Air conditioning and <keyword id="17833175" type="General" weightage="20" keywordseo="engineering-services" botkeyword="" source="Denny">engineering services</keyword> provider <keyword id="21567326" type="General" weightage="20" keywordseo="Voltas-Ltd" botkeyword="" source="Denny" meta.keywordsubtype="org" meta.entityname="Voltas Ltd" meta.hostid="153" meta.entityid="Voltas Ltd">Voltas Ltd</keyword> on Tuesday reported a 22.75 per cent decline in <keyword id="20203162" type="General" weightage="20" keywordseo="consolidated" botkeyword="" source="Denny">consolidated</keyword> <keyword id="17985868" type="General" weightage="20" keywordseo="net-profit" botkeyword="" source="Denny">net profit</keyword> to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher <keyword id="18067946" type="General" weightage="20" keywordseo="expenses" botkeyword="" source="Denny">expenses</keyword>. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, <keyword id="6354999" type="DOMAIN" weightage="20" keywordseo="voltas" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="voltas" meta.entityname="Voltas Ltd." meta.entityid="12815" meta.seoname="voltas-ltd">Voltas</keyword> said in a regulatory filing. Consolidated <keyword id="17915033" type="General" weightage="20" keywordseo="revenue" botkeyword="" source="Denny">revenue</keyword> from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue of Rs 156 crore as compared to Rs 142 crore in the year-ago period, it added. Similarly, electro-mechanical <keyword id="18084086" type="General" weightage="20" keywordseo="projects" botkeyword="" source="Denny">projects</keyword> and services segment comprising both domestic and international projects businesses grew by 38 per cent year-an-year due to a healthy carry forward order book position, it added. <keyword id="21544478" type="General" weightage="20" keywordseo="Voltas" botkeyword="" source="Denny">Voltas</keyword> said for the fiscal ended March 31, 2024, consolidated net profit was higher at Rs 248.11 crore as compared to Rs 136.22 crore in the previous year. Consolidated revenue from operations in FY24 was at Rs 12,481.21 crore as against Rs 9,498.77 crore in FY23. The company said it achieved the milestone of 20 lakh <keyword id="21211630" type="General" weightage="20" keywordseo="AC-sales" botkeyword="" source="Denny">AC sales</keyword> in 2023-24. Voltas said its board of directors has recommended a <keyword id="18713200" type="General" weightage="20" keywordseo="dividend" botkeyword="" source="Denny">dividend</keyword> of Rs 5 per share of the face value of Re 1 per share for the year 2023-24 subject to the approval of shareholders of the company. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Voltas net profit declines 22% YoY to ₹110.64 crore in Q4 FY24

Shares of air conditioning and engineering services provider <keyword id="6354999" type="General" weightage="20" keywordseo="Voltas" source="Orion">Voltas</keyword> Ltd on Wednesday ended 5 per cent lower after the company reported a 22.75 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2024. The stock plunged 9.13 per cent to Rs 1,261.65 during the day on the BSE. Later, it ended at Rs 1,319.10, a decline of 4.99 per cent. At the NSE, it dropped 9.15 per cent to Rs 1,262 apiece during the day. The stock ended at Rs 1,323.15, lower by 4.75 per cent. The company's market capitalisation (mcap) declined Rs 2,294.68 crore to Rs 43,647.01 crore. In traded volume terms, 2.19 lakh shares of the company were traded at the BSE and 91.33 lakh shares at the NSE during the day. Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the March quarter, impacted by higher expenses. The company had posted a consolidated net profit of Rs 143.23 crore in the same period of the previous fiscal, Voltas said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore, as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore, compared to Rs 2,761.45 crore in the corresponding period a year ago. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank">TBO Tek IPO – Company details to risk factors, all you need to know</a>

