Successful stock investment requires balancing emotional attachment with rational analysis, as demonstrated through expert discussions on gold investment where experts suggest that while gold holds significant emotional value, investors should consider incentives like zero capital gains tax for 3-4 months to encourage selling, and should evaluate stocks based on fundamentals, technical indicators, and market conditions rather than emotional decisions.
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70 crores. So, so can can I with God's grace and everyone's support get to 3,000 cr number 2,500 cr number which we can directly catalyze my belief is very high with supports like support like the channel like yourself can the Abhan become larger right uh I was debating on another channel the anchor says that huge emotional attachment with gold there's also a huge emotional attachment with the country uh now we have to strike the right card >> okay tell me one thing I mean in terms of the emotional attachment with gold as well. Fio, the question is for someone to go ahead and sell gold right now. Are they getting anything which probably could be a carrot on the stick to go ahead and sell it right now? Because that is something that will probably help someone get detached from the emotion to some extent.
Uh you know I I I I'm sure you understand the emotion to jewelry or anything with gold much better being being a lady. Uh I understand that there is something some incentives can catalyze this drive but right I personally believe that uh we have to do the start and then can there be a catalyst? Of course the government can say 3 4 months of capital gains on gold is zero. If they did that people queue up to sell uh in my judgment but I think for the country incentives at least in our company we operate like everything doesn't need inset something needs a cause right if we can bring our currency to 85 of course RBI can do its bit to make it from 97 to 96 in the morning by doing $5 billion swaps and RBI can do a lot of stuff and it is trying its best if if 100 cr people join at least the 10 cr 15 cr owners join it would be very easy and then we can again do foreign holidays. So coming back to your question uh I think that uh it is possible and uh the emotion incentives should be second step and I hope with your channel I'm sure someday the ministry will see and say let me say okay these guys have done their bit now let me let me motivate them uh probably can happen 3 months from now but I assure you now that you're giving me air time and giving me so much attention on the subject which I'm very very uh passionate about that I assure you that I will confirm confirmed to you with receipts that I will sell. I will try my best with >> one last question. One last question on this aspect is uh you know do you think something can be done in terms of uh not accumulating gold through mutual funds or ETFs where a directive can be put into place so that there could probably be a freeze in terms of accumulation on from that side of it.
I think see people hate me to say that right but I think uh we should we should we should if we can stop accepting monies in international funds >> correct >> ideally it can be considered now comes the question is it mathematically right see I'm not making why you look at today we have AI everybody says AI AI AI use 10year rolling return of gold is 4.1% from 1970 Okay. Uh 10 year return average growing return is 4.1. I add 4% of dollar depreciation or dollar appreciation rupee depreciation 8.5%. 10 year I think the odds of gold doing more than 9 10%.
Is near near impossibility. So if there are gives 8 and a half% yeah tax I'm not getting you to sell something at lows.
I'm getting you to sell something at highs and I'm getting you to sell something which on a 10-year basis has not been able to get to double digit.
That's reality. Has there been one instance? There has been one instance where percent compounded and dollar. I agree.
But opportunity cost for that 2 3% 5% chance that you you miss out a certain portion of the rally. It's okay is what I think most people are responding and I'm getting support in actuals not on internet.
>> Fros, you're appealing to the public to India right now to do something like this. Uh your focus you said is not the,000 rupee SIPs but you're appealing to the,000 rupee SIPs right now to come and do something for the country. Why not come up with a scheme from Anandrati itself saying that okay this is what we have for you as a scheme and let's do something together because your appeal is to that 1,000 rupee SIP but your product is not driven towards them.
>> No no see 1,000 rupee SIP was in a different context let me clarify but I'll do any anandrati scheme if you can propose something. Okay. Now uh I was saying that I am not interested in virality otherwise nor am I looking at some clients coming to me otherwise people used to laugh at me saying that sirros you are in private banking you're going to shows which recommend SIPs of 1,000 rupees. How will they that ever help your company? So I said that's not what I can do. I can't manage a,000 rupee SIP guys. Why precisely I'm going in the evening doing personal finance shows. Uh that's what it was. So coming back to your point if there is a scheme which can be proposed can I put some money on the table if I have projected 485 crores of Pratt as a listed company this year can I put something on the table to catalyze this cost for sure but will >> you know I think I think the suggestion foss the suggestion I would have is okay sell your gold to whatever extent you're proposing and we will make sure or at least get you into a scheme or you know whatever you propose in terms of structure where that will give you equal or more amount of returns in the future.
Why not propose something like that?
>> Okay, that's what you meant. Okay, let me let me apply some mind. Guaranteed returns in my business are uh >> I'm not saying guaranteed returns. I'm not saying guaranteed returns but something which is similar where you know that at least that capital will stay protected probably move at what gold is moving in at that pace.
>> Great. Great. I think you've you've directed great thoughtprovoking idea because there are structure products which can be designed around gold or any other index with capital protection.
Superb uh thought process. I'm very grateful actually truly grateful because I can I can look at uh uh some some products which don't give guaranteed return but gives you some degree of capital uh uh protection. U let me apply mind on that. But I'm so grateful that you're thinking on those lines so that we can actually like we my my boss Mr. CEO coins this word generally. So it says quote.
Okay. So so basically if we invoke an emotion stronger than the emotion which we have with gold we may be able to get there getting 1 2% monetization. 2% monetiz agree thought very noble execution expected to come in now if people follow your path and hoping you know fo is actually probably putting a structure together where people can actually go to Anandati to understand how they can probably get out of gold get into any other structured product but hoping to see some progress there. Thank you so much Vio for putting out this thought process across and looking forward to many conversations as well in the future.
Thank you. But so that was Fero Aziz but completely out of time uh ladies and gentlemen on this edition of India market open. Lots more lined up on the other side ask profit next with Mahima and Pit. Please stay tuned.
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Hello and welcome. You're watching Ask Profit here at NT Prophet. I'm Mahimarani. With me is Puni Zeri. And since it's Thursday, we have Kush Bora with us in studio today. So lots of queries are going to come for you specifically Kush today. Um and you know before we start taking your questions that by the way you can ask us on the numbers that are flashing on your screen up there. Uh let's take a quick look as to how the markets are doing. I think Kush will agree to the fact that we've been talking about this 23700 resistance levels. We've crossed that at least for now. So we'll be watching out first as to how the day ends up by about 0.5%.
Let's try to pull up the nifty50 heat map and see as to what counters are pulling Nifty up right now. Grassim topping that chart up 4.5 5%. I think Bila Opus is the one that's going to uh you know keep uh running Graasim's business going forward because gaining of market share is something that they've gone ahead and said and that's why you know we seeing that 4.5% gain coming in on this one. Intergrove aviation also um you know one of the top gainers up 3%. Uh BE today seeing uh some buying action up 2% after the profit booking that we saw yesterday.
Polo Hospital is also al also on the back of numbers up 2%. Adani Enterprises, Max Health, Bajage Auto some of the other names that are doing fairly well but largely there's more green on the screen and it's good to see that. On the flip side you have Bajage Finance, Nestle, Titan uh some pressure coming in on these counters by about.5 to 6 odd percent. Let's try to pull up the bank nifty as well. The bank nifty also gaining uh by about 6 odd percent hovering around the 53800 levels now almost trying to touch the 53900 levels.
Uh let's try to see the sectoral heat map as well to see as to what sectors are looking like at this hour and you have defense topping that chart up 1.9%.
Followed by realy energy as well as metals doing fairly well. It's only the IT which is down by about.3 or percent.
Uh so only that is the counter where we seeing a tad bit of pressure. Let's try to pull up the advanced decline ratio uh and see as to what that is looking like because yesterday in just the last couple of minutes we saw tides turn for the advanced decline ratio. We ended almost even Stevens yesterday but today it's purely purely in the favor of the buyers right now punit as we speak because you've got around 2,000 odd advances versus that of 500 odd declines. So 3 is to1 healthy ratio is what we're seeing there. Most certainly and while uh you know the growth actually in terms of what we've seen today uh largely for the benchmark has been quite positive. It's a day of broader markets as well. So pull up the mid midcaps the small caps and then we'll just quickly highlight the individual names as well before we start taking your stock related queries.
Midcaps up 0.5% the small cap index is up 1% now and the BSC 500 also shows you some of the results. It's a day where there's been a clear winners and losers.
So while Saman capital uh the result is eye popping to say the least you know uh write offs all the way through and the cleaning of the books happen stocks up 10% on the back of that commentary uh apart from that also you've seen PNC infraric also results weren't the greatest I think the commentary that people are liking stocks up 5.6% 6% Metro brands also a similar picture we had the management today on the flip side though jubilant foodworks is down Bosch is down after the con call though corn call was at 9:30 some key comments coming in there as well with the streets not liking gervar techch pi industries continues it down tick uh just pull up a few movers sangi movers is the first one I just want to quickly highlight because that is up 13% I think the last I checked on the back of results as well and uh and that momentum is maintained throughout pull-up and Ola electric results won the greatest commentary while will support the near-term aspect.
Stocks down 4% on this uh news flow as well. Uh the other one that you know I want to quickly highlight is Jubilant Foodworks and I think we pulled that up in the BSC 500 also that was down I think around 7% right now and you know Mima this was a quarter where it you know QSRs have been under pressure but that's reflected in for numbers for Jubilant as well. So I think it's it's uh the the other way right because you've seen Westlife doing well. You see barbecq nation turned out very well yesterday locked in upper circuit yesterday as compared to that jubilant has not performed very well on the back of a high base as well. But I think the commentary was important. They've said that there could be near-term in terms near-term pressure in terms of margins plus they could take price hikes going forward and that's why the cautious approach is something that the street is not liking. Plus the like for like growth was almost flat this quarter which has not been the case for the last four quarters at least for Jubilant Foodwork. So I think that's something that's putting pressure on the counter as well. But let's start taking uh you know all your stock related queries. Um the first one that we have is from Ashwin who's asking about shipping corporation of India. He's bought it at the levels of 217 and 50 shares is what he's already holding. Wants to know whether to sell or hold for the next 3 months. Kush uh your view on the charts for this one. He's sitting on mild profits around 5,000 rupees.
>> Yeah. So first up a very good morning.
Uh the profit in terms of the amount you could call it mild but I think these are very handsome gains you know in terms of percentage. So fantastic because quantities >> absolutely fantastic uh buy I would say.
Uh so right now the entire space is doing well just just to throw in a couple of names you know G shipping something that we've discussed on the channel also Shri G shipping some of these stocks have been doing well. I think you should continue holding on to this uh because you are making a handsome profit. I think you know a prudent strategy would be the trailing stop-loss strategy like I usually suggest. So keep your stop losses around the 310 305 mark. If it dips below that then this rally could fizzle out but up until then I think you should continue to hold on the way up targets of about 355 and 370 plus very likely.
>> Got that view kosh and you know let before we take another query let me welcome in China Mukadam the independent market expert on the fundamental side of things. China. We'll just come to you and take a quick question first. And this a caller dialing in from Chennai and you know a viewer Shakar I hope I'm pronouncing your name correctly is joining us right now. Shankar pardon me Shankar go ahead. What's your query?
>> Uh good morning sir.
>> Good morning sir.
>> I lly to get Kushbara is there.
>> I'm very happy because earlier two times I asked this uh qu to Kushwara only.
>> Okay. Uh I bought uh 10 shares of uh Power India.
>> Okay.
>> At the average price of 19,200.
Still I hold.
>> Okay.
>> Uh I want to know about it. Uh future uh price raise. I think it will fly to like MRF.
>> And when did you when did you buy this uh Shankr? Because you know 19,200 on stock. That's a 36,000 is definitely very commendable. Did you buy this at the start of uh start of the year?
>> First I bought first I bought November 2025 shares at the rate of 22,200.
>> Then I bought five shares January end of 2026 I bought 96,200. So my average price is settled at 19,200.
>> At that time I asked this question to Mora. Uh it's a good company wait >> it's also chance to fly to the time of time he commented >> well Shank got it Shankar well thanks so much firstly for dialing in again on on the day that Kush is in the studio as well but Kush you know for you know the last 6 months have been stupendous for this chart so would you recommend Shanka to continue holding uh at this counter >> so first up Shanka thank you so much for that query. You're awesome, right? I'm glad that you know the discussions that we've had on this talk in the past helped you. So, it it it really uh brings a smile on my face, you know, when something like this happens. So, really happy for you. Uh what I would suggest is that yes, you can continue holding on to Hitachi Energy Power India even from these levels. I think there is an upside to be had. My only hitch is that there is some overheating that is creeping in uh the stock. So, you know, there could be some possibility of a profit booking that could come about.
But because the momentum is strong, the volumes are also very healthy even now after having this kind of a runup. My suggestion would be you should continue holding on to this but keep a trailing stop loss near the 32,000 and the 33,000 zone. If the stock were to dip to that level, in fact, if you see, you know, in the last 5 sessions, the stock has actually rebounded from those levels, right? So, if it were to dip again to those levels, I think you're better off booking it partially at least. So, hold right now. If it goes to 32,000 33,000 zone again, book partially and then hold the rest of the quantity. take some money off the table if it dips.
>> Okay. All right. So that's the view coming in on Hitachi Energy. The next one that we have is on Apollo Hospitals.
Civa from Toronto says that at what price can he enter into something like an Apollo hospitals from a long-term perspective of 5 years. Sha the stock of course is buzzing today on the back of Q4 numbers but your view on Apollo hospitals and probably a price point at which he can enter for a 5 years. Yeah.
So the numbers of Apollo hospitals are quite decent. Uh they are showing a decent growth both in terms of profitability as well as revenues. But yes, having said that, I think the diagnostic business also doing well.
Having said that, I think it has started becoming looking a bit expensive. So if I want to add to make decent money, I would buy it somewhere close to about 7,300 7,500 type of levels. So buy it at dips.
Uh not today.
>> Got that view. China. But next question coming in now it's on CDSL and Jedi from Mumbai and we've been getting a lot of questions on CDSL the whole capital market theme as well. So we're trying to take as many as possible. Jedi bought it at 1482 Kush. He's holding on to you know these shares and he's asking if he should continue to do that invest further either in CDSL or NSDL.
No. So uh this is this is slightly tricky in the sense that you know the stock is obviously below the buying price. the structure is not looking as exciting. uh I have maintained that you know you have to start getting very picky in the in the capital market space BSE MCX uh you know even the AMC names zone those are the pockets where you want to be CDSL has gone through uh you know selling for uh some time now it is looking at a support near the 1200 mark 1150 zone you know maybe it can hold on to that maybe not I wouldn't really buy more but I would for sure have a stop loss at the 1150 mark if that is broken I would exit and I really don't see any major triggers for it to you know rally too high from here. So if it does and it comes close to your buy price, you're better off exiting there. Right now, keep a stop loss at 1150.
>> Okay. All right. So that's the view coming on CDSL. But time to take a look at the FNO space and we have Shah joining by to give us a perspective as to um how the setup is looking like.
Shah, there is expiry of course. Uh but overall I think the screen is looking decent today.
>> Well, yes, a little bit of a good reversal is also at play, but how much will it sustain? That's the big question to be asked. But yes, a sea of green coming in. Interglobe Aviation and BL just have a look at that they are doing really well in trade. Tata steel also seeing a good momentum but what's not working no major kind of you know stress a little bit of profit booking after almost 3 days of good moves coming in the IT space that's what we have tech Mahindra Infosys and also a little bit of Bajage Finance in the red as well but uh stock specific moves still is something which we are focusing on a long buildup happening after a long time HDFC bank is coming onto the screen this is up but it's not very convincing but nevertheless it is moving especially the bankx Hyundai Motors also that's up almost 3 odd percent as well. Apart from this uh let's look at the short covering and we have Saman capital. Of course the numbers were on the stronger side. So we'll try to understand more from the management as well and angel one we talking about the capital market theme.
So this stock has again picked up we saw that move last this Monday also. Apart from this looking at the long unwinding there are some divergent trends happening no major trade to be made here. A little bit of profit booking from mankind pharma also. And if you look at the overall short build up that is where we see the sell-off is intensifying especially for Jubilant Food Works on the back of earnings the stock is down 7%. And Bosch also after the conc call no major you know positive news coming in that's why the street is concerned about this counter as well. So stock specific moves are happening in the FNO space.
>> Okay Shara thank you so much uh for giving us those details with regards to where the FNO setup goes but I think Ravi is waiting by who is calling us from Hyderabad. Ravi a very good morning to you. What's your query about?
>> Yeah, very good morning. Uh I have a query on GVnova TN and India.
>> Okay.
>> Currently I'm holding 18 shares bought at 317.
>> Okay.
>> Just want to know shall I book profits and enter into some other count or shall I stay?
>> Uh Ravi did you see the charts while buying this counter?
>> Yeah.
>> Okay. All right. Then I take this up with Kush. Kush your view on this one.
He's sitting on profits of around 21 29,000 rupees. What should he do? Should he book out?
>> Handsome gains. There is momentum. And this has been a call by the way in this space, you know, on the channel as well that I've reiterated a couple of times already. Uh it's already seen a round of profit booking and now rebounding. So, it's not a bad idea to continue to hold.
The profit booking dip that was supposed to come about has already come about, right? So, you might as well hold on to this one. Uh it has already, you know, attempted to take out the recent swing highs that it made. So my suggestion would be continue uh holding on to you know GBTND. It is creating negative divergences on the daily and the weekly setup which means the momentum is waning a little. So maybe not a bad idea to book partially but I wouldn't exit out of this stock completely. So partial book profit hold the rest with a stop loss at 4650. Got well uh it's very interesting because both those counters giving such good results but there's a clear preference between the two at this point of time for both GVT&D as well as Hitachi Energy of course that we just discussed previously as well but another caller now from Hyderabad and Prrenit has a stock query for us. Pranit very good morning to you welcome to the show.
What's your query?
>> Yeah good morning I'm having a query regarding uh PNB and I long-term outlook for three four years actually. Okay.
>> So, >> and is this the only PSU name in your portfolio right now? And do you have any other private banking names as well?
Pranit.
>> Yeah, I'm having HDFC and I'm also having IDBI banking.
>> Okay, got it. Uh, Shina, let me come to you then. HDFC Bank, IDBI, he also has and asking a question to us specifically on PNB bought at 104. What would you recommend for the next 3 to four years?
Well, I think PNB will see a bit more of weakness consolidation while valuations are not expensive at just8 times. But I think uh there was a bit of disappointment. The profits are shored more by the lower provisions. So of the three uh if you take I would of course prefer the large cap HDFC bank over the next one year. I think that should do better because that stock is consolidated for a long time. And IDBY bank yes because of the M& activity it may also see some bump up. it could take some time. So the preference would be HDFC Bank, IDBI and then last PNB.
>> Okay. All right. So that's uh the view coming in on the entire banking space.
In fact, there's one more on JNK bank.
Uh Gotham from Bengaluru is holding 100 shares at the levels of 131. He's looking at a time horizon of 3 years and wants to know as to what could be the possible upside growth for this one. Uh by the way, he's asking this to you Kushba three-ear view if possible on the charts if you can see.
>> Yeah. And I think I know why he's asking that because JNK Bank as a standout uh you know mover I've pointed out a couple of times at least on the morning show and it has given a fabulous breakout after a very long period of consolidation. It's given you that breakout. It's holding above uh you know those resistance levels and gaining ground. 3 years is a long time. A lot can happen in that. But if you see the kind of long-term chart of this, there is a major long-term cup and handle formation breakout that comes about at 145 and above those levels. So if the stock were able to go to that close above that, I won't be surprised to see this uh stock actually go out and hit 195 200 plus kind of levels also in the time frame that he's mentioning. For me right now, this stock is a very clear hold. Could that you know you've bought it and bought it at very reasonable levels. So I I suggest you continue holding on to this positional stop loss on this one comes close to 120 125 zones.
>> Got it. Well let's go across take another caller now from Hyderabad and Pawan has a stock query for us. Pawan very good morning to you. Welcome to the show. What's your question?
>> A very good a very good morning. My question was I bought I have bought on 474 number of share was 300.
>> Okay.
>> So can I invest on it to average or else can I shift to PFC?
>> Got it. Uh well and do you want to hold this for the long term Pawan since both are getting merged? Uh okay got it. Uh China on RECC he's holding 200 shares at 474. Should he just uh make the switch to PFC if you want and should he invest more in PFC at this point of time?
>> Uh yeah I think it will make sense to switch switch from RC to PFC. I think uh you know once the merger happens of course it'll be a stronger organization and valuations also uh if you look at even PFC standalone is not too expensive it's about one time price to book so I think it is a better switch at current levels because RC doesn't seem to be going anywhere >> okay all right uh so that's the view coming in on PFC and RC the next one that we have is uh from Yamin who's writing us from Chennai asking about max health she's got 40 shares at the levels of 1025 and wants a short-term perspective on is should I sell it at the current levels or should I continue to hold is what she's asking or whether she should accumulate what's your view on the charts Kush >> so I wouldn't recommend to accumulate right now because it's had a good runup right if you see the chart it's actually precisely at the 200 day moving average I mean today intraday went past that and then it's seeing that profit booking but good structure good volume accumulation you know the golden cross crossover of the 20 and the 50-day moving average happened a while ago I think if it takes out this 200 day moving average today on a closing basis more upsides can be had and anyway buying price is very attractive. So my suggestion a definite hold on max healthcare and I would suggest a stop loss near the 1065 1 1065 mark 1070 zone. So continue holding on to it. You just wanted to cross this 200 DM at 1090.
>> Got that view kosh. But uh the next one question next caller actually dialing in from Pune and Vine has a stock query for us. Vine good morning welcome to ask profit. What's your question?
>> Yeah good morning. I have a question. Is it right time to replace TCS by either CO forge or net web and secondly CDSL by MCX? Got it. But uh when I unfortunately I can only take one question since they are both polar opposites in what they're doing right now as well. Apart from TCS, do you have any other IT name in your portfolio?
>> Yes.
>> Which one is that?
>> The TCS itself only. Okay. So you only have TCS. Go. China. uh on uh would you make that switch right now switching out TCS with co-forge or are you avoiding that space as of now is the valuations lucrative to you?
See TCS I would remain with TCS but uh half of it he also mentioned Neteb now uh I would believe Neteb valuations are a bit expensive but I think the longer term prospects are very strong given the uh you know uh semiconductor and chip uh growth potential over the long term in India. So I would believe that half the quantity from TCS yes he can switch but instead of coord switch it into net web buy it at dips buy network at dips uh and then you can hold it for the medium to longer term.
>> Okay. All right. So that's the view on the IT counters that we just talked about. Uh the next one is on Gail. Uh our viewer Nidika from Pune is holding 100 shares at the levels of 191. What she's asking is as to uh she wants to know as to what should be her next course of action uh considering the uh technicals. So Kush uh your view on Gale?
>> Not so positive. It's had a series of lower top lower uh you know lower high lower low formations falling trend line resistance. The stock's attempt at rebounds have fizzled out. It was attempting a breakout near 165 170 zones not really materialized. Volumes on on the way down heavy. I think you get the drift right. It's it's not really holding up. I know you're on a bit of a loss and that's painful but the structure does not really look as great.
My suggestion would be exit.
>> Okay. All right. We've got I think Yogesh who's calling us from Jaipur.
Yogesh a very good morning to you.
What's your query about?
>> Uh good morning very much. Actually my Baji.
>> Sure. Go ahead ask a question.
>> Yeah. I am always buying everything and I asking about the PSUs.
>> I have a Bangkok brother. Bango brothers here. Huh actually I'm holding last five years this time I'm think I will buy for this in this price and how time how much time I will hold for that >> last five year it will very good factor for me >> take care okay so >> what I do for that >> take so but your question is basically on B got it I'll take this up with Kush Kush he's I think bought 500 shares at the level of 269 what would you suggest what should he do >> I think Yogesh is a frequent caller I think Yog from is a frequent caller and I think he knows that I'm a Marvari.
He's he perhaps one day we'll start talking in Mari.
>> He calls you calls us only on Thursdays it seems.
>> I think a few of them do but that's a sweet of him. So I'll try to answer that in Hindi if that is okay. So PSU banks it's just follow because you've been so sweet and kind of Maharashtraction So 7577 loss bank of Maharashtra Bank of Loss got that view coach. So you got one pay one free yog at this point of time a good mahabet. Not everybody gets it. Not everybody gets it. Yes. So Yogesh I think it's the Mari connection that might be working as well being very selective with his choices but viewers it's now time for the rapid fire round in this edition of ask profit shine as well of course you know the drill first question on force motors is it a good buy now for the next one year would you recommend that >> um yes it's a buy >> okay the next one is on Apollo micros systems goro from Benaluru wants to know whether he can in enter into this counter from a short-term perspective if yes what should be the Ice Kush.
>> No, don't enter now. You might want to enter close to the 3340 zone and keep a stop loss then at 315. Not now.
>> Okay.
>> Uh Fractal is the other one. Com from Mumbai is holding shares at 909. Wants a long-term view. Shina, I know you don't track IPOs, but is this one making the cut?
>> Um well uh I think I'll pass.
>> Okay. Any view? Uh I know it's a very recent single.
>> Yeah, but it had a good up move and then a very sharp downturn. I would suggest a hold. Keep a keep a trailing stop loss at your buying price. It could start the up move again.
>> Okay. Geo Finance is the next one. Hasha from Mumbai has been holding thousand shares at the level of 367. China continue to hold.
>> Well, um she can switch to some other you know NBFC or bank. It looks like it will consolidate for some more time. So I would say K you know it's a switch.
>> Got it. Uh CG power kush a short-term view is what Vijay is asking.
>> Yeah. very interesting uh stock picked there. I would suggest uh you know you can enter into it. 840 is your stop loss. On the way up look at 8.85 and 915 plus kind of level. So good pick.
>> Okay. Sterling and Wilson is the next one. Uh our viewer has bought it at around 270 levels. Continue to hold this from a long-term perspective or sell China your view.
>> I would suggest that he switches even from sterling and it's a switch.
>> Got it. uh on Dharma Bharat Kosh Ray from Bangalore is holding shares at 2085 and he's also following up the company because they've announced the fund raise does that have any impact on the charts uh anything that you're looking at right now?
>> Yeah, I'm not a positive one at that but because the stock is close to uh you know long-term support zones I would suggest a hold with the stop loss at 1650.
>> Okay, Dixon Tech is the next one. Our viewer Ajit from Dubai has bought it at the level of 10,400. He says he's sitting on a profit of around 5,000 rupees because he's holding 10,000 thousand 10 shares sorry. Um China continue to hold from a long-term perspective.
>> Yes, I believe the valuations are starting to look attractive. So he can continue to hold for the long term.
Shortterm it may see a bit of consolidation.
>> Okay.
>> Got that view. Sha on SBI also. Moan from Surat wants to know Shina he's holding shares at 775. Uh should he continue to hold? Is there a time to buy more now?
No, I would say just continue to hold.
Uh look to look for dips to buy. Don't buy immediately. It can consolidate for some.
>> Okay. The next one is on Paris defense.
Our viewer has bought it at the levels of 353. 100 shares is what he or she is holding. Continue to hold Kush.
>> Yes, you can very well continue to hold this. I would suggest positional stop at about 700. Uh Envirro Infra is the other one. Our viewer Chan from Bangalore bought shares at 177. China view on the stock.
>> I believe it's a hold. I think if the uh segment is doing pretty well, it's a hold.
>> 100 shares of Jubilee Food Works bought at the level of 680. He's already our viewer is already sitting on a loss of 24,000 rupees. Continue to hold from a long-term perspective. China >> long-term perspective, yeah, hold but I would believe Dani looks better compared to Jubilant as of now.
>> Got it. Pawan from Andhrah Pradesh you know was watching an interview of Samadara Madas and thanks so much for that Pawan he wants to know China that you know the other two verticals aerospace consumer that's starting to build up now probably do you think that's in the valuation should he buy for the long term >> I think that is in the valuation because otherwise valuations look pretty expensive if you look at the shorter term but numbers were pretty good uh so yes I would take the rally continue to hold keep stop- losses but hold for now >> okay the next on quality power. Nitan from Andhra Pradesh has bought at the levels of 425 slightly long-term perspective on the charts. Kush >> uh recovery underway. I think you should very well continue to hold a deepish stop loss close to the,000 mark.
>> Okay. All right. That brings us to the end of this rapid fire round. Viewers, time to slip into a very very short break, but don't go anywhere. We'll be answering more queries on the other side.
Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
Investments in specialized investment fund involves relatively higher risk including potential loss of capital liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
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>> All right, welcome back. You're watching Ask Profit. For viewers who are just tuning in, you can either call us or WhatsApp us your stock related queries on the numbers that are flashing on your screen up there. The next one that we have um is from Chancher who's writing us from Vasai. This question is for you Kush. She wants to invest 50,000 rupees in auto ancillaries. Is this the right approach is what her first question is and if yes, what are the counters to look at?
So uh I think Shanjan's been listening to me because you know I have mentioned that I like the autoang space. case I mean despite whatever is happening with the OEMs and whatever is going to happen uh you know with a lot of the input cost and everything probably China can you know shed light on that a little better but I continue to like the space because of the kind of price movement I'm sorry that's still there on the stocks right so if you want to consider I would suggest wheels India on declines something that I've repeatedly mentioned on the channel and has done fabulously well but right now it's overheated so if you do get it close to about 14 50 zones I think you should consider that look at bell rise also that is also something that is doing well. So these are a couple of stocks that I can uh suggest.
Belra by the way you can buy right now and keep a stop loss around the 200 mark.
>> Well uh China actually you know since Kosh mentioned on wheels India I think that joint venture with Bosch is just driving that momentum of the stock today. anything that you have on China view on wheels India or on Bosch Bosch is actually down 4 and a half 5% now in terms of the postcon call view but the but the revenue has actually doubled in the last 5 years for Bosch right any view that you have on either of those counters >> I think wheels India looks very interesting the numbers also were very healthy very strong numbers and I believe with good orders coming in from their joint venture partners uh there is some pressure on overall margins because of increase in metal prices but I think largely they pass it on over a period of time and especially this quarter numbers were very good it's a small cap balance sheet is also very strong so I would uh concur with uh Kush that wheels India looks like an interesting bet as of now >> got it and hopefully that answers the question also from V Muri as well he bought Bosch at 36932 and >> as of now >> got it and hopefully that answers uh the question also from V Muri as well he bought Bosch at 369 932 and u he has been following the company as well the the big acquisition of 9,000 crores of boss chassis limited will be the future of course moly but that's the view coming in from from China and hopefully that helps you as well uh push unfortunately is asking us on a stock that kosh I think we've asked you about 100 times now on happiest minds uh he's bought shares at 886 and is currently in the losses u would you recommend averaging what should he You already know the answer to the first part of the query, right? Give hope to viewers, right? If hope is not a good strategy, punit. Hope is not a good strategy. Absolutely not.
>> Yeah. No. Uh okay. So, this is this is this is difficult because he's sitting on massive losses primarily because of that. My view on this is not very constructive. Uh it is attempting a rebound but again it doesn't have enough strength or enough volumes going for it.
The honest answer is that you should exit out of this uh right now. uh it's consolidating with a negative bias. If you want to give yourself some chance of maybe the stock rebounding and you know having a slightly lesser loss, keep a stop loss at 330 but the outlook despite this kind of fall is not looking great.
>> Okay. All right. So that's the view coming on happiest minds. Uh the next one that we have is from Arvind who's asking about CESC. He's got around 100 shares. What he's saying is that he's bought it before the West Bengal elections at 181. wants to know if there is u you know further possible upside on this one possible or not from a slightly long-term perspective. Uh so China your view on CSC?
>> Well yes I think uh they are uh they are doing pretty well and power sector I think the overall sector is doing well and not only that even CSC looks pretty decent from current levels. uh I would believe that uh they have got good plans uh for both expansion their numbers even for the quarter were quite good March quarter numbers so I would say it's a hold at current levels >> the next question coming in on Baj housing finance kosh and harsha from jawada who's a regular viewer uh but bought shares at 165 so very elevated levels is it starting to form that bottom at 82 83 it's come there twice thrice but what's your view on the stock now what should she do >> okay because of the nature of queries that we've been receiving off late where viewers are sitting on a deep stop loss or deep losses. Right? My honest suggestion trade stop loss decide exit. This is an honest suggestion in terms of a trading strategy. The three things you should know before you enter into a stop target, stop loss and time frame in trigger you should exit. Okay, so that's the general view for everyone.
As far as baj housing finance goes, look nothing to write home about. But you know there aren't really these signs turn or anything. Also the kind of April rally that came about is starting to fizzle out now. Again the structure not looking good. There is a gap around the 80 mark. Perhaps that could get filled and perhaps the stock then could appear you know attempt a rebound since you're already sitting at this much loss. My suggestion continue to hold with a 79 rupee as a tight stop loss. But like I said the structure even now is not looking so great.
