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January 22, 2025

F&O में आते ही लगी पनौती
45 Stocks in F&O on 29 Nov 2024
43 Down Since 29 Nov 2024
Major Falls
1) Kalyan Jewellers: -30%
2) Zomato: -26%
3) HFCL: -25%
4) Adani Green: -23%
5) Jio Financial : -20%
6) NCC : -20%
7) SJVN: -18%
8) Sona BLW : -18%
9) APL Apollo : -17%
10) Prestige Estates : -17%
11) Adani Total : -15%
12) CESC : -15%
13) CG Power : -15%
14) JSW Energy: -15%
15) Varun Beverages : -14%
UBS on MCX
Buy, TP Rs 7800
Yesterday's market reaction (stock down 9%) was unwarranted
In 3Q, delivered strong rev growth of 57%YoY, slightly lower than expectations but mainly due to decline in non trading rev
On flip side, trading rev was better than expectation
With new CEO stepping in, believe market to be upbeat about potential new products
These include likely launch of options for METLDEX (base metal index) & BULLDEX (bullion index)
Also launch of other products could be fast tracked
MOSL On MCX
Neutral Call, Target At `6,100/Sh
Miss On Q3 Earnings; New Product Launches Key To Re-rating
Volumes Were Healthy With An Overall Jump Of 102% YoY
Mgmt Guided For Momentum To Sustain, Driven By New Product Launches, Increasing Participation
Cut EPS Estimates By 4%/14%/11% For FY25/26/27 Due To A Lack Of Visibility On Product Launches
Jefferies on Dalmia Bharat
Maintain Buy, TP 2070
Cement sector result season starts on a weaker note
Weak volume growth, Miss in EBIDTA also due to higher operating costs
Realisations fared slightly better (+3% QoQ)
Net debt increased from Rs 6400cr to Rs 12400cr QoQ
MS on Dalmia Bharat
Underweight Call, Target At Rs1,750/Sh
Q3 Was Another Weak Quarter
Net Revenue Came Below Estimates
Vol Were Much Weaker Than Expected But This Negative Was Partially Offset By Better Realisations
Sense Is That Co Prioritized Sales In North/Central Regions Where Pricing Was Good
Operations costs were worse than expected
Nomura on Dalmia Bharat
Maintain Reduce, TP 1680
EBIDTA miss as volume disappoints
EBITDA/t Came In Just 2% Above Est, Largely On Account Of Better Than Expected Realisations
Lost market share in South due to higher competitive intensity
Fuel consumption decline 5% QoQ to $96/t
Key monitorable will be next stage of expansion
MS on PNB Housing
Overweight Call, Target At Rs1,520/Sh
Key Drivers Progressed As Expected In Q3
All key metrics were on track to meet management's medium-term guidance
Retail loan growth and management commentary was encouraging
Stage 2 ratio was higher QoQ; management expects this to reverse in Q4
Rising system asset quality concerns improve relative positioning, strengthening our thesis
A strong developing story at 1.2 FY26 P/B – significant downside protection and upside potential
Axis Capital on PNB Housing
Maintain Buy, TP 1200
The stock remains preferred pick among HFCs
Q3FY25 – growth continues, spreads improve
Spreads improved 8 bps QoQ on changing product mix
Healthy retail disbursements led by affordable and emerging segments
Margin will continue to improve on rising share of affordable and emerging segments
Nomura on Indiamart Intermesh
Downgrade to Reduce to Neutral, TP Rs1,900 (from Rs3,150)
Unexpected Decline In Paying Subscriber Base Comes Due To Weak Addition In Last 5 Quarters
Low Gross Addition With Sticky High Customer Churn To Weigh On Collections Growth
Believe Collections Could Remain Weak In Near To Medium Term Until Churn Reduces
Gross Addition Increases & Subsequently, Net Subscriber Addition Improves
Revive FY25-27 PAT by 4-13%
Nuvama on Indiamart Intermesh
Retain Reduce, TP 1970 (FROM 2500)
Subscribers decline for first time post-covid
Collection growth for the standalone business remains weak at 8% YoY
Management guiding for less than 10% growth in coming quarters for collections
Lower Sales & Marketing costs may boost short-term profitability
Yet to see any meaningful sign of improving subscriber retention.
