This video provides a comprehensive analysis of India's equity markets, focusing on Nifty50 performance, sectoral trends, and stock-specific investment recommendations. The analysis covers market breadth indicators, advanced decline ratios, and options expiry dynamics, while offering expert insights on individual stocks including MRPL, Sangi Movers, and Hitachi Energy. The segment also examines broader economic factors such as geopolitical tensions, oil prices, and monetary policy implications, providing investors with a holistic view of market conditions and strategic investment opportunities.
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My name is Pun Zei. With me as always is Mahima Varjani. And uh if you haven't already, do start sending in those stock related queries as well. And before we do that, a very very quick check of how the markets are doing because it's a start of a new series for June for the FNO setup. And uh while in the morning we did continue that momentum in the green after a very stellar session yesterday uh that momentum seems to have phased out for now with the nifty now down almost 100 points at this point of time with a very crucial 90 minutes of trading left for today's session. When you also look at uh the sectoral heat map though that gives you a perspective across a whole bunch of you know sectors that are uh seeing that impact. So you're seeing consumer durables, PSU banks, the realy u as well as the private banking space largely being sold into at this point of time and hence uh you're seeing the pressure. Pull up the the nifty50 heat map as well for these individual stock movers uh as well and and that'll be another key perspective to watch. Adani Enterprises, Tata Motors PV continues to be doing well uh in today's trading session. Coal India as well. While in terms of losses, you're seeing that on Titan, Apollo Hospital, Kotak Mahindra Bank as well as on TCS.
Uh but in let's also quickly put up the nifty bank as well because yesterday was a session a very stellar one at that and you saw 55,000 being broken through.
We're still continuing to maintain that level on the lower end of the race spectrum. So uh it'll be important where we end. But in terms of the broader markets the advanced decline ratio also you know giving you that perspective for you know that's of course the midcap 150 in terms of the advanced decline we're now at a very very important juncture as we highlighted both ends um you know went across their own way for today's trading session have now converged through at this point of time so um you know the technical view of course will be very important here as well of where we expect the nifty to go through from here but mima at very important in juncture yet again.
>> Yeah, I mean look at that >> cha just kissing through and then yeah >> I I don't think I've seen that before.
Very interesting. But um I mean not at exactly at this point is you know the whole thing. Let's try to pull up the midcap 150 and the small cap 250. uh because uh cooled off quite literally from its days high point for both of these indexes right the midcap 150 now just trading around.1% higher and uh same is the case with small cap 250 as well and the BSC 500 if you can see as to what are the counters that have kind of contributed to that um you know both these indexes touching days low point you have kelast corn continues to be under pressure of course polymedicure there's rvnl there's abfrl which is also seeing down 3.4% you know it's interesting because brokerages did say today that numbers were good for ABFL but you know it's still a lossmaking company still there is no significant growth when it comes to their same so and that's why we're seeing that pressure coming in but on the flip side you have something like Ajindal and IFB and Adari total gas that are holding up very well and keeping all of these indices in check but let me also you know start taking all your stock related questions and to answer them we today joined by Mr. G Chokingham who's the founder and MD of economics research and Sachin Janardan who is the independent market expert joining us now. Very good afternoon to both of you. I'll take up the first question which is on MRPL. So Sheila from Bellery has bought MRPL at the levels of 179. She's holding around 5,227 shares and she wants the short-term targets for this one. So Sachin your view on the charts for MRPL. So MRPL currently has broken down the 200 day moving average continuously making a lower of lower bottom formation which is bearish in nature. Uh in the recent terms if she wants to hold she can hold with a stop loss of around 135 levels.
Uh if that levels is holding on a closing basis she can hold and then we can expect at least 160 to 170 in the near term but we cannot expect more from this stock as of now. the view Sachin but let's go across and you know take another query and this one's on Sangi movers uh reacting this week at least you not reacting too much today but Kishor from Bengaluru actually is holding shares at 280 so he's been smart enough to write the move and post the quarter 4 results as well he's holding 600 shares and um asking a question you know what he should do with this particular counter now Mr. Chokalingham a very good afternoon to you sir thanks so much for joining and it's good to have you back any view that you have on sangi movers you know quarter 4 was a strong set of numbers uh if you track it any view that you can give kishor >> yeah certainly the performance was quite good in Q4 and P is also only around 17 and these kind of infrastructure companies can easily command even 20 PE so therefore I believe it's a good to hold and hope for at least another 10% % return from here.
>> Okay. All right. The next one is coming in on Tech. Jatin from Chandigar is holding 150 shares at average price of 1240. He wants to know if we can continue to hold this for a year or so.
Sachin on the charts.
>> Uh on a charts actually it is making a lower high lower uh low pattern basically which is bearish in nature and not only on daily charts it is actually bearish on weekly charts as well. So from a one-year perspective as well uh the stock is not like looking good but still if the stock is holding 1 levels on a closing basis he can hold but as soon as 0 is broken uh one needs to exit it.
>> Got that view Sachin but the next question and uh this one you know we've been getting quite a bit on the EMS space and this one is from Sur from Kerala. He wants a long-term perspective on Kane's technologies. He's bought these shares at 5,600 door. So he's currently sitting on deep losses for this counter asking u if he should average at this level. Mr. Chokalingham based on what we've heard from the management and of course over the last couple of weeks would you recommend averaging down right now on Kane's throwing more money on what's been a lossm venture for for Suresh or should he invest that surplus somewhere else?
Right now >> I would not suggest uh averaging down.
At best one can hold on because it's trading at a traing P of 60 but then the profit growth is very poor which doesn't suggest uh you know justify this kind of valuation. So I would say hold for longterm and hope for uh some recovery you know from current level in case it is able to improve the operating margin and post at least 20 30% yearon-year profit growth then only one can consider accumulating more and averaging it.
>> Okay. All right. The next one is on Marxon's farmer. Sandep is holding 1200 shares at the levels of 213. Wants to know whether to sell or hold. uh he's writing us from Abu Dhabi. Um Sachin on the charts he's already sitting on hands and profits of around 45,000. What should he do?
>> So on a chart basically on all the time frame daily, weekly and monthly time frames the stock is actually making a higher bottom. So he can hold basically and he can trail the stop losses. Uh the trailing stop loss will be around 218 levels.
>> Got that view. And uh the next question and you know viewers you can also call us as well as speak to our guests directly on your stock related queries.
The number is flashing on the top of screen up there as well. That's the landline number that you can call us on.
Uh but uh pardon me let's go across take another question now on Hitachi Energy.
This one has been arguably one of the more important results for today. Stock was down early on saw some recovery is now again in the red and you know our viewer Jeet from Kolkata is holding shares at 32,100 odd rupees and asking you know what didn't work for the company essentially and he wants to hold it for the next one year. Mr. Chokalingham u maybe just some uh some gross margin impact I think street's not liking that one bit at this point of time in the results but what's your view on Hitachi uh is it a good pick to hold for the next one year for Jeet >> see on FI26 fular basis it has done phenomenally well it has improved a margin substantially sales growth is huge operating profit has almost doubled so it's a great company but if you Ask me whether the valuation is also great enough to attract. Certainly not.
Trading at around 154p. I think it has captured all the good news. So I would uh sell in case the stock you know goes up further even 5 10% from the current level.
>> Got that view. So definitely some valuation concerns probably catching up now and and that's what Mr. Chokingham also recommends to watch out for for Hitachi Energy as well. results as he mentioned FI26 was a stellar year so was for its peers as well in the space but let's go across another very interesting question now uh and Mr. Chelingham this one's coming your way on techno electric I think it's another casualty in that sense let's pull up the counter and Satyan is asking what if you have a current view on the counter stocks trading down 12 and a half% uh how do you view this is this a correction to buy into Mr. struggling >> certainly one can buy. We closed at around 1370 you know after seeing 30% return but unfortunately you know the results was not up to expectation that is mainly because of material cost.
There is no problem with the topline growth. So material cost that is again on account of base station crisis the company lost out on margin and profit has not grown the way it was expected.
But if you ask me the prospects for medium to longterm, I think it's a phenomenal. So this 12% correction is a good opportunity to accumulate the stock for medium to long-term because it has got both vertical data center as well as power infra both have a very good uh long-term growth opportunities.
>> Okay. All right. The next one is on Anupam Rasayan and this is uh you know from a slightly long-term perspective.
Our viewer wants to know whether it makes sense to kind of take an entry into this counter right now. Sachin your view?
>> Uh the stock is actually making a higher and higher low pattern. Uh the trend of the stock is also good. Only thing missing is momentum basically. So currently if someone wants to uh right now wants to add can add 50%. And the momentum will come above 1415 levels. So if the stock is closing above 1415 levels we can be a good momentum.
>> Got that view Sachin. Uh Mr. Mr. Chokingham also just if if you also have a view on Rasan you also had that acquisition of Bliss Gvs in this quarter did you by any chance study that anything that you can offer acquisition was a very decent enough I studied that it is around three times enterprise value to pharma sales which is in line with industry standard so it was a good deal it's good for anom rasan but an rasan stock valuation I'm not comfortable if you see last three year c in profit net profit is not able to justify the current PE valuation. So uh I would at best give a whole recommendation on anom got that view Mr. Chelingham. So acquisition is good uh growth seems to be a concern for now and that's reflective on the valuations according to Mr. Chokingham but let's go across take another caller from Nida Rajes has a stock query for us. Rajes very good afternoon to you. What's your query?
Yeah. Yeah. I have uh I had uh 135 shares of max.
>> Okay.
>> At the rate of 983.
>> Okay.
>> So I think uh normal results are there.
So can I buy more?
>> And have you bought these shares Rajes for the long term?
>> I need 20% profit whether it is long-term or shortterm.
>> Okay. You need 20% profits. Okay. Uh let me probably get across to Sachin. Then Sachin on max health do the charts suggest an up move from here. That's a very direct question but does it suggest so?
>> So uh from a that perspective 20% definitely it is not going to give 20% as of now because the trend of the stock is down. Any moment where it is getting a pullback the pullbacks are being sold basically and making a new lower right now 900 is a good support level. If that is holding on a closing basis, uh the at least charts will then say like it will come around 1,000 levels again or 1,100 levels in that case. But uh I don't feel more upside in that case.
>> All right. Okay. So that's the view coming in on Max Healthcare. The next one that we have is on BEF. Sriram Raguraman from Chennai is holding 150 shares bought at the levels of 76. uh he says that he's been accumulating this counter since 2021 and still wants a view from a 2-year time horizon point of view. Um Mr. is already sitting on profits of around 51,000 rupees. Do you recommend to recommend him to continue to hold? I prefer H to B in terms of valuation as also in terms of diversified business model and also the grass cash in H is much more than annual sales and repair and maintenance segment accounts for almost 3/4 of the revenue which gives me a lot of confidence about future profit you know stream so I prefer h to be >> uh got that view Mr. Chokingham uh then and and you know that's an interesting call because you've seen u uh also Mr. So chokingham though you know if if I can just be the be the bearer of bad news in that sense because we've seen a lot of delays right in terms of delivery of the ta especially uh the engines with issue the engines issue with GE uh you don't think that's a concern or is it that the long-term prospects are you know guaranteeing some of that you know issues to get solved in the near to medium term >> that is a concern one cannot deny that but as I mentioned uh I don't know why this particular fact is not widely discussed. Almost 3/4 of the revenies are through maintenance and repairs. Uh so which is going to be very steady you know and also if you look at the order book it's a very phenomenal. So therefore I believe the company can manage the other concerns and continue to reward the investors.
>> Okay. All right. So that's the view coming on BE as well as H. The next one that we have um is I think we've got a caller Praep I think is calling us from Chennai. Praep very good afternoon to you. What's your query about?
>> Yeah. Hi ma'am. Uh I'm Praep here. Uh I just called uh sold BC and MC with 40%age of profit last week. Uh seems like it's getting more stronger and stronger. M >> so whether I can enter now or wait for a dip.
>> Okay. And you want a technical view I believe.
>> Yeah. Yes.
>> Okay. All right. Sachin your view on the charts for BSC as well as MCX.
>> So both the stocks actually are making uh lifetime higher levels and making a higher and higher tops on every time frame basically. So what we can suggest right now is to at least get a some kind of a pullback entry not right now because that will be very elevated levels. So at least a correction of 5 to 10% would be a good entry levels because the support levels are very far away as of now in both the counters.
>> Got that view Sachin. So that's on BSC as well as on MCX. But let's go across take another question now from V Murli from Bengaluru and he is holding on to JK cement at 5,46.
Now results came just a couple of days ago and you know has been an okayish picture if I can use the term and you know he wants to know a 9 to 15 month view but wants a fundamental view at this point of time. Uh Mr. Chokalingham how did you view the results because u while while there have been a lot of good things that the management has done the the guidance for aida return doesn't seem to be you know any growth essentially from the last year's level would you still continue to hold on to this counter what's your view on JK cement >> at best one can hold but personally I would sell in case it starts moving up as you rightly mentioned last 3 years if you see annualized basis the profit operating profit growth is not there almost stagnating even on latest quarter the year on year growth is you know missing there is no significant growth and trading fee is also around 40 with this kind of uh you know performance at the bottom line so I think it's a fairly priced so I would sell in case it stock improves from current level >> okay all right the time for a rapid fire round Mr. as well as Sachin. Try to keep your answers um as short as possible.
The first one that we have is on DML. Uh our viewer Dilip from KVA has got 80 shares at the levels of 1830. Continue to add more exit. Sachin hold.
