*HDFC Asset Management Company Ltd. - S* | *CMP* Rs. 3147 | *M Cap* Rs. 67053 Cr | *52 W H/L* 3359/2070
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 507 Cr vs expectation of Rs. 516 Cr, YoY Rs. 411 Cr, QoQ Rs. 503 Cr
EBITDA came at Rs. 381 Cr, YoY Rs. 316 Cr, QoQ Rs. 396 Cr. Q1FY22 EBITDA has Rs.17cr ESOP charge
EBITDA Margin came at 75.1%, 76.9% vs QoQ 78.8%
PBT came at Rs. 466 Cr, YoY Rs. 380 Cr, QoQ Rs. 423 Cr
PAT came at Rs. 345 Cr vs expectation of Rs. 340 Cr, YoY Rs. 302 Cr, QoQ Rs. 316 Cr
Quarter EPS is Rs. 16.2
Share is trading at P/E of 39.5x FY23E EPS & 13.1x trailing P/BV

Dear Members,

We would like to inform you that due to some issues and problems, MARKET WIZARD NEWSLETTER ISSUE 19 will be published tomorrow. Sorry for the inconvenience caused.

TEAM MARKET WIZARD

Tata Power, has signed an agreement with Hindustan Petroleum Corporation Limited (HPCL), to provide end-to-end EV charging stations at HPCL’s retail outlets (petrol pumps) in multiple cities and major highways across the country. Positive

RELIANCE INDUSTRIES: RELIANCE RETAIL TO ACQUIRE MAJORITY STAKE OF 66.95% IN JUST DIAL

RELIANCE INDUSTRIES: RELIANCE RETAIL VENTURES TO HOLD 40.95% AND WOULD MAKE AN OPEN OFFER TO ACQUIRE UPTO 26.0% IN ACCORDANCE WITH TAKEOVER REGULATIONS

Dear Members,

We would like to inform you that due to some issues and problems, MARKET WIZARD NEWSLETTER ISSUE 19 will be published tomorrow. Sorry for the inconvenience caused.

TEAM MARKET WIZARD

📢📢📢

Good Afternoon to all Members

This month marks up a successful completion of our 1 year journey with Market Wizard Premium Group

Throughout this one year , many new members joined, many left, some availed monthly Membership and some availed Yearly Membership.

On our successful completion of 1 year we have introduced some offers for those who want to avail our Quarterly Membership and Yearly Membership.

Members those who want to avail membership for August following are the charges:

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Quarterly- 4k
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*SEBI nixes margin requirement for sellers in the cash segment*

_Brokers just need to tell depositories to block the shares intended to be sold. SEBI has eased margin related processes for those selling shares in the stock market. No more do stock brokers need collect upfront margin from sellers in the cash segment. They can ask the depository player holding a client’s demat account to block the shares intended to be sold and release them at the end of the day if the sale does not happen._
https://www.thehindubusinessline.com/markets/stock-markets/sebi-nixes-margin-requirement-for-sellers-in-the-cash-segment/article35370937.ece

🗞️ *Business News Updates - Saturday, 17 July, 2021*

• India's ambition to become the next China has a flip side

• Covid impact: Consumers uncertain, see income drop, erosion in savings

• Pandemic helped drive the goals of financial inclusion: Debasish Panda

• Debt Recovery Tribunal sells shares worth Rs 716 crore in United Spirits

• Naredco team meets FM; demands one-time loan restructuring, funding for stuck projects

• Nitin Gadkari says MoRTH has formalised registration process of Vintage Motor Vehicles in India

• Board has asked us to get ready for IPO: Oyo CFO

• How the government's new draft policy will affect the adoption of drones in India?

• L&T Finance Holdings Q1 profit rises 20% to Rs 178 crore

• PFRDA pension subscriber base rises 24% to touch 4.35 crore in June

• Expect deal wins to go up as demand environment remains robust: Mindtree CEO Debashis Chatterjee

• HDFC AMC Q1 profit after tax rises 14% to Rs 345.45 crore

• Reliance Just Dial Deal | RRVL to acquire majority stake of 66.95% in VSS Mani's B2B platform

• Tata Power ties up with HPCL to provide end-to-end EV charging stations

• Investors to get option to block securities in demat accounts for sale transactions: Sebi

• Serum Institute hasn't applied for full marketing approval of Covishield in Europe: Sources

• 2020 was very unusual year for all: Vedanta's Anil Agarwal

• Gold prices drop to Rs 48,273 per 10 gram, gain 0.86% in the week; silver slips

• Government to come out with Green Hydrogen Purchase Obligation: RK Singh

• Ahmedabad-based clinical research organisation Veeda acquires controlling stake in Bioneeds

• Profiteering, fraud, inequality — Dogecoin co-founder Jackson Palmer reveals dark side of cryptocurrency

