Smart Disha Research & Algo

signal for buy/sell

worst 2o

best 20

heat map

*Stock of the day*

*Punjab National Bank*

Buy Range - 106-108

Target - 112-117

Support - 102

Time Frame - Positional

Document from Dr. Subhransu Sekhar Jena

*Sharekhan Stock Update- 3R Recommendation*

*Cholamandalam Investment and Finance Company*
*Risk-reward attractive*

*Rating:BUY*

(CMP:1,320 , Price Target:1,600 )

*Company Description*

CIFC was incorporated in 1978 as the financial services arm of the Murugappa Group. CIFC commenced business as an equipment financing company; and today, the company has emerged as a comprehensive financial services provider offering vehicle finance, home equity loans, home loans, consumer loans, SME loans, wealth management, stock broking, and a variety of other financial services tocustomers.


*Key Investment Arguments*

•We maintain BUY with an unchanged PT of Rs. 1,600. Despite near term headwinds, the company is likely to sustain healthy growth and deliver RoE of ~18-20% in FY25E.

•The company is reasonably confident of a 25-28% AUM growth in FY25E led by diversified product segment despite soft trends in the CV segment.

•Asset quality to remainbroadly stable in Q3FY2025 despite stress in some segments in Q2FY2025,improvement eyed in Q4FY25.

•Healthy AUM growth, margin tailwinds along with contained opex growth should translate into healthy earnings despite normalisation of credit cost to some extent. Risk-reward appears attractive given the recent underperformance. The stock trades at 4.6x/3.6x/2.9x its FY2025E/FY2026E/FY2027E BV estimates.

Document from Dr. Subhransu Sekhar Jena

*Stock in Action*

Prestige Estates | The Nifty Realty index had another positive year in 2024 and Prestige Estates featured among the top performers there, with gains of 44%. Axis Securities expects further upside on the stock as its price target of ₹2,195 implies a potential upside of 30% from…

J Kumar Infra | The infrastructure company, known mainly for projects in and around Mumbai, gained close to 33% in 2024 and Axis Securities expects healthy returns in 2025 as well. It has a price target of ₹950 on the stock, implying a potential upside of 25% for the year.

HUDCO | Bajaj Broking said that tailwinds are emerging for HUDCO from the recent PMAY-2 scheme, which will translate into disbursements worth ₹75,000 crore to ₹1 lakh crore in the next three years, along with robust urban infra financing opportunities from NHAI projects…

Laurus Labs | Laurus Labs is showing signs of a potential turnaround. It expects the second half of the year to be driven by a strong order book and the delivery of anticipated projects. On the charts, the company is on the cusp of breaking above the rounding formation,…

Himadri Specialty Chemicals | Bajaj Broking recommends buying the stock in the ₹525 - ₹545 range for a price target of ₹687, which implies a potential upside of 28% for the next 12 months. The development of first commercial plant with a 40,000 MTPA capacity for LFP Cathode…

ITD Cementation | The company has a pipeline of around ₹30,000 crore in projects at various stages, with bids for projects between ₹12,000 crore to ₹13,000 crore aly submitted. The company expects to win orders worth ₹10,000 crore by the end of the current financial year.…

HDFC Bank saw quarter-on-quarter deposit growth outpace loan growth in the three months to December 31. Deposits rose 4.2% to Rs 24.53 lakh crore, slowing from 5.1% rise in July-September quarter. Its low-cost current and savings account deposits rose 1.1%.

Bandhan Bank said its loans and advances grew by 15% year-on-year (YoY) to ₹133,285 crore as of the quarter ended December 2024, compared to ₹115,940 crore at the end of the same quarter last fiscal. Quarter-on-quarter (QoQ), loans and advances rose 2% from ₹130,649 crore as…

HG Infra Engineering gets LoI from Gujarat Urja Vikas Nigam for setting up a 250 MW/ 500 MWH standalone battery energy system in Gujarat.

Indian Bank: Total business up 8.3% YoY at ₹12.61 lakh crore in Q3. Total deposits were also up 7.3% YoY at ₹7.02 lakh crore. Gross advances rose 9.6% at ₹5.59 lakh crore.

