Big movers on D-Street: What should investors do with Coal India, YES Bank and ICICI Bank? (28-10-2024)
Equity indices decline for the fifth session due to selling pressure, foreign capital outflows, and muted earnings growth. Stocks in focus include Coal India (down 3.6%), YES Bank (down 2.6%), and ICICI Bank (up 0.6%). Analysts provide key support and resistance levels for these stocks.
Gold eases as dollar strengthens, traders await Fed policy cues (28-10-2024)
Gold prices fell on Monday, pressured by a stronger U.S. dollar and rising bond yields, while investors awaited clarity on the Federal Reserve’s monetary policy. Meanwhile, geopolitical tensions in the Middle East and an upcoming U.S. employment report added to the market uncertainty.
Yen slips as Japan’s election result clouds BOJ rate hike prospects (28-10-2024)
The yen hits a three-month low following Japan’s ruling coalition losing its parliamentary majority, triggering investor concerns over slower interest rate hikes. Meanwhile, the dollar gains strength on rising U.S. yields and economic optimism, leading to its largest monthly rise in over two years.
Oil slides on Mideast respite, yen down as Japan govt loses majority (28-10-2024)
In Japan, the LDP which has ruled for most of the post-war years and junior coalition partner Komeito won 215 lower-house seats at Sunday’s election, public broadcaster NHK reported. This falls well short of the 233 needed for a majority and the yen was squeezed since investors figured any government that emerges is likely to make a dovish shift in economic policies.
Stocks to Watch: ICICI Bank, IndiGo, Coal India, ITD Cement, Hindustan Zinc (28-10-2024)
Stocks to Watch: IndiGo posted a loss of Rs 986.7 crore in Q2, compared to a profit of Rs 188.9 crore in the previous year quarter.
NCL Industries Ltd (28-10-2024)
NCL BuildTek , in which NCL ind. holds 68% stake itself is valued at 330-350cr in the unlisted market. This company makes Doors, Particle boards, Putty, Coatings, uPVC windows etc, (home improvement biz). This translates to a valuation of 225-230cr for NCL.
- Deal valuations in cement sector happening at 85-125USD/t Enterprise value – Orient – Adani (116$), India cement 120$, Penna 89$, Kesoram 84$, Sanghi 100$. In comparison, NCL EV/t stands at just 42$ (860m cap+220debt = 1080/3MT), so its a lucrative takeover candidate !
- Power assets – 15mw hydro + 8mw Solar + 7mw waste heat recovery = 25MW portfolio, valued between 150 – 200cr. Captive power meets 25% of their reqt.
- Recently acquired Vishwambar cement for 322acre limestone reserves @16cr , which it would use as captive mines. Also investing 150cr (90cr term loan funded) for 6.6 lakhs cement capacity expansion in Vizag. Currently NCL is operating at 90-95% capacity, with operating margins 10-11%, so the efficiency of the comapny looks decent.
- cement sector as such is not doing good, but deep under valuations, which can be repriced in case of a takeover or IPO of its unlisted subsidiary can unlock value for shareholders.
What happened to the 1863cr door orders?? As far as i could track, they hardly supplied 70-75cr doors in AP Housing project, so what happens to the rest of order?
i dont expect any fantastic growth in NCL, its an event based rationale for value unlocking. Can test investor patience though.
Also, any insights into promoters & corporate governance and any other not so visible aspects of NCL would be highly appreciated !
Stock Market Live Updates 28 October 2024: Sensex, Nifty 50 in the last leg of correction (28-10-2024)
Sensex, Nifty, Share Prices LIVE: Nifty 50 and Sensex were knocked down for the fourth consecutive week. Both the indices were down over 2 per cent each. Last week wesaid the benchmark indices can bounce back from their support. That view turned out to be wrong. The fall last week confirms a head and shoulder pattern on the daily charts of the Sensex and Nifty.