Share Market Opening LIVE | Stock Market LIVE News | Business News | Sensex LIVE Today | Nifty LIVE

in early trade not much of a Handover from Wall Street but back home of course it's been stable it's been steady uh while we've been arguing that it looks tired don't think fund managers or Traders or even investors for that matter feeling tired at this stage yeah I I I suppose at this stage of the markets you are going to have uh you know a bit of a Slowdown in that wild sort of appetites and I think a lot of Focus right now on Fresh money being raised in the market IPOs qips from the nfos from the regulat to everyone everyone's talking about you know uh the the primary Market which is taking a lot of focus and sucking out the liquidity yeah so this week could be interesting from that perspective but I I I mean markets have been expensive but the momentum seems okay you have chocolate here interestingly so are you celebrating something it is actually our our hairdresser karishma's birthday oh okay and I have been given a chocolate I see neither of you two have I had one already she wasn't she doesn't do anything to my hair I guess but yeah from a Market's perspective sorry just coming back to it just that I mean liquidity maybe sucked out this week but who knows the momentum seems okay for now yeah yeah uh nothing much uh to take away from Global Q so we'll go through it very very quickly us markets were shut so nothing much on bond rates as well but it is going to be a big week for data and I'll just pull that up uh for you why it's going to be a big week for data so that's that's the roll call Tuesday you have the August ISM Manufacturing Index data Wednesday the July durable goods order we're missing a d there uh Thursday ADP payroll data will come in and on Friday August us jobs report uh crude is going to be an interesting story to track because crude prices have been trending downwards they continue to do so OPEC plus is expected to increase output and there is concern about sluggish demand in two of the world's largest markets China and the us so you have rented about $76 per barrel levels Asia's been um mixed kind of an open this morning at least um nothing too exciting happening there and we'll just pull up that imply open once to show you what the picture is like for India 23 points up so we'll open up but again I I would say it's been lackluster overall uh pull up the fund flows from yesterday and yes we did technically you know close Okay uh foreign investors were buying again so foreign investor numbers have been coming in positive for um quite a few sessions now 1735 cror there 356 crores of buys from domestic investors um but if you look at yesterday as well folks it was just um you know a few stories here and there which were actually seeing momentum it was all about Gujarat gas and the navaratnas broader markets were quite Ted yeah broader markets were Ted but you know interesting Pockets I mean we we like like we we talking about consolidation uh for example with standard disclos and I'm sure I'll just get to the trade setup in a moment but just this point one month of consolidation in the adani group stocks yesterday we saw a spurt coming there we've seen in the month of August after months and months of consolidation the sanjie Goa group stocks had seen a big big spurt right so selective Pockets the market seems to be finding the momentum to my mind the trade setup in my trade setup today and then the momentum seems to be intact just that yesterday I spoke to multiple people everybody's saying that even if they were bullish they now starting that every incremental rise they will raise some bit of cash and one key issue for almost everybody seems to be that uh banks are looking skittish uh and fundamentally with the credit growth numbers that are coming out banking numbers don't quite look that strong in fact their conversations with select Banks seems to suggest that uh sluggish credit growth and maybe margin compression could hurt numbers as well as sentiment in the buildup to the numbers as they start getting released in October so maybe just maybe Bank Nifty doesn't I remember Samina saying yesterday the bank Nifty needs to perform for the markets to higher um I wonder what if how will the bank Nifty perform a lot of people are just skipping Banks allog together in their portfolios yeah yeah sorry no I was just going to add to that before you come in sa that your concern is valid the fundamental concern about uh deposit growth is not going away anytime soon soon yeah and I think yesterday what we've seen is well banks are attempting uh you know participating it's the heavyweight banking names that are not being able to pull through PSPs on the other hand I think are showing some early signs of buying that's emerging once again in that space But if you look at the fno data and I do agree that the markets are looking slightly tired I mean we've had 14 13 straight days of gains that's never happened in the history of our markets but currently when you look at the fno data what we are seeing is that call writers are significantly outnumbering put writers this usually means that the markets May s spend some more time consolidating but this time around with a little bit of a negative bias as long as 25,000 300 is not crossed that is going to be your immediate sort of level that the polls will want to take out for further upside on the index on the downside no one is talking about any big corrections I think those days are behind us for now 25,000 does act as a very important level of support in terms of the Nifty in terms of open interest as well 25,500 and 25,700 has seen maximum call oi now why is this important because over the last few months the range has been moving upward the markets are making higher highs lower lows which usually is a positive symptom in that sense for trade uh in terms of what happened yesterday it's rotational n has already highlighted that for you fmcg and it did quite well Metals saw some selling Pharma saw some profit taking Banks we've talked about how are not being able to participate uh psbs on the other hand are seeing some buying interest that's emerging so that could be one space I think I would watch out for over the course of the next couple of days for some positive traction in terms of buying interest well that's of course what we have in terms of uh the broader Market but I think the bigger story remains stocks and our markets with earning season now behind us a few weeks the news flow has slightly improved brokerages may not have been coming in thick and fast but uh lots happening in terms of counters to track one on top of my list this morning uh while we will talk about the IPOs and everything that's happening there from Mutu to the Bajaj twins but a quick mention of H and I think this one's important because stocks been a little lackluster uh we know with all those conversations about taking profits off the table if you're a defense uh stock owner this morning I would imagine HL to get a little bit of a gap up because these counters have also been underperformers the company has sold 240 Aero engines to the Indian Air Force this is coming at 26,000 CR rupees so that is the revenue uh or that is the total sales value that HL has sold these aircrafts to the Indian Air Force it's under the buy Indian category so this is a big one the stock should be getting an upward uh move on this news FL not sure this was already factored in in their aut book or of course guidance but for now sentimentally definitely a positive um I have another one it's beenin the season of fundraising like we've talked about this time around it's Brigade Enterprise you know a lot of those real estate companies have also been hitting the markets we had Prestige last week who talked about a massive fundraise plans of 4,500 crores this this morning it's Brigade Enterprise they are looking to raise money as well they've set a qip price of 16 1164 crores which is at a 55% discount to yesterday's close I'm not sure about the Quantum of the size of this brigade Enterprise fundraise but this one is going to be an important one to track the stock will react and of course the supply will more than likely get snapped up another one to add to exits is Medi assist Healthcare Services now we've seen a number of the promoters exiting their stake in Medi assist after its recent listing uh this time around it's promoter besare Indian Capital which HS hold shares with 550 crores uh they will look to sell this through a block deal and the shares are again at a pretty significant discount a 7% discount to yesterday's close the stock was up 5% in trade yesterday but this morning wouldn't surprise me if you get a gap down but uh that comes in with a disclaimer we've had qips block deals uh fundraising at discounts and the markets have snapped it up and the stocks contrary to uh your textbook knowledge or information have moved in the opposite direction which is upward yeah you can't you can't really tell with the qip action just on uh on on Brigade just overall one thing on real estate top performing index last year has been in the complete Boondocks for the last several session and interesting to understand what's happening there fundamentally or is it just fatigue setting in all right three stocks that I'm looking at K Tech definitely one of them and that news that cabinet decision news came in at the very very last minute of Market close yesterday so you might see um you know a bit of a runup uh today coming in you had a selloff yesterday but you could see a bit of a runup so now here's the thing in the q1 corn call the company had talked about setting up this plant in Gujarat it's going to cost them about 3,300 CR rupees the cabinet has approved the proposal for this new semiconductor manufacturing plant in that's the important detail over there it has a capacity of 6.3 million chips per day uh revenues from this unit uh will start flowing in by FY 26 now the company has already four M with customers but they actually want to see the plant before they ink the deal and now they have to go ahead from the cabinet for that plant the company expects revenues of 3500 CR by fy3 from the semiconductor business so now why this is interesting is because India's push to make semiconductors domestically is something that the government is full steam behind so that kind of support will definitely be there we'll also be speaking with the company later in the day to figure out whether their revenues do flow and what ads uh to this apart from the four M they already have yeah I mean you know and just the other piece that Morgan Stanley for example in the note have laid out for K Tech uh they say that one that this pending independent of the price targets Etc they say that the pending government approval remain an area of investor concern and now that the approval has come presumably that concern goes away just a quick oneor the osad the PCB approvals are still awaited yeah yeah but for osad itself that's the point so the management has said that the osad Venture could Garner incremental potential revenue of 3,000 to 3,500 crores by fy3 and that the company's already received positive indications from four large customers you were not there but the management confirmed they moved the plant from Karnataka to Gujarat because there was a delay on approvals and they already have three confirmed clients who shown interest and and they've signed the dted line so Morgan Stanley is agreed with what the management told us no no no I'm not saying yeah what I meant I'm not saying Morgan Stanley is saying something new but for Ms all of these points become a very big factor of optimism for the for the for the broker so that's that's important because uh the question is whether the street has already factored in this uh and and at the end of the day the fact that ashni vnav the union Minister has come and said it in the cabinet meet and that tapa has come I think will be a bit of a bump up that's why we're marking this as a thumbs up for the company nmdc not so great that's a bit of a thumbs down they received a penalty order of 1,620 crores for alleged transport of iror without a railway transit pass I'm not sure how that happens but this is part of their business update uh they also say in their business update that there's a 10% decrease in total production in August uh there's an 11% drop in sales uh so that will see a bit of a negative reaction perhaps sterlite Tech now there are two ways of looking at this they've um settled a dispute with data management center in Singapore for $467,000 or uh over there so that's a payout from their pocket that's a negative but look at the claim that data management center was making that's about four times so maybe just or actually even more than that so maybe the the fact that they've settled for lesser could be seen as okay for the company but that there