Stock Market Updates: All Updates From The Last Hour Of Trade Today | NSE Closing Bell | CNBC TV18

Stock Market Updates: All Updates From The Last Hour Of Trade Today | NSE Closing Bell | CNBC TV18

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it’s an extremely positive start across
the Asia Pacific the Japanese Industries
are up over 2% and the reason why the
shares are probably up 8 to 12% is
probably because of the preone timeline
for new launches this year the support
for the Nifty comes in at the 22 340
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
yes the metal index took took a bit of a
Brea them but moile 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 R 776 SC we also
seeing increased business from cable
wire harness
22414 so like yesterday right into that
resistance Zone the last 5 years has
seen uh you know significant change in
the earnings loss the bo 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 aan 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 they’re still below
the 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 I’m Prashant with me
my colleagu surbi and Nigel guys hi good
afternoon hi afternoon guys to both of
you again a 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 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 star 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 it 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 thousand Point fall and
we are as we speak in this resistance
Zone which is on your screen 22 2 427 to
22503 uh you take this out and then
you’re looking at the all-time high at
775 broader markets Bank Nifty be pardon
just a quick word on that that is also
by the way above the 61.8% retracement
that was 48 uh 48,1 and uh uh 11 broader
markets doing well 0.6 to 0.8% gains
across the board and if you want to look
at sectoral indices metals have come
back into some Limelight action and
we’ll talk more about that and psus uh
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 uh
s signed 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 four 5 a half% up on
nipon life as well uh on the flip side
you’ve got a Tata LXE that’s still
nursing those losses of about four 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 mes good
session one would 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
good afternoon I think you know 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
uh avoid the index and look for
opportunities elsewhere the broader
market and 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 uh 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 fairis as well as
non-est 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 iron or 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 Miner that’s
fosu 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 placed on
Rising IO prices and let me explain this
in further detail why are domestic
players well placed when I prices are
moving up sale and Tata steel they’re
backward integrated so all the I know is
coming from Capal sources jspl as well
as jsw steel they’re partly integrated
now along with better availability
there’s also I don’t 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 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
will 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 moile 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 steady because Chrome
more prices have moved up which will
support feroc Chrome and infa is
backward integrated with chomore so
that’s the brief analysis on why Ferris
non feris and a couple of these plays
you know on the or front the mining
front all of them are doing well prash
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 a
big metal cycle bull cycle in store are
you on
about 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 a normalization happens uh
you know the nonfer metals had already
started showing that sign we discussed
this when you brought up nalco we spoke
about inalco and vanta being absolutely
in the right spot uh and and they you
know I’m sure invest got rewarded in
Alco Post Its last number earnings call
is actually moved up more than 120 bucks
uh Which is 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 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
alltime high of 407 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 uh you
know applications I don’t see any reason
why you will not see the momentum Contin
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
exp okay so that’s a view on metals that
prakash is taking by the way I just want
to point out EA’s 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
NPA 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 I good
afternoon talking about numbers we’ve
got some sharp reactions today Tata alxi
down Tata consumer down sent 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 disappointing numbers uh and
and that’s where the opportunity always
arises people had too much of an
expectation penel into Data consumer
numbers data 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 scatching piece
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 uh will also start
percolating down into spends in some of
these product categories but you’ll have
to give it some time I I don’t think the
H the cons T consumers the ders of the
world have yet woken up from that
Slumber that we’ve seen but at some
point the the sector rotation in the
market 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 go that prash 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 uh 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 are still building out thermal
power plants but the offtake from coal
India perhaps uh in some of these
internal assessments of coal India
coming under a bit of cloud take us
through what you’re picking
up
6424 million t
242.4
million non power sector top
50
77.2
Milli cap BL 44.4
billion min
69126 million t
44.5 producing
69126
mil
finst %
58%
assort that the production can fall by
as much as
58%
Ministry process how to you know help
out Co India action plan or is it too
early
last to second last
finan
22% last fin
72%
43% Ministry indicate
G
Cent thank you very much lakman for
joining in and giving us all of those
details well prakash I wanted your word
coming in on this you know Co India
people had concerns with regard to the
ESG concerns that got brushed aside the
stock from 15 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 obvious ly 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 around 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 coal 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 2
lakh 75,000 cres market cap which bases
12 months TTM kind of 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 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 visas it could be
a drop in Revenue but as he said you
know the sliver and and the Joker in the
back not just a sver is going to be the
CBM the the coal based mean projects
that are likely to start seeing solution
so you know I I don’t see any reason why
coal 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 mines
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 uh
come down given that we have huge
targets and renewable 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 here the con calls you see what
they’re talking about I don’t see any
disappointment from from the stock
price yeah absolutely it’s been a at
least 100% gain in just the last 12
months triple four on coal 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% investech 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 you know quite
