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#ONGC Almost Up From Given Levels 8% Dear
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Thursday, August 31, 2023
Wednesday, August 30, 2023
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Bharat Petroleum Corp (BPCL) on August 28 announced that in the next five years, it will spend around Rs 1.5 lakh crore (Rs 1.5 trillion) towards its transformative initiative, 'Project Aspire'.
As part of Project Aspire the state-owned oil marketing company (OMC) will grow its oil business and expand its renewable energy portfolio as it aims for a 2040 net-zero goal, Chairman and Managing Director G Krishnakumar said at its 70th annual general meeting.
"The company has set a planned capex outlay of around Rs 1.5 trillion in the next five years, which will enable BPCL to create long-term value for our stakeholders while preserving our planet for future generations," Krishnakumar said at the meeting.
Krishnakumar also said BPCL would invest Rs 1 trillion between now and 2040 for projects including green hydrogen, carbon capture, utilisation, and storage (CCUS) and on improving energy efficiency to cut emissions.
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Reliance Industries Ltd (RIL) has become India’s largest bio-energy producer based on the company’s indigenously developed technology, Chairman Mukesh Ambani recently said at the company’s annual general meeting (AGM).
In North India, stubble burning is a major cause of air pollution. During the onset of winter, farmers set agricultural waste on fire to get rid of it and prepare the fields for sowing again. This causes pollution levels to rise and the air quality index to reach severe levels.
Reliance has commissioned its first commercial-scale compressed bio-gas (CBG) plant at Barabanki in Uttar Pradesh in 10 months, Ambani had informed the AGM.
It had earlier set up two demo units for CBG at Jamnagar.
Reliance now plans to rapidly scale this up to 25 CBG plants across India.
Ambani said RIL targets to establish 100 compressed bio-gas (CBG) plants in the next five years, consuming 5.5 million tonnes of agro-residue and organic waste.
The company said the move would help in mitigating nearly 2 million tonnes of carbon emissions, and producing 2.5 million tonnes of organic manure annually. Reliance expects that this would also result in a reduction of about 0.7 MMTPA (million metric tonnes per annum) of imported LNG.
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SRF has a presence across fluorochemicals, specialty chemicals, packaging films, technical textiles, and coated and laminated fabrics. However, it is the company's fluorochemicals and specialty chemicals segments that are expected to emerge as the key drivers, fuelling its long-term growth.
Banking on the recent phase of high growth for the specialty chemicals space, SRF has reported revenue/EPS growth at 22 percent and 35 percent CAGR (Compounded Annual Growth Rate), respectively, in the last five years. But that's not all, the company has also been dedicated to a phase of rapid capacity expansion as it aims to present itself as an alternative to China within the specialty chemicals suppliers space.
The underlying aspect of SRF's strong growth prospects is its management's confidence. Despite the recent slowdown within the chemicals industry due to high-cost inventory destocking, the management has continued to stick to its capacity expansion plans, securing its future even if the present looks a bit bleak.
For context, projects worth about Rs 3,200 crore are expected to get capitalised in FY24. They include Rs 1,100 crore capex for fluorochemicals and Rs 1,400 crore for specialty chemicals.
With the exit or clamp down in production by several European players due to environmental restrictions in Europe, the company has also managed to fill the void and gain some market share within the global specialty chemicals market, especially in fluorine-related products.
Adding to that, brokerage firm Nirmal Bang Institutional Equities also highlighted that China's chemicals industry focuses mainly on bulk chemicals and lacks a player with a strong presence in the organic fluorospecialty space, whereas India has the relevant skill sets and could be a big beneficiary.
"US, EU and Japan are aggressively looking at India as the alternative supply destination to China and hence are also ready to pay the premium as Indian companies have better capabilities in the organic fluoro specialty business," the firm stated.
Moreover, considering that most domestic chemicals companies are investing heavily in expanding their capabilities in the backdrop of the large opportunity size, the firm believes that pure-play fluorine companies like SRF are preferred options when fluorination is the core chemistry in the molecule being developed by the customer.
Moreover, SRF is also making a full-fledged foray into Active Pharmaceutical Ingredients (APIs), set to materialise over the next two years, which will open more avenues of revenue generation.
Besides, the government is also pushing towards reducing India's reliance on Chinese imports for chemicals that can be made domestically. A likely production-linked incentive scheme might also be on the cards for the chemicals sector which will only add to the multiple growth boosters for SRF.
Sharekhan also sees SRF as a quality player and believes that its investment in the specialty chemicals space provides strong long-term earnings growth prospects.
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Tuesday, August 29, 2023
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All Levels Rocked Given By Me.. Check My Previous All Twits .. Rollover Completed, If Not Then Finish This Work On Immediate Basis... Hold Tightly With Patience.. Bola Tha Na Aise Aise Technical Bhida Kar Market Down Kar Rahe Hain Jaise Baap Re...Monday, August 28, 2023
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India is poised for its lowest monsoon rains in eight years, with the El Niño weather pattern seen crimping September precipitation after an August that is on track to be the driest in over a century, two weather department officials told Reuters on Monday.