is a payout after all will perhaps be seen as a negative yeah um a interesting names out there I have just two and one is actually a brokerage note on a stock that did really well yesterday which is Gujarat gas but first up adani green uh and that's a very interesting one because uh while the stock was up and active in trade yesterday um the news flow is positive uh the there's a JV agreement with total energies Renewables uh and as a part of the JV total will invest an additional $444 million to form a 50/50 JV which will manage 1150 mvac portfolio including both operational and under construction solar assets the with the standard disclaimers of course that the Dan group owns NDTV um and you're watching NDTV profit the fact remains that there is this vot of confidence by total because they were an earlier investor in adani green way back and they have continued to invest and this latest round of investment marks a large Mary go uh large Mary organization enhancing their exposure uh to one unit so it could have to any unit it's a positive even for this one maybe that is what probably one reason why the stock was marginally active in trade yesterday itself but uh no no not uh not Amazon KES I'm talking about uh thank you I'm talking about Rani green and the other one is Gujarat gas now the stock was up 12% yesterday and different brokerages Rie differently I thought the Morgan Stanley note wherein they' have come out and said that the bull case for Gujarat gas is very positive is interesting so they say that the merger with gspc implies a potential upside of 70% to earnings and 20% to Nav Now this is factored in in the stock because it's a very expensive stock and their base case price is about 650 only versus a current price of 680 but they say that the power assets could add to further rting and their bull case Target price has gone up so they've raised the bull case for Gujarat gas and they say that if everything works out then the bull case Target price is 899 so clearly some people saw the positives yesterday in this one I was surprised really with the price movement but uh well Morgan Stanley seems to agree with the price movement and if everything works out the bull case could actually be is very high and the stock could move higher who knows just one quick one because we've talked about this and we will move on to Bajaj housing in a minute but it's Premier energies I don't know if either of you have looked at the subscription the subscription was 75 times in the 3 days that the IP was open to subscription and we've had fantastic debuts on the exchanges in the last couple of months but Premier energies is expected to list at a 110% premium to its offer price 937 rupees in the gray Market 450 rupes is what people would have gotten at if you was or that was the upper band of the subscription but this one I think was Stell we've seen 40% 45% 60% but at 111% upside on the get-go at 10: a.m. this morning I think the promoters are laughing their way to the bank or will be laughing their their way to the bank you know I just I think we'll just pull up uh what sebbi has said yesterday on IPOs uh just ties in well with what Samina has just mentioned and before we go into har on the hottest IPO on the Block uh so they have a paper out yesterday on investor behavior and just talking about the fresh IPO today as well Saina 54% of IPO Shares are sold within a week of listing individual investors are selling 50% of a lotted shares within a week so out of that overall picture of 54 mutual funds sell only 3.3% shares within a week while Banks sell nearly 80% of shares within a week so you know that's also interesting a lot of the listing gains story still very much exists and and why not I mean here's here's the deal right I mean look at the yesterday Sai arind colleague did that uh research about how FBI have put in dollops of money into primary markets so if the primary markets are active and kicking have not reached but they have an update too but if primary markets are alive and kicking and people are making money on the listing day flipping it is fine I mean if you go in pre-listing don't you get locked in for 6 months n pre IPO yes but if you're applying on a retail side yeah this is just also on this a quick disclaimer just on Premier energies right because this one is a niche player in the Solar business which is great and it has some very Marky institutions of come on so unlike the other ones that we've seen this one has icci JP Morgan kotak mindra Bank and a couple of I think if it's if I'm not mistaken a couple of big Banks from Singapore as well have B Pig on this so this one is I think also fundamentally a solid company so while there is that froth but I don't know I think Premier energy is might have a fundamental story fro is also maybe subjective to that point all right one uh just just sorry just I have we talking about subscription guys just before you go there's an subscription that happened yesterday travel and rentals it's an IPO update that came in yesterday 12 CR IPO received applications for 7,700 crores this is Yamaha show rooms that they I travel and rentals but not resourceful 64 four times or subscription this is some crazy stuff happening in the space so now we've talked about all the frenzy bit here's the solid one har is joining us he's been standing by for a while har uh the IPO Bajaj Housing Finance we have the price band we have more details tell us well yes let me first start off with the basics with regard to where Bajaj housing Stacks up uh in terms of the IPO itself it's a 6560 CR rupee IPO 3560 is the fresh issue Bajaj Finance which owns 100% of the company is set to sell 3,000 odd CR and now we have the price band 66 to 70 rupees a share and to that I'll add the valuation picture as well but more details uh well shareholder reservation uh promoters uh those who own or are shareholders in the promoter entities 500 CR is the shareholder reservation but you need to hold the stock or the share in your mat account before the 30th of August to be eligible for this now uh bids for anchor investors to start 6th of September this is we're moving on to dates 9th to 11th is when the IPO will be open for subscription 35% reserved for the retail category in terms of what stands out for this company AUM has grown at a 72% kager from fi8 to fi 24 maybe on a lower base but 72% on an AUM size of almost 1 lakh CR is extremely strong currently what's the current growth clip around 31% which is also the strongest in the industry even now as we speak the current AUM as I did mention is 97,000 71 CR rupees as of q1 fy2 in terms of Pat well I spoke about AUM growth 72% kaga Pat has grown at 136% kager possibly uh a sign for for times to come 136% growth annualized now just in terms of roas they're on an improving Trend and the current Roa stands at 2.35 or 2.4 odd per. that's where the Roa currently stands at let's switch Focus to asset quality it's got best-in class asset quality currently gnpa is at sub 0.3% nnpa is at just about 0.1% Capital adequacy continues to remain strong despite this listing which will further add to the capital adequacy and growth clip in terms of bandwidth lastly with regard to valuations baj finance trades at 5.5 times baj housing uh the the current book value per share roughly computed by us is 19 rupees this is pre money this is pre- listing and at a band of 66 to 70 rupees a share it's currently priced at 3.7 times Price to Book so very interesting one well in terms of where peer valuation Stack Up baj housing at 3 .7 but look at LC pnb and Canin homes cheaper some slightly in line or more expensive will be an AAR AAS aptus and home first that's how they're all stacking up in terms of peer valuations as well thank you for that Harish this is a big one and the Street's going to be quite excited about it along with this is also mut's uh subsidary that's got uh IPO approval to raise about 1,000 or crow that could be one MO stock uh to track in early minutes of trade a quick uh check we talked about H and how they've bagged a significant order order uh from the Indian Air Force remember H's order backlog had stood at 94,000 crores and the at this was at the end of f524 now bringing it to about 1.2 lakh R after this big order win we've got anushi standing by with more on this anushi uh with this expanded backlog HL now has a strong Revenue visibility of 3.8 times it's TTM revenue is what I believe uh couple of brokerages like antique have already given out an aggressive buy call on the stock you want to walk us to the significance of this order and what it means for its Revenue uh you know Revenue visibility hey morning s so as you mentioned that it's quite a large order wi that we are looking at for H first let's just talk about the order in general what is this order pertaining to so H has received the government n to procure suco AO engines and this is at a cost consider ation of about 26,000 crores that we are looking at and these AO engines order that we are seeing is for about 240 AO engines for procuring these Aero engines um again this will also have a 54% of an indigenous component as per the defense defense um in general they theme to bring higher indigenous component from year on forward um about so this aircraft also that we are looking at so 230 mki it's a twin jet multiair superiority fighter aircraft which is developed by the Russia suco and built under license by H now if you have to look at the delivery updates for this 26,000 CR that order that we are looking at deliveries are expected to start from next year onwards and will continue the supply will continue for a 8year period from there on um coming to the order book performance as you pointed out 94,000 CR of an order book that we looked at at the end of fy4 and they expect that this outstanding order book by FY 25 and should be anywhere with 1.2 lakh CR of a bracket range u in this also order book that we are seeing 47,000 CR of orders are expected to materialize in this onee time frame itself coming to the valuations also the other aspects of the business if you look at the trailing P that was about 41x while in FY 25 to 26 it more or less remains in the similar range of 40x for f25 and 26 about 35x it goes down in this year onwards um coming to to the stock performance H as in the defense um holds pack has been one of the strongest players while the one month return it's been 2% the defense sector in general in this one month has been under pressure if you look at the 6 months and the one- year return that has been on the stronger side 46% of a return in the last 6 months while in one year we are seeing about 136% of a return coming to the last piece is the analyst recommendations he pointed out the aggressive strategy of antique having a buy rating but overall if you take a ous view 12 hold about a buy rating while one has a hold rating and um two sell rating so which implies about a 12% upside Potential from the current levels that we look at so this is the whole gist on what is happening in Hindustan Aeronautics how significant this order is and the company's total order book which stood at about 94,000 CR at the end of FY 24i it is an important one in fact antique has also said that uh it is H is L valued despite a 66% jump that the stock has seen in the last one year they are expecting a potential multi-year double digit earnings growth on HL and this order is of course taken the order book to 1.2 lakh R so it's a big win for HL hoping some uh and you know with these defense talks if you one counter that does well the whole sector usually picks up right so and and and this is coming on the back of a month of severe underperformance right defense has been very very sluggish on the Sal side in fact um yeah yeah so and and and so because that is happening you need positive triggers now we all know that these orders will be spread over multiple years so on so forth it adds to an order book which is already large everything granted but there is a whff of pessimism out there this kind of thoughts that a little bit for Hal at least let's see if it gets pass my only my only point to that is where that pessimism is coming from NJ is the size of Defense allocation in the budget uh which uh to a lot of players in the industry and those who watch it felt that it was not as much as was expected now that overnight is not going to change a lot of these orders have been put in place from before so uh perhaps there will be bigger triggers needed to fundamentally change that direction also with h I think one good thing that stands out in this one is the if has set that they're not very happy with H's speed of execution so they've actually urged HL to go out and ensure timely execution of this big order win so while this will be spread over a few years HL is accounted to watch this morning and if I had to think about this I think BDL and the rest of the sector also could see some buying