Share Market Highlights 18 July 2024: Sensex soars to 81,343, Nifty sets new high at 24,800; IT stocks lead rally

Polycab India is a market leader in India’s ₹80,000 crore cables & wires (C&W) industry in FY24 with a share of 25-26 per cent (Source: FY24 Annual Report). The top five firms have announced a cumulative capex of ₹5,800 crore in C&W during the next three years, driven by infrastructure capex, a rise in domestic manufacturing and exports. Management earmarked ₹3,000 crore capex plan, including FMEG, the highest among peers.

Rupee depreciated 6 paise and settled at its all-time low of 83.64 (provisional) against the US dollar on Thursday, as the strength of the American currency in the overseas market and overnight surge in crude oil prices weighed on investor sentiments.

Forex traders expect the rupee to trade with a slight negative bias on strong US dollar and weak Asian as well as European currencies. The US dollar strengthened, while the pound weakened amid disappointing labour market data from the UK.

Vinod Nair, Head of Research, Geojit Financial Services.

“The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks. Investor optimism for the sector grew after strong performance reports from the country’s leading IT firms in the June quarter, coupled with a weakening rupee. However, the broader market lagged the major indices due to high valuations and sectoral rotation, which is influenced by anticipated improvements in private consumption, particularly in rural areas.”

Zydus Lifesciences has received USFDA report for the inspection conducted at its injectables manufacturing facility located at Jarod, near Vadodara, Gujarat. The USFDA has determined that the inspection classification of this facility is “Official Action Indicated” (OAI).

Infosys recorded its consolidated net profit for the quarter ended June 2024 at ₹6,374 crore as against ₹5,945 crore in the corresponding quarter last year. 

Stock closed 2.20% higher on the NSE at ₹1,764.05.

Top gainers on the NSE: 

LTIMindtree (3.48%), ONGC (2.99%), TCS (2.84%), Wipro (2.41%), Bajaj Finserv (2.39%) 

Top losers: 

Hero Motocorp (-1.49%), Coal India (-1.48%), Asian Paints (-1.40%), Grasim (-1.25%), Bajaj Auto (-0.86%)

The merger of GAPbuster Limited, UK, and GAPbuster Europe Limited, UK, with Sonata Europe Limited, UK, the wholly-owned subsidiary of Sonata Software Limited has been completed.

Power Mech Projects has received an order worth ₹209.50 Crore for operation and maintenance of 3X91.5 MW CPP at Hindustan Zinc Limited, Chanderiya, Chittorgarh, for a period of 4 years.

Pritika Auto Industries Limited has announced the appointment of Harpreet Singh Nibber as Chairman & Managing Director of the company w.e.f. April 01, 2025 for a period of three years.

LTIMindtree has announced a multi-million dollar contract extension with Absa Bank, a leading African financial services group.

LTIMindtree stock surges 3.37% on the NSE, trading at ₹5,750.

Top gainers on the NSE at 3 pm:

LTIMindtree (3.26%), TCS (3.25%), Bajaj Finserv (2.52%), ONGC (2.45%), SBI Life (2.33%)

Top losers:

Asian Paints (-1.48%), Hero Motocorp (-1.41%), Coal India (-1.35%), Grasim (-1.24%), Bajaj Auto (-1.23%)

Stocks advanced on BSE at 3 pm on July 18, 2024, were 1,379 against 2,508 stocks that declined; 96 stocks remain unchanged. Total stocks traded were 3,983. The number of stocks that recorded a 52-week high was 231, and those that hit a 52-week low was 24. 

In addition, 279 stocks traded in upper circuit, while 288 hit the lower circuit.

VL E-Governance & IT Solutions Limited has entered into a binding term sheet with Edgewood Ventures LLC, USA, for acquisition of 26% equity stake in HAL-Edgewood Technologies Private Limited (HETL).

VL E-Governance & IT Solutions stock surges 5% on the NSE, trading at ₹86.55

Tata AIG, a leading provider of general insurance in India, has announced a strategic partnership with Mahindra Finance one of India’s leading Non-Banking Finance Companies. This collaboration aims to enhance the distribution of TATA AIG’s non-life insurance products to Mahindra Finance’s extensive customer network.

Under this partnership, TATA AIG will offer a comprehensive range of general insurance products, including motor, health, personal accident, and other non-life insurance solutions to over 10 million customers of Mahindra Finance.

Neelesh Garg, Managing Director & CEO at TATA AIG General Insurance Co. Ltd, stated, “This collaboration with Mahindra Finance is an important move towards making our insurance products more accessible. Based on a common foundation of strong corporate governance and a robust value system, we are committed to offering customised solutions that cater to the diverse needs of our partners, ensuring comprehensive protection and financial security.”

Raul Rebello, Managing Director & CEO, Mahindra Finance, said, “We are delighted to enter into a strategic alliance with TATA AIG to offer insurance solutions to our customers. It is a significant step in our commitment to facilitate agile and efficient products powered with personalised customer experience towards being a responsible financial solution partner to Emerging India”. The collaboration focuses on delivering customer-centric insurance solutions aimed at addressing the diverse needs of individuals and families across various regions. Mahindra Finance’s robust distribution network will help in facilitating seamless delivery of TATA AIG’s insurance products, ensuring a hassle-free experience for the customers.

Prabhudas Lilladher (PL), one of the most trusted financial services organisations in India, in its latest India Strategy Report – The Champion’s Rally Continues, stated that NIFTY is currently trading at 18.5x 1-year forward EPS, which is at 3.6% discount to 15-year average of 19.2x. In the Base Case, PL values NIFTY at 3% discount to 15-year average PE (18.6x) with March 26 EPS of 1,417 and arrives at a 12-month target of 26,398 (previously 25,816). In the Bull Case, PL values NIFTY at 5% premium to 15-year average PE 20x and arrives at a bull case target of 28,575 (previously 27,102). In Bear case, Nifty can trade at 10% discount to LPA with a target of 24,493 (previously 23,235).

NIFTY has given a return of 4.3% in June 2024 as markets celebrated the installation of the new NDA government and India’s win in the T20 World Cup. Currently, the markets are consolidating and are in a favourable position due to several factors:

1) Monsoons have normalized, which is likely to tame inflation and boost rural demand

2) Commodity prices are range-bound with limited potential for upward movement in the near term

3) Rising hopes of interest rate cuts later in the year

LIC stock declines 1.45% on the NSE, trading at ₹1,092.35. The corporation has entered into a tie-up with IDFC First Bank Ltd under corporate agency arrangement.

IDFC First Bank stock trades at ₹77.85 on the NSE, down by 0.13%.

Major stocks that hit a 52-week high on the NSE include:

MTNL (20%), Just Dial(18.57%), TCS (2.84%), Wipro (2.0%), ONGC (2.40%), Infosys (2.18%)

BSE Sensex increased by 639.23 pts or 0.79% to trade at 81,355.78 as at 2.10 pm, and Nifty 50 was up by 181.70 pts or 0.74% to trade at 24,794.70.

