Avenue Supermarts (DMART IN)
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Strategy – Alternate View
Strategy – Alternate view ICICI Securities Limited is the author and distributor of this report New-age stocks poised for entry into NIFTY50 but could miss entry in Sep’21 reshuffle; Cyclicals also improve free float market cap rank! Research Analysts: Vinod Karki [email protected] +91 22 6637 7586 Siddharth Gupta, CFA [email protected] +91 22 2277 7607 Alternate view is a differentiated approach of analysing stocks and markets which combines the discipline of our proprietary fundamental quantitative frameworks with the judgement of bottom‐up research for generating investment ideas Please refer to important disclosures at the end of this report ` Equity Research July 23, 2021 INDIA CNX Nifty: 15824 Strategy ICICI Securities Limited is the author and distributor of this report New-age stocks poised for entry into NIFTY50 but could miss entry in Sep’21 reshuffle; Cyclicals also improve Alternate View: Nifty50 reshuffle free float market cap rank! Based on data till 19th Jul’21, the upcoming semi-annual NIFTY50 reshuffle could result in Info-edge being the closest contender to replace IOCL on 29th Sep’21. However, Info-edge is marginally behind in terms of average free float market capitalisation criteria (US$ 5bn and 3.7% lower than 1.5x that of IOCL – the smallest free float market cap stock within the current NIFTY50 index) while fulfilling other conditions such as inclusion in the F&O list and being part of the upcoming proforma NSE100 universe amongst others (full list of criteria is given below). New-age economy stocks with >100x P/E ratio poised to enter the NIFTY50 index: Info edge will be the first pure play internet platform company to be included in the NIFTY50 index as and when it qualifies. -
Market Outlook
November 4, 2019 Derivatives Thematic Report – • PRODUCT 1 Stocks likely to be included in F&O… • PRODUCT 2 Retail Equity Research Equity Retail – Research Analysts Dipesh Dedhia Amit Gupta Securities ICICI [email protected] [email protected] Raj Deepak Singh Nandish Patel [email protected] [email protected] Eligibility criteria of stocks for inclusion in F&O segment The eligibility of a stock for inclusion in the derivatives segment is based on the criteria laid down by Sebi through various circulars issued from time to time. Based on Sebi guidelines, the following criteria has been adopted by the exchange for selecting stocks on which futures & options (F&O) contracts would be introduced. Futures & options contracts may be introduced on new securities, which meet the below mentioned eligibility criteria, subject to approval by Sebi. Thematic Report Thematic 1) The stock shall be chosen from among the top 500 stocks in terms of average daily market capitalisation and average daily traded value in the previous six months on a rolling basis 2) The stock's median quarter-sigma order size over the last six months shall not be less than | 25 lakh. For this purpose, a stock's quarter-sigma order size shall mean the order size (in value terms) required to cause a change in the stock price equal to one-quarter of a standard deviation 3) The market wide position limit in the stock shall not be less than | 500 crore on a rolling basis. The market wide position limit (number of shares) shall be valued taking the closing price of stocks in the underlying cash market on the date of expiry of contract in the month. -
Of 21 Voya Emerging Markets Index Portfolio Portfolio Holdings As of August 31, 2021 (Unaudited)