on a Sentimental impact but keeping the focus on the cabinet and its approvals uh the cabinet has approved a proposal to set up a semiconductor manufacturing unit worth 3,300 CR rupes in guat K semicon will set up a plan with an expected capacity of 60 lakh chips per day the chips produced at this unit will be used in industrial Automotive electrical Vehicles consume Electronics Telecom and mobile phones amongst others let's listen into that bite semiconduct importance indim first phogs Manufacturing research ucation universities 113 unities semiconduct Advanced students TR resarch we already training Talent Fab atmp research and development design all right um time for an NDTV profit exclusive India is likely to announce by mid September a third iteration of a successful EV subsidy scheme that's Fame 3 with stepped up adoption of Electric Mobility in the world's third largest Automotive Market thear joins in with more details by the middle of this month in September uh there may be some good news for electric vehicle makers as the fame 3 subsidy scheme may come into effect that's what sources are telling us uh what we know so far is that all stakeholders be it in the government the ministry of heavy Industries the finance ministry uh Niti AOG as well as the Auto industry lobbies are more or less on the same page as far as a roll out of the fame 3 subsidy is concerned uh at at this point of time we do not know the outlay for the scheme uh there's still a bottleneck uh they're still trying to align uh the process of registrations and the outgo of the subsidy eventually to the uh to the consumers uh that still needs to be figured out uh but why is this important so to speak uh remember Fame to in The Last 5 Years From fi20 to f524 actually kickstarted the adoption of electric 2 wheelers in India that gave rise to the likes of Ola uh it allowed Bajaj Auto and TVs Motors to enter the space and at this point of time I think more of due to actually Fame 2 the penetration of electric two- wheelers right now is about 5 to 7% of the overall two- wheeler industry uh what also the uh after Fame 2 expired in uh on 31st March of this year a stop Gap arrangement of emps 2024 scheme came into play that had an outl of 500 CR rupees Fame 2 itself had an outlay of 11,500 CR rupees and it affected 13 lakh electric vehicles uh over the course of 5 years so essentially we looking at at least that kind of an impact from fame3 as well well this could be an interesting one too to focus on but as we gear up for trade today with the implied open suggesting a flattish start it pays to try and understand what is it that the that the derivative markets are suggesting in the session today aam as usually is waiting by to tell us that aam uh what cues good morning uh good morning NJ well uh at the moment we continue to advance the Nifty making the advancing for the 13th straight day and well closing at a new life High uh but well underneath we're now starting to see a little bit of weakness in the broader market indices and that perhaps could be a little bit of a problem it could potentially lead to some consolidation a correction though is uh a little less probable at this point in time but you never know for now we are continuing to see addition in open interest towards the September Futures 7% added towards what potentially could be seen as more Longs and the bank Nifty again you know the the that's where we haven't seen too much change as far as the open interest is concerned in fact marginal change there even as the index advances by around. 2% now as we move into this this week and you know we have about three sessions left before we see the Nifty weekly options expiry what we are seeing at the moment is further writing around the 25,500 25,700 calls uh and that particular 200 Point range could potentially well you know will serve up as a little bit of a resistance Zone and on the lower end it is essentially 25,000 where we're seeing a lot of put writing coming through and that could potentially also be a little bit of a support in the near term now let's not forget that technically we are in Uncharted Territory which means that there potentially couldn't be any resistance at the moment but based on the kind of options writing that we've seen around 25500 25700 we could potentially see a little bit of resistance there yesterday was a day of trade where we saw one gain of a one loser in the broader markets and in terms of the those belonging the Futures again some weakness coming in Hindustan copper ABB and Dr to ready so we saw fresh shots there among stocks that saw you know unwinding decline in open interest there was long unwinding for names like sun TV and bamini and perhaps dalmia bat was one of the few counters which in fact did see advances uh coming through with short covering coming on but uh that said let's getting an expert for an opinion here as to what we can do with these markets so we have Amit go of Amit Ventures who's joining us on the show Amit good morning thank you so much for joining in uh let's start off with your view on the benchmarks and well an option structure that you are deploying at this point in time hi uh good morning aam and good morning to all your viewers it's always good to be back on this channel uh the way I see the structure in Nifty as well as the bank Nifty which are the broad indices is that we are structurally bullish we have been you know uh giving a smart recovery from the lows which we created in the early part of August on account of yan carry trade and wind but as you rightly pointed out that we also are now seeing some signs of uh you know fatigue getting creeped in into the uh rally uh Nifty and Bank Nifty both uh if you look at the Candlestick patterns have been kind of showing signs that they would want to consolidate here probably a Time correction with a slight downward bias on both indices is my view uh for Nifty I would wait to go long it's still a Buy on dip opportunity here so any any dip towards 25,000 with the maximum oi on the put side which is the support if it comes there then I would like to uh build a long structure there I do have however a trade on Bank Nifty uh for tomorrow's expiry uh so if you allow I'll explain that to you Amit right so uh in Bank Nifty if you look at the uh price action uh I'm I'm fairly while the structure remains bullish but I do see as I mentioned that there is some amount of weakness creeping into it and hence I would like to play a very shortterm uh bearish put butterfly in which which is basically known as a broken wing put butterfly with a bearish view in which we will sell 51,000 put two lots and buy wings of 51,500 and 50,800 put one lot each the max loss in this trade is calculated to be about 2400 rupees and we will aim for a target of 2500 rupees with a margin of 33,000 the logic here is if you look at yesterday's price action the open was equal to high which is a sign of you know uh some resistance building up at the uh highest open interest uh call strike which happens to be 51,500 from where the price has taken some bit of resistance so I'm playing for the downside and if you look at the uh put on interest the highest put upon interest which is at 51,000 so if I were to look at the path of least resistance it happens to be on the downside hence I'm playing for the uh downside for tomorrow's expiry just a followup question here Amit because uh you are buying just one lot against two lots sold um how do you manage your risk in this case you have suggested that the maxim that the maximum loss that you'd want to Bear is around 2400 rupees per lot but can you give us uh you know a little bit more in terms of how you would manage risk here uh so this is a broken wing butterfly in which we do have two lots of uh put buying uh the strikes are 51,500 on the upside and 50,800 on the downside uh while selling the 51,000 put two lots so this kind of gives me a imbalanced uh wing with closer wing on the downside so what I'm expecting is if there is going to be any sell off on in the next couple of days I'm at least assured of some profit on the downside so the risk in this trade is only on the upside with a maximum risk of it's a defined risk strategy with a maximum risk of 2400 rupees hence the calculation of 2400 rupees on the downside on the upside yeah yeah right am that was my Miss actually I did not fully comprehend it but yes Point well taken uh let's move on and talk about the other stock that is also on your radar Amit yeah uh so I'm trying to you know move away from where the action is Gujarat gas USL goo Finance right uh I'm trying to look at when I look at the chart of Reliance uh which is uh you know while it has also mimicked what Nifty and Nifty and the broad indices have been doing but uh if you notice reliance's chart it does have a pivot resistance at about 3200 and a pivot support at 2900 levels with the market at 3,000 uh it has even Steven gap on 200 points on both the sides hence I would like to play a non-directional setup simply because the logic here is the subdued price action over many sessions the oscillators indicators pointing towards a neutral stance with a lot of the oscillators giving a neutral uh indicator signal and the concentrated oi around the ATMs suggests that Reliance would probably struggle to give a breakaway move on either side given this View I would like to set up a short strangle with a neutral view Str for the 26th September expiry wherein we look to sell the 3200 call on the upside and 2860 2860 strike put uh one lot each on the downside the rupee stop- loss in this trade is going to be around 5,000 and we will aim for a target of a profit Target of also 5,000 rupees given a giving us a 1 is one RR with a margin of 1 lakh 120,000 rupees okay so a simple and straightforward well short strangle on Reliance Industries with the expectation that it remains range bound Amit on that note thanking you for joining us and taking us through your views and of course giving us these two option structures to work with uh but uh do remember that we have started a new query section on the fno show as well so if you do have any queries regarding potential bets that you want to place or if you need opinion on well bets that you've already placed out there well don't forget to Whatsapp your queries to us on the number that's flashed on your for you for you on your screen and with that it's back to you Samina thank you for that and that's at 10:30 a.m. is when we take up those queries on the effo show well uh the implied Nifty is indicating to Flat to slightly uh lower stop this morning we said that to you remember the called writers have currently outnumbered the put writers on the street which usually means the markets may spend an extended period of time consolidating with this negative buys it's been 13 straight days of gains and you want to be mindful of that there is signs of tiredness and fatigue that are obvious on the street and I think also what stood out yesterday was broader markets uh you know have been struggling so they've not been able to do as well as the index or the nifty50 so leadership has largely been coming in from the Frontline space but it's always about stocks at this time of the day let's move on to one sector that's catching our attention and that's the real estate space Yama has come out with the note on LOA suntech where they do maintain a positive outlook on these counters pit joins us with more on that P um does it look like it could be a day where real estate stocks could be bought on back of n's report well definitely you know a positive note coming in from noama and specifically they're talking about the Mumbai real estate market uh the numbers are out for August specifically and they have mentioned that you know the housing units registered in Mumbai are up 7% coming at roughly around 11 ,600 OD units now the total value of this is up 31% to come in at roughly 17,700 R cres now for the year to date from year to date to to today you know the registered units are roughly around the 1 lakh Mark around 96,000 units this is up 15% on a year-on-year basis and they are mentioning that you know healthy leverage as well as potential rare cuts are likely to you know improve sales in Mumbai going forward as well now uh this should benefit you know Mumbai based players they've specifically spoken about macrotech as well as you know Tech realy which is a buy for them while the other two companies are a hold which are oo as well as gri properties they have mentioned that rustam also might have some benefit going forward but overall this this report is on the back of the unit registration sales which com in on a monthly basis and it is positive on specifically macrotech as well as sunch today back to you I thank you for that U you know those are some of the brokerage notes to watch out for this morning Punit there with more on that but let's quickly take you through what