Market Highlights

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July 30, 2025

• Daily Morning Report                   Date: 30.07.2025
• NIFTY OUTLOOK: 24821.10 FII -4636.60 cr DII 6146.82 cr
• As discussed yesterday, market behaviour remained in line with expectations. Nifty respected our support of 24581 at the open and bounced up to 24847 — near our resistance of 24831 — and closed close to it at 24821.10.
• A bullish engulfing pattern on the daily chart suggests that buying pressure has overtaken selling, with bulls ready to lead. If follow-through buying occurs, Nifty may rally to 24927–24977 upon surpassing 24873. Stronger demand could even push it to 25030.
• On the downside, 24770–24718 may act as immediate support. A break and sustained move below these levels may drag Nifty to 24667–24615.
• Bank Nifty OUTLOOK
• SPOT: 56222.00 PCR: 0.59 Max CE OI at 57000 & Max PE OI at 56000
• On 29th July 2025, Bank Nifty closed at 56222.00, up 0.24% from the previous day’s close. The index moved 453.15 points during the session, hitting a high of 56296.40 and a low of 55843.25.
• Technical View (Daily Chart)
• Key support and resistance levels are at 55900 and 56810 respectively.
• Intraday Technical Strategy
• Go long above 56350 with a stop loss of 56310 and target of 56470.
• Go short below 56095 with a stop loss of 56140 and target of 55970.
• Indicators & SMA Analysis
• RSI stands at 44.90 (below 30 is oversold, above 70 overbought).
• Bank Nifty is trading above 3 out of 8 SMAs (100, 150, 200-day)
• Trading below 5 out of 8 SMAs (5, 10, 20, 30, 50-day)
• One bullish candlestick pattern identified.
• • Bullish Engulfing
• Macros
• 1. Dollar index @ 98.55
• 2. S&P vix @ 15.98 ( +6.32 % )
• 3. Brent crude @ 71.60
• 4. US 10 years bond yield @ 4.322
• Note:
• U.S. Treasury Secretary Scott Bessent on Tuesday described the U.S.-China trade talks in Stockholm as "far-reaching, robust, and highly satisfactory." He mentioned that U.S. officials urged China to transition its economy toward a more consumer-driven model rather than relying heavily on manufacturing.
• Meanwhile, the International Monetary Fund (IMF) raised its 2025 economic growth forecast for emerging markets and developing economies to 4.1%, up from 3.7%, citing early policy support and improved sentiment toward China.
• The IMF also slightly upgraded India’s growth forecast for 2025 and 2026 to 6.4% (from 6.2% projected in April), reflecting a more favourable global environment.
• On the Indian equity front, FII net long positions stand at 13.32%, indicating a highly oversold zone. A recovery of 150–200 points in Nifty and 300–500 points in Bank Nifty may be expected due to short covering.
• Contributed by
• Ashok bhandari : INH000019549
• -------------------------------------xxxxxxx-------------------------------------------------------------------xxxxxxx---------------------------------
• Jefferies on Adani Green
• Maintain Buy with TP of Rs 1300
• Better utilisation helps EBITDA surprise by 3%
• Q1FY26 EBITDA was up 26% YoY driven by 42% YoY generation growth
• Capacity addition pace picked up in Q1 and has continued with 1.6 GW added in Q1
• Raise our FY26E-28E EBITDA assumptions by 4-5% to factor Q1
• @beatthestreet10
• MS on Asian Paints
• Maintain Underweight with TP of Rs 1909
• Focus on Driving Growth; Competitive Intensity to Persist
• Early green shoots in demand visible in urban markets
• Near term, volume and value growth are expected to be in single-digits
• July demand trends were similar to Q1
• @beatthestreet10
• MOSL ON L&T
• Target price revised to ₹4,200 vs ₹4,100 earlier; Buy rating maintained
• Strong start to the year
• Order book at the end of 1QFY26 stood at 6.1 lakh crore (25% YoY growth)
• Prospect pipeline rose 63% YoY to 15 lakh crore for 9MFY26
• Accelerating green and energy transition initiatives
