News

Tube Investments of India moves up as its arm acquires 50% stake in Jayem Automotives Tube Investments of India is currently trading at Rs. 2787.75, up by 17.25 points or 0.62% from its previous closing of Rs. 2770.50 on the BSE. The scrip opened at Rs. 2765.40 and has touched a high and low of Rs. 2811.75 and Rs. 2765.40 respectively. So far 1366 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3394.00 on 23-Jun-2023 and a 52 week low of Rs. 2053.50 on 25-Aug-2022. Last one week high and low of t...
Tube Investments of India moves up as its arm acquires 50% stake in Jayem Automotives
Tube Investments of India moves up as its arm acquires 50% stake in Jayem Automotives
Source: Accord Fintech
25/08/2023 10:42:21 AM
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services RM prices to remain stable over next 2-3 quarters * 1QFY24 performance was a mixed bag as a softening in RM prices (down 2% QoQ) offset the impact of lower revenue. While EBITDA margin fully reflects the benefits of low RM costs, we expect margin to remain rangebound over the next few quarters, led by stable RM costs and a recovery in EU operations from 3Q onward. * APTY continues to focus on profitability and capital efficiency. We raise our FY24E EPS by 8% to factor in lower RM/intere...
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
13/08/2023 2:58:29 PM
India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand  Indian tyremaker MRF reported a more-than-five-fold surge in first-quarter earnings on Thursday, beating estimates, as raw material prices eased and demand for higher-priced vehicles from consumers in urban areas held steady. Standalone profit from continuous operations jumped 417% to 5.81 billion rupees ($70.21 million) for the quarter ended June, from 1.12 billion rupees, a year earlier, according to a regulatory filing. Analysts, on average, had expected a profit of almost 3.83...
India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand
India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand
Source: Reuters
3/08/2023 1:54:08 PM
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand Tyre manufacturer Goodyear India reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand. The Indian unit of U.S.-based Goodyear Tire and Rubber Co said standalone profit rose 4% to 392.6 million rupees ($4.8 million) in the first quarter. While revenue from operations fell about 12% to 7.2 billion rupees, that was more than offset by a roughly 13% drop in expenses due to lower raw material prices. Rub...
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand
Source: Reuters
2/08/2023 7:27:36 PM
CEAT catches speed on lining up capex of around Rs 750 crore for ongoing fiscal Ceat is currently trading at Rs. 2467.00, up by 33.05 points or 1.36% from its previous closing of Rs. 2433.95 on the BSE. The scrip opened at Rs. 2458.95 and has touched a high and low of Rs. 2475.00 and Rs. 2432.80 respectively. So far 3319 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2640.00 on 10-Jul-2023 and a 52 week low of Rs. 1230.00 on 29-Jul-2022. Last one week high and low of the scrip stood at Rs...
CEAT catches speed on lining up capex of around Rs 750 crore for ongoing fiscal
CEAT catches speed on lining up capex of around Rs 750 crore for ongoing fiscal
Source: Accord Fintech
31/07/2023 1:39:20 PM
Ceat moves higher on reporting many fold jump in Q1 consolidated net profit Ceat is currently trading at Rs. 2575.05, up by 98.05 points or 3.96% from its previous closing of Rs. 2477.00 on the BSE. The scrip opened at Rs. 2556.05 and has touched a high and low of Rs. 2592.50 and Rs. 2513.15 respectively. So far 54224 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2640.00 on 10-Jul-2023 and a 52 week low of Rs. 1200.00 on 26-Jul-2022. Last one week high and low of the scrip stood at R...
Ceat moves higher on reporting many fold jump in Q1 consolidated net profit
Ceat moves higher on reporting many fold jump in Q1 consolidated net profit
Source: Accord Fintech
26/07/2023 10:51:48 AM
Surya Roshni surges on targeting double-digit growth from lighting & consumer durable business in FY24 Surya Roshni is currently trading at Rs. 799.50, up by 7.10 points or 0.90% from its previous closing of Rs. 792.40 on the BSE. The scrip opened at Rs. 808.35 and has touched a high and low of Rs. 808.35 and Rs. 796.30 respectively. So far 3574 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 934.75 on 28-Jun-2023 and a 52 week low of Rs. 336.05 on 16-Aug-2022. Last one week high and low of the scrip stood at Rs...
