Nifty 17401.65 (1.37%)
Sensex 58461.29 (1.35%)
Nifty Bank 36508.25 (0.39%)
Nifty IT 36157.85 (2.06%)
Nifty Financial Services 17982.9 (1.26%)
Adani Ports 739.10 (4.40%)
Asian Paints 3180.60 (1.35%)
Axis Bank 676.10 (-0.52%)
B P C L 378.85 (2.74%)
Bajaj Auto 3328.40 (2.43%)
Bajaj Finance 7180.50 (2.01%)
Bajaj Finserv 17758.15 (2.16%)
Bharti Airtel 732.55 (1.43%)
Britannia Inds. 3578.50 (1.22%)
Cipla 921.25 (-0.74%)
Coal India 159.30 (2.41%)
Divis Lab. 4777.30 (0.53%)
Dr Reddys Labs 4662.75 (1.22%)
Eicher Motors 2451.55 (0.54%)
Grasim Inds 1723.85 (2.63%)
H D F C 2807.80 (3.85%)
HCL Technologies 1184.70 (2.42%)
HDFC Bank 1525.75 (1.40%)
HDFC Life Insur. 705.30 (1.65%)
Hero Motocorp 2472.70 (1.00%)
Hind. Unilever 2383.30 (1.64%)
Hindalco Inds. 432.10 (1.69%)
I O C L 120.65 (2.51%)
ICICI Bank 722.40 (-0.73%)
IndusInd Bank 945.55 (1.27%)
Infosys 1748.25 (1.94%)
ITC 225.45 (1.60%)
JSW Steel 646.75 (1.50%)
Kotak Mah. Bank 1964.25 (0.56%)
Larsen & Toubro 1789.20 (0.18%)
M & M 849.55 (1.78%)
Maruti Suzuki 7324.95 (0.71%)
Nestle India 19503.20 (0.54%)
NTPC 128.70 (0.78%)
O N G C 144.00 (1.23%)
Power Grid Corpn 214.50 (3.52%)
Reliance Industr 2482.85 (0.64%)
SBI Life Insuran 1188.05 (1.99%)
Shree Cement 26289.80 (0.76%)
St Bk of India 477.00 (0.36%)
Sun Pharma.Inds. 766.25 (2.80%)
Tata Consumer 773.25 (0.06%)
Tata Motors 479.10 (0.81%)
Tata Steel 1112.40 (2.76%)
TCS 3642.90 (1.82%)
Tech Mahindra 1629.65 (2.65%)
Titan Company 2386.50 (1.11%)
UltraTech Cem. 7323.20 (0.01%)
UPL 698.20 (1.12%)
Wipro 646.80 (1.89%)

Asian Energy Services secures contract from Heavy Engineering Corporation.

Asian Energy Services secures contract from Heavy Engineering Corporation.
by 5paisa Research Team 18/10/2021

The company plans to further bid for such upcoming projects in this space to leverage its experience and increase its foothold in this line of business.

Asian Energy Services has been awarded a contract worth Rs 236 crore (inclusive of GST) for coal handling infrastructure by Heavy Engineering Corporation (HEC) at Gevra, Chhattisgarh. This contract marks the fruition of the company’s efforts to enter the coal infrastructure sector. The campaign for the same began in 2020 when the company diversified primarily from oil and gas to other energy services.

The company has also been selected as an approved awardee for the coal handling infra project at Hura OCP by Eastern Coalfields Ltd (ECL) worth Rs 128 crore (inclusive of GST). The company is awaiting an LOA (Letter of Acceptance) from ECL pending completion of necessary land acquisition by ECL which is expected soon.

In order to reduce road transport of coal and making Indian mining infrastructure efficient and modern, coal handling plants with rapid loading systems are being set up in mines. At least 35 projects are planned to be commissioned in the coming years with an estimated capital outlay of around Rs 17,000 crore in FY22 by Coal India Limited. The company plans to further bid for such upcoming projects in this space to leverage its experience and increase its foothold in this line of business.

To quote Ashutosh Kumar, Whole-time Director and CEO of Asian Energy Services Limited (AESL) from a filing with the exchange, “As the modernization of existing infra and creation of new infra is taking centre stage of Government of India, we will see plenty of opportunities in this segment and with successfully bagging initial projects, AESL is geared up to participate in this. This fits well into AESL vision of growth and expansion as it opens up avenues to expand our portfolio of services for bulk materials handling and mine development operations.

Asian Energy Services is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation and maintenance services for oilfields. It is one of the few companies providing end-to-end services in the upstream oil segment.

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Penny Stock Update: These low priced stocks gained up to 9.84% on Monday.

