NIRMAL BANG OFFICIAL @nirmalbangofficial Channel on Telegram

NIRMAL BANG OFFICIAL

20 Jan, 04:46

1-2 DAYS CALL CROMPTON 370CE SL TRIGGER @4(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

NIRMAL BANG OFFICIAL

20 Jan, 04:44

1-2 DAYS Technical call Buy RKFORGE above 1000.40 with SL 970 Target 1060(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

297

NIRMAL BANG OFFICIAL

20 Jan, 04:16

1-2 DAYS Technical Call Buy RGL close at 187.50 Visit our website for disclosure (Nirmal Bang).

586

NIRMAL BANG OFFICIAL

20 Jan, 04:12

1-2 DAYS Call Technical call SELL DIVISLAB FUT 30 JAN Below 5890.40 with SL 5960 Target 5770(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

659

NIRMAL BANG OFFICIAL

20 Jan, 04:06

1-2 Days Derivatives Call Sell M&M 30JAN Future below 2910 with SL 2955 Target 2810 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

740

NIRMAL BANG OFFICIAL

20 Jan, 03:52

1-2 Days Technical Call Book Partial Profits in REDINGTON at 222-224, Target 230, Call initiated at 212(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

871

NIRMAL BANG OFFICIAL

20 Jan, 03:33

Brokerage Update-

JEFFERIES ON LODHA MAINTAIN BUY, TP 1,615

CITI ON TECH MAHINDRA SELL, TP CUT TO RS 1440

NOMURA ON TECH MAHINDRA MAINTAIN BUY, TP RS 1,900

NOMURA ON SBI LIFE MAINTAIN BUY, TP 1,800 VS 1,835

CITI ON SBI LIFE MAINTAIN BUY, TP 2,100 VS 2,040

HSBC ON SBI LIFE MAINTAIN BUY, TP 1,800 VS 1,720

MS ON TECH MAHINDRA MAINTAIN EQUAL WEIGHT, TP 1,750 VS 1,725

CITI ON TECH MAHINDRA MAINTAIN SELL, TP 1,440 VS 1,475

NOMURA ON HAVELLS UPGRADE TO BUY FROM NEUTRAL, TP RS 1,943

JEFFERIES ON ADANI GREEN BUY, TP CUT TO RS 1,300 FROM RS 2,000

MS ON WIPRO UNDERWEIGHT, TP 250

NOMURA ON WIPRO BUY, TP 340

MACQUARIE ON WIPRO OUTPERFORM, TP 330

CITI ON WIPRO SELL, TP 280

DAM CAP ON KOTAK MAHINDRA BANK MAINTAIN BUY, TP RS 2,020

MOTILAL OSWAL ON KOTAK MAHINDRA BANK MAINTAIN BUY, TP RS 2,100

ICICI SECURITIES ON KOTAK MAHINDRA BANK MAINTAIN BUY, TP RS 2,050

NUVAMA ON KOTAK MAHINDRA BANK MAINTAIN BUY, TP RS 2,040

JEFFERIES ON ADANI PORTS BUY, TP CUT TO RS 1,440 FROM RS 1,855

JEFFERIES ON ADANI ENT MAINTAIN BUY, TARGET AT RS 3,800

JEFFERIES ON MACROTECH BUY, TP RS 1,615

MORGAN STANLEY ON KOTAK BK OW, TP RS 2,290

NOMURA ON KOTAK BK BUY, TP CUT TO RS 2,110

EMKAY ON RBL BANK MAINTAIN BUY, TP RS 225

BERNSTEIN ON SBI LIFE MAINTAIN OUTPERFORM, TARGET AT RS 2,270

JEFFERIES UPGRADES WIPRO TO HOLD, TP RS 300 FROM 260

BERNSTEIN ON KOTAK BANK MAINTAIN MARKET-PERFORM, TP 1,950

EMKAY ON KOTAK BANK MAINTAIN REDUCE, TP 1,750

952

NIRMAL BANG OFFICIAL

20 Jan, 03:27

Camlin Fine Sciences: The Gujarat Pollution Control Board has issued an order to Camlin Fine Sciences for the closure of its operations at the Bharuch unit. The action to close operations came due to allegations of contaminated water or wastewater found in the stormwater drain, minimal biomass observed in the aeration tank, and ETP sludge found stored in an open area near the ETP. Negative

863

NIRMAL BANG OFFICIAL

20 Jan, 03:26

Dow +335
Nasdaq +292
Dax +248
Nikkei +500
Hangseng +239
Gift Nifty +18 (23280)
Dowfut -53
Nasdaqfut -52
Crude Oil 80.86
Dollar Index 109.15

Stocks To Watch
Tata Steel: The company files curative petition in Supreme Court challenging Odisha's tax on mineral land.
Unitech: The company has announced the divestment of Unitech Power Transmission for Rs 508.9 million.
SRF: The company has received a GST demand order of approximately Rs 170 crore, including a penalty, from the Vadodara tax authority.
Rallis India: The company will establish a solar power plant for renewable energy with an estimated capital expenditure of approximately Rs 20-27 crore.
Minda Corp.: The company has completed the acquisition of a 49% stake in Flash Electronics Pvt. Ltd.
Info Edge India: The company will invest Rs 90 crore in Startup Investments (Holding) Ltd., its wholly owned subsidiary.
Bank of India: The bank will consider the proposal for raising funds through the issuance of long-term (Infra) bonds at its meeting scheduled for Jan. 23, 2025.
DLF: The NCLT Chandigarh bench has approved the merger involving the amalgamation of seven wholly owned subsidiary companies.
Adani Energy Solutions: Adani Electricity has entered into an agreement with Adani Properties to acquire Superheights Infraspace for Rs 475 crore. Superheights Infraspace holds development rights for 3,000 sq. m of land in BKC.
Dalmia Bharat: Dalmia Cement (Bharat) Ltd., a wholly owned subsidiary of the company, has entered into a share subscription and shareholders agreement to acquire 26% of the equity share capital of Solis Urja Energy Pvt. Ltd., totaling Rs. 1,75,00,000.
ITD Cementation India: The company has received an arbitral award of Rs 12 crore from the Arbitral Tribunal concerning various claims related to contractual disputes. Notably, the company had filed claims before the Tribunal against the Airports Authority of India.
Ashapura Minechem: The company’s international subsidiary has signed a long-term Memorandum of Understanding with China Railway to collaboratively develop the Fako bauxite deposit in Guinea.
IndusInd Bank: The VAT Tribunal in Chennai has imposed a penalty of Rs 7.08 crore on the bank for various GST-related issues.
Route Mobile: The company has received an order from the Deputy Commissioner of CGST covering the period from July 2017 to March 2018, as well as fiscal 2018-19, with a total demand of Rs 11.08 crore.
GMR Airports: The company reported a 9% year-on-year increase in total passenger traffic, reaching 1.1 crore. Additionally, total aircraft movements saw a 7% year-on-year growth, totaling 64,364

Trading Tweaks
Ex/Record Date For Stock Split: Blue Cloud Softech Solutions, Nava
Move Out of ASM Framework: Spandana Sphoorty Financial, Zen Technologies

Who's Meeting Whom?
Five-Star Business Finance: To meet analysts and investors between Jan. 20 and Jan. 22.
Nestlé India: To meet analysts and investors on Feb. 4.

Securities in ban period:
AARTI Industries,
Aditya Birla Fashion and retail,
Angle One,
Bandhan Bank,
Can Fin Homes Ltd,
Hindustan Copper,
L&T Finance,
RBL Bank,
Kalyan Jewellers,
Manappuram Finance

Money Market
The rupee closed weaker against the US currency for the second day in a row as the dollar index rebounded, tracking sustained decline in the pound sterling and euro in the second half of the trade. Demand for the greenback weighed on the Indian unit. The rupee weakened by six paise to close at 86.61 against the US dollar. The domestic currency opened flat at 84.56 against the greenback, according to Bloomberg data.

Listing of Equity Shares of Laxmi Dental Limited (IPO)with effect from January 20, 2025
Symbol LAXMIDENTL [544339]
Name of the Company Laxmi Dental Limited
Series EQ
ISIN INE0WO601020
Face Value Rs. 2/-
Paid-up Value Rs. 2/-
Issue Price for the current public issue
Rs. 428/- per share
Security Description
Equity shares of Rs. 2/- each fully paid up
No. of securities 54962149
Distinctive number range As per Annexure I
Market lot 1

401

NIRMAL BANG OFFICIAL

20 Jan, 03:26

*News Headlines from Business News Agencies :*
*Business Standard :*
📝 India's current economic environment conducive for private investments: CII
📝 Rupee REER declines in December after November peak, shows RBI data
📝 South Korean auto major Hyundai partners TVS to roll out e3Ws, micro 4Ws
📝 Private sector banks' credit costs up in Q3FY25 on higher provisions
📝 Indian organisations are mature about cybersecurity: Sophos CTO Aaron Bugal
📝 VinFast to make India its export hub with $2 billion Thoothukudi facility
📝 Finance Ministry dept to meet business correspondents, banks next week
📝 AM/NS India advances value-added steel expansion with new Hazira facility
📝 India targets $250 bn of engineering exports by 2030, says Commerce Secy
📝 Domestic composite materials industry to touch $2.8 bn mark by 2030: Report
📝 CapitaLand announces Rs 450 cr investment in new IT park in Hyderabad
*Economic Times :*
📝 NCLT directs liquidation of Tulip Hotels as it fails to get bidder within prescribed timeline
📝 Long-term perspective on tax structure to aid product development: Skoda official
📝 Govt likely to provide incentives for local manufacturing of high-end electric vehicles
📝 India targets USD 250 bn of engineering exports by 2030 says commerce secretary
📝 Keen to have manufacturing in India, visa issue not affecting operations: BYD
📝 India not seeking duty concessions on liquor, cigarette in FTA with Oman: Sources
📝 CapitaLand announces Rs 450 cr investment in new IT park in Hyderabad
📝 Sarala Aviation unveils prototype for India's first air taxi; Aims to launch in 2028
📝 Delhi-NCR sees highest 30 pc increase in housing prices during 2024 among top 7 cities: Anarock
📝 Burmans' Religare open offer to acquire additional 26% stake to start on Jan 27
📝 Purabi Dairy sells over 2 lakh litres of milk and milk products during Magh Bihu festival in Assam
*Mint :*
📝 Private investment and job creation likely to rise in FY26, says industry body
📝 Govt mulling proposal to waive AGR dues for telecom companies: Report
📝 India, EU lay roadmap to strengthen trade and investment
📝 Bharat Mobility Global Expo 2025: Honda Activa e: scooter launched in India
📝 Non-bank lenders form priority sector lenders’ body to plug MSME loan shortfall
📝 India plans to export 1 million tonnes of sugar to handle domestic stock surplus
📝 AESL order book swells to ₹54,700 crore
📝 IndusInd Bank CFO Gobind Jain resigns, Arun Khurana to take over on January 21
📝 Punjab & Sind Bank to raise ₹2,000 cr via QIP this quarter: MD & CEO Swarup Kumar Saha
📝 Budget FY26: Govt could cut customs duty on raw materials to boost manufacturing
📝 UK Market Turbulence Pushes Mortgage Costs to Five-Month High

BULK DEAL 17-JAN-2025

SPANDANA
-3.96 LK @ 357.20 PADMAJA GANGIREDDY

Vertexplus Technologies
+1.96 LK @ 99.18 CRAFT EMERGING MARKET FUND PCC- ELITE CAPITAL FUND
-1.77 LK @ 99.20 GOENKA BUSINESS & FINANCE LIMITED

TRANSCHEM
-3.5 LK @ 44.25 ANKIT RAJIDERKUMAR MIGLANI
+3.49 LK @ 44.25 SMIT CAPITAL SERVICES PRIVATE LIMITED

496

NIRMAL BANG OFFICIAL

14 Jan, 16:18

Book -78 &-73 (SPREAD BUY CRUDE FEB AND SELL JAN AT DIFF OF -108to -118 SL ABV 133 TGT -65 and -50)

261

NIRMAL BANG OFFICIAL

14 Jan, 14:08

SELL GOLD 78000-78050 SL ABOVE 78297 TG 77675

690

NIRMAL BANG OFFICIAL

14 Jan, 13:42

BOOK PROFIT 850-890 (OPTION BUY GOLDM 78K PE 750-700 SL BELOW 599 TG 950-1020)

791

NIRMAL BANG OFFICIAL

14 Jan, 09:56

1-2 DAYS Technical Call book partial profit in BAJAJFINSV @1720-1722 Target 1770 BUY call initiated 1698 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,247

NIRMAL BANG OFFICIAL

14 Jan, 09:35

*HDFC Asset Management Company Ltd.* | *CMP* Rs. 3889 | *M Cap* Rs. 83130 Cr | *52 W H/L* 4864/3255
(Nirmal Bang Retail Research)
*Result marginally Ahead of Expectation*
Revenue from Operations came at Rs. 934.6 Cr (5.3% QoQ, 39.2% YoY) vs expectation of Rs. 949.4 Cr, QoQ Rs. 887.2 Cr, YoY Rs. 671.3 Cr
EBIDTA came at Rs. 763.9 Cr (8.6% QoQ, 50% YoY) vs expectation of Rs. 731.8 Cr, QoQ Rs. 703.4 Cr, YoY Rs. 509.2 Cr
EBITDA Margin came at 81.7% vs expectation of 77.1%, QoQ 79.3%, YoY 75.9%
Adj. PAT came at Rs. 641.4 Cr vs expectation of Rs. 628.7 Cr, QoQ Rs. 576.6 Cr, YoY Rs. 487.9 Cr
Quarter EPS is Rs. 30
Stock is trading at P/E of 29x FY26E EPS

1,384

NIRMAL BANG OFFICIAL

14 Jan, 06:36

INDIA (DEC) WHOLESALE PRICES YOY ACTUAL: 2.37% VS 1.89% PREVIOUS;EST 2.20%

1,581

NIRMAL BANG OFFICIAL

14 Jan, 05:39

Intraday Derivatives Call Target Achieved in NIFTY 16JAN 23200 CE at 150, Call initiated at 90 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,614

NIRMAL BANG OFFICIAL

14 Jan, 05:38

Intraday Derivatives Call Target Achieved in SENSEX 14JAN 76600 CE at 160, Call initiated at 60 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,663

NIRMAL BANG OFFICIAL

14 Jan, 05:18

Intraday Derivatives Call Book Partial Profits in SENSEX 14JAN 76600 CE at 110-115, Target 160, Call initiated at 60 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,729

NIRMAL BANG OFFICIAL

14 Jan, 05:12

Intraday Derivatives Call Book Partial Profits in NIFTY 16JAN 23200 CE at 109.5-115, Target 150, Call initiated at 90 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,613

NIRMAL BANG OFFICIAL

14 Jan, 04:57

Intraday Derivatives Call Buy SENSEX 14JAN 76600 CE above 60 with SL 10 Target 160 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,697

NIRMAL BANG OFFICIAL

14 Jan, 04:55

Intraday Derivatives Call Buy NIFTY 16JAN 23200 CE above 90 with SL 60 Target 150 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,662

NIRMAL BANG OFFICIAL

14 Jan, 04:20

1-2 Days GODREJCP SL Triggered @ 1155. Visit our website for disclosure (Nirmal Bang).

1,633

NIRMAL BANG OFFICIAL

14 Jan, 03:51

1-2 Days Derivatives Call Target Achieved in CANBK 30JAN Future at 90, Call initiated at 98 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,727

NIRMAL BANG OFFICIAL

14 Jan, 03:28

Brokerage Update-

MS on MGL Initiate OW, TP Rs 1606

Nomura maintains a buy call on HCLTech with ₹2,000/sh target

Jefferies maintains a hold call on HCLTech with ₹2,060/sh target

HSBC upgrades Biocon to Buy with target raised to ₹430/sh

MS maintains an equal-weight call on HCLTech with ₹1,970/sh target

CLSA maintains a hold call on HCLTech with ₹1,882/sh target

Jefferies on BSE Upgrade to hold, TP Rs 5250

CITI on Just Dial Upgrade to Buy, TP Rs 1270

Motilal Oswal on HCL Tech: Maintain Buy with target price of Rs 2400

Nuvama on HCL Tech: Downgrades to Hold with a target price of ₹2150

Nuvama initiates coverage on Apar Industries with 'buy' rating TP 12,700

Citi maintains 'neutral' rating on HCLTech TP 1,920

Bernstein maintains 'market perform' rating on HCLTech TP 2,000

Morgan Stanley initiates coverage on MahanagarGas with 'Overweight' rating TP 1,606

Nuvama upgrades Jindal Stainless to 'buy' from 'hold' TP 836

1,755

NIRMAL BANG OFFICIAL

10 Jan, 13:39

SELL GOLD BET 78250-300 SL ABV 78600 TGT 77800

1,157

NIRMAL BANG OFFICIAL

10 Jan, 13:39

SELL SILVER AROUND 91600-91680 SL ABOVE 92350 TG 91000-90800

1,193

NIRMAL BANG OFFICIAL

10 Jan, 08:58

*CESC Ltd.* | *CMP* Rs. 166 | *M Cap* Rs. 22004 Cr | *52 W H/L* 213/110
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 3561 Cr (-24.2% QoQ, 9.8% YoY) vs QoQ Rs. 4700 Cr, YoY Rs. 3244 Cr
EBIDTA came at Rs. 910 Cr (-10.3% QoQ, 0.4% YoY) vs QoQ Rs. 1015 Cr, YoY Rs. 906 Cr
EBITDA Margin came at 25.6% vs QoQ 21.6%, YoY 27.9%
Adj. PAT came at Rs. 265 Cr vs QoQ Rs. 353 Cr, YoY Rs. 281 Cr
Quarter EPS is Rs. 2
Stock is trading at P/E of 12.9x FY26E EPS

1,543

NIRMAL BANG OFFICIAL

10 Jan, 08:57

1-2 Days Derivatives Call Book Partial Profits in NIFTY 16JAN 23500 PE at 214-220, Target 260, Call initiated at 179 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,554

NIRMAL BANG OFFICIAL

10 Jan, 05:38

Intraday Derivatives Call Book Partial Profits in BANKNIFTY 29JAN 49500 CE at 789-800, Target 1000, Call initiated at 690 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,828

NIRMAL BANG OFFICIAL

10 Jan, 04:37

1-2 DAYS TECHNICAL BUY CALL JUSTDIAL SL TRIGGER@540. Visit our website for disclosure. (Nirmal Bang).

1,931

NIRMAL BANG OFFICIAL

10 Jan, 04:35

1-2 Days Derivatives Call Book Partial Profits in CANBK 30JAN Future at 93.8-92.5, Target 90, Call initiated at 98 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,979

NIRMAL BANG OFFICIAL

10 Jan, 04:22

Intraday Derivatives Call Buy BANKNIFTY 29JAN 49500 CE above 690 with SL 540 Target 1000 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,938

NIRMAL BANG OFFICIAL

10 Jan, 04:21

1-2 days call PARKHOTELS SL TRIGGER @195 Visit our website for disclosure. (Nirmal Bang).

1,956

NIRMAL BANG OFFICIAL

10 Jan, 04:12

1-2 DAYS TECHNICAL BUY CALL UPL SL TRIGGER@540 Visit our website for disclosure. (Nirmal Bang).

