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Tag: bullish

  • Ashok Leyland nears majority stake deal in SML Isuzu; Bullish momentum ahead?

    Announcement Expected Soon; Board Meeting and Investor Call Scheduled for March 26

    India’s second-largest commercial vehicle manufacturer, Ashok Leyland, is reportedly in advanced talks to acquire a majority stake in SML Isuzu Limited. Sources indicate that negotiations are progressing with Japan’s Sumitomo Corporation and Isuzu, and a formal announcement could be made soon.

    Sumitomo currently holds about 44% of SML Isuzu, while Isuzu owns 15%. Together, their stakes are valued at approximately ₹1,350 crore. Reports suggest that Ashok Leyland may offer a 10-15% premium over SML Isuzu’s three-month average stock price.

    The company has scheduled a board meeting on March 26, followed by a conference call with investors at 5:15 PM to discuss key corporate updates.

    On March 25, SML Isuzu’s stock closed at ₹1,606 per share, with a market capitalization of over ₹2,300 crore.

    While emails sent to Ashok Leyland and SML Isuzu remained unanswered, updates will follow if the companies respond.

    This could mark one of Ashok Leyland’s biggest acquisitions in recent years, potentially reshaping India’s commercial vehicle market.

  • Brokerage Firms Bullish on Signature Global Issue BUY Rating with Target Price

    November 16, 2024 : The Leading Brokerage firms seem to be bullish on Signature Global (India). Post their (Signature Global) Q2FY25 result announcement, ICICI Securities and Motilal Oswal have given a BUY call on Signature Global stock.

    While ICICI Securities has maintained BUY call, with the target price of ₹2,007, Motilal Oswal has given a target price of ₹2,000 per share.

    The shares of the company were trading at 1298.05 a piece up 3.41% at the closing hour of 14th November 2024, Thursday. The total market cap stands at 18,238.99 crore.

    Brokerage Firm Recommendations

    Motilal Oswal has kept its BUY rating with a target price of ₹2,000 per share, indicating a 56% upside potential. The brokerage noted Signature Global’s strong performance, with pre-sales of ₹27.8 billion in Q2 FY25—up 183% year-on-year—boosted by the recent launches of Titanium SPR (group housing) and Daxin Vistas (township project) in the first half of FY25.

    Similarly, ICICI securities have retained its BUY rating with revised target price of Rs 2,007.

    The brokerage firm noted that the developer achieved a 63% sales booking CAGR from FY21 to FY24, primarily through affordable and mid-income housing projects. In H1 FY25, the developer recorded sales bookings of ₹59 billion, driven by the launch of the Titanium project in Sector 71, Gurugram, and the Daxin Vistas project in Sohna, Gurugram.

    “Given its strong launch pipeline of projects with cumulative GDV of over INR 450bn during FY24-28, we estimate 21% sales booking CAGR over FY24-27E, ranging between INR 110-130bn annually over FY25-27E. Factoring in strong H1FY25 result, we raise FY25/26E sales bookings by 7% each to INR 108bn and INR 114bn, respectively,” it added.


    Praveen

  • Fed Rate Decision sends Indian markets high on trajectory, bullish momentum to continue

    Jerome Powell

    U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 15, 2022. (Xinhua/Liu Jie/IANS)IANS

    After a sideways start, the Indian benchmark indices gained momentum this week after a surprise 50 bps rate cut by the US Fed Reserve, as Sensex crossed 84,000 for the first time and Nifty hit a new all-time high.

    As per market watchers, the apprehension of a slowdown in growth was eased slightly after the lower-than-expected US jobless claim and data pointed to a soft landing of the US economy at the start of the rate cut cycle. The ongoing bullish momentum is like to take Nifty towards 25,900-26,000 levels.

    On the upside, 26,000 will act as an immediate hurdle for Nifty. “On the downside, 25,500 will serve as an immediate support for Nifty followed by 15-DEMA support, which is placed near 25,300 levels. As long as Nifty stays above 25,600, a ‘Buy on Dips’ strategy is advisable for traders,” said Hrishikesh Yedve from Asit C Mehta Investment Interrmediates.

    Following the Fed’s rate revision, Indian markets have seen renewed buying interest, particularly in sectors that had previously experienced selling pressure. “The resilience of the Indian markets is providing additional strength to the rupee. Key support levels for the rupee are seen at 83.60-83.65, while resistance lies in the range of 83.40-83.30,” said Jateen Trivedi from LKP Securities.