Havells India recorded its standalone net profit for the quarter ended June 2024 at ₹411.18 crore as against ₹287.38 crore in the corresponding quarter last year.

Navi Mutual Fund (Navi MF) has announced the launch of the Navi Nifty 500 Multicap 50:25:25 Index Fund, index fund to track the Nifty 500 Multicap 50:25:25 index. This fund continuously offers units at applicable NAV (Face Value: ₹10/-). The New Fund Offer (NFO) opens on July 18, 2024, and closes on July 30, 2024.

TATA AIG has announced partnership with Mahindra Finance. 

Mahindra & Mahindra Financial stock trades at ₹295.25 on the NSE, down by 0.69%.

Motilal Oswal Asset Management Company (MOAMC) today announced the launch of its latest new fund offer “Motilal Oswal Manufacturing Fund”. The new thematic fund by MOAMC is an open-ended equity scheme following manufacturing theme.

Key Fund Details:

NFO Period: 19th July 2024 to 2nd August 2024

Investment Objective: To achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in the manufacturing activity.

Benchmark: Nifty India Manufacturing Total Return Index

Capitalmind Financial Services has announced the launch of “Capitalmind Select India One,” its first Alternative Investment Fund (AIF). This Category 3 AIF, designed as a long-bias multi-factor fund, aims to raise ₹500 crore over the next 12 months. The fund is open to investors with a minimum investment of ₹1 Crore.

The Power Ministry has approved extension of the additional charge of the post of Chairman and Managing Director, NHPC Ltd, given to Rajendra Prasad Goyal, Director (Finance), for three months effective June 1, 2024, till a full-time incumbent is appointed, or until further orders, whichever is the earliest.

Capitalmind Financial Services, an investment management player, has launched “Capitalmind Select India One,” its first Alternative Investment Fund (AIF). This Category 3 AIF, designed as a long-bias multi-factor fund, aims to raise ₹500 crores over the next 12 months. The fund is open to investors with a minimum investment of ₹1 Crore.

Zensar Technologies stock trades flat at ₹780.60 on the NSE. Zensar Technologies Inc, USA, wholly-owned subsidiary, has entered into a definitive agreement for acquisition of 100% membership interest in BridgeView Life Sciences, LLC

TIFIN, a leading AI and innovation platform for wealth, makes its international debut with the launch of TIFIN India. The launch represents a milestone in TIFIN’s vision to take its expertise in both direct-to-consumer (DTC) and business-to-business (B2B) AI for wealth applications to the global market. 

The Indian market is unique in its potential for impact. As it stands today, the penetration of wealth management in India is only 8% (compared to 72% in the US and 44% in China). With a population of more than 1.4 billion individuals, TIFIN expects over 500 million individuals to access wealth and asset management services in the next 7 years. TIFIN India will be organised into two main verticals, MyFi, an AI assistant to help individuals towards better wealth outcomes, and TIFIN India Enterprise, which will build AI native products for financial services firms

Top gainers: TCS (2.13%), LTIMindtree (1.62%), ONGC (1.27%), Bajaj Finserv (1.23%), Hindustan Unilever (0.81%)

Top losers: Bajaj Auto (-3.46%), Hero Motocorp (-2.66%), Asian Paints (-2.03%), Coal India (-1.97%), Adani Enterprises (-1.42%)

Of a total of 3,892 stocks traded on the BSE at 12.04 pm on July 18, 2024, 1,152 advanced against 2,595 that declined; 145 stocks remained unchanged. While 204 stocks recorded a 52-week high, 23 hit a 52-week low. In addition, 205 stocks traded in the upper circuit, while 258 hit the lower circuit.

IndusInd Bank launches ‘Wrestle for Glory’ program, a CSR initiative, a collaboration with the Inspire Institute of Sport (IIS), Olympic training facility headquartered in Vijayanagar, Bellary.

IndusInd Bank stock inches up 0.51% on the NSE, trading at ₹1,453.30

Zee Enterprises stock plunges 8.28% on NSE, trading at ₹142.65. The company’s board had approved raising funds by issuing 5% foreign currency convertible bonds (FCCBs) up to $239 million (₹1,997.22 crore) maturing in 10 years on a private placement basis to proposed investors - Resonance Opportunities Fund, St. John’s Wood Fund, and Ebisu Global Opportunities Fund. The FCCB issue opened on July 16

Nazara Technologies stock declined 1.91% on the NSE, trading at ₹904.90. Two of its subsidiaries had received show cause notices from the Director General of GST Intelligence, Kolkata, for a proposed liability of ₹845.72 crore and ₹274.21 crore, respectively.

Zydus Lifesciences stock declined 1.52% on the NSE, trading at ₹1,166.85. Company had announced a non-exclusive patent licensing agreement with Takeda for ‘Vault®’ (Vonoprazan) in India”.

Bondada Engineering has received an authorisation for placement of work order from KPI Green Energy Limited. Contract worth ₹59 crore.

Bondada Engineering stock trades at ₹2,771 on the BSE, up 0.05%

Lloyds Metals and Energy has reported its highest-quarterly iron ore production, achieving 4 million tonnes, marking a 6% year-on-year (YoY) increase and a 162% quarter-on-quarter (QoQ) rise. 

Lloyds Metals And Energy stock rose 1.09% on the NSE, trading at ₹741.80.

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has signed a Memorandum of Understanding (MoU) with NHPC Renewable Energy Limited (NHPC-REL) to spearhead the installation of Rooftop Solar Projects (RTS Projects) across government buildings of Central Ministries, States, and Union Territories.

Tata Power Company stock declines 1.20% on the NSE, trading at ₹431.65.

Top gainers on the BSE at 10.45 am:

Just Dial (16.88%), ESAB India (7.26%), Kirloskar Brothers (6.74%), TCI (6.72%), TTML (6.36%)

Top losers:

ZEEL (-7.69%), CE Info Systems (-6.82%), Elecon (-6.79%), Jubilant Ingrevia (-5.56%), CG Power (-5.45%)

Data Patterns (India) Limited has clarified that it has signed the contract with Defence Research and Development Organisation (“DRDO”), with a contract value of ₹10 Crore, and is yet to receive the counter-signed contract from DRDO.

Data Patterns stock declines 2.89% on the NSE, trading at ₹3,208.95.

BASF SE, Germany (Ultimate Holding Company of BASF India Ltd) that globally BASF has signed an agreement with Solenis, a global producer of specialty chemicals headquartered in Wilmington, Delaware, to sell BASF’s flocculants business for mining applications.

BASF India stock trades at ₹5,602.05 on the NSE, down by 0.53%.

Bartronics India Limited has announced its latest expansion drive with one of the largest public sector banks – Bank of India.

