Defence Stocks Rally: Nifty India Defence index jumps over 3%; MTAR Technologies surges 34% from last week's low

AirSewa 2.0: Upgraded version of AirSewa to be launched in the next 90 days, says aviation secretary

India's defence output soars 16% to record Rs 1.78 lakh crore in FY26, over 2x production since FY21 

RBI REITs and InvITs rules: Expert explains risks, returns and what investors should track

El Nino 2026: Which stocks and sectors could win or lose if rainfall falls short?

Tata Capital gains after board approves up to Rs 36,000 crore NCD issuance

Maruti Suzuki begins flex-fuel WagonR deliveries

Block Deal Buzz: DOMS Industries trade volatile as promoter FILA likely sells 7.3% stake worth nearly Rs 981 crore

Trent surges over 5%; here's why analysts believe the rally may not be over yet

Lodha, Oberoi, other realty shares under pressure; what's weighing on Mumbai-focused players?

Stocks from the refractory industry space are seeing a lot of traction these days. Within&nbsp; the sector some of the leading names include, Vesuvius India, RHI Magnesita, Orient Ceratech and IFGL Refractory among others. Of the universe, Vesuvius India is leading in terms of market capitalisation.

<h2>India's Advantage: Rising Domestic &amp; Export Opportunity</h2>

India, the second-largest steel producer globally, is witnessing a sharp rise in demand for refractories, aided by: - Massive capex in steel, cement, and non-ferrous sectors, driven by both private and public investments. - Government's continued thrust on infrastructure under PM Gati Shakti, leading to greater refractory consumption in roads, rail, and construction sectors.

China+1 supply diversification, boosting export opportunities for Indian refractory players.

So, here are the stocks from the space together with their performance and outlook.

Rising capex in the steel and cement sector will favour the refractory industry in India as per experts.


Refractory industry stocks - a good play on industrial capex and global supply realignment

Dhampur Sugar Mills, in lieu of its recently opened share buyback, has come up with a clarification saying that the intimation of acceptance as well as rejection of equity shares tendered in the share buyback has been dispatched electronically by&nbsp;Registrar to the Buyback i.e. Alankit Assignments Limited to the eligible Equity Shareholders today i.e. June 11, 2025.&nbsp;

"The settlement of all valid bids was completed by the Indian Clearing Corporation Limited and the National Securities Clearing Corporation Limited (collectively, “Clearing Corporations”) as applicable, on June 10, 2025. The Clearing Corporations have made direct funds pay out to Eligible Shareholders whose Equity Shares have been accepted under the Buyback." said the company's exchange filing.

If any Eligible Shareholders' bank account details were not available or if the funds transfer instruction was rejected by Reserve Bank of India or respective bank, due to any reason, then such funds were transferred to the concerned Stockbrokers’ settlement bank account for onward transfer to such Eligible Shareholders, it added.

Now as some of the investors' shares must have been accepted in the buyback and they would have gained some amount on their investments, here is a quick take on whether or not should investors park their buyback money in sugar stocks.

<h2>Should investors re-invest buyback money from Dhampur Sugar in sugar stocks?</h2>

Importantly and notably, &nbsp;the overall acceptance ratio in a buyback can differ from the buyback acceptance for small investors. Looking at one of the investor's intimation on the share buyback, the acceptance ratio came to be 21 per cent as out of the total 296 equity shares tendered only 63 got accepted.

So, given the gains on the tendered shares,&nbsp;Sourav Choudhary, Managing Director, Raghunath Capital, AIF Category III Fund suggest taking bet on the sector again but on stocks that have the potential to capture value across&nbsp;both food and fuel use cases.

The expert noted,&nbsp;“Dhampur Sugar’s buyback is a timely value unlocking opportunity, and we view it as a tactical move for investors to benefit from near-term capital return while staying positioned for the broader sugar sector upcycle. With global supply tightening from major producers like Brazil and Thailand, and strong domestic demand driven by ethanol blending targets, the outlook for Indian sugar companies remains constructive."

