LIVE: Stocks Trade Firm And Steady In A Rangebound Session | Metals & Industrials Rise | CNBC TV18

LIVE: Stocks Trade Firm And Steady In A Rangebound Session | Metals & Industrials Rise | CNBC TV18

2 340 level again these are very close
by so you know that’s a 20-day moving
average the other one I’m looking at is
moile yesterday the metal index took at
took a bit of a Brea them but moil was
one of the big moving stocks in trade
and the volumes are the highest we have
seen since November 2023 delivery was
the highest you see in the last 3 3 and
a half months coming to numbers vnb has
fallen 26% year on-ear to rupees 776
score we also seeing increase business
from cable wire harness 2244
so like yesterday right into that
resistance Zone the last 5 years has
seen uh you know significant change in
the earnings across the board growth
businesses which now account for 30% of
India growing at 30% that would be the
guidance Well for now the market is
looking very good the Nifty is climbing
by the minute the problem with Ean oxide
is if it’s not treated
properly remnant of it can stay in the
product which is exactly what happened
this time what highly placed sources
within the government are telling us is
that this should no point should be
construed as access Spectrum which is
traditionally auctioned looking good for
the markets today we’re still below that
22,500 Mark but a lot of individual
Parts which are moving
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around well that’s the day so far it’s
another good session overall for the
market I have to say that we are coming
to you live from the cvit TV8 M Studios
this is closing B Prashant with me my
colleague Su and Nigel guys hi good
afternoon hi afternoon guys to both of
you again screen that’s looking similar
to yesterday where midcaps are doing
better off the market breath is good and
of course earnings reactions are getting
you know either rewarded or completely
sort of Cl clobbered whichever way
things go no absolutely no no uh room
for uh misses essentially it’s actually
been good afternoons right I mean couple
of afternoons we are going into the last
St with the markets trading strong let’s
see whether or not we can drive home the
advantage the Nifty bank will be the key
factor to track because the plays out
the weekly expiry absolutely and I think
for I think HDFC Bank more than anything
else in a way holds the key because even
yesterday the rest of the market was
okay the rest of the Nifty Bank was okay
it was only largely HDFC bank which was
contributing to that pressure uh well 15
1513 or so on that one just a quick uh
three three four points on the state of
the market uh so Nifty is now past all
resistances I mean you know the 3850
61.8 we are above that uh these are
Fibonacci retracements a th000 point
fall and we are as we speak in this
resistance Zone which is on your screen
22427 to
22503 uh you take this out and then
you’re looking at the all-time high at
775 broader markets Bank Nifty beg paron
just a quick word on that that is also
by the way above the 61.8% retracement
that was 48 uh
48,1 uh 11 broader markets doing well
0.6 to 0.8% gains across the board and
if you you want to look at sectoral
indices metals have come back into some
Limelight action and we’ll talk more
about that and psus are really sort of
doing well so uh all kinds I mean all
really sector agnostic as far as psus
are concerned but that’s a space which
is in the Limelight once again Su oh
yeah absolutely PSU is doing well uh the
bank Nifty is actually holding on to
that gain of half a percent as well but
all a lot of individual stock reactions
that are sort of responding to earnings
one way or the other the positive ones
today include
SED dlm 6% up on that stock nipon live
just came out with numbers a while back
and the street is liking what they’ve
seen so for five and a half% up on nipon
life as well uh on the flip side you’ve
got a Tata LXI that’s still nursing
those losses of about 4 to 5% there’s a
361 again positive results and the
Market’s liking it so it’s all very very
event driven and earnings driven
triggers driven uh so to speak but just
to talk about some of the psus which are
sing which are shining bright and
Standing Tall today HL would be a case
in point nmdc sale uh there’s mrpl which
is up about 9% right now so basically on
the PSU side of the market is thriving
as has been the case on most days Nel
well that’s right and the metal stocks
as well are firing away and we’ll get to
Quick analysis on that front for the
time being let’s find out how do you
trade the final hour of trade you have
mes takar who’s with us well mesh good
session BB say we’re not able to take
out the 22,500 odd Mark we’re going very
very close to that it seems we’re in a
bit of a band uh how would you trade it
closer to around
22,400
um I think you know um the the major
problem here is uh the nonability to get
past 2 to 500 the rest of the pack the
rest of the situation is very very
positive I think it’s only the uh index
you know which is showing some signs of
worry my belief is that I think you know
overall this is not a bad Market but
since the index has got a resistance
point which it’s respecting I think the
idea should be to you know um avoid the
index and look for opportunities
elsewhere the broader Market in the
breadth is definitely showing uh
amazingly good traction so in that sense
I think you know that’s a plus Point uh
having said that I would also you know
want to recommend to metal stocks I
think you were just discussing the metal
names and I think you know that’s the
sector which is buzzing very strongly
that could do well and I have a buy on
NM DC with a stop at 240 for targets of
260 and hindalco is the other one which
I would recommend buying keep a stop
just below levels of 617 616 here and
look for a target of
660 okay all right couple of metal
stocks there technically looking good
thanks mes for that well let’s welcome
prakash tan into the show hi prakash
good afternoon and good to see you when
prakash I wanted to uh you know get your
view on the metal space but for the time
being let me just take the viewers
through why in fact the metal index is
on fire today both fairest as well as
non-f farest players they are rallying
let’s address the Tailwinds first for
the non-fair players the dollar Index
cooled off the US and the UK well they
have imposed restrictions on Russian
metal trading on exchanges now we have
copper aluminium zinc prices all of them
are at multi-month highs as Supply
concerns persist there’s also potential