Bartronics India stock rises 1.96% on the NSE, trading at ₹20.79

Greaves Electric Mobility, through its 3W subsidiary, has announced that its electric 3-wheeler passenger vehicle, Greaves Eltra City, is now available at ₹3,66,999.

Greaves Cotton stock declines 1% on the NSE, trading at ₹162.79.

Nifty 50 has recovered very well after opening with a wide gap-down. The index opened at 24543.80 and touched an intraday low of 24,515.10. From there it has risen back very well recovering all the loss. Nifty is currently trading at 23,652, up 0.15 per cent. The advances/declines ratio is at 31:19. This is positive.

Bank Nifty opened today’s session lower at 52,215 versus yesterday’s close of 52,397. But the index recovered and is now hovering around 52,625, up 0.4 per cent. Read more

Revenue grew by ~16% Y-o-Y supported by volume growth, higher average selling price (ASP) and sharp increase in other operating income. ASP improved Y-o-Y, both in domestic and export market. Other operating income growth was on account of accrual of PLI. Gross profit and EBITDA per vehicle improved yoy and qoq in Q1FY25. Domestic two-wheeler industry volumes is expected to witness 7-8% CAGR over FY24-27E. Overall, the company reported healthy yoy growth in revenue and operating profit during the quarter.

Reliance Industries is expected to report a 3.3 per cent annual rise in net profit in the June quarter and 11.4 per cent rise in revenue driven by its consumer facing businesses, while its dominant oil and refining business will be exerting a downward pressure on its performance. Read more

The board of Aurobindo Pharma on Thursday approved the buyback of 51.37 lakh shares at a price of ₹1,460 per share, representing a premium of 6.4% over Tuesday’s closing price. It has as fixed July 30 as the record date for the ₹750-crore share buyback scheme through the tender offer route

ITI Ltd to participate in 13th edition of Strategic Electronics Summit 2024 (SES 2024), organised by Electronic Industries Association of India (ELCINA), scheduled to be held from 17-18 July 2024 at The Lalit Ashok Hotel, Bengaluru.

Top gainers: LTIMindtree (3.03%), ONGC (2.01%), Grasim (0.42%), Apollo Hospitals (0.34%), Infosys (0.33%)

Top losers: Bajaj Auto (-3.14%), Asian Paints (-1.93%), Eicher Motors (-1.68%), Hero Motocorp (-1.53%), Ultratech Cement (-1.17%)

Crude oil futures traded higher on Thursday morning as there was a decline in the inventory level in the US for the week ending June 12. At 9.15 am on Thursday, September Brent oil futures were at $85.42, up by 0.40 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $81.87, up by 0.53 per cent. July crude oil futures were trading at ₹6956 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹6911, up by 0.65 per cent, and August futures were trading at ₹6843 against the previous close of ₹6809, up by 0.50 per cent. Read more

FlixBus, a global leader in affordable and sustainable travel, which entered India earlier this year, has announced a strategic partnership with Paytm, the country’s leading payments and financial services distribution company. This collaboration aims to revolutionise intercity bus travel in India, making FlixBus tickets available directly through the Paytm app. The partnership simplifies access to intercity travel, enhancing convenience for Indian travellers and making road travel more accessible. Read more

Jefferies on Asian Paints

Underperform Call, Target Cut To Rs 2,100

Co Started FY25 On Weak Footing With Q1 Sharply Below Est On Revenue & Margins

Mgmt Clarified That This Performance Has Nothing To Do With Rise In Competition

Mgmt Clarified Higher Cost Was Due To A Mix Of Higher Raw Material Prices

Higher Cost Was Due To Increase In Staff/Opex To Improve Service Levels

Multi-Quarter Low EBITDA Margin Translated Into A 20% YoY Decline In EBITDA

JPMorgan on Asian Paints

Neutral Call, Target Rs 2,800

Q1 Earnings Miss On Weak Margin Print & Tepid Revenue Growth

Poor Mix And Subdued Demand Weigh On Revenue

Price Hikes, Rural To Aid Better Growth Q2 Onwards

Lower FY25-27 EPS By 3-5% By Further Lowering Margin Assumptions

Marginal Tweak Down In Revenue Growth

GS on Asian Paints

Neutral Call, Target Rs 2,750

EBITDA Decline Of 20% YoY In Q1, Demonstrates Increasing Headwinds

Sharp Growth Slowdown, Management Expects A Modest Recovery Ahead

EBITDA Margin Impacted By Increase In Staff Costs And Advertising

Impact Of Increased Competitive Intensity Likely To Create Further Pressure Going Forward

CITI on Asian Paints

Sell, TP cut to Rs 2400 from Rs 2600

Rev/EBITDA/PAT declined 2%/20%/25% (missed Citi estimates by 5%/18%/22%)

Product/pricing mix was -10% 

Management reiterated guidance of 5-6% gap

Cut FY25- 27E EPS est by 8-12%

Nomura on Asian Paints

Neutral, TP Rs 2850

1Q25: Below estimates; volumes grew 7% y-y; sales / EBITDA declined 2% / 19% y-y due to lower mix & higher costs

Nomura on LTIMindtree

Reduce Call, Target Rs 4,670

Q1FY25 Saw Modest Beat At Topline, Miss At Margin

Margin Improvement In FY25 Unlikely

Near-term Growth Visibility Driven By Short-cycle Projects From Clients

Margin Recovery To Be Slow, Significant Improvement Needs Sharp Growth Revival

Jefferies on Gold Financiers

Initiate Buy Call On Muthoot Fin, Target Rs 2,200

Initiate Buy Call On Manappuram Fin, Target Rs 270

Gold NBFCs Offer Leverage To Higher Gold Prices

Gold NBFCs Should Gain From Stabilising Competition & Diversification

Stabilising Competition & Diversification Should Support Stronger Loan Growth Vs Past 3 Yrs

Loan Growth Of 17-19% EPS CAGR (3-8% FY21-24) & 18%+ RoE Over FY24-27 For Muthoot & Manappuram

Asset Quality Risk In Gold Is Low

RoEs Are Superior Vs Most NBFCs & Valuations Seem Reasonable In This Context

Prefer Muthoot Fin (Gold 82% Of AUM) On Better Gold Price Leverage

Nomura on Eicher Motors

Reduce Call, Target Rs 4,119

Royal Enfield Guerrilla 450 Launched At A Starting Price Of `2.39 Lk

Segment Above 400cc Has Not Seen Much Increase In Its Share Despite Interesting Products

Believe Reason For No Rise Could Be That Large Section Of Customers Use Bikes For Commuting

These Bikes Are Not Only Expensive, But More Difficult To Ride In Traffic As They Tend To Heat Up

Despite The Launch, Do Not Expect Much Improvement In Overall Growth For Royal Enfield

