Tata Chemicals

The company signed an MoU with the Government of Gujarat to set up a 20 GW capacity lithium-ion cell manufacturing giga factory with an investment of Rs 13,000 crore, the state government said in a statement. The company will reorganise its U.S. operations to rationalise the number of intermediate entities.

Money Times Talk

*IRCTC’* NP rose 30.41% to Rs.279 cr. on 39% higher revenue of Rs.965 cr. and it has also declared a final dividend. Add for the long term. Young Jonnavittula Ananth to steer fintech *Vedvaag Systems* into the lucrative Artificial Intelligence (AI) and Machine Learning (ML) from this fiscal FY24. Stock to deliver surprising returns. Buy. *Inox Winds* expects better days to return soon on the back of its strong order book, rising margins and government push to the industry. Add. *Sobha Ltd’s* Q4 NP grew to Rs.49 cr. Net sales grew 70.34% YoY to Rs.1,209.9 cr. Add for the long term. *Refex Industries:* Money Times had recommended this share four months back at Rs.226. It’s now around Rs.550. Some more steam is left. Hold for some more time. *JK Cement* is ramping up capacities and expects to grow faster than the industry as the new capacities are at optimum levels. Add *Healthcare Global’s* debts are declining on the back of greater influx of foreign business. It hopes to garner better margins, which will push up profits and the share price. Add. *Force Motors* posted a good Q4, representing a turnaround. Keep it on your radar. *NCC* management has denied rumors that Karnataka Govt. had cancelled the orders awarded to it and it continues to do well. Do not sell. *JBM Auto* is repeatedly trying to breach the Rs.800 barrier with strong volumes. A hundred rupees jump looks imminent. Add for the short term. *ONGC* to spend about Rs.1 trillion by 2030 to control carbon emission. A big positive. This Fortune 500 share must find place in every model portfolio. India's largest tractor manufacturer, *M&M,* to make lightweight tractors for heavy market share gains. Its exports grew 15% in FY23. Add. *Gravita India* is hovering around its all-time high of Rs.615. Any decisive breakout can take its price to Rs.675-677. Hold. *PFC* is reporting higher price and higher volumes. Intelligent buying is suggestive of a bonus in the near term. Buy. *Mazagon Dock Shipbuilders’* FY23 NP was Rs.1072 cr. and a final dividend of Rs.6.90 has been declared. It is sitting on an order book of Rs.38,755 cr. Add for the long term. *Coal India* has raised the price of non-coking coal by about 8% for June 2023. This profit accretive move merits an Add. Although *Suzlon Energy’s* Q4 revenue fell to Rs.1689 cr. YoY, it posted turnaround results with NP of Rs.280 cr. from a loss of Rs.204 cr. YoY. Its debt has sharply reduced to Rs.1180 cr. from Rs.5796 cr. last year. Add for the long term. *Ugro Capital* plans to raise Rs.295 cr. through NCDs for onward lending and business purposes. Add in small quantities. The upbeat commentary of *BHEL* management points to a brighter future on the back of its bulging export orders and execution capabilities. Add in small lots. *GMDC* notched FY23 EPS of Rs.38.33 from FY22 EPS of Rs.6.85. It also declared a dividend of Rs.9.10/share. Add for good returns. *Geekay Wires* notched 204% higher FY23 EPS of Rs.26, which may lead to FY24 EPS of Rs.45. Buy for 50% gain. *Chamanlal Setia* notched 82% higher FY23 EPS of Rs.22.8, which may lead to FY24 EPS of Rs.30. Buy for 50% gain. *Suraj Products* notched 62% higher Q4 EPS of Rs.6.7 and 10% higher FY23 EPS of Rs.22.8, which may lead to FY24 EPS of Rs.26+. Buy for 30% gain. *Mallcom (India)* notched FY23 EPS of Rs.50.2, which may lead to FY24 EPS of Rs.65. Heavy investment buying is seen in this counter with rising volumes. Buy for 20% gain. *Karnataka Bank* notched 171% higher Q4 EPS of Rs.11.1 and 132% higher FY23 EPS of Rs.37.7, which may lead to FY24 EPS of Rs.45. Buy for 50% gain. *Andhra Paper Mills* notched 169% higher Q4 EPS of Rs.38.7 and 274% higher FY23 EPS of Rs.131. Buy for 20% gain. *ITL Industries* notched 26% higher Q4 EPS of Rs.7.6 and FY23 EPS of Rs.24.1, which may lead to FY24 EPS of Rs.30. Buy for 30% gain. *IZMO* notched 38% higher Q4 EPS of Rs.6.2 and 25% higher FY23 EPS of Rs.15, which may lead to FY24 EPS of Rs.18+. Buy on dips.

