Analyzing Key Stocks Ahead of Budget | Aditya Agarwala Top Stocks In Market Fatafat | Stock News

Hello, good afternoon. You're watching market foot up at on ET Now. I'm Vinny Motiwala with Michelle. This is as well Shuttle. A very good afternoon to you as well and surely a decent day coming in for the markets. 24,100 is what it's managing to hold on to even as of now. Absolutely a very good afternoon to you, Winnie. And yes, we are near that tracker high levels for the Nifty as we speak we surpass the 24,100 mark. So yes, we started on the week on a good footing at least as of now. Let's take a look at what Nifty Bank is doing in the day. Its participating with the benchmark indices in sort this sort of an up move. So there you go. Nifty Bank moving exactly in line with the benchmark indices and the broader markets also holding on to the positive territory. As of now almost 400 points recovery coming if a Nifty Bank from the days lowest point. If you look at the advanced decline ratio very much tilted in the favor of gainers and also you have the IT stocks that are leading from the front. Given the fact that a lot of brokerage notes coming in for the IT previews, Vini absolutely IT surely lot of brokerage notes we have seen and we will talk about all the stocks later on in the show as well. But with that, let's get started with the stocks that I have been buzzing in trade on the back of these floors and technicals. And from the research team right now, we do have Jina as well as Ansh joining in ADAS and also inform a short while from now well be joined by Aditya Agarwala from the technical side as well. But let me start then with the first talk that we should be talking about today. That is JV Pharma that is in focus today. Now Kotax Security has initiated coverage on this stock. They have initiative of the buy rating target price of ₹2025 per share, which is a decent upside of around 17% from YEAH Fridays closing price. As of now, yes, the stock is managing to just hold on to gains of almost 3% of the days highest point. But other than that, they're focusing in terms of the efforts that they're making for the CMO business, which will propel the earnings of the company. They expect a good growth in terms of 17 to 18% in EBITDA and profit over the next three years. And what Kotak highlights that they see an improved Mr. productivity in India amid the amid a healthy CMO order book that the company has so steadily outlook that they see for the company. So yes, that's why they're keeping an eye out on JB Pharma in focus on the Bank of Kotak securities initiation note. All right, so that is all about JB Farmer. Let's talk about Career Vice Bank because given the fact that we have started a brand new month, also we've ended the quarter gone by. So a lot of operational updates now coming in from company. So you have Career Vice Bank which is holding on to good gains. Earlier on in the trading session, it came out with this Q1 operational performance where they think the advances were up by about 16 odd percent while the deposit saw an increase of above 14.4%. So the numbers were 77,709 crore rupees is what the advances stood at at the end of June 30th, higher by about 16.1%. While the deposits stood at around 92,349 crore rupees, which is higher by about 14.4% on a year on year basis. So these are the provisional numbers coming in. Also, they said the total business of the bank was higher by about 15.2% on a year on year basis. While the credit growth was similar to the previous quarter, annual deposit growth slowed from 16.3% on year in the quarter ended March. So you have the company coming out with the cooperatively performance and on back of that color why it says in focus. OK, Surely keeping an eye out on the Karul Riser Bank after its Q1 update, let's move and talk about all cargo logistics. We do have some volume numbers, Ansh, that have come and what's the stock doing and what are the numbers looking like in terms of operational update, right. So the stock is trading about 2% in trade today. Actually, company has come up with a monthly operational update and LCL volume for the month of May 2024 has witnessed an increase of 4% as compared to April 2024. And the company has said that the volumes are expected to improve on the back of reflecting an increase in freight rates. Also, company has witnessed an increase in volume in all major regions like APAC, Latin America, United States, Europe and in Middle East as well. Whereas container utilization has improved marginally on the back of increased volume. Whereas if you talk about FCL volumes, then that for the month of May 2024 has witnessed a significant increase of around 10% as compared to last month and 15% compared to May of 2023. Volumes were high in APAC, Latin America and Middle East as well. Also, if you see the chart in the stock is down actually 35% from this year's high and RSI indicator is showing an overall region, which is a positive sign for the stock. Alright, let's move on. Let's talk about United Spirits then. And Janay, coming to you, why is this one in focus? Well, as a Macquarie has come up with a note, they have maintained their underrating performance on this with the target price of rupees 1000. What they say that the muted volume growth is likely to continue in Q1 as well, mainly on the back of elections and the heat wave throughout the country. Now they're expecting a 10% growth in terms of