Up to ₹18,000 Crore worth of newly issued equity shares make up the Vodafone Idea FPO's entire offer size.
Tata Motors did not specify which models will be produced at the new plant when it announced plans to invest in a new one in Tamil Nadu in March.
The BSE midcap index saw a decline of 0.5%, while the smallcap index concluded the day with marginal changes, ending on a flat note.
The dividend of ₹92 per share was approved by the board last year, after payouts of ₹80 per share in 2022 and ₹50 per share in 2021.
Regarding the assessment year 2022–2023, the notice poses questions about a number of financial transactions
Senior advocate Pramod Nair, representing the lessors, emphasized that the pleas were based on a judgment from the High Court of the United Kingdom and the contractual agreement between the parties.
The company is raising ₹500 Crore from the issue at a price of ₹1000 each. Investors need to apply for a minimum of 10 NCDs in a lot. The company has received rating of CRISIL AA/Stable by CRISIL Ratings Limited.
Company | LTP(₹) | Change(%) |
---|---|---|
BHARTIARTL | 1265.75 | +49.30 (4.05%) |
POWERGRID | 280.1 | +5.85 (2.13%) |
BAJAJ-AUTO | 9021.3 | +102.15 (1.15%) |
LTIM | 4697.15 | +34.30 (0.74%) |
Company | LTP(₹) | Change(%) |
---|---|---|
BHARTIARTL | 1267.2 | +50.50 (4.15%) |
POWERGRID | 280.2 | +5.85 (2.13%) |
INFY | 1420.55 | +5.80 (0.41%) |
LT | 3550.95 | +5.80 (0.16%) |
Company | LTP(₹) | Change(%) |
---|---|---|
APOLLOHOSP | 6074.15 | -260.60 (-4.11%) |
TITAN | 3525.1 | -120.80 (-3.31%) |
NESTLEIND | 2462.55 | -83.55 (-3.28%) |
COALINDIA | 438.6 | -14.60 (-3.22%) |
Company | LTP(₹) | Change(%) |
---|---|---|
NESTLEIND | 2462.75 | -84.40 (-3.31%) |
TITAN | 3526.4 | -120.65 (-3.31%) |
AXISBANK | 1024.15 | -28.65 (-2.72%) |
NTPC | 351.4 | -7.85 (-2.19%) |
Despite the recent re-rating, ILOM’s secular underpenetration story is intact, and its new focus and strategy could surprise positively, in analysts of IIFL Securities view. While the stock is trading at 32x FY25 P/E, it offers 26% EPS Cagr over FY24-26.
Sequential revenues to remain broadly flat.
Soft performance likely on growth and profitability.
Strong show expected (over the year-ago quarter) on all key parameters.
All eyes on outlook and revenue conversion of previously won deals.
Amidst rich sector valuations, KKC, BHE, ABB continue to provide comfort on risk-reward.
Companies having exposure to the Discretionary segment (Dyes, Pigments and Polymers) performed better.
While Crompton’s core performance was strong, losses in BGAL led to flat PAT.
Trent continues to be an outlier, driven by aggressive store additions in Zudio as well as healthy SSS growth in its fashion concepts (Westside + Zudio).
MDF margins remained under pressure with GREENP and CPBI reporting 20% and 19% margins respectively in Q3.