>> Okay. So that's the view on Bajage housing finance and I think Kushie put forward a very important point. And it's very important to stick to your stop- losses because you know just yesterday I think if I'm not wrong I saw somebody having deep pocket loss of around six lakh rupees which might be his or her appetite but still that's a big amount of loss that you're incurring. So very important point and Kush thanks for pointing that out. Uh the next one is on Cupid. This is also for you Kush. 300 shares bought at the levels of 102 3 months outlook on this one. Hold, sell, buy at the current market price. Kisho from Chennai wants to know. interesting stock, interesting buy. Uh the price is also very uh you know reasonable. So I think he's done a brave thing buying it at that price. My suggestion you should continue to hold. Profit booking dip that was expected came about last week.
The stock is now again attempting a rebound. Uh trailing stop loss at 112.
Uh good possibility of the stock hitting the recent swing high of 133 and about 140 plus kind of levels in the next 3 months. So a hold with a trailing stop loss at 112.
>> Got that uh view. The next question coming in now and uh this one's on Mahindra and Mindra are the current levels a good entry point for the next 2 years is the question from Ajit from Kochi. Would you recommend that China it's corrected back to that 3,00 3,100 mark and has been you know in that 200 to 300 point range. Is this is now a good time uh to buy for the future?
>> I would not buy for the future as of now. I would keep a hold and look for dips to buy because one is monsoons is uncertain and that could have some impact on their volumes and factors which is doing pretty well as of now. So I would not buy as of now. Uh keep a watch and buy it at dips.
>> Okay. All right. So that's the view coming on Eminem. The next one that we have uh is on uh barbecq nation that is United Food Brands. Now 200 shares bought at the levels of 580. Our viewer wants to know whether to continue to hold um exit. What should be the next course of action? Um he says that he's been holding this since a really long time and sitting on a loss. Um and stuck since two plus years. So now what should he do? Um Kosha, I'll come to you on this one. Your view on the charts for this one. Yesterday did hit an upper circuit, but what's >> Looks like it's on track to hitting that again. uh you know today I'm I I haven't tracked it in terms of the news but perhaps there's either a news or a result reaction or something of that sort you know 2 days on the trot this kind of move without news is very difficult good thing is that it's still some distance from overheating so it does have room on the upside volumes are fabulous for yesterday and uh today so I would suggest a hold uh you know a stop loss on this one comes close to about 440 435 zone so keep that as your stop loss continue to hold the stock might face resistance around 525 5 levels. I think it's slightly shy from you know your your buying price but once it goes to those levels you might want to start offloading gradually.
>> Got that view. I think that 14% plus uh seems so sales growth. I think that's on the results as as you rightly mentioned that's driving the trigger and has been you know an underperformer in that sense in terms of fundamentals and I think hence just the first aspect of seeing that kind of revival is probably something that street is slapping up at this moment. uh uh and and you know continuing with that as well a stock that's done well for investors today Sang Moas Somia from Bangalore has bought shares at 336 and holding almost 3,000 shares of the counter so sitting on good gains right now up 14% what would you recommend yeah China uh because you know a very sharp move on results but uh any view on on um Sangi movers >> well yeah I think uh yeah the numbers also were quite uh I mean I would say Okay. Uh though they are continuing to uh do better in fact quarter over quarter also the numbers are in fact very good which I see now. So and I think stock prices are also reflecting that and it's a hold at current levels continue to hold.
>> Okay. All right. So that's the view coming in on Sangri Movers. The next one that we have uh is um coming in from Chandan who's writing us from Hyderabad asking about AB Capital. He's got around 150 shares and from a short-term perspective he's bought it by the away at the levels of 360 wants to know as to what should he do next. Kush your view on the charts.
>> Yeah, we had a discussion on this uh you know today morning. I think you should continue to hold. The stock is consolidating. The bias is positive. I mean of course you could ignore today's move but in the medium-term the bias is positive on this one. I would suggest a stop loss at 335 but once it takes out you know these 369 370 levels I think it could get into an upward trajectory you know a fresh from here. So yes, continue to hold stop loss at 335.
>> Got that view. The next one coming in on JK tires and Ramana from Hyderabad wants to know a medium-term view of the stock.
Um uh Kush, what would you recommend?
She's asking for a stop-loss and a target. I think she's heard you.
This is brilliant. This is application of theory. Yeah, the theory doesn't make you money. The application does. So fantastic. Kudos to you on that. Has she mentioned the buy price on this by the way?
>> 410.
>> Uh okay. Okay. So the uh you know I think from a near-term perspective the uh tire story is done. A lot of these talks just flew off the radar right I mean they were on a roll no pun intended you know so I think you should perhaps exit this right now. Uh I would suggest a stop-loss but with the kind of structure that there is it's actually better if you exit it again if you want to give yourself a chance keep a stop at 335 but right now the structure is weak to negative. Well, I I don't like that that thing that you're saying is a task for he's done as an auto researcher. I I don't like it one bit Kush, but China, >> how about the input prices?
>> Yeah, China. And actually, I'll just ask China also on this. China, just do you also feel that the tire space is done in the near term? Sorry, it's a tough question, but Kush has led me and rolled me into that question in that sense.
>> Well, you know, the valuations are starting to look expensive because raw material prices are impacting their overall margins. Uh so uh I would I would agree that you know for now uh auto stocks are starting to look a bit expensive on pure valuations.
>> Okay. All right. Uh Kush did a small dance because you agreed to him and Pun is not very happy with this but anyways moving on to the next one. NSDL is a query that Ku Tarangu from Dubai is asking about.
His buying price is uh 1161 and 56 shares is what he's holding. He's already sitting on a loss of around 19,000 rupees and wants to know whether to whether to continue to hold or exit.
Uh Kush your view >> exit the volumes even now look at the last week volumes massive right I mean way above not way above but you know significantly above the last 20-day moving averages despite the kind of vertical fall that the stock has seen.
Um so like I said you no real indicators of a revival or anything and it's a better it's a better idea to exit right now.
>> Correct. Well true alt is the other one a very you know uh the ethnol plays has been in focus over the last couple of quarters and true alt is a beneficiary of that. So is manul who's from Delhi and botch is at 377 so sitting in gains wants to know if he should book out the profit or country to hold. China you track this counter they've they've got some good targets over the next two years but any view on the on >> well see uh what we saw last quarter was a loss but I think from there things are starting to look a bit better both in terms of government policy so as of now given the technicals also I think it's a hold as of now the stock is doing pretty well hold for now >> okay all right the next one that we have is on ITC our viewer Kartikan from Tiran Puram is holding around 14 115 shares of ITC that he bought at an average price of 343. Uh says from a long-term perspective can he continue to hold sell buy more average at the current levels?
China your view on ITC?
>> Well, I've been an ITC bull for quite some time. It has disappointed for uh last couple of uh I would say months. uh but at the same time I would continue to hold because of valuations pretty attractive valuations and uh in terms of cigarette I don't think today the numbers are going to be too great in terms of volumes but of course uh one needs to wait for one or two quarters before taking uh any major decision on ITC it's a good dividend player I would continue to hold for the long term >> and I think not just the first half right FI27 is going to be tough for them considering the taxes the price hikes that they're going to take plus the tobacco leaf inflation itself is not helping the margin. So I think the FMCG business is going to be the star performer for ITC for at least the next three to four quarters. Of course earnings today we'll be watching out for the commentary as well. But uh that's on ITC. Uh the next one that we have is on EPAC durables. I think uh Punit who tracks this very closely we would we've been having extensive discussion about this one as to how they've managed to do uh you know come down to zero profits this quarter. What's gone wrong? It's a it's a very weak quarter for the company most certainly and it's not helped down 8 and a half% now and it's not helped that uh the PLI benefits some of those have been actually reversed so FI25 PLI benefits have been reversed some more clarification from the management uh is awaited but uh China we seeing a lot of pressure on the the on the AC side of things rightas also booster also the results weren't the greatest and today EPAC as well how are you viewing the space any view that you can offer on EPAC specifically also for Venu from Hyderabad who bought shares at 239.
Well, see they are facing this problem because of uh the problems that are happening in the Middle East and uh that is and also plus in terms of their raw material cost is also being impacted but I think the balance sheet is strong and after this correction that we've seen in the stock maybe you know I if one is looking to add one can add at lower levels and if one is looking one is already holding I believe at slight dips you can in fact average if you're looking at the long term because the problems are not going to get over in the next one or two quarters but if you're looking for you know small cap with potential then maybe at lower levels you could add but not at current levels >> so that's the view on impact durables the next one is on the farmer space um from Bengaluru says uh by the way this is for you Kush that she has got no farmer company in her portfolio which is that one stock at the current market prior that looks attractive to enter six week of straight gains for the nifty farmer is what we've seen right push uh and a lot of farmer stocks I mean we've been talking about this as have done exceptionally well in the past so many days, right? Any particular one that you think now makes still makes sense to maybe enter and make some profits.
>> Sorry, what's the name again?
>> Uh Umar from Bengaluru.
>> Um okay, great. Uh first of thank you Uma for directing the query at me.
You've actually made life difficult for me because every second day I've had at least one pharma stock in the list as a buy call, right?
>> In fact, I was going to say it it might not be just one. You might have multiple options.
>> Why not make a basket, right? I mean, you know, why be that concentrated? So I think I'll give you a couple of names you know in this again you would have listened to you know some of these names on the channel you know when I gave them out as calls but you can definitely consider them even now. So one is Senores Pharma the other is Ajanta Pharma and the third is Ika Labs. So a lot of these names have had you know a good price up move some of them have already seen profit booking and rebounding something like Senoris hasn't really and it's continues to do well. So I think you should consider these three names just for your benefit. I will repeat these. Senoris, Ajanta and Ipkabs. So these are some three stocks that you can consider as a farmer basket rather than that one single concentrated stock.
>> Got that view Kush. So definitely good pill to swallow is what Kush is recommending today on on this one.
>> I see. Huh. Today is a day of funds.
Well um and and it's been a good market day today, right? I think the first time in this week where we've seen some kind of momentum. So lapping it up with both hands at this point of time and another caller now from Bengaluru and Chetra has a stock query for us. Chetra very good uh morning to you. What's your query?
>> Very good morning to sir. I actually this question is for Kushbara sir. What is his view on EMS and what are the stock suggestions for this for long-term and short term? So yeah >> got it got a Chetra Kush you've been very volatile to say the least. Uh anything that you like right now because on the fundamentals I think the two companies that gave good result are the smaller ones you had Surma you had Avalon and by the other three have just been you know bearing the brunt right now maybe of size maybe of demand what would you recommend? Yeah. So, Chetra, thank you for directing the query at me.
Beautiful name by the way. Uh, I am not very gung-ho about the entire space. I mean, it's it's not really something that has just gone through the roof and, you know, makes a screaming buy. Even after falling so much, a lot of the these names don't really come up as a screaming buy. My suggestion would be focus on three stocks and I will rank them. Actually, this is my ranking for these stocks. One is Serma, the other is Avlon and I'll add one more to the list which is PG Electroplast. So PG Electrop plus already seen some profit booking but there are signs of rebounding from here on. So like I said you might not want to go overboard you know in terms of allocating too much money to this space but if you want to you should have these three stocks on your radar again Surma, Avlon and PG Electroplast in that order.
>> Okay >> got that view. I think the next question is on Mari Suzuki and our viewer got has bought shar actually 15,700 so slightly elevated levels on valuations. uh asking for what he should do with his 20 shares. Uh China, is it a good time to probably average down? What are the levels you're looking at? U you know, currently I think 15700 slightly elevated in that sense. What would you recommend?
>> Yeah. Yeah. So the investor is making losses and even at current levels for the shorter term I don't think you know the stock is going to rebound. While there are volumes that are doing well, capacity expansion is there on the cards but all this takes time and they are having some problems with raw material cost going up. So I would say uh if you want to average it's better to average close to about the uh maybe um 11,000 type of levels but not at current levels. Uh you can just wait and watch.
>> Okay. All right. Time for our rapid fire round. Uh Kush and China. Try to keep your answers as short as possible. The first one is from Mohammad who's asking about DCB Bank. He's bought around thousand shares at the levels of 182.
What's the short-term outlook on this Kush?
>> Yeah, you can continue to hold stop loss at 173. Uh, finex cables China bought at 910 by Sabita from Hyderabad. What should she do with this counter now?
>> Uh, she can cut to hold.
>> Okay. The next one that we have is on Page Industries. Our viewer wants to know whether uh can he buy the stock at the current uh levels though the results are supposed to come today. China any long-term view on this one?
>> Uh yeah he can it looks pretty good so he can buy it at any dips but not today because the numbers are today. So wait but yes >> got it. On an engineering is it a good time to you know purchase right now China would you recommend that for a viewer Madusan?
>> Uh I'll pass this. I don't track it.
Anything on the charts Kush that you might be tracking on engineering?
>> U nothing to write home about. I'd give it a miss.
>> Okay. The next one is on Yes Bank.
10,000 shares bought at the 28. Kush >> continue to hold.
>> I'm saying a no. If he would have asked me whether to buy or not, I would have said a no. But because you already have it, keep a stop loss at 20. Continue to hold exit at slightly higher levels.
>> Uh next one's trans lighting bought at 500 by Bindu from Vijayada. Should she continue to hold her 100 shares China?
>> Uh yeah, she can continue to hold it though. Um I think it looks pretty weak for now but maybe on a rebound she could look to exit but as of now hold.
>> Uh Ajenta Pharma is the next one. Kosh already likes it technically. Shahina your view our viewer Nha sorry Aha from Delhi has bought it at the levels of 3192.
>> Yeah it's a hold.
>> Uh Kush Mobiqu bought at 234. Uh Joti from Delhi wants to know if she can exit.
>> Yeah, that'll be the better option.
Yeah, you might want to exit this.
>> Okay, Kush, the next one is from Satya.
He's asking whether Ajenta farmer or Biaorn. Which one to choose for better and faster returns? I believe it's Ajenta.
>> Okay, >> there you have it. The next one's on latent view bought at 421 by Avvin Naidu from Bangalore. Wants to know if he can book his losses or should he hold China?
Um I think um she he should hold it for now. He he probably will get some better levels because there seems to be some bit of a bounce as of now. So he can hold it for now and look for a bounce to exit.
>> Okay. The next person on Idea Forge 100 shares bought at the levels of 560. What should be the target price and stop loss for the next 3 months? Kush.
>> Yes. So Idea Forge has had a run up looking at uh some sort of profit booking. My suggestion stop loss 690. On the way up look for targets of about 815 and then the recent swing high of about 890.
>> Sansa Engineering you know Bindu from Hyderabad bought that 2415 stocks flying up in 13% in trade today post results uh as well. What would you recommend here?
China good aerospace auto play in that sense >> well uh it's a very high risk stock actually but I would say hold for now because here in terms of you know valuations it is very expensive but since it's diversifying into you know aerospace and various other sectors it may be do do better in the longer term so as of now give it a hold risky stock >> okay well spin cor 200 shares bought at the levels of 935 continue to hold push >> sorry what's the buy price uh 9:35.
>> Yeah, continue to hold. It's getting overheated here. So, you might want to book 50%, hold the rest with 1275 as stop loss.
>> Overall, realy bought at 411 by Saga.
He's holding 5,000 shares. Yeah, China.
Should he continue to hold? He's sitting on massive gains. Should he book out now?
>> I think even at current level it's you can continue to hold. The overall sector is coming back in focus. So, hold.
>> Okay. Tamil at Merkantile Bank. What are the levels of 545 short-term target on this one? 500 shares is what Satish is holding. Kush, >> good structure, some profit booking.
Continue to hold with a stop loss at 660 650 zone.
>> Okay. All right. This brings us to the end of the second rapid fire round as well. Kush and China, thank you so much for helping us answer all those stock related questions. And viewers, if you've missed out your queries on this one, you can always call us or WhatsApp us at 2 p.m. because that's the second edition of Ask Profit. But till then do stay tuned and keep watching N profit.
Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
India's unshakable news habit ndtv.com is India's number one English news website.
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 Ned 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.
On editors cut, our editors come together with experts to distill the week's information plates into clear perspective.
Down the stories shaping the world from markets and economy to global conflicts and what lies ahead. This is where experience meets inside.
No noise, no how, just sharp takes on what to watch next.
Hello and welcome to KYC. Hey, I'm Shahhat Dubet and you are watching NDV Profit and it's a very interesting show where I get you companies which are buzzing on earnings, hidden gems and also a lot of retail interest and I get you these interesting companies for you and today also there's a very interesting company but before that try to guess it. The first hint it's a certification services company for natural and lab grown diamonds. The second one is also very much important.
The company is backed by ADIA which is nothing but Abu Dhabi Investment Authority and Government of Singapore.
And also if you look at it, the company's promoter is Blackstone Group.
Interesting, right? Company has come earlier in KYC also. That's another hint I'd like to give you. And they've delivered a strong March quarter.
Interestingly, from January lows itself, the stock itself is up 25% as well.
talking about German jewelry but the company is a certification company. So the company in focus today in KYC is going to be international gemological institute. This is the company which we are talking about. The company has come out with a good set of numbers. But what are the key questions we'll try to ask of course on the earnings and the outlook going ahead. Let's put out the key questions you know for this company.
The first one is definitely going to be on the growth expectations for FI27. Is there any change in the margins, change in the sales outlook, volumes? That's what we'll talk about. Also, the LGD which is nothing but lab grown diamond.
How's the volume looking like? Is there any you know changes happening in this certifications for this segment? PM Modi recently urged to buy less gold. But will this impact the studded jewelry volumes? That's also a key question. A lot of investors have been putting up the Middle East conflict. What happens on the impact on business? Remember the company has you know offices in Abu Dhabi and Dubai as well. Apart from this uh the AL acquisition that's where the bullish commentary is coming in especially on the diversification part that's something we'll be watching out for and also the diamond prices they have fallen almost 50%. Does that impact the demand and is there a second order impact on the company also apart from this the threeear sales CG is of 25%.
Will this growth momentum continue or because of a higher base there might be a little bit of moderation going ahead and of course we'll be asking the certification gap is it widening between LGDs and the natural diamond segment or not so these are the key questions and to put that in perspective we'll have the global CFO of the company Ishwar Ayar with us but before that let's try to learn about the company what does this company always do or you could say what does the company's main operation ations are of course the certification and accreditition of diamonds, colored gemstones and jewelry is something their core business and to get more things in perspective of course they do the grading reports for the diamonds and this colored stone origin reports as well. They have an education setup also and 55 to 90% market share they're having across their key categories and interestingly apart from this the backing is something which the street is quite bullish on. Uh the promoters is Blackstone and of course backed by some really large institutions globally as well. Also let's look at the other details about the company. They have transitioned if you're tracking this company now it's April to March. Earlier it was on a calendar year basis. So that's an important point to mark and the global network of 36 labs and 21 schools of gemology across 10 countries that's what we are going to talk about and also the revenue mix let's just have a look how things are panning out largely lab grown is 60% that's the majority I'm talking about after that there is some kind of a break up of course the natural diamonds that's around 15 odd% the remaining goes for the jewelry and the gemstone segment this is where their certification they do of these key products. But March quarter highlights, it was something very strong. The total certifications went up 16% on a year-on-year basis. And also, if I give you more details, let's just pull up other key triggers. And there was a strong growth momentum on the certification of their key business segments as well. Also, the bullish commentary is coming on the AGL acquisition and that's coming from the management. So, we'll try to understand what are the incremental benefits actually there. The average realization prices they did go up by 4% on a year on your base is coming in at 987 rupees per share. The reason is the increased mix of natural and lab grown loose stones and that is why the average selling price which is called ASP has gone up.
uh largely let's see the industry how things are panned up and this is a very important uh you know takeaway four times there's a production growth coming in the last 3 to four years also looking at the industry the industry size for the India is almost6 to 7 billion for a global look at that that's 10 to$13 billion but how the CGR growth is looking like that's around 13 to 15% for India and for global it is around 6 to 8% so if you are understanding the industry do take a note or take a screenshot of this data what works for the company of course a strong operational and financial parameters are there high ROC company Blackstone as a promoter group things are looking really strong here and also one positive point is it's a debt-free company so largely these are the key positive pointers coming in but what is there where is the lack happening where is the concern there is a lack of analyst coverage in this stock secondly IPO post it IPO it was in year end of 2024. After that, there hasn't been any major institutional buying post the IPO and it's almost one and a half years now. Uh the benefits of the recent AL acquisition will take time. It's not that it's going to happen next quarter.
It's going to take some time and that is what a little bit of concern or caution would be there if I am analyzing this company. But to analyze this company more in KYC, I'll be getting you those eight parameters where we judge a company and interestingly there includes income statement, balance sheet, cash flow. These are the official you know financial ratios to track return ratios.
I'll get you both the ROC's and ROIs and don't worry street credit also will try to understand from the IPO price has the company made any money or not.
shareholding of course we spoke about valuations the company doesn't have a peer so we'll be judging their peak and the current valuations and of course the outlook on the industry going ahead so eight parameters for the KYC in this show the first one let's start with that's the income statement and largely the threeear cagr revenue eida pat all of them growing 30% plus so a good healthy you know income statement growth in the long-term basis but the Q4 numbers is something which I was very bullish on and that is where we are seeing a good momentum happening if you could just show the Q4 numbers and this definitely beats whatever the expectations was there in the street a yearon-year basis there is a good growth coming and they're sustaining it the question is will they sustain going ahead or not let's pull up the margins also to see what has happened remember most of the data is calendar year and now they are changing the reporting period and there's a good up move in the margins also at 64% in first quarter calendar year 26 six or let's just put it March quarter to simplify it for your analysis. So net net income statement is a strong thumbs up. Let's look at balance sheet. I remember I mentioned that the company is debt-free company. So that's a good sign a healthy balance is also there 464 cr rupees and if you have a promoter like blackstone you can expect that the balance sheet and the working capital will be maintained very professionally and that's what we are seeing. So balance sheet is also a strong thumbs up. So we spoke about income statement, we spoke about balance sheet, all of them are ticking but cash flows let's see what's happening and remember the company has come earlier in KYC also and I'll give you the entire history of it but you need to be stay tuned with KYC right now. A little bit of variance here in the net cash flows. Of course, some adjustments are there when it comes to the investing in the financing segment, but largely from the cash flow operations. It is a decent growth and the conversion is also pretty decent.
So, let's keep it neutral and give this a neutral rating when it comes to the cash flow segment. Let's talk about the return ratios. And remember this return ratios numbers of the last 2 years we have gotten it's roughly from 48% is the ROC and now it's at 45% there's an adjustment also let's pull up the roe numbers to show you and remember this is a very high return ratio business same thing story happens here as well remember there was an adjustment also which the company has taken in place and because of that these return ratio minor hit has come in if you compare that this is the reason for it the RO adjustment for a fresh equity issue it was there in the month of December 2024. But nevertheless, Roe ROC strong is Dhundga and we know that by now also let's talk about the shareholding what has happened the promoter shareholding of course we spoke about it. Blackstone is the group here. But my concern is we had good names in the IPO but after that have the good names added positions no it hasn't and it's been almost 1 and a/2 years it's largely same actually FIS have reduced a little bit it's coming in at 9% and DI's holding has been flat no major move for the public also so largely the institutions are holding most of the stock so it's a neutral rating right now when it comes to the shareholding but the question remains is has the stock made money for retail or for the investors that's the key question and remember from January lows I had mentioned the stock is up 25%. But the concern is from here from its lifetime high levels especially during its IPO time the stock was you know trading at a pretty stronger rate it's down 43% it hasn't recovered yet and also from the IPO price also there is a you know fall you know it's down 12% from one year basis also the stock is down 7%. So concern is there when it comes to the overall performance because that money hasn't been made yet because of that I'm going to give this a thumbs down. Let's talk about valuations how things pan out and largely the peak valuations were 41 times especially during the euphoria of the IP but after that correction has happened and it's at 30 times right now if you compare that with the 12 month trailing P. So largely valuations seem neutral right now. I can't say very attractive because there's just only one company. What's the sectoral valuation? It all we need to give in more time. It's just been one and a half years. So, I'm going to give this a neutral rating as well. But outlook, let's see what's happening here. And outlook seems to be turning more bullish. I just read the recent uh you know management commentary, the bullish commentary coming on American Gemological GL labs. That is something which to we need to talk about. LGD the lab grown diamond is definitely at inflection and now the industry is moving towards volume zada volume zada certifications to simplify it for you and also a good v visibility comes for the revenue now are they using AI to increase their operational efficiencies that's what we'll try to understand and if yes will the margin outlook go up and the volume growth pricing stability and operating leverage already exists so company is retaliating that statement so net net the outlook remains pretty strong and of course Indian government recently standardized a terminology for this lab grown diamond so more you see more quantification happens more uh regulations come in so more certifications also come in so it's a strong thumbs up when it comes to the outlook let's see what's the final rating in the KYC segment for international gemological institute and largely income statement balance sheet have been really strong cash flow is decent the concern is definitely not here. The concern comes in the street cred because the returns haven't come in for the investors and at the end of the day everybody wants returns. Also, let's look at the valuations. Largely we could say neutral but the outlook is something which the management is quite bullish on. So let's give in the entire KYC ratings for the company and right now is going to be 5.5 out of eight. It's largely in line to positive on the average numbers which I generally give.
But there is an interesting take.
There's a history of this company coming in KYC for the third straight time they have come. So let's give you the entire picture. First time they came in March 2025. It was around 5.5 out of it. First time from the IPO. After that early this year they came a minor dip. But now they have regained it back in the May 2026 in today's KYC as well. So this is the entire KYC report card for IGI as well.
But to understand more we'll be joined in by the management. He is Ishwar Aayer. He's the global CFO of this company and interestingly he has been at this helm from October 2023 onwards. So interesting conversation with Ishwar but just after a straight break investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
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No noise, no how. Just sharp takes on what >> welcome back to KYC and now we are joined in by Ishwar Ayer. He's the global CFO at International Germological Institute. Uh Ishwar it's always a pleasure to have you in NDTV profit and of course first foremost good set of numbers coming in Q4. Of course Q3 also last time we spoke was strong as well.
Now the question is does this momentum continue in FI27 as well because there is a hint of uncertainty all throughout the globe. So how do you take that?
>> Yeah thanks uh it's a pleasure to be on the show. Thank you for having us here.
Yeah uh we've had a extremely strong u actually four quarters four five quarters post the listing.
>> Uh yes there are uncertainties that uh we all are grappling with. uh we've given a full year for guidance again at around 15% of revenue growth and 20% epida growth. So and as the year starts it's been a strong first uh what quarter four for us now >> momentum and right now shifted right so is will there be any accounting adjustments also in the coming or >> no there's no accounting adjustments it's just that versus the classical 12-month reporting uh uh report out I think we've now coming with a 15-month report and uh just to ensure that there is adequate comparatives etc our investor deck is also capturing a corresponding 15-month uh comparison versus for the previous period as well.
>> Exactly. So as an analyst, it got a bit like you know too much on 15 months and 12 months but anyways the certification segment you know the volume growth uh you spoke about the numbers it's fine but the certification is there any some kind of a tailwind happening here because you mentioned in your presentation that now LGD becomes a volume play what does that mean? See I think uh what's uh just to give a context on how the LGD has evolved uh the US market has been the first adopter of lab grown diamonds all of the manufacturing sits in India and that's the reason most of the certification also happens here in India so it's basically a made in India product with a made in India certification body as well u and uh because of the affordability that it that it works with I think there is a lot of scope for the Indian consumer also to come into play And that is what we are also looking at because while uh it's today in the US most of our whatever gets manufactured here goes to the US >> uh in due course of time I guess the Indian consumers will also come into into the freight and that's the trend that we are also seeing over the last four five quarters because if you were to look at our lab grown jewelry certification business it's pretty small now but it's growing at a healthy 25 30% range in the last three four quarters this quarter was around 29% I guess.
Yeah, >> the margins front also Ishwar I was just looking at it there's a good contribution coming from the studed segment also do you think this trend continues and if yes what kind of margins we are looking at see over the last uh four five quarters I think our margins has been pretty consistent I think it's been always plus one or two but I think uh importantly from the company standpoint there are significant investments that we are making uh there is uh I don't know whether you've been able to notice it we co-sponsored the ladies world cup last year okay >> we are also now uh partnering with Gujarat Titans for the IP.
>> Anything on the FIFA World Cup?
>> Uh, not yet. Not yet. We are we'll have to think through that. But I think we are also making significant uh brand investments because the need for a third party independent certification body is far more important today than the past.
>> So is that means if you're doing a significant brand investments so your expenses would be coming in a little bit of margin pressure would be there if you want.
>> We hope that with the volume throughput that's coming in and just to address your first question as well. I think uh significant capacity additions are also happening in the segment because as I mentioned probably the Indian consumer also comes into play. There's a lot of retail activity also going on in terms of number of outlets that are getting open to sell lap jewelry. So there is a lot of interplay at the moment which is happening and with our operating leverage that we have you know some of this volume throughput also enables us to get good cash flows through >> and literally you do not have a major competitor in India and you have most of the market share also you know you're having a lion share of it. I just wanted to understand there's a lot of you know Middle East issues you know West Asia issues coming in you also have offices in Dubai and Abu Dhabi is there an impact there happening see uh I think at the early the early onset of the war obviously we had uh we are concerned I don't think the business is that important >> nothing coming on the numbers in >> nothing that's come on the numbers but I think we have very cognizant to ensure that our people are protected there so business obviously takes a backseat when you have such issues there so I think our paramament important aspect ect that we wanted to start with when the war started was to ensure that the people there is safe but they've been able to manage the transition pretty well. I don't think there is too many issues. So we have an office only fine.
>> We have an office only in Dubai. It's been okay. I don't think there has been anything to worry about at the moment.
>> Right. And there's a lot of bullishness coming in your commentary for the AGL American Global Institute. We spoke about it and this time we can see that the conviction coming in. If this conviction comes in by when can this conviction come in your numbers the benefits when that numbers start acrewing and why this acquisition is important? Yeah, I think uh to address your last question first uh this is a strategic investment that the company has done because our services is restricted to diamonds. We wanted to enter gemstones and AGL is a leading brand as far as gemstone certification is concerned. So that is a thought process behind doing this acquisition.
But the important thing to also for everybody the audience also to know is you can't you can't scale it up overnight because this is high competence highly skilled work that happens >> and uh this is a 10 11 man man organization based in New York you know so we have to build that sort of uh uh structures and infrastructure to do this grading elsewhere the see what happens is with that the skill set that they have >> and the geographical presence that IG has there's a good marriage that happens. Now how do you translate that into getting new offices and because we have a Jaipur is a very large market for gemstones in India. Thailand is pretty big. Dubai is pretty big. China is also getting very big. Now how do you build that competence across the other offices in terms of recruiting uh skilled labor?
It is still a work in progress.
>> Yeah, it's absolutely work in progress.
The integrations have happened. Uh we have also talked about two months of revenue that seeped into our numbers this year. It's given us an incremental 2% revenue growth as well. M >> but I think the uh >> the real the real the real job starts now for us in terms of building that capability across our offices.
>> So we can expect two three quarters >> absolutely two three quarters I think let let everything settle down at the moment. I think there's a lot of work that's gone in terms of integrating financial processes.
>> So it's going to take time but nevertheless on a year full year basis the benefits will start coming in and the diamond prices that's a concern. the prices have fallen and I'm talking about the last 2 three years the stock you know you could say the price is down 50%. So does that impact the volumes or the purchasing decision?
>> I think uh uh while the prices corrected sometime in 2024 but we have seen a lot of stability since then because uh beyond a certain base price fall you know the profitability and the commercials of the growers also get impacted. So we have seen that sort of stability at least on lab grown wholesale prices but you must understand that the retail prices are significantly they are holding firm because they're like five six times uh at price at what the diamond prices >> because of the brand play at at brand we have been seeing also so much retail investments coming and that's what you know we have seen the trend happening across all the high streets which I have visited I've seen that >> but there's a gap widening is there a certifications gap widening between LGDs and natural diamonds right now.
>> No, I think see the the four C's are what determine the commercial value of the diamond be it natural or lab grown.
So without the four C's impossible to do a trade between the various players in the value chain you know >> and just for information what are the four C's for the people who are tuning in first sorry yeah so this is cut color clarity and uh the carrot weight >> cut color clarity and carrot weight so these four things are there you should remember that >> these four C's determine the commercial value of a diamond is akin to a 18 karat or 24 karat or 9 karat gold so this four C's is what determines the the value of the diamond and that is very critical so regardless of whether it's natural diamond or labro IGI provides four C's for both >> right that's pretty much interesting and the last question I need to ask is the market share because you already have there's a range there I couldn't find it in the investor presentation last time we spoke it was between 55 to 90% on your key categories any gain which has come in any category >> you see I think uh for us uh an important prerogative has been to get into natural diamond space uh because um >> that's roughly 65% of >> your I think globe India we have probably at that level But globally we must be around 20 25%. So I think the largest market obviously is the US. So that is an important uh aspect for us to drive and that's something that we're trying to work on. Natural diamond business also grown 18% over the 15month period and some 10% this quarter.
