SD Solutions

  The steep correction in the stock price of Raymond provides the contrarian investor an opportunity to invest in a high-quality consumer franchise as the markets enter unlock phase of the pandemic. With 'Unlock 5.0' coming into effect, consumer franchise companies such as Raymond can witness strong traction, said a report from brokerage firm LKP Securities. LKP has initiated coverage on Raymond with a 'buy' call with a 12-month SOTP-based target price of Rs 485, which is an 81% upside from the September 28 closing price of the stock on NSE at Rs 267.65. In the calendar year 2020 so far, the stock is down 60 percent. The steep correction in the stock price of Raymond provides the contrarian investor an opportunity to invest in a high-quality consumer franchise as the markets enter unlock phase of the pandemic, said the brokerage. "Our scuttlebutt approach and channel checks during the past few months on footfalls and conversion rates reinforce our convict...

The super app aims to create a digital services behemoth offering a wide range of products in the retail space, Mint said. Walmart Inc is in talks with Tata Group for an investment of up to $25 billion in the salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter. According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report.  The news comes as Reliance Industries, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms. Separately, Bloomberg News reported Tata Group is in discussions with potential investors about...

The 75 lakh shares allotment to Rekha Rakesh Jhunjhunwala is valued at Rs 80 crore for 8 percent stake. With this, Jhunjhunwala will become the major individual shareholder in the company. Va Tech Wabag share price jumped over 6 percent in the morning trade on September 30 after the announcement Rekha Rakesh Jhunjhunwala, wife of ace investor Rakesh Jhunjhunwala, will invest Rs 80 crore in VA Tech Wabag, the Indian multinational player in the water treatment industry. The stock was trading at Rs 202.15, up Rs 11.65, or 6.12 percent. It has touched an intraday high of Rs 204.65 and an intraday low of Rs 194. The company has decided to raise Rs 120 crore via preferential issue, and on September 29, finalised the allotment of equity shares on a preferential basis. "Board of directors approved the issue and allotment of 75 lakh equity shares of face value of Rs 2 each, for cash, at a price of Rs 160 per equity share aggregating to Rs 120 crore by way of preferential issue ...

The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock. As long as stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be in an overall uptrend. On analysis, We found there are 6 stocks in the Nifty 100 index that are trading above 200-DMA but are still at least 25 percent away from their 52-week highs (Data Source: ACE Equity). Tata Motors | As on September 28, the stock was trading at Rs 133, which is 34 percent below it 52-week high of Rs 201.70. The 200-DMA value for the stock is Rs 124. Interglobe Aviation  | As on September 28, the stock was trading at Rs 1275, which is 33 percent below it 52-week high of Rs 1898.85. The 200-DMA value for the stock is Rs 1148. Bajaj Finance  | As on September 28, the stock was trading at Rs 3335, which is 32 percent below it 52-week high of Rs 4923.40. The 200-DM...

Promoter Envestor Ventures has offloaded the entire 5.24 percent stake in Take Solutions via two block deals on the NSE. Promoter entity Max Ventures Investment Holdings has offloaded a 2.2 percent equity stake in Max Financial Services via an open market transaction on September 28. Max Ventures sold 17 lakh shares in the company at Rs 600.06 per share on the NSE and 43.33 lakh shares at Rs 600.7 per share on the BSE, the bulk deals data available on the exchanges showed. Total shares constituted 2.2 percent of the total paid equity of Max Financial. Max Ventures held a 28.15 percent equity stake in the company as of June 2020. Max Ventures Investment Holdings also sold 1,67,12,104 shares in Max Healthcare Institute (representing 1.84 percent of the total paid-up equity) at Rs 108.88 per share on the BSE. Promoter Max Ventures held 11.35 percent shareholding in the company as of June 2020. However, Small World Fund Inc acquired 1.14 crore equity shares in Ma...

The global research firm has maintained buy rating with target at Rs 76 per share. It is of the view that rural portfolio is leading recovery in demand L&T Finance Holdings share price jumped 5 percent intraday on September 28 after HSBC retained 'buy' stance on the stock. The global research firm has maintained buy rating with target at Rs 76 per share. It is of the view that rural portfolio is leading recovery in demand and collections. It added that other segments are also witnessing gradual recovery, according to a CNBC-TV18 report. However, the research firm said that restructuring impact is still uncertain with immediate focus on strengthening balance sheet. It expects growth to return in FY22. The stock was trading at Rs 60.95, up Rs 2.65, or 4.55 percent. It has touched an intraday high of Rs 61.70 and an intraday low of Rs 58.80. Disclaimer : The views and investment tips expressed by investment experts on SD Solutionsare their own, and not that of the websit...