is on NDTV profits watch list this morning and these are some of the stocks uh uh that could move or definitely have positive news for them so good for the company in any case KS the cabinet has okayed its semicon unit in Gujarat wellsan cop will be investing $100 million in US pipes matrimoni is to consider a buyback H will be uh seeing engine buys 240 engines buys for 26,000 CR rupees baj Finance um I mean there's no more benefit for baj finance share holders because that record date was 30th September maybe sentimentally uh baj housing IPO has come in with its uh price band as well whole bunch of other stocks which uh are on the red list to sell on steelite Tech they've settled a dispute in Singapore but that's coming at a big price and nmtc is hit with a penalty of, 1620 CR those are a few counters that could be seeing some selling in today's St of trade but we have with us B today SEI registered research analyst joining with a view on the markets rajit good to always have you on the show or rather it's always good to have you on the show uh a quick word on the index it's been 13 straight days of gains it's been a stable steady Market no volatile moves the Wix is under control the PCR ratio is in favor of the Bulls uh the one thing that stood out yesterday though is the number of call writers have outnumbered put writers do you feel like uh there is early signs of fatigue and tiredness and maybe for the next couple of weeks the upside on the Nifty is capped good morning Samina Tam and NJ uh good morning to you all uh and thank you for having me what I would like to say here is that we talk about fatigue we talk about the 13 sessions are already through uh each time we see the Nifty incrementally closing higher uh normal case it should have given at least a two to three sessions or at at the most four sessions of Correction even that has happened last month but this is not happening till now uh what I would say is that you look for uh look for this that if the yesterday's low is broken then there will be some weakness that is about 25 uh 235 if I'm not mistaken and once that is taken out on the downside then you can expect some kind of weakness s uh settling in normally Nifty doesn't give 13 up sessions in a row it doesn't happen but this time it is completely a different kettle of fish uh and I would say that unless we fall below the 25,000 Mark uh that is the 9 day exponential moving average level uh not precisely uh but roughly that 25,000 Mark is the very important level on the upside now suppose if 25300 which I have been referring to for quite some time 25300 is the lakman Rea if Nifty manages to get past that then there would be an attempt to scale up to even 25 400 or 25422 422 is the uh is is double of what was the June 3 High and the June 4 low so the total Excursion on the downside if you multiply by that multiply that Excursion level excussion uh uh range by two you get 25422 uh so that is that will act as a resistance and after that 25500 would also be crossed if 25422 is decisively taken out the next Fibonacci level would then be 25911 well you talked about food call ratio that is 0.7 Market wide as per today's one of the pink newspapers which gives all the data uh this shows that actually there is too much of call writing and not so much putot writing this is generally a positive sign for the market because people people are people are writing calls yet people see when it goes to 1.3 1.4 foot call ratio then you uh we say that the market conventionally that is the overheated market levels but this because it is going up in a trend and going up in a very regular measured kind of movement that is happening it is very difficult this kind of movement I have seen last year in cnx midcap we used to get Flav gusted by the kind of move that cnx midcap was positing at that point of time now uh even Nifty is behaving in that that fashion so instead of saying that it is too much on the upside maybe there would be a correction but unless 25,000 is broken this will be only an intraday correction okay so rajad if that is indeed the case good morning to you how are you U positioning yourself on the stock side um are there long calls or is there a mix of long and short what are you doing today I'm going long in two counters I I'm not going myself I I'm suggesting two uh counters in which long positions can be taken uh one is comments you will see uh kind of similarity between say Hindustan Aeronautics and commments Hindustan Aeronautics has something backing it that the semiconductor thing but if you look at cins the Ballinger band is constricting and there was an up Tick yesterday uh that's a green candle and now this kind of a situation gives a good rise where I can back it up in case of Hil in case of hell with with the news news item I can't say the same thing about comments but I think it is going to go up and the stoploss should be 3709 it closed at 3812 but I'm giving targets up to 3937 that is the maximum Target prior to that 3863 3889 and if 39 3937 is crossed it may scale up to levels like 30 uh about 4,000 3997 the second stock that I would like to um I would like to discuss is that Indus in Bank Indus in Bank posted a low say about a fortnite back and after that it has started moving up the significant event that has happened yesterday was the 200 day exponential moving average has been decisively crossed at least it's a green long green candle and it had a lot of buying in it and so I would suggest that one can go long in that stock Bank stocks did well yesterday but this was the best one in my opinion so I've given uh I'm uh uh advocating this 1417 should be your stop loss 1475 1505 and 1530 these are the three targets for industan Bank of course these are neither of the two are intraday calls I don't give Inay calls if shortterm Targets in both of them short-term Targets on both of them these are not intraday calls I don't know whether we got a view from you on Bank Nifty and we've been debating that for the last few few weeks now rajat we do believe from our understanding that uh we would require Bank Nifty to participate to bring the momentum back I mean the index has been doing really well don't get me wrong but for the big moves uh how well placed you think Bank Nifty is do you feel like uh it more warrants a long trade right now well even though Bank Nifty doesn't get as much uh as as much Focus as say the because Nifty is steadily moving up but if you look at it even though there had been a correction for two sessions and after that the last 10 sessions Bank Nifty is actually on an uptrend and this uptrend has begun with a morning star kind of a formation which is a bullish formation and in the process it has crossed all the short and medium-term moving averages like 50-day 20day and 9 day exponential moving average now the immediate level to watch out for or if it manages to stay above 51400 51 650 will be the Target and if 51 650 is taken out then we can we might be headed towards say 51900 to about 52,000 but I must say that since the trains are either 11 sessions in case of nifty 13 sessions up there could be a sharp two- day 3-day Corrections that can happen at any point in time so be nimble footed or Nimble fingered I would say and then you manage your trade okay s aaral also joining us on the show this morning good morning to you Sunny he is head of fundamental equity research SBI cap Securities sunny I want to start by asking you about the autop pack now yesterday it was all a some good some bad depending completely on the numbers that have come out out but now moving beyond Auto numbers uh is this a space where you see a further upside anything you're liking in the auto pack or you think it's time for it to cool off for now yeah good morning everyone good morning Tam uh I think yes within autop pack what we are witnessing is that two wheeler is a space where uh uh there is an healthy uh volume growth during the last five to six five month and at the same time the Outlook continue to remain constructive on two wheer side so I think two wheeler is a uh place where one can hide in Auto sector uh within two wheer also I feel companies like hero Moto C a very great set of number back by likely Improvement in performance in the month of in the qu September quarter so hero Moto cop our top pick baj Auto again back by the launch of new CG vehicle which is getting a very good response three-wheeler portfolio doing well uh export is recovering so I think baj Auto is our second big TVs motor also again firing all cylinder but slightly there is a concern on valuations otherwise what I feel is that in terms of financial performance or operating performance TVs motor is also doing uh equally good but in terms of valuation I think it's fully pric in and again the same sector can be played through Auto anary name which are focusing on two wheer so like AK Auto which is a predominantly two wheer Focus company similarly endurance technology which is again a predominantly play on baj mjal which is again a kind of play on hero so few Auto and name which are predominantly linked to two whe sector so these are the few names which we like among the auto and auto name okay by the way the news flashes just went away s thanks for that the news flashes just went away but Medi assist a large trade has taken place already 13.5% Equity it was expected to happen at a discount uh now we need to I just want to you I wish the flash was there but just to try and figure out the pricing at which it has been done4 I think okay 1164 no um no sorry pardon me that Bri's qip yeah Medi assist was expected to happen at a 6 7% discount um we'll try and figure this out yeah 135 70 which was a 7% discount so I think at 617 so they have done it at 617 .85 only if I'm not wrong wow that's happened at the current price so pretty interesting actually just before we go to rucha who is waiting by Sun a quick word on Medi assist there's a large Equity that was expected to change and has happened has presumably happened at the current market price do you track this one fundamentally uh sorry I don't track actually but I like the phe where in the entire uh health insurance segment where in the media is work on a TPA side so I think the future is bright for the entire sector but in terms of current number and what is happening in the company sorry I'm not updated on that current I love okay well so that's medis let's see how it opens up post this large trade being done already but there are a lot of other stocks that you need to keep an eye out for my colleague rucha Johnson to tell us about some that U should be in Focus this morning good morning rucha good morning n I'll start with adani green energy now the company has approved the JV pack will total uh energies Renewables for a 50/50 JV where total energies will make further investment of 444 million now uh the new JV will house 1150 uh megawatt alternative current which is a solar power project now this will be a mix of both operational as well as under execution solar Assets Now moving on to gensol engineering uh this company becomes the lowest bidder in consultum with Matrix gas for a green Hydro energy project which is worth around 164 CR of rupees now this will be India's first biomass green Hydro energy project is what the company mentions uh moving on to Brigade enterprices it has approved the qip price of 11647 per share to be precise and this implies a discount of around 5 and 1 12% uh to yesterday's close but uh uh moving on uh to mut Finance the micro Finance subsidiary Bellar uh has received approval from the Market regulator uh to launch its IPO uh the company plans to raise around 1,000 CR now this will be V fresh issue and 300 CR will be via offer for sale uh but moving on to Medi assist where 135% of equity change hands uh in pre-market large trades um uh but the shares will likely be sold at 570 rupees per piece which is again a 7% discount to the current market price thank you for that uh are those whole bunch of stocks you want to watch out for Med Assist block deal has already gone through 13.5% stake has changed hands just before uh the markets open up for trade we don't have the exact pricing the expectation is it comes in at a 7% discount to the tune of at at a at a price of 570 rupees a piece and the promoter was looking to sell 540 crores through a block we'll take a break implied nift is indicating to a very flat start this morning we'll take you through all that and more in a few minutes to stay with us [Music] [Music] [Music] [Music] [Music] [Music] [Music] welcome back just a couple of minutes to go for the first pre-open Rider hit we're speaking with rajat BOS and sunny Agarwal this morning and telling you what should be on top of your radar rajat let's start with your take on H and extended to some of those defense playes H has a bit of good news today uh we'll have to wait and see if it really moves the stock fundamentally