CHINA RAILWAY ROLLING STOCK CORPORATION
Forgot Modi stocks? Numbers indicate don't write them off. 26 are already back. Budget tailwinds may bring more of them back to limelight again
Just before the election results were announced, some domestic and foreign brokerages came out with a report about a set of stocks which were called Modi stocks. The number varied from 50 to 55 stocks. The reason why they were called modi stocks was the fact that these stocks were from sectors which were expected to get renewed policy push once the third term of the Modi government started. This list had stocks which would power data centers, which is essentially an AI play to green energy stock to PSU stocks from sectors which were getting strong policy push. But then political arithmetic turned different and everybody forgot about them. One month later, if one looks at them, it is clear that while the term “ Modi stocks” might be off the headline, in terms of performance, the picture is very different from what most have been thinking. It is far better and there is a high probability that it might get better.
Pumps, pipes, credit, mass housing and employment generation could be the focus areas in Budget: Yogesh Patil
Manufacturing focus from government actually will create higher jobs and improve the per capita income. So, mass consumption category, which has not done well in last two years, is expected to do well in coming years.
Chinese, Indian stocks favoured over Japan in Asia’s second half
Expected Federal Reserve interest-rate cuts are poised to benefit two key emerging markets: China and India. Survey respondents expressed a preference for Chinese stocks due to their attractive valuations and anticipated policy shifts. Indian shares, on the other hand, were favored for post-election optimism and their relative resilience to geopolitical tensions.
Weekly Top mid and smallcap picks: These mid and smallcap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
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Dhiraj Agarwal on the next big trigger for equity markets
At least for a couple of months, China pulled in a large amount of inflows by the global investors. I have not seen the most recent data, but Feb-March they pulled in about $40 million. Something like that happens, it obviously impacts the amount of flow, which could happen in India. So, on the FPI flow, it is just a toss-up. I mean, it is very difficult to predict, honestly.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Exide has surged 80% but still not overvalued? Sudip Bandyopadhyay explains why
Transition from IC to electric vehicle is giving a significant opportunity to the battery manufacturers. And remember, in IC, the battery used to be one component, whereas in EV that is going to be the most important component. The opportunity size for the battery manufacturer in the automobile ecosystem is going up many-many fold, says Sudip Bandyopadhyay
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Bengaluru Metro's Yellow line gets a boost: Titagarh rail systems to deliver first trainset in August
Titagarh Rail Systems Limited has started producing trainsets for the Bangalore Metro Rail Corporation Limited's Phase 2 Yellow Line project, a contract with China Railway Rolling Stock Corporation. The first trainset is scheduled for delivery in August 2024. The contract, initially signed in December 2019, faced delays and CRRC sought additional time for delivery.
Minister & Policy Continuity: Will it lead to re-rating getting sustained ? 7 stocks of railway’s ecosystem.
While it became clear on the day of the election result only that the same government is going to continue. Some doubts were raised as to whether there would be a shift in policy focus. A part of the answer has come in the form of portfolio allocation. Some of the key sectors which mattered to the street because they had seen a re-rating and valuations are high, the continuation with the same minister is an indication that government is clearly focussed on continuation not only with a policy focus but it also does not want to waste time in getting a new minister and spending time in him/ her understanding the core work. Now this should bring relief to some companies as their projected plans and workflow will continue. Which means that expected growth which the market has put in its estimates of earning has a high probability of continuing.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
General elections 2024: A weaker mandate to impel policy reset
The underwhelming election results reflect voters' focus on economic and livelihood issues over free-food distribution. The need for productive employment is becoming a dominant necessity in policy considerations.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 41%
The street has got what it was looking for, exit polls predicting a win of NDA which essentially continues the policy making framework which has been in place for the last ten years and has been working well for the economy. There is another thing which will happen, there are going to be some areas which will get more focus in the coming days. So, next we might see some sectors and stocks doing extremely well, while others may continue to be laggards. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Candidates of strong directional move on 4th June: 5 PSU stocks which have benefited the most due to government policy push and spending
In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.
Volatility has risen as Lok Sabha Elections 2024 fever grips the stock market; will polls halt the rally?
Volatility has risen in recent weeks as election fever grips the market. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey?
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Railways stocks: Stay bullish, just hedge a bit to avoid mistake of selling in haste: 7 outperforming railways stocks across different segments
Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which are sitting with big gains and are dependent on government policy push. Railways was among the last sectors to get re-rated due to the policy focus. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches, all of them have done extremely well. Given the fact the railways is likely to be the focus area, the long term story remains intact. Only thing is that one might end up selling the long term winner early because of the narrative. Rather than getting jittery, it would be better to create a hedge and stay with the stocks where there has been a big change in the fundamental ways things operate and the sector has a long runway.
