CUPID LIMITED: BUY TP 450



*Rationale for Recommendation*
🎯 Low Equity Base & DEBT FREE.

🎯 Liquid Cash of ₹72 crores incl. ₹67.26 crores in Funds (as on Dec 4) & ₹4.51 crores of Fixed Deposits. Equivalent to ₹54 per share. Effective stock price is ₹197.

🎯 More than 20 years’ experience. In-house R&D Center. Contract manufacturing (OEM).

🎯 First company in the World to have been prequalified by WHO-UNFPA for supply of both Male & Female condoms. Exported condoms to 80+ countries.

🎯 Cupid’s manufacturing facility is designed to facilitate world-class manufacturing of quality products with Hitech German Technology Dipping Line as per GMP guidelines.

🎯 *Cupid’s confirmed order book stands at approx. ₹120 crores as on Oct 1, 2020.*

🎯 Cupid’s board has considered and approved the Service Provider and License Agreement between Cupid Limited and Invex Health Private Limited for *manufacturing of Medical Devices including various testing kits/diagnosing kits by Cupid Limited.*

⭕ *Cheapest Medical Devices stock in peer group PE is 45+ whereas Cupid is trading at 8.4x (FY20), 7.63 (FY21E) and 6.32x (FY22E).*


_*“During 2019-20, Cupid commenced export of female condoms to Brazil and also exported male condoms to Tanzania and South Africa. The order from Brazil is by far the largest single order Cupid has received in its 27 years history. Our continued focus on penetrating new geographies enabled us to win exports orders from 8 new countries through UNFPA. Till date, the Company has sold its products to over 80 countries worldwide.*_

*Products & Capacity*
Cupid’s manufacturing facility is located at Sinnar near Nashik, about 200 km East of Mumbai.

♀️ *Male condoms*, _480 million pieces per annum._
♀️ *Female condoms*, _52 million pieces per annum._
♀️ *Water Based Lubricant Jelly*, _210 million sachets per annum._
♀️ *Clean & Safe Hand Sanitizer.*
♀️ *Clean & Safe Hair Remover.*

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Economic Times

 

Business Standard

Ø  RBI Governor meets MDs, CEOs of NBFC-Micro Finance institutions

Ø  Recovery path for several sectors delayed due to second Covid wave: India Ratings

Ø  WHO seeks to fill COVID-19 vaccine gap left by India suspending exports

Ø  Bajaj Auto sells 1,34,471 units in domestic market in April

Ø  Motherson Sumi acquires Bombardier's electrical wiring business

Ø  OPEC's share of Indian oil imports plunges to 2 decade low: Trade sources

 

Ø  RBI imposes Rs 3 cr fine on ICICI Bank for violating certain rules

Ø  YES Bank's capital requirement for current fiscal pegged at Rs 7,500 cr

Ø  JSW Energy signs PPA for 540 MW of wind power projects

Ø  IDBI Bank Q4 net profit jumps 278% to Rs 512 crore; NII rises 38%

Ø  Kotak Mahindra Bank's consolidated net profit rises 36% in Q4FY21

Ø  Fidelity halves valuation of Ant Group after Chinese crackdown: Report

Business Line

 

Mint

Ø  CII calls for curbs on economic activity to contain Covid spread

Ø  Income Tax Dept sets threshold for significant economic presence

Ø  April factory activity improves and output prices soar amid Covid blues

Ø  Sugar mills get orders to supply 302 cr litres of ethanol

Ø  Demand for pre-owned two-wheelers up 20% YoY: OLX Autos

Ø  HomeFirst Finance Q4 net profit surges 151%

 

Ø  L&T Tech reports Q4 net profit at ₹194.5 crore; recommends ₹14.5/sh dividend

Ø  Uday Kotak bats for central bank balance sheet expansion to fight covid

Ø  Sebi eases timelines for compliance with requirements by debenture trustees

Ø  Limited store hours may impact availability of FMCG goods

Ø  PowerGrid InvIT sails through with 4.83 times subscription

Ø  Growth of 6% in corporate revenue projected in FY22: Ind-Ra

Financial Express

 

Business World

Ø  75 lakh people lose jobs in April as lockdowns sprout; unemployment at a 4-month high: CMIE chief

Ø  Gas-based power plants want relaxed bidding norms for ONGC tender

 

Ø  Sensex Recovers 690 Points, Ends Lower By 64 Points

Ø  Kerala Housing Finance Case: Sebi To Auction Property On June 4

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Stocks To Watch

ICICI Bank: RBI has imposed a Rs 3 crore penalty on the bank for contravention of prudential norms for classification, valuation and operation of the investment portfolio of banks. RBI found contravention of norms in an instance where the bank shifted securities from one category to another.

