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EquityPandit

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MARKETS

Neuland Labs Share Jumps 44% in 3 Days on Strong Q4 Results

Neuland Laboratories is investing heavily in expanding the manufacturing capacity.

Shares of Neuland Laboratories surged 18% to hit an all-time high of Rs 3,040.25 in intraday trade on Monday. Shares of the pharmaceutical company have jumped 44% in the past three days after it reported strong March quarter results (Q4FY23), with profit after tax (PAT) more than doubling to Rs 84.5 crore.

It was quoted 15% higher at Rs 2,980 at 1:17 pm, while the S&P BSE Sensex gained 0.70%. Since February 2, 2023, shares of Neuland Labs have more than doubled or gained 116% from Rs 1,409.75 levels.

Meanwhile, total revenue rose 61.8% YoY to Rs 4,151 crore, led by growth in the speciality and custom manufacturing solutions (CMS) segment. Beyond that, the company reported an Ebitda margin of 30.8%, up 1,550 basis points year-over-year, thanks to a better business mix and operating leverage.

Neuland Laboratories is a pharmaceutical manufacturer serving active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing solutions to customers in 80 countries.

Management said the company delivered significant growth during the year, executing multiple CMS projects and contributing close to half its fourth-quarter revenue.

Moving forward, management expects this momentum to continue as new clients increasingly accept Neuland as an established CDMO.

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MARKETS

Ircon International Shares Soar 5% on Securing Contract From North Western Railway

Ali Waghbakriwala

Shares of Ircon International Ltd soared 5% on 15 April after the state-owned engineering and construction company secured an order worth Rs 127.80 crore from S&T (Construction) of the North Western Railway, Indian Railways.

As per the company’s filing, the project entails the design, manufacturing, supply, installation, testing, and commissioning of a microprocessor-based Electronic Interlocking (EI) system. The scope includes work at 20 stations within the Ajmer Division, incorporating automatic block signalling and related signalling and telecom systems.

The execution period for the project is set at 24 months from the date the Letter of Acceptance (LOA) is issued, the company informed stock exchanges.

On 28 March, through its joint venture with SSNR Projects, the company secured the LOA for this project valued at ₹872.69 crore, floated by Rail Vikas Nigam.

Earlier, on 17 March, the company, in partnership with Badri Rai and Company (BRC), was awarded an EPC contract worth ₹1,096.17 crore by the Directorate of Urban Affairs, Government of Meghalaya. Ircon’s share in the project stands at 26%, amounting to ₹285 crore.

Ircon International, a government-owned entity, specializes in comprehensive infrastructure construction services. Its key strengths lie in railway and highway construction, extra-high voltage (EHV) substations, and mass rapid transit (MRT) systems.

The company operates across various Indian states and internationally in countries like Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, the UK, Algeria, and Sri Lanka. According to its website, Ircon has completed over 300 infrastructure projects in India and more than 100 overseas.

At 12:54 pm, the shares of Ircon International were trading 4.68% higher at Rs 156.60 on NSE.

Wondering About Ircon International Ltd? The Analyst Has Answers.

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MARKETS

Tata Power Shares Surge 4% as Arm Signs a Rs 4,500 Crore Deal 

Ali Waghbakriwala

Shares of Tata Power Company Ltd surged 4% on 15 April after the company announced that its subsidiary, Tata Power Renewable Energy, signed a Power Purchase Agreement with NTPC for setting up a 200-megawatt (MW) firm and dispatchable renewable energy project.

In its regulatory filing, the company said, “We wish to inform you that Tata Power Renewable Energy Limited (‘TPREL’), a subsidiary of the company signs a power purchase agreement (‘PPA’) with NTPC Limited to set up a 200 MW firm and dispatchable renewable energy project.”

The Rs 4,500 crore project is slated for completion within 24 months and includes a critical commitment to provide a 4-hour peak power supply, ensuring at least 90% availability during peak demand periods to support the rising energy requirements of distribution companies.

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Reports indicate the project will generate around 1,300 million units (MUs) of electricity annually and help reduce over 1 million tonnes of carbon dioxide emissions each year. Tata Power Renewable Energy secured the project through a competitive bidding process, and it will feature a mix of solar, wind, and battery energy storage system (BESS) technologies.

With this addition, Tata Power Renewable Energy’s total renewable utility portfolio now stands at 10.9 GW, of which 5.5 GW is currently operational, comprising 4.5 GW of solar and 1 GW of wind energy. The remaining 5.4 GW is under development, equally split between 2.7 GW each of solar and wind projects.

These projects are set to be commissioned in phases over the next 6 to 24 months.

At 11:36 am, the shares of Tata Power were trading 3.91% higher at Rs 378.70 on NSE.

Curious About Tata Power Company Ltd? Ask the Analyst.

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MARKETS

Stocks in Focus: Zydus Lifesciences, Ashoka Buildcon, Ircon International, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading higher by 387 points at 23,305 indicating that the domestic benchmark indices are likely to make a positive start on Tuesday.