Surya Roshni surges on targeting double-digit growth from lighting & consumer durable business in FY24
Surya Roshni surges on targeting double-digit growth from lighting & consumer durable business in FY24
Source: Accord Fintech
17/07/2023 1:20:29 PM
Tube Investments of India rises on eyeing to tap huge opportunity for electric tractors Tube Investments of India is currently trading at Rs. 3216.00, up by 74.15 points or 2.36% from its previous closing of Rs. 3141.85 on the BSE. The scrip opened at Rs. 3197.95 and has touched a high and low of Rs. 3233.70 and Rs. 3145.85 respectively. So far 6955 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3394.00 on 23-Jun-2023 and a 52 week low of Rs. 1958.60 on 11-Jul-2022. Last one week high and low of t...
Tube Investments of India rises on eyeing to tap huge opportunity for electric tractors
Tube Investments of India rises on eyeing to tap huge opportunity for electric tractors
Source: Accord Fintech
11/07/2023 3:49:11 PM
Company Update : JK Tyre and Industries Ltd by Yes Securities Targeting industry outperformance in FY24E View & Valuation We visited JKI’s TBR and PCR plant during our recent visit to Chennai. We believe, company to likely see revenue growth outperformance at 10-15% in FY24E (v/s high single digit growth as indicated by peers), led by commercialization of new capacities. JKI indicated continued improvement in return ratios led by margins expansion (product, RM and cost savings led) and moderate capex. Demand commentaries for domestic mar...
Company Update : JK Tyre and Industries Ltd by Yes Securities
Company Update : JK Tyre and Industries Ltd by Yes Securities
Source: Yes Securities Ltd
3/07/2023 2:45:25 PM
Company Update : Apollo Tyres Ltd by Yes Securities Aiming to elevate return profile over mid-term Valuation and View APTY in its analyst meet reiterated vision FY26 to achieve revenues of ~USD5b (v/s Rs3.1b in FY23), EBITDA margins of >15% (v/s ~13.5% in FY23), RoCE of 12-15% (v/s 10.1% in FY23). The management continues to hint towards moderate capex (~Rs11b of which Rs6.5b in India in FY24E). By FY26, APTY aims ROCE in the range of 12-15%. Net debt to EBITDA is expected to remain below 2x (1.4x in FY23). APTY is well placed with a ...
Company Update : Apollo Tyres Ltd by Yes Securities
Company Update : Apollo Tyres Ltd by Yes Securities
Source: Yes Securities Ltd
3/07/2023 2:31:10 PM
JK Tyre shines on completing first phase of capacity expansion at Madhya Pradesh facility JK Tyre & Industries is currently trading at Rs. 217.80, up by 10.40 points or 5.01% from its previous closing of Rs. 207.40 on the BSE. The scrip opened at Rs. 206.05 and has touched a high and low of Rs. 218.00 and Rs. 206.05 respectively. So far 160393 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 219.85 on 30-June-2022 and a 52 week low of Rs. 100.60 on 01-Jul-2022. Last one week high and low of the sc...
JK Tyre shines on completing first phase of capacity expansion at Madhya Pradesh facility
JK Tyre shines on completing first phase of capacity expansion at Madhya Pradesh facility
Source: Accord Fintech
30/06/2023 10:32:41 AM
Buy CEAT Ltd For Target Rs. 2,150 - JM Financial Key takeaways from Investor Day 2023 We recently attended CEAT’s Investor Day to understand company’s medium-term growth strategy. Over the next 3 years, the company aims to gain leadership position in PV replacement segment with 18-19% market share (15% in FY23) and targets c.400bps market share expansion in T&B replacement market. Medium-term focus is on growing OHT/PV exports and entering new export markets (incl. US). Near-term demand support is expected from OE segment...
Buy CEAT Ltd For Target Rs. 2,150 - JM Financial
Buy CEAT Ltd For Target Rs. 2,150 - JM Financial
Source: JM Financial Institutional Securities
29/06/2023 2:40:34 PM
Add Apollo Tyres Ltd For Target Rs. 450 - ICICI Securities Limited triggers left for further upside We visited the Andhra Pradesh facility of Apollo Tyres (APTY) and interacted with its management on business outlook and future plans. Following are the key takeaways: 1) Facility with ~350TPD capacity, making TBR and PCR with investment of Rs40bn for phase-1, is built on ~250acres of land and this land can take care of the brownfield expansion till ~1,000TPD; 2) the plant is well automated across stages of mixing, assembly, curing and material hand...
