Category
📺
TVTranscript
00:00:00 indexes also up and about. I reckon at this point in time there's just a little bit of slackness
00:00:05 when it comes to the benchmarks that is the Sensex and the Nifty. But let's pull up the heat map and
00:00:10 take a look at where we are seeing that pull and push as far as the benchmark is concerned. Remember
00:00:15 early in the morning the breadth was well in favor of advances. In fact we just had two stocks which
00:00:22 are declining and suddenly we have a change of heart for the benchmarks and now we have about 20
00:00:28 gainers and 30 losers as you can see on your screen here. And we do have a little more weakness
00:00:34 starting to come in as far as a handful of your IT names are concerned. So Wipro, TCS, HCL
00:00:41 technologies weighing on the benchmarks along with of course Hindustan Unilever which has lost out
00:00:46 quite a bit over the course of the last few well I would say last couple of hours. On the gaining
00:00:53 end of course we are looking at strength return to Kohitak Mandir Bank that's up around two and a half percent.
00:00:59 Coal India as well are advancing and a handful of Adani Group companies also supporting the markets
00:01:05 at the moment. Not too much to speak for otherwise but the breadth has certainly changed for the
00:01:10 worst. That's as far as the Nifty is concerned. Well we're going to continue to keep an eye on
00:01:16 well a whole host of these factors and as far as the Nifty goes we're going to continue to keep an
00:01:21 eye on the 21,600 mark to see where that goes. But this is as far as your benchmarks go. Harsh, what
00:01:30 are you tracking? Yeah absolutely let's quickly have a look at some of the stocks which are buzzing
00:01:34 in trade and you know let me first start off with Fortis Health. There was a surge conducted on the
00:01:40 premises due to which the stock is currently languishing around a percent and a half down
00:01:46 in trade. You're looking at HFCL which is up roughly 11 percent. Order win 620 odd crore new order.
00:01:52 You also have Rites buzzing very similar new order coming through for Rites as well. It's up 16
00:01:59 percent in trade. So some of those really buzzing on the back of news. NHPC you know NHPC is
00:02:05 doing well in trade today 11 percent higher. Yesterday too it's done fairly well of course
00:02:11 day before yesterday was the OFS government selling out and that one's been in the news since.
00:02:16 You're seeing the likes of a Ricoh Auto transfer of technology to DRDO and that one is buzzing
00:02:22 in trade today as well. If we can have Ricoh Auto and SIS. SIS is in fact trading higher on the back
00:02:30 of that Ayodhya win that's come through for the company. In terms of earnings you have the likes
00:02:36 of an HUL, Kotak, ICICI all of which will be or is already the newsmaker. HUL down three and a half
00:02:43 on the back of numbers. Kotak Mahindra up 3 percent and ICICI buzzing numbers still to come out. Let's
00:02:49 look at also an RBL, a Suntech, Tejas Networks. RBL of course doing well in trade but otherwise
00:02:57 Suntech muted and Tejas Networks down as we speak. Union Bank and IDBI also came out with numbers
00:03:03 along with it. If we can have IREDA as well doing phenomenally well in trade that one as well.
00:03:09 Numbers come out for IREDA as well so 10 percent higher. You're looking at a whole hog of railway
00:03:15 stocks doing very very well in trade. Anything from an IRFC, IRCON, Texmaco, Teetagad all of which
00:03:22 are doing excellently well in trade today. Of course we are in the run-up to the budget and
00:03:27 some of those are the movers on the back of that. Agam. Well, thanks so much for that Harsha.
00:03:34 Well, railway stocks particularly are buzzing and well they're going from strength to strength,
00:03:39 aren't they? There is no stopping their up move at least at the moment and if you're looking to short
00:03:44 well it will be at your own peril. For now of course RVN has locked in upper circuit of around
00:03:50 10 percent. IRCTC advancing by as much as 6 percent. Put on IRCON. IRCON is the other one
00:03:56 which has seen a huge up move. You know at least as far as some of your bigger movers concerned
00:04:02 there you go that's about 17 percent up move there as well and IRFC is the other one which has in
00:04:09 fact doubled in a span of just a week. IRFC is again locked in the upper circuit of around 10
00:04:14 and well just a week ago it was trending well below the mark of 100 at 176 as we speak so
00:04:21 there's no letting up on this one either. Well, this is as far as the markets go. Let's get in
00:04:29 a few experts at the moment. We have Avinash Kodakshakar, Director of Research at Profit
00:04:34 Mass Securities who's joining us on the show. Avinash, good afternoon. Thanks so much for
00:04:39 taking the time out. Avinash, things and stocks like IRFC, IRCON, IRCTC, all railway related
00:04:47 stocks are seeing an unprecedented move. My question really is what is driving the stocks
00:04:53 so much higher? Is this just euphoria or is there some sort of a fundamental catch up there that's
00:05:00 at play as well? I think my guess is very clear that the markets are looking at the forthcoming
00:05:09 vote on account where possibly despite being a vote on account I think the government would be
00:05:14 spelling out very clear cut policies on the railway infrastructure kind of investment strategy.
00:05:21 I think already the Railway Minister Mr. Vaishnav has already clearly hinted that
00:05:24 the government is planning a massive infrastructure kind of budget program and that is driving all
00:05:30 these companies. If you look at RVNL, Texmacor Rail, if you look at rides, I think everything
00:05:36 connected with the railways and railway influx is going up. So I think definitely there's a sense
00:05:41 of little euphoria in the current prices. But I think markets are discounting that possibly another
00:05:47 2 lakh crores worth of infrastructure investments in railway would be announced in the vote on
00:05:51 account and once the new government comes in, these could completely be actually be finally
00:05:57 certified by the new government. So I think that is what is driving these stock prices quite in a
00:06:02 very sharp manner. My suggestion to investors is that there's no need to hurry. But yes,
00:06:07 considering the fact that there are limited choices available here, obviously anything
00:06:12 connected with railways and obviously with the sentiment factor largely aided because of the
00:06:18 22nd Jan Ram Mandir opening issue, the markets is definitely looking at some further upside in the
00:06:24 near term. I think markets have completely forgotten the SDFC Bank fiasco and I think
00:06:29 it's again back to normal markets. So I think clearly railway is now a well-known theme.
00:06:34 I would be quite positive on the sector in the longer term. But yes, in the short term,
00:06:39 again, I think these prices definitely seem to be slightly fair to expensive and I think
00:06:44 only on declines one could definitely generate reasonably risk reward going forward.