• The Middle East remains a key growth driver for L&T
• For FY26, management has reiterated guidance of 10% growth in order inflows and 15% YoY revenue growth
• We marginally raise core E&C revenue estimates and value the company at 28x two-year forward P/E, applying a 25% holdco discount for subsidiaries
• @beatthestreet10
• UBS on Tata Motors
• Maintain Sell with TP of Rs 690
• Media report indicates Iveco Group is near to selling its commercial trucking business to Tata Motors
• If true, Tata Motors may have to spend over €1.5bn, on the basis of Iveco's valuation
• This is including mandatory open offer that would be triggered under regulations
• @beatthestreet10
• HSBC on Ather Energy
• Initiate Buy with TP of Rs 450
• Good company in a tough industry
• Ather's product quality, technology leadership and distribution expansion should drive its market share in a tough market
• EV penetration remains low, but we think the stock price will be driven by its relative performance, not industry growth
• @beatthestreet10
• MS on Bank of India
• Maintain Underweight with TP of Rs 110
• Good numbers, but unlikely to sustain
• While NIM remains low, it was better than estimates
• This, coupled with strong fees and lower operating cost, drove a 25% beat on core PPOP
• Asset quality was good, as expected
• @beatthestreet10
• MOSL ON GAIL
• Target price revised to ₹210 (vs. ₹215 earlier); Buy rating maintained
• Valuations remain rich; potential tariff hike is a key catalyst
• GAIL has revised down its natural gas transmission volume guidance to 128/136 mmscmd for FY26/FY27
• As per our estimates, the final tariff is likely to be in the 67-71/mmbtu range
• Every ₹5/mmbtu increase in tariff implies a 6-7% uplift in FY26/27 PAT estimates
• RoE expected to improve to ~12.3% in FY27 (vs. 9.5% in FY23)
• Healthy free cash flow of ₹5,530 crore expected in FY27 (vs. -₹4,530 crore in FY23)
• We cut FY26/27 earnings estimates by 4-8%
• @beatthestreet10
• MS on IGI
• Maintain Overweight with TP of Rs 533
• Q2CY25: In line; Strategy and optimism reiterated
• Outlook of 15-20% top-line growth in CY25, with EBITDA margins in the range of 57-64%
• Certification revenue growth was driven by 24% YoY growth in LGD loose stone and 15% YoY growth in natural diamond loose stones
• @beatthestreet10
• MOSL ON ASIAN PAINTS
• Target price: ₹2,500 | Rating: Neutral (maintained)
• Challenges persist; exciting days still seem distant
• APNT is seeing early green shoots of demand recovery in urban areas, while rural demand remains stable
• Demand in June and July 2025 was muted, but management is optimistic about a recovery by September 2025
• Targeting single-digit growth in both value and volume in the near term
• EBITDA margin guidance maintained at 18-20%
• Capex of ₹700 crore planned for FY26
• Estimates for FY26 and FY27 largely unchanged
• @beatthestreet10
• MOSL ON PIRAMAL PHARMA
• Target price: ₹240 | Rating: Buy (maintained)
• Near-term weakness due to muted CHG business, but structural drivers remain intact
• Management has retained FY26 guidance, indicating that 1QFY26 is likely an aberration
• Pickup expected in coming quarters, supported by new launches and improved traction in non-US markets
• order deferments expected to ease, improving the CHG business outlook
• We maintain our FY26/FY27 estimates
• @beatthestreet10
• CLSA on Piramal Enterprises
• Maintain Hold; Hike TP to Rs 1200 from Rs 1030
• Steady with some red flags
• AUM growth strong; MSME/small ticket LAP emerging stress area
• Sequentially weaker operating profit but lower credit cost supported net profit
• Retail segment GS3 up 20bps; unsecured MSME and used car finance problem area
• @beatthestreet10
• Investec on L&T
• Maintain Buy; Hike TP to Rs 4460 from Rs 4115
• Beats on most fronts; strengthens confidence further
• Order inflows robust; strong visibility
• Impressive working capital mgmt.