confident and bullish on on Sia well yes
STP gain on the Nifty this afternoon uh
investech is bullish they have initiated
a long fast and zla they believe that
the 10% fall from the 52 we high is
likely due to the anticipation of amn’s
entry into the drug albuterol which is
an inhaler drug in their portfolio and a
likely weak Q4 due to a muted India now
am’s entry could happen soon according
to um uh according to the note and supp
dependence however on the drug is low so
alol for example is around 7% of the FI
24 aita 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 fi 24 and 26 this is as
spla delivers on key pipeline of drugs
so they have for example multiple
peptides ad by generic a breaks on
generic in their portfolio us generics
macro which continues to improve when it
comes to valuation ZL 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 notch 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 fa
over a very margin accretive segment so
I I don’t see any reason why uh there
could be this of course there’s this
corporate action which is still awaited
some sort of an outcome is expected in
terms of finding who uh is the likely
Suitor for supp but apart from that you
know the general tail WIS that have been
there we’ve witnessed in the last 6
months for farma will continue to
translate into very strong headwinds
should be all the large companies be it
Lupin be 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 SAA 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
any okay I think we lost the line there
uh just even as prakash 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 looking at the overall setup I mean
us has been recovering Etc but uh you
know it’s U the some of the other parts
of 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 ad
portfolio manager at incred PMS on the
other side stay tuned
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e
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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 slipped a little
bit so both of them are seeing some bit
of selling pressure let’s focus on
Chennai petrol that stock is ring after
posting a good set of quar for numbers
sonal joins us to give us a quick
analysis sonal well yes it is a good set
posted by chenai petroleum on a
quarteron quar basis we have seen a
revenue growth of 2% the Abida has grown
by 53% and margins they are 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 quarter on quarter
basis to come to levels of $7.9 per
barrel and even chenai petol grm this
time around have come in similar to
those levels $7.7 per barrel this
Compares with the negative grn number
that the company had reported in the
quarter gone by 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 margins as
well uh what the street also likes is
the fact that the company has gone ahead
and announced a dividend of 55 rupes per
share which means a 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 uh big sort of doing
something really large as far as the
price action goes our Alpha manager is
adiya Su portfolio manager at incred PMS
uh a 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
Stock’s done very well we had the
management with with us early on as well
talking about uh you know the business
opportunity uh 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 benefit
um on two accounts one is the pl bit um
you know obviously they get 6% PL as a
percentage of their overall incremental
revenues and we have seen PL flowing
through in the last quarter uh when uh
very notable fact is that you know Tes
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 uh you know
uh they have been a very successful uh
fix line uh company Telecom equipment
manufacturer but Wireless is something
that they 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 upgr 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 uh 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 St 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 to eight
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 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 T 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 you 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 sense that they are back to the preo
level so our view is that you know
valuations are much more reasonable
volume grow grow 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 and it’s uh you know
everyone wants to consume a better brand
whether they it’s in terms of apparel
watches uh you know
liquer 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 Arn fashion you
know which we have recently invested
into I think so uh 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 in 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 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 whether we
are at the top end of the cycle and U
and the answer really lies is that you
know whether you you want to allocate as
a investor for next 3 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 uh
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 uh 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 Dem merger you
know getting along uh any thoughts I’m
not asking for a stock recommendation
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 Arin fashion or even
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 a Westside consumer you
you always felt that you know possibly
uh you never felt the need of 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 uh once you see full price sales
going up in in any format and once you
see right sizing of store of 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 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 Arya
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’ll
leave it there thank you very much for
your time good speaking with you and uh
appreciate you joining us here on cbcv
18 today well I think 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 but it’s
a slow but a sharp sort of fall from the
high let me put it that way
22391 uh 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 say this is 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 S 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 and 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’ll 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 yeah 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 uh producing
from captive captive coal mines then
obviously coal India’s demand goes down
the other Factor if there is more amount
of renewable part that comes to the T
then that as well is another risk to co
India so for the time being you know the
stock is down half% as you said or
thereabouts but if uh the worse 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 Co 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 but you know again looks like
you know s there is a resistance on the
Nifty around that 2 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 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 lims a
big move in that in that stock from a
flow perspective from a sector one I
guess Fara is a sector which is well bid
in the in in today’s market so a lot of
farmer stocks are buzzing on on on cash
Bas buying from larger but from from
overall Market perspective looks like 24
22400 is acting as a very strong
resistance nsh 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 in 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 mark But there
are very strong buy flows I understand a
leading hn indest 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 large learn 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
FIS
