SKM INVESTMENT

2022-02-08 09:57:09 FMGOETZE @233 TGT260++ SL215 Open / Comment

2022-02-08 07:08:22 Madhyabharat agro@185 tgt220++ sl170 Open / Comment

2022-02-08 06:01:28 ·         Dr Reddy’s Lab gets DCGI approval for the single-shot Sputnik Light Vaccine In India - positive
·         RattanIndia backed Revolt Motors, India’s market leader in electric bikes announced the expansion of its retail presence in Uttar Pradesh. - positive
·         Reliance Industries - Amazon requests the NCLAT to stay CCI order which suspended approval to its transaction with Future Coupons.  NCLAT will hear Amazon's request for a stay on Feburary 14.  - We are long term positive on Reliance Industries
·         Ind-Ra revises outlook of Jammu and Kashmir Bank's Tier II bonds to Negative – Avoid
·         Thyrocare Tech appoints Rahuk Guha as CEO - Positive
·         Minda Industries approved the acquisition of stake in YA Auto Industries, Partnership Firm - positive.
·         Jindal Stainless approves raising up to Rs3500cr via bonds - positive
·         Bharat Forge to consider raising funds via bonds - positive
·         Tata Steel - Rating agency Moody’s Says that the Tata Steel’s acquisition of state-run Neelachal Ispat Nigam Ltd. is credit positive because it will build long-steel product capacity and increase its reserves of iron ore, according to Moody’s Investors Service. Tata Steel Wins Indebted State Mill With $1.6bn bid - positive
·         Union Bank announced inline with expected Q3 results and improve assets quality. Company reported Q3 net profit Rs1090cr (up 49% YoY) - expectation Rs1230cr, provision Rs2550cr (down 31% YoY) - expectation Rs3290cr, GNPA 11.6% vs 12.6% - expectation 11.8%, NPA 4.09 vs 4.61% - expectation 4.2%  and NII Rs7170cr (up 9% YoY) - expectation Rs6970cr
·         Indian Bank announced  announced inline with expected Q3 results and improve assets quality. Company reported Q3 net profit Rs690cr (down 34.1% YoY) - expectation Rs680cr, provision Rs2490cr (down 2.40% QoQ) - expectation Rs2410cr, GNPA 9.13% vs 9.56% - expectation 9.40% and NII Rs4395cr (up 1.9%) - expectation Rs4140cr
·         Clean Science reported a beat on our revenue estimates. Company reported Q3 Income Rs180cr  (up 44% YoY, 12% beat), EBITDA margin shrank to 42.1% (v/s 49.8% in 3QFY21 and 44.9% in 2QFY22), with EBITDA at Rs76.1cr ( in line with est., up 22% YoY) and PAT came in at Rs58cr (below 3% estimates, up 18% YoY)
·         TVS Motor announced better than expected Q3 Ebitda and Ebitda margin. Company reported  Net Profit Rs288cr (up 9% YoY) - estimate 257.5cr, Income 5710cr (up 69% YoY) -  estimate Rs5499cr, Ebitda Rs568cr (up 11% YoY) - estimate 524.3cr, EBITDA margin for the quarter is at 10% as against 9.5% YoY – expectation 9.5%
·         Phoenix Mills announced better than expected Q3 results. Company reported Q3 revenue was at Rs410cr (up 22% YoY), EBITDA Rs230cr (up 45% YoY), PAT at Rs98.9cr (up 45% YoY)
·         Crisil announced lower than expected Q3 results. Company reported Q3 Revenue was 6% lower than estimate at Rs1090cr (up 17% YoY), EBITDA stood at Rs270cr (up 3% YoY), BITDA margin was at 24.4% (v/s 24.5% in 2QFY22 and 27.5% in 4QCY20) and PAT stood at Rs190cr (-4% below estimates, +1% QoQ) –
·         Hindalco -Novelis Inc. Q3FY22 (YoY) - Net income up 48% at $262 million Net sales up 33% at $4.3 billion, Adjusted Ebitda up 1% at $506 million Adjusted Ebitda per ton shipped up 1% at $544 Shipments of 930 kilo tonnes, flat YoY
·         Castrol India announced Ebitda better than expected Q3 Ebitda margin. Company reported Revenue up 17% at Rs 1,090.60 crore – expectation Rs1163cr, Net profit at Rs 188.60 crore – expectation Rs196cr,  Ebitda up 3% at Rs 265.90 crore – expectation Rs271cr, Ebitda margin at 24.4% Vs 27.5% - expectation 23.3%, Recommended final dividend of Rs 3 per share
 
 
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2022-02-07 12:44:06 Nifty17350 pe108---290++ Open / Comment

