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Buy Sansera Engineering Ltd For Target Rs. 1,205 - Choice Broking Sansera reported mix set of performance in Q4FY24. Total revenue for quarter under review grew by 21% YoY basis to Rs. 7.46bn vs est of Rs.7.29bn, led by better growth in 2W segments and higher premium content in the MC segment. Operating profit for the quarter jumped by 32% YoY/+5.3% QoQ to Rs.1.27bn vs est of Rs.1.26bn and margin expanded by 149bps YoY to 17% vs est. of 17.3%. PAT for the quarter increased by 31.2% to Rs.461mn vs our estimates of Rs.502mn. On Full year basis, Top line grew ...
Buy Sansera Engineering Ltd For Target Rs. 1,205 - Choice Broking
Buy Sansera Engineering Ltd For Target Rs. 1,205 - Choice Broking
Source: Choice Broking
2024-06-08 09:51:01 am
Buy Happy Forgings Ltd For Target Rs.1,125 - Motilal Oswal Financial Services Expanding opportunities with diversification Well poised to tap opportunities in growing industrials and exports market Happy Forgings (HFL) is a Ludhiana-based company specializing in diversified forging and machining services. With over four decades of industry experience, it manufactures and delivers top-quality, intricate components. It is ranked as the fourth largest engineering-led manufacturer in India for complex and safety-critical, heavy forged, and high-precision machined co...
Buy Happy Forgings Ltd For Target Rs.1,125 - Motilal Oswal Financial Services
Buy Happy Forgings Ltd For Target Rs.1,125 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-05-28 10:52:45 am
Buy Sansera Engineering Ltd. For Target Rs.1,205 By Choice Broking Ltd Sansera reported mix set of performance in Q4FY24. Total revenue for quarter under review grew by 21% YoY basis to Rs. 7.46bn vs est of Rs.7.29bn, led by better growth in 2W segments and higher premium content in the MC segment. Operating profit for the quarter jumped by 32% YoY/+5.3% QoQ to Rs.1.27bn vs est of Rs.1.26bn and margin expanded by 149bps YoY to 17% vs est. of 17.3%. PAT for the quarter increased by 31.2% to Rs.461mn vs our estimates of Rs.502mn. On Full year basis, Top line grew ...
Buy Sansera Engineering Ltd. For Target Rs.1,205 By Choice Broking Ltd
Buy Sansera Engineering Ltd. For Target Rs.1,205 By Choice Broking Ltd
Source: Choice Broking
2024-05-23 12:22:52 pm
Escorts Kubota gains on planning to invest Rs 4,500 crore over next 3 to 4 years for new plant Escorts Kubota is currently trading at Rs. 3596.00, up by 41.20 points or 1.16% from its previous closing of Rs. 3554.80 on the BSE. The scrip opened at Rs. 3554.75 and has touched a high and low of Rs. 3617.20 and Rs. 3510.00 respectively. So far 12962 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3617.20 on 13-May-2024 and a 52 week low of Rs. 2,034.00 on 25-May-2023. Last one week high and low of the scrip...
Escorts Kubota gains on planning to invest Rs 4,500 crore over next 3 to 4 years for new plant
Escorts Kubota gains on planning to invest Rs 4,500 crore over next 3 to 4 years for new plant
Source: Accord Fintech
2024-05-13 12:49:40 pm
Buy Escorts Ltd. For Target Rs.: 3,350 - Emkay Global Escorts’ Q3 margin performance was in line (up 61bps QoQ to 13.5%), largely on the back of operating leverage in the tractor division. The company downgraded its tractor volume guidance to a 6-7% dip for FY24E (vs. earlier guidance of -2% to +2%) amid high base; however, in our view, medium-tolong term growth prospects remain robust amid planned product/network expansion and strong opportunity for vehicle exports (by leveraging co-parent Kubota’s global network; can scale up expor...
Buy Escorts Ltd. For Target Rs.: 3,350 - Emkay Global
Buy Escorts Ltd. For Target Rs.: 3,350 - Emkay Global
Source: Emkay Global
2024-05-01 12:15:27 pm
Remsons Industries gains on bagging order worth Rs 30 crore from Tata Motors Remsons Industries is currently trading at Rs. 945.00, up by 17.25 points or 1.86% from its previous closing of Rs. 927.75 on the BSE. The scrip opened at Rs. 965.00 and has touched a high and low of Rs. 965.00 and Rs. 945.00 respectively. So far 152 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1104.95 on 02-Mar-2024 and a 52 week low of Rs. 197.15 on 09-May-2023. Last one week high and low of the scrip stoo...