1,976

NIRMAL BANG OFFICIAL

10 Jan, 03:39

CEINSYS TECH: CO WINS ORDER WORTH 381 CR RUPEES

1,925

NIRMAL BANG OFFICIAL

10 Jan, 03:34

Brokerage Update-

CLSA UPGRADES TCS TO 'OUTPERFORM' FROM 'HOLD', TP RS 4,546

JEFFERIES ON PIRAMAL PHARMA-MAINTAIN BUY-TP 310 FROM 260

JEFFERIES ON SYNGENE INTERNATIONAL-UPGRADE TO HOLD FROM UNDERWEIGHT, TP 890 (FROM 740)

JEFFERIES ON GLAND PHARMA-DOWNGRADE TO UNDERWEIGHT TO HOLD, TP 1,630 (FROM 1,840)

JEFFERIES ON LAURUS LABS-MAINTAIN UNDERWEIGHT, TP AT 450 FROM 300

CLSA ON EICHER MOTORS MAINTAIN HOLD, TP AT 4,883 VS FROM 4,909

JP MORGAN ON JSW STEEL MAINTAIN OVERWEIGHT, TP AT 1,010 FROM 1,065

JP MORGAN ON COAL INDIA-MAINTAIN NEUTRAL, TP AT 435 FROM 470

JP MORGAN ON TATA STEEL-MAINTAIN OVERWEIGHT, TP AT 155 FROM 170

JP MORGAN ON HINDALCO-MAINTAIN OVERWEIGHT, TP AT 435 FROM 470

GOLDMAN SACHS ON INDUSIND BANK DOWNGRADE TO NEUTRAL FROM BUY, TP 1,090 VS 1,318

MACQUARIE ON IRCTC INITIATE OUTPERFORM, TP 900

NOMURA ON TCS NEUTRAL, TP RS 4020

NUVAMA ON TCS BUY, TP RS 5,200

JEFFERIES MAINTAINS 'BUY' ON TCS, TP RS 4,760

MORGAN STANLEY MAINTAINS 'UNDERPERFORM' ON TATA ELXSI, TP RS 6,000

JPM ON TATA ELXSI UW, TP CUT TO RS 5,400 FROM RS 5,700

DAM CAP ON LLOYDS METALS INITIATE BUY, TP RS 1,905

HSBC ON TCS HOLD, TP RS 4,540

NOMURA MAINTAINS BUY ON MARICO, TP RS 760

NOMURA MAINTAINS BUY ON HUL, TP RS 3,100

NOMURA MAINTAINS BUY ON ITC, TP RS 575

CLSA ON BAJAJ FINANCE OUTPERFORM, TP RS 9,200

MORGAN STANLEY ON TCS OVERWEIGHT, TP RS 4,660

1,871

NIRMAL BANG OFFICIAL

10 Jan, 03:33

BUY ZINC AT 272-271.70 SL BELOW 269 TARGET 276-277

1,323

NIRMAL BANG OFFICIAL

03 Jan, 17:48

BOOK PROFIT 159-163 (OPTION BUY CRUDEOIL 6300 CE AT 135-125 SL BELOW 109 TG 180)

1,150

NIRMAL BANG OFFICIAL

03 Jan, 16:20

Option BUY GOLDPE77K bt 730-680 SL BELOW 400 TGT 1050-1160

1,290

NIRMAL BANG OFFICIAL

03 Jan, 15:37

OPTION BUY CRUDEOIL 6300 CE AT 135-125 SL BELOW 109 TG 180

1,405

NIRMAL BANG OFFICIAL

03 Jan, 15:31

Option BUY SILVERPE89K bt 2500-2450 SL BELOW 2200 TGT 2880-3000

1,483

NIRMAL BANG OFFICIAL

03 Jan, 14:36

BOOK PROFIT 6315-6325 ( BUY CRUDEOIL 6275-6265 SL 6219 TG 6350-6360 )

1,411

NIRMAL BANG OFFICIAL

03 Jan, 13:42

SELL SILVER 89700-89750 SL ABOVE 90250 TG 88700

1,582

NIRMAL BANG OFFICIAL

03 Jan, 13:30

Book full 1200-1120 - ( option BUY GOLDM 78K PE 1110- 1070 SL BELOW 890 TG 1400-1500 )

1,584

NIRMAL BANG OFFICIAL

03 Jan, 12:40

BUY CRUDEOIL 6275-6265 SL 6219 TG 6350-6360

1,671

NIRMAL BANG OFFICIAL

03 Jan, 09:23

1-2 DAYS CALL INOXWIND MODIFY SL TO 182.4(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,809

NIRMAL BANG OFFICIAL

03 Jan, 08:17

INDIA'S DECEMBER EDIBLE OIL IMPORTS DROP 25% (MOM) TO 1.19 MLN METRIC TONS, LOWEST IN THREE MONTHS

2,007

NIRMAL BANG OFFICIAL

03 Jan, 06:32

1-2 DAYS Technical Call Buy LEMONTREE above 161 with Stop Loss 157 Target 170(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

2,142

NIRMAL BANG OFFICIAL

03 Jan, 06:14

1-2 DAYS Technical Buy Call ITI Target Achieved @415 , Buy Call initiated at 395(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

2,174

NIRMAL BANG OFFICIAL

03 Jan, 06:11

1-2 DAYS Technical Call book partial profit in RELIANCE @ 1255-1258 Target 1300 ,BUY call initiated 1232.7 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

2,101

NIRMAL BANG OFFICIAL

03 Jan, 06:07

1-2 Days Technical Call Book Partial Profits in ITI at 409-411, Target 415, Call initiated at 395(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

2,074

NIRMAL BANG OFFICIAL

03 Jan, 06:07

1-2 DAYS Technical Call book partial profit in BATAINDIA @ 1456-1460 Target 1490 , BUY call initiated 1432.20(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,978

NIRMAL BANG OFFICIAL

03 Jan, 06:01

1-2 DAYS Technical Call Buy ITI above 395 with Stop Loss 385 Target 415(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,905

NIRMAL BANG OFFICIAL

03 Jan, 05:44

OPTION BUY GOLDM 78K PE 1110-1070 SL BELOW 890 TG 1400-1500

1,839

NIRMAL BANG OFFICIAL

03 Jan, 05:03

1-2 DAYS Technical call Buy INOXWIND above 190.8 with SL 185 Target 200(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,807

NIRMAL BANG OFFICIAL

03 Jan, 05:02

1-2 DAYS Technical call Buy BATAINDIA above 1432.20 with SL 1405 Target 1490(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,814

NIRMAL BANG OFFICIAL

03 Jan, 04:53

1-2 DAYS Technical Call book partial profit in ESCORTS @ 3386-3390 Target 3440 BUY call initiated 3338.20(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,790

NIRMAL BANG OFFICIAL

27 Dec, 08:14

1-2 Days Derivatives Call Book Partial Profits in SUNPHARMA 1860CE at 44.5-46, Target 60, Call initiated at 36(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

558

NIRMAL BANG OFFICIAL

27 Dec, 08:08

1-2 DAYS Technical Call book partial profit in IPCALAB @ 1623-1625 Target 1645 , BUY call initiated 1602.40(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

647

NIRMAL BANG OFFICIAL

27 Dec, 08:04

1-2 DAYS Derivatives Call Buy LUPIN 30JAN 2240CE above 63.5 with SL 48 Target 84(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

700

NIRMAL BANG OFFICIAL

27 Dec, 08:02

1-2 DAYS Derivatives Call Buy LUPIN 30JAN 2240CE above 63.5 with SL 48 Target 84(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

722

NIRMAL BANG OFFICIAL

27 Dec, 07:45

1-2 DAYS Derivatives Call Buy CONCOR 30JAN 790CE above 21.5 with SL 18 Target 30(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

836

NIRMAL BANG OFFICIAL

27 Dec, 04:08

1-2 DAYS Technical Call book partial profit in CIPLA @ 1500-1505 Target 1520 , BUY call initiated 1480.20(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,425

NIRMAL BANG OFFICIAL

27 Dec, 04:07

1-2 DAYS Technical call Buy IPCALAB above 1602.40 with SL 1580 Target 1645(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,355

NIRMAL BANG OFFICIAL

27 Dec, 03:41

Stocks To Watch
Gujarat Fluorochemicals: The board approved the slump sale of a captive power plant to subsidiary IGREL Mahidad Ltd. for Rs 200 crore. GFL will purchase power up to 107 megawatts from IGREL Mahidad at the rate of Rs 4 per unit, with the transaction value based on the number of units generated and the commercial operation date. The board also approved an investment of up to Rs 40 cr by subscribing to equity shares in the subsidiary to support its capital expenditure requirements. GFL will also acquire a 26% stake in promoter-owned Flurry Wind Energy Pvt. for Rs 200 crore.
Jubilant Foodworks: The company has entered into a memorandum of understanding with Coca-Cola India Pvt. to buy the portfolio of sparkling beverages and other products from the company's authorised bottlers. Jubilant FoodWorks, which is a subsidiary of the Jubilant Bhartia Group, will also conduct "marketing activities for the said products" as per the pact.
Paradeep Phosphates: The company's ammonia and urea plants have now resumed their production. The plants were shut down from Dec. 1.
Gensol Engineering: The company secured an EPC contract worth Rs 897 crore from NTPC Renewable Energy for the development of 225 MW grid-connected solar PV projects at GSECL Solar Park in Gujarat.
Allcargo Logistics: The company’s LCL volume increased by 1% year-on-year to 7,18,000 cubic meters but declined 4% month-on-month. FCL volume reached 54,000 TEUs in November 2024, reflecting a 9% year-on-year increase but a 6% month-on-month decline. Air cargo volume rose by 11% year-on-year and 13% month-on-month, reaching 2.8 million kilograms for the month of November.
Choice International: The company has received an in-principal approval from SEBI for the setting up of a mutual fund. The company would be setting up an AMC and the trustee company.
Renaissance Global: The company has approved the additional investment of up to Rs 90 crores in the arm VJFZCO by way of subscription to shares.
Snowman Logistics: The promoter holding company GDL acquired additional stake in the company. Post acquisition, GDL's stake in the company stands at 50.01%.
Electrosteel Castings: The company is to carry out a planned shutdown of its MBF production facility at the Srikalahasthi unit from Dec. 26 for a period of approximately 10-12 days for maintenance work.
Dixon Technologies: The company’s arm Dixon Electro Manufacturing entered a memorandum of understanding with Cellecor Gadgets for the manufacturing of refrigerators and their related components for Cellecor.
SKF India: The board approved the scheme of arrangement between the company and its arm to demerge industrial business into SKF Industrial.
Puravankara: The company received an administrative warning from SEBI regarding the Pune Projects LLP transaction. The warning is related to the omission of obtaining prior approval for the transaction with Pune Projects LLP.
Adani Enterprises: The company acquired a 26% stake in Gidhmuri Paturia Collieries.
Power Mech Projects: The company received a Rs 186 crore order from Jaiprakash Power for field operation and maintenance in Madhya Pradesh.
NHPC: The hydropower company revised the loss incurred at its Teesta-V Power Station in Sikkim due to flash floods to Rs 1,075.97 crore. The company has received an on-account payment of Rs 150 crore against material damage loss. In addition, the company has informed the insurers of an initial assessment of material loss amounting to Rs 327.67 crore due to a landslide that occurred in Aug. 2024. The Haryana-based firm on Thursday also said that it expects the three units of 250 MW each of the Subansiri Lower HE Project will be completed in May 2025 and the remaining five units will be completed in May 2026 in a phased manner.
Lemon Tree hotels: The company signed a licensed agreement for a 76-room hotel in Maharashtra.

893

NIRMAL BANG OFFICIAL

27 Dec, 03:41

Paradeep Phosphates: The company's ammonia and urea plants have now resumed their production. The plants were shut down from Dec. 1. This is a planned shutdown of these Plants at Goa, in order to replace the catalysts in the primary and secondary reformers, as well as in the LTS (Low temperature Shifts) Converters. Positive

Some promoter and promoter group entities of Star Cement Limited propose to sell their equity holding in Star Cement and have approached Ultratech for the same.
The Board of Directors of the Company at its meeting considered the proposal and approved making an investment to acquire non-controlling minority stake upto 3.70 crores equity shares (9.2%) of Star Cement at a price not exceeding Rs. 235/- per share. Neutral

1,265

NIRMAL BANG OFFICIAL

27 Dec, 03:41

Dhani Services: The arm received registration from the Haryana Real Estate Regulatory Authority for a residential project in Gurugram.
NDTV: The company approved increasing ownership in NDTV Media Ltd., NDTV Worldwide Ltd., NDTV Convergence Ltd., and NDTV Networks Ltd. through the purchase of shares held by minority shareholders at fair market value.
HMA Agro Industries: The board considered and approved the sanction of various credit facilities amounting to Rs 160 crore granted by HDFC Bank Limited to the company.
Share India Securities: The company further acquired 1,82,725 equity shares of Rs 10 apiece each aggregating to Rs 18.27 lakh of its arm Silverleaf Securities Research under rights issue.
Azad Engineering: The company is considering raising funds in its board meet on Jan. 3.

Insider Trades
ION Exchange (INDIA): Promoter Mahabir Prasad Patni sold 25,050 shares between Dec. 12 and Dec. 20.
KPI Green Energy: Promoter Farukbhai Gulambhai Patel bought 6,300 shares on Dec. 24.
Salasar Techno Engineering: Promoter Shikhar Fabtech sold 13.51 lakh shares between Dec. 23 and Dec. 24. Promoter Tripti Gupta sold 1.5 lakh shares on Dec. 24.

Trading Tweaks
Ex/record Bonus Issue: NMDC (2:1), Hardwyn India (2:5).
Ex/record Stock Split: Mazagon Dock Shipbuilders (Face value will be cut from Rs 10/- per share to Rs 5/- per share).

Who’s Meeting Whom
Inox India: To meet investors and analysts on Dec. 31.
Barbeque Nation Hospitality: To meet investors and analysts on Dec. 30.
Skipper: To meet investors and analysts on Dec. 31.
Indian Energy Exchange: To meet investors and analysts on Dec. 30.
Jindal Steel & Power: To meet investors and analysts on Dec. 31.

Money Market
The rupee closed at a record low of 85.26 against the US dollar on Thursday, weakening by 6 paise from its previous close of 85.20 on Tuesday. During the session, the currency hit an all-time intraday low of 85.29, reflecting persistent downward pressure amid global economic uncertainties and dollar strength.

Securities In Ban Period : NIL

Trading of Rights Entitlements pursuant to Rights Issue of Moksh Ornaments
Limited with effect from December 30,
2024
Symbol MOKSH-RE
Name of the Company Moksh Ornaments Limited
Display name Moksh Ornaments Limited-RE
Series BE
ISIN INE514Y20012
Security Description Trading of Rights Entitlement pursuant to Rights Issue
No. of Rights Entitlements 32643999
Trading period for Renunciation of Rights
Entitlements (REs)
From 30 December, 2024 to 07 January, 2025
Date of Suspension January 08, 2025
Market lot 1

Listing of Equity Shares of Mamata Machinery Limited (IPO) with effect from December 27, 2024
Symbol MAMATA [544318]
Name of the Company Mamata Machinery Limited
Series BE*
ISIN INE0TO701015
Face Value Rs. 10/-
Paid-up Value Rs. 10/-
Issue Price for the current public issue
Rs. 243/- per share
Security Description Equity shares of Rs. 10/- each fully paid up
No. of securities 24607800
Distinctive number range As per Annexure I
Market lot 1

Listing of Equity Shares of Dam Capital Advisors Limited (IPO) with effect from December 27, 2024
Symbol DAMCAPITAL [544316]
Name of the Company Dam Capital Advisors Limited
Series EQ
ISIN INE284H01025
Face Value Rs. 2/-
Paid-up Value Rs. 2/-
Issue Price for the current public issue
Rs. 283/- per share
Security Description Equity shares of Rs. 2/- each fully paid up
No. of securities 70686000
Distinctive number range As per Annexure I
Market lot 1

Listing of Equity Shares of Sanathan Textiles Limited (IPO) with effect from December 27, 2024
Symbol SANATHAN [544314]
Name of the Company Sanathan Textiles Limited
Series EQ
ISIN INE0JPD01013
Face Value Rs. 10/-
Paid-up Value Rs. 10/-
Issue Price for the current public issue
Rs. 321/- per share
Security Description Equity shares of Rs. 10/- each fully paid up
No. of securities 84404059
Distinctive number range As per Annexure I
Market lot 1

891

NIRMAL BANG OFFICIAL

26 Nov, 15:41

OPTION BUY MiniGOLDCE 75K bt 1730-1680 SL BELOW 1430 TGT 2100-2230

619

NIRMAL BANG OFFICIAL

26 Nov, 14:47

Option BUY CRUDECE 5900 bt 180-170 SL BELOW 130 TGT 230-250

BUY CRUDE BET 5920-10 SL BELOW 5825 TGT 6030-50

875

NIRMAL BANG OFFICIAL

26 Nov, 13:08

Option BUY GOLDM 75500CE BT 1560-1500 SL BELOW 1300 TGT 1880-2000

BUY ZINC BET 285.2-284.9 SL BELOW 283 TGT 288-288.9

1,251

NIRMAL BANG OFFICIAL

26 Nov, 09:41

1-2 DAYS Technical Call book partial profit in ANGELONE @ 2890-2895 Target 2900 BUY call initiated 2814.40(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,568

NIRMAL BANG OFFICIAL

26 Nov, 07:58

1-2 Days Technical Call buy CAPACITE above 404 with SL 390 Target 432 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,771

NIRMAL BANG OFFICIAL

26 Nov, 07:22

Positional Derivatives Call Buy LAURUSLABS 26DEC Future above 540 with SL 526 Target 570 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,745

NIRMAL BANG OFFICIAL

26 Nov, 07:20

Positional Derivatives Call Buy INDUSINDBNK 26DEC 1020 CE above 30 with SL 20 Target 50 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,771

NIRMAL BANG OFFICIAL

26 Nov, 06:42

BUY GUARGUM DEC 10340-300 SL BELOW 10100 TARGET 10600-10800

1,864

NIRMAL BANG OFFICIAL

26 Nov, 05:44

1-2 DAYS Technical Sell Call INDHOTEL FUT SL TRIGGER @794. Visit our website for disclosure. (Nirmal Bang).

