*Aurobindo Pharma Ltd.* | *CMP* Rs. 826 | *M Cap* Rs. 48381 Cr | *52 W H/L* 1064/738
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 5702 Cr (-5% QoQ, -3.8% YoY) vs expectation of Rs. 6142 Cr, QoQ Rs. 6001.5 Cr, YoY Rs. 5924.8 Cr
EBIDTA came at Rs. 1209.4 Cr (-5.1% QoQ, -3.8% YoY) vs expectation of Rs. 1314.9 Cr, QoQ Rs. 1274.7 Cr, YoY Rs. 1257.4 Cr
EBITDA Margin came at 21.2% vs expectation of 21.4%, QoQ 21.2%, YoY 21.2%
Adj. PAT came at Rs. 770 Cr vs expectation of Rs. 816.1 Cr, QoQ Rs. 800.9 Cr, YoY Rs. 780.6 Cr
Quarter EPS is Rs. 13.1
Share is trading at P/E of 13.7x FY22E EPS
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 5702 Cr (-5% QoQ, -3.8% YoY) vs expectation of Rs. 6142 Cr, QoQ Rs. 6001.5 Cr, YoY Rs. 5924.8 Cr
EBIDTA came at Rs. 1209.4 Cr (-5.1% QoQ, -3.8% YoY) vs expectation of Rs. 1314.9 Cr, QoQ Rs. 1274.7 Cr, YoY Rs. 1257.4 Cr
EBITDA Margin came at 21.2% vs expectation of 21.4%, QoQ 21.2%, YoY 21.2%
Adj. PAT came at Rs. 770 Cr vs expectation of Rs. 816.1 Cr, QoQ Rs. 800.9 Cr, YoY Rs. 780.6 Cr
Quarter EPS is Rs. 13.1
Share is trading at P/E of 13.7x FY22E EPS
*Vesuvius India Ltd.* | *CMP* Rs. 1255 | *M Cap* Rs. 2547 Cr | *52 W H/L* 1364/847
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 272.1 Cr (9.5% QoQ, 95.5% YoY) vs QoQ Rs. 248.5 Cr, YoY Rs. 139.2 Cr
EBIDTA came at Rs. 27.8 Cr (17.8% QoQ, 236.1% YoY) vs QoQ Rs. 23.6 Cr, YoY Rs. 8.3 Cr
EBITDA Margin came at 10.2% vs QoQ 9.5%, YoY 5.9%
Adj. PAT came at Rs. 19.4 Cr vs QoQ Rs. 16.1 Cr, YoY Rs. 5.9 Cr
Quarter EPS is Rs. 9.5
Share is trading at P/E of 39.8x TTM EPS
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 272.1 Cr (9.5% QoQ, 95.5% YoY) vs QoQ Rs. 248.5 Cr, YoY Rs. 139.2 Cr
EBIDTA came at Rs. 27.8 Cr (17.8% QoQ, 236.1% YoY) vs QoQ Rs. 23.6 Cr, YoY Rs. 8.3 Cr
EBITDA Margin came at 10.2% vs QoQ 9.5%, YoY 5.9%
Adj. PAT came at Rs. 19.4 Cr vs QoQ Rs. 16.1 Cr, YoY Rs. 5.9 Cr
Quarter EPS is Rs. 9.5
Share is trading at P/E of 39.8x TTM EPS
*Sandur Manganese & Iron Ores Ltd.* | *CMP* Rs. 1884 | *M Cap* Rs. 1696 Cr | *52 W H/L* 2234/552
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 475.1 Cr (32.8% QoQ, 269.5% YoY) vs QoQ Rs. 357.7 Cr, YoY Rs. 128.6 Cr
EBIDTA came at Rs. 254.1 Cr (88.7% QoQ, 583.7% YoY) vs QoQ Rs. 134.7 Cr, YoY Rs. 37.2 Cr
EBITDA Margin came at 53.5% vs QoQ 37.7%, YoY 28.9%
Adj. PAT came at Rs. 148.8 Cr vs QoQ Rs. 70.9 Cr, YoY Rs. 23.3 Cr
Quarter EPS is Rs. 165.3
Share is trading at EV/EBITDA of 4.01x FY23E EBITDA
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 475.1 Cr (32.8% QoQ, 269.5% YoY) vs QoQ Rs. 357.7 Cr, YoY Rs. 128.6 Cr
EBIDTA came at Rs. 254.1 Cr (88.7% QoQ, 583.7% YoY) vs QoQ Rs. 134.7 Cr, YoY Rs. 37.2 Cr
EBITDA Margin came at 53.5% vs QoQ 37.7%, YoY 28.9%
Adj. PAT came at Rs. 148.8 Cr vs QoQ Rs. 70.9 Cr, YoY Rs. 23.3 Cr
Quarter EPS is Rs. 165.3
Share is trading at EV/EBITDA of 4.01x FY23E EBITDA
*Mishra Dhatu Nigam Ltd.* | *CMP* Rs. 189 | *M Cap* Rs. 3535 Cr | *52 W H/L* 236/173
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 114.1 Cr (-67% QoQ, 0.5% YoY) vs QoQ Rs. 345.9 Cr, YoY Rs. 113.5 Cr
EBIDTA came at Rs. 25.5 Cr (-75.3% QoQ, 336.9% YoY) vs QoQ Rs. 103.1 Cr, YoY Rs. 5.8 Cr
EBITDA Margin came at 22.4% vs QoQ 29.8%, YoY 5.1%
Adj. PAT came at Rs. 18.7 Cr vs QoQ Rs. 74.7 Cr, YoY Rs. -0.9 Cr
