Raghav’s Value Investing

2024-06-13 13:44:10 Exide Industries
The business invested an additional ₹75 crore in its wholly-owned subsidiary Exide Energy Solutions through a rights-based subscription to its equity share capital. This brings the company’s total investment in EESL to ₹2,452.24 crore. Open / Comment

2024-06-13 13:41:14 Bajaj Steel Consolidated March 2024 Net Sales at Rs 173.89 crore, up 43.53% Y-o-Y

Net Sales at Rs 173.89 crore in March 2024 up 43.53% from Rs. 121.14 crore in March 2023.
Quarterly Net Profit at Rs. 22.55 crore in March 2024 up 31.95% from Rs. 17.09 crore in March 2023.
EBITDA stands at Rs. 38.16 crore in March 2024 up 27.75% from Rs. 29.87 crore in March 2023.
Bajaj Steel EPS has increased to Rs. 43.31 in March 2024 from Rs. 32.35 in March 2023.
Bajaj Steel shares closed at 1,460.20 on June 12, 2024 (BSE) and has given 37.55% returns over the last 6 months and 12.14% over the last 12 months.

Source: MC Open / Comment

2024-06-13 13:35:48 NBCC gets Rs 100 crore contract from Oil India to build centralised core repository with lab facilities

has bagged a Rs 100 crore contract from Oil India to construct a centralised core repository with advanced laboratory facilities at Guwahati in Assam. In a statement on Wednesday, NBCC said it has inked a Memorandum of Understanding (MoU) with Oil India for the construction of a centralised core repository with advanced laboratory facilities at Guwahati in Assam.
NBCC and OIL are also in the final stages of discussion for undertaking various other works, such as the execution of a hospital, group housing, guest house, installation of solar rooftop panels etc. in Assam. "The anticipated value of these works is Rs 900 crore approximately."
Source: ET Open / Comment

2024-06-13 13:33:18 Brigade Enterprises to invest Rs 8,000 cr in Chennai by 2030 to build homes, offices, malls, hotels

on Wednesday announced an investment of Rs 8,000 crore in Chennai property market for development of housing, commercial and hotel projects. In a regulatory filing, Brigade informed that "the company has planned an investment of over Rs 8,000 crores by 2030 in Chennai to expand its business in the city, with a strong pipeline of projects across the spectrum of residential, office, retail and hospitality for over 15 million square feet."

The Gross Development Value of the residential projects alone is estimated to be over Rs 13,000 crore.
Brigade also announced the launch of a new project, 'Brigade Icon Residences', which is part of a mixed-use development located in the heart of Chennai's historic Mount Road. The GDV will be over Rs 1,800 crore.
Brigade Group has a pipeline of over 15 million square feet across all the segments, with the residential segment comprising over 12 million square feet.
Source: ET Open / Comment

2024-06-13 13:30:01 Radiance Renewables signs JV with InfraCo Asia

The JV will primarily focus on solar projects and explore opportunities in wind-solar hybrids.
Radiance Renewables and InfraCo Asia, part of the Private Infrastructure Development Group (PIDG), announced a joint venture on Tuesday. The JV, named Radiance InfraCo Renewables, will develop a portfolio of greenfield renewable energy projects for commercial and industrial (C&I) clients in the country, enabling them to reduce carbon emissions in their supply chains and operations to meet their sustainability goals.
The JV will primarily focus on solar projects and explore opportunities in wind-solar hybrids. It will create a platform managed in compliance with international standards of ESG principles, the firms said.
Radiance Renewables, backed by Eversource Capital, has a portfolio of more than 1 GW of operating and under-development capacity under its operational expenditure (OPEX) model. The company has 79 C&I customers, including captive and third-party entities, and behind-the-meter (BTM)/rooftop customers across various industries.
Source : Financial Express Open / Comment

2024-06-13 13:26:44 Sensex, Nifty at record closing highs even after paring intraday gains; PSU banks, FMCG stocks drag

Benchmark indices Nifty and Sensex ended the session in green at record closing highs after paring partial intraday gains on June 13.
At close, the Sensex was up 204 points or 0.3percent at 76,810, and the Nifty was up 76 points at 23,398. About 2,046 shares advanced, 1,370 shares declined, and 83 shares unchanged.
Earlier in the day, the Nifty clocked a fresh high of 23,481 intraday. The Sensex gained 0.8 percent to intraday high of 77,145.
FMCG, energy and banking stocks weighed on the markets. The PSU Bank index along with Nifty Bank and Private Bank were also mildly in the red.