Remsons Industries gains on bagging order worth Rs 30 crore from Tata Motors
Remsons Industries gains on bagging order worth Rs 30 crore from Tata Motors
Source: Accord Fintech
2024-04-18 01:58:27 pm
Ucal Ltd to raise up to Rs 50 crore from issuing NCDs Automotive component maker Ucal Ltd will be raising up to Rs 50 crore debt by issuing non-convertible debentures (NCD), the company said on Wednesday. In a regulatory filing, the Rs 584.29 crore revenue Ucal Ltd said the Board of Directors, at their meeting, has approved raising Rs 30 crore from fully-paid NCDs and up to Rs 20 crore from partly-paid NCDs. The fully paid NCDs will mature in 30 months from the deemed date of allotment and will carry a coupon rate of 11.50 per cent per ann...
Ucal Ltd to raise up to Rs 50 crore from issuing NCDs
Ucal Ltd to raise up to Rs 50 crore from issuing NCDs
Source: IANS
2024-03-14 10:29:43 am
Lumax Industries surges on getting nod to set up new manufacturing facility in Gujarat Lumax Industries is currently trading at Rs. 2273.55, up by 16.55 points or 0.73% from its previous closing of Rs. 2257.00 on the BSE. The scrip opened at Rs. 2250.25 and has touched a high and low of Rs. 2303.95 and Rs. 2191.95 respectively. So far 501 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2815.45 on 09-Jan-2024 and a 52 week low of Rs. 1645.00 on 14-Mar-2023. Last one week high and low of the scrip ...
Lumax Industries surges on getting nod to set up new manufacturing facility in Gujarat
Lumax Industries surges on getting nod to set up new manufacturing facility in Gujarat
Source: Accord Fintech
2024-03-12 03:12:28 pm
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH Bharat Forge is currently trading at Rs. 1138.80, up by 5.95 points or 0.53% from its previous closing of Rs. 1132.85 on the BSE. The scrip opened at Rs. 1131.35 and has touched a high and low of Rs. 1145.45 and Rs. 1125.55 respectively. So far 15391 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1330.00 on 12-Feb-2024 and a 52 week low of Rs. 744.00 on 10-Apr-2023. Last one week high and low of the scrip stood...
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH
Source: Accord Fintech
2024-02-23 03:17:31 pm
Remsons Industries touches roof on entering into 50:50 JV with Daiichi for automotive electronics Remsons Industries is currently trading at its upper limit of Rs. 942.45, up by 44.85 points or 5.00% from its previous closing of Rs. 897.60 on the BSE. The scrip opened at Rs. 900.00 and has touched a high and low of Rs. 942.45 and Rs. 900.00 respectively. So far 5103 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 942.45 on 19-Feb-2024 and a 52 week low of Rs. 182.00 on 28-Mar-2023. Last one week high and lo...
Remsons Industries touches roof on entering into 50:50 JV with Daiichi for automotive electronics
Remsons Industries touches roof on entering into 50:50 JV with Daiichi for automotive electronics
Source: Accord Fintech
2024-02-19 03:04:12 pm
Auto parts maker Schaeffler India`s Q4 profit drops on higher input costs Auto components maker Schaeffler India reported a nearly 6% fall in fourth-quarter profit on Friday, as expenses rose. The drop in bottomline of the bearings company mirrors smaller peer Timken India's drop in quarterly profit. Schaeffler India's profit was 2.17 billion rupees (about $26 million) for the quarter ended Dec. 31, compared with 2.31 billion rupees a year earlier. This was its first profit decline after 13 quarters of growth. Its automotive technologies division, ...
Auto parts maker Schaeffler India`s Q4 profit drops on higher input costs
Auto parts maker Schaeffler India`s Q4 profit drops on higher input costs
Source: Reuters
2024-02-18 09:39:03 am
Happy Forgings rises on bagging order worth around Rs 400 crore Happy Forgings is currently trading at Rs. 973.25, up by 6.25 points or 0.65% from its previous closing of Rs. 967.00 on the BSE. The scrip opened at Rs. 978.10 and has touched a high and low of Rs. 987.40 and Rs. 960.00 respectively. So far 14034 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1087.85 on 27-Dec-2023 and a 52 week low of Rs. 917.10 on 24-Jan-2024. Last one week high and low of the scrip stood at...
