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KRBL Aims For Double-Digit Ebitda Margin In FY26
- KRBL Ltd. aims to achieve high Ebitda margin like in Q4 FY25, targeting 16.2% compared to 14.1% a year prior.
- The company expects better export numbers in FY26, especially in the branded rice segment.
- KRBL projects a 'neutral to positive' outlook for exports in FY26, focusing on both branded and bulk export business segments.
- Historically split between domestic and export sales, recent challenges have skewed KRBL's revenue mix towards the domestic market.
- The company aims to restore the 50-50 balance between domestic and export sales, focusing on strengthening distribution networks like in Saudi Arabia.
- KRBL leverages India's dominant position as a basmati producer to enhance its market presence.
- The company's inventory strategy involves using aged rice to offer a superior product with pricing flexibility.
- KRBL is diversifying into healthy edible oils, launching a range leveraging its India Gate brand and production capabilities.
- The edible oil business could contribute significantly to revenue within two to three years, with a positive market response.
- The CFO, Ashish Jain, highlighted the company's goal to achieve a double-digit Ebitda margin in FY26.
- Jain mentioned that the performance of branded rice exports has been strong in recent quarters and years.
- The geopolitical situation, including the Israel-Iran conflict, could impact bulk rice exports for KRBL.
- The company is addressing distribution issues in Saudi Arabia to enhance its market share.
- KRBL's inventory strategy capitalizes on the seasonality of rice production in India, focusing on aged rice as a premium product.
- The company's foray into edible oils is progressing well, with early signs indicating a positive market potential.
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Zee Entertainment Promoter To Infuse Over Rs 2,000 Crore — First Positive In Nearly 18 Months
- Zee Entertainment Enterprises Ltd.'s board approved plans to raise funds via fully convertible warrants to promoters, raising Rs 2,237 crore in total.
- The issuance of 16,95,03,400 fully convertible warrants at Rs 132 per warrant will increase the promoter shareholding to 18.39%.
- This investment follows the failed Zee-Sony merger and is aimed at fortifying Zee's financial foundation, core business, and exploring new growth opportunities.
- The infusion will help mitigate potential liabilities, including the ICC rights dispute, and compete with rivals like RIL-Disney.
- Zee's cash balance is currently at Rs 2,400 crore, with the funds being disbursed partially immediately and the rest over 18 months.
- The move may lead to an EPS dilution of 15-16% with plans previously approved to raise Rs 2,000 crore via Foreign Currency Convertible Bonds.
- Zee stock has shown mixed performance with a 7.56% return in the past month while analysts indicate a 6.2% return potential with varying recommendations.
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Citi Hikes Target Price For Infosys, TCS, Wipro And Other IT Companies — Check Upside
- Citi has revised target prices for various IT companies following a positive outlook and sector re-rating.
- The Nifty IT has shown strong performance recently, reflecting investor confidence and market positivity.
- Major IT companies like Oracle, Persistent Systems, Tech Mahindra, Mphasis, and LTIMindtree have seen significant gains.
- Specific target price revisions include Indegene Ltd., Mphasis Ltd., L&T Technology Services Ltd., LTIMindtree Ltd., Tech Mahindra Ltd., HCL Technologies Ltd., TCS Ltd., Wipro Ltd., Infosys Ltd., Persistent Systems Ltd., and Coforge Ltd.
- Citi maintained 'sell', 'neutral', or 'buy' recommendations for the mentioned companies despite target price adjustments.
- The recent sector re-rating led to the upward revision of target prices, reflecting improved operational parameters and market conditions.
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Rupee Opens Flat Against US Dollar As Israel-Iran Reach Impasse
- The rupee opened flat against the US dollar at 86.07, with expectations to trade between 85.75 and 86.30 for the day.
- Brent oil prices rose to $74.04 per barrel due to US president's warning on Israel-Iran conflict, causing concerns about supply disruptions.
- Conflicting reports on Iran seeking a ceasefire and soft economic data from China also influenced oil prices.
- The dollar index reached 98.21, with the Euro at 1.1553 and GBP at 1.3566.