Penny Stock Update: These low priced stocks gained up to 9.84% on Monday.
by 5paisa Research Team 18/10/2021

Today market has closed in green, S&P BSE Utilities is top gainer while, S&P BSE SME IPO is top loser.

After a long weekend, the market opened on a positive note. Most of the sectors closed in green. However, some sectoral indices closed in red as well. The Nifty 50 is up by 0.76% and BSE Sensex is up by 0.75% in today’s trade. S&P BSE Utilities Index and S&P BSE Basic Material Index are top gainers which have been closed up by 2.82% and 2.16% respectively. S&P BSE Utilities stocks such as TATA Power Ltd, NHPC Ltd, SJVN Ltd and Adani Power Ltd gained in double digits. Tata Power shares closed up by almost 16% at Rs 257 a 52-week high. Besides, S&P BSE Basic Material stocks such as INEOS Styrolution India Ltd, National Aluminium Company Limited, Vedanta Limited and Hindustan Copper Limited were also major gainers in today's trade.

In contrast to these, S&P BSE SME IPO closed in red and slipped by 2.83%. This index remained the top loser in today's trade. Other sectors such as S&P BSE Consumer Discretionary Goods & Services, S&P Healthcare and S&P BSE Telecom have also closed into the red. The Healthcare sector is the top loser today as the Nifty Healthcare Index is down by Rs 74.30 i.e., 0.82%.

Here is the list of penny stock that gained up to 10% on a closing basis on Monday, October 18, 2021:

Sr. No.  

Stock   

LTP  

Price Gain %  

1.  

Hindustan Motors Ltd.  

17.3  

9.84  

2.  

Hindustan Construction Company Limited  

11.6  

8.92  

3.  

Prakash Steelage Limited  

2.45  

8.89  

4.  

Shrenik Limited  

2.1  

7.69  

5.  

Visagar Polytex Ltd  

0.8  

6.67  

6.  

Zenith Steel Pipes & Industries Ltd  

0.85  

6.25  

7.  

Gayatri Highways Ltd  

0.9  

5.88  

8.  

IL & FS Investment Managers Ltd  

6.3  

5.00  

9.  

Viji Finance Ltd  

2.1  

5.00  

10.  

IND Swift Ltd.  

15.85  

4.97  

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Chart Busters: Top trading set-ups to watch out for on Tuesday.

Chart Busters: Top trading set-ups to watch out for on Tuesday.
by 5paisa Research Team 19/10/2021

On the first day of the week, the benchmark index Nifty has marked the fresh all-time high of 18543.15 level. On Monday, the index has gained 138.50 points or 0.76%. The index has formed a small body bearish candle, which indicates indecisiveness near the all-time high level. Going ahead, the upside opening gap of 18350-18445 is likely to act as strong support for the index.

Here are the top trading set-ups to watch out for Tuesday. 

Aarti Industries: The stock has given a downward sloping trendline breakout as of October 04, 2021, and thereafter witnessed nearly 18% upside in just six trading sessions. After registering the high of Rs 1131.80, the stock has witnessed consolidation for the next three trading sessions. During the consolidation, the volume activity was below the 50-day average volume. Hence it should be viewed as a routine decline after a robust move. On Monday, the stock has given three days of consolidation breakout along with robust volume. All the moving averages based on trade set-ups are showing a bullish strength in the stock. Daryl Guppy’s multiple moving averages is suggesting a bullish strength in the stock. The stock is trading above all the 12 short- and long-term moving averages. The averages are all trending up, and they are in a sequence. The leading indicator, 14-period daily RSI is in the super bullish zone, and it is in rising mode. Considering the robust technical structure of the stock we believe it is likely to touch new highs. On the upside, the level of Rs 1213 will act as minor resistance for the stock. While on the downside, the zone of Rs 1100-Rs 1088 will act as support for the stock.

Rail Vikas Nigam: The stock has formed a doji candlestick pattern as on the weekend of March 27, 2021, and thereafter marked the sequence of higher tops and higher bottoms. After registering the high of Rs 35.55, the stock has entered into the contracting consolidation for 39-weeks. This resulted in the formation of a symmetrical triangle pattern on the weekly chart. On Monday, the stock has given a symmetrical triangle pattern breakout. Interestingly, on the first day of the week, the stock has witnessed nearly 9 times of 50-days average volume. The 50-days average volume is 47.04 lakh while today it has witnessed 4.09 crore volume. This indicates strong buying interest by market participants. Additionally, the stock has formed a strong bullish candle on breakout day. Currently, it is trading above its short and long-term moving averages. These averages have started rising higher, which is a bullish sign. The weekly RSI has surged above the 60 mark for the first time after the second week of July 2021. The weekly and daily RSI is in rising mode. The weekly MACD line just crossed the signal line, and the histogram became green. Technically, all the factors are currently aligned in support of the bulls. Hence, we would advise the traders to be with a bullish bias. As per the measure rule of the symmetrical triangle pattern, the first target is placed at Rs 41, followed by the Rs 43 level. On the downside, the 20-week EMA is likely to act as strong support for the stock, which is currently placed at the Rs 30.40 level.

