-#SumitomoChemical's net profit jumps 52% to Rs 110 crore
-#Nifty, #Sensex trade higher.
Get all your stock-related queries answered by our technical and fundamental guests with Alex Mathew and Smriti Chaudhary on Ask Profit. #ndtvprofitlive
-#Nifty, #Sensex trade higher.
Get all your stock-related queries answered by our technical and fundamental guests with Alex Mathew and Smriti Chaudhary on Ask Profit. #ndtvprofitlive
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TVTranscript
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00:46 Hello and welcome.
00:47 You're watching Ask Profit on IndyTV Profit.
00:50 I'm Smriti Choudhury, and with me is Alex Matthew.
00:52 And we'll take you through the trade for the next 30 minutes.
00:56 And if you have any queries, any stock-related queries,
01:00 write to us on any of our social media channels
01:02 or on the WhatsApp number that's flashing on your screen
01:05 right now.
01:06 You can also write to us in the YouTube live chat,
01:08 and we'll take your questions from there.
01:10 Before we do that, let's take a quick check of the markets.
01:13 You have the Nifty 50 pretty much flat in trade
01:16 with a positive bias right now.
01:19 A bit of a range-bound day for the benchmarks today.
01:23 You look at the broader markets, though, they are in red
01:26 right now.
01:27 Nifty mid-cap's down about 0.4%, while Nifty small-cap,
01:31 down about 0.6% roughly.
01:34 Let's look at some of the constituents of the Nifty 50.
01:36 Not that there's too much action in the Nifty 50
01:39 today compared to the last couple of days.
01:42 But let's see some of the movers on the Nifty 50.
01:45 You have Divi's Lab that's up over 2%, 2.5% in trade.
01:48 There's HDFC Life, also up over 2% in trade.
01:52 There's Hindalco.
01:53 And Hindalco is not the only metal name that's moving today.
01:58 There's Hiromoto that's up about 1%, 1.5% in trade.
02:03 On the losers, you have Adani Ports that's down over 1%.
02:07 There's Power Grid, Coal India, both down over a percent
02:11 in trade.
02:13 You look at the breadth of the market as well.
02:15 On the Nifty 50, there are 31 advances and 19 declines.
02:19 But it still continues to remain on the benchmark,
02:22 at least, in the positive.
02:24 But let's look at some of the stocks
02:27 also that are moving, some specific counters.
02:29 You have Inox Wind that is stuck on lower circuit.
02:32 And this comes after a block trade.
02:36 Reports suggest that promoters may have sold about 5% stake
02:40 in the company.
02:41 There's something like Timken that's moving,
02:44 but it's up about 5.5%.
02:47 This is also on the back of a block trade.
02:50 But we're going to focus on a result, a stock that's
02:54 moving based on its result, which is Sumitomo Chemicals.
02:57 And--
02:59 Interesting numbers.
03:00 Definitely.
03:00 It's up about 7.5%.
03:02 And to break down those numbers, we're
03:05 joined by our colleague, Varsha, who's
03:07 going to tell us what happened in the fourth quarter.
03:10 Varsha, take it away.
03:11 Well, thanks for that.
03:12 So yes, the whole show for Sumitomo Chemical
03:15 is about margins.
03:17 So if you see revenue, revenue is up almost 3.5%,
03:20 but EBITDA is up 74%.
03:23 And margins are-- margin stands at 21% versus 12% last year,
03:28 which is why net profit is up 52%, one of the reasons.
03:31 Now, if you see the 840 basis point expansion in margins
03:35 is supported by lower raw material costs.
03:37 So raw material costs with respect
03:39 to revenue, which was 69% last year, is 59% this year.
03:44 Now, two of the raw materials, chlorophyrophos
03:47 and profenophos, which are basically the raw materials
03:50 and few other raw materials, the prices have gone down.
03:53 And this has helped in margin expansion.
03:55 Since last two, three quarters, the company
03:58 was carrying high cost inventory on their balance sheet, which
04:01 is why we've seen that in last two, three quarters,
04:03 margins were not that great.
04:05 But management in last Concord had
04:08 highlighted that with the raw material prices bottoming out,
04:11 there can be improvement in margin profiles
04:13 in the subsequent quarters, which we are seeing.