Add Apollo Tyres Ltd For Target Rs. 450 - ICICI Securities
Add Apollo Tyres Ltd For Target Rs. 450 - ICICI Securities
Source: ICICI Securities Ltd
29/06/2023 10:38:31 AM
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services Focus on improving profitability over market share gain Additional PCR capacity likely to emerge from FY26   Apollo Tyres (APTY) hosted an investor meet followed by the AP plant visit. The plant has dedicated lines for PCR and TBR products with a capacity of 15k and 3k tyres per day, respectively. Further, as the current facility for TBR/PCR is at the center of the 104 Hectare Greenfield campus, it has a scope to expand both on the left and right directions. Management discussed...
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services
Buy Apollo Tyres Ltd For Target Rs.500 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
28/06/2023 1:16:54 PM
JK Tyre & Industries inches up after Ind-Ra upgrades its long-term issuer rating to low credit risk category JK Tyre & Industries is currently trading at Rs. 195.30, up by 0.05 points or 0.03% from its previous closing of Rs. 195.25 on the BSE. The scrip opened at Rs. 197.70 and has touched a high and low of Rs. 199.50 and Rs. 194.15 respectively. So far 104598 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 213.50 on 09-Dec-2022 and a 52 week low of Rs. 99.15 on 22-Jun-2022. Last one week high and low of the scrip...
JK Tyre & Industries inches up after Ind-Ra upgrades its long-term issuer rating to low credit risk category
JK Tyre & Industries inches up after Ind-Ra upgrades its long-term issuer rating to low credit risk category
Source: Accord Fintech
22/06/2023 3:46:21 PM
Buy Tube Investments of India Limited For Target Rs.3,560 - Motilal Oswal Financial Services Recovery in Engineering business expected in FY24 EV businesses moving from investment to commercialization phase We met with the senior management team of Tube Investments (TIINDIA) to get an update on the company’s core businesses and TI-2 strategy. It expects a good recovery in the Engineering business in terms of revenue and margins. The Metal Formed business is expected to grow 10%, assuming no material recovery in the Railway business. EV businesses are moving from the investme...
Buy Tube Investments of India Limited For Target Rs.3,560 - Motilal Oswal Financial Services
Buy Tube Investments of India Limited For Target Rs.3,560 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
22/06/2023 1:10:01 PM
JK Tyre rating upgraded to `IND A+/Stable` by India Ratings India Ratings and Research (Ind-Ra) has upgraded JK Tyre & Industries Limited’s (JKTIL) Long-Term Issuer Rating to ‘IND A+’ from ‘IND A’. The rating outlook has also been revised to Stable from Negative. The rating reflects JK Tyre’s strong operational and financial performance. The upgrade echoes a significant improvement in the company’s credit metrics on account of improved profitability and better working capital management. &n...
JK Tyre rating upgraded to `IND A+/Stable` by India Ratings
JK Tyre rating upgraded to `IND A+/Stable` by India Ratings
Source: PR Agency
21/06/2023 4:26:25 PM
Buy CEAT Ltd For Target Rs.2,375 - Motilal Oswal Financial Services Strengthening market position with sustained profitability During CEAT's Analyst Meet, the management reiterated its aim of enhancing its market position through FY26 by 1) maintaining leadership in the 2W segment (28% market share now), 2) gaining market share in PV/CV to 18-19%/11-12% from 15%/7% now, and 3) doubling export revenue from INR20b currently. However, CEAT expects to continue to improve margins as it focuses on increasing its market share through premiumization and a bett...
Buy CEAT Ltd For Target Rs.2,375 - Motilal Oswal Financial Services
Buy CEAT Ltd For Target Rs.2,375 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
17/06/2023 10:19:53 AM
Kesoram Industries gains on aiming to scale up operations Kesoram Industries is currently trading at Rs. 63.75, up by 0.98 points or 1.56% from its previous closing of Rs. 62.77 on the BSE. The scrip opened at Rs. 62.74 and has touched a high and low of Rs. 64.45 and Rs. 62.50 respectively. So far 110357 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.20 on 04-May-2023 and a 52 week low of Rs. 44.25 on 16-Aug-2022. Last one week high and low of the scrip stood at R...
