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Buy KEC International Ltd For Target Rs. 816 - Yes Securities We recently interacted with KEC International. The company is on the cusp of a major turnaround driven by stellar growth in its TAM, sequential margin recovery, and reduction of working capital to normalized levels. KEC is the market leader in the domestic T&D EPC industry and is expected to be a major beneficiary of a stellar growth in TAM. With execution of legacy projects largely behind, turnaround in SAE Brazil profitability and a stable commodity environment, the company has signific...
Buy KEC International Ltd For Target Rs. 816 - Yes Securities
Buy KEC International Ltd For Target Rs. 816 - Yes Securities
Source: Yes Securities Ltd
7/09/2023 2:38:32 PM
Buy Voltas Ltd For Target Rs. 1000 - Motilal Oswal Financial Services Expect RAC segment’s market share at 21-22% in FY24/25 * Leadership to sustain in RAC: Voltas (VOLT) is a market leader in the room air conditioners (RAC) segment. Its share had gradually risen to 25.2% in FY21 (from 20.8% in FY15) before declining to 23.4%/21.6% in FY22/FY23. We estimate VOLT to lead the RAC segment with a market share of 21-22% in FY24/25. * Voltbek’s losses continue but strong revenue traction visible: Voltbek (Voltas Beko) posted volume growth of 45%/15-...
Buy Voltas Ltd For Target Rs. 1000 - Motilal Oswal Financial Services
Buy Voltas Ltd For Target Rs. 1000 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
6/09/2023 12:51:19 PM
Add KEC International Ltd For Target Rs.710 - ICICI Direct Robust execution, margin improves YoY/QoQ; downgrading to ADD KEC International reported revenue/EBITDA/PAT growth of 28% / 45% / 36% YoY at INR 42bn / 2.4bn / 423mn. T&D and civil businesses continued to witness strong execution on robust order backlog and normalising of supply chain. The order pipeline remains healthy at >~INR 1trn across segments, which is likely to drive order inflow growth. Current order backlog + L1 at INR 350bn offers strong revenue visibility. We expect mome...
Add KEC International Ltd For Target Rs.710 - ICICI Direct
Add KEC International Ltd For Target Rs.710 - ICICI Direct
Source: ICICI Securities
21/08/2023 12:25:40 PM
Accumulate KEC International Ltd For Target Rs.703 - Geojit Financial Services Healthy growth in T&D business... KEC International Ltd. (KEC) is a global infrastructure Engineering, Procurement and Construction major. It has presence in the verticals of Power T&D (Transmission & Distribution), Cables, Railways and Water & Renewable • In Q1FY24, KEC reported a healthy revenue growth of 28% YoY led by strong execution in T&D segment by 71% YoY, and the civil segment by 60% YoY • EBITDA margin expanded by 68bps YoY to 5.8% in Q1FY24 o...
Accumulate KEC International Ltd For Target Rs.703 - Geojit Financial Services
Accumulate KEC International Ltd For Target Rs.703 - Geojit Financial Services
Source: Geojit Financial Services
16/08/2023 2:38:08 PM
Buy KEC International Ltd For Target Rs.660 - Centrum Broking Ltd KECI’s consolidated sales grew 28% YoY to Rs42.4bn, 11%/9% above our/consensus estimates. Growth was led by T&D (+46% YoY to Rs18.8bn) and Civil segment (+60% YoY to Rs9.6bn). EBITDA grew 45% YoY to Rs2.4bn, leading to EBITDA margin of 5.8%, up 70bps YoY/QoQ each and in-line with our/consensus estimate. PBT grew 26% YoY to Rs467mn while PAT was up 37% YoY to Rs423mn aided by lower tax rate at 9% (vs. 16% YoY). YTD-FY24 order inflow grew 30% YoY to Rs45bn while order book was flat Qo...
Buy KEC International Ltd For Target Rs.660 - Centrum Broking Ltd
Buy KEC International Ltd For Target Rs.660 - Centrum Broking Ltd
Source: Centrum Broking Ltd
9/08/2023 2:12:20 PM
Add Apar Industries Ltd For Target Rs. 3,738 By Yes Securities Bright prospects for conductors and cables Conductors plant visit: Key takeaways * Started in 2013, the Silvassa conductor plant has a monthly production of ~7,000 tons, and current capacity utilization of ~80% * The plant manufactures conventional ACSR conductors and premium AAAC, ACCC and HTLS conductors which find application in T&D. As a 100% exportoriented unit, it caters to key markets of US, Australia, Scandinavia, and to an extent, Africa. The other two strategically loca...
