2 Stocks To Buy For Gains Up To 40% For The Long Term

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Buy Gujarat State Petronet

Motilal Oswal Institutional Equities has set a price target of Rs 450 on the stock of Gujarat State Petronet as against the current market price of Rs 321.

“We expect spot LNG prices to return to normal levels post winter (i.e. end of FY22) as seasonal gas demand subsides, with supply constraints being resolved.

Reliance Industries has bought 8mmscmd (4.8mmscmd/3.2mmscmd in auction-II/III) of its own KG basin gas. Various companies (like GSPC, Essar Steel, and GSFC) have procured gas in two rounds of auctions. We believe substantial volume will flow to Gujarat and thus on the pipeline of Gujarat State,” the brokerage has said.

Reasons to buy the stock of Gujarat State Petronet

Reasons to buy the stock of Gujarat State Petronet

Motilal Oswal says that it reiterate its belief that volumes for Gujarat State would jump to 44mmscmd in FY23 as the company is also a beneficiary of: a) the upcoming LNG terminals in Gujarat, and b) increased demand due to focus on reducing industrial pollution (Gujarat has five geographical areas, or GAs, identified as severely/critically polluted), and c) commissioning of Mehsana-Bhatinda pipeline.

“The stock trades at 16x FY23E EPS and 10x FY23E EV/EBITDA. Investments in Gujarat Gas and Sabarmati Gas, at 25% holding discount, offer a valuation of Rs 307. Valuing the core at 7x (long term trough valuation) adjusted Dec’23E EPS of Rs 20.5 and adding the value of investments, we arrive at a target price of Rs 450 per share,” the brokerage has said.

Buy NOCIL, says Motilal Oswal

Buy NOCIL, says Motilal Oswal

According to Motilal Oswal Financial Services the management guided that the priority would be to undertake debottlenecking at existing units in the near term, while long-term planning for the next 3-5 years is under evaluation. Specialized products form 25% of the total revenue, and any new capex announcement in this category would be both realization and margin accretive.

The brokerage has also recommended buying the stock of NOCIL. The firm has set a price target of Rs 320 on the stock, which is around 23% higher from current levels.

“The management continues to believe optimal capacity utilization for the expanded capacity (of 110ktpa) would be achieved by 1HFY24. Although, being conservative, we expect the same by end-FY24 (translating to a volume CAGR of 18%). Based on the aforementioned factors, we forecast a revenue/EPS CAGR of 26%/45% over FY21-24E,” the brokerage has said.

“Valuing the company at 22x Dec’23 EPS, we arrive at Target Price of INR320. We reiterate Buy, with a decent upside on the stock. A key risk to our call would be further margin suppression hereafter if tyre import restrictions are lifted,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of Motilal Oswal Institutional Equities. 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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Intra-day Buy And Sell Stock Ideas From Technical Analysts

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Investment

oi-Sunil Fernandes

|

Markets saw solid gains on Monday led by good buying by domestic institutional investors. Here are a few stock ideas to buy and sell by technical analyst.

Manoj Dalmia, Founder and Director, Proficient Equities Private Limited

Usha Martin: Buy the stock at Rs 96.60, Sell at Rs 108, Stop Loss at Rs 92.40

Ravi Singhal, Vice chairman, GCL Securities Limited

Chola Fin: Buy the stock at Rs 638, Target Rs 670, Stop Loss Rs 629

Dr. Ravi Singh, Head of Research & Vice President, Share India

Bhel: Buy at Rs 214, Target Rs 222, Stop Loss Rs 211
Bharat Forge: Buy at Rs 817, Target Rs 838, Stop Loss Rs 810

Intra-day Buy And Sell Stock Ideas From Technical Analysts

Disclaimer

The above stock has been 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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Hiring in banks up 25% to cater to rising loan demand, BFSI News, ET BFSI

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Banks are stepping up hiring to cater to the growing demand for home loans. Hiring has gone up 22-25% in the last few months across urban and rural markets as demand for home loans has surged, according to various reports.

About 90 per cent of the requirement is in the sales function, with starting salaries of Rs 15,000 to Rs 20,000, along with incentives. Hiring is across the board at NBFCs, small finance banks and non-banking finance companies, and hiring costs are rising as employees are shifting jobs within the sector.

NBFCs

Shriram Group is hiring 5,000 across its many companies, while ICICI Home Finance is looking to onboard 600 employees by December.

The Shriram Group is recruiting mainly in south and north India, across tier 3-4 cities. Shriram City Union Finance is expanding its gold loan business,

while Shriram Housing Finance is expanding primarily in Andhra Pradesh and Telangana.

Banks

HDFC Bank is aiming to reach 200,000 villages in the next 24 months, and plans to hire more than 2,500 people in the next six months.

The bank aims to double its presence in the next 18-24 months through a combination of branch network, business correspondents, business facilitators, CSC (common service centres) partners, virtual relationship management and digital outreach platforms.

The bank will hire 500 relationship managers to expand the coverage of its Micro, Small and Medium Enterprises (MSME) vertical to 575 districts or more by the end of this fiscal. Out of these, half will be for the small and medium sub-vertical, which already has a headcount of 975. This hiring will take the private bank’s MSME vertical headcount to 2,500. India’s largest private sector lender had an employee strength of around 1.23 lakh as of June.