- Bank of Japan expected to maintain policy rates, potentially slowing bond purchases next year amid economic uncertainties.
- Rupee touched 85.75 on Monday but fell to 86.12 after Trump's comments on Tehran evacuation.
- If rupee surpasses 86.20, importers might face challenges as dollar could rise to 86.70.
- Reserve Bank of India selling dollars above 86.20 has stabilized the rupee.
- Oil prices are crucial for the rupee due to foreign investments and companies buying dollars for outflows.
- Tuesday's trading range depends on conflict progression and RBI's actions in the market.
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Between Bouncers And Brick Walls: Why AGS Staff Want To Quit, But Can’t | Profit Exclusive
- AGS Transact Technologies Ltd. is facing financial difficulties with unpaid salaries and invoices, affecting employees across India and leading to non-functional ATMs.
- Despite the financial crisis, there have been few resignations as the HR team has stopped processing resignations and issuing relieving letters.
- An executive vice president with pending dues of Rs 86 lakh has not received a response from the company's management even after sending a legal notice.
- AGS Transact's non-permanent employees, managed through a staffing solutions provider, have not been paid for over seven months, causing significant financial distress.
- The company faces personnel shortages and is unable to publish financial results on time, prompting discussions with lenders for loan restructuring and stake sales.
- AGS employees have come together to seek resolution for their dues, with some permanent employees also facing issues with provident fund contributions.
- Despite challenges, AGS Chairman Ravi Goyal assures employees that the company is not shutting down and is working on solutions.
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NHAI Brake On Awarding Projects Dampens Outlook For Major Road Players
- The National Highways Authority of India has slowed down awarding projects over the last two years impacting major road construction companies' order book growth.
- Road awards remained tepid for a second year in a row in FY25 according to Nuvama Research, causing concerns about revenue visibility in the sector.
- Listed developers' market share in NHAI awards dropped from 61% over FY16–18 to 24% by the end of FY25, as per Nuvama report.
- Key concerns in the road sector include government halting project awards under the Bharatmala project, leading to sluggishness in road awarding.
- Muted road capex budget in Union Budget 2025 and increased competition causing tenders below expected rates are impacting road players' margin profiles.
- Outlook ahead includes signs of recovery in order awarding from the fourth quarter onwards, with a FY26 highway construction target set at 10,000 km.
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ED Probes Betting App Endorsements; Harbhajan, Yuvraj, Suresh Raina, Sonu Sood, Questioned — Profit Exclusive
- The Enforcement Directorate (ED) is investigating illegal online betting platforms and their endorsements by celebrities like Harbhajan Singh, Yuvraj Singh, Suresh Raina, Sonu Sood, and Urvashi Rautela.
- These platforms are accused of violating Indian laws by promoting themselves as skill-based games but operating on luck-based outcomes, using rigged algorithms.
- Preliminary findings suggest that the endorsements may breach multiple Indian laws, including the IT Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, and others.
- Some celebrities have been issued notices, and more are likely to follow.
- The ED investigation has uncovered over Rs 50 crore paid to media outlets for surrogate advertising.
- Officials found that these platforms have gained visibility through partnerships with celebrities and influencers, despite government bans.
- The illegal online betting market in India is estimated to be over $100 billion, with tax evasion amounting to Rs 27,000 crore annually.
- Around 22 crore Indian users are believed to use these apps, with 11 crore being regular participants.
- The ED also highlighted the social impact, linking over 1,000 suicides to online betting losses, affecting students, homemakers, daily wage earners, and unemployed youth.
- Investigations revealed schoolchildren skipping classes and college students using tuition money to gamble, leading to family financial crises.
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HSBC Forecasts $30-40 Billion Annual Boost In Non-Essential Purchases, Discretionary Consumption To Increase
- HSBC Global Research forecasts a $30-40 billion annual boost in discretionary consumption in India over the next 18-24 months.
- Factors driving this surge include tax cuts in FY26, the implementation of the 8th Pay Commission in FY27, lower interest rates, and inflation.
- Reduced personal tax rates from FY26 are expected to save taxpayers $12 billion, while the 8th Pay Commission could result in an additional income of $18-26 billion.
