Vakrangee Ltd has appointed Dinesh Nandwana as Chairman Emeritus w.e.f. August 13, 2024.

Borosil Renewables recorded its standalone net loss for the quarter ended June 2024 at ₹3.46 crore as against the profit of ₹13.67 crore in the corresponding quarter last year.

Stock trades at ₹503.15 on the NSE, down by 2.31%.

SBC Exports Limited has received a repeat export order for supply of various Garment articles including T-Shirts, Trousers, Shorts etc. for a value of US $ 5360180.00 (₹45 Crore Approx) from GAWGEE BROTHERS WHOLESALERS CO. LLC, a Dubai based Textile Company.

SBC Exports stock surges 3.91% on the NSE, trading at ₹29.79.

Gallantt Ispat recorded its standalone net profit for the quarter ended June 2024 at ₹121.87 crore as against ₹30.70 crore in the corresponding quarter last year.

Stock surges 5% to trade at ₹343.50, also its upper circuit.

RattanIndia Enterprises recorded its consolidated net profit for the quarter ended June 2024 at ₹851.25 crore as against ₹178.13 crore in the corresponding quarter last year.

Stock is up 2.96% on the NSE, trading at ₹82.39

Man Industries (India) board has approved setting-up of a new plant at Dammam, Saudi Arabia, with an approx. project cost of ₹600 Crore.

Stock surges 5.42% on the NSE, trading at ₹452.60.

Ola Electric stock hits ₹109.41, up 20% from IPO price.

For the second day in a row it hit 20% upper circuit; stock surpasses ₹100-mark to trade at ₹109.41 on the BSE against IPO price of Rs 76.

VLS Finance Limited-Buyback

Route – Tender

Buyback Price: 380

Current Market Price: 345/-

Market Cap: Rs 1,348 Crores 

Buyback Size: Rs 125.40 Crores (Representing less than 10% of the total paid up equity share capital and free reserves) 

Buyback Size: 33,00,000 shares (Representing 9.48% of O/s. shares) 

Retail Quota: 4,95,000 Shares

Last Cum Trading Date: 23 Aug 2024

Ex-Date: 26 Aug 2024

Buyback Record Date: 26 Aug 2024

Buyback Schedule: Not Yet Announced

Type of Offer: Acquisition

Acquirer: Aquilo House Pte. Ltd, CVC Capital Partners Asia VI (A) L.P, and others

Issue of Public Announcement: 10-Aug-24

Offer price Rs: 1,766.69

CMP: Rs 1,734.00 

(%Prem.)/Disc.: 1.90%

Offer Size : Rs 3,664.06 Cr

Proposed Acq. No. of shares: 2.07 cr

Proposed Acq. : 26.00%

Indicative Schedule of Activity: Not Yet Announced

The Andhra Sugars recorded a standalone net profit for the quarter ended June 2024 at ₹8.09 crore, as against ₹19.81 crore in the corresponding quarter last year.

Stock trades at ₹111.85 on the NSE, up 1.51%.

Pilani Investment and Industries Corporation’s standalone net profit for the quarter ended June 2024 stood at ₹29.84 crore as against ₹27.19 crore in the corresponding quarter last year.

Stock trades flat at ₹4,925 on the NSE.

Hi-Tech Pipes recorded a consolidated net profit for the quarter ended June 2024 at ₹18.05 crore as against ₹8.02 crore in the corresponding quarter last year.

Stock jumps 5.38% on the NSE, trading at ₹162.50.

Navneet Education posts standalone net profit of ₹742.41 crore in quarter ended June 2024, as against ₹180.83 crore in the corresponding quarter last year. 

Stock surges 4.65% on the NSE, trading at ₹171.

Mukka Proteins has received a GST demand order from the Additional Commissioner, Mangaluru Commissionerate, Mangaluru. The company has received tax demand from the Authority for the period 2019-20 to 2022-23 as follows: - IGST Rs. 9,18,40,020/- u/s 73 - CGST Rs. 32,14,986/- u/s 73 - SGST Rs. 32,14,986/- u/s 73 

Stock declines 1.06% on the NSE, trading at ₹49.49

Cera Sanitaryware recorded a standalone net profit for the quarter ended June 2024 at ₹46.96 crore, as against ₹56.37 crore in the corresponding quarter last year.

The stock has declined 2.07% on the NSE, trading at ₹10,204.90.

Copper prices have been broadly stable after its sharp fall on Monday last week. The copper futures contract on the Multi Commodity Exchange (MCX) fell to a low of ₹765.70 per kg and then has risen back slightly from there. It is currently trading at ₹777 per kg. Read more

Sundaram Alternates, engaged in alternative investments and a subsidiary of the Sundaram Finance Group, has launched an innovative Fixed Income Debt Strategy Portfolio Management Services (PMS) named “F.I.R.S.T”.

“F.I.R.S.T” stands for Fixed Income Rated Short Term Strategy, which aims to deliver a gross yield 300-400 bps higher than traditional FD rates. The “F.I.R.S.T” PMS is positioned as an all-season product, aiming to offer superior returns relative to other debt products while effectively managing risk.

The portfolio is designed to focus exclusively on investing in RATED & LISTED debt instruments, emphasizing income generation over capital appreciation.

Vikaas M Sachdeva, Managing Director of Sundaram Alternate Assets, said, “Sundaram F.I.R.S.T combines the reliability of a Fixed Deposit Plus (FD+) product with the flexibility to customize portfolios based on the risk-return appetites of our discerning customers. It aims to deliver a diversified, rated, and listed portfolio that enhances stability and liquidity, while targeting attractive risk-adjusted returns and prioritising capital preservation. F.I.R.S.T fills a crucial gap in the asset allocation landscape by offering high-yield returns compared to conventional debt products, presenting a compelling alternative tailored to meet investor needs.”

Kinetic Green, an Indian manufacturer of Electric Vehicles (“EV”), announced that it has secured a US$25 million investment from Greater Pacific Capital (“GPC”), a global private equity firm, as part of an overall targeted Series A fundraise of up to US$40 million.

Kinetic Green entered the EV sector in 2016, as a pioneering EV OEM. The company is led by Sulajja Firodia Motwani, a third-generation member of the Firodia family, the founders of the Kinetic Group. Kinetic has been a leading manufacturer and innovator in India’s automotive sector over the past 50 years, and is well known for iconic products including the Kinetic Luna and Kinetic Honda, selling over 10 million vehicles to date. The group is highly regarded for developing and deploying advanced automotive technologies at affordable prices to drive mobility for the masses, with a focus on designing, developing and manufacturing products in India.

Kinetic Green has emerged as a leading player in India’s rapidly-growing EV market, offering a diverse range of products including electric two-wheelers, electric three-wheelers and golf carts. To date, the company has sold over 100,000 EVs, generating cumulative sales over ₹1,000 crores (₹10 billion).

The stock markets showed resilience on Monday during mid-trading, shrugging off concerns raised by the recent Hindenburg report.

Track live movement of Adani Group stocks here

Despite opening with a slight dip, both the BSE Sensex and Nifty 50 indices managed to recover during mid-day trading, moving into positive territory, indicating investor confidence and market strength, a PTI report said.

BSE Sensex had climbed to 79,909 points, gaining 207 points. Similarly, the Nifty 50 rose by 56.05 points to reach 24,416 at the time of filing this report.