Aditya Birla SL PSU Equity Fund (G) | 1 Yrs Returns 95.90 | NAV 32.57 |
SBI PSU Fund (G) | 1 Yrs Returns 94.45 | NAV 29.3934 |
Invesco India PSU Equity Fund (G) | 1 Yrs Returns 87.28 | NAV 56.66 |
ICICI Pru PSU Equity Fund (G) | 1 Yrs Returns 83.73 | NAV 19.23 |
Quant Value Fund (G) | 1 Yrs Returns 76.31 | NAV 19.3539 |
DSP Credit Risk Fund (G) | 1 Yrs Returns 15.21 | NAV 39.7804 |
Nippon India Fixed Horizon-XLV-Sr.5 (G) | 1 Yrs Returns 8.74 | NAV 10.9158 |
TRUSTMF FMP - Series II (1196 Days) - Reg (G) | 1 Yrs Returns 8.54 | NAV 1088.5195 |
DSP Floater Fund (G) | 1 Yrs Returns 8.40 | NAV 11.884 |
DSP Strategic Bond Fund - Reg (G) | 1 Yrs Returns 8.36 | NAV 3035.4941 |
Quant Dynamic Asset Allocation Fund-Regular (G) | 1 Yrs Returns 57.97 | NAV 15.8087 |
JM Aggressive Hybrid Fund - (G) | 1 Yrs Returns 49.54 | NAV 107.7742 |
Quant Multi Asset Fund (G) | 1 Yrs Returns 47.81 | NAV 127.5377 |
ICICI Pru Retirement Fund - Hybrid AP (G) | 1 Yrs Returns 47.35 | NAV 21.94 |
Bank of India Mid & Small Cap Equity & Debt Fund (G) | 1 Yrs Returns 47.09 | NAV 33.67 |
Quant ELSS Tax Saver Fund - Regular (G) | 1 Yrs Returns 60.08 | NAV 366.4027 |
SBI Long Term Equity Fund (G) | 1 Yrs Returns 58.75 | NAV 377.1133 |
Motilal Oswal ELSS Tax Saver Fund (G) | 1 Yrs Returns 55.33 | NAV 42.2488 |
Bank of India ELSS Tax Saver (G) | 1 Yrs Returns 53.64 | NAV 152.82 |
ITI ELSS Tax Saver Fund (G) | 1 Yrs Returns 50.47 | NAV 21.1908 |
ICICI Pru Nifty PSU Bank ETF | 1 Yrs Returns 83.81 | NAV 69.78 |
Kotak Nifty PSU Bank ETF | 1 Yrs Returns 83.41 | NAV 690.64 |
Nippon India ETF Nifty PSU Bank BeES | 1 Yrs Returns 83.30 | NAV 77.03 |
ICICI Pru Nifty Financial Services Ex-Bank ETF | 1 Yrs Returns 41.54 | NAV 23.22 |
UTI-Nifty Bank Exchange Traded Fund | 1 Yrs Returns 13.51 | NAV 47.81 |
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Overall MF AUM fell in March, but retail shares further improved in the month.
The good news is that overall trade could push CAD to under 1% of GDP in FY24.
Overall MF AUM fell in March, but retail shares further improved in the month.
Despite the bounce in WPI inflation, the full year reading for FY24 was still in the negative.
It may not all-out war, but the implications for the Indian economy could be huge.
In conversation with Sheetal Agarwal of IIFL, management of the company explains its strengths, growth strategy and listing plans.
Sheetal Agarwal of IIFL caught up with management of the company, which is launching India's largest SME IPO. Edited Excerpts:
Sheetal Agarwal of IIFL in conversation with management of the IPO bound company. Edited Excerpts:
Sheetal Agarwal of IIFL brings you an insightful conversation about the relevance of ELSS investments today. Edited excerpts:
Sheetal Agarwal of IIFL chats with the management on the eve of the IPO.
Pursuant to cut in growth expectations for Q4FY24 (Mgmt guides for QoQ drop in sales), including softness in Mobile EMS, analysts of IIFL Securities cut FY24 EPS by 7%. Ex-Mobile EMS, revenue is lowered by 4/7% and Ebitda by 8/10%, respectively for FY25/26, given analysts of IIFL Securities cautious view on rebound in consumption.
Trading occupancy for Indore mall was up marginally QoQ. The new Bangalore mall (Mall of Asia) has also witnessed a steady ramp up, albeit will be slower due to higher share of premium/luxury brands.
In stainless steel, longs capacity at Indore will expand to 220kt by FY26 while Sambalpur would see a new 500kt flats capacity (incl 200kt CR) by FY27.
Its market share improved from 5.5% in Apr’23 to 8.5% in Mar’24. The exit ADTO stands at Rs90-100bn, implying a strong start to FY25. The Star-MF platform remains the preferred platform for MF distributors – FY24 volumes grew by 59% YoY to 421mn.