1,902

NIRMAL BANG OFFICIAL

26 Nov, 04:54

Intraday Derivatives Call Book Partial Profits in BANKNIFTY 27NOV 52200 PE at 390-395, Target 485, Call initiated at 285 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,974

NIRMAL BANG OFFICIAL

26 Nov, 04:52

1-2 DAYS Call Technical call SELL MFSL FUT 28 NOV BELOW 1164.40 with SL 1185 Target 1120(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,938

NIRMAL BANG OFFICIAL

26 Nov, 04:52

1-2 DAYS Call Technical call SELL MFSL FUT 28 NOV BELOW 1164.40 with SL 1185 Target 1120(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,802

NIRMAL BANG OFFICIAL

26 Nov, 04:49

Intraday Derivatives Call Buy BANKNIFTY 27NOV 52200 PE above 285 with SL 190 Target 485 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,881

NIRMAL BANG OFFICIAL

26 Nov, 04:45

1-2 DAYS Call Technical call SELL DIVISLAB FUT 26DEC BELOW 6060.4 with SL 6180 Target 5740 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,760

NIRMAL BANG OFFICIAL

26 Nov, 04:39

1-2 DAYS Technical call Buy ANGELONE above 2814.40 with SL 2770 Target 2900(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,773

NIRMAL BANG OFFICIAL

26 Nov, 04:36

1-2 DAYS Call Technical call SELL INDHOTEL FUT 26DEC BELOW 786.4 with SL 794 Target 760 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang)

1,644

NIRMAL BANG OFFICIAL

26 Nov, 04:31

Intraday Derivatives Call Book Partial Profits in NIFTY 28NOV 24200 PE at 123-128, Target 160, Call initiated at 102 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,601

NIRMAL BANG OFFICIAL

26 Nov, 04:24

Intraday Derivatives Call Buy NIFTY 28NOV 24200 PE above 102 with SL 70 Target 160 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,697

NIRMAL BANG OFFICIAL

26 Nov, 03:40

Brokerage Update:

Jefferies on Reliance: Maintain Buy with target price of Rs 1700

JP Morgan on Cyient: Maintains Overweight with a target price of Rs. 2,250

JP Morgan on L&T Tech: Maintains Overweight with a target price of Rs. 6,300

Kotak Securities on Emcure: Upgrade to Buy from Add; target price at Rs 1680

JP Morgan on KPIT Tech: Maintains Overweight with a target price of Rs. 1,900

JPMorgan on Bharti Hexacom: Maintain Overweight with target price of Rs 1630

UBS on Swiggy: Initiate Buy with target price of Rs 515

JP Morgan on BEL: Maintains Overweight with a target price of Rs. 340

JP Morgan on HAL: Maintains Overweight with a target price of Rs. 5,135

JP Morgan on Persistent Systems: Maintains Overweight with a target price of Rs. 6,100

JP Morgan on Tata Tech: Maintains Underweight with a target price of Rs. 800

JP Morgan on Tata Elxsi: Maintains Underweight with a target price of Rs. 6,400

Indus Towers Raised to Neutral at Macquarie; Target Price 310 rupees

Mazagon Dock Rated New Neutral at JPMorgan; Target Price 4,248 rupees

Colgate India Raised to Buy at Jefferies; Target Price 3,570 rupees

1,760

NIRMAL BANG OFFICIAL

19 Nov, 17:08

Option BUY NATGAS 255 CE 7.5-7 SL BELOW 3.6 TGT 12-14.7

560

NIRMAL BANG OFFICIAL

19 Nov, 16:26

Book 244.4-244.8 - ( BUY ALUMINIUM AT 242.5-242.2 SL BELOW 240.80 TARGET 245-246 )

720

NIRMAL BANG OFFICIAL

19 Nov, 15:50

Book full 75440-400 and wait for fresh call - ( SELL GOLD BET 75560-610 SL ABV 75867 TGT 75000-74800 )

867

NIRMAL BANG OFFICIAL

19 Nov, 15:41

Book full 75440-400 and wait for fresh call - ( SELL GOLD BET 75560-610 SL ABV 75867 TGT 75000-74800 )

904

NIRMAL BANG OFFICIAL

19 Nov, 15:18

Book full 4.3-3.8 - ( Option SELL NATGAS245PE BT 5.5-6.4 SL ABV 8.9 TGT 0 )

979

NIRMAL BANG OFFICIAL

19 Nov, 15:01

Book Full 235-240 - ( Option BUY CRUDECE5850 bt 215-205 SL BELOW 180 TGT 260-275 )

1,090

NIRMAL BANG OFFICIAL

19 Nov, 14:43

Option BUY CRUDECE5850 bt 215-205 SL BELOW 180 TGT 260-275

1,122

NIRMAL BANG OFFICIAL

19 Nov, 14:24

SELL GOLD BET 75560-610 SL ABV 75867 TGT 75000-74800

1,145

NIRMAL BANG OFFICIAL

19 Nov, 14:23

Option BUY SILVERPE89500 bt 780-720 SL BELOW 380 TGT 1200-1340

1,139

NIRMAL BANG OFFICIAL

19 Nov, 14:15

Option SELL NATGAS245PE BT 5.5-6.4 SL ABV 8.9 TGT 0

1,128

NIRMAL BANG OFFICIAL

19 Nov, 09:49

NIITLTD SL TRIGGER @188 Visit our website for disclosure. (Nirmal Bang).

1,526

NIRMAL BANG OFFICIAL

19 Nov, 09:37

1-2 DAYS INOXWIND CLOSE @191.5 Visit our website for disclosure. (Nirmal Bang).

1,516

NIRMAL BANG OFFICIAL

19 Nov, 09:36

1-2 DAYS INOXWIND CLOSE @191.5 Visit our website for disclosure. (Nirmal Bang).

1,571

NIRMAL BANG OFFICIAL

19 Nov, 09:25

UKRAINE MAKES FIRST ATACMS STRIKE INSIDE RUSSIA: RBC-UKRAINE

1,604

NIRMAL BANG OFFICIAL

19 Nov, 08:34

1-2 DAYS Technical call Buy NRBBEARING above 287 with SL 280 Target 302(ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,727

NIRMAL BANG OFFICIAL

19 Nov, 08:18

1-2 Days MCX FUT SL Triggered @ 6000. Visit our website for disclosure (Nirmal Bang).

1,712

NIRMAL BANG OFFICIAL

19 Nov, 06:47

NESTLE : NESTLE GLOBAL CUTS 2025 PROFITABILITY TARGET, STEPS UP SPENDING IN TURNAROUND PUSH: WSJ

1,835

NIRMAL BANG OFFICIAL

19 Nov, 06:29

1-2 DAYS Technical Call Buy FILATEX above 65.7 with Stop Loss 63.5 Target 70(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,822

NIRMAL BANG OFFICIAL

19 Nov, 06:07

BULK DEAL IN AXISBNK 37 LK SHARES @ 1130.1 IN NSE
CMP 1128

1,848

NIRMAL BANG OFFICIAL

19 Nov, 06:06

PM MODI, STARMER AGREED TO RELAUNCH UK-INDIA TRADE TALKS EARLY NEXT YEAR - DOWNING STREET

1,866

NIRMAL BANG OFFICIAL

18 Nov, 16:07

Option SELL CRUDE 5600 PE BT 130-140 SL ABV 190 TGT 30

358

NIRMAL BANG OFFICIAL

18 Nov, 15:30

option BUY GOLDM 75K CE bt 600-550 SL BELOW 250 TGT 1000-1120

546

NIRMAL BANG OFFICIAL

18 Nov, 14:42

Book 291-300 - ( OPTION BUY CRUDE CE 5650 BT 250-230 SL BELOW 170 TGT 300 - 300 )

Option SELL NATGASNOV 240PE BT 5.5-6 SL ABV 8.8 TGT 0

BUY NATGAS BT 244-243 SL BELOW 239 TGT 250-53

758

NIRMAL BANG OFFICIAL

18 Nov, 13:36

Option BUY COPPER CE800 bt7.16-6.5 SL BELOW 5 TGT 10-11.3

962

NIRMAL BANG OFFICIAL

18 Nov, 13:35

BUY COPPER BET 799-98 SL BELOW 793 TGT 807-810

959

NIRMAL BANG OFFICIAL

18 Nov, 13:30

Tgt - ( OPTION BUY SILVERM CE 89K BT 960-900 SL BELOW 600 TGT 1130-1200 )

1,052

NIRMAL BANG OFFICIAL

18 Nov, 13:28

Book 74825-850 - ( BUY GOLD BT 74600-550 SL BELOW 74300 TGT 74990-75100 )

997

NIRMAL BANG OFFICIAL

18 Nov, 09:00

NSEL Scam Case: Supreme Court gives final 4 weeks to 63 Moons Technologies to settle with investors

1,578

NIRMAL BANG OFFICIAL

18 Nov, 07:14

1-2 DAYS Technical call Buy NAZARA above 926.40 with SL 910 Target 955(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,879

NIRMAL BANG OFFICIAL

18 Nov, 07:08

1-2 DAYS Technical Call book partial profit in LAURASLAB @ 493-495 Target 510 BUY call initiated 484.70(ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,862

NIRMAL BANG OFFICIAL

18 Nov, 05:39

1-2 DAYS Call Technical call SELL MCX FUT 28 NOV BELOW 5888.40 with SL 6000 Target 5670(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang)

1,971

NIRMAL BANG OFFICIAL

18 Nov, 05:20

Intraday Derivatives Call NIFTY 21NOV 23500 CE SL triggered at 70 Visit our website for disclosure (Nirmal Bang)

1,966

NIRMAL BANG OFFICIAL

18 Nov, 05:12

Intraday Derivatives Call Revise Sl in NIFTY 21NOV 23500 CE to 70 Visit our website for disclosure (Nirmal Bang)

1,864

NIRMAL BANG OFFICIAL

18 Nov, 04:36

Intraday Derivatives Call Buy NIFTY 21NOV 23500 CE above 115 with SL 80 Target 200 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,964

NIRMAL BANG OFFICIAL

18 Nov, 04:14

1-2 Days Derivatives Call NIFTY 28NOV Future SL triggered at 23450 Visit our website for disclosure (Nirmal Bang)

1,945

NIRMAL BANG OFFICIAL

18 Nov, 03:47

1-2 DAYS Technical Call book partial profit in HIKAL @ 412-415 Target 424 BUY call initiated 398.20(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,950

NIRMAL BANG OFFICIAL

18 Nov, 03:43

TARGET ACHIEVED IN GOLD CARRIED BUY CALL

1,911

NIRMAL BANG OFFICIAL

18 Nov, 03:41

Brokerage Update -

Equirus on Swiggy Initiate Add with target of Rs 450

GS on Honasa Downgrade to Neutral from Buy; Cut target to Rs 375 from Rs 570

MS on Muthoot Finance Upgrade to Equal-weight from Underweight; Hike target to Rs 1600 from Rs 1430

Nomura on Hero Moto Maintain Buy; Hike target to Rs 5805 from Rs 5663

Citi on Grasim Maintain Buy; Cut target to Rs 3100 from Rs 3250

Equirus on Swiggy Initiate Add with target of Rs 450

GS on Honasa Downgrade to Neutral from Buy; Cut target to Rs 375 from Rs 570

Jefferies Downgrade MGL to U-P, target cut to Rs 1130

Jefferies Downgrade IGL To U-P, target cut to Rs 295 from Rs 390

JPM Downgrade MGL to Neutral from OW, target cut to Rs 1300

JPM Downgrade IGL TO UW, target cut to Rs 343

Jefferies on HAL Buy, target Rs 5500

CLSA on HAL O-P, target Rs 4731

CLSA on Fusion Fin U-P, target Cut to Rs 155 from Rs 260

Macquarie on Thermax U-p, target Rs 3700

Jefferies on Honasa Buy, target cut to Rs 425

JPM on Honasa UW, target cut to Rs 330

CLSA on DLF Upgrade to O-P, target raised to Rs 870

Equirus on Swiggy Initiate add with target price of Rs 450

CLSA on CG Consumer Maintain Outperform with target price of Rs 500

Citi on Grasim Maintain Buy; Cut target price to Rs 3100 from Rs 3250

Jefferies On Bharat Forge Maintain underperform; target Rs 1100

Jefferies On Hero MotoCorp maintain Buy target Rs 5500

1,813

NIRMAL BANG OFFICIAL

18 Nov, 03:41

BLOCK DEAL IN MEDPLUS OF 78.90 LK @ 700 IN NSE

1,462

NIRMAL BANG OFFICIAL

14 Nov, 13:33

BUY ALUMINIUM BET 235.9-235.6 SL BELOW 233 TGT 238.8-239.7

517

NIRMAL BANG OFFICIAL

14 Nov, 13:05

BUY COPPER BET 790-89 SL BELOW 784 TGT 798-801

Option BUY COPPER CE 790 bt 10.3-9.5 SL BELOW 7 TGT 13.6-14.7

675

NIRMAL BANG OFFICIAL

14 Nov, 12:28

Book 1260-1300 and buy again after the data-Optiom BUY GOLDMCE73K bt 1115-1070 SM BELOW 800 TGT 1450-1600

840

NIRMAL BANG OFFICIAL

14 Nov, 12:15

[14/11, 17:37] MR.-HO-S031 SUNIL JAIN: *Muthoot Finance Ltd. -S* | *CMP* Rs. 1800 | *M Cap* Rs. 72264 Cr | *52 W H/L* 2079/1262
(Nirmal Bang Retail Research)
*Result is above expectations*
NII came at Rs. 2567 Cr (34.9% YoY) vs YoY Rs. 1903.4 Cr, QoQ Rs. 2352.7 Cr
PBP came at Rs. 1915 Cr (42.7% YoY) vs expectation of Rs. 1855.8 Cr, YoY Rs. 1342.2 Cr, QoQ Rs. 1715.3 Cr
Provision came at Rs. 207 Cr vs expectation of Rs. 82.7 Cr, YoY Rs. 12 Cr, QoQ Rs. 223.6 Cr
PAT came at Rs. 1251.1 Cr (26.3% YoY) vs expectation of Rs. 1277.3 Cr, YoY Rs. 991 Cr, QoQ Rs. 1078.7 Cr
Gross NPA (%) came at 4.3% vs QoQ 3.98%
Net NPA (%) came at 3.68% vs QoQ 3.48%
Quarter EPS is Rs. 31.2
Stock is trading at P/E of 12.4x FY26E EPS & 2.8x trailing P/BV
[14/11, 17:39] MR.-HO-S031 SUNIL JAIN: *Garware Technical Fibres Ltd.* | *CMP* Rs. 3910 | *M Cap* Rs. 7763 Cr | *52 W H/L* 4478/3050
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 420.6 Cr (25.1% QoQ, 28.1% YoY) vs QoQ Rs. 336.3 Cr, YoY Rs. 328.3 Cr
EBIDTA came at Rs. 91.5 Cr (42% QoQ, 33.4% YoY) vs QoQ Rs. 64.4 Cr, YoY Rs. 68.6 Cr
EBITDA Margin came at 21.7% vs QoQ 19.2%, YoY 20.9%
Adj. PAT came at Rs. 66 Cr vs QoQ Rs. 46.8 Cr, YoY Rs. 52.5 Cr
Quarter EPS is Rs. 33.2
Stock is trading at P/E of 34.4x TTM EPS
[14/11, 17:40] MR.-HO-S031 SUNIL JAIN: *Sanghvi Movers Ltd.* | *CMP* Rs. 361 | *M Cap* Rs. 3125 Cr | *52 W H/L* 747/310
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 136.9 Cr (-9.1% QoQ, -2.2% YoY) vs QoQ Rs. 150.6 Cr, YoY Rs. 140 Cr
EBIDTA came at Rs. 68.7 Cr (-7.6% QoQ, -20.2% YoY) vs QoQ Rs. 74.3 Cr, YoY Rs. 86.1 Cr
EBITDA Margin came at 50.2% vs QoQ 49.4%, YoY 61.5%
Adj. PAT came at Rs. 29.4 Cr vs QoQ Rs. 40.6 Cr, YoY Rs. 37.2 Cr
Quarter EPS is Rs. 3.4
Stock is trading at P/E of 17.5x TTM EPS
[14/11, 17:41] MR.-HO-S031 SUNIL JAIN: *Honasa Consumer Ltd.* | *CMP* Rs. 370 | *M Cap* Rs. 12010 Cr | *52 W H/L* 547/256
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 461.8 Cr (-16.6% QoQ, -6.9% YoY) vs expectation of Rs. 509.7 Cr, QoQ Rs. 554.1 Cr, YoY Rs. 496.1 Cr
EBIDTA came at Rs. -30.7 Cr (-166.6% QoQ, -176.4% YoY) vs expectation of Rs. 3.3 Cr, QoQ Rs. 46.1 Cr, YoY Rs. 40.2 Cr
EBITDA Margin came at -6.6% vs expectation of 0.6%, QoQ 8.3%, YoY 8.1%
Adj. PAT came at Rs. -18.6 Cr vs expectation of Rs. 6.1 Cr, QoQ Rs. 40.3 Cr, YoY Rs. 29.4 Cr
Quarter EPS is Rs. -0.6
Stock is trading at P/E of 52.4x FY26E EPS
[14/11, 17:43] MR.-HO-S031 SUNIL JAIN: *Crompton Greaves Consumer Electricals Ltd.* | *CMP* Rs. 371 | *M Cap* Rs. 23892 Cr | *52 W H/L* 484/261
(Nirmal Bang Retail Research)
*Result is inline with expectation expectations*
Revenue from Operations came at Rs. 1896 Cr (-11.3% QoQ, 6.4% YoY) vs expectation of Rs. 1892.8 Cr, QoQ Rs. 2137.7 Cr, YoY Rs. 1782.3 Cr
EBIDTA came at Rs. 203.4 Cr (-12.5% QoQ, 16.6% YoY) vs expectation of Rs. 193.9 Cr, QoQ Rs. 232.4 Cr, YoY Rs. 174.5 Cr
EBITDA Margin came at 10.7% vs expectation of 10.2%, QoQ 10.9%, YoY 9.8%
Adj. PAT came at Rs. 124.9 Cr vs expectation of Rs. 123.9 Cr, QoQ Rs. 151.7 Cr, YoY Rs. 97.2 Cr
Quarter EPS is Rs. 1.9
Stock is trading at P/E of 32x FY26E EPS
[14/11, 17:44] MR.-HO-S031 SUNIL JAIN: *GPT Healthcare Ltd.* | *CMP* Rs. 163 | *M Cap* Rs. 1340 Cr | *52 W H/L* 220/129
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 105.7 Cr (8% QoQ, -2.1% YoY) vs QoQ Rs. 97.8 Cr, YoY Rs. 108 Cr
EBIDTA came at Rs. 23.4 Cr (30.3% QoQ, -4.8% YoY) vs QoQ Rs. 18 Cr, YoY Rs. 24.6 Cr
EBITDA Margin came at 22.2% vs QoQ 18.4%, YoY 22.8%
Adj. PAT came at Rs. 14.8 Cr vs QoQ Rs. 10 Cr, YoY Rs. 13.5 Cr
Quarter EPS is Rs. 1.8
Stock is trading at P/E of 27.3x TTM EPS

888

NIRMAL BANG OFFICIAL

14 Nov, 09:28

*JG Chemicals Ltd.* | *CMP* Rs. 390 | *M Cap* Rs. 1528 Cr | *52 W H/L* 464/171
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 212.1 Cr (4.7% QoQ, 38.9% YoY) vs QoQ Rs. 202.5 Cr, YoY Rs. 152.7 Cr
EBIDTA came at Rs. 21.1 Cr (-5.8% QoQ, 166.8% YoY) vs QoQ Rs. 22.4 Cr, YoY Rs. 7.9 Cr
EBITDA Margin came at 10% vs QoQ 11.1%, YoY 5.2%
Adj. PAT came at Rs. 16.5 Cr vs QoQ Rs. 15.2 Cr, YoY Rs. 3.8 Cr
Quarter EPS is Rs. 4.2
Stock is trading at P/E of 34.1x TTM EPS