>> Right. That's a pretty interesting take coming in. But yes this time from last time we spoke in KYC and from now there is a stark improvement you know in the company's you know vision as well. So very interesting story. It's always a pleasure to talk with you. Same here.
>> And that's the interesting story of International Gemological Institute and stay tuned to KIC and NDTV profit for these interesting stories.
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Good afternoon. You're watching Markets at 12 with me Somit Sarca. This is the show where we get you updates on the top buzzers and the news updates at the noon. But first up, let's go across to the Zidus management. Ozidus life has reported a strong set of numbers led by a strong recovery in the North America business. Robust growth in rare disease therapies and continued momentum in the consumer wellness uh business is what has aided the company in the fourth quarter of FI26. Let's listen into the conversation that we had with Sherville Patil the MD of Zidis group.
>> You guided high teens growth but lower margins. I mean what can go wrong? uh because in FY26 your margins were around 33% when it comes to AITA margins guiding a lower margin but a height in growth growth what can go wrong here >> thank you thank you for the uh compliments I think yes we have seen very strong uh FI26 and also ending the year quarter 4 on a very high uh EITA margins um I think you have to look at the EITA margins two ways if you remove the uh ERF contributions obviously we are around the 26% range in terms of a bitter margins but seeing a very strong exportdriven business obviously we see a meaningful foreign exchange gain so whenever we guide for the future margins we are obviously talking about net of foreign exchange gains uh so from that point of view we show we still believe that FI27 and going forward we'll see high double-digit growths on the revenue front which is industry beating uh in my view also this will be driven driven across the businesses and not by one or two businesses. So we'll see uh India business driving uh meaningfully higher growth than the IPM and double digits.
We would see international markets which last year grew at 40% continue to show that momentum uh and India and the US business which is was sitting on a high base on relement will also continue to see growth momentum in the coming years.
So all round performance we are guiding towards a 24% plus a bita margins uh which is still very strong uh and one of the better margins in the industry and we hope that going forward we will continue to improve on those margins >> right understood and you know Mr. Patel when it comes to North America you know uh you're expecting a singledigit growth of course despite FY26 high base uh is this a temporary phase or new normal when it comes to UX generics the singledigit growth guidance that you have given >> so you have to understand what has happened in the US business in the last 3 years we have meaningfully scaled up our US business with many uh launches on day one we we know that as an industry we had this opportunity on Rebelid uh for us and which has now gone away in this fourth quarter. So despite uh seeing that gap we uh have seen good growth in FI26 and going forward uh in FI27 we are still confident on a on a singledigit growth but if you take a three-year view we will see strong momentum and better growths in the US business but obviously we have to cover the the exclusivity law loss that we have seen on revelment and we we should be able to show that. So you know while people have been worried about degrowths in the US as Zidus we are confident of showing growth in this year and continue to improve on the double digit growth as we move forward >> right and also sir you know mira bigron we all know the competition when it comes to this drug mira how big is the revenue or margin risk for zidis as a whole >> so we have uh mira has been a good product for the organization we have had already had a settlement and we will see a three-player market probably until the next end of the next year. So, uh we have built into build in that scenario into the business and into our guidance and it will still remain a very uh good product for the company. But as I said, we continue to see very robust growth in the US with multiple launches. So, we expect 40 plus launches in this year. Uh we also continue to see that the base business continues to grow in share and volume. Uh so not only are we seeing good launches but also our established business products business also doing well and then the scale up of our 552 specialtity business the rare disease sentinel business which has become profitable now overall is aiding to the growth momentum for the organization >> understood and also Mr. capital you're you're you know pivoting from generics to specialtity I would say what percentage of your revenues or US revenues can come from specialtity in maybe you know next 3 to 5 years >> so yes uh a very important aspect of our growth not only in the US but also in other markets is going to be driven by our differentiated pipeline uh if you first start with India you know suglazad desustad are first launches of the bio similars all have meaningfully contributed to the business in fact the sum of molecule as a franchise has become now more than 500 crores in the market and with 30 40% growth I'm sure it'll cross the thousand cr very soon and we're seeing similar opportunities with desidat and other molecules as well uh in the US with the rare disease business scaling up the 55b2 business scaling up now uh in the next 3 years we see that maybe 30 to 40% of our future growths will be driven out of the specialtity differentiated pipeline not only for the US market but also for many of our other markets >> right and you know talking about the assertio acquisition that that you know you have recently done what's the revenue or margin potential for this platform and also you know I think Ralin has only 4% market share currently how fast can you scale Yes. So I think uh we have already built a supportive oncology marketing team and uh front- end teams in the in our business and we've launched BRE which is one of the drugs. Uh we have a one more filing that we have done on the 55 B2 which we hope we'll get to commercialize. So Rob will fit very well in with our specialty team that is already there commercializing the products. So we see very meaningful synergies with uh the acquisition. We still believe we'll be around the 4% 5% range only. We are not looking to expand it further at least in a base case scenario and uh assuming the base case scenario with the synergies we see it as an EPS accative business in this year itself. So it will be it'll add meaningfully to the business and also very high profitability.
>> Right. And Mr. Patel you know talking about the India business which was also strong I mean which uh which was also a stronger one the chronic mix if you see improved to 46% what's the next leg of mix improvement from here >> so we will continue to see uh better growths on the chronic segment uh we have added 200 to 400 basis point uh kind of 400 plus basis point improvement on chronic and that we'll see we still believe that we we will grow at least 200 to 400 basis points faster faster than the IPM. Uh we have demonstrated uh good growth in the last 8 to 10 quarters and we hope we continue to do so. It will be driven by our growth booster brands, our specialtity portfolio of our own pipeline of products that we have commercialized uh new launches and also sustained growth on our chronic portfolio. So all in all I think we will see that momentum continuing and uh uh with sarog glitter obviously leading uh in the front >> right and you know Mr. Patel bioimilars you know is the current hot topic after semaglutide currently uh when can this become a meaningful driver for zidis if you would you know help us with that also.
>> Yes. So I think it's been a very important part of our uh strategy and plans in India. We are now the largest bio similar player uh India's largest Indian oncology player with aided by the strong launches that we have done on monoconals on ADCs uh we are seeing uh very strong momentum for this business in India and we are you know if you look at the top two or three bio similar brands all our Zidis brands today uh so we we are seeing very strong traction on this uh similarly with our capabilities we are also internationalizing our business with many launches coming the next two to three years in different markets. Today we have 15 to 17 bio similars that we commercialize. I'm sure we'll only add to it going forward. In the US we licensed ranumab which we're launching very soon. Uh we have licensed pebrillum which is one of the largest drug molecules in the world.
Ketuda we believe we could be the first filer to this in the US uh very soon and we're very excited with that opportunity uh in the future uh obviously our acquisition of uh the assertio also brings in a monoconal antibbody sorry a biologicals for us uh with this uh differentiated GCSF so overall we are building a strong pipeline on on bio similars it will become it is already a meaningful business in India and scaled and larger just we believe we can replicate this in the next five years in the developed and the developing markets as well >> right and so lastly you know on to the semaglutide of course opportunity you claim to be to be having a second position when it comes to semaglutide I know this is very early but if you could also help us understand what's the current you know market share and any plans for oral you know semaglutide as well because number of companies are also coming up with So yes, it has been a very important and good launch uh on semaglutide. We have a novel formulation that we have launched which offers very significant patient ease and benefit and cost benefit as well. Uh also reduces the complexity of supply chain with multiple devices. Uh great start for us and also for our partners. uh if you look at the top five players, three of the brand uh three of the players are uh product companies which have Zidus product launched. Uh so very exciting times. We are live now and month of April the second in terms of the branded generics injectable market.
So we can hope to consolidate and continue to grow. We are seeing uh better visibility going forward with a very significant uptick in our expectations both from ourselves and our partners.
So it will become a meaningful product for the organization uh with the differentiation that has been created.
Yes, Oral also we will continue to look at it but oral has its own challenges on bioavailability also on terms of effectiveness of weight loss and other related issues. So I think it will be a segment but I think we are driving the injectable segment more strongly because that is where we believe maximum benefit to the patient exists.
>> Well that was the extensive chart coming in on Zidus uh life. Well shifting focus from Zidus life to another earnings uh related company that is team lease. Now a mixed set of numbers revenues declined on a sequential basis but margins were steady steady. Moreover, the company announced a buyback worth nearly 240 odd rupees. Let's get in the management Ramanihati, the CFO of team services to understand the way forward for the company. So firstly to start off with uh ma'am firstly to start off with for FI27 what is the outlook when it comes to headcount uh additions? Will it be positive?
>> Absolutely. So for FI27 uh we are very confident on maintaining a positive growth on the headcount while in Q1 between June July we are planning for transition of about 10,000 headcount in our staffing segment because these are very low margin mandates and there have been a drag on our margins and our focus excuse me so next year our focus is going to be a lot more on profit and margin expansion.
So in uh June July we'll be kind of transitioning that 10,000 headon but even net of that on a full year basis we should be growing uh with meaningful volume on the top >> right and uh when it comes to the general staffing business uh do you think that has bottomed out and BFSI hiring slowdown is largely now behind?
So BFSI slowness for us is largely driven by one large NBFC and now the hiring uh in BFSI segment also has been picking up. At the same time we are seeing a large uh new hiring happening in segments like retail, manufacturing, logistics and also broad-based across consumer segments.
Having said that, given the current geopolitical situation, global headwinds, so there is a little slowness in the hiring trends and to some extent in certain job roles, there is also an AI impact in the short term. Also, labor codes since many companies are going through their CTC restructuring and workforce planning in view of the labor codes. We have indicated that for the next one or two quarter there can be relatively lower hiring compared to last year H1 there can be relatively lower hiring but this is going to be just for one or two quarters is what our assessment is in line with the discussions that we are having with clients. Overall the uh outlook for next year in general staffing uh is a lot more focused on profit expansion. So on bottom on bottom line we are targeting a 20% growth while top line can be a singledigit uh uh low or medium singledigit growth mainly because of the fact that we are seeing more and more job positions coming in from tier 2 tier three places where average salaries are 30 40% lower than our current average salaries. Because of that the top line may growth may seem as if it's low but on bottom line we'll be adding a lot more mandates at higher realization more value added services and very targeted approach to high growth industries and higher profit pool clients. So coming to specialized staffing segment as we have called on the investor uh meeting yesterday. GCC segment for us is adding very good contribution both on top line as well as bottom line in our specialized segment and we believe that momentum will continue into FI27 as well.
>> Okay. and just wanted to understand from you on this uh the ongoing conflict in the Gulf region. Could that potentially slow down decision making on workforce ed addition? Anything on that front that you're seeing any trends that are emerging?
>> I will not be able to call out any uh particular impact coming from the Middle East trend because we uh have been going through multiple uh impacts and multiple headwinds coming from different directions. Uh having said that as far as sales roles are concerned we are seeing very strong hiring trend uh be it sales within retail or uh consumer durables or uh uh uh or or even the general overall all service industry sales we are seeing very strong uh demand for sales profiles. The other non-sale segment within few pockets like logistics is very strong uh or maybe even within manufacturing uh some pockets are very strong but pure play back office or calling activities customer service related kind of job roles is where we are seeing some level of stress but since 60% of our base is mainly into sales and in fact that's where our strength is we are taking sales staffing as a main offering to our clients.
>> Okay. When it comes to the other HR services that witness a significant margin expansion, AITA margin expansion uh to around 16.5%. Is that sustainable?
>> No, there is a seasonality in Q4 because especially within our edtech business, a lot more invoices or billing happens uh in the months of Feb and March to the universities. But on a full year basis we should be able to maintain 8 to 10% of EIA margin for FI27 within HR services. Q4 will always be higher. Even FI27 Q4 will have 20% 16 to 20% of EIA margin. Full year would be 8 to 10%.
>> Uh and one question on the buyback. Uh I believe you are giving around 40% of your net cash uh to investors via this buyback. And also correct me if I'm wrong here. uh I believe there's a net TDS receivable of around 246 cr from the income tax. So if that comes in say in this year uh could there be a special dividend as well going forward?
The board will be evaluating on the dividend option but uh um as per the regulation we have to maintain a gap of at least 6 months uh between the buyback and the dividend but you are right we are expecting some more tax refunds to come in uh in FI27 also our cash conversion on AITA is very high like our earnings quality is very high so even though we are going to use 40% of our existing free cash for buyback we believe by end of FI27 like by March April 2027 we should be back to again 500 500 to 550 cr of free cash. Well thank you ma'am thank you for joining us and giving us the way forward for team strong management commentary coming in from team le both on financial operations and also on cash generation.
Moving on the Adani group is advancing its resolution plan with the JP group acquiring key power and logistic assets.
Shard is joining us with all the developments that have happened.
>> Well, yes, important implementation coming in with Adani group and the JP group as well. First announcement for Adani power, two important acquisitions, the acquisition of 180 megawatt thermal power plant which is located in Uttar Pradesh for almost 1,200 cr rupees and secondly an acquisition of other related assets and almost 11 12% in Priagra power generation company. also another acquisition of 24% in J Prakash power ventures which is coming in at almost 3,000 odd cr rupees. Now why this is important because the company is having three power plants and aggregate capacities more than 2,000 megawatt and 2 million tons peranom of cement grinding unit and a coal mine is also included. Apart from this, Adani ports is also in focus and because the reason is that they're acquiring 100% stake in JP groups Kpur fertilizer and chemicals and the largely the deal will be at 1,500 cr rupees and remember more than the company itself. It's the land almost 243 acres of land is there in Kur and it is strategically important especially for the logistics park and the warehousing facilities that will augur well for Adani ports also. This will further consolidate the company's inland logistics presence and service more capabilities in northern India and it will also expand its network the ML MMLP network from 12 to 16 and the warehousing capacity by almost four times by the year 2031. So this aers well for both the Adani group stocks.
Thank you Shahhat on that. Well shifting focus to indie cube spaces. Now if you look at the company's numbers the AITA did expand on a sequential basis but so did the company's net loss from 17 cr it increased to I believe 23 cr in the fourth quarter of FI26 to give us most more clarification on the Rishiidas the company's founder is joining us sir firstly to start off with uh yes you have uh your AITA has expanded on a sequential basis but do so did your net loss by when do you expect to break even on the profitability Yeah, thank you. Uh so uh I think uh what loss we are talking about is on on the account of accounting standard ins if you look at our PAT for the year that got over our PAT has been 125 crores and we have paid an income tax of 21 crores.
Uh so accounting standard which is Indas in this case is where uh basically the leases that we have are capitalized and then they are advertised. As a result, you are seeing an exceptionally high AIA in the India's accounting standard and uh even in spite of that you see a loss.
Uh so the right way to look at uh the the P&L is uh the IGAP accounting standard and uh there compared to last year where our PAT was 51 crores. This year our PAT has been 125 crores and AIA is 3001 cr and this has grown compared to last year by 60%. and top line has been uh 1469 crores an increase of 37% over last year.
>> Well, thank you sir for that clarification. Now coming on the coming on to the seat addition part. I believe for FI26 you had given a guidance of 33 to 35,000 but you did around 28,000. So why did this miss happen firstly and then what is your FI27 outlook for seat additions?
Yeah. So seat uh typically of course like there are some exits that happen in the business and this is the net seat addition uh that you are seeing and some of it has got shifted to the Q1 of this year compared to the last year that's where you are seeing the dip and if you look at like our uh uh our area that we have we have at the end of the year 6.6 6 million square ft of uh 6.3 million square ft of rent yielding area where we have lease two clients and we have a total space availability of AUM of 9.66 million. So we have a good 3.3 million which is 50% of our current space available for growth and we see that uh some of these supplies are signed up which will be delivered over the year or some of them may go even to the next year. uh so we are very confident that we should be able to have a 25 to 27% uh uh revenue growth uh uh uh uh in the in this year uh and al along with that our unit economics the metrics the the steady state occupancy margins pat margins and all that should remain range bound >> okay uh and if you could just give us some idea on what are the kind of demand trends that we are witnessing from uh GCC startups and enterprise clients in the managed workspace segment.
>> Yeah. So 55% of our revenue is coming from global capability sectors. Uh so so they definitely are leading the pack and uh and after that we have the IT services companies and these are like the technology guys uh with a lot of focus from midcap companies followed by a lot of unicorns late startups uh post IPO startups which form the other picture. So broadly our our space uptake is divided into these three buckets and typically the GCCs are growing very very fast and they continue to grow. Also we are noticing uh that there is a lot of diversity in the GCC flow that is coming in. GCCs are no longer coming just from North America. They are coming from even Asia, Europe. Uh and they are not confined just to retail or BFSI. We are seeing a lot of GCC's in the area of healthcare, manufacturing, logistics uh also getting uh uh coming in over there.
So overall it has been quite robust and the uptake of real estate if you see last calendar year has been 82 million square ft. Bangalore has contributed about 30 million square ft out of that.
our industry the flex industry has been 23 to 25% uh of the overall uh uh space uptake uh over there and even the Q1 uh calendar year numbers Jan Feb March have been very very encouraging uh typically about 20 million square ft of space has been picked up uh just in the Jan Feb March time frame as well so overall we see very robust uptake uh GCC leading the show followed by the midcap IT services and then the Indian startups and all >> right when you look at the value added services the contribution has increased steadily what we are seeing do you see this value added services becoming a meaningful margin driver over the medium-term >> uh so as you rightly highlighted vulated services was contributing 12% now this year it has been 15 and we see over the period of 12 to 24 months is going to 20%. And uh uh because our philosophy from the beginning has been that uh whatever B2B and B2C services companies require to run their office operations, we should be providing them the entire spectrum and I think at one level they are liking it. So for example, somebody has taken two offices from us in INDQ and if they have 10 offices across India, they are expecting us to also provide services, manage stuff in the other eight locations. Uh so so a lot of growth is coming from not just the NDQ building. is going beyond indie cube as well and all these services are new additions. So from a margin point of view if you see we have most of the services margins between 10 to 15%.
Which is lower than uh typically our 18 20% AITA margin uh uh uh for the our regular uh office space uh managed office space business over there. But we see that over a period of next couple of years as these services will stabilize typically we should be able to see healthy margins in this.
>> And lastly sir if you could just give us some idea on which cities or micro markets are currently witnessing the strongest traction when it comes to managed office uh demand.
>> Uh these are usual suspects I will say like for example the good performing market where the occupancy is north of 90%. uh kind of market. For example, Outer Ring Road in Bangalore or if you look at locations like Puram Mangala, Chasar over here or if you look at Gindi in Chennai, OMR zone one uh over there or if you talk about uh golf course road in Gura those are the I will say the best performing markets uh typically and they because the availability of real estate is quite limited over there. uh we see that they will continue to do well sir and we have like about 75 80% of our presence in these micro markets >> right well thank you sir thank you for joining us and giving us the way forward for Indie cube that was the management quite optimistic on FI27 growth plans well that's all we have on the show today stay tuned and keep watching any TV profit Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
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Hello and welcome to NDTV profit. You're watching trending stocks with me Hal Data and Sharat Dubai who's standing at the profit pit with all the action in the markets today. uh Shhat interesting day of trade the kind of reactions that we are seeing to earnings uh which is absolutely stock specific is also very strong and the recovery that has come in the range though is slightly narrow what are you picking up so far >> well uh that's right good afternoon Hala there is a little bit of divergence at play uh Nifty interestingly was in a range but now it's near the day low level there seems to be a minor sell off happening but remember there was a gap up opening the technical technical strength was looking decent over the last two trading sessions, but we'll come to that. Nifty Bank, let's see what's happening here. There was a divergence I had mentioned earlier.
Let's just pull out the Nifty Bank's intraday chart and the sell-off has intensified. We at the days low level for Nifty Bank. So, overall, the technical setup for Nifty Bank is still slightly weak than Nifty, but it's largely rangebound. If you're a medium-term trader, you could talk about, but what are the key factors to watch out for? And remember, important thing is there is a Sensex expiry at play as well. But nevertheless, let's just pull out the other factors also why it's important to track and interestingly the key support levels for both Nifty and Nifty Bank. There seems to be a little bit of you know numbers movement here. Technical setup has improved for the last two trading sessions. So nevertheless it's still in the red right now. Also let's see the other key important reason and remember there's a Sensex expiry at play also.
Smids you talk about it they are outperforming the benchmark indices. If you could focus on the midcap and the small cap indices. Nifty support between 23,600 to 700. So it's a very important level to watch out for. I've given a very short range because there's a volatility at play. Nifty banks technical setup is weaker as we had mentioned earlier as compared to Nifty.
And of course looking at the sectors where the action is happening. There is telecom, capital goods for second straight day. Good momentum and industrials also. So good volume based buying continues in these sectors also.
Apart from this uh the rupee that has strengthened and yields have cooled off.
So this is a positive factor for the markets. Maybe that's the reason why it was showing a good gap up as well. And earnings that's where the focus is happening. ITC it's largely flat right now ahead of earnings. Max Health and LIC are also in the green and their important Q4 earnings still come in today. So despite the volatility here in the indices, small cap, midcap as well as a Q4 earnings stocks focus is something which we are tracking right now.
>> Absolutely interesting names that will be reporting numbers in today's day of trade. But on the watch list, Honeywell profit surges, margins expand, strong numbers there. Saman as well on the back of the guidance for FI27 that stock is up in trade. Apollo hospitals, it's the hospital volume business that has aided growth. IGI the certification revenues have gone up. Uh Jubilian restaurants also is in focus on the back of a week Q4. Bosch, Ola, Protein, EGAV, Satwake, EPAC all of them have been reacting to numbers as well. Grassim uh they will be getting 3,970 odd Kores from Ultr Techch. Along with that you have OMC's which are in focus on the back of the crude price fall. Angel one also that is in focus that stock has hit a 52- week high. Orurupindo is in focus ahead of the Q4 numbers and trading at a 52- week high as well and Seammens also at a 52- week high. So interesting names on our watch list today. But Shhat over to you to take the rapid fire uh you know with Ajit Mishra.
>> Well thanks a lot for that. Good afternoon Ajit. It's always a pleasure to have you. We'll start our rapid fire segment and first talk is Honeywell Automation. Just wanted to get your views on it. Any good momentum coming in here?
Yeah, good afternoon. Good afternoon.
So, yes means after this corrective phase from its record high from 58,000 into this 28,000 range. Today we are seeing that the stock is up and buzzing means the volume uh is almost like uh you know has crossed the average volume big time and the stock has also reclaimed the long-term averages. So possibly a close above 33,000 is going to help the stock to inch further higher towards 38,000 plus zone. So in case if you have any position existing position you can continue to stay put with 32,000 as a stop. Right Ajit Juben Food Works a very weak set of numbers and we are seeing a good selloff happening in this counter. Is there any kind of a value emerging in this stock technically speaking or do you think there's a further fall here and if there is a further fall any stop- losses to track?
Uh so Sh the correction uh has been almost like you know one and a half year long means after retesting the previous swing highs closed around 780 mark the stock has been gradually drifting lower and uh we are currently trading closer to the previous swing lows uh this area from where last time also we witnessed a rebound close around 400 410 levels. So uh after this retest we believe that a possibility of uh like you know consolidation is high uh but upside also seems capped. So broadly rangebound bias is something which is expected in the near future. So avoid any fresh position existing position your stop should be at 410 right and market seems to not like the numbers from Bosch and also the commentary was not that good. There was a recent con call today itself earlier in the day but uh any important levels to track for Bosch I know it's a bit expensive company when it comes to retail but if any levels to track here uh so Bosch has in fact breached this major averages today and where we close is going to be important means 35 600 800 is a zone basically where we have the multiple supports in case if it fails to hold then probably we are set for the next leg of a decline towards 33,000 33,500 levels so in is uh having any long position, you may consider uh reducing your position right away.
>> Right. And uh your views for Ola Electric weak set of numbers coming in.
Any important support levels have been broken here?
>> Uh not yet. Uh in fact, we are hovering in this band tied band 34 38 for almost 2 3 weeks now. So either side break is going to trigger the next move. As of now, it's more of consolidation bias which we are seeing in Ola.
>> Right. Another stock in focus is protein ego. Of course, a trade cannot be made.
It's in an upper circuit of 20%. But do you think there is a value buying momentum at play? Because from last year's highs, the stock is still down more than 50%. So just wanted to get your views now on you know is there a more up move in this stock? What are the monthly charts suggesting?
Uh so a possible uh like you know attempt of short-term recovery but it's not a reversal yet cuz we are still trading to the long-term averages. So close around 72025 will be the next major test for the stock. So as of now yes you can continue to stay put for the momentum play with 610 uh since it's high beta counter with that as a stop loss in case you are comfortable you can continue to stay put right another stock M plus health your views on it any levels to track here >> uh med plus we are retesting the previous swing highs but volumes are not very encouraging so I would rather suggest to reduce your position if you have any >> and a very volatile pack I'm talking about OMC's is there any stocks in the OMC pack where you think there is a trade to be made?
>> Uh OMC we are definitely seeing a wristbite or a rebound attempt but uh they not completely out of wood. So I would rather wait and see whether they manage to hold around the current areas or not. Uh then probably one can consider in case if you have any existing position you may continue to stay put with the recent swing lows as a stop. Uh but upside is also capped. to roughly around 3 to 4% kind of a rebound may result in a retest of the long-term averages in most of these OMC. So around that area they may consider reducing their position.
>> Right? Three stocks are there. They have been doing really well on the positional setup especially Angel one we have Orurabindu Pharma and Simmons Energy.
Three stocks in focus. Out of these three stocks is there any recommendation to book profits? They seem to have run up as well. Um especially Simmons Energy and Angel One. Out of these three stocks any view on that they have hit 52 week high as well.
>> Right. uh in fact sat a disclosure that we have recommended fresh buying in angel one to our clients also means it's almost like one and a half year of consolidation which is finally ending so we expect this momentum to further carry Oroarma is also retesting its record highs but the pharma and healthcare basket we are still bullish so we anticipate this overall positive tone to continue and simmons also like after this uh recovery we still find a potential of further up move so all three counters are hold but Yeah, do maintain uh uh trading stop losses on rise.
>> Interesting. So all three counters it's a hold. So that's the end of the rapid fire round. Uh thanks Ajit for that. But uh Hal, what are your Google trending stocks suggesting?
>> Okay, thank you so much for that Shared.
In terms of Google Trends, let's pull up you know what's actually right there because a couple of names that have been doing the rounds over the last couple of days. Barat Forge continues to be there.
Tech Mahindra continues to be there. You have hindalo at clin info zidis wellness that has come on the radar right now. Uh Ajit anything that you like from these names?
>> Uh so hindalo definitely cause uh postalis update we are seeing that stock has been uh maintaining this positive tone. Today we made a new record high and overall we are bullish when it comes to their metal pack. So uh in case if somebody is looking for any fresh position any dip towards,70,60 area is a good opportunity to go long in in Dalco. Uh,25 should be your stop area and since we are at the record highs the upside is open. Uh but basis this risk-to-reward ratio close to around 1170 1180 is something that one can maintain as a target. Then we have bhat forge also wherein we are seeing consistent uptrend. Uh consolidation is likely in the near future. So accumulation is something which is recommended not to go all in. Uh in this range of around 1850 to 1900 is something that you can accumulate with 1,800 as a stop and 2,000 as a positional target.
Okay. So that's with regards to uh stocks which are trending on Google.
Thank you so much uh for joining in Ajit. Always a pleasure to speak to you as well. Now moving on. Cosmopolast delivers a strong Q4 robust revenue and EITA growth. High volumes is what you've seen. uh specialtity products is something which is improving and the film margins have improved as well. The stock however trading at the day's lowest levels right now but still trading in the positive 1 and a half% up move coming in there. Joining us is Pankage Podar group CEO at Cosmo. First uh Pankage welcome to the show always a pleasure to speak to you as well. Uh my question coming to you is you know the question with the industry that you're in right now more than the earnings its you know sentiment its strategy it's impact of West Asia crisis on the raw materials that everyone wants to really talk about. So before we get into nitty-g gritties uh what is the situation right now?
>> Yes. So I would say that you know we come under the larger basket of plastics uh when it comes to our film business and uh uh you know segment by segment uh there are uh uh different demand supply situations uh we are sitting in industry which is very food oriented and therefore the demand continues to remain bullish across the globe. In fact, what it is helping us is that we are able to scale up our exports very handsomely during this period because uh Middle East you know which is a very large exporter for films they are not able to export and on the raw material side given that uh some other sectors are not doing so well. So you know the raw material situation is fairly comfortable for us. Uh while at the same time in the export market there is demand and now what we are also seeing at the domestic demand is picking up uh in this month.
Okay. So, uh Okay. So, what is the raw material impact that you're seeing if you can quantify that for us?
>> So, uh you know, the raw material went up very significantly from mid-March month. U you know almost by 50 rupees in one go. So all the prochemical companies they increase the pricing. U you know I would say March was the peak and since then has been falling gradually. It still remains at a very high level because prior to this war our raw material index was close to $950. Uh while it is right now at $1350 it is still $400 higher than uh what it used to be. Uh but then in general last 3 4 weeks we are seeing that the raw material prices are uh gradually coming down and they should come down. They should normalize obviously uh they may not normalize fully until the end of the war or maybe 2 3 months beyond that. uh but in general because uh the demands globally are uh to somewhat extent impacted uh for certain sectors. So we are seeing that the overall polymer prices are coming down now.
>> Right. Uh Pankage of course the pricing trends is there but there's definitely a lag also when it comes to your raw material cost. Any kind of price hikes you going to take going ahead? Is there a one or two quarter lag in it? Just wanted to understand the industry perspective from you.
You see industry uh the price passes fairly fast unless you have contracts.
Cosmo does have contracts with many customers globally. So for such customers you know there is either a one month lag or you know with some customers there's a quarterly lag also.
But otherwise in general the industry passes on the price increases or decreases fairly fast. uh domestic pricing went up very significantly in March month and then they came down also you know April and mid May till mid May it remained low but what we are seeing is that now again in the May month they are going up however as Cosmo we are very export focused close to 23 of our sales are exports and where uh we see a larger opportunity because globally you know there are shortages especially in the uh certain regions of the world more in the western side where there shortages because of Middle East crisis.
Uh so we have been able to take the advantage of those and uh also increase our exports. We normally do around uh 50 55% exports and this period we have been able to take it up to 23 of our sales.
>> Uh Panka, another question is on your pet sector. There was an initiative which your company had taken around 18 to 20 months ago and of course this pet industry is having a lot of tailwinds as well in India. What's the growth and development happening for that arm?
You see for us polyester you know we basically went into this to uh develop products alongside BOPP which are very related you know with the BOP as such.
Uh polyester industry as you rightly pointed out last 3 years has been very difficult for the industry um you know especially from the time that we uh started this business. Uh having said that we have been consistently making efforts to increase our uh specialtity business in polyester. We are already now close to 25% of our polyester sales into specialtity and we are very you know very confident that we'll be able to take it to 40 to 50% within this year. uh because a lot of our products have got lot of confidence from customers uh whether these are in label segments or in certain other uh lamination other specialtity segments that we deal with.
uh pangage what about uh you know exports as well because US tariffs there were concerns initially uh you were looking at renegotiating prices so what's the uh you know path on that front and exports is a part of the strategy where is it fitting in now >> so see uncertainty is the name of the game uh I think for all the CEOs the biggest challenge is to maintain this manage this uh volatility and uncertainty that is going around in the world. So, US last year yes the duties all of a sudden came 50% and we had to go and negotiate. The good news is that we did not lose any customer. Uh most of the customers we were able to recover majority of the duties. There was certainly an impact the annualized impact for us was close to uh 50 to 60 crores. uh but now the good news is that uh first the duty got reduced to 10% and now what we are hearing is that uh not the supreme court but one level lower uh they uh the court has said that even 10% is no more valid so if at all we go back to 5% that's a very good news for cosmo and the other good thing is that you know all our customers have appreciated the way we have reacted to the whole situation uh now customers want to even do more business with us in fact in last 3 months we are seeing a very significant surge in our US business overall.
>> Okay. So, uh I mean yes uncertainty is the key and everyone is just taking it by the chin to understand what happens next. But thank you so much for joining in. Always a pleasure pankage to speak to you and get insights as well. So that's the management of Cosmo first as well. Uh but moving on you know overall if you see in terms of a markets go uh let's just once quickly pull up the contributors to Nifty50 because I just want to see what is it that is taking markets lower right now uh you have names like RIL that is one of the top contributors followed by Bajach Finance Infosys Eminem what's holding up is aggressive obviously on the back of earnings indigo is also very interesting but not contributing uh to that extent so clearly uh there is that push and pull that tug of for that has continued.