but um uh in terms of other sort of defense companies anything that you like right now yeah I would say that it is better to bet on H because as I said uh just like commens it's Ballinger band is constricting and the 50-day moving average which is uh which is around say 4809 if that is taken out by H then definitely you will see a sharp up move because whenever the Ballinger band uh constricts it means that volatility is low and generally it it opens up with a big bang move either on the upside or on the downside that kind of a thing there is f for that so if that can happen it will happen today uh so I'm expecting that 4700 will be crossed and uh it will cross the 50-day moving average as well so there is a good upswing that can happen but whether you will be able to enter that or people will be able to enter that at lower levels that is a big question okay what about Gujarat gas after all the fireworks yesterday rajat and of course gspl see regarding Gujarat gas I would say that Gujarat gas this is what I was trying to refer to in case of Hal see what happened yesterday there was a huge volume and it began with a gap up opening and almost or rather even bettered the earlier High posted uh say about a month back or so that kind of thing once that happens you know that the cream has been lifted so here if you are a long-term investor then you can enter at current levels otherwise wait for a decline generally this kind of a move gives a bit of decline you have seen that in many counters in the recent past like tataa Technologies which moved up from uh the lower levels bottom levels with this kind of a candle and then there had been correction same kind of Correction might happen here 650 to about 670 would be a good entry point if one can get that sun uh do you have a word on Gujarat gas and GSL both the stocks were in a breakout yesterday on the back of the Dem merg brokerage up brokerages are up the Dem merger plans have largely got an uh you know a thumbs up from the street at least even the brokerages may not have aggressively uh raised their target prices on these counters yeah definitely the entire restructuring exerise is positive in medium to long term but again one has to keep in mind that the restructuring will take at least 12 to 15 month to get completely over and then post consolidation we will see the benefit of mergers flowing through over the period of next 24 month so yes if somebody has got a medium to long-term investment Horizon definitely it's a positive move for the share shareholders of both GS as well as Gujarat gas short ter yes stock has reacted positively and I believe that maybe post cool off one can add in the portfolio but again one has to keep in mind that the merger exercise will take at least 12 to 15 months to get over uh so in term definitely there are multiple synergies which will emerge out of this entire merger as well as Dem merger process where is the transmission business will get demerged and will get listed separately take a quick call from you on a stock that was a consense by call across a lot of uh uh technical analysts and that was ITC yesterday fmcg is managed to hold itself quite well in trade yesterday too uh do you think ITC or any of those fmcg names could make a good trade for the near term is it for me is it for me J that's for you okay ITC definitely looks good if it manages to get past 512 and sustain above that then you can expect at least a move of around 20 to 25 points on the upside and uh yesterday's closing uh should be your stop loss that is 510 uh but I'm saying that first see if it manages to stay above say uh 5002 513 kind of levels once it does that then you enter and put a stop loss below 510 mhm okay well um that would be um an interesting one now some stocks and I know it's early days as yet but maybe the Dan greens and the canes and the medi assists of the world are are reacting so individually adani green flat as flat can be though gain stch about 1.65% Med Assist once the deal is done done about a couple of percentage points so maybe closer to the price because we don't know the price as yet but the expected price was about 570 about a 6 7% discount so these are a few to certainly um keep in mind we're going to be talking to Kan St actually we talked to them uh last week um and they confirmed some of these but now that they they've gotten the final approval and with brokerages saying that this removes a big investor overhang could be an interesting one to talk about in the session today as well uh rajat to you first some of these stocks have really done well but every single point of time I remember K Tech was expensive at 2200 2300 then went to 3,000 was expensive currently at 4700 because the earnings growth is backing it up how do the charts look Raj see the charts are suggesting that the yesterday today's move showed completion of Correction chances are that you would see this stock going up today and if it starts going up then expect the recent High to be taken out because it's chart patterns over the last few months had been like that once the correction is over the earlier high is taken out and it goes further up so my target if it manages to get past the 5,000 level then you might see 5300 to about 5450 kind of levels Sun very quickly um KES or any of the EMS players Dixon yesterday was down about 4% do you have thoughts here kanes in particular but any other also yeah so I think the today's development of getting permission to set up oet facility definitely a well for K in a long term uh and it's a sunrise industry semiconductor as a sector I think obviously at a current jure valuation look expensive but if somebody has got a longterm Horizon definitely earning growth is something which will back this valuation in addition to Canes we like umber Enterprises and CMA sirma is grappling through problem of product mix where in the low margin products are getting sold the mix of low margin product is on a higher side that is L to margin pressure but what we believe is the second half is where we will see this correction and again the margin will bounce back for CMA umber again proxy play on consumer durable pack especially on as well as raway so umber is a one company which we like among the and in addition to Umber EP durable which is again kind of approx again on consumer durable especially on AC all these like okay all right harsh is joining us now for uh key brokerage call uh this morning harsh bnk Securities is what you've picked on gmr Power and infra well yes absolutely Tam you know very strong commentary coming here 38% upside is what they see on the stock they've initiated coverage uh in just in terms of the restructure airports has now moved out of the entity 2022 was when the restructure happened uh and now the core focus of the company is on energy EPC and transport these are the three areas which they'll continue to focus on in terms of where they're going going forward one installed power capacity currently at 3 gaw uh with regard to installation St as well as there are two gas based plants as well which they operate 1.1 gaw there as well uh that will likely see an active ramp up given the government thrust on uh Power as well so this will be a key beneficiary with regard to the government's power uh agenda going forward second with regard to Urban infra they operate uh three highways two on a bot and one on a toll based uh toll based kind of Revenue stream and all those three will also continue to drive numbers for them but growth of course in the infra segment not low either there's going to be a good thrust with regard to infra as well they've also strengthened their balance sheet capital structure uh currently now they had around $275 Million worth of foreign convertible bonds which have converted to equity and therefore puts less pressure on the financials uh the balance sheet is now cleaner in terms of the borrowing number and therefore bnk sees a cleaner balance sheet and good execution both on power as well as Urban infra to drive the numbers going ahead sotp of 184 rupees which gives around a 38% odd upside from here thank you for that hush those are a few of the stocks gmr power already reacting to bnk Securities note the stock is up 3% in pre-open rate a whole bunch of other names that let me see activity H is expected to see a 5% Gap up this morning so it's a big move coming on HL after many months of selling off uh I think the day is back today when you see these defense counters to see you know late or even double digit gains in trade so HL is looking good GES is looking good mgam is looking good uh vidanta is also indicating to a positive start BDL uh not too far behind insurance companies Z anything in the insurance pack that you like they have sporadically be uh having good days in the last couple of weeks at least rajat uh yeah he's just looking at it I would like to talk about HDFC life HDFC live uh yesterday try posted a new high but then after that it came down but chances are that you would see another bit of attempt uh to past the yesterday's high which was I think 754 1 755 to about 760 is crossed you can see 795 to 800 uh that is the kind of thing uh it is looking bullish because the nday exponential moving average has not been tasted in either HDFC life or even in other life insurance counters they look pretty good so there is uh some bullish trade out here in the Life Insurance SP okay life insurance looking good this morning so is uh defense we're seeing Auto also looking pretty decent this morning sunny I just want to get a take from you on um and we've spoken about defense but just a little more in detail because look at a bhat dynamic Garden reach coaching Shipyard mazow HL is okay about the news and and all of that but if you had to pick among these do you think that there is a sustainable upside or is this the story of the morning or story of the day I think uh after long time flurry of orders for all these uh PSU defense name and that's creating a lot of excitement uh I would like to stick with the large cap names like BL NHL among the PSU defense side on shipping side definitely um coaching Shipyard is something where relatively Valu are favorable and among the private player in the defense space we like companies like Zen Technologies which is growing by lip and bomb and companies like dcx dcx system which is again a small cap name also want to get your take on the whole semiconductor play and uh kan's of course in Focus today but Dixon some of those other players uh is is this a a fresh sort of leg of investment and upside that we could see remember all of these companies will perhaps start seeing actual revenues from the semiconductor business only maybe 2 years out is this a time to build positions there yeah definitely I think uh very few projects have been approved as far as semiconductor is concerned so tata's semiconductor plan that is in a uh unlisted entity uh similarly cromton yes that's in listed entity CG uh yes recently got an approval and then smaller company like R power and so on and so forth yes you rightly pointed out that the numbers are still 2 three years away uh so right now uh all the companies are in the capacity building phase and actual number delivery will come after 24 to 36 month but having said that early more Advantage is something which this player will enjoy when this production kicks off in a full swing and definitely it's a right time to accumulate gradually uh all this name in the portfolio those are a bunch of semiconductor names of you coming in Dix seeing a little bit of flattening out after yesterday's sell off in trade well you also the big listing that's lined up at 10:00 a.m. the markets will be excited to see how Premier energy opens in trade 100% Gap up uh from its closing price is what the street will be working with we do have two more minutes rajat but just before I know you don't like to give trading calls that are too short in nature but uh for the fun of it uh One stock for an intraday trade well I welcome it today because I have a stock I think it will be dear to you too that is adani green energy I mean uh the reason behind that is that see this stock has been moving within the moving averages that is 920 and 50 day and on the upside uh it is actually tested it has completed it short some correction it has moved up to the Ballinger band upper boundary chances are that you will see good movement Happening Here pre-open is 1947 as I see but I think it is headed for 2,000 plus levels and it can even move up to 2150 kind of uh levels on the way up okay well standard disclosures the Dan group owns NDTV and you're watching NV profit um and um there is a news flow on adani green of course which is the JV with total where total is going to put in some money but remember the stock had gained 5% in trade yesterday so that's having said that uh the pre-open rates suggest specific pockets of strength and especially