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July 22, 2024

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WATCHLIST FOR MONDAY (22/07/24) - Source Beat The Street (Telegram Channel: https://t.me/s/BeatTheStreet10
FOR STUDY & RESEARCH PURPOSE ONLY!
Now sharing MY EDUCATIONAL WATCHLIST OF SUPER-2 Of POSSIBLE UPTREND CASH SEGMENT STOCKS which may give possible Momentum on MONDAY as per personal study bd.
1) SUBROS LIMITED (696.20)
2) DATAMATICS GLOBAL SERVICES LIMITED (651.45)
3) TCPL PACKAGING LIMITED (2511.40)
4) PRESTIGE ESTATE PROJECTS LIMITED (1787.50)
5) TITAGARH RAIL SYSTEMS LIMITED (1655.55)
6) EPACK DURABLE LIMITED (260.20)
7) ANANT RAJ LIMITED (480.70)
8) RPG LIFESCIENCES LIMITED (1794.40)
9) EMS LIMITED (670.95)
10) PEARL GLOBAL INDUSTRIES LIMITED (PGIL) (817.90)
11) ELECON ENGINEERING COMPANY LIMITED (641.00)
12) COROMANDEL INTERNATIONAL LIMITED (1595.40)
13) KALYAN JEWELLERS LIMITED (528.95)
14) SHAILY ENGINEERING PLASTICS LIMITED (857.25)
15) ORCHID PHARMA LIMITED (1298.05)
16) HG INFRA ENGINEERING LIMITED (1691.85)
17) EMAMI LIMITED (799.80)
18) VST INDUSTRIES LIMITED (4573.10)
19) STRIDES PHARMA SCIENCES LIMITED (STAR) (952.70)
20) ASTRAL LIMITED (2272.10)
21) ORIENT CEMENT LIMITED (325.55)
22) ZYDUS WELLNESS LIMITED (2182.80)
23) FIVE STAR BUSINESS FINANCE LIMITED (767.65)
24) PAKKA LIMITED (242.00)
25) SPORTKING INDIA LIMITED (1002.60)
26) NAVKAR CORPORATION LIMITED (128.99)
27) ELECTROSTEEL CASTINGS LIMITED (200.82)
(FAVOURITES: DATAMATICS GLOBAL SERVICES LIMITED, EPACK DURABLE LIMITED, ELECON ENGINEERING COMPANY LIMITED.)
DISCLAIMER:- WATCHLIST SHARED AS A PART OF DAILY STUDY ONLY & IT IS JUST PERSONAL VIEW AS PER MY STUDY SO IT CAN BE WRONG TOO! I AM NOT SEBI REGISTERED ANALYST. THE LIST PREPARED & SHARED AS PER PERSONAL STUDY. PURPOSE IS TO ENHANCE LEARNING FOR ALL, IT DOESN'T MEAN RECOMMENDATION TO BUY OR SELL IN ANYWAY. STILL IF ANYONE TAKE ANY TRADE ACTION BY SELF THEN I WILL NOT BE RESPONSIBLE FOR ANY KIND OF LOSSES OR PROFITS..!! IT IS PURELY ONE'S OWN ACTION & CHOICE. NO ANY KIND OF LEGAL ACTIONS WILL BE ENTERTAINED FOR SAME. GOOD LUCK
India Daybook – Stocks in News
Nippon AMC: Net profit at Rs 332 cr vs Rs 235 cr, Revenue at Rs 505 cr vs Rs 354 cr (YoY) (Positive)
Transformers and Rectifiers: Net profit at Rs 21 cr vs Rs 12 cr, Revenue at Rs 322 cr vs Rs 155 cr (YoY). (Positive)
Jubilant Pharmova: Net profit at Rs 481 cr vs Rs 6 cr, Revenue at Rs 1720 cr vs Rs 1566 cr (YoY). (Positive)
Oberoi Realty: Net profit at Rs 584 cr vs Rs 321 cr, Revenue at Rs 1405 cr vs Rs 910 cr (YoY) (Positive)
ICICI Lombard: Net profit at Rs 466.3 cr vs Rs 329 cr, Premium Earned at Rs 4503.9 cr vs Rs 3887.3 cr (YoY) (Positive)
Tejas Networks: Net profit at Rs 79.85 cr vs loss of Rs 14.70 cr, Revenue at Rs 1540 cr vs Rs 167 cr (YoY) (Positive)
RPG Life: Net profit at Rs 26.8 cr vs Rs 22.1 cr, Revenue at Rs 165.4 cr vs Rs 147.8 cr (YoY) (Positive)
Supreme Petrochem: Net profit at Rs 122 cr vs Rs 69 cr, Revenue at Rs 1573.5 cr vs Rs 1225.1 cr (YoY) (Positive)
Patanjali Foods: Net profit at Rs 262.9 cr vs Rs 87.8 cr, Revenue at Rs 7173.1 cr vs Rs 7767.1 cr (YoY) (Positive)
Gravita: Net profit at Rs 68 cr vs Rs 52 cr, Revenue at Rs 907 cr vs Rs 703 cr (YoY) (Positive)
Yes Bank: Net profit at Rs 502 crore versus Rs 342 crore, NII at Rs 2244 crore versus Rs 1999 crore (YOY) (Positive)
RBL Bank: Net profit at Rs 371.5 cr vs Rs 288.1 cr, NII at Rs 1699.9 cr vs Rs 1422.3 cr (YoY) (Positive)
Stanley Lifestyles: Net profit at Rs 10.20 cr vs Rs 5.80 cr, Revenue at Rs 120 cr vs Rs 96.6 cr (YoY). (Positive)
Kirloskar Pneumatic: Net profit at Rs 26.9 cr vs Rs 17.93 cr, Revenue at Rs 275 cr vs Rs 242 cr (YoY). (Positive)
Shakti Pumps: Net profit at Rs 92.6 cr vs Rs 1.0 cr, Revenue at Rs 567 cr vs Rs 113 cr (YoY). (Positive)
Poonawalla: Net profit at Rs 290 cr vs Rs 226 cr, Revenue at Rs 900 cr vs Rs 650 cr (YoY). (Positive)
Netweb Tech: Net profit at Rs 15.4 cr vs Rs 5.0 cr, Revenue at Rs 149 cr vs Rs 60 cr (YoY) (Positive)
JK Cement: Net profit at Rs 185 cr vs Rs 111 cr, Revenue at Rs 2807 cr vs Rs 2762 cr (YoY) (Positive)
Sportking India: Net profit at Rs 31.8 cr vs Rs 18.1 cr, Revenue at Rs 634 cr vs Rs 538 cr (YoY). (Positive)
Mahindra & Mahindra: Company announces its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio (Positive)
Coal India: Company has received an order from Ministry of Mines, GOVT of India for Composite license. (Positive)
