SP Advisory

*Economic Calendar – 23.07.2024* *11:00 India Union Budget 2024-25* *19:30 U.S. Existing Home Sales (Expected: 3.99M versus Previous: 4.11M)*

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Textile Sector: The textile sector is set for an exciting ride in the next 1-2 years. Here are 10 stocks with strong fundamentals that you should watch: 1. Arvind Ltd (Current Price: ₹372.70) Highlights: P/E: 29.11, ROCE: 13.08%, Promoter Holding: 39.61% 2. Grasim Industries (Current Price: ₹2743.00) Highlights: P/E: 30.83, ROCE: 9.38%, Promoter Holding: 43.06% 3. Sarla Performance Fibers (Sarlapoly) (Current Price: ₹102.50) Highlights: P/E: 26.18, ROCE: 9.51%, Promoter Holding: 56.67% 4. Donear Industries (Current Price: ₹127.23) Highlights: P/E: 19.06, ROCE: 14.57%, Promoter Holding: 74.56% 5. Bombay Dyeing (Current Price: ₹205.76) Highlights: Promoter Holding: 53.58% 6. Ashima (Current Price: ₹43.25) Highlights: P/E: 8.60, ROCE: 19.19%, Promoter Holding: 73.49% 7. AYM Syntex (Current Price: ₹114.32) Highlights: P/E: 68.80, ROCE: 6.92%, Promoter Holding: 73.40% 8. Vardhman Textiles (Current Price: ₹521.55) Highlights: P/E: 23.88, ROCE: 8.80%, Promoter Holding: 64.19% 9. Garware Technical Fibres (Current Price: ₹3752.10) Highlights: P/E: 35.78, ROCE: 23.05%, Promoter Holding: 53.00% 10. Go Fashion (India) Ltd (Current Price: ₹1044.60) Highlights: P/E: 68.91, ROCE: 15.66%, Promoter Holding: 52.78% 🔍 Why the Textile Sector? - Growth Potential: The textile industry is expected to grow significantly in both domestic and export markets. - Government Support: Policies supporting textile parks, technical textiles, and sustainability practices are boosting the sector. - Strategic Position: India is a major textile producer and exporter, providing a competitive edge. 📈 Invest Wisely These companies are financially strong and well-managed. Do your research and consider adding them to your portfolio to benefit from the growth of the textile sector.

