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Stocks to buy today: Grasim, Siemens among top 9 trading ideas for 17 October 2024 (17-10-2024)
The Indian market may consolidate on Thursday. Nifty faces resistance at 25,000 zones. It is expected to trade between 24,500 to 25,500 levels. Analysts recommend specific stocks for short-term gains. Investors should monitor key support and resistance levels and follow the advised stock targets and stop losses cautiously.
KEI Industries Ltd – A consistent performer over the last decade (17-10-2024)
Key takeaways from KEI Q2 con call
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Drop in Margins is mainly due to increase in raw material prices of Copper, Management is extremely confident in maintaining their guidance of 10.5% to 11.0% for FY 25. For H1 FY 25 it is 10.88%
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Revenue growth is in line with guided growth of 17% (guidance 15%-17% long term)
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EPC business will continue to stay at 5%-6% of total revenue, drop this quarter will be compensated in the next couple of quarters.
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QIP is done with a
- broader vision of staying a debt free company in the long run. Management does not believe in spending cash on interest costs.
- purpose to utilize the QIP proceeds for Sanad plant, which has a total capital outlay of 1800-2000 Cr, and a revenue capacity of Rs. 5,000 Crs.
- purpose to restrict the credit line / borrowing facility only to meet working capital requirements
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Management is confident of not going for further fund raise either through debt or QIP for next 5-7 years post this fund raise, and will continue to grow at 15-17%.
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Order book is around Rs. 3,847 Crs
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Total active dealers are around 2038 numbers, an increase of around 33% YOY.
Mphasis shares in focus after Q2 net profit rises 4.5% YoY to Rs 423.3 crore (17-10-2024)
Mphasis reported a 4.6% sequential rise in net profit for Q2, reaching Rs 423 crore. Revenue increased by 3.3% to Rs 3,536 crore, while EBIT grew by 6% to Rs 544 crore. The company secured $207 million in total contract value, with significant gains across various verticals.
Bikaji Foods shares in focus as co to acquire majority stake in Hazelnut Factory for Rs 131 crore (17-10-2024)
Bikaji Foods International will attract attention on Thursday following its announcement that its subsidiary, Bikaji Foods Retail, plans to invest Rs 131.01 crore for a 53.02% stake in Hazelnut Factory Food Product. The investment will occur in tranches, with the acquisition expected to be finalized over the next two years.
Hot stocks: Brokerage view on Bajaj Auto, KEI Industries, Zydus Life and L&T Tech (17-10-2024)
Macquarie rates Bajaj Auto as neutral citing disappointing gross margins, while Jefferies is optimistic on KEI Industries, raising its target price. Macquarie maintains positive outlook on Zydus Life despite patent issues. Investec retains a sell call on L&T Tech due to weaker performance and high risk.
L&T Technology Services shares in focus post Q2 margin miss. Should you invest? (17-10-2024)
LTTS will be in the spotlight today after announcing a slight 2% rise in its consolidated net profit, which reached Rs 320 crore for the quarter ending September 2024, up from Rs 315 crore the previous year. During the same period, operational revenue increased by 8% YoY, rising to Rs 2,573 crore from Rs 2,386 crore last year.
With Jets and Ships, China is Honing Its Ability to Choke Taiwan (17-10-2024)
China’s large-scale military exercises are encircling Taiwan and testing the island’s defenses. They also raise the risk of conflict, accidental or otherwise.