Kesoram Industries gains on aiming to scale up operations
Kesoram Industries gains on aiming to scale up operations
Source: Accord Fintech
15/06/2023 11:45:26 AM
Buy APL Apollo Tubes For Target Rs.1,490 - Motilal Oswal Financial Services Structural tubes gaining traction under government schemes  APL Apollo Tubes (APAT) remains our top pick given its leadership position in the industry, which is witnessing growing applications, increasing adoption for government projects, rising consumption of structural steel tubes in public infrastructure, residential and commercial buildings, warehouses, factories, agriculture and other construction works.  *APAT’s structural steel tube was approved for one of the rai...
Buy APL Apollo Tubes For Target Rs.1,490 - Motilal Oswal Financial Services
Buy APL Apollo Tubes For Target Rs.1,490 - Motilal Oswal Financial Services
Source: Motilal Oswal
7/06/2023 4:48:01 PM
Buy JK Tyre and Industries Ltd For Target Rs.210 - ICICI Direct High costs inventory dents Q4FY23, performance set to meaningfully improve, going forward…   About the stock: JK Tyre (JKT) is a leading tyre manufacturer with annual capacity pegged at 6.2 lakh MT. It serves various automotive segments via India, Mexico plants with dominance in truck/bus radial (TBR) space domestically. * FY23 segment mix – truck/bus ~54%, PCR ~28%, 2-W, 3-W ~4% * FY23 channel mix – aftermarket ~60%, OEM ~23%, exports ~17%   Q4F...
Buy JK Tyre and Industries Ltd For Target Rs.210 - ICICI Direct
Buy JK Tyre and Industries Ltd For Target Rs.210 - ICICI Direct
Source: ICICI Direct
7/06/2023 2:34:11 PM
Stock of the day : Buy Apollotyre Ltd For Target Rs.408 - Religare Broking Apollotyre Ltd * We’re seeing consistent buying in the tyre stocks and Apollo Tyre is leading from the front. * It has witnessed a fresh breakout from a consolidation range and is trading at a record high. * The chart pattern and indications from other indicators are pointing towards a steady up move. * We thus recommend creating fresh longs in the mentioned range. Buy Apollotyre Ltd CMP 389.20 ; Range 388-390; SL 379; Target 408     To Re...
Stock of the day : Buy Apollotyre Ltd For Target Rs.408 - Religare Broking
Stock of the day : Buy Apollotyre Ltd For Target Rs.408 - Religare Broking
Source: Religare Broking Ltd
26/05/2023 11:16:11 AM
India's JK Tyre reports nearly three-fold increase in Q4 profit BENGALURU - India's JK Tyre & Industries Ltd on Wednesday reported a nearly three-fold rise in fourth-quarter profit, as raw material costs fell and domestic demand saw a boost. The tyre-maker's consolidated net profit rose to 1.08 billion rupees ($13.2 million) in the quarter ended March 31, from 402 million rupees a year earlier, it said in an exchange filing. The company, which supplies to Maruti Suzuki India Ltd and Tata Motors Ltd, posted an almost 10% growth in revenue...
India's JK Tyre reports nearly three-fold increase in Q4 profit
India's JK Tyre reports nearly three-fold increase in Q4 profit
Source: Reuters
17/05/2023 6:59:32 PM
Tube Investments of India inches up on incorporating subsidiary Tube Investments of India is currently trading at Rs. 2748.40, up by 2.95 points or 0.11% from its previous closing of Rs. 2745.45 on the BSE. The scrip opened at Rs. 2700.10 and has touched a high and low of Rs. 2787.70 and Rs. 2700.10 respectively. So far 966 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3046.25 on 20-Dec-2022 and a 52 week low of Rs. 1458.70 on 20-Jun-2022. Last one week high and low of the...
