Prerna Infrabuild reported a 6.85% increase in net sales to Rs 3.23 crore for June 2023 compared to Rs 3.03 crore in June 2021. Their quarterly net profit also increased 12.23%, from Rs 1.37 crore in June 2022 to Rs 1.54 crore in June 2023. The EPS dropped from Rs 1.14 in June 2022 to Rs 0.62 in June 2023.
Open FlipDixon Technologies stock was largely flat on July 26 after early gains, after reporting 48% YoY growth in net profit for the previous quarter. Brokerage firm Nuvama downgraded the stock post results with a target price of Rs 3,925 due to weak demand in some segments and expected margin drops. Jefferies also downgraded Dixon to 'hold' with a TP of Rs 4,550 indicating a 5% upside potential.
Open FlipShree Cement Ltd shares rose 3% on July 26 after it posted an 84% rise in net profit for the June quarter. Revenue grew 19%, but operating margin contracted to 18.6%. The company's board also approved Rs 7,000 crore in investments for capacity expansion and strategic diversification into Ready Mix Concrete (RMC) with plans to set up 5 RMC units this financial year.
Open FlipDue to monsoon season's rains recording a surplus, sowing of kharif crops has increased in India with the acreage slightly higher than last year. Paddy, cotton, sugarcane and oilseeds have seen good acreage growth as groundnut, the major oilseed grown in the country, is 1.2% higher from the corresponding period last year. India’s total oilmeal exports in June fell 35% on year.
Open FlipShares of RattanIndia Power slumped 6% on July 26th after the company reported increased losses and narrowing margins for the June quarter. Revenue grew only 1% while net loss was Rs 549.36 crore, up from Rs 389.3 crore in Q1 FY24. The EBITDA margin contracted to 18.5%, attributed mainly to higher fuel, power and labour costs. In the past three months, the stock has shot up by 60%.
Open FlipShares of Jyothy Labs hit a new 52-week high of Rs 312.15 on July 26, after the company reported strong earnings for the quarter ended June 2023. Their net profit was up 101.6%, with 15% YoY revenue growth and 96.3% improvement in EBITDA. Analysts have recommended buying the stock for its double-digit revenue growth potential and strong earnings visibility.
Open FlipCan Fin Homes' share price fell 7.8% on July 26th after reporting a misappropriation of funds worth Rs 38.53 crore from its Ambala branch by three employees using their cheque signing authority. The company plans to make a 100% provision and the fraud will affect FY24 profit by 4%, with a 10 basis point impact on June 2023 book value according to Morgan Stanley.
Open FlipShares of Transformers and Rectifiers India surged 4% to Rs 90.98 after the company secured a Rs 134 crore order from one of the central utilities. The company's total order book as of today stands at Rs 1,955 crore. The stock touched a 52-week high of Rs 111.95 & low of Rs 28.95 on 14 July 2023 & 27 July 2022 respectively.
Open FlipAjmera Realty's stock soared 6% on July 26 after they reported strong Q1 numbers and outlined goals for their future. Revenue increased 113% to Rs 118 crore and net profit was up 82% to Rs 21 crore. Debt/equity ratio fell to 0.97, and the company launched three projects with GV of Rs 1,800 crore this FY.
Open FlipShares of Amber Enterprises India Ltd declined 3% to Rs 2,196.40 due to unseasonal rains & weather patterns that weakened industry demand, leading to elevated channel inventories. The RAC & Components division showed improved margin amid change in product mix. Co. CEO committed to creating synergies & exploring new opps to expand presence & expects mobility div. to perform exponentially.
Open FlipYatharth Hospital's IPO is today and analysts are mostly recommending subscribing to the issue due to its strong financial track record and promising growth potential. With a price band of Rs 285-300 per share and plans to use proceeds for debt repayment, capital expenditure, funding inorganic growth initiatives, the company appears reasonably priced compared to its peers.
Open FlipUS$INR has weakened for the first time in last three days ahead of the key FOMC meeting while strong dollar inflows has restricted its fall. S expected to move between 81.60-82.00; only a move below 81.60 will weaken it further & move above 82.00 will rise it towards 82.20. Investors to watch out for the commentary on future path of interest rates.
Open FlipTata Motors Limited shares gained more than 3% on July 26, hitting a new 52-week high. The Board of Directors approved the cancellation of DVRs and replacing them with ordinary shares. The auto manufacturer reported stellar Q1 earnings with consolidated net profit at Rs 3,203 crore and revenue from operations up 42%.
Open FlipJubilant Foodworks' April-June net profit dropped 74% YoY due to elevated input costs and disruption. Equity analysts hold mixed ratings on the stock; CLSA rates 'Sell' w/ a target price of Rs460, Elara rates 'Accumulate' after downgrading, and Morgan Stanley has an 'Equal-Weight' and a target price of Rs510. Revenue increased by 6%, EBITDA by 9.6%, and operating margins were up.
Open FlipCEAT Limited shares rose 5%, trading at Rs 2,598 with 5 lakh shares changing hands on the NSE. For Q1, consolidated net profit was 15-folded at Rs 144 crore and revenue raised to Rs 2,935.17 crore. Expenses decreased to Rs 2,739.14 crore. Gross margin increased to 41.2%, EBITDA margin to 13.2%.
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