Medium-term growth shall remain under pressure
Incred on Food Delivery
Zomato – Initiate Add with TP of Rs 270
Swiggy – Initiate Add with TP of Rs 540
Imagining the blue-sky scenario suggests a long runway for MTU
Large opportunity & Food Delivery profitability to support expansion in quick commerce
Scale and platform play with structural growth drivers in place
Quick Commerce opportunity is large enough to accommodate several players
Cash cow food delivery could support Quick Commerce business growth
Advertising revenue monetization could aid the take rate
MS on Reliance
Maintain Overweight, TP Rs1,606 (from Rs1,662)
RIL transitioning into a new energy company to power AI
Provide India with the infrastructure for the new tech era.
See investor debates shifting by 2HCY25
While many investors are focusing on retail multiples and refining/chemical earnings
Value unlocking in form of new use cases for existing infrastructure provides bigger opportunity for NAV to expand with gearing at multi-decade low
CITI on Paytm
Maintain Buy, TP Rs1,000 (from Rs900)
Paytm has pivoted fully to “Growth” focus and cost structure allows significantly more nimbleness
Growth momentum is solid on the merchant side with devices & loan distribution.
Consumer payments could see a steady step-up for growth in consumer monetization in the medium-term.
Raise payment GMV by 2%/3% for FY25/FY26
Consumer MTUs bottomed out in Dec’24 with a decent MoM recovery
MS On ICICI Pru Life
Equal-Weight Call, Target At Rs695/Sh
VNB Missed Forecasts In Q3 Results
Stronger APE Growth Than Peers Has Been Driven By A Weak Base
Trim VNB Forecasts By 2% For FY25-27 Following Miss On Margin
Stock Trades At 15x FY26 P/VNB & 1.7x P/EV For 14% RoEV
Volatile History, Weaker Margin Delivery & Lower RoEV Than Peers Drive Equal-Weight
HSBC On ICICI Pru Life
Buy Call, Target Cut To Rs780/Sh From Rs825/Sh
Q3 Reported Healthy Growth In APE & VNB, Driven By Linked & Group Premiums
Co Can Deliver 15-17% Growth In VNB
High Reliance On Linked Products For Growth Would Be A Key Valuation Overhang
GS on ICICI Pru Life
Maintain Neutral, TP Rs650 (from Rs665)
Strong APE growth at cost of margins
Mix shifted to lower margin products like ULIPs/Group Fund business
Has repriced its products inline with Oct yields (last repricing in Apr) after it missed out on repricing opportunities in Q2;
Proprietary channels (Agency, Direct) to grow faster given investments;
Group term pricing remains a challenge
Macquarie on ICICI Pru Life
Maintain Neutral, TP 725
VNB growth continues to disappoint
Factor in VNB margins of 23.9% in FY25E vs 9MFY25 margins of 22.8
Would be difficult to sustain the VNB margin at current levels even when new surrender value rules kick in from 2H FY25
Issues with captive channel remain causes for concern
14% VNB CAGR (FY25-27E)
CITI on India Refiners
OMCs-Opportunities to buy the dip
Expect strong Q3/Q4 earnings
GRM, marketing margins, Discount Russian crude are negatives
But offset can happen due to higher inventory gains and LPG compensation
All 3 OMCs stocks have underperformed by 5-10% in last 1 month
OMCs stocks underperformed upstream peer ONGC by 10-15% over last 2-3 months
Buys on all OMCs and open positive catalyst watch for HPCL and IOCL
UBS on KEI Ind
Maintain Buy, TP 5750 (FROM 6050)
Recent margin miss in our view is more led by volatile commodities and muted government capex
See structural thesis of margin improvement by FY27 remaining intact
Led by favourable change in revenue mix
Any near-term negativity believe would be an opportunity
New capacities and demand should drive 27% earnings CAGR over FY24-FY27E.
