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Azim Premji-associated market funds add two portfolio firms, exit one

by 5paisa Research Team 18/11/2021

Private funds that invest on behalf of Wipro founder chairman Azim Premji picked up stakes in two new portfolio companies and likely exited one company during the three months ended September 30, 2021.

The investment entities bet on engineering firm CG Power & Industrial Solutions Ltd and luggage goods maker VIP Industries, buying a stake of 1.25% and 1.66%, respectively, as per shareholding disclosures for the quarter.

At the same time, the funds trimmed their holding or likely exited their investment in Kolkata-based FMCG company Emami. The funds also sold shares of farm machinery and tractor maker Escorts, Tata Group’s retail arm Trent and Murugappa Group’s engineering firm Tube Investments, which makes bicycles and other products.

Within this pack, the funds are believed to have fully exited Emami and snipped their stake in the other companies.

Companies need to disclose public shareholders name with or over 1% stake in listed companies. Premji’s investment funds do not figure among the list of Emami’s significant shareholders.

In the previous quarter ended June 30, the funds had trimmed their holding in three companies—Emami, Trent and Zydus Wellness while apparently exiting Narayana Hrudayalaya.

Interestingly, the fund had bet on tractor maker Escorts just the previous quarter. Escorts signed a big deal on Thursday with Japan’s Kubota, which is increasing its stake in the company. This pushed the stock higher.

A Premji-associated fund had also picked multiplex operator Inox Leisure in the previous quarter. It upped its stake marginally in the last quarter, too.

In Zydus, where it is invested via two entities, it trimmed stake of one and raised exposure via the other, something it did the previous quarter as well.

On the flip side, its holding rose marginally in Tube Investments during the previous quarter but declined more recently. It had also topped up its exposure to Craftsman Automation last quarter, same as previous quarter, showing it is bullish on the auto component maker.

Factoring out the investment entities’ stake in group flagship Wipro, the funds own a stake worth at least Rs 2,490 crore currently, based on the shareholding data as of September 30. The actual figure is expected to be higher as they may also be owning a small stake in several companies that may not be in the public domain as listed firms do not separately disclose name of shareholders if they hold less than 1%.

PremjiInvest manages both private investment and public market funds for Premji. It is one of the larger professionally managed family offices active in the stock market. It has a portfolio of at least ten third-party companies. Some other companies in its portfolio include Future Lifestyle Fashions and Future Retail.

Companies whose shares it had sold in the past include dairy company Parag Milk Foods, Tata group’s engineering and white goods company Voltas, private-sector lender DCB Bank and JK Lakshmi Cement.

It is also an active investor in private companies with exposure to both startups as well as mature companies.

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L&T Technology is trending for its high returns in last year

L&T Technology is trending for its high returns in last year
by 5paisa Research Team 19/11/2021

The company has won deals with NVIDIA and Mavenir

This technology arm of L&T Limited has been trending for its bullish trend barring only the previous trading session. The stock is up by 9% in the last five trading sessions. This buzzing stock has been a multibagger in just the last six months. The stock was trading at Rs 2,642 on May 18 from where the stock has rallied to Rs 5,676.5 as of November 18, generating a huge return of over 114%. When considering returns for the year-to-date, the stock has appreciated by 235%.

In short, you would have had a multibagger in your bag had you purchased this stock one year ago or even six months ago. 

The stock was buzzing since it was chosen by NVIDIA and Mavenir as engineering partners to accelerate the adoption of the industry's first converged AI-on-5G platform. Artificial Intelligence has been revolutionizing industries through advanced technology and automation. Combining it with 5G takes technology processes to the next level. The management said, “selecting L&T Technology Services as an engineering partner will enable the technology to reach organizations on a global level and unleash the endless possibilities provided by 5G.”

As far as the financial health of the company is considered, the recently disclosed quarterly financial results witnessed decent growth. The net sales for the quarter ended September stood at Rs 1608 crore which grew by 5.88% sequentially and 22.4% on a YoY basis (same quarter last year). The profitability too improved by almost 39% on a YoY basis to reach Rs 230.8 crore, up by 6.36% when compared to the previous quarter.

L&T Technology Services Ltd is primarily engaged in engineering and R&D services. The company offers consultancy, design, development and testing services across the product and process development life cycle. The stock has a 52-week high of Rs 5819.2 which was created in the recent bull rally and has a 52-week low of Rs 1645.00.

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Trending IPO listings: Sapphire Foods makes a modest debut

The stock price closed at a 3% premium to its issue price
by 5paisa Research Team 19/11/2021

The stock price closed at a 3% premium to its issue price

This franchise operator for YUM’s, Sapphire Foods Ltd, got listed on the exchanges on 18 November 2021. As we are all aware, apart from Diwali, investors have celebrated the IPO festival. The markets witnessed some firecrackers such as Nykaa bursting with listing gains, and some heavy firecrackers that didn’t light up at all to the expectations of investors - a prime example being Paytm.