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Opening Bell: Here’s what you need to know before the market opens on October 19, 2021.

Opening Bell: Here’s what you need to know before the market opens on October 19, 2021.
by 5paisa Research Team 19/10/2021

The bull run in the Indian market continued for a seventh consecutive session on Monday, and shows no sign of slowing down today as well.

The Indian markets enjoyed a strong run in the last trading with Nifty and Sensex both closing at a fresh record high. On Tuesday morning, the SGX Nifty is indicating the bull’s buying spree may see no signs of abating as SGX Nifty is trading up by 81 points at 18,567.50 levels. So, it is highly likely that we see a fresh all-time high at the opening bell. Certainly, with the kind of movement we are witnessing in the benchmark indices lately, it's too good to be true! Commanding attention in today’s session would be Nifty FMCG as Nestle and Hindustan Unilever are scheduled to report their earnings today and hence, Nifty FMCG could be in limelight.

Cues from Asian markets: Asian markets were seen trading in green on Tuesday. Hong Kong’s Hang Seng advanced 1.09%, while Japan’s Nikkei 225 and China’s Shanghai Composite rose 0.67% and 0.27%, respectively.

Overnight cues from US markets: On Monday, the tech-heavy Nasdaq and the S&P 500 ended in positive terrain, while the Dow managed to rebound from lower levels, but ended the day marginally below the neutral line. Nasdaq soared 0.8% and it managed to outperform its counterparts. The S&P 500 gained 0.3% and the Dow slipped 0.1%. In the economic news, industrial production declined the most in seven months in September.  

Last session summary: Indian markets continued their up-move for the seventh straight session on Monday with Nifty and Sensex advancing 0.76% and 0.75%, respectively. The broader markets also ended the day in green with Nifty Midcap and Smallcap adding 1.17% and 0.70%, respectively. Among the sectoral indices, Nifty PSU Bank and Metal were the top two gainers. On the flipside, Nifty Pharma and Media were top losers. 

FII’s and DII’s activity on Monday: The same trend has been witnessed for the third straight day in the flow from FIIs and DIIs. The DIIs continued to be the net sellers to the tune of Rs 1,703.87 crore, while on other hand, FIIs were net buyers to the tune of Rs 512.44 crore.

Important events to watch out for: On the earning front, Hindustan Unilever and Nestle will be in focus.

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Interview with Tourism Finance Corporation of India (TFCI)

Interview with TFCI
by 5paisa Research Team 19/10/2021

"TFCI wants to play the role of an investment catalyst for Indian tourism sector"

In conversation with Anirban Chakraborty, Managing Director and CEO, Tourism Finance Corporation of India Ltd(TFCI).  

TFCI’s Q1FY22 net profit stood at Rs 21.20 crore, up by 27.96% from Rs 16.57 crore in Q1FY21. What factors have contributed the most to help you outperform?   

At TFCI, we have focused on expanding our well-diversified portfolio, which has continued to yield good results over the years. Our Net Interest Income increased by 10% YoY to Rs 32 crore from Rs 29 crore with an additional income of Rs 2.4 crore during the quarter, which had mainly driven the net profit of the company. A combination of a broad-based economic revival, substantial decline in active Covid-19 infections and a large segment of the population getting vaccinated across the country has helped in significant recovery for the hospitality sector. Though Q1FY22 was a challenging quarter, owing to partial lockdowns due to the second wave, the gradual reopening saw improvement due to pent-up demand, especially in leisure destinations during the latter part of the quarter.   

Can you throw some light on your plans to utilize the funds (Rs 65.18 crore) recently raised via preferential allotment to marquee investors?  

TFCI being a specialized institution and an industry leader in its segment, is well-positioned to witness a multi-year credit growth. Hence, the raising of Rs 65 crore via preferential allotment to promoter group and marquee investor entities led by Anurag Bagaria (Chairman & CEO, Kemwell Biopharma Private Limited) and P.S Jayakumar (ex-MD & CEO, Bank of Baroda) will go a long way in the strategic expansion of the company. This displays the confidence of the investor community in the business model of TFCI. These funds will be utilized to boost the company’s strong position in the lending ecosystem and to accelerate its strategic priorities. TFCI provides a long-term line of credit to projects in the hospitality segment and the company has the vision to play the role of an investment catalyst for the Indian tourism sector, while also diversifying into other promising segments.   

