*NELCO LTD.* | *CMP* Rs. 371 | *M Cap* Rs. 847 Cr | *52 W H/L* 411/173
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 55.1 Cr (-15% QoQ, 11.3% YoY) vs QoQ Rs. 64.8 Cr, YoY Rs. 49.5 Cr
EBIDTA came at Rs. 12.1 Cr (-8.7% QoQ, 20.9% YoY) vs QoQ Rs. 13.3 Cr, YoY Rs. 10 Cr
EBITDA Margin came at 22% vs QoQ 20.5%, YoY 20.3%
Adj. PAT came at Rs. 4.4 Cr vs QoQ Rs. 4.5 Cr, YoY Rs. 1.8 Cr
Quarter EPS is Rs. 1.9
Share is trading at P/E of 56.8x TTM EPS

*Shriram Transport Finance*
(Nirmal Bang Securities)

*> Aggressive provisioning and lower incremental stress formation is encouraging*
*> Likely merger with Shriram City Union Finance shall discourage investors from perceiving the co as a pure play proxy on CV financing*

*Outlook: Positive in Short Term*

• Impact of wave 2 was lesser than wave 1. This time, impact was more in rural areas.
• CV industry sold 1.05 lac units in Q1FY22 (many RTOs were closed and so registration for 2nd hand vehicles suffered) against 2.08 lac units sold two years back in Q1FY20.
• Liquidity is at Rs. 17k Cr. NIMs should improve by 10 bps once liquidity is reduced.
• *Merger between the co & SCUF is likely to be announced over the next couple of qtrs.* There is some synergy between both the businesses.
• GNPA came at 8.2% vs QoQ 7.1% (Chola was at 6.8% vs QoQ 4.0%)
• NNPA came at 4.7% vs QoQ 4.2% (Chola was at 3.9% vs QoQ 2.2%)
• Restructured book is at Rs. 343 Cr (0.3%) vs 5.4% in case of Chola. Co however claimed that restructuring could be done for another Rs. 300 Cr (0.3%).
• *Contingent provisions seem healthy at Rs. 2852 Cr (2.4%)* compared to 0.9% for Chola.
• *Collections for the months of April 2021, May 2021 and June 2021 were 92 %, 87% and 94% of the Demand respectively.*
• *Co is aiming to reduce credit cost to 2.0% by Q4FY22 from 2.7% in FY21*
• Co will expand to 5k outlets in rural areas in brick & mortar form as that is a necessity in rural areas.

Share is trading at P/E of 9.4x FY23E EPS & 1.5x FY23 P/ABV

*Finolex Industries Ltd.* | *CMP* Rs. 177 | *M Cap* Rs. 10992 Cr | *52 W H/L* 199/88
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 965.7 Cr (-22.7% QoQ, 71.8% YoY) vs expectation of Rs. 1004.7 Cr, QoQ Rs. 1249.3 Cr, YoY Rs. 562.1 Cr
EBIDTA came at Rs. 209.5 Cr (-48.9% QoQ, 137.4% YoY) vs expectation of Rs. 250.9 Cr, QoQ Rs. 410.1 Cr, YoY Rs. 88.2 Cr
EBITDA Margin came at 21.7% vs expectation of 25%, QoQ 32.8%, YoY 15.7%
Adj. PAT came at Rs. 145.5 Cr vs expectation of Rs. 184.8 Cr, QoQ Rs. 298.8 Cr, YoY Rs. 56.7 Cr
Quarter EPS is Rs. 2.3
Share is trading at P/E of 19.9x FY22E EPS

Dear All,

Nirmal Bang is inviting you to a Zoom webinar.
When: Aug 2, 2021 08:45 AM India
Topic: Morning Market Update

Register in advance for this webinar:
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*PI Industries Ltd.* | *CMP* Rs. 2948 | *M Cap* Rs. 44726 Cr | *52 W H/L* 3310/1680
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Revenue from Operations came at Rs. 1193.8 Cr (-0.3% QoQ, 12.6% YoY) vs expectation of Rs. 1357.9 Cr, QoQ Rs. 1197.1 Cr, YoY Rs. 1060.1 Cr
EBIDTA came at Rs. 248.9 Cr (9.5% QoQ, 8.6% YoY) vs expectation of Rs. 295.3 Cr, QoQ Rs. 227.4 Cr, YoY Rs. 229.2 Cr
EBITDA Margin came at 20.8% vs expectation of 21.7%, QoQ 19%, YoY 21.6%
Adj. PAT came at Rs. 187.2 Cr vs expectation of Rs. 215.6 Cr, QoQ Rs. 179.8 Cr, YoY Rs. 145.5 Cr
Quarter EPS is Rs. 12.3
Share is trading at P/E of 49.9x FY22E EPS

Dear All,

Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 31, 2021 11:30 AM India
Topic: August Month Outlook by Mr Sunil Jain and Retail Research Team

Register in advance for this webinar:
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After registering, you will receive a confirmation email containing information about joining the webinar.

