- #TataConsumer to acquire #CapitalFoods and #OrganicIndia for ~ Rs 7,000 crore
- What does it mean for shareholders?
Get your stock queries answered by technical and fundamental guests with Alex Mathew and Smriti Chaudhary on Ask Profit. #NDTVProfitLive
Guest List:
Amit Bhuptani, Derivatives & Technical Research Analyst, Nirmal Bang Securities
Gaurang Shah, Head-Investment Strategist, Geojit Financial Services
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- What does it mean for shareholders?
Get your stock queries answered by technical and fundamental guests with Alex Mathew and Smriti Chaudhary on Ask Profit. #NDTVProfitLive
Guest List:
Amit Bhuptani, Derivatives & Technical Research Analyst, Nirmal Bang Securities
Gaurang Shah, Head-Investment Strategist, Geojit Financial Services
_______________________________________________________
For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia
Visit NDTV Profit for more news: https://www.ndtvprofit.com/
Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports
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TVTranscript
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02:04 Good morning.
02:06 You're watching Ask Prophet on NTV Prophet.
02:08 I'm Smriti Chaudhary, and with me is Alex Matthew.
02:11 And for the next 30 minutes, we'll
02:13 take all your stock-related questions
02:15 and get them answered by our fundamental and technical
02:17 guests.
02:18 So to write to us, you can message us
02:21 on a WhatsApp number that will be on your screen.
02:25 That's there.
02:26 Or you can also write to us on any of our social media
02:29 channels or through the YouTube Live chat.
02:31 I'll be monitoring that as well.
02:33 So do write to us on any of the platforms.
02:36 But let me introduce you to the guests for today.
02:40 We have with us Mr. Gaurang Shah of Jirjit Financial Services
02:44 and Amit Bhuptani of Nirmal Bang Securities.
02:47 Welcome, Gaurang and Amit.
02:49 And thank you for taking the time out.
02:52 Now, before we jump into the questions,
02:55 markets are looking great today.
02:59 It's been a good start to the week, Alex.
03:02 And do give us a little update about--
03:05 I can see that it's still hovering above 22,000 levels.
03:08 But give us a little bit about what
03:10 stocks are pulling up the index.
03:13 That 22,000 number, Smriti, is looking very pretty
03:16 for everybody that's tuning in.
03:18 And what a move it's been, right?
03:20 And we were looking at a few of the metrics that
03:22 have brought us to that point.
03:23 The reliance industry is one of the biggest contributors
03:26 to the move up over the last 1,000 points from 21,000
03:29 to 22,000.
03:30 It's looking strong in trade today as well, up about 1%.
03:34 And you've got quite a few others.
03:36 If you look at the sectoral performance,
03:39 you have the IT index that continues to rule the roost.
03:42 However, it has come off from the high point of the day.
03:46 And it is currently trading with gains of about 2%
03:49 or thereabouts.
03:50 HCL Tech, among the top gainers, but Wipro, one must say,
03:55 is arguably the stock of the day,
03:58 gaining quite significantly.
03:59 HCL Tech, about 2.8%.
04:01 Wipro, about 6.7%, 6.8% off the high point of the day.
04:06 But we are focusing on one particular stock,
04:08 and that's Tata Consumer.
04:10 And this is a stock that is down in trade today.
04:13 It has announced a couple of major acquisitions.
04:17 The two companies that it is acquiring are--
04:20 one, you have Capital Foods, which has the brands
04:24 Ching's as well as the Smith & Jones brand.
04:28 And you also have Organic India.
04:30 Both of them have a cumulative enterprise value
04:33 of about 7,000 crore rupees.
04:35 And we have spelled out some of that,
04:38 but I'm quite curious about what Gorang has to say
04:41 about this latest update and whether or not
04:44 you should consider buying at these levels.
04:46 Gorang, what do you make of the latest announcement?
04:48 I understand that they're going to have to conduct a fund raise,
04:51 and they have, in fact, gotten board approval
04:53 for a rights issue.
04:55 What do you make of the entire scenario as things stand?