Post buyback, we see merit in reallocating capital to well-managed names such as Balrampur Chini, EID Parry, and DCM Shriram, which are well-placed to capture value across both food and fuel use cases. The sector is entering a structurally favorable phase, and selective exposure can deliver strong medium-term returns, he added.

&nbsp;

&nbsp;

Re-allocation of the profits from the sugar company's buyback into other sugar stocks will&nbsp;be a strategic play betting on&nbsp;the broader sugar sector upcycle.&nbsp;


Should investors re-invest buyback money from Dhampur Sugar in sugar stocks?

Prime Minister Narendra Modi has completed 11 years in office and Indian capital markets during this time have seen a phenomenal rally. The blue-chip&nbsp;Nifty index has seen an unprecedented leap, delivering a mind-boggling 241 per cent return in just over a decade. Likewise, on the remarkable gains, the overall market capitalisation has zoomed by 442 per cent.&nbsp;G Chokkalingam, Founder of Equninomics, pointed out that in compounding terms, this is higher than historical averages.

<h2>Triggers powering Nifty's spectacular 241% rally on in 11 years&nbsp;</h2>

The analyst attributed such robust gains primarily to two factors:&nbsp;

<ul>
	<li>Political stability: The analysts went on to say that before 2014 there was a lot of political instability at the Union Government or central government level.</li>
	<li>Improving macros: At the macroeconomic level, India is moving ahead at a rapid pace with gross domestic product (GDP) growth at between 6 per cent 7 per cent, i.e. the fastest growth in comparison to other major economies globally.</li>
</ul>

The Centre has been focusing on fiscal prudence which has led to a consistent improvement in the country's fiscal deficit situation, better and consistenly improving&nbsp;GST collections, and&nbsp;forex reserves scaling fresh highs. These are some of the key indicators of India's strong macros.

<h2>Agriculture and Banking - 2 major pillars of Indian economy grew unprecedentedly</h2>

In addition, the country's core agricultural sector has been doing extremely well -with record food grain production - for 2-3 years in a row.

Besides, banking sector - which is another integral pillar of the country's economy grew and advanced substantially- logging good and record improvement on the asset quality front especially in the case of public sector banks.

Chokkalingam noted that in PSU Banks, the gross non-performing&nbsp;assets (GNPA) used to be 15-16 per cent of the total advances and now it has come down to 3 per cent for most banks.

Similarly net NPA which used to be 7-8 per cent has on an average come down to 0.5-0.6 per cent for public sector banks or PSBs.

Alongside, credit growth has been robust in double-digits.

India's robust macros together with political stability have enable India's capital market to scale this feat.


PM Modi's 11 Years in Office: Nifty's spectacular 241% dream run—from  7,359 to 25,100—decoded 

Textile stocks in Monday's trade rallied with some of the stocks from the pack making sizable gains of up to 20 per cent. Stocks like Parmeshwari Silk Mills, Donear Industries, Advance Lifestyles, Samtex Fashions stood out as the top perfomers on May 19, 2025.

<h2>What's fuelling gains in textile stocks on May 19, 2025?</h2>

As per reports India's ban on Bangladeshi imports via the land ports could result in an additional business of over Rs 1,000 crore for the domestic textile as per experts.

According to an ANI report, India has imposed fresh&nbsp;restrictions on imports from Bangladesh via land ports, affecting goods amounting to USD 770 million. This amounts to nearly 42 per cent of total bilateral imports, according to the Global Trade Research Initiative (GTRI).

The restriction in this regard came from the&nbsp;Union Ministry of Commerce and Industry&nbsp;on Saturday following directions from the Directorate General of Foreign Trade (DGFT).

The move will&nbsp;restrict the import of some of the Bangladeshi goods, including readymade garments etc. to specific sea ports or bans them completely from make an India entry via land routes.

So, as now Bangladeshi garments can only enter into via some of the seaports, it will drastically impact their export to India.