Credit Suisse has plans to hire over 1,000 staff in India this year for a technology innovation office, while Deutsche Bank is looking to hire 1,000 people in India, including 300 graduates and 700 lateral hires. Meanwhile, Kotak Mahindra Bank has resumed its hiring process, and has reached near pre-Covid levels.

Data analysts

From banking to FinTech companies, data analysts are in demand. These companies are looking for professionals who can handle data using technology and glean relevant information from it.

FinTechs are also beefing up marketing and sales teams and are looking beyond commerce and engineering backgrounds with a background in data analysis, artificial intelligence and exceptional soft skills. They are looking to pay higher salaries who have Big Data, advanced analytics and financial skills.



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Notices sent to Dish TV, YES Bank; UP Police freezes bank’s stake in DTH firm, BFSI News, ET BFSI

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The crime branch of the Gautam Buddha Nagar in Uttar Pradesh has sent notices to Dish TV and private sector lender Yes Bank under Section 102 of the CrPC and taken custody of the shares held by the bank in the direct-to-home (DTH) firm.

The local police have also formed a special investigation team under the direction of the commissioner of police, Gautam Buddha Nagar, to investigate an FIR lodged on September 12, 2020, on a complaint by Subhash Chandra, chairman of the Essel Group.

The notice was issued on November 5, by Girish Prasad Raj, the in-charge inspecting officer of enquiry. As per the notice, a copy of which was accessed by ET, the police have taken custody of the 44,53,48,990 shares of Dish TV (amounting to over 24.19% stake), which are currently with YES Bank.

After the notice, Yes Bank has been restrained from any transaction of these shares or exercising any rights as a shareholder till further orders or until completion of the investigation.

Replying to an ET query, a YES Bank spokesperson said, “As a matter of policy, we don’t revert on client-specific issues and actions being taken by the bank. However the bank is not in receipt of any such notice from any authority at this point in time.”



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Buy This Chemicals Stock For 46% Upside Suggests ICICI Direct

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About the company:

The company here we are talking about is Philips Carbon Black and is into manufacturing carbon black that is used as a reinforcing material for manufacturing tyres. The company also gets its sales volume from speciality carbon black, which fetches high margins and finds application in paints, plastics among others. Other positives about the company’s financials are low leverage with debt/ equity ratio standing at 0.3x. Other than that it has a healthy margin profile (15%+), a capital efficient business model

(RoCE>15%).

Q2FY22 Results:

Q2FY22 Results:

The company’s results for the September quarter stood strong with sales volume of carbon black registering growth QoQ. PCBL reported a robust performance in Q2FY22. Consequent PAT in Q2FY22 was at Rs. 121.5 crore, up 16.5% QoQ.

Advice to investors by the brokerage on the stock

The company in the last 5 year has gained almost 5 times from a stock price of Rs. 45 in November 2016 to Rs. 225 currently. “We maintain our positive view and retain BUY rating on the stock Target Price and Valuation: We value PCBL at | 320 i.e. 12x P/E on FY23E EPS.”, says the brokerage firm.

Triggers for future performance

Triggers for future performance

Tyre ancillaries will witness growth on account of cyclical recovery in CV segment as well as amid increasing demand for personal mobility driving sales

in the 2-W & PV segment.

• Healthy double digit growth is foreseen. We expect sales, PAT to grow at 23%, 21%, CAGR, respectively, in FY21-24E, building in 11.4% volume CAGR

• With greenfield expansion under execution, long term growth prospects are robust amid limited competition in overseas markets

• Trades at inexpensive valuation of

Alternate Stock Idea:

Alternate Stock Idea:

In mid, small cap coverage, we also like VST Tillers & Tractors iterates the brokerage firm. It is a leader in domestic power tiller space and a key beneficiary of import restrictions in the category. Successful launches in higher hp tractor space. Capital efficient, cash rich b/s. BUY with a target price of Rs. 3180.

Disclaimer:

Disclaimer:

The above stock has been picked from the brokerage report of ICICI Direct. 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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Ujjivan Small Finance Bank net loss widens to Rs 274 crore on poor asset quality, higher provisions

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According to a release issued by the bank, its disbursement increased to Rs 3,122 crore in the reporting quarter, higher by 114% on-year and 138% on a sequential basis.

Ujjivan Small Finance Bank (SFB) on Monday reported a net loss of Rs 274 crore for the quarter ended September 30, owing to poor asset quality and higher provisions. The lender had logged a net loss of Rs 233 crore in the previous quarter. It, however, had reported a net profit of Rs 96 crore a year ago.

During the quarter under review, Ujjivan SFB’s gross non-performing asset ratio (NPA) rose sharply to 11.80% from 9.79% as on July-end and 0.98% a year ago. Net non-performing assets rose to 3.29% as on September-end from 2.68% a quarter ago and 0.14% in the corresponding quarter of the previous year.

Owing to deteriorating asset quality, Ujjivan SFB’s provisions rose to Rs 436.88 crore in the reporting quarter, lower than Rs 473.21 crore in the previous quarter.