>> Uh next one is Bosch bought by DIP at 36,412.
Mr. Chokingham, would you recommend continue holding this counter for now?
>> Hold for long term. Adita Infoch a long-term entry in this would be um you know advisable right now Mr. Sorry, I've not studied it.
>> Okay. Any view on the chart, Sachin? Uh, >> he can enter.
>> Uh, and Sachin, any targets because it's seen quite a bit of run up, right?
Already. Any view? Any targets?
>> So, on target basis, we can see at least 2750 and 2920.
>> Okay, got it. Uh, Olympic Pharma for the long-term is what Jooshi is asking from Troan and Puram. Would you recommend that, Mr. Joelingham?
>> Yeah, one can hold it.
>> Okay. uh TD power systems is this the right time to enter around 1 lakh rupees from a perspective Mr. uh only very extraordinarily risk-taking investors can enter.
>> Uh is Punaala fin a good time a good stock to buy right now? Uh Sachin >> uh no.
>> Uh Angel 1 1200 shares bought at the levels of 323. Rajesh Kumar from Vijayada wants to know whether to hold or sell. Sachin >> hold. on uh the next question coming in you know on NHPC at the current market price is it a good time to enter Sachin >> NHPC no >> uh ex is the other one Jitin from Kerala is holding 260 shares bought at the levels of 215 from a long-term perspective Mr. for you to hold >> any rise I would sell because it lost the monopoly status.
>> Got it. Uh a viewer is holding 20 shares of Nestle but at just very close to the current market price. He's still in profits door asking if he should continue to hold or sell out and buy LG Electronics. Mr. Chelingham considerative investor is good to hold in SLA because it has improved performance in the latest quarter.
>> Okay. Jindal stainless 200 shares borrow the level of 770 2 months targeted stop loss on this one. Tachin >> uh stock is in a downtrend so I think the level will be exit.
>> Got it. Uh next one's on precision wires. Thiagar Rajin from Vietnam is holding shares at 342.
Uh should he continue to hold his 3,000 shares? Mr. Jokalingham he's in a massive profits right now.
>> Uh it's so valuation is strict. One can sell if it starts moving up 5 10%.
>> Idea forge is it a good hold considering uh that our viewers has bought it at the level of 821. Sachin >> yeah he can hold there's no problem.
>> Uh eenkarman is holding on to JK paper and paper but he's in a loss of 15% on both counters. Mr. Chelingham should he exit or continue to hold? If somebody's willing to wait for 2 3 years then one can hold because within 2 three years paper industry certainly will turn around but otherwise in the short term very difficult to make money in pepper business.
>> Got it. Fair point Mr. Cholingham and that is actually the end of the rapid fire as well as this edition of ask profit such as well as Mr. Chokingham always a pleasure. Thanks so much for joining in and giving us your views across a whole bunch of stocks and spaces. But viewers out of time on this edition of for ask profit. Thanks so much for watching. India market close comes up next.
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>> He has been tracking markets for over a decade. Spots the trends before they hit the screen and he is now bringing his analysis.
Hi, thanks so much for joining in.
You're watching India Market Close. My name is Alex Matthew and with me is Hiral Dia. And just over the last 1 one and a half hours or so, you're seeing a little bit of a slide in the Nifty50, aren't you? Uh you're currently trading at 23,930 and you've given up about 150 points from the high point of the day. Pull up the intraday chart for the 50 over here is that it is expiry. Volatility is high and that's the reason why you're seeing this kind of profit booking as well that's coming in in terms of today's session.
>> For a short while you actually managed to have the Nifty50 trade in the green.
It was shortlived because that drop from the high point to where we are at right now is about 150 points or thereabouts.
pull up the heat map for the nifty50 because at the broader end if you look at the overall breadth heral for the market it's actually even stevens between the advances and >> but I think it's more in terms of the declines if you have to look at nifty50 >> for the nifty50 for the broader market >> and that's also telling you something but broader markets I think there is little more juice left there we will come to that but here categorically you have a a polar hospitals a lot of Tata group companies are under pressure as we know the board meeting is ongoing you've tightened trend TCS are just a sentimental move coming in there.
Financials from a Kotak Mahindra Bank to a SBI life access bank trading under pressure. Sriam finance is well down.
You know what's holding up is a Adani Enterprises very strong coming in there.
Yeah, >> you have Tata Motors PV again strong moves there. In fact, you know, one of the things we're exploring right now is the Vahan data. So far, whatever the numbers that have been clocked in in the month of May, it seems this is going to be a record-breaking year. eighth year where we've seen the highest number coming in since 2018 and whether this is peing or not is the question >> specifically on automotive it it was interesting to listen to the management of Sandhar this morning when we spoke to them and I'd invite you to go and check out the conversation because according to him he was taken aback and surprised that the demand on the ground particularly for two wheelers has remained robust even in spite of the crisis in West Asia and this might according to him be a record year for the Indian automotive industry as a whole. Pull up the sectoral indices because you're likely going to see only a a couple of three or four major sectors in the green. The rest are just about hovering around that flat point, right? So, you have the metal index that's up about 1%, energy that's up about half a percent or so, and nothing else really sectorally that's doing well.
>> Likewise on the losers as well, Alex, if you go to see, it's just the consumer durables which are seeing cuts upwards of 1%. But again that range is pretty narrow in terms of the losers 210 of a percent to maximum 6/10 of a percent and that also is coming in in the banking space. The private bank index the PSU bank index and the PSU services. So all the three are the ones which are under pressure but apart from that realy has been doing probably this is a phase of profit booking which is coming in after that runup that we've seen. Let's just look at the midcap and the small cap as well over here because the components will be interesting to watch out for.
You know, you've given up gains on the midcap 150, but I think the down tick is not sustaining. It's trying to play that catch up. It's the small cap space after that surge that we've seen over the last couple of trading sessions. That's where maximum profit booking is coming in from the highest levels, but still you're trading in the positive with gains of 210 of a percent. Quick one on NE 500.
on NE 500. I also want to look at the advanced decline ratio ratio hero because at this point so okay let's mark some of these right Jindal poly you have IFB FTC Adani total has been buzzing in trade >> total I think has got a a new CEO and since then I think that stock is up in trade so that's interesting >> and quite a few of the losers are actually moving on the back of earnings and we'll bring you the earnings flops of the day so far but Concore is arguably the stock of the day we'll talk about that chem plus poly RVN All of them are all on the back of earnings.
It's interesting to see a campus which is reacting to numbers as well. 60% up move coming >> quite a few of them and you have Marxins farmer that also reacted to the numbers >> very strongly. 13 14% is the kind of search and you know your cement players undoubtedly over the last couple of days have been picking up a lot of pace. So I think that's also a segment one should be watching out for. But as Alex wants to look at the advanced decline that one >> yeah because it's closed completely right. You had the widest point here very early on in the session and this is pretty much where you made the high for the small cap index but as you've seen you've actually come off quite substantially at this point in fact the the declines are just about edging.
>> Absolutely. Even Steven's here right now so I think it's going to be interesting to see and this is telling you that it is expiry day and that's the reason why you're seeing this kind of profit booking which is coming in. Let's talk about the factors.
>> Absolutely. Uh so clearly profit booking on the day of expiry value buying seen amongst the small and midcap names and that's what Alex was talking about as well when he's talking about the advanced decline ratio. Now if you talk about the monthly expiry at play 23,850 and 23,800 these are the crucial support levels uh that you're watching out for on nifty50. Now 24,100 is the major resistance level over there as well. And likewise, if you have to look at Bank Nifty, you're seeing profit booking that's coming in on Bank Nifty after two consecutive session of gains. So 54,900 and 54,800. These two are the crucial support levels that you should be watching out for. And on the resistance side, 55500 and 55600, these are the hurdles over there. Now nifty and bank nifty they have seen 66% and 72% of the open interest positions getting rolled over you know and this is uh respectively so 66% on nifty and 72% on bank nifty uh in terms of the rollover data couple of stocks which are seeing the highest rollover tube investments torrent pharma and baj finance these are the ones which are seeing the highest rollover in terms of next expiry data as well so that's what the factors are looking like so far uh In fact, we have Villin Bolinkar also who's joining us on the show and we'll have Kunal Cha, senior technical and director research.
Venit, good afternoon and welcome to the show. This is Hal here. My question to you is the way markets are panning out today is the monthly expiry. You are seeing profit booking today as well. But structurally, are you seeing any green shoots because a lot of two and fro that's happened between US and Iran. uh everyone is talking of a potential deal that could be in the offing as well. Uh crude again till yesterday's session also we saw that it has been sustaining below that $100 per barrel mark and that could be one of the positive triggers but rupee has crossed that 95 mark once again today. So if you have to put all of this together what's the underlying tone telling you?
inflation is going to be quite positive and I'll tell you one more reason for that is that you know in Ashokar which is an area in West Bengal very close to Kolkata there has been a ma massive oil discovery which has happened it was done a few years back it is fairly large quantity and it is an on-site uh you know reservoir so I think that will suddenly put the energy security at the back burner because you know since it's an online discovery and it's uh you know coming to market can be very uh quick you know a bit in like say 18 to 24 months but that would uh you know immediately put things into gear the fact that there is no more a risk of energy security for the country and then you know the government can continue with keeping uh you know the deficit going ongoing you know giving shops to the retailers. Uh so keeping all these things in my mind I think that uh this is a positive. The other positive is that Trump is playing a very strong hand game out here where he's getting all the you know the Islamic countries together to sign the Abraham accords and you know asking them or you know cajuling them to sign the deal and recognize Israel. So lot of positive aspects are at work and if that these things pan out then things will get positive and bank nifty would be one of the biggest beneficiary of that because we've seen inflation not going up too much in the country and if the rupee were to rally positively on all these news then you know rupee could be a how performing factor in the weeks to come.
>> Okay. All right. Um let me double down on that though and ask you uh Venit from a fresh deployment perspective uh just a quick answer here. What would you suggest to deploy into what are the attractive stocks or ideas that you're looking at right now that have relative resilience and margin of safety?
So I think uh we've seen very good uh numbers coming from farmer stock uh you know the uh auto stocks are also doing very well at least the commodity or the ancillaries are doing very well pharma as I mentioned to you electrical space is booming so all these and manufacturing also should do well. So these are some of the really good sector where one should concentrate and uh work around. Okay, Gunal Shah joining us right now, senior technical and derivative research analyst at M Asset Sher Khan. Gunal, thanks so much as always for taking the time. Good afternoon to you. We've seem to be giving up quite a bit of ground and today is of course monthly expiry at least at the index level and you've seen a closing of the gap between advances and declines right now even Stevens what are you taking from the end of today's session? Uh good afternoon Alex. Good afternoon to everyone. See I think what we have seen in the past couple of trading sessions the broader market has been the clearcut outperformer where the mud cap and the small cap index have been making new highs. Uh for nifty I think overall the range what we were trading into 23,300 to 23,800 that has been broken on the upside and we continue to remain bullish. Uh we expect nifty to go towards the previous swing high of 24,600 and eventually expecting targets of 25,000 on the upside. Now the bank nifty index which was the underperformer has started to regain strength which is positive. So bank nifty continues to remain as a buy and dip mode dips to be utilized as a buying opportunity. Now the immediate support for the bank nifty is placed at 54,300 400 zone. So if you get dip towards those levels probably a good entry level to again go on the long side and one can probably expect bank nifty to go towards the mark of 56,400500 on the upside. So overall for the broader indices our view remains bullish and we expect again the uh headline indexes that is nifty and bank nifty to regain momentum and dips if you get into the indices that would be a buying opportunity.
>> Okay so that's with regards to where benchmarks go up. Uh you know kunal what I want to ask you about is before we get into your topics is with regards to bankrupty. last two consecutive sessions we've seen that buying interest today uh profit booking has come in but structurally uh are you seeing strength because the anticipation was that uh bank nifty somewhere is started to build that strength and you're seeing you know some value emerge there as well uh you know what is data indicating >> I think yeah definitely if you look at bank nifty uh it was it is still trading in a downward channel and we are at the upper end of that channel and generally the last leg when it got the when bank nifty bottomed out around 53,000 on the downside. So that remains a very crucial crucial uh level for the bank nifty. So we expect within this rise what you have got from almost 53,000 towards the mark of 55,500 on the upside. So you will have a pullback that could kick in for bank nifty and that pullback to be utilized as an buying opportunity and once we break out over here the channel which is at 55,500 then bank nifty could see a good short covering move towards at least 56500 57,000 on the upside. Okay.
So that's with regards to bank nifty kunal then your top picks would be >> so okay again both will be buy ideas here. The first idea would be from the metal space and that is Hindustan Singh.
Uh again we have seen good rollovers in the next series as well. Plus the stock has been trading over the shortterm moving averages. We expect this move to continue on the upside. Uh again a range consolidation breakout has happened. So the last three to four trading sessions consolidation has been broken on the upside. So that remains a buy. 625 should be a stop loss. I'm expecting targets of 670 to 680 on the upside for Hindustan Z. So that will be the first stock which will be there on the buy side. Uh the second stock where I think the bullish momentum is likely to continue on the upside is again Tata Motors passenger vehicles. So in yesterday's trading session we broke the 200 EMA and again clearcut change in trend and whenever a 200 DMA is reached after a steep correction the move generally continues on the upside. So here it continues to remain on the buy side with a target of 395 400 on the upside which is the next hurdle zone for the stock and once that is taken out we can see this rally extending towards 420 on the upside.