CLSA on Eicher Motors

Underperform Call, Target Rs 4157

Launched Guerrilla 450, Priced Between `2.39 Lk-2.54 Lk In India

Bookings Have Commenced In India, With Test Rides & Retail Sales Scheduled To Begin On Aug 1

Royal Enfield Holds Mkt-leading Position In Premium Motorcycle Segment With 29.5% Market Share

Royal Enfield Dominates >250cc Motorcycle Segment With 88.3% Market Share In FY24

Royal Enfield Is Losing Market Share In The Segment As Competitors Continue To Scale Up

Maintain Underperform Call On Expensive Valuations

Macquarie on Bajaj Auto

Neutral call, Target Rs 9,655

Q1 PLI Accrual Drives Headline Gross Margin Beat

Multiple Growth Drivers Including CNG Motorcycle

Growth Drivers Include Expansion Of E2W Portfolio With Launch Of Less Than `1 Lk Model

Growth Drivers Include Manufacturing Footprint In LATAM

Ramp Of E3W Volumes & Distribution For EVs & Prem Motorcycle Should Lend Growth Support

UBS on Bajaj Auto

Sell Call, Target Rs 6,250

PLI Incentives & Spares Aid 20% Margin In Q1

Mix Moderation Ahead, Margin Tailwinds Behind

Believe Market Is Assigning 25x P/E To 3W Business

Market Also Seems To Be Ignoring Muted Response To Triumph Moderating 3W Volumes

Market Also Seems To Be Ignoring Slippage In 2W Mkt Sh Despite Launch Of Multiple Models

JPM on L&T Fin (1st cut)

OW, TP Rs 185

1Q PAT 4% ahead of JPMe driven by lower than expected opex & provisions

AUM growth at 13% y/y has now reached an inflection (vs decline to single digit growth over last 5 yrs)

with retail segment forming predominant part

UBS on L&T Fin

Buy, TP Rs 230

Stable asset quality with strong retail growth

Growth driven by MFI, 2W & home loans

Credit quality stable

Believe continued robust growth in retail assets & improving RoA will drive re-rating

Price Band change from 20% to 10%: Mukka Proteins.

Ex/record Dividend: Amara Raja Energy & Mobility, Can Fin Homes, Arvind Smart Spaces, Bliss GVS Pharma, Nelcast, Praj Industries, GPT Healthcare, Tanla Platforms, UTI Asset Management, Thangamayil Jewellery, Newgen Software Technologies.

Ex/record AGM: Tara Chand Infra Logistic Solutions, Amara Raja Energy & Mobility, Arvind SmartSpaces, Bliss GVS Pharma, Nelcast, Oracle Financial Services Software, Praj Industries, GPT Healthcare, Thangamayil Jewellery, Newgen Software Technologies.

Ex/record stock split: KPI Green Energy. 

Moved out short-term Framework: AGI Greenpac, Cosmo First, Dredging Corporation of India.

Moved in short-term Framework: Artemis Medicare Services, Mukka Proteins.

CMP Rs. 2974 | M Cap Rs. 285304 Cr | 52 W H/L 3568/2670

(Nirmal Bang Retail Research)

Volumes came at 7% vs expectation of 8.2%, QoQ 9.3%, YoY 10%

Result is below expectations

Revenue from Operations came at Rs. 8969.7 Cr (2.7% QoQ, -2.3% YoY) vs expectation of Rs. 9312.2 Cr, QoQ Rs. 8730.8 Cr, YoY Rs. 9182.3 Cr

EBIDTA came at Rs. 1693.8 Cr (0.1% QoQ, -20.2% YoY) vs expectation of Rs. 1969.5 Cr, QoQ Rs. 1691.4 Cr, YoY Rs. 2121.3 Cr

EBITDA Margin came at 18.9% vs expectation of 21.1%, QoQ 19.4%, YoY 23.1%

Adj. PAT came at Rs. 1170 Cr vs expectation of Rs. 1411.6 Cr, QoQ Rs. 1256.7 Cr, YoY Rs. 1550.4 Cr

Quarter EPS is Rs. 12.2

Stock is trading at P/E of 53.4x FY25E EPS

CMP Rs. 5534 | M Cap Rs. 163792 Cr | 52 W H/L 6442/4130

(Nirmal Bang Retail Research)

Revenues in CC QoQ came at 2.6% vs expectation of 1.6%, QoQ 0.7%, YoY 0.1%

Result is ahead of expectations

Dollar revenue came at $ 1096.2 Mn,(2.5% QoQ, 3.5% YoY) vs expectation of $ 1085.5 Mn, QoQ $ 1069.4 Mn, YoY $ 1058.7 Mn

Net sales came at Rs. 9142.6 Cr (2.8% QoQ, 5.1% YoY) vs expectation of Rs. 9081.7 Cr, QoQ Rs. 8892.9 Cr, YoY Rs. 8702.1 Cr

EBIT came at Rs. 1370.9 Cr (4.8% QoQ, -5.5% YoY) vs expectation of Rs. 1372.4 Cr, QoQ Rs. 1308.7 Cr, YoY Rs. 1450.8 Cr

EBIT Margin came at 15% vs expectation of 15.1%, QoQ 14.7%, YoY 16.7%

Adj. PAT came at Rs. 1133.8 Cr vs expectation of Rs. 1157.4 Cr, QoQ Rs. 1099.9 Cr, YoY Rs. 1151.5 Cr

Quarter EPS is Rs. 38.3

Stock is trading at P/E of 28.3x FY26E EPS

ELECON ENGINEERING CO.LTD.

Stock Split From Rs.2/- to Rs.1/-

Previous day Closing Price – Rs. 1305.35

Ex - Stock Split 19 July 2024 (Tomorrow)

Last day trade for before split Today

Ex-Dividend 19 July 2024 (Tomorrow)

Last date for Cum-Dividend Today

Abbott India Ltd.

Dividend Per Share Rs.410

Previous day Closing Price – Rs. 28602.85

Apcotex Industries Ltd.\u0009\u0009

Dividend Per Share Rs.3.5\u0009\u0009

Previous day Closing Price – Rs. 449.55\u0009\u0009

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Arvind Ltd.\u0009\u0009

Special Dividend Per Share Rs.1\u0009\u0009

Dividend Per Share Rs.3.75\u0009\u0009

Previous day Closing Price – Rs. 384.3\u0009\u0009

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Bajaj Electricals Ltd.\u0009\u0009

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 1056.95

Blue Star Ltd.

Dividend Per Share Rs.7

Previous day Closing Price – Rs. 1736.15

Bosch Ltd.

Dividend Per Share Rs.170

Previous day Closing Price – Rs. 35102

Chennai Petroleum Corporation Ltd.

Dividend Per Share Rs.55

Previous day Closing Price – Rs. 1213.1

Chennai Petroleum Corporation Ltd.

