Elite Wealth Limited

https://youtu.be/JeB2dqKTnjM?si=n214FQor1YIkcGJI

BTST ON BHARAT FORG CMP 1315-1317 FOR THE TARGET 1380+ & SL TAKE 1290 (For disclaimer and more visit www.elitewealth.in)

ramco cem up 3.6% 948.90 high make 950.50 so book accordingly

*ramco cem up 1.6% 929.65* call given @ 916-917

CITY UNION BANK CMP 172 BUY CALL FOR THE TARGET 182+ 185+ & SL TAKE 166 TIME ZONE 3-4 DAYS (For disclaimer and more visit www.elitewealth.in)

Ramco cem buy call cmp 916-917 for the target 955+ & sl take 895 (For disclaimer and more visit www.elitewealth.in)

Bank nifty crossed its yesterday high, icici bank is showing a reversal sign

OUTLOOKThe market is likely to open on a positive note as indicated by gift nifty.
Nifty closed at 23,350 (-169) and Sensex at 77,156 (-423) on Thursday. GIFT Nifty was trading at 23,439 (as of 7.30 a.m.)
FIIs net sold equities in cash to the tune of Rs. 5,321 cr whereas DIIs bought equities in cash worth Rs.4,200 cr on November 21, 2024

*MS ON RIL*
*OW, TP Rs 1662*
Refining margins are starting to recover after two tough quarters.
Permanent refinery capacity shutdowns have also risen
Stock is pricing in challenges across key verticals post US$50bn market cap reduction in 4Q24, but not improvement

*JPM ON RIL*
*OW, TP Rs 1468*
One of 2 drivers of recent underperformance - weak refining margin - has reversed
Other- poor retail top-line growth is difficult to anticipate, but expectations have compressed
Post stock correction, est. implied valuations for retail business are c.25x FY26E EBITDA - below historical levels & peer retailers
Start of the solar panel plants could be a modest near term catalyst.

*JEFFERIES ON CHEMICALS*
*SRF withdrew growth guidance on poor demand visibility*
NFIL shd resume growth in 2HFY25 on start-up of agchem plant and new CDMO contracts.
*PI preferred pick*

*HSBC ON SOBHA*
*Buy, TP Rs 2150*
Q2 bookings disappoint on launches, margins disappoint on contractual business to catch up, launch pipeline robust
Believe post its recent rights issue and improved OCF performance, business is poised for strong growth

*JEFFERIES ON SBI*
*Buy, TP Rs 1030*
Roadshow takeaways
mgt stated plans to improve deposit growth and align incremental growth between loans & deposit.
Asset quality is holding-up and recoveries will also aid earnings in 2H.
Policy rate cuts may be gradual and bank’s higher share of MCLR loans will insulate NIMs.
Bank doesn’t plan to raise capital or monetise/ list stake in subsidiaries.

*TOP 10 STOCKS IN FOCUS*

*1-ADANI ENT. (ADANI STOCKS)*
Kenya drops airport deal with Adani Group after US indictments
*2-SBI and PSU Banks*
Adani issue
*3-PROTEAN eGov*
NSE Investment to sell up to 20.31% stake in the company via OFS on Nove 22 & 25 at the rate of Rs 1550/share
*4-AFCONS*
The Company has received LoA from Uttarakhand Project Development and Construction Corporation Ltd for Civil Works including HM Works for Construction of 130.6 m High Concrete Gravity Dam and Appurtenant Works across River Song of Song Dam Project in District Dehradun. The project cost is Rs 1274 Cr
*5-HYUNDAI MOTOR*
Hyundai unveils IONIQ 9 Electric SUV with advanced features.
*6-TATA POWER*
Tata Power signs MoU with ADB for $4.25 billion.
*7-SJVN*
SJVN signs MoU for 7 GW renewable energy projects in Rajasthan.
*8-MPHASIS*
Mphasis partners with MoneyGram Haas F1 Team for technology collaboration.
*9-LTI MINDTREE*
LIC raises stocks from 5.03% to 7.03%
*10-OMCs/ONGC*
Brend crude oil above $74