2022-02-07 10:21:39 Bombay drying @126 tgt150++ sl110 Open / Comment

2022-02-07 09:05:26 Nitinspin@294 tgt320++ sl285 Open / Comment

2022-02-07 08:54:12 Bombay drying @126 tgt150++ sl110 Open / Comment

2022-02-07 06:37:00 ·         Godrej Agrovet announced inline with expected Q3 results. Company reported Consol. revenue grew 36% YoY to Rs2080cr (est. Rs1950cr). EBITDA margins contracted by 80bps YoY to 6.6% (estimates 6.9%). EBITDA Rs140cr(up 21% YoY) – estimates Rs130cr.  Adj. PAT increased by 26% YoY to Rs77.8cr = estiamtes Rs70.8cr.
·         Tata Steel reported inline with expected Q3 results – Company reported Q3 Net profit Rs9598cr (up 139% YoY, down 23.5% QoQ) – expectation Rs10907cr, Ebitda Rs15853cr (up 64.2% YoY, down 4.6% QoQ) – expectation Rs17993cr and Income Rs60783cr (up 45% YoY) – expectation Rs59715cr
·         Siemens announced poor Q3FY22 margin. Revenue up 12% at Rs 3,239.90 crore, Net profit down 15% at Rs 245.30 crore, Ebitda down 8% at Rs 331.90 crore, Ebitda Margin at 10.2% Vs 12.4%.
·         City Union Bank Q3FY22 - NII at Rs 489.97 crore Vs Rs 489.05 crore (YoY),  Net profit up 15% at Rs 196.11 crore, GNPA at 5.21% Vs 5.58% (QoQ), NNPA at 3.44% Vs 3.48% (QoQ), Provisions down 17% at Rs 123.5 crore Vs Rs 148 crore (QoQ)
 
 
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2022-02-07 06:37:00 ·         Shree Pushkar Chemicals commissions solar power project in Maharashtra - positive
·         INOX Leisure commissions new Multiplex Cinema Theatre at Katpadi, Thiruvalam – positive
·         Tata Communication has been awarded ‘Leader’ position by Avasant, a leading management consulting firm, in its report titled ‘SD-WAN Managed Services 2021-2022 RadarView’.- positive
·         Bank of India reported improved Q3 asset quality but lower provision lifted PAT. Company reported Q3  net profit 1027cr (up 90% YoY), GNPA at 10.46% vs 12% (QoQ), NPA 2.66% vs 2.79% (QoQ), Provision Rs333 vs 894cr and NII Rs3408cr (down 9% YoY)
·         First Source announced poor results. Company reported Q3 net profit Rs 135.5cr (up 0.4% QoQ), Ebitda Rs185cr (down 1.4% QoQ) , E bitda margin at 12.6% vs 13.1% (QoQ) and income Rs1464cr (up 2.4% QoQ)
·         Alkem Labs reported lower than expected Ebitda and Ebitda margin. Company reported Q3 net profit Rs526cr (up 15% YoY) , Ebitda Rs498 cr (down 16% YoY)– expectation Rs538cr, Ebitda margin 19% vs 23%  (YoY)– expectation 21.3% (YoY) and income Rs2620cr (up 13% YoY) – expectation Rs2525cr
·         AB Fashion announced strong Q3 results. Company reported Q3 net profit Rs191cr (up 187% YoY) – expectation Rs100cr , Ebitda Rs609cr (up 44 16% YoY)– expectation Rs461cr, Ebitda margin 20.4% vs 20.3%  (YoY)– expectation 17% (YoY) and income Rs2870cr (up 39% YoY) – expectation Rs2752cr
·         Devyani International Q3 net profit Rs63.1cr (up 44.1% YoY), Ebitda Rs147.8cr (up 62% YoY), Ebitda margin 23.7% vs 24.1% (YoY) and income Rs624.4cr (up 64.7% YoY)
·         Jubliant Pharmova announced poor Q3 results. Company reported Q3 net profit Rs50.99cr (down 77% YoY) – expectation Rs149.8cr, Ebitda Rs200cr (down 43% YoY) – expectation Rs348cr and income Rs1298cr (down 27% YoY) – expectation Rs1681cr
·         SBI reported better than expected Q3 results and improved asset quality. Company reported Q3 Net profit Rs8430cr (up 62% YoY) – expectation Rs8080cr, provision Rs6970cr (down 33% YoY) – expectation Rs7010cr, GNPA at 4.5% vs 4.9% (QoQ) – expectation 4.7%, NPA at 1.3% vs 1.5% (QoQ)  - expectation 1.5% and NII Rs30690cr (up 6% YoY) – expectation 29700cr. Loan book grew by 9% YoY and 6% QoQ
·         Bank of Baroda reported better than expected Q3 result and improved asset quality. Company reported Q3 Net profit Rs2200cr (up 107% YoY) – expectation Rs1670cr, provision Rs2510cr (down 27% YoY) – expectation Rs3080cr, GNPA at 7.3% vs 8.1% (QoQ) – expectation 7.8%, NPA at 2.3% vs 2.8% (QoQ)  - expectation 2.8% and NII Rs8550cr (up 14% YoY) – expectation 7860cr.
·         JK Cement announced inline with expected Q3 results. Company reported Q3 Net profit Rs167.3cr (down 29.8% YoY) – expectation Rs196.7cr, Ebitda Rs370.8 cr – expectation Rs365cr, Ebitda margin at 19.5% vs 25.5% (YoY)- expectation 19.5% and income Rs1940cr (up 10.2% YoY) – expectation Rs1877.2cr
·         Nocil announced inline with expected Q3 results. Company Revenue came in line with our estimates at Rs390cr ( up 42% YoY and up 4% QoQ), EBITDA was higher than estimates Rs50cr up 34% YoY) – expectation Rs43.2cr, EBITDA margin was at 12.8% vs 13.6% - expectation 11.6% and PAT at Rs30cr (-2% QoQ) – expectation Rs26cr.
·         Shree Cement’s 3Q result came in-line with our estimates with EBITDA at Rs830cr v/s estimated Rs840cr and EBITDA/t at Rs1,260 v/s estimated Rs1,278. Profit at Rs490cr v/s estimated Rs500cr. Realization was 6% above estimates (up 7% QoQ), which could be due to higher power revenues
·         Birla Corp’s 3Q operating performance was largely in-line with our estimates with EBITDA at Rs220cr v/s estimated Rs230cr and EBITDA/t at Rs664 v/s estimated Rs698. Adjusted profit at Rs53.5cr – expectation Rs65.4cr. Realization was up 3% YoY/1% QoQ. Sales volume was down 6% YoY (3.35mt) leading to revenue decline of 1% YoY. Revenue from Jute segment was up 16% YoY . Open / Comment