<h2>Textile stocks</h2>

As per the stock research platform - Finology- there are 218 stocks listed in the space, and of them Vardhman Textiles lead with a TTM profit of Rs 879 crore.&nbsp;

<h2>Anil Singhvi view on textile stocks</h2>

The expert held that the time has come that the centre supports Indian textile industry and also curbs competition from Bangladesh. The market guru deems the step as a right move in pushing the industry to new heights.

<h2>2 textile stocks to buy based on technicals</h2>

Kunal Kamble, Sr. Technical Research Analyst at Bonanza is bullish on Vardhman Textiles: The expert mentions that the stock has given a breakout from a Flag and Pole pattern, indicating a continuation of the ongoing uptrend. The stock is trading above its 21-day and 50-day EMAs, reinforcing the bullish stance. A noticeable increase in volume during the breakout suggests strong buying interest.

Momentum indicators further support the bullish outlook. The RSI is trading in the higher range, signaling continued upward momentum. The DI+ is positioned above the DI-, indicating bullish dominance, while the ADX trading above the DI- reflects strength in the ongoing trend.

As long as the stock sustains above the ₹499 level, it remains well positioned to move towards the ₹560–₹590 zone in the near term.

Trident is another stock pick by Kamble. He notes that the stock has given a breakout from a Cup and Handle pattern as well as a falling trendline, indicating growing buyer dominance. The price has managed to sustain above the 21-day and 50-day EMAs, highlighting a bullish undertone in the stock. 
The RSI is trading in the higher zone, reflecting strong bullish momentum. Furthermore, the DI+ is trading above DI-, confirming the uptrend, while the ADX crossing above DI- signals strength in the ongoing move.

As long as the stock holds above ₹29.20, it has the potential to move upwards towards the ₹32–₹36 zone

&nbsp;

Anil Singhvi on textile stocks said that the industry should get the centre's backing in scaling new highs.


Parmeshwari Silk Mills, Donear Industries and other textile stocks soar up to 20%: What's fuelling gains?

FIIs or foreign institutional buying triggers a positive sentiment even for retail buyers as it shows their confidence in the stock. The other reasons why FII buying is intergral:

Stocks where FIIs added stake consistently: Such stocks give a positive picture when it comes to the outlook for the stock give continued FII interest.


Voltas, Indus Towers, Ami Organics among 15 stocks saw FII buying stake for the past 5 quarters

Largecap funds allocate the highest portion of the funds in domestic equities, of which maximum is deployed in the large cap stocks that offer stability to an investors portfolio. Such funds are typically suited for Investors who are looking to invest money for at least 3-4 years and looking for high returns.&nbsp;

So, here&nbsp;are listed some 7 largecap funds that have offered the highest SIP returns in 10 years.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

 
&nbsp;

In the current market landscape, when broader markets carry high valuations, experts have been advocating putting corpus primarily in largecap quality stocks and this can provide a boost to largecap fund category going ahead.


Rs 10,000 monthly SIP in these top 7 large-cap funds is worth up to Rs 32.62 lakh now: Check details

Indian equities despite positive global cues ended on a subdued note in Tuesday’s session. At the close, Nifty ended marginally higher at 22,529.05, up 27.05 points or 0.12 per cent, while Sensex ended weak by 0.07 per cent at 73,953.31. Meanwhile, broader markets continued their run and outperformed their headline peers.

Here are some stocks that remained in focus today:

&nbsp;

Indian equity benchmarks despite positive global sentiment ended on a subdued note. Meanwhile, the Nifty Midcap 100 after logging a fresh high ended higher.


D-Street Newsmakers: Hindustan Zinc, Data Patterns, IRFC among stocks that hogged limelight

The Nifty Metal index in Tuesday’s session (May 21, 2024) emerged as the outlier even as the headline indices ended on a mixed note despite positive global markets. The index on a 1-month basis has climbed 7.85 per cent, sharply outperforming the headline index Nifty 50 which has delivered as much as 1.6 per cent return during the period.&nbsp;

Of the 15 constituents within the index, all but 4 stocks, including Ratnamani Metals, Jindal Stainless, NALCO and Welspun Corp, ended in the green.

