Banks, RIL lift Sensex 397 pts; broader indices underperform

ICICI Bank (up 2.7 per cent), HDFC, Axis Bank, Sun Pharma, and NTPC were the top gainers on the frontline S&P BSE Sensex

8:35 AM

Sharekhan on Mahindra Lifespace

We retain Buy on Mahindra Lifespace Developers Limited (MLDL) with a revised PT of Rs. 795, owing to strong growth outlook and valuation comfort.

Property registrations in Mumbai and Maharashtra show encouraging signs in Q1FY2022 and July till date. Unsold inventory stable q-o-q and down y-o-y during Q1FY2022.

Healthy traction in MLDL’s region of operations indicates Q1FY2022 sales to be around H1FY2021 and significantly higher y-o-y. Collections to be much better y-o-y, owing to low base and lesser impact of COVID-19 second wave on consumers.

We expect new launches from Q2FY2022, which along with improving realty market would aid in healthy pre-sales for FY2022. The company is actively pursuing Rs. 4,500 crore worth of land deals for future growth.

8:28 AM

Monarch Networth Capital on Galaxy Surfactants

Galaxy’s customers operate within the consumer-centric personal & home care segments where a number of its products enjoy a strong positioning in the ingredients value chain. Accordingly, it benefits from high growth in the FMCG industry, which is largely unaffected by economic cycles. The lifecycle of its customers is linked to that of customers’ products, which may be several years or even decades in the case of some products.

We believe Galaxy deserves a higher valuation multiple compared to other chemical companies due to its higher return ratios and strong visibility on earnings growth. The company is also relatively less exposed to the general risks faced by chemical companies, such as commodity price fluctuations and cyclicality.

Hence, we assign a PE multiple of 31x (premium to other chemical companies as discussed above) on FY23E earnings of Rs 112 post which we arrive at a target of Rs3,500, an upside of 11% from current levels. While current and attributed valuations may appear demanding, we strongly believe they are justified given the abovementioned prospects

8:21 AM

Systematix Institutional Equities on Consumer and Retail sector

1QFY22-end update of MRCO and GCPL suggests that the impact of regionallockdowns on sales growth has been less adverse than initially expected. Sales growth in Apr’21 was similar to 4QFY21 but lockdown restrictions (limited store operational hours) impacted the May’21 print. With the easing of lockdowns across

states, the demand and sales recovery in Jun’21 has been faster than expected.

We estimate our consumer staples universe (ex ITC) to report revenue/EBITDA/adj. net profit growth of 12.8%/3.4%/3.2% YoY aided by the low revenue base of 1QFY21. On a 2-year CAGR basis, our coverage universe (ex ITC) should report 8.1% revenue growth (vs. 10.3% in 4QFY21). TATACONS, GCPL and BRIT are likely to lead in terms of revenue growth on a 2-year CAGR basis. Healthcare and hygiene categories should benefit from the second wave while lower mobility would hurt discretionary and outof-home categories.

8:17 AM

Stocks to watch today

RIL, Airtel, Voda Idea: Shares of telecom companies will be in focus after latest TRAI data showed Reliance Jio lead the market in mobile subscriber additions as it gained 4.7 million users in April even as troubled Vodafone Idea lost 1.8 million customers during the same period. Bharti Airtel added just 0.51 million mobile subscribers in April.

 

Sunteck Realty: The company's pre-sales grew 74 per cent YoY in Q1FY22 to Rs 176 crore and collections grew by 165 per cent YoY to Rs 172 crore. READ MORE

 

8:15 AM

Osho Krishan of Anand Rathi is bullish on these 3 stocks

BUY FDC LTD | TARGET: Rs 404 | STOP LOSS: Rs 350

 

FDC is in secular uptrend and is in the cycle of higher highs higher lows suggesting inherent strength in the counter. On daily time frame, the stock is placed well above all its major exponential moving averages and hovering near the upper band of the Bollinger (20, 2) affirming the uptrend. READ MORE

8:13 AM

Results Today

8:11 AM

BSE bulk deal data on Monday

Click here for full list

8:10 AM

NSE bulk deals on Monday

Read here in detail

8:08 AM

FII & DII activity on Monday

Source: NSE

8:01 AM

Rupee check

Source: Bloomberg

7:57 AM

Brent crude hovers around $75/bbl-mark

7:51 AM

SGX Nifty hints at gap-up start on Dalal Street

>> At 7:50 AM, Nifty Futures on the Singaporean Exchange were up 128 points at 15,816 levels

7:48 AM

Asian markets mirror US gains

In Asia, stocks opened firmer on the back of strong trend in the US markets. Japan's Topix index gained 0.6 per cent, Australia’s S&P/ASX 200 Index added 0.1 per cent and Kospi index was up 0.6 per cent.

 

7:43 AM

Wall Street on Monday

Wall Street's main indexes closed at their highest levels overnight, lifted by Tesla and bank stocks as investors eyed the start of the second-quarter earnings season and a batch of economic data. The Dow Jones Industrial Average rose 0.36 per cent while the S&P 500 gained 0.35 per cent and the Nasdaq Composite climbed 0.21 per cent.

7:39 AM

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