COAL INDIA CAPEX
Nifty bull case target at 27K, says Axis Securities; bets on HDFC Bank, Bharti Airtel, others
Axis Securities expects reduced volatility and a smooth US market landing, targeting Nifty at 27,000 for March 2025 (bull case) and 24,600 (base case). They recommend stocks like HDFC Bank, ICICI Bank, Coal India, Nestle India, SBI, HCL Tech, Federal Bank, Varun Beverages, TVS Motors, Bharti Airtel, among others.
Rs 7 lakh crore profit in 10 days! Why PSU stocks are rallying like Modi managed '400 paar'
Investors initially skeptical of PSU stocks after BJP's election setback on June 4 have seen a reversal. PSU stocks, down 16% post-election, now lead a bull run akin to Modi's '400 paar' ambition. Mazagon Dock's 48% rise drove the BSE PSU index cap up by Rs 7.24 lakh crore in 10 sessions. RCF surged 33%, Cochin Shipyard 24.5%, HUDCO and MMTC 23%, with HAL, BEL, and BHEL also gaining.
Parent of India's Vedanta proposes to cut debt by $3 billion over next three years
Vedanta Resources, the UK-based parent company of Indian miner Vedanta Ltd, plans to cut its debt by $3 billion over the next three years. The company, which has been facing multiple rating downgrades due to liquidity issues and high default risk, will use the newfound liquidity from its $3.20 billion outstanding bonds to fund crucial capex projects.
Any further correction in India can spur FII flows: Chris Wood
A lot of the recovery has been the high end of the market. So, the key issue for this real estate market right now is that will the recovery broaden out and the other issue is will there be policy measures to promote the more affordable end of the housing market, that seems to me a possibility.
Surprised by today's market rebound; expect near term caution in capex-led themes: Chris Wood
I think it is a bit premature to assume that because you have still got the horse trading. I mean, clearly the base case is that the current government remains in power with coalition partners and that is not a disaster. But the reality is the great virtue of the last 10 years has been clear government, consistent policies, and not having to worry about horse trading between parties, which is always a feature of coalition governments.
ITC among 18 large and midcap ideas from Motilal Oswal post election verdict
Motilal Oswal identifies sectors with overheated valuations likely to become attractive post-elections. Picks include large caps like ICICI Bank, ITC, and HCL Tech, and midcaps such as Indian Hotels and Godrej Properties. Outlook remains positive with strong macros and corporate earnings growth.
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Tata Steel credit metrics to improve in FY25: CreditSights
CreditSights predicts Tata Steel's credit metrics to improve this fiscal year due to increased domestic steel demand, lower coking coal prices, and a strong EBITDA growth in FY25. It expected net leverage to enhance. Despite a significant drop in consolidated net profit for the March quarter, CreditSights believes Tata Steel's annual results were better than expected, with revenues and EBITDA declining due to losses in Europe and higher expenses.
15 stock ideas from Motilal Oswal after mega BJP win prediction by exit polls
"Fundamentally, India is witnessing its own mini-Goldilocks moment with excellent macros, solid corporate earnings (Nifty ended FY24 with 25% earnings growth and FY25/26 earnings are likely to post 14-15% CAGR), focus on manufacturing, capex and infrastructure creation, and valuations at 20x one-year forward earnings," Motilal Oswal said.
Credit growth slows in April across major sectors
Bank credit growth is expected to moderate 200 basis points (one bps is 0.01 percent) to 14% this fiscal after an estimated robust growth of 16% in fiscal 2024, according to ratings firm Crisil. Strong economic activity and retail credit demand drove loan growth last fiscal. This fiscal growth will be tempered by a high base effect, a revision in risk weights and a somewhat lower gross domestic product growth, it said.
Expect debt to remain stable; won't reduce significantly this year: TV Narendran, Tata Steel
So, this year is going to be a very crucial year, turnaround in Netherlands, last year was a loss, this year will be a profit at least at an EBITDA level and the UK second half we hope to move from a loss making facility to at least a balanced facility.
Capex to remain in Rs 6,000-7,000 crore range in coming years: Satish Pai, Hindalco
I have to caution that it is very hot. Power demand is going up. We are going into the monsoon period. So, we will have to wait and watch and see how the coal prices respond. Right now, there is sufficient availability of coal and as you said, the prices are also under control.
Full impact of capacity expansion will start coming in from FY26: JSW Steel MD
Jayant Acharya of JSW Steel discusses the company's capacity expansion plans, stable pricing trends, inorganic growth opportunities, and overseas operations performance, emphasizing the focus on value-added products for business stability. Acharya says in the last quarter, 62% of sales was from value-added and specials and 61% for the year as a whole. In terms of absolute volume, it has grown substantially.
Adani Enterprises to invest Rs 80,000 crore in capex this fiscal
Adani Enterprises plans ₹80,000 crore capex, focusing on ANIL and airports. Ganga Expressway gets ₹12,000 crore. Shah mentions coal-to-PVC and data center. Debt rises 31%. ANIL includes green hydrogen, wind turbines, and large monocrystalline unit.
Central PSUs' buys from GeM rise by 36%, exceed target
India's Central Public Sector Enterprises (CPSEs) continued to bolster economic activity, exceeding the mandated procurement from Micro, Small, and Medium Enterprises (MSMEs) by 36.34% in the Financial Year 2024, surpassing the required 25%. In total, 54 CPSEs and five government departmental entities, including the Railways Board and the National Highways Authority of India, procured goods through Government e-marketplace (GeM), amounting to ₹2.62 lakh crore by March 31, 2024.