Voltas shares drop 5% after Q4 earnings

<ul><li>IMD forecasts a searing summer with “above normal” temperatures in most of northeast, eastern, central India and parts of northwest India.</li><li>Japanese electronics brand Panasonic expects a good summer with double digit growth.</li><li> JM Financial is of the view that demand for ACs will pick up this March and dealers are stocking up inventory.</li></ul>The summer of 2023 got off to an early start, and even with gusts of hail and wind, unpredictable and unseasonal weather is bringing cheer to makers of air conditioners. “We believe summer-23 is likely to be a healthy season for <keyword id="7743494" type="General" weightage="20" keywordseo="ac-manufacturers" source="Orion">AC manufacturers</keyword>, given soaring temperature and higher probability of occurrence of heat waves across cities and normalisation of commercial activities,” said a report by JM Financial. The report suggests that AC demand will pick up this March, and dealers have already started stocking up inventory in anticipation of good sales. Analysts at JM Financial believe that this year is widely expected to be a little hotter than the previous two years globally “mainly because of the expected end of the strongest ever La Niña event”. The India Meteorological Department (IMD) too forecasts a searing summer with “above normal” temperatures in most of northeast, eastern, central India and parts of northwest India. In fact in March, several parts of the country have been impacted with <a href="https://www.businessinsider.in/india/news/erratic-rains-thunderstorms-more-in-march-impacts-lives-and-livelihoods/slidelist/98807776.cms">erratic environmental changes </a>including early monsoon, hailstorms and strong winds. This was right after an unusually hot February. Besides, it also expects heat waves during March-May in most parts of India, except for the northeastern states, Jammu and Kashmir, Uttarakhand, Himachal Pradesh, Kerala and coastal Karnataka. Hot summer to bring hot sales for AC manufacturers Japanese electronics brand Panasonic also expects a good summer with double digit growth. “At Panasonic, we are expecting healthy growth for our summer products such as ACs, refrigerators, etc., to name a few. Last year for our cooling products like ACs and refrigerators, we registered around 35% (for April 2022 till February 2023 as compared to the same period in 2021). this year we are hoping for continued growth momentum registering double-digit growth,” said Fumiyasu Fujimori, MD, Panasonic Marketing India, Panasonic Life Solutions India. High demand from Mumbai &amp; Bengaluru Analysts say that demand has already picked up in anticipation of a hot summer. The report stated that demand in all major cities like Delhi, Chennai, Hyderabad and Kolkata witnessed moderation currently, whereas Mumbai, Bengaluru and certain pockets in Ahmedabad are witnessing pickup in demand given the early onset of summer. The brokerage firm has stated that Voltas remains their top pick, followed by <keyword id="152126" type="General" weightage="20" keywordseo="blue-star" source="Orion">Blue Star</keyword> and Amber Enterprises. Analysts feel that rising disposable income, improving standard of living and willingness to spend on comfort is the reason why demand for such white appliances is increasing. “With the increase in disposable income, rapid urbanization, improving standard of living, and easy financing options, consumers are willing to spend on appliances that are energy-efficient, smart, connected, and provide comfort and convenience that enhances their lifestyles,” said JM Financial. The Consumer Electronics and Appliances Manufacturers Association is expecting sales in the summer periods of March to May this year to be anywhere between 15% to 20% higher than last year, according to a report by <a href="https://www.cnbctv18.com/business/consumer-durable-makers-gear-up-make-hay-while-sun-shines-expect-20-percent-growth-in-sales-16226681.htm">CNBCTV18</a>. Channel check with dealers by JM Financial shows that demand for Voltas and other brands like Lloyd, Hitachi and Panasonic is better than previous years. They say that currently, demand for products of Voltas remains high, especially in lower tier cities because of higher brand awareness. However, with increased product offering by other brands, dealers anticipate pickup in demand from other brands as well. Analysts say Blue Star continues to be a preferred brand in Southern markets, while their presence in the North is also increasing. Other players such as Lloyd and LG continue to be preferred brands of choice for customers in South India whereas Daikin, Hitachi, LG and Panasonic are prominent in West India, says the report. Listed AC manufacturers <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AC manufacturers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change YTD </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blue Star </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Voltas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amber Enterprises India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Johnson Controls Hitachi Air Condition </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.21% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Room for growth Besides, the Indian summer has broken multiple heat records over the past decade and created a strong demand for air conditioning in Indian homes and offices, says Statista, a data platform. “Increasing demand for home appliances , along with a fairly low penetration rate, has left the Indian <keyword id="6365348" type="General" weightage="20" keywordseo="air-conditioner" source="Orion">air conditioner</keyword> market with plenty of room to grow and is estimated to reach 9.7 million units in the financial year 2023,” said Statista. Adding to the celebration, since October 2020, the Indian government has banned imports of ready-to-install air conditioners, providing a boost to manufacturers in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/digitalisation-credit-growth-government-policies-to-drive-msme-growth-say-experts/articleshow/98962354.cms">Digitalisation, credit growth, government policies to drive MSME growth, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/first-82-days-of-2023-see-more-layoffs-than-the-entire-2022/slidelist/98960848.cms">First 82 days of 2023 see more layoffs than the entire 2022</a>