• L&T has won multiple orders in the Middle East, which should be booked in Q2, and feel it is likely to surpass its guidance
• @beatthestreet10
• MOSL ON PIRAMAL ENTERPRISE
• Target price revised to ₹1,315 (vs. ₹1,250 earlier); Neutral rating maintained
• Balanced performance with strong growth and controlled risk
• Retail loan growth stood at ~37% YoY; retail mix stable QoQ
• Management highlighted stress in MSME unsecured loans and used car financing
• Small-ticket LAP segment remains under pressure
• No negative surprises expected in financials post PIEL-5900 Piramal Finance (PFL) merger
• Total AUM CAGR estimated at ~24%, and Retail AUM CAGR at ~27% over FY25-FY27
• Estimated RoA at 1.9% and RoE at 8% for FY27
• @beatthestreet10
• JEFFERIES ON METALS
• See Signs Of Improving Environment For Carbon & Stainless Steel Players
• In Carbon Steel, China Domestic HRC Price Is Up 8% In Last One Month
• Higher China Domestic HRC Price Is Driving 14% Expansion In Asian Spread
• Spreads Are Still 20% Below Historical Average And Can Expand Further
• Jindal Stainless Should Benefit From Easing Imports, Aided By BIS Norms
• Potential Rebound In China SS Spreads From 10-year Low +ve For Jindal Stainless
• @beatthestreet10
• CLSA on Varun Beverages
• Maintain High Conviction Outperform; Cut TP to Rs 774 from Rs 786
• Strong margin expansion amid volume decline as VBL flexes cost levers
• India business volume decline of 7%; domestic realisation driven lower by mix
• Ebitda margin expansion of 82bps YoY driven by operational efficiencies
• @beatthestreet10
• AVENDUS ON ASIAN PAINTS
• Target price revised to ₹2,300 (vs. 2,400 earlier); Rating: Reduce (maintained)
• APNT's growth trajectory is expected to improve sequentially in FY26
• Near-term revenue growth faces headwinds from unseasonal rains, rising competitive intensity, and pricing actions
• We have reduced revenue estimates by ~2% for FY26/27
• Margins are expected to remain at the lower end of management's guidance
• @beatthestreet10
• UBS ON TATA MOTORS
• MAINTAIN SELL , TARGET 690
• Company close to deal with Iveco Group
• Company may buy Iveco Group's commercial trucking business: Report
• @beatthestreet10
• NUVAMA ON NTPC
• Target price raised to ₹401 (vs. ₹380 earlier); Neutral rating maintained
• Robust core RoE despite weak PLF
• NTPC remains a top power pick, trading at 1.5x FY27 P/BV, with 7% EPS CAGR, 17% RoE, and ~22GW capex driving growth
• Key variables to watch:
• 1. Rising peak deficits boosting PLFs and coal plant incentives in FY26-27
• 2. Timely commissioning of thermal/RE capex supporting profit growth
• 3. Higher profit contribution from subsidiaries/JVs M
• @beatthestreet10
• HSBC ON ASIAN PAINTS (CMP: 2,406.1)
• MAINTAIN BUY
• TARGET: 2,800
• (Previous Target:2,900)
• Demand Green Shoots Emerge, But Push-pull Continues Due To Early Monsoon
• Q2 To See Benefit Of Early Festive Season
• Higher TiO2 Prices Could Be Offset By Lower Prices On Other Raw Materials
• Lower FY27/28 Revenue & EBITDA Estimates By 1-3%
• Retain Buy As We Expect A Broad Competitive Equilibrium Over FY27
• Expect 12% EBITDA CAGR Over FY25-28
• @beatthestreet10
• AVENDUS ON L&T
• Target price raised to ₹3,000 (vs. ₹2,900 earlier); Reduce rating maintained
• Stay cautious as domestic order inflows grew just 6% in FY25, a trend expected to persist in FY26E
• Concerns remain over headwinds in the IT & Services segments
• International prospects for FY26 are a positive surprise
• prices may limit conversion of prospects into actual orders
• Given potential growth challenges beyond FY26, we assign a 20x multiple to the core construction business
• @beatthestreet10
• RBI eases norms for banks & NBFCs investing in AIFs
• -Collective exposure of all regulated entities capped at 20% Vs 15% proposed in draft norms
• -RBI caps single entity exposure to 10% of AIF corpus
• -Investments up to 5% allowed without restrictions
• -Investments over 5% in AIFs with debtor firm exposure need 100% provisioning
• -Provisioning capped at direct exposure amount to such debtor firms
• -Equity instruments like shares, CCPS & CCDs excluded from provisioning norms
• -Contributions in subordinated units to be deducted from Tier-1 & Tier-2 capital
• -New norms effective from January 1, 2026
• @beatthestreet10
• NIFTY EARNINGS UPDATE
• EARNINGS SO FAR
• NIFTY   28/50
• ABOVE -6
• BELOW -7
• IN-LINE - 5
• MIXED-10
• @beatthestreet10
• GLOBAL CUES | JULY 30
• PRE-MARKE Flat to soft opening likely for Nifty
• ???????? Trump on India:
• "India to pay 25% tariff" — deal not finalised. Calls India a friend, but says it charged more tariffs than any other country.