00:06:48 Right. Right. Avinash, stay with us. We want to talk about banks as well. And we have had the
00:06:56 earnings of Kotak Mandir Bank, which is of course a top gainer on the back of a stable set of
00:07:01 earnings coming in. What we really want to know is that how would you go about this one? Avinash,
00:07:07 specifically about Kotak Mandir Bank, the earnings don't seem too bad, but we must also remember that
00:07:13 it's not really done too much, at least in terms of returns, compared to maybe about three and a
00:07:19 half, four years ago. We really haven't seen anything at all from Kotak Mandir Bank. You know,
00:07:23 there's got to be something beyond just the leadership overhang. I think my guess is,
00:07:30 you know, despite the leadership overhang, I think in terms of the stock outperformance,
00:07:35 the last two years, you're absolutely right in saying that Kotak Bank has actually not delivered
00:07:40 any great return at all. So I think markets are looking at more stronger data points,
00:07:46 stronger management commentary. And obviously, you know, I mean, in the current scenario,
00:07:51 most of the analysts who are looking at banks are looking at the deposit growth
00:07:56 kind of trajectory. Any slowdown there, I think is definitely not a good sign. And I think
00:08:01 the kind of dream run which other banks had got in the last two years, I think Kotak Bank had
00:08:06 completely ignored this rally. So I think if numbers have been better, if the commentary
00:08:11 going forward is also going to be positive, I believe the call will be there very soon for
00:08:17 Kotak Bank. Whatever commentary comes out from the new management team and the kind of aggressive
00:08:22 growth lined up by them, both on the private sector funding as well as typically on fee-based
00:08:29 activities, because Kotak Bank has got a large investment banking unit, a broking unit,
00:08:34 an AMC unit. So I think the markets are quite positive on the fact that all these units are
00:08:38 now doing pretty well. And that could obviously, you know, collectively produce better numbers in
00:08:43 the coming year, that is FY25. So all of a sudden, the stock looks attractive from a long-term point
00:08:48 of view. But mind you, it's a slow mover. So you will have to exercise a lot of patience before
00:08:52 you see a decent risk reward. Understood, Avinash. And before I come with another question
00:08:58 on that count, let me quickly go across to Pragati, who is standing by, to talk about
00:09:04 two sets of earnings which have come out, both banking counters, Kotak as well as IDBI.
00:09:09 Pragati, talk to us about the key hits and misses in your view, because the Kotak stock has flown
00:09:15 away 2.5% higher. Right, Harsh, you are absolutely right. The reaction that we are seeing on Kotak
00:09:21 stock is definitely in response to a stable set of numbers that the lender has reported for the
00:09:26 third quarter. Now, the net profit is up 7.6%. While it has largely missed estimates, the asset
00:09:34 quality and the net interest margins have posted a relatively better picture as compared to other
00:09:40 banks' earnings that we have in front of us. Now, the net interest income or the core income of the
00:09:45 bank was up 16% and other income rose 17.8%. As I mentioned before, the asset quality for the
00:09:52 lender stayed flat, so definitely not worsened or improved, with GNPAs just like worsening by
00:09:58 one basis point, which is nothing much to worry about. The net interest margin has stayed flat
00:10:04 at 5.22% quarter on quarter. Now, that is something that we were waiting for in terms of numbers,
00:10:11 because for other banks that we are seeing, the margin compression is something that we have
00:10:15 witnessed. Now, provisions for the quarter, they have increased threefold to Rs.579 crore. Now,
00:10:22 that is a big jump and the bank has clarified that the provisions are up because it has provided for
00:10:26 Rs.190 crore against the alternate investment fund and Rs.65 crore against the securities.
00:10:33 So, that is a basic set of numbers for Kotak Mahindra Bank, stable numbers. But the interesting
00:10:39 bit here is that the media briefing for the bank will start very soon at 3.15 pm and the bank has
00:10:45 a new MD and CEO in Mr. Ashok Vaswani and it would be his first address as well. So, everyone is
00:10:51 looking forward to that, that is my understanding of this entire numbers. And another thing,
00:10:57 the management commentary on margins, loan growth, deposit growth and what trajectory they are
00:11:02 planning in terms of growth going ahead will be very important. Second, as you rightly mentioned,
00:11:06 IDPI Bank has also come up with its numbers. Again, largely stable, beating analyst estimates
00:11:12 once again. The net profit is up 57% year on year. Asset quality for the bank has improved. In fact,
00:11:18 gross NPAs are at 4.69%, net NPAs are 0.34%. Even the net interest income is up 17% year on year. So,
00:11:27 good set of numbers, nothing much to worry about. As we delve deeper into it,
00:11:31 we will bring you more updates when we can. Perfect. Thank you so much for that Pragati.
00:11:37 If I can go back to Avinash, Avinash we have had two major private sector banks. What I believe
00:11:44 in terms of their Q3 numbers, what I believe that they have in common is the fact that the
00:11:50 asset quality is something that they pride themselves in. Growth continues to come for both
00:11:56 of them. And valuations are at a bit of a differential. So, between an HDFC and a Kotak,
00:12:02 what would be your preferred pick or neither? Would it be a third one?
00:12:06 I think my sense is that looking at IDPI Bank numbers, I think this is one bank which has
00:12:14 surprised the entire analyst community. And I think numbers have been very robust. So,
00:12:19 I would prefer that unlike looking at say a Kotak bank or maybe a HDFC bank, in fact,
00:12:25 Kotak has delivered inline numbers. But numbers from IDPI Bank have been strikingly better
00:12:30 in terms of both the asset quality in terms of the loan book growth. So, I think IDPI Bank at
00:12:35 these levels looks attractive. My sense is that some news commentary on the decision to take in
00:12:41 a strategic investor which has been pending for long, if that commentary comes out very clearly
00:12:46 from the management, I think that would be a key rewriting trigger for the stock. So,
00:12:49 IDPI Bank would be more attractive from a medium to long term view. I think there's a lot of
00:12:55 steam left in the stock if one were to look at the next say 12 to 18 months. So, I think this stock
00:12:59 looks much better. I would not immediately try to buy in into either HDFC Bank or Kotak Bank,
00:13:05 because these are going to be largely market performers according to me.
00:13:08 Okay, stay with us, Avinash. What I'm getting, Amar Dev Singh, he's a head of advisory at Angel
00:13:14 One who's joining us on the show as well. Amar, good afternoon. Thanks for taking the time out.
00:13:19 I know that volumes have been thin today because of lack of institutional participation. Still,
00:13:25 what are you making of the benchmarks now? And where do we go from here? Where are we headed?
00:13:29 Yeah, I would say that, first of all, good afternoon and thanks for having me on the show.
00:13:35 So, looking at the benchmark indices, first I'll speak about Nifty. We are seeing a clear-cut
00:13:41 consolidation from a short-term perspective that is on the daily charts because that shows that
00:13:48 some of the technical indicators, they had been overbought and also some of the technical
00:13:53 indicators were in the overheated territory. And what we've been seeing is that higher levels
00:13:57 were being sold into. We also did see at times short build-up happening. And also, what we see
00:14:05 is that, however, the intermediate-term trend, the long-term trend continues to remain strong and
00:14:10 positive, despite the correction that we witnessed recently. The markets have resilience and the
00:14:17 markets are strongly supported. So, if I look at the crucial zone of support earlier around 21,400,
00:14:23 that's a zone of 21,400-500. That's an immediate zone of support for Nifty. If that's taken out,
00:14:29 then 21,300, that's a level to watch out for. Short-term trend definitely is a cause of concern
00:14:34 for the benchmark indices, specifically if I look at Nifty. Even if I look at Bank Nifty,
00:14:43 Bank Nifty is also, what is happening in Bank Nifty is that Bank Nifty has corrected and Bank
00:14:49 Nifty has taken support. So, from that perspective, it has got very strong support around the 45,400,
00:14:56 45,500 zone because on the weekly charts also, it has touched those levels. So, that tells me that
00:15:03 we could be in for consolidation or we could witness some range trading in the benchmark
00:15:08 indices. The crucial level to watch out for is 21,400 on Nifty and 45,400 on Bank Nifty.
