Latest news with #HDFCSecurities
Economic Times
8 hours ago
- Business
- Economic Times
Kaynes Technology shares soar over 15% in 2 days. Should you invest now?
Kaynes Technology shares surged 15.5% in two sessions after posting a 47% YoY rise in Q1FY26 net profit to Rs 74.6 crore. Revenue jumped 34% to Rs 673.5 crore. Brokerages remain divided—Motilal Oswal has a 'Buy' with Rs 7,300 target, while HDFC Securities has a 'Reduce' with Rs 6,310 target, citing strong growth but rich valuations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads After the company's Q1 results, here is what brokerage firms said: Motilal Oswal: Buy | Target Price: Rs 7,300 Shares of Kaynes Technology India surged 15.5% over two trading sessions to hit a high of Rs 6,405 on the BSE, following the release of its financial results for the first quarter of FY26. The company reported a 47% year-on-year (YoY) increase in consolidated net profit, which rose to Rs 74.6 crore in Q1FY26 from Rs 50.8 crore in the same period last from operations for the quarter stood at Rs 673.5 crore, reflecting a 34% YoY growth compared to Rs 504 crore reported in Q1FY25. EBITDA (excluding other income) rose by 69% to Rs 113 crore, up from Rs 66.9 crore in the corresponding quarter of the previous company's EBITDA margin improved to 16.8%, representing an expansion of 350 basis points from 13.3% in margin for the quarter increased to 11.1%, up 100 basis points from 10.1% in the year-ago quarter. The company's order book stood at Rs 7,401.1 crore as of June 30, 2025, compared to Rs 5,038.6 crore as of June 30, worth rose to Rs 4,502.8 crore as of June 30, 2025, from Rs 2,535.2 crore a year Oswal has a Buy rating on the stock with a target price of Rs 7,300, based on 55x FY27E brokerage noted that Kaynes Technology delivered a robust all-round performance in Q1FY26. With a strong order book of Rs 7,400 crore as of June 2025, the company is expected to maintain its revenue growth momentum. Motilal Oswal further stated that Kaynes is well-positioned to sustain growth and profitability, supported by improving operating leverage, a favorable order mix, and continued investments in high-tech verticals. It estimates a revenue/EBITDA/adjusted PAT CAGR of 58%/65%/74%, respectively, over FY25– Securities has a 'Reduce' rating on the stock with a target price of Rs 6,310, based on a valuation of 60x FY27E brokerage noted that Kaynes Technology's revenue grew 34% YoY to Rs 6.74 billion, led by a 43% growth in the industrial segment, while the automotive, railways, IoT/IT, and medical segments recorded growth of 24%, 17%, 34%, and 34% YoY, respectively. Gross margin expanded 1,400 basis points to 41.3%, and EBITDA margin improved 350 basis points YoY to 16.8%, despite higher employee costs and other resulted in a 69% YoY rise in EBITDA, and adjusted PAT (APAT) growth of 47% YoY. The company's order book stood at Rs 74 billion, up 47% YoY and 12% QoQ, or 2.7x FY25 revenue. Management has projected over 60% YoY revenue growth and 16–17% EBITDA margins for brokerage also noted that the Sanand OSAT and Chennai HDP PCB facilities are on track for commissioning by Q3FY26 and Q4FY26, respectively, with a total capex plan of Rs 34 billion and Rs 14 billion by FY28.
Mint
9 hours ago
- Business
- Mint
Sun Pharma shares fall 5.7% post Q1 results: What should investors do now?