AC manufacturers expect strong growth this summer led by unseasonal weather

Shares of <keyword id="6354999" type="General" weightage="20" keywordseo="voltas" source="Orion">Voltas</keyword> Ltd fell by nearly 3 per cent on Thursday morning trade after the air conditioning maker reported a decline of 21.6 per cent in its consolidated net profit in the March 2023 quarter. The stock fell by 2.85 per cent to Rs 830.60 on the BSE. At the NSE, it declined 2.82 per cent to Rs 830.50. Voltas Ltd on Wednesday reported a decline of 21.6 per cent in its consolidated net profit at Rs 143.23 crore in the March 2023 quarter, due to provisions made on delayed collection in the international project business. The Tata group firm had posted a consolidated net profit of Rs 182.71 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations of Voltas was up 11.5 per cent to Rs 2,936.76 crore during the period under review, as against Rs 2,633.72 crore a year ago. "Profit before and after taxes were impacted during the current quarter due to provisions made on delayed collection in the international project business," Voltas said in its earnings statement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms">Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bajaj-finance-reports-30-jump-in-net-profit-to-3158-crore/articleshow/99792032.cms">NBFC giant Bajaj Finance reports 30% jump in Q4 net profit to ₹3,158 crore; books record new loans in FY23</a>

Voltas shares decline nearly 3% after March quarter earnings announcement

<keyword id="2746883" type="General" weightage="50" keywordseo="key-highlights" source="Orion">Key Highlights</keyword> for April '22: <ul><li>Room Air Conditioner category recorded an unprecedented growth of over 170%</li><li>The overall Cooling Products segment grew by more than 160%</li><li>Commercial Refrigeration category grew by 125%Voltas <keyword id="1762359" type="General" weightage="50" keywordseo="beko" source="Orion">Beko</keyword> home appliances segment grew by 75%.</li></ul> <keyword id="452495" type="General" weightage="50" keywordseo="voltas-limited" source="Orion">Voltas Limited</keyword>,, from the house of <keyword id="8555" type="General" weightage="50" keywordseo="tata" source="Orion">Tata</keyword>'s, recorded a triple-digit growth in April 2022 , due to an increase in demand for cooling products given the intense summer experienced across the country. The volumes of April 2022 in the cooling products segment has broken many records. <keyword id="6354999" type="General" weightage="100" keywordseo="voltas" source="Orion">Voltas</keyword> has been the undisputed market leader in the Room Air Conditioner category since more than a decade, consistently maintaining the No. 1 position and has steadily maintained its lead over competition, with a lead of more than 640 BPS over nearest competitor as on YTD March FY22. The brand is now gearing up to meet its business objectives for FY 23. Commenting on the performance, Mr. <keyword id="272815" type="General" weightage="50" keywordseo="pradeep-bakshi" source="Orion">Pradeep Bakshi</keyword>, Managing Director &amp; CEO, <keyword id="201377" type="General" weightage="50" keywordseo="voltas-ltd" source="Orion">Voltas Ltd</keyword> said, "The summer of April 2022, has helped us gain an unprecedented growth in comparison to the last three years. Our Room AC business has grown up by over 170% in volume. The overall cooling products business has grown by more than 160% while our Home Appliances grew by 75% in volume. In Commercial Refrigeration, the company has grown by 125% in volume in April 22. We believe that our wide presence, focus on the emerging channels, excellent distribution network, strongest brand equity and attractive consumer offers, will help the brand stay ahead of the industry" He further added, "We are well poised to meet the growing demand, and are optimistic about achieving our business objectives for the financial year FY23." Besides its 24,000 customer touch points, Voltas also has a widespread network of exclusive brand outlets (EBOs) and plans to launch many more Brand Shops and Experience Zones by the end of FY 23. The Company has recently launched a dynamic product portfolio for the summer, and several Brand Shops in Tier 1, 2, and 3 cities across the country, to meet the expectations of consumers in these markets and enable them to experience the best-in-class technologically advanced products. Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.