Hindustan Zinc and its parent entity Vedanta registered the most gains of up to 20 per cent. At the close, shares of Hindustan Zinc were locked in the 20 per cent upper circuit at Rs 742.55, which is also the stock’s all-time high price.&nbsp;

Much of the spurt in Hindustan Zinc has come off as zinc prices have reportedly climbed 3.13 per cent in the previous day’s trade, led by recent stimulus measures in China to boost future demand in the construction space. Importantly, given the current turmoil in the country's property market, zinc which is an essential commodity has been facing the wrath.

Other notable gainers from the pack included stocks such as JSPL, Hindalco, Tata Steel, JSW Steel, Hindustan Copper, APL Apollo Tubes, SAIL, Adani Enterprises and NMDC which gained between 1-5 per cent.

Measures by China to stabilize the real estate market lifted the price of metals. Rise in Industrial output in April, which was above forecast. All such factors supported the metal price and attracted investors toward metal stocks, said Vaibhav Vidwani- Research Analyst, Bonanza Portfolio.

After the most recent data revealed that house prices had fallen by about 10% since the year's beginning, China unveiled an array of new policies on Friday to boost its weakening real estate sector. The central bank announced plans to lower the minimum down payment required for mortgages and remove the floor on interest rates for both primary and secondary homes, the analyst added.

<h2>How do technicals look for Nifty Metal index?</h2>

The metal index has knocked a new historic peak, surging over 20 percent so far this month.&nbsp; The underlying trend remains highly optimistic, with a healthy correction eyeing accumulation, notes Avdhut Bagkar, Derivatives and Technical Analyst, Stoxbox.

The overall trend is to gauge higher levels, unless the support 9250 is shattered. The trend is headed to 10100-11250 levels, he added.&nbsp; Despite the strength oscillator, Relative Strength Index setting foot in the overbought category, the selling pressure is not letting metal stocks to hit any weakness, as per the daily chart.&nbsp; The broader outlook emphasises on “Higher High, Higher Low” formation, which appears to scale further uncharted territories in the following months, he says.

Of the 15 constituents within the Nifty Metal index, all but 4 stocks, including Ratnamani Metals, Jindal Stainless, NALCO and Welspun Corp, ended in the green with gains up to a sharp 20 per cent.


Nifty Metal index outperforms Nifty 50 in 1-month; gains 8%

Aditya Birla Group’s flagship firm Grasim Industries is scheduled to report its Q4 earnings and final dividend on Wednesday (May 22, 2024). Zee Business research desk estimates the cement manufacturer to report a standalone profit after tax (PAT) at Rs 160 crore for the period under review, up 70.2 per cent year-on-year (YoY). In the year-ago period, the Mumbai-headquartered company posted PAT at Rs 94 crore.

Revenue from operations at the company are expected to fall 3.5 per cent on-year from Rs 6,646 crore in Q4FY23 to Rs 6,410 crore in Q4FY24. EBITDA, a profitability metric, is seen to grow by 19.7 per cent on a YoY basis to Rs 510 crore in the reporting quarter as against Rs 426 crore during the same period last year. Margins at the company are seen inching higher to 7.9 per cent versus 6.4 per cent logged in Q4FY23, a substantial 150 basis points increase.

<h2>Grasim Industries VSF and Chemical segment performance&nbsp; Q4 preview</h2>

The company’s VSF or Viscose Staple Fibre segment is expected to log a YoY decline in volume by as much as 1.2 per cent during the quarter-ended March, resulting in a decline in revenue for the segment by 1 per cent on-year. Nevertheless, EBITDA for the segment is seen to see a significant 166 per cent YoY gain.

In the chemical segment, the company is estimated to post 8.3 per cent YoY increase in volume during the period under review. However, the company’s revenue as well as EBITDA is projected to decline by 15 per cent and 19 per cent, respectively, on-year.

<h2>Grasim Industries foray in the paints business</h2>

Earlier in February this year, the company ventured into the paints business by launching its&nbsp; paint brand Birla Opus. Furthermore, to have a quick pie of market share, the company’s products were being offered at a 5-6 per cent discount in comparison to the market leader-Asian Paints.