JB targets to double CMO revenue from USD50mn to USD100mn over the next 3-5 years, driven by geographic expansion, on-boarding new clients, and adding new lifecycle products.
While ILOM witnessed minor market share loss in the Motor segment last year, it has started to recoup the same with high growth in new private car segment. Presence of a multi-channel business model helped them navigate this business cycle. ILOM believes that with the new EoM regulations, industry CoR should improve; benefitting ILOM disproportionately.
System deposit growth has picked up to 3.5% QoQ/13.5% YoY (12.9% ex. HDFC merger), thereby narrowing the gap vs loan growth to 340bps from 540bps YoY. Based on prequarterly updates, deposit growth is strong at 3-16% QoQ and 7-42% YoY, driving LDR improvement of 25-600 bps across banks. CASA ratio also improved 40-255bps QoQ on seasonality, but is still down 1-10ppt YoY. While some of the seasonal gains will reverse in Q1, with improving cyclical factors analysts of IIFL Securities expect 13-14% system deposit growth in FY25. HDFC, SBI and ICICI rank high on our ‘liability franchise scorecard’, Axis is improving and Kotak is deteriorating
Analysts of IIFL Securities believe FY25 will be a year of normalization in Life as growth should revert to teens while margins would start witnessing stability with an upward bias
Consumers have adopted Ecommerce differently across different categories; E-commerce share for Mobiles stands at 58% but for large household appliances, it is only 17%. In the latter, consumers prefer to go to a physical store to check out the look and feel of the product, discuss warranty and exchange, get priority on installation and so on. In recent times, there is a bit of reverse migration from e-commerce to brick-and-mortar stores in mobiles as well. Analysts of IIFL Securities believe that brick-and-mortar organised retail would still grow at ~14% even allowing for some share loss to online platforms.
The scheme if extended for FY25, apart from gas IPPs, can also benefit gas importing / trading companies; assuming PLFs to increase to 30% (vs 14% in FY24), India would need to import additional ~5m MT LNG (25% more); GAIL (transmission + trading), PLNG (imports/trade) can materially gain from such imports; for every 1m MT incremental LNG imported, GAIL/PLNG may see 5-10% EPS upgrade; IEX may also gain from higher exchange volumes.
Analysts of IIFL Securities recommend to stay selective with firms providing better visibility (INFO/PSYS), while avoiding turnaround trades (TECHM/WPRO).
Analysts of IIFL Securities replace BAF with Chola Investment in their large-cap picks, along with removing Trent and Mankind after their recent OP, and retain their overall constructive stance. Geo-politics causing a sharp crude spike is a risk.
Script Name | Put | Call | Ratio |
---|---|---|---|
NIFTY | 71,384 | 88,967 | 0.80 |
AARTIIND | 2,715 | 4,770 | 0.57 |
ABB | 477 | 902 | 0.53 |
ABBOTINDIA | 9 | 37 | 0.23 |
Script Name | Put | Call | Ratio |
---|---|---|---|
NIFTY | 71,384 | 88,967 | 0.80 |
AARTIIND | 2,715 | 4,770 | 0.57 |
ABB | 477 | 902 | 0.53 |
ABBOTINDIA | 9 | 37 | 0.23 |
Since March 2022, when the Fed hawkishness first manifested, the Fed has hiked rates by 375 basis points. However, till June 2022, inflation was on the ascendant, when the US consumer inflation peaked at 9.1%. Since then, the inflation has gradually tapered from 9.1% to 7.7%. While a 140 bps fall may not sound substantial, what is notable is that in October 2022, the consumer inflation was lower than the consensus street expectation.
Mahindra & Mahindra Financial Services (M&M Finance), which posted better-than-expected profits for the September quarter, increased by as much as 10% during early trade on Thursday.
Steelcast announced that the Board of Directors of the Company at its meeting held on 20 October 2022, has recommended a Second Interim dividend of Rs.1.35 per share (i.e.27%), subject to the approval of the shareholders
T. Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), announced on Wednesday that the central bank will introduce its digital currency as a pilot project this year.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.