Max Healthcare: Kayak Investments Holding Private Limited (affiliate of KKR) to sell 6.3 cr shares (6.57% stake) on the price range Rs 350-369/sh
Base deal size Rs 2,220 cr
Base deal size Rs 2,220 cr
๐ฃ๐๐ฅ๐๐ฆ ๐๐๐๐๐ก๐๐ ๐๐ฃ๐ข ๐๐๐๐ข๐ง๐ ๐๐ก๐ง - ๐๐๐ก๐ ๐๐๐๐๐ง ๐ฆ๐ง๐๐ฅ๐ง๐ฆ
Allotment will be uploaded soon on
https://t.co/mLAt4cbIWr
GMP 225
Allotment will be uploaded soon on
https://t.co/mLAt4cbIWr
GMP 225
Case for Tata Power & IEX - Potential next decade emerging stocks!!
In summary, the Amendment Bill 2021 says:
โก๏ธ Delicensing of state monopoly- open to competition
โก๏ธ Consumers can choose discoms (like telcos)
โก๏ธ Smart meters to plug leakages
โก๏ธ Easy resolution of disputes
โก๏ธ Right to 24x7 electricity
โก๏ธ Rewarding consumers shifting to solar
India has one of the largest and most complex power sectors in the world. Last 2 decades saw gradual evolution - grid electricity, lesser power cuts, increase in renewables.
If the Bill is passed, the next decade can well be a decade of power renaissance.
In summary, the Amendment Bill 2021 says:
โก๏ธ Delicensing of state monopoly- open to competition
โก๏ธ Consumers can choose discoms (like telcos)
โก๏ธ Smart meters to plug leakages
โก๏ธ Easy resolution of disputes
โก๏ธ Right to 24x7 electricity
โก๏ธ Rewarding consumers shifting to solar
India has one of the largest and most complex power sectors in the world. Last 2 decades saw gradual evolution - grid electricity, lesser power cuts, increase in renewables.
If the Bill is passed, the next decade can well be a decade of power renaissance.
SEBI clears way for launch of silver exchange-traded funds in India
https://www.moneycontrol.com/news/business/personal-finance/sebi-clears-way-to-launch-silver-etfs-in-india-7519121.html
https://www.moneycontrol.com/news/business/personal-finance/sebi-clears-way-to-launch-silver-etfs-in-india-7519121.html
Moneycontrol
SEBI clears way for launch of silver exchange-traded funds in India
Silver has been an integral part of investorsโ commodity portfolio globally. As per etfdb.com, five silver ETFs account for assets worth USD 13.7 billion.
Apar Industry CMP 650
Apar is a market leader in India with a global presence. Contributing to Indiaโs process of electrification it started from manufacturing power transmission cables to having three broad business segments, which are Conductors, Transformer and specialty oils (TSO), and Power/telecom Cables
Financial
- ROE, ROCE and ROA is around 12%, 22% and 3% respectively.
- P/BV: 1.8, Face Value: INR 10, MCAP: 2450 Cr. Price to sales: 0.36
- Forward PE - 10, Int coverage ratio: 3.5
- FY2021 topline was around 6,388 Cr Vs. 7,425 Cr in March 2020 down by 10% in YoY.
- FY2021 PAT was around 160 Cr Vs. 135 Cr in March 2020 up by 12.5% in YoY.
- Q1FY22 topline was around INR 1,810 Cr Vs. 1,289 Cr Vs. 1,899 Cr in QoQ therefore up by 40% in YoY and declined by 5% in QoQ.
- Q1FY22 PAT was around 62 Cr Vs. (23) Cr Vs. 48 Cr.
- Operating profit margin was near to 7 and its stable.
- Small equity capital: INR 38 Cr and its hold by Promoters: 60.5%, DIIS and FIIS hold by 19.4% and 4.1% respectively.
Opportunities
- Leader in Conductors (48% of Revenue):
Apar has a market share of 25%.
