Margin reporting penalty will not be debited to client except Cheque return as per new exchange circular released today. We will examine and discuss all possible changes need to implement in our system to avoid shortfall result into penalty as now it would be debited to broker only.
Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic & Potassic (P&K) Fertilisers for the year 2021-22 (from 1st October, 2021 to 31st March, 2022)
Net subsidy of Rs.28,655 crore for Rabi 2021-22
(i) Total amount of Rollover will be Rs. 28,602 crore.
(ii) Special one-time package for additional subsidy on DAP at the tentative additional cost of Rs. 5,716 crore.
iii) Special one-time package for additional subsidy on three most consumed NPKs gradesviz. NPK 10-26-26, NPK 20-20-0-13 and NPK 12-32-16 at the tentative cost of Rs. 837crore. Total subsidy required will be 35,115 crore.
The CCEA also approved the inclusion of Potash derived from Molasses (0:0:14.5:0) underthe NBSScheme.
Net subsidy of Rs.28,655 crore for Rabi 2021-22
(i) Total amount of Rollover will be Rs. 28,602 crore.
(ii) Special one-time package for additional subsidy on DAP at the tentative additional cost of Rs. 5,716 crore.
iii) Special one-time package for additional subsidy on three most consumed NPKs gradesviz. NPK 10-26-26, NPK 20-20-0-13 and NPK 12-32-16 at the tentative cost of Rs. 837crore. Total subsidy required will be 35,115 crore.
The CCEA also approved the inclusion of Potash derived from Molasses (0:0:14.5:0) underthe NBSScheme.
Current price of Tata motors ADR is 31.55 dollars
1 ADR consists of 5 shares of Tata motors
So 31.55 $ * 75.5 INR is 2382 Rs.
So for value of 1 share of Tata motors in INR is 2382 divide by 5 is 476.4 Rs.
So Expecting 10% UC GAP UP TOMORROW.. Fwd
1 ADR consists of 5 shares of Tata motors
So 31.55 $ * 75.5 INR is 2382 Rs.
So for value of 1 share of Tata motors in INR is 2382 divide by 5 is 476.4 Rs.
So Expecting 10% UC GAP UP TOMORROW.. Fwd
*Bhansali Engineering Polymers Ltd.* | *CMP* Rs. 204 | *M Cap* Rs. 3384 Cr | *52 W H/L* 210/77
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 374.8 Cr (61.6% QoQ, 21.8% YoY) vs QoQ Rs. 231.9 Cr, YoY Rs. 307.9 Cr
EBIDTA came at Rs. 163.6 Cr (62.2% QoQ, 253.2% YoY) vs QoQ Rs. 100.8 Cr, YoY Rs. 46.3 Cr
EBITDA Margin came at 43.7% vs QoQ 43.5%, YoY 15%
Adj. PAT came at Rs. 123.7 Cr vs QoQ Rs. 77.4 Cr, YoY Rs. 35.5 Cr
Quarter EPS is Rs. 7.5
Share is trading at P/E of 6.8x TTM EPS
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 374.8 Cr (61.6% QoQ, 21.8% YoY) vs QoQ Rs. 231.9 Cr, YoY Rs. 307.9 Cr
EBIDTA came at Rs. 163.6 Cr (62.2% QoQ, 253.2% YoY) vs QoQ Rs. 100.8 Cr, YoY Rs. 46.3 Cr
EBITDA Margin came at 43.7% vs QoQ 43.5%, YoY 15%
Adj. PAT came at Rs. 123.7 Cr vs QoQ Rs. 77.4 Cr, YoY Rs. 35.5 Cr
Quarter EPS is Rs. 7.5
Share is trading at P/E of 6.8x TTM EPS
*Tata Motors Concall Update on stake sale cum future plans of the EV Business*
_*Focused investments in EV business is encouraging*_
*Outlook: Positive*
• The board of TAMO has approved incorporation of a subsidiary TML EVCo to undertake its passenger electric mobility business.
• TPG Rise Climate along with co-investors shall invest Rs 7,500 Cr in compulsory convertible preference shares to secure between 11 % to 15 % stake in this company translating to an equity valuation of up to $9.1 bn.
• 50% of the amount would be given by March 2022 and the remaining by Dec 2022.
• Co plans to invest a total of more than Rs. 16,000 Cr over next 5 years in products, platforms, drive trains, dedicated EV manufacturing, charging infrastructure and advanced technologies.
• Over the next 5 years, this company will create a portfolio of 10 EVs and in association with Tata Power Ltd, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India.
• The new co will remain asset light; and the old PV co will act as a toll manufacturer for the EV co as well as continue to sell traditional PVs.
• Existing brands, IPs, network would remain with the traditional co and the EV co would be charged royalty on arms length basis. Fresh EV brands, IPs produced by the EV co shall rest with the EV co.
• PV EV Industry achieved sales of 5910 EV units in FY21 and is on track to sell 15-16k units in FY22 (YoY Growth of 2.5x). Industry is expected to increase share of EVs to double digits over the next 5 years.
• TAMO plans to increase its EV share in total PV sales to 20% over the next 5 years.
• TAMO already has 71% EV market share in FY21 (from 18% in FY19).
• Tata Nexon is the No. 1 selling EV in India.
*Growth drivers for EV Industry –*
• Favorable Govt policies – FAME II
• Increase in ICE vehicle prices post BSVI
• Steep increase in fuel prices leading to higher running cost for ICEs
• Positive word of mouth through existing customers
Stock is trading at 12x FY23E EPS
_*Focused investments in EV business is encouraging*_
*Outlook: Positive*
• The board of TAMO has approved incorporation of a subsidiary TML EVCo to undertake its passenger electric mobility business.
• TPG Rise Climate along with co-investors shall invest Rs 7,500 Cr in compulsory convertible preference shares to secure between 11 % to 15 % stake in this company translating to an equity valuation of up to $9.1 bn.
• 50% of the amount would be given by March 2022 and the remaining by Dec 2022.
• Co plans to invest a total of more than Rs. 16,000 Cr over next 5 years in products, platforms, drive trains, dedicated EV manufacturing, charging infrastructure and advanced technologies.
• Over the next 5 years, this company will create a portfolio of 10 EVs and in association with Tata Power Ltd, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India.
• The new co will remain asset light; and the old PV co will act as a toll manufacturer for the EV co as well as continue to sell traditional PVs.
• Existing brands, IPs, network would remain with the traditional co and the EV co would be charged royalty on arms length basis. Fresh EV brands, IPs produced by the EV co shall rest with the EV co.
• PV EV Industry achieved sales of 5910 EV units in FY21 and is on track to sell 15-16k units in FY22 (YoY Growth of 2.5x). Industry is expected to increase share of EVs to double digits over the next 5 years.
• TAMO plans to increase its EV share in total PV sales to 20% over the next 5 years.
• TAMO already has 71% EV market share in FY21 (from 18% in FY19).
• Tata Nexon is the No. 1 selling EV in India.
*Growth drivers for EV Industry –*
• Favorable Govt policies – FAME II
• Increase in ICE vehicle prices post BSVI
• Steep increase in fuel prices leading to higher running cost for ICEs
• Positive word of mouth through existing customers
Stock is trading at 12x FY23E EPS