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June 10, 2024

India - Viksit Bharat - USD 30 Trillion Economy
Purely Directional analysis
USD 30 Trillion Economy - GDP Growth at 8% for 20+ years
Power Sector Capex only for Power Capacities- Power is the basic essential for growth of the economy
8% Consumption Growth - USD 3 Trillion
9% Consumption Growth - USD 4 Trillion
10% Consumption Growth - USD 5 Trillion
Power capacity will grow to 2800 GW in-line with China capacities - 20x Capacity growth
Implies Sector Market Opportunity growth at 30-50x
Huge Huge long term stories one can buy & forget
मोदी 3.0 मंत्रीमंडल
कैबिनेट मंत्री - 30
MoS (स्वतंत्र प्रभार) - 05
MoS - 36
Prime Minister
Narendra modi
Cabinet Ministers
1. Rajnath sinh
2. Amit Shah
3. Nitin Gadkari
4. J P Nadda
5. Shivraj sinh Chauhan
6. Nirmala Sitaraman
7. Dr S Jayshankar
8. Manohar Lal Khattar
9. H D Kumarswami
10. Piyush Goyal
11. Dharmendra Pradhan
12. Jitan ram Manji
13. Rajiv Ranjan Singh
14. Sarvanand Sonowal
15. Dr Virendra Kumar
16. Kinjarapor R Naidu
17. Prahlad Joshi
18. Jual oram
19. Giriraj Sinh
20. Ashwini Vaishnav
21. Jyotiradiya Sindhiya
22. Bhupendra Yadav
23. Gajendra sinh Shekhawat
24. Annapurna Devi
25. Kiran Rijiju
26. Hardipsinh Puri
27. Dr Mansukh Mandaviya
28. Gangapuram k Ready
29. Chirag Paswan
30. C R Patil
MoS (independent)
31. Rao Indrajit sinh
32. Dr Jitendrasinh
33. Arjun Ram Meghwal
34. Pratap Rao Jadhav
35. Jayant Chaudhary
MoS
36. Jiten Prasad
37. Sripad nayak
38. Pankaj Chaudhary
39. Kishan Pal
40. Ramdas Athawale
41. Ramnath Thakur
42. Nityanand Rai
43. Anu priya Patel
44. V Somnna
45. Dr Chandrashekhar
46. SP Sinh Baghel
47. Shobha Karan Raje
48. Kirtivardhan Sinh
49. B L Varma
50. Shantanu Thakur
51. Suresh Gopi
52. Dr L Murugan
53. Ajay Tamta
54. Bandi Sanjay Kumar
55. Kamlesh Paswan
56. Bhagirath Chaudhary
57. Satishchandra Dubey
58. Sanjay Sheth
59. Ranjit Singh
60. Durga Das uike
61. Raksha Nikhil Khadse
62. Sukanto Mazumdar
63. Savitri Thakur
64. Pokhan Shahu
65. Dr Rajabhushan Chaudhary
66. Bhupati Raju Verma
67. Harsh Malhotra
68. Nimuben Bambaiya
69. Muralidhar mor
70. George Korean
71. Pavithra Margarita
GIFT Nifty -54 pts (23280) from last trade 23334 ,
Nikkei +178 pts ,
Hangseng clsd ,
Now @6.56am .
Dow -87.18 pts ,Nsdq -23.84 pts, S&P
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Today's Corporate Action
10th June Ex Date
Dr. Lal PathLabs Ltd
Final Dividend - Rs. - 6.0000
MOTILAL OSWAL FINANCIAL SERVICES LTD
Bonus issue 3:1
NELCO LTD
Dividend - Rs. - 2.2000
Today's Key Results/Board Meetings
10-Jun-24
BISIL
General
BPLPHARMA
Preferential Issue of shares;
A.G.M.
