Indian Stock News Channel

19 Dec 2024 07:12

FIVE STAR : Wasatch Advisors Buys Additional 0.3 % Stake On 17 Dec Via Open Market

Stake Increase To 5.14 % From 4.84 %

Indian Stock News Channel

19 Dec 2024 07:04

Shriram Finance In Focus - Positive Commentary from Citi Conference

Expects to sustain 17% AUM growth for FY25

Growth in two-wheeler and SME segments to outpace with 30% YOY

Gold loans and PV growth at >20% YoY

Fall in CE by 20-30bps in Q3 seems more transient in nature and is hopeful to pull it back in Dec

Fleet occupancy level has dropped in Nov.; Freight rates YTD are up 1%, and operator profitability is intact

CoFs and NIMs are expected to be broadly stable in H2

Leveraging the merger synergies with overall cross-sell at 50-55%

Indian Stock News Channel

19 Dec 2024 06:56

CITI on Shriram Finance

BUY, TP Rs3600

Key takeaways:

Despite a slowdown in the CV segment (~45% of AUM) due to lack of availability of used vehicles in 5-10 years vintage, it expects to sustain 17% AUM growth for FY25. Growth in two-wheeler and SME segments (~20% of the book) to outpace with 30% yoy, followed by gold loans and PV growth at >20% yoy.

Fall in CE by 20-30bps in 3Q seems more transient in nature and is hopeful to pull it back in Dec. Fleet occupancy level has dropped in Nov. Freight rates YTD are up 1%, and operator profitability is intact.

CoFs and NIMs are expected to be broadly stable in 2H.

Leveraging the merger synergies with overall cross-sell at 50-55%.

Spending on local advertising, marketing, and other volume-led expenses will keep opex elevated over the medium-term.

Indian Stock News Channel

19 Dec 2024 06:48

VERANDA LEARNING: Veranda XL partners with SRMIST to offer CA coaching classes on campus

To Offer CA Coaching Classes Through JK Shah Classes

Indian Stock News Channel

19 Dec 2024 06:40

Avendus on Brainbees (FirstCry )
initiate ADD, TP Rs 675

In childcare products category, large TAM/huge untapped potential offer growth visibility

Strong overseas growth through extending India playbook and building capabilities−GlobalBees' scope in India is yet to be seen

Indian Stock News Channel

19 Dec 2024 06:33

JEFFERIES ON SMALL AND MIDCAP STOCKS

Post sharp rally in 2023, Small and Midcap outperformed Largecaps in 2024 as well

NSE Midcap is now trading at a +24% premium to its 5-year avg vs +6% for NIFTY

This can be driven by higher EPS growth expectations

FY24-26 NSE Midcap EPS is est at +20% CAGR vs +12% for NIFTY

Suggest staying selective in 2025 with a bottom-up approach

Est EPS CAGR >=35% - have BUY rating on Amber, Nykaa, Coforge, Entero, Bharati Hexacom and Sunteck

Est ROE Expansion of >=500bps - have BUY rating on Colgate, Jubilant Food, Voltas, Delhivery, Nippon Life AMC, Thermax, SYRMA

Trading at a >40% discount to their hist 5-Y avg PE - have BUY rating on Allcargo Logistics, Newgen, HEG, KEI, IDFC First, Bandhan

Indian Stock News Channel

19 Dec 2024 06:27

JPMORGAN ON SWIGGY

Initiate Overweight with target price of Rs 730

The dark horse of India local services

See Swiggy catching up across both FD and QC thanks to a renewed focus and improved execution

Also see it hitting critical scale across both core businesses, enabling a faster-than-peer expansion in profitability over FY25E-28

Swiggy trades at a 32-42% discount to Zomato that appears overly pessimistic to us

See Swiggy emerging as an underappreciated winner in the India local services ecosystem

Indian Stock News Channel

19 Dec 2024 06:15

ADANI POWER ; Bangladesh's interim government accuses Adani Power of breaching a multi-billion-dollar deal, citing unshared tax benefits and excessive tariffs, as it pushes to renegotiate the 2017 agreement. - Reuters

Indian Stock News Channel

19 Dec 2024 06:09

JSWInfra aims to #expand its cargo-handling capacity to 400 mtpa by #FY30

▶️Capex estimated around ₹30,000 cr over FY25-30

Share of third-party cargo increased from 5% in FY19 to 48% in H1FY25

Indian Stock News Channel

17 Dec 2024 14:19

MERCURY EV ; Company has decided to incorporate a new subsidiary, "GLOBAL MERCURY CONTAINER PRIVATE LIMITED," with approval from the Ministry of Corporate Affairs.

