BUDGET: 3 Rail Connectivity corridors under PM GATI SHAKTI PLAN
BUDGET: Number of Airports doubled to 149 in last 10 years
BUDGET: To expand Metro Rail, Namo Bharat to more cities
BUDGET: Number of Airports doubled to 149 in last 10 years
BUDGET: To expand Metro Rail, Namo Bharat to more cities
BUDGET: FDI inflows during 2014-23, $596 bln, double of 2005 - 14
BUDGET: Take up projects for tourism infra in islands like Lakshadweep
BUDGET: Take up projects for tourism infra in islands like Lakshadweep
BUDGET: To continue interest - free capex loan to states FY25, loans at 1.3 lakh Cr Rs
BUDGET: Committed to cut fiscal deficit to 4.5% by FY26
BUDGET: Committed to cut fiscal deficit to 4.5% by FY26
BUDGET: Average GST collections doubled to 1.66 lakh Cr Rs
BUDGET: No changes in taxation
BUDGET: Don not propose any tax changes for FY25
BUDGET: No changes in taxation
BUDGET: Don not propose any tax changes for FY25
BUDGET: To extend certain tax benefits to sovereign funds, start - ups to March 2025
BUDGET: Withdraws pre-FY10 disputed tax demand of up to 25,000 Rs, will benefit 1 Cr taxpayers from old tax demand withdrawal.
BUDGET: Withdraws GY10-15 disputed tax demand of up to 10,000 Rs
BUDGET: To lay white paper on lessons from mismanagement before 2014
BUDGET: Withdraws GY10-15 disputed tax demand of up to 10,000 Rs
BUDGET: To lay white paper on lessons from mismanagement before 2014
Stocks to Watch
Hero MotoCorp:
Recorded total sales of 4,33,598 units in January, up 21.6% from a year ago. Domestic sales increased 20.5% to 4.2 lakh units and exports jumped 74.6% to 12,664 units.
Paytm:
Management said during an analyst call that the RBI's actions were a big speed bump and that operational changes would be required. The stock hit the 20% lower circuit soon after the market opened on Thursday.
Indian Hotels:
Net profit was up 18.2% to ₹476.9 crore in Q3 from a year ago, revenue up 16.5%. Ebitda increased 22.6% yoy, while margin was 37.3% from 35.4% last year. Revenue for the quarter was led by 21% growth in room revenue. International RevPAR growth of 9% yoy due to 70% occupancy levels.
Abbott India:
Posted 26% growth in net profit to ₹311 crore for the December quarter. Revenue from operations grew 8.7% to ₹1,437 crore from a year ago.
Mphasis:
Direct revenue up 2% sequentially and up 1.3% in constant currency terms. New deal wins worth $241 million. Management said it was seeing signs of stability despite seasonal softness in the quarter.
Eicher Motors:
Flagship brand Royal Enfield sold 76,187 motorcycles in January, up 2% from 74,746 units a year ago. However, exports sales dropped 20% to 5,631 motorcycles.
Panacea Biotec:
The USFDA has classified the inspection of the facility of the company's subsidiary Panacea Biotec Pharma in Baddi, Himachal Pradesh, as ‘official action indicated’.
Sonata Software:
Clocked a net loss of ₹46.2 crore for the December quarter against a profit of ₹124.2 crore in the previous quarter. Consolidated revenue from operations grew 30.4% sequentially to ₹2,493.3 crore in the quarter
Bata India:
Recorded a net profit at ₹57.3 crore in the December quarter, down 31% from a year ago, thanks to a tepid topline and weak operating numbers. Revenue from operations grew 0.4% yoy to ₹903.5 crore.
Hero MotoCorp:
Recorded total sales of 4,33,598 units in January, up 21.6% from a year ago. Domestic sales increased 20.5% to 4.2 lakh units and exports jumped 74.6% to 12,664 units.
Paytm:
Management said during an analyst call that the RBI's actions were a big speed bump and that operational changes would be required. The stock hit the 20% lower circuit soon after the market opened on Thursday.
Indian Hotels:
Net profit was up 18.2% to ₹476.9 crore in Q3 from a year ago, revenue up 16.5%. Ebitda increased 22.6% yoy, while margin was 37.3% from 35.4% last year. Revenue for the quarter was led by 21% growth in room revenue. International RevPAR growth of 9% yoy due to 70% occupancy levels.