Gulf Oil Lubricants India announced a long term strategic partnership with S-Oil Corporation, South Korea to exclusively manufacture and market their entire range of lubricants under the brand - ‘S-Oil Seven’ for the Indian market. Gulf Oil Lubricants share price gained over 6 percent intraday on September 28 after the company announced a strategic lubricants partnership with S-Oil Corporation of South Korea. Gulf Oil Lubricants India has announced a long-term strategic partnership with S-Oil Corporation, South Korea to exclusively manufacture and market their entire range of lubricants under the brand - ‘S-Oil Seven’ for the Indian market, the company said in an exchange filing. The relationship which in the past has been built as key Term Partner on the base oil imports is now extended as the S-Oil lubricant products will soon be launched in India. It is the first time that an S-Oil lubricant product is being manufactured outside of South Korea, the company added. Ravi Chawla, MD...

Equity shares will get credited into the accounts of eligible investors by September 30 and the listing of equity shares will be on October 1, 2020. Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, is expected to announce the basis of allotment early next week. As per the schedule provided by the company, the finalisation of the basis of the allotment will be done by September 28 and the initiation of refunds or unblocking of funds from ASBA account will take place on September 29. Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes. Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Iso...

According to depositories data, FPIs have withdrawn a net Rs 4,016 crore from equities and invested a net sum of Rs 3,540 crore in debt instruments during September 1-25 — a net outflow of Rs 476 crore. Foreign portfolio investors (FPI) have pulled out Rs 476 crore on net basis so far from Indian markets in September, reflecting a cautious stance by participants amid fears of resurgence of coronavirus cases in Europe and other countries. According to depositories data, FPIs have withdrawn a net Rs 4,016 crore from equities and invested a net sum of Rs 3,540 crore in debt instruments during September 1-25 — a net outflow of Rs 476 crore. FPIs remained net buyers for three consecutive months — June-August. They had invested Rs 46,532 crore in August, Rs 3,301 crore in July and Rs 24,053 crore in June on net basis. "The renewed fears of re-emergence and surge in coronavirus cases in Europe and other countries have raised concerns about the possibility of fresh lockdowns being imposed...

The board of Tata Consumer Products has approved a proposal to evaluate the buyout and is planning a non-binding bid, reports in a section of media have said. Tata Consumer Products share price gained more than 3 percent intraday on September 25 following reports that the company was planning a non-binding bid for the vending machine business of Coffee Day Enterprises Ltd. The board of Tata Consumer Products has approved a proposal to evaluate the buyout and is planning a non-binding bid, a Bloomberg report said. CDEL, which owns the Cafe Coffee Day chain, is asking for $271 million valuation for the vending-machine business, sources told the news agency. The stock was trading at Rs 506.95, up Rs 18.20, or 3.72 percent. It has touched an intraday high of Rs 511.95 and an intraday low of Rs 495.20. It witnessed a spurt in volume by more than 1.06 times and was trading with volumes of 155,000 shares. Coffee Day is looking to induct strategic and financial partners into businesses as ...

The share touched its 52-week high of Rs 234.30 on November 29, 2019, and 52-week low of Rs 73.85 on March 24, 2020, respectively. Canara Bank share price rose nearly 4 percent intraday on September 25 after the board approved a capital-raising plan. The company has decided to raise additional equity share capital amounting up to Rs 2,000 crore through Qualified Institutional Placement (QIP) route in one or more tranches with a premium to be decided as per applicable the guidelines. The QIP issue shall be within the overall maximum limit of the board- approved capital raising plan (FY 2020-21) of Rs 5,000 crore equity share capital (including premium) and is subject to market conditions and necessary approvals. The share touched its 52-week high of Rs 234.30 on November 29, 2019, and 52-week low of Rs 73.85 on March 24, 2020, respectively. It is trading 62.89 percent below its 52-week high and 17.74 percent above its 52-week low. At 1451 hours, Canara Bank was quoting at Rs 86...

KKR, Bain Capital and Blackstone have expressed interest in acquiring a controlling stake in the company. Granules India share price jumped over 6 percent in the morning session on September 25 after three global private equity heavyweights, namely KKR, Bain Capital and Blackstone expressed interest in acquiring a controlling stake in Granules India, sources in the know told Moneycontrol. On September 10, 2020, Moneycontrol was the first to report that the promoter family of Granules India had revived plans for a potential exit from the company and was evaluating the sale of a majority stake at a premium valuation. “Blackstone, KKR and Bain Capital have submitted non-binding bids for the proposed transaction,” said one of the individuals cited above. The stock was trading at Rs 382.50, up Rs 21.90, or 6.07 percent at 09:20 hours. It has touched a 52-week high of Rs 395. According to brokerage firm Anand Rathi, "Strong demand for key products such as Metformin, P...

Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 percent of the total paid-up equity) at Rs 263.8 per share, the bulk deals data available on NSE showed. Advanced Enzyme Technologies share price jumped over 13 percent intraday on September 25, surging over 33 percent in the last 2 days. Nalanda India Equity Fund acquired a 3.75 percent equity stake in the company via an open market transaction on September 24. Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 percent of the total paid-up equity) at Rs 263.8 per share, the bulk deals data available on the National Stock Exchange showed. Foreign portfolio investor (FPI) bought nearly 4 percent stake in the company via open market. The stock was trading at Rs 308.80, up Rs 36, or 13.20 percent. It has touched a 52-week high of Rs 317.20. The scrip was trading with volumes of 218,164 shares, compare...

The work has been awarded by the Ministry of Railways through competitive bidding among PSUs. Ircon International share price added 4 percent in the early trade on September 24 after the company won an order for nine road over bridges' from the Ministry of Railways. Value at more than Rs 4OO crore, the company got the order through competitive bidding among PSUs. It will provide project management services for ROBs that will replace level crossings. The period of completion is 24 months from the date of signing of MOU with Zonal Railways. A memorandum of understanding (MoU) will be executed between the PSU and the concerned zonal Railway. At 0926 hours, Ircon International was quoting at Rs 82.05, up Rs 1.70, or 2.12 percent on the BSE.

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...

Telecom stocks came under pressure after rival Reliance Jio launched a range of postpaid plans. Bharti Airtel, Vodafone Idea and Bharti Infratel shed 7-8 percent each. S&P BSE Telecom tanked over 7 percent intraday on September 23. Bharti Airtel and Bharti Infratel were the top losers with each falling over 7 percent during the session. Telecom stocks are under pressure since morning after Reliance Jio launched a range of postpaid plans. The share price of Bharti Airtel was down over 8 percent and was trading at Rs 433.45, down Rs 37.60, or 7.98 percent at 13:55 hours. It was trading with volumes of 1,782,532 shares, compared to its five day average of 755,399 shares, an increase of 135.97 percent. Vodafone Idea was trading Rs 9.32, down Rs 0.93, or 9.07 percent. It has touched an intraday high of Rs 10.20 and an intraday low of Rs 9.23. The scrip was trading with volumes of 61,186,345 shares, compared to its five day average of 53,710,660 ...

Shares of the company have been witnessing selling as the promoters of the company have offered to sell shares at a significant discount. Shares of GMM Pfaudler were locked in a 10 percent lower circuit for the second session in a row on BSE on September 23. In the previous trading session, the stock hit 10 percent lower circuit of Rs 4,717 while today, it hit the lower circuit of Rs 4,245.30 in intraday trade on BSE. The stock has been on a losing streak since September 16 and if it closes in the red today, it will be its sixth consecutive session of losses. Shares of the company have been witnessing selling as the promoters of the company have offered to sell shares at a significant discount. The company's promoters said they would sell nearly 26 lakh shares worth Rs 1,433 crore at a 33 percent discount (Rs 3,500) to Monday's market price of Rs 5,241.10 on BSE. The promoters Pfaudler Inc. and Urmi Patel are selling 25.71 lakh shares or 17.59 percent of the total ...

Brokerage firm ICICI Securities has a buy call on the stock with a target price of Rs 258. Shares of Coal India (CIL) fell over 2 percent to hit their all-time low of Rs 118.85 in intraday trade on BSE on September 22. As per analysts' views, the company may witness de-growth in production during the current fiscal as its output is likely to fall below 600 million tonnes amid subdued demand. Analysts of brokerage firm Motilal Oswal projected production of 582 million tonne for Coal India and off-take of 565 million tonnes in FY21. Brokerage firm ICICI Securities has a buy call on the stock with a target price of Rs 258. RELATED NEWS Indiabulls Housing jumps 4% as Indiabulls Housing Finance Limited-Employees Welfare Trust buys stake "We maintain our buy rating and target price of Rs 258 valuing CIL on a DCF basis with peak production of 850mnte from FY29E onwards. Although our volume estimate for FY21E remains at 580mnte, CIL is confident of exceeding it, which we are positive ...