The company will invest in 60,000 shares (60% stake) at Rs. 10 each, totaling Rs. 6,00,000.

The main object of the proposed company will be Manufacturing & dealing of containers, ISO shipping containers, top cover mechanism for containers, skeleton containers and special purpose containers.

Indian Stock News Channel

17 Dec 2024 14:13

AUROBINDO PHARMA; The US FDA inspected Apitoria Pharma's Unit-V in Telangana from December 9-17, 2024, and issued two procedural observations, which will be addressed within the required timeframe.

Indian Stock News Channel

17 Dec 2024 14:07

AMBUJA CEMENT; Board approved two Schemes of Arrangement

Between Sanghi Industries Limited ("Transferor") and Ambuja Cements Limited ("Transferee").

Between Penna Cement Industries Limited ("Transferor") and Ambuja Cements Limited

Indian Stock News Channel

17 Dec 2024 14:02

LIBERTY : PROMOTER SOLD 0.01 % STAKE TODAY VIA OPEN MARKET

Indian Stock News Channel

17 Dec 2024 13:32

Ambuja Cement: Board approves merger between Sanghi Industries, Penna Cement Industries & the Company.

Merger is subject to necessary statutory & regulatory approvals, including approval of NCLT

Indian Stock News Channel

17 Dec 2024 13:03

RMC SWITCHGEAR; Board Approved the proposal to migrate the listing/trading of the Company's equity shares from the BSE SME Platform to the Main Board of BSE and to list the shares on the Main Board of NSE.

Indian Stock News Channel

19 Dec 2024 07:07

POSITIVE READ THROUGH FOR VOLTAS*
CLSA notes - Peer DAIKIN management earlier raised its INDIA FY3/26 India sales target to ¥200bn, from ¥175bn, thanks to strong demand growth
_AC demand stays strong even in seasonally weak quarter_

Indian Stock News Channel

19 Dec 2024 07:02

This acquisition strengthens NODWIN Gaming’s esports related content production & distribution, and marketing & PR services capabilities. These capabilities will enhance NODWIN Gaming’s offerings to brands and publishers, making it a strong one-stop-shop for all esports & gaming related marketing activities and thereby increasing the share of wallet of marketing budgets for NODWIN Gaming

Indian Stock News Channel

19 Dec 2024 06:52

CITI on KotakBankLtd
Neutral
TP Rs1940

Key takeaways:

[1] Credit card absolute flow rates plateaued (not declining yet). PL exhibiting improvement in delinquency trends giving confidence to push disbursements.

MFI to take a couple of quarters to stabilize. No stress evident in SME. Retail CV or LCV witnessed some enhanced stress. Tractor portfolio behaviour is stable.

[2] Reiterates stance to scale-up unsecured and targets credit growth at 1.5-2.0x nominal GDP growth.

[3] Volatility in NIMs may continue.
On regulatory restrictions – Regulator wanted the bank to build capacity as the transaction volumes had spiked.

The company is launching a new mobile platform Embark next year, and it continues to invest in technology.

It continues to guide for the potential impact to be in-line with its initial estimate.

Along with constant interaction and updates to the regulator, external auditor is also engaged in validating items actioned upon by the bank.

Indian Stock News Channel

19 Dec 2024 06:47

MTNL ; CARE Ratings upgrades MTNL's bonds to CARE AAA with a 'Stable' outlook, citing timely government fund infusion and effective escrow management.