2022-02-07 06:37:00 ·         Brightcom Group has signed a Letter of Intent (LOI) to acquire a US-based digital audio company via an asset purchase transaction to tap the rapidly growing audio advertising market. – positive
·         Gulf Oil Lubricants Board to consider Buy-Back of Equity Shares on 9th February – positive
·         Cipla: The company has entered into Share Subscription and Shareholder’s Agreement and Power Purchase agreement to acquire up to 32.49% stake on a fully diluted basis in AMP Energy Green Eleven, for setting up a captive solar power projects – positive
·         Zee Entertainment Enterprises: IndusInd Bank has filed insolvency petition against the company claiming a default of Rs 83.08 crore.- negative
·         Minda: The company appointed Vinod Raheja as Group Chief Financial Officer and Group Chief Risk Officer consequent to Naresh Kumar Modi’s resignation from the post of CFO. – positive
·         Nykaa Fashion Launches “IYKYK” - FSN E-commerce Limited (Nykaa) announced the launch of a chic new accessory label - the latest in Nykaa Fashion's stable of widely loved consumer brands such as Pipa Bella, Nykd by Nykaa, Gajra Gang, and RSVP.- positive
·         Reliance Industries - Jio Platforms Ltd announced an investment of $15 million in Two Platforms Inc (TWO), a Silicon Valley-based deep tech startup founded by Pranav Mistry, for a 25 percent equity stake on a fully diluted basis. - positive
·         Oberoi Realty denied reports regards proposed formation of joint venture by the company with external investors for joint development of overseas properties and equity investment in the company – We are long term positive.
·         Adani Green Energy raises Rs612.3cr from bonds issue on private placements – positive
·         RattanIndia Enterprises appoints Chandramouli Venkataraman as CEO of Cocoblu Retail - positive
·         InterGlobe Aviation Ltd.’s Board approved the appointment of the airlines’ co-founder Rahul Bhatia as the managing director - positive
·         Adani Ports crossed a milestone of handling a record 250 MMT in ten months of operations and handled a cargo volume of 259 MMT. In January, 2022, APSEZ portfolio of ports handled a total cargo volume of 24.74 MMT. The cargo composition for the month remained stable at Dry Cargo at 47%, Container at 40%, Liquid (including crude) at 12.5% and Gas cargo at 0.5%.- positive
·         Yes Bank - Private equity group Advent International is evaluating a Rs7,500 crore ($1 billion) investment in Yes Bank to further capitalise its balance sheet as the private lender, now under the stewardship of State Bank of India (SBI), tries to stabilise operations. Yes Bank faced a run on deposits in early 2020 after which an SBI-led consortium took over in March of that year.- long term positive
·         Route Mobile signed definitive agreements to acquire M.R Messaging FZC, one of the leading Cloud communications service provider catering to enterprises and aggregators in Europe & South Africa. The acquisition is aligned to Route Mobile's global growth strategy and strengthens its global presence as a CPaaS leader.- positive
·         Bajaj Finserv has announced the gross direct premium performance of general insurance arm  Bajaj Allianz for January 2022. In January 2022, Bajaj Allianz recorded a gross direct premium of Rs1,446.47cr. While the premium was at Rs11,866.15cr so far in FY22.
·         AB Fashion -  The board of ABFRL provided an omnibus approval to set up a new subsidiary towards building a portfolio of digital brands across categories in fashion, beauty and other allied lifestyle segments.  This venture will initially be funded through ABFRL’s internal accruals. At an appropriate time, the company will look to bring in external capital. The entity will organically incubate and also acquire “promising and scalable” D2C brands. The company will now accelerate the process of building the D2C framework and identifying Open / Comment