Sapphire Foods, however, had a modest opening. The stock had a decent opening with a 15% premium at Rs 1360.75 on the BSE and Rs 1368 on the NSE. At the end of the day, the stock price closed at Rs 1216.05, down by 7.24% from its opening price and up by 3% from its issue price.

The company had a decent response from the public for subscription as the stock was subscribed 6.62x on the final day of bidding. The company had come out with its initial public offering (IPO) of equity shares of the face value of Rs 10 per equity share. The maiden offer comprised an offer for sale of shares worth Rs 2,073.25 crore by the promoters. The upper price band of the issue was fixed at Rs 1180 per equity share.

Sapphire Foods India is YUM brand's largest franchise operator in the Indian subcontinent in terms of revenue as of FY'20 operating KFC, Pizza Hut and Taco Bell restaurants. It is also Sri Lanka's largest international QSR chain in terms of revenue for FY' 2021 and the number of restaurants operated as of March 31, 2021.

The company is in the expansion phase and so the profitability has been deprived of the income statement. It has been suffering net losses for the past years. Although the top line of the company has been on a downtrend, part of the reason was the pandemic. It would be crucial to see how the QSR chain performs as a listed company.

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Top stocks witnessing a golden crossover

Top stocks witnessing a golden crossover
by 5paisa Research Team 19/11/2021

Golden crossover is considered as a metric of a long-term trend reversal. Here is the list of top stocks witnessing golden crossover. 

Today the markets are closed on account of Guru Nanak Jayanti. However, yesterday on November 18, 2021, Nifty 50 tumbled 0.75% (133.85 points) and continued its southward journey that began at the start of the week. It continued its lower highs and lower lows formation on a 5-minute chart.

The golden crossover occurs when a short-term moving average breaches above a major long-term moving average. Typically, when 50-Day Simple Moving Average (SMA) crosses 200-Day SMA from below, then it is considered as a golden crossover. Few analysts use Exponential Moving Average (EMA) instead of SMA and few also consider 100-Day SMA instead of 200-Day SMA. Golden crossover usually suggests a probable long-term trend reversal. Though, this is not a full-proof indicator but can be a good start to screen stocks that are probably heading towards a trend reversal. This along with price action usually help investors invest in stocks with a long-term bias.

Golden crossover and death crossover are considered to be reasonable entry and exit points in stocks. 

Top Stocks witnessing Golden Crossover 

Stocks 

Last Traded Price (Rs) 

Change (%) 

SMA 50 

SMA 200 

Crossover Date 

TVS Motor Company Ltd. 

723.9 

-2.1% 

608.7 

596.9 

Nov 12, 2021 

Whirlpool of India Ltd. 

2,280.9 

-1.3% 

2,281.1 

2,241.7 

Nov 09, 2021 

Apollo Tyres Ltd. 

224.0 

-2.7% 

226.2 

225.2 

Nov 09, 2021 

Vodafone Idea Ltd. 

10.0 

0.0% 

10.3 

9.4 

Nov 03, 2021 

Maruti Suzuki India Ltd. 

8,117.2 

-1.9% 

7,365.4 

7,145.6 

Nov 03, 2021 

Honeywell Automation India Ltd. 

39,852.0 

-2.3% 

43,408.7 

42,886.6 

Nov 02, 2021 

Shriram Transport Finance Company Ltd. 

1,601.4 

-1.8% 

1,437.4 

1,390.7 

Nov 02, 2021 

Mahindra & Mahindra Financial Services Ltd. 

175.7 

-1.9% 

184.5 

175.5 

Nov 01, 2021 

 

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Quess corp disappoints investors with poor profit growth and weak margins

Quess corp disappoints investors with poor profit growth and weak margins
by 5paisa Research Team 19/11/2021

In the recently released Earnings report for Q2, the company displayed an unimpressive performance as it failed to increase the net profit despite an increase in revenue.

Q2-FY 22 Highlights

Quess reported a healthy recovery (revenue up 23% YoY/8% QoQ) after a sluggish second wave period. General staffing grew 6% QoQ as associate headcount crossed 250k with a strong contribution from new clients. Global Technology Services and Operating Asset Management segments grew 18% YoY and 15%YoY, respectively. 

Consolidated revenue stood at Rs 3,228 crore in Q2-FY22 against Rs 2,615 crore in the corresponding quarter last year.