Sun Pharmaceutical Industries saw its shares tumble by 5.7 percent to an intraday low of ₹ 1,608.30 on the BSE on Friday, following the announcement of its first-quarter results for FY26. The stock's decline was largely triggered by a sharp 20 percent year-on-year fall in consolidated net profit to ₹ 2,278 crore for the June 2025 quarter, compared to ₹ 2,836 crore in the same quarter last year. On a sequential basis, however, net profit rose 6 percent from ₹ 2,150 crore reported in the March 2025 quarter. Adding to the negative sentiment was the fact that several brokerages revised their target prices downward for the pharma major. Despite the profit drop, Sun Pharma posted a healthy top-line performance. The consolidated revenue grew over 9 percent year-on-year to ₹ 13,851 crore, driven by solid momentum across its key markets—including India, the US, and Rest of World (ROW) geographies. EBITDA rose by 19.2 percent to ₹ 4,302 crore, with margins expanding to 31.1 percent from 28.5 percent in the same period last year. Commenting on the performance, Dilip Shanghvi, Chairman and Managing Director of Sun Pharma, said the company delivered a strong quarter with consistent growth across markets. 'India continues to show strong momentum, contributing meaningfully to the overall performance. The U.S. launch of LEQSELVI is a significant milestone, expanding our dermatology portfolio and strengthening our Innovative Medicines business,' he said. Brokerages React: Trimming Targets, Watching Specialty Growth HDFC Securities lowered its FY26 and FY27 EPS estimates by 7 percent and 6 percent respectively and cut the target price to ₹ 1,960, valuing the stock at 33x Q1FY28E EPS. While it expects strong momentum in the specialty segment—including a ramp-up in Leqselvi and launch of Unloxcyt—HDFC Sec noted that increased investment spending of USD 100 million starting Q2FY26 and a 25 percent tax guidance were negatives. However, it maintained a positive outlook on India formulations and continued R&D spends (6–8 percent of sales), expecting a mid- to high-single-digit revenue growth trajectory and stable EBITDA expansion. JM Financial maintained a 'Buy' rating with a target price of ₹ 1,999. The brokerage termed Sun Pharma's Q1FY26 performance strong due to a better product mix and lower cost of goods sold. JM highlighted robust 14 percent YoY growth in India business and 17 percent growth in global specialty. While US generics remained under pressure, exports from Emerging Markets and ROW remained firm. The brokerage expects the new specialty launches, such as Leqselvi and Unloxcyt, alongside expansion of Ilumya and Winlevi, to drive the next leg of growth. Sun Pharma is projected to clock an 11 percent revenue CAGR over FY25–FY28, supported by a healthy cash balance of USD 3.5 billion and continued focus on oncology, ophthalmology, and dermatology. Motilal Oswal Financial Services reduced its target price to ₹ 1,960 from ₹ 2,000, while maintaining a 'Buy' call. The brokerage expects Sun Pharma's innovative and branded portfolio to continue providing earnings support, although it trimmed FY26 and FY27 EPS estimates by 5 percent and 4 percent respectively due to higher operating costs and tax outgo. It believes regulatory clarity on US tariffs remains a key monitorable but sees recent launches like Leqselvi and Ilumya pipeline filings boosting the company's specialty segment. It anticipates a 14 percent CAGR in earnings through FY27. Disclaimer: 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.
Reuters
11 hours ago
- Business
- Reuters
Indian shares slip as US unleashes steep tariffs
Aug 1 (Reuters) - Indian shares declined on Friday after the United States slapped steep tariffs on exports from dozens of trading partners and reiterated a 25% duty on India ahead of a trade deal deadline. The Nifty 50 (.NSEI), opens new tab fell 0.33% to 24,685.15 points and the BSE Sensex (.BSESN), opens new tab lost 0.28% to 80,970.31 as of 10:02 a.m. IST. Fourteen of the 16 major sectors declined while the broader smallcaps (.NIFSMCP100), opens new tab and midcaps (.NIFMDCP100), opens new tab fell about 0.75% each. India's benchmark indexes fell as much as 0.9% on Thursday, but pared some losses at close as investors saw the 25% tariff as a pressure tactic, hoping for lower rates once negotiations conclude. The trade talks between the two countries are continuing, U.S. President Donald Trump said on Wednesday. On Thursday, Trump set rates including a 35% duty on many goods from Canada, 50% for Brazil, 20% for Taiwan and 39% for Switzerland, according to a presidential executive order. "Markets have resumed their downward trajectory, primarily due to U.S. tariffs, persistent foreign outflows and soft earnings," said Nandish Shah, deputy vice president at HDFC Securities. Among individual stocks, Sun Pharmaceutical Industries ( opens new tab lost 4%, making it the worst Nifty 50 loser, after reporting quarterly earnings. Brokerage Investec downgraded Sun Pharma shares by two notches to "sell", forecasting weaker earnings over the next three quarters. The shares led losses in pharma index (.NIPHARM), opens new tab, which lost 2.3%. Consumer goods giant Hindustan Unilever ( opens new tab rose 4% after posting higher quarterly profit amid a rural recovery. Goldman Sachs upgraded the stock to "buy" from "neutral", citing potential acceleration in revenue growth. PNB Housing Finance ( opens new tab tumbled 15.4% after the company's managing director and chief executive officer, Girish Kousgi, announced his resignation post-market hours on Thursday. Analysts called the resignation a setback, noting Kousgi's key role in boosting profitability and asset quality. ($1 = 87.5700 Indian rupees)
Mint
a day ago
- Business
- Mint
Nagaraj Shetti suggests Alkyl Amines, Star Health shares to buy in the short term; do you own?
