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By EquityPandit

ADANIPORTSMARKET OUTLOOKSTOCK OUTLOOK

Adani Port Outlook for the Week (May 27, 2024 – May 31, 2024)

Adani Port
Adani Port
Adani Port closed the previous week on a negative note losing 7.99%.

Technically, Adani Port share price will see immediate support at 1,349.80 and immediate resistance would be seen at 1,465.60.

If Adani Port share price closes below immediate support of 1,349.80, then sharp breakdown can be seen. Adani Port share price will see major support at 1,283.50 for the week.

1450.001450.001400.001400.001350.001350.001300.001300.001250.001250.001200.001200.00Apr 10Apr 10Apr 16Apr 16Apr 22Apr 22Apr 25Apr 25Apr 30Apr 30May 6May 6May 9May 9May 14May 14May 17May 17May 22May 22Reversal Level 1369.65BuyBuy

On the positive side, immediate resistance will be seen at 1,465.60. Closing above 1,465.60, Adani Port share price will see a sharp breakout. Major resistance for Adani Port share price will be seen at 1,515.10 for the week.

Trading range for Adani Port share price for this week should be between 1,234.00 on down side and 1,581.40 on up side.

Adani Port Previous Week High: 1448.8

Adani Port Previous Week Low: 1333

Adani Port Previous Week Range: 115.8 Points

Adani Port share price support and resistance for the week (May 27, 2024 – May 31, 2024)

Level Type Value
Resistance 3 1,581.40
Resistance 2 1,515.10
Resistance 1 1,465.60
Support 1 1,349.80
Support 2 1,283.50
Support 3 1,234.00
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BUSINESS

Maharashtra State Government Inks MoU’s Worth Rs 6.25 Lakh Crore with Indian Companies

Ali Waghbakriwala

Chief Minister Devendra Fadnavis on Wednesday 22 January announced that the state of Maharashtra had signed 31 Memorandums of Understanding (MoUs) with Indian companies for investments totaling over Rs 6.25 lakh crore in Davos, Switzerland, in the automotive, steel, defense, EV, renewables, and electronics sectors.

Some companies that have agreements with the state government include the Tata Group, Ceat, Essar Renewables, Bharat Forge, Welspun Corp, Reliance Infra, and Olectra Greentech.

The Tata Group intends to invest up to Rs 30,000 crore in the state, Powerin Urjaa signed an MOU for investments up to Rs 15,300 crore in the renewable energy industry, UPL aims to invest a total of Rs 6,500 crore, and Essar Renewables has signed an MOU for about Rs 8,000 crore. Olectra Greentech is to look for funding opportunities for EV-related projects worth up to Rs 3,000 crore.

Chief Minister Fadnavis described the state as the “powerhouse of Indian economy” and claimed that foreign investors understood the pitch, in addition to its historically robust manufacturing base. With 60% of the country’s capacity, the state is quickly becoming known as the “data center capital of India.”

For the New Mumbai region, CM Fadnavis told Network 18 that four more data centers are being constructed at a cost of Rs 75,000 crore.

According to Fadnavis, the ‘growing bullishness’ of foreign investors toward India is a result of states maintaining healthy competition to attract foreign investment, which is advantageous for the country’s overall development.I

n the first six months of FY25, Maharashtra attracted more foreign investment than Karnataka, Gujarat, Delhi, and Tamil Nadu combined, CM Fadnavis had said earlier in January. The foreign investment in the first six months totalled up to Rs 1.13 lakh crore, which was 31% of the total inflow between April to September.

A report by Wealth 360 had last year said that the state has emerged as the largest investment destination in terms of startup investment in FY24.

Despite Maharashtra’s $500 billion economy, which is the largest of any Indian state, a recent World Bank evaluation found that only seven of the state’s 36 districts contribute more than half of its GDP.

The goal is for the state’s GDP to reach $1 trillion by 2028-30.

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BUSINESS

Hatsun Agro Products Secures Board’s Approval to Acquire Milk Mantra Dairy

Ali Waghbakriwala

The FMCH major engaged in the business of dairy manufacturing, processing and marketing of ice creams, milk and milk products, Hatsun Agro Products Ltd (HAP), on Tuesday, 21 January, announced receiving approval to acquire a 100% stake in Milk Mantra Dairy Pvt Ltd. 

In its regulatory filing, the company said that the Board of Directors has approved acquiring a 100% stake in Milk Mantra Dairy for a total consideration of Rs 233 crore in an all-cash transaction. 

The acquisition aligns with HAP’s strategic goal of expanding into new geographical regions, providing access to markets in North Andhra Pradesh and potential areas like West Bengal and neighbouring states.

With over 50 years of expertise, Hatsun Agro Product Limited has cemented its position as the largest private player in the dairy sector. The company is also targeting exports to smaller nations, such as Brunei and Seychelles, to ensure smoother market entry. Its promoter holding remains strong and stable at 73.17%.

