Winning Strokes
#The stock of Wockhardt Ltd (Rs.229.20) tanked to Rs.227.10, post the death of the Big Bull, Rakhesh Jhunjhunwala. I had sent a Twitter message, that I had exited the scrip after it broke a specific support. I had decided to exit after I got the news from my sources that RJ was ill and was in Wheel Chair. We'll again enter Wockhardt Ltd, at the opportune time.
#Today, the stock of Adani Power Ltd (Rs.361.40) touched Rs.362.40, intraday. Keep booking profits on the way, and keep adding on market dips, putting a strict SL at Rs.347.
#I have taken fresh position in Swan Energy Ltd (Rs.203.45).
Nikhil Merchant, the Managing Director of Swan Energy is the father of Vinita Patel who is married to Naman Patel the nephew of Anil Ambani.
Further Saurabh Dalal Patel is the husband of Ila Ambani, the first cousin of Mukesh and Anil Ambani. He is the son-in-law of Ramnikbhai Ambani, the elder brother of late Dhirubhai Ambani.
He is currently a Member of Legislative Assembly in the 14th Gujarat Legislative Assembly or Gujarat Vidhan Sabha (ગુજરાત વિધાન સભા) and has served in the same capacity in the 10th, 11th, 12th and 13th Legislative Assemblies as well. In the Gujarat Legislative Assembly Elections that concluded in 2017, he contested and was directly elected from the constituency of Botad. He has given charge of finance and energy minister of gujarat. [Wikipedia].
Saurabh had held important portfolios such as finance, energy and petrochemicals, and mines and minerals in Gujarat.
One of the most influential businessmen in Modi’s India is someone you may have never heard of. Google for Nikhil V. Merchant on the internet and you would be hard pressed to find too many photographs or profile or interview or even a quote of the 50-something entrepreneur whose proximity to Narendra Modi is an open secret in the upper echelons of the Bharatiya Janata Party and its government in Delhi.
Swan Energy, is largely involved in the textile and property business. Swan is headed by Nikhil Merchant and his father-in-law, Navinbhai Dave, who acquired it from the Goenka group in 1991.
Swan Energy has also been a donor to the BJP – making small payments of Rs.2 lakh and Rs 50,000 in 2012-13 – though Merchant now denies this. “I have never ever given any political funding to the BJP,” he told The Wire in an interview.
Summary:
This means #Nikhil #Merchant has #Excellent connections with the ruling Bhartiya Janata Party (BJP) at the centre.
#Nikhil #Merchant of Swan 🦢 Energy is the Blue 🔵 eyed 👁️ boy of #Narendra #Modi. He has a clout in India Inc that he can get things done.
According to recent media reports, Swan Energy Ltd. (SEL), a conglomerate with interests in the infrastructure and oil and gas industries, recently paid Rs. 172.52 crore for a 55% stake in Veritas (India), a manufacturer of petrochemicals and petroleum products. This acquisition was made possible by the purchase of 1,47,45,720 equity shares at a price of Rs. 117 per share.
Swan Energy will conduct a mandatory open offer to purchase an additional 26% stake in Veritas (India) from the company's current public shareholders for a total of 87.83 crore at a price of 126 rupees per share.
The transaction will now be worth 260.35 crore in total. The purchase will enable Swan Energy's LNG complex to obtain gas for the second phase of its expansion by utilising Veritas (India) Limited's sectoral connect.
Polyvinyl chloride (PVC) and bitumen production are two more areas of Veritas (India) Limited's principal business. It has a terminal with a 170,000 MT capacity in Terminal Hamriyah, United Arab Emirates, in addition to its global footprint.
Veritas (India) has a net worth of 1,973.63 crore. Moreover, since Veritas (India) Limited is involved in the gas and petrochemical business and SEL is in the LNG sector, the acquisition will enhance Swan Energy's synergy in the oil and gas industry.
The company recorded $1,880.53 crore in sales for FY21. Veritas has a current capitalization of $306.04 billion.
Meanwhile, Swan Energy’s textile division that manufactures and markets cotton and polyester textile products in the country has expanded the capacity of its Ahmedabad plant to 3 million metres per month. The company wants to expand in brands and retail and penetrate in the export markets of Bangladesh, Vietnam, South Africa, Latin America, and the USA.
Talking to ET, Vivek Merchant, general manager, Swan Energy said the cost of cotton has come down and this will help Swan leverage its current export clientele by providing quality products at competitive prices and improve its market share globally. Cotton prices are set to weaken amid slackening demand and global recessionary fears.
Financials: Net Sales of Swan Energy came at at Rs.260.38 crore in June 2022 quarter, up 464.08% from Rs.46.16 crore in June 2021. Quarterly Net Loss flat at Rs.26.35 crore in June 2022 as against Rs.22.17 crore in June 2021. The EBITDA stood at Rs.7.86 crore in June 2022 quarter Vs Rs.9.78 crore in June 2021.
Swan Energy, established in Mumbai and having its roots in the textile industry, has successfully moved into the real estate and oil & gas sectors.
A 5 million metric tonne per year (MMTPA) floating storage and regasification unit-based LNG terminal has been built by the business in Jafrabad and will soon start operating commercially. Swan Energy has a market value of $7,678.67 billion.
Accumulate the shares of Swan Energy (Rs. 203.45) during market dips because the LNG terminal is anticipated to begin operations in December 2022. A 5 million metric tonne per year (mmtpa) capacity FSRU was constructed for about Rs.6,500 crore.
Swan Energy has already already entered into a regasification arrangement with Gujarat State Petroleum Corporation and Indian Oil covering the entire 5 mmtpa for 20 years.
FSRU is a vessel that helps in transferring LNG through oceanic channels. The natural gas that is transported through the sea in liquid form needs to be reconverted into the original gaseous state before being pumped out into the storage tanks, and the FSRU helps in this process.
#Both Reliance Power Ltd (Rs.13.50) and Suzlon Energy Ltd (Rs.7.65) came up with good set of June quarter numbers. Accumulate market dips.
It is now expected that RTN Power Ltd (Rs.3.85) will also do well in the bourses. Keep accumulating in all dips.
#The stock of Vodafone Idea Ltd (Rs.8.85) is going great today. The much talked about 5G Mobile Telephony is likely to be a flop show due to exorbitant price tag. Meanwhile, Vodafone is witnessing an avalanche of acquisition of 4G clients. This is a very encouraging sign.
#My recommend B F Utilities Ltd (Rs.398), made a high of Rs.404.90. Book some profits and hold the rest with a SL at Rs.387.
#My recommended 3i Infotech Ltd (Rs.40.80) had also come up with reasonably good set of June, 2022 quarter numbers. The stock could spurt anytime soon. Keep watch.
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