Majesco: This software company’s stock which hit a lifetime high last week could be due for a pullback. It received its first broker recommendation and target price downgrade this month, after 8 consecutive ‘Buy’ ratings between November 2019 to August 2020, it also has an average broker downside of 23.8% against its current price.
V-Mart Retail: This retail company’s promoter group recently created a pledge using 25,000 shares of the company, at an average price of Rs. 2,136 per share, valuing the pledge at Rs. 5.3 crores. Since June, this promoter group has disposed of over 1.3 lakh shares in the company, valued at Rs. 24.2 crores, via market sales.
Ion Exchange: This water treatment company in which Rakesh Jhunjhunwala holds a 3.9% stake has seen Sunil Singhania’s Abakkus Fund acquire 2.4 lakh shares taking a 1.7% stake in the company during the quarter ended September. The company also saw its FII holding drop from 1.8% to 0.8% during the quarter, its lowest FII holding since June 2019.
Tata Communications: This telecommunications company’s CFO and KMP Pratibha Advani resigned with immediate effect. The company has appointed Kabir Ahmed, former CFO of Microsoft India in her position.
Indian Energy Exchange: This power trading exchange’s mutual fund holding has increased for the 4th quarter in a row, up from 7.1% in September 2019 to 18.2% in September 2020. On the other hand, its FII holding has dropped from 32% in March 2020, to 30.2% in September.
HFCL: The largest promoter group of this fiber optic cable manufacturing company, holding a 19.1% stake, reacquired 30 lakh shares in the company via two market purchases earlier this week. The same promoter reacquired 2.6 crore shares last month and saw its 3.3 crore shares revoked in July.
Jamna Auto Industries: This automotive company’s MD and CEO, holding a 5.7% stake in the company, recently created a pledge using over 72,500 shares of the company, valued at Rs. 31.8 lakhs. Last month also he created a pledge using 1.5 lakh shares of the company, valuing the pledge at Rs. 74.1 lakhs. Between the two pledge creations, he acquired 3 lakh shares via two market purchases.
1. Shree Cements: This cement manufacturing company is not in the good books of brokers. It received 8 ‘Sell’ signals in 2020, from brokerages like Nirmal Bang, HDFC Securities, and Geojit BNP Paribas, and 4 analyst downgrades in the last 6 months. This is not indicative of the larger cement manufacturing space, as Amubja Cements and JK Cement each hit their 52-week high last week.
2. Sasken Technologies: This technology company’s current day delivery volume (51.8%) is significantly higher than its weekly delivery average (31.8%), monthly delivery average (23.4%), and 6-month delivery average (30.6%), while its price has shot up by 28.3% in the past month.
3. Zee Entertainment Enterprises: This broadcasting company’s stakeholder, the Government of Singapore, and the Monetary Authority of Singapore which collectively hold an 8.7% stake in the company have decreased their holding by 0.4% selling 41.8 lakh shares via a market sale. Back in August, they sold 93.3 lakh shares, a 0.9% stake via another market sale. Last week, the company’s independent director was fined Rs. 8.2 lakhs for violation of insider trading norms.
4. Aurobindo Pharma: The promoter group of this pharmaceutical company which holds a 33.5% stake, has recently created a pledge of over 30.1 lakh shares at an average price of Rs. 828.9 per share, valuing the pledge at Rs. 249.9 crores.
5. Bandhan Bank: This 6th largest bank in the country has seen a major change in its shareholding between quarters. Its mutual fund holding jumped from 1.7% to 4.9%, its FII holding more than doubled from 14.5% to 32.2% while the promoter holding dropped from 61% to 40% in Q2FY21.
APL Apollo Tubes: This steel pipes manufacturer’s promoter, which holds a 35.8% majority stake in the company created a pledge using 76,000 of its shares, valuing the pledge at Rs. 18.3 crores. Prior to this, from the company’s June 2020 shareholding data, no amount of shares were pledged.
Rain Industries: Mohnish Pabrai’s investment fund has increased its stake in this metals manufacturer by 0.5%. The Pabrai Investment Funds now holds 2.9 crore shares or an 8.7% stake in the company. Dolly Khanna has also upped her stake in the company to 1.6%, holding 56.2 lakh shares. The company’s domestic institutional investment holding (DII) has more than doubled from Q1FY21 to Q2FY21 from 1% to 2.2%.