higher demand that is expected from
sectors across EVS as well as
infrastructure
but what’s working for Ferris names then
you know the Singapore May irono Futures
they have jumped up to around $118 per
ton earlier this month it was sub $100
per ton so that’s one big factor and the
key reason for today’s bounds is that
the fourth largest irono Mina that’s
fusu they have missed the guidance for
the past quarter they’ve also trimmed
down on the outlook for annual shipments
now key beneficiary to higher irono
prices will be nmdc while domestic FIS
players well they’re better players on
Rising iono prices and let me explain
this in further detail why are domestic
players well placed when iono prices are
moving up sale and Tata steel they’re
backward integrated so all the io is
coming from captive sources jspl as well
as jsw steel they’re partly integrated
now along with better availability
there’s also ion no pricing Advantage
here in India steel spreads could also
get a bit of a booster shot there are
reports that suggest steel price hikes
are being pushed through cooking coal
cost well they’re much lower than what
we saw in the previous quarter on an
average average that’s quarter 3 it was
more than $300 per ton now it’s hovering
around $250 per ton and expectations are
that China’s production would be limited
exports will reduce in the second half
of this calendar year with the marginal
Improvement in demand that’s expected in
China which will be positive for the
steel sector on the whole well the other
stocks that are in Focus include Mo
there are expectations that price hikes
could come about because Global
manganese o prices have spiked up owing
to the disruption in the Australian mine
while infa as well is holding
because chomore prices have moved up
which will support feroc Chrome and infa
is backward integrated with chomore so
that’s the brief analysis on why feris
non feris and a couple of these plays
you know on the old front the mining
front all of them are doing well prash U
you know that’s a brief analysis with
regard to the metal stocks moving up
what do you make of it though they’re
moving on momentum you know I look at
the valuation chart and that’s why I’ve
not really put it up because they’re
trading at a premium in comparison to
those valuations so clearly the street
is playing momentum they believe there’s
a big metal cycle bull cycle in store
are you on
board so Nigel I think you’re right the
momentum stems from more from a Global
Perspective uh you know very clearly the
Genesis is more from the global
commodity Up Cycle that’s underway and
usually these Cycles do last quite some
time okay so the at least two quarters
is what you need to give it before uh
some sort of of normalization happens uh
you know the nonfer metals had already
started showing that sign and we
discussed this when you brought up nalco
we spoke about nalco and vanta being
absolutely in the right spot uh and and
they you know I’m sure invested rewarded
IND Alco Post Its last number earnings
call is actually moved up more than 120
bucks uh which is in less than three
months right so that’s the kind of move
that you have but this round if you
really want to play with elevated
valuations
uh I I would believe you straight away
go to the or companies nmdc of course
has its own share of benefits and
salience that’s working in its favor but
my favorite has been Mo and look at look
at where it’s touched today it’s made an
all-time high of 47 right I mean it I
mean was sometime during the day it’s
not maybe right now at that level but
given the fact that the kind of
replacement cost that you could
attribute to a business like this which
almost like a
monopoly there’s an or that is going to
be in demand given various usage you
know applications I don’t see any reason
why you will not see the momentum
continue and remember it hasn’t
participated uh you know as much as some
of the other well-known well discovered
metal names are or derivative names are
the mo has that you know the rally has
more legs and and from 300 zones we’ve
already seen 30% of an upside in the
very short period of time but I still
feel uh it’s it’s got some more to go so
look at structural changes which are
helping some of these companies and I
would believe steel would probably you
know be shortlived but the nonfer metal
names the larger names will probably
continue doing well and mo particularly
stands out with its own share of
benefits as the
EXP okay so that’s a view on metals that
prakash is taking by the way I just want
to point out eoda small Finance Bank it
sold off about 2 and a half% after the
numbers came in and that’s because of
slight asset quality issues the gross NP
has gone up quarter on quarter um and
the absolute terms also the NPA levels
are higher the gross NPA is now at
2.6% versus 2.5% and in absolute terms
the number of or the absolute sort of
quantum of bad loans that’s increased
quarter on quarter is about 9 and a
half% and the street obviously is sort
of not too happy with that otherwise U
numbers were okay but prash good
afternoon talking about numbers we’ve
got some sharp reactions today Tata LXE
down Tata consumer down scient dlm
people have really liked
uh and then there’s MCX as well I mean
where at least a lot of those operating
costs have come under come under control
now that they’ve migrated to the TCS
platform but any of the interesting ones
you care to give us your
views uh good afternoon s so you know
very clearly if you if you look at uh
some of the disappoined numbers uh and
and that’s where the opportunity always
arises people had too much of an
expectation pencell into T consumer
numbers tataa consumer has been doing
all the right things in terms of uh
expanding the product white labeling so
many of their own products and given the
kind of you know expansion of the
product portfolio it is bound to have a
phase where it’s it’s going to take a
pause it’s it’s not going to keep on
growing at a you know scotching case but
you you also have to understand that
this is the company that has transformed
itself in the last couple of years and
the interview with the management very
clearly tells you the new levers that
they working upon and and it might take
some time maybe a couple of quarters for
that to happen but it will probably get
into a very high growth trajectory post
those two quarters and I think overall
if you see the consumption the Staples
and the discretionary uh the non-
discretionary consumption pattern it’s
still not picked up maybe post Monsoon
you’ll probably see that and a lot of
spending that happens around the