Happy Forgings rises on bagging order worth around Rs 400 crore
Happy Forgings rises on bagging order worth around Rs 400 crore
Source: Accord Fintech
2024-02-16 11:15:33 am
Siemens trades higher on reporting 9% rise in consolidated net profit for December quarter Siemens is currently trading at Rs. 4400.05, up by 76.60 points or 1.77% from its previous closing of Rs. 4323.45 on the BSE. The scrip opened at Rs. 4253.65 and has touched a high and low of Rs. 4413.75 and Rs. 4253.65 respectively. So far 12286 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4500.00 on 13-Feb-2024 and a 52 week low of Rs. 3081.00 on 14-Feb-2023. Last one week high and low of the scrip stood at...
Siemens trades higher on reporting 9% rise in consolidated net profit for December quarter
Siemens trades higher on reporting 9% rise in consolidated net profit for December quarter
Source: Accord Fintech
2024-02-14 10:44:27 am
Revenue growth of Auto Component Industry to moderate to 5-7% in FY25: Icra Rating firm Icra has said annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports. According to Icra estimates, its sample of 45 auto ancillaries, with aggregate annual revenues of Rs 2.7 lakh crore in FY23, is likely to grow by 9-11 per cent in FY24, driven by healthy domestic demand despite a high base and moderate growth in exports. It also noted that capex towar...
Revenue growth of Auto Component Industry to moderate to 5-7% in FY25: Icra
Revenue growth of Auto Component Industry to moderate to 5-7% in FY25: Icra
Source: Accord Fintech
2024-02-14 10:13:53 am
Siemens logs Rs 463 crore PAT for Q1 Siemens Ltd closed the first quarter of its financial year with a higher net profit of Rs 463.4 crore. The company follows the October-September cycle as its accounting year. According to the company, for the first quarter of FY24 ending December 31, 2023, it posted as revenue of about Rs 4,394.7 crore (Q1FY23 Rs 3,598.2 crore) and a net profit of about Rs 463.4 crore (Q1FY23 Rs 437.6 crore). The company said it received new orders of Rs 5,971 crore in the period under review, a 10 per ...
Siemens logs Rs 463 crore PAT for Q1
Siemens logs Rs 463 crore PAT for Q1
Source: IANS
2024-02-13 06:17:59 pm
Bosch posts 62% jump in net profit, declares interim dividend of Rs 205 a share Auto components major Bosch Ltd on Tuesday reported a 62 per cent jump in net profit at Rs 518 crore for the October-November quarter of the current financial year compared to the corresponding figure of Rs 318.9 crore in the same quarter of the previous year. The company said the net profit is 12.3 per cent of revenue from operations. The Board of directors in their meeting held on February 13, declared a special payout in the form of an Interim Dividend of Rs 205 per equity share of R...
Bosch posts 62% jump in net profit, declares interim dividend of Rs 205 a share
Bosch posts 62% jump in net profit, declares interim dividend of Rs 205 a share
Source: IANS
2024-02-13 05:20:36 pm
Lumax Auto Technologies zooms on getting nod to incorporate Wholly Owned Subsidiary Lumax Auto Technologies is currently trading at Rs. 415.00, up by 26.85 points or 6.92% from its previous closing of Rs. 388.15 on the BSE. The scrip opened at Rs. 393.45 and has touched a high and low of Rs. 434.80 and Rs. 375.00 respectively. So far 63520 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.00 on 08-Aug-2023 and a 52 week low of Rs. 210.20 on 15-Feb-2023. Last one week high and low of the scrip...
Lumax Auto Technologies zooms on getting nod to incorporate Wholly Owned Subsidiary
Lumax Auto Technologies zooms on getting nod to incorporate Wholly Owned Subsidiary
Source: Accord Fintech
2024-02-13 03:25:00 pm
Minda Corporation rises on bagging order for manufacturing of Smart Vehicle Access Systems Minda Corporation is currently trading at Rs. 401.95, up by 3.35 points or 0.84% from its previous closing of Rs. 398.60 on the BSE. The scrip opened at Rs. 396.45 and has touched a high and low of Rs. 403.45 and Rs. 386.95 respectively. So far 23828 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 420.10 on 07-Feb-2024 and a 52 week low of Rs. 187.00 on 28-Mar-2023. Last one week high and low of the scrip stood ...
