Nifty 17026.45 (-2.91%)
Sensex 57107.15 (-2.87%)
Nifty Bank 36025.5 (-3.58%)
Nifty IT 34606.1 (-1.97%)
Nifty Financial Services 17614.7 (-3.56%)
Adani Ports 717.15 (-5.94%)
Asian Paints 3143.10 (-0.04%)
Axis Bank 661.75 (-2.67%)
B P C L 376.85 (-5.81%)
Bajaj Auto 3334.60 (-1.68%)
Bajaj Finance 6807.05 (-4.47%)
Bajaj Finserv 16682.55 (-3.95%)
Bharti Airtel 738.75 (-3.45%)
Britannia Inds. 3555.30 (-0.51%)
Cipla 966.70 (7.42%)
Coal India 155.90 (-1.67%)
Divis Lab. 4937.80 (2.88%)
Dr Reddys Labs 4750.90 (3.47%)
Eicher Motors 2433.90 (-3.43%)
Grasim Inds 1690.10 (-4.34%)
H D F C 2741.70 (-4.40%)
HCL Technologies 1110.05 (-1.31%)
HDFC Bank 1489.90 (-2.36%)
HDFC Life Insur. 670.65 (-2.64%)
Hero Motocorp 2529.40 (-2.52%)
Hind. Unilever 2335.10 (-0.59%)
Hindalco Inds. 417.00 (-6.72%)
I O C L 120.95 (-3.74%)
ICICI Bank 722.20 (-3.84%)
IndusInd Bank 901.80 (-5.99%)
Infosys 1691.65 (-1.79%)
ITC 224.00 (-3.16%)
JSW Steel 628.65 (-7.67%)
Kotak Mah. Bank 1964.30 (-3.48%)
Larsen & Toubro 1778.15 (-3.88%)
M & M 853.75 (-4.20%)
Maruti Suzuki 7170.50 (-5.31%)
Nestle India 19222.25 (0.23%)
NTPC 128.85 (-4.70%)
O N G C 147.10 (-5.16%)
Power Grid Corpn 202.00 (-1.10%)
Reliance Industr 2412.60 (-3.22%)
SBI Life Insuran 1130.35 (-2.51%)
Shree Cement 25945.80 (-2.72%)
St Bk of India 470.50 (-4.09%)
Sun Pharma.Inds. 767.30 (-1.99%)
Tata Consumer 766.70 (-5.09%)
Tata Motors 460.20 (-6.61%)
Tata Steel 1112.30 (-5.23%)
TCS 3446.85 (0.03%)
Tech Mahindra 1527.40 (-2.05%)
Titan Company 2292.30 (-4.40%)
UltraTech Cem. 7394.75 (-2.81%)
UPL 703.80 (-3.23%)
Wipro 621.45 (-2.40%)

These penny stocks are locked in the upper circuit on Monday

These penny stocks are locked in the upper circuit on Monday
by 5paisa Research Team 08/11/2021

On Monday, the benchmark indices are trading in flat amid volatility. Sensex is trading 0.16% lower declining by more than 90 points and Nifty is down 17.65 points or 0.099%.

UltraTech Cement, Bajaj Finserv, Titan Company, Tech Mahindra, Kotak Bank and Bharti Airtel are the top 5 gainers in the Sensex group, whereas IndusInd Bank, M&M, Asian Paints, Reliance Industries are among the top losers within the index. Meanwhile, in the Sensex pack, the stocks of L&T and UltraTech Cement have made fresh 52-week highs in Monday’s trading session.

In the broader markets, the BSE Midcap and BSE Smallcap indices are seen trading better than benchmark indices with BSE Midcap trading 0.45% higher and BSE Smallcap index trading 0.28% higher. Muthoot Finance is holding the top position in the BSE Midcap index zooming more than 8.28% whereas, in the BSE Smallcap Index, Mirza Enterprises has jumped 13.32% on Monday.

On the sectoral front, the indices are trading with mixed cues. BSE Oil & Gas index is on the top rising 1.11% whereas BSE Healthcare Index is dragging down by 1.29% in Monday’s trading session. The top-performing stock pushing the BSE Oil & Gas index higher is Hindustan Petroleum Corporation which is up 5.61%.

During the session, several penny stocks were seen outperforming the markets gaining up to 4.85%.