DAM Capital on KVB
Initiate Buy, TP 274 (20% UPSIDE)
Undergone a structural transformation,
Robust ROA/ROEs of 1.7%/17% (from <1%/10% ROA/ROE in FY22).
Financial performance and business outlook have become more predictable
Sustained return ratios and no negative outcome expected
Believe KVB has the potential to remain a steady compounder
A compelling business to hold in the mid-sized banking space
Axis Capital on Tata Tech
Maintain REDUCE with a revised TP of Rs 840 (Rs 910 earlier)
Muted revenue; industry headwinds drive cuts
Macro headwinds in Automotive business drive delays in new deals in the near term.
Services continues to lag Tech Solutions growth
Navigating the Opening Bell with Sbi Securities: 6 Key Technical and Derivative Insights
Indian Markets Tumble: Bears Take Charge Amid Global Concerns
1. Global Market:
On Tuesday, the S&P 500 and the #dow gained 0.88% and 1.24%, respectively, while the growth oriented Nasdaq 100 ended the day 0.58% higher. Consequently, the S&P 500 decreased its drawdown from over 4% at its deepest to 0.67% at present.
Going ahead, for S&P 500, the all-time high zone of 6080-6100 will act as a crucial hurdle for the index. While, on the downside, the zone of 5960-5940 will act as immediate support for the index.
On Tuesday, #BrentOil ended on a negative note at 78.69 level. This marks the fourth consecutive instance of a negative closing on the daily timeframe. Going ahead, resistance is placed at the zone of $81-82, while on the downside, support is seen at 76-75.
The U.S. Dollar Index (#DXY) was not able to sustain its bounce on Tuesday, resulting in a loss of 1.21%. This represents its most significant daily drop since November 2023. The 109.60-109.80 zone is expected to act as a significant resistance going forward, while on the downside, 106.50-106 is likely to act as a support.
2. Nifty View:
On Tuesday, the benchmark Nifty came under intense selling pressure, marking a seven month low as the sell off intensified amid massive volatility. Nifty closed 1.37% lower at 23,025. It has formed a sizeable bearish candle on the daily chart and closed below the previous five days consolidation range.
Midcap Index ended 2.31% lower at 53,835, while the Smallcap ended 2.28% lower at 17,457. Both the Index saw massive selling pressure with sizeable bearish candle on a daily scale, and it is advisable not to do bottom fishing in these stocks
Going ahead, for Nifty, the zone of 22,900-22,800 will act as a crucial support for the index. Any sustainable move below the level of 22,800 will lead to further correction upto the 22,600 level.
On the upside, a move above the 23,100-23,200 zone could lead to a short-term pullback in the Index.
On the #derivatives front, January #futures fell by 1.27 percent, while the combined #OpenInterest for the current, next, and far series rose 6.4 percent, indicating short buildup.
Among the constituents of the #Nifty index, only 3 stocks have witnessed a long build-up, and 4 of the stocks have witnessed a short covering rally. While, 21 stocks have witnessed a short build-up, and 22 stocks have witnessed a long unwinding.
The 23,200 strike has significant call open interest, followed by the 23,300 strike. On the put side, 23,000 has a substantial open interest, followed by a 22,800 strike.
For the weekly series, OI PCR is at 0.65. For the January monthly series, it is at 0.88.
Bank Nifty continued to slide throughout the day, closing 1.58% lower at 48,571. Going ahead, the zone of 49,000-49,100 will act as an immediate hurdle for the index. While, on the downside, the zone of 48,300-48,200 will act as crucial support for the index.
3. Sensex View:
The benchmark index #Sensex also formed a sizeable candle on the daily chart, breaking out of it previous 5 day 76,250-77,300 consolidation range. It ended 1.6% lower at 75,838.
Going ahead, the zone of 75,400-75,300 will act as a crucial support for the index. Any sustainable move below the level of 75,300 will lead to a further correction in the Index upto the 75,000 level. On the upside, the zone of 76,800-76,900 will act as an immediate hurdle for the index.