Minda Corporation rises on bagging order for manufacturing of Smart Vehicle Access Systems
Minda Corporation rises on bagging order for manufacturing of Smart Vehicle Access Systems
Source: IANS
2024-02-13 02:38:47 pm
Lumax Auto Technologies zooms after its arm inaugurates new manufacturing plant at Chakan Lumax Auto Technologies is currently trading at Rs. 419.00, up by 21.35 points or 5.37% from its previous closing of Rs. 397.65 on the BSE. The scrip opened at Rs. 404.15 and has touched a high and low of Rs. 422.00 and Rs. 400.80 respectively. So far 19697 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.00 on 08-Aug-2023 and a 52 week low of Rs. 210.20 on 15-Feb-2023. Last one week high and low of the scrip...
Lumax Auto Technologies zooms after its arm inaugurates new manufacturing plant at Chakan
Lumax Auto Technologies zooms after its arm inaugurates new manufacturing plant at Chakan
Source: Accord Fintech
2024-02-07 03:16:17 pm
Escorts Kubota surges as its construction equipment segment reports 16% growth in January sales Escorts Kubota is currently trading at Rs. 2932.45, up by 49.85 points or 1.73% from its previous closing of Rs. 2882.60 on the BSE. The scrip opened at Rs. 2879.90 and has touched a high and low of Rs. 2933.20 and Rs. 2879.90 respectively. So far 1266 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3435.20 on 11-Oct-2023 and a 52 week low of Rs. 1809.95 on 27-Mar-2023. Last one week high and low of the scrip s...
Escorts Kubota surges as its construction equipment segment reports 16% growth in January sales
Escorts Kubota surges as its construction equipment segment reports 16% growth in January sales
Source: Accord Fintech
2024-02-02 10:45:37 am
Escorts Kubota gains as its agri machinery segment reports 7% fall in tractors sales in January 2024 Escorts Kubota is currently trading at Rs. 3025.00, up by 43.00 points or 1.44% from its previous closing of Rs. 2982.00 on the BSE. The scrip opened at Rs. 2987.15 and has touched a high and low of Rs. 3025.00 and Rs. 2987.15 respectively. So far 740 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3435.20 on 11-Oct-2023 and a 52 week low of Rs. 1809.95 on 27-Mar-2023. Last one week high and low of the scrip st...
Escorts Kubota gains as its agri machinery segment reports 7% fall in tractors sales in January 2024
Escorts Kubota gains as its agri machinery segment reports 7% fall in tractors sales in January 2024
Source: Accord Fintech
2024-02-01 10:06:35 am
Rane Brake Lining logs PAT of Rs 10.12 crore City-based automotive brake lining maker Rane Brake Lining Ltd closed third quarter of FY24 with a marginal increase in its net profit of Rs 10.12 crore. In a regulatory filing on Tuesday Rane Brake Lining said for the quarter ended 31.12.2023 it had earned an operational revenue of Rs 164.25 crore (Q3FY23 Rs 153.33 crore) and a net profit of Rs10.12 crore (Rs 9.17 crore). During the quarter under review, the company's total expenses went up to Rs.151.41 crore from Rs.142.33 crore s...
Rane Brake Lining logs PAT of Rs 10.12 crore
Rane Brake Lining logs PAT of Rs 10.12 crore
Source: IANS
2024-01-30 03:28:26 pm
Craftsman Automation gains on getting nod to set up new plant in Rajasthan Craftsman Automation is currently trading at Rs. 4820.90, up by 74.70 points or 1.57% from its previous closing of Rs. 4746.20 on the BSE. The scrip opened at Rs. 4750.00 and has touched a high and low of Rs. 4863.60 and Rs. 4643.85 respectively. So far 1138 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5510.00 on 22-Dec-2023 and a 52 week low of Rs. 2699.40 on 20-Mar-2023. Last one week high and low of the sc...
Craftsman Automation gains on getting nod to set up new plant in Rajasthan
Craftsman Automation gains on getting nod to set up new plant in Rajasthan
Source: Accord Fintech
2024-01-29 11:00:54 am
Auto & Auto Ancillaries Sector Update :2Ws to re-rate further -`TINA` factor at play By Emkay Global Financial Services Ltd Underlying metrics for PVs are deteriorating (flattening retail growth, rising inventory and discounts, falling orderbook); outlook is muted. Electrification worries are emerging in PVs, while abating in 2Ws. Conversely, 2Ws offer multi-year growth visibility amid entry-level revival and replacement-driven upturn (~9% production CAGR).  All-round positivity prompts 2W upgrades, aided by lack of alternatives in PVs, CVs. Top picks: TVSL, HMCL. We also like the tyre space. Underly...
