Business
High Potential: Brokerages bullish on TCS, Escorts, Relaxo, HUL stocks for 2022
For 2022, brokerage houses are bullish on a variety of stocks including TCS, Escorts, Relaxo, HUL for 2022.
Accordingly, Motilal Oswal Financial Services has given a buy call for large-cap stocks such as TCS, ICICI Bank, Bharti Airtel, L&T, Godrej Consumer Products, Divi’s Labs, Titan, Tata Motors and Reliance Industries.
In the mid-cap space, Angel One, Macrotech Developers, Ramco Cement, Zensar Tech and Devyani International are some of the top picks from MOFSL.
Further, HDFC Securities has given a ‘buy’ recommendation for these ten stocks — Aditya Birla Capital, Gail India, Hindustan Zinc, Ipca Labs, Mahindra & Mahindra, Max Financial, Max Healthcare, State Bank of India, Tech Mahindra and Zee Entertainment.
Aditya Birla Capital is the holding company of all the financial services businesses of the Aditya Birla group, and is expected to continue its credible makeover journey over the next three years.
According to Gaurav Garg, Head of Research at CapitalVia Global Research, Escorts, Relaxo, and Deepak Nitrite shares have better potential in 2022.
For Escorts, target price is seen at Rs 2,400 per share, against Rs 1,904 on Friday’s close.
The agricultural machinery maker has an annual capacity of 120,000 units of tractors. Escorts has a presence in a variety of product segments, including tractors, agri-machinery, construction equipment, and railway equipment.
In case of Relaxo, a footwear brand, the target is expected at Rs 1,800, against Rs 1,305 currently.
Relaxo has nine plants spread across three cities, with an annual production capacity of more than 20 crore pairs. Over the last ten years, the firm has had impressive revenue and profit growth of 13 per cent and 27 per cent, respectively.
Target for Deepak Nitrite is pegged at Rs 3,400, against Rs 2,491 at present.
Deepak Nitrite is a specialty chemicals producer, and is currently one of the fastest-growing in the world (second only to China), with an annual average growth of 13 per cent over the previous five years totalling $25 billion. It has a large customer base serving over 900 clients in over 40 countries and has good competitive positioning in most of its product categories.
Further, Vinod Nair, Head of Research at Geojit Financial Services is bullish on HUL, HDFC Bank, Biocon, Tata Power, Tech Mahindra, and L&T.
“We are positive on HUL considering its pricing power, distribution expansion and product innovation. Revival in urban demand given opening of markets, and resilient rural demand aided by good monsoon & sowing, higher minimum support prices and government’s initiatives to revive the economy including production-linked incentives schemes will support HUL,” Nair said.
“Margin pressure due to surge in input costs is expected to reduce owing to price hikes, operational efficiency, and improvement in product mix.”
For Biocon, Nair said that new product launches and higher operational efficiency should support long-term earnings growth prospectus.
“The company’s recent agreement with the Serum Institute of India to market Covid-19 vaccines further bolsters business prospects for Biocon. We expect a revenue CAGR of 20 per cent over FY21-23E as the earnings outlook remains positive backed by Biocon’s focus on building a large portfolio of biosimilars and scaling up of biologics business in the emerging markets.”
Tata power is well placed to capture the opportunities across the green portfolio, he said.
On its part, Sunil Nyati, Managing Director of Swastika Investmart, said he was bullish on Action Construction, Kajaria Ceramics, KPIT Technologies shares.
“I have a very bullish view of the capital goods and infrastructure sector for the next two-to-three years where my top pick is action construction equipment which is a perfect player for both capital goods and infrastructure themes. It is a debt-free company with strong growth prospects,” Nyati said.
“IT sector is the leader of this bull run and it may continue to do well as management of the companies are sounding very confident for the next five years. KPIT is one of the fastest-growing midcap IT companies which is going to be a key beneficiary of the EV theme because it is working aggressively towards software solutions for the EV industry.”
Business
Is Market Correction Over? Sensex Soars By Over 1,900 Points; Nifty Gains Over 2%
The marquee indices closed with monumental gains as Dalal Street recovered with some requisite optimism ahead of the Maharashtra state election results on November 23.
Indian Markets Close With Bumper Gains
On Friday, November 22, the marquee indices closed with monumental gains, as Dalal Street recovered with some requisite optimism ahead of the Maharashtra state election results on November 23.
The BSE Sensex closed for the day’s proceeding with some big numbers. The oldest index in Asia closed with gains of a colossal 1961.32 points or 2.54 per cent. This took the overall value of the index to 79,117.11.
The situation was equally euphoric at the National Stock Exchange. The NSE Nifty closed at 23,830.90, having gained 481.00 points or 2.06 per cent.
In addition, the Nifty Bank index also made gains of over 1.5 per cent. Thebanking index closed with gains of 858.50 points or 1.70 per cent, pushing it beyond the coveted 50K mark, propelling it to 51,231.40.
Gainers and Losers
The days went exceedingly well for most listed companies, the day closed with a green wall. At the BSE end, SBI, Titan and TCS were the biggest gainers with all of the said companies gaining over 4 per cent.
ITC, L&T, Infosys and Reliance also made major gains in excess of 3 per cent by the end of day.