JP Morgan’s Rajiv Batra on why FIIs are selling and how to position portfolio now
Rajiv Batra of JP Morgan discusses the positive macroeconomic indicators in India, including PMI prints, the Sagar Mala initiative for waterways, and upgraded GDP forecasts. He highlights the growth potential in sectors like water transportation and domestic manufacturing. Batra says: "We are much more positioned on domestic cyclicals, domestic demand, which keeps us overweight on still financials, autos and real estate overall."
4 PSU stocks which are gig beneficiaries of the government focus on power, railways & infrastructure projects
What should a company which is lending both for short and long term but only to a particular sector be called. A “sectoral lender” or “term lending institution”. The obvious answer would be a sectoral lender. But the fact is that these are term lending institutions which come with its own advantages and disadvantages. The word “term lending institution” is not a word which many on the street would know or remember because this word was used a couple of decades back when ICICI, IDBI were not banks but term lending institutions. The difference between today’s PFC and IRFC of the world and old timer ICICI is that the PFC and IRFC are focussed in lending to a sector, whereas in old days, ICICI used to lend to different sectors. Another big difference is that PFC and REC have lower cost of capital as compared to term lenders like in the old days. Because some of these PSU lenders have come into public space recently, even analysts seem to be getting on the wrong foot by being less than optimistic.
Indian manufacturing seeing opportunity to tap global markets: Sunil Singhania
And I think as we speak, despite what we have seen over the last four years. Once in a decade, once in a century kind of challenges like COVID or the Russia-Ukraine issue or multiple other geopolitical issues, I think the Indian corporates have got their act together, have got the balance sheets in order and along with it we also have a government who is very resolute in turning India into a developed country.
‘Expensive’ India lures investors avoiding China risks
Indian equities now trade at around 23 times next year’s expected earnings, exceeding even US, and outpacing the 17 for Japan and about nine for China, according to data compiled by Bloomberg based on MSCI Inc.’s indexes.
Making a comeback after 3 decades? 4 stocks of sector-specific term lending institutions with focus on power & railways
Term lending institutions as a sector or as a set of companies is not something which many on the street would know or remember because this word was used a couple of decades back when ICICI, IDBI were not banks. They were term lending institutions who used to give loans to companies for specific projects for a specific period of time, which used to be normally longer term as compared to banks. That model failed for multiple reasons that is why the word “ term lending institution” became a bad word or one can say went into oblivion. The one company which did not change itself for multiple reasons is IFCI and we all know what happened to it. But if one looks at some of the companies, their essential model is to provide capital for the long term. The only difference is that they are catering to specific sectors, the whole chain of companies in that sector. So they can be called “ sector specific term lending institutions” and yes they are once again back on the street because there is a world of difference in today and what things were 10 years back.
Big beneficiaries of government focus on sectors like power & railways: 4 PSU stocks with focus on sectoral lending
One segment where upward movement in stocks has been seen with much more skepticism than any other sector has been the government owned “term lending institutions” or what is commonly referred to as sector specific lenders like REC, PFC. There are multiple reasons for this skepticism, right from the fact that these stocks have either been market underperformers or at best market performers in some phases. So, when they move upward sharply, questions are bound to come. But is the historical bias against PSU making one overlook the underlying changes which a cleaner sectoral growth can bring to?
India asks traders to avoid buying new-season wheat to shore up state stocks
India urges global and local trade entities to refrain from purchasing new-season wheat from farmers to support the Food Corporation of India (FCI) in bolstering its diminishing reserves. Dry weather has impacted wheat output, prompting the government to intervene to stabilize prices and ensure sufficient supply for welfare programs.
Budget 2024: Railway stocks trade off highs; was FY25 Interim Budget a disappointment?
Shares of railway stocks dipped after Finance Minister Nirmala Sitharaman's interim budget presentation. The government plans to invest Rs 11.11 lakh crore in the rail sector for 2024-25, including converting 40,000 rail bogies to Vande Bharat standards and creating three rail connectivity corridors.
Union Budget 2024: Railway stocks gain up to 5% on hopes of 15-20% higher capex allocation
Railway stocks rallied today ahead of Interim Budget 2024 on expectations of higher capex allocation. Jupiter Wagons, Indian Railway Finance Corporation (IRFC), and Rail Vikas Nigam Limited (RVNL) lead the gains. Axis Securities predicts a 10-15% increase in government capex in FY25.
Policy support likely to continue: 4 stocks from railways sector with upside scope of up to 30%
Railways was among the last sectors to get re-rated due to the policy focus. But the speed at which the stocks got re-rated was very sharp. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches in the last eighteen months all of them have done extremely well . After they reach a certain level of valuations where they may not be classified as cheap. The question is whether the policy push which may continue in coming years will make their bottomline move up sharply which ensures that not only valuations are taken care of but also there is continued re-rating.
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