AU Small Finance Bank:
The Reserve Bank of India has given its approval to HDFC Bank and its group entities to acquire up to 9.50% of the paid-up share capital in AU Small Finance Bank within one year from the date of the RBI approval letter.

Kotak Mahindra Bank:
Milind Nagnur has resigned as Chief Operating Officer and Chief Technology Officer of the bank, effective February 15, 2025. Additionally, the Reserve Bank of India has given its approval to HDFC Bank and its group entities to acquire up to 9.50% of the share…

JSW Infrastructure:
The company has entered into a concession agreement with Railway Administration (Northern Railway).

Deep Industries:
The company has received a Letter of Award from Oil and Natural Gas Corporation for the charter hiring of one 100MT workover rig for seven years for the Assam asset. The total estimated value of the said award is Rs 90.70 crore.

Brigade Enterprises:
The company, through its subsidiary Ananthay Properties, has signed a definitive agreement for a land parcel worth Rs 630 crore in Bengaluru for developing a residential project spanning about 20 acres. The project will have a total saleable area of 2.5…

Tata Elxsi:
The company will collaborate with Qualcomm to develop a virtual electronic control unit (ECU) platform for automakers and Tier-1 suppliers, using Snapdragon virtual system-on-chips (VSoCs) for the next generation of mobility solutions for passenger, commercial, and…

Rama Phosphates:
Shareholders have approved the sub-division of the existing one equity share of the company (with a face value of Rs 10 each) into two equity shares (with a face value of Rs 5 each).

Andhra Paper:
Operations of the manufacturing plant at Rajahmundry have been disrupted due to a strike by workers called by the Workers Trade Unions, effective January 3. The company management is in discussion with the concerned trade unions to resolve the issue amicably as soon…

Premier Explosives:
The company has reported a fire accident on January 4 in the factory at Peddakandukur, Telangana. The fire has resulted in damage to buildings and equipment in one of the pyrotechnic manufacturing facilities. The incident has led to the loss of life of one…

Global-Market Insights 1/n
-Notwithstanding the US indices' robust close, the market setup is adverse for Indian markets.
-The beginning of the earnings season combined with rising crude oil prices and the dollar will not be comfortable.
-Let's not compare our market with the US as their indicators are quite different
-Look at the HDFC Bank/IndusInd Bank Q3 business update, weakness is quite visible
-Now earnings will decide direction
========
Global-Market Insights 2/n
-Dow +340, S&P500 +74, Nasdaq +341
-The US 10Y bond yield is at 4.60%
-Dollar Index is at 108.92
-Rupee-Dollar is at 85.74
-Gold is at $2654
-Brent oil is at $76.51
=========
Global-Market Insights 3/3
-Oil and Gas prices may go up further as cold fuelled the demand

10% - Target Done🎯 Within 2 Days

Eagleeye

31st December 2024

7% up Today🚀🚀

worst 20

best 20

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*Key Points for Biocon :*

Company has entered into exclusive licensing agreements with two prominent pharmaceutical companies in the Middle East and Brazil for the commercialization of GLP-1 products.

Recovery in the second half is expected, fuelled by new product launches.

The company received six approvals, including two ANDAs in the U.S. for Sacubitril and Valsartan tablets, as well as Daptomycin for injection.

We see several positive indicators - 1) Debt reduction to lower finance costs, 2) Rising market share of biosimilars following the successful integration of the Viatris business, and 3) growth in the generic API segment, driven by complex peptide launches

*Stock of the day*

*Biocon*

Buy Range - 345-349

Target - 370-380

Support - 340

Time Frame - Positional

Document from Dr. Subhransu Sekhar Jena

*BULLION LEVELS*
*MCXBULLDEX* - 18631
Resistance: 18722-18814-18865
Support: 18579-18528-18436

*GOLD* - 76544
Resistance: 77010-77470-77770
Support: 76250-75950-75490

*SILVER* - 88887
Resistance: 89865-90850-91450
Support: 88280-87680-86695

*GOLD$* - 2624.05
Resistance: 2626.46-2628.68-2639.88
Support: 2621.78-2619.32-2608.12

