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BEML, RVNL: Rail stocks zoom up to 7% on new metro projects worth Rs 30k cr

BEML, RVNL: Rail stocks zoom up to 7% on new metro projects worth Rs 30k cr

by | Aug 19, 2024 | Share Market


Indian railways cancelled 145 trains on Thursday, Sept 1, 2022.

2 min read Last Updated : Aug 19 2024 | 1:09 PM IST


Shares of railway companies saw a surge of up to 7 per cent on the BSE during intraday trading on Monday following the Union Cabinet’s approval of metro projects exceeding Rs 30,000 crore. 


On Friday, the government greenlit two corridors for Bangalore Metro Rail’s Phase-3: Corridor-1, extending from JP Nagar 4th Phase to Kempapura with 21 stations, and Corridor-2, connecting Hosahalli to Kadabagere with nine stations. 


The total completion cost for Phase-3 of the project is estimated at Rs 15,611 crore, with an expected operational date set for 2029.


Additionally, Pune Metro Phase-1 will be extended southward from Swargate to Katraj, covering approximately 5.5 kilometres at an estimated cost of Rs 2,954 crore, with a projected completion date of 2029. 


The third project approved is the Thane Integral Ring Metro Rail Project, with a total budget of Rs 12,200 crore. The 29-kilometre corridor will traverse the western periphery of Thane city, featuring 22 stations. The network will be bordered by the Ulhas River on one side and Sanjay Gandhi National Park on the other.


BEML, which is actively involved in metro projects, supplied the coaches for the recently launched Mumbai Metro, soared up 6.84 per cent at Rs 3,985.95 per share. Another railway stock, Titagarh Rail Systems also rallied 3.94 per cent at Rs 1,485.25 per share.


Meanwhile Rail Vikas Nigam Ltd (RVNL) shot up by 3.42 per cent at Rs 589.90 per share. Moreover shares of Texmaco Rail & Engineering were also up by 2.56 per cent at Rs 256.15 per share at intraday levels. 


At 12:54 PM; the shares of BEML were trading 4.22 per cent higher at Rs 3,887.75 per share, while RVNL shares were up 1.50 per cent at Rs 578.90 per share. The shares of Titagarh Rail Systems were trading 3.15 per cent higher at Rs 1,474 per share, whereas shares of Texmaco Rail & Engineering were up by 1.42 per cent at Rs 253.30 a piece. 

First Published: Aug 19 2024 | 1:09 PM IST



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Caplin Point Laboratories Ltd leads gainers in 'A' group

Caplin Point Laboratories Ltd leads gainers in 'A' group

by | Aug 19, 2024 | Share Market


Last Updated : Aug 19 2024 | 12:04 PM IST

Morepen Laboratories Ltd, Godfrey Phillips India Ltd, Gravita India Ltd and Poly Medicure Ltd are among the other gainers in the BSE’s ‘A’ group today, 19 August 2024.

Morepen Laboratories Ltd, Godfrey Phillips India Ltd, Gravita India Ltd and Poly Medicure Ltd are among the other gainers in the BSE’s ‘A’ group today, 19 August 2024.

Caplin Point Laboratories Ltd surged 14.45% to Rs 1814.85 at 11:46 IST. The stock was the biggest gainer in the BSE’s ‘A’ group. On the BSE, 81379 shares were traded on the counter so far as against the average daily volumes of 13523 shares in the past one month.

Morepen Laboratories Ltd soared 12.05% to Rs 68.18. The stock was the second biggest gainer in ‘A’ group. On the BSE, 35.96 lakh shares were traded on the counter so far as against the average daily volumes of 11.98 lakh shares in the past one month.

Godfrey Phillips India Ltd spiked 9.97% to Rs 4985.15. The stock was the third biggest gainer in ‘A’ group. On the BSE, 13426 shares were traded on the counter so far as against the average daily volumes of 11119 shares in the past one month.

Gravita India Ltd gained 9.70% to Rs 2428.35. The stock was the fourth biggest gainer in ‘A’ group. On the BSE, 64268 shares were traded on the counter so far as against the average daily volumes of 57185 shares in the past one month.

Poly Medicure Ltd exploded 8.07% to Rs 2110. The stock was the fifth biggest gainer in ‘A’ group. On the BSE, 12029 shares were traded on the counter so far as against the average daily volumes of 5274 shares in the past one month.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Aug 19 2024 | 12:00 PM IST



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Here's why DCX Systems share price locked in 5% upper circuit today

Here's why DCX Systems share price locked in 5% upper circuit today

by | Aug 19, 2024 | Share Market


Illustration: Ajay Mohanty

2 min read Last Updated : Aug 19 2024 | 11:21 AM IST


Shares of DCX Systems locked in 5 per cent upper circuit at Rs 319.75 per share on the BSE in Monday’s intraday trade. By comparison; at 11:05 AM the BSE Sensex was down by 0.11 per cent at 80,345 levels. 


DCX Systems stock price jumped after the company bagged work orders from its domestic and international clients.


The company received an work orders for supplying of electronic kits and cable and wire harness assemblies. The orders amounted to a total of Rs 107.08 crore, the company said in an exchange filing on Friday. The company is expected to deliver the order within the next 12 months. 


DCX Systems is a leading Indian manufacturer of electronic subsystems and cable harnesses for the defence and aerospace sectors. 