04:16 Now, management has also laid out
04:18 CAPEX plans, where they're going to do regular CAPEX of 70
04:22 to 75 crores per annum and additional CAPEX of 120 crores
04:26 over two years for five products.
04:28 Now, the revenue potential for these five products
04:31 is 200 to 250 crores per annum with the estimated margins
04:36 of 20%, which we are currently seeing.
04:38 So this is all we have, Sumito.
04:40 So basically, because of the margin improvement,
04:42 we are seeing the buzz in the stock.
04:44 That's an interesting take.
04:45 Thanks so much for getting us those details.
04:48 We're joined today by Ashish Maheshwari as well as Swati
04:51 Khotkar.
04:52 Ashish and Swati, thanks so much for taking the time as always.
04:55 Ashish, I'll start with you.
04:56 It's an interesting set of numbers
04:58 in a space or a category that has
05:00 been a little bit underwhelming, that
05:03 has faced quite a bit of headwinds
05:06 over the last several quarters.
05:07 As Varsha was pointing out, some of those high-cost inventories
05:10 moving out of the system for this company, which
05:13 is why you're seeing perhaps an increase in the margins.
05:16 But the question is, is the worst over?
05:19 And should you start nibbling into something
05:21 like Sumitomo Chemicals or any of the other stocks
05:24 in the space?
05:26 I think let's focus on Sumitomo Chemicals only.
05:30 And the kind of results that the company has come out
05:34 is phenomenal.
05:35 And the reason the stock is at 52-week high also today.
05:39 The best part is, till December quarter,
05:41 there was so much pessimism about the company
05:45 because as your analyst was pointing out,
05:49 that they were carrying high-cost inventory, which
05:51 is they have liquidated fully now,
05:53 it looks, in this particular quarter.
05:55 And if you see their revenue wise, also 90% of their revenue
06:00 come from pesticides, herbicides, insecticides,
06:03 et cetera, where high growth is seen as far as their top line
06:08 is also concerned.
06:10 So in my view, the numbers are phenomenal.
06:13 If I see even December to March quarter,
06:16 the profit has just become double from 54 crore to 109
06:19 crore.
06:20 And this decent amount of margin expansion into EBITDA,
06:23 I think this will continue because, like Keshav rightly
06:27 said, their volumetric prices have come down.
06:29 But at the same time, as rural India is now
06:32 expecting this monsoon season will be normal.
06:35 So a lot of buying will happen in this particular quarter
06:38 for their end products.
06:40 So my thumbs up for Sumitomo Chemicals
06:42 for excellent results.
06:44 And in my view, this stock will further get reiterated.
06:47 All right.
06:49 Good morning to both of you.
06:50 Let's begin with the queries now.
06:52 The first one is from Mansi.
06:54 And the stock they're talking about is Vedanta.
06:57 They say they've bought the shares at a price of 474,
07:00 so elevated levels there.
07:02 And Swati, very short time period, only 10 days
07:07 they want to hold the counter.
07:10 Now, considering they bought it at a 474
07:12 and it's currently trading at 460 negative returns
07:15 in the last week, what's your outlook for the next 10 days?
07:21 See, the outlook is a little bit cautious
07:23 for the very short time period because the stock has just
07:26 formed a negative divergence into overbought soon.
07:29 And we are witnessing some sort of profit bookings.
07:33 From the last two months, we have
07:34 witnessed that the stock has given a very strong rally
07:37 from almost 250 to 500 levels.
07:39 So at the high levels, we cannot deny the profit bookings,
07:42 which we are witnessing as of now.
07:44 I believe that 435 will act as a crucial support
07:48 level provided by its 25 to that level.
07:51 We might see some correction.
07:52 Then again, spalling can be continued.
07:54 If for a very short period of time,
07:56 I would suggest to keep a stop loss for 235 levels.
08:00 And upside, we can see the target of at least, again,
08:02 520 to 530.
08:04 And if you're asking me for a very short period of time
08:06 for the trading of 5 to 10 trading sessions,
08:09 then 455 would be the next stop loss
08:11 to keep on this particular pattern.
08:14 OK, so we've got a slightly longer term question.