    Sensex snaps 3-day losing streak on rebound in FMCG and Pvt Bank shares

    The rupee traded positively with gains of 0.10 at 83.53, supported by continued weakness in the dollar index, which is trading at 52-week lows.

    Analysts saw a sectorial rotation among investors to large caps, especially in consumption, staples, auto, finance, and realty. In the short term, investors are being cautious on export-oriented sectors like pharma and IT due to depreciation in the dollar, they added.

    Gold traded very positively, reaching an all-time high in Comex above $2,610, driven by strong liquidity inflows from the US Fed following a significant rate cut. Analysts said that the outlook for gold continues to favour upward momentum, with further rate cuts likely boosting prices.

    (With inputs from IANS)

  • Wearables device segment sees slower growth in March quarter but players remain bullish on outlook

    The wearable device segment witnessed sluggish growth developments in the March quarter but players stated they proceed to have a bullish outlook. As per estimates launched by IDC, India’s good wearable device market grew by merely 2.1 per cent in March quarter (Q1 2024) year-over-year (y-o-y) to 25.6 million items after rising by double digits consecutively since This autumn 2017.

    Responding to businessline’s queries, Amit Khatri, Co-Founder, Noise, stated, “The wearables trade in India continues to develop. Although it exhibits a single-digit growth price, this displays the market’s maturation and the broadening adoption of wearable expertise somewhat than stagnation. With elevated market penetration through the years, the growth price naturally varies.”

    • Also learn: India has the potential to grow to be an export hub for home equipment, wearables: Sunil Vachani, President, CEAMA

    Khatri identified that the good wearable ecosystem is “very dynamic”, and players might want to adapt and continually revamp their methods to maintain. “We have demonstrated optimistic growth, with the very best growth price of 19 per cent in comparison with different manufacturers. We are dedicated to sustaining this momentum by means of our strategic focus on superior innovation, consumer-centricity, and premiumization,” he said.

    IDC’s report indicated that India’s smartwatch shipments declined for the primary time since This autumn, 2018 by 7.3 per cent to 9.6 million items y-o-y in Q1 2024 (vs Q1 2023). Meanwhile, wristband shipments grew by 17.5 per cent over Q1 2023 and the earwear segment grew by 8.3 per cent. The report has flagged early indicators of slowdown in the smartwatch segment in India this 12 months, whereas earwear shipments are anticipated to develop by “mid-single-digit”.

    “We are very optimistic and bullish in regards to the wearables segment. We foresee a powerful growth trajectory over the following few quarters, pushed by our upcoming revolutionary product launches,” stated Arnav Kishore, Founder and CEO, Fireboltt. He added that the corporate is focusing strongly on strategic investments in R&D to make sure sustained growth and supply customer-centric options. 

  • Wearables device segment sees slower growth in March quarter but players remain bullish on outlook

    The wearable device segment witnessed sluggish growth traits in the March quarter but players stated they proceed to have a bullish outlook. As per estimates launched by IDC, India’s sensible wearable device market grew by merely 2.1 per cent in March quarter (Q1 2024) year-over-year (y-o-y) to 25.6 million models after rising by double digits consecutively since This autumn 2017.

    Responding to businessline’s queries, Amit Khatri, Co-Founder, Noise, stated, “The wearables trade in India continues to develop. Although it exhibits a single-digit growth charge, this displays the market’s maturation and the broadening adoption of wearable know-how quite than stagnation. With elevated market penetration over time, the growth charge naturally varies.”

    • Also learn: India has the potential to grow to be an export hub for home equipment, wearables: Sunil Vachani, President, CEAMA

    Khatri identified that the sensible wearable ecosystem is “very dynamic”, and players might want to adapt and always revamp their methods to maintain. “We have demonstrated constructive growth, with the best growth charge of 19 per cent in comparison with different manufacturers. We are dedicated to sustaining this momentum via our strategic focus on superior innovation, consumer-centricity, and premiumization,” he said.

    IDC’s report indicated that India’s smartwatch shipments declined for the primary time since This autumn, 2018 by 7.3 per cent to 9.6 million models y-o-y in Q1 2024 (vs Q1 2023). Meanwhile, wristband shipments grew by 17.5 per cent over Q1 2023 and the earwear segment grew by 8.3 per cent. The report has flagged early indicators of slowdown in the smartwatch segment in India this 12 months, whereas earwear shipments are anticipated to develop by “mid-single-digit”.

    “We are very optimistic and bullish concerning the wearables segment. We foresee a powerful growth trajectory over the following few quarters, pushed by our upcoming modern product launches,” stated Arnav Kishore, Founder and CEO, Fireboltt. He added that the corporate is focusing strongly on strategic investments in R&D to make sure sustained growth and supply customer-centric options. 