What are your top strategic priorities for business expansion?  

With the help of large-scale vaccination programs and relaxations being rolled out, the tourism sector is inching its way back to recovery. Various segments of the tourism sector are witnessing a surge in bookings due to pent-up demand from travellers. Also, events like weddings, etc, which were postponed due to lockdown are also driving revenues in a big way. Our foremost priority is to lend to those businesses which have a strong asset cover and steady cashflows which helps us to avoid delinquencies and ensures recovery, even during unexpected events like this pandemic. Also going ahead, the company plans to further diversify its book by lending to the education and healthcare sector as these sectors usually tend to face lesser disruptions in a situation like COVID. These initiatives will help TFCI in building a well-diversified loan book.  

What are your growth levers?  

As per the JLL’s Hotel Momentum India report, the hospitality industry in India witnessed a growth of 84.7% in terms of Revenue Per Available Room during Q2 2021 (April-June) as compared to Q2 2020. With several states across the country adopting relaxed lockdown measures and no quarantine requirements, we expect a further boost in demand for domestic travel.

During the last year, we have also witnessed a structural shift in demand from unorganized hoteliers to larger organized institutions. This was mainly driven by their inability to sustain their operations due to the long Covid-19 induced lockdown, a shift in consumer preferences towards better hygiene, and unavailability of extended credit lines to carry business as usual. These factors have created a demand-supply mismatch in the sector. We expect this supply gap to be met by the larger and steady players, and TFCI being one of the largest lenders to such organizations is poised to grow in the coming future.   

Furthermore, going forward, with economic activities gradually getting back to pre-covid levels we expect improved disbursements activity in various sectors. As of June 30, 2021, our CRAR stood at 41.95% and our recent fundraise will help us to boost our adequacies and aid in further credit dissemination.  

 

 

 

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Future shines bright for Divis Labs on the possibility of production of first ever oral COVID-19 drug

by 5paisa Research Team 19/10/2021

Merck, also widely known as MSD, and its partner Ridgeback Biotherapeutics reported robust results for Molnupiravir Phase 3 trials from the interim analysis. The drug is said to reduce the risk of hospitalization or death by 50% in patients suffering from Mild to Moderate Covid-19. The study gave viral sequencing data which showed its consistent efficacy across viral variants Gamma, Delta and Mu.

The companies plan to get approval from FDA EUA (Emergency Use Authorization) and other global regulatory agencies for the drug. If it succeeds in this, Molnupiravir will the first ever oral COVID-19 drug which can be taken from home without any healthcare facility support.

This would play a vital role in Divi’s Labs’ growth as it is the authorized manufacturer of Molnupiravir API for MSD in India. It has a completely fully integrated manufacturing process, hence could be one of the key suppliers, effectively impacting the company’s revenue growth.

With global players looking to diversify their suppliers and reducing dependency on one sole source for generic APIs, provides a positive outlook for Divi’s Labs. Divi’s has proven itself to address any growth concern positively and has highlights its six growth engines.

Upon EUA approval, MSD wins a supply contract worth of $1.2 Bn with the US government to produce 1.7m course of Molnupiravir at a price of $700 per course. It is believed that both the companies have begun stockpiling of the drug in anticipation. MSD expects to deliver a quantity of 10m courses by 2021 end and Divi’s Lab is expected to produce 1M courses in FY22e and 0.7M in FY23e for the US.

Divi’s Lab would generate a whopping revenue of $53M and $44M in FY22e and FY23e respectively. An ROE of 23%-25% can be expected for FY22-23e, EPS estimated to increase by 0.4-4.4% and adjust the operating costs and items below the EBITDA line. These estimates are in respect to the contract with the US Government alone and would likely to increase if the companies can sign supply agreements from other countries.

With the Voluntary License agreement between Divi’s and MSD, Divi’s labs would supply Molnupiravir in India and other low-middle-income countries (LMICs) while MSD retains its API supply rights in the US, EU and other regulated markets. Divi’s Labs received a custom synthesis project for Molnupiravir API in 2QFY21 with incentives for expedited completion and invested CAPEX of 4bn for three supply streams (two for exports and one for MSD’s VL partners in India). It has started operations of one of the export streams while the other two are assumed to start soon. A strong net cash position of cINR21bn and consistent cash generation allow it to comfortably invest for future drivers.

With such impressive future business expansion plan, some drawbacks may spurt out. Risk such as delay in pick-up of supplies which would impact the revenues, higher input costs and operating expenses, failure of compliance at the plants and weakening demand.

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