Union Bank: Q1 fresh slippages seen at 20.6 Billion vs 32 Billion (QoQ) (Positive)
Hazoor Multi Projects: Board meeting on July 26 to consider sub-division/spilt of shares (Positive)
Aster DM: Company unit Malabar institute of medical sciences to acquire 25% stake in Usolar Assetco, cost of acquisition Rs 78.8 Million (Positive)
Zaggle Prepaid: Company has entered into an agreement with PNB MetLife India Insurance Company to provide Zaggle Save Employee expense management and benefits. (Positive)
Welspun Living: Company Board meeting om July 24 to Consider Q1 Result, Consider Agenda for Buyback of Equity Shares (Positive)
EMS: Company received order worth 5.35 Billion rupees. (Positive)
Kay Cee Energy: Company received order worth Rs. 196 Million (Positive)
Tata Consumer: Company sanction of scheme of amalgamation of 3 units with company, by national company law tribunal. (Positive)
JSW Infra: Company approves purchase of assets of under construction 30 MTPA slurry pipeline project. (Positive)
VL E-Governance: Company signs binding term sheet for acquisition of 26% equity stake in HETL (joint venture of HAL), through this acquisition (Positive)
PCJeweller: Bank of Baroda accepts one-time settlement proposal from company for unsettled dues. (Positive)
HDFC Life Insurance: Company gets rectification order for tax demand revised from Rs 4,179 Cr in March to Rs 1,868 Cr (Positive)
HG Infra: Company gets letter from East Central Railway for Rs 709 crore project in Bihar. (Positive)
Vedanta: Company becomes preferred bidder for Gollarahatti - Mallenahalli Nickel Chromium and PGE Block. (Positive)
KPI Green Energy: Company receives letter of award from MAHAGENCO for development of a 100-megawatt solar power project. (Positive)
HDFC Bank: Board gives in-principle nod to initiate the process of listing HDBFS through a potential IPO. (Positive)
HDFC Bank: Net profit at Rs 16,175 crore versus poll of Rs 15,693 crore, NII at Rs 29,837 crore versus poll of Rs 29,583 crore (Neutral)
Kotak Bank: Net profit at Rs 6250 crore versus poll of Rs 4004 crore, NII at Rs 6842 crore versus poll of Rs 7067 crore (Neutral)
Wipro: Net profit at Rs 3037 cr vs Rs 2858 cr, Revenue at Rs 21,964 cr vs Rs 22,208 cr (YoY) (Neutral)
JSW Steel: Net profit at Rs 867 cr vs Rs 2428 cr, Revenue at Rs 42,943 cr vs Rs 42,213 cr (YoY). (Neutral)
Indian Hotels: Net profit at Rs 248.4 cr vs Rs 222.4 cr, Revenue at Rs 1550.2 cr vs Rs 1466.4 cr (YoY) (Neutral)
CreditAccess Grameen: Net profit at Rs 398 cr vs Rs 348 cr, Revenue at Rs 1512 cr vs Rs 1170 cr (YoY) (Neutral)
Ksolves India: Net profit at Rs 8.95 cr vs Rs 7.60 cr, Revenue at Rs 31.6 cr vs Rs 23.8 cr (YoY) (Neutral)
Reliance Ind: Net profit at Rs 15,140 cr vs Rs 16,000 cr, Revenue at Rs 2,36,000 cr vs Rs 2,11,000 cr (YoY) (Neutral)
Route Mobile: Net profit at Rs 78.5 cr vs Rs 92.4 cr, Revenue at Rs 1100 cr vs Rs 967 cr (YoY) (Neutral)
Motisons: Net profit at Rs 8.5 cr vs Rs 7.4 cr, Revenue at Rs 89 cr vs Rs 87 cr (YoY) (Neutral)
Tanla Platforms: Net Profit up 4.3% at ₹141.2 cr vs ₹135.4 cr, Revenue up 10% at ₹1,002.2 cr vs ₹911.1 cr (YoY) (Neutral)
DISH TV India: Company’s board meeting on July 24 to consider raising of funds (Neutral)
Bank of India: Bank has issued and allotted long term bonds (infrastructure) amounting to Rs 5,000 Cr on a private placement basis (Neutral)
Integra Essentia: Company’s CFO Pankaj Sardana resigns (Neutral)
Vedanta: Company sells 19.32 cr shares in QIP at Rs 440 each (Neutral)
Vodafone Idea: Company approves first tranche allotment of shares worth Rs 615 crore to Nokia India and Ericsson India. (Neutral)
Allcargo Gati: Company June total volume, including surface and air express, stood at 100kt, recording a decline of 3% as compared to May 2024. (Neutral)
Pearl Global Industries: Company completion of raising of funds up to 1.50b rupees via QIP (Neutral)
Indian Bank: Central Government extends term of office of Shanti Lal Jain as MD & CEO of Bank w.e.f September 1 to Dec 31 (Neutral)
SpiceJet: Company auditor issues 'Qualified Opinion' on FY24 accounts. (Neutral)
Adani Ent: Company and Torrent eye majority stake in IPL franchise as CVC wants to sell stake (Neutral)
Indusind Bank: Bank approved fund raise via debt securities worth Rs 200 Billion (Neutral)
Techno Electric: Allotted 86 Lakh Shares to QIB At 1440 Rupees/share (Neutral)
Bombay Dyeing: Company received Tax demand from Authorities WORTH OF Rs 39.77 crore (Neutral)