Abbott India:
Posted 26% growth in net profit to ₹311 crore for the December quarter. Revenue from operations grew 8.7% to ₹1,437 crore from a year ago.
Mphasis:
Direct revenue up 2% sequentially and up 1.3% in constant currency terms. New deal wins worth $241 million. Management said it was seeing signs of stability despite seasonal softness in the quarter.
Eicher Motors:
Flagship brand Royal Enfield sold 76,187 motorcycles in January, up 2% from 74,746 units a year ago. However, exports sales dropped 20% to 5,631 motorcycles.
Panacea Biotec:
The USFDA has classified the inspection of the facility of the company's subsidiary Panacea Biotec Pharma in Baddi, Himachal Pradesh, as ‘official action indicated’.
Sonata Software:
Clocked a net loss of ₹46.2 crore for the December quarter against a profit of ₹124.2 crore in the previous quarter. Consolidated revenue from operations grew 30.4% sequentially to ₹2,493.3 crore in the quarter
Bata India:
Recorded a net profit at ₹57.3 crore in the December quarter, down 31% from a year ago, thanks to a tepid topline and weak operating numbers. Revenue from operations grew 0.4% yoy to ₹903.5 crore.
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STOCKS TO WATCH
Bajaj Finance: The non-banking financial company will acquire a 7% stake on a fully diluted basis in RMBS Development Co. for an undisclosed amount.
Aurobindo Pharma: The USFDA inspected the company's unit in Telangana and closed with nine inspections. The company temporarily stopped manufacturing on certain lines.
India Cements: The Enforcement Directorate searched the company's Chennai office and was looking into certain forex transactions done by associate company India Cements Capital.
H.G. Infra Engineering: The company received a letter of acceptance from the Central Railway for a Rs 716 crore construction project.
Mahindra and Mahindra Financial Services: The company reported disbursement at Rs 4,440
crore, up 11% YoY, and collection efficiency at 95%.
Cochin Shipyard: The company received a contract worth Rs 150 crore from the Indian Navy for medium refits of two vessels.
Torrent Pharmaceuticals: Sudhir Mehta will step down as director and continue to be the chairman emeritus, effective April 1.
Atul: The company completed capacity expansion at the DCDPS plant and approved an investment of Rs 99.5 crore for expansion.
Torrent Power: The company will set up 150 MW of solar power projects at four of Shapoorji's desalination plants.
India Glycols: The company expanded the capacity of the grain-based distillery plant in Gorakhpur to 290 KLPD from 110 KLPD.
Air India: has taken the delivery of its second Airbus A350 aircraft
Bajaj Finance: The non-banking financial company will acquire a 7% stake on a fully diluted basis in RMBS Development Co. for an undisclosed amount.
Aurobindo Pharma: The USFDA inspected the company's unit in Telangana and closed with nine inspections. The company temporarily stopped manufacturing on certain lines.
India Cements: The Enforcement Directorate searched the company's Chennai office and was looking into certain forex transactions done by associate company India Cements Capital.
H.G. Infra Engineering: The company received a letter of acceptance from the Central Railway for a Rs 716 crore construction project.
Mahindra and Mahindra Financial Services: The company reported disbursement at Rs 4,440
crore, up 11% YoY, and collection efficiency at 95%.
Cochin Shipyard: The company received a contract worth Rs 150 crore from the Indian Navy for medium refits of two vessels.
Torrent Pharmaceuticals: Sudhir Mehta will step down as director and continue to be the chairman emeritus, effective April 1.
Atul: The company completed capacity expansion at the DCDPS plant and approved an investment of Rs 99.5 crore for expansion.
Torrent Power: The company will set up 150 MW of solar power projects at four of Shapoorji's desalination plants.
India Glycols: The company expanded the capacity of the grain-based distillery plant in Gorakhpur to 290 KLPD from 110 KLPD.
Air India: has taken the delivery of its second Airbus A350 aircraft
📢 Breaking News: India aims for a 10% share in 6G technology patents through collaborative efforts, led by the Government of India (GOI).