all right uh thanks very much nsh for
that you know you mentioned HDFC live
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 Pro of course
reported numbers and uh HDFC life before
that we’ll uh slip into a quick
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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 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 hinin releases uh its
update for the January to March quarter
so what is hanin’s first quarter
calender year 24 updates 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 hkin says
that India business beer volume growth
has come in low teens now it’s important
for ubl because ubl with its Q3 earnings
had 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
quarter volume 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 henen says
premium portfolio volume has growth in
low 20s and it was led by King Fisher
Ultra and henken
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 sash he has he
has the widest grin I think sashan is
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 crossed 50,000 crores
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 you don’t need any additional
triggers okay guys let’s bring it back
home thanks sash but 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 other
stocks that may look interesting I miss
UB today but uh what I’ve got or what
I’ve suggest is uh Mark Pharma I think
that’s closing in the day high so BTS
here with a stop at 1063 and a target of
1090 and gas Authority Gale is looking
good as well so btst here with a stop at
206 and we will look for a target of
around 21110
210 okay uh thanks very much mes for
that well axis bank will be reporting
numbers later today post Market hours
abishek is here with what 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
outpace L growth so deposit growth as
for analyst estimate is at 6% while lone
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 yielding retail loans or the
unsecured portion loans uh net interest
margin can come Under Pressure Morgan
Stanley is estimating a 30 basis point
decline YY in net interest margin and
about 9 basis point decline on a
sequential basis uh so slippages can
rise 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 moila losal expects gross NP
ratio and net NP ratio to be flat on a
sequential IAL 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 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 abishek we’ll watch out for those
numbers we’ll be out after market hours
Mayes Joi head of equity research at
William O’Neal is with us Mayes 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 two-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
therefore the kind of reaction that
you’re probably seeing the other end of
the spectrums 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’re setting out of the
management confidence that they alluded
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
kpi and the outperformance thereof with
Tata Alexa as well so to a certain
extent I think ERD the space I think two
spectrums that you’re probably seeing
Tata LXI is clearly uh disappointing in
terms of numbers expectations kpit is
probably uh satisfying at least till
last quarter how the number Stack Up is
probably happening uh so I think uh pick
and choose I think at this juncture but
kpit valuations on the head side and
momentum is a little bit too much for
Comfort okay all right uh hi maish uh
good afternoon what about uh Aegis
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 Nel
in fact I’m just going through that in
the morning itself and both the
divisions have done surprisingly well 9
months f524 so they’re 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
Mangalore close to 1 L 125,000 metric
tons I think all these capacities as
they start coming on stream and the
expect ations in terms of the sourcing
that they also do in terms of their gas
requirements the margin profile is
expected to remain extremely stable now
with more capacities coming up and the
incremental capacities 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 that’s leave 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 stock
and several others we will be in our
last leg on closing Bel day well here’s
a special programming note and do keep
this in mind our special Friday offering
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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 mlam poll that he’s put together
Mar 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 Ral 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
roal discretionary spending will reflect
in lower volumes now is there a genuine
recovery that one expects uh again uh
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 tippled 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 fmcg companies
valuations are Sky High again it’s a
defensive sector where Market becomes
volatile but our take is q1 onwards I
think you will see some element of
positive commentary leading to a better
reating in the city
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 UN 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 cross margin
Improvement because of raw material
benign raw material environment but
importantly higher ad spends for uni Li
along with you know royalty and
expiration of the deal that 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 Abit 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 improve
movement expected in the very near
future is something that the street will
be looking at largely because the stock
has been an underperformer over the last
4 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 mayur still with us
Mayes very quickly if you could tell us
about the cement pack we have Dal bat
that will be reporting its set of
numbers you know post Market USS 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 Reg regions
and therefore the expectations of an
improvement in terms of a reported evit
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 extremely
good so far in terms of both margin
performance and an absolute AIT and that
performance should continue I think
you’re being a little bit more choer
Nigel ACC from the large cap 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 from let’s say
February when small cap and micro cap
were completely you know bursting
through the roof now the buying is more
concentrated in the midcap the defined
midcap Universe at least that’s the
trend last two days some names that
really pop up Max Healthcare is having a
great end 6 and a half% higher look at
Dixon 5% United breweries the stock we
were just discussing with sashan 10%
higher Cell World 6% uh data pattern 6%
it’s a long list and then the psus
aircon 7% sale it’s a fact mrpl so lots
and lots of stocks PSU and non PSU but
very very very vibrant broader screen
but Prashant I’m in large cap space uh
once again slightly quiet uh quiet
absolutely uh s so you know if you just
want to take a quick look at the names
there uh the metals of course metal
names hindalco jsw steel Tara steel
really top of the list there CA power
grid and kak Bank who were some of the
others which participated on the upside
uh on the downside I mean you had baj
Auto the insurance companies like HDFC
life uh TCS down Tech Mahindra the other
one which was lower and of course
earnings reactions from T consumer there
which was the top loser actually T
consumer on the Nifty was the top uh cut
mag okay all right well uh on that note
though we’ll have to wrap up on this
edition of closing bill you stay with us
markets forward comes up next
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