stocks with news flow likely reacting to that news flow as eviden in the pre-open session already the question is can Banks support a further Nifty up move on a day in the South Korean inflation has come in below expected and has spurred some of those markets it's a flat start banks marginally in the red actually even the Nifty or the sensex just bobbing between the red and the green hardly any moves there m caps and small caps also should come up on your screen very quickly because there's nothing on the large caps quarter of a% for the midcap space and the small cap index will come up on your screen about half a percent uh you know let's pull up the heat map uh and see what's moving in what's not so Even Stevens the top loser IC Bank half a perc LTI baj Finance baj Auto yesterday's big Gainer Bajaj Finance just pulling back a little bit but no big losses but more green what about gainers HDFC live Sia Asian pains indal Co Sun Pharma is it my belief or is that a bit of a defensive Bend because you see Pharma in Sia and Sun as well as HDFC life and Tata consumer out there being the list of the top movers so on a day when it's extremely flat no big decisive movers on the large cap space just the noteworthy Point Tam is the slight pullback if you will won't even call it a pullback on B the Bajaj twins after yesterday's strong rally yeah yeah baj Bajaj Finance definitely seeing uh a pullback you have the IPO price that is out and that pullback actually deepening right now NJ if you see all right specific stocks let's talk about that because that's where the action is I think HL could end up being stock of the morning let's uh pull pull that up and see what's happening after a long time you have some movement in defense stocks and some you know sign of action not even that exciting frankly for the kind of market we've seen But 3% up on open all right not too bad uh all defense stocks are seeing some interest so let's pull up a coaching Shipyard let's pull up garden reach mascow between 3 and 5% up this morning Brigade is raising funds of 1500 CR rupees uh that talk about 3 and a half% up fundraises uh seem to be taken quite positively by the market right now K's technology we've been talking about they've been talking about the semiconductor plant but finally there is a cabinet n 6 and 1 half% up on can's stch so that is also an interesting stock this morning to watch mut Finance in Focus because their subsidary has gotten a SE n to launch an IPO flat movement on the stock and vidanta is the other one third inm dividend been given by vanta that stock also just about half% up in the green so not too many and shakers I think uh safe to say Saina defense is the story this morning interesting you know because HL has backed the order but that stock is up 2 and a half% it peers in the industry are trading with better gains so mascow Doc is up 5% while HL is up 2% Garden reaches up 42% and you've also got bat Dynamics that's trading with a little bit of a gain uh a big gain actually is compared to its uh the rest of the market Gaines is the stock of the morning Brigade is doing well on qip plans uh you've also got Shipyard names like coachin Shipyard that's trading higher I think Market is looking for trading ideas in today's session most of them are fairly lackluster Sona blw is up 2% Bombay Burma is trading with a 2% gain uh Gujarat uh gmdc is up about a%c and a half a quick check on GSL and Gujarat gas both of those counters are big gainers yesterday uh let's see what they're getting up to today trading very very flat as we see it take a look at adani energy the stock was up 5% but on the deal with total rajad BOS had a constructive call on it but it's trading flat as we see it in terms of early early ticks on the street on the cell side on the Nifty 500 so there is a little bit of I mean the Nifty 500 is still not looking bad despite quite a few stocks that are losing signature Global is down 5% in trade matrimony.com is up 11% there's some fundraising plan there the stock is doing well buy back on matrimony Orient cement is up Medi assist we saw that 13 1 12% Equity change hands just before markets opened up the stock is looking very good 2 and a half% so the supply has been lapped up is what we expect Adar housing if I can pull that one up too it should give me some idea about how Adar housing is doing the stock is seeing a 5% up move so Adar housing 5% higher matrimony is 11% up move so there are uh small stocks that are moving well so a Adar housing maybe because of this note from kotak institutional they that could be anive call 41% upside Target price of 550 from kotak institution saying that Adar housing is standing out versus most affordable pairs so that's the big one and you on the sales side you've got signature Global that's around 5% you've got uh P&B housing that's trading low PB fintech uh oil India you know you've got some of these asset management companies that are looking slightly weak but I mean all of this in the look of it is looking like healthy profit booking uh baj Finance baj finer you've got the baj housing IPO price band both those counters also trading soft this morning you want to yeah I something that's working we were talking the morning that Hal's ordered ases it spur defense so Hal Garden reach masone all of them 4 5% and you know what's interesting Hal is got the least amount of gains in the sector so your masg dogs coaching Shipyard Garden reach are doing better I think perhaps one of the reasons could be and we'll get Sun's View on it that the signal after the cabinet announcement yesterday is that the government now getting back into term three getting back into that mode of putting out all of those orders it had gone quiet for the last 6 months because of election Focus Etc so uh now you'll see that whole cycle spurt up again is that one way of looking at it sunny yes definitely I think uh in fact during the June quarter commentary also many companies has alluded that there is a Slowdown in terms of ordering there is a Slowdown in terms of ground level execution I think with the yesterday's order it seems that momentum is back and we will again see the all the management guidance of order inflow getting with a narrative of likely to get met over the period of next 6 month so I think yes that's Aug will for entire order book driven businesses whether it's a defense or in rajat now that uh you've seen the first sort of rates hit and defense coming to the FL anything that is looking more interesting on the charts or anything that you would uh want to add to your list right now well uh so long as H doesn't fall below the 50-day moving average which is currently now at 47 uh 48 10 if it if it manages to stay above that then only there will be a good move but be certain about one thing that at any point in time this might give a good move up adani green that I talked about that also looks good uh I would say the best stock in my radar as of now post opening is kan's uh technology because it is clearly showing a green candle and it has moved up all above all the moving averages I think one can actually take a short-term trade with good 5 6% gains that can happen here well those are the stocks that are getting ready for a sharper up move ad rajit I'll stay with you on a few more stocks that are catching our attention small company and I know they're not in the fno space but matrimony Adar Housing Finance how do both of those look because those are also uh trading quite well as we see it see Adar has opened with a gap AAR has opened with a gap and it is is uh showing traction uh once it crosses say 411 to about 415 then you can expect it to move up to something like 424 and the other stock was matrimony well regarding matrimony what I would say is that matrimony this there is no trade out here unless you are you have already taken a position much earlier you you plan to book some profits fine otherwise don't don't buy this Gap because it could not sustain at the higher levels where it opened around say 840 or so and it is coming down it will fill at least most of the Gap uh so matri money is not a buy but can's definitely we just keep in mind that a buyback uh what Quantum of shares get bought back is a big factor in what kind of gains you will make if you go out and buy a stock after a gap up on the announcement of a buyback usually the acceptance ratios are very small so calculate the acceptance ratio very carefully before you go out and try and trade a stock because the buyback price is much higher than or or a very attractive price relative to the current market price so that's one now Sunny fundamentally to you on a stock that was doing very well yesterday and continues to do well today sonac Comstar very expensive auto ancillary name uh are you constructive here or are there cheaper auto angs available yeah so uh what happen is that nowadays companies which are reporting a very healthy earning growth there we are seeing that the expensive valuation are definitely sustaining and that's the case with Sona blw also consistently reporting robust number at the same time order book continue to remain pretty robust in terms of validation yes trading at an pretty expensive valuation compared to other Auto anary name I think other names which we discussed earlier like companies like AK Auto for that matter endurance s engineering Sharda motor cop motoc cop so these are the few names which are trading at a relatively cheaper valuation again a proxy PL to more of a two wheeler passenger vehicle name uh so these are the few names if you like some the auto name Auto sector a few names you like like uh Sunny what are you doing with fmcg stocks right now tactically do you feel like this is a good space to be in and while you're talking about it let's throw in Pharma and it as well because both of those sectors have been supporting the markets quite well in the last 3 4 weeks yeah so fmcg yes definitely there is a hope that Forst very good Monson which is panning out right now the rural demand is something which will of during the second half during the festive season and that is leading to a lot of positive sentiment in the entire fmcg consumer SLE names whether it is H ITC or Cas in point consumer so yes we remain constructive on fmcg name at the same time a few unknown players like pangali where we have seen a merger of AIC portfolio with pangali that even there we find that earning growth is likely to be healthy data consumer again following strategy of organic as well as inorganic growth there again earning growth can be slightly ahead of the peer so these are the few names which you like among the consumer staple consumer discretionary I think jewelry is a sector which is clearly one outperformer whether it is in terms of strong tnd or in terms of operational delivery so I think within jewelry players like C Senco can be looked upon um moving on to the it sector yes it is again since we are in the September and on 18th of September us fed meeting outcome will be there and the streate is hopeful that with the rate cut cycle be uh has to kick off from 18th of September we may see demand environment further improving in the develop markets like us and Europe so yes it definitely risk reward is theable valuation comfortable any large cap it name so Tech and infosis is the these are the few names if you like among the uh large cap it Pharma yes Pharma again very similar to it and fmcg where we have seen uh a decrease in pressure on price erosion in the US market at the same time domestic Market continue to do well so Pharma is a again place to be in companies like Lupin which which is yet to cross I believe it's like time high delivering very robust set of numbera among the smaller name companies like maxan Pharma Shila Medicare narma so these are the few names if you like the far all right thank you so much s thank you so much rajat for speaking with us uh this morning it's looking like a decent kind of start on the street uh quiet uh a little bit of um I would say flagging of energies at the start but not negative by any stretch of the imagination just flat completely on the Nifty gmit chadda is joining us managing partner and CIO at complete circle gmit great to have you on the show as always and always lovely to chat with you you know I'm going to start by talking to you not necessarily about today's markets and stocks and sectors we'll come to all of that but I want your take on the whole IPO Outlook and especially IPO Outlook lot of commentary coming in uh from ashini baa also yesterday whole time member of sebi uh you've had a be note on the way uh investors are behaving post IPO 50% more than 50% just sell in the first week what is it telling you is this the marker of fro in the primary Market or too early to say that no this clearly FL I know some of the T based companies some of them do very basic civil work uh they are launching IPOs somebody uh you know is