BULK DEAL IN POWERGRID OF 50.10 LK @ 177.15 IN NSE
CMP 177.5 -1.5%

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On Lighter Note

Trump Or Biden jo bhi ae ITC ko koi hila k batae.

😂😂😂

*Visaka Industries Ltd.* | *CMP* Rs. 357 | *M Cap* Rs. 575 Cr | *52 W H/L* 387/94
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 226.2 Cr (-20.7% QoQ, -1% YoY) vs QoQ Rs. 285.2 Cr, YoY Rs. 228.4 Cr
EBIDTA came at Rs. 40.6 Cr (-30.4% QoQ, 122.3% YoY) vs QoQ Rs. 58.3 Cr, YoY Rs. 18.3 Cr
EBITDA Margin came at 17.9% vs QoQ 20.4%, YoY 8%
Adj. PAT came at Rs. 22.3 Cr vs QoQ Rs. 34.4 Cr, YoY Rs. 13.2 Cr
Quarter EPS is Rs. 13.9
Share is trading at P/E of 8.1x FY22E EPS

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*Jyothy Labs Ltd.* | *CMP* Rs. 133 | *M Cap* Rs. 4884 Cr | *52 W H/L* 185/85
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 504.5 Cr (16.5% QoQ, 6.2% YoY) vs expectation of Rs. 494.7 Cr, QoQ Rs. 432.9 Cr, YoY Rs. 474.9 Cr
EBIDTA came at Rs. 87.4 Cr (14.3% QoQ, 11.1% YoY) vs expectation of Rs. 85.7 Cr, QoQ Rs. 76.5 Cr, YoY Rs. 78.7 Cr
EBITDA Margin came at 17.3% vs expectation of 17.3%, QoQ 17.7%, YoY 16.6%
Adj. PAT came at Rs. 60.1 Cr vs expectation of Rs. 58.7 Cr, QoQ Rs. 52.3 Cr, YoY Rs. 55.7 Cr
Quarter EPS is Rs. 1.6
Share is trading at P/E of 21.6x FY22E EPS

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*Adani Enterprises Ltd.* | *CMP* Rs. 349 | *M Cap* Rs. 38383 Cr | *52 W H/L* 349/116
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 9126.4 Cr (73.3% QoQ, 7.8% YoY) vs QoQ Rs. 5265.2 Cr, YoY Rs. 8464.2 Cr
EBIDTA came at Rs. 751.2 Cr (630.3% QoQ, 68.7% YoY) vs QoQ Rs. 102.9 Cr, YoY Rs. 445.3 Cr
EBITDA Margin came at 8.2% vs QoQ 2%, YoY 5.3%
Adj. PAT came at Rs. 362.4 Cr vs QoQ Rs. 29.8 Cr, YoY Rs. 179.2 Cr
Quarter EPS is Rs. 3.3
Share is trading at P/E of 43.6x TTM EPS

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*Hikal Ltd.* | *CMP* Rs. 175 | *M Cap* Rs. 2158 Cr | *52 W H/L* 205/57
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 371.9 Cr (5.4% QoQ, 15.8% YoY) vs QoQ Rs. 352.8 Cr, YoY Rs. 321.1 Cr
EBIDTA came at Rs. 69.8 Cr (32.8% QoQ, 19.6% YoY) vs QoQ Rs. 52.5 Cr, YoY Rs. 58.4 Cr
EBITDA Margin came at 18.8% vs QoQ 14.9%, YoY 18.2%
Adj. PAT came at Rs. 27 Cr vs QoQ Rs. 15 Cr, YoY Rs. 21.8 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 22.8x TTM EPS

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*Garware Technical Fibres Ltd.* | *CMP* Rs. 1963 | *M Cap* Rs. 4299 Cr | *52 W H/L* 2250/873
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 268.3 Cr (76.1% QoQ, 15.4% YoY) vs QoQ Rs. 152.4 Cr, YoY Rs. 232.4 Cr
EBIDTA came at Rs. 57.3 Cr (220.5% QoQ, 39.2% YoY) vs QoQ Rs. 17.9 Cr, YoY Rs. 41.2 Cr
EBITDA Margin came at 21.4% vs QoQ 11.7%, YoY 17.7%
Adj. PAT came at Rs. 44.4 Cr vs QoQ Rs. 17.7 Cr, YoY Rs. 46.2 Cr
Quarter EPS is Rs. 20.3
Share is trading at P/E of 33.9x TTM EPS