1,277

NIRMAL BANG OFFICIAL

14 Nov, 09:28

*JG Chemicals Ltd.* | *CMP* Rs. 390 | *M Cap* Rs. 1528 Cr | *52 W H/L* 464/171
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 212.1 Cr (4.7% QoQ, 38.9% YoY) vs QoQ Rs. 202.5 Cr, YoY Rs. 152.7 Cr
EBIDTA came at Rs. 21.1 Cr (-5.8% QoQ, 166.8% YoY) vs QoQ Rs. 22.4 Cr, YoY Rs. 7.9 Cr
EBITDA Margin came at 10% vs QoQ 11.1%, YoY 5.2%
Adj. PAT came at Rs. 16.5 Cr vs QoQ Rs. 15.2 Cr, YoY Rs. 3.8 Cr
Quarter EPS is Rs. 4.2
Stock is trading at P/E of 34.1x TTM EPS

1,250

NIRMAL BANG OFFICIAL

14 Nov, 09:10

*Prakash Industries Ltd.* | *CMP* Rs. 170 | *M Cap* Rs. 3047 Cr | *52 W H/L* 237/128
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 1076.9 Cr (-7.7% QoQ, 21.1% YoY) vs QoQ Rs. 1166.9 Cr, YoY Rs. 889 Cr
EBIDTA came at Rs. 131.4 Cr (-0.4% QoQ, 2.4% YoY) vs QoQ Rs. 131.9 Cr, YoY Rs. 128.3 Cr
EBITDA Margin came at 12.2% vs QoQ 11.3%, YoY 14.4%
Adj. PAT came at Rs. 90.4 Cr vs QoQ Rs. 90.5 Cr, YoY Rs. 89.4 Cr
Quarter EPS is Rs. 5
Stock is trading at P/E of 8.7x TTM EPS

1,198

NIRMAL BANG OFFICIAL

14 Nov, 08:53

*Tega Industries Ltd.* | *CMP* Rs. 2007 | *M Cap* Rs. 13350 Cr | *52 W H/L* 2035/842
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 353.3 Cr (3.9% QoQ, -6.4% YoY) vs expectation of Rs. 412.9 Cr, QoQ Rs. 340 Cr, YoY Rs. 377.5 Cr
EBIDTA came at Rs. 34.4 Cr (-46.5% QoQ, -58% YoY) vs expectation of Rs. 84 Cr, QoQ Rs. 64.2 Cr, YoY Rs. 81.7 Cr
EBITDA Margin came at 9.7% vs expectation of 20.3%, QoQ 18.9%, YoY 21.6%
Adj. PAT came at Rs. 7.2 Cr vs expectation of Rs. 51.6 Cr, QoQ Rs. 36.7 Cr, YoY Rs. 47.4 Cr
Quarter EPS is Rs. 1.1
Stock is trading at P/E of 38.9x FY26E EPS

1,171

NIRMAL BANG OFFICIAL

14 Nov, 08:47

*Bharat Dynamics Ltd.* | *CMP* Rs. 970 | *M Cap* Rs. 35557 Cr | *52 W H/L* 1795/450
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 544.8 Cr (185% QoQ, -11.5% YoY) vs expectation of Rs. 583.6 Cr, QoQ Rs. 191.2 Cr, YoY Rs. 615.8 Cr
EBIDTA came at Rs. 98.8 Cr (-288.9% QoQ, -26.3% YoY) vs expectation of Rs. 90.3 Cr, QoQ Rs. -52.3 Cr, YoY Rs. 134 Cr
EBITDA Margin came at 18.1% vs expectation of 15.5%, QoQ -27.4%, YoY 21.8%
Adj. PAT came at Rs. 122.5 Cr vs expectation of Rs. 111.4 Cr, QoQ Rs. 7.2 Cr, YoY Rs. 147.1 Cr
Quarter EPS is Rs. 3.3
Stock is trading at P/E of 64.2x TTM EPS

*Som Distilleries Breweries & Wineries Ltd.* | *CMP* Rs. 103 | *M Cap* Rs. 1997 Cr | *52 W H/L* 149/85
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 289.7 Cr (-43.5% QoQ, 17% YoY) vs QoQ Rs. 513.1 Cr, YoY Rs. 247.7 Cr
EBIDTA came at Rs. 34 Cr (-47.1% QoQ, 24.8% YoY) vs QoQ Rs. 64.2 Cr, YoY Rs. 27.2 Cr
EBITDA Margin came at 11.7% vs QoQ 12.5%, YoY 11%
Adj. PAT came at Rs. 18.7 Cr vs QoQ Rs. 40.6 Cr, YoY Rs. 14.9 Cr
Quarter EPS is Rs. 1
Stock is trading at P/E of 20.5x TTM EPS

*Jyoti CNC Automation Ltd.* | *CMP* Rs. 1101 | *M Cap* Rs. 25037 Cr | *52 W H/L* 1450/368
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 430.7 Cr (19% QoQ, 42.5% YoY) vs QoQ Rs. 361.8 Cr, YoY Rs. 302.3 Cr
EBIDTA came at Rs. 106.6 Cr (13.3% QoQ, 95.5% YoY) vs QoQ Rs. 94.1 Cr, YoY Rs. 54.5 Cr
EBITDA Margin came at 24.7% vs QoQ 26%, YoY 18%
Adj. PAT came at Rs. 75.9 Cr vs QoQ Rs. 60 Cr, YoY Rs. 16.8 Cr
Quarter EPS is Rs. 3.3
Stock is trading at P/E of 88.3x TTM EPS

1,151

NIRMAL BANG OFFICIAL

14 Nov, 08:36

*Garware Hi-Tech Films Ltd.* | *CMP* Rs. 4157 | *M Cap* Rs. 9658 Cr | *52 W H/L* 4218/1270
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 588.8 Cr (24.1% QoQ, 48.3% YoY) vs QoQ Rs. 474.5 Cr, YoY Rs. 397.1 Cr
EBIDTA came at Rs. 124.7 Cr (5.1% QoQ, 92.2% YoY) vs QoQ Rs. 118.6 Cr, YoY Rs. 64.9 Cr
EBITDA Margin came at 21.2% vs QoQ 25%, YoY 16.3%
Adj. PAT came at Rs. 95.7 Cr vs QoQ Rs. 88.4 Cr, YoY Rs. 45.9 Cr
Quarter EPS is Rs. 41.2
Stock is trading at P/E of 32.4x TTM EPS

1,023

NIRMAL BANG OFFICIAL

14 Nov, 08:35

Intraday Derivatives Call Buy SENSEX 14NOV 77700 CE above 18 with SL 0.1 Target 70 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

992

NIRMAL BANG OFFICIAL

14 Nov, 08:28

Intraday Derivatives Call Buy SENSEX 14NOV 77600 CE above 24 with SL 0.1 Target 80 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,096

NIRMAL BANG OFFICIAL

14 Nov, 08:24

Intraday Derivatives Call Buy SENSEX 14NOV 77600 CE above 24 with SL 0.1 Target 80 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,137

NIRMAL BANG OFFICIAL

14 Nov, 08:05

*Ipca Laboratories Ltd.* | *CMP* Rs. 1540 | *M Cap* Rs. 39053 Cr | *52 W H/L* 1709/1042
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Revenue from Operations came at Rs. 2354.9 Cr (12.5% QoQ, 15.8% YoY) vs expectation of Rs. 2326.3 Cr, QoQ Rs. 2092.6 Cr, YoY Rs. 2034 Cr
EBIDTA came at Rs. 441.5 Cr (12.4% QoQ, 37.4% YoY) vs expectation of Rs. 464.4 Cr, QoQ Rs. 392.7 Cr, YoY Rs. 321.3 Cr
EBITDA Margin came at 18.7% vs expectation of 20%, QoQ 18.8%, YoY 15.8%
Adj. PAT came at Rs. 229.5 Cr vs expectation of Rs. 253.4 Cr, QoQ Rs. 192.2 Cr, YoY Rs. 145.1 Cr
Quarter EPS is Rs. 9
Stock is trading at P/E of 33.1x FY26E EPS

1,282

NIRMAL BANG OFFICIAL

14 Nov, 07:58

*Hindustan Aeronautics Ltd.* | *CMP* Rs. 4089 | *M Cap* Rs. 273439 Cr | *52 W H/L* 5675/1768
(Nirmal Bang Retail Research)
*Result is broadly in-line with expectations*
Revenue from Operations came at Rs. 5976.6 Cr (37.5% QoQ, 6% YoY) vs expectation of Rs. 6147.2 Cr, QoQ Rs. 4347.6 Cr, YoY Rs. 5635.8 Cr
EBIDTA came at Rs. 1630.1 Cr (64% QoQ, 6.6% YoY) vs expectation of Rs. 1734.5 Cr, QoQ Rs. 993.7 Cr, YoY Rs. 1528.8 Cr
EBITDA Margin came at 27.3% vs expectation of 28.2%, QoQ 22.9%, YoY 27.1%
Adj. PAT came at Rs. 1484.5 Cr vs expectation of Rs. 1354.7 Cr, QoQ Rs. 1435.6 Cr, YoY Rs. 1235.3 Cr
Quarter EPS is Rs. 22.2
Stock is trading at P/E of 30x FY26E EPS

1,137

NIRMAL BANG OFFICIAL

14 Nov, 07:57

[14/11, 13:22] JB-EMP- NB08582 HARSHAL MEHTA: BUY CRUDE OIL 5800 CE AT 44 SL BELOW 10 TARGET 85-100
[14/11, 13:26] JB-EMP- NB08582 HARSHAL MEHTA: CRUDE OIL 15 NOV EXPIRY CALL
SELL 5750 CE AT 68.50
SELL 5750 PE AT 57.50
BUY 5600 PE AT 15.50
BUY 5900 CE AT 17
PROFIT ABOVE 5625 AND BELOW 5875

1,190

NIRMAL BANG OFFICIAL

14 Nov, 07:37

1-2 DAYS Technical call Buy HIKAL above 398.20 with SL 385 Target 424(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,101

NIRMAL BANG OFFICIAL

14 Nov, 07:35

*Lincoln Pharmaceuticals Ltd.* | *CMP* Rs. 632 | *M Cap* Rs. 1264 Cr | *52 W H/L* 814/471
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 161.2 Cr (9.5% QoQ, 3.3% YoY) vs QoQ Rs. 147.3 Cr, YoY Rs. 156 Cr
EBIDTA came at Rs. 28.4 Cr (24.8% QoQ, -8.9% YoY) vs QoQ Rs. 22.7 Cr, YoY Rs. 31.1 Cr
EBITDA Margin came at 17.6% vs QoQ 15.4%, YoY 20%
Adj. PAT came at Rs. 26.3 Cr vs QoQ Rs. 23.7 Cr, YoY Rs. 27.7 Cr
Quarter EPS is Rs. 13.2
Stock is trading at P/E of 13.1x TTM EPS

*Bharat Forge Ltd.* | *CMP* Rs. 1321 | *M Cap* Rs. 61504 Cr | *52 W H/L* 1826/1002
(Nirmal Bang Retail Research)
*Result inline with Expectation*
Revenue from Operations came at Rs. 2246.7 Cr (-3.9% QoQ, -0.1% YoY) vs expectation of Rs. 2388.7 Cr, QoQ Rs. 2338.1 Cr, YoY Rs. 2249.4 Cr
EBIDTA came at Rs. 625.4 Cr (-4% QoQ, 1.5% YoY) vs expectation of Rs. 657.2 Cr, QoQ Rs. 651.5 Cr, YoY Rs. 616.3 Cr
EBITDA Margin came at 27.8% vs expectation of 27.5%, QoQ 27.9%, YoY 27.4%
Adj. PAT came at Rs. 347.6 Cr vs expectation of Rs. 381.4 Cr, QoQ Rs. 415.1 Cr, YoY Rs. 348.1 Cr
Quarter EPS is Rs. 7.5
Stock is trading at P/E of 30.7x FY26E EPS

*Signpost India Ltd.* | *CMP* Rs. 250 | *M Cap* Rs. 1337 Cr | *52 W H/L* 466/212
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 129.7 Cr (29.1% QoQ, 52.3% YoY) vs QoQ Rs. 100.5 Cr, YoY Rs. 85.2 Cr
EBIDTA came at Rs. 34.1 Cr (42% QoQ, 174.5% YoY) vs QoQ Rs. 24 Cr, YoY Rs. 12.4 Cr
EBITDA Margin came at 26.3% vs QoQ 23.9%, YoY 14.6%
Adj. PAT came at Rs. 15.9 Cr vs QoQ Rs. 11.2 Cr, YoY Rs. 6.4 Cr
Quarter EPS is Rs. 3
Stock is trading at P/E of 24.6x TTM EPS

*Schneider Electric Infrastructure Ltd.* | *CMP* Rs. 728 | *M Cap* Rs. 17416 Cr | *52 W H/L* 980/300
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 599.7 Cr (1.1% QoQ, 21% YoY) vs QoQ Rs. 592.9 Cr, YoY Rs. 495.8 Cr
EBIDTA came at Rs. 74.2 Cr (-9.2% QoQ, 18.5% YoY) vs QoQ Rs. 81.7 Cr, YoY Rs. 62.6 Cr
EBITDA Margin came at 12.4% vs QoQ 13.8%, YoY 12.6%
Adj. PAT came at Rs. 54.3 Cr vs QoQ Rs. 48.5 Cr, YoY Rs. 46.3 Cr
Quarter EPS is Rs. 2.3
Stock is trading at P/E of 88.1x TTM EPS

1,187

NIRMAL BANG OFFICIAL

14 Nov, 06:57

*JNK India Ltd.* | *CMP* Rs. 604 | *M Cap* Rs. 3360 Cr | *52 W H/L* 897/550
(Nirmal Bang Retail Research)
*Result declining*
Revenue from Operations came at Rs. 102.7 Cr (16.7% QoQ, 5.9% YoY) vs QoQ Rs. 88 Cr, YoY Rs. 96.9 Cr
EBIDTA came at Rs. 11.6 Cr (23.7% QoQ, -45.9% YoY) vs QoQ Rs. 9.4 Cr, YoY Rs. 21.5 Cr
EBITDA Margin came at 11.3% vs QoQ 10.7%, YoY 22.1%
Adj. PAT came at Rs. 7.5 Cr vs QoQ Rs. 6.4 Cr, YoY Rs. 12.5 Cr
Quarter EPS is Rs. 1.3
Stock is trading at P/E of 75x TTM EPS

1,204

NIRMAL BANG OFFICIAL

14 Nov, 06:48

*Kirloskar Industries Ltd.* | *CMP* Rs. 4680 | *M Cap* Rs. 4660 Cr | *52 W H/L* 6699/2858
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 1687.7 Cr (8.3% QoQ, 7% YoY) vs QoQ Rs. 1559 Cr, YoY Rs. 1578 Cr
EBIDTA came at Rs. 211.7 Cr (18.5% QoQ, -19.6% YoY) vs QoQ Rs. 178.7 Cr, YoY Rs. 263.2 Cr
EBITDA Margin came at 12.5% vs QoQ 11.5%, YoY 16.7%
Adj. PAT came at Rs. 49.7 Cr vs QoQ Rs. 28.5 Cr, YoY Rs. 82.2 Cr
Quarter EPS is Rs. 49.9
Stock is trading at P/E of 22.2x TTM EPS

1,282

NIRMAL BANG OFFICIAL

08 Nov, 09:25

BULK DEAL IN RELIANCE 32 LAKH SHARES @ 1280 IN NSE
CMP 1284 -1.5%

621

NIRMAL BANG OFFICIAL

08 Nov, 09:24

BEL: CO WINS ORDER WORTH RUPEES 500 CR

615

NIRMAL BANG OFFICIAL

08 Nov, 09:18

*Star Cement Ltd.* | *CMP* Rs. 201 | *M Cap* Rs. 8133 Cr | *52 W H/L* 256/147
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 641.5 Cr (-14.6% QoQ, 9.6% YoY) vs expectation of Rs. 631.3 Cr, QoQ Rs. 751 Cr, YoY Rs. 585.3 Cr
EBIDTA came at Rs. 95.6 Cr (-17.7% QoQ, -3% YoY) vs expectation of Rs. 86.8 Cr, QoQ Rs. 116.1 Cr, YoY Rs. 98.6 Cr
EBITDA Margin came at 14.9% vs expectation of 13.7%, QoQ 15.5%, YoY 16.8%
Adj. PAT came at Rs. 5.7 Cr vs expectation of Rs. 19.2 Cr, QoQ Rs. 31 Cr, YoY Rs. 40.7 Cr
Quarter EPS is Rs. 0.1
Stock is trading at ev/ebitda of 9.72x FY26E

719

NIRMAL BANG OFFICIAL

08 Nov, 09:07

*Ethos Ltd.* | *CMP* Rs. 2885 | *M Cap* Rs. 7063 Cr | *52 W H/L* 3525/1768
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 297.1 Cr (8.7% QoQ, 26.3% YoY) vs QoQ Rs. 273.2 Cr, YoY Rs. 235.2 Cr
EBIDTA came at Rs. 42.2 Cr (-2.6% QoQ, 13.1% YoY) vs QoQ Rs. 43.3 Cr, YoY Rs. 37.3 Cr
EBITDA Margin came at 14.2% vs QoQ 15.8%, YoY 15.8%
Adj. PAT came at Rs. 21.2 Cr vs QoQ Rs. 22.8 Cr, YoY Rs. 18.6 Cr
Quarter EPS is Rs. 8.7
Stock is trading at P/E of 49.5x FY26E EPS

780

NIRMAL BANG OFFICIAL

08 Nov, 09:07

*Bharat Bijlee Ltd.* | *CMP* Rs. 4016 | *M Cap* Rs. 4539 Cr | *52 W H/L* 5701/1713
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 394.1 Cr (5.2% QoQ, -6.1% YoY) vs QoQ Rs. 374.8 Cr, YoY Rs. 419.8 Cr
EBIDTA came at Rs. 21.7 Cr (-26.2% QoQ, -43.6% YoY) vs QoQ Rs. 29.5 Cr, YoY Rs. 38.5 Cr
EBITDA Margin came at 5.5% vs QoQ 7.9%, YoY 9.2%
Adj. PAT came at Rs. 18.8 Cr vs QoQ Rs. 23.9 Cr, YoY Rs. 27.9 Cr
Quarter EPS is Rs. 16.6
Stock is trading at P/E of 37.5x TTM EPS

730

NIRMAL BANG OFFICIAL

08 Nov, 09:06

*Vedanta Ltd.* | *CMP* Rs. 457 | *M Cap* Rs. 178705 Cr | *52 W H/L* 524/211
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 37634 Cr (5.2% QoQ, -3.4% YoY) vs expectation of Rs. 34812.1 Cr, QoQ Rs. 35764 Cr, YoY Rs. 38945 Cr
EBIDTA came at Rs. 9828 Cr (-1.2% QoQ, -14.4% YoY) vs expectation of Rs. 9312.7 Cr, QoQ Rs. 9945 Cr, YoY Rs. 11479 Cr
EBITDA Margin came at 26.1% vs expectation of 26.8%, QoQ 27.8%, YoY 29.5%
Adj. PAT came at Rs. 2484 Cr vs expectation of Rs. 2355.3 Cr, QoQ Rs. 3606 Cr, YoY Rs. -3006 Cr
Quarter EPS is Rs. 6.4
Stock is trading at 4.8x FY26 EV/EBITDA