Following stocks are locked in the upper circuit on Monday, November 08.

Sr No   

Stock  

LTP   

Price Change (%)   

1  

Sintex Industries   

7  

4.48  

2  

Llyods Steels  

6.65  

4.72  

3  

GTL Infra   

1.65  

3.13  

4  

FCS Software   

1.45  

3.57  

5  

Aks Optifibre   

9.25  

4.52  

6  

SEL Manufacturing   

6.45  

4.88  

7  

Ankit Metal and Power   

5.55  

4.72  

8  

Sambhaav Media   

3.15  

5  

9  

SAL Steel   

9.95  

4.74  

10  

Indowind Energy   

10.8  

4.85  

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Explained: How the US Fed’s tapering may impact Indian markets

by 5paisa Research Team 08/11/2021

The US Federal Reserve is set to begin tapering or reducing the speed of its monthly bond purchases by $15 billion a month—$10 billion in treasury and $5 billion in mortgage-backed securities—down from the $120 billion a month worth of paper that it is mopping up at present.

This move comes as the central bank begins to pull back on the stimulus it had begun injecting in the US economy in the wake of the coronavirus pandemic, which had forced worldwide lockdowns including across the US. 

So, why should we in India be concerned about the US Fed’s tapering?

India and other emerging market economies are interlinked with the US economy in more ways than one. 

For one, there are Foreign Portfolio Investors (FPIs), who can take their money in and out freely. Hot money, as it is widely referred to, drives the stock market up and down. If the US Federal Reserve pulls back, the FPIs could follow suit, and India’s markets could go in the red, at least in the interim. 

Second, the liquidity provided by the Fed’s injection into the US economy was one of the factors that kept a demand shock at bay, and cushioned the US and the world economy. But if money begins to dry up, it may mean that at least in the interim, demand could decline. That can impact India’s exports, and the companies that are export-dependent, negatively.  

But do Indian markets seem worried yet?

Not really. Indian markets were unfazed following the Fed’s announcement last week of its planned tapering. This, stock market experts say, is because the Indian markets were expecting the move. 

“The taper was mostly factored in and will only have a marginal impact. There is no tantrum, rather it is happening smoothly this time,” Joydeep Sen, fixed income consultant at Phillip Capital, told Business Standard. “Maybe we will see some nominal incremental impact when it actually happens, but there are so many factors in a dynamic market.”

There may be another reason for the Indian stock market’s apparent nonchalance. The Fed’s taper will continue right up to May 2022, so it is not as if all the money is going to be pulled out of the system at one go. 

Wasn’t India badly impacted by the Fed’s tapering once in the past?

Yes, the 2013 tapering by the US Federal Reserve had impacted India badly. But this was a time when India was under a heavy fiscal and current account deficit and its foreign exchange reserves were nowhere near the levels they are at today. 

Today, the Reserve Bank of India (RBI) is sitting on a foreign exchange reserve in excess of $640 billion, which will cushion the impact of a pullback by the Fed. 

How are Indian bond yields faring in the wake of the news?

The 10-year bond yield closed at 6.34% on Wednesday, the last day of trading for the previous week.  

Bond dealers expect the yields to rise as much as 6.5% by March if the RBI doesn’t forcefully want to bring it back to lower levels, the Business Standard report said. 

What has the Indian government said about the likely impact of the Fed’s taper on the Indian economy?

Indian finance ministry officials have reportedly said that the country’s economy will take the taper well and is not vulnerable to such a pullback. Yet, the rising prices of crude oil and gold, both of which India imports, could disrupt its balance of payments and weigh heavily on the rupee. 

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IndusInd Bank shares slump despite denying loan evergreening allegations

by 5paisa Research Team 08/11/2021

Stock market investors dumped shares of IndusInd Bank on Monday after allegations that a unit of the private-sector lender was “evergreening” loans, even though the bank denied the accusations.

The bank’s share price declined as much as 12.3$ to a low Rs 1,042.10 in early trade, before recovering a tad to Rs 1,066.70 around noon. This comes after the shares high a 52-week high of Rs 1,241.85 on October 28. The shares are still 57% higher than the 52-week low of Rs 678.10 in November 2020.