🗼16 companies serving the telecom industry through equipment and infrastructure services
🔹Indus Towers
🔹ITI Ltd
🔹Tejas Networks Ltd
🔹ADC India Communications
🔹Avantel Ltd
🔹Sterlite Technologies
🔹Cords Cable Industries
🔹Birla Cable
🔹Kore Digital
🔹Frog Cellsat
🔹Vindhya Telelinks
🔹HFCL Ltd
🔹Bondada Engineering
🔹Sar Televenture
🔹Railtel Corporation of India
🔹NELCO Ltd
🗼16 companies serving the telecom industry through equipment and infrastructure services
🔹Indus Towers
🔹ITI Ltd
🔹Tejas Networks Ltd
🔹ADC India Communications
🔹Avantel Ltd
🔹Sterlite Technologies
🔹Cords Cable Industries
🔹Birla Cable
🔹Kore Digital
🔹Frog Cellsat
🔹Vindhya Telelinks
🔹HFCL Ltd
🔹Bondada Engineering
🔹Sar Televenture
🔹Railtel Corporation of India
🔹NELCO Ltd
STOCKS IN ACTION
Telecom Stocks: The Union Cabinet announced its approval for a 10,523 MHz spectrum auction this fiscal year, with a reserve price of Rs 96,317 crore. The auction will be held for spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz frequency bands, with a validity period of 20 years. (Reliance Industries, Bharti Airtel, and Vodafone Idea will be in focus.)
One 97 Communications: Payt Payments Bank board member Manju Agarwal has resigned from the company, people with knowledge of the matter told NDTV Profit. Agarwal, who served on the board as an independent director, resigned with effect from Feb. 1 this year.
Zee Entertainment Enterprise: The market regulator, in an interim order, has asked several guest experts on Zee Business to repay Rs 7.41 crore in alleged unlawful gains made by taking positions opposite to their on-air advice.
Bharat Heavy Electricals: The company received an order worth Rs 5,500 crore from Haryana
Power Generation Corp. for up to a 1×800 MW ultra-supercritical expansion unit in Haryana.
TVS Supply Chain Solutions: The company signed a settlement agreement in relation to certain disputes. TVS Australia will make aggregate payments amounting to $6 million.
Trident: The company granted a patent for a soft-profiled terry fabric with an improved loop configuration.
Sequent Scientific: The company proposed the sale of land measuring 7,481 square metres for
Rs 7.82 crore.
Balmer Lawrie: The company will establish a 200 kilo liters per day first-generation grain-based
ethanol plant in Andhra Pradesh.
IRCTC: The company signed a Memorandum of Understanding with the Uttarakhand government to operate tourist trains in the state.
Dynamatic Technologies: The company was awarded a large order from Europe-based multinational company Airbus to manufacture and assemble doors for Airbus' A220 family of aircraft.
Signatureglobal (India): The company entered into a joint development agreement for 20.32 acres located in Gurugram. The land has an overall potential developable area of approximately
2.84 million square feet.
BHEL: gets Rs 5,500 crore order from HPGCL for setting up 1x800 MW ultra super critical expansion unit.
Telecom Stocks: The Union Cabinet announced its approval for a 10,523 MHz spectrum auction this fiscal year, with a reserve price of Rs 96,317 crore. The auction will be held for spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz frequency bands, with a validity period of 20 years. (Reliance Industries, Bharti Airtel, and Vodafone Idea will be in focus.)
One 97 Communications: Payt Payments Bank board member Manju Agarwal has resigned from the company, people with knowledge of the matter told NDTV Profit. Agarwal, who served on the board as an independent director, resigned with effect from Feb. 1 this year.
Zee Entertainment Enterprise: The market regulator, in an interim order, has asked several guest experts on Zee Business to repay Rs 7.41 crore in alleged unlawful gains made by taking positions opposite to their on-air advice.
Bharat Heavy Electricals: The company received an order worth Rs 5,500 crore from Haryana
Power Generation Corp. for up to a 1×800 MW ultra-supercritical expansion unit in Haryana.
TVS Supply Chain Solutions: The company signed a settlement agreement in relation to certain disputes. TVS Australia will make aggregate payments amounting to $6 million.
Trident: The company granted a patent for a soft-profiled terry fabric with an improved loop configuration.
Sequent Scientific: The company proposed the sale of land measuring 7,481 square metres for
Rs 7.82 crore.
Balmer Lawrie: The company will establish a 200 kilo liters per day first-generation grain-based
ethanol plant in Andhra Pradesh.