04:58 How does a fund investor looking for long-term gains
05:01 get into the stock right now?
05:04 Thank you, Alex, and good morning to all of you.
05:06 So, as a disclosure, we have a buy call
05:10 on Tata Consumer products for a pretty long period of time,
05:13 and we're maintaining a hold on the stock.
05:16 Now, the thing is, when you are in FMCG business, Alex,
05:22 it is very important that you have a sizable amount
05:25 of market presence in terms of products
05:29 that you offer across different verticals.
05:32 And having said that, we have heard a couple of announcements
05:36 from Tata Consumer about their willingness
05:41 to take over existing businesses in terms of competition
05:46 and increasing their presence across different verticals.
05:49 Along with that, there are some very strong power brands
05:52 like Tata Sampan, which is also expanding
05:56 its product profile across the board.
05:58 And, you know, it's like when you are in retail clothing business,
06:03 for example, there is an XYZ company
06:06 which has taken over a large number of labels,
06:09 which is familiar.
06:10 Similarly, in FMCG business, it is very prudent
06:13 that you have a sizable and a decent market presence.
06:17 To do that, Alex, you may have to spend
06:20 a little bit more in the short to medium term
06:23 whenever these kinds of acquisitions roll out
06:26 and they actually become a ground reality.
06:28 So, for a short to medium term, it might put some amount of,
06:31 you know, pressure on the cash flow, on the balance sheet.
06:34 They might have to borrow to do this acquisition.
06:36 But long term, given the kind of new acquisitions
06:39 and expanding your horizons 360 degrees,
06:43 you garner a huge market share.
06:46 And by the virtue of that, you are able to score
06:48 better numbers compared to your competitors.
06:51 Oh, fair point. Do you have, so you have a buy call,
06:53 I would assume, and do you have a target
06:55 that you can share with our viewers?
06:57 Well, so I will referentially give you a target
06:59 because we are in the midst of QT earnings, Alex.
07:02 And it wouldn't be fair on my part to give target
07:05 because we have yet to see the numbers from Tata consumers.
07:08 But yes, we do have a buy call on Tata consumers
07:12 on the fundamental side from a long term point of view.
07:14 Buy/hold, whatever you want to call it.
07:16 Fair point. All right. Point taken.
07:18 We will jump into the queries in just a bit.
07:20 But just because we've hit that 22,000 mark on the Nifty 50,
07:24 I want to hear Amit's very quick view on the benchmark
07:28 and where do we go from here.
07:30 Amit, that key level has been taken
07:32 and we're actually holding above that.
07:34 So what are the key levels that you're watching
07:36 for the benchmark now?
07:38 Good morning. So if you look at the overall market scenario,
07:40 we are seeing that the breakout has been witnessed
07:42 in the last week of trading session on the Friday.
07:45 But currently Nifty is trading in the range of resistance
07:48 zone of 21,900 to 22,100 mark.
07:51 Once if Nifty spot manages to get close about 20 to 100 level,
07:55 there will be a fresh breakout again in the market
07:57 for the second leg of buying towards the 22,400 to 500 range.
08:01 But the downside, the base has been created right now
08:04 towards the 21,800 level.
08:06 So till the time Nifty is not going below 21,800 level,
08:09 till that point of time, we might witness a buying scenario
08:12 and buying opportunity will be witnessed in the market.
08:15 At this point of time also, I will recommend
08:17 a buying recommendation right now for the level upside
08:20 towards the 22,400 to 500 level for next one to two week
08:24 of trading session.
08:26 Understood. Let's start off with the questions now.
08:30 This one's from Bastin from Jhansi.
08:33 He's talking about Tata Motors.
08:35 Now, he wants to know if you should continue holding it.
08:40 Now, last week we saw JLR came out with its numbers
08:44 and pretty strong numbers there.
08:47 I'll come to you, Gaurang, on this Tata Motors.
08:51 Still a positive view.
08:53 Would you recommend holding onto this counter?
