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Nazara Technologies shares spike 20% as stock trades ex-bonus

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of online gaming company Nazara Technologies surged 20 percent intraday on June 24 after the stock adjusted for the bonus issue. The stock was trading at Rs 614.25, up 17.92 percent against the previous close of Rs 520.90, at the time of writing this report. On May 13, Nazara announced the bonus issue in the ratio of one equity share for one equity share held by shareholders as on record date. Hence, the previous closing price of the stock halved to Rs 520.90, against Rs 1,041.80 earlier. The record date for the bonus issue has been fixed as June 27, which means a person having a share of Nazara Technologies by the closing of June 27 is eligible to get a bonus share. After hitting the lowest point since listing, the stock has rebounded. Its lowest closing was Rs 500.38 on June … [Read more...] about Nazara Technologies shares spike 20% as stock trades ex-bonus

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Wall Street rallies as traders dial back rate-hike bets

June 24, 2022 by www.moneycontrol.com

Wall Street's main indexes rose over 1% on Friday as signs of slowing economic growth and falling commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Global financial markets have been roiled this month on worries that rapid rate hikes by major central banks could cause a recession, with the benchmark S&P 500 (.SPX) confirming a bear market last week as it recorded a 20% drop from its January closing peak. The three main indexes on Friday looked set to notch their first weekly gain in four, boosted by megacap growth stocks and defensive sectors such as healthcare and utilities seen as safer bets during times of economic uncertainty. "Conversations about the U.S. economy likely slowing which could lessen the hawkishness of the Fed, combined with lower commodity prices and bond yields - these are reasons investors are mentioning to justify why we could experience a near-term bounce," said Sam Stovall, … [Read more...] about Wall Street rallies as traders dial back rate-hike bets

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Buy Dollar Industries; target of Rs 537: Hem Securities

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Hem Securities report on Dollar Industries Dollar Industries Q4 FY22 consolidated revenues came in at ₹ 376 Cr, up 21% YoY and down 1.8% QoQ with a volume decline of 2% YoY. PBIDT for Q4FY22 stood at ₹ 59 Cr, up 78% YoY and down 10.1% QoQ. PBIDTM for Q4FY22 came at 15.7%, up 500 bps YoY and down 146 bps QoQ. PAT for Q4FY22 stood at ₹ 37Cr, up 84.6% YoY and down 16.4% QoQ. Gross margins were impacted due to a steep increase in cotton yarn prices. Outlook We initiate a “BUY” rating on the stock and value the stock at 13.7x FY24E earnings to arrive at the target of ₹537. Close More Info At 12:08 hrs Dollar Industries was quoting at Rs 462.05, up Rs 7.50, or 1.65 percent. It has touched an intraday high of Rs 465.40 and an intraday low of Rs 460.65. It … [Read more...] about Buy Dollar Industries; target of Rs 537: Hem Securities

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Buy Cyient; target of Rs 911: Hem Securities

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Hem Securities report on Cyient Cyient Ltd Q4FY22 consolidated revenues came in at ₹1181.2 Cr, up 8.06% YoY and down 0.19% QoQ. EBITDA for Q4FY22 stood at ₹212.4 Cr, up 37.39% YoY and up 0.28% QoQ. EBITDA margins for Q4FY22 came at 17.98% as compared to 17.9% in Q3FY22 and 14.14% in Q4FY21. PAT for Q4FY22 stood at ₹154.2 Cr, up 49.56% YoY and up 17.00% QoQ. Outlook We give a “BUY” rating on the stock and value the stock at 15.2x FY24E earnings to arrive at the target of ₹911. More Info Close At 13:25 hrs Cyient was quoting at Rs 787.95, down Rs 3.35, or 0.42 percent. It has touched an intraday high of Rs 810.30 and an intraday low of Rs 786.00. It was trading with volumes of 6,115 shares, compared to its thirty day average of shares, a decrease of … [Read more...] about Buy Cyient; target of Rs 911: Hem Securities

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Accumulate Vinati Organics; target of Rs 1983: CD Equisearch