election campaigns will also start
percolating down into spend in some of
these product categories but you’ll have
to give it some time I I don’t think the
H the consumers the ders of the world
have yet woken up from that Slumber that
we’ve seen uh but at some point the the
sector rotation in the market uh and and
this happens every time the market is at
close to New highs right so people keep
looking for newer themes newer ideas
newer triggers and that’s that’s when
some of these will start kind of playing
catch up very ferociously so I would
believe you know the disappointment in
the tataa consumer numbers is is a bad
it’s about overdone you’ll probably see
some sort of normalizing happening and
and and that’s an opportunity for people
who don’t own it to add up into the
portfolio uh got that prakash you know
you want to listen into the next one as
well because this perhaps uh is has also
got implications for Resource company
coal India is what I’m talking about now
sources tell CNBC AAS that the coal
ministry’s internal reports are raising
demand concerns uh see lakman Roy is
here with the with the details now
lakman what we’re talking about is
demand of take concerns for coal India
not for coal itself because I mean of
course we still building out thermal
power plants but the off take from coal
India perhaps uh in some of these
internal assessments of coal India
coming under a bit of uh Cloud take us
through what you’re picking up
64.4
million
242.4
million non
power
77.2
million 44.4 billion T Ministry
assment captive BL
69126
million
44.5 captive
blocks producing min
69126
Million last Financial
year1st fin
assment
question
so that the production can fall by as
much as
58% Ministry thought process how to you
know help out Co India action plan or is
it too
early last to second last Financial
year 22%
fin2 43
thank you very much lakman for joining
in and giving us all of those details
well prash I wanted your word coming in
on this you know coal India people had
concerns with regard to the ESG concerns
that got brushed aside the stock from
150 went to around 450 in the near term
the Big Driver is going to be the
premium of the e auction sales to FSA as
of now going by lakman story you know
it’s if in case that does make place and
demand Falls drastically then obviously
it’s curtain down for coal India but the
stock price is not really corrected so
the street is still factoring in that
coal will still be in demand what’s your
take at on this 445 and how big a fear
is it for coal India
shareholders so very very interesting
debate this is going to trigger actually
Nigel and I’m sure you you’ll have lots
to speak on this in the days to come
uh uh let’s let’s understand what he’s
talking about is not cold demand coming
down it is the contribution from coal
India to the overall demand in the
nation that’s going to be a shift that’s
going to see a little bit of a shift the
reason why the co India stock does not
get impacted or is not showing any
negative reaction to this anticipated
slowdown is it’s still available at just
about 2ak 75,000 CR market cap which
bases 12 months TTM kind of number
numbers is is still less than 10 times P
multiple you don’t have any energy stock
which is into the primary energy source
of this scale globally that would be
available at such low valuations U so so
there’s very clear valuation comfort and
what drives a stock price is more of
earnings if the profitability continues
to be better and and they become much
more efficient with the kind of
investment that they are making in the
entire value chain I don’t see any
reason why you know the P multiples
would not expand in fact so on an
absolute basis it could be a drop in
Revenue but as he said you know the
sliver and and the Joker in the pack not
just a sliver is going to be the CBM the
the coal based mean projects that are
likely to start seeing fru so you know I
I don’t see any reason why Co India’s
contribution to certain other things
won’t grow while this there’s a let up
in in in in the demand uh as a
replacement from captive mins because
it’s more steel companies cement
companies which are looking at captive
usage consumption of coal in power as as
a sector I don’t think is going to come
down given that we have huge targets and
Renewables will have its own pace of
contribution to make up for the
shortfall SO gas will come in wind and
solar will come in but coal does have
its role to play and and as I said there
could be other things that could open up
for them and that’s what the market will
kind of definitely start visualizing so
I don’t see any reason why Co India you
should be disappointed with the
performing in fact you’ll continue
seeing uh this rally forward and
outperform the Market because growth
rates are far more the anticipated
growth rates are far more if you look at
the con he the con calls you’ll see what
they’re talking about I don’t see any
disappointment from from the stock price
atast yeah absolutely it’s been a at
least 100% gain in just the last 12
months triple four on Co India today
it’s been a dream move for this once
unloved stock um prash on we’ll have
some more questions let’s focus on the
Nifty winner now and spla is the one
that’s charging ahead a gain of 3 three
and a half% in wtech has initiated
coverage on the stock they have a target
of about, 1550 stock is at, 1400 right
now so they’re still expecting at least
10% upside let’s go across to aa aa what
is making investtech uh you know quite
confident and bullish on on Sia well yes
top gain on the Nifty this afternoon uh
investech is bullish they have initiated
a long fast in zla they believe that the
10% fall from the 52 week high is likely
due to the anticipation of amn’s entry
into the drug alol which is an inh drug
in their portfolio and a likely weak Q4
due to a muted India now amneal’s entry
could happen soon according to um uh
according to the note and SAS dependence
however on the drug is low so alol for
example is around 7% of the FI 24 beta
the impact on the EPS is likely to be
low even with the entry of a new player
we see the possibility of upgrades for
f524 and 26 this is as spla delivers on
key pipeline of drugs so they have for
example multiple dep ties adver generic
a breaks on generic in their portfolio
us generics macro which continues to
improve when it comes to valuation
suppli trading at around 20 times fi 26
estimated PE versus their SE sector
coverage at 26 times and domestic
branded Focus names at around 32
times okay got that thanks very much AA
for that prakash Sia any