Voltas records an unprecedented triple-digit growth in April '22

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Wednesday amid negative global cues and weak earnings in the US. </li><li>Banking and metal stocks declined while IT stocks edged up. </li><li>Both the indices were down 0.1% – while Sensex fell 83 points to 60,051, Nifty50 fell 32 points to 17,738.</li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade on Wednesday amid negative global cues and weak earnings in the US. Banking and metal stocks declined while IT stocks edged up. Both the indices were down 0.1% in morning trade – while Sensex fell 83 points to 60,051, Nifty50 fell 32 points to 17,738. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.52% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.61% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.45% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.85% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.83% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.69% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.71% </td></tr></tbody></table> Source: NSE, as on April 26, 2023 Earlier on Tuesday, markets extended their gains to the fourth consecutive day, edging up by a little over 0.1%. Gold prices edged up to cross the ₹60,000 per 10 grams mark once again, while silver prices softened to below ₹75,000 per kilogram. Crude oil prices remained stable, with Brent crude oil hovering around the $81 per barrel mark on Wednesday morning. <cmsannotation type="cmsannotation" annotationid="US markets tumble on weak earnings" comment="subhead" text="US markets tumble on weak earnings">US markets tumble on weak earnings</cmsannotation> Markets in the US tumbled to post their largest single day decline on Tuesday amid weak earnings reigniting concerns of an economic slowdown. While Dow Jones declined 1%, S&amp;P 500 fell nearly 1.6%. The tech-heavy Nasdaq witnessed a decline of nearly 2%. Causing concerns was a weak earnings forecast by United Parcel Service (UPS), while First Republic Bank’s shares fell nearly 50% amid plunging deposits leading to jitters about the health of the US banking sector. Markets in Asia were also largely negative on Wednesday morning reflecting the concerns in the US. Nikkei 225 fell the most at 0.53%, followed by Taiwan Weighted, KOSPI and Shanghai Composite which were down by 0.2%. On the other hand, the Hang Seng index rose 0.43%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Bajaj Auto: The automaker’s Q4 standalone net profit fell to ₹1,433 crore, down by nearly 2% YoY. Rising input costs and shrinking exports ate into the two-wheeler maker's volumes as well as bottomline, even as the company’s topline expanded by 12% to ₹8,905 crore during the quarter. Tata Consumer Products: The FMCG player reported a 21% rise in consolidated net profit at ₹289 crore in March quarter while its revenue from operations rose 14% to ₹3,618 crore during the same period. Maruti Suzuki: The largest Indian automobile manufacturer has upgraded its entire range of vehicles to meet the BS6 emission norms including hatchbacks, sedans, SUVs, MPVs and commercial vehicles. HDFC AMC: The mutual fund company’s net profit for Q4 rose 9% to ₹376 crore from ₹343 crore last year while its total income grew by 10% to ₹637 crore. Zomato: The food delivery platform has signed an agreement with Zypp Electric, an EV startup for the delivery of 1 lakh e-scooters by 2024. This association is a part of Zomato’s plan to go completely electric by 2030. Earnings today: Bajaj Finance, Maruti Suzuki, HDFC Life, SBI Life, Union Bank of India, Indus Towers, Voltas, Biocon, L&amp;t Technology Services and Oracle Financial will report their March quarter and FY23 earnings today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-type-of-documents-require-for-the-return-filing-in-fy-2022-23/articleshow/99764857.cms">Your comprehensive document checklist for income tax return filing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-auto-q4-net-profit-falls-2-yoy-to-1433-crore/articleshow/99766398.cms">Bajaj Auto Q4 net profit falls 2% YoY to ₹1,433 crore</a>

Sensex, Nifty50 edge lower in morning trade as banking and metal stocks decline

Snapping two straight sessions of losses, domestic equity benchmark indices settled in the green on Thursday. Gains were led by upmove in Nifty oil &amp; gas, IT, metal, and media stocks. Also, a decline in global crude oil prices ahead of the Organization of the Petroleum Exporting Countries (OPEC) meeting also somewhat gave fuel to the market sentiments. Among the <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> stocks, Reliance Industries was the top gainer, rising 3.6 per cent from the previous close. On Thursday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">sensex</keyword> closed at 55,818 points, up 437 points or 0.8 per cent, whereas Nifty closed at 16,628 points, up 105 points or 0.6 per cent. "Nifty is expected to remain in a range while Bank Nifty may outperform. Traders are advised to apply a buy on decline strategy at the support zones. At current juncture, we are advising to be with selective stocks and one can look for buying opportunity in stocks like Reliance, Bajaj Finance, Voltas and HAL," said Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking &amp; Distribution at Motilal Oswal Financial Services. According to Vinod Nair, Head of Research at Geojit Financial Services: "The bounce in the market is showing signs of getting extended further supported by a mid and small-cap. High-frequency data like GST collection and PMI have shown a good start to FY23." Crude prices have declined providing an edge to the performance of the Indian market, said Nair, adding that, however, a lot will depend on the central bank's policy in India and the US, which will be announced in the next two weeks. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rakesh-jhunjhunwalas-delta-corp-stock-lost-more-than-a-third-of-its-value-in-two-months/articleshow/91957129.cms">Rakesh Jhunjhunwala’s gamble on this stock is proving to be a bust after it slips 20% in a month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambani-sets-sights-on-defence-showcases-made-in-india-software-for-aircraft-design/articleshow/91959787.cms">Mukesh Ambani sets sights on defence – showcases Made in India software for aircraft design</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/kotaks-superapp-kotak-cherry-for-investments-hopes-to-gain-one-million-users-by-end-of-the-year/articleshow/91962634.cms">Kotak’s superapp for investments hopes to gain one million users by end of the year</a>

RIL, Bajaj Finserv, Sun Pharma among top gainers today as indices settle in green

