IEM Market Buzz – 11/03/2024 – No.

95

These are not recommendations/ suggestions to buy or sell. Strictly for

educational purpose the Indian Economy & Market Research Team has
collected these details from the public domain for our subscribers as
these couldn’t be a part of our regular monthly magazine.

Visit our website www.indianeconomyandmarket.com or join our

Telegram Channel to read information about some good fundamentally
strong stocks.
Himachal Futuristic Communications Ltd. was discussed
here on December 24 when it was trading at Rs 82. The
stock made a high of Rs 118 after that and still trading at Rs
103. It is one of the largest private sector Indian telecom
companies, a leading manufacturer of optical fibre cables
and communication solutions. It specializes in creating
digital networks for telcos, enterprises and governments.
Recently HFCL introduced its 5G Fixed Wireless Access
Customer Premise Equipment that bridges broadband gaps,
providing fiber-like connectivity to unserved areas. Quant
Mutual Fund holds 4.02 per cent and Reliance Industries,
through its two subsidiaries holds a 4.99 per cent stake in
HFCL. The company has been receiving regular orders and
has a formidable order book. It could be good after a little
more correction.

Urban Enviro Waste Management Ltd. was discussed here

on November 11 when it was trading at Rs 300. Later stock
went up to Rs 541 and now trading at Rs 340. The company
is into Waste Management Solutions which comprises
waste collection, transportation, segregation & disposal.
The NSE SME EMERGE listed company’s IPO at Rs 100, was
oversubscribed 255.49 times and listed at a premium of 41
per cent. The company has posted Steller H1FY24 numbers
as its PAT stood at Rs 400.09 lakhs compared to Rs 30.39
lakhs in H1FY23, an increase of 13.16 times YOY and an
increase of 2.16 times sequentially whereas Revenue stood
at Rs 4645.98 lakhs compared to Rs 1516.96 lakhs in
H1FY23, an increase of 206.27 per cent YOY and an increase
of 94 per cent sequentially. With its presence in a unique
business and strong working cycle it is continuously
attracting attention of big investors and looking good after
this correction.
Exide Industries Ltd. was discussed here on August 21. It is a
valuable company since there is just one other listed
company from this sector i.e. Amar Raja Batteries. Besides
being a big supplier of batteries to the automobiles sector,
the company also caters to the needs of many defence,
pharma, railways and infra companies. Sometime back it
sold its Insurance business to HDFC Life and used that fund
to start a subsidiary Exide Energy Pvt. Ltd. which is a new
entrant in Lithium batteries manufacturing for EVs. On TTM
basis the company has posted sales of Rs 16,274 crore,
operating profit of Rs 1741 crore and net profit of Rs 878
crore. All these are its highes ever numbers. In a recent
development NCLT in an order has sanctioned the scheme of
Amalgamation between its two wholly owned subsidiary
companies Exide Energy Solution and Exide Energy Pvt. Ltd.
which again is a good move. Its all time high is Rs 354, now
after recording far better performance it is available at Rs
320. Someone who wants to ride auto sector boom and
replacement market condition can keep an eye on this
counter.

JSW Steel Ltd. has received a good kick after a broking house
in its report on metal sector gave it an overweight marking.
The way metal sector is coming back into fancy and Dollor
Index is getting weaker, the sector is surely on a high spot
being the biggest beneficiary of this. Domestic demand too
has been continuously increasing and based more on
domestic supply JSW Steel has immense opportunities.
During December quarter it has performed well as its
operating profit was up 60 per cent and net profit was up by
417 per cent. The stock, right now, is trading at just 18PE and
looking at the sector’s growing demand and its financials the
stock could easily enter a four figure club.
HEG Ltd. is a leading graphite electrode manufacturer and has
one of the largest integrated Graphite Electrode plants in the
world at a single site, processing sophisticated Ultra High
Power Electrodes. The company exports over 70 per cent of
its production to more than 30 countries of the world. The
stock has been attracting investor’s attention lately, basically
due to the heavy demand in metal sector as a whole. To ride
the sectoral benefit of metal sector the stock cannot be
ignored.

Concorde Biotech Ltd. is an Ahmedabad based biotechnology

company. The company manufactures fermentation based
biopharmaceutical active pharmaceutical ingredients sold
worldwide. The company came out with its IPO in August
2023 at Rs 741 and now trading at Rs 1530. In this company
late Rakesh Jhunjhunwala’s family holds a major chunk, a
24.09 per cent stake, DIIs hold 8.40 per cent whereas FIIs hold
7 per cent stake. Since listing the stock has been continuously
making a one way upward run and getting investors attention.
It could be a good grab but only after a significant correction.

ITC Ltd. was a star stock during 2022 and 2023. In 2022 the
stock went up to Rs 360 from Rs 215 and in 2023 made a high
of Rs 500 also. However now it is trading at Rs 410. ITC Ltd. is
an Indian conglomerate company which has a diversified
presence across industries such as FMCG, hotels, software,
packaging, paperboards, specialty papers and agribusiness.
The company has 13 businesses in 5 segments and exports its
products in 90 countries. The hotel business has already got
approval for demergr and some other businesses are already
in line to demerge. With a 3 per cent dividend yield the stock
right now is trading 20 per cent below its all time high. So
downside is almost negligible and limited.
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