Dividend Per Share Rs.55

Previous day Closing Price – Rs. 1213.1

Cholamandalam Investment And Finance Company Ltd

Dividend Per Share Rs.0.7

Previous day Closing Price – Rs. 1410.3

Cummins India Ltd

Dividend Per Share Rs.20

Previous day Closing Price – Rs. 3869.25\u0009\u0009

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Dabur India Ltd.\u0009\u0009

Dividend Per Share Rs.2.75\u0009\u0009

Previous day Closing Price – Rs. 640.8\u0009\u0009

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Delta Corp Ltd.\u0009\u0009

Dividend Per Share Rs.1.25\u0009\u0009

Previous day Closing Price – Rs. 143.1\u0009\u0009

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Dhanuka Agritech Ltd.\u0009\u0009

Dividend Per Share Rs.6\u0009\u0009

Previous day Closing Price – Rs. 1684.8\u0009\u0009

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Graphite India Ltd.\u0009\u0009

Dividend Per Share Rs.11\u0009\u0009

Previous day Closing Price – Rs. 556.8\u0009\u0009

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Gujarat Containers Ltd.\u0009\u0009

Dividend Per Share Rs.1.5\u0009\u0009

Previous day Closing Price – Rs. 175\u0009\u0009

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Hitech Corporation Ltd\u0009\u0009

Dividend Per Share Rs.1\u0009\u0009

Previous day Closing Price – Rs. 249.5\u0009\u0009

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Icra Ltd.\u0009\u0009

Dividend Per Share Rs.100\u0009\u0009

Previous day Closing Price – Rs. 6045.95\u0009\u0009

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Indian Hume Pipe Co.Ltd.\u0009\u0009

Dividend Per Share Rs.1.5\u0009\u0009

Previous day Closing Price – Rs. 443.4\u0009\u0009

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Jsw Infrastructure Ltd\u0009\u0009

Dividend Per Share Rs.0.55\u0009\u0009

Previous day Closing Price – Rs. 340.5\u0009\u0009

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Kotak Mahindra Bank Ltd.\u0009\u0009

Dividend Per Share Rs.2\u0009\u0009

Previous day Closing Price – Rs. 1805.2\u0009\u0009

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Life Insurance Corporation Of India\u0009\u0009

Dividend Per Share Rs.6\u0009\u0009

Previous day Closing Price – Rs. 1109.15\u0009\u0009

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Lloyds Engineering Works Ltd\u0009\u0009

Dividend Per Share Rs.0.2\u0009\u0009

Previous day Closing Price – Rs. 81.8\u0009\u0009

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Laxmi Organic Industries Ltd\u0009\u0009

Dividend Per Share Rs.0.6\u0009\u0009

Previous day Closing Price – Rs. 266.25\u0009\u0009

\u0009\u0009

Mangalam Cement Ltd.\u0009\u0009

Dividend Per Share Rs.1.5\u0009\u0009

Previous day Closing Price – Rs. 902.9\u0009\u0009

\u0009\u0009

Pds Ltd\u0009\u0009

Dividend Per Share Rs.3.15\u0009\u0009

Previous day Closing Price – Rs. 521.25\u0009\u0009

\u0009\u0009

Precision Camshafts Ltd\u0009\u0009

Dividend Per Share Rs.1\u0009\u0009

Previous day Closing Price – Rs. 185.15\u0009\u0009

\u0009\u0009

R.S.Software India Ltd.\u0009\u0009

Dividend Per Share Rs.0.25\u0009\u0009

Previous day Closing Price – Rs. 244.5\u0009\u0009

\u0009\u0009

Saint-Gobain Sekurit India Ltd.\u0009\u0009

Dividend Per Share Rs.2\u0009\u0009

Previous day Closing Price – Rs. 140.1\u0009\u0009

\u0009\u0009

Shanthi Gears Ltd.\u0009\u0009

Dividend Per Share Rs.2\u0009\u0009

Previous day Closing Price – Rs. 683.15\u0009\u0009

\u0009\u0009

Shree Digvijay Cement Co.Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 115.1\u0009\u0009

\u0009\u0009

Sumitomo Chemical India Ltd\u0009\u0009

Dividend Per Share Rs.0.9\u0009\u0009

Previous day Closing Price – Rs. 499.3\u0009\u0009

\u0009\u0009

Transport Corporation Of India Ltd.\u0009\u0009

Dividend Per Share Rs.2\u0009\u0009

Previous day Closing Price – Rs. 935.75\u0009\u0009

\u0009\u0009

Tata Consultancy Services Ltd.\u0009\u0009

Dividend Per Share Rs.10\u0009\u0009

Previous day Closing Price – Rs. 4175.35\u0009\u0009

\u0009\u0009

Tech Mahindra Ltd.\u0009\u0009

Dividend Per Share Rs.28\u0009\u0009

Previous day Closing Price – Rs. 1515.8\u0009\u0009

\u0009\u0009

Union Bank Of India\u0009\u0009

Dividend Per Share Rs.3.6\u0009\u0009

Previous day Closing Price – Rs. 139.65\u0009\u0009

\u0009\u0009

Zensar Technologies Ltd.\u0009\u0009

Dividend Per Share Rs.7\u0009\u0009

Previous day Closing Price – Rs. 778.85\u0009\u0009

\u0009\u0009

Zydus Wellness Ltd.\u0009\u0009

Dividend Per Share Rs.5\u0009\u0009

Previous day Closing Price – Rs. 2141.95

We model FY25E to be impacted by a slowdown in industry growth rates after strong growth over FY21-H1FY24; increase in commodity prices after deflation in FY24; and steep competitive pressures. Asian Paints will have to make multiple tough decisions in FY25 to support either margins or market shares. While it needs to raise prices to pass on input inflation, it also needs to raise ad-spend and feet-on-street to drive growth. Its pricing difference also cannot be materially higher than new competitors, as large pricing gap may result in market share loss. The company also needs healthy profitability in the decorative business to fund the investments in its new businesses such as Beautiful Homes/ Home Décor. While launches at bottom-of-pyramid may result in higher volume growth, value growth may remain muted, in our view. We model earnings decline in FY25E (first time after FY09) as well as impact on market shares. We reckon comfortable competitive equilibrium in paints is likely broken. Retain underweight on large cap paints. Maintain REDUCE.