Auto & Auto Ancillaries Sector Update :2Ws to re-rate further -`TINA` factor at play By Emkay Global Financial Services Ltd
Auto & Auto Ancillaries Sector Update :2Ws to re-rate further -`TINA` factor at play By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services
2024-01-14 02:28:17 pm
Force Motors jumps on reporting 21% rise in December total sales Force Motors is currently trading at Rs. 3677.50, up by 73.95 points or 2.05% from its previous closing of Rs. 3603.55 on the BSE. The scrip opened at Rs. 3751.00 and has touched a high and low of Rs. 3795.60 and Rs. 3663.25 respectively. So far 27694 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4468.00 on 13-Nov-2023 and a 52 week low of Rs. 1085.20 on 28-Mar-2023. Last one week high and low of the scrip st...
Force Motors jumps on reporting 21% rise in December total sales
Force Motors jumps on reporting 21% rise in December total sales
Source: Accord Fintech
2024-01-08 02:43:08 pm
Auto component industry looking to invest around $7 billion over next five years: ACMA`s President Automotive Component Manufacturers Association of India (ACMA) President Shradha Suri Marwah has said that the auto component industry is looking to invest around $6.5 to 7 billion over the next five years as compared to $3.5-4 billion spent in the last five years. The components industry continues to make investments for purposes of higher value-addition, technology upgradation, and localisation to stay relevant to both domestic and international customers.  Further, Marwah said the ...
Auto component industry looking to invest around $7 billion over next five years: ACMA`s President
Auto component industry looking to invest around $7 billion over next five years: ACMA`s President
Source: Accord Fintech
2023-12-21 10:20:49 am
Buy Uniparts India Ltd For Target Rs.750 - JM Financial Institutional Securities Ltd Weakness to continue in the near-term; Orderbook shaping-up well Uniparts India’s (Uniparts) reported revenue declined 18% YoY and was 9% below JMFe. Inventory correction during the quarter had an impact of 8-9% on revenue growth. EBITDA margin at 18.3% was below JMFe. Inventory correction is expected to bottom out in 3Q with normalisation in 4Q. While US small agri demand remains muted, large Agri and CE demand remains healthy. Demand in EU also remains steady. Uniparts continues to...
Buy Uniparts India Ltd For Target Rs.750 - JM Financial Institutional Securities Ltd
Buy Uniparts India Ltd For Target Rs.750 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
2023-12-16 12:12:20 pm
Uno Minda moves up on commissioning new automotive seating systems plant UNO Minda is currently trading at Rs. 660.90, up by 1.25 points or 0.19% from its previous closing of Rs. 659.65 on the BSE. The scrip opened at Rs. 670.65 and has touched a high and low of Rs. 674.05 and Rs. 660.85 respectively. So far 8124 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 694.40 on 24-Nov-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. 67...
Uno Minda moves up on commissioning new automotive seating systems plant
Uno Minda moves up on commissioning new automotive seating systems plant
Source: Accord Fintech
2023-12-14 11:42:49 am
JTEKT India shines on bagging new order from JTEKT Brasil JTEKT India is currently trading at Rs. 140.00, up by 7.35 points or 5.54% from its previous closing of Rs. 132.65 on the BSE. The scrip opened at Rs. 139.15 and has touched a high and low of Rs. 142.85 and Rs. 139.15 respectively. So far 95097 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 167.90 on 10-Aug-2023 and a 52 week low of Rs. 95.55 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs. ...
JTEKT India shines on bagging new order from JTEKT Brasil
JTEKT India shines on bagging new order from JTEKT Brasil
Source: Accord Fintech
2023-12-12 10:36:31 am
Subros trades jubilantly on bagging contract worth around Rs 25 crore from Indian Railways Subros is currently trading at Rs. 503.75, up by 53.05 points or 11.77% from its previous closing of Rs. 450.70 on the BSE. The scrip opened at Rs. 524.00 and has touched a high and low of Rs. 530.00 and Rs. 501.30 respectively. So far 161296 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 530.00 on 11-Dec-2023 and a 52 week low of Rs. 272.00 on 27-Feb-2023. Last one week high and low of the scrip stood at Rs. 5...
Subros trades jubilantly on bagging contract worth around Rs 25 crore from Indian Railways
Subros trades jubilantly on bagging contract worth around Rs 25 crore from Indian Railways
Source: Accord Fintech
2023-12-11 11:00:49 am
Neutral Escorts Kubota Ltd For Target Rs.2,995 - Yes Securities Valuation and View – New product launches in tractors to help MS Escorts Kubota (EKL) 2QFY24 results were weak (EBITDA miss of ~13%) to our while in-line to street estimates. The key positives were, 1) better than expected gross margins at 32.3% (est 30.7%, +470bp YoY/ +210bp YoY), 2) favorable mix in railway business (led by spares and exports) led to EBIT margins at 18.9% (+380bp YoY) and 3) CE business EBIT margins at 10.2% (highest, +12.8% YoY). The management indicated sustenanc...