<h2>Grasim Industries share price performance</h2>

The stock over the last one year has gained 42.8 per cent, outperforming the Nifty 50 index which has rallied nearly 24 per cent during the period. Ahead of its results tomorrow, the stock traded marginally higher at Rs 2,441.25, a barely 4 per cent gap from the stock’s all-time high price of Rs 2,535.1, scaled last week.

Grasim Industries, the Nifty 50 constituent company, is slated to report its Q4 earnings on Wednesday. The company's margins during the reporting period are seen to log 150 bps improvement YoY.


Aditya Birla Group's flagship firm to report Q4 results; here's what to expect

As gold's appeal has got a boost amid heightened global uncertainty, investors taking note of its improved future outlook are looking to bet on the asset class for decent gains and stability in their investment portfolio.


Looking to invest in gold mutual funds: From factors to top gold funds here’s all you need to know

History suggests that markets tend to become volatile before general election outcomes. In fact, during the previous three general elections, the volatility index (VIX) experienced sharp spikes leading up to the elections.&nbsp;

“However, we believe that uncertainty does not end with general election outcome; it begins there. As the market processes the general election results, uncertainty around budget will emerge. Following this, the build-up to the US presidential election is expected toincrease volatility in global equities.&nbsp; Amidst all of this, the US interest rate cycle and global geopolitical challenges will also contribute to a fair amount of volatility in equities in the near term,” says Sorbh Gupta, Senior Fund Manager – Equities, Bajaj Finserv AMC, in an exclusive e-mail interview with Zee Business' Roshni Agarwal.

Sorbh Gupta is a Senior Fund Manager managing the equity portfolio. He has around 17 years of experience in the Indian Equity Markets across Fund Management, Equity Research &amp; Asset Allocation. He has successfully managed the only India-dedicated equity mandates for some of the world’s largest institutions as well as the retail equity schemes of domestic mutual fund. Prior to joining Bajaj Finserv Asset Management, Sorbh was associated with Quantum Asset Management. He is a qualified Chartered Accountant &amp; also a charter holder of the CFA Institute, USA.

<h2>Edited excerpts:</h2>

&nbsp;Q1. How is your Multi Asset allocation fund offering the dividend yield benefit different from other funds in the category? Will the fund pay-out dividend on a regular basis, if not, how is it lucrative when compared to similar funds?

Our investment strategy involves an equity allocation of 65-70%. The equity investments will focus on companies with high dividend yields and visible cash flow growth, as we believe dividend yield as a category is under appreciated. In fact, the Nifty dividend yield 50 TRI has outperformed Nifty 50 TRI over the long term(Source: Ellara Securities, MFIE Explorer and Internal Data Sources as on 31st March 2024). Additionally, this strategy offers significant tax efficiency. While individual equity investors face maximum marginal tax rates on dividends, mutual funds are not taxed on the dividends received from their investee companies. Instead, taxation for mutual fund investors occurs upon the redemption of units, treated as capital gains. This approach emphasizes the benefits of a higher equity allocation, investing in high dividend yield companies, and leveraging the tax efficiencies provided by mutual funds.

Q2 According to you, who should opt for multi asset allocation funds and why?

Investors seeking a balanced investment approach with lower volatility compared to pure equity funds, along with the resilience to perform across various market conditions, may find multi-asset allocation funds to be ansuitable option. These funds offer the benefits of professional asset allocation, where experienced fund managers actively adjust the portfolio's mix of assets based on market dynamics and investment objectives. By diversifying across multiple asset classes, including equities, bonds, and sometimes alternative assets, multi-asset funds aim to mitigate risk while seeking reasonable returns over the long term. This approach provides investors with a level of stability and consistency, as well as the potential for growth, making it suitable for those who prioritize both capital preservation and growth potential in their investment strategy.

Q3. As we are through the Phase 4 of Lok Sabha elections 2024 and there is a lot of nervousness amid low voter turnout, how do you sense the markets to perform in the near term and post-election outcome due on June 4?