JSW Steel: The company's unit JSW Renew Energy has signed a power purchase agreement with Solar Energy Corporation of India for 540 MW of blended wind capacity out of a total awarded capacity of 810 MW. JSW Future Energy had in September 2020 received contracts for 810 MW wind capacity after a competitive bidding process from SECI for setting up 2500 MW ISTS-connected Blended Wind Power Projects.

Motherson Sumi Systems: Motherson Rolling Stocks, a subsidiary of the company, has completed the acquisition of assets and activities of Electrical Wiring Interconnection Systems performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico.

Nava Bharat Ventures: Has entered into a binding agreement for the sale of plant and equipment, excluding land, pertaining to the sugar division of the company situated at Samalkot in Andhra Pradesh.

Zuari Agro: Says shutdown ammonia and urea plants for annual maintenance effective May 3

Bafna Pharmaceuticals: Says UK MHRA approves newly added packaging lines

Nifty Earnings: Adani Ports & Special Economic

Non-Nifty Earnings: Adani Total Gas Ltd., Alembic Pharmaceuticals Ltd., DCM Shriram Ltd., Greaves Cotton Ltd., IIFL Securities, Larsen & Toubro Infotech Ltd., Procter & Gamble Hygiene, RBL Bank Ltd. and Suven Life Sciences Ltd

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Trading Tweaks

Ex-Date Interim Dividend: Gateway Distriparks

Price Band Revised From 10% To 5%: Shree Renuka Sugars

Price Band Revised From 20% To 10%: Ashapura Minechem, Avadh Sugar and Energy, Reliance Infrastructure, Uttam Sugar Mills

Move Into Short-Term ASM Framework: The Investment Trust Of India, Filatex India, Reliance Infrastructure, Uttam Sugar Mills

Move Out Of Short-Term ASM Framework:Nectar Lifesciences

Move Into ASM Framework: Balrampur Chini Mills

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Pledge Share Details

Elecon Engineering: Promoter Emtici Engineering created a pledge of 75 lakh shares on April 30.

Emami: Promoter Sneha Gardens revoked the pledge of 10.39 lakh shares between April 29-30. Promoter Sneha Enclave created a pledge of 9.30 lakh shares on April 28.

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Money Market Update

The rupee ended at 73.91 against the U.S. dollar on Monday as compared to Friday's closing of 74.06

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World Markets Correction

Dow + 238
Nasdaq - 68
Dax + 101
Nikkei Closed
Hangseng + 115
Sgxnifty - 31 (14669)
Brent Crude 67.18
Dow Fut - 57
Dollar Index 91.02

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*Good Morning*
• Oil Advances With European Union Looking to Open Borders
• Sugar Production in India Jumps 16% Y/y From October to April
• India Govt Issues PLI Guideline for Food Processing Industry
• RBI: DG Rabi Sankar in Charge of Internal debt Management
• SpiceJet Defers Salaries for 50% of its Employees on Virus Surge
• Traders Tiptoeing Into May Dial Back Emerging-Market Bull Case
o Emerging Market ETFs Rise for 26th Week in $41.3B Streak
• Global Funds Sell Net INR22.9B of India Stocks on Monday: NSE
o Domestic funds buy net 5.53b rupees of stocks
• Foreign Investors Sell Net INR31.5B of Indian Equities April 30
• Foreigners Buy Net INR6.54B of Indian Equity Derivatives Monday
• India-UK close to signing migration and mobility partnership: Report: PTI
• Situation in India heartbreaking, says ArcelorMittal CEO: PTI
• Bafna Pharmaceuticals (BFNA): Says UK MHRA approves newly added packaging lines
• ICICI Bank (ICICIBC): RBI Fines ICICI Bank INR30m for Investment Portfolio Violation
• L&T Technology (LTTS): 4Q net income -5% y/y to 1.95b rupees, est. 1.99b
• JSW Energy (JSW): Signs power purchase pact for 540mw of wind capacity
• SBI Life (SBILIFE): 4Q net income 5.32b rupees, misses estimate 6.24b
• Tata Chemicals (TTCH): 4Q net income 117.7m rupees vs. 64.2b rupees Y/y; Revenue +11% to 26.4b
• Zuari Agro (ZUAC): Says shutdown ammonia and urea plants for annual maintanance effective May 3