PVR Inox: Net Loss at Rs 178 cr vs loss of Rs 81.60 cr, Revenue at Rs 1190 cr vs Rs 1304 cr (YoY) (Negative)
Seshasayee Paper: Net profit at Rs 37 cr vs Rs 71.7 cr, Revenue at Rs 422 cr vs Rs 427 cr (YoY) (Negative)
Wipro: Management said that didn't see a significant shift in demand environment. Clients remained cautious, and discretionary spending continued to be muted (Negative)
MS on Reliance
Overweight Call, Target Rs 3,540
Q1FY25 Earnings & EBIDTA Missed, But B/S Outperformed
Net Debt & Capex Intensity Declined
While Energy & Telecom Should See Rebound In Coming Quarters
Co’s Pivot In Retail To Focus On Margin Amid Tepid Domestic Demand Stands Out
Q4FY24 EPS Was 4.5% Below Est, Due To Higher Impact From Gasoline Margin Decline
Q4fFY24 EPS Below Est On Tepid Fashion/Lifestyle Vertical Demand In Consumer Retail
Reported Net Debt Declined $0.6 Bn
Capex Intensity Was Below OCF At $3.7 Bn/Qtr Vs 2-yr Avg Quarterly Run Rate Of $4.5 Bn
Jefferies on Reliance
Buy Call, Target Rs 3,525
EBITDA Declined 9% QoQ, In-line With Est
While O2C & Jio Were In-line, Retail Missed On Soft Growth While Upstream Beat
Mgmt Is Rationalising Unprofitable Parts In Retail With Focus On Margi
Jio Should See Strong Growth On The Back Of The Tariff Hike
Outlook On O2C Profitability Remains Subdued In CY24
Capex Rose QoQ But Remains Below The FY24 Run Rate & Net Debt Moderated
Nomura on Reliance
Buy Call, Target Rs 3,600, Co Remains Top Pick
In-line Quarter; Strong Outlook
O2C Delivers Well In A Challenging Environment
Reported Net Debt Moderates To `1.12 Tn; Capex Increased To `28,800 Cr
Jio’s EBITDA Of `13,900 Cr Increased 2% QoQ, 2% Below Est,
Jio’s EBITDA Reflecting Lower Than-Anticipated Net Adds Of 7.9 m
EOP Subs Now At 489.7 m & QoQ Steady ARPU At `181.7
Retail Adj EBITDA Of `5,450 Cr Grew 11% YoY
Retail Adj EBITDA Was Modestly Below Our Estimates
Overall Margin Rose 20 bps YoY; Operational Trends Remained Strong
Macquarie on RIL
Neutral, TP Rs 2750
Catalysts:
AGM newsflow: a) update on spin-offs of JIO/Retail, b) progress in new energy business.
Follow through on capex discipline and FCF improvement would be positive, but likely consensus EPS cuts a drag
GS on RIL
Buy, TP Rs 3415
1Q EBITDA in line with further deleveraging; catalysts pipeline still strong into 2H
Expect EBITDA to grow 14% QoQ in 2Q mainly driven by recent ARPU hike & stronger refining margins
Expect Retail returns to inflect 250bps & 110bps in FY25E & FY26E
JPM on HDFC BK
Downgrade to N, TP cut to Rs1700 on expectations of weak loan growth (JPMe F25: 9% vs 12% earlier)with bk slowing down b/s faster than anticipated
F25/26 likely to see bk running low incremental LDRs,focus on improving CASA/loan mix rather than loans/avg. BS growth
CASA/Asset ratio remains key to monitor; come down to 24% for HDFCB as on Jun-24 vs33% pre-merger
Repair here could take time especially in an environment of weak CASA growth in system & thus could keep growth slow
Bernstein on HDFC BK
O-P, TP Rs 2100
From nos, an improvement trajectory is visible even if gradual
While RoA remained 1.9%, EPS flat YoY
Big +ves - marginal QoQ improvement in NIM & a sharp decline in borrowings (10% QoQ) while weak deposit growth appears system-wide -ve
Nomura on HDFC BK
Neutral, TP Rs 1720
1Q: Slight NIM uptick; muted loan growth outlook stays
Another q-q NIM uptick; watch out for impact of higher PSL requirements from 2QFY25
Build in 12%/17% loan/deposit CAGR over FY24-27F
Bernstein On Kotak Mah Bk
Market Perform, Target Rs1,750/Sh
Q1 Results Saw Sharp Decline In RoA On The Back Of Lower NII & An Uptick In Credit Costs
Loan Growth Remained Strong On The Back Of A Punchy Growth In Corporate Credit
Deposits Declined Sequentially Thanks To The Muted Growth In CASA Deposits
The Impact Of The RBI Restrictions Was Not Visible On Loan Growth
The Bank Did See A Slowdown In Customer Acquisition
MS on Kotak Mah Bank
Overweight Call, Target Raised To Rs 2,300 From 2,150
Large One-time Gains, Strong Loan Growth & Controlled Costs Were Key Positives
Negatives Were A Margin Decline Owing To Higher Liquidity, Adverse Loan Mix Shift
Believe Margin Could Be Volatile Near-term, But Will Stay Much Above Historical Averages
Both Loan Growth And Deposit Growth Were Strong
Operating Expenses Were Controlled Despite Higher Investments
NIM Declined By 25 bps QoQ, 20 bps More Than Est Owing To Adverse Loan Mix Shift
NIM Declined Owing To Higher Liquidity As Well As Certain One-offs Last Quarter
