Today's Call 

#Buy the shares of 63 Moons Technology Ltd (erstwhile Financial Technical Ltd) near the CMP of Rs.350, SL: Rs.342, T: Rs.421. 

63 Moons Group is radically transforming from a traditional fintech company to a leading-edge technological enterprise. This evolution focuses on emerging technologies, including blockchain, digital assets, cybersecurity, artificial intelligence (AI) and legal tech. 

63 Moons Technologies Ltd is transforming from fintech to tech enterprise, focusing on blockchain, AI, and cybersecurity. Key initiatives include 63 SATS, 3.0 Verse, and QiLegal. Photo: AngelOne

As mentioned above, the company has forayed into new verticals which will take the scrip to new highs.

63 moons Technologies offers consultancy, computer programming, and related services. It is a global leader in supplying technical intellectual property (IP) and domain expertise for the development and trading of advanced financial markets. These markets are designed to be transparent, efficient, and liquid, covering a wide range of asset classes such as stocks, commodities, currencies, and bonds.

#Accumulate the shares of Vodafone Idea Ltd near Rs.16.57/Rs.16.60, T: Rs.25/Rs.27/Rs.32. Three recent developments involving Vodafone Idea are noteworthy:

💢Financial Guarantee Waiver Request: As reported by The Business Standard on July 11, 2024, Vodafone Idea has approached the Department of Telecommunications (DoT) to request a waiver for a financial bank guarantee worth Rs 24,747 crore, which is due in September 2025. 

This guarantee must be deposited one year prior to the due date, as per spectrum auction rules. A source, who wished to remain anonymous, informed PTI of this request.

The moratorium period for spectrum payment obligations from auctions held until 2016 ends between October 2025 and September 2026. Given the government’s significant stake in the company, it is anticipated that measures will be taken to prevent any adverse impact on Vodafone Idea.

💢 Convertible Debentures Conversion: According to a report by the Economic Times on July 12, 2024, the Indian unit of American Tower Corp (ATC) has asked Vodafone Idea to convert the remaining 1,600 optionally convertible debentures (OCDs) into 160 million fully paid equity shares, representing a small 0.2% stake. Vodafone Idea is working towards this conversion as part of its financial strategy.

💢 Funding and Network Improvements: The India Times reported on July 11, 2024, that Vodafone Idea, bolstered by Rs 215 billion in recent funding, is set to enhance its network quality, potentially slowing subscriber growth for competitors Reliance Jio and Bharti Airtel. S&P Global noted that Vodafone Idea raised most of these funds through a Rs.180 billion follow-on public offer (FPO) completed in April 2024. 

The company plans to issue shares worth Rs.24.6 billion to equipment vendors Nokia and Ericsson to settle outstanding payments. 

Meanwhile, Equity Analysts have set target prices for the company’s shares ranging from Rs.22 to Rs.34, despite expectations of revenue decline due to a lack of network expansion and ongoing subscriber churn. 

Furthermore, on the positive side, the impact of recent tariff hikes by all three telecom operators is expected to be felt from the third quarter of FY25.

In an interesting development, Narendra Modi government is making a killing in the shares of Vodafone Idea Ltd. It acquired its stake in Vodafone Idea Ltd at ₹10 per share, above the then market price of ₹6.85; as per Companies Act regulations. It was a very prudent move of the NDA government.

#Accumulate the shares of BLB Ltd (Rs.18.65) in market dips. In January 2024, media reports indicated that Dream Achiever Consultancy Services Private Limited had announced an open offer for the acquisition of up to 1,37,44,967 (One crore thirty-seven lakh forty-four thousand nine hundred sixty-seven) fully paid-up equity shares of BLB Limited.

The shares have a face value of Re.1 each and represent 26% of the total issued, outstanding, and fully paid-up equity share capital of the company. The offer price was set at Rs.22.60 per equity share, higher than the CMP of the shares, indicating some form safety in terms of investment.

#In another significant development, the shares of Indowind Energy Ltd (Rs.32) made an intraday high of Rs.34.65, a couple of days back. I have been recommending the share since it was near Rs.10. The stock has given multifold returns to patient shareholders. You may book complete profits and wait for dips to enter.

#In an encouraging development, the shares of my recently recommended P C Jewelers Ltd (Rs.70) made a new 52 - week high Today at Rs.70.70. You may book profits and wait for dips to enter again. Congratulations to the shareholders.