prestige sales for Q1 and regular sales. They are telling that it will be flattish when given that there is a continued weakness across the mass and segment. Now on terms of a beta, they're telling that expecting and consolidating Abita to benefit on the back of healthy Abita by their IPL subsidiary. But overall, there is an underperformance in the stock. And if you look at the stock price, it's trading with a downtick of about 1% in Ireland, United Spirits there. But yes, bit under pressure. Let's move on. Talk about work hard because that's passing away in trade and optic of almost 19% is what we are seeing intraday for work hard. In terms of the stock move now, yes, there are a couple of new things that we are keeping an eye out on news flows. One, the price band changes has come in from 5% to 20% for the stock. So right now you can see the stock is locked in upper circuit 20% uptake there. And other than that, on Friday, what came in was also that they have claimed a breakthrough in the drug resistant infection in cancer patients with their experimental drug Zionic, which they're keeping an eye out on. the US body has awarded highly susceptible to the antibiotic is what we have understood. And this is the main reason that we have seen work hard, even buzzing in trade on Friday, today also managing to hold on to strong gains. This is supposed to have a big market and that will be something that will lead to a better growth for the company going forward in terms of this launch when it comes out as well. But we also managed to speak to the management of the company, the founder and chairman of the company in terms of new launches, what is what are they optimistic on in terms of the pipeline that one could expect going forward? Listen is new antimicrobial product basically and its works on resistance like Organism and it has a new class of antibiotic and there is in India about 750,000 patients resistance cases are there and it will work on those patients. MC theft that is the fitromycin is an oral drug. It is used in pneumonia cases where there is a very significant resistance is I has 60% to existing product and when it is oral drug don't work, people get hospitalized and that is where our drug is very effective. It has 97% success rate and it's just a three day treatment and it is a single drug treatment versus multiple drug even overly doctor uses today. All right, so that is the management of workout and the stock is actually locked in opposite #20%. But on that note, we slip into a break. When we come back, most talks to discuss don't go anywhere. Welcome back. You're watching Market Patafa Town ET Now and we do have Aditya Agarwala joining in with us on the technicals as well. Aditya, very good afternoon and thank you so much as always for joining in with us. But let's start with your first talk for today, that's Alembic Pharma. What is the word coming in on the technicals for this one? Hi Weenie, thanks for the show. Good afternoon to you as well. A stock has broken up from a downward sloping channel after long consolidation phase. And looking at the rest of the pharma pack, I think this is 1 farmer stock which was due for an up move. And after a breakout in trade today, it's getting up for that up move on the upside. So I think if it sustains above 980, so 9/29/25 odd levels, it can test levels of 980 and 1000 on the upside. So above 920 I'll be a buyer in the stock, which is almost there for a target of 980 thousand. On the downside, 889 oh oh is a very strong support area. So there is to reward. We need also in favor of going down and currently in the stock. Plus, if I plot the volumes, it has already surpassed previous weeks volume. So overall, it looks like a very healthy looking chart setup and one should definitely look at going fresh long in the stock at current levels, right. So that's the take coming in on Alembic Pharma. But we spoke to Mihirora, who is the CIO at Trustmutual Fund and he has a neutral view actually on the farmers face as well as the cement space. Let's listen in to rational kind of mutual on the sector. We have 3-4 names in the in the segment. So we're neutral. But I think the worst is over for the sector and we'd be looking to pick more stocks in this segment. I would say more of the generic exporters because that's where the maximum stress was for the last four or five years. And that's where we hope the, you know, turn around will happen. So cement we are, I would say, neutral and I would not play for margin improvement in the sector. So we prefer stocks which are going for capacity expansion. So over the longer term, I'd rather favor volume expansion and capacity expansion rather than margin improvement. All right, let's move on then since I said it was the start of a new quarter as well as a new month. Now we have a lot of operational updates coming in and REC the earning season also. That's what is giving me the stress now. Sheryl actually should give you all smiles. Also Vinnie, you don't have the stocks, Yeah, more stocks. So its up to Milega stocks basically. That's all it is. But let's talk about REC right now and why is REC buzzing in today? Because we've come out with your QQ one operational performance where they're saying they've sanctioned loans of about 1.12 lakh crore rupees, which is higher by 24.2% on a year on year basis. And also apart from that the loan disbursements were higher by 27.9% on a year on year