It is amongst the largest global manufacturer (a pioneer in aluminum alloy rod & conductors)
It supplies to all top 25 global turnkey operators and leading utilities
- Leader in Specialty Oils (30% of Revenue):
It has a range of over 350-grade oils, with 500+ variants of transformer oils, white oils, petroleum jelly, and process oils. It has a market share of 45%.
It is the 4th largest global manufacturer of transformer oils (Leading domestic player in auto lubes).
- Leader in Power and Telecom Cables (22% of Revenue):
It provides specialist technical services, cable design, etc. engaged in electrical and telecom cables as well as elastomer cables.
Leadership: Leading player in cables (largest in cables for Renewable sector).
-Largest Indian supplier to the Nuclear Power industry.
Key Customers- BSNL, Reliance Jio, etc.
- The company exports to over 100 countries like South East Asia, Middle East, Africa, South America, etc. It contributes to 30% of the revenue.
- Recently developed a greenfield conductor plant in Athola with a focus on exports making it the largest Indian conductor exporter.
- Highly diversified business model. And after PLI scheme and 5G network opportunity will be good for company.
- Semi conductor business will be added advantage.
- Net operating cash flow is also sound as of FY21 it was 324 Cr at against INR 84 Cr in FY20.
Risk
- Increasing account receivable period which is currently above 3 months.
- Single digit sales growth for last 10 years.
- Despite debt of around INR 325 Crs. Borrowing cost is too high which is also cutting their margin.
View: Share 52 week high 723 and now 649. Strong support 600. Short to mid term target can be ***++
Disclaimer: Views are shared based on market research and study and personal in nature. Others can take the different view and opinions. Please do the thoroughly study before enter or exit the shares.
Apar is a market leader in India with a global presence. Contributing to Indiaโs process of electrification it started from manufacturing power transmission cables to having three broad business segments, which are Conductors, Transformer and specialty oils (TSO), and Power/telecom Cables
Financial
- ROE, ROCE and ROA is around 12%, 22% and 3% respectively.
- P/BV: 1.8, Face Value: INR 10, MCAP: 2450 Cr. Price to sales: 0.36
- Forward PE - 10, Int coverage ratio: 3.5
- FY2021 topline was around 6,388 Cr Vs. 7,425 Cr in March 2020 down by 10% in YoY.
- FY2021 PAT was around 160 Cr Vs. 135 Cr in March 2020 up by 12.5% in YoY.
- Q1FY22 topline was around INR 1,810 Cr Vs. 1,289 Cr Vs. 1,899 Cr in QoQ therefore up by 40% in YoY and declined by 5% in QoQ.
- Q1FY22 PAT was around 62 Cr Vs. (23) Cr Vs. 48 Cr.
- Operating profit margin was near to 7 and its stable.
- Small equity capital: INR 38 Cr and its hold by Promoters: 60.5%, DIIS and FIIS hold by 19.4% and 4.1% respectively.
Opportunities
- Leader in Conductors (48% of Revenue):
Apar has a market share of 25%.
It is amongst the largest global manufacturer (a pioneer in aluminum alloy rod & conductors)
It supplies to all top 25 global turnkey operators and leading utilities
- Leader in Specialty Oils (30% of Revenue):
It has a range of over 350-grade oils, with 500+ variants of transformer oils, white oils, petroleum jelly, and process oils. It has a market share of 45%.
It is the 4th largest global manufacturer of transformer oils (Leading domestic player in auto lubes).
- Leader in Power and Telecom Cables (22% of Revenue):
It provides specialist technical services, cable design, etc. engaged in electrical and telecom cables as well as elastomer cables.
Leadership: Leading player in cables (largest in cables for Renewable sector).
-Largest Indian supplier to the Nuclear Power industry.
Key Customers- BSNL, Reliance Jio, etc.
- The company exports to over 100 countries like South East Asia, Middle East, Africa, South America, etc. It contributes to 30% of the revenue.
- Recently developed a greenfield conductor plant in Athola with a focus on exports making it the largest Indian conductor exporter.
- Highly diversified business model. And after PLI scheme and 5G network opportunity will be good for company.
