Latest news with #LakshmishreeInvestments
Mint
30-05-2025
- Business
- Mint
MMTC share price surges over 50% in May; is it still a stock to buy?
MMTC share price continued witnessing strong buying interest for the third consecutive session on Friday, May 30, rising over 8 per cent in morning trade on the BSE. MMTC share price opened at ₹ 84.21 against its previous close of ₹ 81.36 and surged 8.4 per cent to an intraday high of ₹ 88.20. At this price, the stock has jumped 38 per cent in three sessions and 57 per cent in May after an 8 per cent gain in April and a 6 per cent gain in March. MMTC share price hit a 52-week low of ₹ 42.55 on April 7 this year and a 52-week high of ₹ 131.88 on July 26 last year. MMTC on May 29 reported a 96.8 per cent year-on-year plunge in its consolidated net profit for Q4FY25 to ₹ 2.23 crore, compared to ₹ 69.78 crore in the same quarter last year. Total income dropped 32 per cent YoY to ₹ 44.14 crore in Q4FY25 from ₹ 64.98 crore in Q4FY24. The stock's sharp gains since March have stretched its valuations. Its current trailing twelve-month price-to-earnings (PE) ratio, near 150, is high in the industry. The stock looks overbought, and technical charts indicate the possibility of a profit booking. Anshul Jain, the head of research at Lakshmishree Investments, highlighted that MMTC stock broke out of a cup and handle pattern at ₹ 63 and rallied sharply, testing the 50 per cent retracement level of its 66.25 per cent fall over 37 weeks, placed at ₹ 86. "The rally has been steep and vertical, indicating that profit booking at current levels is highly likely. Traders are advised to book profits and wait for a fresh accumulation or consolidation pattern to develop before considering new long positions for the next leg," said Jain. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
22-05-2025
- Automotive
- Mint
Hyundai Motor shares approach IPO price after gaining 20% from April lows. Will the rally hold up?
Hyundai Motor India share price in focus: Hyundai Motor India's share price declined by 3% on Thursday, May 20, settling at ₹ 1,854 per share amid a broad-based sell-off in the Indian equity market. Despite the dip, the stock has been on a steady upward trajectory in recent weeks, rebounding sharply from its April 7 low of ₹ 1,541. Since then, it has rallied nearly 20%, bringing it within close range of its IPO price of ₹ 1,960—just 5.4% below its latest trading value. Notably, the stock has yet to breach its IPO price since its market debut, despite multiple attempts that were met with resistance and pullbacks. The highest level the stock has touched since listing was ₹ 1,929 per share, recorded in early February. As the stock once again attempts to breach its IPO price, Anshul Jain, Head of Research at Lakshmishree Investments, stated that the stock is forming a 142-day-long IPO base with a pivot breakout level at ₹ 1,935. However, he noted that the base lacks institutional accumulation and follows a sharp run-up, which makes the breakout zone potentially vulnerable. "A breakout above ₹ 1,935 must be accompanied by significant volume to confirm bullish intent. Conversely, if the stock fails to sustain above ₹ 1,935, it could trigger long liquidation, dragging it down toward ₹ 1,750. Traders should wait for clear volume cues before initiating positions," he further added. The company made its debut on Dalal Street in October 2024, listing at ₹ 1,934 per share against the IPO price of ₹ 1,960. Following the muted listing, the stock remained volatile, moving back and forth amid concerns over its rich valuations. The company successfully raised ₹ 27,870 crore from Indian investors, marking the largest IPO fundraise in the country's history. Following the announcement of the company's March quarter results on May 16, brokerage firms have retained their optimistic outlook on Hyundai Motor India. Motilal Oswal noted that the company remains well-positioned to benefit from the premiumization trend in India, given its strong SUV portfolio. It has maintained a 'buy' rating on the stock with a target price of ₹ 2,137 per share. Kotak Institutional Equities raised its target price from ₹ 2,000 to ₹ 2,050 per share while retaining its 'buy' recommendation. The brokerage stated, 'We expect near-term demand trends to remain muted due to weak consumer sentiment, limited new launches, and a high base.' However, it expects industry trends to improve from H2FY26E, with Hyundai Motor India likely to gain market share driven by new launches in the SUV and MPV segments across multiple powertrains. Similarly, Japanese brokerage firm Nomura also revised its target price upward to ₹ 2,291, maintaining its 'buy' rating. CLSA and Macquarie have both assigned an 'outperform' rating, with target prices of ₹ 2,155 and ₹ 2,100 per share, respectively. The company reported a 4 per cent YoY dip in its consolidated profit after tax to ₹ 1,614 crore, while the revenue from operations rose by 1.52 per cent YoY to ₹ 17,940 crore. 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.
Mint
21-05-2025
- Automotive
- Mint
Bajaj Auto share price recovers 24% from April lows. Is the rally sustainable?