into buy fitting they talk of water management I think uh in a lot of cases I think even the numbers look a little tricky I'm not saying all IPOs are bad I think that it would be bad to generalize everything they're obviously lot of good ideas uh but you know obviously lot of not so good names uh with the purpose of making quick money are coming in uh and I don't blame the promoters alone I think the investors equally I mean 50% of them exit within a week uh to be fair even the IPO which made a lot of headlines they only pric it at 21 crores with two CR kind of a p one and a half CR so retail which subside 500 times on on that IPO so I think uh you know you have to be careful you don't know when the Music Stops and you know in Delhi we say that you know if you're in a mid Time party you know be closer to the gate and not not in the center when the party is going on because you never know when you have to actually you know end up paying the entire bill right git well that's more macro and uh I sort of view coming in uh not too much in terms of actionables but tell me what have you done with these recent IPS have you subscribed to any one of those talk to me about the new listing today Premier energy 100% Gap up is expected now this one's going to be phenomenal in terms of listing and while we are at it you at Ola electric recently you've got Bajaj Finance around the baj housing around the corner in a few months from now you may even have swiggy which has become the top of the town in the unlisted space any of these that are catching your attention or have caught your attention uh you know the only one we added post IPO was zamato uh it's it's been a decent run for us I think it was the turnaround for us for the quick Commerce uh they've already uh reporting thousand CR kind of Revenue my sense is that in a year from now that also should be you know a bit a positive I think that's where the the runway is 50 60% kind of a growth because food delivery now somato already has almost 8 CR plus uh you know transacting users so that can now grow at 20 25% the market is is you know the we have 21 22 CR households so and 8 CR people are already registered there so you know you can the growth could be 25 30% I think the quick Commerce is something which which I think can grow and has very long legs and I think the the government positioning also government is not very happy with way Amazon and others do deep discounting quick Commerce is more integration with the local ecosystem and more on convenience and with with the ticketing business I think that should do well we are tracking the baj housing IPO closely this could ReRe some of the other good names also so even if you see at the upper end of the band it's valued at about 58,000 crores and they have almost 8 CR kind of almost 76 77 million kind of a customer base uh very good roas baj is known for excellent you know analytics and I think there's a lot of focus on affordable housing one rub off could come on some of the other hfcs like P&B housing already run up a little bit but if you see now the cop book is just 3% of the assets trades at 1.1 uh fi 26 Price to Book so amongst the cheapest there and it has the ability to you know continuously do 2% plus kind of an Roa and the Legacy book almost now the coet NP is almost nil so that's the book is expanding very granularly so there could be some some rub off there as well so these are the you know this is one the one one which I'm looking at and obviously it has a impact on baj finance now because which we hold that in our portfolio it was a bit of a lager baj Finance has sharply moved up uh and I S my sense is lot of good nbfcs will move up as interest rates get cut and bond Ys come down uh you know you said you had zamato and you still like zomato and in that same breath uh I don't know whether you mentioned what your thoughts on swiggy war but it's getting a little bit of attention you know with this constant conversation with them looking to fight a drhp a lising expected in a few months this morning Hindustan composite from its uh treasury book I think has gone out and picked up a little bit of swiggy what do you feel at 340 350 swiggy looks good at a 10 billion valuation I know they had a Down Round a few months ago yeah it's it's almost I think close to 74 75,000 crores if you see the last round at about 325 340s where unlisted prices are uh you know my little bit concern there is is on the instamart and I think it's not done as well as they would have wanted it to do uh zamato is already talking of 2,000 plus dark stores uh in samart is still much low in fact zto is actually doing a little better as far as our little bit understanding and channel checks go so I would like to wait it out I mean in the unlisted space right now we are we were doing NSC uh post bonus issuances obviously there's been a sharp move another one we have recently done is the oo uh so that was available at a very good trade at you know almost like 30 rupees so unless space you know PR IO space is Hing up but investors should remember that you know space does not have liquidity a lot of us have forgotten what happened with the tat Tech IPO G Market was trading at500 the IPO came at 500 the stock is still at about th000 despite a Stella listing so the best of the names uh if you only enter that three IQ space is thought you should come and you know you should take advantage of it it a has in liquidity issue second the prices are all over the placeit uh let's move uh to you know some of the themes uh in the market today is it too early to Herald the return of the defense story with one H and then a whole host of them uh running up as well uh the sense being that after about a 6mon l due to pre-elections and then transition to the new government Etc now they're back in the saddle and all of those allocations will begin is is that an idea you're on board with I think you got to be selective I think you should also see how they have run up I mean last 6 months consolidation is good I would have probably wanted some price correction to probably take more positions HL in particular I think the the today's is because of the news of 220 or Dio engine being supplied to Su uh they also are facing a bit of an issue in terms of executing the Tes order see in lot of these you know fighter jets Etc there's a lot of risk in terms of execution there are lot of risk Clauses there the risk of you know orders getting called back some compensation Clauses if they don't meet specification it's a very technical business and right now we are just you know we were happy just skipping a multiplication to the stock just B is the order received uh and the business is love but in H's case because two3 of the revenue comes from service maintenance you know it is a little more stable and if you add this current order to already 1 lakh kind of an order backlog they have it's almost four times their 12 month sales uh so I think H in particular I think you know looks good I would be happy if I get a little bit more price correction in terms of making fresh exposures we like solar Industries also which is a combination of a chemicals and defense trade defense is just 10% of the book our sens is in next two to three years solar you know defense book could be 25 30% and they're doing some very good work on Paka rockets on hand G on on a lot of Defense stuff also there's lot of companies which will benefit because of the offset Clauses so you know almost 50,000 crores worth uh there's a 30% offset CLA the unutilized amount is almost 42 43,000 crores by f27 this figure would be 80,000 cror and there are just about 20 OD companies which are notified which are eligible for this uh offset CLA uh so if you research well you might get more opportunities slightly lower down the the value chain in terms of the smaller companies uh you know in in lot of spaces including sensors including drones including lot of other you electronic equipments so I think you got to be selective uh and and our exposure right now is between solar Zen technology and NH okay good me good morning n j good me post this earning season getting over what between the reportage of earnings and the commentary um relative to valuations of course has excited you the most uh it's actually made me a little nervous if you ask me uh you know because if you see BC 500 as a universe the EPS growth has been sub 5% uh almost 250 Plus stocks are now at 50 p uh now that's that's not great news if if the valuations are are what they are so as I said you got to be a little more selective one space which is looking good to me is Healthcare uh also one thing I've liked about Pharma is that you know it doesn't make too much noise and if you look at last five 10 15 20 years it's beating 50/50 almost by 1 one and a half% uh you know in across time periods and if you see the beta on the downside is just 05 so it actually falls half Whenever there is turmoil we saw that you know recently just about a few weeks back during the Yen carry trade and winding uh and uh you know the representation is only 5% on BC 500 Index which is almost what equal to HDFC bank so my sense is that there are a lot of opportunities and this bio secure law likely to be a reality in US it could open up huge opportunities both in apis formulations and and lot of cdmo names uh we are lucky in terms of having some exposure to Newland that's that's done quite well where we haven't probably done well is is lais Labs but we're looking to add more names we we added Mankind Pharma post the acquisition when the stock went down that's more in the Branded generics place and now they are cementing their place in woman fertility I think that's one area which is you if you see around you you'll see so many fertility centers going up it's a genuine problem and the company they've acquired has serious skills skill set in that and we might look at some companies in generics as in this you know the biosure law takes final shape what are you advising your clients to do right now uh if somebody with an average risk profile uh are you telling them to sit on some cash are you asking them to continue allocations to the STP route I'm just trying to understand what does an investor do take profits off the table add incremental cash and also in the same breath is the bias now on the large capap space because we've talked for months about how large capap should play catchup and we now seeing early signs of that happening in the last few weeks I think I think some me because should happen and must happen because Nifty is still 19 times if you take you know forward earnings I'm not saying it's cheap but it's it's still slightly above the long-term average versus mid and small cap which are 24 times and 26 27 times uh our our call has been if you know I remember speaking to also some time back that the long end bonds made a lot of sense to us around March when the Ys were around 720 725 it's still at about 685 69 range my sense is that you will see 10e D closer to 6625 12 months from now we may have a shallow de cut cycle but we'll still have 50 to 75 basis points we are also getting $2 billion kind of monthly flows now with the inclusion in the global Bond index which means a long-dated bond the yields can soften by 50 to maybe 75 basis points which could be a mark to market gain of 40 5% above your coupon which is closer to seven which means you can make double digit return in a bond fund uh with let's say a 12 18 month view we've been asking Clans to add a little bit of gold the kind of turmoil we are seeing geopolitically and you know some some impact can happen when fed Cuts rates maybe little bit of devaluation of dollar not too sure but in general I think the outlook on dollar is not that great considering what us is going through record deficits uh so gold and long-dated bonds we we have added in the portfolio a it has given returns second it also reduces you know your beta a little bit on the downside and we are selectively advising some good tees where we see rotation coming in uh financials are making a lot of sense to us so we are adding more there we rotating it it made a lot of sense six months back nobody wanted to touch it infosis was 1200 TCS was 3,000 bucks Tech Mahindra was th000 uh so it happens always you know you You' got to be a little ahead of the cycle sometimes that also means you may have to take a little bit of underperformance to us I think financials uh nbfc especially and and some banks are making a lot of sense and selectively we adding as I said bottom up stock teams including in recycling space including a little bit in data center themes uh gmit just wanted to get your take on a couple of uh sectors that are buzzing Auto is one of them and uh you know the uh numbers that have come out for the last month have at least put the two wheelers squarely in Focus Bajaj TVs hero what is your ranking over here and are you finding passenger