Winning Strokes The BSE Sensex closed yesterday at 52,653.07 up 209.36 points (+0.40%) while the Nifty ended the day at 15,778.45 up 69.05(+0.44%). However, Ganpati Festival in Mumbai is within arms length and hence Nifty might correct to 15350, before taking an upmove from the middle of September, 2021. This year Ganesh Chaturthi, also known as 'Vinayak Chaturthi' or 'Vinayaka Chavithi' will commence from Friday, September 10, 2021. #Yesterday, the shares of Patel Engineering Ltd (Rs.15.45) corrected below the conversion price of Rs.15.78. This happened, after I mentioned this price on my blog, which might have rattled some of the retail investors leading to a sharp correction in the counter. However, the company has done OTS with lenders and therefore in the following quarters we might see a gradual improvement in its bottomline too. The company has a whopping order book position of Rs.14, 000 crore and now with the OTS with lenders, the pressure on working capital w...
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Patel Engineering Ltd (Rs.16.25): Updates Patel Engineering Ltd is a multi-disciplinary construction and engineering group, with expertise in three major sectors: Real Estate,, Infrastructure and Asset Ownership. Let us see who are holding the shares of the company? # Bank of Baroda ( 4.29%). # PTC India Ltd (3.19%) # ICICI Bank Ltd (1.59%). # Axis Bank Limited ( 1.54%). # Bank of India (1.47%). # Canara Bank (4.16). # Bank of Maharashtra (1.27%). # Insurance Companies (0.49%). Moreover, in Q4FY21, Patel Engineering allotted 3,54,36,562 shares (face value Re.1) at a price of Rs.14.78 per share (i.e. price for conversion of debt into equity) to PTC India Ltd & IDBI Bank Ltd against OTS Framework/Debt Settlement Agreement executed respectively with these Lenders. This means Rs.14.78, remains the lower end of the share price. Photo : NiceLocal The order book position of Patel Engineering Ltd is huge ~Rs.14000 crore. Also, if you look at the March, ...
Den Networks Ltd: Result Analysis and Future Price Targets Den Networks Ltd came out with flat set of numbers for the June, 2021 quarter. The total income of the company came as Rs. 322.23 Cr in Q1FY22 Vs Rs.331.87 Q1FY21. The net profit of the company came as Rs.43.35 Vs Rs.66.16 crore in Q1FY21. Photo : The News Glory. However, interestingly according to BSE Website data, the CEPS for the June, 2021 quarter came as Rs. 1.39, while FY21, CEPS was Rs.8.49. Also, the OPM of 23.54% and NPM of 15.01% during the highly lethal 2nd wave of Covid - 19 driven June quarter, shows the resilience of the company to withstand sudden shock waves and proves that it indeed belongs to Mukhesh Ambani group. The Company has investments of Rs.4,853.86 million (net of provision for impairment of Rs.192.21 million) in subsidiary companies and associate companies as on 30th June, 2021. Of these, net worth of investments with carrying value of Rs.2,679.98 million (net of provision for I...
Winning Strokes When this report is being prepared the BSE Sensex was seen trading at 53,152.33 up 12.41 points (+0.02%), while the Nifty50 was seen at 15,924.00 up 6.30 points (+0.04%). The Nifty has reached my target of 15900 and hence we could expect a bit bull - softening in the bourses. Photo : The Times of India. #Smallcap scrips are seen outperforming the frontline indices and investors have shown an increasing appetite to invest in them as their prices soared. However it is pertinent to mention here that the rally in small cap stocks is a global phenomenon not restricted to Indian market with S&P 2000 index turning out to outperform the blue-chip Dow Jones Industrial Average (DJIA), S&P 500 and tech-heavy NASDAQ composite in 2021. #The stock of Reliance Capital Ltd (Rs.20.35) is likely to do very well in the bourses, due to lot of positive developments as mentioned below. #Reliance Nippon Life Insurance Company is amongst the leading private secto...
Winning Strokes Yesterday, the BSE Sensex closed at 52,769.73 up 397.04 points (+0.76%), while the Nifty ended the day at 15,812.35 up 119.75 points (+0.76%). The Nifty is likely to test 15900 on the upside. #The stock of BCPL Railway Infrastructure Ltd yesterday moved to Rs.62.40 while settling at 59.95 EOD. You need to hold with a SL at Rs.56. The infrastructure stocks are likely to do well in Future. #The scrip of Future Retail Ltd yesterday moved to Rs.67.40 before closing at Rs.65.10. This is a sure shot play, what is needed is patience. The company now has presence in both offline and online segments. #The stock of Reliance Capital Ltd could test Rs.19 on the downside before starting its next leg of upmove. This is also a sure shot play. #The stock of Patel Engineering Ltd yesterday moved to Rs. 19.75, after the positive media report came on loan recast. I have a long term target of Rs.100. #Today buy the shares of JSW Steel ...
Winning Strokes The BSE Sensex closed flat today at 52,372.69 down 13.50 points (-0.03%) while the Nifry50 ended the day at 15,692.60 up 2.80 points (+0.02%). The indices are likely to consolidate around the current ranges, while the action will be shifted to small and mid cap counters. #As expected the scrip of Future Retail Ltd (Rs.66.60) hit the upper circuits today. The stock according to my estimation, should cross Rs.100 by this Deepawali. Keep accumulating in dips. #Those who have a portfolio size of Rs.3 lakhs plus, can join my #Crorepati #Scheme , where you would be systematically guided, so that your portfolio reaches Rs.1 (One) crore mark. You can also join my premium service or trade through my associated brokerage house and get my premium information service free of charge. #The stock of Reliance Capital Ltd (Rs.21.25) could hit the upper circuit tomorrow. On 5 July, 2021, there were media reports that the private life insur...
Winning Strokes First of all let me begin by saying due to paucity of time, I'm not able to update my blog on regular basis. However, today I made my mind to put fresh inputs for my ardent followers and regular blog readers. The BSE Sensex closed at 52,386.19 down 182.75 points (-0.35%), while the Nifty ended the day at 15,689.80 down 38.10 (-0.24%) points. The consolidation is likely to continue in this coming week, with the marketing keeping a watch on the new (Delta) variant of Covid-19, macroeconomic data and the progress of monsoon. Photo: Ratefinanceinstitute.com. However, stock specific action could continue, as the earning season kicks off with around 75 companies set to announce their June quarter numbers in this week. These include Infosys, Wipro, Mindtree, HDFC Asset Management Company and Larsen & Toubro Infotech. The market is still buy on dips as long as Nifty holds 15,500/15,000. Buy beaten down companies with good fundamentals. # Den Networks Ltd (Rs.56.2...