Add Apar Industries Ltd For Target Rs. 3,738 By Yes Securities
Add Apar Industries Ltd For Target Rs. 3,738 By Yes Securities
Source: Yes Securities Ltd
3/07/2023 1:18:36 PM
Good Capital launches $50 mn fund to back startups leveraging AI Seed-stage, India-focused VC firm Good Capital on Friday announced a new $50 million fund to back founders who are leveraging AI for distribution, personalisation or business operations. Good Capital said it is deploying the fund with target cheques of up to $1.5 million over the next 4 years.  The VC firm has been an early investor in unicorns such as Meesho and LEAD School.  “Integrating AI is now table stakes for any startup. Much like the platform shift to mobile ...
Good Capital launches $50 mn fund to back startups leveraging AI
Good Capital launches $50 mn fund to back startups leveraging AI
Source: IANS
30/06/2023 10:42:23 AM
Rotation of heavyweight sectors help maintain market balance Markets have many sectors and they move in a pack with the constituents moving up or down differently at different times. FMCG, Capital Goods, Banking or the BFSI space, Pharmaceuticals, IT and tech space, Automobiles which include two-wheelers, passenger cars, HCVs and also auto ancillaries, and petrochemicals and refineries are some of the names of these sectors. Within the sector, there are the leaders and the laggards which would be different from time to time. The leaders would typ...
Rotation of heavyweight sectors help maintain market balance
Rotation of heavyweight sectors help maintain market balance
Source: IANS
18/06/2023 2:34:25 PM
Cummins India jumps on getting various CPCB IV+ compliance certifications from ARAI Cummins India is currently trading at Rs. 1830.45, up by 40.15 points or 2.24% from its previous closing of Rs. 1790.30 on the BSE. The scrip opened at Rs. 1799.85 and has touched a high and low of Rs. 1832.55 and Rs. 1785.25 respectively. So far 19302 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1839.75 on 13-Jun-2023 and a 52 week low of Rs. 951.60 on 20-Jun-2022. Last one week high and low of the scrip sto...
Cummins India jumps on getting various CPCB IV+ compliance certifications from ARAI
Cummins India jumps on getting various CPCB IV+ compliance certifications from ARAI
Source: Accord Fintech
13/06/2023 2:40:35 PM
Add Thermax Ltd For Target Rs. 2,591 - Yes Securities Gradual margin recovery underway Our view Thermax Ltd (TMX) reported a decent set of numbers with a healthy 16% YoY revenue growth at Rs23.1bn led by healthy execution across segments such as Industrial Products (up 12% YoY), Industrial Infra (up 18% YoY), Green Solutions (up 24% YoY) and Chemicals (up 27% YoY). Order inflows came in at Rs22.5bn (down 34% YoY on a high base) while the order book as of 4QFY23 stands at Rs97.5bn (1.2x TTM revenues), providing revenue visibility for 1-2 ye...
Add Thermax Ltd For Target Rs. 2,591 - Yes Securities
Add Thermax Ltd For Target Rs. 2,591 - Yes Securities
Source: Yes Securities Ltd
3/06/2023 11:27:27 AM
India's steel demand to grow 7.5% in 2023-24 - industry  India's steel consumption is expected to grow by 7.5% during the current fiscal year to March 2024, boosted by rising demand from the domestic construction, railways and capital goods sectors, a leading industry body said on Friday. Steel demand is expected to be 128.9 million tonnes during 2023-24, up from 119.9 million tonnes during the previous year, the Indian Steel Association (ISA) said in a statement. The steel sector has benefited from India's strong economic growth, and...
India's steel demand to grow 7.5% in 2023-24 - industry
India's steel demand to grow 7.5% in 2023-24 - industry
Source: Reuters
27/05/2023 9:16:29 AM
Buy KEC International Ltd For Target Rs.610 - ICICI Direct About the stock: KEC International (KEC) is one of the EPC majors in key infrastructure sectors such as power T&D, railways, civil, urban infrastructure, solar, smart infrastructure, oil & gas pipelines and cables. * A strategic shift in portfolio from T&D to non-T&D (13% contribution in FY16 increased to 50% in FY23) * T&D diversified across countries with entry in ~20 countries in last five years Q4FY23 Results: KEC reported mixed Q4FY23 results given the margin...