• Oil:
• Brent holds biggest gain in 6 weeks. Now above $72/barrel after 3.5% surge. Trump warns of more penalties on Russia if no Ukraine truce.
• ???????????????? US-China Deal:
• No concrete outcome from Norway talks. Deal may see further extensions.
• IMF Outlook:
• Global economy weakening, vulnerable to trade shocks.
• Global GDP: 3.0% (2025), 3.1% (2026)
• India GDP raised:
• • FY25: 6.4% (↑ from 6.2%)
• • FY26: 6.4% (↑ from 6.3%)
• Gold:
• Rises on safe haven demand post Trump commentary. Tariff deadline: Aug 1.
• FOMC Meet (July 29–30):
• Outcome due tonight. Rates expected to stay at 4.25%–4.5%.
• Big Tech Earnings This Week:
• Apple • Microsoft • Meta • Amazon
• DXY near 99:
• Negative for emerging markets.
• @beatthestreet10
• AVENDUS ON GAIL
• Target price: ₹205 | Rating: Buy (maintained)
• Positive earnings outlook driven by strong core transmission growth and a steadier, more profitable marketing segment
• Margin weakness in the petchem segment is fully priced in
• We expect 26% EBITDA growth over the next two years, led by 6% volume growth and a 10% tariff increase
• Estimated EBITDA: ₹13,300 crore (FY26E) and ₹15,200 crore (FY27E)
• Capex built in at 11,000 crore annually over the next two years
• Estimated net debt of ₹16,500 crore in FY27E
• @beatthestreet10
• NUVAMA ON VARUN BEVERAGES
• (CMP: 513.90)
• MAINTAIN BUY
• TARGET: 606 (Previous Target:₹659)
• Reported 2.5% YoY Dip In Q2CY25 Revenue, Slightly Below Our Estimate
• EBITDA Remained Flat YoY & Is Higher Than Our Estimate
• September Quarter May Be Affected By Heavy Monsoon Rainfall
• Given The Miss In A Key Quarter, We Are Cutting CY26 EPS Estimates By 6%
• @beatthestreet10
• RELIANCE INDS
• RELIANCE MAY ACQUIRE SHUNYA TO ENTER ZERO-SUGAR BEVERAGE MARKET – ET
• Positive Impact
• • Strategic Acquisition: Reliance Consumer Products may acquire majority stake in Shunya (Baidyanath Group).
• • New Market Entry: Foray into zero-sugar beverage segment to tap health-conscious consumers.
• • Fourth Beverage Buy: Follows earlier buys – Campa, Sosyo, and RasKik.
• • Healthy Drink Focus: Supports rising demand for wellness-focused drinks in India.
• • Expansion Plans: Company to invest heavily in beverage capacity expansion.
