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Time of India
17 hours ago
- Business
- Time of India
Better to bet on PSU banks, realty and infra stocks; FMCG, railways good for short-medium term: Neeraj Dewan
Neeraj Dewan , Market Expert, says PSU banks and real estate companies are showing promise, fueled by interest rate cuts and strong balance sheets. Infrastructure and construction sectors benefit from increased government spending and robust order books. FMCG looks favorable in the short to medium term, supported by timely monsoons and import duty cuts. Railway stocks have potential in the short to medium term. Where are you picking your spots in the market? The last time we spoke, you were bullish on ethanol-based companies. You were bullish on some specialty chemical companies also. Anything else which is there on your radar? Neeraj Dewan: Recently, PSU banks were looking attractive. That is where the moment also started. Some more moves should be there in PSU banks because initially, of course, when interest rate cycle is going down, there is some pressure but we already had two cuts and the third is also expected. Going ahead, they will get further benefits and some credit growth will also come in. A lot of them have very strong balance sheets now. So, PSU banks are where the action can continue. Besides that, look at the real estate companies like DLF and Godrej which are doing well. They have also picked up from the low level that they saw. But even smaller ones are looking interesting there. They are giving good guidance as far as pre-sales are concerned, as far as gross development value is concerned. One can also look at stock specific ideas in construction and infrastructure where last quarter, we saw a good pickup in government capex as well. So, order books are strong and we saw decent results from L&T. Execution should pick up now and this year also can be a good year for infrastructure and construction-related companies. Live Events You Might Also Like: Vodafone Idea share price target above Rs 12? What brokerages say Is there anything that you like within FMCG? For a longer-term play, are there better opportunities in the market? Neeraj Dewan: In the short to medium term – in the next three-four to six months – FMCG looks good to me. If monsoons continue to be on time and if we have a decent monsoon, if inflation stays low, all this and plus the recent import duty cut by the government augur well for the FMCG space. Britannia, of course, has done well from the 4700-4800 levels it was languishing in earlier. Hindustan Lever also looks good. FMCG should be part of the short to medium-term portfolio to give you a decent return. There has been a re-emergence of the defence and railway packs and it is pretty much across the theme when it comes to defence in particular. Is there any opportunity even after the runup that we have seen in both these segments? Neeraj Dewan: Post the recent Pakistan clashes, I was positive on defence because the stocks had corrected and there was a long-term view that defence should do well. The kind of Budget which we have in defence and the Make in India push the government is doing. Keeping that in mind, there was a short-term spurt because of geopolitical concerns. The short-term spurt has made them a bit expensive for the shorter term. But if someone has a longer-term view, one should look at opportunities whenever there are some corrections in defence stock. Stick to the larger one like Mazagon Dock or BEL or HAL. They have done really well for the last couple of years also and in the short-term, I would rather wait and look at opportunities to get into these stocks. The railway stocks have started moving but the move has not been so sharp on the upside right now. There is still potential there even for the short to medium term as order books are good and execution has started picking up. The execution started picking up late in the last quarter. We do not see that full impact coming in the March quarter. Going ahead, we may see improvement in execution in the railway companies. So, railways is one sector where even in the short to medium term, there might be some opportunity. You Might Also Like: Can India become the services factory of the world? Gautam Trivedi explains What is your take on Vodafone Idea because there is a loss in the bottom line though the ARPUs are seen increasing. The industry is working with an assumption that going ahead, there could be further tariff hikes and analysts are estimating that to be 15%. There is also chatter around the company being in talks with the government for some concessions in dues. What is your take on Vodafone Idea? At Rs 7, how do you see the stock? Neeraj Dewan: I have been avoiding this stock at whatever prices. Whatever news flow has come their way, has paid off till now. So, I will continue with my stance. Because the most important thing is you should start gaining some customers and that is not happening for Vodafone Idea. Till that happens meaningfully for a few months, then only can one make a base case where Vodafone Idea makes a bottom and we may see some improvement. But I do not see that happening right now. So, I would still avoid it. There may be a couple of rupees' move on the upside. As a percentage, that might look good to some people from a trading point of view. But I am avoiding it and I will not really go into it. Help us with your take on United Spirits because a note came from JPMorgan today where they have gone ahead and upgraded the rating on this counter and also raised the target price to Rs 1,760. Do you like this stock? What is your overall take on the Alcobev sector? Neeraj Dewan: Yes, I like the space and I like United Spirits. But I do not see too much of an upside from these levels as far as United Spirits is concerned. I had advised and entered United Spirits at about 800, 900 levels and it has taken a lot of time to reach these levels also. If someone wants to keep some alcohol stock in the portfolio, United Spirits is a good stock to have, but one cannot expect too much upside from these levels and not a very good return from United Spirits as far as the couple of years is concerned.