Buy KEC International Ltd For Target Rs.610 - ICICI Direct
Buy KEC International Ltd For Target Rs.610 - ICICI Direct
Source: KEC International Ltd
23/05/2023 12:49:46 PM
Buy KEC International Ltd For Target Rs 514 - ICICI Securities KEC International’s (KECI) Q4FY23 performance was ahead of our estimates with revenues up 29%/26% YoY/QoQ to ~Rs55bn, led by a robust order backlog and healthy execution in T&D and civil businesses. EBITDA margin at 5.1%, lower than our estimates (although up 56bps QoQ), was impacted by execution of lowmargin legacy orders. However, given the lower commodity prices, logistics cost at pre-covid levels and improved profitability at SAE Towers, we expect consolidated margins to improve...
Buy KEC International Ltd For Target Rs 514 - ICICI Securities
Buy KEC International Ltd For Target Rs 514 - ICICI Securities
Source: ICICI Securities
23/05/2023 11:16:13 AM
Hold Voltas Ltd For Target Rs. 870 - ICICI Direct About the stock: Started in 1954, Voltas Ltd is part of the Tata Group and the largest air conditioning company in India. The company operates mainly in three business segments, viz. unitary cooling products (UCP), electro mechanical projects and services (EMPS) and engineering products & services (EPS) with topline contribution of 68%, 25%, 7%, respectively, in FY23. It has one of the largest distribution networks in India with more than 24,000 touch points in FY22. It was a leader in th...
Hold Voltas Ltd For Target Rs. 870 - ICICI Direct
Hold Voltas Ltd For Target Rs. 870 - ICICI Direct
Source: ICICI Direct
22/05/2023 4:26:21 PM
Add Apar Industries Ltd For Target Rs. 3,451 By Yes Securities Our view Apar Industries Ltd (APR) reported highest-ever quarterly revenue, EBITDA and PAT, led by growth across Conductors segment (up 41% YoY), Transformers & Specialty Oils (up 27% YoY) and Cables (up 38% YoY). Conductors revenue growth was largely driven by improved share of higher value products and exports. Margins expanded by 460bps YoY owing to higher gross margins and operating leverage benefits. Going forward management expects strong traction in India on the back of robust p...
Add Apar Industries Ltd For Target Rs. 3,451 By Yes Securities
Add Apar Industries Ltd For Target Rs. 3,451 By Yes Securities
Source: Yes Securities
13/05/2023 11:44:28 AM
Add KEC International Ltd For Target Rs597 - Yes Securities Ltd Our view KEC International (KECI) reported a mixed set of numbers, with healthy topline growth in T&D (up 43% YoY) and non-T&D segments such as Civil (up 71% YoY) and Oil & Gas Pipelines (up 39%) too contributed to the growth. Despite robust gross margins, EBITDA margins remained under pressure owing to execution of legacy domestic TBCB projects while SAE Brazil managed to break even at EBITDA level. Order inflows grew by 121% YoY on a low base. As on 4QFY23 order book stands a...
Add KEC International Ltd For Target Rs597 - Yes Securities Ltd
Add KEC International Ltd For Target Rs597 - Yes Securities Ltd
Source: Yes Securities Ltd
6/05/2023 3:38:14 PM
While most global equity markets are rising 5-20% in 2023, India is flat The Nifty, after a weak run in the last four months, bounced back in April with 4.1 per cent MoM gain, Motilal Oswal Financial Services said in a report. Notably, the index was extremely volatile and swung around 776 points before closing 705 points higher. Nifty50 has been underperforming the emerging markets and the world indices in CY23YTD amid varied global macro headwinds viz., inflation, interest rates, and currency, the report said. While most of the global equity markets are ris...
While most global equity markets are rising 5-20% in 2023, India is flat
While most global equity markets are rising 5-20% in 2023, India is flat
Source: IANS
3/05/2023 11:35:24 AM
Neutral Voltas Ltd For Target Rs. 840 - Yes Securities Result Synopsis Voltas has delivered lowerthan expected revenue growth withUCP growing by 12.7% and EMPS segment growing 7.8%. Voltas continues to lose market with YTD February market share at 21.9%, while market share for month of February stood at 18.1%. Voltas has not taken any price increase in Q4, and future price increase will depend on market conditions and competition. Volt?Bek has 26% volume growth in Q4 and FY23 growth for Volt?bek is in range of 15?18%. The projects business con...
Neutral Voltas Ltd For Target Rs. 840 - Yes Securities
Neutral Voltas Ltd For Target Rs. 840 - Yes Securities
Source: Yes Securities
1/05/2023 1:57:51 PM
Buy Voltas Ltd For Target Rs. 973 - Anand Rathi Share and Stock Brokers Despite 20% y/y growth in FY23 revenue, higher material costs weighed on EBITDA margins. One-offs led to its FY23 net income dropping to a nadir. The falling market share in room A/Cs amid stiff and mounting competition is still a major concern. However, the 52% y/y higher projects OB is a positive. Earnings are expected to normalise in FY24 after reaching a nadir in FY23. We upgrade the stock to a Buy. Q4FY23 revenue growth supported by all categories. Q4FY23 revenue at Rs29.6bn was up 11...