Source : MC Open / Comment

2024-06-06 12:42:55 Uno Minda hits record high, up 18% on deal with Chinese company for E-4W expansion

Shares of Uno Minda were off to a roaring start on the bourses after gaining 18 percent to hit a fresh all-time high of Rs 1,016 as the company inked a deal with China's lnovance Automotive to boost the electric four-wheeler product portfolio. The development assumes importance as the management suggests that this will 'significantly' expand its e-4W product portfolio, enabling them to effectively cater to the growing Indian EV market. "Uno Minda aims to further strengthen the partnership by transitioning it into a joint venture, subject to necessary approvals," it said in a regulatory filing.
The selected electric vehicle products include Charging Control Units (CCU), EV inverters, EV motors, and next-generation 3-in-1 electric drive systems (e-Axle). "The company is committed to leading the electric vehicle transformation across all vehicle categories. Similar to our success in e-2W,
Source: Money Control Open / Comment

2024-06-06 12:32:01 RVNL share price gains 7% on winning projects worth Rs 515 crore

Rail Vikas Nigam (RVNL) share price rose 7 percent in the early trade on June 6 after the company bagged a contract worth Rs 390 crore. Rail Vikas Nigam was quoting at Rs 378.25, up Rs 24.95, or 7.06 percent, on the BSE.
has received Letter of Acceptance from Eastern Railway for construction of Sitarampur bye pass line under Asansol division of Eastern Railway," company said in its release. The project cost is Rs 390,97 35,276.55 and to be completed in 24 months.
On June 3, the company received Letter of Acceptance worth Rs 440 crore from South Central Railway for engineering, procurement and construction (EPC) tender for proposed doubling of Track between Ankai station & Karanjgaon stations including electrification and signaling works in connection with Aurangabad-Ankai Doubling project in Nanded division of South Central Railway.
Source: Money Control Open / Comment

2024-06-06 12:29:15 KEC International bags over ₹1,000 Crore in new domestic orders

KEC International announced on Wednesday that it has secured new domestic orders worth over ₹1,000 Crore. The orders include residential projects in northern and southern India from well-known real estate developers, as well as construction of official residences and facilities for defense officials. The company’s civil business received orders totaling ₹1,002 Crore.
At the time of writing, shares of KEC International were trading at ₹720 which is a 3.31% gain than the previous close. The stock has gained 35% in the last one year, and 18% since the beginning of the year. significant growth and repeat orders in the civil business segment.
KEC International operates globally in infrastructure (EPC). The company has a presence in various sectors, including power transmission and distribution, railways, civil and urban infrastructure, solar, oil & gas pipelines, and cables.
Source: IIFL Open / Comment

2024-06-06 12:26:31 Tata Motors shares rise on strong JLR sales

Tata Motors Limited shares rose 3% to ₹928 on June 5, driven by strong sales from its British subsidiary Jaguar Land Rover (JLR). At the time of writing, share sof Tata Motors were trading at ₹928 which is a 2.67% hike than the previous close. JLR’s sales in May increased by 29% year-on-year, with 6,093 units sold compared to 4,732 units in the same month last year.
The stock has gained 66% in the last one year, and 17.38% since the beginning of the year. Tata Motors shares reached an intraday high of ₹934 before paring some gains. In Q4, JLR reported another record-breaking quarter, with revenue at 7.9 billion pounds, an 11% increase compared to Q4FY23 and a 6% rise from Q3FY24.
JLR’s FY24 revenue totaled 29 billion pounds, up 27% from the previous year. Tata Motors, India’s largest electric vehicle manufacturer, saw a 222% growth in consolidated net profit, reaching ₹17,407.18 Crore, compared to ₹5,407.79 Crore in the same period last year.
Source: IIFL Open / Comment