>> Both buzzing stocks in the metal pack as a whole in focus as the top sectoral gainer. But onto the other end of the spectrum, that's where we will find our stock of the day today and that is container corporation of India under pressure on account of a not so positive set of numbers in the fourth quarter and not just a bad performance but also a guidance cut with domestic demand emerging as a key concern. Uh we're joined by part this afternoon just to get a sense on what is happening with the stock. Part why is this the stock of the day? You're right. So, Concor announced its Q4 earnings yesterday and it completely missed the street expectations. While their while their exemp business remained the key driver of profitability by growing around 9% from its bottom line, the domestic segment margins is where we saw the pressure. They sharply declined to just 0.2% from 4.9% yearonear. This is the main reason what this is the main thing that created a drag on their profitability and this is why we are seeing a pressure on the stock today. Uh now moving on to the management commentary. This is where things go from bad to worse. The management has cited weaker domestic demand during the March quarter and they have cut their exim growth guidance from 15% earlier to just 8% now. And not just that they've also cut the domestic growth guidance from 20% earlier to 15% now. And this is up till F29. So they are seeing a big slowdown coming in in the next 2 to 3 years. Now the key things to watch going forward will be the domestic margin recovery. As we saw that in this quarter the domestic margins were completely collapsed. So we'll have to see how those margins recover in the coming time. The second thing will be the volume growth outlook which the management gives after they have cut their guidance. And the third thing will be any further demand slowdown in their domestic segment that could provide even more risk to the company's numbers. Now moving on lastly to the analyst ratings and valuations. In total 20 analysts cover the company out of which 12 have a buy rating, three have a hold rating and five of them are recommending a sell rating on the stock. Also the concourse current PE ratio is at 23.6 times versus a 5-year historical average of 28.6 times. So that means Concore is trading at a significant valuation versus a significant discount versus its historical valuation and and honestly given the guidance cut and the weak numbers I'm not surprised.
>> Not surprised. But uh if you were to enumerate just one thing part that is the reason why the stock is under so much pressure today. What would that one thing be? Would it be the guidance cut?
I I will absolutely attribute it to the guidance cut because uh that the guidance cut is still FY29 and FY29 is still 2 three years away. So both they are seeing a pressure on their margins and they'll be seeing a pressure on the revenues as well.
>> You know in fact one thing I would want to add over here is when I did speak to the management uh this afternoon uh it's not only 29 even if the current financial year that's FI27 is where they've gone ahead and cut the guidance as well. So there are concerns you know which the management is pointing out from uh and the impact is mainly on the back of West Asia crisis and tariffs >> and cement where they needed you know special uh you know >> no special grade uh equipments is what was missing all this while they're trying to ramp up that capacity here as well but that will obviously take some bit of time but the new freight corridor which is opening up is becoming an opportunity as well. So it's interesting to see but the management has also clarified that midyear they will revisit the guidance if things improve. So it's mainly a war impact uh that you're seeing right now. Thank you part uh so much for that. We did speak to Sanjas Farup CMD container corp. Let's listen in uh to what they had to say.
>> Yeah. Uh I would like to at this point I would like to revise my guidance seeing the various uh external factors into consideration. I would like to revise my guidance of exim to 8% and domestic guidance to 15%. Overall guidance will be 9.5%, exim plus domestic combined.
The reasons are the various external factors on which we don't have control at present and maybe in the mid year we will like to again review the situation and we will revise the guidance seeing the various uh external environment in force at that particular time. So right now I will adhere to 8% exim 15% domestic overall 9.5%.
>> Okay. So under pressure on account of the guidance cut and the management there speaking to NV profit. Uh now shifting to another sector entirely and rising polyester and yarn spreads are creating a clear split in the textile value chain. While upstream players are benefiting from stronger spreads pressure is building at the retail end.
And we've got Shahhat joining in to tell you how this is being looked at and what the impact is on the various players in the sector. Shared.
>> Well, in the textile industry, we have been seeing a rising spreads for both yarn and the polyester segment. And as per NDV profits, channel checks suggest that there has been a good move in the last 1 month or so. Overall, the average prices for cotton yarn spreads that has gone up from 130 to 160 rupees per kg.
And the same thing story repeats for polyester spreads as well from 18 rupees to 23 rupees per kg as per the channel checks. Now what's the impact analyst especially with the forward players such as Nitan spinners, Philatex India, Sanatan textiles, this is positive as this rising spreads we can expect further rise or the hike in the fabric prices to the end user as well. Now of course the Q4 demand was strong. Some spillover is expected to happen and the realizations will be strong for these companies in the first quarter and polyester yarn demand is slightly higher on the higher side right now as compared to the cotton yarn and the tight supply demand dynamics is auguring well for these players. But what's not working that is for the end users like Vmart, Vishal, Mega Mart and even cable clothing because there will be margin pressure for these companies and they're into value retail segment. So they cannot increase the price or give a good price you know transfer. So that will be a problem for them. The rising crude cost is impacting their both sourcing costs as well. And because of that there's a huge usage they are doing. To put things in a simplified manner a 10% rise in y prices converts to a 5% rise in the apperal prices. But let's look at the last one year how things have panned out. Largely it has been muted. But what has stood out is Nitan spinners that has jumped 33% in the last one year itself.
And on the other hand for the value retailers nothing much has come in.
Vmart is down 22% while Vishal Mega Mart is down 3% and cable Kiran clothing is flat. So this is the entire story for the textile spreads.
>> Thank you so much for that. You know this is a very interesting data point Charel that you bring to us because uh usually we take a blanket view over here but a category within that you're seeing you know which segments could see pressure segments which could not in fact Sanatan right now as we speak is up a little over 3%. Samir Datani executive director at Sanatan textiles joins in Samir welcome to the show and it's always a pleasure to speak to you. You know my question to you is first up in terms of the spreads that we are talking about uh between yarn and polyester they have surged what would that mean for a company like yours and if you could just help us understand the value chain where it gets impacted.
So for a company like us where we make cotton yarns as well as polyester filament yarns, it's definitely a very positive indicator that with the increase of input prices, our raw metal prices in cotton as well as polyester have gone up. Even our yarn prices have started to move up. So the pass through in the chain has happened. uh that uh ensures that our margins are intact and improving further and uh now with the demand rising and what we're looking up ahead in India starting June onwards till the year end is generally the best time for textiles because it is festive season wedding season Diwali uh all of those important uh demand drivers in India will be coming soon. So for a yarn manufacturer, the planning starts in June, July for something that has to be delivered at the retail counter in August, September, October. So that's going to further support the demand and ensure that uh the the margins remain intact. The demand picks up uh and whatever increase of cost that's happened because of the West Asia crisis is sort of absorbed by all of us in the chain. And because the demand is strong in India, especially domestic demand, we're able to pass through the increased cost.
>> Samir, uh obviously everyone's trying to gauge and good afternoon. This is Alex.
Everyone's trying to gauge what the demand situation here in India is and particular you mentioned that demand is robust. So I'm wondering uh what are the factors that are giving you that confidence because there are concerns that have been raised with regard to rural income if the El Nino effect comes through there's going to be an impact on monsoons and that will carry through in the second half of FY27. So you pointed out that the critical aspect of this year is taken care of but are you worried at all about the second half?
uh Alex uh you know I'm obviously not factoring in uh any unexpected external uh sort of disruptions that could come in the second half. There's so many things going on around us. You said the El Nino effect is there. The geopolitical tensions still continue globally as we are aware. It's not like it settled completely. So I'm not really factoring in any major impact of that uh in what I'm saying. uh what I'm saying is looking at our current order books and our order books for June is what I'm basing basing my statement on. Uh for example, April we did see a little bit of uh flattish demand because there was a sudden rise in input cost and yarn prices after the March you know geopolitical issue that we saw rise in crude and and freights and insurance and all other factors. So April we saw a little bit of flattish of flattish demand but we saw things turning around post 15th May and now when I look at the order book for June and typically we have our order books 15 to 30 days in advance uh I'm seeing that there is an uptick in demand uh and that's what makes me positive also historically we've seen a lot of things in the last 7 years whether it's covid or other wars around the globe and we've seen that domestic demand has especially in this period of festive season, wedding season has been quite resilient uh through many of these crisis that we've seen in the last 5, seven years. So that does make me feel confident and optimistic for sure.
Can >> you help us understand between cotton yarn and polyester yarn when you're talking about a demand which probably plummeted to some extent in the month of April, you've seen that recovery come back in the month of May. Where is the demand better? number one and two from a margin perspective which of the segments is uh you know where you are envisioning that the demand should come back sooner versus the other.
>> So typically uh in India the yarn consumption is 50/50. 50% of the yarns we consume as a country are cotton and 50% is polyester. Globally if you see the usage of man-made fibers polyester filament yarn specifically is much higher. It's a 7030 ratio. But as the prices are increasing, today cotton yarn prices are almost double of that of polyester yarn prices and that's when fiber replacement happens to a certain amount especially in blended fabrics which is largely what we all consume today. Today if you pick up a tag of any garment that you wear, it's a blend of multiple yarns and fibers that are used cotton and polyester being the main two.
So with uh with an increase in pricing a little bit of polyester consumption tends to improve because it's the uh the cheaper yarn compared to cotton and that's both the yarns are the key raw materials for any fabric.
So just shortly after the GST uh big change that took place right I went to Kohim Batur which as you know has a lot of textile activity and I was speaking to people and trying to understand whether that would change the way that yanza also consumed and the sense that I got was that you would see more polyester being consumed and an increase in the use of polyester in the blends because of the way that GST changed on polyester. Can you tell me if that is indeed taking place? Absolutely. Since the GST change last year, I think it was November, uh there has been an uptake in the polyester yarn consumption. Uh the way people are designing and constructing fabric has a further increase in polyester filament yarns.
And Alex, like I said, you know, globally that's this is already happening since many years and that's why the yarn consumption split is 70% polyester yarns and 30% cotton yarns globally. India we are seeing that happen uh now and the GST is only supporting that journey.
So uh you know my last question from my side to you is then with the spreads which have increased with the way prices are moving uh are you seeing a potential increase in fabric prices that could be in the offing and if so the reason I ask you is then the value chain uh is something that we will be talking to from a we vishal mega mart kalita kiran all of these will be consumers right for you then so are you expecting fiber prices to then go fabric prices I beg your pardon to go up >> fabric prices, yarn prices have already moved up. The pass through has happened.
So, fabric prices are also on its way up. Yes. Uh this will impact the final garment or apparel that is bought by the consumer at the retail outlet. But you know like Shah mentioned in the data point that he was sharing all that increase in yarn prices is per kg. But when you translate that into per piece, that's how you and me consume our clothes and our textiles, you know, per per piece of the shirt or the trouser or the dress that we buy. If you look at it per piece, the impact could be as much as 5 to 15 rupees per piece. Now, someone who's buying a 300 rupee t-shirt or a 700 rupees shirt, the 5 to 15 rupee kind of price increase won't deter him from making the purchase. That's the understanding I get from my final consumer which are these big retail brands.
So pleasure speaking with you. Sorry you were making a point. I was also adding one more point Alex that uh and to counter this price increase what uh what what my customers end up doing is the blend between cotton and polyester. They tweak a bit towards polyester. Exactly what you were touching upon because polyester currently is at half the per kg cost of cotton thus softening the impact to the end consumer further.
>> Understood. Interesting. Samir, thanks so much for taking the time and I'm sure that we'll speak soon enough once the results come through as well. All the best.
>> Thank you.
>> All right, let's uh head over to my colleague Somit Saran now for our regular feature on this program which is heard on the street. This is where he gets you the latest check from the dealing room. Somit interesting end to the monthly uh FNO series. What are you picking up on a post per stock basis though? Well, Hindalco and Nalco are a couple of aluminum names that dealers have highlighted in trade. There are buy flows on institutional desk. Both FI and DI investors have been accumulating this counter and dealers indicate that some aluminium capacity curb are expected to happen in China which would keep this prices stable or on the higher side and hence this buy flows are coming in for PTM. There are buy flows on the large H&I and PMS dares dealers are expecting some positive news flow here. Then couple a few names on result sides.
Simmons, PG Electroplast and GMR reports. There are cell flows on large H&I desk. Dealers are expecting weak Q4 numbers coming in from all the three names specifically PG Electroplast seems to be a big miss is what dealers have highlighted. And lastly, when it comes to NMDC, multiple dealing rooms are recommending buy calls to their clients based on charge. So keep an eye out for NMDC as well.
>> Got it. All right, Somit, thanks so much for that. Now uh one aspect of what we've been tracking over the course of the last couple of weeks has been the rupee and ultimately that has been reflecting the concern about the balance of payments about the fact that crude oil prices have been elevated. Of course they've dropped below that $100 per barrel mark but they've been volatile and so therefore what are the implications? We're joined today by Dhiraj Nim who's economist forex strategist at ANZ Research and Dhiraj believes and his team believe that there is the need or the likelihood of aggressive rate hikes by the Reserve Bank of India. Draj good afternoon to you and thanks so much for taking the time. A lot of people are anticipating at least 50 basis points of increases from this point. But from what I read, the expectation was the first hike would take place in December. I think you're calling for a rate hike in July. Why is that?
>> A minor correction. We are calling for a rate hike in the upcoming meeting in June. Oh, >> and we do not think the overall quantum of hikes will be very aggressive. At the moment we have about two hikes in our baseline forecast with the risks of more especially if oil prices stay elevated.