“As expected, the impact of the Hindenburg report on the stock markets has been muted. Even the impact on Adani group stocks has also been muted. Most market participants are now dismissive of the Hindenburg report. Any serious analysis of the report shows the shallow nature of the Hindenburg report, that only fans political outrage,” said Shriram Subramanian, Founder and MD, InGovern Research Services.

Mazagon Dock Shipbuilders stock rises 1.37% on NSE, trading at ₹4,985.20 on receipt of order from ONGC for ₹4,676.32-crore wellhead platforms and an associated pipeline project on EPC reimbursable basis. 

ONGC shares trade at ₹300.90 on the NSE, down by 0.50%.

Top gainers: JSW Steel (2.11%), Hero Motocorp(1.76%), Axis Bank (1.46%), Infosys (1.38%), Shriram Finance (1.13%)

Top losers: NTPC (-1.67%), Apollo Hospitals (-1.60%), Adani Ports (-1.58%), Adani Enterprises (-1.43%), Dr Reddy’s Lab (-1.37%)

Of 4,043 stocks traded on the BSE at 12 noon on August 12, 2024, 1,890 advanced against 2,002 stocks that declined; 151 stocks remained unchanged. While 226 stocks recorded a 52-week high, 34 hit a 52-week low. 

In addition, 312 stocks traded in upper circuit and 257 stocks hit the lower circuit.

The 360 One WAM stock trades flat at ₹1,039 on the NSE. The company was also named by the short-seller Hindenburg. It has clarified that the IPE-Plus Fund 1 made zero investments in any shares of the Adani Group during its operating life between October 2013 - October 2019.

Shriram EPC FZE, a wholly-owned subsidiary of SEPC, has received a notice to commence work on construction of a cement project at a total project cost in excess of $325 million (equivalent to in excess of ₹2,700 crore at the current exchange rate) from JV OHONGORON SEMENT MS LLC at Tashkent in Uzbekistan.

SEPC stock rises 3.80% on the NSE, trading at ₹19.11.

Bank Nifty index is attempting to recover from its intraday low. The index opened the day on a negative note and fell to a low of 50,149. From there it has recovered most of the loss and is now trading at 50,423, down 0.12 per cent. The advances/decline ratio is at 2:10. This has to reverse in favour of the advances to take the Bank Nifty index higher. Else the current bounce may not sustain for long.

Crude oil futures traded higher on Monday morning following the escalation of tensions in West Asia. 

At 9.55 am on Monday, October Brent oil futures were at $79.80, up by 0.18 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $77.10, up by 0.34 per cent. 

August crude oil futures were trading at ₹6477 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹6444, up by 0.51 per cent, and September futures were trading at ₹6387 against the previous close of ₹6359, up by 0.44 per cent.

Equity markets and specifically Adani group stocks opened in the red following a fresh report by Hindenburg Research alleging conflict of interest on the part of SEBI chairperson Madhabi Puri Buch. At 10.20 am Sensex was down 188 points (0.24%). Adani Enterprises, Adani Ports, Adani Power, and other group shares lost as much as 5-6 per cent from the previous close in the morning session. Read more

Nifty 50 has begun the week on a weak note. The index is trading at 24,222, down 0.6 per cent. All through last week, the Nifty had struggled and failed to get a sustained break above 24,400. This indicates lack of strong buyers above 24,400. It also keeps the bias negative for a further fall in the coming days. Read more

Track the Adani Group stocks/ share Price movement here

BULLION

Gold and silver exhibited mixed performance in international markets, influenced by varied global signals, a steady dollar index, and stable U.S. bond yields. Despite a decline in U.S. jobless claims and a rebound in global equities, safe-haven demand for precious metals was bolstered by profit-taking in the Japanese Yen and rising tensions in the Middle East, particularly Iran’s threat of retaliation against Israel. Gold and silver remain underpinned by key levels amid volatile currency markets and the possibility of U.S. Fed rate cuts to mitigate recession risks. Gold finds support at $2,405-$2,388, with resistance at $2,442-$2,458. Silver is supported at $27.05-$26.85, with resistance at $27.55-$27.82. In INR terms, gold has support at ₹69,510-₹68,340, with resistance at ₹70,100-₹70,250. Silver finds support at ₹79,820-₹79,240, with resistance at ₹81,190-₹81,740.

CRUDE OIL

Crude oil experienced significant price volatility last week, recovering from a seven-month low following four consecutive weeks of decline. Prices rebounded, supported by a decrease in U.S. jobless claims and a recovery in global equity markets. U.S. crude oil inventories also fell for the sixth consecutive week, further bolstering prices. However, gains were limited by a decline in Chinese oil imports, which reached their lowest levels since September 2022 due to sluggish manufacturing and industrial activity. The dollar index and U.S. bond yields remained steady amid profit-taking in the Japanese Yen, capping crude oil gains. We expect crude oil prices to remain volatile in today’s session. Crude oil has support at $74.90–$74.20 and resistance at $76.40–$77.00. In INR, crude oil has support at ₹6,365–₹6,290, with resistance at ₹6,490–₹6,560.

The Indian Venture and Alternate Capital Association (IVCA) stands firmly behind the SEBI Chairperson, Madhabi Buch, during these challenging times. As the regulator of the capital markets in India, SEBI plays a crucial role in maintaining the integrity and stability of our financial ecosystem. Under the leadership of Ms. Buch, SEBI has consistently demonstrated an unwavering commitment to market integrity, regulatory governance, and investor protection.

We believe that the recent allegations made by Hindenburg are unwarranted and do not reflect a deep understanding of the Indian regulatory environment. Ms Buch has issued a statement to the allegations which amply explain the mismatch in timelines, adequate disclosures made and the misinterpretations on account of the research firm.

India is one of the fastest-growing markets in South Asia, and much of this success is attributed to the robust framework and oversight provided by SEBI, led by Ms. Buch. Her leadership has been instrumental in fostering a well-functioning market that continues to attract both domestic and international investments. The alternate asset industry in particular has shown a phenomenal growth in the past few years with global and domestic investors showing immense faith in India.

The IVCA expresses full confidence in Ms. Buch’s leadership and her ability to navigate these allegations with the same diligence and integrity that has defined her tenure. We remain committed to working closely with SEBI and its leadership to ensure the continued growth and success of the Indian capital markets.

The Indian Venture and Alternate Capital Association (IVCA)

The rupee witnessed range-bound trading in initial deals against the US dollar on Monday, as market participants remained on the sidelines ahead of the release of key domestic macroeconomic data.

Forex traders said the 84.00 level is acting as a psychological resistance for the USD/INR pair. Market participants are also awaiting cues from the Indian CPI inflation and IIP numbers, scheduled to be released later in the day. Read more

Dr. Reddy’s Laboratories received Establishment Inspection Report (EIR) from USFDA following the inspection at manufacturing facilities (FTO-7 & FTO-9) in Duvvada, Visakhapatnam.

Stock trades flat at ₹6,999.85 on the NSE.

Godrej Properties Ltd has acquired a ~90-acre land parcel in Khalapur - Raigad, Maharashtra. Stock slid down by 0.59% on the NSE, trading at ₹2,908.30

This monsoon season, no vegetable is available below ₹40/kg for consumers in most of the places. Even if there is a wide gap between what farmers get and what consumers pay, the horticulture growers are still happy as they think the current rates may be permanent except in some vegetables which are on higher side due to seasonal factor. Read more

Brightcom Group is embarking on expansion of operations into Europe, Middle-East and Africa (EMEA) and Asia-Pacific (APAC) markets.