The bank’s shares dropped after The Economic Times on November 5 reported whistleblower allegations of loan evergreening by its microfinance unit Bharat Financial Inclusion Ltd.

However, the bank said that the allegations made by certain anonymous individuals “purportedly acting as whistleblowers” were “grossly inaccurate and baseless”.

The bank said that it had approved the loan products managed by Bharat Financial in its capacity as the bank’s business correspondent and that this was fully compliant with regulatory guidelines.

It also said that the processes followed by BFIL passed through audit, inspection, and risk and compliance checks. The non-performing asset (NPA) recognition process was fully automated in accordance with the regulatory norms applicable to the bank, it added.

The bank denied the allegations of “evergreening” the loans originated and managed by BFIL. “All the loans follow a weekly repayment model and the customers are required to make payments week on week; if there is any default, the same gets recorded as missed instalments. In view of the weekly repayment model, the concept of ever greening is infeasible,” the lender said.

Dismissing allegations related to approving loans without customers’ consent, the bank said 82% of the BFIL-serviced customers are in rural and deep rural India where access to banking services is limited. This issue got aggravated owing to operational issues arising out of the Covid-19 pandemic including lockdown, containment zones, and restrictions at the village/panchayat level, and necessitated disbursement of some loans in cash.

However, all loans disbursed by BFIL are through biometric authorisation of the customers, except in the case of a technical glitch in May 2021, when nearly 84,000 loans were disbursed without the customers’ consent getting recorded at the time of loan disbursement. This issue was highlighted by the field staff within two days and the glitch was rectified expeditiously, the bank said.

IndusInd reiterated that there was a strong risk management and control framework in place, both within the bank and at BFIL. Still, the bank has started an independent review to see if there is any process lapse or accounting failure at BFIL, it said.

What brokerages say

Brokerage house Motilal Oswal said IndusInd shares could face some pressure due to adverse media reports and asset-quality stress reported by some other microlenders. But it expected the impact to be controlled.

Motilal Oswal maintained its ‘buy’ rating on the stock and also kept the target price unchanged at Rs 1,400.

ICICI Securities said that the development may have an interim overhang on IndusInd shares even though the bank maintains its guidance credit costs and loan growth targets.

It also maintained a ‘buy’ rating with an unchanged target price of Rs 1,420.

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Multibagger Alert: Rs 1 lakh invested in this stock is worth Rs 5.25 lakh in one year

Multibagger Alert: Rs 1 lakh invested in this stock is worth Rs 5.25 lakh in one year
by 5paisa Research Team 08/11/2021

Trident Ltd has become a multibagger in a year delivering over 425% return.

Trident Ltd, a mid-size S&P BSE 500 company that is primarily engaged in the textile business, has been a firecracker in shareholders’ portfolios, as it has multiplied wealth by more than 5.25 times. If you had invested Rs 1 lakh in the stock on November 9, 2020, when the stock was trading at just Rs 7.55, it would have been worth Rs 5.25 lakh as of November 8, 2021. The stock is currently trading at Rs 40 as of 12:20 pm on the BSE. The huge jump in the stock has made it one of the buzzing stocks of the year.

The quarterly results of the company for the September end came in strong. This multibagger stock has reported revenue growth consecutively for the last five quarters. The consolidated net sales jumped by 14% sequentially and 44% on a YoY basis to Rs 1692 crore. Its business segments are witnessing good traction. The EBITDA too witnessed a sequential rise of 7.2% and 76% YoY to reach Rs 405 crore. The net profit soared to Rs 234.6 crore which increased by 13.4% QoQ and 123% YoY. The multibagger stock has also rewarded its shareholders with a dividend yield of 0.91%. The ROE of the company stood at 9.57% and the ROCE stood at 9.55%. It has an adequate debt level in its books, with the debt/equity ratio standing at 0.46.

Going ahead, the company has aimed to achieve revenue of Rs 25,000 crore by 2025 (which in FY21 stood at Rs 4,531 crore), with a 12% growth in the bottom line.

Trident Ltd is a flagship company of the Trident Group, which is a vertically integrated textile and paper manufacturer and is one of the largest players in the home textile space in India. The stock has a 52-week high of Rs 43.35 and a 52-week low of Rs 7.23.