Uh let's get in Sonam Shivas the founder and CEO at right research. Sonam, welcome to the show. Always a pleasure.
Uh you know anything that you would want to add with regards to a name like Cosmo first if you're tracking that because uh it is a company with the reliance that they have on the supply side a lot of impact from a margin perspective but obviously there is no clarity uh going ahead as well. your views, >> right? See, I think u you know as as the gentleman was saying that the results sort of have been encouraging and you can see that uh price movement on back of that, right? Um you know I think I think you know I like the segment that they are in which is the packaging space. you can see a lot of movement happening uh in this particular sector and yeah I think uh I think the results have been slightly mixed but but you know I think it's a positive stock to look at from these levels >> okay so that's with regards to Cosmo first but moving on amid PM Modi's austerity call in consecutive hike in fuel prices EV makers are saying that the green segment is seeing a record demand in fact Tata Motors PV JSWMG all are telling NTV profits Danish Anand that customers are looking at affordable alternatives. Uh let's go across to Danish for more. Danish uh good afternoon. What do you have for us?
>> Good afternoon. Well, that's correct.
JWMG motor and Tata Motors passenger vehicles have exclusively told NDTV profit that especially from the past few weeks there is a greater demand for EVs that these companies are seeing. First talking about Tata Motors especially Tata Motors is seeing an increase in the footer in the walk-ins as well as you know inquiries for electric vehicles that Tata Motors manufactures. Besides that, they're also seeing a high you know jump in bookings for EVs. On the other hand, if we talk about JSWMG Motor India, they they have seen a 23% jump in uh you know in bookings for EVs, if we compare January to February 2025 and March till April 2020 is fixed. So we are seeing a great demand for EVs and one of the factors why there's a great demand is obviously the rising fuel prices that we have seen over the past two weeks. Besides that P and Narendra Modi had also given a you know suggestion to the public to use EVs and especially after these two big drivers we seeing that they're seeing more and more demand for EVs very largely and MG Motor India is of the view that the EV penetration of E the EV penetration will increase to 8% by the end of this year.
All in all, if we see in the backdrop of the West Asia crisis, electric vehicle companies are seeing greater demand for vehicles.
>> Okay. So that's with regards to where EV demand goes. Uh Sonam, how are you looking at the EV players because the guidance in terms of FI27 for the passenger vehicle uh space is very strong. Yes, there could be supply chain constraints that everyone is staring at.
And now you have the EV push that comes in. uh if you have to do a oneplus 1 on the guidance that the company has given the EV demand that is coming in uh what would your topics be? Uh so on the EV space uh you know I think I think the sector definitely has been interesting even before the push happened uh you know the Iran war has shown us that diversification from crude is extremely important and what you can see is a lot of uh uh you know EV ancillaries companies that are involved in the in making of the components of EVs. I think I like a few of them right and we we actually have bought a number of small and medium uh stocks in that space and I think that's where you're seeing a lot of movement on the PV space you know I think on the auto segment we've seen a lot of bullishness on the segment itself but uh but there's been some consolidation in the recent times but yeah I think the auto ancillaries EV ancillaries right EV component industry is something that we like a lot >> right so Sonum says EV ancillary is the pick. But another stock in focus is San Capital. Numbers came but of course take things with a pinch of salt because a lot of one-offs were there but it seems like there's a new page turning you know in the chapter of Saman capital and what is that and decode that we are joined in by Shivam. Hi Shivam.
>> Hi. Uh so the first uh major highlight in the Saman capital result was that the legacy book that has been seeing us multiple uh stress and also that was uh that involved lower quality of loans that has been fully closed now and the exceptional items that uh uh in included in this quarter was that the uh board of uh the company has approved a change in the business model due to which the company has identified 14,953 crores of non-cor non-core loans which were included and uh the accounting method for this will change. So the company is strategically shifting towards a higher retail asset mix in its loan book. So this has resulted in a uh loss of around 8,100 odd kores uh in this quarter. Now uh the company has also said that uh there will be no incremental net provisions required for this and the G&P and NNP of the company stands at 0% uh each also the company has given a strong guidance for FI 27 and uh 2030. Al also uh the AUM targeted for FI30 stands at 1 lakh 94,000 crores and the return on asset that is targeted at 4.4% and NIMS at 8.1%.
>> Thanks a lot Shivam for that interesting take coming in but Sonam just wanted to get your views also legacy book is off new book is on so you wanted to take your views on Saman capital and its future prospects.
Yeah, I think the uh the earnings were interesting. The one-off definitely had a impact but despite that you know if if you remove the one-off component the earnings were strong and you know that's what is reflecting on the share price today. It is seeing you know almost a 10% rally in the particular stock. Um yeah so I think I think u I would have like a moderate sort of view on this particular stock and yeah I think I think like you said uh there are a lot of positives that are coming in right >> the best earnings today is sansera engineering a very strong set of numbers coming in we had pointed out earlier as well but to decode what has actually happened and outlook ahead we are joined in by punit punit is tracking the sector diligently punit what's the buzz for this >> well it's a 50% eida growth in quarter all organic and it's a very strong set of numbers for the company. So revenue is up 28%. Aida is also up 52% in this quarter with net profit doubling to 121 crores. Uh the other aspect that you know there's been a 71% growth in the non-auto business. So this uh includes aerospace semiconductors as well as defense for the company and they've given strong guidance as well. So overall order book stood at 1,900 crores for the company at the end of quarter 4.
They've also increased uh the outlook for ADS segment which is aerospace defense and semicon. The order book for that is 4,400 crores over the next 5 years. And uh they've also mentioned specifically that the guidance for the ADS segment is now at 550 to 600 crores versus 409 crores they did in the last year. So it's just stellar numbers across the board and across segments for for sans this quarter.
>> That's a pretty interesting take. But Punit also one more earnings EP pack you know is durable is in focus lot of uh you know commotion in the con call what is the entire detail about it well it's a very weak set of numbers for the company they had expected for FI26 that uh there will be flat growth but they've actually reported a 13% decline because quarter 4 was very weak as well and uh that's reflective in the numbers the AIDA is up down 64% for the company and net profit is just at about 20 lakhs versus 37 cr so it's been a wash out quarter. Uh when you look at this uh AC business that's down 25% in quarter 4 and that's leading to the pressure on the company. Uh in the corn call there was a lot of conversation about the growth looking forward while they've not given a number expecting the industry to go by 12 to 15% yet again but seems to be a very weak picture of the streets not having it at this point of time.
>> Thanks a lot Pune for that. Of course a little bit of problems in the EMS space good correction also from their highs.
uh son I just want to get your views on it. We discussed two stocks Saman capital as well as impact durables out here just to look at comparing both of them. Which is something which you would like to pick and why?
>> Uh so they see they are both pretty uh you know unrelated sort of segments. I think Saman capital definitely has given you a good set of numbers. E-PAC uh like you said um I mean there's been uh you know revenue decline on the AC segment and you know that's having a sentimental hit and and the EMS pack definitely the RAC pack has been on a decline I think um and I think this a forecast of monsoon coming soon I think I think that could also have a negative impact so I might prefer Saman capital at this point in time >> right so preferences for Saman capital pretty much interesting thanks a lot Sonam for joining us and giving your views It's always a pleasure to have you at NDTV Profit. Well folks, right now we are out of time. That's all folks for the show from me, Hil and the entire team who have put together trending stocks. Keep watching NDTV Profit.
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Economy, business, world, technology, noise filtered, numbers decoded inside benchmarks trade under pressure with Nifty and Sensex hovering close to the day's lowest point. IT financial services were the top sectoral lagards realy energy remain resilient amid a stalemate, repeated threats and deal hopes. US President Trump says he could wait for Iran's response a little longer if the Iran comes back with an agreeable deal, adding that the talks were in the final stages.
Meanwhile, global tech major Nvidia reports a record quarterly revenue of $81.6 billion, beating Wall Street estimates backed by strong AI global demand and robust revenue growth in the data center segment.
The Reserve Bank will conduct a $5 billion rupee buy and sell swap auction on May 26 to infuse long-term liquidity in the banking system and boost its foreign exchange stockpile.
Meanwhile, India's EV momentum seems to be picking up speed as rising fuel prices drive consumers toward electric mobility. Tata Motors tells your channel that inquiries and bookings have accelerated in recent weeks while Mahindra and Mahindra as well as DSWMG India echo the same sentiment.
And on to Jubilant Food Works that is under pressure down as much as 8% after brokerage firm HSBC downgraded the counter while Jeffre sharply cut its price target as well in response to its fourth quarter results which were quite weak.
Good afternoon. You're watching Lunchtime Trades with me, Shrianti Singh. And this is the show that gets you a roundup of everything that is happening in the world of commodities, news and updates as well on the top buzzers at this hour, all while you grab lunch. But before we do that, let's take a very quick look at the markets. And whether you talk about Sensex or Nifty, you're looking at the day low really reflecting through just very close to days low. That's nifty for you. But even when you talk about Sensex as well, similar levels is something that you're looking at right now. When you talk about the sectoral picture though that's quite mixed at this moment. So you do have Nifty Bank, Nifty Financial Services, IT, FMCG, media, rural, all of those sectors trading with a downtick.
What's holding up quite resilient is perhaps realy, energy, auto, pharma, all of those indices doing a little better than the others right now as we speak.
But that said, let's quickly take a look at some of the gainers and losers from within the nifty50 pack. And you're looking at something like a grassim industries that's in focus right now on the back of Jeff and City also maintaining a buyer and that's after a strong performance marginled growth as well in the chemical segment and executionled growth in paint. So that's grassim top gainer in the nifty50 right now 4.8% uptick coming in. What's also doing quite well for itself is the polaro hospitals also up on the back of solid performance right now. So some of those counters the likes of Interglobe Aviations, Bajage Automax Healthcare and HDFC Life also buzzing away in trade right now from within the Nifty50 pack.
What's not doing quite well is something like a Bajage Finance Quality Wall Street Finance and even Kotak Bank as well as HQL and Nestle India. Some of those consumption companies also trading with a little bit of a downtick and even heavyweight Reliance is also adding to a little bit of pressure right now with that close to 910% decline also coming in for something like Reliance Industries. That said, let's also move on and take a very quick look at the entire uh commodity pack as well that's very much in focus. You know, you do have gold that's held steady. Let's quickly take a look at the kind of momentum that we have on that on the commodities and then we'll get you some more updates. In the meantime, when you take a look at gold that's holding steady, in fact, Middle East optimism is something that's cooling. You do have that aggressive rate hike expectation that you're looking at. That's also in focus. Oil volatility of course we'll talk about that also in just a bit but just when you talk about the triggers also coming in for gold prices you do have the dollar weakness that really seems to be supported supporting bullion despite geopolitical uncertainty treasury yields also retreating a tad bit aiding non-yielding gold prices as well and you do have the hormos reopening hopes that are really really easing the global inflation concerns lower rate expectations turning supportive when it comes to bullion gold is remaining hostage right now to some of your shifting geopolitical rhetoric and other than that you do have bullion also declining despite persistent Middle East tensions. Quickly taking a look at oil before we get you some more insights. Crude remains elevated despite some of those easing war fears and you do have the hopes of hormones reopening that seem to be capping the gains. When you talk about prices right now you do have US WTI under a little bit of pressure. So somewhere close to $100 a barrel is where it's hovering close to.
Now when you talk about Brent seems to have strengthened just a bit but with that in mind let's also move on and get you the word coming in from AJ Kadia who's joining us on the show right now and is going to be getting us all of those insights. Thank you so much Mr. Kadia for taking time out and joining us this afternoon. You know it's very interesting in terms of the setup that you are looking at when it comes to oil prices seem to have strengthened just a little bit. What are the cues that you're looking at?
So very good afternoon and as last time I have suggested that we don't expect any much weakness in crude oil prices.
No doubt in last couple of days the talk between uh we can say US and Iran is been not yet mutilized. However there was multiple statement from Donald Trump that serious talks have been going on but we still about 20 which makes that uncertainty still prevailing. We have seen dollar index has little bit retest to the level of 99 but currently it's around 9930 which currently shows that uncertainty still prevail spread between WTI and brand is still above $6 which suggest uncertainty still prevail in the market. We expect unless and until $100 mark doesn't break and hold for Brent we are expecting again a bounce towards 112 to 115. So I think there will be a jerk nearby but overall still crude seems to be very strong. Absolutely and that makes perfect sense in terms of how you're looking at it. Also just wanted to try and understand what you think about the prolonged disruption as well and there's the damage to the oil infra that you know we've been looking at against that entire backdrop. Do you think that the lower level for Brent prices or even for WTI for that matter that seems to have been revised and you can expect a little bit of uh you know strength going forward as well.
I think the strength or we can say prices should continue to hold in current level only. See there is a two different story. One is Russia Ukraine in 2020 was a different scenario where we have seen disturbance was there we have seen $130 and again prices came back to the level of 60 but state of hormone is a location which contribute around 20% of global oil supply. If suppose today war end also then also the energy infrastructure that has been damaged that will take time to reinstate everything. So I think uh it will take at least uh 3 to four months to things should be settled down. So maybe by June we can see prices should be on elevated level but post June July as things uh can be settled down. We may see prices getting a support at 75 to $80 not below that what we have seen around 56 58 or 60 level mark because uh damages has been already been done. Demand also we have seen manufacturing numbers are slightly positive but overall contraction has been seen in China and other economy. I think uh maybe for next 1 month prices would be on elevated but slowly and steadily it should come down but there is a high chances that we can see a new high because the demand from Iran or negotiation point from US are not at all matching each other. So I am more bullish in short period maybe 120 plus can be seen for brand but yes by November December we can settle down near $75 to $80 for brand crude oil prices. No, absolutely. And thank you so much for helping us out with all of those price levels as well. So that should really put into context exactly how you should be looking at prices as well. I just also quickly wanted to try and understand what you think about gold prices as well going forward. Are there any levels that you're really watching out for and what kind of price movement do you then be expecting at this point in time?
>> I think gold is slowly and steadily grapping the bare market because we have seen 5600 as a top then 5,400 4900. So technically it's a lower high pattern and with the breach of 4500 level that uh that opens the door for 4100 level mark. Major concern would be the inflation because recent fed minutes has clearly shown that with the inflation at 3.8 it won't be possible for a rate cut or rate pause. High possibility of 40% possibility is there for rate hike and that will be denting the demand. It will be a short period because we have seen in 2020 to 2008 also whenever this type of global pandemic or global event comes initially gold prices dropped though I am expecting a drop to the level of 4100 4150 as of now for gold unless and until prices doesn't go beyond 4800 level for time being looking to the fundamental I think even there is a story yesterday going on that Russia central bank has again liquidated some part of gold so I think panic situation has been there.
Selling may increase in coming days for gold.
>> Absolutely. That's about what has happened and what could really happen in the near term as well. But Mr. Kadia, you know, when you talk about the second half of any year historically, that seems to be uh spelling out a little bit of strength when it comes to gold prices also coincides with a lot of festive buying, a lot of wedding related buying.
So against that entire backdrop, what are you then expecting for prices if somebody's looking at fresh buyers right now? Be it through ETFs or through physical gold market, what should they be doing? Waiting for the dust to settle a little bit.
>> I think one should wait because see for India things are not so much clear because with the rising crude oil prices or energy cost, we have already seen rupee has depreciated to the lifetime low and continuously going to on that level. Secondly, the monsoon factor is going to be again negative because our whole good demand is from the rural India. If suppose monsoon stress would be then definitely it will impact. So overall we expect one should wait high import duty has already been leved. Now we are with a 9% duty hike it is around 15%, rupee has depreciated more than 15%. We are costier by 24% as compared to international market. I think a level like 1 lakh 25,000 1 lakh 30,000 could be the best price or fair price to buy gold for long-term period whereas silver will be more volatile because industrial demand what we have seen last year is been slightly slight settling down because of energy cost has been quite high a level like 2 lakh 20,000 2 lakh 15,000 could be a fair price on domestic domestic market where one should look for buying for festive demand or for apicious buying or for regional buying No, absolutely and thank you so much for pointing those levels out as well, Mr. Kadia. But let's also put some of the triggers back on the table when you talk about gold prices. When you talk about 2025, it was quite the record year and a couple of factors among others were very important in that kind of rally that we saw coming in best year since n since 1979 for gold prices. So you do have dd dollarization that was one very important trend. other than that central bank buying as well and there seem to be some little bit of indicators also coming in from China in terms of that central bank buying. What do you think about these two factors or are there any factors that you think are going to be driving gold prices going forward?
>> So is not a term that that could be dissolved in one or two month because it's a 100 years journey. We have seen pound as a rural for global market. Then we have seen dollar came. Now it's a time that dollar is losing its strength.
But we don't have any other currency that can replace dollar for time being.
Yes, gold is the only currency or gold is a commodity that can replace dollar and that is why we have seen all central banks are going with the gold. But important volatility what we have seen in last three years is purely because of commodity is now as a financial asset and we have seen family offices we have seen mutual fund ETFs coming to the commodity market and because of that volatility has been there and I think this is the important point because financializing of commodity that has attracted many people to attract towards gold. So I think these three things is going to be there. No doubt inflation is with us. Whatever the rate hike expectation continue to be there that will support gold and maybe we can see gold prices doubling from here also in next 2 to three years period but fundamental remain very robust for gold.
>> No and that's quite a forecast coming in Mr. Kadia in terms of doubling of prices. So it no doubt that you know the fundamentals seem to remain intact at this point in time at least. Thank you so much for joining us with all of those price levels and all of those insights going forward as well. So there you go.
Gold prices could double going forward and that's the forecast coming in. 220 on the domestic front is the kind of level that you should be looking at as well. But let's also take a look at Goa that is witnessing a pivot in its economic model with the chief minister wanting to work from its shacks as well.
The government wants tourists to stay longer and create wealth instead of splurging only on weekends. NDTV prophet caught up with him to try and understand a little more about this. Listen into a slice of this exclusive conversation.
>> Right. Goa is known for many things. Its beaches, its tourism, its night life.
But one thing it's not known for is having the chief minister sit at a shack here and working out of a shack here in Baga beach. Thank you so much Mr. Sawant for taking time out for NDTB profit to work from the beach. It is not only to the work from the home. Now the already the prime minister Narendra Modi has appealed to the work from the home but most of the time the people uh has got um tied up to work from the home. So they can come to the Goa they can take the stay um stay homes and everything and they can start to work from the beach. This is the new concept already that we are creating the infrastructure which is required for them. So uh they can at least uh start their works uh from the beach. So as I rightly said beach which is the Goa is not only for the sun sand and sea is Goa is also for the startup. So this is this is a new concept we have started >> right Mr. Sant we've also seen other global destinations do the same right we've seen this with Bali in Chiang Mai in Thailand in Lisbon in Portugal all of them being promoted as vocation destinations what is Goa doing differently what is Goa also doing to attract all the talent that is sitting in Bangalore in Pune to Goa to what are the policy changes that you are also considering >> there's a uh you are rightly said we are promoting the vocation destination through the shakathon 2026 this is a New new concept nowhere in the India. So the the shacks is earlier known only for to enjoy the beer to enjoy the fish chicken they can sit and they can enjoy the sunset sunrise but through this shakathon 2026 this is a new concept along with the enjoyment in the tourism activity they can do the work also. So definitely I think to just to work in the by sitting in the one room yes sitting in the offices this will be the better they can do the work by sitting in the beaches. So this we will attracting the global uh tourists also they can come and they can work from the beach.
>> There you go. So that's the word coming in from the Goa's CM as well where he's talking about how sun and sea should also be coupled with startup talent also flocking to the state as well. But with that let's take a very quick break on the other side more news and updates.
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Welcome back. Thank you so much for staying tuned in. Well, it's time now to put the spotlight on what the commerce minister P Go had to say about the rupee sliding and what more measures the government can really be bringing in at this point in time to help with that.
Let's go across and listen in with rupee sliding. So, what more measures can the government take to you know contain the current accounting?
>> We are uh monitoring the situation. All the various arms of government are working as a team.
Several steps are under consideration.
The situation is globally quite uh challenging but we have the confidence and the courage of conviction that we'll come out winners even in this challenging time.
>> All right then there you go. So that's the word coming in from PQ as well. So there's a bunch of counters that are actually buzzing away in trade.
Something like a grassim industries is in focus. You do have a bunch of these counters that are in focus and add to that entire list something like a Bosch as well on the back of a steady you know fourth quarter as well. In fact, Shivam is standing by with all of those highlights when it comes to this particular counter.
>> Well, yes, Bosch has released its quarter 4 results. And if you look at the key highlights the domestic market that has remained steady for in quarter 4 FI26 and uh in quarter 4 FI 26 the mobility business has also seen a growth of around 17% which was driven by uh the growth in the power uh solution business. In case of the domestic automotive industry that is expected to see witness that is expected to witness the steady growth in FI27 and uh in two-heer segment also it it is expected that the company will register a positive growth. However, uh in uh the geopolitical earth certainity has impacted the shipments. But the semiconductor uh issues have been resolved. The management of the company has also uh and have an outlook which is uh cautiously optimistic regarding the FI27 period. In terms of the financials for quarter 4, the AIDA margin of the company stands at around 14% which has improved from 13.2% on a Y basis. The revenue has seen a growth of around 13% and the net profit has seen a growth of around 2.7% on a Y basis. Next stock is Salmon Capital. uh the company uh has closed its legacy book which has been seeing a lot of stress and uh were having loans which were of low quality and uh the company has said that the no incremental net net provisions are required for this and the G&P and NNP stands at 0% each and the uh strong guidance has been given by the company for FI27 till FI 30. Now if we talk about the exceptional items that were recorded in this quarter and that was a uh that the board has approved a change in their business model uh and that with that the company has identified 14,900 odd crores of non-core loan investment which does not align with the company's objectives going forward and the company has been strategically shifting towards the higher retail asset mix in its loan book and has said that this uh loan will be uh resolved by selling to the asset reconstruction companies in terms of FI 2030 targets. The AUM of the company is set target is set at 1 lakh 94,000 crores. The return on asset is targeted at 4.4%.
>> Absolutely. And thank you so much Sham for joining us with that update coming in. As far as something like a Saman capital, Bosch as well is concerned.
When you talk about Saman capital, you're looking at a gain of close to 9 odd% thereabout. And it's in an otherwise tepid market. Same can be said for an Apollo hospitals as well. But what's not doing so well right now is a jubilant food works on the back of that weak fourth quarter set of numbers missing estimates with flat same store growth and a profit decline coming in despite margin expansion so about an 8% cut coming in on this particular counter in fact mama standing by with the earnings fine print but not just that the brokerage view as well basically Jeff has cut the target price for Juven works they have been bullish on this one but this time what they're saying is that um they're cutting the target price from 850 to uh 600. They're maintaining buy but what what they're saying is that they're still uh waiting for growth to pick up in terms of their earnings growth stand plus the commentary that's come in for FI27 from the management remains weak in terms of near-term guidance with regards to margin uh tailwinds and they're saying that consumer tech platforms are performing uh better and become uh preferred ways of investors to play the entire consumption theme. Plus they've also gone out and said that they will wait further for earnings growth to pick up to you know kind of reconsider the rating on Jubilant Foodworks and that's the overall view as to why you know Jeffre has cut the target price for something like a jubilant foodworks.
>> Well absolutely and thank you so much Mahima for getting us that entire round up. In terms of the brokerage verdict here that stock is down about 8% but when you talk about Apollo hospitals as I was mentioning that stock is doing quite well for itself in an otherwise steepid market and after posting a stellar set of numbers you do have the particular company also betting big on its diagnostics business and that's the word coming in from the managing director as well. Let's go across and listen in to that bit of commentary >> and we are seeing a comeback of uh patients from Bangladesh. So they more than compensate for that. Total international patient revenues grew by 10% for this quarter at 870 crores. With regard to the online business, the significant thing to while it was 330 crores of revenue, the losses have come down to only 16 crores. So I think you can look at a very profitable business and uh not more it's not about margin but it's more about asset turns. It's more about return on capital employed and uh and high volume business. And if you look at our diagnostic business, this is we believe where the future is because it's closely linked to healthcare to to clinical work that we do and uh we are expanding the diagnostics network. Already there has been 52% growth in the diagnostic space and we believe we can become among the top three. Uh margins in this space are also there you go. So that's the entire word coming in from Apollo Hospitals as well. That stock is buzzing away in trade and going forward. They do expect margin expansion as well. That's something that they're really betting on right now in addition to expansion. But let's also move on and talk to you about not just the stocks that are buzzing away, but what you could be expecting and what you should be keeping on your radar. In fact, sources are telling NDTV Profit that the RBI board is going to be meeting tomorrow to consider dividend payout to center and is set for record payout for financial year 27. P joining in with all of those highlights. P.
>> Yeah, that is right. uh we are according to our sources we are hearing that the RBI's board will meet on Friday tomorrow to consider approving paying dividend to the center for FI26. Uh according to economist this uh dividend could be in the range of around 2.7 to as high as 3.5 lakh cr rupees. Uh this dividend uh economists say would be uh helped by uh the depreciating rupee. you know the RBS balance sheet would have actually grown because of uh the continued rupee depreciation which gives them enough room you know to provide this uh uh particular dividend uh profits from money market as well will help RBI pay this dividend in fact there is this contingency buffer that RBI last set at last year set at 7.5% if the RBI chooses to lower this contingency buffer to say 6.5 or 7 or 7% then it gives them more room to actually help the government with more dividend. If the dividend is as high as 3.5 lakh cr then the RBI would single-handedly meet the government's uh uh dividend target for the current fiscal. Back to you >> now absolutely and watching out for that as well. Thank you so much P for getting us all of those highlights. But that's all the time that we have on this edition of lunchtime trades. Thank you so much for tuning in.
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Good afternoon. You're watching small cap buzzers on any TV profit with me Somit Sarkcar and my co-anker Wsha. In the next half an hour we'll take you through the most important small cap stocks that have been buzzing in trade.
So what's so let's see what's on the show today. Firstly we'll be speaking with the management of Nefroare Health.
Now if you look at the company's Q4 numbers, the revenues did grow but margins have come down on a Y basis.
what led to this and was the way forward is something that we'll try to decode with the management on the show today.
Apart from that, we'll be also covering three small cap stocks that have been buzzing in trade. The first one will be protein ego. The company has reported its highest ever quarterly annual revenue. Even if you look at the volumes today in trade, they are nearly seven times its 20-day average. Then when it comes to EPAC durable, that stock has been in focus. It's down in trade. In fact, if you look at the company's Q4 numbers, the profit has fallen nearly 100% on a Y basis. So, Punit will try to decode on what led to this 100% fall in the company's net profit in the fourth quarter of FI26. And lastly, we'll be speaking about Sang Movers. Again, a strong set of numbers. Company's order book has increased to more than 2 gawatt. So, that is also one of the reason why the stock has been gaining in trade. So, what's the outlook here? will try to decode this with the fundamental guest on the show today that is the small cap buzzers. Now if you look at the market the nifty not much of a movement is largely flat is down just 35 points in trade but sell on rise is the strategy that we can clearly see we did open on a higher note in trade 25 uh 23,900 23,850 was the resistance that we had seen and since then we have been on a downtrend currently just down 35 points odd in trade when it and this is largely led by the banking names specifically the private bank index if you look at the NFT banking that's down nearly 300 points in trade 0.6% fall days lowest point is what we are seeing for the nifty bank index and in bank if you look at the sectoral indices is the private bank which have been the major culprit which have been pulling not only nifty bank index down but also the nifty index down nifty private bank index down around 0.6 six followed by it which is also down similar percentage in trade.
On the gaining side we have defense name which have been gaining and real estate which is gaining for the third consecutive session. Also when it comes to the small cap name despite the weakness that we are seeing in the benchmark the nifty small cap index is up more than 100 points in trade 0.7% up. Let's get in versa to understand which are the key stocks that have been buzzing here.
>> Yes lot lot of stocks actually buzzing on the back of volumes and earnings. Now you know considering the earning season you have high techch cor well buzzing on the back of high volumes of around you know 4x four times of its 30-day average. There you go the stock is up almost 20% in trade. Uh you also have J Bharat again volumes are trading at 36 times and this is you know second or third consecutive day we are seeing uh the stock is up almost 14% in trade. You have barbecue nation of course buzzing on the back of Q4 numbers. Though the numbers didn't come today but the stock has seen you know that buzz in in the last few days since it uh came back came with its Q4 numbers strong numbers though you have KDDL again buzzing yesterday we did cover this stock on our small cap buzzes the stock is up almost 7% in trade you have wealth first also you know buzzing in trade on the losers side though let's see what are the stocks which are on the losing trend you have team lease you have Dr. Graal which are on the losing side Anu Pharma and SP apparel are also you know losing in trade when it comes to small cap but one stock which is in focus of course on the back of Q4 numbers is Nefro plus well uh let's hear it from the management what are they expecting for the next two two years and for this we are here joined by Mr. Prashant Goena who is chief financial officer at Neproflus uh Mr. Goa welcome at entity profit you know always pleasure to have you let me start the conversation with of course Q4 margin uh if you see AITA margins did decline year on year despite you you've seen a good growth in revenue what were the key pressures and what is the AITA margin target for 27 FY27 >> yeah uh thank you versa for having us on the show um uh before I answer your question I just want to quickly highlight We declared our Q4 result and FI26 result. Revenue grew 32% yearonear.
Aida has grown 38% yearonear. And our profit after tax has grown 75% yearon year. Our Eida margin has also seen a 100 basis point improvement. If you compare FI26 to FI25 and pack margin has gone up by 310 basis point. On a Rosi basis, we have improved our Rosie from 19.9 to 22.8%.
Now coming back to your question about the Q4 AIDA margin which has gone down to 20% range. Uh that has been driven by a one-time provision that we have taken uh on some of our institutional accounts uh basis the new ECL methodology that we are adopting. Uh just to clarify this is simply an ECL provision and not a write off and this is being taken just to take a conservative view on a recl side of things. If you if we exclude the onetime ACL provision the AIDA margin for Q4 will be 25%. Which is slightly higher than our historical AIDA margins.
>> Right. And how are you looking the margins to pan out for the next financial year that is F for the current financial year that is FI27?
>> Uh yes sit. So I think if you to answer that question I think it's important to understand how the diialysis industry work. We are the first uh diialysis company to be listed in Asia. So I think it's important to get a little bit understanding of the dynamics in our business. There are three important levers. The first lever is the existing footprint. We are present in 290 cities in India. We are present in four countries. Uh we have about 500 clinics across uh across all the four countries and this existing capacity grows at a very predictable rate month, quarteron quarter. So that's our first lever where our existing capacity is growing on the back of increased utilization. The second part of a lever is where we add more capacity uh in our existing market.
We are very similar to an airline industry where once the capacity is utilized, the only way we can grow is to add additional capacity. To achieve the lever 2, we typically add about 40 to 50 clinics in India and 10 to 11 acquisitions in Philippines. This part of the lever cannot be predicted on a quarterly basis. Uh this lever can be fairly predictable on an annual basis.
The third part of a lever is opening a new country or doing a large scale acquisition. This part of a lever can only be predicted on a one or two year basis. Which is why we have given a prediction that our revenue will grow at a keer of 15 to 20% over a period of 3 to four years. Now to answer your question about AIDA margin, the AIDA margin we expect it to be in a healthy range which is somewhere closer to the current range depending on how these three levers play out. The lever one, lever two and lever three. Uh we always attempt uh from a capital deployment perspective, we are always deploying capital in margin accrative and rosi accrative businesses and uh therefore the margin should remain in a healthy range. But uh due to the Iran war, we are also seeing some increasing pressure on our COGS line. So that will also have a marginal effect on our Aida margin. So the combination of the three levers which will drive the AIDA margin up and the Iran war related supply chain issue which will drive the AIDA margin slightly down. Uh we believe the AIDA margin will remain in a healthy range but uh we cannot give a very specific guidance.
>> Right. Now you were speaking about Mr. Goena you speaking about the geographical uh you know segments as well. Well uh on that note international revenue contribution rose to 42% for you. What's the target mix where you want to take that contribution? I just wanted to understand maybe you know in FI 27 and 28.
>> Thanks Visha. I think that's a great question. If you look at FI25 our international mix was 32%. Uh we have grown from 32% to 42% in a matter of one year. Now there is an interesting dynamic that needs to be understood. Uh we started in India at a $22 price point for per diialysis session. This is the lowest price point in the world. When you start your business in the lowest price point in the world, you have no choice but to build build a very efficient operating platform. It took us almost 13 years to become aida positive and uh uh sorry 13 years to become pat positive and 10 years to become aida positive. But once we achieved the critical mass in 2023, we have been able to scale profitably on profit on margins as well as returns. Now when we have built this India platform, we are now taking this India platform to other countries like Philippines where the price point is five times higher. We are taking it to where the price point is three times higher. So this India platform now gives us the right to win in the overseas market because of the lean operating structure we have and the strong quality backbone. So international is a key part of our strategy it will continue to increase and because of the fact that the price points are higher in the international market this percentage will continue to inch upwards. Uh in terms of specific number we are not currently giving any guidance. It depends on the lever three.
