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July 13, 2023

*India Daybook – Stocks in News*
*Auro Pharma:* APL Healthcare receives approval from US FDA to manufacture & market Sevelamer Hydrochloride (Positive)
*Prestige Estate:* Registers 30% jump in sales at of Rs 3914.7 crore in Q1FY24 (Positive)
*Century Textiles:* Hindalco to sell Kalwa land to Century Textiles for Rs 595 cr (Positive)
*SpiceJet:* Chairman AjaySingh to infuse Rs 500 crore to shore up airline’s finances (Positive)
*Deep Industries:* Company bags a project worth Rs 130 cr From ONGC (Positive)
*Primo Chemicals:* Europe-based financial services group Societe Generale has bought 47.97 lakh equity shares (Positive)
*Dream Folks:* Company and Plaza Premium Group have announced a collaboration to include over 340+ Plaza Premium Lounges (Positive)
*Dr. Reddy’s:* Company’s proposed Rituximab biosimilar application accepted for review by USFDA, EMA and MHRA (Neutral)
*TCS:* Net profit at Rs 11,074 cr Vs poll of Rs 10,866 cr, Revenue at Rs 59381 cr Vs poll of Rs 59450 cr (Neutral)
*HCLTech:* Company to acquire German engineering services company ASAP Group for €251.1 million (Neutral)
*Lupin:* US FDA issues a Form-483 with two observations for Lupin’s Nagpur oral solid dosage facility (Neutral)
*Star Health:* Private equity firm Apis Growth 15 Limited has offloaded 52.84 lakh equity shares (Neutral)
*Texmaco Rail:* The board members will meet on July 17 to consider raising funds (Neutral)
*Star Housing:* The board members will meet on July 15 to consider raising funds (Neutral)
*Reliance Industries:* All existing contracts for July, August and September will expire on July 19. (Neutral)
*Venus Remedies:* Trading of Venus Remedies shares restricted by both BSE and NSE (Negative)
*HCL Tech:* Net profit at Rs 3534 cr Vs poll of Rs 3809 cr, Revenue at Rs 26296 cr Vs poll of Rs 26960 cr (Negative)
*Patanjali:* Floor price fixed at Rs 1000 per share, Patanjali Foods launches OFS to sell up to 7% equity (Negative)
*Delta Corp:* Equirus Wealth sold 25.32 lakh shares in the company (Negative)
*TCS Q1*
PAT At 11,074 Cr Vs Est `10,866 Cr
Revenue At 59,381 Cr Vs Est 59,450 Cr
EBIT At `13,755 Cr Vs Est Of `13,922 Cr
EBIT Margin At 23.2% Vs Est Of 23.4%
PAT 11,074 Cr Vs 11,392 Cr (QoQ)
Revenue 59,381 Cr Vs 59,162 Cr (QoQ)
EBIT 13,755 Cr Vs 14,488 Cr (QoQ)
EBIT Margin At 23.2% Vs 24.5% (QoQ)
$ Rev $7,226 Million Vs $7,233 Million
TCS Announces Interim Dividend Of `9/Sh
Order Wins At $10.2 Billion Vs $10 Billion (QoQ)
Attrition Rate At 17.8% Vs 20.10% (QoQ)
#Breaking | May #IIP at 5.2% Vs CNBC-TV18 poll of 4.9%; & Vs 4.2% (MoM)
#IIPData #IndustrialProduction
#Breaking | #June CPI #inflation at 4.81% Vs CNBC-TV18 poll of 4.6%; & Vs 4.25% (MoM)
*Patel Engineering Expects Rs 2 Lakh Crore Business Tenders, Says CFO Kavita Shirvaikar*
Patel Engineering Ltd. expects to receive business tenders worth Rs 2 lakh crore over the next two to three years.
The sectors set to drive this growth are hydropower, irrigation, and tunnelling, given the government’s focus on infrastructure development, Kavita Shirvaikar, chief financial officer at Patel Engineering, told BQ Prime.
According to her, the hydropower sector is expected to bring in approximately Rs 50,000 crore, while irrigation and tunnelling could contribute around Rs 90,000 crore each over the next two to three years.
These projects will help the company grow its order books, Shirvaikar said.