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

New Delhi, Feb 7 () Shares of Tata Group airconditioner maker Voltas Ltd on Friday rose by nearly 3 per cent after the company reported a 12.64 per cent increase in consolidated net profit in the third quarter ended December 2019. The scrip went up by 2.65 per cent to close at Rs 701.60 on the BSE. During the trade, it jumped 3.51 per cent to Rs 707.50. On the NSE, it gained 2.37 per cent to close at Rs 699.50. The company on Friday reported a 12.64 per cent increase in consolidated net profit at Rs 87.95 crore in the third quarter ended December 2019. The company had posted a consolidated net profit of Rs 78.08 crore in the same quarter last fiscal, Voltas said in a regulatory filing. Revenue from operations during the period under review stood at Rs 1,492.51 crore as against Rs 1,491.78 crore in the year-ago quarter, the company said. SUM RUJ

Voltas' shares gain nearly 3 pc after Q3 results

New Delhi, Feb 7 () Tata group airconditioner maker Voltas Ltd on Friday reported a 12.64 per cent increase in its consolidated net profit at Rs 87.95 crore in the third quarter ended December 2019. The company had posted a consolidated net profit of Rs 78.08 crore in the same quarter last fiscal, Voltas said in a regulatory filing. Revenue from operations during the period under review stood at Rs 1,492.51 crore as against Rs 1,491.78 crore in the year-ago quarter, the company said. Voltas said its revenue from unitary cooling products for comfort and commercial use segment increased 14 per cent at Rs 601 crore as compared to Rs 526 crore in the corresponding quarter last year. Air Coolers and other products also witnessed increased traction and healthy growth. The company's electro-mechanical projects and services segment had a revenue of Rs 808 crore as compared to Rs 875 crore in the year-ago quarter primarily due to slow pace of execution of projects. Carry forward order book of the segment was higher at Rs 7,024 crore, including major orders booked in water projects as compared to Rs 4,994 crore in the corresponding quarter last year, Voltas said. Engineering products and services segment revenue remain unchanged at Rs 83 crore as compared to the previous year, the company added. RKL SHWSHW

Voltas Q3 net profit up 12.64% at Rs 87.95 cr

<img class="gwt-Image" src="/photo/48451559.cms" /> <keyword id="6354999" type="CITY" weightage="100" keywordseo="Voltas">Voltas</keyword> Ltd., an industrial infrastructure company, fell to 3 month lows after quarterly earnings disappointed on the back of lower sales. 
 
Voltas said its first quarter net profit held flat to 109.9 crore rupees compared with 110 crore rupees in the same quarter a year ago. Sales during April-June fell 9 percent to 1,598.3 crores versus 1,757 crores. Both numbers fell substantially below estimates held by analysts. 
 
Profit included an extraordinary gain of 10.6 crore rupees. 
 
All three business divisions -- Electro mechanical projects and services, Engineering Products and Unitary Cooling -- recorded lower quarterly sales during April-June compared with the same quarter a year ago. 
 
As a consequence, Voltas dropped 18.40 rupees, or 6.1 percent, to 287.4 rupees, its lowest since May 29 on the National Stock Exchange. 
 
Voltas market capitalisation has jumped 47 percent in one year to 10,000 crore rupees. 
 
Image credit: Indiatimes

Shares of Voltas fell to 3 month lows

NEW DELHI: As we inch closer to the Budget 2014, Dalal Street is abuzz with expectations of strong pro-growth reforms from Finance Minister Arun Jaitley. 
 
Given high expectations from the government, all attempts are expected to be made to present a comprehensive Union budget. However, the residual period until the next Budget to be presented is relatively small. 
 
Experts feel that the focus of the new government would be more on creating opportunities for retail investors in financial markets. But it is definitely not going to be a cakewalk for them. 
 
“The budget itself is not going to be a cakewalk. In fact, it is going to be a tight rope walk for the government,” said Killol Pandya, Senior Fund Manager-Debt, LIC Nomura MF. 
 
“The economy has certain structural and macro issues which it is facing and the government will be at pains to balance putting our growth story back on track while battling the inflation bugbear,” he added. 
 
The fact is that most of the steps which the government can take to promote growth and kick start the economy will have short-term inflationary ramifications. However, in terms of market performance, analysts see the markets rallying nearly 5-6 per cent in the run-up to the event. 
 
 
 
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Traders carried forward bullish futures bets to the July series on the expiry of the June contracts on Monday on expectations the market could rebound in the run-up to the Union Budget on July 10. 
 
Fresh build-up of positions in Nifty options suggests the benchmark index could gain about 5-6% by the Budget day from the current levels, said an ET report. 
 
Most analysts are of the view that despite escalating tensions in Iraq and depreciating rupee, Indian markets should be able to scale higher from the current levels, supported by strong FII flows and as most of the oil, which is imported, comes from the southern region, which remains unaffected. 
 
