Month: November 2021

7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

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Investment

oi-Roshni Agarwal

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Angel One previously known as Angel Broking is the largest independent full-service retail brokerage firm. The firm based on its proprietary research aims to provide exhaustive and accurate data to every online share trader. Likewise, it comes up with stock recommendations for intra-day trade as well as long term picks.

7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

For today i.e. November 29, 2021, after the markets have recovered some of the last week’s whopping losses to the tune of 4% on the Sensex, are trading on a positive note. Sensex at around 12:49 pm traded firm with gains of over 400 points, while Nifty is at 17,128 points.

Here are the intra-day buy and sell recommendations of Angel Broking:

Intraday Cash Buy ideas

Apollo Hospitals: Buy Apollo Hospitals in the price range of Rs. 5787-5795 for a target price of Rs. 6042. Stop loss suggested for the trade is Rs. 5648.7

HCL Tech: Buying price range -Rs. 1132-1133 for a target price of Rs. 1195 with a SL of Rs. 1100

Power Grid: Buy Power Grid at the rate of Rs. 201.45-202.45 for a target of Rs. 210. Stop loss given for the suggested trade is Rs. 197.8

Pfizer: Buying initiation range @ Rs. 5380-5390; target price – Rs. 5600. Stop loss – Rs. 5275

IndiaMart: Buy IndiaMart for a price target of Rs. 7527 in the price range of Rs. 7302-7307, SL- Rs. 7177.

Reliance Industrial Infra: For a price target of Rs. 729, buy this scrip in the range of Rs. 694.1-696.1; SL- Rs. 677

Intraday Cash Sell ideas:

Power Finance Corporation: Sell PFC @ Rs. 117.7-118.7 for a target of Rs. 114; SL- Rs. 119.9

GoodReturns.in



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“BUY” This Mid Cap Auto Stock With A Target Price of Rs. 2000: HDFC Securities

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Q2FY22 results of Escorts Ltd

According to the brokerage “Escorts reported a subdued set of numbers in Q2FY22 as irregular and uneven rainfall impacted demand for tractors. Operating income stood at Rs 1662cr, growing marginally. Agri Machinery revenues decreased 6% YoY to Rs 1241 due to a 14% YoY decline in tractor volumes offset partially by an improved realisation of 9% to Rs 5.9 lakh/unit. Construction Equipment(ECE) division revenue surged 58% YoY to Rs 249cr, as sales volume increased 31% to 1074 units. Railway Equipment Division (RED) recorded a topline of Rs 170cr vs. Rs 160cr in Q2FY21.”

The brokerage in its research report has claimed that the company’s “EBITDA fell 30% YoY to Rs 210cr while EBITDA margin contracted 570bps to 12.6% on account of the adverse impact of rising commodity prices, negative operating leverage, and low volumes. The company reported a PAT of Rs 177cr, a decline of 23% YoY. For the month of Oct, its exports business recorded a robust sales growth of 58% YoY to 765 units v/s 484 in Oct’21. However, in the domestic market, there was a decline of 3%. The sales volume for the domestic business for the month of October stood at 12749 v/s 13180 in Oct’21. Escorts Construction Equipment sales grew by 15.8% in Oct’21. It sold 462 machines, as against 399 machines sold in Oct/20.”

Key triggers for future performance according to HDFC Securities

Key triggers for future performance according to HDFC Securities

The brokerage has reported that “The Board of Escorts approved a preferential allotment of 93.6 lakh shares to Japan’s Kubota Corporation at Rs 2000/share for a total consideration of Rs 1873cr. This would trigger an open offer by Kubota for a 26% stake in Escorts. Assuming that the open offer is successful and the entire treasury shares (held in Escorts Benefit & Welfare trust) are cancelled Kubota would have a 53.5% stake in the company, which could further increase as it evaluates to merge its two JVs in India with Escorts. The Board also proposed to increase the limit on the maximum number of directors of the Company from 15 to 18 as it plans to have four directors nominated by Kubota (from two currently), four nominated by the promoters and eight independent directors.”