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × CD Equisearch's research report on Vinati Organics As per Crisil Research, the Indian specialty chemicals industry is expected to outpace its Chinese counterpart and almost double its global market share to ~6% by 2026. Much of this growth will be powered by solid export tailwinds due to a shift in the global supply chain driven by the China+1 policy of vendors and demand recovery in domestic end-user segments. Currently, the industry is confronted with a sharp rise in input costs, including fuel costs, and facing logistical challenges emerging from China. Beyond the ‘Chine plus one’ opportunity within agrochemical and pharmaceutical manufacturing, tailwinds from the imminent investment cycle in e-mobility, batteries, and renewables have further expanded the total addressable market that has … [Read more...] about Accumulate Vinati Organics; target of Rs 1983: CD Equisearch

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Buy Nazara Technologies; target of Rs 1813: Prabhudas Lilladher

June 24, 2022 by www.moneycontrol.com

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Prabhudas Lilladher's research report on Nazara Technologies We hosted Mr Manish Agarwal, CEO of Nazara Technologies for a NDR recently. Management indicated that Battle Grounds Mobile India (BGMI) Master Series IP which is to be telecast on … [Read more...] about Buy Nazara Technologies; target of Rs 1813: Prabhudas Lilladher

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Buy Amber Enterprises; target of Rs 3075: Sharekhan

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Amber Enterprises Amber Enterprises Limited (Amber) expects Q1 and FY2023 to be healthy as industry growth is expected at over 30% y-o-y and the company aims to gain 100 bps in market share. Long-term growth will be driven by sectoral tailwinds such as increasing affordability, rising temperature, PLI scheme benefits, and reducing dependency on imports in the air conditioner industry. Amber would strengthen its market share in the long term through backward integration, which would enhance its product offerings, entry into new categories, and focus on growing exports to combat the sector’s seasonality. Outlook The stock has corrected sharply by ~35% in the recent past; we believe near-term margin pressure and global headwinds are largely factored in … [Read more...] about Buy Amber Enterprises; target of Rs 3075: Sharekhan

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Buy Tube Investments; target of Rs 1900: Motilal Oswal

June 24, 2022 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on Tube Investments Tube Investments (TIINDIA) is a flagship company of the Murugappa group. It has a diversified range of products under its three verticals – engineering (57% of S/A FY22 revenue), metal forming products (19%), bicycles (15%) and others (9%). It is the market leader in manufacturing precision steel tubes under engineering vertical with ~60% market share in telescopic front fork suspension; it is a significant player in car door frames and the largest player in fragmented industrial chains segment (35% market share) under metal forming vertical. It is also the second largest player in bicycle business. Outlook We initiate coverage on the stock with a BUY rating and a TP of ~INR1,900. Close For all … [Read more...] about Buy Tube Investments; target of Rs 1900: Motilal Oswal

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Silver Pearl Hospitality is the 375th firm to be listed on BSE SME Platform

June 17, 2022 by www.moneycontrol.com

Representative Image Silver Pearl Hospitality & Luxury Spaces Limited became the 375th company to get listed on the BSE SME Platform on June 17, 2022. The company had launched its initial public offering (IPO) of 50,00,000 equity shares of Rs 10 each for cash at a price of Rs 18 per equity share, aggregating Rs 9 crore. The company successfully completed its public issue on June 09, 2022. Silver Pearl Hospitality & Luxury Spaces Limited is a West Bengal-based hospitality company that comes under the mid-priced hotel category. It includes upper-midscale, midscale, and economy hotels. Silver Pearl Hospitality's current properties are located in Rakchham, Kinnaur, and other parts of Himachal Pradesh. Silver Pearl Hospitality & Luxury Spaces Limited hotels, cafés, and restaurants are operated under the brand name "Osiya". The company also engages in the business of Online Marketing and Branding of Tashi Dolma home stay situated in Kinnaur, Himachal Pradesh on a … [Read more...] about Silver Pearl Hospitality is the 375th firm to be listed on BSE SME Platform

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PhonePe is made in India and will list in India, says CEO Sameer Nigam

June 8, 2022 by www.moneycontrol.com

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

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