Jefferies on Manappuram: Initiate Buy on Company, target price at Rs 270/Sh (Positive)

Jefferies on Muthoot Fin: Initiate Buy on Company, target price at Rs 2220/Sh (Positive)

Nomura on Aadhar Fin: Initiate Buy on Company, target price at Rs 550/Sh (Positive)

Investec on Medi Assist: Initiate Buy on Company, target price at Rs 625/Sh (Positive)

CLSA on DB Corp: Maintain Buy on Company, raise target price at Rs 450/Sh (Positive)

Citi on L&T FH: Maintain Buy on Company, target price at Rs 221/Sh (Positive)

Nomura on Bajaj Auto: Maintain Buy on Company, raise target price at Rs 10926/Sh (Positive)

GS on Eicher Motors: Maintain Buy on Company, raise target price at Rs 5400/Sh (Positive)

Citi on Eicher Motors: Maintain Buy on Company, raise target price at Rs 5300/Sh (Positive)

MOSL on Zen tech: Maintain Buy on Company, raise target price at Rs 1775/Sh (Positive)

ICICI on Indusind Bank: Maintain Buy on Company, target price at Rs 2000/Sh (Positive)

CLSA on Bajaj Auto: Maintain Underperform on Company, raise target price at Rs 7000/Sh (Neutral)

Investec on LTI Mindtree: Maintain Sell on Company, raise target price at Rs 5370/Sh (Neutral)

Jefferies on LTI Mindtree: Maintain Underperform on Company, raise target price at Rs 4920/Sh (Neutral)

CLSA on Eicher Motors: Maintain Underperform on Company, target price at Rs 4157/Sh (Neutral)

Nomura on Eicher Motors: Maintain Reduce on Company, target price at Rs 4119/Sh (Neutral)

MS on Eicher Motors: Maintain Underweight on Company, target price at Rs 3533/Sh (Neutral)

CLSA on Zee Ent: Maintain Hold on Company, target price at Rs 150/Sh (Neutral)

Citi on Hind Zinc: Maintain Sell on Company, target price at Rs 325/Sh (Neutral)

UBS on Asian Paints: Maintain Buy on Company, cut target price to Rs 3650/Sh (Neutral)

Morgan Stanley on Paints: “Competitive intensity among dealers remains high” (Negative)

GS on Asian Paints: Maintain Neutral on Company, cut target price to Rs 2750/Sh (Negative)

JP Morgan on Asian Paints: Maintain Neutral on Company, cut target price to Rs 2800/Sh (Negative)

Citi on Asian Paints: Maintain Sell on Company, cut target price to Rs 2400/Sh (Negative)

Jefferies on Asian Paints: Maintain Underperform on Company, cut target price to Rs 2100/Sh (Negative)

[7:52 am, 18/7/2024] KS BadriNarayanan: Economic Calendar – 18.07.2024

11:30 U.K. Claimant Count Change (Expected: 50.4K versus Previous: 50.4k)

17:45 EURO ECB Monetary Policy (Expected: 4.25% versus Previous: 4.25%)

18:00 U.S. Unemployment Claims (Expected: 225K versus Previous: 222K)

18:15 U.S. ECB Press Conference

[7:56 am, 18/7/2024] KS BadriNarayanan: Fund Houses Recommendations 

Jefferies on Manappuram: Initiate Buy on Company, target price at Rs 270/Sh (Positive)

Jefferies on Muthoot Fin: Initiate Buy on Company, target price at Rs 2220/Sh (Positive)

Nomura on Aadhar Fin: Initiate Buy on Company, target price at Rs 550/Sh (Positive)

Investec on Medi Assist: Initiate Buy on Company, target price at Rs 625/Sh (Positive)

CLSA on DB Corp: Maintain Buy on Company, raise target price at Rs 450/Sh (Positive)

Citi on L&T FH: Maintain Buy on Company, target price at Rs 221/Sh (Positive)

Nomura on Bajaj Auto: Maintain Buy on Company, raise target price at Rs 10926/Sh (Positive)

GS on Eicher Motors: Maintain Buy on Company, raise target price at Rs 5400/Sh (Positive)

Citi on Eicher Motors: Maintain Buy on Company, raise target price at Rs 5300/Sh (Positive)

MOSL on Zen tech: Maintain Buy on Company, raise target price at Rs 1775/Sh (Positive)

ICICI on Indusind Bank: Maintain Buy on Company, target price at Rs 2000/Sh (Positive)

CLSA on Bajaj Auto: Maintain Underperform on Company, raise target price at Rs 7000/Sh (Neutral)

Investec on LTI Mindtree: Maintain Sell on Company, raise target price at Rs 5370/Sh (Neutral)

Jefferies on LTI Mindtree: Maintain Underperform on Company, raise target price at Rs 4920/Sh (Neutral)

CLSA on Eicher Motors: Maintain Underperform on Company, target price at Rs 4157/Sh (Neutral)

Nomura on Eicher Motors: Maintain Reduce on Company, target price at Rs 4119/Sh (Neutral)

MS on Eicher Motors: Maintain Underweight on Company, target price at Rs 3533/Sh (Neutral)

CLSA on Zee Ent: Maintain Hold on Company, target price at Rs 150/Sh (Neutral)

Citi on Hind Zinc: Maintain Sell on Company, target price at Rs 325/Sh (Neutral)

UBS on Asian Paints: Maintain Buy on Company, cut target price to Rs 3650/Sh (Neutral)

Morgan Stanley on Paints: “Competitive intensity among dealers remains high” (Negative)

GS on Asian Paints: Maintain Neutral on Company, cut target price to Rs 2750/Sh (Negative)

JP Morgan on Asian Paints: Maintain Neutral on Company, cut target price to Rs 2800/Sh (Negative)

Citi on Asian Paints: Maintain Sell on Company, cut target price to Rs 2400/Sh (Negative)

Jefferies on Asian Paints: Maintain Underperform on Company, cut target price to Rs 2100/Sh (Negative)

11:30 U.K. Claimant Count Change (Expected: 50.4K versus Previous: 50.4k)

17:45 EURO ECB Monetary Policy (Expected: 4.25% versus Previous: 4.25%)

18:00 U.S. Unemployment Claims (Expected: 225K versus Previous: 222K)

18:15 U.S. ECB Press Conference

Novartis AG (Pre market) (Sector- Healthcare)

Abbott Laboratories (Pre market) (Sector- Healthcare)

Marsh & McLennan Companies, Inc. (Pre market) (Sector- Finance)

Blackstone Inc. (Pre market) (Sector- Finance)

Cintas Corporation (Pre market) (Sector- Miscellaneous)

D.R. Horton, Inc. (Pre market) (Sector- Realty)

M&T Bank Corporation (Pre market) (Sector- Finance)

Nokia Corporation. (Pre market) (Sector- Technology)

Textron Inc. (Pre market) (Sector- Defence)

Domino’s Pizza Inc (Pre market) (Sector- FMCG)

KeyCorp (Pre market) (Sector- Finance)

Snap-On Incorporated (Pre market) (Sector- Miscellaneous)

Taiwan Semiconductor Manufacturing Company Ltd. (Post market) (Sector- Technology) 

Netflix, Inc. (Post market) (Sector- Technology) 

Intuitive Surgical, Inc. (Post market) (Sector- Healthcare)

PPG Industries, Inc. (Post market) (Sector- Paints)