On the #derivative front, January #futures fell by 1.49 percent, and the #OpenInterest of the current series rose by 162.53 percent, indicating short buildup
The 76,000 strike has significant call open interest, followed by the 76,500 strike. On the put side, 76,000 has a substantial open interest, followed by a 75500 strike.
For the weekly series, OI PCR is at 0.46.
4. Key Market Indicators:
The volatility index, India #VIX, surged for the fourth consecutive day, ending the day 3.90% higher at 17.05 level. Going ahead, any sustainable move above the level of 17.50 will lead to an increase in the overall market’s volatility, giving discomfort to the bulls.
The #Advance/Decline ratio was largely tilted in favor of decliners.
5. Key Sectors:
Technically, Nifty IT, Pharma, Media, Auto, and Realty space are likely to underperform in the short term. Nifty Oil & Gas, Nifty Infra can outperform in the short term.
6. FII/DII Data:
#FIIs sold to the tune of 5920.28 cr. while DIIs bought to the tune of 3500.32 cr.
FIIs' Long short ratio for index futures is at 17.13 as on a net basis, they sold 16838 index futures.
On the stock futures front, FIIs have sold to the tune of 81971 contracts, while on the Options Front, FIIs sold 17124 call contracts and sold 11111 Put Option contracts
India may account for 16% of global consumption by 2050
https://x.com/BeatTheStreet10/status/1881627439362916612?t=IUH4PKf4zufJZHrO-tw0vg&s=19
*Incred on Food Delivery*
Zomato – Initiate Add with TP of Rs 270
Swiggy – Initiate Add with TP of Rs 540
Imagining the blue-sky scenario suggests a long runway for MTU
Large opportunity & Food Delivery profitability to support expansion in quick commerce
Scale and platform play with structural growth drivers in place
Quick Commerce opportunity is large enough to accommodate several players
Cash cow food delivery could support Quick Commerce business growth
Advertising revenue monetization could aid the take rate
*MS on Reliance*
Maintain Overweight, TP Rs1,606 (from Rs1,662)
RIL transitioning into a new energy company to power AI
Provide India with the infrastructure for the new tech era.
See investor debates shifting by 2HCY25
While many investors are focusing on retail multiples and refining/chemical earnings
Value unlocking in form of new use cases for existing infrastructure provides bigger opportunity for NAV to expand with gearing at multi-decade low
*CITI on Paytm*
Maintain Buy, TP Rs1,000 (from Rs900)
Paytm has pivoted fully to “Growth” focus and cost structure allows significantly more nimbleness
Growth momentum is solid on the merchant side with devices & loan distribution.
Consumer payments could see a steady step-up for growth in consumer monetization in the medium-term.
Raise payment GMV by 2%/3% for FY25/FY26
Consumer MTUs bottomed out in Dec’24 with a decent MoM recovery
*MS On ICICI Pru Life*
Equal-Weight Call, Target At Rs695/Sh
VNB Missed Forecasts In Q3 Results
Stronger APE Growth Than Peers Has Been Driven By A Weak Base
Trim VNB Forecasts By 2% For FY25-27 Following Miss On Margin
Stock Trades At 15x FY26 P/VNB & 1.7x P/EV For 14% RoEV
Volatile History, Weaker Margin Delivery & Lower RoEV Than Peers Drive Equal-Weight
*HSBC On ICICI Pru Life*
Buy Call, Target Cut To Rs780/Sh From Rs825/Sh
Q3 Reported Healthy Growth In APE & VNB, Driven By Linked & Group Premiums
Co Can Deliver 15-17% Growth In VNB
High Reliance On Linked Products For Growth Would Be A Key Valuation Overhang
*GS on ICICI Pru Life*
Maintain Neutral, TP Rs650 (from Rs665)
Strong APE growth at cost of margins
Mix shifted to lower margin products like ULIPs/Group Fund business
Has repriced its products inline with Oct yields (last repricing in Apr) after it missed out on repricing opportunities in Q2;
Proprietary channels (Agency, Direct) to grow faster given investments;
Group term pricing remains a challenge
*Macquarie on ICICI Pru Life*
Maintain Neutral, TP 725
VNB growth continues to disappoint
Factor in VNB margins of 23.9% in FY25E vs 9MFY25 margins of 22.8
Would be difficult to sustain the VNB margin at current levels even when new surrender value rules kick in from 2H FY25
Issues with captive channel remain causes for concern
14% VNB CAGR (FY25-27E)
*CITI on India Refiners*
OMCs-Opportunities to buy the dip
Expect strong Q3/Q4 earnings
GRM, marketing margins, Discount Russian crude are negatives
But offset can happen due to higher inventory gains and LPG compensation
All 3 OMCs stocks have underperformed by 5-10% in last 1 month
OMCs stocks underperformed upstream peer ONGC by 10-15% over last 2-3 months
Buys on all OMCs and open positive catalyst watch for HPCL and IOCL
*UBS on KEI Ind*
Maintain Buy, TP 5750 (FROM 6050)
Recent margin miss in our view is more led by volatile commodities and muted government capex
See structural thesis of margin improvement by FY27 remaining intact
Led by favourable change in revenue mix
Any near-term negativity believe would be an opportunity
New capacities and demand should drive 27% earnings CAGR over FY24-FY27E.
