TCS will kick off the earnings season on October 10, reporting its Q2 results alongside companies like Tata Elxsi and DMart. Key earnings to watch include TCS’s revenue growth and DMart’s significant profit jump in Q1 FY25. Other notable companies reporting include Lotus Chocolates and Anand Rathi Wealth.
Curious Case of Coal India (06-10-2024)
Emkay Research: Buy | TP 600 Rs. (Oct 1 Report)
“Coal India’s production volumes tend to be seasonal with the second quarter of any fiscal year softer than the rest of the quarters. The seasonality factor has averaged 41.4%/58.6% for 1H/2H, historically . Essentially, the production of 341mt in 1H implies full-year production of 825mt adjusted for seasonality , which is marginally lower than our estimate of 830mt and the company’s guidance of 838mt for FY25.” – Emkay Research
Emkay says dont worry about productionn coming down in monsoon months. Coal India is on track to achieve its ambitious target of increased coal prodution this year. The best is yet to come. Q3 and Q4 will be better.
From the Sidelines, Joy and Empowerment on Full Display (06-10-2024)
Sui-Lee Wee, the Southeast Asia bureau chief, reported on women who had fled Myanmar and found refuge — and the delight of soccer — in Thailand.
IPO market braces for a brief slowdown, with only 2 issues set to raise Rs 365 crore this week (06-10-2024)
After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September.
IPO market braces for brief slowdown; two new issues aim ₹365 crore next week (06-10-2024)
There were 12 IPOs in the mainboard segment and 40 in the SME segment in September.
IPO mkt braces for slowdown; 2 new issues targeting Rs 365 cr next week (06-10-2024)
After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore.
There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September.
IPOs scheduled for next week, beginning October 7, are Garuda Construction and Engineering on the main board and Shiv Texchem on the SME segment.
Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10.
The stock market has seen a significant correction in the equity market since the start of October amid intensifying conflict between Israel and Iran.
Despite the temporary slowdown, overall, the outlook for the IPO market is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi’s approval while another 55 .
Bandhan Bank business grows 25% in Q2 (06-10-2024)
Total business of private lender Bandhan Bank increased 24.6 per cent in the second quarter of current financial year, a regulatory filing with the exchanges by the bank said. Total business at the end of September 30, 2024, touched Rs 2,73,163 crore, as compared to Rs 2,19,712 crore in the similar previous period, representing a rise of 24.6 per cent.
Companies with 20%+ growth guidance for next few years (06-10-2024)
few inputs here:
Landmark: cash conversion is inexplicably low given 36% (& growing) of Merc business is at nil inventory.
Dream folks: Interesting business but have following concerns:
- Regulatory risk: Merchant discount rates revision by RBI.
- Governance: No CFO till 2021. Further CFO is paid just 30 lakhs annually vs 3 cr+, the company’s CMD draws annually. This highlights the lack of quality talent available to the company.
- no pricing power: No scope of GM% expansion. Through operating leverage, ebitda can improve though.
- Entry barriers: Very low. Nothing proprietary as a platform. Anyone can enter, anytime.