Mint
17 hours ago
- Business
- Mint
Godrej Properties, Prestige, DLF, Macrotech eye record residential sales in FY26
Bengaluru: India's four leading real estate developers—Godrej Properties, Prestige Estates, DLF, and Macrotech Developers—are collectively aiming to cross ₹ 1 trillion in residential sales in FY26, marking the strongest year yet for branded players. In FY25, the four developers clocked combined sales of around ₹ 85,190 crore. Residential sales in the top seven cities saw a slight fall in 2024 compared with 2023, against hopes they would touch a new peak. Rising home prices also slowed down sales in the January-March quarter. Sales dropped by 28% year-on-year to 93,280 units, and launches fell by 10% to 1,00,020 units during the March-ended quarter, as per Anarock Property Consultants data. This ambitious push for record residential sales this year comes on the back of a robust pipeline of project launches, existing inventory, and a focus on premium projects that fetch higher margins. Among the four realtors, Godrej Properties Ltd (GPL) has set the highest sales target of ₹ 32,500 crore this year. It sold 15,000 homes worth ₹ 29,444 crore last year, the highest ever by an Indian real estate firm. While real estate analysts have pegged GPL's FY26 sales guidance as conservative and cautious, Godrej Properties executive chairperson Pirojsha Godrej said the company has set a reasonable target and is confident of achieving it. 'For the better brands and strong real estate players like us, there is good demand. If we can execute well, there is nothing stopping us from increasing market share, and there is a huge growth opportunity in all the markets,' Godrej said in an interview earlier. Prestige Estates Projects Ltd, which fell short of its ₹ 20,000 crore target last year due to delays in project approvals, has set a higher goal of ₹ 27,000 crore for FY26. The Bengaluru-based firm recorded ₹ 17,023 crore in bookings last year, a 19% year-on-year decline. However, it expects a sharp bounce-back, aided by a ₹ 42,000 crore launch pipeline and unsold inventory worth ₹ 20,000 crore. 'The good news is the first quarter of FY26 itself will see sales of almost ₹ 12,000 crore, so the rest of the year should comfortably meet the remaining sales target,' said Prestige chairman and managing director Irfan Razack. DLF Ltd, the country's largest developer by market value, has guided for flat sales of ₹ 20,000-22,000 crore in FY26 after achieving ₹ 21,223 crore in FY25. Analysts believe the Gurugram-based developer's guidance is conservative. 'This is conservative given the backdrop of strong sustenance sales at 'Dahlias' and because 80% of the new inventory planned for FY26 is likely to be released in Q1FY26, aiding a high take rate for the full year,' said Rahul Jain, equity research analyst- real estate at Elara Securities. 'Overall, DLF is confident of sustaining strong operating cash surplus, aided by quarterly residential collections.' The DLF management in an analyst call on 20 May said that, along with good demand for luxury homes, it also has a strong launch pipeline of projects worth over ₹ 17,000 crore in the current fiscal year. Macrotech 'Lodha' Developers has guided for ₹ 21,000 crore sales in FY26, on the back of strong demand from home buyers demand, higher footfall and better conversions and pricing. It recorded xxxx sales in FY25, up/down xx% year-on-year. The Mumbai-based developer is viewed as a key beneficiary of industry consolidation, led by strong execution, key performance indicators and large-scale operations, an Elara Securities report said. While residential sales are expected to plateau this year, large, branded developers continue to clock strong sales and look set to tighten their grip on the market.