Neutral Escorts Kubota Ltd For Target Rs.2,995 - Yes Securities
Neutral Escorts Kubota Ltd For Target Rs.2,995 - Yes Securities
Source: Yes Securities Ltd
2023-12-08 12:41:39 pm
Neutral Escorts Kubota Ltd For Target Rs.3,000 - Motilal Oswal Financial Services Ltd Better gross margins offset by other costs FY24 tractor industry growth guidance of +/-2% YoY * 2QFY24 results were inline as better gross margin at 32.3% (vs est. 30.5%) was offset by higher other expenses. The company has guided for flattish growth in FY24 volumes (+/-2% YoY) vis-à-vis ~4% YoY decline in 1HFY24 due to festive mismatch this year followed by erratic rainfall and high base of last year. * We maintain our FY24E/FY25E EPS estimates. We retain our Neutral rating o...
Neutral Escorts Kubota Ltd For Target Rs.3,000 - Motilal Oswal Financial Services Ltd
Neutral Escorts Kubota Ltd For Target Rs.3,000 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2023-12-02 10:52:33 am
Escorts Kubota rises as its agri machinery segment reports marginal growth in tractors sales in November Escorts Kubota is currently trading at Rs. 3174.90, up by 28.75 points or 0.91% from its previous closing of Rs. 3146.15 on the BSE. The scrip opened at Rs. 3199.35 and has touched a high and low of Rs. 3199.35 and Rs. 3159.15 respectively. So far 1645 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3435.20 on 11-Oct-2023 and a 52 week low of Rs. 1809.95 on 27-Mar-2023. Last one week high and low of the scrip s...
Escorts Kubota rises as its agri machinery segment reports marginal growth in tractors sales in November
Escorts Kubota rises as its agri machinery segment reports marginal growth in tractors sales in November
Source: Accord Fintech
2023-12-01 11:59:37 am
Auto & Auto Ancillaries Sector Update : Festive retails: Strong season led by rural push in 2Ws By Emkay Global Financial Services The Federation of Automobile Dealers Associations (FADA) reported that auto industry retail volumes grew ~19% YoY in the 2023 festive season (42-day period, beginning on the 1st day of Navratri through to 15 days post Dhanteras), led by ~21% higher 2W sales. PVs noted ~10% growth, with CVs up ~8% and growth in Tractors staying flat. We continue to believe that 2W recovery would sustain post the festive season, driven by replacement demand; 4W segments (PVs, CVs) are less attractive, amid slow...
Auto & Auto Ancillaries Sector Update : Festive retails: Strong season led by rural push in 2Ws By Emkay Global Financial Services
Auto & Auto Ancillaries Sector Update : Festive retails: Strong season led by rural push in 2Ws By Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-30 12:17:27 pm
Buy Samvardhana Motherson International Ltd For Target Rs.110 - Emkay Global Financial Services SAMIL’s Q2 performance was muted (margins down by 52bps QoQ to 8% vs. our est. of 8.8%), affected by seasonality and one-offs (labor strikes in North America, one-time costs for restructuring some Europe plants). We continue to believe that cyclical recovery in global automotive production (with markets well below their previous highs) and higher wallet share from premiumization and electrification (given SAMIL’s engine-agonistic offerings) will continue to drive healthy 15% reven...
Buy Samvardhana Motherson International Ltd For Target Rs.110 - Emkay Global Financial Services
Buy Samvardhana Motherson International Ltd For Target Rs.110 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-26 10:02:45 am
Suprajit Engineering gains on purchasing industrial property in Karnataka Suprajit Engineering is currently trading at Rs. 376.00, up by 2.85 points or 0.76% from its previous closing of Rs. 373.15 on the BSE. The scrip opened at Rs. 373.05 and has touched a high and low of Rs. 380.05 and Rs. 370.95 respectively. So far 1772 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 446.75 on 25-Jul-2023 and a 52 week low of Rs. 315.25 on 30-Jan-2023. Last one week high and low of the scrip stoo...