638

NIRMAL BANG OFFICIAL

08 Nov, 08:48

*SAFARI INDUSTRIES (INDIA) LTD.* | *CMP* Rs. 2250 | *M Cap* Rs. 10996 Cr | *52 W H/L* 2700/1649
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 457.8 Cr (1.7% QoQ, 23.7% YoY) vs QoQ Rs. 450 Cr, YoY Rs. 370 Cr
EBIDTA came at Rs. 48.1 Cr (-27% QoQ, -24.2% YoY) vs QoQ Rs. 65.9 Cr, YoY Rs. 63.5 Cr
EBITDA Margin came at 10.5% vs QoQ 14.6%, YoY 17.2%
Adj. PAT came at Rs. 29.7 Cr vs QoQ Rs. 44.4 Cr, YoY Rs. 39.8 Cr
Quarter EPS is Rs. 6.1
Stock is trading at P/E of 68.7x TTM EPS

*State Bank of India Ltd.* | *CMP* Rs. 850 | *M Cap* Rs. 719011 Cr | *52 W H/L* 912/543
(Nirmal Bang Retail Research)
*Result has improved*
Higher PAT is in account of higher Other Income excluding that except NIM other parameters has shown improvement

Advances came at Rs. 3857423 Cr (15% YoY, 2.9% QoQ)
Net Interest Income came at Rs. 41620 Cr (+5% YoY) vs expectation of Rs. 41635 Cr, YoY Rs. 39500 Cr, QoQ Rs. 41125 Cr
NIM came at 3.14% vs QoQ 3.22%
Non-Interest Income came at Rs. 15271 Cr vs expectation of Rs. 11474 Cr, YoY Rs. 10791 Cr, QoQ Rs. 11162 Cr
PBP came at Rs. 29294 Cr (+28% YoY ) vs expectation of Rs. 24400 Cr, YoY Rs. 22834 Cr, QoQ Rs. 26449 Cr
Provisions came at Rs. 4506 Cr vs expectation of Rs. 4086 Cr, YoY Rs. 115 Cr, QoQ Rs. 3449 Cr
Credit Cost came at 0.5% vs QoQ 0.4%
Adj. PAT came at Rs. 18331 Cr (+3.3% YoY, +8% QoQ) vs expectation of Rs. 15829 Cr, YoY Rs. 17747 Cr, QoQ Rs. 17035 Cr
Gross NPA came at Rs. 83369 Cr vs QoQ Rs. 84226 Cr at 2.13% vs QoQ 2.21%
Net NPA came at Rs. 20294 Cr vs QoQ Rs. 21555 Cr at 0.53% vs QoQ 0.57%
Net Slippages came at Rs. 4951 Cr vs QoQ Rs. 8707 Cr at 0.51% vs QoQ 0.93%
O/s Restructured book came at Rs. 14830 Cr vs QoQ Rs. 16015 Cr at 0.38% vs QoQ 0.43%
Quarter EPS is Rs. 21
Stock is trading at P/E of 10.2x FY26E EPS & 1.5x trailing P/Adj. BV

772

NIRMAL BANG OFFICIAL

08 Nov, 08:32

*Inox India Ltd.* | *CMP* Rs. 1183 | *M Cap* Rs. 10734 Cr | *52 W H/L* 1507/802
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 306.6 Cr (3.4% QoQ, 19% YoY) vs QoQ Rs. 296.4 Cr, YoY Rs. 257.7 Cr
EBIDTA came at Rs. 63.9 Cr (-9% QoQ, 8.6% YoY) vs QoQ Rs. 70.2 Cr, YoY Rs. 58.8 Cr
EBITDA Margin came at 20.8% vs QoQ 23.7%, YoY 22.8%
Adj. PAT came at Rs. 49.5 Cr vs QoQ Rs. 52.6 Cr, YoY Rs. 46.2 Cr
Quarter EPS is Rs. 5.5
Stock is trading at P/E of 37.5x FY26E EPS

791

NIRMAL BANG OFFICIAL

08 Nov, 08:07

*Info Edge (India) Ltd.* | *CMP* Rs. 7773 | *M Cap* Rs. 100726 Cr | *52 W H/L* 8472/3972
(Nirmal Bang Retail Research)
*Result is broadly in-line with expectations*
Revenue from Operations came at Rs. 656.1 Cr (2.7% QoQ, 10.6% YoY) vs expectation of Rs. 662.6 Cr, QoQ Rs. 638.9 Cr, YoY Rs. 593 Cr
EBIDTA came at Rs. 274.4 Cr (10% QoQ, 13.8% YoY) vs expectation of Rs. 269.2 Cr, QoQ Rs. 249.5 Cr, YoY Rs. 241.1 Cr
EBITDA Margin came at 41.8% vs expectation of 40.6%, QoQ 39%, YoY 40.7%
Adj. PAT came at Rs. -22.2 Cr vs expectation of Rs. 243.4 Cr, QoQ Rs. 232.3 Cr, YoY Rs. 213.7 Cr
PAT is negative on account of Higher Tax
Quarter EPS is Rs. -1.7
Stock is trading at P/E of 80.5x FY26E EPS

*AMBIKA COTTON MILLS LTD.* | *CMP* Rs. 1558 | *M Cap* Rs. 892 Cr | *52 W H/L* 2198/1386
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 200.4 Cr (-4.2% QoQ, 0.5% YoY) vs QoQ Rs. 209.1 Cr, YoY Rs. 199.4 Cr
EBIDTA came at Rs. 23.4 Cr (-30.9% QoQ, -11.5% YoY) vs QoQ Rs. 33.9 Cr, YoY Rs. 26.5 Cr
EBITDA Margin came at 11.7% vs QoQ 16.2%, YoY 13.3%
Adj. PAT came at Rs. 14.1 Cr vs QoQ Rs. 21.5 Cr, YoY Rs. 13.1 Cr
Quarter EPS is Rs. 24.6
Stock is trading at P/E of 13.8x TTM EPS

937

NIRMAL BANG OFFICIAL

08 Nov, 08:07

1-2 DAYS Technical call Buy LAURASLAB above 504.20 with SL 494 Target 524 (ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

860

NIRMAL BANG OFFICIAL

08 Nov, 08:05

1-2 DAYS Technical call Buy LAURASLAB above 504.20 with SL 494 Target 524 (ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

881

NIRMAL BANG OFFICIAL

08 Nov, 08:04

CHINA'S TOP LAWMAKERS APPROVE LOCAL GOVT DEBT SWAP PLAN

876

NIRMAL BANG OFFICIAL

08 Nov, 08:02

*Vimta Labs Ltd.* | *CMP* Rs. 665 | *M Cap* Rs. 1474 Cr | *52 W H/L* 700/390
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 84.7 Cr (13.2% QoQ, 29.3% YoY) vs QoQ Rs. 74.9 Cr, YoY Rs. 65.5 Cr
EBIDTA came at Rs. 29.9 Cr (15.3% QoQ, 71.8% YoY) vs QoQ Rs. 25.9 Cr, YoY Rs. 17.4 Cr
EBITDA Margin came at 35.3% vs QoQ 34.6%, YoY 26.6%
Adj. PAT came at Rs. 15.2 Cr vs QoQ Rs. 12.3 Cr, YoY Rs. 6.3 Cr
Quarter EPS is Rs. 6.9
Stock is trading at P/E of 29.5x TTM EPS

896

NIRMAL BANG OFFICIAL

08 Nov, 08:01

*Ashok Leyland Ltd.* | *CMP* Rs. 218 | *M Cap* Rs. 63941 Cr | *52 W H/L* 265/158
(Nirmal Bang Retail Research)
No. of Vehicles Sold 45624 vs QoQ 43893,YoY 49846
*Result is above expectations*
Revenue from Operations came at Rs. 8768.8 Cr (2% QoQ, -9% YoY) vs expectation of Rs. 9032.2 Cr, QoQ Rs. 8598.5 Cr, YoY Rs. 9638 Cr
EBIDTA came at Rs. 1074.2 Cr (17.9% QoQ, -0.5% YoY) vs expectation of Rs. 998.4 Cr, QoQ Rs. 910.9 Cr, YoY Rs. 1079.8 Cr
EBITDA Margin came at 12.3% vs expectation of 11.1%, QoQ 10.6%, YoY 11.2%
Adj. PAT came at Rs. 652.7 Cr vs expectation of Rs. 585.9 Cr, QoQ Rs. 525.6 Cr, YoY Rs. 583.9 Cr
Quarter EPS is Rs. 2.2
Stock is trading at P/E of 18x FY26E EPS

860

NIRMAL BANG OFFICIAL

08 Nov, 07:58

*Latent View Analytics Ltd.* | *CMP* Rs. 475 | *M Cap* Rs. 9785 Cr | *52 W H/L* 575/395
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 209 Cr (16.8% QoQ, 34.2% YoY) vs QoQ Rs. 178.9 Cr, YoY Rs. 155.7 Cr
EBIDTA came at Rs. 45.3 Cr (18.3% QoQ, 47% YoY) vs QoQ Rs. 38.3 Cr, YoY Rs. 30.8 Cr
EBITDA Margin came at 21.7% vs QoQ 21.4%, YoY 19.8%
Adj. PAT came at Rs. 39.9 Cr vs QoQ Rs. 38.9 Cr, YoY Rs. 34 Cr
Quarter EPS is Rs. 1.9
Stock is trading at P/E of 57.4x TTM EPS

907

NIRMAL BANG OFFICIAL

08 Nov, 07:57

*Mrs. Bectors Food Specialities Ltd.* | *CMP* Rs. 1811 | *M Cap* Rs. 11119 Cr | *52 W H/L* 2200/963
(Nirmal Bang Retail Research)
*Result is broadly in-line with expectations*
Revenue from Operations came at Rs. 496.3 Cr (12.9% QoQ, 19.7% YoY) vs expectation of Rs. 481.4 Cr, QoQ Rs. 439.4 Cr, YoY Rs. 414.5 Cr
EBIDTA came at Rs. 70.5 Cr (10.1% QoQ, 9% YoY) vs expectation of Rs. 72.9 Cr, QoQ Rs. 64 Cr, YoY Rs. 64.7 Cr
EBITDA Margin came at 14.2% vs expectation of 15.1%, QoQ 14.6%, YoY 15.6%
Adj. PAT came at Rs. 38.9 Cr vs expectation of Rs. 41.1 Cr, QoQ Rs. 35.4 Cr, YoY Rs. 37.3 Cr
Quarter EPS is Rs. 6.3
Stock is trading at P/E of 53.6x FY26E EPS

882

NIRMAL BANG OFFICIAL

08 Nov, 07:10

CHINA NPC BUDGET COMMITTEEE,FIN MIN TO HOLD BRIEFING AT 1.30 PM IST

1,147

NIRMAL BANG OFFICIAL

08 Nov, 07:03

*MRF Ltd.* | *CMP* Rs. 119258 | *M Cap* Rs. 50579 Cr | *52 W H/L* 151445/107008
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 6760.4 Cr (-4.5% QoQ, 11.1% YoY) vs expectation of Rs. 6858 Cr, QoQ Rs. 7077.8 Cr, YoY Rs. 6087.6 Cr
EBIDTA came at Rs. 973.4 Cr (-14.5% QoQ, -13.8% YoY) vs expectation of Rs. 931.7 Cr, QoQ Rs. 1137.8 Cr, YoY Rs. 1128.7 Cr
EBITDA Margin came at 14.4% vs expectation of 13.6%, QoQ 16.1%, YoY 18.5%
Adj. PAT came at Rs. 455.4 Cr vs expectation of Rs. 423.5 Cr, QoQ Rs. 562.6 Cr, YoY Rs. 571.9 Cr
Quarter EPS is Rs. 1073.8
Stock is trading at P/E of 22.1x FY26E EPS

1,189

NIRMAL BANG OFFICIAL

08 Nov, 06:38

SAMHI Hotels Limited, has, on 07 November 2024, completed the execution of a Lease Deed with respect to a ready building with ~270,000 sq. ft. of Built-up Area in Hitec City, Hyderabad. The transaction is being done on a long-term variable lease
model.
The Company proposes to complete the fit-outs to convert the existing office building into an Upper Upscale hotel with 170-175 rooms in Hitec City, Hyderabad,
Positive

*The India Cements Ltd.* | *CMP* Rs. 354 | *M Cap* Rs. 10970 Cr | *52 W H/L* 386/173
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 1031.8 Cr (0.5% QoQ, -18.4% YoY) vs QoQ Rs. 1026.8 Cr, YoY Rs. 1264.4 Cr
EBIDTA came at Rs. -162.7 Cr (559.6% QoQ, -3790% YoY) vs QoQ Rs. -24.7 Cr, YoY Rs. 4.4 Cr
EBITDA Margin came at -15.8% vs QoQ -2.4%, YoY 0.3%
Adj. PAT came at Rs. -115.9 Cr vs QoQ Rs. -182.2 Cr, YoY Rs. -80.1 Cr
Quarter EPS is Rs. -3.7
Stock is trading at P/E of -27.4x TTM EPS

1,359

NIRMAL BANG OFFICIAL

08 Nov, 05:30

RAILTEL WINS ORDER OF RS 170 CRORE

1,408

NIRMAL BANG OFFICIAL

29 Oct, 13:54

SL HIT - ( BUY CRUDEOIL 5753-5743 SL BELOW 5690 TG 5840-5860 )

BOOK PROFIT 98544-98580 _- ( BUY SILVER M NOV AT 97625-97575 SL BELOW 96500 TARGET 99000-99500 )

777

NIRMAL BANG OFFICIAL

29 Oct, 13:08

BUY COPPER BET 843.5-842.5 SL BELOW 837 TGT 851-53.4

924

NIRMAL BANG OFFICIAL

29 Oct, 13:00

BUY NG 240.40-239.40 SL BELOW 235 Tg 246-248

950

NIRMAL BANG OFFICIAL

29 Oct, 09:49

*Engineers India Ltd.* | *CMP* Rs. 179 | *M Cap* Rs. 10061 Cr | *52 W H/L* 304/116
(Nirmal Bang Retail Research)
*Result below Expectation*
Revenue from Operations came at Rs. 676.4 Cr (10.8% QoQ, -13% YoY) vs expectation of Rs. 795.9 Cr, QoQ Rs. 610.6 Cr, YoY Rs. 777.2 Cr
EBIDTA came at Rs. 57.2 Cr (23.2% QoQ, -39.9% YoY) vs expectation of Rs. 88.1 Cr, QoQ Rs. 46.4 Cr, YoY Rs. 95.2 Cr
EBITDA Margin came at 8.5% vs expectation of 11.1%, QoQ 7.6%, YoY 12.2%
Adj. PAT came at Rs. 79.1 Cr vs expectation of Rs. 92.5 Cr, QoQ Rs. 54.8 Cr, YoY Rs. 102.2 Cr
Quarter EPS is Rs. 1.4
Stock is trading at P/E of 18.7x FY26E EPS

1,335

NIRMAL BANG OFFICIAL

29 Oct, 09:43

*Deepak Fertilisers And Petrochemicals Corporation Ltd.* | *CMP* Rs. 1193 | *M Cap* Rs. 15065 Cr | *52 W H/L* 1200/450
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 2746.7 Cr (20.4% QoQ, 13.3% YoY) vs expectation of Rs. 2450.6 Cr, QoQ Rs. 2281.3 Cr, YoY Rs. 2424.2 Cr
EBIDTA came at Rs. 494.2 Cr (6.4% QoQ, 72.8% YoY) vs expectation of Rs. 402.9 Cr, QoQ Rs. 464.4 Cr, YoY Rs. 286.1 Cr
EBITDA Margin came at 18% vs expectation of 16.4%, QoQ 20.4%, YoY 11.8%
Adj. PAT came at Rs. 210.1 Cr vs expectation of Rs. 137.7 Cr, QoQ Rs. 195.6 Cr, YoY Rs. 60.1 Cr
Quarter EPS is Rs. 16.6
Stock is trading at P/E of 16.5x FY26E EPS

1,395

NIRMAL BANG OFFICIAL

29 Oct, 09:38

*Adani Enterprises Ltd.* | *CMP* Rs. 2829 | *M Cap* Rs. 326552 Cr | *52 W H/L* 3744/2142
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 22608.1 Cr (-11.2% QoQ, 0.4% YoY) vs QoQ Rs. 25472.4 Cr, YoY Rs. 22517.3 Cr
EBIDTA came at Rs. 3765.8 Cr (-0.1% QoQ, 48.6% YoY) vs QoQ Rs. 3768.1 Cr, YoY Rs. 2533.6 Cr
EBITDA Margin came at 16.7% vs QoQ 14.8%, YoY 11.3%
Adj. PAT came at Rs. 1741.8 Cr vs QoQ Rs. 1454.5 Cr, YoY Rs. 315.8 Cr
Quarter EPS is Rs. 15.1
Stock is trading at P/E of 34.9x FY26E EPS

1,253

NIRMAL BANG OFFICIAL

29 Oct, 09:01

1-2 DAYS Technical Call book partial profit in AEGISLOG @771-772 Target 800 , BUY call initiated 759.7 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,235

NIRMAL BANG OFFICIAL

29 Oct, 08:38

*PCBL Ltd.* | *CMP* Rs. 446 | *M Cap* Rs. 16816 Cr | *52 W H/L* 585/189
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 2163.2 Cr (0.9% QoQ, 45.5% YoY) vs expectation of Rs. 2163.6 Cr, QoQ Rs. 2143.6 Cr, YoY Rs. 1486.7 Cr
EBIDTA came at Rs. 363.5 Cr (1.5% QoQ, 52.7% YoY) vs expectation of Rs. 346.1 Cr, QoQ Rs. 358.3 Cr, YoY Rs. 238.1 Cr
EBITDA Margin came at 16.8% vs expectation of 16%, QoQ 16.7%, YoY 16%
Adj. PAT came at Rs. 123.4 Cr vs expectation of Rs. 124.8 Cr, QoQ Rs. 118 Cr, YoY Rs. 122.6 Cr
Quarter EPS is Rs. 3.3
Stock is trading at P/E of 20.7x FY26E EPS

*Vedant Fashions Ltd.* | *CMP* Rs. 1275 | *M Cap* Rs. 30971 Cr | *52 W H/L* 1488/886
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 267.5 Cr (11.6% QoQ, 22.6% YoY) vs expectation of Rs. 244 Cr, QoQ Rs. 239.8 Cr, YoY Rs. 218.3 Cr
EBIDTA came at Rs. 121.7 Cr (8% QoQ, 31.2% YoY) vs expectation of Rs. 107.5 Cr, QoQ Rs. 112.7 Cr, YoY Rs. 92.8 Cr
EBITDA Margin came at 45.5% vs expectation of 44%, QoQ 47%, YoY 42.5%
Adj. PAT came at Rs. 66.4 Cr vs expectation of Rs. 53.2 Cr, QoQ Rs. 62.5 Cr, YoY Rs. 48.7 Cr
Quarter EPS is Rs. 2.7
Stock is trading at P/E of 57.3x FY26E EPS

