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Varroc Engineering shines on raising Rs 250 crore through NCDs Varroc Engineering is currently trading at Rs. 456.55, up by 13.25 points or 2.99% from its previous closing of Rs. 443.30 on the BSE. The scrip opened at Rs. 455.00 and has touched a high and low of Rs. 466.90 and Rs. 451.25 respectively. So far 12491 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 466.90 on 08-Sep-2023 and a 52 week low of Rs. 239.80 on 29-Mar-2023. Last one week high and low of the scrip stoo...
Varroc Engineering shines on raising Rs 250 crore through NCDs
Varroc Engineering shines on raising Rs 250 crore through NCDs
Source: Accord Fintech
8/09/2023 10:15:02 AM
Force Motors touches roof as its SCV & LCV production stands at 2,360 units in August Force Motors is currently trading at upper limit of Rs. 3633.25, up by 173.00 points or 5.00% from its previous closing of Rs. 3460.25 on the BSE. The scrip opened at Rs. 3626.05 and has touched a high and low of Rs. 3633.25 and Rs. 3619.95 respectively. So far 9886 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3655.00 on 17-Aug-2023 and a 52 week low of Rs. 1085.20 on 28-Mar-2023. Last one week high and low ...
Force Motors touches roof as its SCV & LCV production stands at 2,360 units in August
Force Motors touches roof as its SCV & LCV production stands at 2,360 units in August
Source: Accord Fintech
7/09/2023 12:47:41 PM
Buy Jamna Auto Industries Ltd For Target Rs.135 - ICICI Direct Proxy infra play, high return ratios, inexpensive valuations… About the stock: Jamna Auto Industries Ltd (JAI), headquartered in Delhi, is a manufacturer of suspension products primarily leaf & parabolic springs for Commercial Vehicles (largely M&HCV space). It has 10 Manufacturing plants spread across the country, each in close proximity to CV OEMs’, with installed capacity of ~3,00,000 metric tonnes. • FY23 sales product mix: Existing Products: 56%; New Produ...
Buy Jamna Auto Industries Ltd For Target Rs.135 - ICICI Direct
Buy Jamna Auto Industries Ltd For Target Rs.135 - ICICI Direct
Source: ICICI Direct
28/08/2023 11:37:55 AM
Sandhar Technologies jumps as its arm commissions Manufacturing Plant at Mysore Sandhar Technologies is currently trading at Rs. 402.60, up by 29.90 points or 6.88% from its previous closing of Rs. 376.70 on the BSE. The scrip opened at Rs. 391.10 and has touched a high and low of Rs. 422.00 and Rs. 385.35 respectively. So far 87315 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 422.00 on 24-Aug-2023 and a 52 week low of Rs. 186.10 on 03-Apr-2023. Last one week high and low of the scrip s...
Sandhar Technologies jumps as its arm commissions Manufacturing Plant at Mysore
Sandhar Technologies jumps as its arm commissions Manufacturing Plant at Mysore
Source: Accord Fintech
24/08/2023 10:39:08 AM
Reduce Bosch Ltd For Target Rs.17,599 - ICICI Securities Another quarter of subdued profitability Bosch India’s (BOS) Q1FY24 EBITDAM at 11.3% (down 160bps QoQ) missed consensus and our estimate of ~12.5%. This was because higher mix of traded goods pulled down GM and new business-related expenses increased other expenses, thus impacting overall profitability. Decline in EBITDAM by 160bps QoQ is despite delivering record-high revenue during the quarter driven by increased sales of exhaust gas system components in PVs/CVs along with higher r...
Reduce Bosch Ltd For Target Rs.17,599 - ICICI Securities
Reduce Bosch Ltd For Target Rs.17,599 - ICICI Securities
Source: ICICI Securities
22/08/2023 1:12:59 PM
Small Cap : Buy Mahindra CIE Automotive Ltd For Target Rs. 576 - Geojit Financial Re-rating in valuation. CIE Automotive India Ltd. (CIE) is the part of Spain -based, top global forging player with a strong presence in both Europe & India. Currently, 60%of the revenue comes from India, while the rest is from Europe. • We believe the current growth story in the domestic market and the focus on building the EV product portfolio and operation performance in the European business are likely to push the margin forward. • Despite lower sales due to higher ...