  • Dollar Industries Bullish About South India Market

    Dollar Industries Bullish About South India Market
    (L-R) Mr Vinod Kumar Gupta, Managing Director & Mr Binay Kumar Gupta, Jt. Managing Director, Dollar Industries Limited; at a press convention to announce Dollar Industries: Vision South India; at present at Taj Deccan.

    Hyderabad, thirteenth June 2024: Dollar Industries Limited, one of the vital trusted names within the way of life outerwear & innerwear enterprise in India, at present shared their Vision for the South Indian markets. As a serious step, Dollar Industries has signed celebrity, Mr. Mahesh Babu as their Brand Ambassador for South India.

    Dollar Industries Limited, which started its journey in 1972 underneath the ready management of visionary par excellence Mr. Din Dayal Gupta, as Bhawani Textiles, now holds 15% market share of the branded hosiery section in India and the Group is concentrating on a progress of 11% – 12% at on a year-on-year foundation. As part of their Vision South India technique, Dollar Industries is concentrating on round 50% progress in gross sales from Southern market as in comparison with present 12 months.

    “We have obtained an excellent response for our merchandise from the Southern markets and customers have accepted our high quality merchandise at reasonably priced costs from the home of Dollar. The acceptance right here is clear from our gross sales progress in these markets. Our home gross sales have lately elevated from these markets and stands at round 8%. With Mahesh Babu now being our Brand Ambassador for southern market, it would act as a catalyst to spice up our model prominence and gross sales much more. We are extraordinarily bullish and concentrating on to garner round 20% of our home income from South market”, stated Mr Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd.

    “Dollar Industries is experiencing strong demand and an growing proportion of higher-margin merchandise in our portfolio. This optimistic pattern positions us nicely to realize our desired topline and bottom-line progress within the close to future. We even have plans to open 50 unique model outlet throughout the south market within the coming 3 years the place customers can expertise your complete vary of Dollar merchandise” stated Mr Binay Kumar Gupta, Joint Managing Director, Dollar Industries Ltd.

    The vast number of Dollar merchandise are unfold throughout 6 classes – MAN, WOMAN, JUNIOR, ALWAYS, THERMALS & PROTECT. Bollywood celebrity Mr. Akshay Kumar, endorsing Dollar Man, is related to Dollar because the model ambassador for over 14 years. Actress, Ms. Yami Gautam is the model ambassador for Dollar Women i.e Missy and Actor, Mr. Saif Ali Khan is the model ambassador for Dollar Always i.e Lehar

    Dollar Industries have manufacturing models in Kolkata, Ludhiana, Tirupur & New Delhi. The firm has a aim to achieve a income of Rs 2000 crore by FY26, and to realize this income, the corporate has already introduced a capex within the 12 months 2021, for growing the capability of the spinning unit in Tirupur from 22000 spindles to 42000 spindles. That capex has already been incurred and really quickly the extra manufacturing capability will begin which can assist us internally in manufacturing.

    “Tirupur being the hub for hosiery business due to its financial and monetary viability, now we have our manufacturing system in Tirupur and the enterprise has grown over time. We have many sellers who’re related to us in southern market who’re an excellent help for the Company when it comes to promoting and distribution of the merchandise. In the latest previous now we have began our flagship initiative, Project Lakshya, for rising our gross sales in south market. The Pilot undertaking was began in Karnataka within the 12 months 2019. The response was so spectacular that we determined to duplicate the identical mannequin at Pan India stage in phased method”, added Mr Vinod Kumar Gupta.

    For FY24, Dollar Industries’ gross profit grew 22.6% YoY to ₹ 50,588 Lacs, whereas EBITDA grew by 61.5% to ₹ 15,864 Lacs. The firm achieved PAT of ₹ 9,020 Lacs, displaying a progress of 71.7% YoY, registering a PAT margin of 5.7%.

    Dollar’s progress is sustained by introducing newer designs and high quality merchandise in response to the shopper’s evolving specs and calls for. Brand loyalty too has additionally performed an essential position within the firm’s progress. Adhering to newest applied sciences and improvements have helped the corporate in making a benchmark within the business. Dollar believes in eco-friendly methods of manufacturing, and thus have launched a zero – discharge method with evaporation system.

    As part of the corporate’s Green Mission initiative the present 6 MW Solar Power Plant is already in use and 2MW unit can be put in however pending for presidency approval which can be additional taking it up at 8MW.


    Mansi Praharaj