08:57 Well, the more we speak about Tata Motors,
08:59 the less it is, isn't it?
09:01 And I think my good friend Alex has a long history
09:05 about our view on Tata Motors, even during troubled times,
09:10 to be very honest.
09:12 And now that the tide has turned, I think our commitment
09:15 towards investment in Tata Motors as a long-term idea
09:21 has only got reinforced with the latest commentary,
09:24 with the numbers, and of course, a very strong possibility
09:29 of the balance sheet becoming debt-free.
09:32 Hangover in terms of JLR is now a thing of the past,
09:35 and it is contributing quite smartly to the balance sheet.
09:38 Their product profile in terms of compact sedan,
09:41 compact SUVs, entry-level SUVs, high-end SUVs,
09:45 electric vehicle portfolio that they have, EVs as we call it,
09:49 is huge and humongous, and it's only going to grow
09:52 going forward from here on.
09:54 Add to it the twist of commercial vehicle business
09:57 that they are into.
09:58 So if I have to put all this thing in perspective,
10:01 we still maintain a positive call on Tata Motors.
10:04 Okay, all right.
10:05 So we've got a medium-term query from Jaya Krishnan,
10:10 who's writing in from Corricode.
10:12 This is on VST tillers.
10:13 So I'll come to you on the charts on this one.
10:17 Amit, what do you make of it?
10:19 He's bought at levels of 3,808.
10:23 He's wondering whether to hold or sell and shift
10:26 to another stock.
10:27 What would you recommend that he do?
10:29 I definitely should shift to another stock
10:31 because we are seeing that the counter has been
10:33 continuously witnessing a sell-off for Zona
10:35 from the upside of 4,000 levels.
10:37 And currently we are seeing that the counter has given
10:39 a breakdown level, and we might witness more 300-point fall
10:43 down towards the 3,250 to 3,200 level.
10:46 So at this point of time, exiting the position
10:48 and converting to another stock would be more recommendable.
10:52 Understood.
10:53 Next up, we have a question from Rajesh Maheshwari.
10:57 He's writing in from Singapore.
10:58 He's talking about Schaeffler India.
11:00 He's bought the stock at about 3,050 levels.
11:03 The stock is currently trading around above that price,
11:07 3,300 levels.
11:08 He wants to know if he should continue holding it.
11:10 Now in the last one year, it's only given about 21% returns.
11:14 Amit, for a short to medium term, how does it look?
11:17 Definitely, the momentum is low.
11:19 But if you look at the overall setup for the long-term scenario,
11:21 the counter has been continuously trading from last one and a half year
11:24 in the range of 2,800 to 3,200 mark.
11:28 But we are seeing that the volume is continuously getting added on.
11:31 So there will be a consolidation breakout in this counter.
11:33 It might take some more time towards the 3,450.
11:36 The breakout is a level.
11:37 Once the stock goes over 3,450 level, then there will be a fresh buying
11:41 initiated in the counter.
11:42 From there, we will see aggressive buying towards the 4,000 to 4,200 levels.
11:47 So you should hold the long positions as the counter is being
11:50 into consolidation.
11:51 Once the consolidation breakout comes over 3,450 level,
11:54 which is a level, we will definitely get a great opportunity
11:58 on the upside towards the 4,000 to 4,200 mark.
12:01 We've got Mohan writing in from Orissa, and he's asking about
12:05 South Indian Bank.
12:07 He's wondering whether to hold on.
12:11 He's bought at levels of 27.
12:12 He's got 2,500 shares.
12:15 So more or less where the current market price is going.
12:18 Any specific commentary on this particular counter?
12:21 If not, could you give us a view on the banking space,
12:24 which ones you like?
12:26 So first, let me give you our view on the entire banking and finance, Alex.
12:31 And we're quite optimistic and upbeat about the loans, advances,
12:35 deposits, CASA ratio number, and the loan book growth number
12:39 that we've heard just before the Q3 numbers, we saw Curtin Razor.
12:43 We do have a hold or buy recommendation on South Indian Bank.