Quarter EPS is Rs. 1
Share is trading at P/E of 19x TTM EPS
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 114.1 Cr (-67% QoQ, 0.5% YoY) vs QoQ Rs. 345.9 Cr, YoY Rs. 113.5 Cr
EBIDTA came at Rs. 25.5 Cr (-75.3% QoQ, 336.9% YoY) vs QoQ Rs. 103.1 Cr, YoY Rs. 5.8 Cr
EBITDA Margin came at 22.4% vs QoQ 29.8%, YoY 5.1%
Adj. PAT came at Rs. 18.7 Cr vs QoQ Rs. 74.7 Cr, YoY Rs. -0.9 Cr
Quarter EPS is Rs. 1
Share is trading at P/E of 19x TTM EPS
*Tata Steel Ltd.* | *CMP* Rs. 1435 | *M Cap* Rs. 172546 Cr | *52 W H/L* 1482/343
(Nirmal Bang Retail Research)
Volume came at 7.11 mnt vs QoQ 7.83 mnt, YoY 5.34 mnt
*Result broadly in-line with expectation*
*Indian Standalone operation result came marginally ahead of expectation and European result came lower than expectation*
Revenue from Operations came at Rs. 53371.8 Cr (6.8% QoQ, 119.7% YoY) vs expectation of Rs. 52497.4 Cr, QoQ Rs. 49977.4 Cr, YoY Rs. 24288.5 Cr
EBIDTA came at Rs. 16110.6 Cr (13.6% QoQ, 3087% YoY) vs expectation of Rs. 16219.1 Cr, QoQ Rs. 14184.1 Cr, YoY Rs. 505.5 Cr
EBITDA/T came at Rs 22659/T vs QoQ Rs 18115/T, YoY Rs 1025/T
EBITDA Margin came at 30.2% vs expectation of 30.7%, QoQ 28.4%, YoY 2.1%
Adj. PAT came at Rs. 8907 Cr vs expectation of Rs. 8996.7 Cr, QoQ Rs. 6644.2 Cr, YoY Rs. -4416.6 Cr
Quarter EPS is Rs. 74.1
Share is trading at EV/EBITDA of 6.2x FY23E EBITDA
*Tata Steel Europe*
Volume came 2.33 mnt vs QoQ 2.47 mnt, YoY 1.98 mnt
Reported EBITDA/T came at Rs 6590/T ($88/T Vs Exp of $150) vs QoQ Rs 4841/T, YoY Rs -3155/T
*Net Debt declined to Rs 73979 Cr as compared to Rs 75389 last quarter*
(Nirmal Bang Retail Research)
Volume came at 7.11 mnt vs QoQ 7.83 mnt, YoY 5.34 mnt
*Result broadly in-line with expectation*
*Indian Standalone operation result came marginally ahead of expectation and European result came lower than expectation*
Revenue from Operations came at Rs. 53371.8 Cr (6.8% QoQ, 119.7% YoY) vs expectation of Rs. 52497.4 Cr, QoQ Rs. 49977.4 Cr, YoY Rs. 24288.5 Cr
EBIDTA came at Rs. 16110.6 Cr (13.6% QoQ, 3087% YoY) vs expectation of Rs. 16219.1 Cr, QoQ Rs. 14184.1 Cr, YoY Rs. 505.5 Cr
EBITDA/T came at Rs 22659/T vs QoQ Rs 18115/T, YoY Rs 1025/T
EBITDA Margin came at 30.2% vs expectation of 30.7%, QoQ 28.4%, YoY 2.1%
Adj. PAT came at Rs. 8907 Cr vs expectation of Rs. 8996.7 Cr, QoQ Rs. 6644.2 Cr, YoY Rs. -4416.6 Cr
Quarter EPS is Rs. 74.1
Share is trading at EV/EBITDA of 6.2x FY23E EBITDA
*Tata Steel Europe*
Volume came 2.33 mnt vs QoQ 2.47 mnt, YoY 1.98 mnt
Reported EBITDA/T came at Rs 6590/T ($88/T Vs Exp of $150) vs QoQ Rs 4841/T, YoY Rs -3155/T
*Net Debt declined to Rs 73979 Cr as compared to Rs 75389 last quarter*
Chairman and managing director Sanjiv Puri said ITC will be investing $2 billion in the medium term as part of its strategy reset.
https://www.cnbctv18.com/retail/itc-to-invest-2-billion-in-medium-term-to-ramp-up-capacity-10350861.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
https://www.cnbctv18.com/retail/itc-to-invest-2-billion-in-medium-term-to-ramp-up-capacity-10350861.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
cnbctv18.com
ITC to invest $2 billion in medium term to ramp up capacity
Chairman and managing director Sanjiv Puri said ITC will be investing $2 billion in the medium term as part of its strategy reset.