Headlines from SIPfund.

*Economic Times* 📝 Godrej Properties hikes stake in two subsidiaries, gets complete control 📝 Bajaj Finserv to invest Rs 5k cr in Pune; will create 40k jobs, says Devendra Fadnavis 📝 88 pc wage payment under MNREGS done through Aadhaar Based Payment System in May: Govt 📝 World Bank's new chief Ajay Banga asks staff to 'double down' on development, climate efforts 📝 Swiss administration hit by cyber attack 📝 Food-delivery firms Zomato, Swiggy clock only 7% growth in biz during IPL: report 📝 Majority of EU countries against network fee levy on Big Tech: report *Business Standard* 📝 Train accident: Govt asks airlines to keep fares on Odisha flights in check 📝 FPIs invest Rs 43,838 cr in India in May, likely to continue in June 📝 RBI-MPC may lower inflation forecast marginally: BoB Chief Economist 📝 Less than 1 in 3 startups manage to raise follow-on funding: Study 📝 US Defence Secy Lloyd Austin to arrive in India for a 2-day visit on Sunday *Financial Express* 📝 Goa: Engagement group meet to discuss USD 1 trillion investment in start ups by 2030 📝 Future Lifestyle gets claims of Rs 2,156 cr from 12 creditors 📝 India Cements embarks on turnaround strategy 📝 Pakistan would not default on any sovereign commitments: Finance Minister Dar *Mint* 📝 Odisha train accident: LIC simplifies claim process for tragedy victims 📝 European Union formally notifies carbon tax at WTO 📝 India’s fossil fuel burn to surge as heatwave triggers peak power demand: S&P 📝 Next G20 health meeting to focus on global health priorities

India's Q4FY23 GDP growth

India's Q4FY23 GDP growth rate was 6.1%, compared to the projected 5% growth. Q1 was 13.5%. Q2 was 6.3%. Q3 was 4.4%. The RBI's FY23 annual report projects that India's GDP will grow by 7%. India's full-year GDP growth is 7.2%, which is higher than the advance estimates.

Morgan Stanley report

Morgan Stanley report predicts that India's export market share will rise to 4.5% by 2031, nearly 2 times from 2021 levels India's per capita income will increase from US$2,200 currently to about US$5,200 by 2032 Manufacturing🔥 Consumption🔥 India will emerge as a key driver of growth for Asia and the world

Prestige Estate Projects

Revenue 9.64% at Rs 2,631.8 crore (Bloomberg estimate: Rs 1,923.5 crore) Ebitda up 36.5% at Rs 681.8 crore (Bloomberg estimate: Rs 431.4 crore) Ebitda margin at 25.9% vs 20.8% (Bloomberg estimate: 22.4%) Net profit down 46.5% at Rs 505.4 crore (Bloomberg estimate: Rs 132.32 crore) The group recorded one-time gains of Rs 11.9 crore during the quarter under review, against Rs 807.9 crore exceptional gain in the year-ago period. The board approved a final dividend of Rs 1.50 per share for the fiscal 2023. It also approved raising Rs 2,000 crore via non-convertible debentures.

Torrent Pharmaceuticals

Revenue up 16.9% at Rs 2,491 crore (Bloomberg estimate: Rs 2,474.3 crore) Ebitda up 29.6% at Rs 727 crore (Bloomberg estimate: Rs 728.6 crore) Ebitda margin at 29.2% vs 26.3% (Bloomberg estimate: 29.4%) Net profit of Rs 287 crore vs net loss of Rs 118 crore (Bloomberg estimate: Rs 322.2 crore profit) The board approved raising Rs 5,000 crore via crore via debt. The company will pay a final dividend of Rs 8 per share for the fiscal 2023.