basis in the quarter gone by. So the loan disbursements let's I will give our loan sanctions were at 1.13 lakh crore rupees and also out of the loan total loan sanction loans for renewable energy were to the tune of about 39,655 crore rupees which is above 58.7% higher on a year on year basis. So healthy numbers coming in for the loan sanction disbursement and that's why REC is holding on to gains above 4% as we speak. Many absolutely long moves coming in post. We saw that update coming in the uptick came in the stock as well. But let's move on and talk about Emudra then and Anshua is this one in focus today, right? So the stock is up over four person in trade today. So it's very moving strongly in put direction. So the wholly owned subsidy of the company has concluded and signed agreements to acquire 100% ownership interest of TWO 95 international. This is a company of USA a digital transformation solution and services company for consideration of around $10 million. The acquisition is subject to customary closing conditions which are expected to be completed within next three to four weeks. Accordingly, the company will inform the of the transaction to the stock exchanges as well. All right, so that is about Emudra, but let's talk about Piramal Enterprises then. Aditya, how was the chance for Piramal Enterprises looking to you? Do you think it's reach A level which you can't call attractive or are you seeing some signs of a breakout or so? I'm looking at a breakout. Cheryl, good afternoon. After a long consolidation phase, I think stock is getting up for a break of the resistance is at 940 immediately. What is interesting is if you take a look at the last two weeks, massive volumes have happened in the stock, could be a block deal. I'm not too sure about why that kind of massive volume took place in the stock. But yes, there was massive volume in the stock last couple of weeks. The price hasn't moved yet and above 940. I think stock will trigger a fresh up move on the upside for targets of 980 to about 1000 again on the upside. And if it breaks out of 1000, it can also test levels of 1100. So the larger longer term timeframe chart structure of pyramidal definite looks very strong and one can start nibbling into the stock at current levels for more of a personal trade for a target of 1000 to about 1100 on the upside. On the downside, immediate supports are at 9:10 to about 900. So again very close to support areas and the and the rewards are significantly higher plus RSI has crossed its previous peaks. Overall. Its a very good looking chart setup for the stock. All right, so that is all about Pyramid Enterprises as well as good afternoon to you Aditya. I realize I missed greeting you, but Vinnie looks like is going to be a great afternoon after great weekend. We are seeing good moves in the market also absolutely good and moves in the markets that you know momentum has seemed to have continued for the markets. But let's move on to the next talk that we're going to talk about at #10 is Dixon Tech that's also and focus buzzing away and trade Jana Vaz. So HSBC came up with a note. They are maintaining their buy rating and they hike the target price from the earlier price of 8800 to the new target price for rupees 12,800. What they believe is that policy environment is something likely to remain favorable in terms of the company. They say that thanks to all the policy measures that has a lot has happened in last five years in India. If we talk about the electronic sectors in particularly also given that high electronics trade deficit policies are likely to continue to support more back integration and export opportunities for the company and that is why they are retaining a buy rating on Dixon Technologies on Dixons strong scale, strong balance sheet and healthy client relationships. That is Dixon tech for you all surely keeping an eye out on that one. But let's move on. And the next talk that we're going to talk about is IREDA that's in focus. Why? Because Q1 updates that have come in for a radar. When you're looking at it in terms of the business update for the first quarter, the loan sanctioned is at 9136 crores. And overall when you compare it to the same time last year, they've seen a good growth in terms of the dispersed loans also is at 1893 crores, which has grown around five times nearly on a year on year basis or good growth there. Dispersed loans during the quarter stood around 5320 crore rupees, which is 67% growth compared to 3100 ₹74,00,00,000 last year. So yes, a good Q1 update that's coming from the company also in terms of that 54 EC changes that came in there, That was also the reason that we were keeping an eye out on that. But we managed to also speak to the management, right on all these issues. On the 54 EC, how does that play out for the company as well as in terms of their numbers? So let's go across a little bit. We are expecting that probably now that is in advanced stage and they will take a family call on this along with us. Also I came to know who had also submitted their request. If we get so, in addition to PFCRDC will be another two agencies so we can go to market and we can raise from the market assuming it was 5.25 or even 5.5. Today we are raising from the market at 7.57 point 4, something like that because one is back. We raised around the Federated crore for 10 years and it was 7.42 so against that if it 5.2 so almost 150 to 200 bits