Now there are three reasons why I think you know the Reserve Bank of India should go for a rate hike uh in June itself. Uh one it will be very prudent to do a rate hike of a preemptive nature especially because future inflation is going to look elevated and sticky. In fact, if you go by the Reserve Bank of India's own stress case scenario from the April monetary policy, if oil prices were to average $95 a barrel in FY27, inflation could average 5% this fiscal year and 5.1% next fiscal year. We broadly concur with this kind of assessment, which basically means that inflation would be a persistent problem, not a transient problem, and a forward-looking monetary policy should take action. But the more important point here is that I think stabilizing the currency at the moment is very important and without a rate hike the signal will not be enough. While the government and the Reserve Bank of India have been doing defenses of the currency through the roots of typical FX interventions and several other measures. I think the friction is that financial markets believe that to adhere to a tight global capital constraint and elevated energy prices, economic policies need to realign themselves and I think without a rate hike that signal will not be strong enough and therefore will not be convincing for the financial markets. So you know corollary of that is if you do not deliver a rate action sooner rather than later it risks seeding ground to financial markets in terms of dictating domestic financial conditions. So the followup to that though Dhiraj is that as the uh the central bank in India is an inflation targeting central bank and has a target of 4% and a broad range in which it is comfortable to say plus or minus 2 percentage points from that. Does the uh does the letter of the law allow for a preemptive rate hike to deal with a situation that you're pointing out which is a currency issue and not a uh uh inflation related issue.
>> Well, the INR has already depreciated about 13%, you know, since it started depreciating somewhere in the last year.
Look, we are a net energy importing economy. We are a net importing economy overall. So a weaker rupee obviously is an inflationary risk. And at the current order of depreciation, actually a weaker rupee becomes endogenous to inflation's trajectory. So while right now we may not have an inflation problem at hand, we actually think that the by by the end of this year CPI inflation could cross 6% quite decisively. And I think therefore the absence of current inflation problem is not an absence of future inflation problem. and therefore the scope for a preemptive rate hike uh you know which which communicates this caution is actually very much there. Now coming to the uh you know the spirit of the law while of course the RBI has traditionally maintained you know a distinction between exchange rate management tools and inflation management tools. You know India's inflation targeting framework assumes exchange rate stability. It's as if it's embedded in that uh you know imperative.
But when the exchange rate itself is not stable and has become a future inflation risk, I think the distinction between the tools to manage exchange rate and inflation is not that tenable. So while we are not saying that the Reserve Bank of India has to hike 200 or 300 basis points to make Indian assets attractive from a yield perspective and therefore defend the exchange rate, we are saying moderate well-communicated rate hikes will actually go a long way in signaling to the financial markets that the gap between what should be and what is in terms of policym is narrowing.
>> Okay. Good afternoon Hal. I was just reading your report where you're talking about shifting the policy stance to become more hawkish as well. Now, if you have to look at the first quarter of 2026, uh the cyclical growth recovery that was visible was kind of robust. Right? Now, at what point in this entire cycle will the aggressive rate hikes begin to severely impair the projected growth rate that we have for 27?
Right. So I mean in the baseline like I mentioned before we have about 50 basis points of rate hikes in totality at the moment considering our inflation forecast and the usual error ban around it. I do not think that a 50 basis point rate hike in totality can really derail India's growth uh you know in FY27. In fact, our macro profile is that while we have nudged our inflation average to 5% which is about 40 to 50 basis points higher than where it was before the revision, we have brought down growth from 6.7 to 6.4%. Now let's forget a point estimate. Even if you think that growth in India could remain in the 6 to6 12% range even with oil prices around $100 a barrel in my opinion that's a very robust growth and I don't think it warrants undue concern in terms of growth that would make the Reserve Bank of of India to sit on the policy rate unchanged for a very very long time.
>> That's going to be interesting. In fact uh we will wait out and see what the RBI does in the next MPC which is slated uh in the month of June. Thank you so much for that uh note. interesting takeaways there but it's something which is slightly odd because the expectation is not there as of now whether if it happens I'm sure we will be happy to get Dhiraj once again on the channel to talk to us about it as to what next post that so thank you so much for joining in but two stocks AIA engineering let's just quickly pull up that one on the screens it's just reported numbers right now and if you see in terms of the stock price a surge coming in there 5% up move there has been other import uh uh income component of 132 odd crores. Uh your net profit has surged around 38% at 393 odd crores. If you see in terms of the revenues as well, uh growth of around 9 and a half%. You know, this is what is interesting. On a singledigit revenue growth, a smart profitability jump is what you're seeing. To add to this, let's see what the margin and the EIA is telling you. There you go. A 20% surge in terms of EITA EIA as well. And on the margins front, uh you have that number come in at 28.6% 6% versus a 26.1%.
So a good uptick coming in there. So operationally uh there is optimization that is happening as well because on a singledigit uh revenue surge you've seen a double-digit emitter growth and a double digit uh profitability growth as well and the margins have improved substantially on a EIA engineering. So that's a company we should be looking at. Uh you know a quick one in terms of the charts. Canal stock has surged a little over 5%. What would you advise investors to do on this one?
>> Kunal, you're on mute.
>> Sorry. Uh on the long-term charts as well, the stock looks uh good. Uh it has formed an inverted head and shoulder pattern and there is a neckline breakout that has happened in today's trading session. So I'm expecting this move to continue on the upside. Potentially this can go towards 4,350 4,400 on the upside.
>> Got it. All right. So that's view on AI engineering. Let's talk about Marico now and it has forayed into the hair cleansing segment with the launch of parachute advanced protein shampoo.
Everything's happening. That's interesting, isn't it? Mahima is joining in today.
>> Was that an ad?
>> Was it an ad?
>> After all about ads. Why?
>> Or after hook.
>> The hook. The hook is a new show. In case you missed it, catch it this weekend actually. We talk about uh the the hook behind all the messaging that brands have to give you. And I wonder what the advertisement for parachute advanced protein.
>> Wasn't this also a good hook?
>> Was it? It was. It was a good hook. I must admit it was a good hook. And it's even better because it wasn't planned.
Mahima joining in to talk about it.
Saturday 8:00 p.m. That's what my producer is telling me. Saturday 8:00 p.m. and Sunday 11 a.m. is what you should watch out for. The hook. You'll catch Aush and me break down a lot of the interesting trends in the world of marketing and advertising. Let's talk about parachute advanced protein shampoo. I'm saying that for the third and the last time I promise. Mahima joining in to tell you more about that.
Mahima.
>> Yeah. So um you know it's an interesting move because in Q4 management commentary they did indicate that you know they are moving towards premiumized category and this is the first move after that.
Right. So it's an interesting move coming in from Marico entering into the hair cleansing segment. Advanced patch advanced protein shampoo is what they're calling it. Um if you take a look at how the entire TAM is for the shampoo uh the market is over 10,000 plus CR right and with the advent of all of these modern trade that is quick commerce and e-commerce um you know this is tend to grow faster at a kagger of almost over 10%. Now in terms of what this means for Marico, shampoo is nearly you know two to three times larger than value added hair oil which is the uh you know main product of Marico right now. In terms of pricing if the pricing is done very well considering that this is a premiumized product for them it could support margins in the long term the blended margins. Um this reduces of course their dependence on the volatility of Copra prices. So we'll have to see as to how that pans and it allows Marico to build a full hair care system. You know they've been in the oil business for for the longest time the hair oil business and now this you know bringing into cleans the bringing cleanser also onto their entire product category is going to give them a full ecosystem. Now why this is the best move because if you've heard the commentary so far in Q3 and Q4 for FMCG companies it's the um hair care and personal care segment that has done very well for all FMCG companies and that's why it you know makes sense that Marico has announced it uh this quarter plus they've also said and you know this is the common commentary coming in from the management with regards to premium uh beauty and growing beauty as well as grooming is seeing good growth coming in in the last couple of quarters and could grow further going forward in FI27 as well. So this is the overall view of why this move has come and what this means for Marico.
>> Okay, thank you so much for that. Quick question on this beneath to you. How are you placing a Marico on the back of entering the shampoo segment? Because the question over here is the kind of competition that they're going to face.
I mean you have Hunasa consumer which is Mama Earth which is already there.
L'Oreal is there a lot of new age D2C brands which are coming up. uh Dabber, Himalaya, Proctor and Gamble, HL these are market leaders in the hair cleansing segment uh with you know Americas easily and what is that gestation period going to look like for the kind of investments that they're going to make because it's a 10,000 cr uh kind of a universe that you're talking about.
>> So you know I think Maro has got its uh plan well set for themselves. they've been into the business. They have disrupted markets earlier and they have a very strong uh brand building uh experience. So to my mind uh you know I don't think it will be a while there's going to be competition everywhere. I think the market is growing itself and they're going to find takers for their product because they do have a strong distribution network. Parachute is a very strong brand and uh with their ad spend there I they're definitely going to take market share away. So I think uh you know it will be a slightly of a long haul. You know four to five years is typically what it takes for these kind of products to break even. So but I definitely think that uh you know it will be a good foray to enter the market and increase their offering.
>> Okay. We'll wait. Watch out for what happens to this one. But thank you, man, so much for joining in. It's always a pleasure to get your views. We'll quickly slip it on into a short break.
On the other side, we'll get you the top buy today and sell tomorrow picks as well. A special link in terms of the Wahan data on Ola is slated and updates on the West Asia crisis. Please stay tuned.
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So the welcome back to India market close. Now Middle East war updates that have started to come in again from the Iranian state media reports. uh what they're saying is that the Qatar talks have been positive so far and they have led to some bit of a progress. In fact, the frozen assets that they're talking about is estimated at around $24 billion and Iran is insisting for release of 102 billion. I beg your pardon in terms of the frozen assets and this will be you know as soon as they are signing the MOU. Uh Alex, this is interesting. All right. I mean you're talking of some bit of progress that has been made.
>> Everyone on both sides are trying to put in their demands as well. So probably what crude is indicating what markets are indicating is telling you something.
>> Yeah, it is it is certainly is. I'm actually trying to find the latest rate for crude because it has been hovering very close to that $100 per barrel mark.
It's uh and what you're seeing on the screen effectively is July futures. uh the last that I can see with regard to June futures is 96.5. So it is very close to that $100 per barrel mark and the question is does it move lower from this point or if there is an escalation does it head higher because earlier today at the start of trade today you were worrying about uh the attack that US announced that it had made preemptive in certain pockets but that has not been met with uh response from Iran. We're joined on this leg by Dain Chy MD Dr. Choki finserve private limited as well as Vine Rajani CMT and senior technical and derivative analyst at HDFC securities. Gentlemen, thanks so much and welcome to the show D by just a sense from you on the setup right now.
We're looking at expiry and it was expected to be a volatile day of trade that has panned out but the broader narrative is what I'm trying to get from you. Is there more positivity as we sit at the end of May than there was at the beginning and what are you taking into the month of June?
>> Yes, Alex. Good afternoon. Well, I guess I think from the counter uh the institution players in particular, they are not participating as convincingly as they would have otherwise participated in given the kind of clarity which is emerging on the war front preceding uh as well as I think the withdrawal of the war symptoms all of those I think are not ming with I think the complete participation from institution players maybe one of the reason is that some of the good quality stocks haven't still done enough as as far as I think the prices are concerned and that's where majority of the portfolios are lying and probably I think that could be one of the reason for which no actions waiting for some better times to come for the prices to recover etc but on the other side uh and because of that I think the volume is also less on the counter but on the other side more importantly some of the fundamentally strong companies are actually seeing recovered on the prices from the earlier lows and that is a very positive sign. So though it may not be a sharp oneway recovery, I would think that I think gradual recovery in the marketplace is distinctly possible.
Uh particularly those companies which are into the commodity business I guess I think metric commodity in particular they are likely to see continued recovery even from here on whereas I think the commodity users are likely to have I think relatively more circumspect recovery going forward in a selective manner. So I think this is how I think we have bifocated to aspects. Other than these two I think the financials are definitely looking more stable and comfortable given the possibility of crude oil prices receding gradually and I think there no need for additional interest rate hike etc. So those are some of the positive things on financials. So we believe that I think that there is a contra happening on that front as well. So overall cautiously optimistic and selectively bullish about the individual stocks in the marketplace. Okay, that's interesting.
Thank you uh Dianai for that. In fact, Vel, let me come to you from a technical uh perspective. We know it's expiry. Uh I mean your VIX has cooled off slightly.
We've given up those 24,000 levels in inday trade. Uh if I have to look at the BTS calls for tomorrow, what would they look like?
>> Yeah, so definitely there are some stocks which are still showing strength and um we can see that metal sector is continually performing well and today some IT stocks are performing well. So considering the stock specific market we are considering one of the IT stocks Oracle Finance OFSS the code is so 9890 is the current market price one can go long for the trading I would suggest to stop loss at 9750 on the upside we can expect immediate target of 10,200 the second stock we like from the Adani group is the Adani uh energy solution adani nsol is the n code so which is placed around 1440 1445 so this stock can be bought with a stop loss of 415 and stop and immediate target that we see for Adani and so is around 1495. So these are the two stocks we like on the basis of technicals and they are likely to do well and BTS traders can also mint some money out of it.
>> All right, standard disclaimer of course NDV profit part of the NDTV group owned by AMG media network which in turn is owned by Adani Group. Let's shift focus now to NDTV profit spotlight on Ola Electric. You've been hearing since morning on this platform on this channel that uh the automotive sector in India is looking robust at least when demand is concerned as things stand right now.
But this seems to have surprised some people because Ola has actually been written off already by a few people.
Punit is joining in to tell you why that might have been a little premature.