Voya Emerging Markets Index Portfolio Portfolio Holdings as of August 31, 2021 (Unaudited) Ticker Security Name Crncy Country Price Quantity Market Value VNET 21Vianet Group, Inc. USD China 19.79 8,311 $164,475 QFIN 360 DigiTech, Inc. USD China 22.80 8,162 $186,094 601360 360 Security Technology, Inc. - A Shares CNY China 1.84 29,600 $54,506 1530 3SBio, Inc. HKD China 1.11 111,500 $124,214 JOBS 51job, Inc. USD China 76.80 2,743 $210,662 3319 A-Living Smart City Services Co. Ltd. HKD China 3.97 54,250 $215,608 2018 AAC Technologies Holdings, Inc. HKD China 5.54 72,500 $401,916 AOTHAI Abdullah Al Othaim Markets Co. SAR Saudi Arabia 30.74 4,275 $131,424 M AEV Aboitiz Equity Ventures, Inc. PHP Philippines 0.86 180,620 $155,767 ABG Absa Group Ltd. ZAR South Africa 10.83 70,934 $768,205 ADCB Abu Dhabi Commercial Bank PJSC AED United Arab Emirates 2.04 280,089 $572,661 ADIB Abu Dhabi Islamic Bank PJSC AED United Arab Emirates 1.54 99,971 $153,456 ADNOC Abu Dhabi National Oil Co. for Distribution PJSC AED United Arab Emirates 1.23 199,367 $245,264 DIS ACC ACC Ltd. INR India 33.00 7,090 $233,946 2345 Accton Technology Corp. TWD Taiwan 10.13 50,000 $506,568 2353 Acer, Inc. TWD Taiwan 0.91 286,462 $259,982 ADE Adani Enterprises Ltd. INR India 21.72 26,370 $572,781 ADANIG Adani Green Energy Ltd. INR India 14.60 38,606 $563,753 R ADSEZ Adani Ports & Special Economic Zone, Ltd. -
D-Mart's Radhakishan Damani Buys 8.8-Acre Mixed Use Plot from CCI for Rs 500 Cr - the Economic Times
1/2/2020 D-Mart's Radhakishan Damani buys 8.8-acre mixed use plot from CCI for Rs 500 cr - The Economic Times SECTIONS ET APPS ENGLISH E-PAPER ET PRIME CLAIM YOUR TIMESPOINTS FOLLOW US SIGN-IN Property / C'struction LATEST NEWS Have proposed rules to centre for CAA, says Sarbananda Sonowal Home Industry Auto Banking/Finance Cons. Products Energy Ind'l Goods/Svs Healthcare/Biotech Services More Advertising Consultancy / Audit Education Hotels / Restaurants Property / C'struction Retail Travel Business News › Industry › Services › Property / C'struction › D-Mart's Radhakishan Damani buys 8.8-acre mixed use plot from CCI for Rs 500 cr Search for News, Stock Quotes & NAV's Benchmarks NSE Loser-Large Cap Stock Analysis, IPO, Mutual Funds, Bonds & More Sensex LIVE Eicher Motors 41,524.54 218.52 21,640.00 -435.80 Market Watch D-Mart's Radhakishan Damani buys 8.8-acre mixed use plot from CCI for Rs 500 cr The land is part of 22 acres owned by Cable Corporation of India, which had mortgaged the entire plot to Indiabulls Housing Finance for a residential-led mixed-use project. The funds remaining after payment to Indiabulls Housing Finance will be used to complete the proposed project, sources said. By Kailash Babar, ET Bureau | Jan 01, 2020, 08.34 AM IST Save 0 Comments Agencies MUMBAI: D-Mart founder Radhakishan Damani has bought an 8.8-acre parcel close to Sanjay Gandhi National Park from CCI Related Most Read Most Shared Projects for over Rs 500 crore, two people Radhakishan Damani picks stake in this smallcap aware of the development said. -
Avenue Supermarts (DMART IN)
INSTITUTIONAL EQUITY RESEARCH Avenue Supermarts (DMART IN) Solid execution + best store economics = Premium valuations INDIA | RETAIL | INITIATING COVERAGE 30 April 2021 Avenue Supermarts, which owns and operates the DMart chain of supermarket stores, is the BUY only retailer in India to grow consistently and profitably. Our positive view on this company CMP RS 2890 stems from industry-leading asset turnover, high throughput due to its core offering of ‘Every Day Low Price’ driving high customer footfalls, and conversion and loyalty. Best-in-class store TARGET RS 3320 (+15%) economics, aggressive store expansion, right product mix, and low inventory days give it an COMPANY DATA edge over competitors. We believe that the company’s premium valuations factor in a big O/S SHARES (MN) : 648 opportunity for the organised groceries market, a strong moat, and execution excellence. MARKET CAP (RSBN) : 1930 Based on these dynamics, we initiate coverage with a DCF-based target of Rs 3,320. BUY. MARKET CAP (USDBN) : 26 Slow and steady approach towards online: We believe DMart’s strategy of slowly expanding in 52 - WK HI/LO (RS) : 3330 / 1954 LIQUIDITY 3M (USDMN) : 3.9 bigger cities would be fruitful, as the online grocery category remains at low-single-digits as a PAR VALUE (RS) : 10 percentage of the overall grocery market. Our analysis of competition suggests that DMart Ready (DMart’s online market) is present in only 9% of the cities where DMart offline stores exist. SHARE HOLDING PATTERN, % However, its online presence already covers 45% of the population where its offline stores are Mar 21 Dec 20 Sep 20 present. -
