ACEink Official

2024-03-22 05:47:39 Top 10 Stocks to watch Today

Mahindra & Mahindra: The Indian automaker has signed a Memorandum Of Understanding with Adani Total Energies E-Mobility to establish an electric vehicle charging network throughout India. This collaboration will also enable the automaker to introduce e-mobility solutions, ensuring consumer access to the charging infrastructure.

Mazagon Dock Shipbuilders: The Mumbai Port Authority (MbPA) has granted Mazagon Dock a long-term lease for land and buildings, including workshop land and the Clark Basin, totaling 14.55 acres. These properties are located adjacent to the MDL Mumbai Yard. The lease will be effective from April 1, 2024, and will last until March 31, 2053, spanning a period of 29 years. The total cost for this allotment is ₹354 crore.

Tata Communications: The board of directors has given the green light for the company to sign a business transfer agreement. This agreement will facilitate the hive-off of its newly identified digital services business to its fully owned subsidiary, Novamesh. The transfer will be executed as a going concern on a slump sale basis, with the transaction amounting to ₹458 crore.

Indian Renewable Energy Development Agency: The company announced that a board meeting is scheduled for March 28 to discuss a borrowing plan amounting to ₹24,200 crore for the fiscal year 2024-25. This borrowing encompasses raising funds via bond issuance, term loans, commercial paper, and other means from both domestic and international markets.

Tata Chemicals: On Thursday, March 21, Tata Chemicals Ltd announced that it has been served an order from the Income Tax Department imposing a penalty of ₹103.63 crore under Section 270A of the Income Tax Act, 1961. The penalty is mainly due to the disallowance of interest under Section 36(1)(iii) of the Act, as stated in a regulatory filing by Tata Chemicals.

Texmaco Rail and Engineering: The flagship company of the Adventz Group is reportedly preparing to initiate a Qualified Institutional Placement (QIP). The base issue size for this placement is expected to be ₹1,500 crore, according to insiders. The company's goal is to dilute its equity by 4.21%, as per informed sources. The proposed price for the QIP is ₹155, which represents a 6.4% discount on the closing price, the people privy to the matter said.

Vedanta: On Thursday, the Securities Appellate Tribunal (SAT) put a hold on an order from the Securities and Exchange Board of India against Vedanta Ltd that had instructed Vedanta to pay ₹77 crore in interest due to a delay in dividend payment to Cairn UK Holdings. However, SAT has asked Vedanta to deposit half of the interest amount into an account that accrues interest for Cairn UK.

Prestige Estates Projects: On Thursday (March 21), Prestige Estates Projects Ltd, a real estate company, announced that its subsidiary has purchased 62.5 acres of prime land in Indirapuram Extension, NCR, for ₹468 crore. This information was shared in a filing with the stock exchange. The project will be developed under the 'The Prestige City' brand, providing a large township that seamlessly integrates residential, retail, school, and recreational spaces. The acquisition cost is ₹468 crore, and it includes a share of the revenue.

Crompton Greaves Consumer Electricals: The company has been served a tax demand notice by the Assessment Unit of the Income Tax Department for the Assessment Year 2022–23. The notice demands a total of ₹68.67 crore, which includes ₹57.13 crore in tax and ₹11.54 crore in interest. This demand is expected to have a financial impact of ₹54 crore on the company.

Mahindra Lifespace Developers: A residential project named Mahindra Zen has been initiated in South Bengaluru by the Mahindra Group company. This project is officially registered with the Karnataka Real Estate Regulatory Authority.
-------------------
Join LEARNING COMMUNITY for FREE: 
https://docs.google.com/document/d/1MQfUbSlx84PdC9_Sj4nrrkmapibZhjkP5ckA0wv0gt0/edit?usp=sharing

WhatsApp Support (+919739385706) ओपन / कमेंट

2024-03-21 10:27:20 ओपन / कमेंट

2024-03-21 10:27:14 FY 24 Wrap Up


*Winners*

*Automobiles:*
- Revival after 5-year slump.
- Strong across all segments.
- Market may underestimate competition/disruptions.

*Real Estate:*
- Companies surged 2x.
- End of 10-year slump, 3-year upcycle.
- Possible consolidation & land acquisitions ahead.

