StoxBox - BP Wealth Broker Research reports

The pattern analysis on the weekly timeframe shows that the price action has entered into its stage 2 following a brief consolidation phase. The lateral trend following a 71% decline is a potential sign of accumulation and an indication that the drawdowns were finally arrested.

In Q1FY24, Carysil Ltd. reported a revenue decline of 2.7% QoQ / 17.3% YoY to Rs. 171.3 crores in Q1FY24 owing to lower production and sales due to SAP implementation in April 2023, thus missing market expectations of Rs. 160.2 crores. On a sequential basis, the GP and EBITDA margins improved 176 bps / 38 bps to 49.9% and 18.4%, respectively, with the normalization in freight and other input costs of the business which outweighed an uptick in employee expenses.

Shree Digvijay Cement Company Ltd. stands strong for the past seven decades, carving out the long proud legacy of building the nation by manufacturing superior quality cement. Today, it is one of the most experienced cement-producing companies in India.

Marksans Pharma has entered into a Business Transfer Agreement with Tevapharm to acquire its business relating to the manufacture and supply of bulk pharmaceutical formulations in Goa. The company plans to manufacture tablets, hard and soft gel capsules, ointments, gummies, and creams from the new capacity.

CCL Products (India) Ltd. (CCLP) registered a 28.6% YoY revenue growth to Rs. 654.9 crores in Q1FY24, surpassing market expectations of Rs. 580.1 crores, led by the company maintaining its volume-driven growth trajectory in the 18-20% range with additional volumes driven by the Vietnam plant.

Devyani International (DIL) has demonstrated strong growth momentum and has crossed significant milestones in terms of revenue of Rs. 3,000 crores backed by store additions across brands and continued healthy performance from its existing stores.

The total tractor industry volume, domestic and exports, in FY23 went up by 10.2% to 10.7 lakh units compared to 9.7 lakh units in FY22. This is a new record for the tractor industry, beating the last peak of 9.88 lakh units in FY21. The domestic tractor industry went up by 12.2% to a record 9.45 lakh units in FY23 compared to 8.4 lakh units in FY22.

PKH Ventures are in the business of Construction & Development, Hospitality and Management Ser- vices. The company’s businesses generate income from diverse activities completely independent of each other.

Torrent Pharma reported a revenue growth of 16.9% YoY / flat QoQ to Rs. 24,910 mn and was marginally above market expectations of Rs. 24,320 mn. Domestic revenue grew 21.6% YoY, aided by strong performance of new launches in chronic therapies and integration of Curatio.

CUBK earned Net Interest Income of Rs.514.3 crores for Q4FY23 as against Rs.500.7 crores in Q4FY22. For FY23, the NII increased by 13% and stood at Rs. 2,163.0 crores as against Rs. 1,916.0 crores for the last financial year. The bank’s NIM declined to 3.65% in Q4FY23 from 3.88% in Q3FY23 and 4.01% in Q4FY22.

PNB HFL has a well-diversified funding profile comprising funding from banks, NHB, non-convertible debentures (NCDs) & bonds, deposits and external commercial borrowings (ECBs). The recent successful completion of the rights issue in May 2023 of Rs. 2,493.76 crores, with around 1.21 times subscription, will help the company to reduce its managed gearing further and support future growth while maintaining prudent capitalisation.

The index opened the week on an optimistic note and continued its upward momentum to end the week at multi-month highs. The strong up move has led the index to surpass 78.6% retracement levels and its previous swing high of 18450. Going ahead, till the index manages to sustain above 18450, the index is expected to continue to scale higher towards 18630-18750.