*SILVER$* - 29.4585
Resistance: 29.49-29.52-29.74
Support: 29.43-29.4-29.18

*ENERGY LEVELS*
*CRUDEOIL* - 6035
Resistance: 6070-6105-6161
Support: 5979-5923-5888

*NATURALGAS* - 284.3
Resistance: 293.1-301.9-307.5
Support: 278.7-273.1-264.3

*CRUDEOIL$* - 70.26
Resistance: 70.32-70.38-81.58
Support: 70.17-70.08-58.88

*NATURALGAS$* - 3.659
Resistance: 3.693-3.728-3.948
Support: 3.639-3.62-3.4

*BASEMETALS LEVELS*
*COPPER* - 806.45
Resistance: 809.4-812.2-814.4
Support: 804.4-802.2-799.4

*ZINC* - 282.85
Resistance: 284.4-285.8-287.4
Support: 281.4-279.8-278.4

*ALUMINIUM* - 241.4
Resistance: 242.7-243.8-245
Support: 240.4-239.2-238.1

*LEAD* - 177.9
Resistance: 178.4-178.8-179.6
Support: 177.2-176.4-176

Global Markets 🕤
*US Markets*
Nasdaq 🔽 302 points -1.51 %
Dow Spot 🔽 333 points -0.77 %
*Asian Markets*
GIFT Nifty ↔️ 0.05 %
Nikkei 🔽 302 points -0.75 %
Strait Times 🔼 6 points 0.15 %
Hang Seng 🔽 103 points -0.46 %
Taiwan 🔼 38 points 0.17 %
Kospi 🔼 13 points 0.54 %
Shanghai ↔️ 0.07 %

Dow Futures 🔽 81 points
FTSE Futures 🔽 5 points
*Commodities - Crude*
Crude (Brent) 74.24 🔼 0.07 points 0.09%
Crude (WTI) 70.65 🔼 0.05 points 0.07%

Document from Dr. Subhransu Sekhar Jena

signal for buy/sell

worst 20

best 20

heat map

Infosys-Dec06_2024.pdf

*Sharekhan Stock Update- 3R Recommendation*
*Infosys Ltd*
*Rating: BUY*
(CMP:1923, Price Target:2270 )
*Financial Services on firm footing*
*Company Description*
Founded in 1981, Infosys is the second largest ($16,311 million in FY2022) IT services company in India in terms of export revenue with headcount of 3.14 lakh employees. BFSI accounts for the largest chunk of revenue (~31% of total revenue), followed by retail, energy and utilities, and communication. Region wise, North America and Europe continue to be the mainstay. Digital revenue continued to have a strong growth momentum in the past few quarters and now contributes 59.2% to total revenue.
*Key Investment Argument*
• We reiterate Buy with an unchanged PT of Rs. 2,270. At CMP, the stock trades at 30.3/26.5x/23.7x its FY25/26/27E EPS.
• The company’s Financial Services segment in the US continues to see rise in discretionary spends in capital markets, mortgages, cards and payments.
• With uncertainty on rate cuts and elections in US settling down, the plaguing concerns are expected to wane leading to a gradual uptick in discretionary spends across verticals.
• Project Maximus, which has been able to arrest the fall in margins since it was launched in FY24 is expected to drive margins in the medium term.

*Sharekhan Stock Update- 3R Recommendation*
*Can Fin Homes Ltd*
*Rating: BUY*
(CMP:803, Price Target:1050 )
*Back on speedy growth path, RoE to stay above 18%*
*Company Description*
Can Fin Homes is a leading housing finance company promoted by Canara Bank. The company has a wide network across 21 states and union territories, along with a strong brand. The company offers housing loans at competitive interest rates, both to salaried and self-employed borrowers. The company focuses on housing loans to individuals with ~89% of the book constituting to retail home loans.
*Key Investment Argument*
• Can Fin Homes is set to sustain an ~18% RoE over FY2025-2027, focus is back on faster AUM growth.
• Company’s internal processes and IT/system have been streamlined well, hence the management can focus on growth with enhanced centralised due diligence.
• Company would report an AUM growth of 14%/16.5%/18.0%, respectively, for FY2025/FY2026/FY2027. PMAY bodes well for the sector. Asset quality to remain stable, while and credit cost would moderate, driving drive the net earnings.
• Stock trades at 2.1x/1.8x/1.5x its FY2025E/FY2026E/FY2027 ABV estimates. We maintain a Buy rating with unchanged PT of Rs. 1,050.