• @beatthestreet10
• TATA MOTORS
• TATA MOTORS TO ACQUIRE IVECO FOR $4.5 BILLION IN BIGGEST-EVER DEAL – ET (SOURCES)
• Deal Size: Acquisition of Italian truck maker Iveco for $4.5B – Tata’s largest-ever deal
• Seller: Acquiring from Agnelli family, current controlling shareholder
• Strategic Move: Tata’s 2nd biggest buy after Corus
• Global Expansion: Boosts global presence in commercial vehicle market
• Synergies: Product, tech & market synergies expected, esp. in Europe
• Note: UBS maintains SELL rating on Tata Motors post this report
• @beatthestreet10
• ULTRATECH CEMENT
• ULTRATECH PLANS ₹10,000 CR CAPEX; TARGETS 7% GROWTH IN FY26
• Positive Impact
• Growth Target: Aims for 7% growth in FY26
• Capex Boost: ₹10,000 Cr allocated for capacity expansion & efficiency
• Recent Acquisitions: India Cements & Kesoram push capacity to 192.26 MTPA
• Milestone Ahead: Nearing 200 MTPA, reinforcing market leadership
• Likely Impact:
• • Strengthens long-term growth outlook & market share
• • Capex reflects confidence in demand recovery & infra push
• @beatthestreet10
• GE VERNOVA Q1 CONCALL HIGHLIGHTS
• ■ Overall Performance
• Strong quarter with high demand, revenue growth, margin expansion, and cash generation.
• Order book and execution strength support long-term growth visibility.
• ■ Financial Highlights
• Order Booking: ₹16.2 bn (+57% YoY); 86% domestic, 14% international.
• Revenue: ₹13.3 bn (+39% YoY); 61% domestic, 39% from profitable export backlog.
• Order Backlog: ₹129.6 bn (covers ~3 years of past revenue); 97% from PSUs/private players.
• PBT: ₹3.9 bn (>2x YoY).
• Cash & Equivalents: ₹12.2 bn (vs ₹10.5 bn in Mar’25); cash generation ₹1.7 bn.
• EBITDA Margin: 29.3% (up 1000 bps YoY); driven by volume, pricing, cost productivity.
• Dividend Announced: ₹1.3 bn (subject to approval).
• Capex Announced: ₹2.5 bn (₹1.4 bn for smart grid; ₹1.1 bn for capacity expansion).
• @beatthestreet10
• AXISCADES ; Co Wins ₹600 Cr Defence Electronics Orders Across Radar, Naval & Airborne Programs
• Positive Impact
• Strategic Orders Secured: New defence electronics orders worth ₹600 Cr across airborne, naval, and radar programs.
• Su-30 MKI Upgrade: Supplying AESA radar components to replace Russian-made systems.
• Surveillance Radars: TR modules for S-Band surveillance enhance detection & signal integrity.
• LRBMR – KUSHA: Development support for indigenous long-range radar with 500+ km detection range.
• E-HWT & Sonars: Advanced torpedo homing tech and sonar systems for submarine warfare.
• Execution Timeline: To be implemented over 3–5 years, ensuring steady revenue flow.
• Overall Impact:
• Strong Positive — Reinforces AXISCADES’ role in India's defence modernization and self-reliance drive; boosts long-term growth visibility and deepens ties with DRDO and defence PSUs.
• @beatthestreet10
• Deep Industries Ltd. (DIL) – Positioned for Strong Growth in Oil & Gas Services
• Deep Industries is gearing up for major growth, backed by strong contracts, new assets, and rising demand in India’s oil & gas sector. Founded in 1991, DIL covers over 70% of post-exploration services, making it a key player in the value chain.