We try to open a new country every 12 to 18 months and uh depending on when the investment makes sense from a capital allocation perspective, Rosie perspective uh we will open those markets.
>> Uh so can you share with us the utilization levels and the occupancy trends that we are seeing when it comes to the international market.
>> Uh so Samita in diialysis uh it's a fixed capacity business. We we run three sessions every day. the morning session, afternoon and evening session. Each session runs about 4 hours including before and after it's about 5 hours. The morning and afternoon sessions are preferred by the guest or patients. Uh the evening evening session which ends at about 10 p.m. is least preferred by the patient because they prefer to go home for dinner. So the capacity is fully occupied in the morning and afternoon session but the evening sessions is less occupied. So our current occupancy uh rate has actually improved from 74 to 75%. And this phenomena this dynamics in diialysis industry is consistent in any country of the world. So we see similar trends in India of the utilization being around 75% and we see similar trends in the international markets as well.
>> Right. And also sir you know you've you've completed multiple acquisitions.
I just wanted to understand will organ inorganic growth remain a key driver for you in future as well?
>> Yes. Uh diialysis as I said is a fixed capacity business. We are like uh we are like the indigo of the airline industry where once you utilize the capacity like I said we can only do three sessions on one bed. Once you utilize the capacity then the only way to add or grow in our business is to add new capacity. Just like in airline, you can only grow by adding a new uh flight or a new route.
So, uh inorganic contributes almost 80% of our growth and therefore uh it's a key part of our strategy. Uh we typically open 40 to 50 new clinics in India every year and we do about 10 to 15 acquisitions, center level acquisitions in Philippine. For example, last year we opened 52 centers in India and we did 11 acquisitions in Philippines.
>> All right. Well, thank you so much Mr. Goena for uh you know joining us and having a conversation with us. Thank you so much.
>> Thank you Visha. Thank you so much.
>> Well, this was you know Nephro Plus Nefro Plus outlining the growth prospects for next two to three years.
But uh moving on let's invite the guest for for our show which is Avin Gorak Shakar founder and head research at Avin Mentor Research Services. Avin you heard the management uh you know they considering I mean they are the only listed company in India just wanted to understand your perspective when it comes to this counter and of course on the industry as well considering valuations also >> I think Russia the quarter numbers have been slightly disappointing as you rightly mentioned on the AITA front but I think uh you know if this margin compression is because of a one-time adjustment then I think we could expect a decent kind of bounce back in quarter 1 of financial year 26 27. As far as the growth is concerned, I think the management appears to be quite aggressive. Uh we believe 27 could be a much stronger year in terms of new uh additions to the you know diagnostic laboratories and obviously if margins average around 24 to 25%. The markets would definitely be pleasantly surprised. So you know from a long-term perspective we could see that you know this kind of you know negative surprise which has come on the margins will not come in but even at these levels I think you know it's better that one takes a slightly buy on dip kind of opportunity the stock has moved up from 550 odd levels to 590 so I think clearly a little bit of correction and then I think the risk reward could be better but yes longerterm prospects appear to be quite good >> well the next stock in focus is protein egov the company has delivered its highest ever quarterly and annual revenue. What led to this? Let's get in part to understand. The stock has also hit an upper circuit of 20% in trade.
>> Thanks a lot, Swamit. So, starting with the key highlights, protein has delivered its all-time highest quarterly and annual revenue performance in FI26.
Uh they saw strong growth across their core tax services as well as the new business segments which they have. The new business segments actually nearly doubled and they now contribute to around 10% of their total revenues while the core tax services also grew sharply which was led by the growth in issuance of uh PAN due to the regulatory changes that we saw recently. If you have a look at the Q4 numbers then revenue was up 38.7% to reach 308 crores while EIA saw growth of 55.9% to reach 53 crores with EIA margins also rising really well to reach 16.5% versus just 14.4%. 4% in the same quarter last year. Adjusted profit also jumped 53% to reach 31 crores. So really good numbers coming in from the company. If you have a look at the company, if you have a look at the segmental highlights as well, then uh the tax services revenue also saw growth of 65% with the CRA services revenues up 3% yearon year and as we saw the main growth driver was their new business verticals which nearly doubled. saw seeing a growth of 95% yearonear. The company has retained 100% APY market share and 98% overall CRA market share.
They issued over 4.7 cran cards during FI27 with a market share of 59%. So they still hold that majority market share in PAN issuance. Now lastly about orderins and management commentary in FI26 they had won a huge order of 1370 crores for Aadhaar Sea Kendra. The management has called FI26 a landmark year with growth in both of their core services as well as the DPI verticals. Now the focus remains on scaling AI global cloud ecosystems and the DPI opportunities which the company is seeing right now.
The management al has also highlighted their diversification across their legacy beyond their legacy tax and pension businesses. So really good numbers coming in by the company as you have said the company has hit a upper circuit of 20%. And let's see how FI27 pans out for them. Okay.
>> Uh thank you Pad for that. Avin at current valuations would you advise investors to go ahead and buy protein ego.
>> Yeah. If you are taking a long-term view, I think this is a very strong business model and I think you know after a very bad quarter earlier this quarter I think the company seems to have bounced back and I think uh you know this business is like an annuity business of course there is a contract time frame attached but I think going forward in the next financial year if this momentum is maintained then I think you could expect a further rerating because obviously margins could improve because of the operating leverage and the scale of the opportunity they do. So definitely from a 12 to 15 month time frame even at the current levels you know if somebody were to buy he could possibly buy it in a staggered manner and obviously try to you know average out maybe at the current and and some lower levels >> right understood well you know time to dive into the FO market setup and the Q shaping in trade today let's bring in Shhat for more details >> well uh thanks a lot for that Vsha but if you see largely it has been a lackluster day of trade initially at 10:45 also the strength of momentum was in the market it's almost like that only nothing much there. Weaker technical setup for BankX on the other hand.
Interglo aviation trend. BL doing well in trade. Reliance slipping in trade in the red right now and a little bit of profit booking coming in the IT space and Bajage Finance but nothing major concern right now. Apollo hospitals Phoenix Mills that is where we are seeing an action a fresh long buildup happening on the earnings specific.
Apart from this let's look at the second important setup that is the short covering. We have Salman Capital and Amber Enterprises as well. the stock is up 7%. Also looking at the long unwinding names we are having Jubilant Foodworks where the sell-off has you know maintained itself. There was a big sell off post its earnings and PI industries after a weak set of numbers again sustained selling coming in and largely it's a volume based selling happening for PI industries. Also let's look at uh the other stocks where there's a good short buildup. This of course includes your CDSL and Bosch as well. So these are the stocks which should be on your radar in the FNO space >> right well thank you so much uh Shahhat for all the details moving on EPAC let's uh pull up that counter EPAC durable because stock is down almost 9% and this is on the back of Q4 FY26 numbers very weak numbers net profit was down almost 99%. But you know let's uh bring in Punit for more details and let us understand why there was degrowth of 99% in net profit. Punit over to you.
>> Well most certainly it's all wiped out and and that's largely because of a reversal and we'll get to that in just a bit. But in terms of numbers as you rightly said revenue was down almost 8% in this quarter. EIDA though is down 64% with the total margins coming in at just around 4 or% versus 11.2 in the same time last year. You know generally quarter 4 is a very strong one. Uh this time around though the B rating change led to a stronger quarter 3 and quarter 4 was expected to be a a slightly slower one but this has been much weaker especially in terms of profitability.
When you look at the segmental sales that will give you the picture of what's led to the downtick and it's the AC business which is almost 60% of the company's revenue is down almost 25% in this quarter similar to what we've seen in quarter 3 as well. uh small domestic appliances and large domestic appliances is a smaller share but is up 32%.
Components is up 51% but you know the the AC business being down 25% and majority of the revenue coming from there is the reason for the impact but when you look at what led to the sharp 99% fall in profits the main reason was the PLI income now for FI26 the first 9 months the company had a PLI income of almost 32.4 4 rupees that got completely reversed in quarter 4 because the company could not meet its revenue targets under the PLI scheme. So that is the major reason why the profits have been impacted completely in this quarter. You saw that FI26 essentially had no PLI income recognized FI25 that had the the PLI income was almost 37.5 kores and the profits for the last year was 55 crores. So out of 55 crores profits last year 37 crores was the PLI income and hence with the PLI income for FI26 wiped out so has the profits for this quarter.
>> Understood. Well thank you so much Punit for all the details. Avin stock is down 9% you heard Punit what will you advise to investors? Should they jump in and buy this stock or should they avoid totally?
>> No I think uh you know these numbers are disappointing. So I think it's better that we wait for the management commentary post the numbers and we also wait for the quarter 1 of FI27. Uh I think you know this kind of volatility in quarterly numbers is something which is a little uh you know disappointing.
Investors don't have a very good handle on how the earnings tra trajectory you know pans out. So I would say that it's a hold from my side you know it's that business will definitely continue to grow because they operate in a business where they are a very well established vendor. But I think Q1 numbers would definitely you know be awaited once they come back on the normal growth trajectory. I think that would be a time to take a call. So as of now hold no fresh buying suggested.
>> Sangi movers is the next counter that remains in focus. A solid set of numbers. The stock is up nearly 10% in trade. What were the factors and what's the outlook? Let's get in uh Sham to give us more details.
Well, yes, Sangi Movers has uh touched the uh 6 month intraday high in today's session and this has been the biggest intraday advance since February 2024 and uh the stock in in terms of trading volumes also uh the stock is up 50 times the average volumes and all this positive momentum is on the back of strong quarter 4 numbers. Now looking at the key points uh starting with the uh order book the company has a secured order book for FI27 of around 153 crores and in uh terms of its subsidiary Sen Green which has a order book of around more than 2 gawatt this quarter. Now uh the order book also reflects the strong progress towards the annual objective of the company and in terms of asset efficiency the company has performed strongly uh with driven with an improvement which is driven by uh utilization and yield. In terms of total planned capex for fi 2627 uh the total capex is around 391 crores out of which 191 190 crores will be in India and 201 will be in kingdom of Saudi Arabia. Uh coming to the financials for quarter 4, the company's net profit has gone up by 27% and uh revenue has seen a growth of around 31% to 351 crores. The AIDA has also gone up by around 25% to 134 crores. Looking at the stock's performance for one week, the company the stock has given around 16% of returns and in one month the company has stock has given 18% of returns too.
>> Well, thank you Shivam for that. Let's get an a view from Avin on Sanvi Movers. Uh the stock has been on an uptrend. Uh Avin good buy still.
>> Yeah, I think Swamit if you look at the performance I think very strong numbers both on the top line and profitability.
In fact, Sami Movers is the largest company you know which is into the Korean hiring business and now with the overseas kind of business opportunity. I think you know in the next 12 to 18 months even this business is going to throw a lot of topline growth. uh most importantly you know the order book is very strong I think for the next at least 12 to 18 months they're comfortably placed on the visibility on in terms of topline growth and margins have always been high for this business so typically I think you know the markets would rerate this stock I think from a long-term perspective it's definitely it could be a good addition to your portfolio but take a time frame of you know 12 to 18 months >> right the next stock that I wanted to check with you avin is jharat marauti in the last four trading session the stock has moved up nearly 38% %. Have you looked at the Q4 numbers? How are you looking at this stock after this 38% move?
>> No, I think see clearly Jarat Marauti is a very old vendor to Maroti. Uh I believe you know they also are operating in the bus segment. Clearly I think you know the product potential is very huge.
uh I mean clearly I don't know what's the main reason for the stock to spike up today but from a longerterm perspective you know the management has delivered on the numbers Swami and I think you know the next 12 18 months they do have a reasonably good order book and if they are able to actually latch on to the growth what Marupi performed and obviously deliver on the margins then I think you know clearly even at these levels there could be a good upside for the stock so longerterm prospects definitely appear to be good >> right understood well thank you so so much Ainina for joining in and having a conversation with us. It was pleasure to have you on our show. Thank you. Well viewers, this is all the time that we have on this edition of small capes.
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>> I'll recommend a buy call on a stock only when I'm fully convinced on the stock with a Hello and welcome back to NDTV Profit.
You're watching Ask Profit the afternoon edition. My name is Punit Zeri and over the next half an hour or so we'll try and solve all your stock related queries. So if you haven't already, do start sending them on the number that's flashing on the top of the screen. You can also call us, speak to us as well as our guest on those said stock related queries as well. But before we do all of that, it's a very very good screen to watch. So let's uh take a quick check of how the markets are doing because you've seen gainers especially like grassim today on the index nifty50 and while you've seen some correction from the day high pull up the nifty50 heat map and that'll give you that perspective as well. Now uh we've lost about a 60 to 70 point uptick that we were maintaining throughout the day. So the last hour of the trading session becomes very very crucial. You're seeing Grassim, Indigo, Apollo Hospitals, Bajage Auto and Trent are some of the big gainers for today.
In terms of the losers though, you're seeing some impact with a 1% downtake on Tech Mahindra, Bajage Finance, Hul, Tata Consumers as well as COC Mahindra Bank.
So those kind of stocks are continuing to be under pressure with a percentage downtake. But when you look at uh the sectoral heat map that'll give you also some perspective of the uh the portfolio and defense realy small cap energy as well as healthcare are continuing to see the majority of the gains as well. So very even steven as of now slightly more tilted towards the gains and in the advanced decline ratio that continues to show you that perspective as well. For the broader markets though where you're seeing individual movers dominating the news flow you're seeing 1600 advances and and very very slightly very slowly those lines are getting closer so you'll watch out for that and in terms of what we've seen in the BSC 500 all individual stock movers today there have been plenty on results jubilant foodworks you know now Bosch as well is disappointing the street but jubilant foodworks pi industries bosch those are the three losers for today you've seen jk laxmi cement also report results which have not enthused the markets. On the other side though, Honeywell Automation uh Saman Capital very very interesting set of results to say the least. Um Amber Enterprises were one and for Saman of course they've written off a lot in this particular quarter. Grassim as well as RHI Magnesita are some of the other gainers as well but uh let's go across and start taking your stock related queries. Let me welcome in our guest NRA, head equity research uh analyst at Latin Manhal Securities and Jatan Gia, VP technical research at TG Mandi. Uh gentlemen, both of you thanks so much for joining in. Uh let me go across and take the first query. This one's coming in on Shiram Pistons. uh of course it's u spa technology now and he's bought shares at 3575 u and saying that you know he viewed the Q4 results largely thought they were okay but seen some correction post that uh nav uh if you have a view on how the results were and what because it's not a cheap stock as of now should our viewer Muri continue to hold this counter >> well I think u he should continue to hold the counter from a medium to long-term perspective because I think the prospects for the uh the automotive component space is improving with the period of time and we have seen auto sector making a comeback of sorts. So that will be reflected on the auto ancillary segment too going forward.
>> Got that view but let's go across and take the next question now and this one uh you know it's on Samana Madasan. Our viewers Shanka from Bangalore is about 1500 shares at 128. So he's in the gains. Uh the stock has been uh in the green as well on the back of good results yesterday. We spoke to the management today as well. If you missed it, do catch it on uh YouTube on our channel as well. A lot of conversation on the aerospace and defense side as well. U he's planning to add a thousand more shares here. Jatin, would you recommend that at the current price point for Samra?
I believe that the structure is positive for Samadan mother. Uh we are expecting a move towards 145 147 levels. Uh pattern wise it has broken out from a triangle pattern on the upside. So that is a trend continuation pattern. If he wants to buy 1,000 shares then I suggest to buy 500 and if there is a dip towards 134 then add more 500.
>> Got that for you. But let's go across and take the first caller for today. Uh this one's dialing in from Msuru and Moan has a stock query for us. Moan, very good afternoon to you. What's your query?
>> I just want to know can I buy engines or kill engine at this time for a long-term body?
>> Got it. U and do you have any other similar name in your portfolio whether in the auto space or any others moan right now?
>> Auto space autootives and uh Baj Auto.
>> Baj Auto got it. uh nav you know swaraj you know it's been a very interesting counter as well how are you viewing between that and kiloskar for moan any of those that you like right now >> well it's an excellent company Saraj engines it's always rewarded shareholders very well the fortunes of this company are linked to that of Eminem because it supplies engines to Mahindra and there's a very strong revenue visibility and a very small equity base, very strong return margins whether it's return on equity, return on capital employed and the company has been very generous in terms of its dividend payouts. Uh so I think um at this point of time of course we uh we have seen that the tractor volumes have picked up significantly and this is reflected already in the numbers of Saraj engines.
So the the advice here would be to shift uh to some other counter where there is a possibility of gains. I'm not saying that it's a bad company but already the runup has happened. So I think he should look maybe towards Bajage auto.
>> Got it. Uh Got VR and thanks so much for the detailed view. Let's go across take another caller now from Vijay Vada and Bindu has a stock query for us. Bindu very good afternoon to you. What's your query?
>> Good afternoon. Uh I hold 100 shares of trans rail at uh 55.
>> Okay.
>> So my view is for short term. Uh should I hold to it or uh should I take exit and enter into another counter?
>> Got it. Uh Jen on trans because you know it's been a sideways uh kind of a momentum for this counter. What would you recommend for Vindu?
SH has been in a downtrend. Uh I think if the view is for a short term then uh the trader should hold on uh currently with a stop loss placed at 488. If there is a pullback towards 525 530 uh I suggest to exit.
>> Got it. Uh the next question it's a very interesting one on Saman capital. We highlighted that during our market check as well where u a lot of that book has been written down in this quarter. Hence the big 8,000 cr loss reported. Uh Swami from Bangalore is holding 100 shares at 142 NRA. Um firstly nav if you have a view right because the the results I don't think a lot of people were expecting this kind of write down in the first quarter itself with this magnitude. Any view that you have for Som what should she do?
Well, typically this is what happens when you have a new investor who comes uh into the company and I think in this particular case we have do have a new uh investor or the Abu Dhabi based investor who has made an entry into the company and typically when such a scenario happens there is a possibility of kitchen sinking which takes place in the subsequent quarters. Now this kind of aggressive kitchen sinking I think has happened in the first quarter itself uh with a with a clearcut motive uh to clean up the books and start on a fresh slate. So from that perspective I think uh markets are taking it positive.
>> Got it. Uh the next caller now from Pune and Vinak has a stock query for us. Vak uh very good afternoon to you. What's your query?
>> Good afternoon. I have 2400 shares of Bajage Finance. Okay. at 488 rupees. So I would like to ask whether I should hold it. I'm a long-term investor.
Whether I should continue to hold or rather I would be interested to partially book profit and then go into which stock for the next 2 to 3 years.
>> Well firstly when I many congratulations on those huge gains 10 lakh rupees profit that you're sitting on. Uh you did you buy this uh during the covid downturn and have you held on for the last five to six years? Right.
Sorry uh sorry Vak we couldn't get that >> in fact more than that even before the co I had this >> oh well firstly Vak many congratulations I don't know why you want to sell Vak I think you're doing so well uh but nav what would you recommend for Vinak on Baj Finance bought at 488 is there a reason to complain >> no reason to complain and I fully concur with you I think he should not sell uh the shares even partially he should continue to hold with a medium to long-term horizon.
>> Uh hopefully Vak that does answer questions. Um the next question now coming in. This one is um a a question between two. So Abdul Rashad from Kerala has a question for you. Jatin wants to enter between Kalyan Dwellers as well as Skipper either of those counters that you like for the next 6 months.
>> Yeah. See Kalyanas is firmly in an downtrend. So from a short-term perspective, I would suggest to avoid that stock. As far as skipper is concerned, skipper is consolidating after a sharp run up. So I would suggest the uh trader to buy the stock only above 485 where we have the breakout level of the consolidation. So above 485 he can consider to buy. On the upside we are expecting 550 to 570 on the upside.
>> Got uh that view Jatan. But the next one is coming in on e- clerks and our viewer is holding shares and actually wants to enter this particular counter now asking if it's a good time to do so. NRA would you recommend that you know the IT pack going through its fair share of downtake momentum. Any view?
uh well I think uh uh he he can consider uh some other uh uh companies or you know uh the the emerging spaces. So I think uh we would uh be prompted to uh have a look at companies like fractal analytics or a net or an Oracle financial uh services.
These are these are some of the companies who could emerge as tomorrow's winners. H got that uh view but uh you know let's go across and uh continue taking uh stock related queries. Viewers you can also call us as well for those said stock queries as well. Next one is coming in and this one's from Rajiv Sahu on Cosmo first. We've not discussed the stock for a while on the show now. Uh he wants to again enter this particular counter and if it's a good time to do so. What would you recommend here NRA?
Any coverage?
I think this is related to plastics and boped films.
So I think it's advisable to stay away considering the fact that the fortunes are linked to that of crude oil.
>> Got it. Well uh the and you know that is definitely one of the key impacts that we are seeing across sectors but most certainly on commodity linked as well.
So that's NRA's view. The next question coming in now and uh this one's on across chemicals. Our viewer Mr. Raalo wants to know if it's a good time to enter this counter. Jatin, would you recommend that?
>> Sorry, which name?
>> Uh, Acutas Chemicals.
A C U T A S.
>> Can I pull up this counter as well as Jatin looks at this one? Yeah, Jin, go ahead.
>> Yeah, see it's trading at a lifetime high. uh the risk uh here would be placed around 2,900 and thereafter write the outlook. So it's formally in an uptrend. So I suggest if he wants to buy at current levels then place a stop loss at 2,900 and on the upside we are expecting 3,150 to 3,200.
>> Got that view Jan but let's go across take another caller from Bengaluru and Subramanium has a stock query for us.
Sub Braman very good afternoon to you.
What's your query?
>> Very good afternoon to all. I hold 49 shares of Surio this morning finance IP allotment at 305.
>> Uhhuh.
>> Currently sitting at a loss of around 8K. I want to know what is the long-term view? Should I hold aggregate switch?
>> Got it. Um let me go across to NRAV then. NRAV you know one of those counters that have been a rank underperformer in terms of results as well going through his fair share of challenges. Would you advise Subramanium to just book out and uh anything that you would recommend from that space?
>> Well, I think a lot of patience has been tested and I think it it would be better to exit the counter and maybe look at some uh good uh uh small or medium midcap private sector bank.
>> Got that view. But the next question now and this one's on SBI cars. NRA, let me stick with you. He's bought shares of 620 U and um asking if it why does this counter continues to be in a downtick.
Uh Nav, you know, the the it's been since listing it's not given any returns, right? Last five year returns have been negative. Um and and the the earnings are not catching up at any point of time. Would you just recommend him to exit since it's very close to his buying price and buy something else?
Well, I think the asset quality issues continue to persist and I think the the the best course of action would be to exit the counter and again look at some good private sector bank.
>> Nihal that answers your question. Uh the next one also it's you know coming in and this one's on Bosch actually a viewer holds 10 shares of the company at 36530 and this is Kishor from Vijayada. uh today stocks down 5% uh I think post the conference call commentary nidav where growth expectation is flattish but what would you recommend here I think the the management being extremely conservative at this point of time the results were quite good uh should he continue to hold wait for a quarter to see what actually happens >> these are portfolio stocks and uh they cannot be bought with an intent to trade so I think he should continue to hold not only from a single quarter but from a I think at least with a one year view minimum >> got that view n but next question coming in from prashant and he has a question on TVs motor jatin what's a good price to enter we saw a downtake uh because of you know I think the the momentum being impacted uh probably because the purchase of that jana small finance bank stake via the listed entity uh do you have a view jhatan on the charts is this a good entry price.
>> Yeah. See, I believe that on the weekly charts post this uh sharp fall, it has witnessed an equally sharp pullback. So, I think uh uh tomorrow the candle will be closed on the weekly chart. So, by now it's forming a hammer pattern. So, I think there is a lot of buying interest at the lower levels. So I suggest that 3,300 would be a very good level to enter uh into TVS Motors from a short to medium-term perspective.
>> Got it. Well uh the next caller who's dialing in now is Shady. Shady, very good afternoon to you. What's your query?
>> Yeah, good afternoon Pune. Uh before I go to my query, I must say you have a great uh you know collection of suits. I mean I've been watching your search. I mean I see um you know Alex and all of your colleagues as well but your collection seems more sharp.
>> Well well Shady firstly I'll thank you for being so kind to me. Uh I have been rotating between quite a few of them. So I think my rotation has been quite on on point but thanks so much for calling in and giving us your kind words. Uh what's your query?
>> Yeah so the query is on uh it's on Tata Capital. I got one lot uh during the IPO. Uh-huh.
>> So, 46 shares at 326.
>> Fundamentally, I don't see any issue with the company, but uh you know, the stock price is kind of going down. It's not crashing. It's just going down recently, right?
>> So, I just want to understand what's the story. Is it the market sentiment or is it anything else that I'm missing on?
>> Got it. Well, uh Shy, I think it was one of those counters, right, in terms of valuations that everything just seemed to be priced in at IPO. But I'll let NRA also take a swing at this one. NRA I think it's the first time where I'm seeing it slipping below the 300 mark and hence probably the question but would you how did you view the results I think the results largely were in line any view on the results any view on the counter >> well I think uh results were in line with the expectations but uh I think uh the circumstances the market circumstances at this point of time we are seeing a lot of uh NBFC's come under pressure on account of the fact that the 10-year benchmark bond yield has been going up So there's a lot of uh of uh skepticism with respect to the to the margins and the asset quality related issues etc. So I think uh valuations on overall have been under pressure and this is no exception. So I think uh it'll be a slow and a steady road to recovery hopefully. So you should keep the patience and hold.
>> Got that view NRA. But NRA Jatin as well as our viewers, it's now time for the rapid fire round in this edition of profit. Uh in this edition of Ask Profit uh keep your answers as short as possible. The first question coming in on Sterite Tech. Uh NRA, is it a good buy for the next 2 to 3 years or is the valuations quite high right now?
>> Valuations are quite high.
>> Next one's on coach and shipyard bought at 554 by a viewer Jatin. Should he continue to hold his 100 shares?
>> Coaching shipyard, right?
>> Yes. Yes, that's right, Justin.
>> See, Coaching Shipyard, I think continue to hold with a 1450 stop loss.
>> Got it. Well, uh, the next question coming in now it's on Apollo Microsystems again. Suji wants to buy into this counter. Would you recommend that NRA at this point of time?
>> No, it's run up quite a lot. Anything that you would recommend NRA in the defense space still?
>> Uh Solar Industries.
>> Solar Industries. Got it. Uh next one's on PNG. Is it a good time to invest at 9,800? Again, I think a portfolio stock need in that sense. MNC culture. Uh any view on the stock though?
>> Uh I would prefer a Nestle.
>> A Nestle. Got it. Uh the next question you know that's coming in it's on BL bought at 456 by Lolita. Should he continue to hold here on the charts?
What would you recommend Jatin?
>> Yeah, continue to hold with a stop loss at 402.
>> Uh, Magnellic Cloud or Tex MCO Rail, which is a better stock to invest at the current uh price, NRA, any view.
>> Got it. Uh, the next one coming in now on Bank of Maharashtra. Is it a good time to look at this counter now? NRA, would you recommend that? Definitely yes because the numbers have been quite good and uh uh there has been good uh institutional buying happening over >> Canada bank is the other one our viewer wants to buy 500 shares and this is Eve Wenkar Traman who's a regular viewer nav should he buy that for the next one one and a half years >> yes with a long-term perspective yes >> uh Sanangi movers also another one NRA where the results were quite strong our viewer wants to make a fresh entry for the long term >> yes >> next one's from rope mukar from Kolkata on Bajage Healthcare bought at 290.
What's the view Jatin on the stock?
Should he continue to hold?
>> Uh the stock is in a downtrend. I suggest exit.
>> Also on wheels India Jatin because you know this one has a joint venture with Bosch and I think that's why the stocks up today but a short-term view is what Kunal is asking.
>> Yeah, today breakout continue to hold with a trailing stop loss at 1560.
Target would be 1,800. Uh PCBL chemicals bought at 160. What's a good time Jatin to exit this counter is what Priyanka is asking.
>> Current levels she can exit.
>> Uh next one's coming in on Eternal. Our viewer Sonu has bought shares at 270. Uh NRA, are you in the camp of continuing this bet for the long term?
>> Yes.
>> Next one's from Rimple from Chundigar holding 500 shares of Chambal Fertilizers at 480 once a one-year horizon.
Uh I think uh it would be better to shift to something like a deep fertilizer.
>> Got it. Radak Krishna from Kochi wants to know a view on first source solutions. Can it be accumulated? What would you recommend here NRA?
>> Uh no.
>> No. Got it. Well uh that is the end of the rapid fire in this edition of ask profit. NRA as well as Jatin. Thanks so much for giving us your views across a whole bunch of stocks and spaces.
Appreciate your inputs. But viewers out of time on this edition of the so show.
Thanks so much for watching. Uh India market close comes up next.
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>> When the headlines move Hello and welcome. You're watching India market close on NDTV Profit. I'm Hirald Dia and with me is Mahima Vatrajani.
Maya, interesting day of trade. We've given up gains and that's the disappointing part that I'm seeing in terms of markets pretty much flat right now. 23672 below that 23,700 mark is what you're seeing right now. uh in fact you have bank nifty as well which has actually got into the negative terrain already seeing cuts of around 3/10 of a percent. The advanced decline ratio if you go to see is in favor of the bulls still but if you see the intraday chart of the A andd side of it let's just pull up that one on the screens and that will tell you the story there the way it's actually trying to converge now it's narrowed here your declines have increased and you have advances which have gone down so that's with regards to where the advanced decline market go uh ratio goes before we go ahead you know a couple of updates coming in from Iran where Iran is saying that the US message has reduced gaps to an extent. That's what we've been tracking right now.
They're closing gaps uh and they need US to abandon the war temptation. Uh apart from that, what they're indicating is that the US message has reduced gaps to an extent. I mean that's the only line that I read right now >> and apart I mean no major reaction coming in in terms of markets on the back of this as well. But we'll have we'll need further updates on uh the same as well. It should pause you know possibly some positive that we could see but I think uh just on the advanced decline ratio right we were almost 3 is to1 ratio now we are almost around that 2 is to1 ratio almost 50 less than 2 is to1 ratio in fact and um we've broken the important resistance that we've been tracking right 23700 levels is what we've been tracking continuously and that we've broken so I think that's that's the area of concern uh right now because once that resistance is broken we'll have to see as to where this takes support from year on. So, uh that's >> let's just look at the intraday chart of Bank Nifty as well because that'll give you some bit of cues and then we'll move on to uh the heat map there. There you go. The kind of profit booking that's come in there. Some bit of respite again, but we're still in that negative zone with cuts of 310 of a percent.
Let's look at the heat map of Nifty50.
uh overall yes more greens versus the reds but still I mean names like OMGC under pressure and that's because crude has been coming off and that becomes negative for an OMGC uh apart from that data consumer HL uh two names that I'm citing in the top 10 which are from the consumption pack you have financial companies which are under pressure so you have a bajach finance sam finance bajach finser and a kotak mahindra bank which are trading down and about parti is another one tech mahindra Infos is also from the IT pack. What's actually hogging the limelight today? Mahima is grassim. Absolutely on the way earnings have panned out what brokerages are decoding out of it as well. Indigo also on the back of crude coming off is taking some positive cues. Apollo hospital reacting to numbers. You have trend be HDFC live vro adani ports again on the stake purchase is in focus.