CanFin-Dec06_2024.pdf

Document from Dr. Subhransu Sekhar Jena

signal for buy/sell

worst 20

best 20

heat map

Document from Dr. Subhransu Sekhar Jena

*Key Points for HCL TECH :*

In Q2FY25, HCL’s consolidated revenue rose 6.2% YoY in constant-currency (cc) terms, driven by stable performance in the software and services segment.

Software business grew 9.4% YoY on a cc basis, propelled by increasing adoption of the company’s products in the digital economy. The services segment was boosted by growth of 6.2% YoY on a cc basis in IT and business services.

EBITDA margin remained strong at 22.1%, led by operational efficiency and lower expenses for marketing events and travel.

As a result, adjusted PAT rose 10.5% YoY to Rs. 4,235cr, supported by strong operating performance.

HCL’s strong financial performance was driven by growth across most verticals and geographies. Further, performance is expected to remain strong based on the improving demand environment and strong deal momentum.

*Sharekhan Stock Idea- 3R Recommendation*
*Dixon Technologies (India) Ltd*
*Rating:BUY*
(CMP: 16874, Price Target:18800)
*Sustained Growth Across All Segments*
*Company Description*
Founded by Sunil Vachani, Dixon is a leading manufacturer of products for key consumer durable brands in India. The company currently has 10 state-of-the-art manufacturing units, four in Noida (Uttar Pradesh) and three each in Dehradun (Uttarakhand) and Tirupati (Andhra Pradesh). The company manufactures products with a capacity of 3.4 million LED TVs per year in the consumer durables segment, 20 million LED bulbs per month in the lighting segment, 1.2 million washing machines per year in home appliances, mobile phones, 7 lakh CCTVs, and 1.5 lakh DVDs per month in the security devices segment in India. The company also provides solutions in reverse logistics, i.e., repair and refurbishment services of STBs, mobile phones, and LED TV panels. Based on a report, ‘Project Rise’ by Frost & Sullivan India, Dixon is the a home-grown, design-focused products and solutions company.
*Key Investment Argument*
• Addressable new clients onboarding like Google (Pixel phones) recently, HP, and Asus in the last quarter has set Dixon on a strong footing for the Mobile and IT hardware segments, propelling its topline growth.
• We expect the IT hardware segment to see strong growth from FY2026. The mobile segment is also poised to grow and would significantly contribute to topline growth.
• Dixon has continued to drive backward integration in TV, lightning, and appliances segments, which is expected to provide cushion to operating margins.
• We retain our BUY rating with a revised PT of Rs. 18,800, factoring in a strong revenue/PAT CAGR of 53%/69% over FY2024-FY2027E. The stock currently trades at 82x/62x its FY2026E/FY2027E earnings, respectively.

Dixon-Dec03_2024.pdf

Sharekhan Actionable Ideas = Buy Dixon Technologies. CMP: Rs. 16874. Target Price Rs. 18800. Upside Potential: 11%

*Sharekhan Stock Idea- 3R Recommendation*
*Mahindra & Mahindra Ltd*
*Rating:BUY*
(CMP: 3027, Price Target:3600)
*In comes INGLO - Launchpad for BEVs*
*Company Description*
M&M is the flagship company of Mahindra Group. M&M’s core business houses the automotive and tractor segments. M&M is the only automotive company that is virtually present across all segments. The company is the market leader in LCVs and is a leading UV and 3W player. M&M also manufactures medium and heavy commercial vehicles (MHCV) and is present in the 2W space through its investment in Jawa. Apart from being a strong player in the automotive space, M&M is the market leader in the tractor segment, having a market share of about 40%. Apart from the core business, M&M is also the promoter/holds controlling interest in companies that are engaged in diverse businesses under the Mahindra brand (IT services, NBFC, logistics, hospitality, real estate, and auto ancillary business).
*Key Investment Argument*
• Timely launch of attractively priced and feature-rich BEVs would help M&M adhere to CAFÉ norms; models seem poised well accepted in market.
• Company set to outperform PV industry in near term; better outlook for tractors bodes well.
• We maintain a Buy rating on M&M with an SOTP-based revised PT of Rs. 3,600 on healthy traction in its PV segment, market leadership in tractors space, opportunity to grow in farm machinery segment, and a strong EV roadmap.
• Stock trades at P/E multiple of 25.7x/24.2x and EV/EBITDA multiple of 18.2x/16.2x its FY26E/FY27E estimates.