difference will be there. And if we pass on that to the sector, remember one thing the new and emerging sector the the challenge challenges are more. So when challenges are more we lower that risk factor to the interest. So many projects which are not becoming bankable today because of the that lowering, if you have a cheaper source of borrowing then that much can be passed on to the sector. And the project which are not becoming bankable today, those will become bankable and that will further speed up this 500 GW target in the country as the management of it up. But let's talk about persistent systems and what are rally underway for the entire IT pack, isn't it Aditya? We're just talking about quarterly numbers and looks like that's one also one of the triggers for these IT counters. But on the charge house persistent looking to you because this one is actually outperforming the large cap players also, isn't it? Absolutely, Cheryl. And this is something which I've been talking for some time now. the IT stocks, whenever you get a dip, you should look at accumulating the IT stocks. Predominantly. This was the reason because sooner or later you could you would see that kind of enough move. And what a remarkable recovery for persistent systems from the lows of around 3200, stock is now sitting at a fresh all time high and above 4500, I think. So stock is good to go to level 5 thousand 5200 as well. Don't miss out on these IT names when they were giving you opportunities to go long, you should have actually, I think these are still good levels to go long on persistent system on the upside, like I mentioned, 5 thousand 5200 targets on the downside, if you get a dip closer to about 4400 or maybe 4300, add on to your positions because this talk I think will head high from current levels and all the indicators are also supporting the bullish view. So there's no reason not to go long on stock, reason for not to go long on persistent systems is the word coming in from Aditya. But let's talk about Bipro then. And that one also is seeing a good move is in fact the top gainer on the Nifty in today's training session. And CLC has come out with a note and particularly for CLCS note, if you look at the rating, they've double upgraded Bipro, they've upgraded to an outperform rating, permanence while underperformed rating. And they've also gone ahead and tie hiked the target price about ₹607.00 per share from ₹431.00 per share. So on back of this double upgrade coming in from CLSA, you can see Wipro logging in really strong gains, about 3%. Not just Wipro, you have Tech Mahinda, you have Infosys, you have TCS, all of them seeing good gains in trade today. Vini absolutely seeing good gains and trained over there for all the IT PAC as well as Wipro. And that was a preview note that came out as well. So on the back of that, you know, the double upgrade came in in their preview notes. It's going to be interesting to keep an eye out on this quarters numbers, especially for the whole IT PAC and you know whether this is finally a turn around that we will start seeing for the numbers coming in for these companies. But let's move on. Talk about JSW Energy and unsure why is that stock in focus today. The stock is trading over a percent today. Actually GSW New Energy, a wholly own subsidiary of the company has received a letter of award for Wind Solar Hybrid Power project of 300 MW against tariff based competitive bid invited by SGVN Limited for setting up 1500 MW ISTS connected Wind Solar Hybrid power project. Subsequent to this capacity award, the company's A total logged in capacity has increased to 13.9 GW. With this hybrid project, the company of further strengthens its energy solution offerings while moving towards an energy product and service company. Also if you see on chart then the stock seems to have touched a record high level today. Also if you see on a broader time frame then the stock has gained over 20% in last one month itself. OK, that is JSW energy for you all. Let's move on to the next talk. And Aditya picked out a name coming in from the FMCG pack. That's Dabur. What are you looking at in terms of the charts and technicals for Dabur? Because FMCG not much of A performance just you know, post those elections we've seen that run up come in. But what is the view now on Dabur? I think most of the FMCG pact will make a comeback winning after consolidation. As you mentioned, they went up post election results and after that they've entered into a consolidation phase. These stocks look like they're getting up for the next leg of rally and our could be one of the leaders within the FMCG pact to start the rally. It's it's getting up for a breakout from a consolidation phase. I think on the upside stock can easily test levels of about 650 and 660. Those are the levels I'm looking at. On the downside, immediate supports are at 59580 five and look at the classic case of consolidation wherein after a good up move on volumes, volumes have dried up in the consolidation phase. And if the volumes pick up on breakout many items. So stock we'll see new highs in the near term and restore what is also in favor of going on as I mentioned. Plus the RSI also is looking bullish at the current momentum play. So overall, it's a very good looking stock for me. All right, on that note, we slip into a break on this edition of Mark Ibattafat. When we come back, most talks to discuss so don't go anywhere.