IRCTC: The company signed a Memorandum of Understanding with the Uttarakhand government to operate tourist trains in the state.
Dynamatic Technologies: The company was awarded a large order from Europe-based multinational company Airbus to manufacture and assemble doors for Airbus' A220 family of aircraft.
Signatureglobal (India): The company entered into a joint development agreement for 20.32 acres located in Gurugram. The land has an overall potential developable area of approximately
2.84 million square feet.
BHEL: gets Rs 5,500 crore order from HPGCL for setting up 1x800 MW ultra super critical expansion unit.
Stocks to Watch
Infosys:
Recovering from the loss of a billion-dollar deal in December, Infosys has kicked off 2024 with momentum, securing two significant contracts. The most recent is a $300 million contract with Singapore-based Pacific International Lines running until 2027, according to industry executives. The Singapore deal marks Infosys's second significant multi-year contract announcement within a month, following a seven-year agreement with Irish food retailer Musgrave on 31 January to automate its IT functions using AI and cloud solutions. For the December-ended quarter, Infosys announced large deal total contract value of $3.2 billion in Q3FY24, a decline from $7.7 billion in 2QFY24. This includes a net new of 71%.
Coal India:
The state-run company on Thursday signed a memorandum of understanding (MoU) with Haryana Power Purchase Centre for supply of 800 megawatt (MW) of electricity from Mahanadi Basin Power Ltd. This agreement lays the foundation for a future power purchase agreement, and will help Haryana meet its rising energy demand, Coal India said in a statement.
Vedanta:
Promoters of mining and resources major Vedanta offloaded a 1.76% stake in the company for ₹1,737 crore on Thursday through a bulk deal on BSE, data shows. The stake was sold by Finsider International Co. Ltd, a promoter entity, for a weighted average price of ₹265.14 per share. This translates to a discount of 5% over Wednesday’s closing price. Vedanta shares closed 4% lower on BSE on Thursday at ₹268 apiece.
NBCC:
The state-owned construction firm expects to meet its revenue target of ₹10,000 crore in FY24 riding on its strong performance in the third quarter of the current financial year, its Chairman and MD, KP Mahadevaswamy, said to CNBC-TV18 on Thursday. According to Mahadevaswamy, the public sector undertaking is well positioned to meet its revenue target and it may further extend to ₹13,000 crore in the next financial year. NBCC reported ₹2,412.6 crore in revenue in Q3FY24, up 13% from the year-ago period. Its net profit swelled 58.9% to ₹113.16 crore in the December quarter year-on-year.
Axis Bank:
Senior BJP leader Subramanian Swamy on Thursday moved the Delhi High Court alleging a scam of nearly ₹5,100 crore in the way Axis Bank sold and purchased shares of insurer Max Life Insurance Company. Max Life is a joint venture between Max Financial Services and private lender Axis Bank. On 6 February, the Insurance Regulatory and Development Authority of India (Irdai) approved Axis Bank’s proposal to purchase another 7% in Max Life for ₹1,612 crore. After this, the Axis group entities will collectively own 19.02% of the insurer, up from less than 13% currently.
Yes Bank:
Global investment firm The Carlyle Group on Thursday sold a 1.3% stake, amounting to 39 crore shares, in the private sector lender for ₹1,057 crore through an open market transaction on BSE. According to the bulk deal data available on BSE, the shares were disposed of at an average price of ₹27.10 apiece. Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 30.63 crore equity shares, representing a 1.06% stake in Yes Bank. The shares were purchased at the same price, taking the deal size to ₹830.08 crore.
HDFC Bank:
The private bank plans to launch the Home Saver product in April and Home Refurbishment loans in the coming months, said a senior bank official on Thursday. The Home Saver product is like an overdraft facility and will directly compete with the State Bank of India’s Maxgain home loan scheme. HDFC Ltd offered a Home Refurbishment loan before its merger with HDFC Bank, and it will be relaunched soon
Infosys:
Recovering from the loss of a billion-dollar deal in December, Infosys has kicked off 2024 with momentum, securing two significant contracts. The most recent is a $300 million contract with Singapore-based Pacific International Lines running until 2027, according to industry executives. The Singapore deal marks Infosys's second significant multi-year contract announcement within a month, following a seven-year agreement with Irish food retailer Musgrave on 31 January to automate its IT functions using AI and cloud solutions. For the December-ended quarter, Infosys announced large deal total contract value of $3.2 billion in Q3FY24, a decline from $7.7 billion in 2QFY24. This includes a net new of 71%.