Stock surges 4.96% to trade at ₹7.20 on the NSE.

Top gainers on the NSE: Grasim (0.96%), JSW Steel (0.84%), Cipla (0.73%), Asian Paints (0.62%), Tata Motors (0.47%)

Top losers: Adani Enterprises (-3.07%), Adani Ports (-2.07%), NTPC (-1.77%), Power Grid (-1.18%), Bajaj Auto (-1.03%)

The initial public offering of Saraswati Saree Depot IPO opens for public subscription today. The IPO that ends on August 14 comes out with price band of ₹152-160 and the issue size is ₹160.01 crore. Read more

Hero MotoCorp Ltd. is expected to report strong financial performance for the first quarter, driven by gains in the 125cc segment with the launch of the Xtreme 125R, an expansion of its premium motorcycle portfolio, and market gains in the electric two-wheeler (E2W) segment. The company is projected to achieve double-digit top-line growth on the back of robust volume growth and an improved portfolio mix. The EBITDA margin is anticipated to expand as the company continues to focus on premiumizing its portfolio. Additionally, double-digit growth in net profit is also expected. Building on the momentum from the first quarter, the company is expected to leverage its strategic gains in the 125cc and 400cc+ segment while making steady progress in the E2W segment with the help of new releases in the mid and mass segment this fiscal. With the upcoming festive season and improving rural economy, the company is expected to enjoy this seasonal bounce, further boosting its performance.

Nifty outlook: Momentum is missing and VIX was seen swinging making directional trades difficult. Nifty did have a triangular consolidation at the bottom, seen as early signs of reversal, but is yet to shake off the bears, as evidenced by the lack of follow through momentum on Friday despite a peek above 24400. This was surprising, but could be attributed to the near 400 point gapped up opening on Friday, leaving little fuel left to propel further upsides on the last working day of the week. It is fair to say that the trend is evenly poised. Nifty now needs a push above the 20 day SMA now at 24420, to aim for 24540 initially and embark on a 25800 trajectory, but such prospects will not be brought into consideration today if unable to float above 24360. Downside marker is now at 23975, which is where both the Bollinger band extremity and 50 day SMA has converged. An attack on this region will expose the 23670 and the low 23000s, but prospects of the same appear low, given low momentum

Crude oil futures traded higher on Monday morning following the escalation of tensions in West Asia. At 9.14 am on Monday, October Brent oil futures were at $79.72, up by 0.08 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $77.04, up by 0.26 per cent. August crude oil futures were trading at ₹6470 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹6444, up by 0.40 per cent, and September futures were trading at ₹6368 against the previous close of ₹6359, up by 0.14 per cent.

Honasa Consumer: Net profit at Rs 40.2 cr vs Rs 24.7 cr, Revenue at Rs 554 cr vs Rs 464.4 cr (YoY)

Insecticides India: Net profit at Rs 49 cr vs Rs 29 cr, Revenue at Rs 656.7 cr vs Rs 640 cr (YoY) 

Surya Roshni: Net profit at Rs 92.5 cr vs Rs 59 cr, Revenue at Rs. 1893 cr vs Rs 1875 cr (YoY) 

Apollo Micro: Net profit at Rs 8.4 cr vs Rs 1.6 cr, Revenue at Rs. 91 cr vs Rs 58 cr (YoY)

Inox Wind: Net profit at Rs 50.4 cr vs loss of Rs 64.9 cr, Revenue at Rs. 638 cr vs Rs 348 cr (YoY)

Max Estate: Net profit at Rs 1.6 cr vs loss of Rs 37.8 cr, Revenue at Rs. 40 cr vs Rs 18 cr (YoY)

Sky Gold: Net profit at Rs 21.2 cr vs Rs 10.6 cr, Revenue at Rs. 723 cr vs Rs 375 cr (YoY) 

Khazanchi Jewellers: Net profit at Rs 9.2 cr vs Rs 2.7 cr, Revenue at Rs. 381 cr vs Rs 186 cr (YoY) 

Suyog Telematics: Net profit at Rs 17 cr vs Rs 12 cr, Revenue at Rs. 46 cr vs Rs 39 cr (YoY) 

PNC Infra: Net profit at Rs 570 cr vs Rs 180 cr, Revenue at Rs. 217 cr vs Rs 209 cr (YoY) 

SMS LifeSciences: Net profit at Rs 6.4 cr vs Rs 0.70 cr, Revenue at Rs. 87 cr vs Rs 74 cr (YoY)

Supriya Life: Net profit at Rs 44.6 cr vs Rs 28.5 cr, Revenue at Rs. 160.6 cr vs Rs 132.0 cr (YoY) 

Auro Pharma: Net profit at Rs 918 cr vs Rs 569 cr, Revenue at Rs 7,567 cr vs Rs 6,850 cr (YoY) 

Aspinwall: Net profit at Rs 3.7 cr vs Rs 1.5 cr, Revenue at Rs. 83 cr vs Rs 72 cr (YonY)

Shree Pushkar Chemicals: Net profit at Rs 12.8 cr vs Rs 7.8 cr, Revenue at Rs. 194 cr vs Rs 175.5 cr (YoY) 

Frontier Springs: Net profit at Rs 7 cr vs Rs 1.8 cr, Revenue at Rs. 50 cr vs Rs 25 cr (YoY) 

Kirloskar Ferrous: Net profit at Rs 69.8 cr vs Rs 17.7 cr, Revenue at Rs. 1553 cr vs Rs 1535 cr (YoY)

Innova Captab: Net profit at Rs 29 cr vs Rs 17 cr, Revenue at Rs. 294 cr vs Rs 233 cr (YoY) 

Atul Auto: Net profit at Rs 4.5 cr vs loss Rs 8 cr, Revenue at Rs. 130 cr vs Rs 50.4 cr (YoY)

AYM Syntex: Net profit at Rs 2.3 cr vs loss Rs 11.3 cr, Revenue at Rs. 350 cr vs Rs 320 cr (YoY) 

Aarti Industries: Net profit at Rs 137 cr vs Rs 70 cr, Revenue at Rs. 1855 cr vs Rs 1414 cr (YoY) 

Nila Infra: Net profit at Rs 5.0 cr vs Rs 0.2 cr, Revenue at Rs. 41 cr vs Rs 24 cr (YoY) 

Excel Industries: Net profit at Rs 31.5 cr vs Rs 5.6 cr, Revenue at Rs. 264 cr vs Rs 214 cr (YoY) 

Balkrishna Ind: Net profit at Rs 490 cr vs Rs 332 cr, Revenue at Rs. 2714 cr vs Rs 2159 cr (YoY) 

Wockhardt: Net loss at Rs 16 cr vs loss of Rs 136 cr, Revenue at Rs. 739 cr vs Rs 644 cr (YoY) 

Indo Rama: Net loss at Rs 19 cr vs loss of Rs 55 cr, Revenue at Rs. 944 cr vs Rs 770 cr (YoY) 

GE Power: Net loss at Rs 9.5 cr vs loss of Rs 135.7 cr, Revenue at Rs. 430 cr vs Rs 424 cr (YoY) 

SCI: Net profit at Rs 291 cr vs Rs 172 cr, Revenue at Rs 1514 cr vs Rs 1200 cr (YoY) 

Liberty Shoe: Net profit at Rs 4.7 cr vs Rs 3.3 cr, Revenue at Rs 156 cr vs Rs 143 cr (YoY)

