Natco Pharma launched two Chlorantraniliprole (CTPR) pesticide formulated combination products under the brand names:
a. NATVOL: Chlorantraniliprole 8.8% + Thiamethoxam 17.5% SC; and
b. NATLIGO: Chlorantraniliprole 9.3% + Lambda-cyhalothrin 4.6% ZC
Both products are broad-spectrum, foliar insecticides used across wide range of crops. Syngenta markets these combination products under brand names Voliam Flexi and Ampligo. We estimate the market size of the CTPR combination products to be around Rs 800 crore in India, said Natco Pharma.
Natco Pharma was quoting at Rs 619.40, up Rs 6.90, or 1.13 percent on the BSE.
KEC International bags orders worth Rs 1,407 crore across segmentsKEC International has secured new orders of Rs 1,407 crore across segments. The transmission and distribution segment received orders from Middle East, while the railways business has bagged an order for signaling & telecommunication works. Its year-to-date order intake now stands at Rs 8,400 crore.
Motilal Oswal View on Marico
After achieving a sales CAGR of ~6% over FY15-20, the sales momentum has been better now than that in the past, with double-digit sales CAGR expected over FY20-24. This is likely to sustain beyond FY24 as well, led by: a) the ongoing revenue growth momentum in each of MRCO’s core segments, b) significantly higher growth rates as well as targets in the Foods portfolio, and c) the INR4.5-5b targeted from its ‘digital first’ range of products.
The much-needed diversification can lead to higher multiples than that in the past. Valuations at 52x/42.3x FY23E/FY24E EPS appear inexpensive, given the potential of strong earnings growth (v/s earlier) and a healthy RoE in the late 30s. We maintain our Buy rating on the stock with a Target Price of Rs 620.
Gail India appoints Sanjay Kaushal as Chief Financial Officer
Shri Sandeep Kumar Gupta, Director (Finance) has ceased to be Director (Finance) of the Company w.e.f. 3 October 2022 consequent upon his appointment as Chairman & Managing Director (CMD) on the Board of GAIL (India) Limited.
It is further informed that, Shri Sanjay Kaushal has been appointed as Chief Financial Officer (CFO) of the Company w.e.f. 3 October 2022.
GAIL India was quoting at Rs 85.95, up Rs 0.70, or 0.82 percent on the BSE.
Easy Trip to consider bonus shares, stock split on Oct 10A meeting of the Board of Directors of the company is scheduled to be held on October 10, 2022, for considering the proposal for increase in Authorised Share Capital, issue of Bonus Shares and/or SubDivision/Split of Share.
BSE Capital Goods index gained 2 percent supported by the Schaeffler India, Praj Industries, Hindustan Aeronautics
Prabhudas Lilladher View on State Bank of India
We recently interacted with the management to understand 1) credit outlook, 2) changes in credit appraisal 3) asset quality view and 4) opex trajectory. The bank is optimistic on loan growth, as improving economic activity and tight liquidity may support its credit offtake.
New proposals and unavailed limits within corporate total to Rs 6trn, while retail momentum might continue. With cash flows normalizing for SMEs, the ECLGS/OTR pools are also performing well.
Underwriting has strengthened with induction of non-sales personnel in credit appraisal and robust credit research across 36 sectors.
Asset quality may remain under control and target is to keep credit costs below 1%. While we slightly tweak our estimates, we expect a core PAT CAGR of 20% over FY22-25E. Retaining the multiple at 1.4x, we roll forward to core Sep’24 ABV, raising SOTP based Target Price from Rs 620 to Rs 650. Maintain ‘BUY’.
Market at 10 AMIndian benchmark indices were trading at day’s high level with Nifty above 17200.The Sensex was up 1,236.32 points or 2.18% at 58025.13, and the Nifty was up 358.40 points or 2.12% at 17245.70. About 2357 shares have advanced, 513 shares declined, and 87 shares are unchanged.
Nifty Information Technology index rose 2 percent led by the L&T Technology Services, Coforge, TCS
Oktoberfest: 10-year trend shows market likely to see buying this month
Analysts say the Indian equity benchmarks, which have outperformed their global peers, so far, this year will likely continue the trend due to consistent domestic flows and better economic performance
Avenue Supermarts Q2 standalone revenue jumps 36% to Rs 10,384.66 crore YoYThe D-Mart operator, Avenue Supermarts, announced standalone revenue for the quarter ended September 2022 at Rs 10,384.66 crore, up significantly by 36% from Rs 7,649.64 crore in same period last year.The total number of stores as of September 2022 stood at 302.
Marcellus’ Rakshit Ranjan shares his favourite stocks, recent buys
In an interview with CNBC TV-18, Rakshit Ranjan says India’s domestic consumption story is the reason for its resilience in the face of a global storm