*India Daybook – Stocks in News*


*Tata Power:* Company partners with Asian Development Bank for $ 4.25 Billion Clean Energy Projects. (Positive)

*AVP Infracon Ltd:* Company secured a Rs 33.19 Cr sub-contract from CDR & Co Constructions for an NHAI project in Tamil Nadu. (Positive)

*Innovators Systems:* Receipt of LOI for Work Order for Facade Design, Fabrication and Installation, Order Size Rs 110 Crores (Positive)

*Jyoti Limited:* Receipt of Purchase Order Total orders amounting to Rs.12.8 cr from Megha Engineering & Infrastructures Limited, Hyderabad. (Positive)

*Crompton Greaves Consumer:* Company launched the Regera 6L water heater (Positive)

*Kotyark Industries:* Company has been allocated tender for supply of 48,381 kl biodiesel to omcs worth Rs 5.64 billion. (Positive)

*Royal Sense:* Company launched 6 new pharmaceutical products on Nov 21, 2024 (Positive)

*Popular Vehicles:* Company opened a new Bharat Benz 3S facility in Chhatrapati Sambhaji Nagar, Maharashtra. (Positive)

*Afcons Infrastructure:* Company has received Letter of acceptance from Uttarakhand Project Development and Construction Corporation Ltd for Civil Works worth of Rs 1274 crore (Positive)

*SJVN:* Company signs MoU with Rajasthan Govt’s Energy Department for development of renewable energy in the state. (Positive)

*Medicamen Organics:* Company secures 6.28 cr order for Povidone Iodine Solution. (Positive)

*Raymond:* The stock exchanges BSE and NSE have given the green light to the proposed demerger of Raymond Limited and Raymond Realty Limited. (Positive)

*Insurance stocks:* GST Council meeting in December likely to discuss rate cut on insurance premiums, ET sources. (Positive)

*Ashok Leyland:* Company sets up a light commercial vehicle dealership in West Bengal. (Positive)

*LTI Mindtree:* LIC increased its shareholding from 5.033% to 7.034% (Neutral)

*Bank of India:* Smt. Jamuna Ravi elected as Bank of India director. (Neutral)

*DP Abhushani:* Company opened a new showroom in Neemuch, MP, expanding its presence in Central India. (Neutral)

*Hyundai Motor:* Company will invest INR 38 Cr in two renewable energy plants, 75 MW solar, 43 MW wind in Tamil Nadu, aiming for RE100 certification by 2025. (Neutral)

*Jio, Airtel, Vodafone Idea:* Companies together lose over 10 million mobile subscribers in September (Neutral)

*HDFC Bank:* Plans to issue car loans worth Rs 12,372 crore to mutual funds before the first week of December. (Neutral)

*Indusind:* Government gives go-ahead to IndusInd International Holdings for the acquisition of Reliance Capital. (Neutral)

*Wipro:* Record date for the purpose of Bonus is 03-Dec-2024. (Neutral)

*Protean eGov Technologies:* NSE investments to sell up to 20.31% stake in Protean eGov Technologies via OFS, it includes base issue of 10.16% equity & has a green shoe option of 10.16% equity. (Negative)

*Adani Energy:* Kenya cancels the $700 mn deal signed with a unit of the Adani Group to construct power transmission lines. (Negative)

Market View 22.11.2024.pdf

jaicorp cmp 290-291 buy call for the target 320+ 330+ & sl take 278 (For disclaimer and more visit www.elitewealth.in)

Federal bank cmp 206-207 buy range for the target 217+ & sl take 201 short term (For disclaimer and more visit www.elitewealth.in)

Billionaire Gautam Adani charged in New York with massive fraud

Adani and two other defendants, his nephew Sagar Adani and Vneet Jaain, who are executives of Adani Green Energy Limited, are accused of conspiring to commit wire fraud and securities fraud for their roles in obtaining funds from investors in the United States and international lenders “on the basis of false and misleading statements,” the U.S. Attorney’s Office in Brooklyn said.

Adani shares witnessed a massive selling pressure today

cummins cmp 3298 sell call for the day for the target 3200+ & sl take 3350 (For disclaimer and more visit www.elitewealth.in)