Securities in Ban For Trade Date 02-AUG-2021: F&O Segment.

1 SUNTV

MARKET WIZARD NEWSLETTER ISSUE 21

🎯Fundamental Stocks

▶️ KKCL
▶️ Larsen & Toubro - SPECIAL PICK
▶️ Sanofi India


🎯Technical Stocks

▶️ Honda Power
▶️ Rane Madras
▶️ TVS Elect


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Bulk Deal as on 30-07-21

Coral India Finance
+ 2.05 Lk @ 51.75 Vaibhav Rajendra Doshi

HSCL ( Himadri Speciality Chemical)
+ 21.34 Lk @ 52.43 Kirtan Maneklal Rupareliya (HUF)
- 25 Lk @ 52.5 BC India Investment

Mangalore Chemical & Fertilizer Ltd
- 15.85 Lk @ 82.29 Sageone Investment Llp

Pioneer Embroideries
+ 5 Lk @ 75 Remcom Sales Service Pvt Ltd
- 1.38 Lk @ 73.06 Shreeji Capital & Finance Ltd

Rama Steel Tubes
- 93 K @ 180.35 Madhukar Sheth

Tejas Network
+ 1.56 Crore @ 257.99 Panatone Investment Ltd
- 1.45 Crore @ 258 Cascade Capital Management Mauritius

*Central Depository Services (India) Ltd.* | *CMP* Rs. 1333 | *M Cap* Rs. 13930 Cr | *52 W H/L* 1579/306
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 117.3 Cr (13.8% QoQ, 79.7% YoY) vs expectation of Rs. 111.6 Cr, QoQ Rs. 103.1 Cr, YoY Rs. 65.3 Cr
- Depository Revenue came at Rs. 88.7 Cr vs QoQ Rs. 79.4 Cr and YoY Rs. 52.2 Cr
- Data Entry & Storage Revenue came at Rs. 28.1 Cr vs QoQ 23.2 Cr and YoY Rs. 12.9 Cr
EBIDTA came at Rs. 73.7 Cr (16.3% QoQ, 93.8% YoY) vs expectation of Rs. 75.1 Cr, QoQ Rs. 63.4 Cr, YoY Rs. 38.1 Cr
EBITDA Margin came at 62.9% vs expectation of 67.2%, QoQ 61.5%, YoY 58.3%
Adj. PAT came at Rs. 63.9 Cr vs expectation of Rs. 60.6 Cr, QoQ Rs. 51.7 Cr, YoY Rs. 46.7 Cr
Quarter EPS is Rs. 6.1
Share is trading at P/E of 61.8x FY22E EPS

*IDFC First Bank Ltd.* | *CMP* Rs. 52 | *M Cap* Rs. 32276 Cr | *52 W H/L* 69/26
(Nirmal Bang Retail Research)
*Result is below expectations*
Net Interest Income came at Rs. 2185 Cr vs expectation of Rs. 2053 Cr, YoY Rs. 1626 Cr, QoQ Rs. 1960 Cr
Non Interest Income came at Rs. 849 Cr vs expectation of Rs. 790 Cr, YoY Rs. 485 Cr, QoQ Rs. 841 Cr
PBP came at Rs. 1001 Cr vs expectation of Rs. 991 Cr, YoY Rs. 892 Cr, QoQ Rs. 646 Cr
Provisions came at Rs. 1879 Cr vs expectation of Rs. 730 Cr, YoY Rs. 764 Cr, QoQ Rs. 603 Cr
Adj. PAT came at Rs. -630 Cr vs expectation of Rs. 62 Cr, YoY Rs. 94 Cr, QoQ Rs. 128 Cr
Gross NPA came at Rs. 4667 Cr vs QoQ Rs. 4303 Cr at 4.61% vs QoQ 4.15%
Net NPA came at Rs. 2293 Cr vs QoQ Rs. 1883 Cr at 2.32% vs QoQ 1.86%
The NPA mentioned above includes one infrastructure loans (Mumbai Toll Road account) which became NPA during the quarter with Rs. 854 Cr outstanding, due to the impact on toll collections following COVID-19 second wave. The Bank carries Rs. 154 Cr provision on this account.
Retail GNPA was at 3.9% vs QoQ 4.0%
Corporate (non-infra) GNPA was at 2.9% vs QoQ 4.0%
Infra GNPA was at 15.6% vs QoQ 5.8%
Restructured pool is at 2.0%
Apart from above NPAs, there is a stressed pool of Rs. 1371 Cr (1.3% of AUM) on which PCR of 67% is createdalready.
Contingent provisions are at Rs. 725 Cr (0.6%)
Quarter EPS is Rs. -1
Share is trading at P/E of 21.5x FY23E EPS & 1.8x trailing P/Adj. BV