Tube Investments of India inches up on incorporating subsidiary
Tube Investments of India inches up on incorporating subsidiary
Source: Accord Fintech
15/05/2023 10:19:13 AM
Buy APL Apollo Tubes Ltd For Target Rs.1,490 - Motilal Oswal Financial Services Strong demand drives volume growth * APAT reported a recovery in EBITDA/MT (up 3% YoY/10% QoQ) to INR4,970 on back of broad based improvements across the product portfolio, despite a lower VAP mix by 6pp YoY to 54% and higher costs for stabilizing the new Raipur plant. Volumes in 4QFY23 grew by 18% YoY/7% QoQ to 650KMT, ending FY23 with total sales volume of ~2.28MMT (up 30% YoY). * We maintain our FY24/FY25 earnings estimates as APAT is expected to maintain its growth trajectory on a s...
Buy APL Apollo Tubes Ltd For Target Rs.1,490 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd For Target Rs.1,490 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
14/05/2023 11:25:59 AM
India's Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand BENGALURU - Indian tyre maker Apollo Tyres Ltd. reported a nearly four-fold rise in fourth-quarter profit on Tuesday, beating estimates, aided by lower rubber costs and strong domestic auto sales. The company's consolidated profit nearly quadrupled to 4.27 billion rupees ($52.21 million) in the quarter ended March 31 from 1.13 billion rupees a year earlier. Analysts, on average, had estimated a profit of 3.44 billion rupees, according to Refinitiv IBES data. Softening rubber cost...
India's Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand
India's Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand
Source: Reuters
9/05/2023 8:25:49 PM
Ceat shines on reporting over 5-fold jump in Q4 consolidated net profit Ceat is currently trading at Rs. 1720.20, up by 65.00 points or 3.93% from its previous closing of Rs. 1655.20 on the BSE. The scrip opened at Rs. 1698.90 and has touched a high and low of Rs. 1747.90 and Rs. 1693.70 respectively. So far 36126 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1981.45 on 02-Dec-2022 and a 52 week low of Rs. 890.00 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs...
Ceat shines on reporting over 5-fold jump in Q4 consolidated net profit
Ceat shines on reporting over 5-fold jump in Q4 consolidated net profit
Source: Accord Fintech
5/05/2023 11:48:22 AM
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs Indian tyremaker CEAT Ltd reported a more-than-five-fold increase in its fourth-quarter profit on Thursday, aided by low raw material costs and strong domestic demand. CEAT's consolidated net profit rose to 1.34 billion rupees ($16.40 million) in the three months ended March 31, from 252.5 million rupees a year ago. Analysts, on average had expected a profit of 908.3 million rupees, according to Refinitiv IBES. Indian car and bike makers have reported strong domestic growth, whic...
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs
Source: Reuters
4/05/2023 7:44:03 PM
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services MRF likely to underperform peers due to weak competitive position * MRF’s 4QFY23 performance surprised positively as lower RM costs boosted EBITDA margin to 14.7% (est. 11.9%). EBITDA margin recovery is expected to continue in FY24 on the back of softening RM costs and operating leverage. * We upgrade FY24E/FY25E EPS by 16.6%/4.7% to factor in the benefits of lower RM costs, which will support margin. However, we maintain Sell with a revised TP of INR75,400 (18x Mar-25E EPS) as it...
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/05/2023 12:17:17 PM
MRF surges on reporting 2- fold jump in Q4 consolidated net profit MRF is currently trading at Rs. 95600.00, up by 2071.60 points or 2.21% from its previous closing of Rs. 93528.40 on the BSE. The scrip opened at Rs. 93300.00 and has touched a high and low of Rs. 95600.00 and Rs. 93060.30 respectively. So far 704 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95954.35 on 07-Nov-2022 and a 52 week low of Rs. 65900.05 on 17-Jun-2022. Last one week high and low of the scrip stoo...
MRF surges on reporting 2- fold jump in Q4 consolidated net profit
MRF surges on reporting 2- fold jump in Q4 consolidated net profit
Source: Accord Fintech
4/05/2023 11:15:08 AM
MRF rolls in a net profit of Rs 768.96cr in FY23 Automobile tyre major MRF Ltd closed FY23 with a total income of Rs 23,261.17 crore, a consolidated net profit of Rs 768.96 crore. The company said that last fiscal, it had earned total income of Rs 23,261.17 crore (against previous year's Rs 19,633.71 crore) and an after tax profit of Rs 768.96 crore (against previous year's Rs 669.24 crore). MRF shipped out goods worth Rs 1,877 crore last fiscal as against Rs 1,791 crore for the previous year ended March 31, 2022. The unpre...