08:17 And I'm coming back to you, Swati, on this one,
08:19 despite the fact that it's a three-year time horizon,
08:22 three to five year, in fact, because these stocks are
08:25 active in trade.
08:26 Amarajah Battery as well as Exide, Vishal from Mumbai,
08:30 has bought these two counters, Amarajah at levels of 700
08:34 and Exide at levels of 225.
08:38 Now, he has pointed out that these stocks have
08:41 gained in the recent past.
08:42 In fact, Amarajah up as much as 2.5% in trade today,
08:45 or thereabouts.
08:46 The question that he's asking is, should he hold on to these?
08:50 Should he enter, or should he add more to his position
08:53 at this point, Swati?
08:55 See, Exide is definitely one of the very strong performer
08:58 counter on the technical front.
09:01 The monthly chart indicates, as of now,
09:02 the stock is trading nearby needs above all time high
09:05 levels.
09:06 And I believe, looking towards the technical setup,
09:09 the momentum rally is likely to be continued
09:11 in the coming trading session as well,
09:13 towards at least 550 to 570 levels on the higher sides.
09:17 If you want to take a long positions,
09:19 just hold on for a few time being.
09:22 Probably in the next week, the market
09:23 will be more volatile, because the election results are
09:27 going to come out.
09:28 And I believe we might get a dip towards 470 to 460 levels.
09:32 At that point of level, one can take a long position,
09:34 but not at the current market price.
09:38 About Amaracha Battery, yes, this particular counter
09:40 is also doing very well, Alex.
09:42 I believe one should hold their long position
09:44 for immediate target of at least 1,340 to 1,400 levels
09:47 on the higher sides, because the overall technical setup
09:51 of this particular counter is really very strong.
09:53 The volumes and the price momentums
09:55 are going hand in hand.
09:57 I believe if you are looking for a long position,
09:59 just hold on, wait for any dips towards to at least 1,150
10:02 to 1,100 levels.
10:03 At that point of time, one can take a long position,
10:05 because the risk-reward ratio will be favorable.
10:08 So just hold on for some point of time,
10:10 but these two counters are really doing very well.
10:13 So one can take a long position on any dips and such.
10:15 All right, got it.
10:17 The next question is on Utkarsh Small Finance Bank.
10:20 This one's from Nitin, who's writing in from Netherlands.
10:24 And they say they bought the counter at a price of 50 rupees,
10:28 about 50 rupees.
10:30 Ashish, from a longer-term perspective,
10:33 would you suggest holding on to it?
10:34 It's been in a bit of a downturn in the last couple
10:36 of months, stock-wise.
10:40 Still, if you see from the lows of 30 rupees,
10:43 the stock is at 67, 68 high, but into quite consolidation
10:48 phase for a long time.
10:51 And the stock not giving any good return.
10:53 So my suggestion would be to exit from this stock.
10:56 And instead of this, look at more PSU stocks,
10:59 like Bank of Maharashtra or Central Bank of India,
11:01 which can give you much better returns.
11:04 Good point.
11:05 Sameer from Kolkata has got the next question.
11:07 He's asking about Blue Star, which he's bought at levels
11:10 of 1,443.
11:11 He's asking if we should add more at this juncture.
11:14 He's not specified his time frame,
11:16 but I'm still going to treat this as a fundamental question.
11:19 Ashish, what's your view on this particular counter?
11:21 Or would you prefer another in the space?
11:23 Yeah, this is, again, good play as far as this time
11:27 we are going to witness--
11:29 or in fact, we are witnessing a never seen before
11:32 or never felt before heat weather across India.
11:35 And this is a good time for companies like Voltas, Blue
11:39 Star, Heavens, because I came to know they are waiting for even
11:44 two, three days if you want to install air conditioner
11:46 in your home.
11:47 So companies like Blue Star, PG Electroplast, Voltas,
11:51 they will continue to do well.
11:52 So remain invested will be my advice.
11:56 So adding more at this juncture?
11:59 Yes, you can add also at this point.
12:01 OK.
12:02 All right.
12:02 The next counter is Adani Ports.
12:04 This one's from A. Chaudhary.
12:06 And the time period here is one to two months.
