China’s Stock Markets Rebound on Promises to Help Businesses (14-10-2024)
Assurances from government officials on plans to strengthen the private sector offset a lack of specifics about economic stimulus.
Cryptocurrency Prices on October 14: Bitcoin surges above $64,000; Solana, Ethereum rise up to 3% (14-10-2024)
Cryptocurrency markets rose on Monday, led by Bitcoin and Ethereum, following stable U.S. producer prices. Bitcoin trades at $64,023, signaling potential for further gains amid positive market sentiment.
TAAL Enterprise – cheap valueations (14-10-2024)
Notes from TAAL AGM 2024
- Growth has come from existing customers as well as new customer addition. Will continue to strike a balance. Intent has been to prioritise the growth of our capabilties and share with existing customers.
- Slowdown in growth rates attributable to sluggishness in the plant engineering business. See this turning around now.
- Business split currently at 50% Product Development & Engineering, 35% Plant Engineering, Rest from Construction Engineering. Split more or less same as last year.
- Customer count ~60+.
- Margin fluctuations: due to hiring in advance of employees being placed in projects, variations in onsite/offsite employees ratio. Confident of maintaining EBITDA margins in a band of 25-30%. More likely to be closer to 30%.
- Current employee count ~600. Manage this very carefully basis the demand that we see from our customers.
- No revenue guidance, setting internal targets and track them.
- This year, the softness in the growth has been because we’ve lost a couple of customers as they have been acquired. Identify this as a problem as TAAL primarily works with the middle tier of companies which are usually promoter driven and when the companies change hands, not in their control on continuity of the business.
- Not keen on defence space – prefer predictable revenue streams and businesses without payable concerns.
- Cash on books – deliberating utilizing of cash, yet to decide on it. Understand importance of improving return metrics and will take a call on this.
- Capabilities – new areas added – auto embedded.
- Capacities – looking to add more customers in existing domains or more capacities with existing customers.
While there has been no revenue guidance, do continue to see the employee count as a proxy to establish revenue growth and margins.
| Month | Oct 2022 | Apr 2023 | Oct 2023 | Apr 2024 | Oct 2024 |
|---|---|---|---|---|---|
| Employee Count | 550 | 657 | 697 | 679 | 635 |
| Delta over 6 months | – | 19.45% | 6.09% | -2.58% | -6.48% |
The slowdown/degrowth in employee addition trends are in line with the revenue trends and margin profile trends as the lower employee costs are getting absorbed over the same revenue base recently.
Disc: Tracking. Not invested.
Hathway Cable share price rises over 5% after Q2 profit jumps 29% YoY (14-10-2024)
The uptick in Hathway Cable & Datacom share price came after the company posted a strong set of September quarter (Q2FY25) financial performance.
Ugro Capital – Opportunity To Invest in a Fintech-like Company Below Book Value (14-10-2024)
How can we acess arihant report.
Sensex surges 630 points, Nifty above 25,100 in midday trade (14-10-2024)
The rally was led by IT and financial stocks, with Wipro and HDFC Bank among the top gainers
Euro net long speculative positions near 2 month low (14-10-2024)
Large currency speculators in the Euro futures market slipped back to a near two month low, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Euro futures, traded by large speculators and hedge funds, totaled a net long position of 39098 contracts in the data reported through October 08, 2024. This was a weekly fall of 16229 net long contracts.
Wockhardt locks in 5% upper circuit as it nears approval for pneumonia drug (14-10-2024)
A positive response from CDSCO will give a push to the company efforts to gain the Drugs Controller General of India’s (DCGI) final approval for Miqnaf