interest oh absolutely I think it’s one
the top lunch companies in the farmer
space um all the mistakes of the past
have kind of got obliterated in in in
terms of you know all the new launches
that they’ve done so successfully and
the respiratory portfolio still holds
way over a very margin accretive segment
so I I don’t see any reason why uh there
could be this of course there this
corporate action which is still awaited
some sort of an outcome is expected in
terms of finding who uh is the likely
suitter for Supply but apart from that
you know the general Tailwinds that have
been there we’ve witnessed in the last 6
months for Pharma will continue to
translate into very strong headwinds
should be all the large companies where
be it Lupin be it sun farma Sia redy all
of them are getting into a reset because
of the stock balance sheets that they
have I think it’s a cycle that’s turning
very favorable spla of course is one of
the well-run companies but don’t expect
it to outperform the sector because uh
they the company usually does not
have okay I think we lost the line there
uh just even as prash was
talking prakash we leave you we we leave
it there for now if you can hear me
thank you very much for joining us uh
it’s a pleasure having you and speaking
with you as always uh the market I think
is up about 45 points which means it’s
off the highs by quite a bit uh 22,400
though still holding on to it’s quiet
and this is a point that we’ve been
making for the last couple of days that
maybe into this resistance Zone uh and
just look looking at the overall setup I
mean us has been recovering Etc but uh
you know it’s U some the other parts are
not moving equities have moved up in the
US last two days a percent each uh but
generally otherwise uh it’s been a bit
quiet at least in the index that is we
take a break we’re back with Adit
portfolio manager at incred PMS on the
other side stay tuned
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welcome back well two of the big gainers
actually yesterday are losing vone ideas
moved to the low point of the day you
have nbcc as well that’s slipped a
little bit so both of them are seeing
some bit of selling pressure let’s focus
on Chennai petrol that stock is rallying
after posting a good set of quo numbers
Sona joins us to give us a quick
analysis Sona well yes it is a good set
posted by chenai petroleum on a quarter-
on quarter basis we have seen a revenue
growth of 2% the Abida has grown by 53%
and margins they higher by around 200
basis points to come at 5.88% profits
also accordingly have seen a surge of
72% now this was something which was
expected because Singapore grm they
improved on a quarteron quarter basis to
come to levels of $7.9 per barrel and
even Chennai petol grms this time around
have come in similar to those level $7.7
per barrel this Compares with the
negative grn number that the company had
reported in the quarter gone bu also
remember this is the surge coming in
after a low base that these companies or
Standalone refiners saw in quarter 3 but
if you look at the margins again uh they
are of course better than quarter 3 but
still lower than quarter 2 levels which
saw exponentially High grms and as well
uh what the street also likes is the
fact that the company has gone ahead and
announced a dividend of 55 rupees per
share which means the dividend yield of
5.2% and that’s why the street is
cheering these uh these numbers and mrpl
also is doing well on in trade on the
back of good numbers coming in from
Chennai
petrol okay uh so thanks very much for
that these I mean there’s no small moves
for these names right Standalone
refiners uh go big or go home that’s the
Moto uh pretty much all the time around
results or otherwise and uh you got mrpl
and cpcl both now big sort of doing
something really large as far as the
price action goes our Alpha manager is
adya Su portfolio manager at incred PMS
ad good to have you with us here thanks
very much for your time uh you know I
think in our conversation earlier you
had mentioned that you own Tes networks
and you kind of sort of you said that
you added onto that name uh stocks done
very well we had the management with
with us early on as well talking about
uh you know the business
opportunity how is it placed valuation
wise just talk us through you know your
thought process F525 is going to be
another very large year because of
execution of the remainder remainder of
the BSNL contract that should be worth
about 7,000 crores uh just that order
f524 revenues were about 2400 crores
your thoughts on this one
ad sure so you know we have been fairly
constructive on the Pro Prospects of you
know
manufacturing you know as a theme um and
obviously Tes benefits um onto accounts
one is the P bit um you know obviously
they get 6% PL as a percentage of their
overall incremental revenues and we have
seen pla flowing through in the last
quarter uh when uh very notable fact is
that you know T just was under
tremendous pressure for last four or
five or multiple quarters on account of
you know elevated semiconductor cost uh
you know which is essentially a raw
material for them and we have seen that
normalize in this quarter um as far as
the ramp up is concerned you know I
think so it is a very well acknowledged
fact by the street now that they have
only executed 10% of what needs to be
executed more importantly in terms of
capability and that is where the key
lies um you know uh they have been a
very successful uh fixed line uh company
Telecom equipment manufacturer but
Wireless is something that they are
doing for the first time and BSNL is a
very large order now if you look at the
spec of their tender you know 4G upgrade
gradable to 5G over a period of time and
what they’ have mentioned is that you
know essentially 40% of the one lakh
towers that are targeting would be
upgradeable to 5G and then there is
element of AMC cost as well all that
with everything put together I think so
there is a long rope in terms of you
know the order backlog that they have
order backlog has gone up 6X uh you know
ever since uh the tatas have acquired
the company more importantly this is
about stepping up the wireless
capability I think so the stock will do
reasonably well it is a well
acknowledged fact that possibly you know
you are looking at next 6 to8 quarters
execution to go through and
profitability is going to be in the
range of cumulative profits could be as
high as you know 1,000 crores that is
what our estimate
is AD hi good afternoon great to have
you on today you know I also recall from
our last conversation you were telling