At 1.7x F26 P/BV (Core), Think Risk Reward Is Attractive
Nomura on Kotak Mah Bank
Buy, TP Rs 2100
1Q : Muted qtr in a challenging environment
NIMs saw a sharp decline (26bp q-q vs est. of 15bp) in 1Q & this coupled with higher credit cost(64bp vs est of 50bp) meant core performance was muted, despite lower than expected opex growth
Nomura on CreditAccess
Downgrade To Neutral, Target Cut To Rs 1,300
Growth/Asset Quality Trends Both Disappointed In Q1; Outlook Uncertain
Asset Quality Deteriorates For Third Consecutive Quarter
FY25 Guidance Of Nearly 23-24% Disbursement Growth Looks Difficult To Achieve
Given Pressure On Both Growth & Asset Quality, Cut FY25-27 EPS By 2-4%
MS on ICICI Lombard
Overweight Call, Target Raised To Rs 2,205
Q1 PAT Beat Estimate By 10% (Higher Cap Gains) & Consensus By Nearly 20%
Raise Forecasts And Price Target; Expect Consensus To Rise
Stock's YTD Outperformance Should Continue Given Market Share Gains
Stock's YTD Outperformance Should Continue Given Better Combined Ratio
Co Likely Boost To Accounting Earnings From IFRS Transition In FY26
Citi on Polycab
Buy Call, Target Rs 7,600
Overall Revenue Growth Was Strong At 21% YoY, 2% Ahead Of Estimate
Domestic Wires And Cables Growth Remained Strong
EPC Revenue Contribution Likely To Remain Elevated
Pick-up In Wires Growth Should Aid In Recouping Margin
Kotak on Polycab
Sell Call, Target Rs 4,500
Co’s Domestic W&C Volume/Revenue Grew By 10%/16% In Q1
Domestic W&C Volume/Revenue Saw Decent Growth In Context Of A Strong Base
EBITDA Missed Due To Adverse Geography/Channel Mix And Extreme RM Volatility
As Adverse Externalities Appear To Be Behind, Co Expecting An Uptick In Sales Going Forward
Even As Margin Could Recover Sequentially, They Are Unlikely To Replicate FY24 Performance
See Downside Risks To Street’s Margin Forecasts; Cut EPS Forecast By 1-3%
CITI on Ultratech Cement
Buy, TP Raised to Rs 13000
At Rs29.8bn, 1Q standalone EBITDA rose 1% yoy – higher volumes (+7%), lower costs (-4%), and higher RMC sales offset lower yoy realizations (-6%).
India EBITDA/t: Rs980 vs. Rs1,200 in 4Q, Rs1,035 last year.
MS on Can Fin Homes
OW, TP Rs 1050
PAT missed MSe by 5%
Calculated NIM was 10bps below MSe at 3.7%.
Credit costs were above MSe, as GNPA rose QoQ.
F1Q is seasonally weak for HFCs.
Disbursements (-6% YoY) were muted
CITI on Wipro
Sell. TP Rs 495
Delivered weak 1Q- 1% qoq decline vs TCS/INFY delivering +2-3% qoq
2Q guidance at -1% to +1% qoq cc will disappoint in context of raised expectations
MS on Wipro
UW, TP Rs 459
Unlike peers, missed on rev est. & also provided weak Q2 outlook
MS on Indian Hotels
OW, TP Rs 595
F1Q25 in-line with consensus
Pent-up demand, shift in marriage dates to Q2 are driving growth in July
Favorable industry demand-supply dynamics, strong brand, & asset light growth leading to better FCF & RoCE keep us OW
JPM on BPCL
OW, TP Rs 359
1Q PAT, though down significantly on higher oil & retail price cuts, was largely in line
Upgrades could happen if a) crude prices fell, or b) OMCs receive compensation for LPG losses they currently book
Jefferies on BPCL
Buy, TP Rs 385
1Q EBITDA fell 39% q/q & came inline with JEFe as weaker refining was offset by better marketing and inv gains.
Refining margins shd remain range-bound in near term on elevated capacity adds
Offers healthy integrated margins compared to peers
Nomura on BPCL
Buy, TP Rs 368
Q1 above est. on higher-than-anticipated refining margins
1Q EBITDA of Rs 56.5bn 5% above est. & declined sharply by 39% q-q on higher-than-anticipated refining margins, which was partly offset by lowerthan-anticipated marketing margins
MS on BPCL
OW, TP Rs 366
Earnings call focussed on start of investment cycle in refining and chemicals after five-year hiatus
While not a surprise as co aims to double earnings in 5 yrs, encouraged by strong earnings quality
1Q integrated margin of $9.4/bbl better than MSe
Stocks in News post Market closure
JSW Steel Limited : Board approved the transfer of Slurry Pipe Line undertaking of JSW Utkal Steel Limited, a wholly owned subsidiary of JSW Steel Limited for the transportation of iron ore from Nuagaon mines to Jagatsinghpur in the State of Odisha, by way of Slump Sale to JSW Infrastructure Limited, a related party and to enter into a long term take or pay agreement with JSW Infrastructure Limited for the transportation of iron ore slurry from Nuagaon mines to Jagatsinghpur by slurry pipeline mode, for a period of 20 years, by the Company.