HDFC Securities has also commented in its research report that “Investors looking for short-term gain can buy the stock at a current price of ~Rs 1820. The acceptance ratio of shares in the open offer can be between 60-100% vs the theoretical ratio of 51%. As per the Sep-2021 shareholding pattern, FIIs hold a 21.5% stake in the company, DII holds a 7.6%, HNIs (upto Rs 2 lakh nominal value) hold 7.2% and other retail shareholders hold 12.7% stake. We expect institutions could tender 40- 50% of their holdings and the overall acceptance ratio to be between 75-85%. Existing Promoter i.e. the Nanda Family are not selling any shares and continues to remain fully invested in the Company. Assuming that the open offer is completed in 3 months and there is full acceptance of shares, an investor can earn an annualized return of ~40%.”

“We continue to remain bullish on the prospects of the company over the medium term and even if the price falls post the open offer investors need not panic and can continue to hold on to the stock given the MNC pedigree. Kubota’s plan to acquire a majority stake in Escorts lends credence to its commitment to this partnership. Kubota is likely to leverage India’s low-cost base in sourcing products like farm implements, construction equipment and components which could drive strong growth for Escorts in the medium to long term” said HDFC Securities.

Buy Escorts Ltd with a target price of Rs. 2000

Buy Escorts Ltd with a target price of Rs. 2000

According to the brokerage’s call “The company continues to be net debt-free with sufficient available liquidity for growth. Also, the Kubota induction as a majority promoter and outlook of recovery in railway/construction space is encouraging. We expect Escorts Revenue/EBITDA/PAT to grow at 9/6/6% CAGR over FY21-FY24, led by improvement in domestic volumes and increased exports. At the current price, the stock trades at 18.6x Sep-23 EPS estimate which is not expensive given its strong medium term prospects post-Kubota becoming the majority stakeholder.”

“We believe investors can buy the stock in the band of Rs 1800-1830 and add on dips to Rs 1650-1680 band (17x Sep-23E EPS) for a base case fair value of Rs 2000 (20.5x Sep-23E EPS) over the next 2 quarters. Investors can offer their shares in the open offer expected over the next few months at Rs 2000. Post the completion of the offer we expect the stock price to react downwards, but over the medium term, the open offer price may be exceeded” the brokerage claimed.

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of HDFC Securities Limited. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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IBC to get welcome cross-border teeth, BFSI News, ET BFSI

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The government’s reported move to adopt a legal framework for cross-border insolvency resolution is welcome. It would enlarge the scope for debt recovery, provide comfort to foreign investors and improve the ease of doing business here. In a rapidly globalising economy, the impact of any business failure transcends national boundaries. An insolvent debtor can have assets and creditors in more than one country.

Rightly, India wants to adopt the UNCITRAL Model Law of Cross Border Insolvency, 1997, aligning with global practice. It will enable foreign creditors to start or participate in insolvency proceedings in India, sell or attach assets of the debtor to recover their loans. Similarly, Indian creditors will receive assistance from other countries that have adopted this model law. Any incentive to create assets overseas to escape domestic creditors would disappear. The UN model law gives precedence to domestic proceedings and protection of public interest. It also fosters cooperation between domestic and foreign courts and insolvency professionals. India’s draft legal framework, to be a part of the Insolvency and Bankruptcy Code (IBC), excludes banking and financial services, as well as pre-packs for small businesses.

The draft distinguishes between foreign main proceedings and foreign non-main proceedings to determine the level of control that a jurisdiction has over the insolvency resolution process, and the extent of relief that the National Company Law Tribunal can grant. NCLT’s adjudication capacity must be beefed up, if it has to work on par with foreign counterparts. Lenders (read Indian banks) too must act swiftly at the first sign of distress to prevent other, foreign, creditors from initiating insolvency proceedings.



