Latest news with #ManishChowdhury
Time of India
20-05-2025
- Business
- Time of India
Protean eGov Technologies: Protean eGov Technologies shares plunge 20% after downgrade amid PAN 2.0 project withdrawal
Mumbai: Shares of Protean eGov Technologies , a digital public infrastructure company, plunged 20% - the lowest tradable limit of the day - on Monday as analysts downgraded the stock after the company said the company is no longer in contention for the government's PAN 2.0 project Brokerage Equirus Securities slashed its rating on the stock to sell and price target for March 2026 to ₹900, implying further downside of 21% from Monday's closing of ₹1,143.2."This is a material negative as PAN services contribute 50% of the company's revenue," said the brokerage in a client note. "While FY26 impact may be muted, we expect a 75-100% collapse in this revenue stream over the next 2-3 years."As of March 31, Canara Bank Axis Bank and Bank of Baroda jointly owned 13.17% in the firm, which is entirely owned by public shareholders. Investor Ramesh Damani held 1.05% in the company."Protean gets about 45-50% of its revenue from PAN operations, so losing the PAN 2.0 contract could hit its earnings from FY27 unless it secures new projects," said Manish Chowdhury, head of research, StoxBox. " There's also talk of a pricing revision for its NPS project in FY27, which, if materialised, could hurt profits."
Economic Times
20-05-2025
- Business
- Economic Times
How will Resonac's plant closures impact the global graphite market?
Graphite electrodes are mainly used in steelmaking and by chemical firms. China is the world's leading producer of graphite, used for military applications and the making of electric vehicle batteries. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Graphite electrode manufacturers HEG and Graphite India surged on Monday in weak trading following news reports that Japan's Resonac Holdings will shut down its China and Malaysia plants. Resonac is a major producer of graphite electrodes , used for electric arc furnace (EAF) of Graphite India jumped 15.1% to close at ₹560. HEG shares advanced 7.7% to end at ₹528.3."Resonac's Chinese and Malaysian plants account for about one-third of the company's total graphite production," said Manish Chowdhury, head of research at Stoxbox. "While the global supply of graphite will go down post this move, demand remains intact, in tandem with demand for metals and other industrial usages, which can now be fulfilled by Indian companies."Chowdhury expects prices of graphite electrodes to firm up due to a demand-supply electrodes are mainly used in steelmaking and by chemical firms. China is the world's leading producer of graphite, used for military applications and the making of electric vehicle HEG derives almost 70% of its revenues from exports, Graphite India earns around 35% of its revenues from of Graphite India are down 1.4% this year, whereas HEG shares have remained flat in 2025 so far. The benchmark NIfty 500 is up 1.7% in this brokerage B&K Securities assigned a 'Buy' rating on Graphite India, with a price target of ₹718, citing an upward trend in graphite electrode (GE) implies 28.2% upside from Monday's close.
Time of India
20-05-2025
- Business
- Time of India
Protean eGov Technologies shares plunge 20% after downgrade amid PAN 2.0 project withdrawal
Mumbai: Shares of Protean eGov Technologies , a digital public infrastructure company, plunged 20% - the lowest tradable limit of the day - on Monday as analysts downgraded the stock after the company said the company is no longer in contention for the government's PAN 2.0 project . Brokerage Equirus Securities slashed its rating on the stock to sell and price target for March 2026 to ₹900, implying further downside of 21% from Monday's closing of ₹1,143.2. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like See the Latest Apartment Deals in Marrakech (Take a Look) Apartments for rent | Search Ads Learn More Undo Agencies "This is a material negative as PAN services contribute 50% of the company's revenue," said the brokerage in a client note. "While FY26 impact may be muted, we expect a 75-100% collapse in this revenue stream over the next 2-3 years." As of March 31, Canara Bank , PNB , SBI , Axis Bank and Bank of Baroda jointly owned 13.17% in the firm, which is entirely owned by public shareholders. Investor Ramesh Damani held 1.05% in the company. "Protean gets about 45-50% of its revenue from PAN operations, so losing the PAN 2.0 contract could hit its earnings from FY27 unless it secures new projects," said Manish Chowdhury, head of research, StoxBox. " There's also talk of a pricing revision for its NPS project in FY27, which, if materialised, could hurt profits." Live Events
Time of India
20-05-2025
- Business
- Time of India
How will Resonac's plant closures impact the global graphite market?