Thyrocare Technologies: This diagnostic chain operator’s price has shot up by 29% in the past week to its lifetime high, but with a current PE of 84.8 against an average PE of 42.7 it’s firmly in the sell-zone. Broker reports point to an average downside of 67.4% against its current price.
TeamLease Services: This online job portal company has seen a big jump in its delivery volume. On October 7, the company’s delivery volume stood at 90.1% of its total traded volume, significantly higher than its average for the rest of the week at 33.1%, monthly average at 65.6%, and 6-month average at 65.4%.
NCL Industries: The promoter group of this cement manufacturing company has been increasingly repurchasing its equity via market purchases. Just in the first three days of this week over 50,000 shares have been repurchased. Last month, over 6.1 lakh shares were reacquired in 73 separate insider trades.
Hatsun Agro Products: This dairy company’s board has accepted the resignationof its managing director R.G. Chandramogan. He will step down on 19 October following the company’s board meeting. The company’s stock has been rising over the past few months and is only 3% off its 52-week high and 6% off its lifetime high.
Resonance Specialities: This chemical manufacturing company’s promoter group has been increasingly disposing off its holdings. Since the beginning of the month over 65.3 lakh shares have been sold, worth Rs. 27.9 crores.
IPCA Laboratories: This pharmaceutical company is exceeding broker expectations but could be due for a pullback. With 20 reports in the past year, of which 18 have a ‘Buy’ rating from brokerages like Sharekhan, Motilal Oswal, and ICICI Securities the average broker target is a downside of 12.8% against its current price.
Meghmani Organics: This chemical manufacturing company has seen its current day’s delivery volume (40.8%) higher than its weekly average delivery (30.3%), its monthly average delivery (32.2%), and its 6-month average delivery (31.5%). Is share price increased by 132% in the past 6 months.
Glenmark Pharma: HSBC Global Asset Management bought 204,615 shares in this pharma company via a market purchase.
GMM Pfaudler: This glass-lined equipment manufacturer lost 38% via a discounted OFS last week. However, during the recent investor call, the management stated that there is “misrepresentation of information” going on in the market. MD Tarak Patel clarified that private equity partner DBAG will hold 32% and the GMM family will hold 22%, this stake will be locked in for 3 years, after which the latter will look to increase stake close to 30%.
Dilip Builldcon: This small-cap engineering company has seen 14 broker reports published in the past year from brokerages like Nirmal Bang, HDFC Securities, Geojit BNP Paribas, with an average broker rating of 5, and a 52.4% upside against its current price.
Berger Paints: This paint company, runner up in the furnishing paints industry, recently hit its lifetime high. The market leader Asian Paints, hit its lifetime high two weeks ago and has since dropped by 5.4%. At that time Asian Paints’ PE was 85.9, Berger’s PE is much higher at 112.7 against an average PE of 57.6, placing it firmly in the sell zone.
The Ramco Cements: The promoter group of this cement manufacturer, under the Ramco Group, pledged over 6 lakh shares in the company at an average price of Rs. 745.5 per share valuing the pledge at Rs. 45 crores.
Dixon Technologies: Vanguard Fund buys additional shares in this company via a bulk deal. This is the second large bulk deal purchase by Vanguard in Dixon in September.
Zenstar Technologies: This software company’s stock price has surged by 21% in the past two weeks, reaching its highest point in 2020, and is now only 7.8% away from its 52-week high.
Ashoka Buildcon: This construction engineering company which bagged two orders from the NHAI earlier in the month is the stock pick among brokerages. With 16 reports published in the last year from ICICI Securities, Nirmal Bang, and Motilal Oswal giving either a ‘Buy’ or ‘Hold’ rating, the average broker upside against its current price is 75%
|Hitesh Ramji Javeri||50|
|Dheeraj Kumar Lohia||45|
|Globe Capital Market Ltd||42|
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|UTI - Mid Cap Fund - Reg - G||1.36%||3.11%||14.48%|
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