ET Markets:India’s largest MF raises red flag over stocks, IPOs http://economictimes.indiatimes.com/markets/stocks/news/why-indias-largest-fund-house-just-raised-red-flag-over-stocks-ipos/articleshow/85267645.cms
Sent from Economic Times Mobile App.(Download Now):
http://ecoti.in/etmtks
Sent from Economic Times Mobile App.(Download Now):
http://ecoti.in/etmtks
The Economic Times
Why India’s largest fund house just raised red flag over stocks & IPOs
The asset manager, which manages assets worth more than Rs 5 lakh crore, is concerned over the prospects of returns from the Indian equities going ahead, because of the euphoria on display in the primary market and among retail investors.
*Hero MotoCorp Ltd.* | *CMP* Rs. 2783 | *M Cap* Rs. 55602 Cr | *52 W H/L* 3616/2627
(Nirmal Bang Retail Research)
No. of Vehicles Sold 1024489 vs QoQ 1568313,YoY 563426
*Result below Expectation*
Revenue from Operations came at Rs. 5487.1 Cr (-36.8% QoQ, 84.7% YoY) vs expectation of Rs. 5847.4 Cr, QoQ Rs. 8686 Cr, YoY Rs. 2971.5 Cr
EBIDTA came at Rs. 514.8 Cr (-57.5% QoQ, 376.5% YoY) vs expectation of Rs. 616.6 Cr, QoQ Rs. 1211.2 Cr, YoY Rs. 108.1 Cr
EBITDA Margin came at 9.4% vs expectation of 10.5%, QoQ 13.9%, YoY 3.6%
Adj. PAT came at Rs. 365.4 Cr vs expectation of Rs. 463.7 Cr, QoQ Rs. 865 Cr, YoY Rs. 61.3 Cr
Quarter EPS is Rs. 18.3
Share is trading at P/E of 15.4x FY22E EPS
(Nirmal Bang Retail Research)
No. of Vehicles Sold 1024489 vs QoQ 1568313,YoY 563426
*Result below Expectation*
Revenue from Operations came at Rs. 5487.1 Cr (-36.8% QoQ, 84.7% YoY) vs expectation of Rs. 5847.4 Cr, QoQ Rs. 8686 Cr, YoY Rs. 2971.5 Cr
EBIDTA came at Rs. 514.8 Cr (-57.5% QoQ, 376.5% YoY) vs expectation of Rs. 616.6 Cr, QoQ Rs. 1211.2 Cr, YoY Rs. 108.1 Cr
EBITDA Margin came at 9.4% vs expectation of 10.5%, QoQ 13.9%, YoY 3.6%
Adj. PAT came at Rs. 365.4 Cr vs expectation of Rs. 463.7 Cr, QoQ Rs. 865 Cr, YoY Rs. 61.3 Cr
Quarter EPS is Rs. 18.3
Share is trading at P/E of 15.4x FY22E EPS
*Eicher Motors Ltd.* | *CMP* Rs. 2615 | *M Cap* Rs. 71491 Cr | *52 W H/L* 3037/2007
(Nirmal Bang Retail Research)
No. of Vehicles Sold 129446 vs QoQ 222771,YoY 59398
*Result Inline with Expectation* *Vinod K Dasari steps down as Chief Executive Officer of Royal Enfield and Executive Director with an intention to dedicate time and energy to pursue his personal passion and ambition in affordable healthcare. This may have sentimental negative impact*
Revenue from Operations came at Rs. 1974.3 Cr (-32.9% QoQ, 141.3% YoY) vs expectation of Rs. 1833.5 Cr, QoQ Rs. 2940.3 Cr, YoY Rs. 818.2 Cr
EBIDTA came at Rs. 363 Cr (-42.8% QoQ, 9477% YoY) vs expectation of Rs. 360.8 Cr, QoQ Rs. 634.4 Cr, YoY Rs. 3.8 Cr
EBITDA Margin came at 18.4% vs expectation of 19.7%, QoQ 21.6%, YoY 0.5%
Adj. PAT came at Rs. 237.1 Cr vs expectation of Rs. 231.3 Cr, QoQ Rs. 526.1 Cr, YoY Rs. -55.2 Cr
Quarter EPS is Rs. 8.7
Share is trading at P/E of 31.6x FY22E EPS
(Nirmal Bang Retail Research)
No. of Vehicles Sold 129446 vs QoQ 222771,YoY 59398
*Result Inline with Expectation* *Vinod K Dasari steps down as Chief Executive Officer of Royal Enfield and Executive Director with an intention to dedicate time and energy to pursue his personal passion and ambition in affordable healthcare. This may have sentimental negative impact*