Hendalo continues the upper trade. So a very mixed picture is what you're seeing in terms of individual uh you know stocks as well. Uh let's look at the sectoral heat map to understand more with the broader markets. Mima >> yeah so uh for sector defense continues to lead the rally it's up 1.5%. Realy today after you know a couple of days is seeing some action now in terms of a buying go up almost a percent. Consumer durable is where we seeing some action up about.5 odd% but largely pharma PSU banks auto is where there's some positivity. Nifty clearly second in a row is seeing now profit booking FMCG also down by about 6 odd%. Private banks is where the major weighing down is coming in when it comes to the nifty bank uh plus the financial services end as well. Quickly if we can see the midcap 150 and the small cap 250 as well because we've come off from the day's high point but the nifty midcap 150 is almost flat but there's some relief at least where small cap 250 goes again off from the day's high point slightly but still hovering at least higher by about you know 65 >> and that's I think what is keeping the breath also afloat in favor of the advances to some extent so it's either the large caps or the small caps which are giving out some bit of buffer let's just quickly look at the components in terms of n 500 or bsc 500 Honeywell you know again Salman Capital Metro brands all of them reacting to numbers likewise here PI continues the industries continues with that downward pressure Jubilian food JK Lakshmi Bosch Imami all of them reacting to numbers so it's it's a very event specific reaction that you're seeing in terms of trade today but let's quickly take the viewers through as to what we can expect in the next 1 hour as well as what's happened tomorrow now sell on rice strategy is what we're seeing in terms of Nifty50 exactly what's the way it's panning out and we witnessed a sharp fall after opening we've actually uh you know it's opening 200 we opened 200 points higher and from there is where we've seen that downtick coming in in terms of resistance 23900 now you're seeing 23600 as the key support level as well now if 23,600 is broken will be a concern nifty is remaining below all your key emas and the momentum indicators that we've been tracking are still absolutely negative 23,800 that is the line in sand that we need to look at and it's reclaiming that to trigger a short covering rally towards 23900 to 24,000. Now the private banks they are the ones which have continued to drag Nifty Bank and Nifty50 as well and that has been the phenomena over the last two to three trading sessions where it's the private banking space the heavy weights there which are actually putting pressure value buying scene in small cap names and that you saw 610 of a percent higher there. So that's where all the action is right now and you know this is very interesting your it has continued to see profit booking today the expectation was that after Nvidia earnings after the commentary that we heard from Nvidia because of that positive positivity you will take Indian IT taking cues from there but does not seem to be the scenario because of that two to three day runup that has come in in terms of Indian IT that has not sustained real estate index is interesting three consecutive session of gains that have come in here so There is some bit of respite coming in on this front. Bank Nifty continues to outperform eight out of the last 10 sessions where Bank Nifty has actually fallen in trade and 53,200 is acting as a support level. 54,000 is a strong resistance. Buy on dips that is what you're seeing in terms of Bank Nifty as Lurel and this is as long as it holds above that 53,000 mark. If a breakdown is happening below 53,000, the target then shifts to 52,500.
So these are the levels that we are tracking so far. But let's get in our guest for the day as well. We have Jay Bala joining in. Uh Jay, good afternoon and welcome to the show. This is Hal on this side. My question to you is this tug of war in terms of markets has continued. The anticipation was that the setup in terms of Bank Nifty is seeming much weaker as compared to Nifty50 and a sell on rise kind of a strategy is what we're seeing with the kind of index levels we track right now. Uh how are you looking at it? What are you tracking and what are you expecting over the next couple of days?
>> Uh hi uh good to be here and see the the markets uh are doing what it's expected of it to do. uh the the April to um uh May rise about to to about 24600. That is the first step of the bullish move.
The pullback here has been choppy and despite negative news, the markets aren't pushing below the May low and uh it's not very clear in their extreme short term if the May low has completed the final push lower. Uh I was expecting the pullback to be somewhere in the region of 23300 to 23100.
um the cl that clarity will come through uh if uh nifty were to cross 24480 once that the 24480 is done the bottom is in the next leg up will be a very powerful move and it's going to surprise a lot of people on the upside uh so watch 24480 as an important resistance um once that's clear we are looking at the markets quite bullishly and yes uh the the banking sector is slightly uh lagging behind the nifty u but I'm Sure things are going to turn around there there too. Um so 2480 once that's turned around the the the the private sector banks are going to be participating and leading the rally. Last time uh up to the March highs it was the u public sector banks that was leading the way up. So watch for private sector banks to become >> uh J hi good afternoon to you. uh you know considering that every day we seeing the second half of the market to completely turn as to what was happening in the uh morning right um how does one trade right now what are the stocks that you still think have a lot of action left and there's more steam left what are the picks for the day that you would give to our viewers >> yeah um see as a slightly uh higher time frame I will look at capital goods stocks and just uh her just spoke about uh real estate sector uh the fact that it's bouncing for 3 days, it's just shaping up as a very important uh price structure. I had called out that the eal low of nifty reality was a very important low. Uh it's shaping up to uh rally to all the way to the September 2024 highs, the all-time highs. So the watch out for the uh reality sector to break out in the next uh few sessions and capital goods is something that I'm very bullish uh from a uh higher time frame. So in the near term uh you you can look at uh uh stocks within the space or you can shortterm is quite widespread. Uh I have uh when it comes to bullish candidates I have Tala platforms um with a stop loss of 481 possibly uh reaching past 695 to uh 700.
I'm also bullish on PCBL u Philips carbon black um with a stop loss of 260.
So both these two stocks also have bullish potential in the medium term. Uh but in the short term was all starting to look bullish here.
>> Okay. All right. So those are the picks.
But Jella what about something like a jubilant food works because um you know if you take a look at the Q4 numbers I think peers have done well this time.
West life um you know something like a United World did very well still today also trading much higher around 15 odd percent. Um, compared to that, Gibberin Foodwork has not been able to do well in Q4 on a higher base. Plus, the like for like growth was almost flat. Commentary also not looking very bullish. They're cautious when it comes to the first half of FI27. And that's why we're seeing the pressure being continued on that counter as well. But where technicals are concerned, do you think that this is where it finds its support and there could be some up move from here on? What are you expecting?
Yeah, one sector I've been avoiding consciously has been uh FMCG. I've been avoiding FMCG sector uh since uh 2024 2025. Uh but uh I still anticipate that sector to be an avoid and the recent rally that you have seen in the FMCG space could take the FMCG index to about 58,000. So any rally here uh within the FMCG space is likely to be accounted more within the longerterm downtrend. So uh keep that as uh what do you call a trading bet any any any I don't find the whole sector as uh attractive. There are outliers like uh Nestle and Dber uh but as a the frontline names ITC Britannia um Asian Pays most of them aren't aren't looking good. So as a sector it's an avoid and choose your picks here carefully and treat them as trading rally rather than uh a turnaround candidates for investment.
>> Okay. All right. And what about something like a PI industries? Because this is the second day where it's seeing constant pressure coming in. Do you now think it's found its bottom?
>> Yeah. Um PI Industries is a very interesting stock. Um it's uh uh it's still got some more downsides to work with and um I wouldn't venture into, you know, getting um long or bullish around here. It's probably got to do some more downsides uh somewhere closer to about 2500 2400 mark. Once it gets there, it gets a very strong support. Uh so you know the the right now the shortterm is not good but the medium-term potential once it starts trading near 2400 2500.
>> Okay. So that's PI industry is the pressure does continue at the day's lowest levels. But this is an important story. Sources are indicating that RBI is evaluating a multi-pronged measure to arrest the rupee slide. Uh Puch is here with us to tell us more. Pew, what are you picking up from your sources?
Because we are already talking about an intervention that is expected to happen on the 26th of May. But apart from that, any other measures that you're picking up from your sources?
>> Absolutely. We are hearing from our sources that RBI is holding internal meetings uh with all the with all the stakeholders with their staff the forex department and essentially the focus is on how to curb the depreciation in Indian rupee. We have seen yesterday the rupee hit around 97 level versus US dollar. Today the rupee recovered by around 80 say to around 96.20 20 level.
However, uh this continued depreciation in rupee something which is concerning the regulator right now. So there are multiple options that are on the table.
The RBI as we as we are aware just yesterday announced that they will be doing a $5 billion buyell swap and we are expecting the sources indicate that there could be more such dollar buy swap going ahead dollar and INR. Further the very anticipated uh uh talks on FCNR deposits that also is on the table. Uh although nothing has been finalized yet but this is something that RBI could launch to arrest the fall though there will be some charge that will be incurred but the gains are pretty high.
The inflows are expected at around 30 40 billion more than $40 billion if this deposit scheme is launched. Furthermore, the government backed sovereign dollar bonds also is being talked about. Uh RBI is further uh you know also likely to nudge PSU banks uh to raise their borrowings in dollar form. We are aware just two weeks back SBI announced that it will raise around 2 billion US2 billion via foreign currency. So all these measures are being deliberated upon. There is no final say yet but the RBI overall is working on a strategy to curb the fall in Indian rupee. Back to you >> right. Thank you P for that. You know these potential introduction of aggressive capital infusion measures will actually have a profound probably a short-term stabilizing impact as well when you talk about the Indian rupee.
However, it'll actually trigger say a mixed a very uh reallocation kind of a effect between Indian equity bonds as well as if you have to talk about the banking system as a whole. And when you're targeting a structural dollar inflow, uh rather than just spending your foreign exchange reserves, uh the RBI is actually signaling a transition from say a defensive spot market intervention to aggressive capital mobilization. That is what this means when you know when push is getting us all the details. It is going to be interesting to see uh the kind of impact it could have. Let's just pull up the INR right now and see what's happening in terms of the Indian rupee as we speak because uh there was some bit of appreciation that did come in in terms of today's session versus uh the kind of down tick that we saw yesterday. If you can just pull up the uh there you go.
You are still looking at levels of around 96.38 uh in terms of trade today. So this is going to be an interesting move by the RBI if it happens. Uh this is a sourcebased story that Puge has bought for us. uh but let's see how everything pans out because FCNR is something that the street is asking for as well as one of the best measures uh that could be adopted when it comes to uh arresting the depreciation that we are seeing right now but moving on grassim I don't know whether to call it the stock of the day whether that stock should be on in spotlight interesting moves at the day's highest levels strong cue for performance and there are lots of segments that were eyed pretty closely especially when you talk about the pain's division that's bila opus uh let me head across to my I mean colleague who's Mahima was sitting here and is now picking that up for us uh to tell us more mahima I mean you've been tracking this sector pretty closely uh was this something first which was expected from aggressive and two what is act what is it that has actually kicked the markets off to this extent on the positive side >> right so hil I think the expectation from the paint business was yes to see an outperformance but I think them saying coming out and saying that market share gains have happened was something that was not expected. That was the one thing that the street got enthused with.
And I think the second factor was the chemical business which has been a business um which is an over which has always had an overhang on the grassim business has now seen a revival. In fact, if you take a look at the CSF division that has seen a strong rebound and the VSSF margins have also expanded.
Overall marginled growth in the chemical segment is something that has also turned out to be very positive this quarter. Plus um paints largely led by execution and they've said that they aim to become the second largest player when it comes to the paint business and they're nearing uh you know it's interesting because they're nearing almost Burgger paints revenue. So that's something we'll be watching out for as to how they scale up from here on and how quickly they scale up from here on.
The next one uh with regards to the market share that they've talked about they've al seen a 90 basis points quarteronquarter market share again that's a very important uh data that the management has given and that's something that probably the street has liked very much and that's why we seeing an uptick of almost 6% in a nifty50 stock right uh now in terms of key management commentary for you know as to how things look like going forward they've said that they've kind of reiterated the goal of building a 10,000 cr profitable revenue franchisee by FY28 Eight variable costs are expected to decline through improved procurement efficiencies and this could improve margins as well going forward and the company still remains in the investment phase and will continue reinvesting surplus cash flows is what they've mentioned very specifically in terms of what to expect going forward of course could see some pressure considering how raw material inflation is going to take place plus volatility because of the Iran war grass plans to invest around 2880 odd crores through preferential issue in the alita capital as well. So that's also something that we'll be watching out for. Now, brokerages largely have hiked the target price this time for Grassim. Jeffre has gone ahead and hiked the target price to 3,600.
They're saying improvising uh the improving standalone business has driven the strong Q4 beat and that has driven the FI26 business. Overall, B2B ecom is expected to turn profitable by FI27 exit. City has also hiked the target price to 3,600. They're saying that the stock will be driven by cement and paints supported by VSF and chemicals.
Uh whole company discount should keep narrowing as paint volumes profitability rise and also on an elevated dividend from Ultrate Tech. So this is the overall view of what's worked this quarter and what lies ahead of Grassim.
So this is the reason as to why we've seen such an uptick in the counter.
>> Thank you so much Mima for that. In fact uh let me take this quick question with uh our guests as well. Overall you know if you have to look at the entire paint segment uh you had you know Asian Paints which was duling under pressure with the kind of market share that uh they lost but apart from that you also saw valuations become as cheap for Asian paints and that's what actually worked for them. Uh Jay, let me come to you. If you have if you have to look at a Burgger, Asian paints, grassim, uh where where are you seeing more constructive charts right now?
>> Grassim of course grass's got a excellent breakout on it longer term uh time frame, the weekly basically the weekly time frame. U I wouldn't be surprised if it rallies something to uh like 4,500 or even higher. Uh so it's got a very interesting breakout and um it's confirming the medium-term picture for me. Um I'd be a little bit cautious uh on Asian panes and burgger although I'm expecting crude prices to crash. Um so I don't know if that's going to bring the benefits to uh Asian pains and burgger panes. Uh but the starch there looks less bullish and as I said earlier I'm I'm being a little bit neutral to cautious on the FMCG space. I would treat them as um uh trading rallies rather than investment bets. But whereas Grassim looks like a very interesting chart.
>> Okay. All right. Of course. So that's the technical view. But we have Dhanjay also who's joined us now. J your view on this entire space because one side we're seeing uh you know as to how crude prices could overall see an impact in the first half as well although they've taken price hikes so volumes might be protected but um amongst the pain players right any particular one that you're liking and as to uh you know your commentary on how biddus has scaled so quickly and now almost is ready to take over as being the second largest player in the paint space.
So I think for the broader paint segment I think the increase in uh raw material cost is an very important variable to look at at this juncture. Uh companies have been able to are increasing prices in the in the in the anticipation of higher raw material cost. I think that is already happening. We think that cumulatively price hacks could be of the order of uh of 15% or there are 14 15%. And I think what companies have done is roughly about 2 3% in April also there's been some some hikes that have been there. So I think uh there is definitely a raw material cost pressure that is that is imminent in the near term. Uh so that is there and I think the space has been fairly competitive with BLA opas being there. Uh there has been rejuggling in the overall market share. Asian pink also was under a drag earlier on. So I think um that's the broader context of the paint market. So near-term it does look to be somewhat uh somewhat on the weak side. Uh with respect to grassim I think it has been a phenomenal journey in terms of the increase in the market share. You know they have gained about 370 basis point year on year and that's largely because of the distribution aggression that they have done the product >> that they have actually introduced etc. And I think the promotion activities been there. So it it seemed to have done well. Uh >> so grassim setup seeming to be much better technically and fundamentally right now as well. Thank you for that.
In fact stay with us. Now the government is aiming to maintain surplus supply and this is amidst that r rising power demand that we are seeing. Uh they are in action mode to meet the surplus requirements. Uh my colleague Saen is here to share with us the government's plan of action. Sa what are you picking up from your sources? Good afternoon.
>> Right. So, you know, senior officials from the Ministry of Power presented the government's action plan to tackle the surging demand for electricity during the uh summer season before the parliamentary standing committee on energy. Now, officials told the committee that the electricity demand rose from 256 gawatt in April to uh you know uh 265 gawatt in May and it could even touch 271 and 283 gawatt in June and July respectively. Now under the emergency plan, the Ministry of Power has decided that all power plants across the country will remain operational during June and July. No power plants will be permitted to undergo maintenance during the period. Now this is expected to yield a surplus power supply of approximately 15,000 megawatt. The you know committee was also informed that power companies in the country currently hold a coal uh stock reserve sufficient for 18 days. uh now following disruptions you know to natural gas supplies some power companies have placed order for natural gas also from Nigeria. Now it has also been decided that hydroelect electric uh power plants will not be operated during the day.
Instead they will be kept operational exclusively during the night. So all these you know uh is expected to uh help in tackling the surging demand for electricity this current season.
>> Thank you so much for that. you know we need to understand what how is this going to really impact uh you know Indian companies as well. Rupes Sanank senior vice president research atro capital joins in rupes uh good afternoon and welcome to the show this is sir on the side uh I'm sure you've heard the story what sa has got for us in terms of government's emergency plan and this is to tackle the surging electricity demand now yes the plan is in place uh what do you make of this?
Yeah, good afternoon. Uh certainly if you look at the uh the installed capacity available is 550 gawatt and effective capacity available at any point of time is close to 300 G. So we are 275 280 gawatt kind of a cap uh demand we can handle uh with better resource management like supply side management as well as demand side management. So supply side management definitely some of the gas based power plant which are running at very very low PLF could see some sort of in operation as well as imported coal power plant which are already under section 11 can be come for the production and some sort of a demand side management like time time of the day kind of a mechanism might be there but 275 gawatt kind of capacity we can easily handle because in the last two years we have seen close to 90 gawatt capac capacity addition has already happened and that can take care of incremental 25 GB kind of a capacity.
So two years back the capacity 255 GB. So 275 280 we can easily manage but certainly the companies like Terrain Power or Tata Power or where the company's plant got impacted because of low demand in the last two years might see some benefit because of this know increase in peak demand as well as we might see some better exchange volume on the ex front. So overall positive for the companies who are dependent more on the merchant like Adani green NTPC is there as power to power ex they certainly will get benefit because of this high incremental peak demand as well as the coal India might see some better euction realization because of this higher peak demand. Okay, Rupesh.
Uh the other aspect is with regards to the renewable angle of this. Where do you think will solar and wind contribute? Uh because that is the one advantage that we can take. So how do you read that situation?
>> Uh definitely I think few sites like in Rajasthan still solar curtailment is there because transmission line is not got connected. So that will take another 3 to 6 months. But uh we'll see a lot rapidly deployment of a battery storage or a solar plus battery kind of tendering happening uh in the near term.
Uh so a lot of push is there to bring battery storage in place so that we can store this express generation during the uh the high radiation daytime and we can utilize during uh on the peak evening demand. So that is there on the card. So a lot of activities will happen the transmission uh issues which are there we'll see a lot of uh no clarity there also I think the entire ecosystem is gearing to handle this kind of peak demand in the coming years. So I think this is good for the renewable energy which are stuck uh and may see some light uh in terms of PPA signing from the discom for that interesting angle here with the kind of benefits that could be flowing into power companies as well right now.
Uh IEX is another one. Coal India is another one that could be a beneficiary of this emergency move that the government is looking at. We'll come back to our guests uh shortly, but let me go across to my colleague Somit Sarkcar who's standing by uh to tell us what is he picking up from all the chatter in the dealing room. Uh Som, >> lots of stories that are breaking in in terms of what the RBI is expected to do when you come to talk about the Indian rupee. Now you're talking about a power sector story break that SA has got for us. Uh what are dealers telling you?
>> Well, a host of stocks that dealers have also highlighted. Firstly, it's Panama Petro. Now indicating that a large prominent HNI has been accumulating this counter in trade and they're also expecting a strong set of Q4 numbers coming in from Panama Petro. So keep an eye out for this counter. For JSW energy the company did announce yesterday that they have initiated their QIP. What dealers are indicating is that the demand has been very strong for this QIP and large long only funds are subscribing uh to this fund raise. For Ashok Krillland, there are buy flows on the large H&I and PMS desk. Dealers are expecting strong margin beat in the fourth quarter of FI26. For Dalmia Bharat, yesterday the company did announce that they will look to consider fund raise in their next board meet. Now what dealers are indicating is that this would just be an enabling resolution and there won't be any concrete uh decision on this fund raise. Even last year the company had taken such uh has taken shareholders approval for such a fund raise but nothing had come out post that so not much not not any fund raise uh decision would come in from Dalmia Bharat side and lastly for warun beverages there are buy flows on the institutional desk both di and fi have been accumulating this counter and delivery volumes are expected to be on the higher side >> okay all right so thank you so much for getting us those data I think wun beverages is the one uh stock that sits with me. But Jayala, your view on the charts for this one. Uh what are the support and residence that you're seeing for Warren Beverages?
>> Yeah. Uh see what is starting to look good. Uh if it does take out um uh 540 535 535 540 uh it probably is signaling it's just not uh just a short-term up move. Uh if it cross 540, it will be slightly a medium-term longerterm turnaround. But post 540 there's there's one pullback that's due after that but that might be uh a bullish opportunity for the stock. So the stock has got support at about 480 and uh short-term resistance at at 535. Uh but cross of 535 would be a very important signal for the stock.
>> Okay. So that's what beverages the let me come to you on the banking front. you know from a technical perspective everyone's of the opinion that the setup is looking very weak when you talk about banks bank nifty as a whole uh and especially it's the private banking space which has been on the back burner versus uh the PSUs uh from the way valuations are panning out the way Q4 numbers have panned out getting into FI27 uh as a year would you be a buyer and if so what would your top picks be >> so I think if you look at the fourth quarter there were expected ation that there will be a revival in earnings for the banking space given the context that credit growth had actually picked up to almost like 14 15 plus% uh from from about 11 odd percent. So the expectation was that this would translate into better earnings um ni growth etc and nim spread as well whereas what you've seen is that it has been a fairly mixed performance and uh I think the larger banks have actually seen fairly weak uh operating performance uh in terms of the n's growth and the n's you know margins as well. So I think uh there are reasons why various banks are telling why it has been weak. But I think from a forward-looking standpoint we do expect that uh the liquidity scenario could tighten uh the GCSEs have actually gone gone beyond 7 10 or thereabout. Uh so we are expecting that as inflation moves up there can be rate hikes later this year.
So the cost of fund for banks but actually increase going forward. At this juncture, it doesn't look like banks have the pricing power on the lending side. Uh there hasn't been a any major uh uh qualitative improvement as far as the lending growth is concerned. So my sense is that uh for the next one year assuming that inflation goes up to 6 7% from a headline CPI standpoint uh we do think that uh the banking sector might actually underperform. Uh so that is where it is. I think the PSU banks have actually taken a major hits. SBI in particular uh and I would say that it'll be better to be with banks who can actually manage their ALM asset management liabilities better. So I think uh some of the large private banks can available at cheap valuation can do.
>> Got okay. So that's that's the view with regards to where uh the uh the nifty bank goes and bank constituents. But now also let's take a look at uh you know what's happening with regards to where bond yields go. Uh we have Shah joining by who's trying to break down what high bond yields mean for your portfolio and where the tilt should be. Shah >> well yes the name is bond bond yield.
Interesting high bond yield. I'm sure you must be getting worried about it.
What happens to my portfolio? Well I'm here to decode it and you can relax. So let's start with it. Why this high yield scenario comes in and which assets should be there in focus especially in equity, banks, insurance, energy and most importantly dividend paying stocks.
This is where the alpha is made during these times. Also other asset classes are there and if you are having mutual funds there is target maturity funds, dynamic bond funds and corporate bond funds as well and also also make it to my list. Inits are also there. So they do offer some safety here. But let's move on and keep a focus on dividend paying stocks because we are focusing on the equities. Stable income for the investors defensives are at play and largely if you look at it the utilities, FMCGs, PSUs and select metals are the plays if you are investing in the dividend paying theme also there are infrarit invit and I checked the last 12 months 9 to 19% of dividend yield is coming in. So that itself is very much rewarding. But which are the stocks? Of course there is growth angle but there's a dividend yield angle. And look at this largely we have OMC's interesting name.
Uniats makes it to the list. Balori Quest Cop all of them in the last 12 months have given 7 plus% uh dividend yield. This also includes GSW Dulux. We have two logistics companies also in the list. Gujarat Paw and Gateway District Parks followed by Coal India and Honda India Power. All of them are giving 5% plus dividend yield. But let's get a little bit deeper into it. OMC's there is a volatility at play especially on the pricing and the refining margins.
Also, if you look at it, the next stock is UniTaths India. The construction equipment business demand is strong especially in the second half of calendar day 26. So, keep that in your watch in your portfolio. Balori, it's largely you could say a holding company and their travel segment has been doing well off recently. Also looking at the other stock is Quest Corp. Post de merger better valuations have come in despite the wage court impact and looking at the others company is JSW pays recently it was acquired and now more distribution networks will be added Gujarat Pipaw a future dividend deal might be under a pressure because of capex pressure and looking at gateway district parks over here there is a beneficiary of the dedicated freight corridor that's what the analysts are bullish on and also looking at the other few stocks coal India pricing and realizations are expected to remain stronger going ahead and the last stock Honda India power that's where the demand and costing might be impacted because of geopolitical tensions. So I've given you the entire list of the dividend paying stocks where the dividend deal is strong. Thank you so much for that. You know this is an interesting play uh you know that you've given out to all our viewers as well.
Thank you Shahhat for that. Uh Danja let me come to you a quick question. A dividend yield play you know in terms of the way bond deals are panning out. Do you think that's the right way to look at it right now?
>> So I think as far as the dividend yield is concerned, it has to be companies that benefit from higher commodity prices. Um so you know cold India I think somebody mentioned that is a that's an excellent dividend dividend uh yield play because you'll have higher energy cost higher coal prices that translate into better profit and also uh you know it is also a PSU companies which actually offers a fairly fairly high dividend yield. So I think that you know one can look at some of the commodity players who are stocks that are that can give better dividend yield.
So I think going forward past uh history is is a track record to really look at but I think going forward since the since the earnings are going to be volatile in a context where the cost of raw material will decrease uh we have to be fairly selective and look at sensitivity of rising cost with respect to topline. So I think material space is relatively better for dividend.
>> Okay. All right. Uh so that's of course one perspective but of course keep in mind that most stocks that have high dividend yields do not give capital appreciation uh as much right so always keep that in mind but with that uh Danja as well as J thank you so much for taking out the time and of course giving us with uh giving us all your views on the stocks that we discussed on the show and viewers it's time to slip into a very very short break but don't go anywhere we'll bring you top buy today sell tomorrow calls on the other side of the Guess who?
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Welcome back to India market close on any TV profit. Now clearly if we can just pull up Nifty50 once again on the screens along with Back Nifty to take a quick check uh before we just like what 20 minutes away from closure but uh you know we're very much stagnant from where we started off in terms of the show today. Uh flattish moves below the 700 mark is what you're seeing already. Bank Nifty as well 53,500 is what you're tracking a mild recovery from the day's lowest levels that has come in but still in the negative uh you know to talk to us further Venit Bulinkkar from Ventra Securities and Rajesh Palvia from Access Securities joins and welcome to the show gentlemen always a pleasure to speak to you as well uh Rajes let me come to you with the way markets have been panning out you know we've been talking about this push and pull uh you are seeing you know selling at higher levels and probably a buy on dips kind of a strategy that has continued over the last couple of days. Uh if you have to look at Nifty and Bank Nifty, where are you seeing strength?
>> Yeah, good afternoon. So buy on dips and sell on rise both strategies are working in these kind of markets. Since last five six days we are seeing that you know whatever you know gains Nifty is trying to maintain during the day is you know again you know meeting to the supply pressure 23800 zone is acting as a uh ste resistance for uh any kind of you know up move which we are experiencing in last couple of days for the nifty on the downside 23300 is the acting as a major support area but again uh in this volatility uh broader market is showing a different behavior and uh uh we are witnessing a lot of stock specific sector specific action in this market and uh looking at the overall scenario for the market we believe that you know uh nifty is poised to give breakout of this uh uh you know supply zone which is there based on the call concentration of 23800 and I think once that breakout takes placeh we could see a very sharp up move in the market as it's almost six five to 6 is in a range itself and the broader market is showing sign of confidence. So uh we are waiting for that breakout to you know add more position. Uh at this juncture uh 23,500 is the stop loss on the nifty spot to hold the long position. Any minor dip should be used as a buying opportunity.
But yes, Bank Nifty is still struggling to cross major supply zone which is placed at around 53,800 54,000 which is very important and crucial for Bank Nifty to cross. Uh once Bank Nifty crosses those level I think then here also in Nifty also we could get more you know uh comfort and support uh for you know moving further higher.
So till bank nifty is not crossing this level I think uh we may see the rangebound activity but uh looking at the broader market we are optimistic and we we feel that you know uh there is a possibility of higher side breakout >> okay so that's with regards to nifty and bank nifty Rajes any topics today >> so two stock ideas where we are focusing first one is from pharma space Glenbach Pharma is looking attractive uh the way a stock is uh holding about all its near-term short-term moving averages. Uh we believe that you know stock has potential to surpass its previous all-time high trajectory also. So one can buy and accumulate Glenmark Pharma for upside target of 2450 to 2470. On the downside, one needs to keep a stop loss towards 2330.
Uh the second stock where we are focusing at this juncture is GMR airport. uh stock took support from its 50-day moving average and now negotiating to its uh uh 20-day moving average uh supply zone. I think uh looking at the buying interest, we believe that you know this stock can extend gain 104 105 we are projecting target on the downside 93 needs to keep as a stop-loss.
>> Okay. So that's with regards to topics coming in there. In fact, GMR reports is at the day's highest levels gains of 3% coming in there. Uh you know Venit, let me come to you. uh interesting names that are moving in trade today. I mean, Grassim has been one of them. We've been talking about it as well. Uh but from the new age companies, Lenskart is one counter where it's a pretty mixed view coming in there, you know, not here, not there. Stock seeing gains of nearly 3%.
Uh any views on this one?
Lenskart has captured the imagination of the markets and I believe that you know if you go into the interland you know the there the market share gains are coming in very handsomely for the company and given these facts you know I think that uh the revenue growth spike that we have seen will sustain going ahead and soon will also have net profit levelhead continue to remain positive and there's a huge stand unfolding and because they are able to you know kind of build leadership I think they should do well going ahead >> so that's with regards to where Lensard goes in fact Mahima is already waiting to tell us whether the bull case is better or the bear case is better uh bull and bear case scenario coming in for lens cut mahima over to you >> right so Han I think Q4 uh we'll give that credit to them that has been a stellar quarter uh in terms of how uh you know the growth and margin expansion has been because Q4 saw almost a 41% growth in terms of their topline. FI26 as a whole has also seen a growth of 32%. uh but on the at the same time you know we've always talked about this we talked about this during the IPO as well that valuations were never cheap and are not going to get cheap because uh FI27 estimates are suggesting a P of 104 times and FI28 at that almost 75 times so it's not going to get cheaper in the next two years as well but um with regards to how you know the expansion goes massive margin expansion shows kind of uh you know the operating leverage has kicked in FI26 IATA has nearly doubled with margins expanding almost 370 basis points but at the same time execution is a risk considering how they are going very aggressive when it comes to the store expansion especially in the tier 2 tier three cities. Now when it comes to the store expansion uh of course it is an opportunity definitely execution is a key but it is definitely an opportunity because tier 2 is very un underprinted when it comes to the organized space when it comes to eyewear right but at the same time um aggressive expansion could kind of put pressure on cash flows in the near term and going forward as well right because overall if you take a look at how you know capeex has doubled in the past couple of years cash flows have been under pressure and could be under pressure considering uh the expansion as well. Uh in terms of their international business course, it's been a star performer for them.
Business is becoming a real profit engine for them. Overall, international margins also improved sharply and Japan and Saudi Arabia are performing ahead of what the street was expecting. But at the same time, I think uh that currency depreciation is a key risk when it comes to the international business considering that we are seeing in depreciation depreciating that's something that we need to keep in mind.
Uh lastly in terms of where uh the competition goes their strong competitive mode is through tech and manufacturing. They've uh you know they have backward integration they are using AI in all of their operations but at the same time um when you take a look at the return ratios they're low despite of the growth and this is because of the cash flow problem because if you take a look at the projected ROE and ROCE for FI28 roe stands at only around 11% and ROC just at 8%. So uh you know this is one of the important metrics that every investor tracks and that is something which is also an area of concern here.
So this is the overall perspective of the bull versus bare case. Of course quarter 4 fi26 has been strong here but valuations and return ratios are still a concern and overhang on the company.
>> Okay and that's the reason why the bull and bear case absolutely fits well for this one. Rajes in terms of new age companies you know I mean you can call it for a lens cut or a grow eternal swiggy uh you know brain bees all of them have seen very interesting moves on the charts do you find anything that's interesting >> so uh if I go with all these companies uh I think uh most of the companies have shown you know descent really but you know uh other really has been fizzled out and most of the stocks now in consolidation or slightly in the bearish trajectory be it swiggy eternal or even lens card is still enjoying uh its uh you know breakout level which we have witnessed uh on the near-term short-term chart so looking at the today's reversal uh in the lens I think now stock uh is negotiating with its 20-day moving average supply zone so if stocks able to uh surpass 510 then we could some more buying interest in this counter. But those who are already on the long side of trade should follow the 480 as a stop-loss. Uh if someone look for little longer term uh you know stock from this basket I think eternal is looking more promising from this space uh stock is uh you know after this corrective move stock is trying to make some you know base building activity here. uh 210 215 is the important level for on the downside and the stock is comfortably holding above these level. So I think eternal can show good amount of you know really going forward but uh one needs to uh you know buy and accumulate and our horizon is around 280 to 300 for next 6 to uh 8 month. All right. So that's the view on a lot of these new age tech companies that Rajes just gave. But time to take a look at Bosch because it's under pressure after the management remains cautiously optimistic for FI27 amid geopolitical uncertainties and supply chain risk. Punit joins us with an entire perspective of what happened post the management call. Punit over to you.