12:49 The only problem in this trade or investment is, Alex,
12:52 that this gentleman has bought in at a little bit elevated level.
12:56 If you get debts, you can definitely continue to add on to it.
13:00 And we've seen a decent improvement in terms of earnings for South
13:04 Indian Bank, which was not the case some time back.
13:07 Okay. All right.
13:10 Next up, we have a question from Naresh Thakur.
13:13 He wants to know if there's more steam left in the realty sector.
13:17 We've seen great demand numbers and even the realty index has run up
13:21 quite a bit in the last couple of weeks.
13:23 And he's particularly talking about India Bulls Real Estate.
13:27 Should he buy into that?
13:29 Goranga Real Estate as a sector and India Bulls Real Estate?
13:34 You know, to be very honest, I think it's after being a very notorious sector
13:38 and a high beta sector, this real estate sector has got more discipline now
13:44 than earlier. And that is thanks to the various regulatory changes
13:49 and introduction of new regulation like Real Estate Regulation Act,
13:53 RERA as we call it. Sector is good. It is high beta.
13:57 So one needs to have an elevated risk appetite.
14:00 But the company that has been selected,
14:05 my humble request to all the viewers of NDAP Profit is that just don't look
14:09 at the price of the stock, which is cheaper in a particular sector and buy it.
14:15 Because that is not the criteria if you're looking at long-term investment idea.
14:19 As a disclosure on India Bulls Real Estate, we had a coverage.
14:22 We have dropped it because there are a lot of issues that concern
14:24 this particular company. And we did not think that it was appropriate
14:28 to continue with that coverage. Having said that, we like names
14:31 like Godrej Properties, DLF and Prestige Estates.
14:35 All right, specific view on a few of the stocks in the real estate space.
14:40 Short-term query on Bandhan Bank and this one is coming in from Pandian Subramanian
14:45 who is writing in from Madurai. This one is for you Amit.
14:48 Based on what you are seeing on the charts, what would you say for a short-term trade
14:53 or a short-term view on Bandhan Bank?
14:56 Look at the short-term scenario, the counter looks on the negative front
14:59 because continuously we are seeing the stock whenever it is gaining the opportunity
15:02 towards the 255-260 level, there is a supply being witnessed.
15:06 And currently right now also if you look at the setup,
15:09 counter is trading at 50 DMA level. Once if it goes below 225 mark,
15:13 then there will be again a short sell-off in the counter towards the 215-210 level.
15:18 So, it's for my recommendation, new long position not to be created at this point of time.
15:22 Short can be created once counter goes below 225 level.
15:26 Alright. Next up, we have a question from Vaibhav and he has written to us on YouTube.
15:32 He is talking about PNB. Now, Karang, I know you have spoken about the banking sector as a whole.
15:37 But specifically on Punjab National Bank, he has bought shares at a price of Rs. 75.
15:42 He wants to know if you should continue holding the stock for the longer term.
15:46 Yeah, so we have a hold recommendation on PNB.
15:51 And as I spoke about South Indian Bank in the earlier query,
15:56 the situation, earnings and outlook for some public sector banks have improved dramatically,
16:04 especially with PNB because PNB at one point of time had exposure to a lot of vulnerable sectors.
16:10 And one of the big cases which is known to in the public domain, I don't want to go into the specific name.
16:17 So, yes, from a 40-45 rupee stock, it has almost doubled now close to about 100.
16:22 We are maintaining a buy and hold and our sense is that PNB, State Bank of India,
16:28 Canara Bank, Bank of Goroda, Bank of India, these are some of the names wherein you are going to see
16:34 significant amount of improvement in the earnings as we go forward.
16:37 Okay, fair point. To the viewers that are asking questions, I hope you are tuning in.
16:43 We can't possibly give you the answers that are discussed on the show on chat
16:48 because we're talking to you live there as well. But we have to slip into a very quick break.
16:52 We'll take a few more questions on the other side. So do stay tuned.