Sellwin Traders Ltd : Board approved to make a strategic investment in SDF Productions Pvt. Ltd. acquiring a 51% stake over the one year. SDF Productions Pvt. Ltd is dealing in spices, pulses, rice, tea, pulp, food, fruits, and vegetables. The Company focused on exporting fresh fruits, vegetables, processed food products, and cereals which is related to the business of the Sellwin Traders Limited. This investment will support to expansion of business of Sellwin Traders Limited.
VL E-Governance & IT Solutions Limited :VLE SIGNS BINDING TERM SHEET FOR ACQUISITION OF 26% EQUITY STAKE IN HETL (JOINT VENTURE OF HINDUSTAN AERONAUTICS LIMITED (HAL)).
Indian Hotels : Board approved Transfer of restaurant business of its Wholly Owned overseas Subsidiary i.e. Taj International Hotels Limited (‘TIHL’) to St James Court Hotels Limited, a Subsidiary of the Company.
Dish TV India Limited : Board meeting to be held on 24th day of July, 2024, to consider the proposal for raising of funds.
BEEJAL DESAI : Board approved Transfer of restaurant business of its Wholly Owned overseas Subsidiary i.e. Taj International Hotels Limited (‘TIHL’) to St James Court Hotels Limited, a Subsidiary of the Company.
Tata Communications Limited : Board has issued and allotted Commercial Paper aggregating to an amount of ₹250 crores.
Paisalo Digital Ltd : Board approved issuence of debentures 2,500 Non-Convertible Debentures each having a face value of Rs. 1,00,000/- aggregating upto Rs. 25,00,00,000/- .Private ype of issue : Placement through EBP Platform .
Tata Consumer Products Limited : Board has sanctioned the Scheme of Amalgamation of NourishCo Beverages Limited, Tata SmartFoodz Limited, and Tata Consumer Soulfull Private Limited with Tata Consumer Products Limited.
Pearl Global Industries Limited : Board announces successful completion of raising of funds amounting to ~Rs. 149.50 crores by way of Qualified Institutions Placement (“QIP”)”.
WSFx Global Pay Limited : Board has considered and approved the proposal of opening the new branches in the state of State of Andhra Pradesh and Goa. (ISprout Amaravati, Benzcircle, Vijayawada, Andhra Pradesh, India August 16, 2024 and Goa Dempo Trade Centre, Patto Centre, Panjim, Goa) .
EMS Limited : company has received a letter of Acceptance for Development of Water Supply and Sewerage System with 18 years O&M in Vikas Nagar Dehradun, Uttarakhand. The order value is approximately Rs. 53,519.42 Lacs wherein EMS limited is having 95 % share with the Other JV Partner.
Goel Food Products Limited : The Board has fixed July 31, 2024, as the Record Date for determining entitlement of Members to Dividend and Issue of Bonus Shares.
Welspun Living Limited : Board of Directors consider agenda for Buyback of Equity Shares of the Company at its meeting scheduled to be held on Wednesday, July 24, 2024.
AYM SYNTEX LIMITED : The Company has received an Order from Daman GST authorities with a demand aggregating to Rs. 23,63,726/-. The said demand pertains to ITC claimed by the company as per the provisions of the GST law in the financial year 2019-20.
Diligent Media Corporation Limited : The Company has received an Order dated July 16, 2024 from the Office of Dy. Commissioner of State Tax, Mumbai, Department of Goods and Service Tax. Demand of Rs. 2,25,45,000 /-.
Aster DM Healthcare Limited : Malabar Institute of Medical Sciences Limited , a material subsidiary of Aster DM Healthcare Limited, has entered into definitive agreements on 19th July, 2024 to acquire additional 25% stake in Usolar Assetco Two Private Limited from U-solar Clean Energy Solutions Private Limitedon 19th July, 2024.
IndusInd Bank Limited : Board approved Raising of funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount of Rs. 20,000 crore.
Jubilant Pharmova Limited : USFDA determines inspection classification of ‘Voluntary Action Indicated’ for the Radiopharmaceuticals manufacturing facility at Montreal, Canada.
Zaggle Prepaid Ocean Services Limited : Zaggle has entered into an agreement with PNB MetLife India Insurance Company Limited.
Vedanta Limited : Board approved the issue and allotment of 19,31,81,818 Equity Shares to eligible qualified institutional buyers at an issue price of ₹ 440 per Equity Share which includes a discount of ₹ 21.26 per Equity Share against the floor price of ₹ 461.26 per Equity Share, aggregating to ₹ 84,99,99,99,920 pursuant to the Issue.
Bhatia Communications & Retail (India) Limited : Board approved To accelerate business growth further and to augment the long-term financial resources of the Company through raising of funds, aggregating amount of up to Rs. 36,20,80,000/- .
Nila Infrastructures Limited : The Company has entered into an amendment of the work order and thereby value of the work order is increased by INR 10.16 Crores.
SPORTKING INDIA LIMITED : Board has considered and approved the Sub-division/ split of 1 equity share having face value of Rs. 10/- each into 10 (ten) equity shares having face value of Rs.1/-each.
HMA Agro Industries Limited : The company has entered into the Facilities Agreement with ALM Food Products Limited, Punjab and A L M Industries Limited, Saharanpur.
G.R. Cables Limited : Board has accorded its approval for sale of land in the name of the Company, having clear and marketable titles land admeasuring Acres 7 and 20 Guntas located at Rangareddyguda Village, Rajapur Mandal, Mahabubnagar District ,Telangana, India.The proposed consideration is Rs.2,02,50,000/.
Panorama Studios International Limited : The Board has fixed July 31, 2024 as Record Date’ for the purpose of determining the eligibility of shareholders of the Company for Sub-division/Split of each fully paid-up equity share having face value of Rs.10/- each be Sub-divided into 2 fully equity shares having Face value of Rs.5/-.