Small Cap : Buy Mahindra CIE Automotive Ltd For Target Rs. 576 - Geojit Financial
Small Cap : Buy Mahindra CIE Automotive Ltd For Target Rs. 576 - Geojit Financial
Source: Geojit Financial Services
18/08/2023 3:25:15 PM
Buy Samvardhana Motherson International Ltd For Target Rs.115 - Motilal Oswal Financial Services Guides for capex of up to INR33b in FY24 * MOTHERSO reported a healthy 1QFY24 performance as EBITDA grew ~72% YoY to INR19.2b (est. INR16.9b), led by operating efficiency and a softening in RM/energy prices. We believe the company should continue to benefit substantially from easing supply-side issues and receding cost headwinds, leading to strong growth and balance sheet deleverage. * We have increased our FY24E EPS by 6% to factor in a better operating performance across businesses an...
Buy Samvardhana Motherson International Ltd For Target Rs.115 - Motilal Oswal Financial Services
Buy Samvardhana Motherson International Ltd For Target Rs.115 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
18/08/2023 12:46:09 PM
Uno Minda shines on the BSE Uno Minda is currently trading at Rs. 641.00, up by 26.90 points or 4.38% from its previous closing of Rs. 614.10 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 660.30 and Rs. 620.00 respectively. So far 122714 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 660.30 on 17-Aug-2023 and a 52 week low of Rs. 433.00 on 24-Mar-2023. Last one week high and low of the scrip stood at Rs....
Uno Minda shines on the BSE
Uno Minda shines on the BSE
Source: Accord Fintech
17/08/2023 10:39:09 AM
Uno Minda climbs on commissioning two new plants for manufacturing of EV components UNO Minda is currently trading at Rs. 621.50, up by 37.80 points or 6.48% from its previous closing of Rs. 583.70 on the BSE. The scrip opened at Rs. 584.00 and has touched a high and low of Rs. 624.55 and Rs. 582.00 respectively. So far 73875 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 624.55 on 16-Aug-2023 and a 52 week low of Rs. 433.00 on 24-Mar-2023. Last one week high and low of the scrip stood at Rs. ...
Uno Minda climbs on commissioning two new plants for manufacturing of EV components
Uno Minda climbs on commissioning two new plants for manufacturing of EV components
Source: Accord Fintech
16/08/2023 3:48:50 PM
Buy Samvardhana Motherson International Ltd For Target Rs.121 - Yes Securities Key global business continues to deliver Valuation and View Samvardhana Motherson (MOTHERSON) 1QFY24 performance continue to be healthy as reflected in the healthy revenue growth of 25.5% YoY at Rs224.6b (mostly organic as share of recent acquisition was Rs260m). The underlying industry growth volumes for global light vehicles segment grew ~16% YoY in 1QFY24. This was led by growth across business segments such as wiring harness revenues grew 25% YoY, SMP +27% and SMR at +32% YoY. Co co...
Buy Samvardhana Motherson International Ltd For Target Rs.121 - Yes Securities
Buy Samvardhana Motherson International Ltd For Target Rs.121 - Yes Securities
Source: Yes Securities Ltd
16/08/2023 1:04:30 PM
Reduce Siemens Ltd For Target Rs.3,554 - Yes Securities Another strong quarter; positives priced in Our view Siemens Ltd (SIEM) reported a healthy quarter led by broad-based revenue growth and ~200bps YoY expansion in EBITDA margin. A double digit revenue growth in both Smart Infra and DI, was accompanied by a sustained meteoric growth in Mobility (+48% YoY, +47% YTD) segment. While order inflow growth (+5% YoY) moderated on a high base, ordering pipeline remains robust driven by its strong positioning in mobility, infrastructure and energy ...
Reduce Siemens Ltd For Target Rs.3,554 - Yes Securities
Reduce Siemens Ltd For Target Rs.3,554 - Yes Securities
Source: Yes Securities Ltd
14/08/2023 3:13:05 PM
Reduce Bharat Forge Ltd For Target Rs. 899 - ICICI Securities All-round earnings beat; valuations already capturing robust outlook Bharat Forge’s (BHFC) Q1FY24 standalone EBITDA margin was resilient at 26%, though EU operations turned EBITDA positive to 4.4% as against being in loss last quarter. Standalone revenue beat expectations despite this being a weak quarter for domestic CVs, with industrial exports driven by defence business execution driving revenue up QoQ as against CV segment exports remaining flattish QoQ. We are building in 14% vo...