*DAM Capital on KVB*
Initiate Buy, TP 274 (20% UPSIDE)
Undergone a structural transformation,
Robust ROA/ROEs of 1.7%/17% (from <1%/10% ROA/ROE in FY22).
Financial performance and business outlook have become more predictable
Sustained return ratios and no negative outcome expected
Believe KVB has the potential to remain a steady compounder
A compelling business to hold in the mid-sized banking space
*Axis Capital on Tata Tech*
Maintain REDUCE with a revised TP of Rs 840 (Rs 910 earlier)
Muted revenue; industry headwinds drive cuts
Macro headwinds in Automotive business drive delays in new deals in the near term.
Services continues to lag Tech Solutions growth
AMCs Stocks, Prudent Corp
Sebi in advanced stage on circular to allow funds to offer SIP plans for amounts even below 500
IDBI (FROM ET)
Selloff picks up pace as suitors get data access
Potential buyers such as Fairfax Financial, Emirates NBD, Oaktree Capital, and Kotak Mahindra Bank have begun due diligence
Govt and LIC looking to sell 60.7% stake (They own 95% stake)
Neuland Laboratories
To expand capacity at 2 units at Telangana
MSTC IN FOCUS
The Strategic Disinvestment transaction of FSNL (a wholly owned subsidiary of MSTC Ltd) has successfully concluded today with transfer of 100% shares of FSNL by MSTC to Konoike Transport Co. Ltd. along with management control
FROM ET
Quick commerce company Zepto is considering increasing the size of its public offering from $800 million to $1 billion,
ACTION FOR DAY
Global earnings: Alcoa numbers (KEEP HINDALCO IN FOCUS)
Q3 earnings-Nifty: HDFC Bank, HUL, BPCL
Q3 Earnings-Polycab India, Coforge, Nuvoco Vistas, Pidilite Inds, HUDCO, Tata Comm, Persistent Systems, Zensar Tech, Heritage Foods, NIIT Learning
HUDCO board to mull fundraising
Denta Water IPO opens
Lock-in period ends -Waaree Energies (1%)+Deepak Builder and Engineers (20%)
ABFRL: CO SUCCESSFULLY COMPLETES RUPEES 1860 CR QIP, TOTAL FUND RAISE, INCLUDING PREFERENTIAL ISSUANCE, TOPS RUPEES 4200 CR
ABFRL: CO SAYS STRONG RESPONSE FROM DOMESTIC AND FOREIGN INVESTORS WITH OVERALL QIP ISSUE SUBSCRIBED 2 TIMES, FUNDRAISE TO MAKE CONSOLIDATED ENTITY DEBT-FREE AHEAD OF PROPOSED DEMERGER AND PAVE THE WAY FOR FUTURE GROWTH
STOCKS MOVED TO SHORT TERM ASM LIST
Vodafone Idea Ltd
Apollo Micro Systems Ltd*
Betex India Ltd
Cubical Financial Services
Gujarat Apollo Industrie
IDBI Bank
Innovators Facade System
Kesar Petroproducts Ltd
SGL Resources Ltd
STOCKS OUT FROM SHORT TERM ASM LIST
GREAVES COTTON
TATA TECH Q3 HIGHLIGHTS
Total company operating revenue in constant currency up 1.7% QoQ
Services segment revenue of ₹10,127 million, up 0.8% QoQ
Services segment revenue in constant currency up by 1.1% QoQ