"Our order book of Rs 20,000 crore has an L1 component of Rs 2,000 crore, and the trend will continue in the coming years she said.
Patel Engineering—an engineering, procurement, and construction firm—secured orders worth Rs 7,700 crore in FY23. The growth trajectory is predicted to continue into FY24.
Targeted projects include irrigation ventures in Madhya Pradesh and Karnataka as well as hydro projects with major public sector units like the National Hydro Power Corp. and SJVN Ltd.
Patel Engineering—an engineering, procurement, and construction firm—secured orders worth Rs 7,700 crore in FY23. The growth trajectory is predicted to continue into FY24.
Targeted projects include irrigation ventures in Madhya Pradesh and Karnataka as well as hydro projects with major public sector units like the National Hydro Power Corp. and SJVN Ltd.
Shirvaikar said that hydropower and dams make up 60% of the company’s total order book, while irrigation projects represent another 21%, with the balance made up by tunnelling and other projects.
The company’s turnover crossed the Rs 4,200 crore mark in FY23, and projections for FY24 suggest a year-on-year growth of 15%.
Shirvaikar also expects an increase in operating margin, which has consistently remained in the 13–15% range over recent years.
*News Headlines from Business News Agencies:*
*Business Standard*
• Passenger vehicle sales up 2% YoY in June, 3W sales almost double: Siam
• TCS Q1FY24 result: Net profit up 16.8% YoY; revenue rises to Rs 59,381 cr
• Walt Disney Co weighs options for struggling TV business in India
• BFSI, tech clients spending more on cost-optimisation deals: Wipro chairman
• Hinduja Group dials lenders to raise $1 bn for Reliance Capital acquisition
• Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14
• Glida plans to set up 3,000 EV charging points pan-India by March 2025
• Govt directs Nafed, NCCF to procure tomato from AP, Karnataka, Maharashtra
• Reliance Retail among three prospective buyers for Future Enterprises
• FSSAI set to meet international regulators on food safety system
• Data protection bill could cap penalty for data breach at Rs 250 crore
• Sterlite Power bags new orders worth Rs 1,400 cr in March quarter
• Auto component makers stepping up investments in green mobility business
*Economic Times*
• RBI looking at additional loans for home buyers of stuck projects
• Vehicle loans outstanding rise 22 pc in May despite high interest rates
• Razorpay launches full-stack payments in Malaysia
• Vedanta has lined up partners for semiconductor venture: Chairman Anil Agarwal
• Indian cabinet allows lithium's commercial mining to charge up EV ambitions
• Countries agree to extend digital services tax freeze through 2024
• Power availability rose to 22.30 hrs in rural areas, 23.3 hrs urban since 2014: RK Singh
• Satya MicroCapital raises Rs 53 crore in ECB from German bank
• Utkarsh SFB Issue: retail portion booked over 3.5x
• SoftBank considering US listing for PayPay payments business
• Taiwan chip exports plunge 21% as device makers clear inventory
• Japan's second-largest lender Sumitomo Mitsui launches US digital bank
• Prestige Group registers 30% jump in sales at of Rs 3914.7 crore in Q1FY24
• Gujarat in talks with Foxconn for its semiconductor plant
*Mint*
• India’s June CPI inflation rises to 4.81% from 4.31% in May
• US annual consumer inflation cools to 3%, lowest since 2021
• Centre approves release of ₹7,532 crore to 22 states under Disaster Response Fund
• Dilip Buildcon gets provisional completion certificate for a project worth ₹860.5 cr
• TCS attrition rate declines to 17.8%, 523 employees added in June quarter
• Beijing's regulatory crackdown wipes $1.1 trln off Chinese Big Tech
• Maruti Suzuki Fronx CNG launched in India at ₹8.41 lakh
• Ather Energy set to launch 450S electric affordable scooter.