Revenue from Operations came at Rs. 1974.3 Cr (-32.9% QoQ, 141.3% YoY) vs expectation of Rs. 1833.5 Cr, QoQ Rs. 2940.3 Cr, YoY Rs. 818.2 Cr
EBIDTA came at Rs. 363 Cr (-42.8% QoQ, 9477% YoY) vs expectation of Rs. 360.8 Cr, QoQ Rs. 634.4 Cr, YoY Rs. 3.8 Cr
EBITDA Margin came at 18.4% vs expectation of 19.7%, QoQ 21.6%, YoY 0.5%
Adj. PAT came at Rs. 237.1 Cr vs expectation of Rs. 231.3 Cr, QoQ Rs. 526.1 Cr, YoY Rs. -55.2 Cr
Quarter EPS is Rs. 8.7
Share is trading at P/E of 31.6x FY22E EPS
*Ashok Leyland Ltd.* | *CMP* Rs. 134 | *M Cap* Rs. 39204 Cr | *52 W H/L* 143/49
(Nirmal Bang Retail Research)
No. of Vehicles Sold 17390 vs QoQ 44060,YoY 3814
*Result below Expectation*
Revenue from Operations came at Rs. 2951 Cr (-57.8% QoQ, 353.4% YoY) vs expectation of Rs. 2824.8 Cr, QoQ Rs. 7000.5 Cr, YoY Rs. 650.9 Cr
EBIDTA came at Rs. -143.1 Cr (-126.8% QoQ, -57.1% YoY) vs expectation of Rs. -18.2 Cr, QoQ Rs. 534.2 Cr, YoY Rs. -333.2 Cr
EBITDA Margin came at -4.8% vs expectation of -0.6%, QoQ 7.6%, YoY -51.2%
Adj. PAT came at Rs. -280.6 Cr vs expectation of Rs. -212.9 Cr, QoQ Rs. 203.8 Cr, YoY Rs. -387.1 Cr
Quarter EPS is Rs. -1
Share is trading at P/E of 40.7x FY22E EPS
(Nirmal Bang Retail Research)
No. of Vehicles Sold 17390 vs QoQ 44060,YoY 3814
*Result below Expectation*
Revenue from Operations came at Rs. 2951 Cr (-57.8% QoQ, 353.4% YoY) vs expectation of Rs. 2824.8 Cr, QoQ Rs. 7000.5 Cr, YoY Rs. 650.9 Cr
EBIDTA came at Rs. -143.1 Cr (-126.8% QoQ, -57.1% YoY) vs expectation of Rs. -18.2 Cr, QoQ Rs. 534.2 Cr, YoY Rs. -333.2 Cr
EBITDA Margin came at -4.8% vs expectation of -0.6%, QoQ 7.6%, YoY -51.2%
Adj. PAT came at Rs. -280.6 Cr vs expectation of Rs. -212.9 Cr, QoQ Rs. 203.8 Cr, YoY Rs. -387.1 Cr
Quarter EPS is Rs. -1
Share is trading at P/E of 40.7x FY22E EPS
Bulk Deal as on 12-08-21
Albert David
+ 49 K @ 635.32 Tripta Rani
Globus Spirits Ltd
+ 1.75 LK @ 862.05 Long Term Equity Fund
+ 18 K @ 862.05 Ram Bagh Facility Services LLP
- 3.37 Lk @ 862.05 International Asset Reconstruction Co Pvt Ltd
Gufic Biosciences
+ 5 Lk @ 205.89 Financial Investor Trust A/C Grandeur Peak Global Opportunities Fund
IndTerrain
+ 2.10 Lk @ 41.84 M/s Prarthana Enterprises
International Conveyers
+ 4 Lk @ 61.09 Vivek Mundra
- 4.31 Lk @ 61.17 Madhusudan Kela
Jbf Industries
+ 10 Lk @ 30.65 Gladiator Vyapaar Pvt Ltd
- 10 Lk @ 30.65 ICM Finance Pvt Ltd
JTL Infra
- 75 K & 675 Jagan Industries Pvt Ltd
LKP Finance
+ 3.85 Lk @ 129.5 Vijay Kundanmal Choraria
- 2 Lk @ 129.5 India Max Investment Fund Ltd
- 1.79 Lk @ 129.5 Team India Managers Ltd
Stovec Ind
- 16 K @ 2601.07 Plutus Wealth Management LLP
Vishal
+ 5.11 Lk @ 112.98 Chiripal SavitriDevi V
Albert David
+ 49 K @ 635.32 Tripta Rani
Globus Spirits Ltd
+ 1.75 LK @ 862.05 Long Term Equity Fund
+ 18 K @ 862.05 Ram Bagh Facility Services LLP
- 3.37 Lk @ 862.05 International Asset Reconstruction Co Pvt Ltd
Gufic Biosciences
+ 5 Lk @ 205.89 Financial Investor Trust A/C Grandeur Peak Global Opportunities Fund
IndTerrain
+ 2.10 Lk @ 41.84 M/s Prarthana Enterprises
International Conveyers
+ 4 Lk @ 61.09 Vivek Mundra
- 4.31 Lk @ 61.17 Madhusudan Kela
Jbf Industries
+ 10 Lk @ 30.65 Gladiator Vyapaar Pvt Ltd
- 10 Lk @ 30.65 ICM Finance Pvt Ltd
JTL Infra
- 75 K & 675 Jagan Industries Pvt Ltd
LKP Finance
+ 3.85 Lk @ 129.5 Vijay Kundanmal Choraria
- 2 Lk @ 129.5 India Max Investment Fund Ltd
- 1.79 Lk @ 129.5 Team India Managers Ltd