Electrification Work in Kitchen & Dining Hall/2018/RIS/ES-235
Dated: 19 Dec, 2018 Corrigendum In NIQ document NIQ No. 47/01/ Electrification work in Kitchen & Dining hall/2018/RIS/ES-235 Name of work: - Internal Electrification work in kitchen & dining hall behind VIP Guest House at AIIMS Rishikesh. The last date of submission of bids has been extended till 26/12/2018 due to unavoidable circumstances. A new page of list of approval make be added in NIQ at page no. 12 attached. Er R. S. Bist Executive Engineer AIIMS Rishikesh Corrigendum will be part of NIQ document /47/01/ Electrification work in Kitchen & Dining hall/2018/RIS/ES-235 LIST OF APPROVAL MAKE S. No. Item Name of Manufacturers 1. FRLS PVC insulated copper conductor single core cable Nicco/Finolex /R.R Kable/ Havells for wiring. (ISI marked) 2 Modular switch, socket/Telephone socket/cable TV Legrand-(Arteor)/ M.K.(Blenze)/ Crabtree/Anchor Woods socket/Data outlet Socket/Fan Regulator/Metal Boxes/ Occupancy sensor/Bell 3 MCB, MCBDB, RCBO’s/RCCB’s/DBs/industrial socket Schneider Electric/Legrand/L&T Hagger Siemens/ABB 4 MCCB/Timer Schneider Electric/ Siemens/Larsen & Toubro/ Legrand/L&T Multiline/ Havells/ABB 5 SFU, FSU, HRC Fuses, cable management system/DLP Schneider Electric/ Siemens/ Legrand/ L&T/ Havells/C&S Trunking 6 Fresh Air Fan/Wall Mounted Fan/Ceiling fan/Exhaust Crompton/Khaitan/Usha/Bajaj/Havells/wipro fan. (Only energy efficient fans, consuming ≤ 50 W and CMM ≥ 200 for 1200 mm & 60 W and CMM ≥ 240 for 1400 mm shall be used). 7 Fluorescent/CFL/LED/Flood/Bulk head Fitting Phillps/GE/Wipro/Crompton/C&S/Havells/Bajaj 8 Lamps GE/Osram/Phillips/Wipro/C&S/Crompton/Havells/Bajaj 9 Wall Brackets DECON/Phillips/GE/Havells/Crompton/Bajaj 10 Angle Holder/Batten Holder (ISI marked) Emperor/Anchor/Cona 11 Geyser Racold/Crompton/Jaguar./AO Smith/Havells 12 NRV/Gate Valve Sant/Leader/BIR 13 XLPE inslulated PVC sheathed aluminium cable upto Polycab/Finolex//Nicco/KEI/RR Kabel/Havells 1.1 KV .Grade 14 PVC conduit and accessories Precision/Asian/Diamond/Mod./AKG/JPC Pipes/CAP 15 Insect Catcher Machine Bajaj/ Phillips/Avro 12 . -
Inspired by Nature ENTICER ART
Inspired by Nature ENTICER ART LIST PRICE w.e.f. 20th February 2021 “Not for circulation to customers.” All Fans shall come under the HSN code 8414 w.e.f. 20th February 2021 Price (in `) Energy Saving Models LP in Rs. Per Unit Model Colour Star Rating 1200 mm No. of Unit/s in one outer pack 2 N Efficiencia (BLDC 32 W) Metallic White / Beige - Dust Resistant BLDC ` 7145.00 Enticer (BLDC 35 W) Pearl White / Champagne BLDC ` 6000.00 Efficiencia Neo (BLDC 26 W) Brown / Ivory / Elegant White BLDC ` 3695.00 Fusion - 2 50 HS Slate Chrome / Pearl Ivory-Gold ` 3870.00 ES-40 White / Brown / Bianco ` 3485.00 ES-50 White / Brown / Bianco ` 3010.00 ES Neo ( 2 STAR) - (Net billing model) White / Brown / Bianco ` 2560.00 No. of Unit/s in one Energy Saving Models - Institutional Models Colour 1200 mm 1400 mm outer Pack Velocity ES-50 ISI Mark White / Brown / Ivory 3 N - ` 3325.00 ES PLUS 2 STAR ISI Mark White / Brown / Bianco 2 N ` 2645.00 - Brown / Ivory / Elegant Efficiencia Neo (BLDC 26 W) White BLDC ` 4055.00 BLDC = Brushless Direct Current Net Pricing Models LP in Rs. Per Unit Model Colour & Rating (Variant in Sweep) 600 mm / 900 mm 1320 mm 1400 mm 1050 mm / 1200 mm Fusion Prime Pearl White / Matte Black/ Indigo Blue ` 3395.00 - Pearl White Silver / Pearl Ivory Gold / Silver Blue / Fusion Expresso Brown / Beige Brown ` 3395.00 - ` 3595.00 Pearl Copper Gold / Ocean Blue Silver / Pearl Festiva White Silver / Pearl Ivory/Mist/Espresso Brown / ` 3325.00 - - Gold Mist /Mauve Espresso Brown* / Indigo Blue* / Pearl White* / Andria ` 3160.00 - ` 3380.00 Maroon* / Quartz Mauve / Rose Gold / Pearl White / Maroon / Sam Met Matt. -
Schedule of Investments (Unaudited) Blackrock Advantage Emerging Markets Fund January 31, 2021 (Percentages Shown Are Based on Net Assets)