• Domino’s Pizza Strikes Deal With Uber in Search for New Sales
• Wipro launches ai360, will invest $1 billion into AI the next three years
• Bharti Airtel buys 20.6% stake in Lavelle Networks, total stake to be 45.6%
• Coal India subsidiary SECL to develop 600 MW solar projects
• Disney explores strategic options for its business in India: Report
• KPMG to expand ties with Microsoft, will spend $2 billion in AI, cloud services
*Stocks in F&O Ban_13.07.2023*
HINDCOPPER
IBULHSGFIN
INDIACEM
MANAPPURAM
PNB
ZEE ENT
*Stocks added by Mutual Funds in June 2023*
Aether Industries
TD Power
CreditAccess
CMS Info
KIMS
Solar Industries
Coforge
MRPL
Kolte Patil
Coal India
Bajaj Auto
Coal India
LIC
IRCTC
Jindal Steel & Power
Adani Green
Adani Transmission
Adani Enterprises
JSW Steel from tweet
*Stocks in News*
• Oil Stocks: To be in focus after Brent crude futures hit $80.05 a barrel amid signs of tightening supplies and slower-than-expected U.S. inflation.
• Titan Company, Kalyan Jewellers India, and Jewellery Stocks: The Central Government has restricted the import of unstudded gold and certain gold articles. Importers would require permission from the government to import these gold products. Restrictions will not apply to imports under the India-UAE free trade agreement.
• JSW Steel: The company will replace HDFC on the S&P BSE Sensex from July 13. On July 5, the stock exchange made the announcement. HDFC, which merged with HDFC Bank earlier this month, will delist from the benchmark index today.
• Patanjali Foods: The companyâ€™s promoter will sell a 7% stake over two trading days. Patanjali Ayurved will sell 2.53 crore shares, or a 7% stake, in Patanjali Foods on July 13 and 14. The floor price of the offer shall be Rs 1000 apiece. The promoter will have the option to additionally sell up to 2% in the event of oversubscription.
• SpiceJet: Promoter to invest Rs 500 crore to strengthen the airline's financial position. Ajay Singh, also the CMD of SpiceJet, will infuse capital through equity and or convertible securities on a preferential basis. Funds to be considered equity shares of promoters in the government's ECLG scheme.
• Dr. Reddyâ€™s Laboratories: The drugmakerâ€™s biologics license application for its proposed biosimilar rituximab has been accepted by the U.S. Food and Drug Administration, the European Medicines Agency, and the U.K. Medicines and Healthcare Products Regulatory Agency. The biosimilar will be used in the treatment of rheumatoid arthritis, non-Hodgkin's lymphoma, chronic lymphocytic leukaemia, pemphigus vulgaris, granulomatosis with polyangiitis, and microscopic polyangiitis.
• Aurobindo Pharma: The companyâ€™s unit, APL Healthcare, has received final approval from the U.S. Food and Drug Administration to manufacture and sell Sevelamer Hydrochloride Tablets in doses of 400 mg and 800 mg, equivalent to Renagel Tablets of Genzyme Corporation. The drug has an estimated market size of around $37 million for the twelve months ending May 2023, according to IQVIA. Sevelamer Hydrochloride Tablets are used to treat chronic kidney disease.
• Hindalco Industries: The company approved a proposal to sell its land at Kalwa in Maharashtra for Rs 595 crore and 1.5% of the sales revenue to Birla Estates, a unit of Century Textiles and Industries.
• Brigade Enterprises: The company named Pradyumna Krishna Kumar as Executive Director of the company for five years, with effect from July 12.
• Lupin: The U.S. FDA issued Form 483 with two observations after inspecting the company's Nagpur Oral Solid Dosage Facility from July 3 to July 11, 2023.
• Texmaco Rail & Engineering: The company will meet on July 17 to consider a proposal for raising funds by issuing equity shares or convertible securities either by preferential issue, rights issue, QIP, or a combination of any of these.
• Dreamfolk Services: The company and Plaza Premium Group inked a contract to expand the global lounge network and enhance the travel experience for Indian passengers.
• Subros: Company sees incremental business opportunities in vehicle AC component manufacturing with the amendment in Central Motor Vehicles Rules, 1989. Government announced that it will mandate AC in the cabins of N2 and N3 category vehicles, to be applicable from Jan. 1, 2025 onwards.
• Sealmatic India: Becomes the first to receive accreditation with the ISO 19443 for nuclear applications in India and globally. ISO 19443 is a nuclear-specific quality management company standard designed to improve safety and quality throughout the nuclear supply chain.

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