Mint
18 hours ago
- Business
- Mint
Q4 Superstars! DLF, Zen Tech among 58 companies that posted over 100% YoY jump in profit and revenue. Do you own?
In a welcome departure from the past three quarters, the January-March earnings season turned out to be ahead of analysts' estimates. In this quarter, some 60 BSE-listed companies reported over 100% growth in both profit and revenue from operations, according to an analysis by Mint. However, the list largely included names from the mid-cap and small-cap segment, with only realty major DLF and Adani group company Adani Energy Solutions making the cut from the large-cap space. DLF, whose shares have lost almost 7% in the last one year, reported a 250% year-on-year (YoY) rise in Q4 profit to ₹ 1,550 crore while its total income surged 142% YoY to ₹ 3057 crore during the same period. Meanwhile, Adani Energy Solutions has seen a 166% YoY rise in Q4 PAT along with a 127% jump in total income. Despite that, Adani Energy shares have cracked 29% in a year, plagued by various issues ranging from US bribery indictment to regulatory scrutiny. Late last night, The Wall Street Journal reported that the US prosecutors are probing the Indian conglomerate's possible dealings with sanctions-hit Iran, resulting in a decline in the company's shares today, June 3. Apart from these two biggies, from the 56 mid-cap and small-cap stocks that featured on the list, some prominent names are Zen Technologies, KPI Green Energy, Bharat Dalmia, Keystone Realtor, Allcargo and MRP Agro, among others. The multibagger small-cap defence stock Zen Technologies (up 117% in a year) has hogged the limelight amid the India-Pakistan conflict amid Operation Sindoor. In the last one month alone, the stock has gained 55%. During the March 2024 quarter, it witnessed a 157% jump in Q4 PAT and a 126% rise in Q4 income to ₹ 85 crore and ₹ 494 crore, respectively. However, domestic brokerage Motilal Oswal had downgraded the stock to 'Neutral' from 'Buy', citing expensive valuations amid a strong run-up. KPI Green Energy, another small-cap multibagger, saw a 232% growth in profit. Meanwhile, Dalmia Bharat's PAT surged a whopping 600%. In the small-cap space, Harsh Goenka-owned RPG Life Sciences reported a massive 786% jump in Q4 profit to ₹ 117.35 crore, while its income rose 101% YoY to ₹ 258.05 crore. Some 13 minnows also posted a four-digit PAT growth, which included names like Corporate Merchant Bankers, Choice International, Indian Hume Pipes, MRF Agro and Yogi Limited. Maharashtra Scooters stood out for reporting a 51,530% YoY surge in Q4 PAT, as the bottomline jumped from ₹ 0.1 crore to ₹ 51.63 crore. Its revenue also zoomed 1144% YoY. Analysts at Motilal Oswal Financial Services said that the quality of results was notable in Q4, with widespread distribution of strong growth across several mid-cap sectors – in several cases better than the large-cap counterparts. While some small-caps stood out for their exceptional performance, MOSL added that the segment overall missed estimates. "The small-cap segment saw a sharp earnings miss in Q4FY25, with overall PAT down 16% YoY—significantly worse than the already muted expectations. Financials, retail, and discretionary consumption dragged down performance, while only a few sectors like EMS and Capital Goods delivered meaningful gains," it said. Commenting on the outlook for small-cap stocks' earnings, MOSL said that small-caps remain a barbell segment — capable of both strong rebounds and deep corrections. "Earnings volatility remains high, and stock selection is critical. Investors should focus on quality names with sustainable business models, visibility, and operating leverage," the brokerage advised. With the macroeconomic conditions favourable, the only missing piece for the Indian stock market has been the earnings recovery. However, despite the Q4 earnings season being better than expected, analysts at Kotak Institutional Equities expect markets to be rangebound. The Indian market may stay rangebound over the next few months given (1) rich valuations in general, (2) continued weakness in domestic consumption and investment demand and (3) global geopolitical and macroeconomic uncertainty, KIE said. It believes that the large-cap index may find some support from continued optimism among investors about India's long-term growth prospects and lower interest rates. However, it cautioned that small-cap and mid-cap stocks still have a long way to correct to their fair values. (Note: For the purpose of this study, companies with profit of less than ₹ 1 crore were not considered) Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