Stovec Ind
- 16 K @ 2601.07 Plutus Wealth Management LLP
Vishal
+ 5.11 Lk @ 112.98 Chiripal SavitriDevi V
Trading Tweaks
Ex-Date AGM: Suven Pharmaceuticals, Fine Organic Industries, Indo Rama Synthetics (India)
Ex-Date Final Dividend: Fine Organic Industries, Suven Pharmaceuticals
Ex-Date Special Dividend: Fine Organic Industries
Ex-Date Interim Dividend: Pitti Engineering, REC
Ex-Date Dividend: RPG Life Sciences, Rubfila International
Record Date Final Dividend: Karda Constructions
Record Date Interim Dividend: NACL Industries
Record Date Stock Split: Karda Constructions
Record Date Bonus Issue: Karda Constructions
Price Band Revised From 10% To 5%: NELCO
Move Out Of Short-Term ASM Framework: Vidhi Specialty Food Ingredients, Emami Paper Mills, Gravita India, Welspun India
Ex-Date AGM: Suven Pharmaceuticals, Fine Organic Industries, Indo Rama Synthetics (India)
Ex-Date Final Dividend: Fine Organic Industries, Suven Pharmaceuticals
Ex-Date Special Dividend: Fine Organic Industries
Ex-Date Interim Dividend: Pitti Engineering, REC
Ex-Date Dividend: RPG Life Sciences, Rubfila International
Record Date Final Dividend: Karda Constructions
Record Date Interim Dividend: NACL Industries
Record Date Stock Split: Karda Constructions
Record Date Bonus Issue: Karda Constructions
Price Band Revised From 10% To 5%: NELCO
Move Out Of Short-Term ASM Framework: Vidhi Specialty Food Ingredients, Emami Paper Mills, Gravita India, Welspun India
Money Market Update
The rupee ended at 74.25 against the U.S. dollar on Thursday as compared to Wednesday's closing of 74.44.
The rupee ended at 74.25 against the U.S. dollar on Thursday as compared to Wednesday's closing of 74.44.
Insider Trades
Adani Green Energy: Promoter Infinite Trade and Investments bought 38.25 lakh shares between August 9-11.
Dixon Technologies (India): Promoter Geeta Vaswani sold 1,000 shares between August 9-10.
Grindwell Norton: Promoter KM Narang sold 4,124 shares on August 11.
Jindal Stainless (Hisar): Promoter JSL Overseas bought 2.77 lakh shares on August 11.
JTL Infra: Promoter Jagan Industries sold 75,000 shares on August 11.
KEI Industries: Promoter Anil Gupta sold 1.37 lakh shares between August 10-11.
Karda Constructions: Promoter Karamchand Karda sold 5.25 lakh shares on August 11.
Mold-Tek Packaging: Promoters (Venkateswara Pattabhi, Adivishnu Mythri and Golukonda Satyavati) sold 2.98 lakh shares on August 6.
SVP Global Ventures: Promoters (Prafulla Gattani and Shubhankar Gattani) sold 1.04 lakh shares on August 9.
Adani Green Energy: Promoter Infinite Trade and Investments bought 38.25 lakh shares between August 9-11.
Dixon Technologies (India): Promoter Geeta Vaswani sold 1,000 shares between August 9-10.
Grindwell Norton: Promoter KM Narang sold 4,124 shares on August 11.
Jindal Stainless (Hisar): Promoter JSL Overseas bought 2.77 lakh shares on August 11.
JTL Infra: Promoter Jagan Industries sold 75,000 shares on August 11.
KEI Industries: Promoter Anil Gupta sold 1.37 lakh shares between August 10-11.
Karda Constructions: Promoter Karamchand Karda sold 5.25 lakh shares on August 11.
Mold-Tek Packaging: Promoters (Venkateswara Pattabhi, Adivishnu Mythri and Golukonda Satyavati) sold 2.98 lakh shares on August 6.
SVP Global Ventures: Promoters (Prafulla Gattani and Shubhankar Gattani) sold 1.04 lakh shares on August 9.
