BIRLA CABLES
EU proposes anti-dumping duty on Indian optical fibre cable manufacturers
The European Commission has proposed a 8-11.4% anti-dumping duty on Indian optical fibre cable (OFC) manufacturers exporting to Europe. Sterlite Technologies, Birla Cables, Universal Cables, Vindhya Telelinks, and others are among the companies facing this duty.
Stocks in news: Apollo Hospitals, Muthoot Finance, Tata Steel, Kfin Tech, RR Kabel
Tata Steel Ltd on Wednesday reported 64% fall in its consolidated net profit at Rs 611 crore for the fourth quarter, compared with Rs 1,705 crore in the same quarter a year earlier.
Optic fiber cable component maker Runaya aims to grow rev to Rs 500 cr over next 3-4 years
The transition to 5G and the associated infrastructure upgrades are driving this demand, with the global market for fiber optic cables expected to grow from $9.2 billion in 2021 to over $12 billion by 2024, representing a compound annual growth rate (CAGR) of 10%, according to estimates by the company.
For risk takers with a long-term perspective? 6 midcap stocks from different sectors with the right ratio matrix
This week there was a sharp correction in the mid-cap index, and market breadth was also weak. This should serve as a warning to all those who are buying stocks without bothering to look at what is the business of the company. The way correction panned out, there is higher probability of a correction in mid-cap space continuing if there is more trouble with Nifty. But rather than bothering about what will happen to nifty in the next few weeks or quarters, long term investors looking to take exposure to the mid-cap should focus on individual companies and their underlying business. At the same time, because overall valuations are high, be ready for underperformance for some time and focus on the long term.
Aditya Birla Finance-Siti dispute: SC upholds Delhi HC's order, refers Rs 150 cr dispute to arbitration
The Supreme Court has upheld the Delhi High Court's order in the Aditya Birla Finance-Siti Networks Ltd dispute, requesting arbitration. The court clarified that all parties should present their defenses before the sole arbitrator appointed by the Delhi High Court. The dispute stems from a Rs 150 crore loan default involving Essel Group of Companies, Zee Entertainment Enterprises, Siti Networks Ltd, and Aditya Birla Finance.
Birla-Lodha Dispute: Calcutta HC clarifies power and scope of APL Committee
The Calcutta High Court, in the prolonged legal battle over Priyamvada Devi Birla's estate, ruled against granting full powers to the administrator pendente lite (APL) committee. The court clarified that the APL committee can only exercise powers held by Priyamvada Birla during her lifetime, focusing solely on her shares.
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NCLT admits Aditya Birla Finance's insolvency plea against Siti Broadband Services
In 2020, Siti Broadband had availed of a loan of ₹5 crore from Aditya Birla Finance, to be repaid in 19 quarterly instalments after a moratorium of five quarters from the first disbursement. According to Aditya Birla Finance, Siti Broadband has been defaulting on payments since November 2021.
Multibagger screener: 13 stocks trading below 5-year average PE. More steam left?
The PE of aerospace and defence player Zen Technologies, which makes military training live-range equipment and anti-drone systems, has fallen from an average of 225 to 76.6. HDFC Securities said that given a large order inflow and revenue visibility for the next few years, some more rerating is possible in the stock.
10 stocks surge 100-250% in FY24, but still below 5-year average P/E
In the fiscal year FY24, Indian equities have given strong performance, with the benchmark index Sensex experiencing a substantial 12% surge. Amid this bullish trend, many stocks have exhibited notable upward movements, effectively doubling investor wealth. However, in terms of valuation, a majority of these stocks appear to be somewhat overvalued. To identify undervalued stocks, ETMarkets has pinpointed 10 stocks that have achieved multi-bagger status in FY24, while still trading below their respective five-year average price-to-earnings (P/E) ratios. Furthermore, a significant portion of these stocks is trading below the P/E multiples of their respective industries. The P/E ratio serves as the most commonly utilized valuation metric and plays a pivotal role in the stock screening process. When a stock is trading below its five-year average P/E multiple, it suggests that the stock may be undervalued. It's essential to note that this analysis only considered companies that have consistently reported profits over the past five fiscal years and currently possess a market capitalization exceeding Rs 500 crore (Data Source: ACE Equity).
7 stocks crossed 100 SMA: Indiamart Intermesh, and more shine with impressive performance
Several Indian companies have demonstrated growth by crossing their 100 SMA (Simple Moving Average) on July 11, 2023. These companies include Indiamart Intermesh, Hikal, Aptus Value Housing Finance India, Finolex Cables, Ipca Laboratories, Aditya Birla Fashion and Retail, and V-Mart Retail.
Coforge, Amara Raja Batteries among 9 BSE500 stocks which have hit new 52-week high
Several stocks from the S&P BSE500 index, including ABB and Coforge, reached new 52-week highs, indicating a bullish sentiment in the market. Aditya Birla Capital, Amara Raja Batteries, Apar Industries, Birla Corporation, CCL Products, Cummins India, and Cyient also experienced significant increases in their stock prices, reaching new 52-week highs. These updates were sourced from BSE at 1:50 pm and may come with a lag.
