Kernex: TCAS led multi year growth story (01-10-2024)
Kernex FY24 AGM Highlights
- Will do 230cr sales in FY25 (can increase if some of new tenders close by December), FY26 will be atleast 3x FY25 revenue
- Till date 11600cr worth of new tenders are out (Last tenders 2 years back were 1500cr), out of which 25 tenders are for implementation (kms) and 3 tenders are for Loco
- Loco tenders bid close date is October 4th and is expected to be awarded by December 2024
- 60-70% tenders of the 28 tenders are expected to be awarded by December, some of the tenders have November bidding so may result may come in January
- 44000kms worth of tenders to come by 2029, another 10,000km tenders expected after current 10,000km tender
- Locos TCAS implementation to be completed in 12 months
- Kernex expecting to win 25-30% of total tenders value
- Earlier guidance of 900cr sales in FY25 will not be met because the new tenders coming out now were delayed by 1 year and also some of the customers wanted TCAS 4.0 and not TCAS 3.2, sure to meet guidance this time
- Working capital requirement will be around 150cr for new tenders, have tied up with banks
Zen Technologies lands ₹46 crore defense contract, shares trade flat (01-10-2024)
The contract reinforces Zen’s ongoing partnership with the Ministry of Defence and highlights the company’s position in the defense simulation sector
Gold financiers under RBI’s lens: Muthoot, Manappuram Finance slip over 3% (01-10-2024)
Muthoot Finance, Manappuram Finance shares slipped after the RBI found several irregular practices being followed by gold loan financiers
Decision to return these plots has surprised me: Karnataka CM Siddaramaiah (01-10-2024)
Karnataka CM Siddharamiah expressed surprise at his wife Parvati’s decision to surrender 14 plots allotted to her by MUDA, amidst a political conspiracy. The FIR against Siddharamiah linked to the alleged land scam added pressure, leading Parvati to take this step to end mental harassment.
Share price of Info Edge jumps as Sensex gains 111.31 points (01-10-2024)
Promoters held 37.88 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 32.13 per cent and 10.98 per cent, respectively.
Crude oil up as Israel launches ground invasion in Lebanon (01-10-2024)
October crude oil futures were trading at ₹5,740 on MCX during the initial hour of trading on Tuesday
Northern Arc Capital share price rises 5% on strong June quarter results (01-10-2024)
Shares of Northern Arc, which listed on September 24 on the bourses, surged after reporting strong quarterly results in the June quarter of FY25 (Q1FY25).
Buy Jindal Steel & Power, target price Rs 1,200: Motilal Oswal Financial Services (01-10-2024)
Motilal Oswal Financial Services has buy call on Jindal Steel & Power with a target price of Rs 1,200. The current market price of Jindal Steel & Power is Rs 1,027.