Kovai Medical: Net profit at Rs 45.8 cr vs Rs 31.0 cr, Revenue at Rs 314 cr vs Rs 274 cr (YoY)

Fineotex: Net profit at Rs 29 cr vs Rs 26 cr, Revenue at Rs 142 cr vs Rs 131 cr (YoY) 

Elpro: Net profit at Rs 47.5 cr vs Rs 19.5 cr, Revenue at Rs 140 cr vs Rs 51.5 cr (YoY) 

GIC RE: Net profit at Rs 1122 cr vs Rs 950 cr, Net Premium Income at Rs 11591 cr vs Rs 8334 cr (YoY) 

Emami Paper: Net profit at Rs 12.8 cr vs Rs 1.3 cr, Revenue at Rs 504 cr vs Rs 540 cr (YoY) 

Pix Transmissions: Net profit at Rs 27.5 cr vs Rs 15.8 cr, Revenue at Rs 129 cr vs Rs 112 cr (YoY)

EMS: Net profit at Rs 37 cr vs Rs 22.8 cr, Revenue at Rs 206 cr vs Rs 138 cr (YoY) 

Advanced Enzymes: Net profit at Rs 35.0 cr vs Rs 29.0 cr, 27 cr vs Rs 108 cr (YoY)

SP Apparels: Net profit at Rs 18 cr vs Rs 15 cr, Revenue at Rs 245 cr vs Rs 248 cr (YoY) 

Banco Products: Net profit at Rs 68.7 cr vs Rs 68.8 cr, Revenue at Rs 797 cr vs Rs 740 cr (YoY) 

Axita Cotton: Net profit at Rs 35 cr vs Rs 57 cr, Revenue at Rs 157 cr vs Rs 228 cr (YoY)

Anuh Pharma: Net profit at Rs 9.5 cr vs Rs 11.8 cr, Revenue at Rs 138 cr vs Rs 161 cr (YoY)

RSWM: Net loss at Rs 13.7 cr vs Rs 17.9 cr, Revenue at Rs 121 cr vs Rs 90.1 cr (YoY) 

Dredging Corp: Net loss at Rs 31.0 cr vs Rs 23.0 cr, Revenue at Rs 151 cr vs Rs 278 cr (YoY)

Roto Pumps: Net profit at Rs 6.2 cr vs Rs 8.9 cr, Revenue at Rs 45.4 cr vs Rs 47.2 cr (YoY)

Vraj Iron: Net profit at Rs 15.5 cr vs Rs 16.3 cr, Revenue at Rs 114 cr vs Rs 106 cr (YoY) 

Lumax Auto: Net profit at Rs 15.5 cr vs Rs 12.2 cr, Revenue at Rs 341 cr vs Rs 294 cr (YoY) 

West Coast: Net profit at Rs 110 cr vs Rs 250 cr, Revenue at Rs 175 cr vs Rs 395 cr (YoY)

CE Info: Net profit at Rs 36 cr vs Rs 38 cr, Revenue at Rs 101 cr vs Rs 107 cr (YoY). 

Albert David: Net profit at Rs 18.8 cr vs Rs 23.5 cr, Revenue at Rs 89.4 cr vs Rs 91.9 cr (YoY). 

Finolex Cables: Net profit at Rs 34.9 cr vs Rs 29.3 cr, Revenue at Rs 1230 cr vs Rs 1204 cr (YoY).

APL Apollo: Net profit at Rs 193 cr vs Rs 193 cr, Revenue at Rs 4974 cr vs Rs 4545 cr (YoY).

VLS Finance: Unable to submit quarterly earnings in stipulated time due to ransomware incident. 

Insecticides: Company to windup unit IIL overseas DMCC. 

Uco Bank: Bank to hike lending rate by 5 bps across tenures from Monday, August 12

Bank Baroda: Bank to hike lending rate by 5 bps across tenures from Monday, August 12 

Canara Bank: Bank to hike lending rate by 5 bps across tenures from Monday, August 12

Tata Motors: Company expects sluggish demand overseas in FY25, pins hopes on gradual bounce back in domestic market.

IEX: Company appoints Rohit Bajaj as joint MD.

Suven Pharmaceuticals: Net profit at Rs 60.8 cr vs Rs 120.6 cr, Revenue at Rs 230.7 cr vs Rs 347.6 cr (YoY)

Bharat Dynamics: Net profit at Rs 7.2 cr vs Rs 42 cr, Revenue at Rs. 191.2 cr vs Rs 297.7 cr (YoY) 

Divgi Torqtransfer: Net profit at Rs 6.0 cr vs Rs 10.4 cr, Revenue at Rs. 54.2 cr vs Rs 56.5 cr (YoY)

Engineers India: Net profit at Rs 91.6 cr vs Rs 138.9 cr, Revenue at Rs. 624 cr vs Rs 818 cr (YoY) 

Mishra Dhatu: Net profit at Rs 5.3 cr vs Rs 18.7 cr, Revenue at Rs. 163 cr vs Rs 188 cr (YoY) 

Hindware Home: Net loss at Rs 4.0 cr vs Rs 0.27 cr, Revenue at Rs. 599 cr vs Rs 634 cr (YoY) 

Star Cement: Net profit at Rs 31 cr vs Rs 93.3 cr, Revenue at Rs. 751 cr vs Rs 760 cr (YoY) 

Arihant Super: Net profit at Rs 0.2 cr vs Rs 17.0 cr, Revenue at Rs 84.0 cr vs Rs 121 cr (YoY) 

Dynamatics: Net profit at Rs 11 cr vs Rs 41 cr, Revenue at Rs 346.0 cr vs Rs 362 cr (YoY)

Prime Focus: Net loss at Rs 120.0 cr vs Rs 68.0 cr, Revenue at Rs. 795 cr vs Rs 1209 cr (YoY)

Waterbase: Net loss at Rs 6.3 cr vs Rs 0.9 cr, Revenue at Rs. 72 cr vs Rs 111 cr (YoY)

Sat Ind: Net profit at Rs 18.0 cr vs Rs 70.0 cr, Revenue at Rs. 120 cr vs Rs 130 cr (YoY) 

IOL CP: Net profit at Rs 30.0 cr vs Rs 46.0 cr, Revenue at Rs. 502 cr vs Rs 563 cr (YoY)

Birla Cable: Net profit at Rs 0.02 cr vs Rs 12.0 cr, Revenue at Rs. 166 cr vs Rs 174 cr (YoY)

Dredging Corp: Net loss at Rs 31.4 cr vs Rs 15.1 cr, Revenue at Rs. 150 cr vs Rs 200 cr (YoY) 

Exxaro: Net loss at Rs 4.1 cr vs Rs 0.16 cr, Revenue at Rs. 60 cr vs Rs 74 cr (YoY)

Cafe Coffee Day : NCLT admits insolvency plea against parent company of Cafe Coffee Day 

Sterlite Tech: U.S. district court jury returns verdict against company’s arm

Fed Bank Financial: Anil Kothuri tenders resignation as MD & CEO of Company on August 9 

Laxmi Organics: Income Tax department conducted survey under Income Tax Act

At the beginning of the week, global financial markets were under significant stress due to various factors. Reflecting this tension, the Nifty opened on Monday with a sharp gap down of over 400 points, followed by continued selling throughout the day, testing levels below 23900. Although prices attempted several rebounds during the rest of the week, they largely remained under pressure. However, on Friday, there was a noticeable improvement in global cues, allowing the market to close on a positive note. Despite this late recovery, the market ended the week down by 1.43%, finishing just above the 24350 level mark.