KPI Green Energy Limited : Company has received a Letter of Award (LOA) from MAHAGENCO. This award is for the development of a 100MWAC Solar Power Project, which includes an EPC package with land and three years of Operation and Maintenance (O&M). The project is part of the tender for the development of a cumulative capacity of 600 MWAC Solar-PV Power Projects at various locations in Maharashtra under the RE Bundling Scheme, as per RFX No. 3000042146 issued by MAHAGENCO.
Vishal Fabrics Limited : Board meeting to be held on July 27th 2024,to Proposal for raising funds. one or more instruments including of Equity Shares, convertible instruments, any other securities by any of the permissible means including preferential allotment, rights issue, QIP.
PC Jewellers: Bank of Baroda vide its letter dated July 18, 2024, which was received by the Company on July 20, 2024, has conveyed its approval to the One Time Settlement (“OTS”) proposal submitted by the Company
Vantage Knowledge Academy Ltd : The company Unveils New Edutech Venture - VANTAGE PRO
HDFC Bank : HDFC Bank has decided to undertake the sale of its 100% stake in HDFC Edu using the Swiss challenge process and has entered into a binding term sheet with an interested party
Swastika Investmart: the Board of Directors of the Company held today, i.e. Saturday, 20th July, 2024, has inter alia considered and approved Split of fully paid up equity shares of the Company 1 into 5
Shraddha Prime Projects Limited: The company to develop one of the largest redevelopment project - SHRADDHA PARK CITY in Western Suburbs – Borivali East.
IRCTC: The government upgraded the company to 'Schedule A' central public sector enterprise from 'Schedule B'.
Vodafone Idea: The company approved third tranche allotment of shares worth Rs 614.5 crore to Nokia India and Ericsson India. The shares to be allotted at an issue price of Rs 14.80 per share
Techno Electric & Engineering: The company raised Rs 1,200 crore via QIP at a floor price of Rs 1,440 per share.
SpiceJet: The company's auditor issued a 'Qualified Opinion' on FY24 accounts and flagged non-compliance with various laws and regulations
Indian Bank: The central government extended the term of office of Shanti Lal Jain as managing director and chief executive officer effective Sept. 1 to Dec. 31.
HDFC Life Insurance: The company received a rectification order for tax demand revised from Rs 4,179 crore in March to Rs 1,868 crore.
Anant Raj: The company's unit entered into MoU with Google to provide AI-infused solutions for data infrastructure & Security
Mahindra & Mahindra: The automaker announced its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio
Shriram Properties: The company appoints Gopalakrishnan J, currently group chief financial officer, as executive director and group chief executive officer effective July 20
*News Headlines from Business News Agencies:*
*Business Standard*
Rural demand for two-wheelers reviving in the first half of 2024: FADA
Vedanta Ltd acquires two critical mineral blocks in Karnataka, Bihar
India's per-capita income to surge by 5.4% annually, says report
ONGC acquires Equior stake in Azerbaijan oilfields for $60 million
Global electricity demand forecast to grow by around 4% in 2024: IEA report
HDFC Bank Q1 result: Net profit up 35% at Rs 16,175 cr, NII at Rs 29,837 cr
PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop
Tea industry seeks higher RoDTEP rates to make exports competitive overseas
Goyal cites ease of doing, other steps to attract US investors to India
Boeing sees 20-yr jetliner market doubling as industry fights disruptions
Nigeria slaps $220 mn fine on Meta over violation of data protection laws
India's agriculture exports drop 3% to $5.88 bn in Q1 on Red Sea crisis
Govt sets up 22-member panel for base year revision of price indices
*Economic Times*
Coal India ventures into non-coal mineral mining with graphite project
FPIs net buyers of Indian equities at Rs 30,772 crore in July so far.
SpiceJet board to consider fund raise via QIP on July 23
India agrees to positively consider providing Rs 1,500 crore economic stimulus to Bhutan
Mutual funds had minimal impact from global Microsoft systems outage: AMFI
Pearl Global Industries raises Rs 149.5 cr through QIP issue
Kotak Mahindra Bank increases customer base, customer assets by 20% YoY
Citigroup sees India luring $100 billion in foreign investment
SaaS startup AiDash unveils new AI centre of excellence in Bengaluru
Tata Play FY24 results: Net loss widens to Rs 353.9 crore, revenue dips 4.3%
Kharif crop sown area soars to over 704 lakh hectares, pulses area increases, cotton declines
Microsoft systems global outage: 5 Indian AMCs report disruptions in functioning
Boeing sees significant improvement in 737 MAX factory production
*Mint*
RBI sells $406 million in Indian Bonds as Index Inclusion boosts inflows: Report
Cosmetics, ayurveda products and lifesaving medicines fail drug regulator test
Airbus eyes eight locations for its H125 helicopter assembly line in India
India must curb steel dumping, revisit Asean FTA, say JSW Steel's Acharya
Bharti Airtel awarded network project by CBDT
Union Bank Q1 results: Net profit rises 13.66% to ₹3,678.85 crore in Q1FY2025
Microsoft outage: IndiGo to process refund to affected flyers
Occidental Planning to Sell Bonds in Up to Five Parts
SBI can restrict offerings to only SBI MF schemes: Sebi chairperson Buch
Global tech outage: CrowdStrike may see fallout as customers rethink dependence
Unclaimed deposits and dividends: Govt revamps corporate disclosure regime
Ed-tech giant Byju's faces total shutdown if insolvency proceeds, says CEO
HCL Tech to link leave policy with employees' office attendance: Report
*Q1FY25 EARNING CALENDAR 22.07.2024*
*COFORGE*, CYIENTDLM, DODLA, GREENLAM, IDBI, *IOB*, JSFB, MAHLOG, MAHSCOOTER, MOSCHIP, MRPL, SOLARA, SUPREMEIND, *SUZLON*, *UCOBANK*, WENDT, *ZENSARTECH*, ZFCVINDIA
*Coforge Ltd*
• Rupee Revenue expected at Rs 2427 crore versus Rs 2358 crore
• EBIT expected to be seen at Rs 314 crore versus Rs 301 crore
• EBIT margin expected to be seen at 12.9% versus 12.7%
• Net profit expected to be seen at Rs 229 crore versus Rs 223 crore
*Q1FY25 EARNING CALENDAR 23.07.2024*
*BAJFINANCE*, DCMSHRIRAM, *HINDUNILVR*, ICICIPRULI, ISEC, KAJARIACER, M&MFIN, PARAGMILK, SCHAEFFLER, *SRF*, SSWL, THYROCARE, *TORNTPHARM*, *UNITDSPR*, WELSPLSOL
VEDANTA: CO DECLARED 'PREFERRED BIDDER' FOR NICKEL CHROMIUM AND PGE BLOCKS IN KARNATAKA AND BIHAR
ZYDUS LIFE: CO RECEIVES APPROVAL FROM COFEPRIS OF MEXICO TO MARKET  BHAVA™ (BEVACIZUMAB BIOSIMILAR) TO TREAT VARIOUS CANCERS