- Lower interest rates may save $3-4 billion on mortgage payments, with potential additional savings from lower inflation.
- HSBC is optimistic about medium-term prospects despite a lack of significant triggers in the near term (6-9 months).
- The fourth quarter earnings performance in India was better than feared, with 61% of the top 500 companies beating EPS estimates.
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Carney Says Canada And US Aiming For Trade Deal Within 30 Days
- Canada and the US are aiming for a trade deal within 30 days, according to Prime Minister Mark Carney.
- Despite policy differences, President Donald Trump stated that a trade deal was achievable in the coming weeks.
- The leaders discussed tariffs, with Trump preferring a simple approach while Carney proposed limitations on levies for Canadian industries like steel and aluminum.
- Trump and Carney had a positive meeting discussing critical minerals, border security, and defense cooperation.
- If no agreement is reached, Carney threatens retaliation, having avoided escalating counter-tariffs on US goods previously.
- Trump also discussed potentially including China in economic talks and expressed regret over Russia's exclusion from the G-7.
- The ongoing talks involve trade rules for steel and aluminum, with potential ramifications for significant Canadian exports.
- In recent negotiations, Trump suggested imposing tariffs if suitable deals are not reached with trading partners.
- An agreement was reached between Trump and UK Prime Minister Starmer to lower US tariffs and increase UK quotas on select agricultural products.
- Carney's office stated that talks with the US are expected to accelerate despite the challenges faced by world leaders regarding tariffs and global conflicts.
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Bloomberg Quint
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Gold Price Drops, Silver At All Time High Amid Israel-Iran Conflict— Check Prices In Mumbai, Chennai And More
- Gold prices dipped on Tuesday to Rs 99,960 per 10 grams from the previous high of Rs 100,480 per 10 grams amidst the Israel-Iran conflict.
- Major metro cities like New Delhi, Mumbai, Kolkata, Bengaluru, and Chennai experienced a decline in gold prices.
- In New Delhi, gold was priced at Rs 99,610 per 10 grams on Tuesday.
- In the United States, gold was trading higher at $3,420 per ounce.
- Silver reached an all-time high of Rs 1,07,210 per kg on Tuesday, up from Rs 1,06,920 per kg on Monday.
- July 4 futures for silver recorded a 0.01% advance to Rs 1,06,570 per kg.
- Silver was trading at $36.24 in the United States on June 16.
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Stock Recommendations Today: Tata Motors, BSE, Devyani International On Brokerages' Radar
- Top companies like Tata Motors, BSE, and Devyani International are on brokerages' radar with various analyst calls highlighted.
- Morgan Stanley forecasts a gradual earnings turnaround for Tata Motors, with potential earnings downgrades in FY26.
- HSBC's India strategy predicts a significant boost in discretionary consumption over the next 18-24 months due to various factors like tax cuts and lower interest rates.
- JPMorgan maintains an Overweight rating for Devyani International, with a target price of Rs 190, expecting growth in KFC stores.
- Citi initiates a Buy rating for Max Life with a target price of Rs 1,840, emphasizing its market share potential and diversified strategy.
- CLSA notes a positive price increase trend in the cement industry and forecasts volume and profit pool expansion driven by Ebitda growth.
- Jefferies recommends a Buy for Navin Fluorine with a target price of Rs 5,280, citing growth prospects from new contracts.
- Goldman Sachs maintains a Neutral view on BSE but raises the target price, citing key catalysts like options trading volume.
- Jefferies cuts the target price for Tata Motors to Rs 600, recognizing challenges in the India CV demand and JLR businesses.
- Nomura offers varied ratings for City Gas Distribution companies like MGL (Upgrade to Buy), IGL (Maintain Neutral), and Gujarat Gas (Maintain Reduce) based on near-term challenges and growth prospects.
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Market Experts' LIVE Stock Recommendations: Buy Varun Beverage, Sell Tata Motors, Hold Cipla
- Market experts provide live stock recommendations: Buy Varun Beverage, Sell Tata Motors, Hold Cipla.