The week was largely dominated by bearish sentiment, but the bulls managed to defend key support levels with conviction. Prices have now entered a corridor of uncertainty, with the next trend not very clear. The weekly chart shows a bearish gap at higher levels, suggesting weakness, yet there is also some buying interest at lower levels. On the daily chart, after Monday’s sell-off, prices traded within a defined range of 24000 - 24400 throughout the week. The upper end of this range aligns with the 20 EMA and the bearish gap, while the lower end coincides with the 50 EMA. Looking ahead to next week, momentum could be triggered if prices break out of this range.

A breakout above 24400 - 24450 might generate optimism, potentially filling the recent gap at 24700. However, given the ongoing global uncertainty, any bounce could be an opportunity to reduce long positions. On the downside, support is seen at 24100 - 24000, and a break below this range could lead to further declines in the near term. Traders should closely monitor these levels and plan their trades accordingly. It’s also advisable to focus on stock-specific actions, adopting a selective approach. Since market movements were primarily driven by global cues, it’s essential to stay updated on those developments as well.

BSE:+819(79705)

NSE:+250(24367)

BNF:+327(50484)

MID:+566(47192)

SML:+421(53614)

FII|FPI:+406.72Cr

DII:+3979.59Cr

B.Crude: 79

Gold$:2427=INR: 69863

Silver: 80618

$/Rs: 83.96

7.10 : 2034 G-Sec: 6.88 (6.87 prv)

NSE PE: 22.67

VIX: 15.34 −1.27 (7.63%)

FIIs - FY24-25

MTD: (-20360.48Cr)

YTD: (-90821.65Cr)

DIIs - FY24-25

MTD: +23500.01Cr

MTD: +175538.50Cr

Ex-Dividend 13 Aug 2024 (Tomorrow)\u0009

Last date for Cum-Dividend Today\u0009

\u0009

Bandhan Bank Ltd\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 199.6\u0009

\u0009

Dhunseri Ventures Ltd\u0009

Dividend Per Share Rs.5\u0009

Previous day Closing Price – Rs. 444.85\u0009

\u0009

EIH Associated Hotels Ltd.\u0009

Dividend Per Share Rs.6\u0009

Previous day Closing Price – Rs. 876.45\u0009

\u0009

Fine Organic Industries Ltd\u0009

Dividend Per Share Rs.10\u0009

Previous day Closing Price – Rs. 5257.85\u0009

\u0009

Heritage Foods Limited\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 549.35\u0009

\u0009

IKIO Lighting Ltd\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 299.25\u0009

\u0009

Lloyds Metals And Energy Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 761.35\u0009

\u0009

Navneet Education Limited\u0009

Dividend Per Share Rs.2.6\u0009

Previous day Closing Price – Rs. 163.45\u0009

\u0009

Patel Integrated Logistics Ltd.\u0009

Dividend Per Share Rs.0.1\u0009

Previous day Closing Price – Rs. 24.44\u0009

\u0009

Sigma Solve Ltd\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 387.5\u0009

\u0009

S.J.S. Enterprises Ltd\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 1049.5

Ex Bonus 13 Aug 2024 (Tomorrow)\u0009

Last date Trade for Before Bonus Today\u0009

\u0009

EIH Associated Hotels Ltd.\u0009

Bonus issue 1:1\u0009

Previous day Closing Price – Rs. 876.45\u0009

\u0009

Milkfood Ltd.\u0009

Bonus issue 1:1\u0009

Previous day Closing Price – Rs. 777.65

Route – Tender\u0009\u0009

Buyback Price: 200/-\u0009\u0009

Current Market Price: 163.45/-

Market Cap: Rs 3,698 Crores\u0009\u0009\u0009

Buyback Size: Rs 100 Crores (Representing 7.82% and 7.68% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 50,00,000 shares (Representing 2.21% of O/s. shares)\u0009

Retail Quota: 7,50,000 Shares

Last Cum Trading Date: 12 Aug 2024 (Today)

Ex-Date: 13 Aug 2024

Buyback Record Date: 13 Aug 2024

Buyback Schedule: Not Yet Announced

Route – Tender\u0009\u0009

Buyback Price: 2,500/-\u0009\u0009

Current Market Price: 1657.55/-

Market Cap: Rs 11,430 Crores\u0009\u0009\u0009

Buyback Size: Rs 71.40 Crores (Representing 9.33% and 9.99% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 2,85,600 shares (Representing 0.41% of O/s. shares)\u0009

Retail Quota: 42,840 Shares

Last Cum Trading Date: 20 Aug 2024

Ex-Date: 21 Aug 2024

Buyback Record Date: 21 Aug 2024

Buyback Schedule: Not Yet Announced

Milkfood Ltd.

Stock Split From Rs.10/- to Rs.5/-

Previous day Closing Price – Rs. 777.65

Ex - Stock Split 13 Aug 2024 (Tomorrow)

Last day trade for before split Today

Kotak Inst. On Siemens

Sell Call, Target Rs 4,600

Sharp 20% Miss On Q3FY24 Results

Co Saw Belying Strength Seen In Execution Of Late & Largely Reversing Uptick In Margin

Order Inflows Were Strong, Up 18% YoY, Suggesting Prospects Of Uptick In Execution With A Lag

Results Continue To Lag ABB, Potentially Reflecting Difference In Customer Connect Built Over Time

Cut PAT Estimate By 8-10%

Citi on Jubilant Food

Buy Call, Target Rs 715

Operational Performance Continued To Improve

Overall LFL Was 3% Vs Est Of 2% With Delivery LFL Of 12.1% Led By Multiple Initiatives

Dine-in Sales Were Weak, Down 5.7% YoY & Up 4.6% QoQ

Recent Initiatives Will Likely Drive Further Improvement In Dine-in Sales

Improvement In Dine-in Sales Will Lead To Overall LFL Improvement Going Forward

Conversion Rates Were Best Ever, Leading To 16% Order Growth YoY

Nomura on Info Edge

Buy Call, Target Rs 8,280

Core Recruitment Continues To Bounce Back

Losses In Other Businesses Also Reducing

Recruitment Vertical — Consultant Segment Grows After Four Quarters Of Decline

Real Estate — Reported Moderation In Billings Growth

Revise FY25-26 EPS By 1-4%

Nomura on Balkrishna Ind.