Punit the vahan data is pointing to pretty solid numbers for Ola, isn't it?
Well, most certainly there's that revival that's playing out from the lows of quarter 4. Now, it's important how this month ends, how the quarter ends as well. But just putting the spotlight of what the company has been able to achieve in quarter 1. And looking at, you know, quarter 1 of FI27, the last row is what I want to focus on. So, 22,245 vehicles they sold in quarter 4. They've already surpassed that target in the first, you know, couple of months of quarter 1 of FI27. uh it also doesn't pale well to compare the other players uh because your numbers is quite different. Uh the base was very low for Ola Electric in that sense. But this also gives you a picture of how the other players have fared which have been two to three times for the likes of TVS Motors as well as Bajage Auto compared to Ola Electric. So there's still a lot more to do. But when you compare the market share of the company over the last three months and this is vahan data for the electric two-wheeler space you see that TVS continues to be at 26% across the last 3 months. But when you look at Ola electric down from almost 5% it has managed to claw some market share back at the 9% mark. You also see a percentage point reduction for both Bajage auto as well as for Ather energy that might have benefited Ola Electric.
Hero Motorc surprisingly though has continued to maintain that 10 to 11% mark. So now it gets very interesting for FI27 how the market share slips because you've seen the overall market grow in the electric two-heer space. But these five players continue to dominate 86 to 90% of the overall market. So how the split ends will be something to watch as well, especially since the top three players are now adding capacity meaningfully in FI27. I also just want to focus on what you have to watch as well because the EV boom could continue given the the the current geopolitical crisis and the focus on electric vehicles. Market share dynamics are also changing as well amongst players as I mentioned as the industry grows and new launches as well as capacity additions are something to watch as well. For Ola specifically, they've guided for a 40 to 45,000 vehicles sales in quarter 1 as guidance postquarter 4 results. So they still have to go the way from 23,000 all the way up to 45,000 next month or so which is a steep target for the company.
So you have to watch out for that. And in terms of views, you saw that cut for brokerages like Bank of America who cut the target price to 35 post corn call.
Very importantly what they said was that this rebound in electric actually coincides with a broader growth in the EV industry. So watch out and take it with a pinch of salt this growth given the patchy record of the company you will want to see if this story plays out for the whole year and not just as a phase as well. So hence that is some of the key views. This is of course from city as well where they are looking at sustainability and currently no brokerage has a buy call two hold calls and six sells call with a return potential of not too great number as well. So the recovery is good for electric but there's still a lot to watch out for given the horrors of the last year as well.
>> Jury's out. Jury's out. Thanks so much Punit for that. Ether energy by the way is doing particularly well in trade. But let's talk about earnings and Marxen's farmer if I'm not mistaken is still trading with double digit gains and this is on the back. Oh it's Oh well there you go. It is trading with gains of 17%.
Uh we've got Vasha joining in to tell you why what worked for Marxen Farmer in the fourth quarter. Basha >> historic triple Alex I would say highest revenue highest AITA and PAT you know guidance of Rs 3,000 cr has been met when it comes to FY26 growth was driven by new product launches and of across market in Australia branded portfolio also performed well and other income also aided profit for the company now you know talking about US business because over here if you see there was a growth of around 24% for the full year uh revenue scaled 2.4 four times from 22 to 26. US contributes almost 52% to the total revenue. Talking about UK and Europe, well, overall Q4 recovery was driven by launches and better order flow. Price erosion stabilizing Q4 and which contributes you know 34% to the overall revenue. So overall a great set of numbers when it comes to this counter US of course being the growth lever for the company.
>> Okay. So that's with regards to Marxins.
Thank you so much for that. you know uh uh in fact uh the stock is at the day's highest levels they by coming to you with all the kind of earnings that we've seen in terms of today's session we've already spoken about a marxen swarm uh we spoke about container corp there is tech electric AB fashion RVNL polymedicure all of them have actually flopped in trade today uh anything that you would want to actually talk about in terms of earnings specifically in the broader markets right now >> so Lindi broader market the overall conviction I think has emerged stronger actually with some of the banks and large NBFCs which are consumerf facing businesses they are actually I think they have reported significantly better numbers on the efficiency that is recovery front and PSI of the activity at the same time I think the credit growth for some of them using the fintech in the front has been I think very very smart so I believe that I think this is one simple key recommend that one can take that if the interest rate is not going to go up in hurry then possibly I think some of these valuations are looking quite attractive from taking a right on the investment of position basis as well so that is one second thing we have also seen uh some of the midter companies reporting very convincing numbers and they have basically suggested that they're having a strong order pipeline for execution uh largely because of the fact that their OEMs are in the process of I think relating large orders on some of the companies. So frankly I think we like setting such kind of proposition in the midair segment as well apart from the companies which are into the power power utility segment including the one which is energy which came up last year last yesterday rather. I think that is where again I think we saw relatively better numbers. So yes I think selective good companies and the performance is definitely being experienced currently in the market.
>> Interesting. All right. So, Hitachi Energy as well moving from the low point of the day to trade with gains of about 1.2% 1.1%. Ver from the stocks that we mentioned quite a few quite a few have actually taken a knock today whether it's RVNL or Polymedicure or Techno Electric all of them are bearing the brunt of selling. Uh on the flip side though there are few that are working and we pointed out uh the latest Marxins Pharma. What stands out to you in the broader market that you would buy right now on the back of earnings?
Yeah. So stock like Maxon Farmer today it is up by more than 17% with a significant jump in volumes and we can see that it is headed towards the next resistance of 270 which happens to be the June to 2025 swing high. So that is the next resistance for the stock and that is likely to outperform. So one should remain with the trend the stock which are reacting positively and rising with the volume. So one can give priority and reference to those stocks rather than looking for stocks like Arina which are clear into a downtrend. So I like max farmer and I think it can extend the uh rise from here also.
>> Yeah. So a few stocks from the broader markets that are doing well. Adani Total Gas now trading with gains of 8%.
Maharashtra scooters not a stock that you see jump every day is gaining about 7.3% in trade today. AFCON is doing well up 7% and the networks as well gaining 6%. Campus active wear on the back of earnings is up as much as 6%. So V from that list of stocks that I've talking about talked about that are buzzing in trade and that are gaining quite a few of them on account of earnings which of them would you buy?
>> I would give a preference to the Adani group stocks as I already suggested Adani Ensol and another one you just talked about is the Adani total gas that has also broken out on the long-term chart and medium-term chart. So above 712 there is a breakout and the stock is headed towards the next target of 750.
So I like 80glan total gas on the charts and one can do and earn money in the trading as well. So today's low becomes a strong support around 660 and immediate resistance for the stock is at 750.
>> Note gentlemen uh Din Vay thanks so much for taking the time. Pleasure speaking with you as always. Next time we'll spend a little more time talking to you I think. But uh as we're winding down to the uh FNO series expiry not too bad.
you you'll take >> I mean in terms of at least from where we started off in a market closed there's not been that kind of volatility what enthuses me is just pull up the wicks you know I thought that probably it'll be elevated taking the way uh because it's expired and the way markets were panning out but we've actually cooled off we're coming to comfortable levels now 151 16 usually is taken as a comfortable zone where that cautiousness stance kind of gets erased away so probably this is also telling you something that people are finding comfort as well in terms of where markets go and as Alex is pointing out we've not broken that 23,900 mark we hit that 24,000 mark intraday trade have come off but levels seeming to be slightly comfortable and likewise bank nifty let's just pull up that one on the screen you have come up from the day's highest levels on bank nifty as well if you just pull up the inday chart uh you know that will tell you the story 210 of a percent lower it's the private banks which is seeing pressure it tried to make that attempt to see that kind of recovery but not has not really come through Alex and I think it's going to be the heat map which will tell you what's what we're looking at.
>> Yeah, let's pull up the heat map for the nifty50 as just pointed out. Adani Enterprises in fact the entire cohort of Adani Group stocks buzzing for a second day in a row. Adani Enterprises now moving up on the back of yesterday is 4 plus% gain as well. Tata Motors PV and the rest of the automotive pack also up and about. Bajage Auto gaining ground.
Eternal, Nestle, Tech Mahindra, a few other stocks there. The entire metal pack both hindalo and JSW steel up and about in trade but what's not working and there are quite a few of them whipro as well as a polar hospitals barta enterprises cooling off just a tad bit one and a half% lower trent TCS paj finance not too much in the way of a theme but I would like to pull up the broader markets and we're closing off right now just another few seconds for the for the market >> this is very interesting see the recovery that your midcap index has made half a percent up move it's it's not gone to the highs, but a good recovery.
>> That is exactly what I wanted to highlight. So, the midcap index gaining about half a percent, the small cap index, pull that up because it's saw a a larger slide. Remember the small cap index, but even that towards the end of trade, you're seeing a little bit of a comeback. I wonder her if this has to do with that news piece that we saw towards the end of the session where you talked about Iranian state media that said that the the the talks in Qatar were positive. anything on that geopolitical front that points to the potential end to the war >> of a MOU of a deal end to the war straight of hormones being opening up I think that's the cues that the markets are taking and it is expiry day as well it's monthly expiry so you are going to see these kind of girrations that could be coming in but overall I think an interesting day of trade there is little bit of affirmation coming in uh you know in terms of what the Wix is indicating that that cautious stance somewhere is moving away Again, it's only in terms of today's trading session. How how we open up and trade tomorrow is anyone's guess, >> especially because there's a midweek market holiday to watch out for on Thursday. But we're down to the last few seconds of India market close from Hil, myself, and the team that put this show together. Thank you so much for watching and stay tuned. This is NDTV Profit.
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This is where the trends get tested and stocks get conviction. I'll recommend a buy call on a stock only when I'm fully convinced on the stock with a table by Good evening. You're watching Market Express with me Shrianti Singh and this is the show that gets you a lowdown of everything that has happened in today's trading session and news and updates from within the country as well as across the globe. But first things first, let's talk about the markets first things first because profit booking in fact returned to the last street as benchmark indices lost momentum with the Nifty slipping below the 24,000 mark and the Sensex also fall falling over 400 points amid cautious global cues and rising market and sectoral trends remain mixed with throughout the session in fact with metals and energy stocks leading the gains while realy and PSU banking counters face pressure amid selective profit booking and marksman's farmer that was one counter that was buzzing away in trade as you can see on your screens as well about a 15 and a half% uptick coming in on this particular counter it's delivered a record-breaking quarter with revenue aida and profit all hitting historic highs the company also met its 3,000 cr rupee revenue guidance for FY26 with growth also being driven by new product launches across key markets and the ramp up in its Australia branded RX portfolio further supported performance while other income added to profitability on the numbers front revenue rose 20.8% the one that surged about 54% net profit jumped 63 and a2% thereabout also with margins expanding to 22.8% 8%. So overall you're looking at a strong quarter coming in led by product momentum and improving operative leverage.
Let's also talk about campus activeware that has closed the quarter on a very very strong note coming in driven by robust demand in its core sort of sneaker segment. Also revenue growth was led by distribution expansion and strong traction in the sneaker segment with the portfolio also delivering over 100% growth on a year-on-year basis. better product mix and scale benefits really help drive margin expansion while traction in women's and kids categories really continue to improve. Let's talk about realization trends as well because they remain quite supportive aided by ongoing frameization across the portfolio. However, however, you do have the management that flagged inflationary pressures in raw materials largely coming on the back of geopolitical risk.
So something that could really weigh on margins going forward as well.
Let's also move on and talk about KSH International. That's in focus on the back of a strong quarter coming in.
Solid execution and robust demand is something that you're looking at and that's across segments. The company in fact also saw sharp growth when you talk about the volumes and revenue supported by export traction and improving momentum. Management remains confident with capacity expansion firmly on track.
So they're targeting a very great capacity expansion by FI27 to really capitalize on rise in demand, overall execution strength and a stable demand environment continue to drive growth.
Onto Pace Digit that has delivered a strong set of numbers in the fourth quarter with executionled growth driving a sharp improvement in performance and the stock as well as you can see on your screens 5 and a half% uptick coming in on the back of a decent fine print. Now let's talk about exactly this earnings fine print as well. The revenues jumped over 60% on a year-on-year basis.
Margins have expanded significantly and the profit has also surged close to 90% reflecting strong operating leverage.
The company has continued to build solid momentum when it comes the to the energy storage space with best auto visibility also now crossing 5 gawatt and you know when you talk about robust order book you're looking at somewhere close to 11,000 crores there as well providing strong multi-year revenue visibility so overall strong execution is what you're looking at growing order pipeline that's something that's keeping the growth trajectory for me intact as well let's also talk about office space that is showing strong momentum backed by solid operational execution. The company has also reported its highest ever quarterly revenue aida and profitability reflecting scale benefits in the business. Growth is clearly being driven by the co-working segment which continues to see strong demand trends.
Expansion remains a key focus as well with 41 new centers that you're looking at. 30,000 seats added in FY26 strengthening its network footprint as well. And let's talk about occupancy levels because even they have remained healthy signaling sustained demand and positioning the company well for continued growth.
Let's talk about Concor's quarterly performance as well reflecting a little bit of a mixed trend coming in. So you do have external trade driving growth while domestic remains under pressure.
Exim continues to be the key growth engine also and this is even as overall revenue for FI26 crossed the 9,000 cr rupee milestone as well. On the operational front, you're looking at margin seeing a slight bit of compression. While the profit declined on a year-on-year basis in domestic softer demand is something that you saw coming in. That said, the company's balance sheet remains strong with the net worth above 12,500 cr rupees and robust cash flow generation. So overall, the focus really remains on leveraging exim while navigating near-term weakness when it comes to the domestic segment.