“The overweight by international investors in India will be highest in the whole emerging market space and we think it will continue. We think there is a re-rating going on in India,” said Hans Goetti, Head of Investment Asia, BIL. 
 
“We think if there is a new earning cycle start on the back of a stronger economy, then it can grow at about 6.5 per cent for several years, accompanied by higher prices in the equity markets,” he added. 
 
History suggests that the Union Budget’s influence on the market’s short-term performance is declining, but the next budget could still leave a trail of impact. 
 
The upcoming budget could be important because of where India is placed cyclically, what the mandate for the government implies and because this is the first non-Congress government in a decade, say experts. 
 
“Though history suggests that the budget’s influence on short-term performance is declining, expectations (measured by pre-budget performance) are still important in deciding what the market does after the budget,” said Ridham Desai, India Strategist at Morgan Stanley, in a report. 
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“If the pre-budget returns are positive, there is a 90% chance that the post-budget returns are negative,” he added. 
 
We have collated a list of ten stocks which investors can look at ‘buying’ ahead of the Budget 2014, for the next 12 months: 
 
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	Brokerage Firm: BofA-ML 
 
 
Titan Company Ltd: Target price set at Rs 406 
 <keyword id="10899" type="CITY" weightage="40" keywordseo="Titan-Industries">Titan Industries</keyword>, a Tata Group company, is India’s leading watch and jewelry retailer. Titan’s growth can pick up in FY15/16E as SSSG in jewelry bottoms out. This can be led by a favorable macro: easing inflation, possible pick-up in the urban job scenario and wage hikes. 
 While resumption of the sale of <keyword id="18712" type="ENTERTAINMENT" weightage="40" keywordseo="Gold">gold</keyword> coins can improve operating leverage, possible margin benefits due to focus on premiumization in jewelry as well as watches can boost earnings. 
 
ICICI Bank Ltd: Target price set at Rs 1,850 
 
The global investment bank is bullish on ICICI Bank as it has built a strong retail franchise to complement its corporate banking activities and capitalize on the fast-growing retail market. ICICI Bank has expanded distribution to 3,500 branches, allowing it to acquire customers at a very rapid pace and also gain share. 
 
The bank enjoys a strong capital position (Tier 1 at 12.8%), and is well placed to manage credit cycle/regulatory changes and deliver earnings growth of 16-22% through FY15/16. Outperformance should be driven by: 1) Op. efficiency (CI ratio improving to lesser than 38-39% in FY15/16 vs 41% in FY13); and 2) Credit cost at 80bps. 
 
Maruti Suzuki Ltd: Target price set at Rs 2900 
 Maruti Suzuki (MSIL) is a subsidiary of <keyword id="111052" type="CITY" weightage="40" keywordseo="Suzuki-Motor">Suzuki Motor</keyword> Corp, Japan. Set up in 1983, MSIL is presently India’s largest passenger car company which primarily sells compact hatchbacks (65% of volumes), vans and upper sedans. 
 
MSIL is our top pick in the Indian autos space, being best positioned to ride the country’s consumption recovery theme due to its rich product pipeline over the next three years. 
 
The stock deserves a valuation premium due to superior growth prospects (31% EPS CAGR over the forecast period) and also because it is the sole listed proxy in the domestic car industry. 
 
<keyword id="111992" type="CITY" weightage="40" keywordseo="Oil-India-Ltd">Oil India Ltd</keyword>: Target price set at Rs 694 
 
Oil India (OIL) is a state-owned (67.6% stake) E&amp;P company with only onshore production and exploration mainly in north-east India. This region accounts for its entire crude oil and most of its gas production and reserves. 
 
Gas price hike drives a 41-59% YoY rise in FY15E EPS at a gas price of US$6.8-9.0/mmbtu. A rise in oil price net of subsidy drives 34-70% YoY growth in FY15E EPS. FY15E EPS would rise by 60-114% YoY if the prices of both oil &amp; gas increase. 
 
Risk-reward ratio is evenly balanced with the worst-case fair value implying around 30% potential downside, and the best-case fair value implying a potential upside of 16-39%. 
 
Voltas Ltd: Target price set at Rs 282 
 
Voltas, a Tata Group company, is India’s leading air conditioning and engineering services company. It operates in India through an extensive dealer and service network. Cyclical recovery in macro will drive stronger consumer discretionary sales, ie AC. 
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There will better construction demand as well. Sharp expansion of margin led by favourable product mix change will be drive 80% of the 27% earnings CAGR in FY14-17. The stock is cheaper relative to peers and is likely to rerate along with stronger growth. 
 