Neutral Call, Target Rs 3,115

Q1 EBITDA Ahead Of Estimates

Weak Global Demand To Delay Expected Recovery With Current Valuations Pricing This In

Management Says Demand Outlook Remains Tepid For Rest Of Year Due To Macro Challenges

Co Expects Minor Volume Growth In FY25

Jefferies on ABB India

Buy Call, Target Raised To Rs 9,230

Q2CY24 EBITDA Was 17% Higher Than Expectations

Q2CY24 EBITDA Beat Estimates As 630 bps YoY Gross Margins Expansion Offset 11% Revenue Miss

Pricing Power And Revenue Mix Drove 360 bps Margin Expansion

Co Saw Rs200 Cr Revenue Impact From Execution Deferral To Match Customer Delivery Timelines

Co Saw Rs200 Cr Revenue Impact In An Election Quarter

Should Pick Up Revenue Ahead

Order Flows Rose 13% YoY & Outlook Remains Robust

Raise CY24-26 EPS By 4-6%

Nomura on Alkem Labs

Neutral Call, Target Rs 5,605

Q1 Sales Below; EBITDA Ahead Of Estimates

Co Retained Its EBITDA Margin Guidance Of 18% In FY25

Co Expects Higher Investments In New Initiatives, Specifically Biologics

Biologics Likely To Elevate Operating Expenses In Near Term

Stock Is Currently Trading At 31.1x/ 25.4x FY25/26 EPS Of Rs 182.6/Rs 224.2

Jefferies on Aklem Labs

Underperform Call, Target Rs 5,080

Strong Margin Expansion Of 20.1% Driven By Lower Raw Material Cost

Opex Drove A Strong Q1 Beat Despite Weak Revenue Growth

Despite A Strong Q1, Co’s Mgmt Retained Its EBITDA Margin Guidance Of 18% For FY25

Co’s Retained EBITDA Margin Guidance Of 18% For FY25 Citing Higher Opex In Coming Quarters

Co’s Growth Will Remain Below Peers And Margin Normalisation Is Some Time Away

Increase FY25-27 EPS Estimate By 1-4%

Nomura on Eureka Forbes

Buy Call, Target Rs 573/Sh

Co Is On Improving Growth Trajectory

Q1 Ahead Of Estimates; Premium Launches Picking Up Well

Margin Tailwinds In Place; Valuation Attractive At 35x FY26 P/E

Jefferies on Zydus Life

Hold Call, Target Raised To Rs 1,210

Co Delivered A Strong Q1 Led By US With EBITDA Margin At An All-time High Of 34%

US Grew 23% QoQ To $373 m Driven By gRevlimid And Gmirabegron Contribution

Co Increased Its FY25 Revenue And Margin Guidance

There Could Be A Positive Surprise If Key Products Ramp Up Further

FY25-27 EPS Increase By 2-5% On Higher Sales And Margins & Delay In Gasacol HD Competition

Await Better Entry Points

MS on Trent

Equal-Weight Call, Target Rs 4,812

Q1 Beat On The Top Line & Margins

Management Says Co Will Continue To Expand & Deepen Store Presence

Co’s Focus Is On Being Closer To And Convenient For Customers

Fashion Business Had Double-digit LFL Growth (10% In Q4, +10% In Q3)

Operating EBIT Margin For Fashion Business Improved To 10.6% YoY (7.8% In Q1FY24)

Gross Margin For Both Formats Were Consistent With Prior Trends

Grocery Format Showed Continued Improvement In Customer Traction & Sales Densities

HSBC on Alembic Pharma

Downgrade To Reduce, Target Rs 1,080

Q1 Miss; Except In-line Sales In US, Other Segments’ Sales Were Below Est

Assume Co’s US Sales Will Pick Up Gradually

Current Price Reflects Premature Hope On US Sales Growth, In Our View

Higher Sales From New Launches An Upside Risk

Jefferies on CONCOR

Buy Call, Target Rs 1,195

Q1 EBITDA Was 7% Below Estimates, With Weak Volume Growth & Lower EXIM Margins

Management Retained 18-20% YoY FY25 Volume Growth Guidance Driven By Road To Rail Shift

Market Share Rose In EXIM By 50 bps YoY

Have Lowered FYY25-27 EPS By 4% To Factor Q1

Medium-term Outlook Remains Robust As Rail Share Should Rise With Dedicated Freight Corridor

Jefferies on JB Chem

Buy Call, Target Raised To Rs 2,230

Q1 EBITDA Beat Our Estimates By 7%

Domestic Business Including Acquired Ophthal Portfolio Grew 22% YoY (13% Organic Growth)

Domestic Business Was Better Than Expected

Mgmt Expects Domestic Business To Grow High-teens In FY25

CDMO Growth To Accelerate From H2FY25

An Improved EBITDA Margin Towards The Upper End Of 26-28%

HSBC on Biocon

Downgrade To Reduce, Target Rs 300

Q1 Were Subdued After Adjusting For One-offs

Inflection Point For Biosimilars Sales Remains Distant Amid Multiple Challenges In Our View

Higher Sales From Biosimilars An Upside Risk

Nomura on Info Edge: Maintain Buy on Company, target price at Rs 8280/Sh (Positive) 

Jefferies on JB Chemicals: Maintain Buy on Company, raise target price at Rs 2230/Sh (Positive) 

Citi on Grasim: Maintain Buy on Company, raise target price at Rs 3250/Sh (Positive) 

Citi on Jubilant Food: Maintain Buy on Company, raise target price at Rs 715/Sh (Positive) 

Jefferies on ABB: Maintain Buy on Company, raise target price at Rs 9230/Sh (Positive) 

Investec on Auro Pharma: Maintain Buy on Company, target price at Rs 1400/Sh (Positive) 

Jefferies on Concor: Maintain Buy on Company, target price at Rs 1195/Sh (Positive) 

Nomura on Eureka: Maintain Buy on Company, target price at Rs 573/Sh (Positive) 

Jefferies on Hindalco: Maintain Buy on Company, target price at Rs 825/Sh (Positive) 

Nuvama on Inox Wind: Maintain Buy on Company, target price at Rs 201/Sh (Positive) 

Kotak on Siemens: Maintain Sell on Company, cut target price at Rs 4600/Sh (Neutral) 

Jefferies on Honasa: Maintain Buy on Company, cut target price at Rs 545/Sh (Neutral) 

GS on Info Edge: Maintain Sell on Company, raise target price at Rs 5700/Sh (Neutral) 

BofA on Zydus Life: Maintain Neutral on Company, raise target price at Rs 1310/Sh (Neutral) 

Jefferies on Zydus Life: Maintain Hold on Company, target price at Rs 1210/Sh (Neutral) 

MS on Trent: Maintain Equal weight on Company, target price at Rs 4812/Sh (Neutral) 

CLSA on Jubilant Food: Maintain Underperform on Company, cut target price at Rs 445/Sh (Neutral) 

Nomura on Balkrishna: Maintain Neutral on Company, target price at Rs 3115/Sh (Neutral) 

Nuvama on CESC: Maintain Reduce on Company, target price at Rs 154/Sh (Neutral) 

Nomura on Alkem Labs: Maintain Neutral on Company, target price at Rs 5605/Sh (Neutral) 

Jefferies on Alkem Labs: Maintain Underperform on Company, target price at Rs 5080/Sh (Neutral) 

Citi on Balkrishna: Maintain Sell on Company, target price at Rs 2150/Sh (Negative) 

HSBC on Alembic Pharma: Downgrade to Reduce on Company, target price at Rs 1080/Sh (Negative) 

HSBC on Biocon: Downgrade to Reduce on Company, target price at Rs 300/Sh (Negative) 

CLSA on Oil India: Downgrade to Underperform on Company, valuations are expensive (Negative) 

JPMorgan on Global Health: Downgrade to Underweight on Company, cut target price at Rs 980/Sh (Negative)

Adani Group stocks will remain in focus after the US-based short-seller Hindenburg Research last week in a sensational disclosure alleged that market regulator Securities and Exchange Board of India’s (SEBI) reluctance to act against the Adani Group might be linked to its chief Madhabi Puri Buch, having stakes in offshore funds associated with the conglomerate. Read more

Gift Nifty indicates a flat to negative start for domestic markets on Monday. Following scathing reports against Hindenburg that directly accused SEBI chief Madhabi Buch, traders are a little nervous. However, analysts do not expect the report to have a big impact on the market. Read more

https://play.google.com/store/apps/details?id=com.intelegain.rb

Conference call Replay available in Various speeds !