00:15:15 Bank Nifty, the levels which the Bank Nifty had recently, that Bank Nifty has made, this week,
00:15:21 they should not be breached. If we see a breach of that, then we could see some significant
00:15:25 further correction in the indices. Okay, well, that's your view on the
00:15:29 benchmarks, at least from a technical standpoint, but we slip into a short break.
00:15:33 But on the other side, we talk a lot more in terms of stocks. Stay tuned.
00:15:36 Stay tuned.
00:15:38 Stay tuned.
00:15:40 Stay tuned.
00:15:42 Stay tuned.
00:15:44 Stay tuned.
00:15:46 Stay tuned.
00:15:48 Stay tuned.
00:15:50 Stay tuned.
00:15:52 Stay tuned.
00:15:54 Stay tuned.
00:15:56 Stay tuned.
00:15:58 Stay tuned.
00:16:00 (upbeat music)
00:16:03 (upbeat music)
00:16:05 (upbeat music)
00:16:08 (upbeat music)
00:16:11 (upbeat music)
00:16:18 (upbeat music)
00:16:24 (upbeat music)
00:16:30 (upbeat music)
00:16:36 (upbeat music)
00:16:38 (upbeat music)
00:16:45 (upbeat music)
00:16:51 (upbeat music)
00:16:58 (upbeat music)
00:17:06 (upbeat music)
00:17:09 (upbeat music)
00:17:15 (upbeat music)
00:17:21 (upbeat music)
00:17:26 (upbeat music)
00:17:33 (upbeat music)
00:17:36 (upbeat music)
00:17:41 (upbeat music)
00:17:48 (upbeat music)
00:17:55 (upbeat music)
00:18:02 (upbeat music)
00:18:04 (upbeat music)
00:18:21 (upbeat music)
00:18:29 (upbeat music)
00:18:32 - Welcome back, you're watching India Market Close
00:18:35 here on NDTV Profit.
00:18:37 You know, quite a few stocks buzzing in trade,
00:18:39 largely on the back of volumes as well,
00:18:41 but Anushi is here with that entire list of volume buzzers.
00:18:45 Anushi, take it away.
00:18:46 - Right, so I'll start off with SIS Limited,
00:18:48 which is buzzing with about 22 times its volumes
00:18:52 compared to the 30-day average
00:18:53 and the stock being about 19% up.
00:18:56 This is back on the news fluid
00:18:58 that the company is the official security provider
00:19:01 for the Ram Mandir in Ayodhya.
00:19:03 So that is for SIS Limited.
00:19:05 Now moving on to SEAT Limited,
00:19:07 the company has seen about a 16% uptick
00:19:09 in its stock price today,
00:19:10 as the company mentioned that it is now falling
00:19:13 into the steel radial tires for its two-wheelers.
00:19:15 Now next is Rides Limited declared a major order
00:19:21 for RIT Bhubaneswar, so has signed a MOU over there.
00:19:25 With this, the company's stock price
00:19:27 again surged about 19% with its volumes
00:19:29 buzzing about nine times its 30-day average.
00:19:32 Then Hindustan Food is also there in the buzz.
00:19:35 Not much of a stock impact here
00:19:36 compared to the other four,
00:19:37 like seen about a 5% gain.
00:19:40 The companies, if we look at the one-year return,
00:19:42 the company has a summary return
00:19:44 of about 4% downside return in one year.
00:19:47 And last on the list is the banking stock,
00:19:50 IDBI Bank, which is on the back of strong results.
00:19:53 The company's share prices rose about 9% today
00:19:56 with its volumes about 6.7 times its 30-day average.
00:20:00 So these are the stocks buzzing in volume for today.
00:20:04 - Right, thank you so much for that, Anushi.
00:20:06 I also want to flag off JK Cement,
00:20:09 because that stock is up around 2% odd,
00:20:13 Q3 numbers out for the company.
00:20:16 You can see that spike that you can see on the graph.
00:20:19 Revenue has gone up by around 21% year over year.
00:20:23 EBITDA is also higher by quite a bit.
00:20:26 It's at 625 crore versus the 250 crore number
00:20:29 same time last year.
00:20:30 So almost 150 odd percent higher versus last year.
00:20:35 You're looking at margins,
00:20:37 which have come in at 21.3% versus 10 odd percent
00:20:42 same time last year.
00:20:43 So almost 10 plus percent on the margin front as well.
00:20:46 And that's driving profitability higher.
00:20:48 283 crore is where that PAT number has come in at
00:20:52 versus the 37 crore number same time last year.
00:20:55 But it continues to be an earnings heavy week.
00:20:58 That's been the focus.
00:21:00 We had two big ones this week, HDFC Reliance,
00:21:04 the biggest of the lot.
00:21:06 And now we have ICICI.
00:21:08 You know, numbers expected to be out any time.
00:21:12 And let's try and break down what the expectations
00:21:16 are from ICICI.
00:21:18 So I'm gonna try and pull that out.
00:21:23 So ICICI, your profit is expected
00:21:25 just below the 10,000 crore number
00:21:28 versus the 8,300 odd crore number same time last year.
00:21:31 You're expecting net interest income
00:21:34 to be around that 18,000 crore mark
00:21:37 versus the 16,465 crore number.
00:21:40 So your margins will largely be protected.
00:21:42 You know, not much decline where the margins are concerned.
00:21:45 They'll stay above that 4% number.
00:21:47 Of course, you will see some amount of contraction,
00:21:50 but nothing significant is what our expectation
00:21:54 seems to indicate.
00:21:55 Your gross NPA ratio stood at 2.48%.
00:21:59 On 30th September, expected to be flat.
00:22:02 Net NPA too, expected to be largely flat.
00:22:06 What's gonna be important is the growth number here.
00:22:09 You know, you're expecting,
00:22:11 or you've seen good growth coming in from Kotak Agam.
00:22:15 And it'll be interesting to see
00:22:16 where ICICI puts its growth number at.
00:22:19 HDFC also has been quite good in terms of its growth number,
00:22:22 5% sequential on the balance sheet size that it has.
00:22:26 So it'll be interesting to see where ICICI piles up.
00:22:28 It's been largely, you know, in the late teens
00:22:33 where growth is concerned over the last couple of quarters.
00:22:35 So we've seen good growth coming in even from ICICI.
00:22:39 - Sure.
00:22:40 You know what is really interesting is if you just peg
00:22:43 ICICI bank and Axis Bank together
00:22:45 over the course of the last one year,
00:22:48 you see an ever slight out performance from Axis Bank.
00:22:52 And of course, ICICI on the other hand,
00:22:55 while it has advanced, you know,
00:22:56 it hasn't moved in tandem with Axis Bank,
00:23:00 whereas the expectations were largely similar,
00:23:03 if not the same.
00:23:04 But that's something that we continue to keep an eye on.
00:23:07 In any case, that's, there you have it.