12:10 Swati, from a short-term perspective,
12:13 something like an Adani Ports, we're
12:15 seeing a bit of correction in the stock now.
12:17 It's down over a percent in trade.
12:18 But I think on Friday after the announcement,
12:22 we saw some gains.
12:23 After that, the fact that it's going
12:25 to be included in the Sensex, we saw a little bit of gains there.
12:29 But it's now in red.
12:31 From a one to two-month perspective,
12:33 do you have a target?
12:36 Yes, the overall setup is definitely positive.
12:38 Adani overall group is really doing very well
12:41 in this kind of a market.
12:42 Profit-pooking cannot be denied because all those stocks
12:45 are really trading at their all-time high levels.
12:47 From last two to three days, we are witnessing a sudden
12:50 pressure of, say, the profit-pooking
12:51 at the higher levels.
12:52 I feel we might get a dip towards to 1320 levels
12:57 on the downside.
12:58 So for a very short-term period, I
13:00 would suggest you should book the profits
13:02 above the long positions of those counters who are trading
13:05 at their all-time high levels.
13:07 Any dips towards to 1300, one can take a buy-call,
13:09 but not at the current market price.
13:12 All right, Naman from New Delhi has got the next question.
13:14 HAL is what we're talking about.
13:15 And what a stock this has been.
13:17 What a rally it has been for HAL.
13:19 3,855 is where Naman bought it.
13:23 And the stock is currently trading at 5,000.
13:25 So one would have previously thought elevated levels,
13:29 Ashish, but what can you say about this counter, HAL?
13:34 Would you hold on at this point?
13:35 Would you buy more?
13:36 Certainly, I'll hold.
13:40 And on any decline, I will use this opportunity
13:43 to add this stock in the portfolio.
13:45 Again, the rationales are fundamentally, first of all,
13:48 now the floating stock is less than 5% in HAL,
13:51 the way FIIs and DIIs have accumulated
13:54 this stock in the last quarter.
13:55 So this is what.
13:56 Second, as soon as election results are announced,
14:00 they are going to see a lot of new orders which
14:03 will flow into HAL.
14:05 And in my view, you can freshly invest here also.
14:08 And my target for next six months
14:11 will be at least 5,600 A.
14:15 All right, got it.
14:16 Ashish, thanks so much for that.
14:18 Ashish, Swati, do stay with us.
14:19 And viewers, we'll be back.
14:21 We have to slip into a very quick break.
14:22 We'll take more of your questions on the other side.
14:25 So do stay tuned.
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17:36 Welcome back.
17:41 You're watching Ask Profit.
17:42 And we're taking all of your stock-related questions.
17:45 The next one that I will take is about GSFC,
17:48 and that is Gujarat State Fertilizers and Chemicals.
17:51 It is currently trading at 220 or thereabouts.
17:55 And this is essentially where our viewer, or our--
18:00 well, our viewer, Chandrasekaran, who has joined,
18:04 has bought the stock.
18:05 He says that he's a senior citizen.
18:07 He's holding as much as 3,000 shares.
18:09 Ashish, it's a stock that has gained,
18:12 if I look at the 12-month performance, 38-odd percent.
18:15 But it's had a pretty bad start to 2024, or bad year so far.
18:21 It's down about 19%.
18:22 Should you continue to hold this?
18:24 And what are the prospects for about a year?
18:27 This was really a disaster quarter for them
18:30 when net profit went down by almost 90%.
18:34 So in my view, this is not a good time to remain in this stock.
18:37 And like, though it's midway from 50-degree high low,
18:42 but instead of this, I'll suggest
18:44 if you want to remain in the same sector,
18:47 GNFC can give you much better return than GSFC,
18:50 where the numbers were also good.
18:52 So better, bad, they have--
18:55 All right.
18:56 The next question is from Satya.
18:59 And they're talking about SJS Enterprises.
19:02 They say they bought the counter, and they have about 50%.
19:06 So the stock has gained 50% in the last one year.
19:09 Swati, the question here is, should you
19:11 continue holding on to something like an SJS Enterprise?
19:15 Is there more upside?
19:15 Or should you switch to JK Paper or Indoco Remedies out
19:20 of these two counters?