*PSU Banks:*
- Favored over private banks.
- Smaller cos may have stretched valuations.
- Large banks may remain stable.

*Pharma:*
- Big players emerging from earnings consolidation.
- Returns not extraordinary in 5-8 years.

*Other Commodities & Energy:*
- Niche segments like Railways, Defence excelled.

*Losers*

*Private Banks & IT:*
- Poor performance despite 50%+ index weight.
- IT downside limited, potential for earnings growth.

*Media:*
- Disruptions from OTT platforms.
- Governance and competition concerns.

*Consumption:*
- Wealth creation driver, now facing challenges.
- High valuations, inflation, weak rural demand.

Disclaimer : This is not an investment advice and this is not an investment recommendation. ओपन / कमेंट

2024-03-21 10:26:34 5 PSU Banks to Cut Government Shareholding

“5 PSBs to Lower Government Stake by August 2024 ”

In the financial realm, sticking to rules is crucial for stability and trust. One such rule, set by Sebi, says listed companies must keep at least 25% of their shares public. Recently, Public Sector Banks (PSBs) have been working hard to meet this rule.

PSBs, like Bank of Maharashtra and UCO Bank, are aiming to reduce government ownership to less than 75%.

This move helps PSBs follow Sebi’s rule and makes them more attractive to investors.

Despite challenges, many PSBs are making progress.

By 2023, four PSBs met Sebi’s rule, and three more joined them this year.

5 PSU Banks to Reduce Government Shareholding: DFS Secretary

Five public sector banks, including Bank of Maharashtra, IOB..

Read the full article
https://aceink.com/5-banks/ ओपन / कमेंट

2024-03-21 06:00:14 Top 10 Stocks to watch Today

Zee Entertainment Enterprises: On Wednesday, Sebi assured the Bombay High Court that it would refrain from any action concerning the summons issued to Subhash Chandra of Zee Entertainment Enterprises for three weeks in connection with an alleged fund diversion case. Chandra, who had petitioned the court on March 5, claimed that the language of the summons issued by Sebi suggested that the allegations were already conclusively proven

Wipro: According to a filing submitted to the stock exchanges, Wipro Ltd has named Anne-Marie Rowland as the new CEO of Capco. Rowland, who is currently the managing partner of Capco's operations in the UK and Ireland, will assume her new role as CEO from April 1, 2024.

Crompton Greaves Consumer Electricals: The company has been awarded an order for a solar water pumping system under the PM-KUSUM scheme for the state of Haryana. The order, approved by Haryana's New and Renewable Energy Department and HAREDA, encompasses the provision, installation, and commissioning of solar photovoltaic water pumping systems valued at over ₹9 crore.

Wockhardt: Pharmaceutical company Wockhardt announced on Wednesday that it has initiated a Qualified Institutional Placement (QIP) to gather funds. The base price for each share is set at ₹544.02, which is nearly equivalent to the stock's closing price on the same day. However, the company has not delared the quantum of how much money it plans to raise in its exchange filing.

TVS Motor: TVS Motor, a manufacturer of two and three-wheelers, announced on Wednesday that it plans to distribute four cumulative non-convertible redeemable preference shares (NCRPS), each valued at ₹10, for every single share held as of the record date. These NCRPS will carry an annual coupon rate of 6% and are set to be redeemed 12 months after the allotment date.

PB Fintech: On Wednesday, PB Fintech, the promoter of PolicyBazaar, announced that its board has given the green light for the establishment of a fully-owned subsidiary dedicated to the payment aggregator business. The newly formed subsidiary, named PB Pay Private Limited, is set to operate as a payment aggregator. It will facilitate both domestic and/or cross-border transactions, subject to the approval of the Reserve Bank of India.

Cyient, HAL: IT solutions provider Cyient announced on Wednesday that Infotech HAL Ltd, a joint venture equally owned by Cyient and HAL, has begun a corporate insolvency resolution process. This process, initiated under section 10 of the Insolvency and Bankruptcy Code, 2016, is being carried out before the Bengaluru bench of the National Company Law Tribunal (NCLT).

