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As RBI relents on policy stance, what is the outlook for Indian equities?

Money ControlMoney Control · 1y ago
As RBI relents on policy stance, what is the outlook for Indian equities?
Medial

the MPC meeting, several factors were considered that led to the change in policy stance: 1. Economic slowdown: The Indian economy has been facing a slowdown, with GDP growth falling to its lowest level in recent years. The rate cut is expected to provide a boost to the economy and revive growth. 2. Inflation outlook: The inflation rate has remained well within the RBI's target range, providing room for a rate cut. Lower interest rates can help stimulate consumption and investment, driving inflation higher. 3. Global factors: Weak global growth and uncertainty due to trade tensions have also influenced the decision. The RBI believes that a rate cut could help counter potential external risks and support domestic demand. 4. Liquidity conditions: The banking system has been facing liquidity constraints, which have impacted credit flow in the economy. The rate cut is expected to improve liquidity conditions and make credit more easily available. 5. Policy transmission: Despite previous rate cuts, the benefits were not fully passed on to borrowers. The RBI expects that a change in policy stance will encourage banks to transmit the rate cut to borrowers more effectively. 6. Market expectations: Market participants were anticipating a rate cut, and the change in policy stance aligns with these expectations. This move is seen as a positive signal for the stock markets and investor sentiment.

Trade Spotlight: How should you trade Grasim, Syngene, Birlasoft, ADF Foods, KFin Technologies, and others on Wednesday?

Money ControlMoney Control · 1y ago
Trade Spotlight: How should you trade Grasim, Syngene, Birlasoft, ADF Foods, KFin Technologies, and others on Wednesday?
Medial

The stock market closed with moderate gains, and here are some trading ideas for the near term: 1. Century Textiles and Industries: The stock is showing positive momentum and is currently trading at lifetime high levels. Use dips as a buying opportunity, with targets of Rs 2,650-2,700. 2. KFin Technologies: The stock witnessed a sharp rally and made a lifetime high. The trend is bullish, and one can adopt a buy-on-dips approach with targets of Rs 1,200 and Rs 1,240. 3. ADF Foods: The stock closed above a key level, confirming a breakout. The trend is positive, and one can consider buying on dips with targets of Rs 290-295. 4. Castrol India: The stock formed a bullish candle with higher volumes, indicating strong momentum. It is trading above its 20 DMA and has a positive outlook. Consider initiating a long position with a target of Rs 305. 5. Birlasoft: The stock is showing an upward trend and has strong volume participation. It is sustaining above its 20 DMA and has a bullish outlook. Consider buying with a target of Rs 700. 6. ICICI Prudential Life Insurance Company: The stock is forming higher highs and higher lows, indicating a sustained uptrend. It is positioned well above its short-term moving average, with a positive RSI reading. Consider buying with a target of Rs 790. 7. Syngene International: The stock is exhibiting robust momentum and is likely to extend its upward trajectory towards targets of Rs 880-900. Consider buying with a strict stop-loss. 8. Jindal Steel & Power: The stock is showing a solid upward trend with increasing volumes. Consider buying with targets of Rs 1,010 and Rs 1,026. 9. Grasim Industries: The stock is showing encouraging momentum and is approaching its support zone. Consider buying with targets of Rs 2,800 and Rs 2,825. 10. Dixon Technologies: The stock has recently broken out and is currently experiencing a pullback. Consider buying on declines with a target of Rs 14,000.

LoadShare’s scale remains flat in FY23, losses shrink 19%

EntrackrEntrackr · 1y ago
LoadShare’s scale remains flat in FY23, losses shrink 19%
Medial

Last-mile logistics startup LoadShare seems to have lost momentum during FY23 as the company’s scale barely grew in single digits as compared to over 90% growth in FY22. However, in a pointer perhaps to the firm’s focus during the year, it managed to cut losses by almost 20% during the fiscal year ending March 2023. LoadShare’s revenue from operations grew 6.5% to Rs 384.5 crore during FY23 as compared to Rs 361.2 crore in FY22, as per its consolidated annual financial statement with the Registrar of Companies. Loadshare provides logistics solutions which include 10-minute quick commerce, 30-minute food deliveries, intraday e-commerce deliveries, and regional trucking to warehouses. The majority of its revenue comes from B2B deliveries while the rest from B2C delivery services. The company has not disclosed the breakdown of revenue in FY23. Loadshare claims to process over 350K last-mile deliveries per day and serves over 200 clients across more than 10,000 pin codes. Moving further, delivery charges and related costs formed 71.4% of the total expenditure which went up 12% to Rs 362.2 crore in FY23 from Rs 323.5 crore in the previous financial year(FY22). Spends on employee benefits grew 36.8% to Rs 95.85 crore during the year from Rs 70.08 crore in FY22. This cost also included expenses on the employee stock option scheme and employee stock purchase plan worth Rs 17.35 crore in FY23 and Rs 11.13 crore in FY22. LoadShare further incurred expenses on information technology, legal & professional fees, and other operating and admin expenses which catalyzed its total expenditure to Rs 507.5 crore in FY23. However, compared to the previous fiscal year, the company’s total expenses increased only 1.8% from Rs 498.3 crore in FY22. Head to the startup intelligence platform TheKredible for more details about the company’s financials. Following its prudent spending, LoadShare’s losses shrank 19.4% to Rs 111 crore during FY23 against Rs 137.7 crore in FY22. Additionally, operating cash outflows of the company went up 38.3% to Rs 98.9 crore during the last fiscal year. While its net cash outflows stood at Rs 5.45 crore. Coming to ratios, the EBITDA margin of the firm bettered to -25.79% in FY23 whereas ROCE registered at -75.61%. On a unit level, LoadShare spent Rs 1.32 to earn a rupee of operating revenue during the fiscal year. FY22-FY23 FY22 FY23 EBITDA Margin -35.19% -25.79% Expense/₹ of Op Revenue ₹1.38 ₹1.32 ROCE -54.92% -75.61% As per TheKredible, LoadShare has raised over $60 million to date from the likes of Tiger Global, Beenext, Matrix Partners, and Filter Capital, among others. It last raised $40 million in Series C funding led by Tiger Global in February 2022. The direction of the firm’s business, when taken with the broad direction of the economy, would seem to indicate Fy24 will mark further improvement in metrics for LoadShare. A double digit growth in topline with a further shrinking of losses to bring EBITDA margins to -15% or below would be a welcome target, placing the firm in a position to build strongly for growth again. The broader market seems to be on a strong footing after years of investments by multiple startups and established players, and logistics services firms like LoadShare find a far more receptive market for their services today. Investor interest will narrow down to the larger firms in the business soon, and LoadShare should be well placed to attract further support for its growth ambitions.

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