- Investors may take interest in pharmaceutical stocks due to fear of increased geopolitical tension.
- Oil refining companies are in focus as oil prices rebound amid Israel-Iran tensions.
- Hensex Securities suggests exiting Tata Motors due to limited upside potential in the short and long term.
- Globe Capital advises holding Cipla, noting its stable performance with potential to move towards Rs 1,650.
- Hensex Securities recommends buying Varun Beverages for long-term prospects, suggesting gradual accumulation over time.
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Trump To Abruptly Depart G-7 After Calling For Tehran Evacuation
- President Donald Trump is set to abruptly depart the G-7 summit in Canada after calling for the evacuation of Tehran, following his urging for Iran to sign a nuclear deal and Israel signaling continued strikes.
- Trump's departure was attributed to matters in the Middle East, with uncertainty around potential Israeli attacks on Tehran and the US's next steps upon his return to Washington.
- Market reactions were observed after Trump's messages, with US equities slightly down and oil prices fluctuating.
- Israeli forces claim control over Iranian airspace and damage to missile and nuclear facilities, sparking concerns of broader conflict escalation.
- Iran signals willingness to de-escalate if the US refrains from joining Israeli attacks, leading to fluctuations in oil prices and market reactions.
- The conflict intensifies with ongoing missile attacks and counter-threats between Iran and Israel, raising fears of a regional conflict and disrupting vital trade routes.
- Since the conflict escalated, casualties have been reported in both Iran and Israel, with no sign of immediate resolution in the volatile situation.
- Aiming to end the conflict, Israel eyes dismantling Iran's missile and nuclear programs, emphasizing the need for Iran to meet terms required a while back.
- Israeli PM hints at targeting Iran's Supreme Leader and urges US support in ending Iran's nuclear efforts.
- Speculations persist on the conflict's impact on the Middle East, highlighting the risk of wider human loss, trade disruptions, and energy flow interference.
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Mutual Fund Investments: How To Save For Your Dream Wedding Via SIP? A Simple Guide
- Investing in mutual funds can help you save for your dream wedding by offering flexibility, goal-oriented plans, and attractive returns.
- Start by estimating your total wedding cost and investment timeframe to choose appropriate mutual fund options.
- Mutual funds pool money from investors and are managed by experts to invest in various assets like stocks, bonds, or gold.
- For short-term goals (<2 years), consider debt or liquid funds for lower risk; for mid-term goals (2-5 years), opt for hybrid funds; for long-term goals (>5 years), equity funds may offer higher returns.
- For regular savings, use a SIP (Systematic Investment Plan); for lump sum amounts, opt for long-term investments.
- Diversify your portfolio by investing in a mix of funds to spread risk and maximize returns.
- Regularly review your investments every 6-12 months and adjust based on performance and risk levels.
- With proper planning and discipline, even small monthly investments in mutual funds can help you build a substantial wedding fund.
- Plan early, choose the right funds, monitor progress, and be prepared with a sufficient corpus fund for your wedding day.
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EPF vs PPF: Eligibility, Tax Benefits, Maturity And Other Key Details
- EPF (Employee Provident Fund) and PPF (Public Provident Fund) are popular long-term investment options for retirement savings in India.
- Both schemes are government-backed and offer safe and attractive returns, designed for retirement savings.
- EPF is for salaried employees managed by EPFO, while PPF is open to all Indian citizens and managed by the Government of India.
- Eligibility: Salaried employees in organisations with 20+ employees are eligible for EPF. PPF is open to all Indian citizens, including minors.
- Tax Benefits: Both EPF and PPF fall under the EEE category, offering tax deductions up to Rs 1.5 lakh/year under Section 80C of the Income Tax Act.
- EPF interest is tax-free after five years; PPF interest is tax-free throughout the tenure.
- Maturity: EPF lasts until retirement, while PPF has a 15-year maturity period, extendable in blocks of five years each.
- Contribution: EPF involves a 12% contribution from employees and employers, while PPF allows deposits between Rs 500 and Rs 1.5 lakh/year.
- Both EPF and PPF are valuable for financial security, catering to different needs based on eligibility and maturity.
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