vehicles less interesting relatively no it's just that you know the stocks have run up a bit it's not less interesting uh you know just see the movement in tataa Motors and &m last two three years I think it's it's probably would have been as good as you know some of the small medcaps or even defense names uh so incrementally we added TVs holding which was a holding company of TVs because of the special situation in the stock it was getting split into three which was the holding company sundaram Clayton and a preference share I mean that's that seed great results I remember before the split the price was 4500 you already have almost 14,000 on TVs holding we have sandar technology as one of the ancillary plays there it makes frames uh for earlier it was just a one product one supplier it only used to supply to hero and that two largely locks now they have become you know they have a very good portfolio now the EV portfolio they have great guidance on uh looking at almost, 1500 crores there over the next couple of years uh they also make frames for for large large good selling models like TVs Rader a frame typically costs about 30 35,000 bucks for a for a motorcycle and they are getting into you know cabins fabrication tooling Etc so it's a very Diversified portfolio now we are looking at Bajaj especially that you know this is one platform which is all three which is the IC engine the Flex engine which is ethanol as well as the EV portfolio CH as per Channel sex is getting very very good response once you see more variants Etc the number for both baj and TVs IQ can actually pick up uh so that's that these are the things which are in our radar as far as you know the auto goes you very much G good talking to you getting some perspective on IPOs what looks good what doesn't what sectors and what sort of a portfolio strategy one should be adopting in in the current market back drop thanks for joining us one other company that's on the radar and has got a couple of aggressive buy calls as well coming out from brokerages is Gul oil they seem to be growing quite well growing D growing at Double the pace to the industry increasing market share they're focusing on new businesses and a lot more Manish gangal Chief Financial Officer of Gulf oil lubricants India joins in Manish good morning thank you very much for joining us today on the show you seem to be on a fast track with Gulf oil your call lubricant business is growing at Double the pace of the industry ADL is also doing exceptionally well as we see it uh and the industry as whole is growing too so it's of course two things working in your favor let's start with cor lubricants right what is the anticipated growth that you are working with over the next uh say 3 to four quarters and also where does your market share stand today in call lubricants and where do you see that at the end of this financial year and at the end of 3 years so good morning to all of you um first of all thank you for having me on your channel yeah you right um you know we have seen an very good growth coming back postco in terms of the lubricant sector and for Gulf oil our company especially where we have been you know traditionally we have been growing two to three years the market growth and that has been the trend for last 10 years uh and uh we have continued our journey even on a higher base of growing two to three years the market in terms of volume and for that matter the quarter one per performance has also come very strong at 9% Revenue growth and 29% bad growth on the back of three very good quarters in the last year where we hit centuries of iita in the in the last three quarters of last year so overall yes good traction coming back to lubricant sector and as you rightly mentioned you know the lubricant sector uh is going to continue with we have been telling and some of the global experts have also been echoing our you know voice that yes the lubricant demand is going to continue for the you know medium to long term and it's while there will be certain decarbonization efforts in certain segments but overall the demand for lubricant is going to continue to remain at this 3% volume growth level which has been the trend for last 10 years so overall yes the positivity in the sector is back and of course at Gul oil we have been doing uh continuous work on increasing our distribution for b2c gaining new customers in the B2B space so overall yes we are doing you know better than the industry to work and our market share also currently is roughly like 5 6% overall on the lubricant uh core lubricant side so we have lot of Headroom to grow our you know aggressive trajectory of 2 to three years market so the market share at 6% gives us a lot of headr as well right and where do you you see that market share go up to Manish I understood the point that the industry is growing despite decarbonization you're growing at Double the pace from what I get is your market shares in the range of 7 to 8% where do we see that grow in three go two at in 3 years and also what are the margins you enjoy in this in this business is it strong margins is it on the upper band is it on the is it more of a revenue focused business give me an understanding of the kind of business C lubricants really is for Gulf oil so overall as you said uh we have a 6% market share on the total lubricant side but we have pockets of growth where we have less than 5% market share for example in industrial segment for example in passenger car segment and these are high growth Focus areas for us uh in terms of premiumization in terms of moving the curve ahead and overall you know in the bajar segment which is the lucrative you know brand play segment for b2c where you have you know more than 200 th000 shops across semiurban Urban India there we have slightly higher market share of around 7% but that said you know we have a lot of Headroom and growing at 2 to three as the market we have been getting market share across and we continue to aim last 10 years our market share has more than doubled and we we believe that uh the Journey of ging market share continuing to gain market share continues for next 5 10 years for us because there is a lot of head room and of course there will be selective pockets of spal focus like I mentioned you know um passenger car and infrastructure is also growing significantly in India and the government spending on infra is going to continue for next 10 years and there we have a very good market share and we want to consolidate our position further so there are many areas of you know Pockets like agriculture segment where we have again sub 5% market share and Rural is doing well now so all these areas are high focus areas for us for overall lubricant growth in terms of trajectory for the next you know many many years I know that data center and cooling liquids is a segment you ventured into and you're looking at a strategic long-term uh growth map there uh from what we understand the the capacity that India holds in terms of uh data centers is only 3% so the room to grow is significant uh tell me what does cooling liquids do in terms of your top plan in term terms of contribution what is the growth you're working with there and what is the sort of margins you enjoy here because these are new businesses right and the potential to grow is so much more largely because there a b there's a very low base here yeah so you're right data center has come up as a good opportunity in the recent past and uh considering India's focus on you know Ai and thereby creating a lot of capacity for data centers it's an interesting opportunity but uh let me tell you like we have been highlighting earlier also this is an opportunity which is a very Niche opportunity overall volume of data center cooling liquids because currently most of the data centers are air cool and when they transform to liquid cooling and assume that 100% of the data centers are on liquid cooling basis uh technology we are still going to talk about you know around 1 to 2% of the total lubricant volume coming out of that sector so it's it's a very very you know small segment of the overall pip but it's a good segment to be in because it's a growing segment and at Gul oil we have been continuously you know working on creating some good products for this uh segment and but right now the opportunity is very very very small uh Mr gangwal hi Tam here just uh so data centers is Niche it's new maybe something in the future you're also looking at um EVS as one space give us a sense of the size of that business and how much of a component or how much requirement is there for the product in EVS is that growing give us uh you know your overall look there yeah so I think uh while we say that lubricants are going to continue to grow you know what the growth rate has been for last 10 years will be for next 10 years also at the same time we also believe at Gul oil that there will be certain areas where you know EVS will take certain portion of the market and especially in the two wheeler segment and bus segment um there will be some penetration of EVS going forward which is good for environment as well and with that uh thought process in mind we have made few investments in EV space and uh you know we have made an investment in this AC slow charger company which is based out of UK we have made an investment in a software as a service company which CS to electric vehicle segment and named Electrify and another recent investment last year we made in November was in a company called tyrex which where they make DC fast charges so we have made few moves in the sector uh these are growing segments and we believe that especially the DC fast charger segment in India is going to grow rapidly because there will be the government buses Stu buses which are going to be converted to EV in certain proportion over the next 5 seven years and they all require fast charging and tyx is well suited in that place we have txr ly have more than 1,000 fast charges already installed and running across India and all our products are highly successful and that is where we believe that krex as an opportunity in DC fast charger segment can be a very significant opportunity for us uh we believe that the market of fast charges by 2030 uh should be at least a billion dollar plus and that makes and with 8 to 10 Mr gangal Mr gangwal so so the EV play of it which includes fast charges all of the per different area around it what is that going to be in terms of contribution to your Revenue going forward yeah so as I mentioned you know a billion dollar plus Opportunity by 2030 and we aim to have at least 10% market share so we are looking at roughly 500 to 700 CR of Top Line at least coming in next four five years from uh this charger segment you know you come from an industry that is rather fragmented Mr gangal any sort of inorganic plans that you have any acquisitions mergers because you are going into new businesses and the fact remains while you're significant in the old business the future really sits in the new business Place uh are you eyeing any sort of mergers to sort of achieve that Target of 10% of a billion dollars so overall you know we keep looking at EV value chain across categories and uh we evaluate regularly the opportunities which are coming either by way of you know partnership or by way of acquisition we and in our core lubricant we generate a lot of cash and the cash is being planned to be utilized either by way of investing into the upcoming EV segment which as I mentioned we are aiming at 5 to 700 CR of Top Line in next uh next four five years or obviously we have increased the dividend payouts as well so yes we are closely evaluating battery swapping space in terms of EV or you know other other EV value chain opportunities because we have a strong brand which Auto consumer knows so considering that in mind and our relationship with OEM Auto oems we are continuously evaluating the space all right thank you so much Mr gangwal for speaking with us so Gul oil in Focus uh exciting things happening data center cooling EV business all of the of course newer fores uh but that's uh really all the time we have on India market open stay tuned though a lot more coming up on the other side on talking point we're also going to be speaking with Bajaj Auto on uh their numbers their sales numbers which have come out last uh month K's Tech um stock of the day in terms of buzzing uh they've got their permissions from the cabinet for their semiconductor plant in Gujarat we're going to be speaking to that management as well so stay tuned for all of that coming up after the break [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] welcome back you're watching talking point well the markets are having a qush morning and consolidating on day 13 or rather the day 14 of gains it's Premier energies that we may not be able to keep our eyes is off it was over subscribed over subscribed by