4 days ago
- Entertainment
- New Indian Express
Ernakulam Court disposes anticipatory bail plea of actor Unni Mukundan in assault case filed by former manager
The charges listed in the FIR include voluntarily causing hurt, wrongful restraint, criminal intimidation, and obscene acts. Counsel for Unni Mukundan submitted that the allegations of physical assault made by the complainant are entirely baseless, malicious, and a figment of imagination, intended solely to defame the actor and subject him to mental distress and public humiliation. The defence further claimed that the allegations form part of a conspiracy. The Infopark Police registered the case against the actor on Tuesday, based on a complaint lodged by his former manager. In the complaint, Vipin Kumar alleged that Unni Mukundan summoned him to the parking area of the DLF apartment complex in Kakkanad, where he verbally abused and physically assaulted him. Vipin further claimed that the actor has been experiencing prolonged emotional distress and has faced frequent ridicule. He alleged that despite the success of his most recent film, Marco, Unni has not received any promising film offers, and many of his close associates have since distanced themselves from him.
Time of India
6 days ago
- Business
- Time of India
Gurgaon's Southern Peripheral Road: A booming real estate hub with Rs 100,000 crore projects
DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch. (AI image) Southern Peripheral Road (SPR) in Gurgaon has become the region's most dynamic micro-market, with developments valued at Rs 50,000 crore initiated since 2022, whilst an additional Rs 50,000 crore worth of projects are scheduled for the next three years. Property values along SPR have shown substantial growth in five years, increasing from Rs 7,690 per sq ft in 2020 to Rs 18,000 per sq ft by mid-2024. DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch, with the subsequent phase expected this quarter. "Gurugram is growing fast, with many new infrastructure projects. One of the fastest-growing areas is SPR. When people think about buying a home, location plays the crucial role in the decision-making," said Aakash Ohri, Joint MD and Chief Business Officer, DLF Homes according to an ET report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The value increase is primarily due to enhanced infrastructure, including expanded roads and new flyovers, improving connections to Golf Course Road, Sohna Road, and NH-48. "Demand for properties has surged in and around SPR, particularly since the second half of 2021. The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand," said Pradeep Aggarwal, founder and chairman, Signature Global. Signature Global, owning a 93-acre plot in the vicinity, has launched over 2.1 million sq ft of development and plans an additional 14.9 million sq ft. The 16-km SPR corridor, connecting Gurgaon-Faridabad Road to NH-48, has considerably enhanced accessibility and property values. At a projected sales rate of Rs 18,000 per sq ft, Signature Global's forthcoming projects in the area are anticipated to achieve total sales of Rs 27,000 crore. Trump Residences, recently announced, is situated within the SPR zone. "The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past," said Pankaj Bansal, co-founder, Smartworld Developers. A development launched in 2023 in Sector 76 along SPR at Rs 10,500 per sq ft experienced significant appreciation of nearly 64%, with current rates around Rs 17,250 per sq ft. "The real estate market in NCR, particularly Gurugram, is set to reach new highs driven by infrastructure upgrades, rising housing demand, and a vibrant commercial ecosystem. Completion of key projects like the Dwarka Expressway, SPR, and the Rapid Transit System will enhance connectivity and fuel demand from both homebuyers and investors," said Navdeep Sardana, founder, Whiteland Corporation.