Researchbytes Events Update

As of 08:34 AM Saturday 10 August 2024

Can set alert for them at www.researchbytes.com 

11:00 AM Balkrishna Ind

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/2nfj9xu3

11:00 AM Kirloskar Ferro

Dial: +91 22 6280 1342 

Weblink: https://tinyurl.com/mry6esdn

11:30 AM Alicon Castallo

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/25zhu6mn

12:30 PM Rupa and Comp

Dial: +91 22 6280 1550

Weblink: https://tinyurl.com/bd6rzxjj

Kolte-Patil : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307969

Rishabh Instrum : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307968

Inox Wind : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307966

Bajaj Consumer : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307964

Insecticides : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307967

Alkem Lab : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307963

Rashi Peripherals : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307962

IRB Infra : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307957

Inox India Ltd : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307965

OM Infra Ltd : (replay)

https://www.researchbytes.com/webcast.aspx?WID=307959

Results today …

https://www.researchbytes.com/Default.aspx?cc=result

Recent interviews …

https://www.researchbytes.com/Default.aspx?cc=interview

Replays available at www.researchbytes.com

BSE:+819(79705)

NSE:+250(24367)

BNF:+327(50484)

MID:+566(47192)

SML:+421(53614)

FII|FPI:+406.72Cr

DII:+3979.59Cr

B.Crude: 79

Gold$:2427=INR: 69863

Silver: 80618

$/Rs: 83.96

7.10 : 2034 G-Sec: 6.88 (6.87 prv)

NSE PE: 22.67

VIX: 15.34 −1.27 (7.63%)

FIIs - FY24-25

MTD: (-20360.48Cr)

YTD: (-90821.65Cr)

DIIs - FY24-25

MTD: +23500.01Cr

MTD: +175538.50Cr

Q1 SL NET PROFIT 46.6M RUPEES VS 33.5M (YOY); 49.8M (QOQ)

LIBERTY SHOES: Q1 REVENUE 1.56B RUPEES VS 1.43B (YOY); 1.7B (QOQ)

LIBERTY SHOES: Q1 EBITDA 160.8M RUPEES VS 156.6M (YOY) || Q1 EBITDA MARGIN 10.31% VS 10.92% (YOY)

* ABCAPITAL

* ABFRL

* BANDHANBNK

* BIOCON

* BSOFT

* GNFC

* GRANULES

* HINDCOPPER

* INDIACEM

* INDIAMART

* LICHSGFIN

* MANAPPURAM

* PNB

* RBLBANK

* SAIL

CONS NET PROFIT DOWN 35 % AT 1.72 CR (YOY), DOWN 63% (QOQ)

REVENUE UP 17 % AT 59.09 CR (YOY) ,DOWN 1 % (QOQ)

EBITDA UP 190 % AT 4.09 CR (YOY),DOWN 23 %(QOQ) 

MARGINS AT 6.9 % V 2.8 % (YOY),8.95 % (QOQ)

NET PROFIT DOWN 20 % AT 6.7 CR (YOY),UP 15 % (QOQ)

REVENUE DOWN 17 % AT 92.6 CR (YOY) ,UP 1 % (QOQ)

EBITDA DOWN 25 % AT 10.88 CR (YOY),FLAT %(QOQ) 

MARGINS AT 11.75 % V 12.97 % (YOY), 11.85 % (QOQ)

NET PROFIT FLAT AT 2.72 CR (YOY), UP 30 % (QOQ)

REVENUE DOWN 9 % AT 15.52CR (YOY) ,UP 9 % (QOQ)

EBITDA DOWN 6 % AT 2.61 CR (YOY),UP 40 %(QOQ) 

MARGINS AT 16.8 % V 16.35 % (YOY), 13.17 % (QOQ)

NET PROFIT UP 44 % AT 18.43 CR (YOY), UP 94 % (QOQ)

REVENUE UP 38 % AT 22.75 CR (YOY) ,UP 176 % (QOQ)

EBITDA LOSS AT 0.21 CR V 1.98 CR PROFIT (YOY),0.46 CR LOSS (QOQ) 

MARGINS AT -0.92 % V 1.2 % (YOY),-5.5 % (QOQ)

CONS NET PROFIT UP 397 % AT 15.77 CR (YOY), DOWN 43% (QOQ)

REVENUE UP 81 % AT 102 CR (YOY) ,UP 10 % (QOQ)

EBITDA UP 59% AT 46.38 CR (YOY),DOWN 11%(QOQ) 

MARGINS AT 45.44 % V 51.6 % (YOY), 56.12 % (QOQ)

: NET PROFIT UP 100 % AT 7.89 CR (YOY),DOWN 51 % (QOQ)

REVENUE UP 16% AT 103.8 CR (YOY) ,DOWN 26 % (QOQ)

EBITDA UP 10 % AT 4.7 CR (YOY),DOWN 68 %(QOQ) 

MARGINS AT 4.52 % V 4.74 % (YOY), 10.6 % (QOQ)

:CONS NET PROFIT UP 21 % AT 14.51 CR (YOY), DOWN 11 % (QOQ)

REVENUE UP 16 % AT 90.33 CR (YOY) ,DOWN 8 % (QOQ)

EBITDA UP 10 % AT 16.59 CR (YOY),DOWN 6 %(QOQ) 

MARGINS AT 18.35 % V 19.4 % (YOY), 18 % (QOQ)

– big miss compared to est. & peer ABB

EBITDA sharp 20% below est.

Margin expansion seen in the last 3 quarters was short lived; 200 bps decline QoQ

Results continue to lag peer ABB

Siemens/ABB revenue growth 7%/13%, EBITDA growth 22%/56% and margins 13%/19%

: Q1 Sl Net Profit 148m Rupees Vs 154m (yoy) || Q1 Revenue 1.14b Rupees Vs 1.05b (yoy)

Vraj Iron And Steel: Q1 Ebitda 211m Rupees Vs 219m (yoy) || Q1 Ebitda Margin 18.41% Vs 20.72% (yoy)

: Q1 Sl Net Profit 222m Rupees Vs 165m (yoy) || Q1 Revenue 9.5b Rupees Vs 7.98b (yoy)

Precision Wires: Q1 Ebitda 422m Rupees Vs 324m (yoy) || Q1 Ebitda Margin 4.43% Vs 4.05% (yoy)

Q1 Cons Net Profit 181m Rupees Vs 150m (yoy); 285m (qoq) || Q1 Revenue 2.45b Rupees Vs 2.48b (yoy)

S.P. Apparels: Q1 Ebitda 330m Rupees Vs 360m (yoy) || Q1 Ebitda Margin 13.45% Vs 14.54% (yoy)

Q1 Cons Net Profit 371m Rupees Vs 227m (yoy); 472m (qoq) || Q1 Revenue 2.1b Rupees Vs 1.4b (yoy)

Q1 Ebitda 503m Rupees Vs 323m (yoy) || Q1 Ebitda Margin 24.37% Vs 23.44% (yoy)

Q1 Sl Net Profit 1.1b Rupees Vs 392m (yoy); 1.1b (qoq) || Q1 Revenue 10.6b Rupees Vs 9.3b (yoy)

Electrotherm: Q1 Ebitda 1.3b Rupees Vs 725m (yoy) || Q1 Ebitda Margin 12.56% Vs 7.79% (yoy)