History suggests that markets tend to become volatile before general elections outcomes. In fact,during the previous three general elections, the volatility index (VIX) experienced sharp spikes leading up to the elections. However, we believe that uncertainty does not end with general election outcome; it begins there. As the market processes the general election results, uncertainty around budget will emerge. Following this, the build-up to the US presidential election is expected toincrease volatility in global equities.&nbsp; Amidst all of this, the US interest rate cycle and global geopolitical challenges will also contribute to a fair amount of volatility in equities in the near term.

Q4. Sectorally, there has been a sharp run-up across sectors, including energy, realty and PSU among others. Going ahead, which sector/s are you upbeat on and on what premise? Likewise, which sector/s do you see underperforming over the course of time? 
&nbsp; 
PSUs have played out well over the last 12-18 months, with some businesses poised to benefit from the government’s focus on ‘Make in India’ and the push for capital expenditure. While the order books are swelling, investors need to be cautious about a few factors.&nbsp; These are government-owned, and their primary customer is also the government. Often these businesses face extended working capital cycles or sudden changes in profitability depending on the government’s financial situation.&nbsp; Some of these companies are in the frothy zone and ignoring the risks. Investors should choose these stocks carefully, specially at these levels. 
&nbsp; 
We believe energy &amp; realty sector will continue to see earnings upgrades and remain positive on these sectors.

Instead of focusing on sectors, we believe a long-term equity investor’s portfoli include constituents that benefit from the ‘megatrends’ ocurring around us. These megatrends encompass changes in Technology, Regulatory, Economic, Nature, Demography and Social. Each of these trends has the potential to transform the business environment and the world around us.&nbsp; Endeavour of the investors should be to bet on businesses that benefit from these megatrends. Instead of looking for sectoral funds,investors would be better off considering diversified&nbsp;equity funds that are betting on multiple megatrends.

Q5 Has the froth in terms of valuation in the broader markets settled and to what extent retail investors need to be cautious even now?

Corporate India is amidst a strong earnings upgrade cycle driven by public and private capex, a strong corporate balance sheet, a well-capitalised banking system and an upcycle in residential real estate. This is further supported by a positive global macro set up. We think this positivity will continue, however, volatility too will increase for the reasons mentioned in the previous responses.

Retail investors entering the equity markets should have a long-term orientation which is a prerequisite.&nbsp; Investors focusing on short-term gains should be more cautious in this environment. If an investor is worried about the binary outcome of general election, a three-month STP is&nbsp; also a good option. More risk-averse investors can start their investment journey by investing in a well-managed multi-asset strategy. 
&nbsp; 
&nbsp; 
&nbsp;

&nbsp;

Corporate India is amidst a strong earnings upgrade cycle driven by public and private capex, a strong corporate balance sheet, a well-capitalised banking system and an upcycle in residential real estate


Uncertainty does not end with general election outcome; it begins there: Bajaj Finserv AMC’s Sorbh Gupta

IRFC share price, IRFC Q4 results: Shares of state-run Indian Railways Finance Corporation (IRFC) in Tuesday’s morning deals have zoomed as much as 4.5 per cent to day’s high price of Rs 181 per share on the BSE. The spurt in the stock comes following the company’s announcement of its Q4 earnings and dividend on the previous day.

Post today’s spike, the stock is just 6.5 per cent away from its 52-week high price of Rs 192.8 per share.

For the March quarter, the company reported a 34 per cent increase in its profit to Rs 1,717.3 crore on account of higher income. It had clocked a profit of Rs 1,285.2 crore during the fourth quarter of the last fiscal, the state-owned company said in a regulatory filing.

The company's total income rose to Rs 6,477.9 crore in the January-March quarter. During the period under review, its expenses stood at Rs 4,760.6 crore as against Rs 4,945 crore a year ago.

<h2>IRFC’s dividend for FY24</h2>

Alongside, the company’s board approved a final dividend to the tune of 70 paise per share for the financial year 2024. Earlier before, the company announced an interim dividend of 80 paise for which the stock turned ex-dividend on November 10 last year.

