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June 12, 2025

June 12, 2025

  • NIFTY OUTLOOK: CMP 25103.2
  • Dear Friends,
  •  As discussed yesterday, market behaviour followed expected lines. Nifty respected its bullish momentum, successfully crossed 25070, and made an intraday high before settling at 25103.2.
  •  A small bearish candle on the daily chart indicates waning buying pressure and signals possible profit booking. If this continues, support may emerge around 25040–24976. A break below this zone may drag Nifty to 24913–24850.
  •  However, near-term sentiment remains positive. If Nifty crosses 25170, it may rally up to 25230–25293. Further strength could push it to 25356.
  •  BANK NIFTY OUTLOOK
  •  Spot: 56839.6 | PCR: 1.00 | Max CE OI: 56000 | Max PE OI: 56000
  •  On 9th June 2025, Bank Nifty closed at 56839.6, up 0.46%. The index moved 256.80 points, making a high of 57049.50 and a low of 56792.70.
  •  Technical View (Daily Chart):
  •  Resistance at 57300 and support at 56200. A breakout above 57300 may lead to 57900, while a breach of 56200 may take it down to 55800.
  •  RSI is at 69.30 (above 70 is overbought, below 30 oversold).
  •  SMA Analysis:
  •  Bank Nifty is trading above all 8 SMAs (5, 10, 20, 30, 50, 100, 150, 200-day).
  •  No candlestick pattern identified.
  •  Note:
  •  US-China trade talks resume today, focusing on export controls, especially rare earths. The discussions are crucial as China’s exports to the US plunged 34.5% in May—the steepest drop since February 2020.
  •  Investors are watching closely, hoping for a breakthrough to ease global supply chain disruptions and improve economic sentiment.
  •  Oil prices edged higher as traders await the outcome of these talks, anticipating a positive shift that may boost global demand.
  •  Meanwhile, tensions continue between the US and Iran over nuclear deal terms, with disagreement over uranium enrichment being a key sticking point.
  •  Contributed by
  •  Ashok bhandari : INH000019549
  •  ————————————-xxxxxxx——————————————————————-xxxxxxx———————————
  •  BEAT THE STREET BULLETIN
  •  Date: 10-June-2025
  •  Telegram: \[t.me/beatthestreet10]
  •  —
  •  NEW PROJECTS / EXPANSIONS
  •  *AAYUSH WELLNESS*: To set up wholly owned subsidiary in Singapore for ASEAN expansion; initial investment SGD 10,000.
  •  *JUPITER WAGONS*: Jupiter Electric Mobility opens 1st e-LCV showroom in Bengaluru; launches 1.05-ton JEM TEZ, begins pan-India rollout. Pithampur plant operational; ties with Porter, Pulse Energy for EV ecosystem.
  •  *TATA POWER*: TP Solar crosses 4 GW solar module milestone at Tamil Nadu unit; targets 3.7 GW cell & 3.725 GW module output in FY26.
  •  —
  •  STAKE CHANGES / SHARE TRANSACTIONS
  •  *APOLLO PIPES*: Raises stake in Kisan Mouldings from 57.59% to 58.60% via ₹4.95 Cr secondary equity purchase.
  •  *NYKAA*: Hikes stake in Earth Rhythm to 75.83% with ₹5 Cr second tranche on June 9; strengthens clean beauty portfolio.
  •  *MAHINDRA*: Raises stake in MMFSL to 52.49% via ₹1,652 Cr rights issue allotment at ₹194/share.
  •  *WIPRO*: Azim Premji Trust sells 20.23 Cr shares worth ₹5,057 Cr via block deal. Buyers: Hasham & Prazim Traders (Premji family arms).
  •  —
  •  FUNDRAISING / QIP
  •  *CAPRI GLOBAL*: Launches QIP at ₹153.93 floor price; plans to raise up to ₹2,000 Cr incl. ₹500 Cr upsize option. Indicative price ₹146.5/share.
  •  —
  •  REGULATORY / LEGAL / TAX
  •  *NUVOCO VISTAS*: Gets ₹16.66 Cr entry tax demand from Chhattisgarh for FY03–06; to challenge as arbitrary & outdated.
  •  —
  •  M\&A / STRUCTURAL CHANGES
  •  *WPIL*: Completes 55% acquisition of South Africa’s PCI Africa via WPIL SA; expands in African water infra market.
  •  *ANTONY WASTE*: NCLT approves merger of 100% subsidiary AG Enviro; no share dilution, structure simplification.
  •  —
  •  LEADERSHIP CHANGES
  •  *OBEROI REALTY*: CEO – Commercial Real Estate resigns effective June 9.
  •  *ACME SOLAR*: Group CHRO Ravi Parmeshwar resigns; Gopalji Mehrotra appointed effective June 9.
  •  —
  •  BANKING / LICENSING
  •  *JANA SMALL FINANCE BANK*: Applies to RBI for universal bank license on June 9, 2025; aligns with RBI guidelines.
  •  —
  •  BOARD MEETINGS / CORPORATE ACTIONS
  •  *ORCHID PHARMA*: Sets June 19 record date for shareholder vote on Dhanuka Labs merger; vote scheduled June 26.
  •  *QUESS CORP*: Demerged units Digitide & Bluspring to list on June 11; part of strategic restructuring.
  •  —
  •  DEFENCE / GOVERNMENT ORDERS
  •  *BEL & BDL*: Indian Army to receive ₹30,000 Cr QRSAM air defence missile systems under revised acquisition plan.