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Motilal Oswal Recommends To ‘Buy’ This Pharma Stock For +30% Upside, While The Equity Market Is Down For Omicron Coronavirus

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Target Price

The Current Market Price (CMP) of Solara Active Pharma is Rs. 1169. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 1520. Hence the stock is expected to give a 30% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 1169
Target Price Rs. 1520
1 year returns 30.00%

Company performance

Company performance

The company’s sales stood at Rs. 16.2 b, in FY 2021, and Motilal Oswal is expecting Rs. 23.6 b sales in FY22 and Rs. 27.5 b sales in FY 23. on the other hand, adjusted PAT was Rs. 2.2 b in FY 21; the firm is anticipating Rs. 3.6 b PAT in FY 22, and a Rs. 4.5 b PAT in FY 23. On account of reduced demand, Ibuprofen prices had corrected by 20-25% over the past 5-6 months, affecting the operating margins from this product. However, prices at the API level are now stable.

Comments by Motilal Oswal

Comments by Motilal Oswal

Maintaining a buy rating Motilal Oswal said, “SOLARA is progressing well on building a niche product pipeline and broadening its presence in the regulated and ROW markets.” The brokerage firm added, “Additionally, SOLARA is progressing well on ramping up the production of Isobutyl Benzene, a key RM used in the manufacturing of Ibuprofen. This would offset the drop in profitability, to some extent, over the near-to#medium term.”

About the company

About the company

Solara Active Pharma Sciences is a dynamic, entrepreneurial, and customer-oriented API manufacturer. They have 140+ scientists working at their 2 R&D Centers, and 5 API manufacturing facilities armed with global approvals and 2 dedicated R&D facilities.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Motilal Oswal Recommends To ‘Buy’ This Pharma Stock For +30% Upside, While The Equity Market Is Down For Omicron Coronavirus

Personal Finance

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Target Price

Target Price

The Current Market Price (CMP) of Solara Active Pharma is Rs. 1169. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 1520. Hence the stock is expected to give a 30% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 1169
Target Price Rs. 1520
1 year returns 30.00%

Company performance

Company performance

The company’s sales stood at Rs. 16.2 b, in FY 2021, and Motilal Oswal is expecting Rs. 23.6 b sales in FY22 and Rs. 27.5 b sales in FY 23. on the other hand, adjusted PAT was Rs. 2.2 b in FY 21; the firm is anticipating Rs. 3.6 b PAT in FY 22, and a Rs. 4.5 b PAT in FY 23. On account of reduced demand, Ibuprofen prices had corrected by 20-25% over the past 5-6 months, affecting the operating margins from this product. However, prices at the API level are now stable.

Comments by Motilal Oswal

Comments by Motilal Oswal

Maintaining a buy rating Motilal Oswal said, “SOLARA is progressing well on building a niche product pipeline and broadening its presence in the regulated and ROW markets.” The brokerage firm added, “Additionally, SOLARA is progressing well on ramping up the production of Isobutyl Benzene, a key RM used in the manufacturing of Ibuprofen. This would offset the drop in profitability, to some extent, over the near-to#medium term.”

About the company

About the company

Solara Active Pharma Sciences is a dynamic, entrepreneurial, and customer-oriented API manufacturer. They have 140+ scientists working at their 2 R&D Centers, and 5 API manufacturing facilities armed with global approvals and 2 dedicated R&D facilities.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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HDFC Bank | IndusInd | DCB: RBI allowing promoters to have 26% stake to benefit HDFC Bank, IndusInd & DCB: Siji Philip, BFSI News, ET BFSI

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“RBI has remained silent on the NBFCs getting converted into banks and also large corporates getting more into the banking game. We feel that the RBI is taking a more calibrated approach and looking at how NBFCs are getting attuned to larger scale regulations which were announced earlier,” says Siji Philip, Senior Research Analyst, Axis Securities.