Bajaj Auto share price in focus: Shares of Bajaj Auto, one of the leading two-wheeler manufacturers, resumed their winning streak on Wednesday, May 21, gaining 2.5% to hit the day's high of ₹ 8,765 apiece. This came after a brief pause in the previous session due to a sudden market crash. Since May 8, the shares have strengthened 13.5%. However, analysts see limited upside in the stock amid a lack of volume. Anshul Jain, Head of Research at Lakshmishree Investments, said that Bajaj Auto has formed a bearish reversal structure on the daily chart, coinciding with the auto index correcting from its swing high. "The stock's recent rally lacked volume strength, and the ongoing reversal is also occurring on lower volumes, indicating weak bullish conviction. A follow-through move on the downside is likely, with the 20-day EMA placed near 8,250 acting as the next logical target in the short term if selling pressure persists," he further stated. After being under pressure for six consecutive months, the shares made a comeback in early April and have maintained their momentum so far in the current month. As a result, the stock has recovered 24% from its April 7 low of ₹ 7,089 apiece. Despite this notable recovery, the stock is still trading 33% below its all-time high of ₹ 12,744 apiece recorded in September 2024. Recent media reports stated that its wholly owned subsidiary, Bajaj Auto International Holdings BV, Netherlands, secured a €566 million loan from offshore lenders, speculating that the funds may be used for the restructuring of KTM AG. In its regulatory filing on May 19, the company clarified that it is currently in negotiations and exploring various alternatives to participate in the restructuring of KTM AG, pursuant to a plan approved by the latter's creditors. "Involvement by Bajaj Auto BV in the restructuring as well as arrangements in this behalf are being finalized, and the company will make necessary disclosures at the appropriate time in accordance with Regulation 30 of the Listing Regulations," the company said. Meanwhile, the company is scheduled to release its financial results for the March quarter on May 29. It posted a 6% decline in its total sales to 365,810 units in April, against 388,256 units sold a year ago. Domestic sales were down 11% year on year to 220,615 units, while exports were up 4% to 145,195 units. In the reported month, two-wheeler sales dropped 7% to 317,937 units, while commercial vehicle sales grew by 3% to 47,873 units. 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.
Mint
13-05-2025
- Business
- Mint
Premier Explosives share price slumps 6% after Telangana factory closure notice
Premier Explosives share price fell nearly 6% during Tuesday's trading session following a factory closure notice from the Telangana Pollution Control Board. The firm announced that it had been issued a directive from the Telangana Pollution Control Board in Hyderabad, Telangana, to immediately halt all operations at its factory located in Katepally Village, Motakondur Mandal, Yadadri-Bhuvanagiri District, Telangana. An incident involving a fire and explosion took place on April 29, 2025, resulting in the deaths of three individuals and injuries to six others. The company is pursuing all necessary actions with the Telangana Pollution Control Board to regain its operating consent as soon as possible. In March, the company secured an export order worth ₹ 18.90 crore for the delivery of defence explosives to be completed within 5 months. Additionally, it received another export order for ₹ 21.45 crore for the supply of defence explosives, also to be delivered within a 5-month timeframe. Premier Explosives specialises in the production of high-energy materials, including bulk explosives, packaged explosives, detonators, detonating fuses, solid propellants, pyrogen igniters, and pyro devices, which are utilised in sectors such as mining, infrastructure, defense, space, and homeland security. Premier Explosives share price today opened at ₹ 445.80 apiece on the BSE, the stock touched an intraday low of ₹ 425 per share, and an intraday high of ₹ 447.25 per share. Anshul Jain, Head of Research at Lakshmishree Investments said that Premier Explosives share price is trading in a defined range of ₹ 485– ₹ 435, and this consolidation is likely to persist for a few more weeks. 'Premier Explosives share price is consistently facing selling pressure near the upper band, increasing the chances of a dip toward the ₹ 435 support zone. Volume activity remains weak and lacks signs of accumulation, indicating low conviction from buyers. Until a clear breakout occurs, range-bound strategies may be more effective, with caution near resistance levels,' said Jain. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
09-05-2025
- Business
- Mint
KPR Mill Q4 results: Net profit falls 4% to ₹204.6 crore; declares dividend of ₹2.5 per share
KPR Mill on Friday reported a consolidated net profit of ₹ 204.6 crore for the fourth quarter of FY25, registering a fall of 4.2% from ₹ 213.6 crore in the same quarter last year. The company's consolidated revenue in Q4FY25 increased 4.2% to ₹ 1,769 crore from ₹ 1,697 crore, year-on-year (YoY). KPR Mill's board of directors also recommended a dividend of ₹ 2.5 per share. At the operational level, earnings before interest, tax, depreciation and amortization (EBITDA) during the quarter ended March 2025 decreased 0.6% to ₹ 333 crore from ₹ 335 crore, while EBITDA margin contracted to 18.8% from 19.7%, YoY. KPR Mill's board of directors also recommended a dividend of ₹ 2.5 per share for FY25, aggregating to 250% of the face value of Re 1 each. The board of directors of the company recommended 250% Final Dividend for FY 2024-25 (Rs.2.50/- per equity share of Re. 1/- each) subject to the approval of the Shareholders of the Company (Aggregating to 500% for the Financial Year 2024-25), KPR Mill said. KPR Mill share price jumped to hit a 52-week high after the announcement of Q4 results today. KPR Mill shares spiked as much as 17.56% to a fresh high of ₹ 1,395.40 apiece on the BSE. Anshul Jain, Head of Research at Lakshmishree Investments said that KPR Mills share price has broken out of a bullish 94-day cup and handle pattern on the daily charts, with the breakout confirmed at ₹ 1,120. The last three sessions have witnessed volumes exceeding 1000% of the 50-day average, signaling strong institutional participation and bullish sentiment. With this decisive move, the stock has entered a momentum phase and is now headed towards its immediate resistance and target zone of ₹ 1,450–1,500 in the short term. On Friday, KPR Mill share price ended 7.93% higher at ₹ 1,281.05 apiece on the BSE.