00:23:10 That's your view.
00:23:12 Then those are returns for ICICI bank and Axis Bank.
00:23:14 As you can see, Axis Bank has a little bit of an edge
00:23:18 as compared to ICICI.
00:23:20 If we can actually pull this up and talk to Avinash
00:23:23 about ICICI bank as well.
00:23:25 And I know we've had a pretty lengthy conversation
00:23:28 around banks, but perhaps it could be the last bank
00:23:30 that we can in fact address with Avinash.
00:23:32 Avinash, your view on this one, ICICI bank,
00:23:36 and how are you placed on this?
00:23:38 - I think, Agam, as far as ICICI bank is concerned,
00:23:42 I think their margins would continue to be protected
00:23:45 because they have a large exposure on the retail side,
00:23:48 on the SME book side.
00:23:50 And I think most of the subsidiaries,
00:23:52 if you leave it out on the ICICI group,
00:23:54 I think most of their other subsidiaries
00:23:56 have also done well.
00:23:56 So I believe on a consolidated entity,
00:23:58 you know, profitability should be good.
00:24:00 I would be observing, you know,
00:24:02 what is the deposit growth rate number,
00:24:04 because that is going to be a key element.
00:24:06 And I think overall, what is the management commentary
00:24:08 on the growth outlook, on the loan book growth,
00:24:10 you know, for the coming year.
00:24:13 And most importantly, you know,
00:24:14 what is the kind of fee-based activity
00:24:16 which they're planning to do?
00:24:18 So I think all said and done,
00:24:19 I don't expect any major negative surprise.
00:24:23 Provisions, I think, would also be a number
00:24:24 where I would like to observe,
00:24:26 because after SDFC bank,
00:24:28 Kotak bank also reported a large spike
00:24:30 in its provision number.
00:24:31 So I think I like to look at the provision number,
00:24:34 the growth outlook in terms of the disbursements,
00:24:37 the deposits, and obviously, you know,
00:24:39 in terms of the new kind of,
00:24:41 any spoke for any margin kind of improvement.
00:24:44 I think that would be, you know, key data points,
00:24:46 possibly, which we would like to know
00:24:48 once the company does its con call,
00:24:51 and you know, the management shares its commentary,
00:24:53 you know, for the coming year.
00:24:54 - Okay, well, that's the word on ICICI bank,
00:25:02 but let's talk about two other stocks which are in focus.
00:25:06 We have Anushi once again with us,
00:25:08 and this time she's gonna uprise us off the updates
00:25:11 with respect to NBCC.
00:25:13 Anushi.
00:25:14 - Right, so now NBCC, if you look at it,
00:25:16 it's about 18% up today,
00:25:19 but what I want to focus in NBCC is not only just today,
00:25:23 it was, it's all about a 10% upside even yesterday.
00:25:26 So there was a large deal,
00:25:27 but about 0.14% equity did change hands,
00:25:31 but I want to shift your focus to the order wins
00:25:33 that the company has been posting
00:25:35 in this past month itself.
00:25:36 So we see about a five to six order wins
00:25:39 that cumulatively adds about 694 crore of orders
00:25:43 just in this month.
00:25:45 Now, if you look at the consolidated order book
00:25:47 that stood about 55,300 crore as of the October ending,
00:25:52 and it has secured about a new orders
00:25:54 worth rupees 7,000 crore in again, the October period.
00:25:58 So just onto the historical financial,
00:26:02 like the order trend over the years,
00:26:04 the company's order book did stand about 60,000 crore
00:26:07 in FY21, which then came down in the range
00:26:10 of 46 to 45,000 in the next two years,
00:26:13 while the order inflows remained at about 3,300 crores.
00:26:16 So now if we compare the order inflows over here,
00:26:18 that has almost doubled down in the October period
00:26:22 to about 7,000 crores now,
00:26:24 while the book to bill ratio is about 8.8 times
00:26:27 in the FY21 period,
00:26:29 that came down to about 5.2 in the FY23 period.
00:26:33 So now again, if we annualize the revenue
00:26:37 of the current year, that gives us the same book
00:26:41 to bill ratio that was there earlier,
00:26:43 which is in the range of 8.8 to 8.9X for FY24.
00:26:48 So that shows about quite some strong revenue visibility
00:26:52 on that front.
00:26:53 And even if you look at the revenue CAGR growth
00:26:55 of the company, that has been about 13%
00:26:58 in the period between FY21 to 23,
00:27:01 and the EPS growth has been about 10%
00:27:03 in the FY21 to FY23 period.
00:27:06 The stock has also seen about a 147% surge
00:27:09 in just this one year itself.
00:27:11 So that is on NBCC.
00:27:13 - Sure Anushi, but stay on,
00:27:14 also talk to us about HFCL.
00:27:16 I believe this one is on a large order win.
00:27:20 - Right, so again, HFCL's focus is also on the order win.
00:27:23 The stock did see about more than 12% upside today.
00:27:26 This was after it received a purchase order
00:27:29 worth Rs. 623 crore for supplying
00:27:32 5G telecom networking equipment,
00:27:35 which is to be executed within the December 24 end.
00:27:38 Now, apart from that, there was another big order win
00:27:42 for the company, the Jan month,
00:27:43 which was about 1100 crores of order win from BSNL
00:27:47 to be executed in a 18 month time frame.
00:27:50 Now again, the order book status for the company
00:27:52 stood at about 7,000 crore as of the Q2 FY24 end.
00:27:57 Apart from the order status,
00:27:58 the company had also raised about 350 odd crores
00:28:02 through a QIP route,
00:28:05 where it aimed to fund its Capex requirements
00:28:07 to expand its optical fiber capacity
00:28:11 and to repay its short term borrowings going forward.
00:28:14 Again, onto the stock performance of the company,
00:28:16 the company has seen about a 58% upside
00:28:19 in the course of one year.
00:28:21 So these are the two stocks.
00:28:22 - Sure, understood Anushi, thank you for that.
00:28:26 Now, before I focus in on some of these infrastock, Sagam,
00:28:30 I wanna quickly take Amar's view,
00:28:32 and Amar if you may,
00:28:33 you've had the likes of an HDFC bank disclose numbers,
00:28:37 Kotak also disclose, and ICICI expected too.
00:28:42 How are these three looking on charts?
00:28:44 Because you had a weak set from HDFC,
00:28:48 a good set from Kotak in my view,
00:28:50 and ICICI is still expected.
00:28:53 So how should one look at some of these frontline banks
00:28:55 at the moment on charts?
00:28:56 - Yeah, first I'll talk about Kotak Mahindra Bank.
00:29:00 So what we are seeing in Kotak is that
00:29:02 it's a complete consolidation from a long term perspective.
00:29:06 So the stock isn't really going anywhere.
00:29:08 It would be more of a range play
00:29:10 because if I look at the monthly charts,
00:29:12 or even if I look at the quarterly charts,
00:29:14 they really don't show any, I would say indication
00:29:18 that there is going to be a significant trend change
00:29:20 in the near future.
00:29:22 So Kotak is more of a range play,
00:29:24 and what we see is that the stock
00:29:25 has got very strong support base
00:29:28 around the 1700 zone, 17, 1750.