CALSOFT
Right Issue of Equity Shares;Genera
DHANCOTServicesGeneral10 Jun
DHYAANITR
General;Audited Results
EMERALL
Right Issue of Equity Shares
GNRLOil,
Increase in Authorised Capital;General;Rights Issue
GUJTLRM
Audited Results
KAVVERITEL
Issue Of Warrants;General
MACH
General;Audited Results
NLCINDIA
General
SEACOAST
Right Issue of Equity Shares;Increase in Authorised Capital;Preferential Issue of shares;General
WELCURE
General
Stock under F&O ban on NSE
10-Jun-24
1 BALRAMCHIN
2 SAIL
3 ZEEL
India Daybook – Stocks in News
Ward wizard: Company gets order worth $1.29 billion from Beulah International Development Corporation to revolutionize Philippines public transport with electric vehicles (Positive)
KEC Int: Company gets new orders worth Rs 1,061 crore across business verticals. (Positive)
Artson Engineering: Company gets Rs 126 crore order for engineering and construction at Guwahati International Airport (Positive)
Vakrangee: Company Partners with Tax2Win for Offering Income Tax Return Filing Services, GST Registration / Return and other Value Added Services on Pan India Basis. (Positive)
*IDBI Bank: Gets income tax order determining Rs 2,701.6 crore refund for AY 2016-17. (Positive)
RVNL: Company emerges lowest bidder for a project of Southern Railways worth ₹156.47 crore (Positive)
Kotak Mahindra Bank: RBI green signal to Kotak Mahindra General Insurance for 70% stake sale to Zurich Insurance. (Positive)
Raymond: Company to redevelop residential project in Bandra estimated to have revenue potential of over Rs 2,000 crore (Positive)
Gulsha Polyols: Company Updated Regarding Successful Trail Run For Grain Based Ethanol Plant Of 250 Klpd Capacity At Goalpara, Distt. Assam. (Positive)
Sharda Motor: Company plans to buy back up to 10,27,777 fully paid-up equity shares at INR 1,800 per share. (Positive)
Lupin: Company signs business transfer agreement with arm Lupin Life Sciences for trade generics business in India. (Positive)
Adani Green: Company to set up two wind farms in SriLanka's Mannar town and Pooneryn villages (Positive)
HDFC AMC: Company has approved the declaration of Interim Dividend of Rs. 70/- per equity share (Positive)
Railtel Corp: Company gets order worth Rs 81 crore from National Informatics Centre Services for ICT infra (Positive)
Samvardhana Motherson: Company and its subsidiary SMRP B.V have been upgraded to "Baa3 Stable / Investment Grade" ratings by Moody's. (Positive)
Ami Organics: Company says the inspection has concluded successfully on June 7, 2024 without any critical/major observation (Positive)
EIH Associated Hotels: Board meeting on June 14 to consider issuing Bonus Shares (Positive)
Godawari Power: Board to consider a buyback of equity shares on June 15. (Positive)
Adani Enterprises: Adani Airports handles over one million tonnes of Cargo in financial year 2024 to capture a 30.1% market share (Positive)
PFC: Maithan Alloys acquires shares worth Rs 101 crore of Power Finance Corp (Neutral)
Happy Forging: board gives in-principle approval for setting up solar power plant with investment of up to Rs 120 crore (Neutral)
Thermax: Nalanda Capital sells 1.2% stake in company for Rs 765 cr (Neutral)
Tata Motors: Company launched Altroz Racer, prices start from Rs 9.49 Lakh (Neutral)
Petronet LNG: Petroleum board draft regulations pose challenges for Petronet LNG pricing strategy. (Neutral)
HDFC Bank: Announces a reduction in its home loan rate for the 2-year tenure. (Neutral)
ICICI Bank: SEBI issues administrative warning to ICICI Bank on outreach for ICICI Securities delist. (Neutral)
Borosil Renewables: Company board approves raising up to Rs 450 crore via rights issue of shares. (Neutral)
Dalmia Bharat: Company has received reaffirmation in credit rating for bank facilities at CRISIL AA+; Stable / CRISIL A1+. (Neutral)
MPhasis: BCP Topco IX Pte likely to sell 10.6% stake in Mphasis via block deals; base price at ₹2,350/share. (Neutral)
Dr Reddy: Company’s manufacturing unit in Andhra Pradesh gets 4 observations from US FDA. (Neutral)
Jubilant Pharmova: U.S. FDA completes audit of contract manufacturing facility at Washington, issues 3 observations (Neutral)
Gland Pharma: Company appoints Srinivas Sadu as Executive Chairman & CEO of the company w.e.f. June 10, 2024. (Neutral)
Suzlon: Independent director-Mark Desaedeeleer resigns citing corporate governance standards (Neutral)
Jindal Saw: Company has received reaffirmation in credit rating for non-convertible debentures of Rs 500 crore at CARE AA; Stable. (Neutral)
IIFL Finance: RBI appointed auditor concludes audit in IIFL Finance case. (Neutral)
Inox Wind: Company incorporates 4 wholly-owned subsidiaries (Neutral)
Elgi Equipment: Elgi USA in its Joint Venture G3 Industrial Solutions LLC, USA, was expected to be completed and closed by 31 May 2024. (Neutral)
Uco Bank: To hike MCLR on 3-month and 1-year tenures by 5 bps w.e.f. June 10 (Neutral)
APL Apollo: Company’s promoter entity pares 1% stake for Rs 485 cr (Neutral)
Max Estate: Corporate Guarantee provided to Max Square (a Subsidiary Company) upto Rs 400crs (Neutral)
PTC India: Net profit falls 30% to Rs 91 cr in Q4 (Negative)
Stock to watch
1) RELIANCE IND is on the verge of a Flag pattern breakout on the daily chart. The stock has formed a Bullish candle supported with strong volumes. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 2890 and can test 3200 support at 2768. Long term view.