Established in 2011, it specialises in system integration, producing a wide range of cables and wire harness assemblies, and is also involved in kitting. It has become a preferred Indian Offset Partner (IOP) for foreign OEMs on aerospace and defence projects.


DCX Systems reported a decline in operational revenue for the first quarter of financial year 2024-25 (Q1FY25), which fell to Rs 138.08 crore, down 18.82 per cent from Rs 170.10 crore in Q1FY24


The company’s earnings before interest and (Ebit) for Q1FY25 also fell 42.19 per cent to Rs 10.70 crore from Rs 18.51 crore in the same quarter last year. This reduction impacted the Ebit margin, which decreased to 7.75 per cent from 10.88 per cent in Q1FY24


Net profit (PAT) for Q1FY25 plummeted by 69.38 per cent to Rs 2.94 crore, down from Rs 9.60 crore in Q1FY24. The PAT margin also slipped sharply to 2.13 per cent from 5.64 per cent in the previous year’s first quarter.


The company has a total market capitalisation of Rs 3,739.24 crore. Its shares are trading at a price to earnings multiple of 52.30 times with an earning per share of Rs 6.11. 

First Published: Aug 19 2024 | 11:14 AM IST



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Caplin Point Laboratories Ltd leads gainers in 'A' group

Oil and Gas stocks rise

by | Aug 19, 2024 | Share Market


Last Updated : Aug 19 2024 | 10:05 AM IST

Oil and Gas stocks were trading with gains, with the BSE Oil & Gas index increasing 576.08 points or 1.81% at 32462.27 at 09:40 IST.

Among the components of the BSE Oil & Gas index, Hindustan Petroleum Corporation Ltd (up 3.58%), Bharat Petroleum Corporation Ltd (up 2.72%),Oil India Ltd (up 2.72%),Petronet LNG Ltd (up 2.3%),Indian Oil Corporation Ltd (up 2.03%), were the top gainers. Among the other gainers were Oil & Natural Gas Corpn Ltd (up 1.91%), GAIL (India) Ltd (up 1.66%), Indraprastha Gas Ltd (up 1.59%), Reliance Industries Ltd (up 0.94%), and Adani Total Gas Ltd (up 0.66%).

At 09:40 IST, the BSE SmallCap was up 610.01 or 1.13% at 54467.1.

The BSE 150 MidCap Index index was up 102.83 points or 0.63% at 16412.19.

The Nifty 50 index was up 59.45 points or 0.24% at 24600.6.

The BSE Sensex index was up 152.74 points or 0.19% at 80589.58.

On BSE,2435 shares were trading in green, 813 were trading in red and 132 were unchanged.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Aug 19 2024 | 10:00 AM IST



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Waning demand expected to hit breakneck rally in India's auto stocks

Waning demand expected to hit breakneck rally in India's auto stocks

by | Aug 19, 2024 | Share Market


Over the past 12 months, the NSE Nifty Auto Index has jumped 66 per cent compared with a 26 per cent rise in the broader benchmark. Photo: Bloomberg

3 min read Last Updated : Aug 19 2024 | 8:53 AM IST

By Alex Gabriel Simon

A sizzling rally in India’s auto shares is reversing as a build up of unsold vehicles and growing discounts by carmakers pressure profit margins.


India’s NSE Nifty Auto Index is down 4.1 per cent in August, more than double the decline in the Nifty 50 Index. Bellwether Maruti Suzuki India Ltd. has slid 6 per cent so far in the month, on track for its worst monthly performance since December 2022. 

Passenger vehicle inventories have surged to historic highs of up to 72 days, the Federation of Automobile Dealers Association said last month. Waiting period for some models, once as long as 12 months a year ago, have nearly vanished, according to MRG Capital. Increased competition among carmakers has also led to price cuts. These factors have raised concerns about whether local carmakers can sustain the robust sales seen after the pandemic.  

Charts


“After such a run up there is risk that these companies will see correction,” said Manu Rishi Guptha, a portfolio manager at MRG Capital.


Over the past 12 months, the NSE Nifty Auto Index has jumped 66 per cent compared with a 26 per cent rise in the broader benchmark. 


The slowdown has prompted some carmakers to offer incentives to maintain market share. Last month, Maruti Suzuki said it raised discount offerings amid “less than ideal market conditions.” Earlier this month, Mahindra & Mahindra executives described industry demand and environment as “tepid”.    

Charts


There are still some relatively safer pockets of the auto market. “We are currently more inclined toward two-wheelers over four-wheelers,” said Deepika Mundra, an analyst at M&G Investments. Two-wheeled motor vehicles are better placed to gain from the transition to electric vehicles due to higher market penetration, she added.


Still, the highly anticipated listing of Hyundai Motor Co.’s India unit could create an additional overhang in the sector as investors gain another option, Mundra said. The South Korean firm is set to raise a record amount of money in the country in what could be the India’s largest initial public offering to date. 


The market’s next test will be during the festival season starting late next month, a high season for auto sales. Last year’s 42-day season saw record vehicle sales, with nearly 550,000 cars being sold in the period. That’s was about 10 per cent higher than the year prior. 


Still, expectations are not high for a major turnaround. Demand for entry level cars is seeing little uptick and carmakers are dumping more stock ahead of the season, said Amit Hiranandani, an analyst at Smifs Ltd.


“Dealer confidence suggests that the upcoming festival season sales may be flat or lower compared to last year,” he added.

First Published: Aug 19 2024 | 8:53 AM IST



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