Schedule of Investments (unaudited) BlackRock Advantage Emerging Markets Fund January 31, 2021 (Percentages shown are based on Net Assets) Security Shares Value Security Shares Value Common Stocks China (continued) China Life Insurance Co. Ltd., Class H .................. 221,000 $ 469,352 Argentina — 0.0% China Longyuan Power Group Corp. Ltd., Class H ....... 52,000 76,119 (a) 313 $ 60,096 Globant SA .......................................... China Mengniu Dairy Co. Ltd.(a) ......................... 15,000 89,204 Brazil — 4.9% China Merchants Bank Co. Ltd., Class H ................ 36,000 275,683 Ambev SA ............................................. 236,473 653,052 China Overseas Land & Investment Ltd.................. 66,500 151,059 Ambev SA, ADR ....................................... 94,305 263,111 China Pacific Insurance Group Co. Ltd., Class H......... 22,000 90,613 B2W Cia Digital(a) ...................................... 20,949 315,188 China Railway Group Ltd., Class A ...................... 168,800 138,225 B3 SA - Brasil Bolsa Balcao............................. 33,643 367,703 China Resources Gas Group Ltd. ....................... 30,000 149,433 Banco do Brasil SA..................................... 15,200 94,066 China Resources Land Ltd. ............................. 34,000 134,543 BRF SA(a).............................................. 22,103 85,723 China Resources Pharmaceutical Group Ltd.(b) .......... 119,500 62,753 BRF SA, ADR(a) ........................................ 54,210 213,045 China Vanke Co. Ltd., Class A .......................... 67,300 289,157 Cia de Saneamento de Minas Gerais-COPASA .......... 52,947 150,091 China Vanke Co. Ltd., Class H .......................... 47,600 170,306 Duratex SA ............................................ 19,771 71,801 CITIC Ltd............................................... 239,000 186,055 Embraer SA(a).......................................... 56,573 90,887 Contemporary Amperex Technology Co. Ltd., Class A .... 1,700 92,204 Gerdau SA, ADR ...................................... -
India Internet a Closer Look Into the Future We Expect the India Internet TAM to Grow to US$177 Bn by FY25 (Excl
EQUITY RESEARCH | July 27, 2020 | 10:48PM IST India Internet A Closer Look Into the Future We expect the India internet TAM to grow to US$177 bn by FY25 (excl. payments), 3x its current size, with our broader segmental analysis driving the FY20-25E CAGR higher to 24%, vs 20% previously. We see market share likely to shift in favour of Reliance Industries (c.25% by For the exclusive use of [email protected] FY25E), in part due to Facebook’s traffic dominance; we believe this partnership has the right building blocks to create a WeChat-like ‘Super App’. However, we do not view India internet as a winner-takes-all market, and highlight 12 Buy names from our global coverage which we see benefiting most from growth in India internet; we would also closely watch the private space for the emergence of competitive business models. Manish Adukia, CFA Heather Bellini, CFA Piyush Mubayi Nikhil Bhandari Vinit Joshi +91 22 6616-9049 +1 212 357-7710 +852 2978-1677 +65 6889-2867 +91 22 6616-9158 [email protected] [email protected] [email protected] [email protected] [email protected] 85e9115b1cb54911824c3a94390f6cbd Goldman Sachs India SPL Goldman Sachs & Co. LLC Goldman Sachs (Asia) L.L.C. Goldman Sachs (Singapore) Pte Goldman Sachs India SPL Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. -
Dr. Ashok Ajmera's Column Ajmera's Column Ajmera's