“We have done major restructuring and taken accelerated credit provisions during the quarter. We believe, subject to potential third wave of Covid, our GNPA has peaked out and will gradually reduce hereon,” said Martin PS, officer on special duty at Ujjivan Small Finance Bank.

In the reporting quarter, the lender has restructured total loans amounting to Rs 962 crore, taking the total quantum of restructured loans to Rs 1,480 crore. It has made Rs 504-crore provision against its restructured book as on September-end, as per its investor presentation.

According to a release issued by the bank, its disbursement increased to Rs 3,122 crore in the reporting quarter, higher by 114% on-year and 138% on a sequential basis. Its gross advances, as on September-end, stood at Rs 14,514 crore, up 5% on year.

“We continue to focus on diversification with non-micro banking book contributing 34% (as against 32% as of June’21) to the total asset portfolio. We have acquired 1.8 lakh new retail customers during the quarter; retail deposits proportion increased to 52% of the total deposits, as against 48% as of June’21,” said Martin P.S.

Net interest income—difference between interest earned and expended—increased 17% on a yearly basis to Rs 391 crore in the reporting quarter, while the net interest margin stood at 8.1%, lower than 10.2% a year ago.

Total deposits rose 31% on-year to Rs 14,090 crore as on September-end, when the capital adequacy ratio stood at 22.2%, lower than 31% a year ago.

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Quarterly Results: Sundaram Finance Q2 net up 10%

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The capital adequacy ratio stood at 23.4% (tier I at 16.3%) as on September 30, 2021 as compared to 19.3% (tier I at 13.7%).

Sundaram Finance (SFL) on Monday reported a net profit of Rs 211 crore for the second quarter of FY22, compared with Rs 192 crore in the corresponding quarter of last fiscal, recording a growth of around 10%. Total income of the Chennai-based company grew 3% to Rs 1,025 crore, against Rs 998 crore.

SFL in a statement said the second quarter witnessed recovery across most macro-economic indicators. Disbursements for the quarter recorded a growth of 14% to Rs 3,621 crore, compared to Rs 3,174 crore in Q2 FY21.

Gross NPA and net NPA as on September 30, 2021 stood at 3.85% and 2.48%, respectively, compared with 4.59% and 3.38%, respectively, as on June 30, 2021 and 2.44%and 1.44% as on September 30, 2020.

Harsha Viji, executive vice chairman, SFL, “Every month in the second quarter has seen improvement in both business growth and collections. The vicious second wave appears behind us. That said, overall recovery to a new normal will take time. Customer sentiment has significantly improved, and the second half of the year will likely see broad-based recovery.”

The capital adequacy ratio stood at 23.4% (tier I at 16.3%) as on September 30, 2021 as compared to 19.3% (tier I at 13.7%).

Rajiv Lochan, MD, said :“We have made good progress on both growth and asset quality in the second quarter. While stress continues in Covid-impacted sub-sectors, we remain focused on supporting our customers in resuming their business activity from the disruptions imposed by the pandemic. Despite supply challenges due to the global chip shortage, demand is improving across asset classes.”

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Quarterly Earnings: Karur Vysya Bank net profit jumps 43% in Q2

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Total deposits grew 7% to Rs 65,410 crore, up from Rs 61,122 crore. The growth was aided by sustained improvement in CASA portfolio and retail term deposits, it added.

Karur Vysya Bank (KVB) on Monday reported an increase of 43.5% in its net profit to Rs 165 crore for the second quarter of FY22, as against Rs 115 crore in the corresponding quarter of the previous year. Total income stood flat at Rs 1,561 crore, compared with Rs 1,577 crore.

KVB in a release said the net interest income for the quarter improved by 13.1% to Rs 680 crore, as against Rs 601 crore, while the net interest margin stood at 3.75%. Fee-based income (excluding treasury profit) was at Rs 144 crore, compared to Rs 119 crore during the year-ago period. Treasury profit was lower at Rs 16 crore as compared to Rs 120 crore during the same period last year.

Gross NPA declined by 55 bps to 7.38% (Rs 3,972 crore), compared with 7.93% (Rs 3,998 crore) a year ago. Net NPA stood at Rs 1,538 crore as against Rs 1,428 crore. The provision coverage ratio was at 76.28% (75.19% a year ago). The Basel III CRAR was at 18.82% (with CET1 ratio of 16.79%), up from 18.41%, it said.

The total business stood at Rs 1,19,260 crore, registering a Y-o-Y growth of 7% from Rs 1,11,530 crore. Gross advances grew 7% YoY to Rs 53,850 crore, from Rs 50,408 crore a year ago. Improved credit offtake in the retail and business segments as well as jewel loan portfolio, backed by digital processing and improved sourcing of loans through various channels, aided the credit growth, the release said. The jewel loan portfolio registered a Y-o-Y growth of Rs 2,319 crore (21%) and stood at Rs 13,460 crore.

Total deposits grew 7% to Rs 65,410 crore, up from Rs 61,122 crore. The growth was aided by sustained improvement in CASA portfolio and retail term deposits, it added.

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