- 4 rounds of 5G auction complete on day 1
- Credit Suisse initiates coverage on Nykaa with underperform
- Defense stocks in focus on government’s arms procurement approval
Let’s talk about a few stocks that are in focus today.
1 – 5G SPECTRUM AUCTION
2 – PETRONET LNG
Citi has downgraded Petronet LNG to sell, with a target of ₹210/share, as they claim that the LNG demand outlook remains muted. Q2 is a seasonally strong quarter for PLNG & could provide some stock support.
3 – UNITED SPIRITS
United Spirits Q1 net sales at ₹2169 Cr vs ₹1615 Cr, up 34%. PAT at ₹210 Cr vs ₹69 Cr, up 204%. Reported EBITDA at ₹274 Cr vs ₹168 Cr up 63%.
4 – NYKAA
Credit Suisse has initiated coverage on Nykaa with underperform, with a target of ₹1100/share. They claim that there is too much optimism priced in and Nykaa has built a dominant position in the online beauty segment.
5 – HDFC LIFE & YES BANK
HDFC Bank will consider a fundraise via equity on July 29. Yes Bank will also hold a board meet on July 29 to consider fundraise.
6 – KEI INDS
KEI Q1 Revenue at ₹1565 cr vs ₹1017 cr, up 54%. Net Profit at ₹104 cr vs ₹67 cr, up 55%. EBITDA at ₹159.2 cr vs ₹113.4 cr, up 40%.
7 – SIS
SIS Q1 revenue is up 12.6% at ₹2678 cr vs ₹2379 cr, but EBITDA is flat at ₹121 Cr. The company has seen strong growth in the India security solutions segment. Margins have been impacted by the international security solutions segment.
8 – DEFENCE STOCKS IN FOCUS
9 – ZOMATO
Moore Strategic sold 4.25 Cr Shares At ₹44/Share. Credit Suisse maintains outperform on Zomato with a target of ₹90. Jefferies retains buy on the stock with a target of ₹100.
10 – SANSERA ENGG
Sansera Engineering has dropped a business contract from a leading North American OEM for the development, manufacturing, and supply of connecting rods. Therefore, the contract stands withdrawn.