The RBI’s new circular on bank ownership has come out allowing 26% stake to promoters. Already reports are coming in of the Hindujas looking at increasing their stake in IndusInd and a $1.1 billion financial chest for that sense being readied; HDFC Limited now has headroom when it comes to HDFC Bank. Bandhan Bank there could see action as well. Your view?.
Whatever steps were announced on Friday in terms of the promoter shareholding definitely is a positive because there was uncertainty and some expectations were building up. Raising the promoter stake from 15% to 26% would definitely be a positive, more specifically for banks like IndusInd where the promoters have earlier shared their intention of increasing their stake. In the case of HDFC Bank, HDFC Limited can increase its stake, Aga Khan promoters can raise their stake in DCB. So for these kinds of banks, it is definitely a positive step.

There are certain guidelines which have been announced and the recommendations are on track on gradual calibration with the entire financial industry. RBI has remained silent on the NBFCs getting converted into banks and also large corporates getting more into the banking game. We feel that the RBI is taking a more calibrated approach and looking at how NBFCs are getting attuned to larger scale regulations which were announced earlier.

RBI clearly is still reluctant on issuing bank licenses to large corporates. To add to that, payment banks are also allowed to convert into SFBs but only after a gap of almost five years. With large numbers of fintechs and SFBs now, is there a need to issue more licenses?
We feel that RBI has always been about granting banking licenses and if the payment banks get listed, definitely a watch period is required to see how things pan out, how the entire financial system gets attuned to the various new entities which are coming in with the likes of fintechs.

Just a three-year proposal, which was given in the earlier recommendation, would be considered a slightly shorter duration compared to a five-year duration where one can see the gradual working and how it plays out in the financial system. That would be one of the key reasons why the five-year period has been kept rather than switching to a three-year period.



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Omicron Covid variant: Policymakers, markets will shoot from the hip without data, says Uday Kotak

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With the Omicron variant scare gripping the world, people, markets, and policymakers worldwide will shoot from the hip in crisis management without data, Uday Kotak said on Monday.

“Omicron variant scare today, something else tomorrow. People, markets, and policymakers worldwide will shoot from the hip in crisis management without data. Welcome to the ‘never’ normal world we live in!” Kotak tweeted.

Kotak’s comment comes even as many countries have once again begun shutting down cross-border travel. Currency and stock markets around the world crashed on Friday as a knee-jerk reaction.

Meanwhile, WHO designated the variant B.1.1.529 a variant of concern, named Omicron, on the advice of WHO’s Technical Advisory Group on Virus Evolution (TAG-VE). This decision was based on the evidence presented to the TAG-VE that Omicron has several mutations that may have an impact on how it behaves, for example, on how easily it spreads or the severity of illness it causes.

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Paytm Payments Bank rolls out ‘Paytm Transit card’

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Paytm Payments Bank (PPBL) has rolled out a ‘Paytm Transit Card’, aiming to equip millions of Indians with one physical card for all their everyday needs — from travel in metro, railways, State-owned bus services, toll & parking charges to payments at offline merchant stores, online shopping and more.

The first phase of rollout is being launched in collaboration with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line.

The card linked to the Paytm Wallet can be used for all transactions of a user — from travel in metros, buses and trains, to pay toll and parking charges, payment at offline and online stores to withdrawal of cash from ATMs.

Users can top up the Paytm Wallet account to use the card and do not need to maintain any separate account. Satish Gupta, MD & CEO of Paytm Payments Bank said, “The launch of the Paytm Transit Card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs. This will drive financial inclusion and accessibility for all. We are glad to be a part of the NCMC initiative and will continue to work towards the digitisation of the transit ecosystem in the country while driving the adoption of smart mobility solutions.”

With this launch, users won’t have to worry about carrying multiple cards for different purposes and just use the Paytm Transit Card for all their payments.