MarketAxess Holdings, Inc. (TENT) (Sector- Finance)

* BALRAMCHIN

* CHAMBAL

* GMRINFRA

* GNFC

* HINDCOPPER

* PEL

* RBLBANK

* VEDANTA

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Researchbytes Events Update

As of 07:24 AM Thursday 18 July 2024

Can set alert for them at www.researchbytes.com 

11:00 AM L and T Finance Hol

Dial: +91 22 6280 1486

Weblink: https://tinyurl.com/mrxfujd3

2:30 PM Vimta Labs

(Results)

Dial: +91 22 6280 1297

Weblink: https://tinyurl.com/yn4dt3wu

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6:00 PM Infosys

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Asian Paints : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305277

Bajaj Auto : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305244

DB Corp : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305235

Kellton Tech : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305238

Jubilant Ingrev : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305243

Century : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305220

Styrenix Performance Materials : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305211

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https://www.researchbytes.com/webcast.aspx?WID=305194

Ganesh Housing : (replay)

https://www.researchbytes.com/webcast.aspx?WID=305186

Angel One : (replay)

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Results today …

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

Recent interviews …

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Gift Nifty indicates another flat opening for the domestic markets. Nifty futures at Gift City is ruling at 24,660 against the NSE value of 24,644. As the results season has kicked in, the focus has now shifted to the financial performance of the key companies. Read more

Mcap: Rs35.4bn; CMP: Rs1343; TP: Rs1580; Upside: 18%; Rating: BUY

What happened: In the presence of senior officials from Honda Motor Co. Ltd. Japan, FIEM has inaugurated a new R&D centre in Japan. This will be solely used to strengthen its R&D prowess and add new technologies in lighting, especially for EV and Autonomous driving for both 2W and 4W OEMs.

Our view: 

~ We believe that this R&D centre not only strengthens FIEM’s relations with Honda but brings it much closer to Honda’s technology expertise in Japan. This will expedite adoption of new technologies at FIEM.

~ Within lightings, FIEM is working on multiple new products like ambient lighting, Laser booster headlamps, laser infrared night vision lamps, micro lens array technology which will help them get inroads in large 4W OEM’s. The R&D centre in Japan and recently inaugurated centre in Pune (for 4W) will work dedicatedly on developing these new technologies.

~ We believe that FIEM is at an inflection point of entering the 4W lighting industry with a strategy of building a very robust technological backbone. This drives our high conviction bullish stance on FIEM. AT CMP, FIEM is trading at attractive valuations of 14x Jun’26E PE. Re-iterate BUY.

CMP Rs. 585 | M Cap Rs. 9318 Cr | 52 W H/L 585/399

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 1024.3 Cr (-4.7% QoQ, -4.7% YoY) vs QoQ Rs. 1074.4 Cr, YoY Rs. 1075 Cr

EBIDTA came at Rs. 109.5 Cr (20% QoQ, -6.1% YoY) vs QoQ Rs. 91.2 Cr, YoY Rs. 116.7 Cr

EBITDA Margin came at 10.7% vs QoQ 8.5%, YoY 10.9%

Adj. PAT came at Rs. 47.7 Cr vs QoQ Rs. 29.3 Cr, YoY Rs. 57.6 Cr

Quarter EPS is Rs. 3

Stock is trading at P/E of 29.1x FY25E EPS

CMP Rs. 2151 | M Cap Rs. 24026 Cr | 52 W H/L 2420/884

(Nirmal Bang Retail Research)

New Booking came at rs.262cr in Q1FY25 vs QoQ Rs.2881cr YoY Rs.207cr

Paper Business remain flat QoQ 

Result declining

Revenue from Operations came at Rs. 1149.2 Cr (-31.8% QoQ, 2.9% YoY) vs QoQ Rs. 1685.9 Cr, YoY Rs. 1117.3 Cr

EBIDTA came at Rs. 106.5 Cr (-60.3% QoQ, -15.7% YoY) vs QoQ Rs. 268.2 Cr, YoY Rs. 126.3 Cr

EBITDA Margin came at 9.3% vs QoQ 15.9%, YoY 11.3%

Adj. PAT came at Rs. 7.8 Cr vs QoQ Rs. 3.8 Cr, YoY Rs. 58.5 Cr

Quarter EPS is Rs. 0.7

Stock is trading at P/E of 55.5x FY25E EPS

CMP Rs. 435 | M Cap Rs. 21433 Cr | 52 W H/L 440/126

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 1200.4 Cr (2% QoQ, 26.2% YoY) vs QoQ Rs. 1177 Cr, YoY Rs. 950.9 Cr

EBIDTA came at Rs. 191.9 Cr (6.9% QoQ, 43.2% YoY) vs QoQ Rs. 179.5 Cr, YoY Rs. 134 Cr

EBITDA Margin came at 16% vs QoQ 15.3%, YoY 14.1%

Adj. PAT came at Rs. 122.6 Cr vs QoQ Rs. 115.2 Cr, YoY Rs. 86.2 Cr

Quarter EPS is Rs. 2.5

Stock is trading at P/E of 47.9x TTM EPS

CMP Rs. 378 | M Cap Rs. 6726 Cr | 52 W H/L 400/182

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 589.9 Cr (-4.4% QoQ, 6.4% YoY) vs QoQ Rs. 617.1 Cr, YoY Rs. 554.2 Cr

EBIDTA came at Rs. 164.5 Cr (-4.4% QoQ, 41.2% YoY) vs QoQ Rs. 172.1 Cr, YoY Rs. 116.5 Cr

EBITDA Margin came at 27.9% vs QoQ 27.9%, YoY 21%

Adj. PAT came at Rs. 117.9 Cr vs QoQ Rs. 122.5 Cr, YoY Rs. 78.8 Cr

Quarter EPS is Rs. 6.6

Stock is trading at P/E of 14.3x FY25E EPS

CMP Rs. 4516 | M Cap Rs. 33022 Cr | 52 W H/L 5269/3661

(Nirmal Bang Retail Research)

Result ok

Revenue from Operations came at Rs. 797.4 Cr (8.1% QoQ, 3.4% YoY) vs QoQ Rs. 737.7 Cr, YoY Rs. 771 Cr

Rating revenue (27% mix of total) came at Rs. 213 Cr (+11 % YoY)(+5% QoQ)

Research revenue (73% mix of total) came at Rs. 585 Cr (+1% YoY)(+9% QoQ)

EBIDTA came at Rs. 206.7 Cr (7.6% QoQ, -0.7% YoY) vs QoQ Rs. 192.1 Cr, YoY Rs. 208.1 Cr

EBITDA Margin came at 25.9% vs QoQ 26%, YoY 27%

Adj. PAT came at Rs. 150.1 Cr vs QoQ Rs. 137.7 Cr, YoY Rs. 150.6 Cr

Quarter EPS is Rs. 20.5

Stock is trading at P/E of 41.7x FY25E EPS

Bajaj Auto Ltd. | CMP Rs. 9746 | M Cap Rs. 272089 Cr | 52 W H/L 10039/4541

(Nirmal Bang Retail Research)