On Friday, 11 April, Domestic benchmark indices S&P BSE Sensex surged by 1,310 points or 1.77% and settled at 75,157.26 while the Nifty50 traded 1.92% higher by 429 points, settling at 22,828.55.

Here are some stocks that are likely to remain in focus on 15 April.

Quarterly Results Today: GM Breweries, Bombay Wire Ropes, Delta Industrial Resources, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Indian Renewable Energy Development Agency, Hathway Bhawani Cabletel & Datacom, Swastik Safe Deposit & Investments, and MRP Agro are some of the prominent companies set to announce their quarterly earnings for January-March. 

Zydus Lifesciences: The company has announced securing final approval from the US Food and Drug Administration (USFDA) to manufacture Jaythari (Deflazacort) tablets that are available in 6 mg, 18 mg, 30 mg, and 36 mg strengths. These tablets are used to treat Duchenne Muscular Dystrophy (DMD) in patients aged 5 years and older.

Ashoka Buildcon: The company has emerged as the lowest bidder (L1) for a project from Central Railway worth Rs 568.86 crore for the construction of major bridges, minor bridges, earthwork, P-Way work, RUBs, and other miscellaneous civil works in connection with the gauge conversion work from Pachora to Jamner. 

Ircon International: The company has announced securing an order worth Rs 127.8 crore from S&T (Construction), North Western Railway, and Indian Railways for designing, manufacturing, supplying, instaling, testing, and commissioning of a microprocessor-based EI system at 20 stations of the Ajmer Division.

Persistent Systems: The company has announced securing approval from the National Company Law Tribunal (NCLT), Mumbai for its proposed merger of Capiot Software, which is a subsidiary of the company into Persistent Systems. 

HCL Technologies: The company has announced the integration of NVIDIA AI Enterprise into its GenAI-powered service transformation platform, AI Force, and NVIDIA Omniverse into its physical AI solution, SmartTwin. These integrations are designed to accelerate enterprise AI adoption by simplifying software development processes and boosting engineering productivity.

Tata Power Company: The subsidiary of the company, Tata Power Renewable Energy, has announced a Power Purchase Agreement with NTPC to develop a 200 megawatt (MW) firm and dispatchable renewable energy project.

Macrotech Developers: The Lodha brothers — Abhishek Lodha and Abhinandan Lodha — have amicably settled all outstanding disputes between them and their respective companies, with the support and guidance of their parents. Macrotech Developers, led by Abhishek, retains ownership of the brand names Lodha and Lodha Group, while Abhinandan continues to own and operate under the brand name House of Abhinandan Lodha.

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MARKETS

Stocks Under F&O Ban: Birlasoft, National Aluminium, and Others

Ali Waghbakriwala

Under the futures and options (F&O) segment, four stocks were banned from trade on Tuesday, 15 April, by the National Stock Exchange (NSE). The securities banned for the F&O trade are Hindustan Copper, Manappuram Finance, National Aluminium, and Birlasoft. 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

National Aluminium, Manappuram Finance, Hindustan Copper and Birlasoft were retained on the list from Friday as the open interest as a percentage of the MWPL of its F&O contracts stood at 96.3%, 105.2%, 101.1%, and 85.8%, respectively. 

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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MARKETS

Aurionpro Solutions Shares Skyrocketed 15% on Acquiring Stake in Fintra Software

Ali Waghbakriwala

Shares of Aurionpro Solutions Ltd skyrocketed 15%, hitting an intraday high of Rs 1,582 on Friday, 11 April, after the company announced acquiring Fintra Software. 

The company agreed to acquire a 100% stake in Fintra Software Private to strengthen its next-generation trade finance solutions for global banks. The company has acquired all intellectual property rights and related assets from Fintra, aiming to strengthen its position in the Transaction Banking sector.

By integrating Fintra’s solutions, Aurionpro plans to offer a complete end-to-end platform for cash and trade management, further expanding its product suite and reinforcing its presence in the transaction banking space.

Aurionpro Solutions is a technology firm that develops software platforms tailored for Wholesale Banking, particularly in areas like Trade Finance, Supply Chain Finance, Escrow services, and Factoring solutions.

Ashish Rai, Global CEO of Aurionpro, commented, “This acquisition marks an important step for Aurionpro as we double down on our strategic focus to create the future of Trade Finance technology and significantly expand our functional coverage in Transaction Banking. We remain committed to staying ahead of the market in meeting the dynamic demands of our clients, ensuring their corporate clients receive best-in-class services.”

In its quarterly earnings for October-December, the company reported a 5.04% year-on-year (YoY) increase in net profit to Rs 47.34 crore compared to Rs 45.07 crore reported in the same quarter last year.

At 3:30 pm, the shares of Aurionpro Solutions closed 13.31% higher at Rs 1,552 on NSE.

Navigate Aurionpro Solutions Ltd Like a Pro. Ask the Analyst.

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