Reduce Bharat Forge Ltd For Target Rs. 899 - ICICI Securities
Reduce Bharat Forge Ltd For Target Rs. 899 - ICICI Securities
Source: ICICI Securities
14/08/2023 2:34:38 PM
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain Bharat Forge is currently trading at Rs. 949.65, up by 44.70 points or 4.94% from its previous closing of Rs. 904.95 on the BSE. The scrip opened at Rs. 904.90 and has touched a high and low of Rs. 951.05 and Rs. 887.55 respectively. So far 96776 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 951.05 on 09-Aug-2023 and a 52 week low of Rs. 677.85 on 29-Sep-2022. Last one week high and low of the scrip stood at R...
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain
Source: Accord Fintech
9/08/2023 3:11:54 PM
Neutral Escorts Kubota Ltd For Target Rs. 2,450 - Motilal Oswal Financial Services Ltd * 1QFY24 results were better across all fronts, led by multiple levers, such as better ASPs, gross margin benefits, and cost-control measures. Consequently, EBITDA margin came in at 14% (vs. est. 10.8%). The management has guided for i) low-mid single-digit tractor volume growth in FY24E and ii) sustenance of EBITDA margin for the coming quarters. * We raise our FY24E/FY25E EPS by 21.4%/9.3% to factor in for margin expansions and high ‘other income’. Moreover, we have increased...
Neutral Escorts Kubota Ltd For Target Rs. 2,450 - Motilal Oswal Financial Services Ltd
Neutral Escorts Kubota Ltd For Target Rs. 2,450 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
5/08/2023 11:38:00 AM
Add Sona BLW Precision Forgings Ltd For Target Rs. 654 - Motilal Oswal Financial Services Ltd Valuation and View Sona BLW (SONACOMS) 1QFY24 results were better as while revenues were in-line, EBITDA/Adj PAT exceeded our/street estimates by 5-7%. EBITDA margins came in better at 27.7% (8 quarter high, est 26%, +80bp QoQ). This was led by favorable product mix as RM remained stable QoQ. On the positive side, the key highlight of the quarter was the new order wins in differential assembly for, 1) class 5 eCV (from new North American customer worth Rs4.05b with SOP by 4QFY25) and 2) Gl...
Add Sona BLW Precision Forgings Ltd For Target Rs. 654 - Motilal Oswal Financial Services Ltd
Add Sona BLW Precision Forgings Ltd For Target Rs. 654 - Motilal Oswal Financial Services Ltd
Source: Yes Securities Ltd
5/08/2023 9:20:06 AM
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Ltd Enkei Wheels (India) Ltd reported a quarterly revenue of Rs. 185.9 cr for Q2CY23, up by 10.4% YoY and 39.0% on a QoQ basis. On the back of easing raw material prices, auto-ancillary companies like EWIL have witnessed a turnaround in margin pressure. From a QoQ as well as a YoY standpoint, the company has posted robust sales growth as well as PAT margins. Finance costs include foreign exchange gains, related to borrowings whose foreign exchange losses were previously considered as adjustmen...
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Ltd
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Ltd
Source: Sushil Finance Ltd
4/08/2023 5:39:41 PM
SKF India gains on reporting 20% rise in Q1 consolidated net profit SKF India is currently trading at Rs. 5237.30, up by 94.30 points or 1.83% from its previous closing of Rs. 5143.00 on the BSE. The scrip opened at Rs. 5230.10 and has touched a high and low of Rs. 5301.00 and Rs. 5179.95 respectively. So far 1039 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5528.90 on 01-Aug-2023 and a 52 week low of Rs. 3961.00 on 28-Mar-2023. Last one week high and low of the scrip stood ...
SKF India gains on reporting 20% rise in Q1 consolidated net profit
SKF India gains on reporting 20% rise in Q1 consolidated net profit
Source: Accord Fintech
3/08/2023 11:23:37 AM
SKF India announces Q1 FY 2023-24 financial results The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings and units, seals, lubrication, condition monitoring and services, today approved the unaudited financial results for the first quarter ended June 30, 2023.  The financial highlights are as given below:   * The Revenue from operations of the Company for the quarter was at Rs 11,496 million as compared to Rs 10,547 million in the previous...
SKF India announces Q1 FY 2023-24 financial results
SKF India announces Q1 FY 2023-24 financial results
Source: PR Agency
2/08/2023 4:16:51 PM
SSWL soars on bagging exports order for OTR steel wheels for OEM Steel Strips Wheels is currently trading at Rs. 251.05, up by 11.10 points or 4.63% from its previous closing of Rs. 239.95 on the BSE. The scrip opened at Rs. 240.05 and has touched a high and low of Rs. 254.75 and Rs. 240.05 respectively. So far 21011 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 258.10 on 26-Jul-2023 and a 52 week low of Rs. 126.20 on 30-Jan-2023. Last one week high and low of the scrip sto...
