Jay Kailash Namkeen’s IPO opened on 28 March and was oversubscribed by over 1.46 times, on the first day. It posted a revenue of Rs.6.4 cr. and NP of Rs.40 lakh as of 30 Nov 2023. The issue will close on Wed, 3 April and is expected to list well as it commands a GMP of Rs.38.
Ahmedabad based Mishtann Foods rights issue opens on 2nd April 2024 at Rs. 15/share in the ratio of 1 share for every 31-share held on 20th March 2024.
The global E-Waste rose to 62 mn. tonnes comprising metals, plastics and other materials and is out pacing the rise in formal recycling by almost 5 times, which spells the huge potential for Eco- Recycling, the pioneer and leader in India.
Artefact Projects has huge orders for six years having bagged Rs.5.50 cr. order from NHAI. It pre-paid its debt of Rs.5 cr. and trades at a P/E of 8x and P/B of 0.86x even as its Q3 NP rose 60% and 9M NP grew 53%. Buy for hefty gains.
Godavari Drugs Q3 NP rose 82% to Rs.1.22 cr. from Rs.67 lakh YoY. For 9M, it posted PAT of Rs.2.89 cr. fetching an EPS of Rs.3.83. Buy for 25% gains.
Lehar Footwears 9M PAT rose 56% to Rs.5.34 cr. from Rs.3.42 cr. YoY as all its verticals are growing. Promoters hold 71.81% & 29 HNIs hold 13.49%. Its 52-week high is Rs.179 but due to market crash it is now available at attractive valuations. Buy for hefty gains.
Gujarat Industries Power’s Q3 PAT rose 65% to Rs.46.62 cr. from Rs.28.34 cr. QoQ. With a BV of Rs.211 and a 52-week high of Rs.237, it is available at Rs.163 and has the best P/B among all power stocks and a dividend payout of 25%. Buy for hefty gains.
Ramky Infra hit a new 52-week high of Rs.1008 on 2 Feb 2024 but is now available at Rs.485.80. It has signed two contracts with Greater Chennai Corporation for Reclamation of Kodungaiyur Dumping Ground through Biomining. Buy for decent gains.
HFCL to incur a capex of Rs.144 cr. on an optical fiber cable manufacturing facility in Poland. It has orders of Rs.40.36 cr. for supply of optical fiber cables to a leading private telecom operator in India. Add for 20% gains.
Porwal Auto Components 9M NP rose 523% to Rs.3.20 cr. from Rs.6 lakh YoY. Two reputed HNIs Veeresam Pabba hold 1.31% and P. Pirlamarla hold 2.40%. Its 52-week high is Rs.70. Add for 25% gains.
Most PSU stocks crashed and are likely to rise again in FY25. Keep an eye on those PSU stocks which have bright future and are available at a reasonable value.
Competent Auto Q3 NP rose 62% to Rs.7.53 cr. from Rs.4.66 cr. YoY. For FY23, it posted sales of Rs.1731 cr. and EPS of Rs.42. It has a BV of Rs.521 and a market cap of Rs.235 cr. It trades at a P/E of 5.6x and P/B of 0.75x. Buy for good gains as the stock will list on the NSE too.
Sika Interplant Systems is engaged in the Defence & space A&D; Auto Eng., Aerospace & electrical module integration. For Q3, its PAT rose 115% to Rs.4.73 cr. on 77.45% higher sales of Rs.26 cr. fetching an EPS of Rs.11.15. Add for multi-bagger gains.
TBZ 9M NP grew 47% to Rs.41.82 cr. from Rs.28.46 cr. YoY. The promoters hold 74%, FPIs hold 1.82%, Malbar Gold hold 3.52% and HNI Vijaykumar holds 6,88,901 shares. Add for 25% gains.
Tyche Inds aims to be a global player in APIs and advanced intermediates by 2025. It trades at a P/E of 13x and P/B of 1.63x. It paid 20% dividend for FY23. It has an impressive ROCE of 17%. Buy.
With excellent monsoon expectations, one can look at fertilizer stocks in the coming weeks. GSFC is highly undervalued given its intrinsic value. It is available at 30-40% discount to its 52-week high. Add.
HT Media has stake in HMVL worth more than its mktcap. Not to forget the other businesses of print, radio and the job portal ‘SHINE.com’. Add.
With insurance companies getting major relief on surrender value from IRDAI last week, HDFC Life and New India Assurance should be good stocks to bet in the coming months. Add.
Cosmo First is engaged in specialty films for packaging, lamination & labeling applications. It offers BOPP films, CPP films and BOPT films. It trades at 50% discount to its 52-week and trades at a P/E of 10x. Add for 30% gains.
Summit Securities is the holding company of CEAT, KEC, ZENSAR, etc. valued at Rs.10100 cr. but a market cap Rs.1300 cr. only and is debt free. It trades at a 87% discount to its fair value. Add for 25% gains.