Pledge Share Details
Emami: Promoters (Sneha Enclave and Suraj Finvest) revoked pledge of 9.61 lakh shares between August 10-11
Emami: Promoters (Sneha Enclave and Suraj Finvest) revoked pledge of 9.61 lakh shares between August 10-11
World Markets
Dow + 15
Nasdaq + 51
Dax + 111
Nikkei - 20
Hangseng - 255
Sgxnifty - 13 (16352)
Brent Crude 71
Dow Fut + 2
Dollar Index 92.99
Dow + 15
Nasdaq + 51
Dax + 111
Nikkei - 20
Hangseng - 255
Sgxnifty - 13 (16352)
Brent Crude 71
Dow Fut + 2
Dollar Index 92.99
Stocks To Watch
Coal India: Plans to increase prices of the fuel sold through long-term contracts. The company is in talks with stakeholders, including the government, and all are on board with the plan, considering costs have risen, Chairman Pramod Agrawal said. Costs are rising due to higher diesel prices and the company will start making provisions for a workers’ wage increase from the quarter that began in July. The company saw 30% premiums over notified prices in e-auction sales. Premiums could rise in coming months due to huge demand for coal and the surge in international prices, Agrawal added. Expects production of about 640 million tons versus target of 670 million tons in the current fiscal year ending March. Shipments seen at about 700 million tons versus 740 million tons target
Tata Power: Tata Power Solar Systems, a wholly owned subsidiary of the company, has bagged an order worth Rs 386 crore. The subsidiary will construct 50MWp Solar PV Plant with 50MWh Battery Energy Storage System project at Phyang village in Leh, Ladakh. The commercial operation date for this project is set for March 2023. With this project, the order pipeline of Tata Power Solar now stands at approximate order value of Rs 12,414 crore.
Future Group stocks: Future Coupons Pvt. has filed a fresh petition in Supreme Court challenging a high court ruling that ordered a complete halt to selling its assets to Reliance Industries Ltd. The firm has challenged the high court’s March 18 order to enforce a Singapore tribunal’s halt to the sale. The Supreme Court has not allotted a date for hearing the new case as yet, according to a Bloomberg report.
SRF: Gujarat Pollution Control Board has issued directions to suspend operations in P2 and two other allied plants in Dahej Chemicals Complex. The company sees no material effect on operations from GPCB directions.
Earnings: Oil and Natural Gas Corporation, Grasim Industries, Apollo Hospitals Enterprise, Indian Railway Finance Corporation, Indraprastha Gas, Star Cement, AIA Engineering, Petronet LNG, Akzo Nobel India, Bharat Dynamics, Mindspace Business Parks REIT, Borosil, Burger King India, Fine Organic Industries, Tube Investments of India, Forbes & Company, Glenmark Pharmaceuticals, Astra Microwave Products, Bajaj Hindusthan Sugar, Bayer Cropscience, Ingersoll-Rand (India), Jammu & Kashmir Bank, KRBL, Kaveri Seed Company, MOIL, Mahanagar Telephone Nigam LTD., NBCC (India), NCL Industries, NHPC, Nirlon, Seamec, Sun Tv Network, Tide Water Oil (India), Westlife Development
Coal India: Plans to increase prices of the fuel sold through long-term contracts. The company is in talks with stakeholders, including the government, and all are on board with the plan, considering costs have risen, Chairman Pramod Agrawal said. Costs are rising due to higher diesel prices and the company will start making provisions for a workers’ wage increase from the quarter that began in July. The company saw 30% premiums over notified prices in e-auction sales. Premiums could rise in coming months due to huge demand for coal and the surge in international prices, Agrawal added. Expects production of about 640 million tons versus target of 670 million tons in the current fiscal year ending March. Shipments seen at about 700 million tons versus 740 million tons target
Tata Power: Tata Power Solar Systems, a wholly owned subsidiary of the company, has bagged an order worth Rs 386 crore. The subsidiary will construct 50MWp Solar PV Plant with 50MWh Battery Energy Storage System project at Phyang village in Leh, Ladakh. The commercial operation date for this project is set for March 2023. With this project, the order pipeline of Tata Power Solar now stands at approximate order value of Rs 12,414 crore.
Future Group stocks: Future Coupons Pvt. has filed a fresh petition in Supreme Court challenging a high court ruling that ordered a complete halt to selling its assets to Reliance Industries Ltd. The firm has challenged the high court’s March 18 order to enforce a Singapore tribunal’s halt to the sale. The Supreme Court has not allotted a date for hearing the new case as yet, according to a Bloomberg report.
SRF: Gujarat Pollution Control Board has issued directions to suspend operations in P2 and two other allied plants in Dahej Chemicals Complex. The company sees no material effect on operations from GPCB directions.