SSWL soars on bagging exports order for OTR steel wheels for OEM
SSWL soars on bagging exports order for OTR steel wheels for OEM
Source: Accord Fintech
2/08/2023 12:26:36 PM
Add Sona BLW Precision Forgings Ltd For Target Rs.654 - Yes Securities Ltd Valuation and View Sona BLW (SONACOMS) 1QFY24 results were better as while revenues were in-line, EBITDA/Adj PAT exceeded our/street estimates by 5-7%. EBITDA margins came in better at 27.7% (8 quarter high, est 26%, +80bp QoQ). This was led by favorable product mix as RM remained stable QoQ. On the positive side, the key highlight of the quarter was the new order wins in differential assembly for, 1) class 5 eCV (from new North American customer worth Rs4.05b with SOP by 4QFY25) and 2) Gl...
Add Sona BLW Precision Forgings Ltd For Target Rs.654 - Yes Securities Ltd
Add Sona BLW Precision Forgings Ltd For Target Rs.654 - Yes Securities Ltd
Source: Yes Securities Ltd
1/08/2023 3:31:55 PM
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 600 - Motilal Oswal Financial Services Ltd Strong growth in ICE segment | EU recovers strongly, Asia declines * SONACOMS’ 1QFY24 operating performance was in line. Its revenue/ EBITDA grew 24%/43% YoY. The company has won a new order worth INR13b in 1QFY24 (total order book was at INR220b) and salience of EV in order book has risen to 78%. Conventional start-motor is now just 11% of revenue. * We raise our FY24E/25E EPS by ~4%/2.5% to factor in a healthy order book execution and higher margins. Maintain Neutral with a TP o...
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 600 - Motilal Oswal Financial Services Ltd
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 600 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
1/08/2023 2:33:32 PM
Buy Ramkrishna Forgings Ltd For Target Rs. 555 - Emkay Global Financial Services Ltd Ramkrishna Forgings (RKFL) reported a strong Q1FY24 performance, with revenue up 28% YoY (despite Q1 being seasonally weak; flat QoQ) and 25% YoY rise in volumes on stronger exports. RKFL is undertaking several initiatives (refer to our report) to structurally boost its growth prospects, thus moving into higher value-add assemblies and diversifying by exploring complementary products & assemblies, apart from future-proofing itself in the EV-shift together with high focus on BS deleveragin...
Buy Ramkrishna Forgings Ltd For Target Rs. 555 - Emkay Global Financial Services Ltd
Buy Ramkrishna Forgings Ltd For Target Rs. 555 - Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
28/07/2023 2:31:11 PM
Buy Craftsman automation Ltd For Target Rs.5,338 - LKP Securities Craftsman Automation Ltd (CAL)’s Q1 FY24 numbers were in line with our expectations. Standalone revenues grew by 12% yoy and declined by 3.8% qoq to ?7.56bn mainly on growth seen in Power Train and Aluminium Products segments. Power train business expanded 10% yoy riding on PV resilience. The segmental EBIT margins were reported at 21.9% v/s 27.4% yoy and 23.6% qoq. Automotive Aluminum products business revenues witnessed a sharp rise of 21% yoy and 5% qoq to ?2.07bn as the segment enco...
Buy Craftsman automation Ltd For Target Rs.5,338 - LKP Securities
Buy Craftsman automation Ltd For Target Rs.5,338 - LKP Securities
Source: LKP Securities Ltd
26/07/2023 12:17:57 PM
Endurance Technologies gains on acquiring additional stake in Maxwell Energy Systems Endurance Technologies is currently trading at Rs. 1708.40, up by 8.95 points or 0.53% from its previous closing of Rs. 1699.45 on the BSE. The scrip opened at Rs. 1704.85 and has touched a high and low of Rs. 1714.30 and Rs. 1696.90 respectively. So far 147 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1738.35 on 17-Jul-2023 and a 52 week low of Rs. 1171.60 on 28-Mar-2023. Last one week high and low of the s...
Endurance Technologies gains on acquiring additional stake in Maxwell Energy Systems
Endurance Technologies gains on acquiring additional stake in Maxwell Energy Systems
Source: Accord Fintech
18/07/2023 10:30:58 AM
Gabriel India trades marginally higher on incorporating wholly owned subsidiary Gabriel India is currently trading at Rs. 203.40, up by 0.40 points or 0.20% from its previous closing of Rs. 203.00 on the BSE. The scrip opened at Rs. 205.70 and has touched a high and low of Rs. 205.70 and Rs. 202.75 respectively. So far 1766 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 208.40 on 12-Jul-2023 and a 52 week low of Rs. 127.80 on 27-Jul-2022. Last one week high and low of the scrip stood at Rs...