Mahindra_Mahindra-Dec03_2024.pdf

*Stock of the day*

*HCL Tech*

Buy Range - 1880-1900

Target - 1957-2000

Support - 1820

Time Frame - Positional

signal for buy/sell

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*BULLION LEVELS*
*MCXBULLDEX* - 18686
Resistance: 18764-18843-18900
Support: 18628-18571-18492

*GOLD* - 75760
Resistance: 76025-76290-76480
Support: 75570-75380-75115

*SILVER* - 87680
Resistance: 88730-89780-90390
Support: 87070-86460-85410

*GOLD$* - 2637.22
Resistance: 2654.85-2672.07-2683.27
Support: 2623.78-2609.93-2598.73

*SILVER$* - 30.1185
Resistance: 30.56-31-31.22
Support: 29.83-29.54-29.32

*ENERGY LEVELS*
*CRUDEOIL* - 5781
Resistance: 5841-5902-5936
Support: 5746-5712-5651

*NATURALGAS* - 272
Resistance: 285.8-299.6-306.9
Support: 264.7-257.4-243.6

*CRUDEOIL$* - 68.8
Resistance: 69.38-69.97-81.17
Support: 68.19-67.59-56.39

*NATURALGAS$* - 3.189
Resistance: 3.373-3.558-3.778
Support: 3.096-3.004-2.784

*BASEMETALS LEVELS*
*COPPER* - 807.75
Resistance: 810.9-814-816.4
Support: 805.4-803-799.9

*ZINC* - 287.65
Resistance: 289.8-291.9-294.2
Support: 285.4-283.1-281

*ALUMINIUM* - 241.75
Resistance: 243.5-245.1-246.3
Support: 240.7-239.5-237.9

*LEAD* - 180.05
Resistance: 180.7-181.2-181.8
Support: 179.6-179-178.5

Document from Dr. Subhransu Sekhar Jena

Kotak Transport & Logistics Fund NFO

_Momentum Strategy has ranked *1st* in terms of performance among different factor styles_🥇

Presenting (NFO) - *Axis Momentum Fund*🚀
NFO Period - *22nd Nov To 6th Dec 2024*

*Stock of the day*

*Jubilant Foodworks*

Buy Range - 647-654

Target - 652-716

Support - 620

Time Frame - Positional

*GLOBAL MARKET INSIGHTS*

- The US markets were negative as tech shares dragged the indexes
- Nvidia fell more than 1%, while Meta slid 0.8%
- After poor profit projections, Dell and HP fell of more than 12% and 11%, respectively
- As expected by the market, markets remained neutral despite the little increase in the PCE inflation index
- October core PCE was in line with consensus, rising 0.3% m-o-m
- This means the Fed is likely on track to cut interest rates at December meeting
- Dow -138, S&P500 -23, Nasdaq -115
- US 10Y bond yield at 4.26%
- Dollar Index 106.16
- Gold at $2637
- Brent oil $72.83
- Gold finished up 0.1%
- Crude oil is falt after Lebanon truce announced
- JP Morgan sees S&P500 rising in 2025, S&P500 target 6500
- JP Morgan forecasts 10-15% Chinese yuan slide in the event of US-China trade war
- Trump indicated 10% additional tariff on China imports

The key equity indices ended with modest gains on Wednesday as a rebound in Adani Group stocks was offset by weak performances from heavyweights, leading to wide fluctuations throughout the day. Positive developments in the Middle East also contributed to the rebound, with Israel and Hezbollah agreeing to a ceasefire. The Nifty settled above the 24,250 mark. Media, metal and oil & gas shares advanced while pharma, realty and IT shares declined. The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 1.18%. Now, on the downside 24,150 holds the significant support level for Nifty (spot) and on the upside 24,450 holds the resistance level.