Suprajit Engineering gains on purchasing industrial property in Karnataka
Suprajit Engineering gains on purchasing industrial property in Karnataka
Source: Accord Fintech
2023-11-24 11:32:35 am
Buy UNO Minda Ltd For Target Rs.745 - Geojit Financial Services Ltd Key order book remains strong. 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%. • The content per vehicle has continued to grow at 10%-15%, and it is expected to add more components to its product portfolio. The annual order value from EV OEM is Rs.3,043cr. • Q2FY24 revenue came above expectations, registering a growth...
Buy UNO Minda Ltd For Target Rs.745 - Geojit Financial Services Ltd
Buy UNO Minda Ltd For Target Rs.745 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2023-11-22 03:06:27 pm
Buy Escorts Ltd For Target Rs.3,430 - Emkay Global Financial Services Escorts’ Q2 margin performance was below estimates (down by 118bps QoQ to 12.9%; Emkay: 13.5%), largely owing to operating de-leverage in Tractors. While near-term tractor industry prospects appear benign (given the high base), we remain positive on the medium-to-long term growth prospects, driven by planned product/network expansion and strong opportunity for vehicle exports (by leveraging co-parent Kubota’s global network) as well as component exports (as part of Kubota’s ...
Buy Escorts Ltd For Target Rs.3,430 - Emkay Global Financial Services
Buy Escorts Ltd For Target Rs.3,430 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-21 03:04:09 pm
Mid Cap: Sell Tube Investments Of India Ltd For Target Rs.2,855 - Geojit Financial Services Slow ramp in the electric vehicle business Tube Investment of India Ltd. (TII) is a flagship company of the Murugappa group. It is one of the leading product manufacturers for major industries such as Automotive, Railway, Construction, Mining, etc. • Q2FY24, consolidated revenue grew by 14.0% YoY, driven by Industrial, Metal Forming and Engineering segments. However, bicycle demand continue to witness negative growth. • TII’s margin contracted by 61bps YoY owing to de...
Mid Cap: Sell Tube Investments Of India Ltd For Target Rs.2,855 - Geojit Financial Services
Mid Cap: Sell Tube Investments Of India Ltd For Target Rs.2,855 - Geojit Financial Services
Source: Geojit Financial Services Ltd
2023-11-20 03:07:56 pm
Sell Escorts Kubota Ltd For Target Rs.2,830 - Geojit Financial Services Overall tractor volume below expectation. Escorts Kobota Ltd (EKL) is the third largest agricultural tractor manufacturer in India. It has a strong presence in the north and west markets, with a 10.1% market share in FY23. • Q2FY24 revenue grew by 9%YoY, driven by a superior product mix and price hike. The domestic tractor segment de-grew by -7%YoY, while Construction equipment & Railway registered robust growth. • EBITDA margin expanded by 476bps (came below our expect...
Sell Escorts Kubota Ltd For Target Rs.2,830 - Geojit Financial Services
Sell Escorts Kubota Ltd For Target Rs.2,830 - Geojit Financial Services
Source: Geojit Financial Services Ltd
2023-11-18 11:35:54 am
Reduce SKF India Ltd For Target Rs.5,095 - Centrum Broking High cost imports led to huge Gross margin erosion SKF India reported subdued set of numbers for 2QFY24 on all fronts – Revenue growth, margins and PAT growth. The numbers were substantially lower than our and consensus estimates. The highlight of the results has been whopping 830 bps YoY erosion in the gross margin to 34% (Centrum – 36.2%), the lowest since 3QFY20. This has been attributed to the increase in the import costs. Revenue up by 4.4% YoY to Rs 11,252 mn (Centrum &nd...
Reduce SKF India Ltd For Target Rs.5,095 - Centrum Broking
Reduce SKF India Ltd For Target Rs.5,095 - Centrum Broking
Source: Centrum Broking Limited
2023-11-14 12:05:59 pm
Buy Alicon Castalloy Ltd For Target Rs..1,243 - Sushil Finance Highlights from the Quarter (Q2FY24): Alicon Castalloy Ltd (ACL) reported a quarterly revenue of Rs. 381.8 cr for Q2FY24, up marginally 1.1% YoY and 7.6% on a QoQ basis. Despite a fall in realization, ACL reported higher revenues driven by the commencement of supply for new parts. Further, margins were enhanced due to an improvement in product mix and a cooling of input prices. ACL reported an EBITDA of Rs.47 cr for the quarter vs Rs.43.4 cr for the same quarter in the previous year (up...