Gabriel India trades marginally higher on incorporating wholly owned subsidiary
Gabriel India trades marginally higher on incorporating wholly owned subsidiary
Source: Accord Fintech
17/07/2023 10:25:34 AM
Elgi Equipments touches 52-week high on getting LOA from Siemens Elgi Equipments is currently trading at Rs. 613.70, up by 67.95 points or 12.45% from its previous closing of Rs. 545.75 on the BSE. The scrip opened at Rs. 558.05 and has touched a high and low of Rs. 619.00 and Rs. 557.80 respectively. So far 256647 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 619.00 on 12-Jul-2023 and a 52 week low of Rs. 353.80 on 26-Jul-2022. Last one week high and low of the scrip stood...
Elgi Equipments touches 52-week high on getting LOA from Siemens
Elgi Equipments touches 52-week high on getting LOA from Siemens
Source: Accord Fintech
12/07/2023 10:51:24 AM
Auto & Auto Ancillaries Q1 Preview: 2-Wheelers to drive continued healthy performance Emkay Global Financial Services has released a preview research note on the auto and ancillaries sector in Q1. Emkay Global expects the auto sector ( their coverage companies excluding Tata Motors) to report 17% YoY revenue growth in Q1FY24, led by healthy growth across segments, barring muted growth in battery companies. Two wheelers The domestic 2-Wheeler industry’s volumes likely improved by ~10% YoY in Q1, primarily on account of continued and healthy demand from the urban...
Auto & Auto Ancillaries Q1 Preview: 2-Wheelers to drive continued healthy performance
Auto & Auto Ancillaries Q1 Preview: 2-Wheelers to drive continued healthy performance
Source: Emkay Global Financial Services
11/07/2023 6:18:57 PM
Auto & auto ancillaries Sector Update : Improved profitability to drive robust YoY earnings growth By ICICI Securities We expect Q1FY24E to be a robust quarter for our auto coverage universe led by YoY revenue/EBITDA/PAT growth of ~15%/~30%/~50%, respectively. More than 15% volume growth in both 2Ws, 4Ws (each) and reversion in raw material costs would be the key triggers for the impressive sectoral earnings growth, we believe. For 2W OEMs, improvement in export volume, better operating leverage and improved mix would likely drive robust earnings growth, both YoY and QoQ. CV-centric players may deliver weaker...
Auto & auto ancillaries Sector Update : Improved profitability to drive robust YoY earnings growth By ICICI Securities
Auto & auto ancillaries Sector Update : Improved profitability to drive robust YoY earnings growth By ICICI Securities
Source: ICICI Securities Ltd
8/07/2023 10:08:18 AM
Sona BLW Precision Forgings climbs on achieving production milestone of 5 million differential assemblies Sona BLW Precision Forgings is currently trading at Rs. 537.25, up by 13.45 points or 2.57% from its previous closing of Rs. 523.80 on the BSE. The scrip opened at Rs. 528.00 and has touched a high and low of Rs. 540.05 and Rs. 524.00 respectively. So far 85068 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 607.65 on 04-Aug-2022 and a 52 week low of Rs. 397.35 on 26-Dec-2022. Last one week high and low of the ...
Sona BLW Precision Forgings climbs on achieving production milestone of 5 million differential assemblies
Sona BLW Precision Forgings climbs on achieving production milestone of 5 million differential assemblies
Source: Accord Fintech
7/07/2023 3:47:26 PM
Buy Samvardhana Motherson International Target Rs. 98 - ICICI Securities Bettering portfolio via Yachiyo’s 4W biz acquisition; deal valuation attractive Samvardhana Motherson (SAMIL) has entered into an agreement with Honda Motors to acquire 81% stake in Yachiyo Industry's 4W component business (Honda group currently owns 51% stake in it and is a publicly listed entity) for an equity consideration of Euro145mn, with the entity being net cash. With 9% share in global car sunroof market and catering across key geographies, we believe this acquisition wo...