signal for buy/sell

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*Stock of the day*

*Federal Bank*

Buy Range - 208-214

Target - 225-241

Support - 196

Time Frame - Positional

Document from Dr. Subhransu Sekhar Jena

Document from Dr. Subhransu Sekhar Jena

*Sharekhan Stock Update- 3R Recommendation*

*Ratnamani Metals & Tubes Ltd*
*Execution delays hit Q2*

*Rating: HOLD*

(CMP:3,643 , Price Target:3,950 )

*Company Description*

Incorporated in 1983, RMTL is a critical player in piping solutions in India. Thecompany is the largest manufacturer of nickel alloy/SS seamless and welded tubes/pipes and titanium welded tubes in India. RMTL is also one of India’s
leading manufacturers of CS welded pipes (ERW, L-SAW, and H-SAW) and SS/CS pipes with three-layer PE/PP coating.
The company has two manufacturing plants located in Gujarat. It manufactures various withs and CS products and value-added products in each segment, having a capacity of 50,000 mtpa and 3,50,000 mtpa. RMTL caters to clients in refineries, petrochemicals, oil and gas, thermal power, nuclear power energy, fertilisers, water distribution, chemicals,and aerospace.

*Key Investment Arguments*

•PAT stood at Rs. 99 crore (down 40%/6% y-o-y/q-o-q) was 23% below our estimate due to monsoon led delayed dispatches and weakness in pricing.

•OPM fell by 584 bps on lower execution of export orders, which are scheduled to be
executed in the coming quarters.

•Order book rose 16% q-o-q to Rs. 2,960 crore. Strong traction was seen in inquiry of export orders.

•Strong balance sheet and dominant domestic position in steel tubes & pipes segment
makes it well-placed to capture medium to long-term growth opportunities from oil & gas and the water supply segment. We retain a Hold rating due to limited upside on the rich valuations with a PT of Rs. 3,950. Stock trades at 32x FY27 EPS and 20x FY27 EV/
EBITDA.

Document from Dr. Subhransu Sekhar Jena

*Sharekhan Stock Update- 3R Recommendation*

*Finolex Cables Ltd*
*Commodity prices impacted Q2*

*Rating:BUY*

(CMP:1,099 , Price Target:1,300 )

*Company Description*

Finolex is India’s largest and leading manufacturer of electrical and communication cables. The company offers a
wide range of products. Itswire and cable products are used in applications such as automobiles, lighting, cable TV, telephones, and computers for industrial applications. Finolex has added electrical switches, LED-based lamps, fans, low-voltage MCBs, and water heaters to its product range

*Key Investment Arguments*

•Q2 numbers were a mixed bag with revenues rising 10.5%, but OPM declining to 8.1% from 12.3%. The margins were impacted by lower and volatile copper prices, high-cost inventory and channel destocking.

•Segment wise –Electric cables/communication cables/copper rods/FMEG reported revenues of Rs. 1,104/135/349/60 crore with a growth of 12%/-0.8%/-22%/10% on a y-o-y basis.

•Capex of Rs. 500 crore in the next two years with a significant capex of Rs. 350-400 crore in FY25. The
E-beam facility is awaiting regulatory permissions and is expected to be operational soon.

•Finolex has a leadership position and is a strong brand in the C&W segment. In the long term, optic fiber cables should do well, as India remains underpenetrated in the segment. We maintain our Buy rating for a revised PT of Rs 1,300. At CMP, the company trades at a valuation of 18x on FY27 earnings.

Outlook:
Outlook for the metal remains constructive as the aforesaid rationale continues to hold; however, volatility due to the US Presidential election outcome can’t be ruled out. Sharply rising US yields and firmer Dollar are near-term tailwinds. Still, we are positive on the white metal, so we continue to hold two lots of silver mini in a Buy position.