Earnings: Oil and Natural Gas Corporation, Grasim Industries, Apollo Hospitals Enterprise, Indian Railway Finance Corporation, Indraprastha Gas, Star Cement, AIA Engineering, Petronet LNG, Akzo Nobel India, Bharat Dynamics, Mindspace Business Parks REIT, Borosil, Burger King India, Fine Organic Industries, Tube Investments of India, Forbes & Company, Glenmark Pharmaceuticals, Astra Microwave Products, Bajaj Hindusthan Sugar, Bayer Cropscience, Ingersoll-Rand (India), Jammu & Kashmir Bank, KRBL, Kaveri Seed Company, MOIL, Mahanagar Telephone Nigam LTD., NBCC (India), NCL Industries, NHPC, Nirlon, Seamec, Sun Tv Network, Tide Water Oil (India), Westlife Development
Bharat Forge Q1FY22 Con-call Update
(Nirmal Bang Retail Research)
*Outlook: Positive*
Volumes for Q1FY22 are at 53512 tons vs 55837 tons QoQ (-4.2%) and 17840 tons YoY (199.9% growth)
• Domestic revenue grew by 186.7 % YoY from Rs. 154.1 Cr to Rs. 441.8 Cr but degrew by 21.8% sequentially due to lockdown in various states
• Total Revenues grew by 4.9% to Rs 1371.8 Cr on back of exports growth of 25.3% to Rs 915.6 Cr
• The company had an increase of 300 bps in EBITDA margin due to favourable product mix despite cost pressure
• The outlook for FY22 continues to remain strong, albeit on a low base of FY21
• The company completed the acquisition of Sanghvi Forgings at a cost of Rs 77.06 Cr which will expand product portfolio to address significant opportunities in the Indian Industrial space over the medium term which will be consolidated from Q2
• The domestic industrial business is expected to grow in the segments of renewable energy like wind and hydro energy and other allied sectors like mining and metals sectors. All sectors barring the Defence space were affected in Q1 FY22 because of the Covid lockdown
• The Industrial international business revenues have started to recover primarily driven by the Oil& Gas space
• The company has an inflow of order in the Aero space business and plans to expand from $5 million to around $20 million in the next 2 years with capacities being set up
• In the railway segment, has an order book from Indian railways as well as international orders
• The MHCV segment production was down 52% as compared to the Jan - Mar 21 period while the PV production decline was around 24%
• The long-term debt on a standalone basis is at Rs. 2099 Cr, working capital at Rs. 1699.8 Cr and Cash is at Rs. 2714.8 Cr
• The company is planning on building one or two megasites for the e mobility and defense segments
• The company plans to make e-mobility a big part of revenues in India as well its international operations
• The company’s order by the government for Aluminium cylinders is to be completed by October’21 to be fully completed by Q3FY22
• The AI forging facility in North Carolina coming online towards the end of CY21 with revenues expected to be $8-10 million in FY22 which will further ramp up in FY23 and will be at full capacity utilization by FY24
• With a big chunk of Capex investment towards Al forgings completed, the focus over the coming years will turn towards sustaining the current level of performance and generating FCF.
• The capex for FY22 is to be Rs. 200-250 Cr and on a consolidated capex was done in US around $75 million
• Cost reduction is done in the quarter and will be extended to the next quarter
Share is trading at P/E of 30x FY23EPS
(Nirmal Bang Retail Research)
*Outlook: Positive*
Volumes for Q1FY22 are at 53512 tons vs 55837 tons QoQ (-4.2%) and 17840 tons YoY (199.9% growth)
• Domestic revenue grew by 186.7 % YoY from Rs. 154.1 Cr to Rs. 441.8 Cr but degrew by 21.8% sequentially due to lockdown in various states
• Total Revenues grew by 4.9% to Rs 1371.8 Cr on back of exports growth of 25.3% to Rs 915.6 Cr
• The company had an increase of 300 bps in EBITDA margin due to favourable product mix despite cost pressure
• The outlook for FY22 continues to remain strong, albeit on a low base of FY21
• The company completed the acquisition of Sanghvi Forgings at a cost of Rs 77.06 Cr which will expand product portfolio to address significant opportunities in the Indian Industrial space over the medium term which will be consolidated from Q2
• The domestic industrial business is expected to grow in the segments of renewable energy like wind and hydro energy and other allied sectors like mining and metals sectors. All sectors barring the Defence space were affected in Q1 FY22 because of the Covid lockdown
• The Industrial international business revenues have started to recover primarily driven by the Oil& Gas space
• The company has an inflow of order in the Aero space business and plans to expand from $5 million to around $20 million in the next 2 years with capacities being set up
• In the railway segment, has an order book from Indian railways as well as international orders
• The MHCV segment production was down 52% as compared to the Jan - Mar 21 period while the PV production decline was around 24%
• The long-term debt on a standalone basis is at Rs. 2099 Cr, working capital at Rs. 1699.8 Cr and Cash is at Rs. 2714.8 Cr
• The company is planning on building one or two megasites for the e mobility and defense segments
• The company plans to make e-mobility a big part of revenues in India as well its international operations
• The company’s order by the government for Aluminium cylinders is to be completed by October’21 to be fully completed by Q3FY22
• The AI forging facility in North Carolina coming online towards the end of CY21 with revenues expected to be $8-10 million in FY22 which will further ramp up in FY23 and will be at full capacity utilization by FY24
• With a big chunk of Capex investment towards Al forgings completed, the focus over the coming years will turn towards sustaining the current level of performance and generating FCF.