MRF rolls in a net profit of Rs 768.96cr in FY23
MRF rolls in a net profit of Rs 768.96cr in FY23
Source: IANS
3/05/2023 6:35:39 PM
Icra expects tyre sector revenues to grow by 7-9% in FY24 Ratings firm Icra has said it expects a revenue growth of 7-9 per cent for Indian tyre industry in the current fiscal (FY24). It pegs the domestic tyre demand growth at 6-8 per cent for FY24, supported by stable growth in the replacement segment and sustained demand momentum in the OEM (Original Equipment Manufacturer) segment. The rating agency noted that it expects the demand momentum in the OEM segment to continue in FY24 with an estimated growth of 8-10 per cent. It added replacement d...
Icra expects tyre sector revenues to grow by 7-9% in FY24
Icra expects tyre sector revenues to grow by 7-9% in FY24
Source: Accord Fintech
28/04/2023 10:08:00 AM
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 350 - Religare Broking APOLLOTYRE * APOLLOTYRE has been trading in a steady uptrend since January 2021. * After breakout from weekly consolidation range, it moved sharply from 240 to a new record high at 343.05 levels. * It has been consolidating in a range for the last 2 months and looks set for the next leg of up move. * We thus suggest initiating fresh longs as per the given levels. Technical Chart : Daily Buy Apollo Tyres Ltd CMP 332.50; Range 331-333; SL 324; Target 350   ...
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 350 - Religare Broking
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 350 - Religare Broking
Source: Religare Broking Ltd
20/04/2023 12:52:52 PM
Export of tyres form India expected to rise by 15% in current fiscal: ATMA`s Chairman Automotive Tyre Manufacturers' Association (ATMA) -- Chairman Satish Sharma has said export of tyres from India is expected to rise by 15 per cent in the ongoing fiscal (FY23). He said fast integration with global supply chains helped by the globally aligned regulatory environment in the country has led to an increase in the addressable market for Indian manufactured tyres. He asserted despite the challenges to the global economy due to recessionary conditions, rising interest rates an...
Export of tyres form India expected to rise by 15% in current fiscal: ATMA`s Chairman
Export of tyres form India expected to rise by 15% in current fiscal: ATMA`s Chairman
Source: Accord Fintech
15/03/2023 10:24:13 AM
Buy CEAT Ltd For Target Rs. 1,917 - Yes Securities Margins recovery to continue View and Valuation – Price hikes and ease in RM to drive margins CEAT 3QFY23 results were better than estimates as consol gross margins expansion of 200bp QoQ at 34.5% (est 33%) surprised positively. This was led by ~4% decline in blended RM basket QoQ and price hikes. On S/A basis while volumes declined ~6.5% QoQ, ASPs grew 0.5% QoQ. YoY basis large volume growth was led by OEMs while exports/replacement have been weak QoQ. We believe, with stability ...
Buy CEAT Ltd For Target Rs. 1,917 - Yes Securities
Buy CEAT Ltd For Target Rs. 1,917 - Yes Securities
Source: Yes Securities Ltd
10/03/2023 11:33:30 AM
MRF inches up on raising Rs 150 crore through NCDs MRF is currently trading at Rs. 85200.00, up by 104.60 points or 0.12% from its previous closing of Rs. 85095.40 on the BSE. The scrip opened at Rs. 85759.70 and has touched a high and low of Rs. 85809.05 and Rs. 84612.20 respectively. So far 100 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95954.35 on 07-Nov-2022 and a 52 week low of Rs. 63800.05 on 07-Mar-2022. Last one week high and low of the scrip stood...
MRF inches up on raising Rs 150 crore through NCDs
MRF inches up on raising Rs 150 crore through NCDs
Source: Accord Fintech
28/02/2023 1:32:55 PM
JK Tyre & Industries jumps on looking to expand retail network across country JK Tyre & Industries is currently trading at Rs. 154.90, up by 2.10 points or 1.37% from its previous closing of Rs. 152.80 on the BSE. The scrip opened at Rs. 155.00 and has touched a high and low of Rs. 156.00 and Rs. 153.45 respectively. So far 35825 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 213.50 on 09-Dec-2022 and a 52 week low of Rs. 96.40 on 17-Jun-2022. Last one week high and low of the scrip ...