DCM Shriram Industries recorded strong growth in Q3 and 9M. With an additional attraction of 3-way demerger, it may scale new peaks in FY25. Add for the long term.
SPL Industries trades at a P/E of 13.04x as against the industry average of 32.88x and at a P/B of 0.8x as against the industry average of 2.45x. Strong fireworks are in store for this stock. Buy.
Apollo Hospitals group co., Indraprastha Medical Corp., trades at a P/E of 14x as against the industry average of 44.31x. It is a strong re-rating candidate. Add.
Indus Towers has a strong market presence and financial stability given its extensive infrastructure, customer base & effective management. American Towers’ decision to convert its debt in Vodafone Idea (VI) into equity will benefit from the strengthened financial position of VI for recovering its dues. Add.
Reliance Infrastructure’s subsidiary, Reliance Velocity Ltd. (RVL), enters into agreements with Rosa Power Supply Co. Ltd. & Tata Hydro Power Pvt. Ltd. for secured inter-corporate deposits worth Rs.425 cr. This means that RVL seeks financial support for its operations or investment activities. Considering the current market, it can do well in the short term. Add.
Rudra Global ventured into the defense & aerospace sector by establishing a subsidiary, indicating a strategic move to diversify its portfolio and tap into new markets with potentially high growth prospects. Further, it has launched RudraMart, which will expand its presence in the construction and infrastructure industry. Add.
Eicher Motors launches a ‘Royal Enfield’ unit in Netherlands. Add for the long term.
Forecast of a normal monsoon boosting rural consumption will add to the bullish fervour created by other economic indicators.
Interglobe Aviation plans 30 wide bodied Airbus for its Indigo Airlines and sharp rise of aeroplanes to 600 by FY 26 from 366 now.
Lupin Laboratories to sell India trade generics to its own arms for Rs.132 cr.
Mining industry is set to boom as India begins offshore excavation of critical minerals in Africa.
Rerouting Red Sea Cargo will hit farm products capital goods and oil trade.
Employee Provident Fund Organisation adds 8.08 lakh new members in Jan 24.
Gensol Engg. bags Rs. 520 cr. EPC order in Maharashtra.
With FPIs bolstered after bonds got included in the index, India’s FY25 economic outlook is positive despite headwinds.
KEC International bags Rs.1004 cr. new orders across various businesses.
Bharti Airtel to launch IPO of Bharti Hexacom in first week of April 2024.
Nilesh Shah of Kotak AMC sees correction ahead & suggests profit booking now. He feels India is relatively overvalued against China, Brazil etc.
Listing gains from IPOs are on the decline according to Prime Database, which states that 10 of the 21 companies listed in the past 3 months were listed below their issue price.
RBL Bank to focus on new retail product and cut-down its wholesale books to boost its return on assets by 13-14% by 2026.
Ultratech Cement to buy 26% in O2 renewable energy XXII for Rs.16 cr. and thereby optimize its energy costs.
Rising coco prices will affect chocolate producers Nestle & Lotus Chocolate Co.
Thanks to SEBI, Indian bourses have become the fastest stock trading and settlement service provider in the world with the same day settlement in 25 leading stocks to begin with..
Goldman sachs has raised the target price of Reliance Industries, the largest co. in India by market capitalization to Rs. 3400/ share from.
Tata Motors’ Tata passengers electric mobility arm TPEM has tied up with Hindustan Petroleum to set up 5000 public charging station across India by December 2024.
India Cements to raise 750 cr. via bonds to fund its working capital and capital expenditure.
With Sensex up 25% in FY24 despite global woes, the BSE market cap has hit $4.7 trillion and investor wealth has risen the most this year to $ 1.6 trillion.
Wockhardt to cut debt and raise funds for clinical trials of innovative antibiotic drugs.
Indian Hotels co. eyes 90 new properties after a buoyant FY24 with 52 signings and 34 openings in a portfolio of 300 hotels.
Realty firm, Macrotech Developers of the wellknown Lodha brand to raise Rs. 125 cr.
Siyaram Recycling founded in 2007 is recommended by experts for its brass scrap separation, ingot manufacturing and production of industrial brass components. Buy.
LIC Housing Finance, the second largest housing finance co., posted 152% higher Q3 EPS of Rs. 21.2 and 117% higher 9M EPS of Rs.66.9. This could take FY24 EPS to Rs.90+. A conservative P/E of 8.5x could take its share price to Rs.765. Buy.
Shreyans Industries, manufacturer of writing & printing paper, posted Q3 EPS of Rs.15 and 9M EPS of Rs.52.5. This could take FY24 EPS to about Rs.67. Add.
Debt-free IST Ltd., manufacturer of auto components, posted 56% higher Q3 EPS of Rs.27.7 and 61% higher 9M EPS of Rs.86.9. This may lead to FY24 EPS of Rs.125. Buy for 35% gain.
Beekay Steel, a 50+ year old steel manufacturer, posted 54% higher Q3 EPS of Rs. 13.9 and 10% higher 9M EPS of Rs.49.1. This could take FY24 EPS to Rs. 65. Buy.