Total company gross margin at 28.7%, vs. 29.1% QoQ
Net income at 1,686 million, up 7.1% QoQ; Net income margin at 12.8%, vs. 12.1% QoQ
HDFCBANK; CLSA on HDFC Bank
Maintain Hold with target price of Rs 1,785
Given the macro environment, key point to watch out for would be asset quality performance
Believe that investors will still be looking out for quantifiable growth guidance from management
TATA TECH Q3 SEGMENT WISE
■ SERVICES SEGMENT
Revenue Up 1.6 % To Rs 1012 Cr QOQ
$ Revenue Up 0.7 % To $ 119.9 Mn QOQ
Gross Profit Flat AT 324 Cr QOQ
Gross Margins At 32.1 % V 32.3 % QOQ
■ TECHNOLOGY SEGMENT
Revenue Up 4.6 % To 288 Cr QOQ
Gross Profit Flat AT 52.7 Cr QOQ
Gross Margin at 17.3 % V 18.1 %
Attrition Rate at 12.9 % V 13.1 % QOQ
Headcount At 12,659 V 12,680 QOQ
BHARAT FORGE: CO UNIT SIGNS RUPEES 5,250 CR MOU WITH GOVT OF MAHARASHTRA FOR DEFENCE, STEEL, AND EV SECTORS
RELIANCE INFRA: CO SIGNS RUPEES 16,500 CR MOU WITH GOVT OF MAHARASHTRA FOR DEFENCE PROJECTS
GENSOL ENGINEERING: CO INKS RUPEES 4,000 CR ELECTRONICS MOU WITH GOVT OF MAHARASHTRA
WELSPUN CORP: WELSPUN WORLD SIGNS RUPEES 8,500 CR MOU WITH CIDCO FOR LOGISTICS SECTOR
JPMorgan On OBEROI REALTY
Upgrade to Overweight from Neutral; Hike TP to Rs 2350 from Rs 1760
Oberoi’s margins over the next 2 years should benefit from luxury pricing, late stage inventory and ramp up of rental business progressively over the next 12 months
Thane launch drives the show. Luxury slows but likely tactical
Operating cash flow slow on business development cost, net D/E comfortable at 0.1x
Occupancy increased across office assets; annuity growth to be high over next 2 years
Cyient DLM under pressure:
Concerns over the order book persisted, with the consolidated order book declining 7% YoY to INR 21.2bn, driven primarily by accelerated execution of a low-margin order, while order inflows remained weak
Market opens with minor gains, Nifty at 23,100
CEAT: CO SIGNS RUPEES 500 CR MOU WITH GOVT. OF MAHARASHTRA FOR AUTOMOTIVE & EV SECTOR
Nifty opens in green above 23100 mark
HDFC Bank and HUL in green ahead of their Q3 earnings today
B&K on Neuland
Announced Capex plans (to be funded thru debt and internal accruals) are quite positive for Neuland as it invests into new capacities for its CMS biz pipeline.
CMS segment has scaled up to ~50% of total revenues, it has 13 projects in registration/pre-registration stage which could go commercial in coming 2-3 years.
We remain positive on Neuland as stock trades attractive valuation of 27x FY27e EPS of Rs 490 per share at CMP of Rs 13,155 (Mkt cap of US $ 2 bn), available at 40-45% discount to peers. Maintain Buy rating on Neuland.