Let's also move on and talk about Poly Medicare. that's in focus on the back of the fourth quarter, reflecting strong revenue growth with rising cost pressures that are weighing on profitability. So, the revenues grown about 21% on a year-on-year basis driven by continued demand momentum. However, margins came under pressure declining sharply due to higher employee costs and some of the other expenses as well. So, when you talk about profitability though, that was further impacted by increased interest costs pulling down net profit significantly on a yearly basis. EITA margins fell to around 20% as well highlighting the impact really of low cost headwinds despite topline strength overall while growth remains intact margin pressures and higher finance costs are key concerns going forward.
Let's also talk about Hitachi Energy and even that stock just like the last one is in focus on the back of delivering a strong quarter on the flip side with performance beating expectations on most key metrics. Revenue growth remained robust coming in well ahead of estimates reflecting strong execution and demand traction while gross margins saw a little bit of pressure coming in and that's due to a lower export mix.
Operating performance remain solid though despite all of this both EIDA and profit saw sharp beat coming in with margins expanding meaningfully driven by operating leverage. So a lower tax rate and higher other income is also something that we're looking at that also supported the bottom line a little bit helping drive strong profit growth and even when you take a look at the counter as well ended with gains of about 1%.
Let's talk about Arani Green Energy that has commissioned a massive 3.37 gawatth battery energy storage system in Gujarat marking one of the world's largest single location battery deployments outside China. project in fact significantly strengthens the company's renewable energy ambitions and highlights the growing role of battery storage in ensuring reliable clean energy supply as India rapidly scales up green infrastructure let's also talk about engineering that has delivered a strong set of numbers in the fourth quarter when you talk about this particular counter about a 6 and a half% uptake as you're seeing on your screens as well and when you talk about the earnings fine printing that's quite interesting because the topline growth and sharp improve Improvement and profitability really supported this particular counter. Even when you talk about the revenue, it's risen about 19% on a year-on-year basis driven by steady demand across segments. Operating performance also remained strong with Aida rising over 38%. Margins also expanding to close to 11.6% 6% reflecting operating leverage and the standout in fact was a bottom line low because the net profit that's significantly surged to somewhere close to 70 cr rupes marking a sharp recovery when it comes to the earnings momentum.
So overall strong execution and margin expansion has really driven this particular counter.
Let's move on and talk about Techno Electric, an engineering company on the flip side that reported healthy revenue growth for the quarter supported by steady execution across its power and infrastructure business. However, higher other expenses and elevated depreciation costs really weigh on overall profitability as well as on that stock as well with the 12% down coming in highlighting some of those margin pressures really even as the company continues expanding operational capabilities and investing for future growth opportunities.
Let's also move on and talk about RBNL that reported a weak March quarter performance as the sharp margin press really reflected through even on the stock with that 4 and a half% down lower other income is something that you saw weighing very heavily on the profitability the numbers really reflect ongoing stress and execution profitability even as investors continue watching order and flows that remain quite healthy project momentum across the world in terms of the broader railway infrastructure sector as Moving on then let's talk about Marico that is expanding deeper into hair care with the launch of Parachute advanced protein shampoo marking its entry into India's fast growing shampoo market. The move in fact is helping the company diversify beyond hair oils and reduce some of the dependence really coming in on volatile coke prices and build a broader premium personal care portfolio. And this is at a time when beauty and grooming categories are seeing stronger consumer demand versus staples.
Let's also talk about tai sales in terms of the fourth quarter reflecting a mixed trend coming in. So you do have on one side muted topline growth with a sharp improvement in profitability as well.
Revenue growth. Let's talk about that as well because it remained quite modest at just over 5%. Management also flagging a little bit of that consumption slowdown during the late January to February period and operationally you do have margin seeing a little bit of a dip due to higher advertising and employee cost.
However, the standout here as well was the bottom line with net profit more than doubling on a year-on-year basis reflecting improved operating efficiencies and the company's also continued expansion adding around 24,000 ft of retail space during the fourth quarter as well and overall while demand softness weighed on growth profitability trends remain strong.
Let's also talk about reports saying the third wave coffee is looking to raise around $100 million from investors including a bunch of investors like West Brbridge as well in a move that could boost valuation and fuel aggressive expansion plans and that's an interesting story that you're looking at when it comes to this particular coffee chain.
Let's also move on and talk about business news. Now, Ferrari has unveiled its first fully electric car, Beloo, marking a major shift for the iconic supercar brand. The futuristic 5-seater combines Ferrari's performance legacy with an all electric platform developed over 5 years of the luxury auto industry really navigates growing EV demand and rising competition coming in from global rivals.
Let's move on onto macros. Now the European Central Bank is expected to revise its inflation and growth forecast as escalating tensions in the Middle East continue clouding the global economic outlook. In fact, ECB chief economist has warned that the Iran conflict is worsening macroeconomic conditions right now with some of your rising energy risks and uncertainty adding fresh pressure when it comes to policy makers and even financial markets.
Onto national news now. India and the United States have signed a major critical minerals framework agreement aimed at securing supplies for advanced technology, clean energy and defense manufacturing. The move is coming in amid rising global concerns over China's dominance in rare earth and strategic winds using semiconductors, electric vehicles and military systems.
Moving on then let's talk about the coordinations that have unveiled a fresh set of Indo-Pacific initiatives focused on maritime surveillance energy security and critical minerals underscoring the groupings growing strategic alignment when it comes to rising regional tensions in fact when you talk about the meeting in the national capital the foreign ministers of India the US Australia and Japan also push for stronger port infrastructure and maritime domain awareness and that's across the Pacific signaling a broader effort to deepen regional resilience and supply chain security.
Let's move on and talk about Tamil Nadu because the chief minister Vijay has in fact announced a fresh crop loan waiver package aimed at reducing death stress among small and marginal farmers while also allowing five screenings a day when it comes to newly released Tamil films during their first peak. The government in fact says that the waiver scheme will offer meaningful financial relief to cooperative banks. Though some farmers in in fact the farmer groups are arguing that the move falls short of broader promises that were made earlier on complete farm loan wavers.
Let's also move on and talk about the central bureau of investigation that has formally taken over the investigation into the death of Prisha Sharma who was found hanging at her marital home in Bopal earlier this month. A special CBI team has collected evidence and documents from the Madhya Pradesh police while the Supreme Court is assured that the probe will remain fair independent and impartial asini impact around this particular case is intensifying right now.
Let's also move on and talk about Manipur CM who's flagged off 447 newly inducted police vehicles in a major push to strengthen law enforcement and emergency response capabilities as well across the state. The move is coming in amid continuing tensions in Manipur's hill regions with the government aiming to improve police mobility infrastructure and even operational readiness in some of the sensitive districts as well.
Let's move on and talk about Delhi witnessing one of its hottest nights in more than a decade as temperatures refused to cool even after sunset adding to the city's intense heat rate conditions. In fact, the mercury crossed 43° during the day while unusually high night temperatures left residents struggling for relief. Weather officials have now warned of possible dust storms, strong winds and light rain later in the evening as well. And this is as unstable weather conditions really build across the national capital.
The center is telling Delhi High Court it won't foribly take over 113year-old Jim Khana club on June 5th assures due legal process. Court also records statement grants interim relief to its members there as well.
Let's move on and talk about some international news. Now, the tensions in the Middle East have escalated yet again after the US carried out test strikes near Iran's Bandurabas region, targeting missile sites and mine lane boats in what Washington called a self-defense operation. Hours later, President Trump in fact warned Thran to immediately hand over or destroy its enriched uranium stockpile under international supervision, raising fresh concerns over the fragile ceasefire and ongoing nuclear negotiations as well.
Let's move on and talk about the word coming in from US President Trump who's demanded that Iran immediately hand over destroy its enriched uranium stockpile as part of ongoing negotiations. Trump is saying that material could be either a transport to the United States for destruction or eliminated under international supervision inside Iran.
The remarks are coming in as tensions remain heightened despite continued diplomatic efforts between Washington and Iran.
Moving on then, let's also talk about Marco Rubio saying that negotiations with Iran could take several days, several more days in fact, cooling expectations of an immediate breakthrough coming in despite ongoing diplomatic engagement in the region. The comments are coming in after fresh US military strikes in the southern Iran region and continued tensions around the state of keeping geopolitical risks and energy market uncertainty firmly elevated.
Moving on then, North Korea has fired multiple projectiles, including a suspected ballistic missile into the Yellow Sea. According to South Korean authorities, the launch comes amid heightened tensions on the Korean Peninsula and fresh concerns over some of those weapons programs as well. In fact, South Korea is saying that it is closely monitoring this particular situation along with its allies. Moving on then, Singapore's top envoys traveling to North Korea in a rare high level diplomatic visit signaling renewed engagement when it comes to North Korea as well. And the visit is coming in amid shifting geopolitical dynamics in the region and growing efforts to maintain diplomatic communication channels.
Details of the discussions have not yet been officially disclosed though.
and aviation authorities have issued fresh precautionary guidelines for airlines operating from Uganda and Congo amid concerns over Ebola cases in the region. The advisory focuses on health screening, reporting protocols and onboard safety measures aimed at preventing crossber transmission.
Airlines and even airport operators have been asked to remain on high alert.
Meanwhile, Mexico has agreed to host Iran's World Cup squad ahead of 2026 FIFA World Cup as tensions between the United States and Iran continue to simmer. The Iranian team is expected to base itself in Tijuana after concerns over visas and security in the US.
Despite the shift, Iran's group stage matches are still scheduled to be played in the United States.
And with that, it's a wrap on this edition of Market Express. Thank you so much for tuning in.
Hi, I'm Tamana. Watch me on NDTV Profit where I break down the day's biggest business stories. What happened, why it matters, and what it means for your money.
>> Hi, I'm Nidat Sha. Watch me on NDTV Profit for the most incisive market intelligence and meaningful corporate conversations.
And I'm Alex Matthew. Markets, mutual funds, insurance, personal finance. I help you cut through the noise and make smarter financial choices. And here's where you can watch us.
When the headlines move fast, perspective matters.
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Dal Street witnesses intense profit booking after benchmarks uh catapulted over a percent on Monday. Banking stocks uh pressure Nifty below 24,000 levels.
Volatility remains subdued as broader markets outperform today. Rupee weakens but stays far away from record lows.
Oil rebounds as peace talks face fresh military disruption. Crude jumps nearly 4% today after Iran vows retaliation after US military strikes. Brent crude hovering near $100 a barrel.
Hope fades for peace talks as US launches new strikes on Iran targeting missile sites and boats. Reports suggest Iran's deputy secretary chiefs visit uh Russia for talks in a written message. A Mustapa Kamini says that region will no longer serve as shields for US bases.
India US signed critical minerals pack to strengthen supply chains amid China export curves and uh also SJ shanker and Marco Rubio outline new initiatives on Indo-Pacific surveillance supply chains and energy security. Government has ruled out any blanket extension for implementing ALMM list two norms on solar PV cells beyond June 1st, signaling a tougher push towards domestic sourcing and tighter compliance on India's fast growing renewable energy sector.
After fuel price increase, CNG price hiked again. Delhi CG prices cross uh 83 rupees per kg and this is the fourth hike in the last 11 days.
Sebi chair hints at the need for India's corporate bond market to grow much bigger like the stock market seeks investors to understand risks and better use the existing systems.
North India baking under intense heat wave with temperatures soaring above 45° C in several regions including the national capital New Delhi. IMD issues red alert for heat wave for the next 3 to 4 days.
Hello and welcome. You've tuned into Profit 360. I'm Nisha Podar and let's take you through all the key developments of the day today in the next half an hour. First, let's begin with the equity markets and markets swung into the red as profit booking in the banking cohort really dragged down the benchmark indices today. Nifty heavy weights like HDFC Bank and ICSA Bank were amongst the heaviest contributors to the losses as volatility really remained low and broader markets they continued to outperform the frontline indices today. In fact, in terms of sectors, metals, energy and the defense uh sectors saw some bit of buying today.
For a more detailed summary of the market action, here's my colleague part joining in with the full roundup. part.
>> So Nifty ends in red closing below the 24,000 mark down by over 0.4% today.
This was led by Apollo Hospitals and Bharti AEL both of which were the top losers in Nifty down by over 1.5% today.
The broader markets have however outperformed the benchmark today with Nifty Midcap 150 ending in green up by over 0.4% led by Adani Total Gas which gained over 8% and Exide Industries which was up by over 6% today. Nifty small cap 250 has ended in green up by over 0.2% led by AFCON's infrastructure and Maharashtra scooters both of which were up by over 7% today. All the Nifty indexes have ended on a mixed note with Nifty Metal being the best performing sector today up by over 1% led by Adani Enterprises and Vedanta both of which gained over 3.5% today. On the other side, Nifty Financial Services was the worst performing sector down by 0.5% uh led by RECC and Chola Investment, both of which lost over 1% today. Uh moving on to sectoral trends, we saw Nifty Financial Services snap its 2-day gaining streak while Nifty PSU Bank snap snapped its 5-day gaining streak. Nifty Bank has also snapped its uh 2-day gaining streak while Nifty Auto has gained for the sixth day in a row. Nifty IT and Nifty Energy have gained for the second consecutive day as well while Nifty FMCG snapped its six-day losing streak. Also, Nifty Metal has gained for the fifth consecutive day.