Silver viewpoint report: Partial closing

Call: On August 2, 2024, we generated a viewpoint report-based call on silver wherein we suggested buying 2 lots of silver mini at a spot price of $29.02 as we looked for a target of $37. We advised a stoploss of $24. We suggested buying two lots of MCX Silver mini (August 2024 contract) at Rs 84,212. We intended to add the remaining six lots of silver mini later. Subsequently, we added two more lots of silver mini at $27.50 (spot) and $28.77 (spot).

Closing rates: On October 29, 2024, we booked profit in one lot of silver mini at $34.45 spot/ Rs 98,840 (MCX November 2024 contract). Thus, out of the four lots of silver mini, we have booked profit in two lots. We continue to hold two lots of silver mini in a Buy position.

NOTICE
We have few job vacancies in few broking houses.
Preferable Graduate and Post Graduate.

However, all can send resume to me directly and can mail too on [email protected]

Note: NISM Eq Der Series VIII Exam is must

signal for buy/sell

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heat map

Crude oil plunge amid possibilities of war de-escalation

Key Points:

Crude oil records biggest decline in two years
LME Zinc premiums revive
US looking to refill 3 mb crude oil in April-May 2025
Precious metals edged higher in Asia

*Stock of the day*

*Sun Pharma*

Buy Range - 1892-1912

Target - 2000-2047

Support - 1840

Time Frame - Positional

Sharekhan Actionable Ideas = Buy Bharat Electronics (BEL). CMP: Rs. 269. Target Price Rs. 380. Upside Potential: 41%

Sharekhan Actionable Ideas = Buy Welspun Living. CMP: Rs. 151. Target Price Rs. 189. Upside Potential: 25%

