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Mumbai: In the Union Budget of the NDA government led by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman announced the expected increase in capital gains tax for the stock markets and an increase in the Securities Transaction Tax-STT to prevent losses of retail traders. After a week of turmoil in the stock markets, F&O trading saw a historic record rise over the weekend. With the Prime Minister's call for a developed India, moving forward strongly and focusing on employment and growth in the rural economy, along with the decisions and provisions announced in the agriculture sector, retail investors along with institutional investors have bought heavily last week. As a result, the Nifty has created a new history of 24861. While the Sensex has touched a record high of 81427. The rally gained momentum over the weekend and FPI-foreign portfolio investors also became net buyers of stocks along with local funds. Foreign funds have resumed heavy buying in stocks, regretting missing out on being a part of India's growth story and benefiting from it. Despite the threat of heavy rains in some areas, the monsoon is performing well overall, coupled with the positive factor that economic growth will pick up in the coming days, stocks have rebounded. While corporate results of many companies have also been good, funds in stocks have again become aggressive in buying small and mid cap stocks. Of course, given the magnitude of the rally and the excesses often witnessed, it would be advisable to be cautious in stock selection and avoid buying any weak stock on a whim.
US Fed interest rate decision: Mahindra, Maruti, Tata Steel, ITC, Tata Motors, Titan see results
With the progress of monsoon, next week the market will be eyeing India's infrastructure sector data for June on Wednesday, July 31 and HSBC India's manufacturing PMI for July on Thursday, August 1. On the global front, US employment data for June and the US Federal Reserve's interest rate decision to be announced on Wednesday, July 31, 2024 and the Bank of Japan's interest rate decision to be announced on the same day will be closely watched by China's NBS manufacturing PMI for July. In corporate results, after the declaration of results of ICICI Bank and Dr. Reddy's Laboratories, NTPC, now next week ACC, Hindustan Petroleum Corporation results have been announced on Monday, July 29 and Castrol, Dixon Technology, Indian Oil Corporation, GAIL results on July 30. The market will be eyeing the daily results of India, Tata Consumer, Ambuja Cement, Adani Power, BHEL, Coal India, Mahindra & Mahindra, Maruti Suzuki India, Tata Steel and Adani Enterprises, Adani Ports, ITC Limited, Tata Motors Limited on 31 July 1 August 2024 and the results of Chems, Dalmia Sugar, Glaxo, Ion Exchange India, Titan Company on 2 August 2024. So in the coming week, Nifty can be seen moving between 25088 and 24444 and Sensex between 82155 and 80111 due to the progress of monsoon, volatility in global markets, corporate results, interest rate decisions of US Fed and Bank of Japan.
Arjun's Eye: SML Isuzu Limited.
BSE (505192), NSE (SMLISUZU) listed, Rs. 10 payout, 44% holding of promoter Sumitomo Corporation-Japan and 15% holding of technical partner Isuzu Motors-Japan, total 59% multinational holding, ISO 14001:2015, IATF 16949:2016, ISO M14001:2018, ISO 9001:2005, ISO/IEC 27001:2013 certified, SML ISUZU Limited is a trusted and reliable manufacturer of commercial vehicles since 1985. The company has over 34 years of experience in manufacturing light and medium commercial vehicles to meet the needs of Indian customers. SML ISUZU is the first company to manufacture and supply state-of-the-art fully built buses, ambulances, police force transport vehicles, water tankers, special vehicles and customized vehicles. The company exports its vehicles to several countries including Nepal, Zambia, Bangladesh, Kenya, Tanzania, Rwanda, Seychelles, Syria, Jordan. The company has 11 regional offices and 230 dealers in India and a service network of over 205. In July 1983, SML Isuzu Limited was started as Swaraj Vehicles Limited to manufacture light commercial vehicles in Punjab. The company is focusing on continuous product development as well as cost-effective technology solutions. The distribution network is being upgraded along with improvements in after sales services and brand promotional activities.
Manufacturing Capacity: The company has a manufacturing facility in Nawanshahr-Punjab with an annual production capacity of 24,000 units.
Increase in vehicle sales: In the year 2022-23, the company sold 4150 cargo vehicles, 8284 passenger vehicles and a total of 12,442 vehicles. In the year 2023-24, the company's cargo vehicle sales increased by four percent to 4,325 vehicles and passenger vehicle sales increased by 14 percent to 9,472 vehicles. In the first quarter of the current financial year 2024-25, the company has increased the sale of cargo vehicles by 13.5 percent to 876 vehicles compared to 3,234 and passenger vehicle sales by 8.30 percent to 3,507 vehicles. Especially in the month of June, the sale of cargo vehicles increased by 29 percent to 339 vehicles this time compared to 263 vehicles in the same month last year and the sale of passenger vehicles increased by 40.3 percent to 1425 vehicles compared to 1016 vehicles. Thus, total vehicle sales increased by 37.9 percent to 1764 vehicles as compared to 1279 vehicles in June 2024.
Share Holding Pattern:
Promoter Sumitomo Corporation Japan holds 43.96 per cent, Isuzu Motors Ltd Japan holds 15 per cent, while HNI Sachin Bansal's holding group holds 19 per cent. Corporate bodies, HNIs, NRIs together hold 7 per cent stake and individual shareholders with capital up to Rs 2 lakh hold 15 per cent.
book value:
It is expected to get Rs 112 in March 2022, Rs 123 in March 2023, Rs 198 in March 2024, Rs 296 in March 2025.
financial result:
(1) Full year April 2022 to March 2023: Earnings per share at Rs 1824.71 crore as against Net Loss of Rs 99.76 crore in the previous year Net Profit of Rs 19.83 crore Earnings-EPS at negative Rs 71.
(2) Full year April 2023 to March 2024: Net profit increased to Rs 107.88 crore as against Rs 19.83 crore for the full year April 2023 to March 2024, while earning a net income of Rs 2001 crore and achieving quarterly earnings per share of Rs 74.54.
(3) Expected full year April 2024 to March 2025: Expected net revenue Rs 2,850 crore, expected net profit Rs 141 crore and EPS Rs 98 per share.
Thus (1) The author has no investment in the shares of the above company. Authors may have direct or indirect personal vested interests in the research sources. Consult a qualified investment financial advisor before making any investment decision. The author, Gujarat News or any other person will not be responsible for any potential loss on investment. (2) Promoter Multinational Sumitomo Corporation Japan 44% and technical partner Isuzu Motor 15% together Multinational holding 59% (3) Expected full year March to April 2024 The stock is currently (as on 26, July 2024) trading at Rs 2054 on NSE, BSE at a P/E of 21 against expected EPS of Rs 98 in 2025 and expected book value of Rs 296. P/E for both SML and Isuzu, a Japanese multinational, should be 33