MARKET WIZARD NEWSLETTER ISSUE 24

🎯Fundamental Stocks

▶️ SIP STOCK BASKET

🎯Technical Stocks

▶️ Jindal World Ltd
▶️ EKC Ltd
▶️ Navneet Education Ltd - Special Pick


TEAM MARKET WIZARD


Whatsapp Group Link - https://chat.whatsapp.com/KW2rP1KPs7TJw30A5BP4gL

Bulk Deal as on 20-08-21

Aavas Financiers
- 23.72 Lk @ 2453.62 Partners Group Escl Ltd
- 10.40 Lk @ 2453.28 Partners Group Private ( Master Fund) Llc
+ 2.62 Lk @ 2452.5 Abu Dabhi Investment Authority
+ 2.86 Lk @ 2452.5 Avendus Absolute Return Fund
+ 1.28 Lk @ 2452.5 Avendus Capital Public Market
+ 90 K @ 2452.5 BNP Paribas Arbitage
+ 4.25 Lk @ 2452.5 Hdfc Mutual fund
+ 3 Lk @ 2452.5 Hdfc Standard Life Insurance
+ 1.10 Lk @ 2452.5 Integrated Core Strategies Asia Pte Ltd
+ 1.01 Lk @ 2452.5 Kotak Mahindra Mutual Fund
+ 7.71 Lk @ 2452.5 Government of Singapore
+ 2.99 Lk @ 2452.5 Monetary Authority of Singapore
+ 1.01 Lk @ 2452.5 Morgan Stanley Asia Singapore Pte Ltd
+ 40 K @ 2452.5 Alps Kotak India growth Fund
+ 40 K @ 2452.5 Kotak Funds - India Midcap Fund
+ 40 K @ 2452.5 Public Sector Pension Investment Board
+ 2 Lk @ 2452.5 UTI Mutual Fund


Astron Paper
+ 3 Lk @ 60 Dipakkumar Chimanlal Shah

Cartrade Tech
+ 9.60 Lk @ 1563.43 Goldman Sachs Trust
+ 3.89 Lk @ 1575.55 Jupiter India Fund
+ 4 Lk @ 1590.86 Plutus Wealth Management LLP

Exxaro Tiles
- 2.5 Lk @ 121.76 Societe Generale
+ 2.39 Lk @ 121 Nexpact Ltd

Karda Construction
+ 28 Lk @ 22.45 Elara India Opportunities Fund Ltd

Poonawalla Fincorp
- 50 Lk @ 190.13 Celica Developers Pvt Ltd

Reliance Chemotex
- 3.75 Lk @ 120 Modern Fibotex India Ltd
+ 1.05 Lk @ 120 Vikram Pratapbhai Kotak
+ 90 K @ 121.3 Resonance Opportunities Fund
+ 85 K @ 120.86 Crest Partners Llp
+ 60 K @ 120 Vikram Kotak Huf

Shilpa Medicare
+ 7 Lk @ 520 Cohesion Mk best Ideas sub trust
- 19.79 Lk @ 520 Tano Mauritius India Fvci II
+ 4.74 Lk @ 520.34 Sunidhi Securities & Finance Ltd

Yaarii Digital
+ 9.04 Lk @ 92 Kifs Enterprises
- 9 Lk @ 92 Santon Developers Llp

Alert ‼️

NUVOCO - LISTING ON MONDAY 23rd AUGUST, 2021

APTUS - LISTING ON TUESDAY 24th AUGUST, 2021

CHEMPLAST - LISTING ON TUESDAY 24th AUGUST, 2021

Tata Motors’ second electric car in the personal mobility space Tigor EV is set to debut on August 31. Spy shots revealed Tigor EV is expected to run over 300 kilometers on a single charge. 
Tigor EV, much like the Nexon EV, is powered by a company’s Ziptron electric module. Tigor EV, however, gets a smaller 26 kWh battery pack against Nexon EV’s 30.2 kWh


https://timesofindia.indiatimes.com/auto/cars/tata-tigor-ev-to-supply-over-300-km-range-dealership-images-surface/articleshow/85510231.cms