Analyst: S Ranganathan of LKP 
 
Dishman Pharma: Target price set at Rs 160 
 
Dishman Pharma is an integrated global outsourcing partner in CRAMS for innovator drug companies and derives close to 65 percent of its 1400cr revenues from CRAMS with marketable molecules forming the balance 35 percent of its revenues. 
 
With all its capital expenditure behind, the company has forward integrated its Vitamin-D facility and with a 24 percent sustainable EBIDTA margin we believe that it is now focused on de-leveraging its balance sheet having a debt of 850 cr. 
 
We recommend a BUY on the stock trading at 8x the current year's expected earnings with a price objective of 160. 
 
Zensar Technologies Ltd: Target price set at Rs 500 
 
Zensar Technologies is a Rs 2300-cr software company of the RPG group, which derives two-third of its revenues from ETS (enterprise transmission solutions) and one-third of its revenues from IM (infrastructure management). Zensar has the largest Oracle practice business in India and has a strong focus on digital transformation, which is primarily a consulting-oriented business. 
 
The company has consistently grown at a CAGR of more than 20 percent over the past 5 years both on top-line and bottom-line. Zensar (a debt-free entity) with a sustainable EBIDTA margin of more than 30 percent is well on its way to post a net profit of close to Rs 300 cr this fiscal. BUY with a price objective of Rs 500. 
 
ITNL: Target price set at Rs 250 
 
ILFS Transportation Network Ltd is a leading surface transportation infrastructure company belonging to the ILFS group. We believe that ITNL is the best proxy to play this theme not only in India, but also outside India and could be a prime beneficiary of the road development projects. 
 
This business is highly capital intensive and hence the high debt equity of 3x. ITNL with its 6500cr revenues is well placed to capitalize on the large addressable opportunity as it has attractive EBIDTA margins of 30 percent. Buy ITNL with a price objective of Rs 250. 
 
Escorts Ltd: Target price set at Rs 160 
 
Escorts with business interests in agricultural equipment, construction and railway equipment is the third largest player in tractors and is now launching new products in the mid to heavy segment of tractors and is aggressively foraying into the southern parts of the country where it lacks presence. 
 
The monsoon, although delayed, is expected to gather momentum in the next 3 months, which would also act as a positive trigger for the stock in the coming quarter. ESCORTS trading at 6.5x historical earnings should be bought with a price objective of 160. 
 
Federal Bank: Target price set at Rs 160 
 
Federal Bank was punished rather unjustly for its aggressive lending to the SME sector where it has seen fast traction and we believe that the markets have now factoring in the fact that its asset quality continues to be good with net NPA at 0.74% and provision coverage at a very healthy 84%. 
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The bank has a very healthy CASA of more than 30% and net interest margins are at a healthy 3.3% with branch expansion happening at a faster clip ( it now has 1175 branches) 
 
A quality private sector bank with an able leader available at a compelling price to book of 1.5x should be bought for a price objective of Rs 160. 
 
(Views and recommendations expressed in this section are the analysts’ own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)