*Ultratech cement Q1FY25 concall update*
*Outlook: Mid to long term positive*
1. Sales volume came at 32 Mnt vs expectation of 31.3 Mnt, QoQ 35.1 Mnt YoY 30 Mnt.
2. Realisations (Rs./tonne) came at 5646.74 vs QoQ 5817.36, YoY 5920.26
3. EBITDA/tonne (Rs./tonne) came at 949.78 vs QoQ 1172.06, YoY 1017.75. EBITDA/tonne was lower because of lower realisations and higher one time other expenses.
4. Fundamental story remains unchanged.
5. Rural grew significantly in the quarter. Infra was slow.
6. Other expenses during the quarter were high on account of some one time expenses. It will normalize going forward.
7. WHRS capacity is increasing.
8. Lead distance has further reduced.
9. Rural demand and overall cement demand expected to pick up. Q2 will be soft because of monsoon.
10. Price improvements seen from 2nd half.
11. India cements stake is a non-controlling financial investment only. Management can’t comment beyond that as of now.
12. Power and fuel cost is expected to improve going forward.
13. Industry growth in terms of volumes for the full year expected to be 7-8%. Ultratech’s expected to be twice of that.
*Stock is trading at EV/EBITDA of 17.5x FY26E EBITDA*
*Kotak Mahindra Bank Q1FY5 Concall Update*
(Nirmal Bang Retail Research)
*Outlook- Neutral*
#NIM came at 5.02% vs QoQ 5.28% reduced 26 basis points QoQ, As per bank NIM reduced due to RBI embargo had an impact on high yield unsecured book and deployment of liquidity at lower yield assets.
#Due to RBI order, unsecured book growth was restricted in the Q1, leading to a decline in unsecured loans.
#Kotak Mahindra Bank disinvested 70% stake in Kodak General Insurance to Zurich insurance for a consideration of 5,560 CR. resulting in substantial profit impact.
*Financial Performance and Other Highlights:*
• Advances came at Rs. 389957 Cr (19% YoY, 3.7% QoQ).
• NII came at Rs. 6842 Cr (10% YoY)
• Credit Cost came at 0.6% vs YoY 0.5%, QoQ 0.3%
• Slippages came at Rs. 1358 Cr vs QoQ Rs. 1305 Cr with slippage ratio of 1.39% vs QoQ 1.39%
• Gross NPA came at Rs. 5477 Cr vs QoQ Rs. 5275 Cr at 1.39% vs QoQ 1.39%, Net NPA came at Rs. 1376 Cr vs QoQ Rs. 1271 Cr at 0.35% vs QoQ 0.34%
• Provision Coverage Ratio came at 75 % vs (76% QoQ, 78%. YoY).
• Operating costs increased by 14% YoY, including payroll related hikes and potential cost estimates in line with earlier guidance.
• Credit costs at the bank rose to 55 bps annualized due to losses in unsecured retail books and micro credit business segments.
• Passenger car finance business assets grew to 35896 CR with a 21% growth in Q1.
• Bank is Focus on higher (RoE) with negligible credit cost and focus on capturing trade and transaction flows.
• Possibility of the focus shifting towards secured loans for future growth and a lower guidance of 15% growth rate.
• Focus on trade and transaction banking, with significant growth in trade and supply chain.
• Capital Market subsidiaries like kotak Securities and kotak AMC also saw significant growth, and Growth seen in consumer banking, business banking, including mortgages and secured/unsecured business.
• Bank Plans to expand branch network and reduce cost income ratio, Focus on increasing branch network to 3,000-3,500 branches in 5 years, to have a significant impact on revenue generation.
• Expect to decrease cost income ratio over the next 4-5 years through technology and scale transformation.
• Unsecured retail sector showing signs of stress, especially in lower ticket credit card segment.
• Expecting a positive impact on margin by getting more low-cost deposits and disbursing higher yield unsecured loans.
• Stock is trading at P/E of 15.4x FY25E EPS & 3.6x trailing P/Adj. BV (adj. for subsidiaries).
Stocks Ban in F&O:
Balramchini,
Bandhanbnk,
Gmrinfra,
Hal,
Hindcopper,
Indiacem,
Pel,
Sail,
Vedl
*Kotak Mahindra Bank Q1FY5 Concall Update*
(Nirmal Bang Retail Research)
*Outlook- Neutral*
#NIM came at 5.02% vs QoQ 5.28% reduced 26 basis points QoQ, As per bank NIM reduced due to RBI embargo had an impact on high yield unsecured book and deployment of liquidity at lower yield assets.
#Due to RBI order, unsecured book growth was restricted in the Q1, leading to a decline in unsecured loans.