Dr. Ashok Ajmera (FCA), CMD & CEO DrDrDr.Dr . Ashok Ajmera’s column as on Oct. 1919,, 2019 Domestic equities bounceback strongly; Reliance Industries Q2FY20 results above street expectations.. On a weekly basis, the S&P BSE Sensex rose 3.07 percent while the Nifty added 3.15 percent compared to 2.7 percent gain seen in the Small-cap index, and 4.6 percent rally witnessed in the Mid-cap index, for the week ended October 18, 2019. Small & mid-cap stocks witnessed continued buying as more than 60 stocks in the S&P BSE index rose 10-50 percent in the same period. India's retail inflation in September grew 3.99 percent against 3.21 percent in August 2019, while India's August Index of Industrial Production (IIP) stood at -1.1 percent versus 4.6 percent, month-on-month (MoM). Recently, the International Monetary Fund (IMF) and the World Bank, trimmed India’s gross domestic product (GDP) growth prospects by a whopping 0.9 percent and 1.5 percent respectively. Sectors and stocks Shares of Reliance Industries (RIL), Hindustan Unilever (HUL), Bajaj Finance and Nestle India from the Nifty 50 index hit their respective all-time high on the National Stock Exchange (NSE) in intra-day deal on Friday. Avenue Supermarts, which runs the DMart chain of stores, Adani Green Energy, Berger Paints, Blue Star, Indraprastha Gas, Manappuram Finance, SBI Life Insurance, Siemens and Whirlpool of India among total 16 stocks from the Nifty 500 index that also reached their record high in intra-day trade on Friday. -
Havells India (HAVL IN) Havells Indi A
India Industrials 3 November 2016 Havells India (HAVL IN) Havells Indi a Target price: INR450.00 Share price (3 Nov): INR394.35 | Up/downside: +14.1% Initiation: turning into a compounding story Saurabh Mehta (91) 22 6622 1009 We like the Havells’ growth story despite rich-looking valuations [email protected] Sustainable competitive edge: strong brand, extensive distribution Ajay Devnani (91) 22 6622 1015 Initiating with an Outperform (2) rating and TP of INR450 [email protected] Investment case: India's leading electrical consumer goods player. Share price performance We initiate on Havells with an Outperform (2) rating. We believe its strong (INR) (%) brand and well-entrenched distribution network would ensure growth ahead 455 175 of the market. While industry growth has slowed over the past 3 years, the 391 154 company has maintained its business momentum with steady market-share 328 133 264 111 expansion and a 4pp rise in gross margin. The outlook is also favourable – 200 90 we forecast a 16% revenue CAGR and 1pp EBITDA margin gain to drive a Nov-15 Feb-16 May-16 Aug-16 Nov-16 21.9% net-profit CAGR over FY16-19E. Good asset turns and negative Havells (LHS) Relative to SENSEX Index (RHS) working capital should also underpin healthy returns. 12-month range 241.70-451.05 Sustainable competitive advantage. Havells has increased its presence Market cap (USDbn) 3.68 in India’s consumer electrical market by successfully entering new markets 3m avg daily turnover (USDm) 9.23 Shares outstanding (m) 625 and gaining significant market share, without competing with peers on Major shareholder Promoter Group (61.6%) pricing by selling everyday electrical goods (switches, circuit breakers, wires) as branded high quality products. -
List of Nodal Officer
List of Nodal Officer Designa S.No tion of Phone (With Company Name EMAIL_ID_COMPANY FIRST_NAME MIDDLE_NAME LAST_NAME Line I Line II CITY PIN Code EMAIL_ID . Nodal STD/ISD) Officer 1 VIPUL LIMITED [email protected] PUNIT BERIWALA DIRT Vipul TechSquare, Golf Course Road, Sector-43, Gurgaon 122009 01244065500 [email protected] 2 ORIENT PAPER AND INDUSTRIES LTD. [email protected] RAM PRASAD DUTTA CSEC BIRLA BUILDING, 9TH FLOOR, 9/1, R. N. MUKHERJEE ROAD KOLKATA 700001 03340823700 [email protected] COAL INDIA LIMITED, Coal Bhawan, AF-III, 3rd Floor CORE-2,Action Area-1A, 3 COAL INDIA LTD GOVT OF INDIA UNDERTAKING [email protected] MAHADEVAN VISWANATHAN CSEC Rajarhat, Kolkata 700156 03323246526 [email protected] PREMISES NO-04-MAR New Town, MULTI COMMODITY EXCHANGE OF INDIA Exchange Square, Suren Road, 4 [email protected] AJAY PURI CSEC Multi Commodity Exchange of India Limited Mumbai 400093 0226718888 [email protected] LIMITED Chakala, Andheri (East), 5 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 6 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 7 NECTAR LIFE SCIENCES LIMITED [email protected] SUKRITI SAINI CSEC NECTAR LIFESCIENCES LIMITED SCO 38-39, SECTOR 9-D CHANDIGARH 160009 01723047759 [email protected] 8 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 9 SMIFS CAPITAL MARKETS LTD.