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Adani Ports 745.85 (-0.54%)
Asian Paints 3094.65 (4.20%)
Axis Bank 787.50 (-6.46%)
B P C L 427.70 (-0.78%)
Bajaj Auto 3776.50 (-0.40%)
Bajaj Finance 7482.15 (-4.75%)
Bajaj Finserv 18012.00 (-1.86%)
Bharti Airtel 702.35 (0.88%)
Britannia Inds. 3697.85 (0.14%)
Cipla 922.50 (1.65%)
Coal India 173.60 (-0.83%)
Divis Lab. 5149.35 (2.60%)
Dr Reddys Labs 4662.70 (-0.08%)
Eicher Motors 2583.90 (-0.25%)
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H D F C 2915.00 (0.12%)
HCL Technologies 1177.15 (0.89%)
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Shree Cement 28107.75 (1.19%)
St Bk of India 519.15 (1.29%)
Sun Pharma.Inds. 825.10 (1.43%)
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Tata Motors 497.90 (-2.11%)
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TCS 3489.75 (0.21%)
Tech Mahindra 1567.85 (0.29%)
Titan Company 2460.10 (0.22%)
UltraTech Cem. 7354.20 (1.17%)
UPL 741.50 (3.96%)
Wipro 671.10 (0.44%)

5 Stocks to Buy Today: October 7, 2021

5 Stocks to Buy Today: October 7, 2021
by 5paisa Research Team 07/10/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today October 7

1. Tata Chemicals (TATACHEM)

Tata Chemicals Stock Details for Today

- Current Market Price: Rs.963

- Stop Loss: Rs. 942

- Target 1: Rs. 981

- Target 2: Rs. 1,010

- Holding Period: One week

5paisa Recommendation: Our technical experts see end in sideways move of the stock hence making this stock best stock to buy.

 

2. Tata Elxsi (TATAELXSI)

Tata Elxsi Stock Details for Today: 

- Current Market Price: Rs. 6,164

- Stop Loss: Rs. 6,060

- Target 1: Rs. 6,270

- Target 2: Rs. 6,400

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying in the stock and recommends buying this stock.

 

3. Radico Khaitan (RADICO)

Radico Khaitan Stock Details for Today: 

- Current Market Price: Rs. 948

- Stop Loss: Rs. 925

- Target 1: Rs.972

- Target 2: Rs. 1,000

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

 

4. Uflex Ltd (UFLEX)

Uflex Ltd Stock Details for Today: 

- Current Market Price: Rs. 566

- Stop Loss: Rs. 552

- Target 1: Rs. 580

- Target 2: Rs. 595

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

 

5. Housing Development (HDFC)

Housing Development Stock Details for Today: 

- Current Market Price: Rs. 2,751

- Stop Loss: Rs. 2,695

- Target 1: Rs. 2,810

- Target 1: Rs. 2,834

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see strong volume in this stock hence making this stock best stock to buy.

 

Share Market Today

SGX NIFTY: 

SGX Nifty indicates positive opening for Indian markets.SGX Nifty is at 17,769.50 levels, higher 158.50 points. (Updated at 7:38 AM).

International Markets:

US Market: US markets bounce back from days' low to close higher by 100 points after being down over 400 points in early trade.

Nasdaq leads the rebound with intraday swings of over 250 points before closing higher by 68 points.

This is as global markets factor in higher inflation as bond yields spike to a 6-month high. US jobs data allays fear overgrowth as numbers beat all estimates.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei' which was up over 300 points in early trade as metals led the rebound with US data showing growth prospects better than estimated.

Taiwan and South Korea also led the rebound as most Asian markets had oversold & due for a sharp comeback. 

With US$ index now hitting key resistance the chances of fall will see investors buying interest return to Asian equities.

Disclaimer: The above report is compiled from information available on the public platforms.

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Reliance Retail to launch first 7-Eleven store in Mumbai, RIL stock soars 1.5%.

Reliance Retail to launch first 7-Eleven store in Mumbai, RIL stock soars 1.5%.
by 5paisa Research Team 07/10/2021

The wait is over. One of the most popular global convenience stores is here in Mumbai, India. 

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd (RIL), announced today the launch of 7-Eleven convenience stores in India and is all set and ready to start its first store in Andheri East, Mumbai on October 9, 2021. RRVL’s wholly-owned subsidiary 7-India Convenience Retail Ltd has entered into a master franchise agreement with 7-Eleven Inc (SEI).

The stores would be offering a superior shopping experience with products ranging from beverages to hygiene. The focus would also be on localizing the stores to fit the business environment of India. RRVL plans to expand rapidly in the neighbourhood vicinity of Mumbai, to begin with. However, the company has not disclosed yet the magnitude of expansion in the coming years.