us that you’re actually taking a
favorable view on uh some of the fmcg
names as well some of the the consumer
names and now we’re running into the
season I mean not to get stock specific
but obviously Tata consumer flagged off
some concerns because that’s a little
more discretionary the beverage side of
their portfolio and there the numbers
were not as good as what the the street
perhaps had in mind but uh what are what
are the expectations that you’re going
with I believe you’ve you added H if I
remember correctly maybe even daber you
have that in your
portfolio yeah that’s correct uh you
know one is that you know we have got
this belief that you know if one one has
to buy uh you know if one has to buy
great companies and typically you know
consumer has been a great story in India
to be placed as a you know investor you
have to buy them when there are
headwinds in the sense that you know
most of the multiple compression is
behind you lot of the consumer
categories depending upon you know
whether we are focusing or or whether we
are talking about you know consumer
staples or low unit consumption here I
think so we are already we have already
seen six quarters of slowdown playing
out at this juncture our view is that
you know possibly you’ll see some
Rebound in terms of volume growth there
are early signs of that playing out
there is some bit of respite with gold
going up and with balance sheet repair
which is going to you know obviously
lead to you know respite for the rural
consumer particularly uh also rural
wages have you know just normalized in
the the sense that they are back to the
preo level so our view is that you know
valuations are much more reasonable
volume growth uh should do well and Any
Which Way consumer is a defensive sector
to be in with you know sector having
massively underperformed for last 18 to
24 months we believe that there is uh an
opportunity to uh you know put allocate
some money or to be overweight on low
unit domestic consumption
names okay all right hi Thea good
afternoon and good to see you when uh
what else do you like uh you know
consumption at the lower end has slowed
down but the upper end it’s uh you know
everyone wants to consume a better brand
whether they it’s in terms of apparel
watches uh you know
liquor whatever you refer to uh how are
you all playing this theme of the luxury
segment doing much
better sure so you know we we have
exposure and you know Arin fashion you
know which we have
recently invested into I think so as you
rightly mentioned there are some
categories wherein there is down trading
happening but at the same time what we
are function what we are witnessing is
that you know there is up trading which
is happening as well so we like Arin
fashion and the space I think so they
have got a very uh good franchise of
Brands uh they have you know sort of
whatever mistakes that they have done in
the past in in the sense that you know
they have you know done away with
unlimited which was obviously they were
losing money they have rationalized the
brand portfolio we believe that the
return on invested Capital can improve
very sharply from here on the valuations
are very very attractive um so we like
you know luxury consumption also as a
play the only thing is that you know if
if you look at you know companies like
for example Landmark
um what what one has to be mindful is
that you know lot of these luxury
consumption businesses are cyclical so
the first point that we would have to
figure out is that you know when we are
at the top end of the cycle and and the
answer really lies is that you know
whether you you want to allocate as a
investor for next three years or
possibly next 5 to seven years I think
so luxury has a long way to go go and
you know the way U it has been
demonstrated in certain categories like
including watches for example um you
know I think so the uh the category has
you know legs to it there is no doubt to
it and this is the first time you know
wherein we are experiencing larger
luxury Players let’s say Louis Vuitton
or or a Rolex taking a market like India
very very seriously and that gets
reflected in the footprint that they
have in
India since we’re on the subject and you
mentioned Arin Fashions you know I must
ask you about the adya Bera group’s own
sort of moves in on this front right
maybe they took a lesson from the tata’s
books seeing what happened to Trent and
now we have that business demerger you
know getting along uh any thoughts I’m
not asking for a stock recommend
recomendation but just any thoughts on
how this other B business conglomerate
is now looking to unlock more value do
you think that can happen and in terms
of valuations I mean I don’t know was
was Trent a very unique phenomena or do
you think something like an arind
fashion or even an ad you know Fashion
retail it can actually scale up in a
similar
way so if you look at uh Sur essentially
the evolution of West Side in this
country right the key lies in you know
how much is full price sales for a
retailer so as as a Westside consumer
you you always felt that you know
possibly uh you never felt the need of
having a discount if you walked into a
west side and this then there was a fast
fashion learning as far as Zara is
concerned and this is what they have
tried to implement in zudio U you know
and obviously you know zudio has been a
huge success uh for for for the adya
group and that is why for the for Tatas
essentially um so our view is that you
know once you see full price sales going
up in in any format and once you see
right sizing of store you know footage
area that becomes a very very powerful
combination to consider in a retailer
essentially so as far as more focus on
you know productive Capital allocation
is concerned and what we are seeing in
the case of mudra that all those you
know sort of moves are very very welcome
as far as the market is concerned
because essentially what we are trying
to analyze as in investors is that you
know how many brands are scale and
subscale at the same time we also want
to see sharper focus in terms of return
on Capital employed when when you know
large fashion house like AR fashion is
you know allocating Capital because they
will typically have you know multiple
Brands so sharper focus is always
welcome in terms of you know either the
multiple reating or earnings growth
potential okay all right uh a we leave
it there thank you very much much for
your time good speaking with you and uh
appreciate you joining us here on CNBC
TV8 today well I think uh the market is
uh down 25 is up about 25 points which