Buy Samvardhana Motherson International Target Rs. 98 - ICICI Securities
Buy Samvardhana Motherson International Target Rs. 98 - ICICI Securities
Source: ICICI Securities Ltd
6/07/2023 11:28:37 AM
SSWL trades higher on reporting 9% growth in net turnover in June Steel Strips Wheels is currently trading at Rs. 208.40, up by 3.60 points or 1.76% from its previous closing of Rs. 204.80 on the BSE. The scrip opened at Rs. 205.05 and has touched a high and low of Rs. 213.20 and Rs. 204.80 respectively. So far 35435 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 214.90 on 28-Jun-2023 and a 52 week low of Rs. 126.20 on 30-Jan-2023. Last one week high and low of the scrip stoo...
SSWL trades higher on reporting 9% growth in net turnover in June
SSWL trades higher on reporting 9% growth in net turnover in June
Source: Accord Fintech
3/07/2023 2:27:32 PM
Shivam Autotech surges on planning to raise funds via NCDs Shivam Autotech is currently trading at Rs. 25.21, up by 0.40 points or 1.61% from its previous closing of Rs. 24.81 on the BSE. The scrip opened at Rs. 25.50 and has touched a high and low of Rs. 25.50 and Rs. 25.05 respectively. So far 3218 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 50.00 on 04-Aug-2022 and a 52 week low of Rs. 20.50 on 31-Mar-2023. Last one week high and low of the scrip stood at Rs. 26....
Shivam Autotech surges on planning to raise funds via NCDs
Shivam Autotech surges on planning to raise funds via NCDs
Source: Accord Fintech
30/06/2023 2:28:21 PM
Sona BLW Precision gains on incorporating wholly owned subsidiary in Mexico Sona BLW Precision Forgings is currently trading at Rs. 520.15, up by 1.15 points or 0.22% from its previous closing of Rs. 519.00 on the BSE. The scrip opened at Rs. 519.05 and has touched a high and low of Rs. 529.65 and Rs. 518.85 respectively. So far 23977 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 607.65 on 04-Aug-2022 and a 52 week low of Rs. 397.35 on 26-Dec-2022. Last one week high and low of the s...
Sona BLW Precision gains on incorporating wholly owned subsidiary in Mexico
Sona BLW Precision gains on incorporating wholly owned subsidiary in Mexico
Source: Accord Fintech
28/06/2023 2:06:25 PM
Buy Sona BLW Precision Forgings Ltd For Target Rs.624 - Yes Securities Ltd Sona BLW Precision Forgings (Sona) is a multi-product, multi geography auto ancillary company which is into manufacturing products like differential gears (32% of revenue), differential assemblies (23%), starter motors for hybrids and ICE (21% and 15%, respectively), traction motors for two-wheeler electric vehicles (4%) and others (5%). Exports account for 71%, with the U.S. and Europe being the largest markets (43% and 20% of total exports, respectively). Strong margin profile, high and inc...
Buy Sona BLW Precision Forgings Ltd For Target Rs.624 - Yes Securities Ltd
Buy Sona BLW Precision Forgings Ltd For Target Rs.624 - Yes Securities Ltd
Source: LKP Securities Ltd
26/06/2023 1:21:21 PM
Buy Steel Strips Wheels Limited For Target Rs.260 - ICICI Direct Stepping up play in alloy wheel business; capital efficient business model; trades at inexpensive valuations…   About the stock: Steel Strips Wheels Ltd. (SSWL), is a Chandigarh based company involved in designing and manufacturing of automotive wheels - both steel and alloy wheels. It currently has four plants in India with total production capacity of ~2.3 crore wheels per annum (including ~0.3 crore wheels per annum for alloy wheels). • FY23 revenue mix: Alloy whe...
Buy Steel Strips Wheels Limited For Target Rs.260 - ICICI Direct
Buy Steel Strips Wheels Limited For Target Rs.260 - ICICI Direct
Source: ICICI Direct
26/06/2023 12:42:56 PM
Auto component makers stocks gain despite weakness over Dalal Street Auto component makers’ stocks gained as Crisil Ratings has said that automotive components makers in India are set to register 10-12 per cent growth in revenue during the financial year 2023-24 (FY24). It attributed the growth to continued domestic growth -- buoyed by robust demand from automobile manufacturers and aftersales demand from services.  It stated this is despite exports continuing to remain sluggish. Further, it noted moderation in prices of key raw materials will su...
Auto component makers stocks gain despite weakness over Dalal Street
Auto component makers stocks gain despite weakness over Dalal Street
Source: Accord Fintech
23/06/2023 4:29:30 PM
Buy Mahindra CIE Automotive For Target Rs.553 - ICICI Securities A mix of diversity, consistency and efficiency   We hosted Mahindra CIE (MACA) management in our annual investor conference at Singapore. Following are the key takeaways: 1) being a tier-2 B2B component supplier, MACA’s core focus is on process efficiency and automation in order to maximize profitability and, at the same time, give customers competitive pricing; 2) management is confident of benefiting from the EV transition across segments in India and maintain 8% value grow...
