Author: root

Buy Bharat Forge for 25% returns, says Emkay Global

Emkay Global sees the possibility of a rally in the stock of Bharat Forge from the current levels of Rs 741 to levels of Rs 920 in 1 year’s time. This implies a return of nearly 25% on the stock from current levels.

The company is the world’s leading forging manufacturer. “Bharat Forge’s revenue is expected to grow by 51% in FY22E, led by a strong performance in Automotive and Industrial segments. Moreover, customer additions, higher content and portfolio expansion should boost growth. Nascent segments, such as Defense, Railways, Aerospace, E-mobility and Light-weighting solutions, are expected to see robust growth,” Emkay Global has said.

Although the outlook for the global passenger vehicle’s segment has been lowered, the segment is expected to clock double-digit growth, owing to the pending order book, better macros and low channel inventory, Emkay Global has said. The outlook has been improved for the industrial segments, such as construction equipment and tractors. The global oil & gas segment is expected to witness a multi-year upcycle.

“Our positive view on Bharat Forge is underpinned by its leadership position in automotive forgings, focus on diversification and an expected recovery in the core segments. We

have a Buy rating on the stock with a target price of Rs 920, based on 27 times P/E for the standalone business on Sep’23E EPS,” the brokerage has said.

Tata Steel

Geojit has a buy call on the stock of Tata Steel. Tata Steel is a leader in the global steel industry with operations spanning over 26 countries with key operations in India, Netherlands and United Kingdom. Tata steel primarily caters to customers in automotive, construction, engineering, energy and power sectors

The company has accelerated capital expenditure allocation for expanding Kalinganagar – already spent Rs. 2,000 crores; Expected capex for FY22 is at Rs. 10-12kcrores and the 6 MTPA pellet plant and 2.2mn CRM complex are expected to be commissioned by H1FY22.

“We expect robust domestic demand recovery post pandemic accompanied by further deleveraging efforts and efficient capital allocation ensuring liquidity. We remain positive on the stock and reiterate our BUY rating on the stock with a revised target price of Rs. 1,745 using SOTP valuation,” the brokerage has said.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage houses are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only and is picked from the brokerage reports of Emkay Global and Geojit Securities. Be careful while investing as the Sensex has now reached the 56,000 points mark. Investors can invest small amounts and avoid putting lumpsum.

ADA Token

ADA is the Cardano blockchain’s native cryptocurrency, and it may be used to make global peer-to-peer exchanges. An Initial Coin Offering (ICO) issued 57.6 percent of the total 45 billion token supply to investors, bringing the ecosystem $62.2 million in cash.

Since the beginning of the year, the ADA token has risen by almost 1000 percent as of June 2021. Participants in the network can utilise the token for staking and the platform’s governance processes in addition to value transfer and trade. Because they serve as nodes that record the network’s current status, ADA stakers are also termed validators.

With a 24-hour trading volume of $8,130,894,956 USD, the current Cardano price is $2.85 USD. In the previous 24 hours, Cardano has gained 1.14 percent. With a live market cap of $91,667,111,447 USD, CoinMarketCap currently ranks #3. There are 32,143,062,275 ADA coins in circulation, with a maximum supply of 45,000,000,000 ADA coins.

Cardano History

Cardano was formed in 2017, and the ADA token was created to allow owners to participate in the network’s operation. As a result, holders of the cryptocurrency have the ability to vote on any proposed software updates.

According to the creators of the layered blockchain, there have already been several compelling use cases for the technology, which seeks to allow modular development of decentralised apps and smart contracts.

Agricultural organisations use Cardano to track fresh fruit from farm to fork, while other applications created on the platform enable for tamper-proof storage of educational credentials and merchants to crack down on counterfeit goods.

What Makes Cardano Unique?

Cardano is one of the most well-known blockchains to have successfully implemented a proof-of-stake consensus mechanism, which is less energy-intensive than Bitcoin’s proof-of-work method. Although Ethereum, which is much larger, will upgrade to PoS, this will be a gradual process.

The project has taken satisfaction in ensuring that all technology developed goes through a peer-reviewed research process, allowing for bold ideas to be tested before being verified. According to the Cardano team, academic rigour aids the blockchain’s durability and stability, boosting the likelihood of possible hazards being identified ahead of time.

Will Cardano price rise in the future?

On September 12, 2021, Cardano will receive a new update, which is likely to drive the price even higher. Keep in mind, however, that cryptocurrencies are extremely volatile, with the current crash being the most recent example.

Where to buy Cardano in India?

Users in India can invest in Cardano through a number of cryptocurrency exchanges. BuyUCoin, WazirX, and Bitbns are among the coins on the list. If a first-time investor visits these platforms, the website may request information such as an identification card, name, date of birth, and other personal information. These details are required for registration and are then used to identify the investor on such platforms once they have been shared.