• Dominant Market Position
• Holds 85% share in India’s outsourced gas compression market (ex-CGD)
• Strong tender success: >50% in gas processing, >25% in rigs
• Known for end-to-end solutions across drilling, production & processing
• Growth Drivers
• 1. Rising Rig Count: From 14 in FY24 → 20 by FY26E (most under contract); EBITDA margin >40%
• 2. Gas Processing Facilities: 3 existing, Bokaro commissioned in May 2025; 2–3 more planned
• 3. New ONGC PEC: ₹14 bn, 15-year contract in Rajahmundry; starts Sept/Oct 2025
• EBITDA margin ~50%, daily output of 180k m³
• 4. Based on $7.5/mmbtu gas price; current rates $12–14 could double revenue
• Dolphin Offshore Acquisition
• Revenue share to rise from 13% (FY25) to 35% (FY28E)
• DP2 barge “Prabha” secured $32.85 mn lease in Mexico
• Daily rate ~$30,000; margin ~60%
• Adding 2 AHTS + 3 DSV vessels by FY28E
• Expanding Order Book
• ₹6.3 bn (FY22) → ₹12 bn (FY24) → ₹30 bn (FY25), +148% YoY
• Recent wins include:
• ₹14 bn PEC (ONGC)
• ₹907 mn (ONGC – 100MT rig)
• ₹620 mn (Selan – drilling services)
• Financial Projections FY25–28E
• Revenue CAGR: ~31% (₹5.8 bn FY25 → ₹13 bn FY28E)
• EBITDA margin: 40% → 44–45%
• EBITDA CAGR: 35.4%
• PAT CAGR: 28.4%; margin >25%
• RoE: 14.5%, RoCE: 17.6%
• CFO CAGR: 26.5%; WC days down from 272 → 144
• Capex plan: ₹13 bn for growth
• Comprehensive Service Portfolio
• Gas Compression & Dehydration: 70+ units, 100k HP, 99% uptime
• Drilling & Workover Rigs: 16+ yrs exp, 11 rigs; 20% of India’s well activity
• Integrated Project Mgmt (IPM): Turnkey contracts, 10–15% growth, 40–45% margins
• Charter Gas Processing Facility: Full lifecycle services (design to operations)
• Subsidiaries & Strategic Moves
• Dolphin Offshore: 75% stake; offshore & shipping services
• Kandla Energy: Chemical production for backward integration
• Other arms in booster compressors, international services, onshore/offshore JVs, shipping, and advanced rig tech
• Macro Tailwinds in Oil & Gas
• India to be world’s fastest-growing oil demand center (2025–26)
• Domestic production rise: ONGC + Oil India = 70% of output
• Govt support via OALP, HELP, DSF & fast-tracked approvals
• Goal to cut import dependence to 50% by 2030
• PSU capex increasing
• Key Strengths
• 99.6% execution efficiency (vs 10–12 months for peers)
• Fast resource deployment across India
• Strong liquidity & operational discipline
• Expanding gas compression demand
• High-margin value-added services
• Risks
• Execution delays or penalties
• Crude price crash = capex cutbacks
• Operational hazards, regulatory risk
• Legal Win
• Arbitration victory vs ONGC: ₹1.08 bn awarded; 75% received
• Outlook: With a fast-growing order book, strong industry tailwinds, high EBITDA projects, and a focus on high-margin assets, DIL is set to ride India’s energy growth .
• GRAVITA INDIA :
• Q1 FY26 saw strong YoY performance with Revenue up 15% to ₹1,040 Cr, Adjusted AITA up 32% to ₹111.7 Cr, and PAT rising 39% to ₹93.26 Cr.
• PAT margin stood at 8.97% and AITA margin at 10.74%, reflecting improved efficiency.
• Company remains net-debt-free, with 47% of revenue from value-added products, nearing its Vision 2029 target.
• @beatthestreet10
• GRAVITA INDIA :
• Q1 volumes grew 12% YoY, aided by a strategic shift of operations from Africa to India to capture higher margins.
• Improved scrap availability was driven by stricter EPR and BWMR norms.
• Segment-wise AITA/ton stood at ₹21,790 for Lead, ₹17,140 for Aluminium (margin volatile due to absence of hedging), and ₹10,213 for Plastics.
• Plastic segment remains stable, though volume scale-up is still underway.
• @beatthestreet10
• GRAVITA INDIA :
• Lithium-ion recycling pilot at Mundra to go live in Q2 FY26; positioned as a long-term strategic initiative.
• Rubber recycling gaining traction with Romania plant stabilizing and Indian unit set to launch by Q4 FY26/Q1 FY27; revenue potential of ₹300–400 Cr by FY28.
• Plastics segment expected to scale volumes later in FY26.
• Company remains on track to meet FY27 ESG goals, with extended sustainability plans through FY34/35.
• @beatthestreet10
• GRAVITA INDIA :
• Q1 capex at ₹60 Cr; plans to invest ₹350+ Cr in FY26, funded partly by ₹19 Cr treasury income.
• Vision 2029 targets include 25%+ volume growth, 35%+ profitability growth, ROIC >25%, and 30%+ revenue from non-lead businesses.
• Also aims for 30%+ energy from renewables and >10% cut in energy intensity.