• The capex for FY22 is to be Rs. 200-250 Cr and on a consolidated capex was done in US around $75 million
• Cost reduction is done in the quarter and will be extended to the next quarter
Share is trading at P/E of 30x FY23EPS
*Technocraft Industries (India) Ltd.* | *CMP* Rs. 724 | *M Cap* Rs. 1771 Cr | *52 W H/L* 745/215
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 405.1 Cr (5.3% QoQ, 47.5% YoY) vs QoQ Rs. 384.8 Cr, YoY Rs. 274.6 Cr
EBIDTA came at Rs. 98 Cr (41.9% QoQ, 82.4% YoY) vs QoQ Rs. 69.1 Cr, YoY Rs. 53.8 Cr
EBITDA Margin came at 24.2% vs QoQ 18%, YoY 19.6%
Adj. PAT came at Rs. 70 Cr vs QoQ Rs. 31.5 Cr, YoY Rs. 30.7 Cr
Quarter EPS is Rs. 28.6
Share is trading at P/E of 11.2x TTM EPS
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 405.1 Cr (5.3% QoQ, 47.5% YoY) vs QoQ Rs. 384.8 Cr, YoY Rs. 274.6 Cr
EBIDTA came at Rs. 98 Cr (41.9% QoQ, 82.4% YoY) vs QoQ Rs. 69.1 Cr, YoY Rs. 53.8 Cr
EBITDA Margin came at 24.2% vs QoQ 18%, YoY 19.6%
Adj. PAT came at Rs. 70 Cr vs QoQ Rs. 31.5 Cr, YoY Rs. 30.7 Cr
Quarter EPS is Rs. 28.6
Share is trading at P/E of 11.2x TTM EPS
*SANGHI INDUSTRIES LTD.* | *CMP* Rs. 76 | *M Cap* Rs. 1919 Cr | *52 W H/L* 80/23
(Nirmal Bang Retail Research)
*Result declining*
Revenue from Operations came at Rs. 281.9 Cr (-14.1% QoQ, 89.5% YoY) vs QoQ Rs. 328.1 Cr, YoY Rs. 148.7 Cr
EBIDTA came at Rs. 66.1 Cr (-30% QoQ, 77.6% YoY) vs QoQ Rs. 94.4 Cr, YoY Rs. 37.2 Cr
EBITDA Margin came at 23.4% vs QoQ 28.8%, YoY 25%
Adj. PAT came at Rs. 22.3 Cr vs QoQ Rs. 26 Cr, YoY Rs. 6 Cr
Quarter EPS is Rs. 0.9
Share is trading at P/E of 27.3x FY22E EPS
(Nirmal Bang Retail Research)
*Result declining*
Revenue from Operations came at Rs. 281.9 Cr (-14.1% QoQ, 89.5% YoY) vs QoQ Rs. 328.1 Cr, YoY Rs. 148.7 Cr
EBIDTA came at Rs. 66.1 Cr (-30% QoQ, 77.6% YoY) vs QoQ Rs. 94.4 Cr, YoY Rs. 37.2 Cr
EBITDA Margin came at 23.4% vs QoQ 28.8%, YoY 25%
Adj. PAT came at Rs. 22.3 Cr vs QoQ Rs. 26 Cr, YoY Rs. 6 Cr
Quarter EPS is Rs. 0.9
Share is trading at P/E of 27.3x FY22E EPS
*Expleo Solutions Ltd.* | *CMP* Rs. 1062 | *M Cap* Rs. 1089 Cr | *52 W H/L* 1384/280
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 88 Cr (11% QoQ, 16.1% YoY) vs QoQ Rs. 79.3 Cr, YoY Rs. 75.8 Cr
EBIDTA came at Rs. 14.6 Cr (-23.7% QoQ, -24.7% YoY) vs QoQ Rs. 19.1 Cr, YoY Rs. 19.4 Cr
EBITDA Margin came at 16.6% vs QoQ 24.1%, YoY 25.5%
Adj. PAT came at Rs. 12.8 Cr vs QoQ Rs. 11 Cr, YoY Rs. 14.3 Cr
Quarter EPS is Rs. 12.5
Share is trading at P/E of 22.2x TTM EPS
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 88 Cr (11% QoQ, 16.1% YoY) vs QoQ Rs. 79.3 Cr, YoY Rs. 75.8 Cr
EBIDTA came at Rs. 14.6 Cr (-23.7% QoQ, -24.7% YoY) vs QoQ Rs. 19.1 Cr, YoY Rs. 19.4 Cr
EBITDA Margin came at 16.6% vs QoQ 24.1%, YoY 25.5%
Adj. PAT came at Rs. 12.8 Cr vs QoQ Rs. 11 Cr, YoY Rs. 14.3 Cr
Quarter EPS is Rs. 12.5
Share is trading at P/E of 22.2x TTM EPS