2) TCS has witnessed a Falling channel pattern breakout on the daily charts. The stock has formed a Bullish candle on the weekly charts. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips 3830 and can test 4255 support at 3589. Positional view.
3) DALMIA BHARAT is on the verge of a Falling channel breakout on the daily charts. The stock has formed a High wave candle on weekly charts. The momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 1760 and can test 2003 support is at 1649. Positional view
4) POLYPLEX has corrected sharply from 2870 to 751 on the daily charts. The stock has formed an Engulfing Bullish candle. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 808 to 790 and can test 900 support at 749. Positional view
5) TITAN has witnessed a Falling wedge breakout on the daily charts. The stock has formed an Engulfing Bullish pattern on the daily chart. Momentum Indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 3380 and can test 3660 support is at 3200. Positional view.
6) ITC is hovering in a Multi-year Triangle pattern on the daily charts. The stock has formed a Hammer candle with volumes on the weekly chart. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 433 and can test 465 support at 411. Positional view
7)NATCO PHARMA is on the verge of a Flag pattern breakout on the daily charts. The stock has formed a Hammer on the weekly charts. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 1050 and can test 1250 support is at 951. Positional view
This content is for BoFA Sec on MGL
Buy, TP Rs 1670
FY25 vol guidance of +6-7% YoY growth retained
Co to add 90 CNG stations(including 30 in UEPL)
CNG CV promotional schemes & alleviating concerns regarding range, pricing, model options to boost overall CNG vols
UBS on MGL
Buy, TP Rs 1600
Analyst meet takeaways
Investing in infrastructure to drive volume growth
To benefit from potential inclusion of natural gas in GST
LNG in transportation could scale up in coming years
Foraying into electric mobility
MOSL On MGL
Buy, TP Rs 1565
Management reiterated
1)overall 6-7% vol growth target, with atleast 10% vol growth from recently acquired UEPL
2)Current APM gas allocation stands at 70% & shortfall is being compensated by additional HPHT vols
3)Rs10b capex guided for FY25
MS on Adani Ports
OW, TP Rs 1517
Kolkata port: O&M contract win
Large hinterland and regular service calls from some South East Asian ports.
APSEZ sees synergies with its ports assets at Colombo and Vizhinjam
MS on Kaynes Tech
OW, TP Rs 3845
Revenue target of US$1bn by F28e; 75% to be accounted by core EMS.
Margins are industry leading, to further expand by 100bps in F25e.
JPM on Asian Paints
Neutral, TP Rs 2870
Despite rising competitive intensity on sector, APNT is not unduly worried
Wider foray into affordable paints segment with Neo Bharat Latex is off to an encouraging start
Home décor foray is strategic & will help widen reach & brand loyalty
Nomura on Ceat
Neutral, TP Rs 2820
According to management, this would be led by a strong network push, better dealer profitability, and product innovation
Maintains that >25% of its revenue will come from exports in FY26E (19% in FY24)
MS on OMCs
Integrated margins are tracking 20-30% above midcycle & should lead to re-start of earnings upgrade cycle esp. into upcoming qtry earnings
Refining margins are recovering as well
Potential re-start of daily pricing mechanism provides multiple upsideeducational purposes only. Please consult your financial advisor before investing/trading.
Nifty closed @23,290.15 (+468.75) and Sensex @76,693.36 (+1,618.85) on Friday GIFT Nifty was trading at 23,281 (as of 7:30 a.m)
FIIs net bought equities in cash to the tune of Rs 4,391 cr whereas DIIs sold equities in cash worth Rs 1,290 cr on June 07 2024
Modi 3.0 Bigwigs stay on, allies bag 5 posts
Three large investors sold stake in 3 cos before RBI action
SEBI proposes tighter rules for F&O trading including liquidity norms in cash for underlying stocks and maximum limits on open F&O contracts per stock
Ather promoters set to drive stake 6-7% up before IPO
PayTM’s share of UPI transactions fell for a fourth straight month and 8.1% in May compared to 13% in Jan
Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion
Suzlon's independent director Marc Desaedeleer resigns citing governance, transparency issues
Blackstone to sell a 10.6% stake in Mphasis through block deals at a base price of Rs 2,350 per share
IDBI Bank receives income tax refund order worth Rs.2702 crore
Borosil Renewables to raise up to Rs.450 crore via rights issue
Ixigo’s Rs 120 cr IPO opens today
KEC International secures Rs.1,061 crore in new orders across multiple sectors
Adani Ports bags operation and maintenance contract for 5 years in Kolkata
IIFL Finance shares zoom 15% on conclusion of special audit by RBI
Dixon Technologies hits record high after announcing proposed joint venture with HKC
Leela eyes $2.5 bn valuation in rebound from bankruptcy
Indian ADRs: Infosys (+2.7%), Wipro (+2.5%) and Dr Reddy’s (+1.4%)

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