Buy Alicon Castalloy Ltd For Target Rs..1,243 - Sushil Finance
Buy Alicon Castalloy Ltd For Target Rs..1,243 - Sushil Finance
Source: Sushil Finance
2023-11-13 02:34:00 pm
Hold Amara Raja Batteries Ltd For Target Rs.615 -Emkay Global Financial Services Ltd AMRJ’s Q2 reported in-line performance with revenue/EBITDA growth of 4%/7% YoY. We have built in ~9%/~9% revenue/EBITDA CAGR over FY24- 26E, factoring in continued recovery in the base lead acid business (amid a modest uptick in replacement demand and stability in raw-material prices). We have tweaked our FY24E/FY25E/FY26E EPS by 1%. Importantly, SOP for phase-1 of lithium cell capacity (2 GWh) remains at least two years away (AMRJ plans 16 GWh by 2032), hence immediate triggers on the ...
Hold Amara Raja Batteries Ltd For Target Rs.615 -Emkay Global Financial Services Ltd
Hold Amara Raja Batteries Ltd For Target Rs.615 -Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services
2023-11-13 12:43:16 pm
Outperform Lumax Auto Technologies For Target Rs.457 - Choice Broking During Q2FY24, LATL reported slightly lower than expected performance on margin front which is a key parameter to watch as consolidation with IAC India was margin accretive. Further, going forward margin for IAC India would be slightly lower due to change in product mix. Post acquisition of IAC India, various benefit is coming such as sourcing and client addition, and wallet share is increasing * On operational performance front, the company reported a revenue growth of 11% QoQ to Rs.7bn a...
Outperform Lumax Auto Technologies For Target Rs.457 - Choice Broking
Outperform Lumax Auto Technologies For Target Rs.457 - Choice Broking
Source: Choice Broking Ltd
2023-11-11 12:55:55 pm
Outperform Sansera Engineering Ltd For Target Rs.1,030 - Choice Broking Sansera in Q2FY24 delivered decent performance and offset the weak domestic business performance by registering healthy growth in international operations which grew 40% YoY basis. In Domestic market, a weak set of performance in the 2W segment impacted the overall top line growth. The management expects to achieve healthy export growth in H2FY24, driven by the order book, execution of new orders and commissioning of new press lines. Top line for the quarter came at Rs.6.92bn (+9.3%/+5%QoQ) v...
Outperform Sansera Engineering Ltd For Target Rs.1,030 - Choice Broking
Outperform Sansera Engineering Ltd For Target Rs.1,030 - Choice Broking
Source: Choice Broking Ltd
2023-11-11 12:16:21 pm
Buy Endurance Technologies Ltd For Target Rs 1,871 - LKP Securities Ltd Endurance Technologies (Endu) reported consolidated revenues of ?25.5 bn, up 3.9% qoq and 7.8% yoy. Reduction in Maharashtra state incentives from ?340 mn to ?240 mn yoy also had some impact on the numbers. EBITDA margins came in at 12.1% in domestic business while European margins were at 12.4% down from 14.6% qoq on weakness in European demand. The EBITDA margins at the domestic level were up 40 bps up yoy as the RM cost tailwinds were seen in the quarter and also due to firmness in the dom...
Buy Endurance Technologies Ltd For Target Rs 1,871 - LKP Securities Ltd
Buy Endurance Technologies Ltd For Target Rs 1,871 - LKP Securities Ltd
Source: LKP Securities
2023-11-10 03:17:48 pm
Buy Craftsman automation Ltd For Target Rs.5,800 - Motilal Oswal Financial Services Softness in powertrain division dents overall performance Announced incremental capex of up to INR2.6b for greenfield by FY26 * CRAFTSMA’s 2QFY24 results were below our estimates as EBITDA margin came in at 20.1% (est. 21.5%). The weakness was largely attributable to underutilized capacities in the powertrain division and repair expenses for the refurbishment of old equipment. However, margins are likely to recover to 21%+ in the coming quarters, led by utilization improvement acr...
Buy Craftsman automation Ltd For Target Rs.5,800 - Motilal Oswal Financial Services
Buy Craftsman automation Ltd For Target Rs.5,800 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-11-08 12:30:54 pm
Uno Minda rises on getting nod to set up manufacturing unit for four wheel-alloy wheels UNO Minda is currently trading at Rs. 591.10, up by 10.10 points or 1.74% from its previous closing of Rs. 581.00 on the BSE. The scrip opened at Rs. 584.95 and has touched a high and low of Rs. 598.00 and Rs. 581.95 respectively. So far 28119 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 rises on getting nod to set up manufacturing unit for four wheel-alloy wheels
Uno Minda rises on getting nod to set up manufacturing unit for four wheel-alloy wheels
Source: Accord Fintech
2023-11-07 04:41:09 pm