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*Greenply Industries Ltd.* | *CMP* Rs. 79 | *M Cap* Rs. 969 Cr | *52 W H/L* 179/70
(Nirmal Bang Retail Research)
*Result is declining*
Revenue from Operations came at Rs. 295.5 Cr (122.7% QoQ, -22.3% YoY) vs QoQ Rs. 132.7 Cr, YoY Rs. 380.3 Cr
EBIDTA came at Rs. 32.3 Cr (-1240.9% QoQ, -27.9% YoY) vs QoQ Rs. -2.8 Cr, YoY Rs. 44.9 Cr
EBITDA Margin came at 10.9% vs QoQ -2.1%, YoY 11.8%
Adj. PAT came at Rs. 18.6 Cr vs QoQ Rs. -11.3 Cr, YoY Rs. 26.4 Cr
Quarter EPS is Rs. 1.5
Share is trading at P/E of 11.6x FY22E EPS

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*Sundram Fasteners Ltd.* | *CMP* Rs. 431 | *M Cap* Rs. 9055 Cr | *52 W H/L* 533/249
(Nirmal Bang Retail Research)
*Result ahead of expectation*
Revenue from Operations came at Rs. 766.9 Cr (177.1% QoQ, 0% YoY) vs expectation of Rs. 716.8 Cr, QoQ Rs. 276.7 Cr, YoY Rs. 766.8 Cr
EBIDTA came at Rs. 161 Cr (2909.5% QoQ, 16.7% YoY) vs expectation of Rs. 117.8 Cr, QoQ Rs. 5.4 Cr, YoY Rs. 138 Cr
EBITDA Margin came at 21% vs expectation of 16.4%, QoQ 1.9%, YoY 18%
Adj. PAT came at Rs. 97.4 Cr vs expectation of Rs. 52.2 Cr, QoQ Rs. -23.5 Cr, YoY Rs. 71.1 Cr
Quarter EPS is Rs. 4.6
Share is trading at P/E of 23x FY22E EPS

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*Praj Industries Ltd.* | *CMP* Rs. 74 | *M Cap* Rs. 1348 Cr | *52 W H/L* 130/43
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 260.2 Cr (100.9% QoQ, -11.5% YoY) vs QoQ Rs. 129.6 Cr, YoY Rs. 294.1 Cr
EBIDTA came at Rs. 17.5 Cr (-217.9% QoQ, 9.3% YoY) vs QoQ Rs. -14.9 Cr, YoY Rs. 16.1 Cr
EBITDA Margin came at 6.7% vs QoQ -11.5%, YoY 5.5%
Adj. PAT came at Rs. 11.4 Cr vs QoQ Rs. -10.5 Cr, YoY Rs. 16.1 Cr
PAT declined YoY due to lower other income and lower tax rate in base year
Quarter EPS is Rs. 0.6
Share is trading at P/E of 15.3x FY22E EPS

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*Balrampur Chini Mills Ltd.* | *CMP* Rs. 149 | *M Cap* Rs. 3129 Cr | *52 W H/L* 195/69
(Nirmal Bang Retail Research)
*Result is declining*
Revenue from Operations came at Rs. 1289.8 Cr (-9.8% QoQ, 50.5% YoY) vs QoQ Rs. 1430.3 Cr, YoY Rs. 857 Cr
EBIDTA came at Rs. 127.7 Cr (-41.3% QoQ, -17.3% YoY) vs QoQ Rs. 217.5 Cr, YoY Rs. 154.6 Cr
EBITDA Margin came at 9.9% vs QoQ 15.2%, YoY 18%
Adj. PAT came at Rs. 78.3 Cr vs QoQ Rs. 139.1 Cr, YoY Rs. 99.8 Cr
Quarter EPS is Rs. 3.7
Share is trading at P/E of 4.7x FY22E EPS

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Huge resistence in nifty around 12350-12650, expecting good corrections to come from these levels.

*JK Lakshmi Cement Ltd.* | *CMP* Rs. 290 | *M Cap* Rs. 3416 Cr | *52 W H/L* 389/180
(Nirmal Bang Retail Research)
*Result above expectation*
Revenue from Operations came at Rs. 1044.8 Cr (26.6% QoQ, 11.7% YoY) vs expectation of Rs. 911.3 Cr, QoQ Rs. 825.2 Cr, YoY Rs. 935.5 Cr
volume for the quarter stood at 2.4mnt up by 24% and 16% on qoq and yoy basis res
the realisation during the quarter improved to Rs 4381/t up by 1.3% qoq but down by 3.5% yoy
EBIDTA came at Rs. 186.7 Cr (30.3% QoQ, 25.6% YoY) vs expectation of Rs. 146.8 Cr, QoQ Rs. 143.3 Cr, YoY Rs. 148.7 Cr
EBITDA/T for the quarter showed a sharp improvement of 4.3% qoq to Rs 782/t and as against Rs 721/t yoy, mainly led by improve efficiencies, lower Logistic cost and softening of pet coke prices
EBITDA Margin came at 17.9% vs expectation of 16.1%, QoQ 17.4%, YoY 15.9%
Adj. PAT came at Rs. 80.6 Cr vs expectation of Rs. 46.7 Cr, QoQ Rs. 44.4 Cr, YoY Rs. 45.9 Cr
Quarter EPS is Rs. 6.8
Share is trading at P/E of 11.5x FY22E EPS