00:29:31 So it's a good stock for a trading perspective.
00:29:34 So 1700, 1750 is a very strong zone of support.
00:29:38 1900, 1950 is a very strong zone of resistance.
00:29:41 So ideally one can trade in the stock
00:29:44 keeping these levels in mind, 1700 and 1900.
00:29:47 Talking about the other stock, HDFC Bank.
00:29:51 What we are seeing in HDFC Bank,
00:29:53 again, HDFC Bank on the long term charts
00:29:55 I've spoken for quite long,
00:29:57 that it's not going anywhere.
00:29:58 It's clearly a lack of a trend on the long term charts,
00:30:02 and the stock did rally because if we go back and see,
00:30:06 so in the first week of November,
00:30:08 the stock was around 1470.
00:30:10 From there it rallied almost towards 1700 plus.
00:30:14 And then again, it has corrected post the results.
00:30:16 So what we see is that again,
00:30:18 it's approaching the levels of this 1450.
00:30:22 So 1450, 1460 is an immediate zone of support,
00:30:26 but the way the stock has cracked
00:30:28 and looking at the structure of the charts,
00:30:31 both from a short term perspective,
00:30:34 from a long term perspective,
00:30:35 I would say the stock is in for consolidation.
00:30:37 Ideally should not reach the 1450.
00:30:39 If that's reached, then the stock has the potential
00:30:42 to correct towards the 1400 levels.
00:30:44 And this again is a stock,
00:30:45 I would say not going anywhere in a hurry.
00:30:48 Talking about the third stock, ICICI Bank.
00:30:50 ICICI has got a slightly different structure
00:30:53 as compared to HDFC Bank.
00:30:56 It's positive on the intermediate term trend,
00:31:00 long term trend also is positive,
00:31:02 though we are seeing some consolidation.
00:31:04 But again, for ICICI, I would just give two levels.
00:31:07 On the upside, 1040, 1050, that is it.
00:31:11 If there is any major rally to happen in ICICI,
00:31:14 it has to trade over that levels,
00:31:15 which we are not seeing right now
00:31:18 that happening on the charts.
00:31:19 As far as on the downside,
00:31:22 downside around 950, 950, 960, that's a zone of support.
00:31:27 So all these frontline banking stocks
00:31:31 from the private space,
00:31:33 they are more of a consolidation,
00:31:34 which is happening, there's no trend per se.
00:31:37 ICICI Bank, however, looks better
00:31:39 as compared to the rest of the time.
00:31:41 - Sure, that's quite a comprehensive piece.
00:31:44 Thank you so much for that, Amar.
00:31:45 But it's time to slip into a very short break.
00:31:47 We are probably half an hour away from close.
00:31:50 Stay tuned, we'll get you the top
00:31:52 buy today, sell tomorrow ideas on the other side,
00:31:54 along with the FNOQs.
00:31:56 So stay tuned to "I Need to Be Profitable."
00:31:58 (upbeat music)
00:32:00, (upbeat music)
00:32:05, (upbeat music)
00:32:10 (upbeat music)
00:32:15 (upbeat music)
00:32:20 (upbeat music)
00:32:25 (upbeat music)
00:32:30 (upbeat music)
00:32:35 (upbeat music)
00:32:40 (upbeat music)
00:32:45 (upbeat music)
00:32:50 (upbeat music)
00:32:55 (upbeat music)
00:33:00 (upbeat music)
00:33:05 (upbeat music)
00:33:10 (upbeat music)
00:33:15 (upbeat music)
00:33:20 (upbeat music)
00:33:25 (upbeat music)
00:33:30 (upbeat music)
00:33:35 (upbeat music)
00:33:40 (upbeat music)
00:33:45 (upbeat music)
00:33:50 (upbeat music)
00:33:55 (upbeat music)
00:34:00 (upbeat music)
00:34:05 (upbeat music)
00:34:10 (upbeat music)
00:34:15 (upbeat music)
00:34:20 (upbeat music)
00:34:25 (upbeat music)
00:34:30 (upbeat music)
00:34:35 (upbeat music)
00:34:40 (upbeat music)
00:34:45 (upbeat music)
00:34:50 (upbeat music)
00:34:55 (upbeat music)
00:35:00 (upbeat music)
00:35:05 (upbeat music)
00:35:10 (upbeat music)
00:35:13 - Welcome back to "India Markets Close."
00:35:15 It's a thin day of trade when it comes to volumes,
00:35:18 but there's plenty of buzz.
00:35:20 Let's start by taking a look at what's happening
00:35:22 in the futures and options space,
00:35:23 how the session of Saturday has turned out.
00:35:26 And while the Nifty has declined by around 0.3%,
00:35:30 we are looking at a 2.2% increase in open interest.
00:35:33 What currently looks like fresh short positions.
00:35:37 That's, well, only an interpretation.
00:35:40 We very well could see the Nifty head up on Monday.
00:35:44 Pardon me, Monday is a trading holiday.
00:35:46 Do remember that it is going to be a truncated beat.
00:35:48 And Tuesday, of course, is when we return to markets.
00:35:52 But for now, we are continuing to keep an eye
00:35:55 on the mark of 21,600 as far as the Nifty is concerned,
00:35:58 the Nifty futures as well.
00:36:00 To talk about the Bank Nifty futures,
00:36:02 that's where unwinding continues.
00:36:04 This time, the underlying is advancing by 0.7,
00:36:08 but open interest for the futures,
00:36:10 for the Jan futures has declined
00:36:12 by another 7.5% as we speak.
00:36:15 How are options panning out right now?
00:36:17 And where are we seeing the most amount of activity?
00:36:19 Let's pull up the options open interest bar chart as well.
00:36:24 And that's your overall distribution.
00:36:26 As I have been suggesting,
00:36:28 on the lower end, we continue to see 21,500, 21,400,
00:36:33 where we have seen a lot more accumulation
00:36:35 as far as puts go.
00:36:37 On the higher end, of course, while 22,000 remains a mark,
00:36:41 which is going to be very tough to move beyond,
00:36:44 for now, we are also seeing a bout of resistance
00:36:47 around 21,700, 21,800.
00:36:51 Speaking of where we have in fact seen
00:36:54 the most amount of activity,
00:36:56 it is essentially 21,300, 21,400 puts
00:37:00 where the most amount of action has been.
00:37:03 That said, we are seeing an equal amount of distribution,
00:37:06 even though in small quantities when it comes to calls,
00:37:10 ranging all the way from 21,400 through and through
00:37:13 to 21,800, 21,900.
00:37:16 But that is inconsequential because
00:37:18 the overall open interest change numbers aren't significant.
00:37:22 As far as open interest gainers go in the stock future space,
00:37:25 we do have shorts building up in GNFC,
00:37:29 Gajrat Gas along with JK Cement.
00:37:32 And Balkrishna Industries and Coal India, on the other hand,
00:37:34 looking at fresh longs.
00:37:36 Coal India is up around 4% at the moment.
00:37:39 So keep an eye on that one as well.
00:37:41 Longs with a 7.5% increase in open interest.