EBITDA declined 20% on a YoY basis stood at Rs 112.3 crore in Q2-FY22 against Rs 139.7 crore in the corresponding quarter last year. However, EBITDA margin contracted 200 bps on a YoY basis due to high employee cost, EBITDA margin stood at 3.2%.

Net profit declined 26% stood at Rs 38 crore in Q2-FY22 against Rs 46 crore in the corresponding quarter last year. However Net profit margin contracted 60 bps on a YoY basis, NPM stood at 1.1%.

Company and its Business

Quess Corp (Quess), India’s leading integrated business services provider, was established in 2007. Headquartered in Bengaluru, the company has a pan-India presence with an overseas footprint in North America, the Middle East and Southeast Asia. The company serves over 2,600 plus customers. Quess employs over 384,000 personnel (including Terrier Security Services) across its three platforms namely,

a) Workforce Management (WFM) – 66% of revenue

b) Operating Asset Management (OAM) – 16% of revenue

c) Global Technology Solutions – 18% of revenue.

Outlook and valuation

The outlook is for a continued recovery across all businesses during 2HFY22. Encouraging so far is the traction in the staffing and tech solutions segments. Workforce management and security should gather steam gradually. The company is trading P/E of 237x against an industry P/E of 52x.

Valuation looks on the higher side but Quess corp is one of the major players in the industry to watch out for in the future. 

The share closed at Rs 910.10, 3.5% down for the day on November 18, 2021.

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Top 5 Large-cap gainers and losers this week!

Top 5 Large-cap gainers and losers this week!
by 5paisa Research Team 19/11/2021

List of top 5 gainers and losers this week in the Large-cap space.

The market erased almost all of its last two week’s gains amid a broad market sell-off seen this week. Investors fretted, triggering profit-booking largely on account of weak global cues, rising inflationary concerns and tepid listing of Paytm shares. The spike in India’s wholesale price inflation to 12.54% for October month, from 10.66% in September on account of rising in crude oil prices also worried investors. The FIIs and DIIs both were net buyers to the tune of Rs 1,768 crore and Rs 3,927 crore respectively in the Indian equities market during the week.

In the period from Friday i.e, November 12 to November 18, the Nifty 50 index fell 1.86% from 18,102.75 to 17,764.80. Similarly, the BSE Sensex registered a decline of 1.73% from 60,686.69 to 59,636.01. 

Let us have a look at the top gainers and losers in the large-cap space during this period.

Top 5 Gainers 

Return (%) 

Apollo Hospitals Enterprise Ltd. 

19.71 

National Standard (India) Ltd. 

9.97 

Macrotech Developers Ltd. 

9.22 

Maruti Suzuki India Ltd. 

8.5 

L&T Technology Services Ltd. 

6.24 

 

Top 5 Losers 

Return (%) 

FSN E-Commerce Ventures Ltd. 

-10.22 

Honeywell Automation India Ltd. 

-9.31 

JSW Energy Ltd. 

-8.53 

Coal India Ltd. 

-8.09 

Tata Steel Ltd. 

-7.78 

 

 

Apollo Hospitals Enterprise:

Shares of Apollo Hospitals Enterprises (AHEL) continued its upward march, with the stock hitting a fresh record high of Rs 5,845.25 on the BSE on Wednesday. The stock has surged 19.71% in the past four days after the company reported a strong set of numbers for the quarter ended September 2021 (Q2FY22). The Q2FY22 performance of AHEL was better-than-expected with a rise in the average revenue per occupied bed (ARPOB) and a lower average length of stay (ALOS).

The stock price was also driven by the news that Apollo Hospitals acquired a 65% stake in the 180-bed Excelcare Hospital in Guwahati at an enterprise value of Rs 210 crore, and is seeking to acquire a 300-bed facility in Mumbai in the next few years and 300 more beds in Bengaluru by acquisition in the next two years.

National Standard (India):

Shares of National Standard (India) continued its astonishing run on the domestic markets with the share price rising 9.91% in the past week after hitting consecutive upper circuits. Since October 01, 2021, the share price has surged massively by 331%. National Standard (India) reported its Q2 results earlier in October and reported net sales of Rs 6.86 crore from Rs 0.23 crore in the same quarter for the previous fiscal year. The operating profit of the company grew YoY by 788.38%, while PAT was up by 877.9% during the quarter.

Macrotech Developers:

Realty firm Macrotech Developers raised Rs 4,000 crore through the sale of shares to institutional investors and will use this fund for business growth and the reduction of debt. The Mumbai-based company is one of the leading real estate firms in the country and market its properties under the 'Lodha' brand. The share price of the company was up by 9.22% this week to Rs 1378.35 as of November 18, 2021, from Rs 1261.95 on November 12, 2021.
 

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