Indian Stock News Channel

19 Dec 2024 06:35

UBS ON AUTO

December industry retails on track to post decline led by Hero and Bajaj

TVS and Honda gain big on y-o-y and m- o-m market share; Hero loses the most

Looking at the mid-month data on Vahan we expect the industry to post 7-9% y-o-y decline in retails for the month

Hero MotoCorp and Bajaj Auto clocking 15% retail decline

TVS Motor and Eicher Motors (Royal- Enfield) are on track to post growth as seen from the Vahan retail trends

EVs continue to gain traction even as the market leaders continue to see significant volume erosion

These trends seen along with gains for Honda Motorcycles and Scooters India (Honda) points to significant customer shift away from commuter motorcycles towards scooters, premium and Evs

Indian Stock News Channel

19 Dec 2024 06:28

MORGAN STANLEY ON NON-LIFE INSURANCE

There was an accounting change for long- term policies effective October 1, 2024

Growth rates are not comparable across segments on a YoY basis

Motor OD GDPI was flat YoY in Nov-24; Private sector reported a 1% dip as HDFC Ergo declined 50% YoY, Go Digit dipped 1%, while ICICI Lombard was flat YoY

Motor TP GDPI was up 7% YoY in 40009 Private sector grew 5% while public grew 10%

Retail health GDPI rose 8% YoY in Nov-24; SAHIs reported 11% growth while private and public sector grew 3%

Indian Stock News Channel

19 Dec 2024 06:22

NOMURA ON DR REDDY'S

UPGRADE TO BUY , TARGET 1500

Relative Underperformance Suggests Concern On High Contribution Of Revlimid Is Priced In

In H1FY25 Large Part Of Growth Was Due To Initiatives, Including Clinical Trials For Biosimilars

Co Has Also Stepped Up Investments In Manufacturing Infrastructure

Capex Has More Than Doubled In FY25

Upside From GLP-1, Biosimilars Are Not Fully Factored Into FY27 Estimates

Indian Stock News Channel

19 Dec 2024 06:10

MOTILAL OSWAL ON MTAR TECH

BUY, TARGET 2100

Co Derives Majority Of Its Revenue From Clean Energy Segments

Most Of Co's Revenue Comes From Bloom Energy

Transitory Impact Of Bloom Energy's Product Changes Is Over Now

Expect Co To Report Strong Growth In Near Term In Clean Energy Segment

Indian Stock News Channel

17 Dec 2024 14:22

ALKEM LAB ; CO and Enzene Biosciences have agreed to invest 26% equity in Sunsure SolarPark for renewable energy generation, amounting to Rs. 1.95 crore.

Indian Stock News Channel

17 Dec 2024 14:17

POPULAR VEHICLES: Mr. Biju Jose Thomas, CEO of Vision Motors Pvt. Ltd., has resigned effective January 18, 2025, due to personal reasons.

Indian Stock News Channel

17 Dec 2024 14:12

GUJARAT IND ; Board Approved Businesses 👇

Award of EPC Contract for Balance of System (BoS) Package for Implementation of 500 MW(AC) Solar PV Project at Khavda, Great Rann of Kutch area, Gujarat;

Debt Syndication for availing Term Loan for 500 MW Solar Power Project (Phase -II) at Khavda, Kutch

Debt Syndication for availing Term Loan for 75 MW Solar Power Project at Vastan

Indian Stock News Channel

17 Dec 2024 14:05

SUN TV ; The National Company Law Tribunal (NCLT) Division Bench (Court-I) in Chennai approved the Composite Scheme of Arrangement for the amalgamation of South Asia FM Limited with its joint ventures/associate companies

Indian Stock News Channel

17 Dec 2024 14:02

SPICEJET: Spicejet admits to removing parts from airframes of TWCAviation, claims removal of parts consistent with the lease agreement.

We are shocked to say the least, how can you remove parts. We can't allow this, says Delhi HC

Del HC holds that prima facie, there is no merit in SpiceJet's arguments

Indian Stock News Channel

17 Dec 2024 13:04

Aditya Birla Real Estate’s arm Birla Estates acquires 70.92 acres of land parcel in Boisar for ₹104.3 crore

Indian Stock News Channel

17 Dec 2024 13:03

MINDA CORP: CO HAS FORMED A 50:50 JOINT VENTURE WITH HCMF TO CREATE MINDA-HCMF TECHNOLOGIES PVT LTD FOR MANUFACTURING AUTOMOTIVE SUNROOF SOLUTIONS AND CLOSURE TECHNOLOGY PRODUCTS