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19:55 Welcome back. You're watching Ask Profit and this is where we get questions to all of your stock related
20:00 or rather all your stock related questions answered. And by the way, Mohan, if you're tuning in,
20:06 you missed the answer that Goran gave you on South Indian Bank.
20:10 He says that you might just have bought at a slightly elevated level, but he still has a buy rating
20:15 and therefore hold rating on South Indian Bank. And so Mohan has bought it very close to that level, 27.
20:22 The next question that I will take is from Mukund. Mukund is asking about a couple of counters that he bought at IPO stage.
20:29 He's bought Rainbow Hospitals and he's also got Tata Technologies. So understandably, not too much data for Amit to talk about.
20:37 But Goran, what was your specific view on the IPOs and should somebody take some money off the table right now?
20:44 Well, see, it depends. Firstly, honestly, Alex, on Tata Technologies, we had a subscriber recommendation from a long-term point of view.
20:53 500 floor and stock reached the highs of 1400, if I'm not mistaken, and somewhere trading close to about 1200 rupees right now as we speak.
21:02 It depends. If you only bought it from a short-term point of view, then I think you should act according to what your wisdom tells you to do.
21:11 But if you are not in a hurry and if you have time by your side and you can stay invested for a longer period of time,
21:17 I would advise him to stay invested in Tata Technologies. On Rainbow, unfortunately, Alex, I don't recollect whether we had an IPO note or not.
21:25 So I would refrain to comment on that. All right. Next up, we have a question from Rajiv from Mumbai.
21:32 He's bought 2000 shares of Aditya Birla Capital at 190. The current price is below that, around 178 levels.
21:41 He says that it has not been performing in the last one year. I think it has given about 20 percent returns, equal to the benchmark there.
21:50 Amit, how does it look for like a one-year term? Should they continue holding it? The stock hasn't done much in the last couple of months.
22:00 Yes. If you look at the capital, the momentum is quite slow. If you look at the setup also, running bottom formation has been witnessed in the counter above 182 only.
22:09 We might see some buying momentum will be continued in this counter. But till the time it's not going above that level,
22:15 at that point of time, we might see stock to be trading in the range bond session.
22:19 But if we want to convert into another stock, there is another counter which looks positive right now, which is Xiaomi Hotels.
22:25 Xiaomi Hotels looks positive. We have recommended this counter to our clients for New York peak also for 2024.
22:32 Overall, if you look at the setup for Xiaomi Hotels, both on the fundamental and technical ground,
22:37 the counter looks positive for the upside range towards 280 to 350 levels.
22:42 Fair point. This is a slightly… Okay, I'm going to try. Patel Engineering, Gorang, we've got a viewer, Raghuram Patro,
22:52 he's a student from Bhubaneswar and he's bought at levels of 55. He's got a long term view on this particular counter.
22:58 Stock is currently trading up about 2.3% in trade at 65 or thereabouts. Do you have anything specific that you can tell him?
23:05 Unfortunately, no, Alex. We don't have this. Fair point. So if you have a long term view, then on the charts, Amit,
23:12 and you look at the longer term charts, what can you tell him?
23:15 For trading perspective, the counter looks positive. The counter has given a flat pattern breakout and long term structure.
23:21 Overall setup, we expect the counter to stretch towards the 85 would be the first resistance zone.
23:26 Once if counter clears 85 levels, then we might see the counter going towards 115 to 110 levels.
23:32 So overall setup looks positive. Long position can be initiated at this point of time also.
23:36 And if he's holding a long position, the stock loss which needs to be maintained right now is 56.
23:41 Once the stock goes below 56 levels, then only longs need to be exited.
23:45 Overall setup looks positive on the upside towards 85 to 110 levels.
23:49 Alright. Next up we have a question from Santosh Pillai. Now this one's for you, Gaurang.
23:54 He is a newcomer and wants to invest for the longer term. He doesn't mention the sectors.
24:00 So from across the board, what stocks would you have picked for the longer term? Your favorite.
24:04 If I might just add a small point here, and Sruti, allow me to make this a little bit nuanced.