Are the markets forgetting the risk of a third wave? You shouldn’t

https://economictimes.indiatimes.com/markets/stocks/news/are-the-markets-forgetting-the-risk-of-a-third-wave-you-shouldnt/articleshow/85508502.cms

Download Economic Times App to stay updated with Business News - https://etapp.onelink.me/tOvY/135dde21

*MONEY TIMES TALK*
_August 21, 2021_

Graphite India has expanded the capacity of its Chittoor plant by 10200 TPA by internal accruals on hopes of earning Rs. 150 cr. additional revenue per year. Buy this lithium-ion battery recycling share immediately for big gains.

Grasim’s Q1 zoomed four-fold to Rs. 2447 cr. The roaring results were due to improved workings of all the divisions. A very good long term investment.

Spice Jet Q1 net loss widened to Rs. 729 cr. v/s Rs. 593 cr. in the corresponding previous quarter. Stay away.

Reliance Jio is reportedly close to a Rs. 1005 cr. pact with Airtel to acquire the right to use its 800 MHz spectrum in three cities. Add Reliance Industries.

A veteran marketman believes that its time to reshuffle one’s portfolio and focus on only selected growth stocks available at attractive valuations. He recommends to buy Ajanta Soya, Amarjothi Spinning cum 21% dividend, Asian Energy, Foods & Inns cum 20% dividend, Godavari Drugs, Hindustan Tin Works cum 12% dividend, Jaysynth Dyestuff (India) cum 20% dividend, KPI Global, Panchsheel Organics, Rana Sugars, Ram Ratna Wires cum 20% dividend and Rubfila International.

India’s largest two-wheeler company, Hero MotoCorp, plans to launch its first e-bike by March 2022. A big positive. Add.

IGL stunned the market with an eight-fold jump in Q1FY22 profit to Rs. 277 cr. It is the largest CNG distributor operating across 27 districts across UP, Haryana, Rajasthan and Delhi. Buy.

Cosmo Films is spreading its wings in Specialty chemicals and masterbatches, FMGC products and the Pet care industry. The Company has a bright future. A big buy call.

Textile major, Himatsingka, managed to post Q1FY22 EPS of Rs. 5.86 v/s negative EPS of Rs. 14.20 in Q1FY21. Add in small quantities.

Guj Fluorochemicals doubled its Q1 NP to Rs. 151.16 cr. from Rs. 70.19 cr. in Q120. The EPS of Rs. 13.76 in a single quarter v/s yearly negative EPS of Rs. 20.17 in FY21, merits a buy.

Tanfac Industries delivered fantastic Q1 results with profits at Rs. 21.24 cr v/s Rs. 2.56 cr. in Q1FY21. An EPS of Rs. 21.29 in a single quarter merits a buying.

Sugar cos. are on a roll. EID Parry posted Q1FY22 profit of Rs. 132.61 cr. v/s Rs. 29.33 cr. in Q1FY21. Its EPS has jumped from Rs. 1.66 to Rs. 7.47. Merits a Buy.

Sobha’s Q1 PAT spurted 64% YoY to Rs 10.8 cr on 46% growth in sales to Rs. 512.3 cr. despite the adverse impact of Covid-19. The share may be retained for some time.

Hindustan Zinc’s interim dividend board meeting is deferred but commodity prices are likely to remain firm for some time. The drop in its share price is an opportunity to accumulate.

Steel Strip Wheels to split its share into a lower face value that will boost its liquidity. A small spike in the share price is possible.

Caplin Steriles, a subsidiary of Caplin Point Laboratories, has won the approval of Brazil’s Anivisa, for its sterile injectable manufacturing unit at Chennai. Buy.

JSW’s Rs.10,000 cr. capex plan for the next 5 years will strengthen its position in the Steel industry. With steel prices on the rise, it would be prudent to add this share in small quantities.

Nicco Parks & Resorts, which shut down end April due to the pandemic restrictions, has resumed operations. Around Rs. 46, it is a good share to add.