>> All right, so that was a roundup of the market action today. Thanks part for getting us the full update. Now, let's also get you a view on the markets and Indian markets may not see massive rallies anytime soon. That's the view really coming in from Helas Capitals Dinani. He told NDTV profit that the 12 to 13% annual market move is actually quite reasonable in the current environment. Reason well according to him the global market conditions are still weak and India was already facing economic headwinds even before the war related tensions really began. He also said that the foreign investors inflows will depend heavily on corporate earnings growth as well as importantly the stability of the rupee. Take a look.
>> The stability of the rupee should be a big mover. Uh obviously the second one which we've always been saying is that India probably the only country which has been taxing foreign flows in terms of capital gains and all. No other country does that. uh I think if something is done on that parliament uh on the long-term capital gains because FBI when they come they don't come for the short term they remain for a longer term you may not see big money coming the big money can come in only when uh things start sring on the AI front which I don't expect to happen in the near term because given that anthropic and open AI and even for that matter SpaceX which has got AI as a big component of its uh uh growth sur if this NFOS I mean IPOs rather don't happen in a hurry then you'll see good news coming from that front and that keeps driving the prices up per se >> all right so that's the view on the Indian markets but uh meanwhile also remember that the oil prices are swinging sharply as the markets really react to the fastch changing situation between the US and Iran now prices in initially really fell after reports suggesting there is progress in talks to really reopen the straight of hormos.
But Trump's mixed messaging on Iran has really quickly brought the volatility back into the market when we talk about the oil market despite staying below $100 a barrel. Well, Brent in fact rose 3% due to the um ambiguity around the negotiations. If you really take a look at the rupee movement also which has a lot to do with how the crude behaves well the currency lost some sheen after sharp gains over the last two sessions as it weakened by2% against the dollar but it however remains more than 100 pes or one rupee over the recent record low of 96.96 so keep a watch on rupee. All right. The United States has launched fresh strikes in southern Iran targeting the missile sites and also boats allegedly preparing to lay naval mines. Uh and US Central Command described this particular action as self-defense aimed at protecting its troops from the threats by the Iranian forces. In response, well, Iran's Revolutionary Guard claims it shot down a US drone and also engaged another drone and a fighter jet in its airspace.
Meanwhile, Iran's Supreme Leader Mustapa Kamini has really issued a sharp warning saying that the US will no longer find safe haven in the region and Gulf nations will not act as shields for American bases. But Hormus remains the sticking point. Now I'm listening to what did the US Secretary of State Marco Rubio had to say.
>> Well, the streets have to be open. Uh they're going to be open one way or the other. So they need to be open. What's happening there is unlawful. It's illegal. It's unsustainable to the world. It's unacceptable. Um I don't know of any country in the world that does.
The Russians are not in favor of a tolling system. The Chinese are not in favor of a tolling system. I mean there's no country in the world that's in favor of a tolling system except with the regime in Iran. So that's not acceptable. That need that cannot happen. The straits need to be open unimpeded.
>> And the US Iran negotiations they pick pace Iran foreign minister Abbasi in Qatar for talks resing uranium to be transferred to China while Trump signals progress in the talks.
Meanwhile, remember oil prices fall over 5% amidst hopes of a US Iran deal. So that and then uh the crude prices really picked up after there was no headway immediately. Now moving on then the card foreign minister's meeting in New Delhi saw India um the US, Japan and Australia unveil a major push on energy security in fact critical minerals uh and also maritime cooperation amid the straight of hormones crisis is what is being talked about. External affairs minister SJ Shanka said that the four nations agreed on an Indo-Pacific maritime surveillance initiative and a common operating picture to boost the real-time maritime uh coordination along with also remember cooperation on port infrastructure undersea cables and a pilot port project in Fiji. In fact, US Secretary of State Marco Rubio said that the Quad must evolve into a partnership of action, highlighting that the 60% of global trade passes through the Indopacific uh region. Now, Rubio also announced a $20 billion quadr critical minerals initiative aimed at strengthening the supply chains across mining, processing and recycling. Now, Australian foreign minister also flagged uh the rising economic volatility and energy security risks from the straight of horm crisis while Japan's uh uh ministers also raised concerns over critical mineral export also the restrictions and stressed the need for stability in the Middle East. Now the Quad also remember finalized a critical minerals framework and launched a new Indo-Pacific um energy security initiative. Let's listen into the remarks coming in by the external affairs minister SJ Shankar and United States Secretary of State Marco Rubio on this big development.
>> A free and open Indo-Pacific has many dimensions and facets. Our meeting today took stock of the progress in many of them while encouraging exploration in others. In the coming days, whether it is economic activity, energy trade or maritime commerce, the Indo-Pacific will become even more important to the world.
The responsibilities of the Quad will grow commensurately and we must prepare for that.
uh that we'll have some deliverables on today is the issue of critical minerals.
We'll announce the the quadcritical minerals framework which will guide each of us uh to leverage economic policy tools and coordinate investment to strengthen critical mineral supply chains including in mining and processing and in critical minerals recycling. Uh finally on energy and fuel security uh we'll be announcing the quad initiative on Indo-Pacific energy security that will help uh strengthen regional energy resilience and and through this initiative uh the partnersh identify areas of cooperation in technology in management and policy and international market analysis and emergency response exercises. Uh we we want uh we we'll be releasing a standalone statement on this initiative and the department of energy from the United States will be hosting quad partners later this year for a fuel security forum to further expand on this >> in more crossber developments. Well, India and Canada have really stepped up their push to revive the economic ties with commerce minister push go leading the largest ever Indian business delegation to Canada amid the fasttracked uh SEPA talks. Now during this high level meetings in Otawa, Canadian Prime Minister Mark Carney called the proposed India Canada free trade deal a gamecher with both the sides really preferring and also reaffirming their commitment to conclude a balanced separ.
Now commerce minister also held talks with Canada's trade, agriculture and foreign ministers. The two commerce uh ministers as well as the two countries are really targeting to expand bilateral trade from the current 8.5 billion to about $50 billion by the year 2030 with over 100 Indian companies really participating in the business delegation. So a big big deal and agreement and of trade really coming in with Canada. Now let's move on to an exclusive then in an exclusive development. Well, seven empowered group of secretaries are set to meet the PMO today to review the impact of the West Asia crisis. Remember that seven groups were formed in March on Prime Minister Modi's direction to monitor the West Asia fallout. In fact, the top officials will present assessments on the supply disruptions, inflationary pressures and logistic stress with groups really handling oil, shipping, agriculture, food, economy and foreign affairs expected to brief the prime minister's office on all these developments.
All right. Uh to another important development coming in from the auto space. Well, Maruti Suzuki has aligned with the prime minister's call for austerity, mandating work from home wherever possible and cutting down travel. For more on this um I'm joined by my colleague Danish Anand who's getting in all the details from this.
Danish how will this work and Marauti is one of the biggest uh players uh in the market one of the biggest companies and industry stalwarts which is really taking the lead of rising up to Prime Minister Modi's call for work from home.
>> Well that's correct. Matu Suzuki is India's largest car maker in terms of market share and even in terms of volumes. But if you look at this announcement that has come from Maruti, it is completely aligned with what PM Darendra Modi spoke about a few weeks back in which he gave a clarin call to the entire country that we must conserve energy, we must save fuel and it is coming on those lines. Uh and we are seeing that the work from home mandate has been brought back at Matthew Suzuki.
This is only for the corporate roles and similar to what which we saw during the covid time as well. And now the company has tweaked its work from home policy.
It has clearly told its employees that whenever it is necessary then only you must visit the office. Besides that, a major uh decision that has been taken by the Maruti management is on curbing international travel and they have cleared it to their employees until and unless it is not very essential and important for the business until then don't go for international travel.
Similarly, the domestic travel has also been curbed. Uh they are also promoting you know virtual meetings and besides that the employees have also been told to promote car pooling and they've also been asked to use public transport wherever possible. So these measures that have been taken by Matthew Suzuki uh will not only help the company to you know to save a lot of money on their employees but at the same time it is also clearly aligned with what PM Modi talked about a few weeks back and if Maruti is doing this and then there then we can really expect the other players from the industry to also follow pack because ultimately this is not about conserving money or saving money it is all about you know conserving the energy uh security for the entire nation right for a right cause. Thank you so much Danish for getting us all those developments. Moving on then, Sebi is preparing a major reform push to deepen India's corporate bond market and also reduce the country's dependence on traditional bank lending. Now the regulator plans to introduce a separate framework for bond brokers to really lower the costs and improve participation in the debt market. My colleague Nimit Digshedit is here to take us through all these uh details on what's really brewing in this space.
Tell us Nimit.
>> Yes. So the SEBI chairperson while admitting that the bond market in India has not grown uh as they expected it to announced a slew of different measures that they're now working on to expand this market. Now the key things here are they're looking to increase access, incre increase liquidity, reduce compliance and then uh by nature of that increase participation in this. Now how they're looking to do it like you already said the a new regulation or a separate regulation for bond market brokers is in the works. This will likely have niche uh disclosure requirements where they don't need to then comply with other LODR requirements that they have to today and also increase participation of brokers reduce entry barriers to that effect. The second and very interesting thing that they're working on right now, they're piloting a tokenization program. Now, tokenization here will allow for smoother and more transparent transactional value and easier settlements, right, which is already done by the NSE and the BSC for capital markets. It's going to extend uh and they're working on those pilots. They're of course and the SEBI chairman was very careful in saying that uh we're going to make sure that the regulatory safeguards for this sort of technology and that's why it's taking time but they are definitely working on tokenization here to bring it up with global standards.
Apart from this u he importantly pointed out that the market making framework that both the RBI Finnman and the Sebi are working on together should be out later this year. This of course will be a separate market creation platform where corporate bonds can be traded. He acknowledged that today uh the rating of corporate bonds only the very very high rated ones are 80 to 5 to 90% of them are those those are issued. So they need to increase access to a lot more people.
Brokers need to go to lower rated bonds as well. They're going to make those safer and easily accessible to retail investors as well. uh he also very uh pointedly said that less than 1% of households invest in corporate bonds is something is something that he's looking to change effectively through these regulations.
>> All right, expanding and making the debt market and the bond market much more robust. Thanks so much Nimit for all the details and in response to NV Profit's question on merchant bankers really making demands for funding flexibility in the bond market. will sebi chief twin kapande also said that the frameworks are already in place and we asked him this question on the sidelines of uh the career edge ratings debt market summit listen in >> they've been asking you for more funding flexibility especially rating loans on the back of their bonds is that something you're considering >> I think the merchant bankers already have a we have already given a framework under which you know if they are doing our regulated work they can do that they can do other regulated work same is true with rating agencies too so we do have a framework where we have the regulated when they are regulated doing regulated products by sebi they are putting that and when they are being they are handling the regulated products of other regulators that they can also the only thing disclosures are important >> all right The Ministry of Renewable Energy really announced that there will be no blanket extension of the deadline for applicability of approved list of models and also manufacturers list two for solar PV cells beyond 1st of June.
What is the issue and how will it really impact the companies? My colleague Vasha is right here to explain. Vasha, tell us.
So this simply means that the solar projects will now use domestically approved solar cells. That means government will only consider relief on a case-by case basis for stranded projects. Now why industry wanted this?
You know so developers feared shortage of domestic solar cells and there were concerns over higher cost and project delays and many projects had already ordered imported modules before deadline. uh but now some of I mean but now government wants that the solar projects will only now be using domestically approved solar cells. Now what's the government stand over here?
So India wants to accelerate domestic solar manufacturing and this focus remains on you know reducing dependence on imported solar cells. Now how this going to impact on Indian listed companies? Of course positive for domestic solar manufacturers. Demand visibility improves for Indian solar cell makers. Higher utilization is expected for upcoming manufacturing capacities and pricing power you know may improve due to tighter domestic supply. Who will be the key beneficiaries? Of course you have all the cells and modules companies mostly which are into you know cells. You have Premier Energies, you have websol energy, you have warrior energies, MV, Vikram, Satwic. All these players will be benefited. But there will be a negative impact also on solar developers because the project execution cost now may rise. Margin pressure possible on old low bid projects and risk of commissioning delays will also remain.
Companies to watch which will have a negative impact. Of course, you have NTPC, GSW energy, acme solar, KPI, green energy. So all in all a benefit to solar module or solar cell players but a negative for the you know developers or the EPC players per se. All right, thanks Vasha for breaking it down for us. Now let's take it straight to the telecom space. And according to sources, Airtel has responded to the DOT panel over net neutrality concerns around its priority uh post-paid offering, maintaining that the service remains fully compliant with the norms. The telco says that it does not block, throttle or prioritize any apps or content. My colleague Risha Batnagar shares all the details. Tell us Risha.
>> Absolutely. So you have a very important submission that came in from uh not just Airel but also geode. So you have two largest operators telecom operators in India and both of them have backed the fact that these 5G slicing is not against net neutrality and it does not violate any of those principles. So you have those submissions that have been made to the uh department of telecommunications panel today. Uh very importantly uh AEL has said that its new priority postpaid offering it does not violate any of these net neutrality norms. It says that the service does not block or throttle any of the existing services. Uh it also continues to maintain that prepaid and non-priority users they will still have about 60% spare network. So it's not like there will be uh worse service offered to someone in le of better service to several other customers. So ETEL in that submission making that very clear. Jio has also now we have the receipt of that submission as well. They've also said that network slicing is a globally accepted telecom technology. It's not just uh happening in India. They are backing what airl has been doing. What they've also said is that telecom operators are using this for enterprise as well as premium connectivity services. So both of uh so reliance really backing in that sense. What we're seeing is that there there's also no discriminatory internet treatment involved in such services. That's what Jio has said. So you have Jio backing in what was supposed to be a lot of scrutiny that was going under with the priority postpaid services that they had planned.