JK Tyre & Industries jumps on looking to expand retail network across country
JK Tyre & Industries jumps on looking to expand retail network across country
Source: Accord Fintech
21/02/2023 11:29:27 AM
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 348 - Religare Broking Apollo Tyres Ltd * APOLLOTYRE has surged strongly and ended near day’s high. * It has formed a strong base around its support zone of multiple moving averages on the daily chart. * All indications are pointing towards positive momentum to continue ahead. * We thus suggest accumulating fresh longs as per the given levels.   Technical Chart : Daily Buy Apollo Tyres Ltd CMP 334.15; Range 330-332; SL 324; Target 348   To Read Complete Report &am...
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 348 - Religare Broking
Stock of the day : Buy Apollo Tyres Ltd For Target Rs. 348 - Religare Broking
Source: Religare Broking Ltd
17/02/2023 12:42:20 PM
India's MRF reports Q3 profit jump on softer raw material prices, solid demand  Indian tyremaker MRF reported a 16% jump in quarterly profit on Thursday, as raw material prices eased and a pickup in economic activity led to higher demand for its now-pricier tyres. Standalone profit from continuing operations was 1.69 billion rupees ($20.46 million) for the third quarter ended Dec. 31, according to an exchange filing. MRF's total expenses rose 14% to 53.81 billion rupees, nearly half of the increase in the first six months of the current fiscal year. Re...
India's MRF reports Q3 profit jump on softer raw material prices, solid demand
India's MRF reports Q3 profit jump on softer raw material prices, solid demand
Source: Reuters
9/02/2023 2:46:14 PM
Apollo Tyres declines despite reporting 31% rise in Q3 consolidated net profit Apollo Tyres is currently trading at Rs. 322.85, down by 8.50 points or 2.57% from its previous closing of Rs. 331.35 on the BSE. The scrip opened at Rs. 337.30 and has touched a high and low of Rs. 343.00 and Rs. 320.75 respectively. So far 223776 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 343.00 on 03-Feb -2023 and a 52 week low of Rs. 165.40 on 07-Mar-2022. Last one week high and low of the scrip stood a...
Apollo Tyres declines despite reporting 31% rise in Q3 consolidated net profit
Apollo Tyres declines despite reporting 31% rise in Q3 consolidated net profit
Source: Accord Fintech
3/02/2023 11:55:03 AM
Hike in basic customs duty on compounded rubber to lead to rise in cost of production: ATMA Automotive Tyre Manufacturers Association (ATMA) has expressed concern over the hike in basic customs duty on compounded rubber announced in the Union Budget, saying the increase will lead to a rise in the cost of production and affect price competitiveness. The association also urged the government to reconsider it. In the Budget 2023-24, Finance Minister Nirmala Sitharaman said the basic customs duty rate on compounded rubber is being increased from 10 per cent to '25 per cent or Rs 30/...
Hike in basic customs duty on compounded rubber to lead to rise in cost of production: ATMA
Hike in basic customs duty on compounded rubber to lead to rise in cost of production: ATMA
Source: Accord Fintech
2/02/2023 11:28:43 AM
Buy APL Apollo Tubes Ltd For Target Rs.1,400 - Motilal Oswal Financial Services Leading from the front * APAT over the years has created a moat with its strong execution capability, scalability, a wider distributor network, diversified plant locations and innovation of diverse applications for structural tubes. * The company is far ahead of its competitor with large manufacturing capacity of 2.6MMT (excluding newly commissioned Raipur plant of 1MMT), a diversified portfolio of over 1,500 SKUs and a huge distribution network of over 800 distributors as on FY22. *...
Buy APL Apollo Tubes Ltd For Target Rs.1,400 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd For Target Rs.1,400 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
9/01/2023 2:55:29 PM
Buy CEAT Ltd For Target Rs. 1,898 - Yes Securities Margins recovery to continue View and Valuation – Price hikes and ease in RM to drive margins   CEAT 2QFY23 results were better than estimates as consol gross margins expansion of 80bp QoQ at 32.5% (est 31%) surprised positively. This was led by ~4% price hikes entirely covering RM inflation of ~4% QoQ in 2QFY23. On S/A basis while volumes remained flat QoQ, ASPs grew 3% QoQ. YoY basis large volume growth was led by OEMs (+20% YoY) while exports/replacement have been fla...