Buy Voltas Ltd For Target Rs. 973 - Anand Rathi Share and Stock Brokers
Buy Voltas Ltd For Target Rs. 973 - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers
29/04/2023 12:49:35 PM
Buy KEC International Ltd For Target Rs 540 - ICICI Securities On YTD basis, KEC International (KECI) has achieved an order intake of Rs210bn (+49% YoY) against our FY23 estimates of Rs200bn, led by growth across businesses. Interestingly, as indicated in our earlier note Capital Goods: Revival in transmission capex on the cards, we have started seeing a pickup in domestic T&D awarding with PGCIL being awarded 8 projects (4 projects in 9MFY23) on TBCB basis. We reiterate our positive stance on strong T&D ordering, sustaining for the next 4-5 yea...
Buy KEC International Ltd For Target Rs 540 - ICICI Securities
Buy KEC International Ltd For Target Rs 540 - ICICI Securities
Source: ICICI Securities
5/04/2023 3:25:02 PM
Buy KEC International Ltd For Target Rs540 - ICICI Securities Transmission orders picking up On YTD basis, KEC International (KECI) has achieved an order intake of Rs210bn (+49% YoY) against our FY23 estimates of Rs200bn, led by growth across businesses. Interestingly, as indicated in our earlier note Capital Goods: Revival in transmission capex on the cards, we have started seeing a pickup in domestic T&D awarding with PGCIL being awarded 8 projects (4 projects in 9MFY23) on TBCB basis. We reiterate our positive stance on strong T&D ordering...
Buy KEC International Ltd For Target Rs540 - ICICI Securities
Buy KEC International Ltd For Target Rs540 - ICICI Securities
Source: ICICI Securities
4/04/2023 11:21:17 AM
Wood Sector Update: Weak quarter; EBITDA margin guidance moderated - JM Financial Institutional Securities Wood panel companies’ performance in 3QFY23 was muted with median revenue /EBITDA growth of 3%/-15% respectively on account of subdued demand due to festivals and sluggishness in home improvement activity coupled with rising MDF and particle board imports. The plywood segment (volume grew 3-7% YoY) outperformed the MDF segment (volumes declined 2-14% YoY), after a very long time, as rising MDF imports (+40% QoQ) impacted domestic players’ sales volume while unorganised plywood man...
Wood Sector Update: Weak quarter; EBITDA margin guidance moderated - JM Financial Institutional Securities
Wood Sector Update: Weak quarter; EBITDA margin guidance moderated - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
28/03/2023 12:35:15 PM
Buy KEC International Ltd For Target Rs 471 - ICICI Securities On YTD basis, KEC International (KECI) has achieved an order intake of Rs210bn (+49% YoY) against our FY23 estimates of Rs200bn, led by growth across businesses. Interestingly, as indicated in our earlier note Capital Goods: Revival in transmission capex on the cards, we have started seeing a pickup in domestic T&D awarding with PGCIL being awarded 8 projects (4 projects in 9MFY23) on TBCB basis. We reiterate our positive stance on strong T&D ordering, sustaining for the next 4-5 year...
Buy KEC International Ltd For Target Rs 471 - ICICI Securities
Buy KEC International Ltd For Target Rs 471 - ICICI Securities
Source: ICICI Securities
28/03/2023 12:13:48 PM
Add Bharat Electronics Ltd For Target Rs.106 - Yes Securities Mixed bag; order inflow the key monitorable Our view Bharat Electronics Ltd (BHE) reported a mixed set of numbers with revenue slightly missing our estimates. Even though input cost pressures have eased, gross margins saw a sequential contraction of ~175bps. This, coupled with negative operating leverage led to a ~160/100bps YoY/QoQ contraction in EBITDA margins. Ordering pipeline remains robust across segments such as electronic warfare system, army equipment like Akash weapon system, ...
Add Bharat Electronics Ltd For Target Rs.106 - Yes Securities
Add Bharat Electronics Ltd For Target Rs.106 - Yes Securities
Source: Yes Securities Ltd
13/03/2023 12:31:53 PM
Buy Triveni Turbine Ltd For Target Rs.345 - Centrum Broking Strong quarter; Buoyant growth outlook sustained Triveni Turbine (TRIV) posted highest ever consolidated sales at Rs3.3bn, up 45% YoY and 10% above our estimate. Exports jumped 123% YoY to Rs1.4bn on a low base, while domestic sales grew 14% YoY to Rs1.9bn. Gross margin expanded 390bps YoY and 190bps QoQ to 48.6%. Other expenses were higher by 106% YoY to Rs619mn due to Rs252mn subcontracting charges of after-market utilities turbine orders in SADC region. EBITDA grew 40% YoY to Rs631mn wi...