Buy Mahindra CIE Automotive For Target Rs.553 - ICICI Securities
Buy Mahindra CIE Automotive For Target Rs.553 - ICICI Securities
Source: ICICI Securities Ltd
14/06/2023 12:59:17 PM
Buy Gabriel India Ltd For Target Rs.187 - Sushil Finance We have coverage on Gabriel India Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.201.   With the recent run-up in the share price, (25% return) we are now changing our rating on the stock to Neutral and recommend our investors start booking profits.       To Read Complete Report & Disclaimer Click Here   Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE...
Buy Gabriel India Ltd For Target Rs.187 - Sushil Finance
Buy Gabriel India Ltd For Target Rs.187 - Sushil Finance
Source: Sushil Finance Ltd
2/06/2023 3:19:27 PM
Buy Endurance Technologies Ltd For Target Rs 1,665 - Yes Securities Valuation and View – Healthy order wins to help drive outperformance Endurance (ENDU) 4QFY23 consol results were better-than-expected as margins in Europe business at 17.8% (vs 12.6% YoY) outpaced our estimates while margins in S/A at 11.9% (+80bp QoQ, est ~12%) were in-line. Europe margins recovery was led by falling energy prices, and energy cost related compensation from government (Italian government) and customers. New order wins of Rs9.35b/EUR84m in FY23 (v/s Rs8.8b/EUR67.4m in...
Buy Endurance Technologies Ltd For Target Rs 1,665 - Yes Securities
Buy Endurance Technologies Ltd For Target Rs 1,665 - Yes Securities
Source: Yes Securities Ltd
2/06/2023 2:26:32 PM
Buy Samvardhana Motherson International Ltd For Target .100 - Motilal Oswal Financial Services Raises capex to cater to growth in India; SMRPBV order book at EUR19.7b * MOTHERSO’s 4QFY23 performance significantly beat our estimates, driven by improving supplies across key markets, resulting in margin gains across businesses. MOTHERSO will continue to benefit substantially from easing supply-side issues and receding cost headwinds, leading to strong growth and balance sheet deleverage. * We maintain our FY24/FY25 EPS estimates and our BUY rating with a TP of INR100 (premised...
Buy Samvardhana Motherson International Ltd For Target .100 - Motilal Oswal Financial Services
Buy Samvardhana Motherson International Ltd For Target .100 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2/06/2023 1:29:33 PM
SSWL rides high on reporting 10% growth in net turnover in May Steel Strips Wheels is currently trading at Rs. 154.10, up by 6.45 points or 4.37% from its previous closing of Rs. 147.65 on the BSE. The scrip opened at Rs. 150.00 and has touched a high and low of Rs. 154.90 and Rs. 148.15 respectively. So far 12006 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 184.90 on 06-Sep-2022 and a 52 week low of Rs. 126.20 on 30-Jan-2023. Last one week high and low of the scrip stoo...
SSWL rides high on reporting 10% growth in net turnover in May
SSWL rides high on reporting 10% growth in net turnover in May
Source: Accord Fintech
1/06/2023 1:52:01 PM
Escorts Kubota moves up as its agri machinery segment reports 8.9% rise in tractors sales in May Escorts Kubota is currently trading at Rs. 2189.85, up by 16.75 points or 0.77% from its previous closing of Rs. 2173.10 on the BSE. The scrip opened at Rs. 2198.10 and has touched a high and low of Rs. 2214.00 and Rs. 2177.15 respectively. So far 6483 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2358.75 on 01-Dec-2022 and a 52 week low of Rs. 1400.00 on 30-Jun-2022. Last one week high and low of the scrip s...
Escorts Kubota moves up as its agri machinery segment reports 8.9% rise in tractors sales in May
Escorts Kubota moves up as its agri machinery segment reports 8.9% rise in tractors sales in May
Source: Accord Fintech
1/06/2023 10:02:34 AM
Buy UNO Minda Ltd For Target Rs. 601 - Geojit Financial Services Ltd Increase in kit value per vehicle. UNO Minda Ltd. (UML) is a diversified auto ancillary supplier, manufacturing products such as switches, horns & lights. UML holds a leadership position in the switch business with a market share of 67% * Q4FY23 revenue came marginally above expectations, registering a growth of 20%YoY, outperforming the industry growth of %YoY. * This was mainly on account of new customer additions in 2W/4W, new contents & leveraging the client base. * EB...
