Posts in category All News
Stocks that will see action today: November 7 (07-11-2024)
Buzzing stocks: Bharti Airtel, Kalpataru, Wockhardt, IEX, Polycab, Innova Captab, KIMS, Sterling Tools, M&M, NHPC, SAIL, Ircon, Va Tech Wabag, Bajaj Electrical
Buy Gland Pharma, target price Rs 1,970: Motilal Oswal Securities (07-11-2024)
Motilal Oswal Securities recommends buying Gland Pharma stock. They predict a target price of Rs 1970. The brokerage expects Gland Pharma’s earnings to rebound over the next few years. This growth will be driven by higher sales of existing products and new product launches. Gland Pharma’s stock is currently trading at Rs 1786.4.
Hot stocks: Brokerage view on Apollo Hospitals, Gujarat Gas, JSPL, Polycab and Tata Steel (07-11-2024)
Brokerage firms have varied recommendations: JP Morgan rates Apollo Hospitals overweight, Citi downgrades Gujarat Gas, Morgan Stanley is positive on JSPL, while Jefferies gives a buy rating to Polycab.
Power Grid shares in focus after reporting muted Q2 results (07-11-2024)
Power Grid Corporation reported a consolidated net profit of Rs 3,793 crore in the September quarter, remaining unchanged from the previous year. Revenue remained stagnant at Rs 11,278 crore. Despite the flat growth, the company announced an interim dividend of Rs 4.
Tips Industries Limited – Ready to RACE ahead! (07-11-2024)
Seeing people discussing valuation of Tips Music on PE matrix. In my opinion Tips Music is a pure play music label which cannot be valued by just calculating PE by seeing profit alone. Tips is charging content cost in expenses of P&L account and not capitalising it and the content cost is kind of not a raw material for top line of the same period, it is more like a capital expenditure for future growth. Suppose, if Tips gets an opportunity of buy very good music at good deal and they spent almost all the revenue for the particular year in buying that content then the PE will be very high or in negative but the company will save good amount in taxes apart from ensuring solid growth. Content cost can be a problem if the company is not spending prudently, however, having observed the strategy of Tips for last 4-5 years, I thing they are quite conservative and prudent in buying new music.
If I have to value the Tips of PE matrix alone, I would calculate based on top line and not on profit. For instance, TTM Sales are Rs. 283 crores which results in operating profit of Rs. 268 crores (assuming 95% OPM, ex of content cost). Now, lets assume there is tax rate of 25%, the PAT works out to be Rs. 200 crores. Now calculate the PE, it is less than 60 and not 80-90.
Having said that, I understand if they don’t do content acquisition, the growth will slow down but I feel most of the growth is coming from their legacy content coupled with structural shift of paid customers and ads revenue of music platforms.
Disclaimer: Not invested
Dividend, bonus: REC, Petronet LNG, & 10 others to remain in focus today (07-11-2024)
Here is the complete list of companies whose shares will turn ex-date tomorrow along with their respective corporate announcements, and other key details
Positive Breakout: These 5 stocks close above their 200 DMA (07-11-2024)
On November 6, five Nifty50 stocks, including Dr. Reddy’s, L&T, TCS, Bajaj Finance, and BPCL, closed above their 200-day moving averages, signaling an uptrend according to technical data from StockEdge.