Buy Triveni Turbine Ltd For Target Rs.345 - Centrum Broking
Buy Triveni Turbine Ltd For Target Rs.345 - Centrum Broking
Source: Centrum Broking Ltd
6/03/2023 12:58:39 PM
Reduce Honeywell Automation India Ltd For Target Rs.36,489 - ICICI Securities Weak execution impacts earnings Honeywell Automation India’s (HAIL) revenues declined 1.6% YoY to Rs8.6bn in Q3FY22, but was up 17% QoQ. EBITDA fell 35% YoY to Rs1.2bn due to higher input costs while PAT shrunk 40% YoY to Rs897mn due to a 50% YoY decline in other income. Company reported an EBITDA margin of 14.2% (down 730bps YoY, 40bps QoQ). Although near-term execution headwinds remain, we expect pick-up in automation across multiple industries in line with the Infrastructure thrus...
Reduce Honeywell Automation India Ltd For Target Rs.36,489 - ICICI Securities
Reduce Honeywell Automation India Ltd For Target Rs.36,489 - ICICI Securities
Source: ICICI Securities Ltd
2/03/2023 11:01:14 AM
Add Thermax Ltd For Target Rs. 2,428 - Yes Securities Decent quarter; margin pressure eases    Our view Thermax Ltd (TMX)reported a decent set of numbers with a healthy 27% YoY revenue growth at Rs20.5bn led by robust execution across segments such as Energy (up 27%), Environment (up 29%) and Chemicals (up 6%). Order inflows came in at Rs22bn while the order book as of 3QFY23 stands at Rs98.6bn (1.3x TTM revenues), providing revenue visibility for 1?2 years. EBITDA margins expanded by ~90bps YoY owing to easing RM pressures. M...
Add Thermax Ltd For Target Rs. 2,428 - Yes Securities
Add Thermax Ltd For Target Rs. 2,428 - Yes Securities
Source: Yes Securities Ltd
23/02/2023 2:37:24 PM
Add Grindwell Norton Ltd For Target Rs. 2,215 - ICICI Securities Strong play on industrial growth Grindwell Norton (GWN) delivered a healthy performance in Q3FY23 benefiting from revival in industrial demand and its recent acquisition, PRS Permacel. Consolidated revenues grew 20.3% YoY to Rs6bn in Q3FY23 – led by 39% YoY growth in ceramics & plastics (lower base), and 9% in abrasives. Gross margin was stable YoY, but improved by 150bps QoQ to 55%. EBITDA margin expanded 180bps YoY on higher operating leverage. EBITDA grew 32% YoY to Rs1.2bn; h...
Add Grindwell Norton Ltd For Target Rs. 2,215 - ICICI Securities
Add Grindwell Norton Ltd For Target Rs. 2,215 - ICICI Securities
Source: ICICI Securities Ltd
16/02/2023 11:03:27 AM
Buy Voltas Ltd For Target Rs.1,100 - JM Financial Institutional Securities EMP segment a drag; no further share loss in room ACs Voltas’ 3QFY23 results saw a sharp miss. Net sales grew by 11.8%YoY to INR20.1bn (7% above JMFe), while EBITDA was 39% below estimates (INR 764mn; -51% YoY). UCP segment recorded 11.2% growth, a tad lower vs domestic peers Lloyds (+30%) and Blue Star (+15%), but materially better than MNC brands – Hitachi (-10%), Whirlpool (-18%) and IFB (-20%). EMP segment grew 17.1% YoY, while Engineering Products segment witnessed decline...
Buy Voltas Ltd For Target Rs.1,100 - JM Financial Institutional Securities
Buy Voltas Ltd For Target Rs.1,100 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
15/02/2023 11:16:33 AM
Cummins India jumps on reporting 66% rise in Q3 consolidated net profit Cummins India is currently trading at Rs. 1578.75, up by 103.40 points or 7.01% from its previous closing of Rs. 1475.35 on the BSE. The scrip opened at Rs. 1540.00 and has touched a high and low of Rs. 1618.00 and Rs. 1535.15 respectively. So far 155466 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1618.00 on 09-Feb-2023 and a 52 week low of Rs. 907.05 on 09-Feb-2022. Last one week high and low of the scrip s...