RRVL is one of the largest and fastest-growing retailers in India. With the 7-Eleven franchise onboard, RRVL has the opportunity to further expand its retail reach. The consolidated revenues for RIL have gone up by 58.24% on a YoY basis to Rs 1,44,372 crore for the quarter ended June.

In the trailing three months from October 7, 2021, the RIL share price has generated over 21% returns for its shareholders. In the early morning trading session of October 7, 2021, the stock created a day high of Rs 2,600.00, up by 1.5% on BSE. The stock has a 52-week high of Rs 2,612.00.

It would be interesting to watch how this foreign iconic convenience store chain plays out in the Indian market. It would be crucial to analyze how RRVL performs in the medium term to factor in the contribution from the franchise. 

Would you like to visit the 7-Eleven store? Let us know in the comments.

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Multibagger Alert: This top stock from the energy sector delivered 470% returns in less than one year.

Multibagger Alert: This top stock from the energy sector delivered 470% returns in less than one year.
by 5paisa Research Team 07/10/2021

Riding on aggressive energy transition, prudent capital allocation and a robust balance sheet, JSW Energy Ltd has turned into a multibagger stock within a short period.

Introduction:

JSW Energy Ltd, an Indian company engaged in the business of power generation, transmission and trading, has turned multibagger by delivering bumper returns of 470% as of October 7, 2021. The stock which was trading at Rs 66.9 on January 1, 2021, closed at Rs 381.2 on October 6, 2021. It made a 52-week high of Rs 399 on October 1, 2021.

China’s power crisis in recent times has re-emphasized the importance of switching from non-renewable sources of energy to renewable ones. Acknowledging the importance of green energy, JSW Energy seeks to become a ‘net-zero’ contributor to greenhouse gas (GHG) emissions by 2050 or even earlier.

The company aims to implement a cleaner fuel mix and decrease the consumption of specific fuels in its existing thermal plants, and by vastly scaling its portfolio of greenfield renewable assets, majorly across the wind and solar. It is also evaluating emerging technologies across green hydrogen; off-shore wind; and storage solutions including battery and pumped hydro storage.

In FY21, on a consolidated basis, the company reported a turnover of Rs 7,160 crore. Its operating profit stood at Rs 3,144 crore, while its net profit stood at Rs 805.53 crore.

On its Capex plans, JSW Energy has tied up a Rs 16,000 crore Capex and signed all the PPA agreements, for which the construction is in full swing. The asset commissioning will begin from Q4FY22, wherein the company will be commissioning close to 200 MW to 300 MW every quarter thereafter.

Earlier this week, the company announced that it has signed a contract with Senvion India, a leading manufacturer of wind turbines, for procuring 591 MW of onshore wind turbines for the company’s under-construction pipeline of renewable energy projects. Senvion will commence the supply of turbines by the second quarter of CY2022. The turbines will produce enough green energy to meet the annual electricity requirements of more than 4.5 lakh households in the country.

At 12.40 pm, the share price of JSW Energy was trading at Rs 376.75, a decrease of 1.17% from the previous closing price of Rs 381.2 on BSE.

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Superstar Stocks: BTST Trading and stocks that could deliver good returns till October 8, 2021.

Superstar Stocks: BTST Trading and stocks that could deliver good returns till October 8, 2021.
by 5paisa Research Team 07/10/2021

Stocks that are in focus, Stocks to buy for tomorrow, Superstar Stocks selected on basis of a three-factor model, United Spirits, Wockhardt, Persistent Systems.

Many times market participants see a stock opening with a gap-up and wish they should have bought this superstar stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable superstar stocks for tomorrow.  

The superstar stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters it would flash in our system and as a result, it will help traders to spot the superstar stocks for tomorrow at the right time! 

Here are the superstar BTST stocks for October 8, 2021.

United Spirits (Mcdowell-N): The stock has registered a fresh all-time high on Thursday as it has jumped 4%. The stock formed a bullish candle and it is seen near the day’s high. Interestingly, almost two hours are remaining in Thursday’s session and the stock has already surpassed the volume of its previous trading session. The RSI on an hourly basis is in the bullish territory, while on the daily and weekly time frame it is in super bullish territory. The stock can probably test levels of Rs 932 followed by Rs 945 on the upside, while on the downside, support is seen around Rs 884.

Wockhardt: The stock has jumped nearly 5% on Thursday and moreover, the most striking point for this stock is that the stock has seen a huge spurt in the volumes. The daily volume so far has already surpassed its previous day volume and it is the highest since September 27. The volume activity is seen picking up in the last one hour or so. The 14-period RSI is in the bullish territory on hourly and daily time frame. The stock has the potential to test levels of Rs 499 followed by Rs 508 on the upside. On the downside, the level of Rs 450 is likely to act as immediate support for the stock.

