Another very strong company polycab

Stock in focus: TCI Express
Jefferies initiates coverage
BUY with TP of 2300 ,33% upside to CMP
leading express delivery player
GST driving double digit growth for organized players
TCI express profits should rise 2.8X in FY21-25
Expect 23% revenue CAGR and margin improvement

TCI express up 9% now 👍

Stock to watch: Mindtree
➡️strong performance
➡️5.2% QoQ constant currency growth
➡️growth across verticals
➡️Deal TCV rose 9% QoQ to $390m
➡️company says demand environment strong
➡️maintain margin guidance of above 20% in fy23
➡️announced highest ever dividend of INR27/share.

Tata elxsi reports a strong quarter
Constant currency Rev growth of 7.4% QoQ in Q4
Full year CC rev growth at 34.3%
Embedded product design which is 90% of revenues saw strong growth of 7.6%
Announced dividend of 42.5rs/ share
However valuations very steep at 70x FY23 p/e

Strong commentary from INFOSYS management

Superb numbers from polycab in q1

Had identified navin fluorine in 2020 when it was 1600 rupees. It’s almost 4000rs today. Strong earnings continue in q1

Navin fluorine very strong earnings
Q1FY23-YoY
Revenue up 23% at 387cr vs 314cr (est at 421cr)
EBITDA up 28% at 100cr vs 78cr (est at 93cr)
OPM at 25.8% vs 24.8% (est at 22.2%)
PAT up 40% at 79cr vs 56.4cr (est at 63cr)
Gross Margins up 220bps QoQ

Fresh 52 week high for navin fluorine

Good numbers from persistent systems , margins improve for 10 straight quarters

Brokerages raise target price and earnings estimate of kotak Mahindra bank post strong earnings

CITI
Buy, TP raised to Rs 2120

HSBC on Kotak BK
Hold, TP raised to Rs 2030

Strong loan growth, NIMs expansion, muted credit costs, asset quality improvement were +ve highlights
Deposit growth remained modest

Very strong commentary from the SBI management , stock in focus

SBI says
decent credit growth seen in the industry
deposits are very critical to fund credit growth
there is unspent money from the governmetn
expect more money to be spent by the govt
economy is on the upswing
auto sales have rebounded
real estate sales on the rise
capacity utilisation has gone up in corporate sector
good traction picking up in corproate capex
12 lakh crores worth of fresh corporate investments in the H1FY23
last year, 20 lakh crore of fresh corproate investments came in

Nykaa could continue to be under pressure, now down 3% , on November 10 the lock in for pre ipo shareholders will expire hence more selling could come through

Stock to watch today
Tata chemicals
strong earnings in Q2
Revenue up 40% YoY at 4239cr
EBITDA up 84% YoY at 920cr
Margins up 510 bps YoY at 21.7%
Profits up 176% at 685cr
Gross debt down 177cr at 4232cr

Stock is down 6% now, new low

Morning folks!
-SGX nifty up 90 points, big gap up coming
-very strong results from SBI and Bank of Baroda
-bank nifty less than 600 pts away from ATH
- Foreign investors buy in cash for 7th session
- Dow up 400 pts on friday
-strong earnings from Titan,TVS motor, britannia