No of vehicle sold came at 1102056 vs QoQ 1068576 (3%) YoY 1027407 (7%)

Result is in-line with expectations

Revenue from Operations came at Rs. 11928 Cr (3.9% QoQ, 15.7% YoY) vs expectation of Rs. 11807.3 Cr, QoQ Rs. 11484.7 Cr, YoY Rs. 10309.8 Cr

EBIDTA came at Rs. 2415.3 Cr (4.7% QoQ, 23.6% YoY) vs expectation of Rs. 2358.9 Cr, QoQ Rs. 2306.3 Cr, YoY Rs. 1953.9 Cr

EBITDA Margin came at 20.2% vs expectation of 20%, QoQ 20.1%, YoY 19%

Adj. PAT came at Rs. 1988.3 Cr vs expectation of Rs. 1979.2 Cr, QoQ Rs. 1936 Cr, YoY Rs. 1664.8 Cr

Quarter EPS is Rs. 71.2

Stock is trading at P/E of 31x FY25E EPS

CMP Rs. 2892 | M Cap Rs. 1668 Cr | 52 W H/L 2892/630

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 69.7 Cr (-17.3% QoQ, 59.2% YoY) vs QoQ Rs. 84.3 Cr, YoY Rs. 43.8 Cr

EBIDTA came at Rs. 15.1 Cr (-9.9% QoQ, 506.5% YoY) vs QoQ Rs. 16.7 Cr, YoY Rs. 2.5 Cr

EBITDA Margin came at 21.6% vs QoQ 19.8%, YoY 5.7%

Adj. PAT came at Rs. 14.8 Cr vs QoQ Rs. 14.8 Cr, YoY Rs. 5.4 Cr

Quarter EPS is Rs. 25.6

Stock is trading at P/E of 34.8x TTM EPS

LOTUS CHOCOLATE(700.75) 30D H/L 747/470

Cons.PBT: 10.40 vs 1.49 vs 0.02 cr. AWESOME

PAT: 9.41 VS 1.18 VS 0.20 Cr. 

---------------------------------------

L & T Finance(184.25) 30D H/L 194.25/175

Cons.PBT: 922.27 vs 694.02 vs 713.58 cr.

PAT:685.25 VS 553.02 VS 530.52 Cr. Good Nos.

-----------------------------------------

BMW Indust.(Fv1) 62.87 30D H/L 66/ 58

Cons.PBT: 29.4 vs 24.84 vs 21.34 cr.

PAT: 22.16 VS 19 VS 15.57 Cr. Good Nos.

--------------------------------------

RATNAVEER Precision(172) 30D H/L 176.78/124

PBT: 17.45 vs 5.68 vs 10.67 cr.

PAT: 12.51 VS 5.61 VS 8.21 Cr. Good Nos.

------------------------------------

Aditya Birla Money(Fv1)166 30D H/L 183.40/152

PBT: 22.32 vs 20.42 vs 13.05 cr.

PAT: 16.36 VS 16.43 VS 9.44 Cr. Improve

BSE:+51(80716)

NSE:+26(24613)

BNF:-59(52396)

MID:-137(47823)

SML:+173(54301)

FII|FPI:+1271.45Cr

DII:(-529.48Cr)

B.Crude: 83

Gold$:2430=INR: 73631

Silver: 92609

$/Rs: 83.58

7.10 : 2034 G-Sec: 6.96 (6.97 prv)

NSE PE: 23.39

VIX: 14.22 +0.035 (0.25%)

FIIs - FY24-25

MTD: +14674.88Cr

DIIs - FY24-25

MTD: +4144.90Cr

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Recent Interview...

As of 18:37 PM Tuesday 16 July 2024

Styrenix Performance Materials: Rahul Agrawal, MD

Styrenix Stock Rally: Healthy Q1 Recorded, What’s The Plan To Gain Market Share In Future Growth?

https://www.youtube.com/watch?v=s2HzaevVVgw

Jupiter Wagons: Vivek Lohia, Managing Director

Jupiter Wagon: Funds Utilised In New Axle Plant, How Will New Plant Expand The Export Breaks?

https://www.youtube.com/watch?v=RZvFQTm-7Lg

Dhanlaxmi Bank: Ajith Kumar KK, MD&CEO

Dhanlaxmi Bank: Weak Q1 For Company, What Factors Led The Biz Growth Downwards? | Ajith Kumar

https://www.youtube.com/watch?v=6b9h-AyJ6Ho

HCL Tech: Pratik Aggarwal, CFO

HCL Tech Q1 Earnings: Mild Beat On Margins, Revenue | Here’s What Management Has To Say

https://www.youtube.com/watch?v=BBXE_yJfD6k

LT Foods: VK Arora, CMD

LT Foods Biz: Co Eyeing Revenue From UK Facility, What’s The Expansion Plan Of Biz In UK Market?

https://www.youtube.com/watch?v=OCiI0KNhS30

Puravankara: Abhishek Kapoor, Group CEO

Puravankara: Co’s Pre-Sales Affected Q1 Earnings, How Will Realty Demand Trend Be Improved Ahead?

https://www.youtube.com/watch?v=glOitJUDleM

Anand Rathi Wealth: Feroze Azeez, CEO

Larger Wallet Share Is One Of The Reasons For Strong Growth: Anand Rathi Wealth

https://www.youtube.com/watch?v=hFWNGW87UzY

Poly Medicure: Himanshu Baid, MD

PLI Scheme Needs To Be Expanded & Should Focus On Downstream Opportunities: Poly Medicure

https://www.youtube.com/watch?v=N3ciqtavVco

Protean eGov Te: Suresh Sethi, MD & CEO

New-Age DPIs & Cloud Infra Services Are New Growth Opportunities: Protean eGov Technologies

https://www.youtube.com/watch?v=_wJqs_ulLIs

Senco Gold Limited: Suvankar Sen, CEO

Senco Gold: Strong Q1 Recorded By Company, What’s The Expansion Plan For Future? | ET Now

https://www.youtube.com/watch?v=8bMWAPCMIrw

Events today…

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

Results today…

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

Replays available at www.researchbytes.com

Life Insurance Corporation of India (LIC) has entered into a tie-up with IDFC First Bank Ltd under corporate agency arrangement. Read more

Indian Railways has been asked to expedite the installation of black-box-type devices across its locomotives – a retro-fitment that it has been carrying out in select routes so far. Read more

The stock of Devyani International broke out of resistance at ₹170 in early June. But then, the uptrend lost momentum, and the price declined before the stock entered a sideways trend. However, after some consolidation so far this month, the scrip has seen a sharp rise in price this week. Read more