Mumbai: Graphite electrode manufacturers HEG and Graphite India surged on Monday in weak trading following news reports that Japan's Resonac Holdings will shut down its China and Malaysia plants. Resonac is a major producer of graphite electrodes , used for electric arc furnace (EAF) steelmaking. Shares of Graphite India jumped 15.1% to close at ₹560. HEG shares advanced 7.7% to end at ₹528.3. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Rich Man Keeps Annoying Royal Guard, But He Didnt Expect This To Happen Beach Raider Undo "Resonac's Chinese and Malaysian plants account for about one-third of the company's total graphite production," said Manish Chowdhury, head of research at Stoxbox. "While the global supply of graphite will go down post this move, demand remains intact, in tandem with demand for metals and other industrial usages, which can now be fulfilled by Indian companies." Chowdhury expects prices of graphite electrodes to firm up due to a demand-supply imbalance. Graphite electrodes are mainly used in steelmaking and by chemical firms. China is the world's leading producer of graphite, used for military applications and the making of electric vehicle batteries. Live Events While HEG derives almost 70% of its revenues from exports, Graphite India earns around 35% of its revenues from exports. Shares of Graphite India are down 1.4% this year, whereas HEG shares have remained flat in 2025 so far. The benchmark NIfty 500 is up 1.7% in this period. Recently, brokerage B&K Securities assigned a 'Buy' rating on Graphite India, with a price target of ₹718, citing an upward trend in graphite electrode (GE) prices. This implies 28.2% upside from Monday's close.
Time of India
30-04-2025
- Business
- Time of India
Rising India-Pak tension fires up defence stocks
Analysts said these stocks could gain about 10-15% further from these levels also on expectations of strong fourth quarter results. Paras Defence soared 20% on Tuesday, while Data Patterns (India) and Garden Reach Shipbuilders and Engineers surged 14.9% and 12.3% respectively. Cochin Shipyard and Mazagon Dock Shipbuilders jumped 10% and 8.7% each. Unimech Aerospace and Manufacturing and DCX Systems India gained over 6%. Hindustan Aeronautics rose 4.15% and Bharat Electronics moved 4% higher. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Shares of companies operating in the defence sector were among the top gainers in a flat market on Tuesday as the heightened conflict between India and Pakistan boosted investor appetite. Paras Defence soared 20% on Tuesday, while Data Patterns (India) and Garden Reach Shipbuilders and Engineers surged 14.9% and 12.3% respectively. Cochin Shipyard and Mazagon Dock Shipbuilders jumped 10% and 8.7% each. Unimech Aerospace and Manufacturing and DCX Systems India gained over 6%. Hindustan Aeronautics rose 4.15% and Bharat Electronics moved 4% said these stocks could gain about 10-15% further from these levels also on expectations of strong fourth quarter results."Tensions between India and Pakistan are pushing the defence stocks higher as investors are sentimentally positive on these stocks," said Manish Chowdhury, head of research, StoxBox.'Given the good numbers reported by Mazagon Dock Shipbuilders, other companies are also expected to post strong results this quarter.' The fresh conflict is perceived to boost government spending for defence, resulting in higher of 18 stocks on Nifty India Defence Index, 17 advanced and 1 declined on Tuesday. The Nifty India Defence Index gained for the second straight session on Tuesday, advancing 5% on Tuesday after moving 4% higher on Monday. The benchmark Nifty has risen 1.2% in the previous two trading Khemka, head of retail research, Motilal Oswal Financial Services , said the Rafale deal between India and France for 26 aircrafts worth `63,000 crore and reports on allocation of Rs 25,000 crore for the maritime development fund announced in the Budget have contributed to the recent jump in defence stocks.'Further upside potential of around 10-15% exists in these stocks in the near term as defense spending is likely to go up and the results are anticipated to be strong this quarter,' said Khemka. 'Investors with a 2-3-year investment horizon can also buy in the space.'