*Vedanta:* Company becomes preferred bidder for Gollarahatti - Mallenahalli Nickel Chromium and PGE Block. (Positive) *KPI Green Energy:* Company receives letter of award from MAHAGENCO for development of a 100-megawatt solar power project. (Positive) *HDFC Bank:* Board gives in-principle nod to initiate the process of listing HDBFS through a potential IPO. (Positive) *HDFC Bank:* Net profit at Rs 16,175 crore versus poll of Rs 15,693 crore, NII at Rs 29,837 crore versus poll of Rs 29,583 crore (Neutral) *Kotak Bank:* Net profit at Rs 6250 crore versus poll of Rs 4004 crore, NII at Rs 6842 crore versus poll of Rs 7067 crore (Neutral) *Wipro:* Net profit at Rs 3037 cr vs Rs 2858 cr, Revenue at Rs 21,964 cr vs Rs 22,208 cr (YoY) (Neutral) *JSW Steel:* Net profit at Rs 867 cr vs Rs 2428 cr, Revenue at Rs 42,943 cr vs Rs 42,213 cr (YoY). (Neutral) *Indian Hotels:* Net profit at Rs 248.4 cr vs Rs 222.4 cr, Revenue at Rs 1550.2 cr vs Rs 1466.4 cr (YoY) (Neutral) *CreditAccess Grameen:* Net profit at Rs 398 cr vs Rs 348 cr, Revenue at Rs 1512 cr vs Rs 1170 cr (YoY) (Neutral) *Ksolves India:* Net profit at Rs 8.95 cr vs Rs 7.60 cr, Revenue at Rs 31.6 cr vs Rs 23.8 cr (YoY) (Neutral) *Reliance Ind:* Net profit at Rs 15,140 cr vs Rs 16,000 cr, Revenue at Rs 2,36,000 cr vs Rs 2,11,000 cr (YoY) (Neutral) *Route Mobile:* Net profit at Rs 78.5 cr vs Rs 92.4 cr, Revenue at Rs 1100 cr vs Rs 967 cr (YoY) (Neutral) *Motisons:* Net profit at Rs 8.5 cr vs Rs 7.4 cr, Revenue at Rs 89 cr vs Rs 87 cr (YoY) (Neutral) *Tanla Platforms:* Net Profit up 4.3% at ₹141.2 cr vs ₹135.4 cr, Revenue up 10% at ₹1,002.2 cr vs ₹911.1 cr (YoY) (Neutral) *DISH TV India:* Company’s board meeting on July 24 to consider raising of funds (Neutral) *Bank of India:* Bank has issued and allotted long term bonds (infrastructure) amounting to Rs 5,000 Cr on a private placement basis (Neutral) *Integra Essentia:* Company’s CFO Pankaj Sardana resigns (Neutral) *Vedanta:* Company sells 19.32 cr shares in QIP at Rs 440 each (Neutral) *Vodafone Idea:* Company approves first tranche allotment of shares worth Rs 615 crore to Nokia India and Ericsson India. (Neutral) *Allcargo Gati:* Company June total volume, including surface and air express, stood at 100kt, recording a decline of 3% as compared to May 2024. (Neutral) *Pearl Global Industries:* Company completion of raising of funds up to 1.50b rupees via QIP (Neutral) *Indian Bank:* Central Government extends term of office of Shanti Lal Jain as MD & CEO of Bank w.e.f September 1 to Dec 31 (Neutral) *SpiceJet:* Company auditor issues 'Qualified Opinion' on FY24 accounts. (Neutral) *Adani Ent:* Company and Torrent eye majority stake in IPL franchise as CVC wants to sell stake (Neutral) *Indusind Bank:* Bank approved fund raise via debt securities worth Rs 200 Billion (Neutral) *Techno Electric:* Allotted 86 Lakh Shares to QIB At 1440 Rupees/share (Neutral) *Bombay Dyeing:* Company received Tax demand from Authorities WORTH OF Rs 39.77 crore (Neutral) *PVR Inox:* Net Loss at Rs 178 cr vs loss of Rs 81.60 cr, Revenue at Rs 1190 cr vs Rs 1304 cr (YoY) (Negative) *Seshasayee Paper:* Net profit at Rs 37 cr vs Rs 71.7 cr, Revenue at Rs 422 cr vs Rs 427 cr (YoY) (Negative) *Wipro:* Management said that didn't see a significant shift in demand environment. Clients remained cautious, and discretionary spending continued to be muted (Negative)