Buy UNO Minda Ltd For Target Rs. 601 - Geojit Financial Services Ltd
Buy UNO Minda Ltd For Target Rs. 601 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
26/05/2023 12:37:23 PM
Buy Exide Industries Ltd For Target Rs.235 - Yes Securities EXID’s 4QFY23 results was a weak as EBITDA/Adj.PAT missed our/street estimates by 12-18%. This was led by weak gross margins at 29.8% (-240bp QoQ, est 31.3%) impacting EBITDA margins, which came in at 10.4% (-140bp QoQ, est 11.9%). The management indicated ~2% margins impact as RM basket increased ~4% QoQ. However, going ahead led by digital, cost control initiatives and RM decline, margins are expected to expand. Moderate growth in revenues at 4% YoY and QoQ was explained by higher gro...
Buy Exide Industries Ltd For Target Rs.235 - Yes Securities
Buy Exide Industries Ltd For Target Rs.235 - Yes Securities
Source: Yes Securities Ltd
24/05/2023 2:08:19 PM
Buy Ramkrishna Forgings Ltd For Target Rs.400 - ICICI Direct About the stock: Ramkrishna Forgings (RKF) is a Kolkata based forging company, incorporated in 1981. It has six manufacturing plants in India concentrated around Jamshedpur and Kolkata with installed capacity of 1,87,100 tonnes as on date. * FY23 mix: Asia 60%, Europe 15%, North America 25% * FY23 segment mix: auto ~79% (CV space); non-auto ~21% Q4FY23: RKF reported a healthy performance in Q4FY23. * Consolidated sales were up 14.7% QoQ to | 892 crore, with EBITDA at | 194 crore, ...
Buy Ramkrishna Forgings Ltd For Target Rs.400 - ICICI Direct
Buy Ramkrishna Forgings Ltd For Target Rs.400 - ICICI Direct
Source: ICICI Direct
23/05/2023 2:30:47 PM
Neutral Escorts Kubota Ltd For Target Rs. 2,001 - Yes Securities Valuation and View – Management guides for fast normalcy in margins Escorts Kubota (EKL) 4QFY23 results surprised positively where it exceeded our/street EBITDA/ Adj. PAT estimates by ~26%/22%. The entire beat is attributed to better than expected gross margins at 28.5% (est 26.2%, +300bp QoQ/ -140bp YoY). This led to ~24% QoQ growth in EBITDA at Rs2.35b (est/cons at Rs1.87b/Rs1.92b) with margins at 10.8% (est 8.7%, +240bp QoQ/ -270bp YoY). Tractors (71% EBIT contribution) ASP grew 1...
Neutral Escorts Kubota Ltd For Target Rs. 2,001 - Yes Securities
Neutral Escorts Kubota Ltd For Target Rs. 2,001 - Yes Securities
Source: Yes Securities
21/05/2023 3:04:11 PM
Buy Endurance Technologies Ltd For Target Rs 1,712 - LKP Securities Ltd Endurance Technologies (Endu) reported consolidated revenues of ?22.3 bn, up 6.6% qoq and 7.5% yoy. EBITDA margins came in at 11.9% in domestic business while European margins jumped to 15.4% aided by good order execution, Italian government incentives and operating leverage. The EBITDA margins at the domestic level were up 80 bps yoy as the positive impact of RM cost was seen in the quarter and also due to firmness in the domestic 2W volumes. Consol PAT grew flattish yoy at ?1.364, while EBI...
Buy Endurance Technologies Ltd For Target Rs 1,712 - LKP Securities Ltd
Buy Endurance Technologies Ltd For Target Rs 1,712 - LKP Securities Ltd
Source: LKP Securities Ltd
21/05/2023 11:18:07 AM
SKF India gains on inking pact to acquire stake in Clean Max Taiyo SKF India is currently trading at Rs. 4361.00, up by 13.60 points or 0.31% from its previous closing of Rs. 4347.40 on the BSE. The scrip opened at Rs. 4347.40 and has touched a high and low of Rs. 4396.25 and Rs. 4340.00 respectively. So far 354 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5170.85 on 22-Nov-2022 and a 52 week low of Rs. 3060.00 on 19-May-2022. Last one week high and low of the scrip stood a...
SKF India gains on inking pact to acquire stake in Clean Max Taiyo
SKF India gains on inking pact to acquire stake in Clean Max Taiyo
Source: Accord Fintech
16/05/2023 12:22:31 PM