>> Trish, this is an important uh you know bit of information and these checks and balances also required. With that, out of time on this edition of Profit 360, but do keep it with any TV profit. Thank you so much for tuning in.
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When others are warming up and raring to go 9300300300 Hello and welcome to KYC. I am Shhat Dubet and you are watching EdTV Profit.
This is the show where we get you interesting companies, small cap, midcaps and evenmemes and interestingly some hidden gems also. But let's try to understand which is the company today which is in focus. But before that you already know this company a very interesting character. It's in founded in 2000 by Dr. Dvi Prasad Shetty. I'm sure you must be understanding by know which company I'm talking about. It's a Bengaluru based hospital chain and recently the numbers also came out and the numbers were strong. Q4 numbers very strong markets rewarded it also. And let's see the stock. It has been a multibagger. If you're holding it for the last 5 years stock but which is the stock I have already given you the biggest hint. Let's try to figure out the stock and the stock in focus is Naran Help Nar Naran Hudal to be precise this is the company which we talk about but why are we calling this company the numbers were very strong that's the first reason we are calling this company the question is how's the FI27 looking like is it better than what the FI26 numbers were and we know this hospital theme has gained a lot of traction and maybe that's why the valuations are sustaining and premium be you business outlook we'll talk on that and also other important questions are there which need to be answered the expected growth on the average revenue per patient lot of operational parameter numbers had come in the fourth quarter and we had seen a good improvement let's move to the green field on the brown field capex hospital expansion and whenever a hospital does expansion the return ratios are in pressure we'll try to talk about the capex you know what's the progress looking like is there any spillover from FYI26 which might go in FY27 and the surgical mix change revenue categories. We'll try to simplify that for you and importantly apart from these questions we'll also try to understand the entire growth perspectives and to understand more we'll be joined by the management as Sandy J. She's the group CFO at Nan Health as well. But let's move on and understand what this company actually does. I'm sure you must have got the feeler. It's Oliver present.
It's a panindia company. This was founded in 2000 by Dr. Dvi Prasad Shetty. The headquarter is in Bengaluru.
It's a leading healthcare service provider. Let's get into more details.
This much though you know. Yeah.
Operating chain of multispeciality tertiary healthcare units. There are a lot of sectors also. I'll try to break that revenue for you as well. But let's move ahead. They have a network of 55 healthcare facilities in India as well.
And if you look at global there is presence in Cayman Islands and United Kingdom as well. So there is that story playing out almost 5,900 operational beds and the cap city is 6200 beds. So up the expansion B that is how these companies grow. They have cardiac science, medicine, GI sciences a bit technical. I'll try to simplify it for you. There are other segments also like oncology, renal science, neuroscience and orthobetic. In S segments may is hospital chain d FY30 they are targeting the bed capacity of almost 7600.
Right now it's around 6,200. So you can expect you know 15 to 20% increase in capacity addition. Owned hospital that is where the main number is 73% of that is an owned hotel uh hospitals. And if you look at it, 25% comes for the operated hospital segment. This is the business mix I'm talking about. But let's also talk about the overall Q4 numbers. How they were the profitability was before the adjustment. There was some adjustment. It stood at roughly aida jump of 40% on a year-on-year basis. Also looking at the India business that they have seen the highest revenue and the profitability for this quarter. Apart from this also we see Naran one health that's like you could say a digital angle to it. They have strengthened their integrated healthcare delivery model as well and of course they're trying to expand into new offerings also expansion or capex strategy about important green field it's around FI27 projected of 460 odd cr rupees and the replacement cost or you could say the repairing that it's like a working capital to be honest and that's around 270 odd cr rupes. So this is very much important when you track a hospital theme stock. But what's working for the company? Company strong Q4 operational numbers. I saw the financial numbers also. It's pretty decent. A a little bit of one-time adjustments were there because of acquisitions coming in. All the geographies are performing well. So this is working for the company. Also let's talk about the integration. That's very much important. I mentioned that these integrations are also slowly coming in.
Let's go ahead. What may not work concern then the return ratios might be under pressure. That's what I'm going to give you those ROC numbers. But for that you need to wait a bit. No major change in DII ownership. It's largely been you know lack of institutional participation. But whatever was there earlier it is still somewhat same and the execution risk definitely be there especially on the delay front in case if it's happening because you are having your own uh you know hospitals more so these are the key reasons where nan hudal might you know not be a good bet but of course positives are actually more than the negatives but let's try to understand more we'll do it quantification wise and for cause of that we have the KYC ratings where we judge a company roughly Eight parameters are there where we'll be judging this.
Of course, income statement, balance sheet, cash flow is very much important, but return ratios we'll get in the ROC numbers to get the hospitals, you know, how to actually value them. And speaking of value, we're going to get a large hospital, some mediumsiz hospitals which are in size with Naran Health and also the shareholding, street trade and of course is the analyst committee bullish on the stock or not. So important eight important KYC ratings and one by one we'll start. The first one is income statement. Let's talk about it. Income statement. What's there? Largely we see the income statement is pretty much decent. Revenue topline growth the 20% CGR for a hospital stock is pretty much decent. Aida numbers of course the PAT numbers they keep on you know moving around because it takes time gestation period payback period.
Let's talk about how the margin trajectory has been a little bit of pressure coming in but they have maintained it 20% plus so no major complaints coming in and I'll explain you on the return ratios front as well and the India business if you look at it that has been the largest contributor we had mentioned it other hospitals in revenue going up almost 13% on a year-on-year basis and also the Aida numbers are something which you'll be watching out for they have delivered their highest ever quarterly revenue and profitability as well. So important takeaway is coming in especially on the domestic demand front and I'll just give you a big mega trend also that the hospital theme has just started for India going ahead also higher contribution coming in from the high value procedures oncology or nai segments and the technology and transformation initiative is something where the bullishness is coming in. So this is the income statement you know coming in and of course these are the new growth drivers especially UK that's where they have contributed 809 cr and that number has also gone up to almost 1,300 cr rupees and business has completed two quarters post this acquisition so those acquisition benefits are coming in earlier I had mentioned you and this is something which you'll be watching out for so income statement it's largely a strong thumbs up and u these are the operational numbers also which have done well impatient outpatient as well. Let's talk about balance sheet to financial or operational parameters company. Let's talk about balance sheet and largely for these bigger companies you know borrowings are also manageable.
Of course they are expanding that's why you're seeing the higher borrowings coming in but the way the balance sheet management is there it's quite professional and there I don't see much of you know an impact see the cash numbers also that's around 2200 cr rupees over here this is the number I'm talking about so largely it is balanced let's give it a neutral rating as well so we spoke about income statement we spoke about balance sheet let's talk about cash flow what's happening here largely there's a decent set of cash flows here and you see the up move which has come in you know FI25 the integration happened and some spillover did happen that's why we are seeing these numbers on the lower side 10% has largely been stable promoter stake has been stable and even the it's a neutral rating but let's talk about street grid how much money has been made look at the other perspective right now from the20 25 highs, the stock is still down 18%. So then look at the other perspective. Right now from the 2025 highs, the stock is still down 18%.
So there from one year it's largely flattish. But if you're holding the company for the last 5 years, congratulations for this segment. Let's talk about valuations. You know, I've taken a larger company like Apollo Hospitals also. I've taken mid mid-term, you know, segments also of hospitals and even, you know, small caps also. Largely mid midterm, you know, segments also of hospitals and even, you know, small caps also. Largely, Naran Health trades at 34 times its 12 month forward P. But look at that and compare it with the larger players. Apollo is at 66 times. These two are also expensive. that I'm talking about of course Maidanta as well and of course sorry it was Kims for this valuation so definitely the valuations are on the cheaper side for Naran Health also so I'm going to give this a strong thumbs up because it's attractive to maybe enter the stock that's what the analysts are talking about but speaking of analysts let's see how bullish are they totally the analysts are 15 of them almost you could say 87% of them have a buy rating and nobody has a hold rating and out of which I think two which translates to 13% of the analysts have a sell rating. So majority of the analyst committee is bullish on this stock and of course looking at the numbers target price 2034 from current levels it's roughly 10 to 12% or maybe 8% return potential. There is a minor runup. So definitely we'll be watching out for but the analysts are not giving a very big target price here but nevertheless they are bullish on it.
So it's a strong thumbs up coming in for the analyst rating. So let's revise the all the ratings which we have gathered in for Naran Health in KYC today.
Revision income statement and cash flow has been really strong. So I've given a thumbs up. The concern is if you are expanding your return ratios will be you know kind of getting compressed. So that's what we have seen here.
Shareholding street let's see what has happened here. It's largely neutral but one thing which I have liked is the valuations. they are quite attractive or outlook analyst views then you see that largely the 87% of the analyst tracking the stock have a buy rating so final rating for Naran health let's get that on screen it's 5.5 out of eight it's largely in line with what the average numbers we give in KYC so it's a pretty interesting conversation but to take this conversation ahead we'll be joined in by the management uh Sanda will be joining us she's the group CFO of this company and interesting tidbits about her two decades of experience in FMCG tech global business services and remember she has leadership roles also and a chartered accountant and all India rank as well so pretty strong you know you could say her overall experience and then she'll explain us more about Narayan health and its future prospects as well now we are joined in by Sanda J she's the group CFO of Narayan health good Afternoon sya ma'am it's always a pleasure to have you with us at NDTV profit a strong set of numbers coming in the fourth quarter and of course we are now looking at the numbers for FY27 how's the growth outlook looking like >> hi thank you for having me here um if you look at our performance you can break it down into the three geographies in which we are present in India uh we have done uh quite well both in terms of revenue which has come organically without any capacity addition. Uh and in terms of margin, margin expansion has been substantial largely coming on the back of all that we've always spoken about operating efficiency, leverage, higher value procedures, better throughput. Um as far as Cayman is concerned, we have added capacity last year. So we've seen 27% revenue growth because of the capacity also increase in volumes and with that we've been able to uh pull caven back up to the uh earlier margin profiles on the hospital segment.
C insurance has also done substantially well in the first year of operations itself we have uh uh push pulled revenue to almost 14 million and that's a substantial number for that geography.
It of course is as is in every long gestation business like insurance coming at a dilutive profile uh in the margin side and it will take us some time to pull that back into a break even and therefore after that build on that. Uh the third piece which has come in for us is the UK business which we acquired in November of uh FI26 and uh the UK business has come in at a stable revenue profile dilute of margin profiles as it is in that market as well as stable cash flow cash flow profile.
So all of this put together we have seen a very significant growth in our revenue and a very balanced performance in terms of our margins >> and sya ma'am apart from the domestic business where we have seen a good performance your outlook on the UK business as well interesting operational uh update coming in here as well.
So our UK business uh is uh um very strong in terms of as well as uh cost of delivery.
the 93% of our payers uh in the UK are from NHS which so we have not publicly put those numbers and also if you look at the market we are still understanding the business and we still settling down so it's too early to uh set those uh targets for us the way we are looking at it the when you signed and on the margin side pretty much interesting view Satya to understand what's the strategy going ahead as far as uh India business is concerned we have announced six new projects either they Our green business is concerned, we have announced six new projects. Either they are green, they are built to suit in nature, which means that somebody else has purchased the land, but they bu they built to suit in nature, which means that somebody else has purchased the land, but they're bu projects are going live in FI28 and FI29. We have already committed three projects are going live in FI28 and FI29. We have already committed three that we are targeting. We are looking at more opportunities that are available in the market along the similar lines. Our current priority for growth and expansion has been our core market the entire spectrum of care. That's the plan for India. As far as the plan for Cayman and the entire spectrum of care that's the plan for India as far as the plans for Cayman and UK are concerned.
As far as Cayman is concerned, we have largely saturated in terms of our capacity and invest are concerned. As far as Cayman is concerned, we have largely saturated in terms of our capacity and invest last year and completed. And you can see the benefits of those expansion coming into our last year and completed and you can see the benefits of those expansion coming into our PLN. UK is still very early stages and as we progress through this business we can share more information.
>> That's pretty interesting. uh sya g and talking about the surgical mix you know how things are changing in terms of revenue you know of course of sector specific also you can talk about it and make it a bit simplified.
So uh if you would see uh our profile of the um growth which has come in with the investment in clinic we are able to work through through the entire care spectrum and therefore we are also able to capture the share of spend which is going into primary care but more importantly we are able to provide end toend care. Having said that these initiatives are not significantly material to change the uh surgical mix uh for us the part that where we are seeing a significant improvement in terms of our surgical mix is our higher value procedures. We are doing currently the largest robotic cardiac surgeries in India. We are doing the largest number of bone marrow transplants for pediatric in India as well as the pediatric cardiac surgeries in India and we are also significantly expanding our robotic program across both uh on oncology as well as benign uh uh cases. So all of these are enabling us to sign >> that's pretty much interesting there s but launch or is there any new product line which you're looking at or is there something existing which is new and you're trying to make it more big.
So integrated care itself has several nuanced product lines that we are continuously coming up with like we had launched our uh diabetic and weight management program on integrated care which is delivering uh good results for our customers. On the insurance side we are experimenting with many products especially targeting the missing middle uh that is that people who do not have access to insurance today who cannot afford traditional insurance. So we will be coming up with uh offerings in that space.
Well, uh thank you very much SA ma'am for taking out your time and giving your views on both
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