Buy CEAT Ltd For Target Rs. 1,898 - Yes Securities
Buy CEAT Ltd For Target Rs. 1,898 - Yes Securities
Source: Yes Securities Ltd
5/01/2023 3:10:52 PM
Kesoram Industries jumps on raising Rs 90 crore from promoter shareholder Kesoram Industries is currently trading at Rs. 60.00, up by 0.85 points or 1.44% from its previous closing of Rs. 59.15 on the BSE. The scrip opened at Rs. 59.85 and has touched a high and low of Rs. 61.35 and Rs. 59.45 respectively. So far 34996 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 78.20 on 20-Jan-2022 and a 52 week low of Rs. 44.25 on 16-Aug-2022. Last one week high and low of the scrip stood at Rs...
Kesoram Industries jumps on raising Rs 90 crore from promoter shareholder
Kesoram Industries jumps on raising Rs 90 crore from promoter shareholder
Source: Accord Fintech
19/12/2022 3:09:11 PM
Buy Apollo Tyres Ltd For Target Rs.350 - JM Financial Institutional Securities Better pricing power drives performance; RM benefit an additional lever During 2QFY23, Apollo Tyres reported consol. EBITDAM of 12% (-60bps YoY, +30bps QoQ), 30bps above JMFe, driven by resilient performance in EU business. Standalone EBITDAM stood at 10.3% (flat YoY, +60bps QoQ), c.20bps above JMFe. EBITDAM of EU operations remained resilient at 15.3% despite high energy and RM inflation. Better mix and price hikes helped offset inflationary pressures. In 2Q, domestic demand remained stro...
Buy Apollo Tyres Ltd For Target Rs.350 - JM Financial Institutional Securities
Buy Apollo Tyres Ltd For Target Rs.350 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
14/12/2022 11:14:30 AM
Buy Apollo Tyres Ltd For Target Rs.360 - Motilal Oswal Financial Services Inline, with EU performing better than our estimate EU demand outlook turns negative; gains from lower RM cost to accrue from 3QFY23 * APTY’s 2QFY23 performance was driven by price hikes in India and the EU, more than diluting the cost pressures. The performance of its India business was largely in line, led by OEM demand as replacement demand declined, while the EU business outperformed on market share gains. While replacement demand in its India business is picking up with good ...
Buy Apollo Tyres Ltd For Target Rs.360 - Motilal Oswal Financial Services
Buy Apollo Tyres Ltd For Target Rs.360 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
12/12/2022 11:09:29 AM
Apollo Tyres gains on inaugurating advanced R&D tyre testing facility in Chennai Apollo Tyres is currently trading at Rs. 316.00, up by 1.40 points or 0.45% from its previous closing of Rs. 314.60 on the BSE. The scrip opened at Rs. 314.30 and has touched a high and low of Rs. 316.70 and Rs. 311.70 respectively. So far 30631 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 323.55 on 05-Dec-2022 and a 52 week low of Rs. 165.40 on 07-Mar-2022. Last one week high and low of the scrip stood at Rs...
Apollo Tyres gains on inaugurating advanced R&D tyre testing facility in Chennai
Apollo Tyres gains on inaugurating advanced R&D tyre testing facility in Chennai
Source: Accord Fintech
8/12/2022 4:29:03 PM
Buy Apollo Pipes Ltd For Target Rs.600 - Yes Securities Ltd Outperformance to continue, Reiterate BUY!   Result Synopsis Apollo Pipes Ltd reported decent volume growth of 6.5%YoY & 7%QoQ to 15,465Te (3?year CAGR 14%). However, decline in ASP from Rs143/Rs152 in Q2FY22/Q1FY23 respectively to Rs134/Kg lead to a revenue decline of 5%QoQ & remained flattish YoY to Rs2.07Bn. H1FY23 volumes stood at 29,871Te, reporting a 20%YoY growth & revenue increased by 23%YoY to Rs4.26Bn. During the quarter continuous fall in PVC resin price...
Buy Apollo Pipes Ltd For Target Rs.600 - Yes Securities Ltd
Buy Apollo Pipes Ltd For Target Rs.600 - Yes Securities Ltd
Source: Yes Securities Ltd
8/12/2022 11:19:39 AM