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*Gati ltd.* | *CMP* Rs. 61 | *M Cap* Rs. 744 Cr | *52 W H/L* 75/32
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 342.5 Cr (108.5% QoQ, -22.1% YoY) vs QoQ Rs. 164.3 Cr, YoY Rs. 439.7 Cr
EBIDTA came at Rs. 20.6 Cr (-178.4% QoQ, 14.8% YoY) vs QoQ Rs. -26.3 Cr, YoY Rs. 18 Cr
EBITDA Margin came at 6% vs QoQ -16%, YoY 4.1%
Adj. PAT came at Rs. 0.5 Cr vs QoQ Rs. -26.9 Cr, YoY Rs. -11.1 Cr
Quarter EPS is Rs. 0
Share is trading at P/E of -7.9x TTM EPS

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GM jsk stock in news srf,usl,sumitomo,thermax,hpcl,tanfek,pel,pnb,ril, ioc,indocorem, BPCL, godrejagro,ufo,pvr. Negative stocks happiest, jubiliantlife,indigo,spicejet. Nifty range 11750-12100.

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*Entertainment Network (India) Ltd.* | *CMP* Rs. 142 | *M Cap* Rs. 677 Cr | *52 W H/L* 284/98
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 48.4 Cr (25.8% QoQ, -58.1% YoY) vs expectation of Rs. 49.6 Cr, QoQ Rs. 38.5 Cr, YoY Rs. 115.6 Cr
EBIDTA came at Rs. -6.3 Cr (-75.6% QoQ, -122.6% YoY) vs expectation of Rs. -14.4 Cr, QoQ Rs. -25.9 Cr, YoY Rs. 28 Cr
EBITDA Margin came at -13.1% vs expectation of -29.1%, QoQ -67.4%, YoY 24.2%
Adj. PAT came at Rs. -24.8 Cr vs expectation of Rs. -36.3 Cr, QoQ Rs. -37.9 Cr, YoY Rs. 0.2 Cr
Quarter EPS is Rs. -5.2
Share is trading at P/E of 30.4x FY22E EPS

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*State Bank of India Q2FY21 Concall Update*
(Nirmal Bang Retail Research)

*Limited impact of covid on Asset Quality*
*Strong rebound in retail disbursements is encouraging*

*Outlook: Positive in long term*

• Advances growth was flat QoQ and 6% YoY and stood at Rs. 23.84 Lac Cr. Retail advances grew 15% YoY while corporate grew by 3% YoY.
• *Disbursements during Q2FY21 are higher YoY across most retail products.* Disbursement growth for the September month (YoY) for Home/Auto/Personal was at 12%/27%/61%.
• Deposits registered a healthy growth of 14% YoY. CASA has been stable at 45% since a few qtrs now.
• Domestic NIM for the quarter at 3.34% has increased by 12 bps YoY and 10 bps QoQ. This led to NII growth of 15%. Non-interest income was flat leading to total income growth of 11%.
• Opex grew by 10% YoY leading to PPP growth of 12% YoY.
• *Collection efficiency in domestic loan book (excl. Agri Segment) stands at 97%. (improved to 97.5% in October)*
• Slippage for the qtr was at Rs. 3,085 Cr & for H1 at Rs. 6,995 Cr. If not for the Supreme court standstill on asset classification, slippages would have been higher in H1 by Rs. 14,388 Cr. Beyond this, the bank also expects additional slippages of Rs. 20,000 Cr in H2FY21. (This essentially translates to Rs. 10,000 Cr per qtr which has been the trend previously as well)
• Bank has received restructuring requests worth Rs. 6,495 Cr in October and expects to receive requests for further Rs. 13,000 Cr by Dec qtr.
• *Thus the total stress in book (expected slippages + resturing) translates to Rs. 60,000 Cr or 2.5% of AUM. Bank has indicated it will create a 15% provision on these loans. This translates to Rs. 9,000 Cr credit cost out of which bank already holds cumulative covid provisions of Rs. 7,091 Cr. Thus we expect credit cost to remain at around 1.6-1.7% which the management had indicated as steady state run-rate during the previous qtr.*
• Credit cost for the qtr was at 1.7% vs QoQ 2.1% and YoY 2.3%.
• GNPA came at 5.3% vs QoQ 5.4%. Calculated PCR increased to 71% vs QoQ 67% & YoY 63%. NNPA reduced to 1.6% vs QoQ 1.9%.
• Corporate GNPAs carry a reported PCR of 88%, so legacy book is taken care of.
• Bank is expecting normal recovery of Rs. 6-7,000 Cr on top of another Rs. 10-11,000 Cr in next 2 qtrs from a steel and housing finance accounts. Bank has already provided these accounts entirely.

