Hindustan Zinc
Hindustan Zinc Limited (HZL) has announced plans to distribute a second interim dividend for FY25, the details of which will be finalised by the board on August 20, 2024. The shareholders eligible to receive the dividend will be determined on the basis of the record date of August 28, 2024. HZL is also preparing for a substantial special dividend payment amounting to Rs 8,000 crore.
Suzlon
Suzlon Energy's recent acquisition of a 76 per cent stake in Renome Energy Services is set to enhance its market share and enable it to expand into new markets. Renome, the largest multi-brand renewable energy operation and maintenance (OMS) company in India, was acquired from the Sanjay Ghodawat Group (SGG).
RVNL
Rail Vikas Nigam Ltd, or RVNL share price jumped over 4% in early trade on Tuesday after a couple of positive developments for the railway PSU stock. RVNL shares gained as much as 4.6% to ₹601.75 apiece on the BSE.
RVNL shares are estimated to attract passive inflows worth up to $219 million as 31.8 million shares will be traded, according to Nuvama Alternative and Quantitative Research.
RVNL shares extended rally from an 11% jump in the previous session led by strong buying momentum in the railway stocks.
RVNL stock has also been upgraded to the large cap section of its Emerging Market India by the global index provider.
All changes will be implemented as of the close of August 30, 2024, MSCI said.
RVNL share price is on the cusp of fresh breakout at ₹625.
breaching above this level, RVNL share price is expected to touch ₹700 apiece in the near term, said Sumeet Bagadia, Executive Director of Choice Broking.
Bagladia has included RVNL shares in the list of his top breakout stocks to buy today. Bagadia recommends holding long RVNL shares with a target price of ₹700 per share after a breakout at ₹625. He suggests adding a stop loss in RVNL stock trade at ₹540 level.
The multibagger railway PSU stock, RVNL shares have more than doubled investors’ money in just three months. RVNL share price has jumped over 120% in the past three months period, while the railway stock has rallied more than 217% year-to-date (YTD).
Tata Steel
Tata Steel announced the acquisition of 115.92 crore shares worth $182 million (Rs 1,528.24 crore) of its Singapore-based subsidiary, T Steel Holdings Pte, with shares priced at $0.157 each.
SBI
Lender hiked its MCLR by 10 bps across maturities. Also Karnataka government decesion to stop all transactions will keep the stock in focus.
BEL
BEL stock was trading at Rs 302.1 on Tuesday with a gain of 0.23 percent. Yesterday the stock closed with a marginal decline. In the last one year, BEL company shares have earned a return of over 128.86% to its investors
The 52-week high of the company's shares was Rs 340.35. The lowest level was Rs 126.7. BEL stock has a PE of 52.08% and EPS of 9.02%. On Wednesday, August 14, 2024, BEL stock closed at Rs 294.65 with a decline of 0.51 percent. On Friday (August 15, 2024), the stock was trading at Rs 298, up 1.34%.
As of June 30, 2024, the promoters of the company held 51.14 percent stake in the company. FIIs and mutual funds held 17.43 per cent and 16.08 per cent stake in the company. BEL reported sales of Rs 4,447.15 crore for the quarter ended June 30, 2024. The company had reported sales of Rs 8,789.51 crore in the previous quarter. This is down 49.4 per cent quarter-on-quarter. BEL reported a net profit of ₹791.0 crore for the June 2024 quarter.
The BEL stock is indicating a strong bearish outlook on the MACD index. The MACD index is known for trend reversals in index-traded securities or indices. It shows the difference between the 26-day and 12-day simple moving average. Also, the signal line is shown to show a nine-day exponential moving average. This line serves to reflect “buy” or “sell” opportunities on the MACD index. When the MACD line crosses below the signal line, it is considered a bearish signal.
HAL's
The defence major reported a consolidated net profit of ₹1,437 crore for the quarter, a 76% increase from ₹814 crore in the same period last year. This net profit was bolstered by a tax refund of approximately ₹256 crore.
Revenue from operations for the quarter reached ₹4,347 crore, marking an 11% increase from ₹3,915 crore in the corresponding quarter of the previous year.
Analyst Reactions: Jefferies maintained its “buy” rating on HAL with a target price of ₹5,725. The analysts noted that while the defence contractor’s revenue beat its estimates, EBITDA came in lower due to margin contraction.
However, the research firm expressed confidence in HAL’s strong order book, which supports expectations of double-digit growth over the next three to five years.
CLSA also maintained its “outperform” rating on HAL with a target price of ₹4,731. Despite a weak Q1, the order pipeline remains intact, the brokerage noted.
The analysts also highlighted that HAL’s EBITDA decreased by 6%, but profit after tax went up 14% year-on-year. The slowdown in orders was primarily due to delays in Russia-linked programs, the brokerage noted.
Antique Broking also maintained its “buy” rating for the stock with a price target of ₹6,145. This indicates an around 30% upside from the stock’s last closing price. The brokerage said that HAL delivered a robust operational performance in Q1FY25, beating its estimates on revenue, EBITDA and net profit.
Overall, analysts remain confident in HAL's business prospects as India continues to modernise its armed forces, driven by factors such as obsolescence and an uncertain geopolitical environment. This modernisation is expected to result in strong orders for fighter aircraft and helicopters, along with the development of their respective engines and accessories.
Price Action:
HAL’s share price was up 1.35% to trade at ₹4,724.80 as the markets opened on Friday.
On the last trading day, Hindustan Aeronautics opened at ₹4708.85 and closed slightly lower at ₹4698.4. The stock reached a high of ₹4811.15 and a low of ₹4595.6. The company's market capitalization stood at ₹311739.43 crore. Over the past 52 weeks, the stock has fluctuated between a high of ₹5675 and a low of ₹1767.95. The BSE recorded a trading volume of 121026 shares.
.png)
.png)
0 Comments