

*Ceinsys Tech:* Company received Letter of Award amounting to Rs.331.61 Crores for Appointment of System Integrators (SI’s) for IoT Deployment. (Positive)

*Allied Blenders:* Company is expecting a 40% volume growth from its premium segment in second half of the financial year. (Positive)

*Tata Consumer:* Company plans to open 1,000 Starbucks cafes in India by FY28, says MD and CEO Sunil D'souza. (Positive)

*Advait Infratech:* Advait Energy Transitions has been selected by Gujarat Urja Vikas Nigam as a qualified bidder for a 50MW portion of a 500MW battery energy storage project in Gujarat (Positive)

*Popular Vehicles:* Company received approval to establish a new NEXA workshop in Kerala, featuring 4 service and 5 bodyshop bays. (Positive)

*Godavari Biorefineries:* Company signed an exclusive license agreement with Catalyxx Inc. to produce up to 30,000 tons of biobutanol annually. (Positive)

*Sterling Tools:* Company signed a technical collaboration agreement with Zhejiang Meishuo Electric Technology Co, Ltd., China. (Positive)

*Solar Ind:* Company received export orders worth INR 2039 Crores for Supply of Defence Products, to be delivered over a period of 4 years. (Positive)
*E2E Networks:* Company has entered into an arrangement with Larsen & Toubro Limited for capacity expansion for its data center facilities. (Positive)

*KPI Green:* Company bags order worth ₹1,311 cr from Coal India (Positive)

*MOIL:* Company reported record production (1.63 lakh tonnes) and sales (1.33 lakh tonnes) of Manganese Ore in November 2024. (Positive)

*Steel Stocks:* Steel Ministry proposes 25% safeguard duty on steel imports: NDTV. (Positive)

*Syngene:* Sibaji Biswas resigns as ED & CFO of the Co w.e.f. November 30, 2024. (Neutral)

*Torrent Power:* Company opens QIP, sets floor price at ₹1,555.75/sh (Neutral)

*Nazara:* Company announces five investments totalling INR 196 Crores to drive growth across Gaming and Entertainment (Neutral)

*AGI Infra:* Company approved Sub division/split of each equity share have face of Rs.10 into 2 equity shares having face value of Rs.5 each fully paid up shares. (Neutral)

*Muthoot Capital:* Company to consider issuance of NCDs of up to ₹90 cr on private placement basis on December 5. (Neutral)

*Wipro:* Shares will trade ex-bonus today with ratio 1:1. (Neutral)

*KEC Int:* Bangladesh Tax Tribunal dismisses company’s appeal against VAT demand (Neutral)

*Hindalco:* Company received a ₹17.99 cr penalty from the Office of the Commissioner of Central Goods and Services Tax, Jabalpur (Neutral)

*Hindustan Unilever:* Company made a partial payment of ₹192.55 Cr (20% of ₹962.75 Cr demand) to the Income Tax authorities. (Neutral)

Stocks Picker Articles

02 Dec 2024 04:30

*Corporate Actions*

*Dividend*

*03-Dec-24*
INDOUS: Interim Dividend - Rs. - 0.25

*04-Dec-24*
CANFINHOME: Interim Dividend - Rs. - 6.00

*06-Dec-24*
PHOENIXTN: Interim Dividend - Rs. - 0.10

*13-Dec-24*
CEENIK: Final Dividend - Rs. - 1.00


*IPO*
Suraksha Diagnostic: Open: 29-Nov-24; Close: 03-Dec-24
Property Share Investment Trust: Open: 02-Dec-24; Close: 04-Dec-24

*Buyback*
---

*Bonus*
Rajoo Engineers: Bonus Issue 1:3; Ex-Date: 02-Dec-24
Wipro: Bonus Issue 1:1; Ex-Date: 03-Dec-24
Consecutive Investments: Bonus Issue 1:1; Ex-Date: 06-Dec-24
Achyut Healthcare: Bonus Issue 4:10; Ex-Date: 10-Dec-24

*Stock Split*
Diamond Power Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 03-Dec-24
Tara Chand InfraLogistic: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 05-Dec-24
Consecutive Investments: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Eraaya Lifespaces: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 06-Dec-24
Achyut Healthcare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 10-Dec-24
Global Education: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Shradha AI Tech: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 10-Dec-24
Shradha Infraprojects: Stock Split From Rs. 5/- to Rs. 2/-; Ex-Date: 10-Dec-24
Exxaro Tiles: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 13-Dec-24
PC Jeweller: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 16-Dec-24