Mazagon Docks has big orders from the Defence Ministry to make Scorpio class submarines. At the current beaten down rate around Rs. 238 makes it a good buy.

Gokuldas Exports’ board meeting to consider raising funds via various options to meet the growing business demand. The share can rise on hopes of higher profitability.

Real estate revival is strong and IndiaBulls Housing’s profit has also started rising. It plans to add 50 new branches in Tier 3 & 4 towns by end FY22. Around Rs. 233, it is a good buy.

Suraj Products produces Sponge Iron and three downstream products viz. TMT Bars, Pig Iron and MS Ingots. It has notched 328% higher Q1FY22 EPS of Rs. 6 as against FY21 EPS of Rs. 8, which may lead to FY22 EPS of over Rs 20. The share could double to Rs. 140.

NDTV posted 127% higher Q1FY22 EPS of Rs 2.5 (FV: Rs 4) against FY21 EPS of Rs 11, which may lead to FY22 EPS of Rs 14+. It has reduced its debts by Rs 31.7 cr. in Q1 and the share is poised to cross the Rs 120 mark in the medium term. Add.

India Glycols, the largest producer of mono ethylene glycols\oxides etc, is setting up two new distilleries to manufacture ethanol. It has notched 1550% higher Q1FY22 EPS of Rs 65 and may clock FY22 EPS of about Rs 200. The share may fetch hefty gains in the medium to short term. Must for every portfolio.

Maharashtra Seamless, the integrated manufacturer of ERW, Seamless and Coated pipes with over 50% market share and having captive power plants has notched Q1FY22 EPS of Rs 14.3 Vs Rs 2.9 (YoY) against Rs 31.1 (excluding exceptional income) in FY21. This could lead to FY22 EPS of Rs 50+. The share may cross the Rs 500 mark.

Shree Ajit Pulp & Paper Mills, one of the top recycled Kraft Paper manufacturers, has earned 1269% higher Q1FY22 EPS of Rs 17.8 against FY21 EPS of Rs 46. This may lead to FY22 EPS of Rs 65 on its small equity of Rs 5.3 cr. A reasonable P/E of 10x can take the share price to Rs 600. Buy.

Cash-rich Universus Photo Imaging, the demerged entity of Jindal Poly Films manufactures X-Ray Films & other products with 47.51% stake in JPF Netherland B.V., has posted Q1FY22 EPS of Rs 42.5( as against FY21 EPS of Rs. 31.3) and may post FY22 EPS of Rs.60. The book value of its share is Rs.1205 as it has Rs. 1150 cr. in mutual funds on its small equity of Rs 11 cr. Buy for 40% gain in the medium term.

Coral Laboratories has low equity of Rs 3.6 cr., book value of Rs.383 and over 20 years in manufacturing of pharmaceutical formulations, nutraceuticals, OTC and herbal medicine at three locations across India, has notched 10% higher Q1 EPS of Rs.16.2 against FY21 EPS of Rs 38, which could take FY22 EPS to Rs 50. A reasonable P/E of 14.5x can take its share price to Rs 725 in the medium term. Accumulate.

Voith Paper Fabrics, a German MNC with 74% equity has posted 80% higher Q1 EPS of Rs 18 as against FY21 EPS of Rs 44. Undergoing expansion, it may notch FY22 EPS of Rs 70 and Rs 80 in FY23 post expansion. Buy for a hefty gains of 50%.

Debt-free IST Ltd. manufactures auto components and precision parts and is into IT infrastructure. It has notched 24% higher Q1 EPS of Rs 24 as against FY21 EPS of Rs 82, which could lead to FY22 EPS of Rs 100 and the share may touch Rs 1000 mark. It has cash and cash equivalent of Rs 595 cr. and investment in a property worth Rs 238 cr. as at FY21. Buy.

Shilp Gravures is the undisputed leader in Electro-Mechanical Engraving, which is a precision technology and has state-of-art Flexo plate processing technology, has garnered 1433% higher Q1 EPS of Rs 4.6 against FY21 EPS of Rs 16.7 on its small equity of Rs 6.1 cr., which could lead to FY22 EPS of Rs 20. The share, which made a lifetime of Rs 180 on 11 Oct 2017, is expected to advance by 40%. Buy.