The launch of the Transit Card is aligned with the firm’s initiatives to bring out products that make banking and transactions seamlessly operable for all Indians. ‘Paytm Transit Card’ would help promote National Common Mobility Card (NCMC) and the Digital India initiative further.

How it works

The physical card will be delivered at the doorstep of the user or can be purchased at designated sales points. The prepaid card is directly linked to the Paytm Wallet, where users can just top-up the wallet to use the transit card and do not need to create any separate account.

The Paytm Transit Card is already live in the Delhi Airport Express line and Ahmedabad Metro. With the Paytm Transit Card, people can use the same card in these metros as well as other metro stations across the country.

Paytm Transit Card is the firm’s second product in the mass transit category after the success of PPBL FASTags. .

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Bharat Financial top management resignations: Board defers relieving them till completion of review, says IndusInd Bank

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The top management of Bharat Financial Inclusion Ltd – Shalabh Saxena and Ashish Damani have resigned from their positions, but the board has decided to defer the consideration to relieve them until an ongoing review is completed, IndusInd Bank said on Monday.

A review of disbursal of nearly 84,000 loans without customer consent due to a technical glitch at BFIL is going on at the microfinance company.

“Shalabh Saxena and Ashish Damani, currently employed with BFIL in the capacity of the Managing Director and CEO and the Executive Director and CFO, respectively, have tendered their resignations pursuant to emails addressed to the Chairman of the Board of BFIL on November 25, 2021,” the private sector lender said in a stock exchange filing on Monday.

The announcement comes after Spandana Sphoorty (SSFL) had on November 22 announced the appointment of Saxena as its new Managing Director and CEO and Damani as the President and Chief Financial Officer.

BFIL is the wholly-owned microfinance subsidiary of IndusInd Bank.

Both of them have offered to assist in the ongoing review of transactions related to BFIL, for which the bank has appointed an international audit firm to conduct an independent review and ascertain the veracity of the anonymous complaints, the bank further said.

“The Board of BFIL has deferred consideration of the decision to relieve them until the completion of the ongoing review,” IndusInd Bank said.

The lender has nominated J Sridharan as Executive Director on the Board of BFIL and appointed Srinivas Bonam to oversee the day-to-day functioning of BFIL, it further said.

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“BUY” This Mid Cap IT Stock With A Target Price of Rs. 1200: Axis Securities

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Q2FY22 results of Cyient Ltd

Axis Securities in its research report has said that “Cyient reported robust results in Q2FY22 with revenue for the quarter at Rs 1,112 Cr, improving by 4.6 % QoQ and 11.2% YoY. Operating Margins expanded by 90bps QoQ to 15.5%. Operating margins of the Services segment grew by 90bps QoQ and stood at 15.5%. DLM margins stood highest at 6.8%, advancing from 5.6% in the quarter before and were driven by the company’s strong execution during the quarter. The company’s Net profit for Q2FY22 stood at Rs 121 Cr, registering a growth of 5.5% QoQ. The management expects double-digit revenue growth for FY22 with the Communications growth to be led by Network Transformation, E&U (to be benefited from IG Partners acquisition), and Transportation (to be led by the Rail).”

Buy Cyient Ltd with a target price of Rs. 1200

Buy Cyient Ltd with a target price of Rs. 1200

The brokerage has claimed that the company’s “DLM business is expected to grow in the range of 15% to 20% and Operating Margins to improve by 250bps-300bps. The deal pipeline continues to look healthy at $63 Mn (6 deals in the pipeline). Growth in key accounts and a few large deal wins (4 key deals in fibre, wireless, system integration, and 5G rollout) and accelerated deployment of 5G led segment significantly contributed to the Communication vertical’s growth. The company’s outlook remains positive, supported by robust investments in technology-led network transformation and accelerated deployment of broadband and wireless infrastructure. We recommend a BUY rating on the stock with a target price of Rs 1,200/share.”

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of Axis Securities Limited. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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