#Kotak Mahindra Bank disinvested 70% stake in Kodak General Insurance to Zurich insurance for a consideration of 5,560 CR. resulting in substantial profit impact.
*Financial Performance and Other Highlights:*
• Advances came at Rs. 389957 Cr (19% YoY, 3.7% QoQ).
• NII came at Rs. 6842 Cr (10% YoY)
• Credit Cost came at 0.6% vs YoY 0.5%, QoQ 0.3%
• Slippages came at Rs. 1358 Cr vs QoQ Rs. 1305 Cr with slippage ratio of 1.39% vs QoQ 1.39%
• Gross NPA came at Rs. 5477 Cr vs QoQ Rs. 5275 Cr at 1.39% vs QoQ 1.39%, Net NPA came at Rs. 1376 Cr vs QoQ Rs. 1271 Cr at 0.35% vs QoQ 0.34%
• Provision Coverage Ratio came at 75 % vs (76% QoQ, 78%. YoY).
• Operating costs increased by 14% YoY, including payroll related hikes and potential cost estimates in line with earlier guidance.
• Credit costs at the bank rose to 55 bps annualized due to losses in unsecured retail books and micro credit business segments.
• Passenger car finance business assets grew to 35896 CR with a 21% growth in Q1.
• Bank is Focus on higher (RoE) with negligible credit cost and focus on capturing trade and transaction flows.
• Possibility of the focus shifting towards secured loans for future growth and a lower guidance of 15% growth rate.
• Focus on trade and transaction banking, with significant growth in trade and supply chain.
• Capital Market subsidiaries like kotak Securities and kotak AMC also saw significant growth, and Growth seen in consumer banking, business banking, including mortgages and secured/unsecured business.
• Bank Plans to expand branch network and reduce cost income ratio, Focus on increasing branch network to 3,000-3,500 branches in 5 years, to have a significant impact on revenue generation.
• Expect to decrease cost income ratio over the next 4-5 years through technology and scale transformation.
• Unsecured retail sector showing signs of stress, especially in lower ticket credit card segment.
• Expecting a positive impact on margin by getting more low-cost deposits and disbursing higher yield unsecured loans.
• Stock is trading at P/E of 15.4x FY25E EPS & 3.6x trailing P/Adj. BV (adj. for subsidiaries).
VEDANTA: CO DECLARED 'PREFERRED BIDDER' FOR NICKEL CHROMIUM AND PGE BLOCKS IN KARNATAKA AND BIHAR
GLOBAL MARKET UPDATES
• US Futures Trade Lower After Cash Market Falls On Friday
• US Market Ends Lower, Benchmark Indices See Worst Weekly Loss In Nearly 3 Months
• Joe Biden Drops Out Of US 2024 Presidential Election Race, Endorses Kamala Harris
• For The Week, S&P, Nasdaq Post Biggest Weekly Losses In 3 Mths, Down 2% & 4% Respectively
• Alphabet, Tesla In Focus This Week, Cos To Report Their Quarterly Earnings On Tuesday
• Crowdstrike Falls 11% While Peers Palo Alto Networks & SentinelOne Rise 2% &7. Respectively
Reliance Industries Q1 Highlights
Structural business dynamics remain constructive
Geopolitics, weather, outages, new refining capacities driving volatility
44% increase in KG-D6 gas production partly offset by lower price realisation
Average KG-D6 production at 28.7 MMSCMD of gas & 21,640 bbl/day of condensate
Structural drivers of macroeconomics impact O2C business
Net debt at ₹1,12,341 cr; capex of ₹28,785 cr covered by cash flow
Jio becomes largest company in the world on data consumption
Jio saw 33% in data consumption
Data consumed per consumer at 30 GB/Month
Consumer business & strong upstream business offset weak O2C
Retail growth backed by consumer electronics & grocery
Fashion & lifestyle segments saw tepid demand in retail
Discretionary demand lower in retail business in last quarter
Domestic demand for fuel, polymer, polyester was strong
(Source: CNBC-TV18)
MADHABI PURI BUCH, SEBI CHAIRPERSON |
• F&O Volume Surge Has Now Become A Macro Issue & Not Just A Micro Issue Of Investor Safety
• Time To Consider If Household Savings Are Going Into Speculation Instead Of Capital Formation
• No Reason To Be Concerned About Market Valuations From A Regulatory Stance At The Moment
• Came Up With Latest Consultation Paper To Allow MFs To Offer New Asset Class Which Will Be Allowed To Offer Derivatives
• Thought It Would Be More Prudent To Allow Derivative Products Within 'Safe Space' Offered By MFs
1-HDFC BANK
OK numbers, Little improvement in NIM
2-RIL
Consolidated numbers are good, O&G, Retail & Jio strong, O2C slightly weak
3-KOTAK BANK
Weak numbers, One-time Gain at Rs 3,519.90 Cr
4-WIPRO
Very weak number
Dollar Revenue Falls 1.2% QoQ
CC Revenue Falls 1% QoQ Vs Poll Of 0.3% Growth
5-JSW STEEL
Weak numbers
6-TEJAS
Very Good numbers
PAT at 77cr vs -26cr
7-SHAKTI PUMPS
PAT at 93 Cr vs 1cr, Q4 at 89 Cr
OPM at 24% vs 21% QoQ, FY'24 Q1 OPM was 7%
8-ANANT RAJ
MoU with Google LLC for data center infra, DC managed services & cloud platform to various public & private enterprises
9-RPG LIFE SCIENCES
Good numbers,
Margin at 23.6% vs 21.8% (YoY)
PAT up 21.3% at 26.8 cr vs 22.1 cr (YoY)
10-PATANJALI FOODS
Good numbers
Quarterly PAT jumped nearly 3X to Rs 262.90 Cr
PAT margin at 3.67% vs 1.13%

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