The final dividend for the financial year 2023-24 of Rs 0.7 per share, if declared at the ensuing AGM, will be paid to the shareholders within 30 days from the date of the AGM, said the company’s stock exchange filing.

As per the Trendlyne data since February 17, 2021, the company has declared a total of six dividends (with the latest one not being included).&nbsp;

Since the Government of India holds the largest&nbsp; majority stake in the state-run financier to the tune of 86.36 per cent, based on the number of outstanding shares it will fetch a handsome dividend pay-out of Rs 790 crore.

<h2>IRFC’s market borrowing programme for FY25</h2>

The board of directors also approved the raising of resources for the financial year 2024-25 up to Rs 50,000 crore from both domestic and international markets. It will be raised "through a prudent mix of tax-free bonds, taxable bonds on private placement or public issue basis", including capital gain bonds, government-guaranteed bonds, and government serviced bonds.

<h2>IRFC's share price performance</h2>

The railway stock has given a stupendous return of 431 per cent in the last one year, while its 1-month return is over 26 per cent.

Shares of IRFC rallied over 4 per cent in Tuesday's trade following the company's announcement of quarterly results and dividend. The state-run financier has also approved a market borrowing programme for FY25.


Shares of this state-run financier are just 7% away from 52-week high after today’s upmove 

Shares of the multibagger smallcap aerospace and defence major Data Patterns (India) marked their fresh all-time high in Tuesday’s session (May 21, 2024) after global brokerage Jefferies continued with its ‘buy’ rating on the counter post its Q4FY24 results.

Nevertheless, the counter quickly pared its early gains and fell up to 4.6 per cent to hit day’s low price of Rs 3166.80 per share. The stock’s fresh record high scaled earlier in the session is Rs 3,444 apiece on the BSE.

After marking a fresh record high of Rs 3,444 apiece on the BSE in early trade, the scrip traded with a cut of 1.8 per cent at Rs 3,260.85.

The brokerage has raised the target on the counter to Rs 4,135 from the earlier Rs 3,545, suggesting a possible run-up of nearly 25 per cent.

Jefferies maintained that the company’s fourth-quarter EBITDA remained largely in-line as higher margins offset lower revenue growth. Furthermore, the company’s investor presentation guides for 25 per cent plus revenue growth over the next two-three years, with margins being maintained at around 40 per cent (FY24 42.6 per cent vs 37.9% YoY).

In the earnings press release, the company noted that it secured orders worth over Rs 670 crore during the previous fiscal year. In addition its order book as on March 31, 2024 stood at Rs 1083.01 crore.

Furthermore, the&nbsp; consensus recommendation from 7 analysts for Data Patterns (India)&nbsp; is ‘buy’, shows Trendlyne -the stock research platform data. However, the 1-year price target of Rs 2,576 suggests a downside of 19 per cent.

<h2>Data Patterns (India) Q4 results</h2>

During the January-March period of the previous FY24, the company’s PAT climbed 40 per cent quarter-on-quarter to Rs 71 crore as against Rs 51 crore in the quarter ended December. Revenue from operations increased by 31 per cent in the reporting quarter&nbsp; to Rs 182 crore in comparison to Rs 140 crore&nbsp; in Q3 of FY24. EBITDA also logged a healthy growth of 55 per cent to Rs 93 crore.&nbsp;

<h2>Data Patterns share price performance</h2>

The company’s shares over the last year have climbed 99.6 per cent, while its 1-month return is over 14 per cent. Data Patterns (India)&nbsp; is a vertically integrated defence and aerospace electronics solutions provider. The company manufactures electronic boards and systems.

&nbsp;

Multibagger defence stock Data Patterns (India) has been accorded a 'buy' rating by Jefferies with a raised target suggesting nearly 25 per cent potential upside.


Multibagger defence stock falls 5% after hitting all-time high today; should you buy it?