HAP’s portfolio features well-known brands like Arun Icecreams, Arokya, Hatsun, HAP Daily, IBACO, Havia Chocolate, Hanover Chocolates, and more.

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BUSINESS

RBL Bank Announced its Q3 Earnings

Ali Waghbakriwala

On 18 January, RBL Bank announced an 86% year-on-year decline in net profit to Rs 32.63 crore for the third quarter of FY25, representing an 85% sequential decrease.

Asset Quality Metrics:

  • Gross NPA Ratio: 2.92% as of 31 December 2024 (vs. 2.88% on 30 September 2024 and 3.12% on 31 December 2023).
  • Net NPA Ratio: 0.53% as of 31 December 2024 (vs. 0.79% on 30 September 2024 and 0.80% on 31 December 2023).
  • Gross NPA: Rs 2,701 crore as of 31 December 2024 (vs. Rs 2,581.08 crore on 30 September 2024 and Rs 2,551.05 crore on 31 December 2023).
  • Net NPA: Rs 481.64 crore as of 31 December 2024 (vs. Rs 697.51 crore on 30 September 2024 and Rs 635.64 crore on 31 December 2023).

Deposits and Advances:

  • Total Deposits: Rs 1.07 lakh crore (up 15% YoY); CASA deposits grew 12% YoY to Rs 35,022 crore, with a CASA ratio of 32.8%.
  • Granular Deposits (less than Rs 3 crore): Rs 53,719 crore (up 20% YoY and 3% QoQ), contributing 50.3% of total deposits.
  • Net Advances: Rs 90,412 crore (up 13% YoY).
  • Retail Advances: Rs 55,199 crore (up 19% YoY); Retail-to-wholesale advances ratio stood at 61:39.

Segment-Wise Growth:

  • Housing loans: 33% YoY increase.
  • Rural vehicle finance: 30% YoY increase.
  • Commercial banking: 21% YoY increase.

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BUSINESS

Ashapura Minechem Inks an MoU China Railway

Ali Waghbakriwala

Ashapura Minechem Ltd has announced that its abroad subsidiary has entered into a long-term Memorandum of Understanding (MOU) with China Railway, which is a Fortune 500 company for developing a Fako bauxite deposit project in Guinea in West Africa.

In its regulatory filing, the company said, “We wish to inform you that the company’s overseas subsidiary has entered into a long-term Memorandum of Understanding (MOU) with China Railway, a global Fortune 500 company, to jointly develop its Fako bauxite deposit in the Kindia region of Guinea.”

As a part of the deal, the company will be responsible for the sales and marketing department, while China Railway will handle the production of bauxite and provide logistical solutions. 

The company added, “In terms of MOU, China Railway will be responsible for production of Bauxite and provide logistic solutions while Ashapura will be totally responsible for sales and marketing and providing technical support including quality assurance for the project.”

The company is aiming to transform one of Guinea’s most underdeveloped regions by creating job opportunities and increasing production capabilities to drive growth. 

Filing added, “The above mentioned project may be set to transform one of Guinea’s most underdeveloped regions by creating job opportunities. It will also boost the company’s production capacity while driving economic growth and improving the lives of local communities in the Fako region.”

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BUSINESS

GMR Airports Achieved Record Passenger Traffic of 1.08 Crore in December 2024

Ali Waghbakriwala

GMR Airports Ltd announced on Friday, 17 January, that it recorded its highest-ever monthly passenger traffic in December 2024, handling 1.08 crore passengers, marking a 9% increase year-on-year (YoY) and a 6% rise month-on-month.

Aircraft movements also grew, reaching 64,364 for the month, up 7% YoY and 5% month-on-month. For the fiscal year-to-date (FY25), GMR Airports surpassed 88.8 million passengers and 0.55 million aircraft movements, setting all-time records in both categories.

Delhi Airport Highlights:

In December, Delhi Airport handled over 7 million passengers, its highest monthly traffic to date, reflecting a 6.7% year-on-year growth. Domestic passenger traffic rose to 5.1 million (+7.1% YoY), while international passenger numbers reached 1.9 million (+5.5% YoY). Additionally, Delhi Airport managed record cargo volumes of 0.83 million metric tonnes in YTD FY25, a 13.8% increase YoY.

Hyderabad Airport Highlights:

Hyderabad Airport experienced its busiest month ever, handling 2.7 million passengers in December, a 20.1% year-on-year increase. Domestic traffic surged to 2.3 million (+23.2% YoY), while international passenger traffic climbed to 0.43 million (+6.1% YoY). On 22 December, 2024, the airport set a single-day record with 92,000 passengers.

Mopa (Goa) Airport Highlights:

Mopa Airport handled 0.42 million passengers in December and 3.4 million passengers in YTD FY25. International passenger traffic saw an extraordinary 227.5% year-on-year surge, driven by the start of international operations in July 2023.

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