Stock market today: Indian stock markets reduced their initial declines on Thursday as investors perceived the US threat of a 25% tariff and unspecified penalties, set to take effect on August 1, more as a bargaining strategy than a definitive action. As of 11:40 IST, the Nifty 50 was down 0.26% at 24,791.45 points, while the BSE Sensex fell 0.28% to 81,259.37. Both indices had dropped approximately 0.9% during early trading. Following the tariff announcement, President Donald Trump indicated that the US is still in trade negotiations with India. The proposed 25% tariff on Indian imports, along with a penalty related to energy and defense agreements with Russia, poses a clear short-term threat to exports and GDP growth, according to three analysts. As per Nagaraj Shetti from HDFC Securities, any additional decline in the Nifty 50 may encounter significant support between the 24,600 and 24,500 levels in the upcoming sessions. Shetti recommends two stocks to buy in the short-term. Here's what Shetti says about the overall market. After showing a narrow range movement on Wednesday, Nifty 50 slipped into sharp weakness on Thursday on the backdrop of US President Trump's announcement of 25% tariff and penalty on the trade deal with India and the Nifty 50 is now trading lower by 100 amidst recovery from the lows. The recent bullish pattern like bullish engulfing is still intact and Nifty 50 seems to have taken support of 24,600 for the short-term. Further weakness from here could find strong support around 24,600-24,500 levels in the coming sessions. Immediate hurdle to be watched around 24,900. Nagaraj Shetti of HDFC Securities recommends these two stocks to buy in the short-term - Alkyl Amines Chemicals Ltd, and Star Health and Allied Insurance Company Ltd. After showing a reasonable downward correction in last week, the stock price has witnessed sharp upmove so far this week. The stock price has broken above the hurdle of down sloping trend line at ₹ 2,250 and is trading higher. Volume and RSI pattern shows positive indication. The range bound movement of the last few weeks seems to be ending now for this health insurance stock. The stock is currently placed at the edge of upside breakout of 200day EMA at ₹ 448-450 levels. Bullish pattern like higher highs and lows is intact. Daily RSI shows positive indication. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Indian Express
2 days ago
- Business
- Indian Express
Rupee logs biggest single-day fall in nearly 3 months on FII selling pressure
The rupee depreciated 61 paise on Wednesday, recording its biggest single-day fall in nearly three months, on higher month-end demand for dollar and aggressive selling by foreign portfolio investors (FPIs). The domestic currency ended at 87.43 against the US dollar, after opening at 87.12, down 30 paise compared to the previous close of 86.82. The currency also weakened following comments from US President Donald Trump which suggested that India could face tariffs ranging from 20-25 per cent, analysts said. Later in the day, after Indian market hours, Trump announced on social media platform Truth Social that India would face a tariff of 25 per cent, effective August 1, as well an unspecified penalty for importing energy and defence goods from Russia. Intraday, the currency touched a high of 87.0663 and a low of 87.5125. The fall in the rupee on Wednesday was the sharpest single-day fall since May 8 when it had tumbled 89 paise to 85.72. In the last 11 trading sessions, the rupee has depreciated by 161 paise, or close to 2 per cent, amid uncertainties related to US tariffs. 'The Indian rupee exhibited its most significant single-day decline since May 8, reaching a five-month low. This sharp depreciation was primarily driven by increased month-end dollar demand and outflows from foreign funds,' said Dilip Parmar, senior research analyst, HDFC Securities. In the past one week, FPIs have sold Rs 16,370 crore of domestic shares, exerting pressure on the rupee as foreign investors continued to buy dollars and offload the local currency. Analysts also attributed the sharp decline in the rupee to the Reserve Bank of India's (RBI) absence in the forex market on Wednesday. RBI has always maintained that its intervention in the rupee market is only to contain volatility in the exchange rate, and not to target specific level. Once the rupee breached the psychological level of 86.9, it triggered higher demand for dollars from importers, including from oil companies, and triggered short covering. 'Rupee traded weak, breaching the 87.4 mark with a decline of 0.72 per cent, as rising crude prices and a stronger dollar index weighed on sentiment,' said Jateen Trivedi, VP research analyst – commodity and currency, LKP Securities. Market participants also remained cautious ahead of the US Federal Reserve's policy announcement later in the day on Wednesday. Following the substantial rally in the rupee since the start of this month, the immediate support level for spot USD/INR has shifted to 87, while the resistance is now seen at 87.70, Parmar said. Analysts expect the rupee to trade in a broader range of 87–87.70. Once it breaks 87 level, the next resistance for the local currency will be 88, forex market analysts said.