*Right Issue*
Gujarat Natural Resources: Ex-Date: 03-Dec-24
Moongipa Capital Finance: Ex-Date: 03-Dec-24
Mercury Trade Links: Open: 07-Nov-24; Close: 05-Dec-24
Shangar Decor: Open: 08-Nov-24; Close: 06-Dec-24
Diligent Industries: Open: 11-Nov-24; Close: 09-Dec-24
Scanpoint Geomatics: Open: 05-Dec-24; Close: 13-Dec-24
Pradhin: Open: 25-Nov-24; Close: 16-Dec-24
UPL: Open: 05-Dec-24; Close: 17-Dec-24
NHC Foods: Open: 05-Dec-24; Close: 18-Dec-24
Gujarat Natural Resources: Open: 12-Dec-24; Close: 20-Dec-24
Viceroy Hotels: Open: 12-Dec-24; Close: 24-Dec-24
Enbee Trade & Finance: Open: 10-Dec-24; Close: 30-Dec-24

*Spin Off*
Strides Pharma Science: Ex-Date: 06-Dec-24

Stocks Picker Articles

02 Dec 2024 04:05

*Stock in Action*

*DIVIS LABORATORIES:* Divis Laboratories Ltd manufactures and exports APIs, intermediates, and nutraceutical ingredients. In Q2FY25, the company reported revenue from operations of Rs. 2,338 crores, a growth of 22.5% YoY. EBITDA was Rs. 716 crores, a growth of approximately 50% YoY. Net profit was Rs. 510 crores, a growth of 47% YoY. For H1FY25, it earned a consolidated total income of Rs. 4,640 crores, a growth of 20% YoY. Net profit was Rs. 940 crores, a growth of 34% YoY. Exports for H1 accounted for about 87% of the total sales revenue, with exports to Europe and the United States combined making up 71% of the total sales revenue. The product mix for generics and custom synthesis for H1 is 49% and 51%, respectively. Its constant currency growth for H1 was 21%. The nutraceutical business amounted to Rs. 406 crores for this period. As of September 30, 2024, the company had capital work-in-progress of Rs. 1,316 crores, of which the Kakinada project accounted for Rs. 1,006 crores. The total amount spent on the Kakinada project by September 30, 2024, was Rs. 1,181 crores. As of that date, the company had cash on hand of Rs. 3,602 crores, receivables of Rs. 2,181 crores, and inventories of Rs. 3,145 crores. Its strategy to diversify across portfolios is yielding favorable results, and the impact of its previous investments and expansions is becoming clear. It is not only expanding its market presence but also reinforcing its reputation as a trusted partner in complex and high-value green chemistry. The company has established infrastructure dedicated to Solid Phase Peptide Synthesis (SPPS) and is currently operating multiple 500-litre reactors. With demand continuing to rise, it is expanding its Solid Phase Peptide Synthesis facilities further. In Q2, the company successfully concluded a USFDA inspection at its Unit-II facility in Visakhapatnam. *Positive on Divis Laboratories given the strong fundamentals and performance of the company.*

*SIGACHI INDUSTRIES:* Sigachi Industries Ltd. (SIL) is one of the largest manufacturers of Microcrystalline Cellulose (MCC) worldwide. It is the leading manufacturer of pre-formulation excipients and MCC, with leadership in MCC production. The company delivered a strong Q2FY25 performance with solid growth across key metrics. Operating income rose by 25.91% YoY, reaching Rs. 124.9 crores. EBITDA also saw significant growth, increasing by 36.91% YoY to Rs. 29 crores, with a margin of 21.38%. Net profit surged by 39.09% YoY to Rs. 21 crores. Building on last year's momentum, revenue from MCC increased by 15.35% YoY to Rs. 172.69 crores. Revenue from the O&M segment in Q2FY25 grew by 21.08%, reaching Rs. 10.51 crores. The API segment contributed Rs. 8.25 crores to revenue in Q2FY25. Sigachi has shown notable growth, with its core product MCC achieving a substantial increase in both volumes and value. This growth stems from strong demand and improved utilization of its 7,000 metric tons per annum capacity, which is currently operating at 75% utilization of the total installed capacity. Its asset-light O&M segment continues to expand in alignment with its strategic focus. Its API unit, acquired last year, has successfully integrated into its operations. It currently operates at a 100 KL capacity, with plans to scale up to 250 KL. In the API segment, the company is focusing on high-margin regulated markets, with 9 planned CEP approvals. Several additional filings are underway in the EU and EDQM markets. Its target is to complete 9 CEP filings in this financial year, enabling access to high-margin markets to drive both top-line growth and profitability. A key advancement this quarter is its entry into pharmaceutical coatings with the introduction of the PureCoat and UltraMod brands. These products are specifically designed to enhance drug stability and bioavailability, aligning with the rigorous standards of modern drug delivery.