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*SGX Nifty -15 pts (14686) from last trade 14700*

Nikkei shut,
Hangseng shut,
Now @6.50am.

Dow +238.38 pts ,Nsdq -67.56 pts, S&P +11.49 pts, Bovespa +315 pts , Ftse +8 pts , Dax +100 pts , Cac +38 pts , Crude @ $64.65 brl (+0.15), Brent @ $67.56 brl (+0.29) , Gold @ 1791.80 (+0.00), Silver @ $26.98 (+0.03), Euro @ $1.2059, JPY @ $109.10, INR @ 73.815

*Today's Corporate Action*
*4th May Ex Date*
GDL
Interim Dividend - Rs. - 5.0000

LXMIATO
Consolidation of Shares

*Today's Key Results/Board Meetings*
*4-May-21*
ADANIPORTS
Dividend;Audited Results

APLLTD
Dividend; Audited Results; General

APOLLOPIPES
Audited Results; Quarterly Results

ATGL
Dividend;Audited Results

BHAGCHEM
A.G.M.;Audited Results;General

DCMSHRIRAM
Dividend;Audited Results

DRAGARWQ
Audited Results

EIHAHOTELS
Audited Results

ELANGO
Audited Results

ELANTAS
Quarterly Results

GREAVESCOT
Dividend;Audited Results

IIFLSEC
Audited Results

LTI
Dividend;Audited Results

MOREPENLAB
Audited Results

PGHH
Interim Dividend; Quarterly Results

RBLBANK
Audited Results

SHRGLTR
General

SKIPPER
Final Dividend;Audited Results

SRIPIPES
Audited Results

SUVEN
Audited Results

TRISHAKT
General

VIKASWSP
Quarterly Results

*Stock under F&O ban on NSE*
*4-May-21*
1SUNTV

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FII and DII Trading activities as on 03May2021
FII F&O (Net)+654.34Cr
FII INDEX FUTURES-1915.93Cr
FII INDEX OPTIONS+2799.16Cr
FII STOCK FUTURES-193.35Cr
FII STOCK OPTIONS-35.54Cr
FII CASH-2289.46Cr
DII CASH+552.92Cr

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GM jsk stock in news intellect, adaniport,supremeind,pfizer,wockhard, alembicpharma,uttamsugar,natco,tvsmot,vbl,tbz,apollotricot,ramcocem,indiacem,sagarcem. Negative stocks godrejprop,infoedge,icicibk,tatachem,lntinfo. Nifty range 14500-14780

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TODAY WE MAY SEE MAJOR RESISTANCE NEAR 14748/14825 AND SUPPORT ZONE AT 14612/14570 EITHER OR SURVIVE THEN POSSIBLE TO SEE 14370-15075

NIFTY POSITIVE TREND ABOVE- 14717 THEN WE MAY SEE 14742/14780/14825/14860

NIFTY NEGATIVE TREND BELOW 14665 THEN WE MAY SEE 14628/14580/14536/14496

BANK NIFTY RANGE WE MAY SEE 32600-33800 MAJOR SUPPORT AT 33400 BUY IS ADVISABLE AND RESISTANCE AT 32960 SHORT IS Advisable. https://t.me/marketswizard

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Damodar Ind set to fly soon ✈️✈️✈️

Manaksia aluminium 12.85❤️

Modisnme 64.9❤️❤️

Bajaj Steel 596.8❤️

Damodar 27.8❤️