is it’s a long way off from where it was
early on so it’s been a slow kind of a
descent uh not a sharp one uh but it’s
a slow but a sharp sort of fall from the
high let me put it that way
22391 is where we are at right now which
basically means that we are almost back
uh at the 61.8% retracement which is 6
22394 so you’re right there uh let’s see
what the close is like I mean doesn’t
matter one or two days but the point is
uh you know we said this at the start of
the week slow steady kind of a move
after what we’ve had especially last
Friday perhaps is the most desirable
kind of a thing so that’s what we have
be I just wanted to add to that uh you
know Prashant Cole India by the way I
guess uh lakman putting out those
concerns that are doing the rounds in
the coal Ministry uh the stocks cooled
off should uh yeah there we go so it’s
now up about half a percent the concern
being that once a lot of these captive
mines go on full stream Full Throttle
will demand of for coal from coal India
itself whether that will go down or not
that that was the story that he put out
so you know we’ll have to uh see how
exactly these captive mines do ramp up
because some of these mines they came up
for auctioning around 6 7even years ago
as well there have been various phases
of auctions as well in the past and some
of those auctions didn’t get any biders
so some of these companies yes that is a
risk to them because if they start
producing from their captive captive
coal mines then obviously coal India’s
demand goes down the other factor is if
there is more amount of Renewable Power
that comes to the table then that as
well is another risk to Coal India so
for the time being you know the stock is
down half% as you said or thereabouts
but if uh the worst fears come through
then the stock should be down far more
but at current valuations I think it’s
getting some support and I guess since
it’s been such a big party for all India
I mean sometimes you get news and inputs
and then people decide to take some
money off the table so perhaps it’s just
a little bit of that that’s playing out
okay let’s quickly move on to D Street
chatter we have NES joining in as always
with all the insights from dealing Rooms
Today NES again this is a session that’s
looking very similar to yesterday
because in the last one hour the Nifty
started cooling off while the midcaps
were doing better what are you picking
up today well you know again uh looks
like uh you know s there is a resistance
on the Nifty around that 20 to 400 level
Mark that happened yesterday as well and
that’s playing out today’s in today’s
market as well so a bit of cool off
after the after the Gap up opening but
from a flow perspective again it’s a
strong day uh there is buying interest
largely now into the midcaps midcap
stocks as well the midcaps are well bid
from a flow perspective in today’s
market I guess the big sector of the day
is Metals n Nigel explained a lot about
the metal stocks buzzing trade but again
you know the key factor is that there is
such a strong Global manufacturing data
which is coming out that’s been that’s
been seen positive for the metal Lim a
big move in that in that stock from a
flow perspective from a sector one I
guess Pharma is a sector which is well B
in the in in today’s market so lot of
farma STS are buzzing on on on cash B
buying from larger affes but from from
overall Market perspective looks like 24
22400 is acting as a very strong
resistance NES what about individual
names well so the first stock on my list
today is the delivery there was a large
Block in pre-open today nearly 2 and a
half% equity got change hand so I
understand the private Equity investor
was a seller and couple of large fi
investors bought in today’s block deal
so the disclosures could be quite
interesting and delivery in today’s
market so that’s the first one the
second name is graphite that’s been
buzzing off late it’s actually cooled
off in in today’s market but there are
very strong by flows I understand a
leading hn investor he’s an active buyer
as well in in graphite off late so
that’s the second name the third name is
HDFC life uh that’s been under pressure
today larg and big big sell flow so
expect very high delivery volumes in
HDFC life in today’s market and the last
is couple of cash stocks taga real and
as well as Castrol both are seeing very
strong delivery based buying in today’s
market so look like some bit of you know
fi interest is back in cash stocks and
these two stand out in today’s market
purely on buying interest from larger
fi all right uh thanks very much nsh for
that you know you mentioned HDFC life
look at I life as well 3% lower on that
one uh and look at Max Financial
Services Max uh got a upgrade uh I think
there was an upgrade from clsa
initiation from ambid uh stock ended
flat and today it is down about 3% or so
so uh there is of course I thre of
course reported numbers and uh HDFC life
uh before that we’ll uh slip into a
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e e
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welcome back you’re with us on closing
bell and uh the market continues to cool
off a little bit at the Nifty level uh
just watching some stocks as of now the
cut on Tara consumer is a little deeper
5 and a half% gone from that stock no
sign of recovery and then you have a
couple of giants like uh TCS and infosis
from the large cap it space and and
Reliance so together the this Trio is
enough to put pressure on the market
days low on TCS as well over there
playing out okay so that’s the large cap
space let’s move on we have some updates
coming in on ubl as well that’s one
stock that’s moved higher after hanekin
releases uh its update for the January
to March quarter so what is hanin’s
first quarter calendar year 24 update
saying let’s ask sashan sashan so uh is
consumption beer consumption picking up
in India is hin happy with how their
India Ops are doing I can’t say that but
I can say that ubl is currently up 10%
and almost the entire gains have come
since the time we have highlighted about
hanin’s q1 update and in its update
hankin says that India business beer
volume growth has come in low teens now
it’s important for ubl because ubl with
its Q3 earnings it said it sees mid to
high single digit volume growth so
hanin’s volume growth has come in higher
than U’s guidance that company had given
for Q4 and just if you look at the last
three quter volume growth in q1 FY 24
U’s volume had fallen 12% in Q2 it was
up 7% and in Q3 it was up 8% so if it
comes in low team it would be higher
than the last three quarters that