Midcap Marvels: MRF, Corforge among 11 counters that drive S&P BSE Midcap index to new 52-week highs
Several stocks from the S&P BSE Midcap index surged to new 52-week highs, including MRF, Corforge, Aditya Birla Capital, L&T Finance Holdings, Lupin, M&M Financial Services, Muthoot Finance, PFC, Polycab India, REC, and Shriram Finance. These impressive performances indicate a bullish market sentiment. The data was sourced from BSE at 2.15 pm and may have a lag in real-time updates.
Q4 results this week: LIC, Shree Cements, Vodafone Idea, Sun Pharma, M&M, Nykaa and others
Several popular companies such as ONGC, M&M, Vodafone Idea, HUDCO, Shree Cements, BPCL, LIC, Nykaa, and Hindalco among others, are expected to release their quarterly earnings report later this week. The list of companies to report their results on each day include names such as Ashok Leyland, Sun Pharma, Aditya Birla Fashion and Retail, Grasim Industries, Radico Khaitan, Finolex Industries, and Hindustan Tin Works amongst others, during the period of May 22-27.
6 midcap stocks that have beaten volatile markets can rise up to 38%
After two weeks of straight up move, nifty witnessed a small phase of volatility but the bias of that volatility was still bullish, clearly indicating that the equation is still in favor of bulls. From an optical fiber maker which has been an improvement after a very long time to mid-cap software companies where results were better than expected have seen both an improvement in the score and with their price moving upward. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
Stocks in news: RIL, HCL Tech, Hindustan Zinc, Bank of Baroda, Nestle
HCL Tech has reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year.
Stocks in news: ZEE, Angel One, Poonawala Fincorp, SBI, Muthoot Finance
For the March quarter, Angel One has reported 17% sequential growth in net profit at Rs 267 crore, while EBITDA during the same period rose 20% quarter-on-quarter to Rs 370 crore.
Q4 results this week: ICICI Bank, YES Bank, HCL Tech, Tata Communication and others
In constant currency terms, revenue in the December quarter rose 5% sequentially and 13.1% YoY. The services business revenue rose 2.2% sequentially and 15.4% YoY in constant currency basis.
Orient Electric MD & CEO Rakesh Khanna resigns, Rajan Gupta to take over
Rajan Gupta has been appointed Managing Director and CEO of Orient Electric Ltd, succeeding Rakesh Khanna who held the position for eight years. Gupta's appointment is set to be ratified by shareholders from 4 April 2023, and he will be with the company for five years. Gupta was previously MD and CEO of Hathway Cable and Datacom, and prior to that worked at Tata Telecom, Hindustan Coca Cola and Asian Paints. Orient Electric is part of the C K Birla Group, with interests in fans, lighting, home appliances and switchgear.
HC refers Siti Networks' Rs 150-cr loan default case to arbitration
In 2017, Aditya Birla Finance had extended a term loan of ₹150 crore to Siti Networks under a credit arrangement letter. According to the lender, the interest rate was reduced from 16% per annum to 13% on the condition that Siti would reduce the outstanding loan to ₹75 crore before 2018 and Zee, a group company of the cable operator, would stand as a guarantor for the loan.
Big Movers on D-St: What should investors do with Cummins India, Birla Cable and Aegis Logistics?
Birla Cable has witnessed a breakout of triangle formation on the daily chart. After a breakout of the Inverse head & shoulder, it has retested its previous breakout level at around Rs 140.
Corporate Radar: Finolex Cables, Glenmark Life, IGL to trade ex-dividend; BEL bonus issue and more
Besides, Bharat Electronics and Rajnandini Metal shall trade ex-bonus for 2:1 and 1:2 bonus share issuances, respectively. Also, the rights issue for Libas Consumer is lined up for today as part of which the company shall offer the right to buy 1 share for every 2 shares held at Rs 21 per share.
Sensex rises! These stocks rallied over 15% on BSE in today's trade
In the Nifty50 index, 36 stocks closed in the green, while 14 stocks ended in the red.
Sensex rises! These stocks are up over 10% on BSE
In the Nifty 50 index, 32 stocks were trading in the green, while 18 stocks were trading in the red.
Stock market update: Nifty IT index advances 0.59% in a weak market
The Nifty IT index was trading 0.59 per cent up at 29195.9.
Stock market update: Nifty IT index falls 0.82% in a weak market
The Nifty IT index was trading 0.82 per cent down at 28980.85.
Sensex rises! These stocks gained over 10% on BSE
In the Nifty 50 index, 42 stocks ended in the green, while 8 stocks closed in the red in today's trade.
Buy Birla Cable, target price Rs 157: Axis Securities
Birla Cable Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 456.15 Crore) operating in Cables sector.
Ahead of Market: 12 things that will decide stock action on Monday
Rupak De, Senior Technical Analyst at LKP Securities, said going forward, the recovery may continue as long as 16,550 is held decisively. For Mazhar Mohammad, Founder & Chief Market Strategist, Chartviewindia.in, for the next couple of sessions, Nifty needs to sustain above 16,478 levels to develop sideways to positive bias.
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