Zomato: Just a day after the announcement of a "pure veg" fleet for customers with vegetarian dietary preferences, Zomato CEO Deepinder Goyal stated that there will be no on-ground segregation of riders. In a post on X shared on March 20, Goyal clarified that all Zomato riders will be donning red uniforms, regardless of the type of order they are delivering.

Suzlon Energy: On Wednesday, Suzlon announced that its board of directors has given the green light to convert 22.86 lakh partly paid-up equity shares, each with a face value of ₹2, into fully paid-up equity shares.

Prince Pipes: The PVC pipes company announced on Wednesday that it has signed an asset purchase agreement valued at ₹55 crore. The agreement, with Klaus Waren Fixtures Pvt Ltd and NM Shah, includes the acquisition of assets such as the "Aquel" brand, all intellectual property, land, buildings, civil structures, and other office equipment. The purchase will be made in two installments, the company said in an exchange filing.
-------------------
Join LEARNING COMMUNITY for FREE: 
https://docs.google.com/document/d/1MQfUbSlx84PdC9_Sj4nrrkmapibZhjkP5ckA0wv0gt0/edit?usp=sharing

WhatsApp Support (+919739385706) ओपन / कमेंट

2024-03-20 05:50:01 Top 10 Stocks to watch Today

TCS: On Tuesday, TCS announced that the US-based Central Bank has chosen TCS BaNCS to upgrade its primary technology infrastructure. The Central Bank's strategic alliance with TCS is designed to establish seamless and adaptable customer onboarding procedures, fostering the bank's ongoing expansion, as per a stock exchange disclosure.

Vodafone Idea: The company will assign equity shares valued at ₹1,440 crore from optionally convertible debentures (OCDs) to ATC Telecom Infrastructure, the company said in an exchange filing on Tuesday. Following the conversion, ATC will possess 2.9% of the revised shareholding. In accordance with the OCDs' terms, ATC requested VIL on March 18, 2024, for the conversion of 14,400 OCDs, totaling ₹1,440 crore, into 1.44 billion fully paid-up equity shares with a face value of ₹10 each.

Yes Bank: The bank has informed the exchanges on Tuesday that it has concluded the transfer of exposure of the bank in Katerra India Private Limited to Prudent ARC Limited, an asset reconstruction company, and has received cash consideration of ₹203.40 crore in relation to the same. Yes Bank had had invited Expression of Interest for the sale of identified stressed loan exposures through auction under Swiss Challenge Method on January 20, 2024.

UltraTech Cement: On Tuesday, the fair trade regulator, CCI, gave the green light to UltraTech Cement's planned takeover of the Kesoram Cement Business from Kesoram Industries. This proposed merger involves UltraTech Cement Ltd acquiring the grey cement division of Kesoram Industries Limited, following a comprehensive arrangement scheme dated November 30, 2023.

SKF India: The company infrormed the exchanges that it has appointed Mukund Vasudevan as an Managing Director of the company with effect from 8th April 2024 for a period of five years, subject to approval of shareholders of the company.

SpiceJet: Following a prompt from lenders, one of the two contenders for the insolvent Indian airline Go First has increased its bid, according to two banking sources and an individual familiar with the matter, reported Reuters. The bidding consortium, comprising Ajay Singh, the managing director of budget airline SpiceJet, and Busy Bee Airways, has raised the bid by an amount ranging from ₹1 billion to ₹1.5 billion.

Bharat Heavy Electricals: The state-owned engineering company announced on Tuesday that it has secured a contract to establish the 1,600 MW Singrauli Supercritical Thermal Power Plant (STPP) Stage-III for NTPC. The new plant will be located next to the existing 2,000 MW thermal power station at Singrauli in the Sonbhadra district of Uttar Pradesh, as per BHEL's statement.

Persistent Systems: On Tuesday, the mid-level IT services firm, Persistent Systems, announced that it has carried out a share purchase agreement (SPA) for the acquisition of Persistent Systems UK from the Aepona Group in Ireland, at a cost of £7.43 million. Persistent Systems UK operates in the telecommunications API gateway sector, where it defines, exposes, controls, and monetizes telecom services for partners and application developers.