Voith Paper Fabrics, with 74% German stake, posted 37% higher Q3 EPS of Rs. 21.8 and 31% higher 9M EPS of Rs. 65.8. This may take FY24 EPS to Rs.90. A reasonable P/E of 30x for MNCs, the share price could reach Rs.2700. Buy
JM Financial a diversified financial services major, posted 45% higher Q3 EPS of Rs. 2.9 and 18% higher 9M EPS of Rs 6.7. This may take FY24 EPS to Rs 11. Buy for the long term.
Government owned Repco Home Finance with 160 branches nationwide, posted 25% higher Q3 EPS of Rs. 16.5 and 30% higher 9M EPS of Rs. 48.4. This could take FY24 EPS to Rs. 66. Buy.
Canara Bank posted 44% higher 9M EPS of Rs 62.4. This could take FY24 EPS to Rs 85. A reasonable P/E of 8x may take its share price to Rs 680. It announced a 1:5 face value split from Rs. 10 to Rs 2. Buy for 20% gain.
Bank of India posted 109% higher Q3 EPS of Rs.4.6 and 100% higher 9M EPS of Rs 12.1. This may take FY24 EPS to Rs. 17. Buy for 20% gain.
International Conveyors, a 46-year-old manufacturer of conveyor belting systems, posted 200% higher Q3 EPS of Rs 3.6 and 187% higher 9M EPS of Rs 8.9. This may take FY24 EPS to Rs. 13+. Buy for 25% gain.
NCL Industries posted 80% higher 9M EPS of Rs 15.3 which may take FY24 EPS to Rs. 22. Buy for 20% gain.
Shilp Gravures, a leader in Electro-Mechanical Engraving, posted 80% higher Q3 EPS of Rs 4.5 and 59% higher 9M EPS of Rs 16.2. This may take FY24 EPS to Rs 22+. Buy for 20% gain.
Cyient signs an agreement with Deutsche Aircraft to design rear fuselage section of D328 Eco Aircraft. This will boost its revenue & profitability. Add.
Dr Reddy’s Labs signs an exclusive distribution agreement with Sanofi Healthcare India to promote & distribute the vaccine brands of Sanofi Healthcare in India. Add.
Balmer Lawrie to set up a Rs.230 cr. free trade warehousing zone in the SEZ of Jawaharlal Nehru Port Authority. Add for the long term.
Man Industries’ begins its first 50,000 TPA ERW mill in Gujarat, which will boost its top line. Add.
BHEL bags an order from Adani Power for a 2×800 MW thermal power plant at Raigarh. A big positive. Add for the long term.
Varun Beverages acquires South Africa-based beverage co. and its wholly-owned subsidiaries, which boost its revenues substantially. Add.
Annapurna acquires six-decade-old Arati brand mustard oil from R R Proteins worth Rs.28 cr. A big positive. Add.
Andhra Sugar commissions a new Salicylic Acid plant of 2,640 TPA at Tanuku. Add.
GOCL Corp, formerly Gulf Oil Corp., signs a MoU with Squarespace lnfra for monetization of ~ 264.50 acres of land situated at Kukatpally, Hyderabad. Add
Mahickra Chemicals bags export orders worth $250,000 from Egypt & Turkey. A big positive. Add.
Sree Raylaseema Hypo announces commercial production of 2 TPD of Sodium metal. Add.
Biocon receives UK Healthcare’s approval for diabetes drug Liraglutide – the first generics co. to obtain approval. A big positive. Add.
Reliance Industries signs a 20-year power purchase agreement with Adani Power arm at an investment of Rs.50 cr. Add.
NHPC to raise Rs.6,100 cr. debt in FY25 through NCDs, term loans & ECBs. Something big is cooking. Add.
US FDA issues 4 observations for Zydus Life’s Ahmedabad’s SEZ Onco injectable manufacturing plant. Sell.
US FDA issues form 483 with 10 observations to Alkem Lab’s plant at Baddi. Sell.
RailTel bags an order from the Centre for Development of Advanced Computing for VMWare virtualization licenses with 3 years support worth Rs.36.35 cr. Add.
Bajaj Auto to launch its biggest Pulsar soon and also CNG motorcycle in June. A big positive. Add.
KP Energy commissions a 16.8 MW inter state transmission system (ISTS) connecting its wind power project at Sidhpur with Devbhoomi Dwarka. Add.
JSW Energy’s arm signs a Business Transfer Agreement with Reliance Power for purchase of the 45 MW Vashpet Wind project for Rs.132 cr. Add.
Hindustan Aeronautics to supply 2 Hindustan-228 Commuter Aircraft worth Rs.194 cr. to Guyana. A big positive. Add for the long term.
Greaves Cotton signs a Technology Transfer & Supply Agreement with Japanese Tsuyo Manufacturing Pvt. Ltd. for low-speed 3-wheeler vehicles. Add.
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