>> Well uh thank you for that. It's definitely a good set of numbers for the company, but the commentary as you rightly mentioned driving the stock down today. So revenue up 13%, EIA up 20% and margins at 14% was one of the highest they've done. But when you look at what's actually impacting the stock, there are three key things. The first one being that uh they've said that while the domestic economy largely remains steady and that was a key positive reflected in the numbers as well. uh FI27 outlook currently remains cautiously optimistic is the word that they've used at this point of time which shows you that you know while the current geopolitical scenario is uncertain for H1 Bosch is going on with a cautiously optimistic kind of a scenario and not guiding for a very strong growth at least for now they've also said that cre priorities will be to enhance the supply chain at this point of time as well as manage the commodity as well as currency risk which they have the second key one geopolitical risk because the Middle East conflict continues to be uncertain. The third one was on semiconductor shortage. They had mentioned that while it has been resolved in the near term, overall supply chain continues to be remaining fragile at this point of time and hence uh the uncertain outlook. Finally, there is some key triggers that you have to watch over the next year. Cafe 3 norms will come in April 2027. So, you will start to see rollouts of models as well where Bosch get benefited. uh regulatory requirement for the ADAS business for the two wheelers will be also something to watch and finally the new joint venture announced with wheels India both those stocks wheels India's stock is up today as well that will be key because now they're looking at joint ventures for new product developments as well >> right uh Punit stay on because EPAC durable is something that you track very closely and that's also in focus reports of weak set of Q4 numbers and profit has declined 100% I mean what does that even mean and why has that happened Well uh the the the key aspect that you know the AC business has continued to be in a downtake momentum and hence you've seen that impact on EPAC durable as well. So one of the key you know revenue profile of course is visible on and stocks now gone down to 10% 10.3% now revenue is down 8% but the AITA is down 64% for the company and hence margins compressing by 670 basis points profit had a 99% fall essentially being wiped out and the reason for that we'll get to in just a bit the segmental sales also you see 25% degrowth uh or fall essentially in the revenue for AC business while there have been components that have done well. All the other segments haven't been able to comply because 60% of the revenue comes from the AC business as well. But essentially what has happened is that uh the company has not hit the revenue target to get the PLI benefit. So the 9 month number for PLI benefit was 32.4 crores. The company had actually had to reverse that in the last quarter and hence the whole profitability has been wiped out. When you look at the FI25 number, the PL number was 37.4 4 crores and the profitability was 55 crores. So largely you see the proportion of the PLI income on the total net income of 55 crores. So with this 32 cror reversal you've seen a wipe out of the profits in quarter four and a fall uh in the whole year as well.
>> Okay Pune thank you so much for getting us those details on both poss.
Um Rajes, I'll take your quick view on EPAC specifically because you know uh we've we saw a good green candle yesterday and today we've seen a down on the back of how numbers have fared but um you know your view technically do you think that this is the bottom it's found there could be some bounce back from here on or there there's still negativity they will which will you know continue because volumes are not that strong today as well.
So Maha if we look at the little you know medium-term to long-term structure structure is still on the weaker side the stock is moving in downs sloping channel on a weekly as well as on the monthly chart which is a sign of you know uh sustained downtrend is uh uh you know in this counter uh even on the monthly chart as well as on the weekly chart the major supply zone is uh placed at around 270 280 zone which is very important for a stock to you know cross this level. Once a stock crosses this level, then uh there will be a change of stance on the long-term chart as well as on the medium-term chart. Uh even on the near-term chart, stock is still struggling to cross 20-day moving average which is placed at around 260.
Even the in the previous day uh up move 260 acted as a major supply zone and again stock corrected. So uh bottom is still not done. uh stock needs to cross 260 270 trajectory at least to you know confirm key yes bottom is uh taken place at this juncture still risk is there on the downside if stocks breaks below uh 215 >> radish I'm going to interrupt over here we just have ITC numbers which have come in the profit number has come in at 5,13 odd crores versus an estimate of 4,900 crores so marginal be there almost a 200 crores uptake coming in in terms of at the net profit number goes uh that's the only number that I have right now but 5,113 crores let's just pull up ITC uh chart on the screens and see what's happening on that one if that stock is reacting yes a mild spike that has started to come in in terms of ITC on the net profit number that is flashing on the bottom of your screens that's the first cut on NDTV profit uh ITC 5,113 odd correspensis basis revenue has come in at 16,000 51 versus a estimate of 18,000. So that's a major downtick coming in in terms of the top line. But on the bottom line front, it seems a beat of around 200 odd kores is what we are seeing.
Mahima is just trying to open the release and get all the details as she tracks the space closely. But man, a quick first cut in terms of ITC >> a mixed bag. I think they've been able to grow their margins but you know fall in revenue is something that we are not expecting and uh hence in my opinion it this remains a mixed bag.
>> I think you know largely if you take a look at how you know the IDIA number could be impacted is because of the excise number. I mean just look at that a 1,300 cr of for Q4 FY25 versus that of a 5,000 cr on the back of of course the duty hikes which we've seen for the cigarette business and that largely impacts the bida number. Let's see as to you know how those numbers but overall I think her profit is a beat which was not expected honestly and um you know overall profit being a beat is something that's possibly you know making that stock spike as we speak a percent higher um revenue you know this this revenue would largely be impacted because of the price hikes that they've taken and that could impact the volumes the cigarette >> the numbers 6,426 odd kes is what we're tracking what was the estimate looking like because 426.
>> So 5,900 is what? So it is beat.
>> So I think in terms of the profitability, it's a beat. In terms of operational matrix also it's a beat.
It's only on the revenue front where it is a downer and that's where the street is reacting in terms of where uh the overall the stock goes right now. Venit overall if you have to look at ITC from here on what are the key monitorables because apart from the three numbers I know volumes is one part of the business. Maya if you can just tell us what is it looking like in terms of uh the cigarette business revenues because that also becomes uh crucial over here.
We've seen that excise impact. I don't know if it'll come in this quarter or will it be in the first quarter of FI uh >> so partially in this quarter as well but cigarette numbers have been slightly better at it was at around that 8,700 crores in Q4 FI25 but that's increased to almost 11,000 cr in this particular quarter. FMCG overall uh has not done much just a 300 cr of an uptake is what we seeing in the FMCG business was doing in terms of Q4 FY25 as well.
So cigarette business is where probably there is some but 5,488 on account of price also not volume.
>> Yeah. So the price so the volume number will become crucial because after the price hikes that have come in the question was whether the volumes will dip or not ven cigarette ebit at 5,488 odd kores is what you're looking at in terms of the overall ebitita for ITC 6426 odd kores and you have the profit number also which is beat estimates uh with these numbers I know you've given your first cut a mixed bag taking the top line and bottom line into consideration but when you're looking at the ebitita and the ebit number for the secret business any comments that you So I think they've done relatively well on the managing the operating profitability but the mood question is you know how do they manage their uh business in FMCG I think it's not done that spectacularly well and my take is that you know the company has been growing uh but not consolidating on the you know their rollouts that they have done. So uh existing businesses are remaining stagnant while new businesses that they launch are adding to the revenue. So until and unless you know your already rolled out products if they don't gain traction I think somewhere the market recognizes that also you know they're losing market share in uh in cigarettes. So keeping all these things in mind, you know, for me it's going to be more of a a drag on the entire performance.
>> MCG is also a drag because the expectation was that the FMCG business will grow at least in early double digits around 11 to 12% is what the street was estimating. But unfortunately that growth has come in only at 5%. So >> look at the look at the stock look at the stock chart you know from that spike that we saw it's actually cooled off.
Muri also joining in. Mayures uh uh understanding that you have the numbers the profits have actually beat what the street was estimating revenues have been below uh your cigarette ebit has come in at 5,488 odd kores your ebita also has beat estimates but as you know mahima was just pointing out that the cigarette ebit is mainly in terms of the price hikes that have come in does not seem to be in terms of volume growth and if you're talking about the FMCG business I think that growth is also a downer as compared to what the street was estimating How are you reading into the numbers?
Because uh the stock price is not really giving you a good picture right now. It saw an initial spike and cooled off completely right now.
>> It was expected that the cigarette uh effort will be higher because of the price hike that they had taken not seen the granularity of numbers but the other FMCG business if they are below par. uh I think that is a cause of concern because then you're probably looking at uh some element of an impact in the coming few quarters both in terms of input cost pressures and some part of the early line effect playing out uh leading to a possible demand contraction. Uh the other business X cigarettes uh uh might actually have a poor or a subpar issue going forward as well. And uh uh in terms of the overall numbers, my own sense is that the bottom line is better than what the street was probably estimating. Uh but the revenue and the absolute EITA number a tad bit below.
>> U any idea or any estimates as to how volumes would have fared this quarter uh considering that there was price hikes which could put pressure on volumes eventually. So any any rough idea of range in which volumes could be?
uh it it might be mid single digits but we'll have to wait and watch out for the same and again I think the commentary thereof because I think their competitors have probably just alluded to a lot of factors related to how secrets uh might play out even for them in the next few quarters so my own estimate mid- single digits is something where the volume growth might have >> all right so you know I mean volume growth is the key that we'll be watching out for thank you may uh thank you Rajes and thank you Vinit for joining in always a pleasure to speak to And we're pretty close to uh closing levels. But yes, we are closing pretty much on the flat line 23,650 is what you're tracking in terms of nifty50, bank nifty as well.
Downtake of around 2/10 of a percent coming in there. Flattened line on the midcap 100 and if you look at small cap 250 as well. That was where the growing shoots were. Let's see if the small cap 250 is also indicating any bit of an uptake. But clearly the pressure has continued. The advanced decline ratio has remained absolutely kind of steady from where we started off uh the trade in terms of the show today. If you can just quickly pull up the small cap 250 on the screens as well and see what's happened there. But 23648 is what you're tracking there. There you go. Pretty much there is 7/10 of a percent higher in terms of small cap 250 as well. So that's where the buying has been. And if we can just have uh the heat map in terms of nifty50 to understand if any moves came in on that front. Grass, Indigo, Apollo, I mean more of reds now versus the greens. ITC absolutely on the borderline. Uh you know FMCG name some of them under pressure. Tech Mahendra under pressure with Infosys and you had and a Tata consumer and you had some of the financials which also came in under pressure today. But Grassim kept uh the gun shooting. Indigo was up in trade.
Apollo hospitals reacting to numbers.
HDFC life max healthcare. So some of the pharma majors along with a hindalo and repro in fact hindo will be reporting numbers tomorrow. So that's going to be interesting to watch out for as well.
But clearly again it's become a even Stevens market. That tug of war is something which has continued. We're ending at 23,654 below that support level of 23, uh700 that we've been tracking closely. Uh let's see what comes out of uh the you know council interministial meeting also which is slated today at 5:00 p.m. Any announcements there will be important.
uh power uh we've already heard and you have the RBI interventions that will be uh keenly watched out for but completely out of time with that it's a wrap on this edition of India market pros from the team that put the show together Mahima and myself lots more lined up on the other side please stay tuned to NDTV profit Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
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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.
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On editors cut, our editors come together with experts to distill the week's information plates into clear perspective.
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New York, New Power, India Market open.
>> Good evening. You're watching Market Express with me Shanti Singh and this is the show that gets you a snapshot of everything that has happened thus far in the trading session. But before we do that, let's quickly take a look at the markets. First things first and the last week in fact ended another volatile day of trade in the red with the nifty closing near the day's low and even the Sensex also shedding nearly 200 points.
Traders remained cautious throughout the course of the session amid global uncertainty while profit booking in heavyweight sectors. That's something that kept markets locked in a narrow range as well.
Moving on then, let's also talk about the sectoral picture at close. You know, you do have it and FMCG stocks that drag benchmarks lower while resilience in realy and auto counters really help limit the downside.
And moving on, let's also talk about ITC that reported its numbers just a little while ago. So you would not looking at much of a reaction coming in because this was very close to the market closing as well. But you know when you talk about the operational number it's a good set that you're looking at that's coming in well ahead of estimates as well and profit beating expectations in fact. But when you talk about the revenue that's fallen short highlighting a little bit of demand pressure there.
It also announced a final dividend with the record date also set for later this month and that's the update that you're looking at.
onto Saman capital that completed the cleanup of its trouble legacy book with bad loans dropping to zero and no fresh provisioning needed that gives the lender a much cleaner balance sheet as it enters a new growth phase and that's something that the street was steering as well with that 9% uptick coming in fact the company is also laying out an aggressive expansion plan even as the March quarter slips into a sharp loss on account of one time hits as well and onto EPAC durable that reported a weak set of numbers Because in terms of the operational quarter, revenues under pressure, margins sharply lower as well.
Profit is nearly wiped out impacted by the reversal of PLI income which also weighs on the fullear performance. The miss on profitability in fact remains a key concern despite some support from operating gains.
And onto Sansa Engineering that delivered a strong set of numbers. And look at the street also cheering that with that 15.4% uptick coming in. the double digit uptake coming in for this particular counter today. And when you take a look at the earnings fine print, it's clear why the stock was buzzing away in trade. You're looking at robust growth across revenue and profitability, margin improvement. In terms of the margin improvement, that was a quite sharp improvement as well, aided by a better mix. The order book also remains healthy with strong visibility going forward while international business continues to drive momentum with faster growth.
And moving on, let's talk about brokerages that remain positive on something like a grass that was also buzzing away in trade. 6.4% uptake coming in on this particular counter.
And you do have both Jeffre and City maintaining a buy call. They are seeing a strong finish to the year driven by improvement in the core business with momentum expected from cement and paint.
The whole core discount is also seen narrowing supported by paint's growth as well and steady dividends coming in when it comes to ultra tech.
And onto the brokerage view coming in for something for some VNA mothers that was also buzzing away in trade about a 4% uptake coming in here. And when you talk about the brokerage verdict, Jeffre and Morgan Stanley both remain quite positive on the growth outlook driven by new businesses like electronics and aerospace. However, city sts a little bit cautious flagging cost pressures and concerns on global demand even as recent results offer a little bit of support.
And onto Apollo hospitals that reported a strong set of numbers in the fourth quarter with growth across key segments led by higher hospital volumes and better pricing as well continues to support performance while the healthcore business also delivers healthy momentum keeping the overall growth trajectory intact. When you talk about this particular counter it was also buzzing away in trade with that 3% uptake coming in.
And on to something like a lens cut that was in focus. Morgan Stanley stays positive on Lens card after another, you know, strong quarter really coming in.
Growth momentum remaining intact as well and the focus is on sustaining volumes while margins are seen stabilizing at healthy levels, expansion into smaller towns and steady store additions continue to support the long-term growth story.
Onto Med Plus that reported a strong set of numbers in the fourth quarter as well. 3.7% uptick coming into this particular counter and you're looking at steady growth when it comes to both revenue and profit. Margins remain stable supported by a rising share of private label products and the continued shift toward higher margin offerings is something that really helps sustain overall performance momentum.
And onto Jubilant Food Works on the flip side that reported a muted set of numbers weak same store growth is something that you were looking at.
Pressure across core operations also weighed on this particular counter down about 7.8% and closed profit decline despite some margin improvement while cautious management commentary as well.
That was something that kept a little bit of a caution really maintained in this particular counter under performance versus peers is also something that weighed on sentiment onto the brokerage verdict coming in here as well. When you talk about jubilant now this stock was under a tremendous amount of pressure but when you talk about the brokerage verdict as well Jeffree stayed constructive but cut its target price Morgan Stanley remained neutral citing margin headwinds while mquiry that's the one that stayed underweight plugging growth concerns going forward demand recovery and cost pressures remain the key monitorables going ahead let's also talk about boss that delivered a steady set of numbers with healthy growth when it comes to revenue and margin supported by stable domestic demand however Shipments take a hit from geopolitical disruptions even as supply chain issues ease. Management remains cautiously optimistic with focus turning to resilience but also cost management and even future growth triggers.
Onto nuclear software that deliver a solid set of numbers in the fourth quarter and look at that 8.8% gain coming in that should tell you a little bit bit more about the earnings fine print as well. But you know when you talk about the sharp jump in profit that was quite the trigger coming in. Revenue growth also remained steady. Margins see a slight improvement reflecting stable operations. Now in terms of what else has happened this quarter the company's also announced a final dividend of 12.5 rupees per share signaling confidence when it comes to performance but also cash flows.
There's also talk about imami on the flip side that reported a weak set of numbers that weighed on this particular counter as well. downtick of about 3% on the back of pressure on both revenue and profitability. Margins contract sharply and even the profit decline on the back of softer demand. The domestic portfolio when you look at that as well, it remained resilient. But headwinds in the international market is something that investors were tracking especially due to ge geopolitical issues coming in that continue to weigh on the overall performance.
Let's also talk about BWok India that delivered a strong set of numbers with sharp growth in both revenue and profitability. Demand for flexible workspaces remains robust supporting higher occupancy but also better realizations. And when you talk about this strong set of numbers, it's really lifting sentiment with the stock really rallying in trade following the results.
Look at that 19% thereabout gain coming in on this particular counter.
Let's also move on and get to some more news and updates. The Reserve Bank of India could announce a record surplus transfer to the center with estimates pegging the payout between 2.7 to 3.5 lakh cr rupes for financial year 26. The RBI board is scheduled to meet on Friday to consider the dividend proposal.
Sources are telling EdTV Profit that gains from forex intervention investment income, currency printing, and a weaker rupee have significantly boosted the central bank's balance sheet, potentially paving the way for another bumper payout to the government.
Let's also move on and talk about electricity demand surging amid intense summer conditions as well. And the government has activated an emergency action plan to avoid power shortages during peak months. Power plants in fact across the country will remain fully operational through June and July with no maintenance shutdowns allowed during this period. Officials estimate that the move could generate an additional 15,000 megawatt of surplus power also coming in and the center has also assured adequate coal availability while hydroelect electric plants will also be strategically managed to meet peak demand requirements.
Let's also move on and talk about EV demand as well. That's in focus. India's electric vehicle momentum is gathering pace as rising patrol and diesel prices push more consumers toward EVs as well Tata Motors passenger vehicles also told NTV profit that it is witnessing strong broad-based growth in inquiries as well as bookings with demand accelerating further in the recent weeks amid developments in West Asia. When you talk about some of the other companies as well, something like JSWMG Motor India said that customer interest in EVs rose over 23% and that's just between March to April versus the start of the year.
While you do also have Eminem that has reiterated its commitment to electrification and cleaner mobility.
Moving on then, let's talk about Nvidia that is signaling confidence that the AI boom still has significant room to run.
You do have the CEO who said that the chip giant can sustain blockbuster growth through a broader customer base and next generation products as well even as competition really intensifies.
Nvidia has forecast stronger than expected second quarter revenue announced an $80 billion share buyback and sharply increased its dividend as well. Now the company is also ramping up supply spending amid a global memory chip crunch. While Huang also highlighted the upcoming Vera chip targeting a massive $200 billion market opportunity.
Let's also move on and talk about some IPO news. 10 SpaceX that has filed publicly for what stands to be the largest ever IPO revealing billions in losses and the super voting share plan which allows Elon Musk to keep the company under his control according to a filing with the US Securities and Exchange Commission as well. You do have the AI giant that is giving the billionaire the power to outvote anyone else and promising him outsiz rewards if he can pull it off. In fact, when you talk about this particular filing, it's showing the goals that Musk would need to hit, which include a human settlement on Mars with at least 1 million inhabitants. Before that can happen, SpaceX is also tasked with the task of making the dream of data centers in space a reality. The question for investors though at this point is whether the sum of Musk's aspirations for SpaceX are worth valuing at as much as $2 trillion viewed in light of financial disclosures that seem minuscule by comparison.
Moving on then let's talk about European space stocks that rallied sharply after Elon Musk SpaceX filed for a stock market listing sparking fresh investor excitement across the satellite and aerospace sector. Shares of a bunch of these companies in fact all gained an early trade as markets bet that the SpaceX IPO could really drive renewed interest and valuations across global space related companies.
And let's also move on and talk to you about an Australian court that has upheld a fine against Elon Musk XC Corp in a case linked to child safety compliance on social media platforms.
The dispute began after Australia's internet regulator sought details on how the company was tackling online child exploitation. Now X had challenged the request arguing that it was issued before Twitter merged into XCOP.
However, the company has now admitted wrongdoing and will pay a higher penalty along with legal costs bringing the three-year legal battle to a close.
And let's also talk about Samsung Electronics that has temporarily avoided a major labor disruption after reaching a lastminute tentative wage agreement with its largest workers union. The strike which threatened operations at the world's biggest memory chipmaker during a booming AI demand cycle has now been suspended pending a union vote later this month. Now, this dispute centered around bonus distribution with workers in Samsung's fast growing AI memory chip division set to receive significantly higher payouts than employees in other business units.
And let's also talk about Britain that has secured a major trade agreement with the Gulf Corporation Council, a deal expected to add nearly $5 billion annually to the UK economy over the long term. The agreement deepens economic ties with some of the key Gulf nations including Saudi Arabia, the UAE and Qatar as well. And this is in fact coming in at a time when the region continues to grapple with geopolitical tensions and supply disruptions following the Iran conflict earlier this year. The fact is also seen as part of Britain's broader push to strengthen strategic trade partnerships beyond Europe.
And let's also talk about Britain that has reported a sharp drop in long-term net migration. So that is one factor that you're also looking at as an important update coming in from there with numbers nearly havinging um you know being half in 2025 to their lowest levels since the postrexit immigration system was introduced. According to the Office for National Statistics, net migration fell to 171,000 in the year ending December, down from 331,000 a year earlier.
And sharply below the record peak, mind you seen back in 2023, the decline is coming in as tighter immigration measures introduced by the government begin to significantly curb arrivals into the country.
Let's also talk about foreign direct investment into Germany that has fallen for the eighth straight year, hitting its lowest level in nearly two decades.
as well. A survey by professional services firm EVI shows investment projects in fact declined 10% in 2025 weighed down by high taxes, elevated labor and energy cost and even persistent bureaucratic hurdles as well.
Despite the slowdown, Germany still remains Europe's third most attractive investment destination after France and the United Kingdom.
Let's get you some national news now.
Now Delhi NCR is staring at major transport disruptions as commercial vehicle unions launch a 3-day chaka jam protest against the hike in environment compensation says more than 68 transport unions in fact have backed the agitation which is expected to impact cabs autorias goods carriers and several public transport services across the region with truckers taxi operators and private bus associations joining hands commuters could face significant inconvenience while supply chains and daily logistics also come under pressure and let's also talk about the result and impact of the strike that I've just talked about. A three-way transporter strike across Delhi NCR is threatening to disrupt this supply of fruits, vegetables, milk and other essentials in the national capital and NCR region.
Truck operators have halted services in protest against rising green sales like I mentioned bringing nearly 1.6 million good vehicles to a standstill. Traders at Delhi's Azadpur Mandi are saying that the impact is already visible with sharply lower vehicle arrivals. Supply shortages and price thresholds were expected to intensify over the next two days if the deadlock continues.
Let's also move on and talk about Union Education Minister Dhindra Pradhan who's chaired a high level review meeting with security and intelligence agencies ahead of the NEU re-examination. The government has directed strict action against fate telegram channels and anonymous groups accused of spreading misinformation around the medical entrance exam. Officials are saying that the focus is now on ensuring foolproof security, identifying vulnerabilities in advance of maintaining a fair and transparent examination process.
Representatives from Meta, Google, and Telegram also attended discussions on tackling online misinformation linked to competitive exams.
Let's also move on and talk about Delhi that is battling intense summer conditions as the IMD in fact issues a yellow alert for severe heat wave conditions across the national capital that continue to soar with authorities urging residents to avoid prolonged outdoor exposure during peak afternoon hours and the extreme heat is also driving a sharp rise when it comes to electricity consumption with India's peak power demand also hitting a fresh all-time high for the third straight day as air conditioner and Cooler usage surges across the country.
Let's also get you some international news then. A high stakes diplomatic window is now open. The US and Iran are racing against time to finalize a peace agreement with reports also suggesting a deal could be announced within hours.
President Trump in fact has set a tight 72-hour deadline, warning negotiators to also close the deal quickly or risk escalation. Iran while signaling openness to diplomacy has really pushed back strongly saying that coercion is not going to be forcing surrender at this point in time with both sides exchanging proposals under pressure. The next few hours or days could really shape the future of this fragile ceasefire.
Let's also talk about US President Trump who said that he may speak directly with Taiwanese leader over a possible arm sale. A move that would mark a major break from decades of US diplomatic tradition. Washington in fact has avoided direct leader level engagement with Taiwan since formally recognizing Beijing in 1979. China strongly opposed the comments warning that the US against you know warning them against sending what it calls wrong signals to pro-independence forces in Taiwan. The development is coming in amid rising tensions over Taiwan and renewed focus on the island's defense capabilities.
Let's move on and talk about Melbourne's Avalon airport that was partially shut down for several hours after a suspicious package triggered a bomb scare during security screening. In fact, police and bomb disposal teams were called in, leading to delays in domestic flight operations. Authorities later confirmed that the package contained a laser hair removal device in a hot chocolate container. Now the passenger linked to the package was briefly detained and later released while airport operations resumed after nearly 4 hours.
Let's move on and talk about fresh diplomatic efforts that appear to be underway between Iran and the United States with reports suggesting Thran is preparing a response to proposals sent by Washington. Iranian state media in fact are saying that the latest text has narrowed some differences while Pakistan is emerging as a key intermediary in the in the indirect talks as well and Pakistan's interior minister has already held meetings in Thran mind you army chief Aim Munir also is expected to visit as back channel diplomacy is intensifying at this point in time amid ongoing tensions and with that it's a wrap on this edition of market express thank you so much for tuning Investments in specialized investment fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility.
Please read all investment strategy related documents carefully before making the investment decision.
India's unshakable news habit ndtv.com is India's number one English news website.
Hi, I'm Tamana Anamar. 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 Nir 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.
On editors cut, our editors come together with experts to distill the week's information plates into clear perspective.
Down the stories shaping the world from markets and economy to global conflicts and what lies ahead. This is where experience meets inside.
No noise, no how, just sharp taste on what to watch next. Editors cut every Friday, 3:30 p.m. only on NDV Profit.
Economy, business, world, technology.
Noise filtered, numbers decoded.
Insights that rewire your world view.
From governance to growth, we connect the dots. Your daily edge, your global advantage. India business reports with me, Gori Di. Week nights on NTV profit.
>> He has been tracking markets for over a decade. spots the trends before they hit the screen and he is now bringing his analysis to the show that the market watches.
Watch Shahad Dubet on Know Your Company.
A show that puts the most traded stocks under the scanner. We dissect the company so that you the investor don't have to get the management to answer questions relevant to you.
Watch Know Your Company weekdays at 11:30 a.m. to understand your next big bet new year panel India market open now in its boldest lineup.
This is where the trends get tested and >> D Street despondence continues as benchmarks end flat while Nifty manages to settle above 23,600.
Small cap stocks witness stronger buying interest. Is it time to pursue bottom-up approach? Full analysis ahead on the show.
Ruby strengthens after hitting multiple record lows. Ends at 96.2 against the dollar. But as pressure remains amid rising geopolitical uncertainty, Commerce Minister Push Coyell says several steps being taken to prevent more damage.
From record dividend payout to launching FCNR deposits, NRI bonds and more INRUSD buy, sell swap. Sources indicate RBI led several multi-pronged measures are underway to save the sliding rupee.
US Iran signal fresh peace talks as US sends new proposal to Iran. Pakistan steps up mediators role after Pakistan's minister Moshin Nakwi met with Iran's foreign minister. Pakistan army chief Aim Munir is set to reach Iran today for back channel talks.
India's EV momentum is picking up speed as rise in fuel prices drive consumers toward electric mobility. Tata Motors tell NTV profit inquiries and bookings have accelerated in recent weeks while Mahindra and Mahindra and JSWNG echo the same momentum.
Backing PM Modi's austerity push, CJI Surya Kand asks all high courts to hold online hearings. Most high courts already shift to virtual mode. Supreme Court too goes online on Mondays and Fridays.
Delhi NCR transporters begin a three-day strike against the environmental cess high truckers, taxi and commercial vehicle unions join protest. Drivers also seek hike in auto and taxi fairs.
PM Modi to chair council of ministers meet at 5 p.m. today big reform review by ministries energy finance railways to brief prime minister Modi to issue key guidance.
Hello welcome viewers. This is Malika Mish on NDTV Profit and you're watching Profit 360, a show that gets you all the latest updates on markets, national as well as international news. Let's begin the show by checking the markets first.
D Street continues to sulk today as benchmarks end the day on a flat note.
While Nifty managed to close about 23,600, the Sens settled near 75,200 odd levels. Broader markets performed a tad bit better, especially the small cap universe as a small cap 250 index outperformed the benchmark. In fact, let's go across to my colleague Parel for a roundup of all the market action today.
>> So, Nifty has ended on a flat note today, closing just above 23,650.
Bajage Finance and Hul were the top losers in Nifty, both of which were down by over 1.5% today. Grassim was on the other side the top gainer in Nifty, gaining over 6%. Broader market has outperformed the benchmark today with Nifty Midcap 150 ending in green up by 0.1%. This was led by Honeywell Automation which was a top gainer in Nifty Midcap 150 up by over 20% followed by IRB Infra which was up over 8% today.
Nifty Small Cap 250 also outperformed both of these indices and ended in green gaining over 0.7%.
This was led by Salman Capital and Thwini Turbines both of which gained over 7.5% today. Now if we move on to sectors then sectors ended on a mixed note today with nifty realy being the best performing sector up by 1% led by Anantraj and Phoenix Mills both of which gained by 2.5% today on the bottom side we saw Nifty IT being the worst performing sector down by 0.5% led by persistent and coords and lastly about sectoral trends we saw nifty realy nifty PSU bank nifty energy nifty auto and nifty oil and gas end end in green for the third day in a row While Nifty Metal, Nifty IT have ended in green for the second consecutive day. On the other side, Nifty FMCG has fallen for the fourth day in a row. Right, thank you so much for that part. FMCG continuing to continuing to be the weak spot in the markets. But Indian markets are at an interesting inflection point with extreme pessimism colliding with improving underlying fundamentals. We see one of the worst phases of relative underperformance. But at the same time much of the negativity appears to be already priced in and history suggests that even if indices remain rangebound stock specific opportunities can still generate significant alpha. My colleague Nat Sha who was also executive editor for markets at NT Profit joins in to explain how markets may shape in the coming months. Listen in >> here. Here are some key data points for people to mull over uh about when they're thinking about what could happen next to the equity markets. And I have borrowed some from a note from Morgan Stanley and some from our own research.
So what can indices bottom out? I think India share of global profits currently exceeds the global index weight by the highest margin. So if you take the share of global profits to the global index weightages and do a ratio, I think it's probably the highest that it has ever been in terms of the margin which effectively shows that the valuation has gotten skewed on the downside relative to history. The trailing 12 months relative performance is the worst in history. This is as per a Morgan study note by Rhythm and colleagues. So interesting to see that how from versus history I think we are on some key footings and the foreign positioning of course is known as at multi-year lows.
Now can this actually go down further?
It sure could. Various FIS have come and spoken about they would still want to pursue the AI trade. But be that as it may, we do know that from here the quantum of selling that could happen is hopefully going to be much lower than what it was maybe 12 months ago. Now all eyes are on the government to pick up crucial reforms before the 2027 UP election. So I think there's a clean slate of seven or eight months that central government has to enact some reforms without worrying about the overhang of state elections and what the uh response of that could be. So I think this is something that people are looking forward to some reforms coming in tough as it they may be but if they actually help investor sentiment around what the government is doing on reforms architecture I think that could really really help. Uh that is one and the other point is that even if the indices were to flatline what could it do to markets and portfolios? So can the nifty flatline while portfolios gain? I think I took a look at what the period of 2000 to 2013 meant for the US index for the US stocks and the Japanese index. Now the S&P 500 from 2000 to early 2013 traded near 1,400 levels in 2000 and hovered around the same levels in 2012 to early 2013. But there were enough stocks which during this 13-year period did really well in US. Apple rose by nearly 70 times. Amazon saw tripledigit returns as well. Monster Beverage multiplied multiple times as well. So you and of course I'm picking and choosing here but what I'm effectively trying to say is if the index flatline it didn't matter if you were able to choose the right stocks for a long period of time. I'm nowhere insinuating that the Nifty will flatline for 13 years. But we history shown even in even in Footsie 100 for example 202 2013 it peaked near 7,000 in the end of 1999 and I think stayed around these levels for up to 2012 or 2013 and even in this case which is the UK index record beckenser primark etc delivered strong returns riotinto outpaced the index as well so there are enough Japanese index in the early years also has some you know measures like this or responses like this if you will or data like this. So the index may well flatline but we may have enough stocks which could deliver returns. Shelka joins in right now and I would love to ask him this sh does it petrify you or worry you that we may be in a period or have been in a period.