HAL share price, Hindustan Aeronautics Limited share price: Shares of HAL in Saturday’s session have marked a fresh all-time high of Rs 4752 apiece on the BSE, after hitting back-to-back fresh 52-week highs&nbsp;since May 14. The stock's record high hit on the NSE is Rs 4755 per share. Given the continued run-up, the stock has climbed a sharp over 21 per cent in five sessions.

Today's surge in the stock is fuelled after global brokerage Jefferies has continued with its 'buy' rating on the counter and has raised the target price to Rs 5,725 from Rs 3,900 earlier. The new set target implies an upside potential of over 26 per cent.

In the previous trade, the stock retreated lower and settled at Rs 4531.4, down 1.6 per cent.

Following the company's Q4 earnings released on Thursday, Morgan Stanely maintained&nbsp;an ‘overweight’ view on the counter and gave a target of Rs 3,636, a significant downside from current levels. The brokerage noted that the company’s earnings beat is led by a strong margin, with Q4 adjusted EBITDA margin at 32.8 per cent, up 676 bps on-year. Furthermore, the company’s order backlog reported at Rs 94,000 crore, translates to 3.3x TTM sales.

Meanwhile, another foreign brokerage Nomura continues with its ‘buy’ on HAL and a target of Rs 4,750, implying a potential run-up of just over 3 per cent.

<h2>HAL Q4FY24 results</h2>

For the reporting quarter, the company logged a 52 per cent increase in consolidated profit after tax (PAT) at Rs 4308.71 crore. In the same quarter last year, HAL's PAT was recorded at Rs 2831.19 crore.&nbsp;The company posted an 18 per cent growth on a year-on-year (YoY) basis in its consolidated revenue to Rs 14,768.7 crore. The same was at Rs 12494.67 crore in Q4FY23. According to Zee Business research, the defense company was estimated to register a net profit of Rs 2,872 crore and revenue of Rs 14,137 crore for the fourth and final quarter of the last financial year.

HAL delivered an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) margin of 40 per cent for the March quarter of FY24. The company had delivered an EBITDA margin of 26 per cent during the same quarter last year. It recorded Q4FY24 EBITDA at Rs 5,901.1 crore.

<h2>HAL's share price performance</h2>

Over the past year, shares of the defence major have climbed 202 per cent, while its 1-month return is at 27.1 per cent.

&nbsp;

Shares of Hindustan Aeronautics continued their winning streak for the fifth consecutive day and marked a fresh record high on the stock exchanges.


This PSU stock clocks over 21% gains in 5 days; can it rally more?

Shares of the MNC company Nestle India gained traction during Saturday’s special trading session as the Street cheered shareholders' disapproval of the royalty fee hike to the company’s Swiss parent Nestle.&nbsp;

At day's high shares of the company scaled to Rs 2518.75 per share on the NSE, gaining 3 per cent over the previous close.&nbsp;

The resolution considered for voting was for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, in contrast to the current 4.5 per cent. The increase was proposed at a rate of 0.15% per annum.

57 per cent of the company’s shareholders voted against raising royalty fee, said the company in its exchange filing on Friday. Furthermore, the filing showed that about 70.8 per cent of public shareholders (public institutions) voted against the increase.

“Under Indian regulations, the potential change would be classified as a related party transaction, which means that controlling shareholders were not allowed to vote,” said the Reuters report.

<h2>What was the royalty fee hike proposal?</h2>

On April 5, the company approved the increase in royalty payment to the parent company-Nestlé S.A. at the rate not exceeding 5.25 per cent, net of taxes, of the net sales, payable in a staggered manner over the period of five years by making an increase of 0.15% per annum over the current license fees of 4.5% per annum. The new royalty fee will be effective from July 1, 2024.

<h2>Nestle India January-March quarter results</h2>

For the reporting quarter, the consumer products company posted a nearly 27 per cent on-year increase in consolidated net profit at Rs 934.2 crore.&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

At day's high shares of the FMCG major Nestle India&nbsp;scaled to Rs 2518.75 per share as the company's shareholders voted against raising royalty fee.


Roshni Agarwal