00:37:44 And on the other hand, open interest losers,
00:37:46 we do have a bout of short covering in RBL Bank,
00:37:50 L&T Tech and Emphasis.
00:37:52 And longs unwinding in Oracle Financial Services.
00:37:55 No surprises there after the kind of staggering move
00:37:59 that we've seen in that particular account
00:38:02 over the previous three days.
00:38:04 And BHEL is the other one,
00:38:06 which has also been strong off late, mind you.
00:38:09 But we are seeing a bout of profit taking there as well
00:38:12 and indicated by longs unwinding
00:38:15 with a 4.5% decline in open interest.
00:38:18 All in all, a quiet day, Harsh,
00:38:20 but plenty to keep an eye on as far as earnings go.
00:38:23 Absolutely, Agam.
00:38:25 And we'll have to keep our eye out on those numbers coming through.
00:38:28 Thick and fast now.
00:38:30 Ireda's numbers also were out.
00:38:33 And I'm going to quickly give you a breakdown on that
00:38:37 because the stock is up and away in trade.
00:38:39 Some of these renewable energy financing counters
00:38:43 have done particularly well, Agam,
00:38:45 and Ireda is one of them.
00:38:47 IPO price was 30 rupees a piece
00:38:50 and it's currently trading at 150.
00:38:53 So it's a five-bagger right there in a couple of months.
00:38:56 But onto the numbers itself,
00:38:58 39% year-over-year net interest income growth.
00:39:02 And that's largely driven by a 33.5% growth
00:39:06 in AUM on a year-on-year basis.
00:39:08 The AUM has now gone up to that 50,600-odd crore number.
00:39:13 Also, when I'm looking at provisioning,
00:39:15 it's down largely because there was a reversal.
00:39:20 Or rather, it's up, but it's up largely
00:39:22 because there was a reversal in Q2 FY24 of 17 crore.
00:39:26 Currently, provisioning stands at roughly 37 crore.
00:39:30 When I'm looking at it year-over-year,
00:39:32 which may be the better metric to look at it,
00:39:34 it's largely quite decent
00:39:36 because 50 crore was the number a year or so back
00:39:39 and of course the book was far smaller at that point of time.
00:39:44 The profit after tax has come in at 336 crore,
00:39:47 which is a 67% growth year-over-year.
00:39:50 Of course, the fundraise meant that there was an equity dilution,
00:39:54 so the better way to look at that is EPS.
00:39:57 Your EPS has gone up by 57% as well,
00:40:00 which is quite impressive.
00:40:02 Asset quality continues to remain robust.
00:40:05 But if we have Avinash,
00:40:07 let's have a quick take with regard to some of these renewable energy counters,
00:40:12 especially PSU-driven.
00:40:14 Avinash, what do you make of something like an IREDA?
00:40:17 It's moved up fairly quickly in terms of valuations.
00:40:22 Would you venture as to how you view it?
00:40:26 Just give us your thinking of this.
00:40:29 REC, PFC, IRFC, IRFC on railways and IREDA,
00:40:33 some of these financiers.
00:40:35 First of all, talking about IREDA results,
00:40:38 I think very impressive numbers.
00:40:40 Almost a 50% growth in profit
00:40:42 and a strong 66% growth in the bottom line in this quarter.
00:40:46 Now the AUM is around 50,000 crores
00:40:49 and I think within the renewable energy space,
00:40:52 IREDA has a niche of its own.
00:40:54 I think if they can maintain this run rate,
00:40:57 I would not be surprised that even from the current level,
00:41:00 despite being up by almost five times from the IPO price,
00:41:04 there could be a significant amount of re-rating here.
00:41:06 The key question is now going forward for its growth journey ahead,
00:41:11 how would the company be raising funds?
00:41:13 Because obviously they had a lot of ammunition earlier,
00:41:17 but now the markets would possibly like to know
00:41:20 in their first ever conference call and the management commentary
00:41:24 that for future growth, how is the company faced
00:41:27 as far as funding is concerned.
00:41:29 But nevertheless, this business is definitely scalable.
00:41:32 I would not be surprised that over the next 12 to 18 months,
00:41:35 we could see strong earnings growth numbers
00:41:37 and that could actually re-enter stock significantly further.
00:41:40 Now talking about REC and PFC,
00:41:42 which are power distribution companies,
00:41:44 I think there's a huge amount of latent opportunity
00:41:47 which has got to be covered
00:41:49 and these are the largest player in this space.
00:41:51 So obviously, any dips here can be used as an opportunity to accumulate.
00:41:55 The entire power sector pack includes power generation, power transmission.
00:42:01 I would believe that investors should definitely look at
00:42:04 frontline companies within this sector.
00:42:06 The mood is definitely very strong
00:42:08 and I think the coming budget is going to be another sentimental booster
00:42:12 where power generation is going to be given
00:42:14 a significant amount of investment kind of opportunity.
00:42:18 So I think definitely this is a space which investors should not miss out.
00:42:22 Okay. Well, let's pull up the tyre sector.
00:42:25 I want to talk about Balkrishna Industries,
00:42:28 Apollo Tyres, as well as SEAT Limited.
00:42:31 Now all of them have risen and risen substantially.
00:42:34 In fact, even a fundamentally challenged company like
00:42:38 Balkrishna Industries, which has seen a lot of weakness
00:42:43 on account of global subdued cues coming through,
00:42:47 we are still seeing that sort of break out from
00:42:51 its range that we have seen of late.
00:42:53 Speaking of breaking out of a range, SEAT is the other one
00:42:57 which has in fact moved and moved substantially higher
00:43:00 in today's day of trade,
00:43:01 moving well over levels that we have seen last in July.
00:43:05 And same for Apollo Tyres.
00:43:07 In fact, we are seeing good gains coming in there as well.
00:43:09 Let's pull this up and talk about this with Amar.
00:43:12 Amar, your view on any of these three counters,
00:43:16 if you would offer one and if there is in fact still
00:43:21 a fresh long opportunity in any of these three?
00:43:24 Yeah, as you rightly said that we are seeing very strong
00:43:35 bullish momentum in the tyre stocks, be it Apollo Tyres
00:43:38 or SEAT Tyres or Balakrishna.
00:43:41 What we are seeing here is that more or less all these
00:43:44 charts, all these stocks have similar patterns on the charts
00:43:48 because if I'm looking at Apollo Tyres from a long-term
00:43:51 perspective, intermediate term perspective, short-term
00:43:54 perspective also, there is a very strong structure
00:43:57 and the bullish momentum is there to stay.
00:43:59 And also what you're seeing is that there has been
00:44:01 significant times where the volume as well as the delivery
00:44:05 quantity has been increasing for the stock.
00:44:08 So that bodes well for these stocks.
00:44:10 Talking about Balakrishna, Balakrishna was consolidating.
00:44:15 It was earlier unable to breach the 2700 levels.
00:44:18 It has breached that level.
00:44:20 Technically, it is strong on the charts, but we'll have
00:44:23 to see that it stays above the 2750 mark.
00:44:26 Then we could witness a stock rallying towards the 2850 levels.
00:44:31 And lastly, to talk about SEAT.
00:44:34 So if I look at SEAT, SEAT is one stock which has really,
00:44:39 I would say, delivered strong returns today itself.