>> Well after hitting multiple record lows in past sessions rupee staged a comeback in early trading today. The rupee strengthened 0.6% to close at 96.2 against the dollar. This breather comes right after the RBI unveiled a $5 billion rupee swap auction to infuse long-term liquidity in the banking system. However, the domestic unit remains under pressure and has declined over 5% this year already. Now, this is extremely concerning for the economy because we end up paying more for all our imports at a time when fuel prices have catapulted above $100 a barrel. On your screen, you can see Brent up 1.6 1.06% and US WTI up about 1.0. 02%. In fact, speaking on the sidelines of the Amcham, American Chamber of Commerce annual leader ship summit in New Delhi, Commerce Minister Push Kell told media persons that the government is evaluating a range of measures to prevent any sharper deterioration in the currency. Listen in rupee sliding. So what more measures can the government take to you know contain the current account deficit widening?
>> We are monitoring the situation. All the various arms of government are working as a team.
Several steps are under consideration.
The situation is globally quite uh challenging but we have the confidence and the courage of conviction that we'll come out winners even in this challenging time.
And amidst the weakness in the rupee, India could be headed for another massive payout from the Reserve Bank of India. Sources tell NDTB Profit that the RBI board is set to meet on Friday to consider its dividend payout to the center for FI26. The payout is likely to be between 2.7 lakh cr and 3.5 lakh critially a record transfer to the government. Sources say a nearly 10% fall in the rupee against the US dollar during FI26 helped expand the rupee's balance sheet. The central bank also reportedly made gains through forex market interventions, investments, and currency printing operations because the RBI holds massive foreign exchange reserves mostly in dollars and dollar denominated assets like US bonds. So if the rupee falls, those same dollar assets become worth more when converted into rupees. But we've also heard viewers from our sources that the Reserve Bank of India is evaluating multiple options to help arrest the recent slide in the rupee. Sources tell NDTB Profit that the RBI is deliberating on the possible launch of FCNR deposits, that's foreign currency, non-resident deposits, which could encourage overseas Indians to park more foreign currency with Indian banks. The RBI is also evaluating the issuance of NRI bonds, another tool used in the past to attract dollar inflows from Indian living Indians living abroad. My colleague Pu Shukla now joins us with more details on the measures being considered.
>> Absolutely. We are hearing from our sources that RBI is holding internal meetings with all the state with all the stakeholders with their staff the forex department and essentially the focus is on how to curb the depreciation in Indian rupee. We have seen yesterday the rupee hit around 97 level versus US dollar. Today the rupee recovered by around 80 say to around 96.20 20 level.
However, uh this continued depreciation in rupee something which is concerning the regulator right now. So there are multiple options that are on the table.
The RBI as we are as we are aware just yesterday announced that they will be doing a $5 billion buyell swap and we are expecting the sources indicate that there could be more such dollar buy swap going ahead dollar and INR. Further the very anticipated uh uh talks on FCNR deposits that also is on the table. Uh although nothing has been finalized yet but this is something that RBI could launch to arrest the fall though there will be some charge that will be incurred but the gains are pretty high.
The inflows are expected at around 30 40 billion more than $40 billion if this deposit scheme is launched. Furthermore, the government backed sovereign dollar bonds also is being talked about. Uh RBI is further uh you know also likely to nudge PSU banks uh to raise their borrowings in dollar form. We are aware just two weeks back SBI announced that it will raise around 2 billion US$2 billion via foreign currency. So all these measures are being deliberated upon. There is no final uh say yet but the RBI overall is working on a strategy to curb the fall in Indian rupee. Back to you.
>> Thanks so much for that Push and viewers. Let's now take a look at some developments in the Iran war.
Negotiations over Iran have taken center stage with Pakistan stepping in as a key channel. Pakistan's interior minister say Moshin Nakwi met with Iran's foreign minister Abbas Sadaki signaling back channel diplomacy as Thran and Washington continue indirect discussions and Pakistan's army chief Aim Munir is also set to land in Iran today. The US in the interim has sent a fresh proposal with Iran expected to respond soon but divisions are widening among allies.
Reports suggest a heated exchange between Donald Trump and Benjamin Nathan Yahoo. While Trump is pushing for a breakthrough deal, Netanyahu is set to favor sustained strikes to weaken Iran's military. The diverging strategies are fast emerging as a serious flash point in an already volatile West Asia crisis.
But oil prices remain volatile and peace deal amid peace deal uncertainty. You see, Bren crude futures as I was mentioning before is hovering anywhere around $104 to $105 a barrel and both benchmarks had dropped about 5.6% 6% yesterday to their lowest in more than a week after Trump said talks with Iran were in the final stages. Listen into what Donald Trump had to say about Netanyahu.
>> What have you said to to Prime Minister Netanyahu about Iran and how long to to hold off on strike?
>> He's fine. He'll do whatever I want him to do. He's very very good man. Uh he'll do whatever I want him to do. And he's a he's a great guy to me. He's a great guy. Don't forget he was a wartime prime minister and he's not treated right in Israel in my opinion. I'm right now at 99% in Israel. I could run for prime minister. So maybe after I do this I'll go to Israel, run for prime minister. I had a poll this morning. I'm 99%.
So that's good. But uh no, he's a wartime prime minister and I just don't think they treat him well.
Switching tracks to India. Amid PM Modi's austerity call and consecutive hikes in fuel prices, EV makers say that the green segment is seeing a record demand. In fact, the management of Tata Motors PV and JSWMG Motor India told our colleague Dhanish Anand that customers are looking at affordable alternatives.
Now, let's go across to Danish Anand for more details.
>> Correct. JSWMG motor and Tata Motors passenger vehicles have exclusively told NDTV profit that especially from the past few weeks there is a greater demand for EVs that these companies are seeing.
First was talking about Tata Motors especially Tata Motors is seeing an increase in the footer in the walk-ins as well as you know inquiries for electric vehicles that Tata Motors manufactures. Besides that they're also seeing a high you know jump in bookings for EVs. On the other hand, if we talk about JSWMG Motor India, they they have seen a 23% jump in uh you know in bookings for EVs. If we compare January to February 2025 and March till April 2026, so they seeing a great demand for EVs and one of the factors why there's a great demand is obviously the rising fuel prices that we have seen over the past two weeks. Besides that PM and Narendra Modi had also given a you know suggestion to the public to use EVs and especially after these two big drivers we seeing that they're seeing more and more demand for EVs very largely and MG motor India is of the view that the EV penetration of E the EV penetration will increase to 8% by the end of this year.
All if we see in the backdrop of the West Asia crisis, electric vehicle companies are seeing greater demand for vehicles.
India Inc. has sounded a major warning over what it calls the three Fs challenge. Fuel, fertilizer and food.
Industry body confederation of Indian industry says the West Asia crisis is putting pressure on energy prices, fertilizer costs and food inflation and also the rupee. CI has urged the government to treat the three sectors as one linked economic challenge. Warning that India's heavy import dependence on crude oil, phosphates and ura makes the economy vulnerable to global shocks. The industry body has recommended a series of measures including a faster ethanol blending road map, um LG based freight transport, direct benefit transfers for fertilizer subsidies, and stronger food supply management to contain inflationary pressures. But in the interim, let's take a look at an important earnings announced. ITC has reported an operationally strong fourth quarter with margins coming in well above street estimates and profit also beating expectations. However, revenue growth remained muted and missed estimates indicating some pressure on demand. The company's also announced a final dividend with the record date scheduled later this month. Let's go across to my colleague Mahima to get a deeper sense on the numbers.
All right. So, uh overall if you take a look at the ITC numbers, it's a mixed bag because uh revenue did miss estimates and this is largely on account of the excise duty increase that came in and uh if you take a look at the excise numbers also you know they they're up almost four times as compared to where they were in Q4 FI25. So revenue you know missed in terms of where the estimates were at that 16,000 cr versus that of an estimate of 18,000 odd cr.
But in terms of where uh you know the net profit stands it was a complete beat at that 5,000 cr mark versus an estimate of 4,900 odd cr margin stood at 40% versus that of an estimate of 33.2% and this is the IBIDA beat and the margin beat is largely led by the price hikes that the company has taken in order to offset uh the excise duty hike. IDA also stood at around 6,400 odd crores versus that of an estimate of 5,990 odd crores.
Uh in terms of uh the uh segment wise u performance overall uh the cigarette business revenue saw an uptick of almost 27%. Again this is on the back of price hikes and not volume growth. Volume growth we spoke to an analyst and he suggested that it could be in the mid-s singledigit number but we'd have to wait and watch out for that you know volume percentage number. Overall IBIT saw a go growth of 7% for the cigarette business.
Uh agri business revenue however did see a downtick of 16%. FMCG business which was expected to grow around um you know in early uh double digits just saw growth of around 5%. And agri business was down by about 30 odd%. So uh this is the overall view of you know what's happened with ITC this quarter.
>> Thanks so much for that Mahima. And in a move aimed at supporting Prime Minister Narendra Modi's austerity push, Chief Justice of India Surya Kant has said that all high courts across the country have been asked to conduct online hearings with most of them already implementing the system. The remark came during a hearing where a lawyer urged that all Delhi courts shift to virtual mode for 3 months in the national interest. The CGI said district courts come under the administrative control of high courts but also added uh that he has requested them to consider online hearings there as well. The Supreme Court has already decided to hear cases virtually on Mondays and Fridays while also encouraging car pooling among judges to help reduce avoidable expenditure amid the West Asia crisis.
In the interim, Goa is looking beyond its image as just a weekend tourism destination with the state now pushing a work from Goa model to attract startups, entrepreneurs and longstay visitors. The aim is to build a stronger roundthe-ear economy and create more wealth locally.
NDTV Profit in fact spoke exclusively to Goa's chief minister Pmud Savant to understand the vision. Let's listen into that conversation.
Right. Goa is known for many things. Its beaches, its tourism, its night life.
But one thing it's not known for is having the chief minister sit at a shack here and working out of a shack here in Baga Beach. Thank you so much Mr. Sawant for taking time out for NDTB profit.
We're here witnessing some sort of a pivot that the Goa government is also making in terms of boosting Goa as a work from home as a vocational destination. Talk to us about the vision behind this.
As you rightly said for the vacation destination our tourism minister and IT minister the both the minister have come together to start with the shakathon 2026. This is a new concept to work from the beach. It is not only to the work from the home. Now the already the prime minister Narendra Modi has appealed to the work from the home but most of the time the people uh has got um tied up to work from the home. So they can come to the Goa, they can take the stay um stay homes and everything and they can start to work from the beach. This is the new concept already that we are creating the infrastructure which is required for them. So uh they can at least uh start their works from the beach. So as I rightly said beaches is Goa is not only for the sun, sand and sea is Goa is also for the startup. So this is this is a new concept we have started.
Viewers, as it becomes hotter, our power consumption is also going to increase.
And therefore, the government has rolled out an emergency plan to tackle this surge in power demand. We've learned that the power demand may hit 283 gawatt in the month of July. And therefore, the government is coming up with some measures like no maintenance allowed during June and July in the summer peak season. My colleague Cesa now joins us to share the measures that the government has exactly taken. Cessa, >> the government has come up with an emergency action plan to meet uh rising electricity demand during the summer season and uh senior officials from the ministry of power briefed the parliamentary uh standing committee on energy on the same. Now uh what we are given to understand uh is that officials have informed the committee that uh power demand uh has hit a record high of 265 gawatt this week and demand is further projected to uh you know rise 283 gawatt in uh July. sources said uh under the plan the government has decided that all thermal power plants will remain operational during the season uh which means uh that no maintenance shutdowns will be allowed.
Uh officials also said that this particular move is expected to boost supply by 15,000 megawatt uh in order to manage the expected spike in demand.
Viewers, Delhi NCR is witnessing a major transport disruption as truckers, taxi operators and commercial vehicle unions begin a 3-day strike against the Delhi government's environment compensation says hike. The protest is led by the All India Motor Transport Congress and will continue till May 23rd. Unions have called the policies of the Delhi government and air quality panel unjust for the transport sector. Commercial vehicle drivers groups have also demanded a hike in taxi and autofares citing sharp rises in CNG, petrol and diesel prices. Meanwhile, some autoria unions have also distanced themselves from the strike even as transport bodies warn of widespread disruption across Delhi NCR. Uh amid closely watched negotiations around the US around the proposed India US trade deal, Commerce Minister Posh Coyle has indicated that the chief negotiator for the agreement may visit India next month. The commerce minister said the negotiator is not part of the current visit but also added that plans are underway for him to travel to India as both sides continue to push forward on the trade pact. Meanwhile, US ambassador to India Sergio Gore has expressed confidence that the deal could be finalized in the coming weeks or months, saying both countries need candid and constructive engagement on export controls and technology flows.
Listening to the exact remarks of the commerce minister and US ambassador to India.
>> I think he's not coming with him, but there is some plan for them to come next month.
To all of you who have asked what is taking so long, it has been a year and a half since we started these negotiations on on the trade deal. To put in perspective, the European Union took almost 19 years. And so we are confident that over the next few weeks, over next few months, this trade deal will get finalized. It will bring the stability and the opportunity for both of our sides. We need candid and constructive engagement on export controls and technology flows grounded in trust. And we need strong intellectual property protection to encourage innovation and investments.
>> And viewers, there's some crucial update on the Pulwama attack. Hamza, believed to be one of the key masterminds behind the Pulwama terror attack, has been killed. He was shot dead by unidentified gunmen in Pakistan occupied Kashmir.
According to sources, Hamza was attacked by unknown gunmen outside Ames College in PK's Muzafurbad. He sustained multiple gunshot wounds and later succumbed to his injuries. Indian security agencies had long listed him as most wanted. In 2022, the Ministry of Home Affairs has officially designated him. In fact, in 2022, the Ministry of Home Affairs had officially designated him as a terrorist. According to the ministry, he played an active role in spreading terror across Bulbama and South Kashmir, recruiting youth into terrorist organizations and raising funds to support terrorism.
>> That's all the time we had on this edition of Profit 360. Stay tuned to any Profits with Malika Mishta. Thanks so much for watching.
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Watch Shahad Dubet on Know Your Company, a show that puts the most traded stocks under the scanner. We dissect the company so that you, the investor, don't have to get Call 9300300300.
Hello and welcome to KYC. I am Shahhat Dubet and you are watching NDV Profit and it's a very interesting show where I get you companies which are buzzing on earnings, hidden gems and also a lot of retail interest and I get you these interesting companies for you and today also there's a very interesting company.
But before that try to guess it. The first hint. It's a certification services company for natural and lab grown diamonds. The company's promoter is Blackstone Group. Interesting, right?
Company has come earlier in KYC also.
That's another hint I'd like to give you. And they've delivered a strong March quarter. Interestingly, from January lows itself, the stock itself is up 25% as well. talking about German jewelry but the company is a certification company. So the company in focus today in KYC is going to be international gemological institute.
This is the company which we are talking about. The company has come out with a good set of numbers. But what are the key questions we'll try to ask of course on the earnings and the outlook going ahead. Let's put out the key questions you know for this company. The first one is definitely going to be on the growth expectations for FI27. Is there any change in the margins, change in the sales outlook, volumes? That's what we'll talk about. Also the LGD which is nothing but lab grown diamond. How's the volume looking like? Is there any you know changes happening in this certifications for this segment? PM Modi recently urged to buy less gold. But will this impact the studded jewelry volumes? That's also a key question. A lot of investors have been putting up the Middle East conflict. What happens on the impact on business? Remember the company has you know offices in Abu Dhabi and Dubai as well. Apart from this uh the AL acquisition that's where the bullish commentary is coming in especially on the diversification part that's something we'll be watching out for and also the diamond prices they have fallen almost 50% does that impact the demand and is there a second order impact on the company also apart from this the threeear sales CR is of 25% will this growth momentum continue or because of a higher base there might be a little bit of moderation going ahead and of course we'll be asking the certification gap. Is it widening between LGDs and the natural diamond segment or not? So these are the key questions and to put that in perspective we'll have the global CFO of the company Ishwar Ayer with us. But before that let's try to learn about the company.
What does this company always do or you could say what does the company's main operations are? Of course the certification and accreditition of diamonds, colored gemstones and jewelry is something their core business and to get more things in perspective of course they do the grading reports for the diamonds and this colored stone origin reports as well. They have an education setup also and 55 to 90% market share they're having across their key categories and interestingly apart from this the backing is something which the street is quite bullish on. uh the promoters is Blackstone and of course backed by some really large institutions globally as well. Also let's look at the other details about the company. They have transitioned if you're tracking this company now it's April to March.
Earlier it was on a calendar year basis.
So that's an important point to mark.
And the global network of 36 labs and 21 schools of gemology across 10 countries.
That's what we are going to talk about.
And also the revenue mix. Let's just have a look how things are panning out.
Largely lab grown is 60%, that's the majority I'm talking about. After that there is some kind of a breakup of course the natural diamonds that's around 15 odd%, the remaining goes for the jewelry and the gemstone segment.
This is where the certification they do of these key products. But March quarter highlights it was something very strong.
The total certifications went up 16% on a year-on-year basis. And also if I give you more details, let's just pull up other key triggers and there was a strong growth momentum on the certification of their key business segments as well. Also the bullish commentary is coming on the AGL acquisition and that's coming from the management. So we'll try to understand what are the incremental benefits actually there. The average realization prices they did go up by 4% on a year-on-year basis coming in at 987 rupees per share. The reason is the increased mix of natural and lab grown loose stones and that is why the average selling price which is called ASP has gone up uh largely let's see the industry how things are panned up and this is a very important you know takeaway four times there's a production growth coming in the last 3 to four years also looking at the industry the industry size for the India is almost 6 to 7 billion for a global look at that that's 10 to13 billion But how the CGR growth is looking like that's around 13 to 15% for India and for global it is around 6 to 8%. So if you are understanding the industry do take a note or take a screenshot of this data what works for the company of course a strong operational and financial parameters are there high ROC company Blackstone as a promoter group things are looking really strong here and also one positive point is it's a debt-free company so largely these are the key positive pointers coming in but what is there where is the lack happening where is the concern there is a lack of analyst coverage in this stock secondly IPO post it IPO it was in the year end of 2024 after that there hasn't been any major institutional buying post the IPO and it's almost 1 and a half years now uh the benefits of the recent AL acquisition will take time it's not that it's going to happen next quarter it's going to take some time and that is what a little bit of concern or caution would be there if I am analyzing this company but to analyze this company more in KYC I'll be getting you those eight parameters where we judge a company and interestingly there includes income statement, balance sheet, cash flow these are the official you know financial ratios to track return ratios I'll get you both the ROC's and ROIs and don't worry street credit also we'll try to understand from the IPO price has the company made any money or not shareholding of course we spoke about valuations the company doesn't have a peer so we'll be judging their peak and the current valuations and of course the outlook on the industry going ahead head so eight parameters for the KYC in this show. The first one let's start with that's the income statement and largely the threeear CGR revenue AIDA pat all of them growing 30% plus so a good healthy you know income statement growth in the long-term basis but the Q4 numbers is something which I was very bullish on and that is where we are seeing a good momentum happening if you could just show the Q4 numbers and this definitely beats whatever the expectations was there in the street a year-on-year basis there is a good growth coming and they're sustaining it the question is will they sustain sustain going ahead or not. Let's pull up the margins also to see what has happened. Remember most of the data is calendar year and now they are changing the reporting period and there's a good up move in the margins also at 64% in first quarter calendar year 26 or let's just put it March quarter to simplify it for your analysis. So net net income statement is a strong thumbs up. Let's look at balance sheet. I remember I mentioned that the company is debtfree company. So that's a good sign.
A healthy balance is also there of 464 cr rupees and if you have a promoter like Blackstone, you can expect that the balance sheet and the working capital will be maintained very professionally and that's what we are seeing. So balance sheet is also a strong thumbs up. So we spoke about income statement, we spoke about balance sheet, all of them are ticking but cash flows let's see what's happening and remember the company has come earlier in KYC also and I'll give you the entire history of it but you need to be stay tuned with KYC right now a little bit of variance here in the net cash flows of course some adjustments are there when it comes to the investing in the financing segment but largely from the cash flow operations it is a decent growth and the conversion is also pretty decent so let's keep it neutral and give this a neutral rating when it comes to the cash flow segment. Let's talk about the return ratios. And remember this return ratios numbers of the last 2 years we have gotten it's roughly from 48% is the ROC and now it's at 45%. There's an adjustment also. Let's pull up the ROE numbers to show you. And remember this is a very high return ratio business.
Same thing story happens here as well.
Remember there was an adjustment also which the company has taken in place and because of that these return ratio minor hit has come in. If you compare that this is the reason for it. the roe adjustment for a fresh equity issue. It was there in the month of December 2024.
But nevertheless, ROE ROC strong is Dundga and we know that by now also let's talk about the shareholding what has happened the promoter shareholding of course we spoke about it. Blackstone is the group here but my concern is we had good names in the IPO but after that have the good names added positions no it hasn't and it's been almost one and a half years it's largely same actually FIS have reduced a little bit it's coming in at 9% and DI's holding has been flat no major move for the public also so largely the institutions are holding most of the stock so it's a neutral rating right now when it comes to the shareholding but the question remains is has the stock made money for retail or for the investors that's the key question and remember from January lows I had mentioned the stock is up 25%. But the concern is from here from its lifetime high levels especially during its IPO time the stock was you know trading at a pretty stronger rate it's down 43% it hasn't recovered yet and also from the IPO price also there is a you know fall you know it's down 12% from one year basis also the stock is down 7% so concern is there when it comes to the overall performance because that money hasn't been made yet because of that I'm going to give this a thumbs down let's talk about valuations how things pan out and largely the peak valuations were 41 times especially during the euphoria of the IP but after that correction has happened and it's at 30 times right now if you compare that with the 12 month trailing P so largely valuations seem neutral right now I can't say very attractive because there's just only one company what's the sectoral valuation it we need to give in more time it's just been one and a half years so I'm going to give this a neutral rating as well but outlook let's see what's happening here and outlook seems to be turning more bullish I just read the recent uh you know management commentary the bullish commentary coming on American gemological lab glabs that is something which to we need to talk about LGD the lab grown diamond is definitely at inflection and now the industry is moving towards volume zada volume za certifications to simplify it for you and also a good v visibility comes for the revenue now are they using AI to increase their operational efficiency ies that's what we'll try to understand and if yes will the margin outlook go up and the volume growth pricing stability and operating leverage already exists so company is retaliating that statement so net net the outlook remains pretty strong and of course Indian government recently standardized a terminology for this lab grown diamond so more you see more quantification happens more uh regulations come in so more certifications also come in so it's a strong thumbs up when it comes comes to the outlook. Let's see what's the final rating in the KYC segment for International Gemological Institute and largely income statement balance sheet have been really strong. Cash flow is decent. The concern is definitely not here. The concern comes in the street cred because the returns haven't come in for the investors and at the end of the day everybody wants returns. Also, let's look at the valuations. largely we could say neutral but the outlook is something which the management is quite bullish on so let's give in the entire KYC ratings for the company and right now is going to be 5.5 out of eight it's largely in line to positive from the average numbers which I generally give but there is an interesting take there's a history of this company coming in KYC for the third straight time they have come so let's give you the entire picture first time they came in March 2025 it was around 5.5 out of eight first time from pre IPO after that early this year they came a minor dip but now they have regained it back in the May 2026 in today's KYC as well so this is the entire KYC report card for IGI as well but to understand more we'll be joined in by the management he's Isharayer he's the global CFO of this company and interestingly he has been at this helm from October 2023 onwards now we are joined in by Ishwar Ayer he's the global CFO at international gemological institute Ishwar it's always a pleasure to have you in NDTV profit and of course first foremost good set of numbers coming in Q4 of course Q3 also last time we spoke was strong as well and the question is does this momentum continue in FI27 as well because there is a hint of uncertainty all throughout the globe so how do you take that >> yeah thanks uh it's a pleasure to be on the show thank you for having us here yeah uh we've had a extremely strong u actually four quarters four five quarters post the listing >> uh yes there are uncertainties that uh we all are grappling with.
>> U we've given a full year for guidance again at around 15% of revenue growth and 20% EIA growth. So and as the year starts it's been a strong first uh what quarter four for us now that momentum and right now shifted >> right. So is will there be any accounting adjustments also in the coming or in >> there accounting adjustments it's just that versus the classical 12- month reporting uh uh report out I think we have now coming with a 15-month report and uh just to ensure that there is adequate comparatives etc. our investor deck is also capturing a corresponding 15-month uh comparison versus for the previous period as well.
>> Exactly. So as an analyst it got a bit like you know because 15 months and 12 months but anyways the certification segment you know the volume growth uh you spoke about the numbers it's fine but the certification is there any some kind of a tailwind happening here because you mentioned in your presentation that now LGD becomes a volume play. What does that mean? See I think uh what's uh just to give a context on how the LGD has evolved uh the US market has been the first adopter of lab grown diamonds all of the manufacturing sits in India and that's the reason most of the certification also happens here in India so it's basically a made in India product with a made in India certification body as well uh and uh because of the affordability that it that it works with I think there is a lot of scope for the Indian consumer also to come into play And that is what we are also looking at because while uh it's today in the US most of our whatever gets manufactured here goes to the US >> uh in due course of time I guess the Indian consumers will also come into into the frey and that's the trend that we are also seeing over the last four five quarters because if you were to look at our lab grown jewelry certification business it's pretty small now but it's growing at a healthy 25 30% range in the last three four quarters this quarter was around 29% I guess.
Yeah, >> the margins front also Ishwar I was just looking at it there's a good contribution coming from the studed segment also do you think this trend continues and if yes what kind of margins we are looking at see over the last uh four five quarters I think our margins has been pretty consistent I think it's been always plus one or two but I think uh importantly from the company standpoint there are significant investments that we are making uh there is uh I don't know whether you've been able to notice it we co-sponsored the ladies world cup last year okay >> we are also now uh partnering with Gujarat Titans for the IP.
>> Anything on the FIFA World Cup?
>> Uh not yet. Not yet. We are we'll have to think through that. But I think we are also making significant uh brand investments because the need for a third party independent certification body is far more important today than the past.
>> So is that means if you're doing a significant brand investments so your expenses would be coming in a little bit of margin pressure would be there if you want.
>> We hope that with the volume throughput that's coming in and just to address your first question as well. I think uh significant capacity additions are also happening in the segment because as I mentioned probably the Indian consumer also comes into play. There's a lot of retail activity also going on in terms of number of outlets that are getting open to sell lap jewelry. So there is a lot of interplay at the moment which is happening and with our operating leverage that we have you know some of this volume throughput also enables us to get good cash flows through >> and literally you do not have a major competitor in India and you have most of the market share also you know you're having a lion share of it. I just wanted to understand there's a lot of you know Middle East issues you know West Asia issues coming in you also have offices in Dubai and Abu Dhabi is there an impact there happening see uh I think at the early the early onset of the war obviously we had uh we are concerned I don't think the business is that important >> so nothing coming on the numbers in >> nothing that's come on the numbers but I think we have very cognizant to ensure that our people are protected there so business obviously takes a backseat when you have such issues there so I think our paramament important aspect ect that we wanted to start with when the war started was to ensure that the people there is safe but they've been able to manage the transition pretty well. I don't think there is too many issues. So we have an office only fine. We have an office only in Dubai. It's been okay. I don't think there has been anything to worry about at the moment.
>> Right. And there's a lot of bullishness coming in your commentary for the AGL American Global Institute. We spoke about it and this time we can see that the conviction coming in. If this conviction comes in by when can this conviction come in your numbers the benefits when that numbers start acrewing and why this acquisition is important? Yeah, I think uh to address your last question first uh this is a strategic investment that the company has done because our services is restricted to diamonds. We wanted to enter gemstones and AGL is a leading brand as far as gemstone certification is concerned. So that is the thought process behind doing this acquisition.
But the important thing to also for everybody the audience also to know is you can't you can't scale it up overnight because this is high competence highly skilled work that happens >> and uh this is a 10 11 man man organization based in New York you know so we have to build that sort of uh uh structures and infrastructure to do this grading elsewhere the see what happens is with that the skill set that they have >> and the geographical presence that IG has there's a good marriage that happens. Now how do you translate that into getting new offices and because we have a Jaipur is a very large market for gemstones in India. Thailand is pretty big. Dubai is pretty big. China is also getting very big. Now how do you build that competence across the other offices in terms of recruiting uh skilled labor it is still a work in progress. Yeah it's absolutely work in progress. The integrations have happened. Uh we have also talked about the two months of revenue that seeped into our numbers this year. It's given us an incremental 2% revenue growth as well. M >> but I think the uh >> the real the real the real job starts now for us in terms of building that capability across our offices.
>> So we can expect two three quarters >> I think absolutely two three quarters I think let let everything settle down at the moment. I think there's a lot of work that's gone in terms of integrating financial processes.
>> So it's going to take time but nevertheless on a year full year basis the benefits will start coming in and the diamond prices that's a concern. the prices have fallen and I'm talking about the last 2 three years the stock you know you could say the price is down 50%. So does that impact the volumes or the purchasing decision?
>> I think uh uh while the prices corrected sometime in 2024 but we have seen a lot of stability since then because uh beyond a certain base price fall you know the profitability and the commercials of the growers also get impacted. So we have seen that sort of stability at least on lab grown wholesale prices but you must understand that the retail prices are significantly they are holding firm because they're like five six times uh at price at what the diamond prices >> because it's a brand play at at brand at we have been seeing also so much retail investments coming in lab and that's what you know we have seen the trend happening across all the high streets which I have visited I've seen that >> but there's a gap widening is there a certifications gap widening between LGDs and natural diamonds right now.
>> No, I think see the the four C's are what determine the commercial value of the diamond be it natural or lab grown.
So without the four C's impossible to do a trade between the various players in the value chain you know >> and just for information what are the four C's for the people who are tuning in first sorry yeah so this is cut color clarity and uh the carrot weight >> cut color clarity and carrot weight so these four things are there you should remember that >> these four C's determine the commercial value of a diamond is akin to a 18 karat or 24 karat or 9 karat gold so this four C's is what determines the the value of the diamond and that is very critical so regardless of whether it's natural diamond or labro IGI provides four C's for both >> right that's pretty much interesting and the last question I need to ask is the market share because you already have there's a range there I couldn't find it in the investor presentation last time we spoke it was between 55 to 90% on your key categories any gain which has come in any category >> you see I think uh for us uh an important prerogative has been to get into natural diamond space uh because um >> that's roughly 65% of >> I think globe India we are probably at that level But globally we must be around 20 25%. So I think the largest market obviously is the US. So that is an important uh aspect for us to drive and that's something that we're trying to work on. Natural diamond business also grown 18% over the 15month period and some 10% this quarter.
>> Right. That's a pretty interesting take coming in. But yes this time from last time we spoke in KYC and from now there is a stark improvement you know in the company's you know vision as well. So very interesting story. It's always a pleasure to talk with you and that's the interesting story of International Gemological Institute and stay tuned to KIC and NDTV profit for these interesting stories.
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Hello and welcome. You're watching your money matters here at any TV profit. I am Mahima Vatraani and this is a show that solves all your money problems and helps you grow your money. And that's why today we thought of taking up two very very interesting topics. The first one that we going to talk about is how you can invest in global markets via the gift city. What is gift city? How you can go ahead and invest? What is the minimum requirement of amount? what are the tax implications etc is what going what we're going to discuss in the first part of the show and the second part of the show we going to talk about how you as a retail investor can actually invest in um unlisted space not just stocks but unlisted businesses how can you be a part of their growth so these are the two very interesting topics that we're going to take up in today's show but let's start with how can you go ahead and invest in uh you know via gift city in the international or global markets and to take this conversation ahead head we're joined by Jay Kotari who's the head international business at DSP asset manager is joining us now Jay thank you so much first of all for taking out the time I'll start with a very basic question you know for a lot of people to kind of understand as to what exactly is gift city and how does it allow Indians to kind of invest globally >> sure my ma first of all thank you very much for this opportunity and for having me on the show in terms of the gift city it's you know very simply put gift First it's the Gujarat International Financial Tech City. So that's the kind of you know the extended version of what gift usually kind of people mention and it is India's answer to what you know Mauritius was or Singapore is or whether it's Ireland. So when um it was an intention for having a global financial hub right here in India and it's kind of based in Gujarat in in Gandhiagar. So the initial kind of thought was getting the offshore onshore that is you know the fund managers who used to manage global capital from say Singapore or Maicius or you know rest of the world bringing back to India or getting those kind of the brain drain which usually happens to get get them back to India and kind of manage capital from India and um there is an extension to the gift city as well. So it was not only about managing global capital in uh into India but also our own money that is your money my money you know all the retail investors or other investors in India who want to invest even globally through the gift city they can kind of invest and I think a very important kind of aspect which is probably not known to many is that gift is also a unified regulator. So just the way we have you know SEBI, RBI, PFRDA, IRDA, the IFSCA kind of subsumes all the regulators into one. So uh you know even from a regulatory standpoint
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