LIC: On March 19, SEBI, the market regulator, confirmed that an LIC (Life Insurance Corporation of India) employee was implicated in the front-running of a significant client's trades. In its confirmatory order, the Securities and Exchange Board of India stated that the order was issued based on preliminary findings to halt further fraudulent trading activities and to prevent the misappropriation of wrongful gains totaling ₹2.44 crores.
-------------------
Join LEARNING COMMUNITY for FREE: 
https://docs.google.com/document/d/1MQfUbSlx84PdC9_Sj4nrrkmapibZhjkP5ckA0wv0gt0/edit?usp=sharing

WhatsApp Support (+919739385706) ओपन / कमेंट

2024-03-19 05:41:53 Top 10 Stocks to watch Today

Tata Consultancy Services: Tata Sons is gearing up to gather over a billion dollars by offloading a portion of its stake in Tata Consultancy Services as the conglomerate ventures into emerging sectors such as semiconductors, e-commerce, and phone assembly. The holding company of Tata group is set to divest up to 23.4 million shares, equivalent to a 0.65% stake in TCS, via block deals.

L&T Finance Holdings: On Monday, the Board of Directors of L&T Finance Holdings Ltd gave the green light to raise up to ₹1.01 lakh crore through the issuance of Non-Convertible Debentures (NCDs) in one or more installments. In a meeting held on March 18, 2024, the Board approved the fund-raising plan, which includes the issuance of various types of NCDs such as subordinated-debt, masala bonds, and perpetual debt.

Aditya Birla Sun Life AMC: Aditya Birla Capital, and Sun Life (India) AMC Investments have given the green light on March 18 for the sale of up to 2.01 crore shares of Aditya Birla Sun Life AMC. This equates to the sale of 7 percent of the firm's issued and fully paid-up equity share capital. The disposal will be executed via an offer for sale (OFS) with the objective of fulfilling the minimum public shareholding requirement of Aditya Birla Sun Life AMC.

Tata Steel: On March 18, Tata Steel announced to the stock exchanges that its UK division has resolved to halt the coke ovens' operations at the Port Talbot facility in Wales due to a decline in operational stability. The company had earlier indicated that several of its heavy-end assets in Port Talbot have reached their end-of-life capability. To counterbalance the move, Tata Steel UK plans to ramp up coke imports, as per the company's statement.

Shriram Finance: In a first-of-its-kind deal, Shriram Finance secured $300 million on Monday through an international transaction model that utilises asset-backed securities (ABS) and offers a lower interest rate than initially projected, thanks to strong investor demand for the debt sold by India's second-largest non-bank lender.

Procter & Gamble India: The manufacturer of packaged consumer goods, declared on Monday that Kumar Venkatasubramanian will take over as the company's new CEO, starting from May 1, 2024. Venkatasubramanian is set to replace LV Vaidyanathan, who, after dedicating 28 years of service to P&G, has decided to leave to explore other opportunities. Vaidyanathan has been serving as the CEO of P&G India since July 1, 2022.

Poonawalla Fincorp: The Pune-based non-banking financial company announced on Monday that it has appointed Arvind Kapil, a senior executive from HDFC Bank, as its CEO. Currently, Kapil holds the position of group head of mortgage banking business at HDFC Bank, overseeing home loans, loans against property (LAP), and the sales business of the former Housing Development Finance Corp (HDFC), which merged with the bank last year.

Veritas (India), Genesys International Corporation: Veritas (India) Ltd, in partnership with Genesys International Corporation Ltd, has been granted a Letter of Acceptance from the Brihanmumbai Municipal Corporation (BMC), accepting of their bid of approximately ₹156 crore for the development, implementation, and maintenance of a 3D city model and change detection using geospatial technology for the Mumbai municipal body.

Religare Enterprises: The Burman family, who own more than 25% of Religare Enterprises Ltd, have raised concerns about the appointment process of Rakesh Asthana, the former Delhi Police commissioner, as a director on the company's board. They argue that this appointment violates listing rules. ओपन / कमेंट

2024-03-18 05:40:00 Top 10 Stocks to watch Today

Adani Group: The Adani Group is preparing for a significant increase in its planned investments for the fiscal year ending in March 2025. According to PTI, the group plans to invest more than ₹1.2 lakh crore ($14 billion) across its diverse business portfolio, with a particular emphasis on green and renewable energy. In a separate development, the investigation into India's Adani Group by US prosecutors has intensified, with a particular focus on potential bribery and the actions of its billionaire founder, Gautam Adani, as reported by Bloomberg citing sources close to the matter.