1,259

NIRMAL BANG OFFICIAL

29 Oct, 08:23

*V-Guard Industries Ltd.* | *CMP* Rs. 417 | *M Cap* Rs. 18133 Cr | *52 W H/L* 577/282
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Revenue from Operations came at Rs. 1294 Cr (-12.4% QoQ, 14.1% YoY) vs expectation of Rs. 1258.6 Cr, QoQ Rs. 1477.1 Cr, YoY Rs. 1133.8 Cr
EBIDTA came at Rs. 110.3 Cr (-29.2% QoQ, 19.2% YoY) vs expectation of Rs. 117.7 Cr, QoQ Rs. 155.8 Cr, YoY Rs. 92.5 Cr
EBITDA Margin came at 8.5% vs expectation of 9.4%, QoQ 10.5%, YoY 8.2%
Adj. PAT came at Rs. 63.4 Cr vs expectation of Rs. 71.6 Cr, QoQ Rs. 99 Cr, YoY Rs. 59 Cr
Quarter EPS is Rs. 1.5
Stock is trading at P/E of 41x FY26E EPS

1,141

NIRMAL BANG OFFICIAL

29 Oct, 08:17

*Kirloskar Brothers Ltd.* | *CMP* Rs. 1791 | *M Cap* Rs. 14223 Cr | *52 W H/L* 2685/803
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 1035.8 Cr (0.5% QoQ, 13.4% YoY) vs QoQ Rs. 1030.9 Cr, YoY Rs. 913.1 Cr
EBIDTA came at Rs. 142.1 Cr (27.2% QoQ, 49.9% YoY) vs QoQ Rs. 111.7 Cr, YoY Rs. 94.8 Cr
EBITDA Margin came at 13.7% vs QoQ 10.8%, YoY 10.4%
Adj. PAT came at Rs. 95.7 Cr vs QoQ Rs. 65.1 Cr, YoY Rs. 50.4 Cr
Quarter EPS is Rs. 12.1
Stock is trading at P/E of 36.2x TTM EPS

1,168

NIRMAL BANG OFFICIAL

29 Oct, 08:16

*Maruti Suzuki India Ltd.* | *CMP* Rs. 11194 | *M Cap* Rs. 351931 Cr | *52 W H/L* 13680/9738
(Nirmal Bang Retail Research)
No. of Vehicles Sold 5.41 lakh vs QoQ 5.21 lakh, YoY 5.52 lakh
*Result is below expectations*
Revenue from Operations came at Rs. 37202.8 Cr (4.7% QoQ, 0.4% YoY) vs expectation of Rs. 37229 Cr, QoQ Rs. 35531.4 Cr, YoY Rs. 37062.1 Cr
EBIDTA came at Rs. 4416.6 Cr (-1.9% QoQ, -7.7% YoY) vs expectation of Rs. 4712.1 Cr, QoQ Rs. 4502.3 Cr, YoY Rs. 4784.2 Cr
EBITDA Margin came at 11.9% vs expectation of 12.7%, QoQ 12.7%, YoY 12.9%
Adj. PAT came at Rs. 3069.2 Cr vs expectation of Rs. 3674.2 Cr, QoQ Rs. 3649.9 Cr, YoY Rs. 3716.5 Cr
Quarter EPS is Rs. 97.6
Stock is trading at P/E of 20.9x FY26E EPS

973

NIRMAL BANG OFFICIAL

29 Oct, 08:06

*Apar Industries Ltd.* | *CMP* Rs. 9249 | *M Cap* Rs. 37152 Cr | *52 W H/L* 11025/4546
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 4644.5 Cr (15.8% QoQ, 18.3% YoY) vs expectation of Rs. 4423.7 Cr, QoQ Rs. 4010.5 Cr, YoY Rs. 3926 Cr
EBIDTA came at Rs. 356.5 Cr (-5.1% QoQ, 1.9% YoY) vs expectation of Rs. 320 Cr, QoQ Rs. 375.6 Cr, YoY Rs. 349.8 Cr
EBITDA Margin came at 7.7% vs expectation of 7.2%, QoQ 9.4%, YoY 8.9%
Adj. PAT came at Rs. 193.9 Cr vs expectation of Rs. 152 Cr, QoQ Rs. 202.5 Cr, YoY Rs. 173.9 Cr
Quarter EPS is Rs. 48.3
Stock is trading at P/E of 34.9x FY26E EPS

1,024

NIRMAL BANG OFFICIAL

29 Oct, 08:00

*Canara Bank Ltd.* | *CMP* Rs. 102 | *M Cap* Rs. 95088 Cr | *52 W H/L* 129/68
(Nirmal Bang Retail Research)
*Result is marginally above expectations*

Advances came at Rs. 1011997 Cr (10% YoY, 3.8% QoQ)
Net Interest Income came at Rs. 9315 Cr vs expectation of Rs. 9399 Cr, YoY Rs. 8903 Cr, QoQ Rs. 9166 Cr
NIM came at 2.88% vs QoQ 2.9%
Non Interest Income came at Rs. 4981 Cr vs expectation of Rs. 4791 Cr, YoY Rs. 4635 Cr, QoQ Rs. 5319 Cr
PBP came at Rs. 7654 Cr vs expectation of Rs. 6947 Cr, YoY Rs. 7616 Cr, QoQ Rs. 7615 Cr
Provisions came at Rs. 2251 Cr vs expectation of Rs. 2108 Cr, YoY Rs. 2608 Cr, QoQ Rs. 2282 Cr
Credit Cost came at 0.9% vs QoQ 0.9% & YoY 1.1%
Adj. PAT came at Rs. 4015 Cr vs expectation of Rs. 3798 Cr, YoY Rs. 3606 Cr, QoQ Rs. 3905 Cr
Gross NPA came at Rs. 37733 Cr vs QoQ Rs. 40356 Cr at 3.73% vs QoQ 4.14%
Net NPA came at Rs. 9777 Cr vs QoQ Rs. 11702 Cr at 0.99% vs QoQ 1.24%
Slippages came at Rs. 2345 Cr vs QoQ Rs. 3337 Cr at 0.93% vs QoQ 1.37%
SMA 0,1,2 came at Rs. 14944 Cr vs QoQ Rs. 11048 Cr at 1.48% vs QoQ 1.13%
Quarter EPS is Rs. 22
Stock is trading at P/E of 5x FY26E EPS & 0.2x trailing P/Adj. BV

1,102

NIRMAL BANG OFFICIAL

29 Oct, 07:56

*Adani Ports and Special Economic Zone Ltd.* | *CMP* Rs. 1366 | *M Cap* Rs. 295010 Cr | *52 W H/L* 1621/755
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 7067 Cr (-6.5% QoQ, 6.3% YoY) vs expectation of Rs. 7267.2 Cr, QoQ Rs. 7559.6 Cr, YoY Rs. 6646.4 Cr
EBIDTA came at Rs. 4368.9 Cr (-9.9% QoQ, 7.2% YoY) vs expectation of Rs. 4372.2 Cr, QoQ Rs. 4847.8 Cr, YoY Rs. 4075.7 Cr
EBITDA Margin came at 61.8% vs expectation of 60.2%, QoQ 64.1%, YoY 61.3%
Adj. PAT came at Rs. 2496.8 Cr vs expectation of Rs. 2601.3 Cr, QoQ Rs. 3258.3 Cr, YoY Rs. 2203 Cr
Quarter EPS is Rs. 11.6
Stock is trading at P/E of 23.8x FY26E EPS

1,132

NIRMAL BANG OFFICIAL

29 Oct, 07:55

*Blue Jet Healthcare Ltd.* | *CMP* Rs. 490 | *M Cap* Rs. 8691 Cr | *52 W H/L* 553/319
(Nirmal Bang Retail Research)
*Result below Expectation*
Revenue from Operations came at Rs. 208.3 Cr (27.8% QoQ, 14.8% YoY) vs expectation of Rs. 237.9 Cr, QoQ Rs. 162.9 Cr, YoY Rs. 181.4 Cr
EBIDTA came at Rs. 69.5 Cr (57% QoQ, 11% YoY) vs expectation of Rs. 80.4 Cr, QoQ Rs. 44.3 Cr, YoY Rs. 62.6 Cr
EBITDA Margin came at 33.4% vs expectation of 33.8%, QoQ 27.2%, YoY 34.5%
Adj. PAT came at Rs. 58.4 Cr vs expectation of Rs. 62.7 Cr, QoQ Rs. 37.8 Cr, YoY Rs. 47.9 Cr
Quarter EPS is Rs. 3.4
Stock is trading at P/E of 33.3x FY26E EPS

1,250

NIRMAL BANG OFFICIAL

29 Oct, 07:36

1-2 DAYS Technical Call book partial profit in CUMMINSIND @3475-3480 Target 3620 , BUY call initiated 3408.4 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,242

NIRMAL BANG OFFICIAL

29 Oct, 07:25

1-2 DAYS Technical call Buy AEGISLOG above 759.7 with Stop Loss 746 Target 800 (ANALYST VIKAS). Visit our website for disclosure. (Nirmal Bang).

1,336

NIRMAL BANG OFFICIAL

29 Oct, 07:21

ASIANPAINT SL TRIGGER @2950 Visit our website for disclosure. (Nirmal Bang).

1,375

NIRMAL BANG OFFICIAL

29 Oct, 07:17

Intraday Derivatives Call Target Achieved in BANKNIFTY 30OCT 51500 CE at 340, Call initiated at 190 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,494

NIRMAL BANG OFFICIAL

29 Oct, 06:34

1-2 DAYS Technical Call Buy KARURVYSYA above 222.4 with Stop Loss 216 Target 234(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,411

NIRMAL BANG OFFICIAL

26 Oct, 07:49

*Bank of Baroda Ltd.* | *CMP* Rs. 240 | *M Cap* Rs. 126931 Cr | *52 W H/L* 300/188
(Nirmal Bang Retail Research)
*Result is inline with Expectations*
Advances came at Rs. 1143039 Cr (12% YoY, 6.7% QoQ)
Net Interest Income came at Rs. 11622 Cr vs expectation of Rs. 11772 Cr, YoY Rs. 10831 Cr, QoQ Rs. 11600 Cr
NIM came at 3.1% vs QoQ 3.18%
Non Interest Income came at Rs. 5181 Cr vs expectation of Rs. 3129 Cr, YoY Rs. 4171 Cr, QoQ Rs. 2487 Cr
PBP came at Rs. 9477 Cr vs expectation of Rs. 7933 Cr, YoY Rs. 8020 Cr, QoQ Rs. 7161 Cr
Provisions came at Rs. 2336 Cr vs expectation of Rs. 1516 Cr, YoY Rs. 2161 Cr, QoQ Rs. 1011 Cr
Credit Cost came at 0.8% vs QoQ 0.4% & YoY 0.8%
Adj. PAT came at Rs. 5238 Cr vs expectation of Rs. 4433 Cr, YoY Rs. 4253 Cr, QoQ Rs. 4458 Cr
Gross NPA came at Rs. 28551 Cr vs QoQ Rs. 30873 Cr at 2.5% vs QoQ 2.88%
Net NPA came at Rs. 6764 Cr vs QoQ Rs. 7232 Cr at 0.6% vs QoQ 0.69%
Slippages came at Rs. 3110 Cr vs QoQ Rs. 3018 Cr at 1.09% vs QoQ 1.13%
Quarter EPS is Rs. 10
Stock is trading at P/E of 6.3x FY26E EPS & 1x trailing P/Adj. BV

*CreditAccess Grameen Ltd. - C* | *CMP* Rs. 982 | *M Cap* Rs. 16823 Cr | *52 W H/L* 1796/1050
(Nirmal Bang Retail Research)
*Result is below expectations*
AUM came at Rs. 25133 Cr (12% YoY, -4.5% QoQ)
Disbursement came at Rs. 4404 Cr vs YoY Rs. 4966 Cr, QoQ Rs. 4476 Cr
NII came at Rs. 933.1 Cr vs YoY Rs. 763.5 Cr, QoQ Rs. 926.8 Cr
NIM came at 13.5% vs QoQ 13%
PBP came at Rs. 672.8 Cr vs expectation of Rs. 691.4 Cr, YoY Rs. 562.6 Cr, QoQ Rs. 709.3 Cr
Provision came at Rs. 420.2 Cr vs expectation of Rs. 252.4 Cr, YoY Rs. 95.9 Cr, QoQ Rs. 174.6 Cr
Credit Cost came at 6.7% vs YoY 1.7%, QoQ 2.7%
PAT came at Rs. 186.7 Cr vs expectation of Rs. 358.1 Cr, YoY Rs. 347 Cr, QoQ Rs. 397.7 Cr
GNPA came at 2.44% vs QoQ 1.46%
NNPA came at 0.76% vs QoQ 0.45%
Quarter EPS is Rs. 11.7
Stock is trading at P/E of 8.2x FY26E EPS & 3.6x trailing P/BV

*Bandhan Bank Ltd.* | *CMP* Rs. 168 | *M Cap* Rs. 31575 Cr | *52 W H/L* 263/169
(Nirmal Bang Retail Research)
*Result is declining*
Advances came at Rs. 130652 Cr (21% YoY, 4% QoQ)
Net Interest Income came at Rs. 2948 Cr vs YoY Rs. 2443 Cr, QoQ Rs. 3005 Cr
NIM came at 7.4% vs QoQ 7.6%
Non Interest Income came at Rs. 595 Cr vs YoY Rs. 540 Cr, QoQ Rs. 528 Cr
PBP came at Rs. 1855 Cr vs expectation of Rs. 1927 Cr, YoY Rs. 1583 Cr, QoQ Rs. 1941 Cr
Provisions came at Rs. 606 Cr vs expectation of Rs. 703 Cr, YoY Rs. 636 Cr, QoQ Rs. 523 Cr
Credit Cost came at 1.9% vs YoY 2.4%, QoQ 1.7%
Adj. PAT came at Rs. 937 Cr vs expectation of Rs. 900 Cr, YoY Rs. 721 Cr, QoQ Rs. 1063 Cr
Gross NPA came at Rs. 6105.3 Cr vs QoQ Rs. 5304.4 Cr at 4.68% vs QoQ 4.23%
Net NPA came at Rs. 1620 Cr vs QoQ Rs. 1396 Cr at 1.29% vs QoQ 1.15%
Slippages came at Rs. 1110 Cr vs QoQ Rs. 890 Cr with slippage ratio of 3.4% vs QoQ 2.83%
Quarter EPS is Rs. 5.8
Stock is trading at P/E 6.2x FY26E EPS and trailing P/Adj BV of 1.2x

*IDBI Bank Ltd. * | *CMP* Rs. 83 | *M Cap* Rs. 89331 Cr | *52 W H/L* 108/60
(Nirmal Bang Retail Research)
*Result improved*
Advances came at Rs. 200944 Cr (19% YoY, 3.6% QoQ)
Net Interest Income came at Rs. 3875 Cr vs YoY Rs. 3066 Cr, QoQ Rs. 3233 Cr
NIM came at 4.87% vs QoQ 4.18%
Non Interest Income came at Rs. 1313 Cr vs YoY Rs. 889 Cr, QoQ Rs. 805 Cr
PBP came at Rs. 3006 Cr vs YoY Rs. 2072 Cr, QoQ Rs. 2076 Cr
Provisions came at Rs. 555 Cr vs YoY Rs. -227 Cr, QoQ Rs. -443 Cr
Adj. PAT came at Rs. 1836 Cr vs YoY Rs. 1323 Cr, QoQ Rs. 1719 Cr
Gross NPA came at Rs. 7653 Cr vs QoQ Rs. 7795 Cr at 3.68% vs QoQ 3.87%
Net NPA came at Rs. 402 Cr vs QoQ Rs. 454 Cr at 0.2% vs QoQ 0.23%
Slippages came at Rs. 0 Cr vs QoQ Rs. 0 Cr at 0% vs QoQ 0%
Quarter EPS is Rs. 1.7

516

NIRMAL BANG OFFICIAL

26 Oct, 07:49

*Shilchar Technologies Q2FY25 Concall Update*
(Nirmal Bang Securities)

*# Guidance maintained at Rs. 550 Cr for FY25 & Rs. 750-800cr for FY26*
*# Demand is expected to remain robust for next 4-5 years*
*# Co will take a call in Dec/Jan regarding further expansion beyond 7500 MVA*

*Outlook: Positive; we remain bullish on the co and recommend to accumulate the stock on declines*

• Contribution of IDT (invertor duty transformer) has remained at 60% mix.
• There is one to one correlation of increase in Renewable capacity and demand of IDT capacity.
• Co mainly caters to 33 & 66 kV class in solar.
• No plan to enter higher kV transformers.
• Per MVA realisation remains at Rs. 10 Lacs
• BIS approval is a must now for CRGO imports; no issue in sourcing CRGO faced by the co.
• Renewable mix in sales remains at 60%
• 45% of sales comes from exports to NA, Middle East.
• New capacity of 3500 MVA was started in Sep 2024.
• Co can go upto 25k MVA capacity at existing plant.
• Once co decides to set up additional capacity; it can commence production in 1 year.
• As soon as the co gets an order, it books the RM so there is no RM price risk.
• Competitive intensity in the 66 kV and lower segment: There are 15 suppliers in the organised market and another 20-25 in unorg. market who cater to very small solar plants.