The summer rainfall deficit could make essentials such as sugar, pulses, rice and vegetables more expensive and lift overall food inflation, which jumped in July to the highest since January 2020.
The monsoon, vital for India's $3 trillion economy, delivers nearly 70% of the rain the country needs to water crops and refill reservoirs and aquifers. Nearly half of the farmland in the world's most populous nation lacks irrigation.
"El Niño dampened rainfall in August, and it will also have a negative impact on September rainfall," said a senior official at the India Meteorological Department (IMD). They declined to be identified since they were not authorised to brief the media.
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Friday, August 25, 2023
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All the sectoral indices ended in the red with capital goods, FMCG, PSU Bank, metal, realty, power down 1 percent each.
Benchmark indices ended lower on August 25 with Nifty around 19,250 amid selling across the sectors.
At close, the Sensex was down 365.83 points or 0.56 percent at 64,886.51, and the Nifty was down 120.90 points or 0.62 percent at 19,265.80. About 1446 shares advanced, 2079 shares declined, and 110 shares unchanged.
Bajaj Finserv, Asian Paints, Bajaj Finance, ONGC and Bharti Airtel are among the top gainers on the Nifty, while losers are Dr Reddy's Laboratories, Adani Ports, JSW Steel, Power Grid and Larsen and Toubro are among the major losers on the Nifty.
All the sectoral indices ended in the red with capital goods, FMCG, PSU Bank, metal, realty, power down 1 percent each.
BSE Midcap index down nearly 1 percent and Smallcap index down 0.2 percent.
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Founded by Kaivalya Vohra (L) and Aadit Palicha (R) in 2021, Zepto has raised around $560 million and is valued at $1.4 billion.
Zepto, a quick-commerce startup, raised $200 million at a valuation of $1.4 billion, ending India's 11-month unicorn drought.
The Series E round was led by the StepStone Group, a US asset management firm, and included Goodwater Capital and some existing investors. Zepto’s valuation jumped from $900 million in May 2022.
The funding is of particular importance because Zepto is the first unicorn, or startup valued at over $1 billion, to be minted in India this year. Molbio Diagnostics was the last to achieve unicorn status in September 2022.
At the height of the funding boom in 2021, the country added a unicorn almost every week. As many as 44 startups entered the
unicorn club in 2021 and 23 were added last year. Since then, investors tightened their purse strings and have been cherry-picking the startups they’re backing, reflecting their prudent stance.
Of the $200 million that Zepto has raised, $105 million came from the StepStone Group ($75 million) and Goodwater Capital ($30 million), both new investors in the Mumbai-based company. While this marks StepStone’s first direct investment in the country, Goodwater Capital has invested in audio-streaming startup Pocket FM and edtech companies Teachmint and Yellowclass.
Zepto got the remaining $95 million from existing investors Nexus Venture Partners, Glade Brook Capital and Lachy Groom. Barring Nexus, Zepto hasn’t actively raised money from India-centric VCs, but that may change over the years, co-founder Aadit Palicha told Moneycontrol in an interview.
“The investors we got onboard are high-quality, detail-oriented ones who have seen multiple cycles. Most investors have not seen a through and through cycle like this in India when it comes to technology investing and as a result they are a lot more conservative,” Palicha said. “They are a lot less willing to invest in a bear market versus some larger institutional investors, like StepStone, which have been investing for decades. They've got the capability to take high-quality contrarian bets in this (bear) market.”
StepStone, which manages $140 billion of assets, is a limited partner in Lachy Groom, Nexus VP, Goodwater Capital and other funds who are already investors in Zepto.
“Both StepStone and Goodwater Capital have invested in operationally intensive retail businesses before… we didn't find people that specialise in this category in India. That being said, we are very excited to go deeper with India-centric investors. Going forward, Zepto is going to see a lot more India-centric investors,” he added.
The startup also revealed that its monthly cash burn had reduced to Rs 55 crore in April from Rs 90 crore in September 2022. While Palicha did not reveal specific numbers, he said the cash burn was on a downward trajectory.
With its EBITDA margin narrowing to a negative 15-16 percent in April from a negative 278.6 percent in January 2022, Zepto aims to turn EBITDA-positive in 12 months and is eyeing an initial public offering during the first half of 2025.
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Thursday, August 24, 2023
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Investors with short position on Nvidia lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed, as the world's largest chipmaker's shares surged after a strong revenue forecast.
Bearish bets on the chip designer, which is the biggest beneficiary of AI boom, have cost investors $11.36 billion in paper losses so far this year, neck-to-neck with Tesla as the worst-performing short bet, S3 Partners said.
Nvidia shares rose 7.4% to $506.30 before the opening bell.
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Wednesday, August 23, 2023
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