Coal India:
The state-run company on Thursday signed a memorandum of understanding (MoU) with Haryana Power Purchase Centre for supply of 800 megawatt (MW) of electricity from Mahanadi Basin Power Ltd. This agreement lays the foundation for a future power purchase agreement, and will help Haryana meet its rising energy demand, Coal India said in a statement.
Vedanta:
Promoters of mining and resources major Vedanta offloaded a 1.76% stake in the company for ₹1,737 crore on Thursday through a bulk deal on BSE, data shows. The stake was sold by Finsider International Co. Ltd, a promoter entity, for a weighted average price of ₹265.14 per share. This translates to a discount of 5% over Wednesday’s closing price. Vedanta shares closed 4% lower on BSE on Thursday at ₹268 apiece.
NBCC:
The state-owned construction firm expects to meet its revenue target of ₹10,000 crore in FY24 riding on its strong performance in the third quarter of the current financial year, its Chairman and MD, KP Mahadevaswamy, said to CNBC-TV18 on Thursday. According to Mahadevaswamy, the public sector undertaking is well positioned to meet its revenue target and it may further extend to ₹13,000 crore in the next financial year. NBCC reported ₹2,412.6 crore in revenue in Q3FY24, up 13% from the year-ago period. Its net profit swelled 58.9% to ₹113.16 crore in the December quarter year-on-year.
Axis Bank:
Senior BJP leader Subramanian Swamy on Thursday moved the Delhi High Court alleging a scam of nearly ₹5,100 crore in the way Axis Bank sold and purchased shares of insurer Max Life Insurance Company. Max Life is a joint venture between Max Financial Services and private lender Axis Bank. On 6 February, the Insurance Regulatory and Development Authority of India (Irdai) approved Axis Bank’s proposal to purchase another 7% in Max Life for ₹1,612 crore. After this, the Axis group entities will collectively own 19.02% of the insurer, up from less than 13% currently.
Yes Bank:
Global investment firm The Carlyle Group on Thursday sold a 1.3% stake, amounting to 39 crore shares, in the private sector lender for ₹1,057 crore through an open market transaction on BSE. According to the bulk deal data available on BSE, the shares were disposed of at an average price of ₹27.10 apiece. Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 30.63 crore equity shares, representing a 1.06% stake in Yes Bank. The shares were purchased at the same price, taking the deal size to ₹830.08 crore.
HDFC Bank:
The private bank plans to launch the Home Saver product in April and Home Refurbishment loans in the coming months, said a senior bank official on Thursday. The Home Saver product is like an overdraft facility and will directly compete with the State Bank of India’s Maxgain home loan scheme. HDFC Ltd offered a Home Refurbishment loan before its merger with HDFC Bank, and it will be relaunched soon
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#HDFCBank in 3 Years: -10%
#KotakMahindra in 3 Years: -10%
Meanwhile
#Banknifty +24%
#SBI +83%
#Icicibank +64%
#AxisBank +44%
#IndusindBank +38%
#IDFCFirstBank +27%
J&K Bank +360%
#UCO +320%
#SouthIndian +280%
#IOB +272%
#IndianBank +270%
#CanaraBank +250%
#PSB +225%
#DhanlakshmiBank +210%
#CentralBank +200%
#PNB +192%
#BankOfBaroda +190%
#BankOfMah 160%
#FederalBank +75%
#BankOfIndia +62%
#DCBBank +16%
🤔🤔🤔
#KotakMahindra in 3 Years: -10%
Meanwhile
#Banknifty +24%
#SBI +83%
#Icicibank +64%
#AxisBank +44%
#IndusindBank +38%
#IDFCFirstBank +27%
J&K Bank +360%
#UCO +320%
#SouthIndian +280%
#IOB +272%
#IndianBank +270%
#CanaraBank +250%
#PSB +225%
#DhanlakshmiBank +210%
#CentralBank +200%
#PNB +192%
#BankOfBaroda +190%
#BankOfMah 160%
#FederalBank +75%
#BankOfIndia +62%
#DCBBank +16%
🤔🤔🤔
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