Suryaaamba Spinning Mills established in the domestic and export markets with a wide product range from 100% polyester and viscose spun yarns, as well as blended synthetic yarns used for weaving, has garnered Q1FY22 EPS of Rs 8.9 Vs negative Rs 3.3 in Q1FY21 and Rs 14.5 in FY21. FY22 EPS may touch Rs 28 on its small equity capital of Rs 2.9 cr. The share offers 100% gain potential. Buy.

Gujarat Craft Industries, manufacturer and exporter of PP/ HDPE coated woven products like PE Tarpaulin, Plastic Sheeting, PP /HDPE Woven Fabric, Woven Sacks, Flexible Intermediate Bulk Containers /Bulk bags etc. has notched 31% higher Q1 EPS of Rs 4.7 as against FY21 EPS of Rs 7.2, which could take FY22 EPS to Rs 15+. The share may cross the Rs 100 mark. Buy.

Nile Ltd., manufacturer of Lead and lead alloys is setting up a Lithium-ion recycling plant and diversifying into natural extracts, posted Q1 EPS of Rs 16.9 Vs minus Rs 2.3 YoY and FY21 EPS of Rs 46.2 on its tiny equity of Rs 3 cr., which could lead to FY22 EPS of Rs 68+.

The share, which hit its highest of Rs 1164 on 7 Nov 2017, is all set to touch Rs 900 in the medium term.

Meghmani Organics engaged in the manufacture of pigments and agrochemicals and undergoing an expansion of Rs 310 cr. has notched Q1FY22 EPS of Rs 2.7. This could lead to FY22 EPS of Rs 12. The share could touch Rs 144 mark in the medium term. Buy.

Nahar Industrial Enterprises, a vertically-integrated textile manufacturer also has a 2500 TCD sugar unit and posted Q1 EPS of Rs 8.7. It is now merging Cotton County, a Group company, which is an integrated player across the entire value chain and has a strong position in the competitive ready-to-wear apparel market as a ‘value for money’ brand. Buy for decent gain in the medium term.

Greaves Cotton, a diversified engineering co. clocked ~30% new business and overall ~60% B2C share in FY21. E-mobility will drive its future growth as its ‘Ampere’ electric 2-wheeler sold 1lakh units and it took 26% stake in e-3 wheeler maker MLR Auto. Buy for long term with Rs. 230 target.

While Britannia hits lifetime highs, Bombay Burmah Trading with majority stake in it still trades at Rs1200 – way below its all-time high of Rs 2100. A no brainer buy for a quick 50% appreciation.

Venkys India has corrected nearly 40% to Rs2500 from its recent high of Rs.4000. Stock is ripe for an up-move with support near its 100 Days moving average (DMA).

VST Tillers expects a top-line of Rs.3000cr. by 2025 from Rs.750 cr. at present. Buy the stock at every decline for 100% gain in the medium to long term.

Electric 2-wheelers are gaining ground as seen by the massive bookings for Ola, Bajaj Chetak, Ather Energy. Kabra Extrusion, which has a subsidiary Battrixx which makes lithium ion batteries, should be kept on the radar.

Renuka Sugars has corrected from a high of Rs.50 to Rs.24 and is a good buy at the current level as it is the largest ethanol producer in the country.

Digispice Technologies has formed a JV with actor Sonu Sood and created an online platform for e-travel. Slowly and steadily, the promoter is ticking all the right boxes.

Hindustan Oil has discovered 10 times more gas in its block than initially thought of. The co. expects revenue to double and profits to quadruple in the coming year. A good buy in this recent mid-cap meltdown.

MPS is doing well after integrating its acquisition, which is a master of takeovers. MPS merits attention.

EID Parry is the best way to play the structural transformation of both Sugar and Fertilizer segments. Buy and hold for the long term. Co. has also reduced its debt.

Another fertilizer co. on the go is Chambal Fertilizers. It has substantially reduced its debt and interest outgo and the tight management will ensure that the co. gets re-rated.