Share is trading at P/E of 8.7x FY22E EPS & 0.5x trailing P/Adj. BV (adj. for subsidiaries value)

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*Jindal Stainless (Hisar) Ltd.* | *CMP* Rs. 95 | *M Cap* Rs. 2236 Cr | *52 W H/L* 110/30
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 2298.5 Cr (169.6% QoQ, 1% YoY) vs QoQ Rs. 852.4 Cr, YoY Rs. 2276.5 Cr
Sales volumes grew by 9% to 155,470 tonnes in Q2FY21 against 143,139 tonnes in yoy.
EBIDTA came at Rs. 291.3 Cr (580.7% QoQ, 8.7% YoY) vs QoQ Rs. 42.8 Cr, YoY Rs. 268.1 Cr
EBITDA Margin came at 12.7% vs QoQ 5%, YoY 11.8%
Adj. PAT came at Rs. 168.6 Cr vs QoQ Rs. -98.3 Cr, YoY Rs. 98.7 Cr
Quarter EPS is Rs. 7.1
Share is trading at P/E of 7.6x FY22E EPS

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*Force Motors Oct'20 Sales – Declined*
(Nirmal Bang Retail Research)
Total Sales came at 1896 vs YoY 2226 units (-14.8%) and MoM 1636 units (15.9%)

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Economic Times

 

Business Standard

Ø  Economy to reach pre-pandemic levels by year-end: Finance Ministry

Ø  Government issues ordinance to amend arbitration law

Ø  Indian realty's institutional fund inflow in 2020 seen at $4.8 bn

Ø  Commercial vehicle volumes to contract 25-28% in FY21, outlook remains negative: Icra

Ø  Suspecting fraud, taxmen block input tax credit of several companies for a year

Ø  Amazon India inks MoU with Silk Mark Organisation of India

 

Ø  Oct services activity at 54.1, grows for first time in 8 months: PMI

Ø  India expects $3.4 billion FDI in data center infrastructure: Anuj Puri

Ø  Sebi issues guidelines for rights issue by unlisted InvITs to raise funds

Ø  Saudi Arabia to remove curbs on foreign workers to attract overseas talent

Ø  Reliance Jio officials depose before parliamentary panel on data security

Ø  HPCL sees two-fold jump in net profit in Q2, okays Rs 2,500-cr buyback

Business Line

 

Mint

Ø  Gold recycling hits 8-year-high on record prices

Ø  APSEZ seeks cessation of coal terminal deal at Vizag Port Trust

Ø  Apollo Tyres Q2 net profit more than doubles to ₹200 crore

Ø  Future Retail raises ₹350-cr loans

Ø  United Spirits Q2 net profit down 21% at Rs 125 crore

Ø  Led by GenNext, Sundram Fasteners eyes buyouts in defence, EV segments

 

Ø  US export jump narrows Sept trade gap to $63.9 billion: Govt

Ø  ED files first chargesheet against Kochhars in ICICI Bank quid-pro quo case

Ø  EuroPacific Growth Fund sells 1.27% stake in Adani Ports for ₹907 crore

Ø  IPO bound Gland Pharma eyes China, Africa market entry

Ø  Adani Enterprises plans ₹50,000 crore capex over 5 years

Ø  SBI net profit grows 52% in September quarter as retail loans shine

Financial Express

 

Deccan Chronicle

Ø  Euro zone economy on track for double-dip recession

Ø  Commercial coal mining: Jindal Power wins block in Chhattisgarh on 3rd day of auction

Ø  CAIT accuses Amazon of violating FEMA norms

 

Ø  Control of US Senate at stake as Donald Trump's allies face Democrats

Ø  Hospitality industry sees signs of revival in September

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