This comes after days, nearly a two-week long period of decline, that marred the market, pushing Sensex below its 80K mark, and Nifty, much below its 25K mark.
It remains to be seen, whether the much discussed market correction that brought about bringing the indices to their actual value, has come to an end or whether sea of red will continue in the time to come.
In addition, it also remains to be seen, whether, the election results for teh critical state of Maharahstra would have an effect on the market, in the next trading week.
Asian Markets
The Asian markets also flourished green with great momentum, as these indices closed on a positive note as well.
Japan’s Nikkei gained 0.68 per cent or 257.68 points, moving towards the 40K mark, closing at 38,283.85.
Another Tokyo-based index, TOPIX, closed at 2,696.53, gaining by 0.51 per cent or 13.72 points.
As we move to China, the story was a lot different, as, contrary to the Indian and Japanese markets, the Chinese markets closed in red.
Hang Seng closed with significant losses in its numbers, closing with a massive fall of 1.89 per cent or 371.14 points, at 19,229.97.
The loss was even greater in mainland China, as the Shanghai-based SSE Composite also ended the day’s trade with deep cuts. The index crumbled by 3.06 per cent or 103.21 points of its value and closed at 3,267.19.
South Korea’s KOSPI was in tandem with other market as closed with some good news. KOSPI closed with an increase of 0.83 per cent or 20.61 points, closing for the day at 2,501.24.
Business
‘Innocent Unless And Until Proven Guilty’: Adani Group Issues Statement In The US Bribery Indictment; Denies Charges, Calls Them Baseless
The Adani Group, which has been at the eye of the storm since the beginning of the new day, has issued a statement in the US Indictment matter.
Adani Denies Charges
The company, in a statement procured by the conglomerate-owned IANS, said, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.”
Furthermore, the statement asserted its stance and added, “As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought.”
Committed to Highest Standards
The Adani Group further added that it has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations.
US Court Indicts Adani and Co.
The company, in an attempt to assuage stakeholders, partners and employees, said that the company is a law-abiding organisation, fully compliant with all laws.
The storm was kicked off by a post from short-seller group Hindenburg, which shared the news of the US Federal Court’s indictment of Gautam Adani and seven others associated with the company.
Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.
The press release from the US court elaborated on the allegations and claimed that the company and its leadership had indulged in mass bribery activity, in which the company bribed Indian officials to bag a contract for its Adani Green Energy company.
This in turn led to misleading American investors and global financial investors.
The court reportedly also issued an arrest warrant against Gautam Adani and seven others.
Adani Shares Tank
In the aftermath of the report, Adani Group company shares tanked at Dalal Street. With Adani Enterprises shares hitting the lower circuit, losing 20 per cent of their value. The situation was the same with the other Adani stocks, including Adani Green Energy, which is in the middle of the new storm.
Business
Bharat NCAP Awards 5-Star Crash Test Rating to Mahindra Thar Roxx
The Mahindra Thar Roxx has earned a prestigious 5-star rating in Bharat NCAP’s latest crash tests, reflecting its commitment to safety. Recently evaluated under stringent testing, the SUV excelled with a 31.09 out of 32 score for adult occupant protection and 45 out of 49 for child safety.
Tested in its AX5L and MX3 variants, the Mahindra Thar Roxx delivered notable results, scoring 15.09 out of 16 in the Frontal Offset test and a perfect 16 out of 16 in the Side Impact test. The assessment revealed strong protection for most areas, with adequate ratings for the driver’s chest and lower legs.
The Mahindra Thar Roxx has received high marks for child occupant safety, scoring 24 points in Bharat NCAP tests, along with 12 points for CRS (Child Restraint System) installation and a Vehicle Assessment Score of 9. This top-tier safety rating applies to all Thar Roxx units produced from November 2024 onward, underscoring Mahindra’s dedication to enhancing safety features across its SUV range. Additionally, Mahindra’s XUV400 and 3XO models have also achieved 5-star safety ratings, further emphasizing the automaker’s commitment to robust safety standards.
The Mahindra Thar Roxx offers two interior themes – Classic Ivory and a new Dark Mocha Brown. Comfort and convenience are prioritizing with ventilated seats, leatherette upholstery, a digital driver display, a larger 10.25-inch touchscreen, a high-quality Harmon Kardon sound system, a panoramic sunroof, rear AC vents, wireless connectivity for Apple CarPlay and Android Auto, and a six-way adjustable driver’s seat, combining practicality with luxury.
Mahindra Thar 5-door comes packed with safety and interior upgrades to enhance its appeal. On the safety side, it includes essentials like six airbags, three-point seatbelts for all occupants, hill control features, electronic stability control, and a seatbelt reminder. Advanced driver-assist features, such as autonomous emergency braking, adaptive cruise control, lane-keeping support, lane departure alerts, and a 360-degree camera system with blind spot monitoring, add an extra layer of protection.
Mahindra Thar Roxx offers two engine choices: a 2.0-litre turbo-petrol and a 2.2-litre diesel. The petrol engine comes in two setups—150 bhp and 330 Nm of torque for the manual, and 174 bhp with 380 Nm for the automatic. The diesel option is available only with four-wheel drive.
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