Stock is trading at 31x FY26E EPS

*Finolex industries Q2FY25 Concall update*
(Nirmal bang retail research)
*Outlook: Neutral*
1. Result was muted and below expectations wherein Revenues declined 27% QoQ and 6% YoY to Rs.828 crore. Volume increased by 9% Y-o-Y, however, declined 32% QoQ to 1,09,577 MT.
2. EBITDA declined 89% YoY, 95% QoQ to Rs.10.6 crore due to extreme volatility in PVC prices and extended monsoon season.
3. *Segments*
a. Pipe and fitting - Revenue declined by 3.57% Y-o-Y to 819.60 cr and volume increased by 10.22% Y-o-Y TO 69,341 MT
b. PVC Resin - Revenue increased by 4% Y-o-Y to 308.5 cr and volume increased by 7.25% to 40,236 MT
4. Co’s performance primarily affected due to changes in the pvc prices in a shorter span of time. Prices varied from Rs.96 to Rs 76 between June to sep affecting revenues and consequently reduction in our overall margin, however PVC prices had stabilized in the INR76 range and with that performance is expected to improve.
5. The company has a pipe production capacity of 420,000 MT and is adding an additional 40,000 to 50,000 MT within its existing facilities, which will be operational by Q4FY25 at an investment of ~ 150 cr.
6. Company has revised its volume growth guidance to a range of 10% to 12% for FY25 from earlier 15%.
*Stock is trading at P/E of 25.5x FY26E EPS.*

*Intellect Design Arena Ltd.* | *CMP* Rs. 759 | *M Cap* Rs. 10488 Cr | *52 W H/L* 1199/620
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 556 Cr (-8.3% QoQ, -10.2% YoY) vs QoQ Rs. 606.3 Cr, YoY Rs. 619 Cr
EBIDTA came at Rs. 78.8 Cr (-34.7% QoQ, -35.4% YoY) vs QoQ Rs. 120.7 Cr, YoY Rs. 121.9 Cr
EBITDA Margin came at 14.2% vs QoQ 19.9%, YoY 19.7%
Adj. PAT came at Rs. 52.8 Cr vs QoQ Rs. 74.5 Cr, YoY Rs. 70.4 Cr
Quarter EPS is Rs. 3.8
Stock is trading at P/E of 20.2x FY26E EPS

*Aegis Logistics Ltd.* | *CMP* Rs. 748 | *M Cap* Rs. 26241 Cr | *52 W H/L* 970/280
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 1750.4 Cr (9.3% QoQ, 41.8% YoY) vs expectation of Rs. 1950.7 Cr, QoQ Rs. 1601.3 Cr, YoY Rs. 1234.9 Cr
EBIDTA came at Rs. 223.9 Cr (-3.6% QoQ, 7.5% YoY) vs expectation of Rs. 280.8 Cr, QoQ Rs. 232.3 Cr, YoY Rs. 208.3 Cr
EBITDA Margin came at 12.8% vs expectation of 14.4%, QoQ 14.5%, YoY 16.9%
Adj. PAT came at Rs. 126 Cr vs expectation of Rs. 157 Cr, QoQ Rs. 131.5 Cr, YoY Rs. 127 Cr
Quarter EPS is Rs. 3.6
Stock is trading at P/E of 30.4x FY26E EPS

485

NIRMAL BANG OFFICIAL

26 Oct, 07:43

*Inox Wind Ltd.* | *CMP* Rs. 203 | *M Cap* Rs. 26467 Cr | *52 W H/L* 262/47
(Nirmal Bang Retail Research)
*Result has improved*
Order Book came at 3328MW vs qoq 2656MW yoy 1276MW
Revenue from Operations came at Rs. 732.2 Cr (14.6% QoQ, 97.6% YoY) vs QoQ Rs. 638.8 Cr, YoY Rs. 370.6 Cr
EBIDTA came at Rs. 172.9 Cr (27.1% QoQ, 257.8% YoY) vs QoQ Rs. 136.1 Cr, YoY Rs. 48.3 Cr
EBITDA Margin came at 23.6% vs QoQ 21.3%, YoY 13%
Adj. PAT came at Rs. 92.9 Cr vs QoQ Rs. 51.8 Cr, YoY Rs. -24.4 Cr
Quarter EPS is Rs. 0.7
Stock is trading at P/E of 33.7x FY26E EPS

*Praj Industries Ltd.* | *CMP* Rs. 713 | *M Cap* Rs. 13103 Cr | *52 W H/L* 827/448
(Nirmal Bang Retail Research)
Order intake during the quarter Rs. 921 Cr vs (QoQ Rs. 888 Cr, YoY Rs. 1063 Cr)
*Result ok*
Revenue from Operations came at Rs. 816.2 Cr (16.7% QoQ, -7.5% YoY) vs QoQ Rs. 699.1 Cr, YoY Rs. 882.4 Cr
EBIDTA came at Rs. 86.2 Cr (-0.7% QoQ, 10.7% YoY) vs QoQ Rs. 86.8 Cr, YoY Rs. 77.9 Cr
EBITDA Margin came at 10.6% vs QoQ 12.4%, YoY 8.8%
Adj. PAT came at Rs. 53.8 Cr vs QoQ Rs. 56 Cr, YoY Rs. 62.4 Cr
Quarter EPS is Rs. 2.9
Stock is trading at P/E of 30.3x FY26E EPS

487

NIRMAL BANG OFFICIAL

25 Oct, 17:37

BTST BUY CRUDE BET 6035-25 SL BELOW 5960 TGT 6130-55

1,106

NIRMAL BANG OFFICIAL

25 Oct, 15:33

BTST OPTION BUY SILVER98K CE 3500-3450 SL BELOW 3100 TG 4100-4300

1,308

NIRMAL BANG OFFICIAL

25 Oct, 13:54

Buy ALUMINIUM BET 242.3-242 SL BELOW 240 TGT 245.2-246

1,506

NIRMAL BANG OFFICIAL

25 Oct, 13:31

TARGET ACHIEVED-( Buy ZINC BET 284.6-284.3 SL BELOW 282.5 TGT 286.8-287.7)

1,514

NIRMAL BANG OFFICIAL

25 Oct, 11:29

Buy ZINC BET 284.6-284.3 SL BELOW 282.5 TGT 286.8-287.7

1,683

NIRMAL BANG OFFICIAL

25 Oct, 10:37

Option BUY NATGASCE250 bt 20.2-19.6 SL BELOW 16 TGT 24.6-26

1,745

NIRMAL BANG OFFICIAL

25 Oct, 09:44

*Jammu & Kashmir Bank Ltd.* | *CMP* Rs. 97 | *M Cap* Rs. 10772 Cr | *52 W H/L* 153/95
(Nirmal Bang Retail Research)
*Result has improved*
Net Interest Income came at Rs. 1435.9 Cr vs YoY Rs. 1333.8 Cr, QoQ Rs. 1369.2 Cr
Non Interest Income came at Rs. 296.1 Cr vs YoY Rs. 190.3 Cr, QoQ Rs. 194.1 Cr
PBP came at Rs. 787 Cr vs YoY Rs. 534.5 Cr, QoQ Rs. 594.7 Cr
Provisions came at Rs. 32.5 Cr vs YoY Rs. -9.9 Cr, QoQ Rs. -17.5 Cr
Credit Cost came at 0.1% vs YoY 0%, QoQ -0.1%
Adj. PAT came at Rs. 550.9 Cr vs YoY Rs. 381.1 Cr, QoQ Rs. 415.5 Cr
Gross NPA came at Rs. 3916.3 Cr vs QoQ Rs. 3857.6 Cr at 3.95% vs QoQ 3.91%
Net NPA came at Rs. 813.4 Cr vs QoQ Rs. 727.6 Cr at 0.85% vs QoQ 0.76%
Quarter EPS is Rs. 5
Stock is trading at 0.9x trailing P/Adj. BV

1,841

NIRMAL BANG OFFICIAL

25 Oct, 09:35

*India Shelter Finance Corporation Ltd. - S* | *CMP* Rs. 665 | *M Cap* Rs. 7771 Cr | *52 W H/L* 799/519
(Nirmal Bang Retail Research)
*Result is in line with expectations*
NII came at Rs. 140.2 Cr vs YoY Rs. 96.4 Cr, QoQ Rs. 132.8 Cr
PBP came at Rs. 124.7 Cr vs expectation of Rs. 120.6 Cr, YoY Rs. 82.4 Cr, QoQ Rs. 114.4 Cr
Provision came at Rs. 7.8 Cr vs expectation of Rs. 8 Cr, YoY Rs. 5.3 Cr, QoQ Rs. 6.6 Cr
PAT came at Rs. 89.9 Cr vs expectation of Rs. 87.4 Cr, YoY Rs. 60 Cr, QoQ Rs. 83.3 Cr
AUM came at Rs. 7039 Cr vs YoY Rs. 5181 Cr, QoQ Rs. 6509 Cr
Disbursements came at Rs. 1543 Cr vs YoY Rs. 638 Cr, QoQ Rs. 715 Cr
Gross NPA (%) came at 1.24% vs QoQ 1.14%
Net NPA (%) came at 0.94% vs QoQ 0.86%
Quarter EPS is Rs. 8.4
Stock is trading at 2.9x trailing P/BV

1,642

NIRMAL BANG OFFICIAL

25 Oct, 09:23

*Mahindra Holidays & Resorts India Ltd.* | *CMP* Rs. 362 | *M Cap* Rs. 7317 Cr | *52 W H/L* 505/348
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 670.7 Cr (2.7% QoQ, 2.4% YoY) vs QoQ Rs. 652.9 Cr, YoY Rs. 655.3 Cr
EBIDTA came at Rs. 123.4 Cr (17.1% QoQ, -9.3% YoY) vs QoQ Rs. 105.4 Cr, YoY Rs. 136 Cr
EBITDA Margin came at 18.4% vs QoQ 16.1%, YoY 20.8%
Adj. PAT came at Rs. 13.8 Cr vs QoQ Rs. 5.9 Cr, YoY Rs. 21.3 Cr
Quarter EPS is Rs. 0.7
Stock is trading at P/E of 64.4x TTM EPS

1,465

NIRMAL BANG OFFICIAL

25 Oct, 08:41

*Bharat Electronics Ltd.* | *CMP* Rs. 269 | *M Cap* Rs. 196633 Cr | *52 W H/L* 341/127
(Nirmal Bang Retail Research)
*Result ahead of Expectation*
Revenue from Operations came at Rs. 4756.9 Cr (13.3% QoQ, 19.1% YoY) vs expectation of Rs. 4756.9 Cr, QoQ Rs. 4198.8 Cr, YoY Rs. 3993.3 Cr
EBIDTA came at Rs. 1388.5 Cr (48.2% QoQ, 38.2% YoY) vs expectation of Rs. 1132.5 Cr, QoQ Rs. 936.7 Cr, YoY Rs. 1004.4 Cr
EBITDA Margin came at 29.2% vs expectation of 23.8%, QoQ 22.3%, YoY 25.2%
Adj. PAT came at Rs. 1091.3 Cr vs expectation of Rs. 905.6 Cr, QoQ Rs. 776.1 Cr, YoY Rs. 812.3 Cr
Quarter EPS is Rs. 1.5
Stock is trading at P/E of 35.1x FY26E EPS

1,463

NIRMAL BANG OFFICIAL

25 Oct, 08:30

*Eris Lifesciences Ltd.* | *CMP* Rs. 1270 | *M Cap* Rs. 17285 Cr | *52 W H/L* 1522/800
(Nirmal Bang Retail Research)
*Result is broadly in-line with expectations*
Revenue from Operations came at Rs. 741.2 Cr (3% QoQ, 46.7% YoY) vs expectation of Rs. 764.7 Cr, QoQ Rs. 719.7 Cr, YoY Rs. 505.3 Cr
EBIDTA came at Rs. 264.5 Cr (5.8% QoQ, 46% YoY) vs expectation of Rs. 267.5 Cr, QoQ Rs. 250 Cr, YoY Rs. 181.1 Cr
EBITDA Margin came at 35.7% vs expectation of 35%, QoQ 34.7%, YoY 35.8%
Adj. PAT came at Rs. 91.6 Cr vs expectation of Rs. 101.1 Cr, QoQ Rs. 83.2 Cr, YoY Rs. 123.4 Cr
Quarter EPS is Rs. 6.7
Stock is trading at P/E of 29.9x FY26E EPS

*Hindustan Petroleum Corporation Ltd.* | *CMP* Rs. 379 | *M Cap* Rs. 80740 Cr | *52 W H/L* 457/159
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 99925.9 Cr (-12.2% QoQ, 4.4% YoY) vs expectation of Rs. 105697 Cr, QoQ Rs. 113804.5 Cr, YoY Rs. 95701.1 Cr
EBIDTA came at Rs. 2724.4 Cr (29.3% QoQ, -66.8% YoY) vs expectation of Rs. 3881 Cr, QoQ Rs. 2107.6 Cr, YoY Rs. 8216.9 Cr
EBITDA Margin came at 2.7% vs expectation of 3.7%, QoQ 1.9%, YoY 8.6%
Adj. PAT came at Rs. 631.2 Cr vs expectation of Rs. 2138.9 Cr, QoQ Rs. 355.8 Cr, YoY Rs. 5118.2 Cr
Quarter EPS is Rs. 3
Stock is trading at P/E of 7.7x FY26E EPS

*Atul Ltd.* | *CMP* Rs. 7547 | *M Cap* Rs. 22219 Cr | *52 W H/L* 8165/583
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 1392.8 Cr (5.4% QoQ, 16.7% YoY) vs expectation of Rs. 1365.2 Cr, QoQ Rs. 1322.1 Cr, YoY Rs. 1193.7 Cr
EBIDTA came at Rs. 242.7 Cr (8.7% QoQ, 56.4% YoY) vs expectation of Rs. 228.1 Cr, QoQ Rs. 223.2 Cr, YoY Rs. 155.2 Cr
EBITDA Margin came at 17.4% vs expectation of 16.7%, QoQ 16.9%, YoY 13%
Adj. PAT came at Rs. 136.8 Cr vs expectation of Rs. 124.8 Cr, QoQ Rs. 111.9 Cr, YoY Rs. 90.3 Cr
Quarter EPS is Rs. 46.5
Stock is trading at P/E of 34.5x FY26E EPS

*Jubilant Pharmova Ltd.* | *CMP* Rs. 1105 | *M Cap* Rs. 17605 Cr | *52 W H/L* 1247/319
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 1752.3 Cr (1.2% QoQ, 4.3% YoY) vs QoQ Rs. 1731.7 Cr, YoY Rs. 1680.3 Cr
EBIDTA came at Rs. 289.4 Cr (15.1% QoQ, 19.7% YoY) vs QoQ Rs. 251.5 Cr, YoY Rs. 241.8 Cr
EBITDA Margin came at 16.5% vs QoQ 14.5%, YoY 14.4%
Adj. PAT came at Rs. 117 Cr vs QoQ Rs. 86.2 Cr, YoY Rs. 62.5 Cr
Quarter EPS is Rs. 7.3
Stock is trading at P/E of 46.3x TTM EPS

1,575

NIRMAL BANG OFFICIAL

25 Oct, 08:13

BOOK PROFIT IN COPPER SELL CALL AT 833.50

1,463

NIRMAL BANG OFFICIAL

25 Oct, 07:48

SELL CRUDEOIL 5928-5938 SL ABOVE 5991 TG 5860-5830

1,575

NIRMAL BANG OFFICIAL

25 Oct, 06:26

Intraday Derivatives Call Exit NIFTY 24OCT 24150 CE at 165 Visit our website for disclosure (Nirmal Bang)

1,755

NIRMAL BANG OFFICIAL

25 Oct, 06:25

Intraday Derivatives Call Exit NIFTY 24OCT 24150 CE at 165 Visit our website for disclosure (Nirmal Bang)

1,732

NIRMAL BANG OFFICIAL

25 Oct, 05:59

25-10-2024 TODAY
ATUL
LASTYR EBIDTA 155 CR
LASTQTR EBIDTA 223 CR
MKTEXP EBIDTA 228 CR RESULT IMPROVED

BALKRISHNAIND
LASTYR 347 CR
LASTQTR 490 CR
MKTEXP 357 CR RESULT DECLINING

BANDHANBK
LASTYR 721 CR
LASTQTR 1063 CR
MKTEXP 900 CR RESULT OK

BANKOFBARODA
LASTYR 4253 CR
LASTQTR 4458 CR
MKTEXP 4433 CR RESULT OK

BEL
LASTYR 812 CR
LASTQTR 776 CR
MKTEXP 906 CR RESULT IMPROVED

BPCL
LASTYR EBIDTA 12908 CR
LASTQTR EBIDTA 5650 CR
MKTEXP EBIDTA 5218 CR RESULT OK

CHOLAFIN
LASTYR 762 CR
LASTQTR 942 CR
MKTEXP 1017 CR RESULT IMPROVED

COALINDIA
LASTYR EBIDTA 8137 CR
LASTQTR EBIDTA 14338 CR
MKTEXP EBIDTA 11168 CR RESULT OK

DLF
LASTYR 622 CR
LASTQTR 645 CR
MKTEXP 687 CR RESULT OK

HPCL
LASTYR EBIDTA 8217 CR
LASTQTR EBIDTA 2107 CR
MKTEXP EBIDTA 3881 CR RESULT OK

INDIGO
LASTYR EBIDTA 2817 CR
LASTQTR EBIDTA 5217 CR
MKTEXP EBIDTA 3060 CR RESULT OK

JSWSTL
LASTYR EBIDTA 7886 CR
LASTQTR EBIDTA 5510 CR
MKTEXP EBIDTA 7224 CR RESULT IMPROVED

NUVAMA
LASTYR 145 CR
LASTQTR 221 CR
MKTEXP 242 CR RESULT GOOD

TORNTPHARMA
LASTYR 386 CR
LASTQTR 457 CR
MKTEXP 491 CR RESULT IMPROVED

26-10-2024 SATURDAY
ICICIBK
LASTYR 10261 CR
LASTQTR 11059 CR
MKTEXP 11053 CR RESULT OK

IDFCBK
LASTYR PBP 1510 CR
LASTQTR PBP 1882 CR
MKTEXP PBP 1968 CR RESULT IMPROVED

JKCEM
LASTYR EBIDTA 467 CR
LASTQTR EBIDTA 486 CR
MKTEXP EBIDTA 435 CR RESULT OK

RECLTD
LASTYR 3772 CR
LASTQTR 3442 CR
MKTEXP 3713 CR RESULT OK

28-10-2024 MONDAY
AMBUJACEM
LASTYR EBIDTA 1302 CR
LASTQTR EBIDTA 1280 CR
MKTEXP EBIDTA 904 CR RESULT DECLINING

BHARTIARTL
LASTYR EBIDTA 19514 CR
LASTQTR EBIDTA 19707 CR
MKTEXP EBIDTA 21892 CR RESULT IMPROVED

BHEL
LASTYR -233 CR
LASTQTR -212 CR
MKTEXP -84 CR RESULT OK

FEDERALBK
LASTYR 954 CR
LASTQTR 1010 CR
MKTEXP 1016 CR RESULT OK

FSL
LASTYR 126 CR
LASTQTR 135 CR
MKTEXP 143 CR RESULT OK

IGL
LASTYR 535 CR
LASTQTR 402 CR
MKTEXP 458 CR RESULT OK

IOC
LASTYR EBIDTA 21303 CR
LASTQTR EBIDTA 8635 CR
MKTEXP EBIDTA 9802 CR RESULT OK

JISL
LASTYR 9 CR
LASTQTR 13 CR
MKTEXP NO EXP

JSWINFRA
LASTYR 254 CR
LASTQTR 292 CR
MKTEXP 299 CR RESULT OK

LICHSGFIN
LASTYR 1188 CR
LASTQTR 1300 CR
MKTEXP 1232 CR RESULT OK

PNB
LASTYR 1756 CR
LASTQTR 3252 CR
MKTEXP 3334 CR RESULT OK

RAILTEL
LASTYR 68 CR
LASTQTR 66 CR
MKTEXP NO EXP

SUNPHARMA
LASTYR 2376 CR
LASTQTR 2835 CR
MKTEXP 2931 CR RESULT IMPROVED

TATATECH
LASTYR 160 CR
LASTQTR 162 CR
MKTEXP NO EXP

29-10-2024 TUESDAY
ADANIENT
LASTYR 316 CR
LASTQTR 1454 CR
MKTEXP NO EXP

ADANIPORT
LASTYR 2203 CR
LASTQTR 3254 CR
MKTEXP 2601 CR RESULT OK

CANBK
LASTYR 3606 CR
LASTQTR 3905 CR
MKTEXP 3798 CR RESULT OK

CIPLA
LASTYR 1130 CR
LASTQTR 1178 CR
MKTEXP 1246 CR RESULT IMPROVED

CONCOR
LASTYR 367 CR
LASTQTR 258 CR
MKTEXP 335 CR RESULT OK

ENGININDIA
LASTYR 102 CR
LASTQTR 55 CR
MKTEXP 93 CR RESULT OK

GLAXO
LASTYR 218 CR
LASTQTR 182 CR
MKTEXP 243 CR RESULT IMPROVED

MARICO
LASTYR 353 CR
LASTQTR 464 CR
MKTEXP 389 CR RESULT OK

MARUTI
LASTYR 3717 CR
LASTQTR 3650 CR
MKTEXP 3674 CR RESULT OK

PCBL
LASTYR 123 CR
LASTQTR 118 CR
MKTEXP 124 CR RESULT OK

SBICARD
LASTYR 603 CR
LASTQTR 594 CR
MKTEXP 587 CR RESULT OK

VOLTAS
LASTYR 37 CR
LASTQTR 334 CR
MKTEXP 130 CR RESULT IMPROVED

1,885

NIRMAL BANG OFFICIAL

25 Oct, 05:17

1-2 Days Technical Call SELL TATACONSUM FUT 31 OCT Below 985 with Stop Loss 1005 Target 945 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,697