signal for buy/sell

worst 20

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heat map

*Stock of the day*

*ICICI Bank*

Buy Range - 1264-1272

Target - 1303-1330

Support - 1230

Time Frame - Positional

Document from Dr. Subhransu Sekhar Jena

*Stock Corrected from 52 week High to More then 20%*

ZEEL -58%
SPARC -56%
COCHINSHIP -49%
MAHSEAMLES -46%
MRPL -46%
CREDITACC -45%
SYRMA -43%
ATGL -43%
ALOKINDS -42%
RBLBANK -42%
NETWORK18 -41%
HUDCO -41%
EQUITASBNK -41%
TITAGARH -40%
MMTC -40%
SCI -40%
IRCON -40%
DBREALTY -40%
ITI -39%
ENGINERSIN -39%
UJJIVANSFB -39%
KIOCL -38%
HINDZINC -38%
J&KBANK -38%
IFCI -38%
BDL -38%
IRFC -37%
MANAPPURAM -37%
GRSE -37%
IOB -37%
NIACL -36%
IIFL -36%
PNCINFRA -36%
TRIDENT -36%
UNIONBANK -36%
DATAPATTNS -35%
TANLA -35%
ANURAS -35%
NSLNISP -35%
UCOBANK -35%
BANKINDIA -35%
FORCEMOT -34%
AARTIIND -34%
CGCL -34%
RAILTEL -34%
INFIBEAM -34%
SWANENERGY -34%
BIRLACORPN -33%
KIRLOSBROS -33%
ADANIPOWER -33%
SFL -33%
PSB -33%
IREDA -33%
SAMMAANCAP -33%
JWL -32%
JUNIPER -32%
BSOFT -32%
MEDANTA -32%
LODHA -32%
TTML -31%
SONATSOFTW -31%
NHPC -31%
GMDCLTD -31%
INTELLECT -30%
BANDHANBNK -30%
CHENNPETRO -30%
RAYMOND -30%
MAHABANK -29%
CERA -29%
PAYTM -29%
KPIGREEN -29%
PNB -29%
JKTYRE -28%
IRB -28%
RVNL -28%
RHIM -28%
CONCOR -28%
JBMA -28%
SKFINDIA -28%
TATAINVEST -28%
SAIL -28%
POONAWALLA -28%
DMART -28%
RITES -28%
DALBHARAT -28%
HFCL -28%
CONCORDBIO -28%
CYIENT -27%
REDINGTON -27%
NBCC -27%
CENTRALBK -27%
BHEL -27%
LICHSGFIN -27%
AEGISLOG -27%
RTNINDIA -27%
SJVN -26%
BEML -26%
VGUARD -26%
JYOTICNC -26%
SWSOLAR -26%
FACT -26%
UNOMINDA -25%
WELSPUNLIV -25%
IRCTC -25%
GPIL -25%
ASTRAL -25%
ARE&M -25%
ADANIENSOL -25%
GLAND -25%
MAHLIFE -25%
ASTERDM -25%
TATATECH -25%
INOXINDIA -25%
PRSMJOHNSN -25%
TIMKEN -25%
RPOWER -25%
RENUKA -25%
IDBI -25%
FINCABLES -25%
LICI -25%
HINDCOPPER -25%
PHOENIXLTD -24%
ZYDUSLIFE -24%
BAJAJELEC -24%
IDFCFIRSTB -24%
ZFCVINDIA -24%
LEMONTREE -24%
CASTROLIND -24%
PNBHOUSING -24%
SHOPERSTOP -24%
OLECTRA -24%
MAPMYINDIA -24%
RELINFRA -24%
TATAMOTORS -24%
HONASA -24%
IEX -24%
ACI -24%
INDIAMART -23%
INDUSINDBK -23%
BLS -23%
ZYDUSWELL -23%
VTL -23%
ENDURANCE -23%
GODREJIND -23%
SUPREMEIND -23%
ANGELONE -23%
DEVYANI -23%
GRAPHITE -23%
IGL -23%
GNFC -23%
BAJAJ-AUTO -23%
ELECTCAST -23%
KANSAINER -22%
EIHOTEL -22%
ADANIENT -22%
CARBORUNIV -22%
SHREECEM -22%
NYKAA -22%
GODFRYPHLP -22%
EXIDEIND -22%
NMDC -22%
ADANIGREEN -22%
RAMCOCEM -21%
RATEGAIN -21%
MAZDOCK -21%
MGL -21%
SOBHA -21%
TATACONSUM -21%
AWL -21%
ALKYLAMINE -21%
GUJGASLTD -21%
KIRLOSENG -21%
PCBL -21%
MSUMI -21%
SCHAEFFLER -21%
HAL -21%
ELECON -21%
DELHIVERY -21%
TATAELXSI -21%
PFC -21%
JPPOWER -21%
STARCEMENT -21%
GMRINFRA -20%
ONGC -20%
SBFC -20%
BHARATFORG -20%
CANBK -20%
MINDACORP -20%
ROUTE -20%

*Sharekhan View Point- 3R Recommendation*

*Varun Beverages Ltd*
*Resilient performance in challenging environment*

*Rating: POSITIVE*

(CMP:594 , Upside Potential:26%)

*Company Description*

VBL is a key player in the beverage industry and is one of the largest franchisees of PepsiCo in the world (outside
the U.S.). The company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water. PepsiCo’s CSD brands produced and sold by VBL include Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up, Mirinda Orange, Seven-Up, Nimbooz Masala Soda, and Evervess. PepsiCo’s NCB brands produced and sold by VBL include Tropicana Slice, Tropicana Juices(100% and Delight), Seven-Up Nimbooz, Gatorade as well as packaged drinking water under the brand Aquafina. VBL has been granted franchises for various PepsiCo’s products across 27 states and 7 union territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia,and Zimbabwe.

*Key Investment Arguments*

•Varun Beverages Ltd’s (VBL’s) Q3CY2024 performance beat expectations on all fronts, with revenue growing by 24% y-o-y and OPM rising by 117 bps y-o-y to 24% leading to 22% y-o-y growth in PAT.

•BevCo added 58-60 million cases to overall volumes in 9MCY24. Oct-Mar period is strong and is expected to add
higher volumes considering summer season in South Africa.

•Fund-raising of Rs. 7,500 crore through QIP to be utilised for partial debt reduction, capacity addition in India and other key markets and potential acquisition in key markets.

•The stock has corrected by ~13% from its recent high and trades at 75x, 57x and 46x its CY2024E, CY2025E and
CY2026E earnings,respectively. We stay Positive on the stock and expect an upside of 26% over the next 12 months.

Document from Dr. Subhransu Sekhar Jena