Budget 2014 No Cakewalk For Government, Says Expert; Top Ten Stocks To Buy

<ul><li>The SGX <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was trading nearly a percent higher.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global market, Indian stock-market indices are likely to open lower on Friday. On Thursday, the Dow Jones Industrial Average fell 0.29% or 80.12 points, due to the newly-released US unemployment data. However, at 8:05 am, the SGX Nifty was trading nearly a percent higher. These are the <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword> to watch out for during the trading session on August 14: <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> Domestic steel major Tata Steel posted a consolidated net loss of ₹4,648.13 crore for the quarter ended June, mainly on account of reduced income. However, on a standalone basis, the company managed to maintain profitability despite a significant reduction in income. According to the filing, Tata Steel posted a standalone net profit of ₹1,193.27 crore in the quarter under review, down from ₹ 1,538.99 crore last year. The shares of Tata Steel ended flat yesterday. <keyword id="44555" type="CITY" weightage="20" keywordseo="BPCL">BPCL</keyword> Bharat Petroleum Corporation Ltd (BPCL), the highlight among the host of state-run companies put on the block by the government reported a 93% increase in its standalone net profit for the April-June quarter at ₹2,076.17 crore. The rise in profits was largely backed by a 43.22% fall in its total expenditure during the period under review to ₹48,284.06 crore. The shares of BPCL ended nearly 1% lower yesterday. <keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> The country’s largest two-wheeler maker Hero posted a 95.38% decline in consolidated net profit at ₹57.78 crore for the first quarter ended June 30, on account of lower sales due to the coronavirus pandemic. The total income during the quarter under review declined to ₹3,119.22 crore as compared with ₹8,410.41 crore in the year-ago period. The shares of Hero ended nearly 2% lower yesterday. <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> Eicher Motors arm VECV acquired Volvo Group’s bus business in India for ₹100.5 crore. Definitive agreements have been signed for the integration of Volvo Bus India (VBI) business into VECV, Eicher Motors said in a statement. The company also reported a consolidated net loss of ₹55 crore for the first quarter ended June 30, with sales adversely hit due to COVID-19 pandemic. The shares of Eicher ended over 2% lower yesterday. Bank of India The board of the Bank of India has approved raising up to ₹8,000 crore by preferential issue, QIP, further public offer, etc. The shares of BoI ended over 1% lower yesterday. Jindal Steel and Power Jindal Steel and Power Ltd (JSPL) has started supplying head hardened (HH) rail to Rail Vikas Nigam Ltd (RVNL) for the Kolkata Metro’s Joka-Esplanade corridor. HH rails are used in high-speed freight corridors and metro rail projects. In a statement, JSPL said the company was selected by RVNL after a bidding process to supply 3,000 tonnes of HH rails for Kolkata metro rail tracks. The shares of JSPL ended nearly 2% higher yesterday. SpiceJet and IndiGo SpiceJet's passenger load factor in July was at 70% up from 68% in June. However, the market share declined from 16.8% in June to 15.7% in July. Similarly, IndiGo's passenger load factor in July was almost flat at 60.2%. However, its market share in July was up at 60.4% compared to 52.8% in June. The shares of SpiceJet and IndiGo ended over 2% and 12% higher, respectively, yesterday. Hindalco, Berger Paints, Glenmark Pharmaceuticals, Voltas These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/eicher-motors-registers-first-ever-net-loss-of-55-crores-in-at-least-a-decade/articleshow/77526012.cms" data-type="tilCustomLink">Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade</a> <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms" data-type="tilCustomLink">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a>

Top stocks to watch today—IndiGo, SpiceJet, Hero MotoCorp, BPCL, Tata Steel, Glenmark Pharma and others

<img class="gwt-Image" src="/photo/53204890.cms" />Samson David, who was handling <a href="http://www1.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys’</a> <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword> (AI) platform <a href="http://www1.businessinsider.in/searchresult.cms?query=mana&amp;sortorder=effectivedate">Mana</a>, has resigned, becoming the fifth person to put in papers after chief <a href="http://www1.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal Sikka</a> took over the company’s reins. 
 David’s exit will come as a jolt to <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword>, which plans to turn around fortunes on AI and automation. 
 
David was appointed as Infosys’ IT infra chief by Sikka. In the past two years, many top executives including former CFO Rajiv Bansal, current L&amp;T Infotech CEO Sanjay Jalona, former EdgeVerve head Michael Reh have called it quits. 
 
David is likely to join <a href="http://www1.businessinsider.in/searchresult.cms?query=Hewlett+Packard+&amp;sortorder=effectivedate">Hewlett Packard Enterprise</a> (HPE) as the head of its enterprise services delivery business and report to HPE's global enterprise and outsourcing chief Mike Nefkens. 
 
David has worked with Voltas Ltd and was associated with Infosys since 1992 which he had joined as a trainee software engineer.

Infosys’ AI plans just suffered a setback due to exit of a key person

<img class="gwt-Image" src="/photo/49549166.cms" /> 
Major benchmarks remained under pressure for the second day on Tuesday as traders concentrated their energies on companies that reported disappointing earnings for the second quarter. Here is a snapshot of the derivatives space where the last week of the monthly expiry of contracts is underway. 
 
BENCHMARK INDEX FUTURES 
Nifty Futures dropped 23 points to 8,240 
CNX IT Futures fell 11 points to 11,575 
Bank Nifty slipped 6 points to 17,813 
 
TOP PRICE GAINERS 
UPL Ltd 
Syndicate Bank 
IRB Infra 
 
TOP PRICE LOSERS 
Voltas 
ONGC 
SAIL 
 
TOP OI GAINERS 
Titan 
IGL 
Tata Communications 
 
TOP OI LOSERS 
Mcleod Russel 
South Indian Bank 
 
TOP TRADED FUTURES 
HDFC Bank 
Larsen &amp; Toubro 
State Bank of India 
 
TOP TRADED CALLS 
Reliance 960 Oct 
Larsen 1,550 Oct 
Maruti 4,600 Oct 
 
TOP TRADED PUTS 
Lupin 2,000 Oct 
Reliance 940 Oct 
Axis Bank 510 Oct 
 
TOP VOLUME BUZZERS 
BF Utilities 
Usha Martin 
Rane Engine Valve 
 
ADVANCE-DECLINE RATIOS 
NIFTY: 17/32 
SENSEX: 7/23 
FUTURES: 83/81 
BROADER MARKETS: 929/1,282 
 
Image credit: Indiatimes

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