The final phase of polling in Jammu and Kashmir is set for Tuesday with over 39.18 lakh voters eligible to vote across 40 constituencies. This marks the first assembly election in J&K since the abrogation of Article 370 in August 2019. Key candidates from major parties and independents are contesting in crucial constituencies.
Cineline India – Picture abhi baaki hai (30-09-2024)
I came across this company while I was researching PVRINOX and the overall multiplex business. I observed some interesting things here. The promoter received about 27 lakh preferential warrants at a price of 130 (75 upfront + 55 once they convert the warrant to equity) with a time period of 18 months from July 19, 2022, i.e., January 19, 2024.
Mysteriously, the stock started hitting the upper circuit from late November 2023 (might be due to good results or something else) until January 19, 2024 (???), and from there it made a top around February 5, 2024. The stock was down 40% in about 25 days. Interesting!!! (Check screenshot)
Overall, if the company is able to grow its PAT by 10 (high chances if revenue grows by 15%, based on past quarters and cost-cutting initiatives), expecting a PE ratio of 20, the market cap will grow around 35% (from 399 cr to 539 cr).
Disclaimer: Not invested. The above are just observations and for educational purposes.
Screenshot 2024-09-30 at 11.13.33 PM|689×388
WACR 18 bps higher than repo rate despite surplus liquidity (30-09-2024)
On Monday, the weighted average call rate rose to 6.68%, exceeding the Reserve Bank of India’s 6.50% repo rate, due to uneven liquidity distribution in the banking system. Public sector banks faced a shortfall, despite an overall liquidity surplus of Rs. 79,806 crore.
Powell Points to Two More Normal-Size Rate Cuts This Year (30-09-2024)
Jerome H. Powell, chair of the Federal Reserve, said that central bankers will lower rates as much as needed, but have forecast two more quarter-point rate cuts this year.
Biocon – The ultimate biosimilars play! (30-09-2024)
Hello
If you read close;ly… there is a certain regularity which is getting into their business and they are more foussed on monetizing Bio similars … They also have API’s ( linked to their generics ) and some generics and small molecules. Gestation of their business is long. and can be cyclical . They also spend sizable amount on R & D and call it out. They claim to make 30 % margin ex R &D and once R & D pipeline generates sizeable revenue . Numbers will start showing up . They also are probably best CDMO player potentially with 100 % India presence … There are off and on events which impact the companys standing but really not so much to sleep over. There is also an optonality about Bicara which not many people know about.
To round it off about Madams larger than life image, she is what she is and nothing much you can do about it Suffice it to say that there is a capable team below at all levels …
Thanks
Malolan
Returns on life insurance policies to drop as new surrender rules kick in (30-09-2024)
Policyholders of traditional life insurance will see reduced returns due to new guaranteed surrender value rules starting October 1. Non-participating policyholders will face a 0.3-0.5% drop in returns, while participating policies will experience decreased bonus payouts over time. These changes align with falling government bond rates.
Manaksia Coated Metals & Industries Ltd – manufacturing & exporting high-quality coated metal products (30-09-2024)
The company bagged the contract worth USD 24 million (approx. ₹200 crore) with a
leading European client, for the supply of 20,000 metric tonnes of
premium pre-painted steel coils, Alu Zinc coated steel coils, and galvanized steel products
over the next 12 months. The company also mentioned that the agreement has the potential to transform into a recurring order.
The amount is almost equal to the 2 times the June qtr revenue.
Attached the details
Manaksia Coated Metals.pdf (957.6 KB)
Rupee drops 9 paise to 83.79 per US dollar (30-09-2024)
The rupee weakened to 83.79 per US dollar due to foreign investor outflows amid declining Indian equities. Intervention by the Reserve Bank of India limited further depreciation. Boosted by recent economic measures, Chinese stocks gained over 8%, drawing investor interest away from Indian markets.
Amid ED heat, Siddaramaiah’s wife asks MUDA chief to immediately cancel 14 Mysuru plots (30-09-2024)
Karnataka CM Siddaramaiah’s wife Parvathi decided to return 14 housing plots in Mysuru to MUDA. She has also requested a comprehensive probe into MUDA’s affairs. In an emotional letter, Parvathi mentioned the decision was her own, emphasizing the importance of her husband’s honour and peace of mind over the plots.
Trai seeks views on forming digital radio broadcast policy (30-09-2024)
The Telecom Regulatory Authority of India (Trai) seeks opinions on how current FM radio broadcasters should shift to digital radio, aiming to create a digital radio broadcast policy. Trai requires written comments by October 28 and counter comments by November 11.