Cummins India jumps on reporting 66% rise in Q3 consolidated net profit
Cummins India jumps on reporting 66% rise in Q3 consolidated net profit
Source: Accord Fintech
9/02/2023 3:25:51 PM
Accumulate KEC International Ltd For Target Rs.524 - Geojit Financial Services Healthy execution; margin recovery on cards KEC International Limited (KEC) is a global infrastructure Engineering, Procurement and Construction major. It has presence in the verticals of Power T&D (Transmission & Distribution), Cables, Railways and Water & Renewable. • KEC registered a healthy revenue growth of 31% YoY (above estimate), owing to strong execution in T&D segment by 39% YoY, and the Civil by 75% YoY while, railway, cable and solar business witnessed a...
Accumulate KEC International Ltd For Target Rs.524 - Geojit Financial Services
Accumulate KEC International Ltd For Target Rs.524 - Geojit Financial Services
Source: Geojit Financial Services Ltd
8/02/2023 5:11:49 PM
Update on Power Mech Projects Ltd By Anand Rathi Shares and Stock Brokers Building brick by brick Incorporated in 1999, the Hyderabad-based integrated infrastructureservice Power Mech Projects, started with ETC in the power sector. Its diversification into non-power, to mitigate the anticipated slowdown in thermal capacity addition, was a step in the right direction. Its overseas operations added to its diversity. For stability and predictability, it bolstered its position in O&M; its recent foray into MDO too appears aimed at this. All this combined hold th...
Update on Power Mech Projects Ltd By Anand Rathi Shares and Stock Brokers
Update on Power Mech Projects Ltd By Anand Rathi Shares and Stock Brokers
Source: Anand Rathi Shares and Stock Brokers Ltd
17/01/2023 11:43:29 AM
Safari Industries shines on starting commercial production of additional capacity at Halol factory Safari Industries is currently trading at Rs. 1777.95, up by 82.50 points or 4.87% from its previous closing of Rs. 1695.45 on the BSE. The scrip opened at Rs. 1729.00 and has touched a high and low of Rs. 1795.00 and Rs. 1729.00 respectively. So far 1316 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1975.25 on 10-Nov-2022 and a 52 week low of Rs. 781.00 on 22-Feb-2022. Last one week high and low of the scrip ...
Safari Industries shines on starting commercial production of additional capacity at Halol factory
Safari Industries shines on starting commercial production of additional capacity at Halol factory
Source: Accord Fintech
10/01/2023 11:04:35 AM
FPIs sold for 11 consecutive days to the tune of Rs 14,300 cr FPIs have turned sustained sellers in the Indian market and sold for 11 consecutive days taking the cumulative selling to Rs 14,300 crore, says V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services. "And, the money taken out is being invested in the underperformers of last year like China and Europe, which are doing well now. Clearly, FII money is chasing lower valuations by selling in overvalued markets like India," he added. This is the important tre...
FPIs sold for 11 consecutive days to the tune of Rs 14,300 cr
FPIs sold for 11 consecutive days to the tune of Rs 14,300 cr
Source: IANS
7/01/2023 2:04:38 PM
Buy KEC International Ltd For Target Rs. 520 - Yes Securities Another quarter of disappointing margins Our view KEC International (KECI) reported a mixed set of numbers, with healthy topline growth across both T&D (7% YoY) and nonT&D segments such as Cables (10% YoY), and Civil (65% YoY). Despite robust gross margins, EBITDA margins remained under pressure owing to elevated freight costs, execution of legacy projects at adverse prices and SAE Brazil performance. Primarily due to a low base, order inflows grew 134% YoY. As on 2QFY23 order ...
Buy KEC International Ltd For Target Rs. 520 - Yes Securities
Buy KEC International Ltd For Target Rs. 520 - Yes Securities
Source: Yes Securities Ltd
5/01/2023 2:58:50 PM
Hold Thermax Ltd For Target Rs. 2,540 - ICICI Direct Cautiously optimistic… About the stock: Thermax Ltd (Thermax) offers integrated solutions in the areas of energy and environment – heating, cooling, power, water & waste management, air pollution control and chemicals. * It operates in three key segments energy (~70.7% of FY22 revenue), environment segment (~20.6%) and chemicals segment (~8.7%) * Focus to increase product & services share (~50% in FY22) vs. projects Q2FY23 Results: Thermax reported decent Q2FY...