19:23 Definitely, SJS is really doing very well
19:26 on the technical front.
19:28 We have seen a very strong rally from after the breakout of 640
19:32 towards 745 levels.
19:34 And still, the rally is continuously
19:36 is on the hold as such.
19:38 I would suggest to hold on as long
19:39 as this particular counter trades about 690 levels,
19:43 that will act as a crucial support level
19:44 from the technical front.
19:46 So keep a long positions for a target of at least 780
19:50 to 800 levels on the high side, but keeping
19:52 a stop loss of 690.
19:54 OK.
19:55 I'm going to try and get a view on this.
19:57 And we've got a viewer, Aman, who is writing in from Indore
20:00 and asking about accuracy shipping.
20:03 It's not a large counter at all.
20:05 In fact, it's just got a market capitalization
20:08 of 134 crore rupees.
20:10 It is currently just on the border
20:13 or the cusp of being called a penny stock.
20:16 It is, in fact, trading at 8.9 rupees per share.
20:19 The question is for Ashish.
20:22 Ashish, do you have coverage on this?
20:24 He points out that you spoke about it a while back.
20:27 So if you still have a view on this,
20:29 would you say that holding is something
20:31 that he should consider?
20:32 He's bought at levels of 20.
20:35 Already, stock has come down from 18 to 8 now.
20:39 And this is on account of two last bad quarters,
20:42 which a company has reported.
20:43 So my suggestion will be to exit from this stock,
20:47 because I'm telling this company, come back into the profit.
20:50 And looking at this sector, I don't think so.
20:53 And soon they are going to be in black again.
20:56 So my suggestion would be to exit from this stock.
20:58 So then alternatively, and this I would think
21:01 is a bit of a risky bet, alternatively,
21:04 would you suggest another account that he
21:06 can enter into to mitigate his losses somewhat?
21:10 Yeah, I suggest that you go with any PSU bank, which
21:13 can give you much better return.
21:15 So again, Central Bank of India or Bank of Maharashtra
21:17 are my favorite picks.
21:20 All right.
21:21 The next question is from Vinod, who's
21:22 writing in from Chennai.
21:23 They're talking about the counter, RRK Bill.
21:25 They bought the counter at a price of 1,035 rupees.
21:29 It's currently trading at near 1,826 rupees.
21:34 So I think the question here is that should you
21:36 continue holding on to this counter for another year,
21:39 or should you book profits at this juncture?
21:43 Yes, the overall view on this particular counter
21:46 is really positive.
21:47 As long as he doesn't need the capital,
21:50 definitely he can hold the long positions downside
21:52 if the immediate support level comes to around 1720,
21:55 which is the previous swing side.
21:57 So as long as it holds that level,
21:59 I believe the upside rally can be extended towards up to at
22:02 least 1,000 to 2,200 levels on the higher side.
22:05 So hold the long positions by maintaining a profit surplus
22:08 of 1720 on the downside.
22:10 All right.
22:11 The next one is coming from Sushila.
22:13 She's writing in from Bellary in Karnataka
22:15 and asking about Avantel.
22:17 This is for you, Swati.
22:19 Avantel, she's bought at levels of 115,
22:22 and she's got 555 shares.
22:24 If we can pull up the charts to see where it's currently
22:26 trading, what does it look like on the chart?
22:29 She's not really gaining too much.
22:32 She's bought it very close to the market price.
22:34 So what's the suggestion that you have?
22:37 See, this particular counter on the technical front,
22:40 as of now it is in the consolidation phase.
22:42 It's trading within the range of 100 to 130 levels,
22:45 so it's not giving any major reversal sign
22:48 on the technical front.
22:49 But definitely, as of now, it's currently
22:51 trading at the buying price itself.
22:54 I would suggest to hold on, but please
22:56 maintain the strict surplus of 110 levels on the downside.
22:59 If any bounce back rally comes up to 130 level,
23:03 one should book their profits or exit their long positions.
23:06 I don't feel it should be carried for long positions
23:09 into their portfolio.
23:11 All right.
23:11 Next counter we're talking about is Newland Laboratories.
23:14 This one's from Monica Sharma.
23:16 They say they bought the counter at a price of 5,394 rupees,
23:20 currently trading over 6,200 rupees.