Some more consolidation likely this week; 4 top buy ideas now: Sanjiv Bhasin
Sanjiv Bhasin advises on market recovery, consumer stock investment, and potential buys such as Rattan Power, Coal India, Coforge, and Bajaj Finserv. He also highlights FII impact and Kotak Bank's analysis. Bhasin says: "We have an accumulate on Kotak Bank and we think this is a very good time as most of the negatives are priced in, the positives will be outweighed but time will have to be given over here."
Coal India's capex rises 6.5% to Rs 19,840 crore in FY24
"CIL achieved 120 per cent target satisfaction over the year's capex target of Rs 16,500 crore. For the fourth fiscal on sequence CIL's capex breached the budgeted target," the PSU said.
ONGC energises govt kitty with ₹7,224 crore dividend
ONGC's dividend contribution to the state was almost double the ₹3,636 crore dividend by Indian Oil Corporation (IOC), nearly three times Bharat Petroleum Corporation's ₹2,413 crore, close to four times GAIL's ₹1,863 crore and about ten times Oil India's ₹737 crore.These are interim dividends and a final instalment usually comes after the companies declare annual earnings.
Hot Stocks: Brokerage view on RIL, Coal India, MGL and ABB India
Brokerage house Goldman Sachs maintained a buy rating on Reliance but raised the target price to Rs 3,400 from Rs 2,925 earlier. The global investment bank sees a 17% EBITDA CAGR over FY24-27.
Hot Stocks: Brokerage view on ITC, Godrej Consumer, Coal India and L&T
JPMorgan maintains overweight rating on ITC and Godrej Consumer Products. Jefferies has a buy rating on Coal India with a target price of Rs 520, and CLSA recommends a buy on L&T with a target price of Rs 4260.
Ministry of Coal exceeds expectations with performance in FY 2023-24
According to a press release by the Ministry of Coal, through robust initiatives and strategic planning, MoC and its associated Public Sector Undertakings (PSUs) have made significant strides in capital expenditure (CAPEX), asset monetization, and procurement through Government e-Marketplace (GeM).
Ministry seeks feedback on coal gasification scheme by Mar 20
Ministry of Coal seeks feedback for coal gasification plants in India, allocating Rs 8,500 crore. Categories include PSUs, private sector, demonstration projects. National Coal Gasification Mission aims to gasify 100 million tonnes of coal by 2030. Government actively engaged in clean coal initiatives.
GMDC board approves capex of Rs 3,041 cr for FY25
State-owned Gujarat Mineral Development Corporation Ltd (GMDC) approved a capital expenditure of Rs 3,041 crore for the fiscal year 2025. The budget includes Rs 1,138 crore for new lignite projects, Rs 629 crore for operationalizing allotted coal blocks in Odisha, and Rs 462 crore for expanding and modernizing metal projects, focusing on the extraction and processing of rare earth elements.
Notified price for coal gasification soon: Coal Ministry
The Ministry of Coal is planning to offer coal at a notified price for coal gasification projects to boost the sector. This move aims to ensure that the industry does not face a shortage of coal. Coal gasification is a process that converts coal into synthesis gas, which is cleaner than coal combustion. The Union Cabinet has approved a coal and lignite gasification programme with viability gap funding worth Rs 8,500 crore for both public and private sectors.
Booster Shot! Govt's capex pill turns 13 PSU stocks multibaggers in 2023; will marathon continue next year?
On a year-to-date basis, the S&P BSE PSU index has rallied more than 50% and scaled a lifetime high of 15,531 earlier this week. Meanwhile, the benchmark Sensex has given a little over 16% returns in the same period. A significant chunk of the gains in PSU stocks came in December, with as many as 28 of them clocking double-digit gains, after the strong victory for the Bharatiya Janata Party (BJP) in the state assembly elections of Chhattisgarh, Madhya Pradesh, and Rajasthan.
Coal India capex rises 7.6% on year so far in FY24
Coal India Ltd’s capital expenditure rose by 7.6% on year in the eight months of the ongoing financial year to Rs 10,492 Crores. The target of the company for the fiscal is Rs 16,500 crore. Capex on acquisition of land and related rehabilitation followed at Rs 2,486 crore accounting for almost a quarter of the expenditure during the period.
Coal India's capex rises 7.6 per cent in April-November period
In the first eight months of the fiscal year, Coal India Ltd's capital expenditure rose by 7.6% to Rs 10,492 crore from the previous year's Rs 9,751 crore, reported in a BSE filing. The company aims to hit 80% of its Rs 16,500 crore capex target by December's end, largely focusing on strengthening coal evacuation infrastructure, with significant investments in railway sidings, coal handling plants, roads, and machinery procurement. Diversification projects and joint ventures also contributed to the expenditure.
CPSE capex up 33% by H1 of FY24, touches Rs 3.79 lakh crore
The capital expenditure by central public sector enterprises has already crossed 52% of their budget expenditure for the current financial year.
Rs 18,900 crore bet! Bharat theme grabs eyeballs as global growth in doldrums
A glimpse of this could be seen in the strong inflows in thematic/sectoral funds. Thematic/sectoral funds have garnered inflows of more than Rs 18,900 crore, so far in 2023.
Disinvestment Target: Can the government break the jinx?
In the past, the government has missed targets set for prior financial years, the most recent being the Rs 1.75 lakh crore target for FY22, which was revised downwards to Rs 78,000 crore in the revised estimates. The actual proceeds for FY22 were at a meagre Rs 14,638 crore, primarily owing to the disruptions caused by the Covid-19 pandemic.
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