Newgen Soft extends losses, down over 7%
JANA SFB + 17 %
IndiaMart down down 7% on weak Q3 results
Sources Says Govt may announce financial support for mfg of power electronics in upcoming budget - ETNOW
Financial support may cover power electronics used in electrolysers and batteries
Incentive plan may be granted for five years, in line with PLI schemes
New scheme likely to be announced to promote manufacturing under MSME sector
Compliance-related announcement also expected to support MSMEs
Sources Says Govt may also re-launch Interest Equalisation Scheme for MSME exporters - ETNOW
Alert: Interest Equalisation Scheme for MSME exporters expired on Dec 31, 2024
Eligibility criteria for interest benefits may be relaxed for small exporters
Alert: Equalisation benefit was fixed at Rs 50 lk for MSME exporters
Nodal ministries have submitted proposals to finance ministry
KEI IND ; KEI Ind in focus
9MFY25 margin less than 10% Vs FY25 guidance of 11%
CO. LIKLEY TO MISS MARGIN GUIDANCE OR DELIVER STRONG MARGINS IN Q4 TO MATCH GUIDANCE
Nifty FMCG top sectoral gainer, up around 0.6% led by United Spirits and Britannia
Nifty Realty top sectoral loser, down over 1% mostly dragged by Oberoi Realty and Prestige Estates
HDFCBank flat, BPCL in the red ahead of Q3 earnings
Jana SFB up more than 14% on Q3 results, after mgmt says 'worst is behind us'
Nifty Midcap and Smallcap down over 1%
Mobikwik down nearly 5%, back near listing price
SPACE RELATED STOCKS ; India’s space economy projected to touch USD 44 billion in next decade ; Union Minister
NEWGEN SOFTWARE EXTENDS LOSSES , DOWN 8 %
BDL ; India is considering a $450 million deal to sell BrahMos cruise missiles to Indonesia - NDTV profit
KEI IND Says Margin Should Normalise In Q4 To The Guided Range For FY25 - CNBCTV18
KEI IND Management Says Margin Should Normalise In Q4 To The Guided Range For FY25 - CNBCTV18
Nifty Midcap & Smallcap trade at 1-week low intraday
KalyanJewellers recovers nearly 5% from intra-day lows
Nifty Realty continues to be top sectoral loser, down over 2%
Nifty Realty trades at ~10 month low intraday
INVESCO MF Says We have become more risk-averse from an economic standpoint - CNBCTV18
Positive on franchisees that have seen decline, but have executed well
Optimistic on quick commerce & top electronics manufacturing service (EMS) cos
Some valuations in EMS space getting closer to reasonable levels
Have moderated some of our exposure towards capex stocks
KEI IND Management Says Positive on franchisees that have seen decline, but have executed well - CNBCTV18
Increased export by 20% in wires & cables segment
Maintained guidance of 16-17% volume growth for C&W division for FY25
Sanand plant will be on stream by end of June, will be operational Q2FY26 onward
Margin should normalise in Q4 to the guided range for FY25, increased export by 20% in wires & cables segment: Anil Gupta, KEI Industries says
Nifty Bank at day's high, recovers ~200 points off day's low to trade in green
DixonTech recovers nearly 5% from lows
Persistent Sys extends losses, down over 6% ahead of Q3 results
Q3 was good & demand remains robust, have been able to manage the cost & increase the yield
Will start lending to corporates; which will aid margin
Girish Kousgi, PNB Housing Finance to CNBC-TV18
RIKHAV SECURITIES IPO LISTED AT ₹163.40 ( INCLUDES 90.00% PREMIUM ) AGAINST THE OFFER PRICE ₹86
PEOPLE WHO GOT ALLOTMENT CAN EXIT AT CMP IF YOU WANNA HOLD THEN HOLD IT WITH THE SL OF ₹155 FOR 1 TO 3 YEAR
DALMIA BHARAT CONCALL
Cement demand fell short in Q3 due to unseasonal rain, elections
Believe cement demand can grow at 6-7% YoY in Q4
Expect further increase in prices in Q4
Competitive pressure still there
Will further announce expansion to 75MT by FY28
Expect capex for FY25 of Rs 3000cr for N.East and Bihar
Comfortable leverage levels for next wave of expansion

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