Dr. Lal PathLabs: The diagnostics company has announced the appointment of Shankha Banerjee as its new Chief Executive Officer (CEO) and Key Managerial Personnel. This change will take effect from May 21, 2024, according to a stock exchange filing on March 17. Banerjee, a graduate of Delhi College of Engineering and SP Jain Institute of Management & Research, Mumbai, brings over two decades of corporate experience to the role.

Crompton Greaves Consumer Electricals: The company has been awarded a patent for their innovative linear node tubular lighting system. The patent, which is valid for 20 years, officially came into effect on August 14, 2020. In other news, Sachin Phartiyal has stepped down from his position as the head of the home electricals unit due to personal and professional circumstances, effective from April 9.

Zee Entertainment Enterprises: The company, in the process of restructuring its operations following a failed merger with Sony, has implemented changes in its technology and data sector. Nitin Mittal, who held the position of President, Technology and Data at Zee, has resigned, a decision that has been accepted by the company's MD and CEO, Punit Goenka.

Zomato: The online food delivery platform has been served a GST penalty notice from the Deputy Commissioner of State Tax in Gujarat for the financial year 2018-19. As per a regulatory filing with the stock exchanges, the demand order relates to an over-claim of input tax credit and underpayment of GST. Zomato disclosed in its exchange filing that it has received a GST demand of ₹4.12 crores for FY 2018-19, along with applicable interest and penalty, amounting to a total of ₹8.58 crores.

PTC India Financial Service: On March 15, PTC India Financial Service (PFS) informed the stock exchange that their CFO, Mahendra Lodha, has retracted his resignation. PFS has been under regulatory examination due to issues related to corporate governance and mismanagement.

RailTel Corporation of India: The company has secured a work order from the State Project Director (SPD) of the Bihar Education Project Council (BEPC). The order, which includes a supply contract worth ₹130 crore (inclusive of taxes), was announced to the stock exchanges by the PSU. This follows the company's recent acquisition of a contract valued at over ₹113.46 crore from the Odisha Computer Application Centre (OCAC).

NHPC: The company announced on Friday that it has been awarded the contract to construct a 200 MW solar power project in the 1,125 MW RE Park of the Gujarat State Electricity Corporation Ltd (GSECL) in Khavda, Kachchh district, Gujarat. The project is expected to produce approximately 473 million units of electricity in its first year of operation. Over a span of 25 years, the total energy output from the project is projected to be around 10,850 million units.

DroneAcharya Aerial Innovations Ltd.: The company specializing in drone technology solutions has announced that it has won a contract to supply IT hardware for the Indian Army's Drone Lab in Jammu and Kashmir (J&K). The contract includes the supply of key IT equipment, including CPUs, monitors, keyboards, and mice, which are essential for setting up and running the Drone Lab, as per the company's regulatory filing.
-------------------
Join LEARNING COMMUNITY for FREE: 
https://docs.google.com/document/d/1MQfUbSlx84PdC9_Sj4nrrkmapibZhjkP5ckA0wv0gt0/edit?usp=sharing

WhatsApp Support (+919739385706) ओपन / कमेंट

2024-03-15 12:45:39 How to Cope with a Falling Market

If you find it tough to watch, consider staying away from the market for some days. The market could fall further, dragging down stocks.

The fall in stock prices is not necessarily due to changes in fundamentals but rather because of sentiment and valuation.

-Companies are not going to close down.

-Products are not going to become outdated.

The primary reason for the fall is that more people are selling than buying.

Nowadays, you might not feel like studying or reading motivational posts because you want immediate results. But remember, investment is not a short-term game; it's a marathon that never ends.

If you want to overcome emotions, let the market determine your judgment, not in the short term but in the long term.

Those who are holding stocks with good quarterly results in March, even if they are in loss, it's better to hold them in the current market. Because the other stocks you might buy won't necessarily go up either.