*India Daybook – Stocks in News* *Nippon AMC:* Net profit at Rs 332 cr vs Rs 235 cr, Revenue at Rs 505 cr vs Rs 354 cr (YoY) (Positive) *Transformers and Rectifiers:* Net profit at Rs 21 cr vs Rs 12 cr, Revenue at Rs 322 cr vs Rs 155 cr (YoY). (Positive) *Jubilant Pharmova:* Net profit at Rs 481 cr vs Rs 6 cr, Revenue at Rs 1720 cr vs Rs 1566 cr (YoY). (Positive) *Oberoi Realty:* Net profit at Rs 584 cr vs Rs 321 cr, Revenue at Rs 1405 cr vs Rs 910 cr (YoY) (Positive) *ICICI Lombard:* Net profit at Rs 466.3 cr vs Rs 329 cr, Premium Earned at Rs 4503.9 cr vs Rs 3887.3 cr (YoY) (Positive) *Tejas Networks:* Net profit at Rs 79.85 cr vs loss of Rs 14.70 cr, Revenue at Rs 1540 cr vs Rs 167 cr (YoY) (Positive) *RPG Life:* Net profit at Rs 26.8 cr vs Rs 22.1 cr, Revenue at Rs 165.4 cr vs Rs 147.8 cr (YoY) (Positive) *Supreme Petrochem:* Net profit at Rs 122 cr vs Rs 69 cr, Revenue at Rs 1573.5 cr vs Rs 1225.1 cr (YoY) (Positive) *Patanjali Foods:* Net profit at Rs 262.9 cr vs Rs 87.8 cr, Revenue at Rs 7173.1 cr vs Rs 7767.1 cr (YoY) (Positive) *Gravita:* Net profit at Rs 68 cr vs Rs 52 cr, Revenue at Rs 907 cr vs Rs 703 cr (YoY) (Positive) *Yes Bank:* Net profit at Rs 502 crore versus Rs 342 crore, NII at Rs 2244 crore versus Rs 1999 crore (YOY) (Positive) *RBL Bank:* Net profit at Rs 371.5 cr vs Rs 288.1 cr, NII at Rs 1699.9 cr vs Rs 1422.3 cr (YoY) (Positive) *Stanley Lifestyles:* Net profit at Rs 10.20 cr vs Rs 5.80 cr, Revenue at Rs 120 cr vs Rs 96.6 cr (YoY). (Positive) *Kirloskar Pneumatic:* Net profit at Rs 26.9 cr vs Rs 17.93 cr, Revenue at Rs 275 cr vs Rs 242 cr (YoY). (Positive) *Shakti Pumps:* Net profit at Rs 92.6 cr vs Rs 1.0 cr, Revenue at Rs 567 cr vs Rs 113 cr (YoY). (Positive) *Poonawalla:* Net profit at Rs 290 cr vs Rs 226 cr, Revenue at Rs 900 cr vs Rs 650 cr (YoY). (Positive) *Netweb Tech:* Net profit at Rs 15.4 cr vs Rs 5.0 cr, Revenue at Rs 149 cr vs Rs 60 cr (YoY) (Positive) *JK Cement:* Net profit at Rs 185 cr vs Rs 111 cr, Revenue at Rs 2807 cr vs Rs 2762 cr (YoY) (Positive) *Sportking India:* Net profit at Rs 31.8 cr vs Rs 18.1 cr, Revenue at Rs 634 cr vs Rs 538 cr (YoY). (Positive) *Mahindra & Mahindra:* Company announces its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio (Positive) *Coal India:* Company has received an order from Ministry of Mines, GOVT of India for Composite license. (Positive) *Union Bank:* Q1 fresh slippages seen at 20.6 Billion vs 32 Billion (QoQ) (Positive) *Hazoor Multi Projects:* Board meeting on July 26 to consider sub-division/spilt of shares (Positive) *Aster DM:* Company unit Malabar institute of medical sciences to acquire 25% stake in Usolar Assetco, cost of acquisition Rs 78.8 Million (Positive) *Zaggle Prepaid:* Company has entered into an agreement with PNB MetLife India Insurance Company to provide Zaggle Save Employee expense management and benefits. (Positive) *Welspun Living:* Company Board meeting om July 24 to Consider Q1 Result, Consider Agenda for Buyback of Equity Shares (Positive) *EMS:* Company received order worth 5.35 Billion rupees. (Positive) *Kay Cee Energy:* Company received order worth Rs. 196 Million (Positive) *Tata Consumer:* Company sanction of scheme of amalgamation of 3 units with company, by national company law tribunal. (Positive) *JSW Infra:* Company approves purchase of assets of under construction 30 MTPA slurry pipeline project. (Positive) *VL E-Governance:* Company signs binding term sheet for acquisition of 26% equity stake in HETL (joint venture of HAL), through this acquisition (Positive) *PCJeweller:* Bank of Baroda accepts one-time settlement proposal from company for unsettled dues. (Positive) *HDFC Life Insurance:* Company gets rectification order for tax demand revised from Rs 4,179 Cr in March to Rs 1,868 Cr (Positive) *HG Infra:* Company gets letter from East Central Railway for Rs 709 crore project in Bihar. (Positive)

*Q1FY25 EARNING CALENDAR 22.07.2024* *COFORGE*, CYIENTDLM, DODLA, GREENLAM, IDBI, *IOB*, JSFB, MAHLOG, MAHSCOOTER, MOSCHIP, MRPL, SOLARA, SUPREMEIND, *SUZLON*, *UCOBANK*, WENDT, *ZENSARTECH*, ZFCVINDIA *Coforge Ltd* • Rupee Revenue expected at Rs 2427 crore versus Rs 2358 crore • EBIT expected to be seen at Rs 314 crore versus Rs 301 crore • EBIT margin expected to be seen at 12.9% versus 12.7% • Net profit expected to be seen at Rs 229 crore versus Rs 223 crore *Q1FY25 EARNING CALENDAR 23.07.2024* *BAJFINANCE*, DCMSHRIRAM, *HINDUNILVR*, ICICIPRULI, ISEC, KAJARIACER, M&MFIN, PARAGMILK, SCHAEFFLER, *SRF*, SSWL, THYROCARE, *TORNTPHARM*, *UNITDSPR*, WELSPLSOL