- Semi conductor business will be added advantage.
- Net operating cash flow is also sound as of FY21 it was 324 Cr at against INR 84 Cr in FY20.
Risk
- Increasing account receivable period which is currently above 3 months.
- Single digit sales growth for last 10 years.
- Despite debt of around INR 325 Crs. Borrowing cost is too high which is also cutting their margin.
View: Share 52 week high 723 and now 649. Strong support 600. Short to mid term target can be ***++
Disclaimer: Views are shared based on market research and study and personal in nature. Others can take the different view and opinions. Please do the thoroughly study before enter or exit the shares.
Moneycontrol: Future Group gets NCLT nod to hold meetings for sale of assets to Reliance.
https://www.moneycontrol.com/news/business/future-group-gets-nclt-nod-to-hold-meetings-for-sale-of-assets-to-reliance-7519191.html
https://www.moneycontrol.com/news/business/future-group-gets-nclt-nod-to-hold-meetings-for-sale-of-assets-to-reliance-7519191.html
Moneycontrol
Future Group Gets NCLT Nod To Hold Meetings For Sale Of Assets To Reliance
In the order issued on September 28, the NCLT asked the Future Group to propose a suitable date to hold the extraordinary general meeting (EGM) of the shareholders and creditors to seek their approval for the sale of its assets to Reliance Retail for a considerationโฆ
U.S. FDA Flags Quality Lapses At Lupinโs Goa Facility
The U.S. drug regulator has flagged non-compliance with manufacturing and testing standards at Lupin Ltd.โs Goa facility that caters to the American market for the drugmaker.
A copy of the observations obtained by BloombergQuint revealed that the U.S. Food and Drug Administration highlighted quality control and procedural lapses at the facility.
Lupin declined to offer details of observations, and has yet to respond to BloombergQuintโs follow-up queries emailed on Monday.
The U.S. FDA completed the inspection at the Goa facility on Sept. 18. The unit, along with four other facilities of Lupin, is already under a warning letter that bars export of new products to the U.S.
The U.S. drug regulator has flagged non-compliance with manufacturing and testing standards at Lupin Ltd.โs Goa facility that caters to the American market for the drugmaker.
A copy of the observations obtained by BloombergQuint revealed that the U.S. Food and Drug Administration highlighted quality control and procedural lapses at the facility.
Lupin declined to offer details of observations, and has yet to respond to BloombergQuintโs follow-up queries emailed on Monday.
The U.S. FDA completed the inspection at the Goa facility on Sept. 18. The unit, along with four other facilities of Lupin, is already under a warning letter that bars export of new products to the U.S.
*Rising commercial vehicle demand to be additional growth lever: Sona BLW Precision*
Demand for commercial vehicles has started picking up in the local market and will emerge as an additional lever of growth, along with international markets and the battery electric vehicle segment mid-term, said auto component firm Sona BLW Precision Forgings.
The company, however, said that while green shoots are visible in the CV segment, it expects sales in the category to regain peak volumes seen in 2018 only by 2024. In 2020, 505,189 commercial vehicles were sold in the domestic market, just over half of the 1,005,380 units sold in 2018.
Contribution from electric vehicles to the companyโs overall revenues will increase every year, said managing director Vivek Vikram Singh.
The share of battery electric vehicles (BEV) in the first quarter of this financial year grew to 19.9% from 13.8% in 2020-21
Sona BLW Precision Forgings, which has been supplying components for electric vehicles to automakers in North America, Europe and China, said the global EV market is estimated to grow at a compound annual growth rate of 36% for the next four-five years. With 57% of its new order book of $ 1.9 billion over the next 10 years coming in from the BEV or PHEV (plug-in hybrid) segment, the company said its revenue dependence on components for internal combustion engine vehicles will steadily reduce.
Overall, the company is looking at investing about Rs 950 crore in the three years till 2023-24 to service its order book.