Ajanta Soya, producer of vanaspati, cooking oils and other bakery foods posted blockbuster growth of 1176% Q1 net profit of Rs. 8.68 cr. v/s Rs 68 lakh in Q1FY21. Yet the stock is available at PE of 6x. Well-known HNIs Sangeetha S holds 9.80%, Liladhar Sharma holds 2.26%, Arunkumar Jain holds 1.66%, Vinod Sharma holds 1.42% and Harshit Jain holds 1.24% stake. Buy for multi-bagger gains in the medium to long term.

SKM Egg Products, manufacturer and exporter of egg powder, is a dividend paying co. It posted Q1 net profit of Rs.3.67cr. and announced final dividend of 10%.Technically, stock looks strong and can touch Rs.110 if it crosses Rs.99 with volumes. Buy for quick gains.

Asian Energy posted Q1 net profit of Rs.25.30 cr. v/s Rs.5.89 cr. in Q1FY21. This 429% growth stock is available at a PE of 5x. It is fundamentally and technically strong in such an uncertain market sentiment. Buy for good returns in the short to medium term.

Food & Inns, which is into processed fruits pulps & vegetables posted 346% higher Q1 net profit of Rs.6.11 cr. v/s Rs.1.37 cr. in Q1FY21. It’s a safe and solid buy on its small equity of Rs.5.03 c with huge reserves of Rs. 177.44 cr. Technically, if it crosses Rs.82 with volumes, it can rise to Rs.100+ fast.

Amarjothi Spinning posted 3330% higher Q1 NP of Rs.4.46 cr. v/s Rs.13 lakh in Q1 FY21 on its equity of Rs. 6.75 cr. with book value of Rs.219. HNIs Anilkumar Goel raised his stake to 5.33% from 3.94%, CH Kiron holds 2.54%, Sangeetha S holds 2.28%. Stock is at PE of 8x cum 21% dividend and corrected from Rs.223 to Rs.167. Buy for short to medium term.

Hindustan Tin Works from the packaging business posted 1088% higher Q1 net profit of Rs.4.99 cr. v/s Rs 42 lakh in Q1FY21 is available cum 12% dividend at PE of 7x. Reputed HNI Sangeetha S holds 4.99% stake. Technically, if it crosses Rs 129 with volumes, it may cross Rs143 very fast. Buy for superb returns in short, medium as well as long term.

Jaysynth Dyestuff posted 543% higher Q1 NP of Rs.1.93 cr. v/s Rs 30 lakh in Q4FY21. This fundamentally and technically strong share is available cum 20% dividend. Against its tiny equity of only Rs. 87 lakh, it has huge reserves of Rs. 83.53 cr. Promoter holding is 74.75%. Stovec Industries holds 1.99% stake. Buy for fast return in short to medium term.

Ram Ratna Wires posted Q1 net profit of Rs.8.42 cr. v/s loss of Rs. 5.29 cr. Despite this spectacular turnaround, the share has corrected from its recent high of Rs168 to Rs130. Available cum 20% dividend at a very attractive valuation, buy at every dip for very good returns in the medium to long term.

Rubfila International is the only Indian manufacturer of talcum coated and silicon coated rubber threads with virtually no competition. It declared 26% dividend for FY21 with 142% higher Q1 net profit of Rs.11.53 cr. v/s Rs. 4.76 Cr. for Q1FY21. The share has corrected to Rs103 from its recent high of Rs. 124 and is very attractive investment.

Panchsheel Organics, a dividend paying company posted 72% higher Q1 net profit of Rs. 1.69 cr. v/s Rs 98 lakh in Q1FY21 on its small equity of Rs. 5.01 cr. Buy for good returns in the short term. Technically, if it crosses Rs.120 with volumes, its can rise to 130+.

Secunderabad based Godavari Drugs posted 67% higher Q1 net profit of Rs. 1.42 cr. v/s Rs. 85 lakh in Q1FY21 on its equity of Rs.7.53 cr. The share has corrected from Rs.83 to Rs.69. Fundamentally sound and technically strong, buy it for good return in the short term. Above Rs.84, it can rise up to 100+ fast.