  •  —
  •  STAY UPDATED WITH BEAT THE STREET
  •  Join our Telegram for more: \[t.me/beatthestreet10]
  •  @beatthestreet10
  •  @beatthestreet10
  •  JP Morgan On Coforge
  •  Remains Overweight with target price of Rs 2,080
  •  Confident about industry leading growth while sharply expanding margins
  •  Management was bullish with no signs of any of the macro concerns plaguing peers
  •  Large deals won in FY25 and locked in and a pipeline that remains strong
  •  @beatthestreet10
  •  Citi On Britannia
  •  Retains buy revises target price to Rs 6,500 (vs. Rs 6,200 earlier)
  •  Marginally raises FY26-28E earnings estimates for Britannia by 0-1%
  •  Tweaks margin assumptions higher
  •  Expects profitability expansion driven by lower commodity costs
  •  @beatthestreet10
  •  MCON RASAYAN INDIA: Europlus One Realty Pvt Ltd bought 0.37 lakh shares (1.18% stake) at ₹113.91/share in a large NSE trade.
  •  Indicates institutional confidence; sentiment boost likely.
  •  @beatthestreet10
  •  AUTO: India explores alternatives as China tightens rare earth magnet exports; controls 90% of global supply.
  •  Auto, EV sectors face supply risk; potential cost pressures and delays loom.
  •  @beatthestreet10
  •  Bernstein on Sona BLW
  •  Downgrade to market perform, TP Rs 540
  •  With significant US exposure & bulk of its order book tied to EVs, see risk of earnings downgrades, which could cap further upside
  •  Co’s largest customer, US EV OEM(15–20% of rev ), has been losing share.
  •  With 77% of the order book tied to EVs and 40% of revenues from US, delays in OEM investments could slow execution
  •  Lower FY27–28 Auto estimates by 4–5%
  •  Trump–Elon tensions, proposed “big, beautiful” bill phasing out EV subsidies, ongoing US–India trade issues, & rising strength of Chinese OEMs all present near-term risks
  •  @beatthestreet10
  •  CLSA on Telecom
  •  RJio gains 92bps share in 4
  •  Duo has 81% of sector rev
  •  Sector rev up 13% YoY in FY25; Bharti Airtel leads growth
  •  VI lost 1.6ppt YoY share to 14.1%
  •  With awaited fund raising of VIdea, expect top two’s combined share to rise to 85% by FY27
  •  @beatthestreet10
  •  MOTILAL OSWAL ON TATA MOTORS
  •  Neutral, target retained at ₹690
  •  Execution key amidst weak CV/PV demand; JLR headwinds persist
  •  Ambitious FY27 targets: 40% CV share with EBITDA in teens, 16% PV share with double-digit margins
  •  Demerger timelines on track; refrain from estimate changes due to lack of triggers
  •  PV target of 16% share by FY27 and 18-20% in 2-3 years hinges on new launches
  •  Challenges persist in CV/PV execution amid cost 3900 pressures and demand concerns
  •  JLR faces risks from US tariffs, weak China/Europe demand, and rising costs
  •  Management refrains from FY26 guidance; expect 100bp margin compression at JLR by FY27
  •  @beatthestreet10
  •  ANTIQUE ON GODREJ PROPERTIES
  •  Buy, target raised to ₹3,101 vs ₹2,745
  •  Consistent execution across cycles; strong pipeline and BD firepower in place
  •  FY25 bookings hit all-time high at ₹294.4 Bn; 40% CAGR in bookings over FY17-25
  •  Economic interest in booked business rose from 39% in FY19 to 93% in FY25, boosting profitability and OCF (56.7% CAGR in FY20-25), QIP proceeds of ₹60 Bn and record OCF add muscle for future BD
  •  Strong firepower and launch pipeline for FY26
  •  FY26 BD guidance at ₹200 Bn; pre-sales pipeline at ₹400 Bn, pre-sales estimate revised up by 2%/11% to ₹330 Bn/370 Bn for FY26/27
  •  Unsold inventory >200 Bn; launches diversified across MMR, NCR, Bengaluru, Pune, Ahmedabad, and Hyderabad
  •  Strategic market spread enables growth, largest or second-largest developer across top 4 markets-NCR (36%), MMR (27%), Bengaluru (17%), continues to benefit from sector tailwinds with robust launch visibility in 2HFY26
  •  @beatthestreet10
  •  MORGAN STANLEY ON GRASIM INDUSTRIES
  •  Upgrade to Overweight from Equal-weight and upgrade target price to ₹3,500 vs ₹2,975
  •  Top Pick in coverage
  •  Multiple opportunities in play
  •  Paints business has fared better than expected since launch
  •  Next leg of paints value unlocking in play
  •  UltraTech remains the largest value driver for Grasim, and the company should benefit from a multi-year earnings compounding story at UTCEM
  •  New-age businesses are scaling up fast, driving earnings and value optionality
  •  Holdco discounts could moderate further when paints business scales up
  •  @beatthestreet10

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