• SEBI justifies intervention in PNB Housing-Carlyle deal, citing need for independent valuation

• Insurance-averse MSME sector hit harder by Covid; experts call for higher coverage

• KTM cuts price of 250 Adventure by Rs 25,000 till August

• BharatPe co-founder Ashneer Grover makes Rs 150 crore personal application in Zomato IPO

• Assam's MFI relief scheme to support stressed borrowers; Rs 25,000 crore incentives for regular repayments

• JMC Projects bags new orders worth Rs 1,624 crore

• Crude oil price fall on concerns of rising Delta variant cases, excess supply

• SpiceJet launches eight new flights connecting Madhya Pradesh as part of Udan scheme

• Silver prices slide below Rs 69,500/kg on weak economic data, volatile dollar

• Honda open to new alliances to bring down EV costs, says CEO Toshihiro Mibe

• Berkshire Hathaway, Ratan Tata among major investors looking to exit Paytm in record IPO

• Banks recover another Rs 792 crore from Kingfisher Airlines share sale

• India's forex reserves rise by $1.88 billion to record high of $611.89 billion

• common man is ‘paying the price’ for inflation

• Sales of manufacturing companies rose 31 percent in January-March, helped by base effects: RBI

• Naresh Trehan’s Medanta looks to launch IPO; talks with five investment bankers on

• Taj Hotels to expand property portfolio by 36% in 3-5 years with asset-light growth

• Wipro CEO Thierry Delaporte: Will hit $10-billion run rate in Q2, grow by 20% this year

• Northern Arc Capital files DRHP as IPO rush continues

• Tatva Chintan Pharma Chem IPO subscribed 4.50 times on Day 1

Financial News Bulletin Dt.17th July, 2021 forwarded by Allahabad Bank Employees' Union-APTS-affiliated to All India Bank Employees' Association (AIBEA)

The RBI is in the process of publishing a financial inclusion index shortly, even as the country has improved its performance on the inclusion part, Governor Shaktikanta Das said.  “The financial inclusion index will have parameters across the three dimensions of financial inclusion viz., Access, Usage and Quality. Work on FI Index is underway and the Index will be published shortly by the RBI,” Governor Das said.
-Business Standard

A consortium of banks led by SBI has realised Rs 792.11 Cr by sale of shares in the Kingfisher Airlines / Vijay Mallya case, the Enforcement Directorate said today. These shares were handed over by the ED to the consortium. Earlier, the same consortium had recovered Rs 7,181.50 Cr by liquidating assets handed over by the ED. In addition, assets worth Rs 1,060 Cr have been allowed to the banks by Fugitive Economic Offense Court in the Nirav Modi case and Rs 329.67 Cr has been confiscated by the ED under the provisions of the Fugitive Economic Offenders Act.
- Moneycontrol.com

Bank of Maharashtra (BoM) has signed MoU with NABARD to boost ongoing developmental initiatives linked to priority sector lending in Maharashtra. The MoU envisages joint initiatives for the benefit of farmers, farmer producer organisations, joint liability groups, self help groups, rural artisans, weavers, agri-preneurs, agri start-ups, MSMEs in the State, BoM said in a statement.
-Business Line

Physical bank branches will continue to play an important role in rural areas, despite the adoption of digital transactions seeing a significant jump in these areas in the last 18 months, say bankers. “Rural is becoming digital but it needs a physical presence. Rural will always remain a little bit physical,” IndusInd Bank MD & CEO Sumant Kathpalia said.
-Business Standard

The RBI remained net buyer of the US dollar in May 2021, after it net purchased USD 5.842 billion from the spot market, according to data from the central bank. In the reporting month, the RBI purchased USD 7.142 billion while sold USD 1.3 billion in the spot market, the monthly RBI bulletin for July 2021, released on Thursday, showed. In April this year, the RBI had net bought USD 4.212 billion. It had purchased USD 8.182 billion and sold USD 3.97 billion.
-Business Standard

India’s monetary policy makers need to support economic growth even at the cost of their inflation -fighting credentials, as tackling the pandemic situation requires extraordinary measures, a former central bank governor said. The federal Govt’s large borrowing plan and the RBI’s willingness to support it are bound to fan inflation, Chakravarthy Rangarajan, who headed the RBI during 1992-97, said. What the central bank should be worried about is how high the inflation goes up, he said.
-Business Standard

As the covid-19 pandemic shows early signs of coming under control across large parts of the world, the policy responses to its economic consequences are starting to unwind, so far in an orderly manner, S&P Global Ratings said. In turn, the effects of the pandemic on banks' asset quality are becoming a little less uncertain and a little less negative compared to our Feb 2021 forecasts, it said.
-Livemint