23:23 From a-- OK, they've not mentioned
23:27 if this is a long term or a--
23:29 OK, this is a long term question.
23:31 Ashish, I'm going to come to you on this counter.
23:33 What's the long term view?
23:36 Again, this is a counter from 2,500.
23:39 It's probably up to 8,000 rupees.
23:41 And now, slightly getting consolidated.
23:45 So as far as company fundamentals are concerned,
23:48 there's no concern.
23:49 Only thing is the growth is not there.
23:51 If we see December to March quarter,
23:54 there are slight decline in their top line profit also.
23:58 There's a reason the stock is correcting.
24:00 But if you're already holding, then for long term,
24:03 you can remain invested.
24:05 Otherwise, it's a good company.
24:07 Only one or two quarters, some aberration
24:09 is there in the numbers.
24:10 But I think in the long run, this will continue to do well.
24:14 Long term view on Bosch, we've got a question
24:16 coming from Nand Kumar.
24:17 He's bought in 2016.
24:21 He's seen gains of about 40%.
24:23 And he's wondering whether to continue to hold
24:25 or should he sell.
24:26 Should he book out at this point?
24:27 Ashish, this is a counter that is down about 1.8%.
24:30 But all auto angs have performed appreciably well,
24:33 particularly over the last week or so.
24:35 Should you use this time to book some profits?
24:39 No, I think you can remain invested in Bosch,
24:42 in a blue chip counter.
24:43 And if you see year over year from 1,400 crore
24:47 to 2,500 crore profit by '24.
24:51 And I think this trend will continue
24:53 because their auto business, where they make various parts,
24:58 is doing very well.
25:00 So my suggestion will be, in fact, to remain invested.
25:03 And for new investors, this will be a very good buy
25:06 if they stock further correct to even 30,000 rupees.
25:09 Maybe next six months, this will be a sure shot candidate
25:12 for 35,000 plus mark.
25:14 One last very quick view on life insurance
25:17 corporation of India.
25:18 It's in focus today.
25:19 1,036 is the buy price of our viewer Hari.
25:23 What's the view, Swati?
25:25 View is definitely positive.
25:27 One should definitely hold on for this particular counter
25:30 for a long-term perspective.
25:32 I believe that the upside rally can be continued
25:34 towards to 1,200 levels because the monthly chart is forming
25:37 the flat pattern.
25:39 And it's on the verge of forming the body
25:41 of that particular flat.
25:42 So slowly and steadily, we will find the breakout
25:45 in this particular stock.
25:47 The breakout comes to it around 1,060
25:49 once it manages to give a breakout of that level.
25:51 On the closing basis, definitely we
25:53 can see a very good kind of a rally towards to 1,200 levels.
25:56 So one should definitely hold on as long as the stock
25:58 sustains above 970 levels.
26:00 So it's a hold from my end.
26:03 All right.
26:04 Now, unfortunately, we're completely out of time here.
26:06 Thank you so much, Swati and Ashish,
26:08 for joining in on the program and for answering
26:10 so many questions for us.
26:11 Viewers, thanks for tuning in.
26:13 If you were not able to take your question today,
26:15 we'll definitely take that tomorrow.
26:17 But don't go anywhere.
26:18 We have lots more lined up for you on NDTV Profit.
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26:31 [CHATTER]
26:35 [MUSIC PLAYING]
26:38 [MUSIC PLAYING]
26:42 [MUSIC PLAYING]
26:46 [MUSIC PLAYING]
26:49 [MUSIC PLAYING]
26:52 [MUSIC PLAYING]
26:55 [MUSIC PLAYING]
26:58 [MUSIC PLAYING]
27:02 [MUSIC PLAYING]
27:06 [MUSIC PLAYING]
27:09 (upbeat music)
27:12 (upbeat music)
27:14 (upbeat music)
27:17 (upbeat music)
27:19 (upbeat music)
27:22 (upbeat music)
27:25 (upbeat music)
27:27 (upbeat music)
27:30 (upbeat music)
27:32 (upbeat music)
27:35 (upbeat music)
27:38 (upbeat music)
27:40 (upbeat music)
27:43 (upbeat music)
27:45 (upbeat music)