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Intraday calls shine with 67% Success
Gladiator Stocks delivered 79% success rate
Great performance with 70% success rate and 20% gain
Overall wholesale volume prints for May 2023 came in steady with a sequential recovery witnessed almost across all segments.
Quarterly earnings in Q4FY23 were positive and 6% ahead of estimates. Incorporating revised PAT numbers for index constituents post Q4FY23, our forward estimates undergo a minor ~1% downgrade. Over FY23-25E, Nifty earnings are seen growing at a CAGR of 16.5%. Rolling over our valuations, we continue to value the Nifty at 21,500 i.e. 20x PE on FY25E EPS of Rs 1080/share. Corresponding target for the Sensex is at 71,600. These are our rolling 12 months’ index target.
Syngene reported a strong set of numbers driven by incremental orders from existing clients, new contract executions, reflecting revival signs of the CRAMs ecosystem.
Reliance Jio reported a muted topline performance in Q4FY23 while margins were better on lower network capex. The key highlight, however, was the strong growth outlook spelt out by the management in the communication business (wireless, broadband and enterprise).
In a regulatory exchange filing, Tata Motors said its foreign subsidiary, JLR, is planning to invest £15 billion (~Rs 1.52 lakh crore) over the next five years
Siam reported annual wholesale dispatches for the industry for FY23 wherein total domestic wholesales are seen touching 2.1 crore, up 20.4% YoY. Healthy double digit growth was witnessed across segments with exports coming a tad muted partially tracking global uncertainties and were down 15.2% YoY at 47.6 lakh (primary led by 2-W & 3-W space).
Viacom18 has announced that following the sanction by NCLT Mumbai, the scheme of merger of Reliance Storage (RIL subsidiary which houses Jio Cinema) with itself has become effective and Viacom18 has allotted shares to Bodhi Tree Systems [a platform of James Murdoch's Lupa Systems and Uday Shankar with Qatar Investment Authority (QIA) as investor], and RIL group entities as consideration for the scheme of merger.
The I-direct chemical universe is likely to witness a mixed quarter with agrochem, pharma and some specific specialty players to maintain their growth tempo while packaging, pigments, dyes and polymer players to remain muted. We expect growth of ~11.5% YoY on the revenue front in Q4FY23E.
After witnessing a QoQ increase in EBITDA/tonne in Q3FY23, EBITDA/tonne steel companies is likely to further expand in Q4FY23E.
The I-direct pharma universe (13 coverage companies) is likely to witness a decent quarter with ~11% growth YoY. This could be on the back of strong YoY growth in domestic formulations as well as better traction in the US portfolio.
Resilient corporate earnings, robust capex outlay to propel markets higher
Some of the themes to stand out in CY23 are:
· Electrification trend accelerating across categories in auto space,
· Banks poised for next round of re-rating cycle,
· Capex: Government to the fore with all guns blazing…
i-Lens A smarter way to access market every day! One go these screeners will help you identify stocks based on pre-defined conditions or trends as per your requirement.
24 Aug 2023 13:12 PM
Motherson Sumi Wiring India (MSWIL) had announced bonus share issuance on September 30, 2022. The ratio was two bonus equity share of Re 1 each fully paid up for every five existing equity share of Re 1 each fully paid up (i.e. in the ratio of 2:5) held by the shareholders as on the record date (i.e. November 17, 2022). MSWIL turns ex-bonus today (November 16, 2022).
Torrent Pharmaceuticals turns ex-bonus today...
Defense stocks in focus
Hotels stocks in Focus
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