Hold Thermax Ltd For Target Rs. 2,540 - ICICI Direct
Hold Thermax Ltd For Target Rs. 2,540 - ICICI Direct
Source: ICICI Direct Ltd
28/12/2022 2:49:09 PM
Buy KEC International Ltd For Target Rs.598 - ICICI Direct Technical Outlook • Nifty Infra index hit a new high after previous year’s multi year breakout indicating structural uptrend. In the power infra space, one of our top recommendations is KEC, which is resolving out of a triangular consolidation pattern of past two years indicating resumption of uptrend • Structurally, share price has formed a strong base around 350-370 zone, which was earlier breakout level and rising 52-week average • We expect the stock price to...
Buy KEC International Ltd For Target Rs.598 - ICICI Direct
Buy KEC International Ltd For Target Rs.598 - ICICI Direct
Source: ICICI Direct Ltd
21/12/2022 11:53:43 AM
L&T gains on securing orders for Hydrocarbon Business Larsen & Toubro is currently trading at Rs. 2196.80, up by 20.05 points or 0.92% from its previous closing of Rs. 2176.75 on the BSE. The scrip opened at Rs. 2160.00 and has touched a high and low of Rs. 2210.50 and Rs. 2160.00 respectively. So far 13495 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2,210.50  on 16-Dec-2022 and a 52 week low of Rs. 1456.80 on 20-Jun-2022. Last one week high and low of...
L&T gains on securing orders for Hydrocarbon Business
L&T gains on securing orders for Hydrocarbon Business
Source: Accord Fintech
16/12/2022 11:01:28 AM
High Conviction Idea : Buy Voltas Ltd For Target Rs.895 1,149 - Religare Broking Regaining momentum Largest Air Conditioning company in India: Incorporated in 1954, Voltas Ltd. (Voltas), a part of multinational conglomerate, the Tata group, is India’s leading air conditioning company with strong presence in unitary cooling products, engineering projects, and engineering product and services. It is the market leader in the room air conditioner category with a market share of 24.1% as on June-22. The company entered the home appliance segment through a 50:50 joint ...
High Conviction Idea : Buy Voltas Ltd For Target Rs.895 1,149 - Religare Broking
High Conviction Idea : Buy Voltas Ltd For Target Rs.895 1,149 - Religare Broking
Source: Religare Broking Ltd
13/12/2022 12:59:17 PM
Neutral Thermax Ltd For Target Rs. 2,374 - Yes Securities Mixed quarter; margins hit by RM inflation Our view Thermax Ltd (TMX) 2QFY23 result was a mixed bag with a strong 41% YoY revenue growth at Rs20.7bn led by robust execution across segments such as Energy (up 39%), Environment (up 44%) and Chemicals (up 48%). Order inflows came in at Rs20.1bn while the order book as of 2QFY23 stands at Rs94.8bn (1.3x TTM revenues), providing revenue visibility for 1?2 years. EBITDA margins remained under pressure owing to high input costs in the Energy a...
Neutral Thermax Ltd For Target Rs. 2,374 - Yes Securities
Neutral Thermax Ltd For Target Rs. 2,374 - Yes Securities
Source: Yes Securities Ltd
9/12/2022 11:25:41 AM
Buy Voltas Ltd For Target Rs.1,150 - JM Financial Institutional Securities A tight rope walk between margins and market share Voltas 2QFY23 revenues came in line with our and consensus numbers, however EBITDA/PAT came in lower vs our estimates. Net sales grew by 4.7%YoY to INR17.7bn, while EBITDA was down 22% YoY (INR1bn; 12% below JMFe). Lower sales growth was on account of moderate growth in UCP segment (c.10% lower vs JMFe, +4% YoY), due to weak consumer demand and incessant rains. After series of subdued quarters, EMP segment recorded sales growth of 3% YoY (...
Buy Voltas Ltd For Target Rs.1,150 - JM Financial Institutional Securities
Buy Voltas Ltd For Target Rs.1,150 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
9/12/2022 11:11:31 AM
Reduce Voltas Ltd For Target Rs.895 - Centrum Broking Margin pressure to stay elevated amid fierce competition   Voltas’  (VOLT)  consolidated  sales  grew  5%  YoY  to  Rs17.7bn,  broadly  in?line  with  our/consensus  estimates.  UCP  sales  grew  only  4%  YoY  to  Rs10.5bn  due  to  low consumer demand in a non?seasonal quarter. VOLT’s...