company has seen and also hen says
premium portfolio volume has growth in
low 20s and it was led by King Fisher
Ultra and henen
silver okay all right got that thanks
very much I wonder which of you three
gentlemen have contributed I know I
haven’t but I I don’t know which are the
the other three gentlemen on TV with me
today I think sashan is sashan he has he
has the widest grin I think Sudan’s The
Man He’s Downing the
beers I’ll tell you one more data point
you know today uh United Beauty’s market
capitalization has cross 50,000 cres
post this big move so that’s another
highlight but consumption keeping a
close eye on
I mean with on all formats of
consumption with this sort of heat
uh you don’t need any additional
triggers okay guys let’s bring it back
home thanks sash by the way beers are
not hydrating I mean it dehydrates you
important to keep the science of it in
mind as well but let’s uh quickly move
on and go back to mes for some final
trades before the day closes over mes
you tell us I don’t know if UB is on
your radar or not but uh any of the
stocks that may look interesting
I miss U today but uh what I’ve got or
what I’ve suggest is glenark Pharma I
think that’s closing in the day high so
btst here with a stop at 1063 and a
target of
1090 and gas Authority Gil is looking
good as well so btst here with a stop at
206 and we will look for a target of
around 210
210 okay uh thanks very much mes for
that well axis bank will be reporting
numbers later today postmarket hours
abishek is here with were the key
expectations from this one abishek take
it away uh well prashan street is
anticipating the slowest ni growth rate
on a YY basis in last 10 quarters so the
key things to watch is that sequentially
analysts are expecting deposit growth to
outp L growth so deposit growth as per
analyst estimate is at 6% while L growth
is estimated at 4% what could keep the
net interest margin on the healthier
side analysts are saying that Lan growth
will largely be led by High uh you know
yelding retail loans or the unsecured
portion loans uh net interest margin can
come under pressure Morgan Stanley is
estimating a 30 basis point decline Yi
in net interest margin and about nine
basis point decline on a sequential
basis uh so slippages can D on a
sequential basis now KK Securities
estimate slippages of 4,300 CR invest
Tech at 4,000 CR which was about 3,715
CR in the previous quarter for access
bank so slippages can rise but asset
quality will largely remain stable MOA
losal expects gross NP ratio and net NP
ratio to be flat on a sequential basis
near term growth Outlook and the net
interest margin progress would be the
key thing to watch from the management
commentary our poll suggest an a growth
of 9% Yi and about 2.2% sequentially we
are working with a profit of 6,27 crores
this compares to a loss of 5,728 CR in
the same quarter last year and it will
be up 2.2% on a sequential basis back to
you
okay all right got that thanks very much
abish we’ll watch out for those numbers
we’ll be out after market hours mayores
ji head of equity research at William
O’Neal is with us May thank you for
joining in uh you know I want to talk to
you about a large midcap stock which was
once the market darling Tata Alexi we
all know numbers today disappointed but
uh any sort of wider view on this it’s
cooled off significantly I was looking
at the you know 2-year highs I mean the
stock was quoting above 10,000 at one
point in one point in time it was a much
loved play in a lot of portfolios but
quite seems to quite a lot seems to have
changed since then your view afternoon
Sur no you’re absolutely right I think
from the Peaks a few months back it has
corrected quite significantly and the
numbers that came in yesterday uh were
soft so there is no two ways about it so
the expectations of uh Market
participants in terms of recovery
specifically the R&D space within the
midcap it companies I think this is one
hot space where a lot of analysts are of
the belief that as Mobility picks up
quite significantly uh and as the
content per car starts going higher
across geographies companies like Tata
Alexi should probably benefit but I
think the numbers have been soft and
that’s the kind of reaction that you
probably seen the other end of the
spectrum would be it’s p kpit tech as an
example has done exceedingly well now if
you go by every passing quarter and the
commentary thereof numbers seem very
very encouraging the kind of tie-ups
that they have done the order book that
they have setting out of the management
confidence that theyed out of in terms
of the margin performance itself and
expectations of maintaining this over
the next few quarters is probably
justifying the premium valuations and
the move uh that kpit had the
outperformance thereof with Tata Alexi
as well so to a certain extent I think
ERD the space I think two spectrums that
you’re probably seeing Tata Alexi is
clearly uh disappointing in terms of
numbers expectations kpit is probably uh
satisfying at least Le till last quarter
how the number Stack Up is proberbly
happening uh so I think pick and choose
I think at this juncture but kpit
valuations on the head set and momentum
is a little bit too much for
Comfort okay all right uh hi maish good
afternoon what about uh AIS Logistics uh
do you track that company the stock is
seeing a big big move I understand flows
as well are quite strong it’s moved to
the high point of the day any view out
there afternoon Nigel in fact I’m just
going through that in the morning itself
and both their divisions have done
surprisingly well 9 months f24 so their
gas division and their liquid division
have posted the highest AA uh in in the
company’s history again the expansion
plans Nigel that they’re going through
specifically I think the liquid storage
if I’m not mistaken they’ll come close
to around 1.9
1.95 million kilers as well as the gas
division which they’re probably
expanding in both pipa and mangor uh
close to 1 lak 125,000 metric tons I
think all these capacities as they start
coming on stream and the expectations in
terms of the sourcing that they also do
in terms of their gas requirements the
margin profile uh is expected to remain
extremely stable now with more
capacities coming up and the incremental
capaity which will start adding to the
overall volume growth in the next few
quarters uh I think that should drive
strong profitable growth as well across
the divisions so both liquids and gas
should probably have that and therefore
I think the entire perspective that one
brings out in terms of eps growth should