• Indian aluminium utilization remains low at 5%, expected to ramp up to 20–30% by Q4 FY26; MCX alloy listing seen in Q2.
• @beatthestreet10
• GRAVITA INDIA :
• Africa unit received BIS approval, enabling margin-accretive sales to India while continuing to use local scrap sources.
• Operations remain insulated from European scrap dependency.
• The company is actively exploring M&A opportunities in Eastern Europe, Middle East, and Asia Pacific.
• Acquisitions are expected to materialize within the next 12–18 months.
• @beatthestreet10
• RELIANCE INDUSTRIES :
• Reliance plans to sell 5% stake in Jio via IPO, aiming to raise over $6 billion, according to Bloomberg.
• Discussions are underway with SEBI for a smaller float.
• Jio's valuation may exceed $100 billion, with IPO expected in 2025.
• @beatthestreet10
• MARKET VIEW :
• Nuvama turns cautious on small & midcaps citing high valuations and slowing profits.
• Insider selling is rising, domestic flows are moderating, and India’s EM appeal is waning.
• FIIs now hold the key, but an ageing bull market risks stalling unless meaningful policy easing revives sentiment.
• @beatthestreet10
• TARC :
• TARC’s arm Fabulous Builders has received RERA approval for its luxury residential project ‘TARC Trigun’ in Chattarpur, Delhi.
• Approval was granted on July 28, 2025 (Reg. No. DLRERA2025P0013).
• The clearance enhances project pipeline visibility and supports future revenue growth.
• @beatthestreet10
• KEC INTERNATIONAL :
• Q1 revenue rose 11% YoY to ₹5,023 Cr, led by strong T&D execution.
• EBITDA grew 19% YoY to ₹352 Cr with margin expansion of 50 bps to 7%.
• PAT stood at ₹125 Cr, up 42% YoY, aided by lower interest and tax costs.
• Order inflow crossed ₹5,500 Cr; total order book at ₹34,490 Cr with strong L1 and tender pipelines.
• @beatthestreet10
• KEC INTERNATIONAL :
• T&D segment contributed 63% of revenue, rising 26% YoY to ₹3,157 Cr.
• Order inflow topped ₹3,200 Cr from India, MEA, and the Americas, with margins in double digits.
• SAE Brazil reported ₹359 Cr revenue (up 4% YoY) amid strong hardware demand.
• Capacity expansions underway at Dubai, Jaipur, Jabalpur, and Ghuti; 4 HDC projects under execution.
• Management sees a positive outlook across India, MEA, Africa, CIS, and Far East regions.
• @beatthestreet10
• MUTHOOT MICRO :
• Muthoot Microfin has entered Assam with its first branch in Mirza, Guwahati, expanding into Northeast India.
• This marks its presence in 21 states/UTs and aims to enhance financial inclusion in underserved regions.
• The branch will focus on empowering women-led businesses with tailored lending and community development support.
• The Northeast market offers strong long-term growth potential for micro-enterprise financing.
• @beatthestreet10
• KEC INTERNATIONAL :
• Civil segment reported ₹940 Cr revenue, affected by labor shortages and delayed water segment payments, but recovery is underway.
• Order wins of ₹2,100 Cr came from buildings, semiconductors, mining, and residential projects, with execution across 70+ towers.
• Railways segment posted ₹471 Cr revenue, supported by key projects like the Chenab bridge and Gujarat electrification.
• Railway order book stands at ₹3,000+ Cr, though growth is hampered by supplier issues in signaling & telecom.
• @beatthestreet10
• KEC INTERNATIONAL :
• Cables segment posted ₹383 Cr revenue (▲5% YoY); margins were impacted due to commissioning and approval delays.
• Aluminium conductor capacity is being doubled at Vadodara; e-beam and elastomeric cables to go commercial by FY-end.
• Renewables revenue surged 87% YoY to ₹136 Cr, with major solar projects in Karnataka and Rajasthan.
• Company targets ₹3,000–₹4,000 Cr renewable EPC revenue in 2–3 years, staying asset-light.
• In Oil & Gas, secured a new international order; focus remains on MEA and Africa amid weak domestic pipeline.
• @beatthestreet10