00:44:44 And it has broken out of a major consolidation zone.
00:44:47 So somewhere around 2700, 2750.
00:44:50 So it has broken, breached that level and sustained
00:44:52 above that level.
00:44:53 So again, we'll have to, we'll have, actually what happens
00:44:56 is whenever a stock breaches important resistance levels
00:45:00 on heavy volumes, we'll have to see whether the high
00:45:02 of the day is breached or not.
00:45:04 So that's something we should wait for rather than
00:45:06 get into the stocks.
00:45:07 But I guess on any correction, these are, tyre stocks
00:45:10 are definitely one should look at from an investing perspective.
00:45:14 Thanks for that, Amar.
00:45:15 Avinash, if I can go to you on some of these tyre stocks,
00:45:18 they've done fairly well.
00:45:21 It's an underrated story.
00:45:22 It's not much spoken about.
00:45:24 You had the likes of a SEAT going at rough.
00:45:28 Okay, I've just been told that the Kotak Mahindra management
00:45:31 is addressing Q3 numbers.
00:45:33 We need to cut across to that media conference
00:45:36 that they're having.
00:45:37 Let's go right there.
00:45:38 The volatility that we've seen over the last four or five years
00:45:42 is unprecedented.
00:45:44 Globally, we've had, you know, COVID.
00:45:47 COVID led to very, very significant injections
00:45:51 of liquidity in virtually every country in the world,
00:45:54 which obviously led to very high inflations.
00:45:57 Only last seen in the 1980s.
00:46:04 Last seen in the 1980s.
00:46:06 And then, of course, the central banks had to do
00:46:09 dramatic tightening and interest rates reached levels
00:46:13 last seen in 2008, 2009.
00:46:17 All of this, as if all of this was not enough
00:46:20 to create enough volatility, we also have very,
00:46:23 very difficult geopolitical circumstances going on
00:46:28 as we speak.
00:46:29 Within this backdrop, India actually has been relatively
00:46:35 protected and resilient with strong economic growth,
00:46:41 improved business optimism, continued rise
00:46:45 in public expenditure, and a pickup in private sector capex.
00:46:49 Now, all of this is not new news to you,
00:46:52 but I think the one thing which really stands out for me
00:46:55 is the way India has built out its digital stack.
00:47:00 That has transformed the country in more ways than one
00:47:04 and, frankly, is more than meets the common eye.
00:47:08 This continues to be a very significant opportunity
00:47:13 and change agent for everyone, including us at Kotak.
00:47:18 In this kind of context and backdrop, Kotak occupies
00:47:22 a very special place.
00:47:25 Kotak is a very strong brand, has a very strong reputation.
00:47:30 It is very well capitalized and an incredible platform
00:47:34 offering the full array of financial services,
00:47:38 products, and services.
00:47:40 As I see it, the challenge of the story from here on
00:47:45 is how we scale.
00:47:47 Scale not just for the size of sake, but scale for relevance.
00:47:52 Anyway, that is just three weeks into the role.
00:47:55 Today, we are all here together to look at the third quarter numbers.
00:47:59 And with that, may I request Jamin to take us through the numbers.
00:48:04 I look forward to interacting with all of you
00:48:07 on a far more regular basis going forward.
00:48:11 Thank you, Ashok, for your remarks.
00:48:14 Jamin, may I request you to start, take us through the numbers.
00:48:17 Thanks, Rohit and thanks, Ashok.
00:48:20 We both cleared the quarter three results for FY24 earlier today.
00:48:25 Let me take you through the bank's standalone numbers first.
00:48:28 We closed this quarter with a post-tax profit of 3,005 crores,
00:48:32 which compares with 2792 in the same period last year.
00:48:36 This quarter, we had two difficult hits in the bank standalone.
00:48:41 The first one is we took 190 crores of hit on account of provisioning
00:48:46 towards the AIF investments.
00:48:49 This is in line with the RBI circular, which came out in December last year.
00:48:54 The second one was on account of trading in book,
00:48:57 where we have a fixed income book, net of OIS.
00:49:00 We took a hit of 168 crores in this quarter.
00:49:04 This is a strategy where we lock in spreads through swaps,
00:49:09 and we do go through volatility in the interim periods,
00:49:13 but there is a locked-in spread over the life of the asset.
00:49:16 Last quarter, if one notices, we had a profit of 150 crores.
00:49:20 This time, we have a negative 168, so that has swung the trade in this quarter.
00:49:26 On an overall basis, we've seen the NII at 6554 crores this quarter,
00:49:31 which is about 16% higher than what we did in the same period last year.
00:49:36 The net interest margin at 5.22, which is same as what we locked
00:49:41 in the previous quarter.
00:49:43 Our fees and services at 2144 crores is about 27% higher than what we did
00:49:50 in the same period last year.
00:49:53 The distribution income, as well as the other general banking fees,
00:49:57 contributing both about 27% each.
00:50:00 On the overall expenses, we finished the quarter with total cost
00:50:05 of 4,284 crores, which is about 14% higher than what we did
00:50:09 in the same period last year.
00:50:12 This quarter, we had heightened costs on promotional spends
00:50:15 in the festive season, both Diwali and Christmas.
00:50:18 The employer cost also had a tad hit on account of increased
00:50:22 retirement benefits and stock-related cost.
00:50:25 On the overall pre-provisioning profit, therefore, we closed at 4,566 crores,
00:50:32 about 18.5% higher than what we did in the previous period.
00:50:37 Our GNPA numbers currently at 1.73 compared to 1.90 a year ago,
00:50:44 with an overall GNPA of 6,302 crores.
00:50:49 Net number now at 0.34 as against 0.43 a year ago.
00:50:54 Provisioning coverage, therefore, at over 80%.
00:50:58 SMA2 again contained at 210 crores, which is outstanding,
00:51:03 so people who are 60 days overdue with exposure of over 5 crores.
00:51:07 On overall advances, we closed this period with a book of 3,72,000 crores,
00:51:13 which is about 19% higher than a year ago, and about 4.3% higher
00:51:18 than what was there a quarter ago.
00:51:20 We also do credit substitutes, and if I add total customer assets,
00:51:25 which is advances plus credit substitutes, at just over 4 lakh crores,
00:51:29 we are 17% higher than what we were a year ago,
00:51:33 and 5% increment over the previous quarter, which is not an annualized number.
00:51:39 Our sweep deposits--sorry, on overall deposits, we have seen the growth
00:51:45 with CASA continuing to be healthy at 47.7%.
00:51:51 The active money, which we had introduced sometime in May, June this year,
00:51:55 continuing to grow, and that contributes another 10% of our overall deposits.
00:52:00 The active money has seen a growth of about 13% on a sequential basis.
00:52:07 At the bank standalone level, we continue to have healthy capital ratios,
00:52:12 21.2% overall capital with CET1 itself of 20.2%.
00:52:19 With ROA for this quarter at 2.2%, and if I look at the YTD nine-month number,
00:52:26 it will come to about 2.48%.
00:52:30 At the consolidated level, we closed this quarter at a post-tax profit
00:52:36 of 4,265 crores, roughly about 7% higher than what we did 3,995 crores a year ago,
00:52:44 again, taking the hit from what I went through for the bank.