March typically sees more downturns because investors sell small-cap stocks for tax harvesting. Another reason this year is elections.

There is hope for some recovery from April, especially after the results of the elections.

So, stay patient.

For every seller, there is a buyer...

Disclaimer : This is not an investment advice and this is not an investment recommendation ओपन / कमेंट

2024-03-15 06:16:13 Top 10 Stocks to watch Today

Paytm: On the eve of the March 15 deadline for Paytm Payments Bank to cease operations, Paytm secured a third-party application provider license from the National Payments Corporation of India on Thursday. This license will offer an alternative payment method to Paytm's customers via its app, following the shutdown of its banking division, Paytm Payments Bank, due to regulatory non-compliance.

Eris Lifesciences, Biocon: Eris Lifesciences, a company specializing in branded formulations, is set to buy the domestic branded formulation business of Biocon Biologics, Biocon's biosimilar division, for ₹1,242 crore, as announced by both companies on Thursday. This acquisition, funded through debt, will pave the way for Eris's debut in the Indian injectables market, which is worth over ₹30,000 crore.

Ashok Leyland: Creador, a private equity firm with a focus on business investments in South and Southeast Asia, is set to purchase a 19.6% share in Hinduja Tech Ltd, a global mobility engineering R&D services company and a subsidiary of Ashok Leyland, for $50 million. This investment will result in a post-money equity valuation of $255 million for Hinduja Tech.

Vedanta: The company's proposed business demerger could encounter significant obstacles from minority shareholders and creditors, a report from Credit Sights, a company under FitchSolutions, has indicated. The report maintains that the planned demerger of Vedanta Ltd's other businesses may face substantial challenges from minority shareholders and/or creditors, potentially causing delays or even derailing the deal.

Novartis India: The company, a subsidiary of the Swiss pharmaceutical giant Novartis AG, is currently in talks to finalize a distribution partner for the upcoming launch of Asciminib. This novel treatment, which targets the ABL myristoyl pocket (STAMP), is a first-of-its-kind for chronic myeloid leukemia (CML), according to Amitabh Dube, the Country President and Managing Director of the company.

IIFL Finance: On March 14, ratings agency Fitch placed IIFL Finance on a 'Rating Watch Negative' (RWN), following a directive issued by the Reserve Bank of India (RBI) on March 4, instructing IIFL Finance to halt new gold-backed lending and associated off-balance-sheet funding transactions.

Religare Enterprises: InGovern, a proxy advisory firm, has expressed concerns over Religare Enterprises' proposal to inject ₹15 crore of new capital into its subsidiary, MIC Insurance Web Aggregator. Religare is currently seeking shareholder approval for this capital infusion through share subscription, with the postal ballot results due on March 23.

J Kumar Infraprojects: The Mumbai-based company anticipates a revenue growth of 16-17% in the forthcoming fiscal year, an increase from the earlier projected 15%. The company's Managing Director, Nalin Gupta, said that these growth estimates are backed by a robust order book. By the conclusion of the current fiscal year, the company forecasts having orders valued at approximately ₹19,000 crore and expects an inflow of around ₹7,000-8,000 crore in orders the following year.

IRB Infrastructure Developers: On Thursday, March 14, IRB Infrastructure Developers Ltd announced that Cintra, a subsidiary of the Spanish construction behemoth Ferrovial, has agreed to purchase a 24% stake in IRB Infrastructure Trust from GIC Affiliates. Ferrovial said that the stake would be acquired for $810 million (approximately ₹6,720 crore). Ferrovial anticipates that the deal will be finalized by the end of April 2024.

Navin Fluorine International: On Thursday, March 14, flurochemicals manufacturer Navin Fluorine International Ltd, announced that its board of directors has sanctioned an investment of around ₹250 crore in its fully owned subsidiary, Navin Fluorine Advanced Sciences Ltd (NFASL).
-------------------
Join LEARNING COMMUNITY for FREE: 
https://docs.google.com/document/d/1MQfUbSlx84PdC9_Sj4nrrkmapibZhjkP5ckA0wv0gt0/edit?usp=sharing

WhatsApp Support (+919739385706) ओपन / कमेंट