Reduce Voltas Ltd For Target Rs.895 - Centrum Broking
Reduce Voltas Ltd For Target Rs.895 - Centrum Broking
Source: Centrum Broking
8/12/2022 11:15:46 AM
Buy KEC International Ltd For Target Rs. 502 - ICICI Securities Margin improvement remains key KEC International’s (KEC) Q2FY23 revenue grew 13% YoY to ~Rs41bn, led by healthy execution across all segments barring railways. However, EBITDA margin at 4.4% (ISEC 6.4%) was impacted mainly by higher raw material and logistics cost, continued losses at SAE Towers and execution of low-margin legacy orders. However, given the reduction in commodity prices lately and completion of SAE’s loss legacy orders, margins are expected to improve gradually ...
Buy KEC International Ltd For Target Rs. 502 - ICICI Securities
Buy KEC International Ltd For Target Rs. 502 - ICICI Securities
Source: ICICI Securities Ltd
19/11/2022 11:21:15 AM
Reduce Honeywell Automation India Ltd For Target Rs.34380 - ICICI Securities In-line performance; supply-chain concerns persist Honeywell Automation India’s (HAIL) performance in Q2FY23 was in line with our estimates. Revenue increased 7.7% YoY and was flat QoQ at Rs7.9bn (ISECe Rs8.1bn). EBITDA increased 19% YoY to Rs1.3bn. EBITDA margin at 16.1%, which was ahead of our estimates, improved by 152bps YoY. This was led by 214bps improvement in gross margin. PAT was higher due to doubling of other income. Operating cashflow generation decreased 13% YoY to Rs1.4...
Reduce Honeywell Automation India Ltd For Target Rs.34380 - ICICI Securities
Reduce Honeywell Automation India Ltd For Target Rs.34380 - ICICI Securities
Source: ICICI Securities Ltd
19/11/2022 9:50:37 AM
Cummins India inches up on reporting 21% rise in Q2 consolidated net profit Cummins India is currently trading at Rs. 1331.70, up by 0.55 points or 0.04% from its previous closing of Rs. 1331.15 on the BSE. The scrip opened at Rs. 1349.00 and has touched a high and low of Rs. 1372.55 and Rs. 1307.50 respectively. So far 32837 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1373.00 on 01-Nov-2022 and a 52 week low of Rs. 842.65 on 29-Nov-2021. Last one week high and low of the scrip stoo...
Cummins India inches up on reporting 21% rise in Q2 consolidated net profit
Cummins India inches up on reporting 21% rise in Q2 consolidated net profit
Source: Accord Fintech
7/11/2022 3:12:39 PM
Sell Apar Industries Ltd For Target Rs. 1172 - Yes Securities Robust quarter; growth levers intact Our view Apar Industries Ltd (APR) reported highest?ever quarterly revenue, led by growth across Conductors segment (up 33% YoY), Transformers & Specialty Oils (up 31% YoY) and Cables (up 79% YoY). Conductors revenue growth was largely driven by improved share of higher value products and exports (46% vs 32% in Q2FY22). Margins expanded by 140bps YoY owing to higher gross margins. Going forward management expects strong traction in India on the b...
Sell Apar Industries Ltd For Target Rs. 1172 - Yes Securities
Sell Apar Industries Ltd For Target Rs. 1172 - Yes Securities
Source: Yes Securities Ltd
7/11/2022 12:54:46 PM
Cummins India Limited reported a record revenue for the quarter Cummins India Limited (NSE: CUMMINSIND and BSE: 500480) The Board of Directors of Cummins India Limited (‘CIL’), at their meeting held today, reviewed and approved the unaudited financial results (consolidated and standalone) for the quarter and period ended September 30, 2022. Performance Highlights (based on standalone financial results) for the quarter and period ended September 30, 2022: Total Sales for the quarter at ? 1,922 Cr. increased by 14% compared to the ...
Cummins India Limited reported a record revenue for the quarter
Cummins India Limited reported a record revenue for the quarter
Source: PR Agency
5/11/2022 2:48:32 PM
Add Triveni Turbine Ltd For Target Rs. 319 - Yes Securities Robust quarter; exports shaping up well Our view Triveni Turbine (TRIV) reported healthy performance on account of execution ramp up and strong export sales (up 93% YoY). EBITDA Margins contracted ~30bps YoY owing to certain costs (Rs113.6mn) associated with the execution of a large order in SADC region. Order inflows came in at a record Rs3.6bn (up 17% YoY) led by strong growth in export markets (up 118% YoY) at Rs1.8bn while domestic OI de?grew by 19%. Order book remains strong at ~Rs...
Add Triveni Turbine Ltd For Target Rs. 319 - Yes Securities
Add Triveni Turbine Ltd For Target Rs. 319 - Yes Securities
Source: Yes Securities Ltd
4/11/2022 1:49:36 PM