SIDBI reported a 3.6% increase in FY21 net profit at ₹2,398 Cr against ₹2,315 Cr in FY20 on the back of lower interest and finance charges as well as operating expenses.
-Business Line

The SEBI told the Securities Appellate Tribunal today that the board of directors of PNB Housing Finance had erred in approving the pricing for the preferential allotment of shares as it did not conform to the Co's articles of association.
-Business Standard

USD /INR 74.55
Sensex 53140.60 (-18.79)
BSE Bankex 40499.65 (-189.21)
Nifty 50 15923.4 (-0.8)
Nifty Bank 35751.8 (-155.85)

HDFC BANK Q1 : Net profit down 5 % To Rs 7730 cr (QOQ)

Hdfc Bank Q1 : Gross NPA at 1.47 % V 1.32 % (QOQ)

Net Npa At 0.48 % V 0.40 % (QOQ)

*Sterlite Power*

Sterlite Power is a leading global developer of power transmission infrastructure with projects of over ~12,500 circuit km and 22,719 MVA in India and Brazil.
Sterlite Power offers solutions for upgrading, praying, and strengthening existing power transmission networks.
Sterlite Power is the second most prominent power transmission company of India after Power Grid, it is much ahead of Adani Transmission and Essel Group in terms of market share.
Sterlite Power has robust orders in India and Brazil.
Sterlite Power has a market share of about 31.5 percent in terms of tariffs. Power Grid has a market share of 36 percent, whereas Adani Transmission has less than 18 percent, according to a report by the Institute of Energy Economics and Financial Analysis (IEEFA), released in February 2020.
Sterlite Power is also planning an IPO this year.
Sterlite Power's current market price is 1150, so it is available at Mcap of ~6000 Crores whereas its peers Adani and Power-Grid are trading at Mcap of more than 1 Lac Crores.

Summary for Tatva Chintan IPO

⏩ Marquee domestic and global names such as Goldman Sachs, HSBC Global, Nomura, SBI, HDFC and ICICI Prudential are some of the investors who have picked up a stake in the company through the anchor book portion.

🟢 Goldman Sachs, HSBC, Axis Mutual fund, Malabar India Fund, Nippon Life India, Abu Dhabi Investment Authority and Nomura Funds have each bought more than 6% of the anchor book portion

🟢 Of the total anchor investment, 47% or 6.46 lakh equity shares have been sold to seven domestic mutual funds. These include ICICI Prudential, HDFC AMC, Axis Mutual Fund, Aditya Birla Sun Life, SBI, Nippon India and Mirae Asset Hybrid

🟢 Upcoming expansion plan will increase the company’s aggregate capacity by 200 kilo liters (71.4%), which is a significant expansion and could impact profitability and return ratios in the next 2-3 years.

🔴 The stock is valued at 31.3X FY24 earnings

🔴 P/E valuation of 45.9x (Higher P/E than Deepak Nitrite)

now they are giving targets of 3 00 000 for sensex

https://m.economictimes.com/markets/stocks/news/sell-your-diamonds-but-not-your-stocks-raamdeo-agrawal/articleshow/84335062.cms

*Den Networks Ltd.* | *CMP* Rs. 55 | *M Cap* Rs. 2625 Cr | *52 W H/L* 115/42
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 302.9 Cr (-7.2% QoQ, 0.5% YoY) vs QoQ Rs. 326.2 Cr, YoY Rs. 301.3 Cr
EBIDTA came at Rs. 47.5 Cr (-26.8% QoQ, -25.7% YoY) vs QoQ Rs. 64.9 Cr, YoY Rs. 63.9 Cr
EBITDA Margin came at 15.7% vs QoQ 19.9%, YoY 21.2%
Lower Depreciation led to higher PAT
Adj. PAT came at Rs. 40.9 Cr vs QoQ Rs. 37 Cr, YoY Rs. 58.7 Cr
Quarter EPS is Rs. 0.9
Share is trading at P/E of 14.6x TTM EPS

Reliance Retail to acquire controlling stuck in Just dial. Reliance retail to subscribe 2.12cr share of Just dial at Rs.1022.25/share and infuse Rs.2165cr in Just Dial. Just dial already has free cash of Rs.1533cr as such company will have war chest of Rs.3698cr.
Reliance retail will acquire 1.31cr share (15.62%) from VSS Mani (Existing promoter) @ Rs.1020/share for Rs.1332cr. Existing promoter will continue to hold 19.7% in company and Mr, Mani will continue to be MD &CEO
Reliance Retail will make an open offer for 2.17cr share (26%) @ of Rs.1022.25/share for total consideration of 2222.05cr.
The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. Just Dial would expand discovery on its platform and enhance transactions for millions of products and services. These investments will leverage Just Dial’s existing database of ~30.4 million listings and its existing consumer traffic of ~ 129.1 million quarterly unique users