HSIL, after receiving necessary approvals from NCLT-Kolkata bench for its proposed restructuring/demerger, started to trade separately today.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 2.5 points or 0.02 percent. Nifty futures were trading around 11,921-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a loss of 38 points or 0.32 percent. Nifty futures were trading around 11,839-level on the Singaporean Exchange.
The sectoral outlook for FY19 looks positive as revival in new construction activity (post the implementation of RERA) is expected to spur the demand for building products
The company recently announced demerger of consumer products distribution and marketing businesses into a new entity called Somany Home Innovation (SHIL).
“We believe, that the investor in the age bracket of 35-40 years should allocate at least 70-75 percent of his portfolio into equities/MFs, 20-25% in fixed income and the balance should be in cash,” Sandeep Chordia, Executive Vice-President - Strategy, Kotak Securities told Moneycontrol.
The company spent Rs 160 crore for setting up the facility and aims to add an income of Rs 800 crore from the plumbing pipes segment to the firm's over all turnover in the next five years, HSIL's vice chairman and managing director Sandip Somany told reporters here.
As many as 159 stocks rose to fresh 52-weeks high on the BSE which include names like SRF, Jubilant FoodWorks, RIL, TVS Motors, ZEE Entertainment, Bajaj Electricals, Sadbhav Engineering, V-Guard, TV18 Broadcast etc. among others.
The undertakings being demerged are focused on servicing end-consumers in the market and are involved in branding, marketing, sales, distribution, trading, service etc, the company said.
"With the projects that we already have in the pipeline plus we are putting up two new plants, with those plants getting commissioned, I think we should be closer to Rs 5,500 to 6,000 crore in revenue in five years' time," HSIL Vice Chairman and MD Sandip told PTI here.
According to Ashwani Gujral of ashwanigujral.com, one can buy Radico Khaitan, HSIL and Raymond.
Ashwani Gujral of ashwanigujral.com advises buying Vedanta, HSIL and Brigade Enterprises.
Mitessh Thakkar of mitsshthakkar.com advises selling Sell Bajaj Auto and Andhra Bank.
Ashwani Gujral of ashwanigujral.com advises buying HSIL, Repco Home Finance and suggests selling Bharat Financial and Bank of India.
Kunal Saraogi of Equityrush is of the view that one may buy Motherson Sumi Systems with a target of Rs 490.
Ruchit Jain of Angel Broking is of the view that one may buy Ajanta Pharma with a target of Rs 1745.
There is a huge opportunity for stock pickers and smart entrepreneurs for the next two years but at the same time investors should remain conservative and be choosy.
The company has kitchen appliances, water-heaters, water and air purifiers and air cooler products under the consumer division, which is on course to clock a business of about Rs 150 crore in the current fiscal, a 140 percent growth compared to the previous financial year, he said.
Arihant Capital is bullish on HSIL has recommended buy rating on the stock with a target price of Rs 340 in its research report dated February 07, 2017.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - Sun TV, Glenmark Pharma, Granules India, HSIL, Godfrey Phillips and KEI Industries.
It had posted a standalone net profit of Rs 39.92 crore in the October-December quarter a year-ago, HSIL said in a BSE filing.