Q1 Sl Net Profit 1.1b Rupees Vs 392m (yoy); 1.1b (qoq) || Q1 Revenue 10.6b Rupees Vs 9.3b (yoy)

Electrotherm: Q1 Ebitda 1.3b Rupees Vs 725m (yoy) || Q1 Ebitda Margin 12.56% Vs 7.79% (yoy)

Q1 Cons Net Profit 1.9b Rupees Vs 1.9b (yoy); 1.7b (qoq) || Q1 Revenue 49b Rupees Vs 45b (yoy)

APL Apollo Tubes: Q1 Ebitda 3.02b Rupees Vs 3.1b (yoy) || Q1 Ebitda Margin 6.07% Vs 6.76% (yoy)

Q1 Cons Net Profit 53m Rupees Vs 13m (yoy); 71m (qoq) || Q1 Revenue 1.5b Rupees Vs 1.5b (yoy)

Autoline Industries: Q1 Ebitda 159m Rupees Vs 101m (yoy) || Q1 Ebitda Margin 10.51% Vs 6.74% (yoy)

Q1 Cons Net Profit 7.6m Rupees Vs 12m (yoy); 16m (qoq) || Q1 Revenue 234m Rupees Vs 120m (yoy)

Praveg: Q1 Ebitda 63m Rupees Vs 45m (yoy) || Q1 Ebitda Margin 27.05% Vs 37.26% (yoy)

UPL Hong Kong, a step-down subsidiary of UPL, is proposing to invest up to 49% of the capital of UICL, which will result in UICL becoming an associate entity. 

Thus, it will become a related party upon completion of the investment and the entity getting classified as an associate entity.

49% shares will be held by UPL Hong Kong which is a step-down subsidiary of the Company. Jiangsu Jingfu International Trading Company Limited will hold 20% and Stallions Investment Management will hold 31% in the China entity.is proposing to invest up to 49% of the capital of UICL which will result in UICL becoming an associate entity. 

Thus, it will become a related party upon completion of the investment and the entity getting classified as an associate entity.

49% shares will be held by UPL Hong Kong which is a step-down subsidiary of the Company. Jiangsu Jingfu International Trading Company Limited will hold 20% and Stallions Investment Management will hold 31% in the China entity.

Q1 V ESTIMATES 

Net profit at Rs 37.9 cr vs CNBC-TV18 poll of Rs 36.2 cr

Revenue at Rs 313 cr vs CNBC-TV18 poll of Rs 311.6 cr

EBITDA at Rs 78 cr vs CNBC-TV18 poll of Rs 75.5 cr

Margin at 25% vs CNBC-TV18 poll 24.2%

Q1 : NET PROFIT UP 818 % AT 1.01 CR (YOY),UP 66 % (QOQ)

REVENUE UP 54 % AT 12.26 CR (YOY) ,DOWN 35 % (QOQ)

EBITDA UP 259 % AT 1.58 CR (YOY),UP 40 %(QOQ) 

MARGINS AT 12.88 % V 5.54 % (YOY), 6 % (QOQ)

Q1 :CONS NET PROFIT UP 55 % AT 11.11 CR (YOY),DOWN 15 % (QOQ)

REVENUE UP 19 % AT 80.07 CR (YOY) ,DOWN 13 % (QOQ)

EBITDA UP 26 % AT 17.33 CR (YOY),DOWN 16 %(QOQ) 

MARGINS AT 21.65 % V 20.38 % (YOY), 22.4 % (QOQ)

Q1 :CONS NET PROFIT DOWN 18 % AT 26.4 CR (YOY), DOWN 23% (QOQ)

REVENUE FLAT % AT 247 CR (YOY) ,DOWN 1 % (QOQ)

EBITDA DOWN 20 % AT 42 CR (YOY),DOWN 17 %(QOQ) 

MARGINS AT 17 % V 21.2 % (YOY),20.2 % (QOQ)

Q1 : NET LOSS AT 1.26 CR V 0.32 CR PROFIT (YOY), 0.57 CR PROFIT (QOQ)

REVENUE UP 24 % AT 111.3 CR (YOY) ,UP 15 % (QOQ)

EBITDA UP 23 % AT 3.16 CR (YOY),UP 22 %(QOQ) 

MARGINS AT 2.83 % V 2.85 % (YOY),2.67 % (QOQ)

Q1 CONS NET PROFIT 342M RUPEES VS 288M (YOY) Q1 REVENUE 1.5B RUPEES VS 1.47B (YOY)

Q1 EBITDA 512M RUPEES VS 439M (YOY) Q1 EBITDA MARGIN 33.14% VS 29.80% (YOY)

Tata Tech has received a letter from the Chhattisgarh Government informing it about closure of the project and termination of the MoA as they are exploring alternate options to meet the project objectives. The agreement was executed on July 22, 2023. According to the terms of the MoA, the Company was the lead industry partner for executing the project under the MoA, which primarily entailed upgrading 36 ITIs as Center of Excellence (CoE), in Chhattisgarh

Co. has entered into an agreement with National Small Industries Corporation Ltd. for supply of Toolkit worth Rs. 298.0 Crores to enhance capability and productivity of artisans and crafts people registered under PM Vishwakarma Scheme.

Time Period; 2 years from the date of agreement

PI Industries - Downgrade the stock to REDUCE Rating

Downgrade the stock to REDUCE, after the recent run-up; we see optimism around pyroxasulfone as misplaced. 

DEEPAK NITRITE

Cut estimates , downgrade the stock to SELL after the sharp run-up, which, in our view, is unjustified 

slippage in the commissioning timeline of nitric acid and MIBK/C 

Cut EPS 1-8%

-> Risk stabilized during a quiet Friday in NY

-> SPX +0.47%, Nasdaq +0.51%

-> UST 10y yield lost 5 bps to 3.94%

-> Dovish Fedspeak catalyzed the move in treasuries

-> Fed’s Collins: “appropriate to begin easing soon if data comes in as expected”

-> JPY appreciated on lower US yields

-> Oil up 0.7% to $79.68/bbl

-> Next week will feature US consumer data (consumer earnings, retail sales) & core CPI

Barrick Gold Corporation(Pre market) (Sector- Metals)

KE Holdings Inc(Pre market) (Sector- Realty)

Monday. com Ltd. (Pre market) (Sector- Technology)

Sun Life Financial Inc. (Post market) (Sector- Financial)

Shinhan Financial Group Co Ltd (TENT) (Sector- Financial)

Japan Market Holiday

17.30 INDIA CPI y/y (Expected: 3.65% versus Previous: 5.08%) 

17.30 INDIA Index of Industrial Production y/y (Expected: 5.5% versus Previous: 5.9%) 

23:30 U.S. Federal Budget Balance (Expected: -254.3B versus Previous: -66.0B)

Oil India share price has risen very well over the last couple of weeks. On Friday, the stock surged 5 per cent and has closed the week on a strong note. Read more

The decision of RBI’s Monetary Policy Committee (MPC) to maintain status quo on the repo rate, while retaining its policy stance of “withdrawal of accommodation”, was in line with expectations. Read more

A number of industry veterans rubbished the allegations made by Hindenburg Research and came out in support of SEBI chair Madhabi Puri Buch on social media, even as a section of political parties called for a Joint Parliamentary Committee (JPC) probe. Read more

SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch refuted the allegations made against them by American short-seller Hindenburg Research terming them as baseless and insinuations aimed at character assassination. Read more