NIRMAL BANG OFFICIAL

21 Oct, 14:54

Buy Zinc bet 283.7-283.4 SL BELOW 282 TGT 286.7-288

657

NIRMAL BANG OFFICIAL

21 Oct, 09:58

*CG Power and Industrial Solutions Ltd.* | *CMP* Rs. 796 | *M Cap* Rs. 121668 Cr | *52 W H/L* 814/359
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 2412.7 Cr (8.3% QoQ, 20.5% YoY) vs expectation of Rs. 2332.8 Cr, QoQ Rs. 2227.5 Cr, YoY Rs. 2001.5 Cr
EBIDTA came at Rs. 294.7 Cr (-9.9% QoQ, -4.5% YoY) vs expectation of Rs. 335.4 Cr, QoQ Rs. 327.1 Cr, YoY Rs. 308.6 Cr
EBITDA Margin came at 12.2% vs expectation of 14.4%, QoQ 14.7%, YoY 15.4%
Adj. PAT came at Rs. 221 Cr vs expectation of Rs. 259.9 Cr, QoQ Rs. 241.1 Cr, YoY Rs. 215.1 Cr
Quarter EPS is Rs. 1.4
Stock is trading at P/E of 85.4x FY26E EPS

*Gravita India Ltd.* | *CMP* Rs. 2390 | *M Cap* Rs. 16500 Cr | *52 W H/L* 2700/730
(Nirmal Bang Retail Research)
*Result declining*
Revenue from Operations came at Rs. 927.4 Cr (2.2% QoQ, 10.9% YoY) vs QoQ Rs. 907.9 Cr, YoY Rs. 836.2 Cr
EBIDTA came at Rs. 63.5 Cr (-27.6% QoQ, -12.6% YoY) vs QoQ Rs. 87.7 Cr, YoY Rs. 72.6 Cr
EBITDA Margin came at 6.8% vs QoQ 9.7%, YoY 8.7%
Adj. PAT came at Rs. 72 Cr vs QoQ Rs. 67.3 Cr, YoY Rs. 57.9 Cr
Quarter EPS is Rs. 10.4
Stock is trading at P/E of 40.2x FY26E EPS

1,331

NIRMAL BANG OFFICIAL

21 Oct, 08:54

*Ultratech Cement Ltd.* | *CMP* Rs. 10790 | *M Cap* Rs. 311503 Cr | *52 W H/L* 12138/8087
(Nirmal Bang Retail Research)
Sales volume (in MT) came at 27.84 vs expectation of 27.34, QoQ 32, YoY 26.70
Realizations (Rs./tonne) came at 5616.02 vs expectation of 5881.49, QoQ 5646.88, YoY 5997
EBITDA/tonne (Rs./tonne) came at 724.96 vs expectation of 906.29, QoQ 949.78, YoY 955.39
*Result is below expectations*
Revenue from Operations came at Rs. 15634.7 Cr (-13.5% QoQ, -2.4% YoY) vs expectation of Rs. 16079.7 Cr, QoQ Rs. 18069.6 Cr, YoY Rs. 16012.1 Cr
EBIDTA came at Rs. 2018.3 Cr (-33.6% QoQ, -20.9% YoY) vs expectation of Rs. 2477.8 Cr, QoQ Rs. 3039.3 Cr, YoY Rs. 2550.9 Cr
EBITDA Margin came at 12.9% vs expectation of 15.4%, QoQ 16.8%, YoY 15.9%
Adj. PAT came at Rs. 820 Cr vs expectation of Rs. 1196.9 Cr, QoQ Rs. 1664.1 Cr, YoY Rs. 1281.5 Cr
Quarter EPS is Rs. 28.4
Stock is trading at EV/EBITDA of 17.2x FY26E EBITDA

1,414

NIRMAL BANG OFFICIAL

21 Oct, 08:49

*Solara Active Pharma Sciences Ltd.* | *CMP* Rs. 836| *M Cap* Rs. 3010 Cr | *52 W H/L* 850/264
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 347 Cr (-4.6% QoQ, -18.4% YoY) vs QoQ Rs. 363.5 Cr, YoY Rs. 425.2 Cr
EBIDTA came at Rs. 61.3 Cr (46.3% QoQ, 62.9% YoY) vs QoQ Rs. 41.9 Cr, YoY Rs. 37.6 Cr
EBITDA Margin came at 17.7% vs QoQ 11.5%, YoY 8.8%
Adj. PAT came at Rs. 8 Cr vs QoQ Rs. -13.5 Cr, YoY Rs. -11.9 Cr
Quarter EPS is Rs. 2.2

1,324

NIRMAL BANG OFFICIAL

21 Oct, 06:04

Intraday Derivatives Call Book Partial Profits in BANKNIFTY 23OCT 52000 PE at 306-312, Target 420, Call initiated at 225 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,616

NIRMAL BANG OFFICIAL

21 Oct, 05:24

*VERY IMPORTANT CLARIFICATION FROM BAJAJ AUTO*
WE ARE GROWING 40% FASTER THAN INDUSTRY AVERAGE
GROWTH WILL BE CLOSER TO DOUBLE DIGIT BY DECEMBER

*BAJAJ ATO SAYS*
RAJIV BAJAJ SAYS
COMMENTS WERE MISTAKEN EARLIER
PROMOTERS ARE BUYING STOCK FROM OPEN MARKET
FEEL 20,000 RUPEES IS FAIR VALUE OF BAJAJ AUTO STOCK

MRO-TEK REALTY: CO SUCCESSFULLY PROCURED A PARCEL OF LAND AT CANDOLIM, NORTH GOA FOR SIGNIFICANT STEP IN OUR STRATEGIC EXPANSION INTO THE REAL ESTATE SECTOR

1,762

NIRMAL BANG OFFICIAL

21 Oct, 05:22

Intraday Derivatives Call Buy BANKNIFTY 23OCT 52000 PE above 225 with SL 130 Target 420 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,611

NIRMAL BANG OFFICIAL

21 Oct, 04:33

1-2 DAYS Technical Buy Call BLAL Stop Loss Triggered at 239. Visit our website for disclosure. (Nirmal Bang).

1,706

NIRMAL BANG OFFICIAL

21 Oct, 04:22

1-2 DAYS Technical Call Buy NETWORK18 above 83.50 with Stop Loss 81 Target 90 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,771

NIRMAL BANG OFFICIAL

21 Oct, 04:10

1-2 DAYS Call Technical call SELL CIPLA FUT 31 OCT BELOW 1555.40 with SL 1575 Target 1515(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,796

NIRMAL BANG OFFICIAL

21 Oct, 04:08

1-2 DAYS Technical Call book partial profit in BHARTARTL FUT @ 1680-1678 Target 1655 , SELL call initiated 1702.40(ANALYST SWATI). Visit our website for disclosure (Nirmal Bang).

1,749

NIRMAL BANG OFFICIAL

21 Oct, 03:59

1-2 DAYS Technical Buy Call DCW Target 110 Achieved, Buy Call initiated at 103 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,787

NIRMAL BANG OFFICIAL

21 Oct, 03:52

1-2 DAYS Technical Buy Call Book Partial Profits in EMBDL at 135-136, Target 140, Buy Call initiated at 130.7(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,736

NIRMAL BANG OFFICIAL

19 Oct, 04:54

[18/10, 22:53] BD-EMP-NB03530 SANDEEP AGRAWAL: *OBEROI REALTY LTD.* | *CMP* Rs. 1931 | *M Cap* Rs. 70212 Cr | *52 W H/L* 2067/1051
(Nirmal Bang Retail Research)
New Booking came at Rs.1442.5cr vs QoQ Rs.1067cr YoY Rs.965cr
*Result Ahead of Expectation*
Revenue from Operations came at Rs. 1319.9 Cr (-6.1% QoQ, 8.4% YoY) vs expectation of Rs. 1252.3 Cr, QoQ Rs. 1405.2 Cr, YoY Rs. 1217.4 Cr
EBIDTA came at Rs. 813.8 Cr (-0.2% QoQ, 27.5% YoY) vs expectation of Rs. 656.7 Cr, QoQ Rs. 815.1 Cr, YoY Rs. 638.2 Cr
EBITDA Margin came at 61.7% vs expectation of 52.4%, QoQ 58%, YoY 52.4%
Adj. PAT came at Rs. 589.4 Cr vs expectation of Rs. 472.5 Cr, QoQ Rs. 584.5 Cr, YoY Rs. 456.8 Cr
Quarter EPS is Rs. 16.2
Stock is trading at P/E of 25x FY26E EPS
[18/10, 23:42] BD-EMP-NB03530 SANDEEP AGRAWAL: *ICICI Lombard General Insurance Co. Ltd. - S* | *CMP* Rs. 2015 | *M Cap* Rs. 104445 Cr | *52 W H/L* 2302/1303
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
GDPI came at Rs. 6721 Cr vs YoY Rs. 6085 Cr, QoQ Rs. 7688 Cr
Net Premiums earned came at Rs. 5026 Cr vs expectation of Rs. 4778 Cr, YoY Rs. 4306 Cr, QoQ Rs. 4504 Cr
PAT came at Rs. 694 Cr vs expectation of Rs. 681 Cr, YoY Rs. 577 Cr, QoQ Rs. 580 Cr
Combined Ratio came at 104.5% vs QoQ 102.3%
Market Share came at 9.4% vs QoQ 10.6%
Quarter EPS is Rs. 14
Stock is trading at P/E of 34.1x FY26E EPS & 7.6x trailing P/BV
[18/10, 23:42] BD-EMP-NB03530 SANDEEP AGRAWAL: *Tejas Networks Ltd.* | *CMP* Rs. 1190 | *M Cap* Rs. 20380 Cr | *52 W H/L* 1495/651
(Nirmal Bang Retail Research)
*With the Execution of BSNL project, order book declined. Order Book has come at Rs.4845cr vs QoQ Rs.7091cr YoY Rs.9271cr New Order booking in the quarter was around Rs.500cr*

*Result Improved*
Revenue from Operations came at Rs. 2811.3 Cr (79.9% QoQ, 610% YoY) vs QoQ Rs. 1562.8 Cr, YoY Rs. 396 Cr
EBIDTA came at Rs. 534.7 Cr (132.5% QoQ, 4022.7% YoY) vs QoQ Rs. 230 Cr, YoY Rs. 13 Cr
EBITDA Margin came at 19% vs QoQ 14.7%, YoY 3.3%
Adj. PAT came at Rs. 275.2 Cr vs QoQ Rs. 77.5 Cr, YoY Rs. -12.6 Cr
Quarter EPS is Rs. 16.1
Stock is trading at P/E of 44.8x TTM EPS

1,215

NIRMAL BANG OFFICIAL

18 Oct, 12:33

Book 238.4-238.8- BUY ALUMINIUM AT 237- 236.70 SL BELOW 235 TARGET 240

1,618

NIRMAL BANG OFFICIAL

18 Oct, 11:43

Option BUY NATGASCE200 bt 5.8-5 SL BELOW 2 TGT 11-12.8

1,703

NIRMAL BANG OFFICIAL

18 Oct, 09:47

*ZEE ENTERTAINMENT ENTERPRISES LTD.* | *CMP* Rs. 130 | *M Cap* Rs. 12453 Cr | *52 W H/L* 300/125
(Nirmal Bang Retail Research)
*Result ahead of Expectation*

*Company Target 8-10% overall revenue CAGR with current portfolio and Aspire to deliver industry-leading 18-20% EBITDA margin*

Revenue from Operations came at Rs. 2000.7 Cr (-6.1% QoQ, -17.9% YoY) vs expectation of Rs. 2104.4 Cr, QoQ Rs. 2130.5 Cr, YoY Rs. 2437.8 Cr
EBIDTA came at Rs. 323.2 Cr (19.5% QoQ, -2.9% YoY) vs expectation of Rs. 275.1 Cr, QoQ Rs. 270.6 Cr, YoY Rs. 332.8 Cr
EBITDA Margin came at 16.2% vs expectation of 13.1%, QoQ 12.7%, YoY 13.6%
Adj. PAT came at Rs. 198.5 Cr vs expectation of Rs. 141.9 Cr, QoQ Rs. 146.7 Cr, YoY Rs. 242.7 Cr
Quarter EPS is Rs. 2.1
Stock is trading at P/E of 12.7x FY26E EPS

*GNA Axles Ltd.* | *CMP* Rs. 418 | *M Cap* Rs. 1793 Cr | *52 W H/L* 519/357
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 387.6 Cr (-3% QoQ, -4.1% YoY) vs QoQ Rs. 399.6 Cr, YoY Rs. 404.2 Cr
EBIDTA came at Rs. 53 Cr (-3.3% QoQ, -3.7% YoY) vs QoQ Rs. 54.8 Cr, YoY Rs. 55 Cr
EBITDA Margin came at 13.7% vs QoQ 13.7%, YoY 13.6%
Adj. PAT came at Rs. 28.5 Cr vs QoQ Rs. 27.8 Cr, YoY Rs. 27.6 Cr
Quarter EPS is Rs. 6.6
Stock is trading at P/E of 18.8x TTM EPS

1,927

NIRMAL BANG OFFICIAL

18 Oct, 09:31

*Hindustan Zinc Ltd.* | *CMP* Rs. 513 | *M Cap* Rs. 216548 Cr | *52 W H/L* 808/285
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 8242 Cr (1.4% QoQ, 21.3% YoY) vs expectation of Rs. 7929.2 Cr, QoQ Rs. 8130 Cr, YoY Rs. 6792 Cr
EBIDTA came at Rs. 4104 Cr (3.9% QoQ, 30.7% YoY) vs expectation of Rs. 4065.5 Cr, QoQ Rs. 3951 Cr, YoY Rs. 3139 Cr
EBITDA Margin came at 49.8% vs expectation of 51.3%, QoQ 48.6%, YoY 46.2%
Adj. PAT came at Rs. 2381 Cr vs expectation of Rs. 2259.6 Cr, QoQ Rs. 2358 Cr, YoY Rs. 1737 Cr
Quarter EPS is Rs. 5.6
Stock is trading at EV/EBITDA of 12.7x FY26E EBITDA

1,737

NIRMAL BANG OFFICIAL

18 Oct, 09:08

1-2 Days Technical Call Buy SYRMA above 412 with SL 398 Target 445 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

1,738

NIRMAL BANG OFFICIAL

18 Oct, 08:55

1-2 DAYS Technical Call Buy BLAL above 245 with Stop Loss 239 Target 260 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,726

NIRMAL BANG OFFICIAL

18 Oct, 08:42

1-2 DAYS Technical Buy Call Book Partial Profits in ONMOBILE at 89.30-90, Target 95, Buy Call initiated at 87 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,769

NIRMAL BANG OFFICIAL

18 Oct, 08:20

1-2 DAYS Technical Call Buy ONMOBILE above 87 with Stop Loss 84 Target 95 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,737

NIRMAL BANG OFFICIAL

18 Oct, 08:01

1-2 DAYS Technical Buy Call Book Partial Profits in DCW at 106-107, Target 110, Buy Call initiated at 103 (ANALYST AYUSH). Visit our website for disclosure. (Nirmal Bang).

1,812

NIRMAL BANG OFFICIAL

18 Oct, 07:40

*Elecon Engineering Company Ltd.* | *CMP* Rs. 658 | *M Cap* Rs. 14766 Cr | *52 W H/L* 720/357
(Nirmal Bang Retail Research)
*Result declining*
Revenue from Operations came at Rs. 508.1 Cr (29.5% QoQ, 4.8% YoY) vs QoQ Rs. 392.4 Cr, YoY Rs. 484.9 Cr
EBIDTA came at Rs. 112.3 Cr (21.6% QoQ, -5.4% YoY) vs QoQ Rs. 92.4 Cr, YoY Rs. 118.7 Cr
EBITDA Margin came at 22.1% vs QoQ 23.5%, YoY 24.5%
Adj. PAT came at Rs. 87.7 Cr vs QoQ Rs. 73.4 Cr, YoY Rs. 88.6 Cr
Quarter EPS is Rs. 3.9
Stock is trading at P/E of 18.8x FY26E EPS

1,883

NIRMAL BANG OFFICIAL

18 Oct, 07:31

*Aether Industries Ltd.* | *CMP* Rs. 933 | *M Cap* Rs. 12369 Cr | *52 W H/L* 1071/762
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 198.8 Cr (10.4% QoQ, 21.1% YoY) vs QoQ Rs. 180 Cr, YoY Rs. 164.2 Cr
EBIDTA came at Rs. 53.6 Cr (24.3% QoQ, 16.7% YoY) vs QoQ Rs. 43.2 Cr, YoY Rs. 46 Cr
EBITDA Margin came at 27% vs QoQ 24%, YoY 28%
Adj. PAT came at Rs. 38.1 Cr vs QoQ Rs. 32.9 Cr, YoY Rs. 36.7 Cr
Quarter EPS is Rs. 2.9
Stock is trading at P/E of 55.9x FY26E EPS

1,738

NIRMAL BANG OFFICIAL

18 Oct, 07:27

AJMERA REALTY & INFRA INDIA: CO ISSUED 7.59 LAKHS SHARES TO MUKUL MAHAVIR AGRAWAL AT AN ISSUE PRICE OF RS.711

GRANULES INDIA: CO ANNOUNCES ANDA APPROVAL FOR BUPROPION HYDROCHLORIDE EXTENDED-RELEASE TABLETS

1,778

NIRMAL BANG OFFICIAL

18 Oct, 07:18

AJMERA REALTY ALLOTTED PREF SHARES TO MUKUL AGRAWAL

1,761

NIRMAL BANG OFFICIAL

18 Oct, 07:04

Intraday Derivatives Call Buy NIFTY 24OCT 25000CE above 92.5 with SL 70 Target 125(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).

1,703

NIRMAL BANG OFFICIAL

18 Oct, 06:17

BUY ALUMINIUM AT 237-236.70 SL BELOW 235 TARGET 240

BUY LEAD AT 183.20 -183 SL BELOW 181.30 TARGET 186

1,871

NIRMAL BANG OFFICIAL

18 Oct, 06:07

Plant Capacity 3200 TDP

1,876

NIRMAL BANG OFFICIAL

18 Oct, 06:04

BOOK PARTIAL PROFIT IN COPPER BUY CALL AT 823.75

1,803

NIRMAL BANG OFFICIAL

18 Oct, 06:04

STEEL AUTHORITY OF INDIA: MINISTRY OF NEW AND RENEWABLE ENERGY HAS SANCTIONED TOTAL THREE PILOT PROJECTS IN THE STEEL SECTOR, MATRIX GAS AND RENEWABLES LTD , SIMPLEX CASTINGS AND CO

1,767

NIRMAL BANG OFFICIAL

18 Oct, 05:43

BUY CRUDE OIL 5950 CE BUY AT 275 SL BELOW 230 TARGET 350

1,785

NIRMAL BANG OFFICIAL

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