Rana Sugars posted blockbuster Q1 NP of Rs.54.11 cr. v/s loss of Rs.2.67 cr. in Q1FY21. It’s the only sugar co. in cattle feed and its Distillery sells branded liquors. The share has corrected from Rs.38 to Rs.29 but can touch Rs45+ on crossing Rs38 with volumes. Globally, sugar is at a 52 week high and domestic sale is set to rise in the festive season .

"We are proud to work with Infineon to pioneer the use of green hydrogen in the semiconductor industry," said Veerle Slenders, President Region Europe West, Linde. "Linde has supplied Infineon for over 20 years and we are pleased to support our customer's sustainability initiatives through the use of technology and smart solutions."
Linde is a global leader in the production, processing, storage and distribution of hydrogen. It has the largest liquid hydrogen capacity and distribution system in the world. The company operates the world's first high-purity hydrogen storage cavern plus pipeline networks totaling approximately 1,000 kilometers globally, to reliably supply its customers. Linde is at the forefront in the transition to clean hydrogen and has installed close to 200 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through the joint venture ITM Linde Electrolysis GmbH as well as ultra-high-purity hydrogen supply solutions for the semiconductor industry.
https://www.linde.com/news-media/press-releases/2021/linde-to-supply-green-hydrogen-to-the-semiconductor-industry

Finance Ministry summons Infosys CEO over new e-filing portal glitches on August 23
https://www.moneycontrol.com/news/business/finance-ministry-summons-infosys-ceo-over-new-e-filing-portal-glitches-on-august-23-7371511.html

*Tata Motors' Biggest Problem Is Not Chip Shortage: BQ Exclusive*

India’s third-largest carmaker, Tata Motors Ltd., is concerned about the rising costs of raw materials. “It (raw material cost) is becoming very, very painful,” PB Balaji, chief financial officer at Tata Motors Group, told BloombergQuint in an interview.

“Prices right now are moving so fast that we are not able to process it,” he said.

According to Balaji, in the last one year vehicle cost across categories has gone up by 14% due to engine upgradation to meet lower emission standards (BS-VI). Another 6-7% rise in price is owing to higher steel costs.

So far, the company has hiked prices three times but is yet to recover the full increase in cost. “We have taken 6% price increase already. I think we are still losing at least 350-400 basis points of the margins because we are not able to pass-on hike in price of steel,” said Balaji. The automaker, according to him, is required to further hike prices by 5% to make up for the increased steel price

The company is uncertain if the fragile recovery in demand can bear the burden of higher fuel and auto costs. Already, the chip shortage has hurt production in India and for the Jaguar Land Rover business. Balaji said in the July-September quarter, 50% of JLR volumes, that’s about 65,000 units, would be lost to the chip shortage. In India production will be lower by 3,000-6,000 units compared with
the average quarterly production of 45,000-50,000 units. Somehow the company has stocked dealers to meet demand in the festival season that starts soon.

Balaji is hopeful of a strong recovery in the second half of the fiscal and may push further product price hikes till then. “At this point I’m starting to worry, and we need to be careful that we don’t overdo the pricing,” he said, adding that he hopes raw material prices stabilise soon.

“Various works are happening to take the steel out in its entirety and then of course product mix is a very important lever. Per vehicle I may not be able to make money, but if it’s a better mix of products I can make money out of that,” he said adding that automaker is working at every aspect to get operating leverage and find ways to make money.

*Monetisation Plans*

Despite the headwinds, Tata Motors is on track to achieve a near-zero net debt target by fiscal 2023-24. It depends on free cash flow generation that will account for bulk of recovery, monetisation of non-core assets, and residual equity top-up.

Balaji said the company was looking at monetising some or all of its shareholding in Tata Technologies Ltd., Tata Hitachi Construction Machinery Co., and Tata Finance Ltd. It also intends to turn to financial investors to fund its electric vehicle portfolio.

Tata Motors is currently in the process of demerging the passenger vehicle business into a wholly owned subsidiary. The domestic EV business will be housed under that subsidiary.