Singh said while the company is executing programmes in the EV segment for customers in India, the market is evolving and yet to gain sizeable scale, both in volume and value terms. โThe potential is huge, policies are in favour (of EVs). Once the cost of batteries comes down, the market will tip,โ he said.
The company, which supplies gears, differential assemblies and final assemblies to carmakers making EVs of 100 kilowatts and above, is working on expanding the driveline product range to cover the small and mid-segment BEV market. In the motor business, the company has developed higher voltage systems like the 48 watt BSE or the 30 kilowatt plug-in hybrid motor and controller, which are both currently in testing phase with different customers in India and China
Separately, to reduce dependence on China for raw materials in the changed geopolitical environment, the company is working with Israelโs IRP Nexus and Indiaโs iCreate to develop a new powertrain, which will not use magnets. Sona Comstar will have the exclusive rights to manufacture the systems in India for sale in the global two- and three-wheeler market.
China controls 95% of the global supply of magnets. โA big portion of the cost of the motor is rare earth magnets. If we can make a motor without magnets, not only can we ensure security of our supplies, there will also be a huge cost advantage,โ said Singh.
If successful, a cheaper light-weight motor can accelerate e-mobility, particularly in the two-wheeler segment, he said.
To diversify risks geographically, the company has additionally been making efforts to expand business in Europe and China. Most of its new EV orders in the past nine months have come from Europe. International business accounted for 79% of revenues in the quarter to June, led by North America, Europe and China.
Demand for commercial vehicles has started picking up in the local market and will emerge as an additional lever of growth, along with international markets and the battery electric vehicle segment mid-term, said auto component firm Sona BLW Precision Forgings.
The company, however, said that while green shoots are visible in the CV segment, it expects sales in the category to regain peak volumes seen in 2018 only by 2024. In 2020, 505,189 commercial vehicles were sold in the domestic market, just over half of the 1,005,380 units sold in 2018.
Contribution from electric vehicles to the companyโs overall revenues will increase every year, said managing director Vivek Vikram Singh.
The share of battery electric vehicles (BEV) in the first quarter of this financial year grew to 19.9% from 13.8% in 2020-21
Sona BLW Precision Forgings, which has been supplying components for electric vehicles to automakers in North America, Europe and China, said the global EV market is estimated to grow at a compound annual growth rate of 36% for the next four-five years. With 57% of its new order book of $ 1.9 billion over the next 10 years coming in from the BEV or PHEV (plug-in hybrid) segment, the company said its revenue dependence on components for internal combustion engine vehicles will steadily reduce.
Overall, the company is looking at investing about Rs 950 crore in the three years till 2023-24 to service its order book.
Singh said while the company is executing programmes in the EV segment for customers in India, the market is evolving and yet to gain sizeable scale, both in volume and value terms. โThe potential is huge, policies are in favour (of EVs). Once the cost of batteries comes down, the market will tip,โ he said.
The company, which supplies gears, differential assemblies and final assemblies to carmakers making EVs of 100 kilowatts and above, is working on expanding the driveline product range to cover the small and mid-segment BEV market. In the motor business, the company has developed higher voltage systems like the 48 watt BSE or the 30 kilowatt plug-in hybrid motor and controller, which are both currently in testing phase with different customers in India and China
Separately, to reduce dependence on China for raw materials in the changed geopolitical environment, the company is working with Israelโs IRP Nexus and Indiaโs iCreate to develop a new powertrain, which will not use magnets. Sona Comstar will have the exclusive rights to manufacture the systems in India for sale in the global two- and three-wheeler market.
China controls 95% of the global supply of magnets. โA big portion of the cost of the motor is rare earth magnets. If we can make a motor without magnets, not only can we ensure security of our supplies, there will also be a huge cost advantage,โ said Singh.
If successful, a cheaper light-weight motor can accelerate e-mobility, particularly in the two-wheeler segment, he said.
To diversify risks geographically, the company has additionally been making efforts to expand business in Europe and China. Most of its new EV orders in the past nine months have come from Europe. International business accounted for 79% of revenues in the quarter to June, led by North America, Europe and China.