24:10 Because I think, Gaurang, a lot of our viewers may be tuning in for the first time and looking at these markets,
24:15 22,000 levels on the Nifty 50. Some might argue that the valuations are just a tad bit expensive.
24:23 And from that perspective, would you suggest a staggered approach?
24:26 And which ones, according to you, have not participated and could in fact be something that you can consider right now?
24:33 Absolutely, Alex. So, you know, discipline is one of the most important things that you should have in stock market.
24:39 Whether you are investing or whether you are booking profits, I think you need to be disciplined, first of all.
24:44 Welcome to the party. This party is going to stay for a long time as far as the Indian equity markets are concerned.
24:50 From a long-term point of view, we remain absolutely optimistic. And if you are a newcomer, well, a couple of words of advice.
24:58 First of all, stock markets are exposed to all kinds of risks, internally as well as externally.
25:05 You have to have elevated risk appetite in case if you decide to come and invest in stock market.
25:11 Don't listen to anybody and invest in the stock market just by any verbatim that you listen into.
25:19 Do a little bit of homework at your end in terms of little bit of study, understanding about which sector and company you are buying.
25:27 And don't go and buy cheap stocks with single digit, double digit valuation just because they are available at that price.
25:36 Buy quality, don't buy quantity. I beg your pardon. Buy quality, don't buy quantity.
25:42 Buy quality means buy small number of stocks of good companies rather than buying large number of stocks of a lesser-known company or a not-so-known company.
25:52 So if you have a part-part investment, Alex, of course, I agree with you. 22,000, we have not been there, we have not seen that. This is the first time.
26:00 And anybody would feel that high anxiety at these kind of levels. But over a period of time, longer period of time, I think there are miles to go before we can pause, you know, Alex, to be very honest.
26:10 Intermediate questions will come.
26:12 So point taken, but which stocks would you identify at these levels? Maybe four or five that he can take.
26:19 So I'll come to that. I'll give you five different sectors and if I could give you five different companies.
26:24 So from banking, HDFC Bank, post-merger, the balance sheet is very good. Amongst the diversified players, two names.
26:31 One is Reliance from the diversified business that they have. Second one is L&T from the Capgoods engineering.
26:37 So you have third name. Cement, we are extremely positive about the entire consumption theme.
26:42 So you have Ultratech cement or you can possibly go for Dalmia Bharat, which is a mid-cap name in the cement pack.
26:48 Fifth would be from the banking pack. I beg your pardon, from the IT pack. And over there, I would go for a mid-cap name, something like a KPIT Tech.
26:58 Thank you, Gaurang, for that. I hope Santosh, you have got your answer. Five stocks to look into for the longer term.
27:06 Next up, we have a question from Rajesh Maheshwari and he's talking about MRPL.
27:10 Now, Mangalore refinery, we have seen a good uptick in the last three, four days. It has hit, if I'm not wrong, upper circuit also in the last trading session.
27:19 It's up in about 8% right now as well. Amit, I'm going to come to you on this. What's the trajectory that you see from here on now?
27:28 If you look at the space of the sector, the counter, each and every counter has shown some buying momentum from last one week of trading session.
27:36 That too with the volume part. Now, the counter looks a bit on the higher zone because if you look at the overall setup,
27:44 the SPO is not at all favorable to create new long position. But whomsoever is holding a long position should place the trailing stock loss towards the 160 level.
27:52 Once the stock goes below 160 level, then only we might face some profit booking scenario.
27:57 But once again, if the counter goes upside towards the 180 level and it gets stable above 180 level,
28:03 then we might see again fresh buying to be initiated in this counter towards the 200 or 210 mark.
28:08 Okay, fair point. Gaurang, Amit, thank you so much for joining in and for giving us all the views that you did.
28:14 And viewers, hopefully, we have helped you somewhat even if your specific question has not been answered.
28:21 We'll be back tomorrow with more of the same. So do tune in at that point.
28:26 From Sruti and myself and the team that put the show together, thank you so much for watching.
28:30 Do stay tuned. This is NDTV Profit.
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