Management Bytes on Media

08th March 2023, Wednesday

Indices 

Nifty ended down by .83% or  131 points at 16945

Market Breadth  Advance: 582  Decline : 1739 continued to be weak 

Nifty Midcap Index ended down by 1.17% at 29565

Nifty Smallcap Index ended down by 1.67% at 8923

India VIX

India VIX ended up by 5.79% at 15.33
 

Sectoral Indices

Losers

Nifty Metal Index down by 2.27% by 5372

Nifty PSU Bank ended down by 2.15% at 3565 

Nifty Auto Index ended down by .76% at 12113

Nifty Bank Index ended down by .56% at 39395

Nifty FMCG Index ended down by .46% at 45060 

Big Movers and Shakers

Key Gainers 

ITI +7.68%, Cyient +5.73%, Adani Green +5.00%, Minda Corp +4.93%, Adani Transmission +3.93%, Fortis +2.91%

Key Losers

Sundaram Clayton -20%, Hikal -8.29%,  Jk Tyres -7.53%, IB Real Estate -5.51%, Man Infra -4.60%, Adani Power -4.27%, Dhampur Sugar -4%, HBL -3.79%, Adani Ent -3.90%

Mgt Interviews Key Takeaways

SBI on  CNBC TV18

Q3FY23 loan was driven by Retail Portfolio 

Will not list any subsidiary at this time 

Expect loan growth of 14% in FY24 driven by Infra, Renewables, EV

They don't see any slowdown in retail loan growth 

https://twitter.com/cnbctv18news/status/1639122074357895168?s=46&t=Xsgns9N93aeycIEY9J69Uw

Sonata Software on CNBC TV18

Sonata Quant System Deal 

Signs its largest ever contract worth $160mn 

The deal will contribute 5% to Company Int IT overseas revenue

10 year deal to manage end to end IT modernisation and transformation

Will double Int IT Services in the next 3 to 5yrs

https://twitter.com/cnbctv18news/status/1639125816415227904?s=46&t=Xsgns9N93aeycIEY9J69Uw

JSW Steel on CNBC TV18

India steel and aluminium exports to the EU will attract carbon tax

Carbon Tax of 20% to 35% starting from 01 Jan 2026

The tax is not a WTO compliant

India and other countries will have to oppose this tax

European Parliament yet to clear the proposal

https://twitter.com/cnbctv18news/status/1639143255962173446?s=46&t=Xsgns9N93aeycIEY9J69Uw

Tata Steel on CNBC TV18

With China reopening up & Good growth in US 

Low of Steel prices is behind us

Demand drivers are strong in India 

India Steel is largely going to be absorbed, if infra spending pick up

Energy price volatility is smoothening out

Steel demand in Europe has stabilised much more 

https://twitter.com/cnbctv18news/status/1639189544783458306?s=46&t=Xsgns9N93aeycIEY9J69Uw

Chalet Hotels on CNBC TV18

To acquire Duke Resorts with EV of Rs 133cr

Avg Room Rate is approx Rs 8500, EBITDA is Rs 13cr 

Construction at the new site will begin from Oct

Have an expansion plan for new acquisition 

Will increase capacity by 50%

https://twitter.com/cnbctv18news/status/1639145209136283648?s=46&t=Xsgns9N93aeycIEY9J69Uw

Greenlam Industries on CNBC TV18

New Plants to add revenue of Rs 1700 cr to Rs 1800 cr in next 2 to 3yrs

Debt is likely to peak at Rs 750 cr to Rs 800 cr in the next fiscal

Expect both laminate and plywood plants to start operations in Q1FY24

Promoters did not buy any shares in the current block deal

https://twitter.com/cnbctv18news/status/1639110447902363649?s=46&t=Xsgns9N93aeycIEY9J69Uw

Have a great & calm day ahead

Warm Regards,

OMKARA TEAM

Disclaimer-

Copyright 2023 Omkara Capital Private Limited. All rights reserved. The content in this report  should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.

SEBI Registered Research Analyst (SEBI Reg. No. INH000008206), 

SEBI Registered Investment Adviser (SEBI Reg. No. INA00  0016825)

Disclaimer-

Copyright 2023 Omkara Capital Private Limited. All rights reserved. The content in this report  should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.

SEBI Registered Research Analyst (SEBI Reg. No. INH000008206), 

SEBI Registered Investment Adviser (SEBI Reg. No. INA00  0016825)

Disclaimer: Please read the full disclaimer of our research on our website. (Link: https://www.omkaracapital.in/disclaimer / https://omkaracapital.in/Disclosure-Investment-Advisor.pdf)