be pretty solid so yeah I think the move
is probably getting backed by numbers at
this
juncture okay uh also waiting lever
numbers we should just pull up the uh
the poll Graphics the poll that mangum’s
drawn up for us uh because we are
expecting again sort of pretty flattish
Trends uh with respect to uh the
expectations this time around maybe sort
of low single digit growth in terms of
volumes let leave her very choppy and
flat right now uh do have to take a
quick break we’ll come back and discuss
of course the prospects for this talk
and several others we will be in our
last leg on closing Bel today well
here’s a special programming note and do
keep this in mind our special Friday
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[Music]
e
e
e e
[Music]
welcome back so I was U talking about
lever the expectations are that there
will be about a 2 to 3% volume growth
this is Mam’s poll that he’s put
together marish very quickly you know
this sector has been left out in the
doldrums for a long long time do you see
Q4 pointing towards any recovery and
what’s your current weight on it I mean
allocation weight to
fmcg we are neutral uh Sur and I think
the reasoning is pretty simple uh our
belief is that numbers across the space
Alit one or two instances which might be
outliers will still be soft a large part
of the volume growth on the fmcg market
comes from rural India and roal India is
clearly struggling at this juncture you
had seen deficient monsoons last year
the discretionary spending has come down
and therefore a huge bulk in terms of
rural discretionary spending will
reflect in lower volumes now is there a
genuine recovery that one expects uh
again it’s a twofold answer one I think
in expectations of a normalized monsoon
this time around if that takes place and
fingers cross it does you will see a
good sharp recovery happening in terms
of rural incomes in the second half of
this calendar year and therefore an
Earnest recovery from quarter 2 quarter
3 onwards for a whole host of fmcg
companies the other aspect obviously is
that volumes have also remain tled in
terms of either increase gramage that
these companies have done and in spite
of input cost increases which have now
stabilized to a certain extent the pass
through was not very very evident so
both volume and value is something which
will be lagging in most of fmcg
companies valuations are Sky High again
it’s a defensive sector where Market
becomes volti but our take is q1 onwards
I think you will see some element of
positive commentary leading to a better
reating in the
second okay Mish you know talking about
fmcg lever should be reporting anytime
now right mangalam is here for last
Quick preview key expectations mangalam
over to
you that’s correct you know so I’m at
the uni office results should be out
anytime the next 15 to 20 minutes or so
as the management preps to address the
media a couple of things that the street
is working with this time around most
importantly not much has changed in the
macro situation right now um rural is
still slower than Urban and at the same
time the companies are taking price cuts
to propel volume growth so net net
volume growth and price Cuts will offset
each other resulting in flattish sort of
Revenue growth itself for uni in
particular the street is working with 2
to 3% volume growth uh minus 2% price
cuts that the company’s given uh 150 to
200 basis points gross margin
Improvement because of raw material
benign raw material en
but importantly higher ad spends for uni
Li along with you know royalty and
expiration of the deal that they had
with GSK will impact their eitaa so net
net we’re expecting a flattish sort of
Revenue performance 14,850 cross on the
top line eitaa down by about a% 3400 and
uh we’re looking at margins at around
23% with a net profit down about 4 and a
half% importantly apart from the
quantitative numbers that the company
reports this time around one will be
looking at management commentary on
demand going forward especially because
you know we’re speaking ahead of general
elections noral Monsoon is the
prediction so is there any Improvement
expected in the very near future is
something that the street will be
looking at largely because the stock has
been an underperformer uh over the last
four years or so it has given virtually
uh no nil returns and is trading at
around 46 times so is not at a big
premium to its historical valuations as
well okay all right manglam thanks a lot
for that well I think we have may still
with us may very quickly if you could
tell us about the cement pack we have
Dal Barat that will be reporting its set
of numbers you know post Market hours
the numbers ain’t expected to be good
and the intraday drop is telling you
that as well how do you expect uh the
stock to
perform I think we’ll have to wait and
watch for numbers Nigel to be very
honest and the expectation largely for
the industry as a whole is utilization
levels expected to pick up in the coming
few quarters uh a large element in terms
of input costs have largely stabilized
at this juncture you have sporadically
heard of heard of some price hies that
have been taken in some key regions and
therefore the expectations of an
improvement in terms of a reported AIT
per ton across the space is something
that is to be watched out for obviously
the stocks that we have got on our watch
list within the adani PAC ACC is
something that we believe can report a
decent set of numbers uh and JK cement
within the midcap cement space where the
white cement realization should be
better off numbers have been extreme
good so far in terms of both margin
performance and an absolute EV and that
performance should continue I think
you’re being a little bit more Choy
Nigel ACC from the large capap midcap
space
JK okay all right May thanks very much
for being with us today appreciate you
giving us all that perspective we are
down to the last minute minute and a
half of today’s trading session and once
again it’s been a session that’s all
about midcaps by the way interesting
thing look at the midcap index which is
up about 710 of perc but the small cap
index is not up as much and this is a
marked difference

Stocks trade firm and steady in a rangebound session. #Metals and #industrials are the big gainers, while #telecom and #IT are the soft spots. #Midcaps are the relative outperformers.

#marketclosing #sensex #nifty #sharemarkettoday #stockmarketupdates #latestmarkettrends #cnbctv18 #businessnewsinenglish #businessnewstoday #businessnewsinenglish #sharemarkettoday

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