Persistent Systems: The stock is on verge of a breakout of horizontal trendline. The stock has already surpassed the volume of its previous trading session. The RSI is in the bullish territory on the hourly, daily and weekly time frame. The stock has the potential to test levels of Rs 3880 and immediate support for the stock is placed at Rs 3730.

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Here is why IPO price bands have attracted SEBI’s attention

by 5paisa Research Team 07/10/2021

Earlier this week, the Securities and Exchange Board of India floated a consultation paper wherein it proposed a few changes to how initial public offerings (IPOs) are priced in the country.

The capital markets regulator said that it proposes to fix a minimum price band for IPOs. It said its primary market advisory committee has recommended that a minimum price band in case of all public issues through the book-building process may be 5%. Essentially, this means that the upper price of the range should be at least 5% more than the floor price.

“The objective of fair and transparent price discovery mechanism in a book-built issue appears to have been diluted over time due to evolving market practices,” SEBI said in the consultation paper.

The regulator has sought comments if there is a need for a minimum price band in IPO and, if so, what should it be.

So, what prompted SEBI to come out with these proposals?

The SEBI proposals come at the time when India’s capital markets are seeing a boom in IPOs. A large number of companies have already floated IPOs and several dozen companies are planning to do.

However, in this euphoria, what has gone unnoticed is how ‘book building’ issues are losing their character.

Book building is basically a process used in IPOs for efficient price discovery. It is a mechanism where, during the period for which the IPO is open, bids are collected from investors at various prices and then determine the price at which the company actually sells the shares.

The book-building IPOs are different from fixed-price issues where shares are offered at a single price. Most IPOs are book-built issues.

Over time, the price band – the range of price at which investors can bid during the IPO to make it a truly price discovery mechanism – has got muddled.

A decade ago, book-built issues had a difference of 8-10% on average between the upper and lower ends of the price band. That difference has narrowed to less than 2% over the last few years.

In 2011, for instance, this difference was 9.8% among the 36 book-built IPOs. This touched a high of 10% two years later. Since then, the price band has been narrowing. In 2021, the 36 book-built issues so far had a difference of 1.5% in the upper and low ends of the price band.

This is what prompted SEBI to come out with the consultation paper. “A narrow price band presents an opportunity to an issuer company to camouflage a fixed-price issue as book-built issue,” the regulator said.

As a result, companies can circumvent the conditions and regulations attached to the fixed-price method, especially related to the allocation methodology, it added.

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These top holdings of Madhu Kela outperformed BSE Sensex in the first half of 2021.

These top holdings of Madhu Kela outperformed BSE Sensex in the first half of 2021.
by 5paisa Research Team 07/10/2021

While BSE Sensex was 10% up till June 2021 quarter, the portfolio of stocks held by Madusudhan Kela outperformed Sensex with an astronomical return of 124% from one IT company.

2021 Outperformers till June quarter:

  • Madhu Kela had a stake of 5.58% in this micro-cap company IRIS business service on Jun 30, 2021, worth Rs 11.5 crore. The stock has surged from Rs 38 to Rs 86 in a very short time. In six months the stock registered a return of 124%. 

  • The second outperformer is Radico Khaitan Limited, he had a stake below 1% in this mid-cap liquor company. The stock has surged from Rs 456 to Rs 780 in the first half of 2021. In six months it registered a return of 70%.

  • Third outperformer is SMS Pharmaceuticals Ltd. Madhu Kela had a stake of 1.10% in this mico cap pharma company worth Rs 14.3 crore. The stock has surged from Rs 118 to Rs 180 and registered a return of 45% in a similar time horizon.

Investment strategy of Madhu Kela

Theme Identification:

Identify big growth themes and special situations for both tactical and long-term investments.  

Bottom-up Construct:

Within the identified theme, they filter out companies with better risk-adjusted return characteristics. They use a combination of proprietary sector models, earnings/balance sheet analysis tools, risk assessment frameworks to further narrow the field for investment.  

Quality of Management:

This forms the bedrock of their investing philosophy. They look out for entrepreneurs with passion and a hunger to win. The individual must demonstrate both vision and execution capabilities.

Quality of Business:

There should be a runway for sustainable growth, capital allocation decisions, investment into IP, comparison of key operating metrics against industry benchmarks, scalability potential and right to win incremental market share/business etc, are some of the points they look out for.

These are some of the steps behind Madhu Kela's stock screening process. They are size agnostic and generally prefer concentrated, medium-term bets (2-4 years).

Madhusudan Kela (Madhu), the founder of Invexa Capital, is one of the most eminent and seasoned investors in the Indian Capital Markets. In a long and highly successful career spanning three decades, Madhu has received several prestigious accolades for his investing acumen - including the Best Equity Fund Manager from the Prime Minister of India.

When you pick a stock do you prefer using any of Madhu Kela's strategies?