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Buzzing Stock: Muthoot Finance hits all-time high after solid Q2 show

Buzzing Stock: Muthoot Finance hits all-time high after solid Q2 show
by 5paisa Research Team 08/11/2021

The NBFC maintains its conservative 15% growth guidance in FY22

Gold Loan Company, Muthoot Finance was one of the top gainers on the BSE 500 today and was seen trading up by 8.62% after reporting a healthy set of Q2FY22 numbers.

The finance company, which also operates home loan, micro-finance and insurance broking subsidiaries, said that its revenue from operations increased to Rs 3,052.16 crore during the quarter, as opposed to Rs 2,821.02 crore in the same quarter for a previous fiscal year, thereby registering a growth of 8.52%.

The consolidated AUM stood at Rs 60,919 crore at the end of September 2021, clocking a growth of 5% QoQ and a growth of 17% YoY despite a challenging business environment. Over the quarter, gold loan assets increased by Rs 2,613 crore, a rise of 5%, while the net profit of the gold loan division increased 11% YoY to Rs 994 crore (99% of the consolidated profit).

The Kerala-based lender is seeing a strong demand environment for gold loans and remains optimistic about growth momentum continuing in the festive season. The company maintains a 15% guidance for FY22. Meanwhile, in the non-gold business, the NBFC had consciously decided to slow down the business but continues to monitor the space for emerging opportunities.

Muthoot is the largest gold-financing NBFC in India with a network of 5,190 branches, with the majority located in southern India. The company has created a leadership position in lending against gold jewellery with AUMs of Rs 46,678 crore as of Q2FY22. The Muthoot Group has interests in diversified businesses in areas of hospitality, media, education, healthcare, information technology, etc. However, gold loans continue to be the mainstay; hence Muthoot Finance continues to be the flagship company.

After touching record high levels of Rs 1683.1 during the day, at 1:18 pm on Monday, the stock of Muthoot Finance Limited was seen trading at Rs 1664.25, up by 8.77% or Rs 132.55 per share on BSE. The 52-week high of the scrip is recorded at Rs 1,683.10 and the 52-week low at Rs 1,090.25 on the BSE.

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These smallcap stocks of Akash Bhanshali gave above 100% return in 2021. Do you own them?

These smallcap stocks of Akash Bhanshali gave above 100% return in 2021. Do you own them?
by 5paisa Research Team 08/11/2021

While S&P BSE smallcap index is 55% up in 2021, the top holdings of Akash Bhanshali had outperformed the Sensex with huge returns of above 100% from his two smallcap picks.

With an astronomical return of 122% from one of his smallcap picks, Akash Bhanshali is surely catching the attention of investors.

Portfolio outperformers of Akash Bhanshali in 2021

1. Akash Bhanshali has a stake of 2.5% in this smallcap business engaged in manufacturing and sale of forged components of automobiles, railway, wagons and engineering parts, Ramkrishna Forgings Ltd. The portfolio worth is Rs 85.3 crore, quantity held is 8,10,82 shares. The stock has surged from Rs 473 to Rs 1,050 in 2021, which in 10 months registered a 122% return. This is among the top 10 holding of his portfolio, where there is no change in the September quarter.

2. The second outperformer is another smallcap business Inox wind Ltd which is one of the largest manufacturers of Wind Turbine Generators (WTGs) in India. He has a stake of around 5%. The portfolio worth is Rs 49.3 crore, quantity held is 5,49,518 shares. The stock has surged from Rs 64 to Rs 139 in 2021 which is in a period of 10 months registered 116% return, where there is no change in the September quarter.

Background

Akash Bhanshali leads the principal investments unit of Enam Holdings which is a privately managed principal investment group. He is recognized for identifying the potential of mid-size businesses and providing them capital and expertise to scale. He has identified and invested in business leaders across numerous industries who have turned their companies into sector icons. He has a Master’s degree in Commerce and is a qualified Chartered Accountant.

As per corporate shareholdings filed for September 30, 2021, Akash Bhanshali publicly holds 15 stocks with a net worth of over Rs 1,257.6 crore.

June – September quarter

Increase in holding

1. Bought smallcap company Arvind Fashions Ltd with a holding value of Rs 264 crore  

Decrease in holding

1.Sudharsan chemical - 3.9% sold  

2.Mahindra logistics Ltd - 0.5% sold  

3.Welspun corporation - 0.31% sold 

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