*HDFC Bank:* Board gives in-principle nod to initiate the process of listing HDBFS through a potential IPO RBI norms require a mandatory listing of HDBFS as an Upper Layer NBFC (Supportive for HDFC Bank as value unlocking expected. However timeline related to IPO and rest details awaited)

*News Headlines from Business News Agencies:* *Business Standard* 📝 Rural demand for two-wheelers reviving in the first half of 2024: FADA 📝 Vedanta Ltd acquires two critical mineral blocks in Karnataka, Bihar 📝 India's per-capita income to surge by 5.4% annually, says report 📝 ONGC acquires Equior stake in Azerbaijan oilfields for $60 million 📝 Global electricity demand forecast to grow by around 4% in 2024: IEA report 📝 HDFC Bank Q1 result: Net profit up 35% at Rs 16,175 cr, NII at Rs 29,837 cr 📝 PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop 📝 Tea industry seeks higher RoDTEP rates to make exports competitive overseas 📝 Goyal cites ease of doing, other steps to attract US investors to India 📝 Boeing sees 20-yr jetliner market doubling as industry fights disruptions 📝 Nigeria slaps $220 mn fine on Meta over violation of data protection laws 📝 India's agriculture exports drop 3% to $5.88 bn in Q1 on Red Sea crisis 📝 Govt sets up 22-member panel for base year revision of price indices *Economic Times* 📝 Coal India ventures into non-coal mineral mining with graphite project 📝 FPIs net buyers of Indian equities at Rs 30,772 crore in July so far. 📝 SpiceJet board to consider fund raise via QIP on July 23 📝 India agrees to positively consider providing Rs 1,500 crore economic stimulus to Bhutan 📝 Mutual funds had minimal impact from global Microsoft systems outage: AMFI 📝 Pearl Global Industries raises Rs 149.5 cr through QIP issue 📝 Kotak Mahindra Bank increases customer base, customer assets by 20% YoY 📝 Citigroup sees India luring $100 billion in foreign investment 📝 SaaS startup AiDash unveils new AI centre of excellence in Bengaluru 📝 Tata Play FY24 results: Net loss widens to Rs 353.9 crore, revenue dips 4.3% 📝 Kharif crop sown area soars to over 704 lakh hectares, pulses area increases, cotton declines 📝 Microsoft systems global outage: 5 Indian AMCs report disruptions in functioning 📝 Boeing sees significant improvement in 737 MAX factory production *Mint* 📝 RBI sells $406 million in Indian Bonds as Index Inclusion boosts inflows: Report 📝 Cosmetics, ayurveda products and lifesaving medicines fail drug regulator test 📝 Airbus eyes eight locations for its H125 helicopter assembly line in India 📝 India must curb steel dumping, revisit Asean FTA, say JSW Steel's Acharya 📝 Bharti Airtel awarded network project by CBDT 📝 Union Bank Q1 results: Net profit rises 13.66% to ₹3,678.85 crore in Q1FY2025 📝 Microsoft outage: IndiGo to process refund to affected flyers 📝 Occidental Planning to Sell Bonds in Up to Five Parts 📝 SBI can restrict offerings to only SBI MF schemes: Sebi chairperson Buch 📝 Global tech outage: CrowdStrike may see fallout as customers rethink dependence 📝 Unclaimed deposits and dividends: Govt revamps corporate disclosure regime 📝 Ed-tech giant Byju's faces total shutdown if insolvency proceeds, says CEO 📝 HCL Tech to link leave policy with employees' office attendance: Report

*Global Market Update:* Asia stocks set to open with mixed note as Biden drops out of race and endorsed Kamla Harris; while inflation and GDP data this week in focus.

*Economic Calendar – 22.07.2024* TENT India Economic Survey

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