*Other highlights*

Continue to have conversation with partners for the passenger vehicles business.

EVs to account for 25% of the volumes by 2025.

Current EV order book: 4-5 months.

JLR and Tata Motors to be the key customers for Tata Chemicals Ltd. for cell supply.

To set up 15,000 charging networks in the next three-four years.

Interesting Corporate moves:-

1.Mastek CEO moved to Route mobile
2.Greenpanel's President moved to Signet ind
3.HUL's ED moving to Godrej Consumer
4.Ather Energy's VP moved to Danlaw tech
5.Shilpa medi COO moved to Shivalik Rasayan

6..Sanjay Sinha Ex RIL moved to Thirumalai Chemicals as new CEO.
7..Sushobhan Dasgupta Ex-MD of Johnson & Johnson Medical Asia Pacific joined Shalby Hospitals as its vice-chairman and global president.
8..Sandipan Chattopadhyay moved from Just dial to Xelpmoc.

9..Tata Power ex MD Anil Sardana moved to Adani Transmission.
10..Bata's new CEO Mr. Shah is ex Britannia..
11..Ex MD of Navin fluorine joined DCM Shriram. Some senior functionaries from kotak mahindra joined as chief of internal audit.
12..Satya Vedula-Tech Mahindra to Virinchi.

13..Narayanan Easwaran (Chief Technology officer) was the head of IT at IDFC bank for 9+ years.
14..Vaibhav Joshi (Chief Digital officer) was Head of Digital at Yesbank for 6+ years. Both moved to Equitas Small Finance.
15..IEX, Director and CEO moves to Redington, India.

*IPO: Bain Capital-Backed Emcure Pharmaceuticals Looks To List*

Pune-based Emcure Pharmaceuticals Ltd. filed its draft red herring prospectus with the Securities and Exchanges Board of India on Thursday. The company is looking to raise Rs 1,100 crore through a fresh issue of equity shares and also conduct an offer for sale of 1.82 crore shares owned by promoters, promoter group and other investors.

The selling shareholders include: Promoters Satish Mehta and Sunil Mehta who cumulatively own 48.05% stake in the company Family members of the promoters who own 33.55% stake BC Investments IV Ltd, an affiliate of Bain Capital, which owns 13.09% Other investors who own 4.23%

In the offer for sale, the promoters are looking to sell up to 22.8 lakh equity shares, the promoter group is looking to sell up to 37.35 lakh shares, BC Investments is looking to sell up to 99.5 lakh shares and other shareholders will look to sell 22 lakh shares.

The selling shareholders may also undertake a pre-IPO placement worth Rs 200 crore before filing the red herring prospectus, the DRHP said. Merchant bankers to the IPO include BoB Capital, Axis Capital, BofA Securities, Credit Suisse and JM Financial.

Emcure develops, manufactures and markets a broad range of pharmaceutical products - formulations, biologics, APIs - across major therapeutic areas including gynaecology, cardiology, blood-related, oncology, respiratory, CNS and HIV.

At least Rs 947.6 crore from the proceeds of the offer will be used to repay either full or a part of Emcure Pharma's borrowings, according to the DRHP. As of March 31, the company's total outstanding borrowings were at Rs 1,712 crore

Emcure Pharma's lenders include Export Import Bank of India, Aditya Birla Finance, Tata Capital, Shinhan Bank, Bajaj Finance, Bank of Maharashtra and Bank of Baroda.

*As of March 31, the company reported a consolidated net profit of Rs 419 crore, up over four times from Rs 101 crore reported a year ago. Consolidated total income for FY21 stood at Rs 6,092 crore, up 19% year-on-year*

#SRF

Boardmeet on 31-August (Tuesday)
To consider issuance of bonus shares

Securities in #BAN

For Trade Date 23-AUGUST

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Ruchi Soya , Marico : Govt Reduced Import duty on Soya Oil to 7.5 % From 15 %

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In Markets every day we are witnessing consolidation in Nifty and in stocks too after huge breakout of 16000 levels on Nifty.

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