*Sarda Energy & Minerals Ltd.* | *CMP* Rs. 799 | *M Cap* Rs. 2881 Cr | *52 W H/L* 851/163
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 832.2 Cr (19% QoQ, 139.5% YoY) vs QoQ Rs. 699.2 Cr, YoY Rs. 347.4 Cr
EBIDTA came at Rs. 271.8 Cr (47.4% QoQ, 401.2% YoY) vs QoQ Rs. 184.3 Cr, YoY Rs. 54.2 Cr
EBITDA Margin came at 32.7% vs QoQ 26.4%, YoY 15.6%
Adj. PAT came at Rs. 168.1 Cr vs QoQ Rs. 139.4 Cr, YoY Rs. 35.5 Cr
Quarter EPS is Rs. 46.6
Share is trading at P/E of 5.6x TTM EPS

*🎯IRCTC : STOCK SPLIT PROPOSED: 5:1 RATIO:⏫⏫🎯*j

⏩IRCTC board to meet for stock split- BOARD MEETING ON AUGUST 12TH .

⏩August 12 to recommend the proposal for sub-division of company's equity shares of face value of ₹10 each and matters related thereto. 

⏩IRCTC CMP = RS 2300
⏩TARGET PRICE = RS 2600
⏩BOARD MEETING = AUGUST 12TH

*RECOMMENDATION = STRONG BUY*

*🎯R SYSTEM: IT SECTOR: BUYBACK PROPOSAL: AUGUST 6TH⏫⏫🎯*

⏩R Systems soars 15% as board to consider share buyback proposal.

⏩The board of directors of the company is scheduled to meet on August 06, 2021, to consider the proposal for buyback of equity shares.

⏩CMP PRICE = RS 210
⏩TARGET PRICE = RS 275
⏩BUYBACK PROPOSAL = AUG 6TH
⏩Q1 RESULT = AUGUST 6TH

*RECOMMENDATION: STRONG BUY*

*🎯IOC : Q1 RESULTS: 200.0%⏫⏫🎯*

⏩IOC net profit soars to ₹5,941 crore in Q1.

⏩In the April-June quarter last year, the company had reported net profit of ₹1,911 crore.

⏩Revenue from operations were up at ₹1,55,056 crore.

⏩India’s largest oil refiner earned $6.58 on turning every barrel of crude oil into fuel in the quarter.

⏩IOC CMP = RS 104
⏩TARGET PRICE = RS 130
⏩RECOMMENDATION: STRONG BUY

*🎯TATA MOTOR: AGM : UPDATE ⏫⏫🎯*

⏩Tata Motor to invest Rs 28,900 cr in domestic biz, JLR in FY22: Chandrasekaran.

⏩It is looking to have 25 per cent of its sales coming from EVs in the medium to long term, up from 2 per cent at present, he said while addressing the company's virtual AGM.

⏩Tata Motors is working with Tata Power and we are expanding to at least 25 cities and the goal is to have at least 1,000 charging stations in the coming years."

*🎯NFO RECOMMENDATION🎯*

👉NIPPON INDIA FLEXICAP FUND
👉IDFC US EQUITY FUND GROWTH
👉UTI FOCUSED EQUITY FUND

*RECOMMENDATION: STRONG BUY*

*🎯SUN PHARMA: Q1 RESULT : RS 1450 CR⏫⏫🎯*

⏩Q1 results: Sun Pharma in the black, posts Rs 1,444-crore profit.

⏩In the same period a year ago, the company had posted a net loss of Rs 1,655 crore owing to a drop in revenue and exceptional expenses.

⏩Its stock gained 10 per cent and closed at Rs 774 on the BSE on Friday.

*🎯ROLES RINGS: IPO : OVERSUBSCRIBED BY 130.0 TIMES⏫⏫🎯*

⏩Rolex Rings IPO subscribed *130x* on last day on institutional, HNI interest.

⏩The Rs 731-crore IPO generated bids worth Rs 66,744 crore.

*🎯STOCKS NEWS🎯*

⏩ *Kansai Nerolac Paints* Q1 net rises over two-folds to Rs 111.38 crore.

⏩ *State-owned BHEL first* quarter loss narrows to Rs 448 crore.

⏩ *Britannia consolidated* net profit drops 29% to Rs 387 crore in Q1.

⏩ *Bandhan Bank Q1* net profit falls 32% to Rs 373 cr, asset quality weakens.

⏩ *Ashok Leyland* advances 10%, nears 52-week high on drawing up EV road map

⏩ *SRF rallies 8%* on strong Q1 performance; market-cap zooms past Rs 50,000 cr.

⏩ *Tech Mahindra* surges over 8%, hits new high as Q1 profit beats estimates.

*🎯DEVYANI INTERNATIONAL: IPO UPDATE: RS 1000 CRORE⏫⏫🎯*

⏩KFC, Pizza Hut brand operator eyes Rs 10,823 cr valuation in IPO.

⏩The Ravi Kant Jaipuria-promoted firm has set a price band of Rs 86-90 per share. 

⏩ Its IPO opens on Wednesday and closes on Friday (August 6).