Tube Investment of India (TII): Tube’s core engineering business (TII’s standalone entity) has built competitive advantages in precision steel strips & tubes, automotive & industrial chains and car door frames. Over FY19-24, this core business delivered 19% CAGR in EBIT and 25% CAGR in PAT, with an ROCE/ROIC of 21%/25% respectively. This growth has been supported by the company’s strong focus on extracting operating efficiencies
VA Tech Wabag (Wabag) leader in the total water management industry, ranked 3rd globally, caters a complete portfolio of water solutions with technological (~83.5% of revenue) and operational expertise (~16.5% of revenue)
We are initiating coverage on DOMS Industries Ltd. with a BUY recommendation and a price target of Rs 2,670/share, representing an upside of 22% from the CMP. Our confidence in DOMS’ promising future is grounded in the company’s robust and consistent performance over the past several quarters. This trend is expected to persist in the coming years
Suraj Estate Developers’ (SURAJEST) strong redevelopment capabilities, healthy development pipeline and a well-located land bank drive our confidence in its long-term growth story. Our optimism is also supported by a structurally buoyant home market. We initiate coverage with a ‘BUY’ rating and a TP of INR757, valuing the stock at 1.4x FY26E NAV. Key growth triggers are
EPL Limited (EPLL IN) management reiterated its vision of becoming the “most sustainable packaging company in the world” at its recent plant visit. It leads the conversion of sustainable tube supplies, having sold 25-30mn PCR (post-consumer recycled material) tubes last year.
In its efforts to clamp down on the rising irrationality in option volumes (F&O), the SEBI has directed exchanges and market infrastructure institutions (MII) to discontinue the practice of charging turnover-linked slab-wise fee structures, and levy uniform transaction charges instead. While exchanges currently levy regressive slab-wise fees (higher the turnover, lower the fees), brokers usually charge their customers at the highest prescribed slab rate, resulting in excess profit residing with brokers, especially discount brokers, which is accounted as “ancillary transaction income”
The Axis Top Picks Basket delivered an excellent return of 11.8% in the last three months against the 7.5% return posted by Nifty 50 over the same period. This implies that the Axis Top Picks Basket beat the benchmark by a wide margin of 4.3%.
NCC is a key beneficiary of the tailwinds in the buildings, roads, water, mining and electrical segments. Given the strong order book visibility, and improving balance sheet strength, it is poised for a healthy growth ahead
Positive about its battery chemicals’ business, Himadri Specialty Chemicals intends to double profit in three years to ~Rs8bn, thanks to its specialty carbon black capacity expansion, liquid coal-tar pitch (CTP) exports commencing, debottlenecking 20% of CTP capacity and the rising share of value-added products (eg, oils)
We initiate coverage of Inox Wind Limited (IWL) with a BUY recommendation and a target price of Rs 185/Share, implying an upside potential of 33% from the CMP. Inox Wind is a fully integrated wind energy solutions provider. The company is engaged in the business of manufacturing and selling wind turbine generators (WTGs). It also provides erection, procurement, and commissioning (EPC), operations and maintenance (O&M), and common infrastructure facilities services for WTGs and wind farm development services
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