00:52:49 The other key contributors to the consolidated profits being Kotex Securities
00:52:54 at 306 crores compared to what they did, 241 crores in this quarter.
00:53:00 Interestingly, Kotex Securities has seen its overall market share go up
00:53:05 from about 5.8% last year to 10.3% in this period.
00:53:11 Kotex Prime brought in 239 crores of post-tax profit
00:53:17 on the back of increase in the loan book.
00:53:20 The car finance book itself has grown by about 30% on a year-on-year basis.
00:53:26 Kotex Investments, again, on the back of a rising advances book,
00:53:30 has brought in a profit of 157 crores compared to what it did,
00:53:34 86 crores in the previous year.
00:53:37 The domestic mutual fund business bringing in 146 crores
00:53:42 compared to 150 crores in the previous year.
00:53:45 Last year in this quarter, we did have some capital gains benefit.
00:53:50 The life insurance company bringing in 140 crores,
00:53:54 which has got hit by a variety of things this quarter.
00:53:58 One is, of course, the change in commission payments,
00:54:00 which it has been paying as per the new regulations now.
00:54:04 There's also an increased strain on the count of non-PAR products,
00:54:08 which were introduced.
00:54:10 BSS, which is our business correspondent in the market,
00:54:13 microfinance area, clocking 104 crores of overall profit after tax.
00:54:19 The assets under management, which we do across the group,
00:54:23 is now at over 5 lakh crores, 5.33 lakh crores overall,
00:54:28 with 31.6% growth over year-on-year basis.
00:54:32 There's a seen growth in every area, domestic mutual fund, offshore funds,
00:54:37 alternate assets, and in every single space.
00:54:41 At the group level, again, the capital adequacy being very strong.
00:54:45 We now have a ROA at the group of 2.46 for the quarter
00:54:50 and 2.59 if I take a YTD basis.
00:54:54 All right. So, that's the management of Kotec Manda Bank
00:54:59 telling us about how the quarter has gone through
00:55:02 and also giving us some more details with respect to the results.
00:55:06 But we have about less than four minutes left for close.
00:55:10 I'm going to quickly toss over to Amar for his buy today, sell tomorrow ideas,
00:55:17 if he has any. Amar?
00:55:19 Yeah. There's one stock one can definitely look at,
00:55:23 and not only I would say buy today, sell tomorrow,
00:55:25 one can really hold this stock as well, and that's IDBI Bank,
00:55:28 because if you look at IDBI Bank on the charts,
00:55:32 this is one stock which has again broken out of consolidation.
00:55:38 And we are seeing some very strong momentum
00:55:41 because the stock earlier was unable to breach the 70-72 levels.
00:55:45 On the long-term charts also, the stock has taken out key zone of resistance.
00:55:49 And if I go back, so the next level of resistance is somewhere around the 88-90 levels.
00:55:56 So that's a level where the stock has a potential to rally towards from a short-term perspective.
00:56:02 Thanks for that, Amar. And Avinash, a closing word from you here on.
00:56:10 How do you expect the upcoming week to be in terms of keeping in mind
00:56:14 all the expectations that we have with respect to earnings coming through?
00:56:17 I think markets will be entirely stock-specific, Agam.
00:56:22 I think we are looking forward for large flows of earnings coming week.
00:56:26 And I think the market would be entirely data-driven.
00:56:30 I would be looking at stock-specific opportunities.
00:56:33 Like today we are going to have ICICI Bank numbers.
00:56:36 So probably you'll see a reaction in the coming week for ICICI Bank.
00:56:42 But I think all said and done, I think large corporates from capital goods, automotive, auto components, real estate,
00:56:49 I think these are expected in the coming week.
00:56:51 So I think we'll wait and watch. But I think markets are definitely going to be on an uptrend.
00:56:55 The Monday event, which is the Ayodhya Mandir event, is going to be very important.
00:57:00 And after that, I think the market sentiment would obviously be significantly re-rated.
00:57:04 So I think after that, it would be business as usual.
00:57:07 I think more data points which come out from companies' quarterly numbers would obviously drive the market.
00:57:13 I think more than the index, investors should keep a watch on a stock-specific level.
00:57:17 Okay. Well, thank you both, Avinash and Amar, for joining us and taking us through your views on the markets.
00:57:23 And of course, giving us an idea about how we can deal with several stocks and sectors.
00:57:28 But very quickly, we just have a minute left for markets to end.
00:57:33 And I'm going to quickly recap as to what's really gone down.
00:57:36 As you can see, we are looking at the Nifty marginally in the red at the moment.
00:57:40 And among the gainers, we do have strength in Coal India, which is up around 4.2%.
00:57:45 That's followed by Adani Ports, up 3.3%.
00:57:49 And Kotak Mahindra Bank is doing well today.
00:57:52 We have an advance of around 2.6%, in fact, leading the private sector space in today's day of trade.
00:57:58 Adani Enterprises, that's also up and about, keeping the benchmarks in terms of advances.
00:58:04 Of course, if we can very quickly bring up the heat map and take a look at how things are panning out there in terms of losers,
00:58:12 Sindhustan Unilever is one of those counters which is weighing on sentiment.
00:58:16 But besides that, we also have a weakness in TCS, Wipro and HCL technologies,
00:58:20 which is also leading to some amount of pressure as far as the benchmarks are concerned overall.
00:58:26 Harsh, is there anything else that you're spotting here?
00:58:29 Yeah, I mean, let's pull up the likes of Union Bank, the likes of Ereda,
00:58:34 all of which are buzzing on the back of those numbers that they've come out with.
00:58:40 We also have the likes of Fortis.
00:58:43 Let's quickly check as to where that one has closed because quite a bit of movement on that through the day as well.
00:58:50 You have likes of HFCL, so not too bad on Fortis, 0.6% lower.
00:58:55 Rites, HFCL, NHPC, Ricoh Auto, if you can have all of those, those were some of the big buzzers in trade today.
00:59:05 On the back of earnings, you had the likes of a Suntech, which was also trading lower almost through the day.
00:59:13 Tejas Networks also trading roughly 5% lower the last time I checked.
00:59:18 There you go, around 6% down.
00:59:20 But it's been a long week, Agam.
00:59:23 And markets have closed largely flat, so not much to complain about this Saturday evening.
00:59:31 Hope you have a good weekend. It's a long one now.
00:59:35 And I'll see you on Tuesday. We'll see you guys on Tuesday as well.
00:59:40 For now, it's a wrap on India market close from all of us here at NETV Profit.
00:59:45 [MUSIC]
00:59:55 [MUSIC]
01:00:05 [MUSIC]
01:00:15 [MUSIC]
01:00:25 [MUSIC]
01:00:35 [MUSIC]
01:00:45 [MUSIC]
01:00:55 [MUSIC]
01:01:05 [MUSIC]
01:01:15 [MUSIC]
01:01:25 [MUSIC]
01:01:35 [MUSIC]
01:01:45 [MUSIC]
01:01:55 [MUSIC]
01:02:05 [MUSIC]
01:02:15 [MUSIC]