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Dwarikesh Sugar’s share price has gone up 154% in the last five years. ICICIDirect expects 2x increase in distillery volumes to boost earnings with CAGR of 30.7% during FY22-24E. It maintains BUY rating on the stock and values it at Rs 145, valuing the business at 10x FY24 PE.

As impact of tea commodity inflation was largely over by 1HFY22, Tata Consumer Products (TCPL) has continued to report strong improvement in profitability, as expected. That said, Beverages and Foods volume growth of +3% and -1% appears underwhelming, not entirely surprising though, ICICI Securities said.

According to data from AceEquity, Nifty50 index has delivered negative returns in Covid-19 hit 2020 and, prior to that in 2012. On the other eight occasions, the NSE barometer has ended the month on a positive note.

“We are looking at another 100 bps of rate hikes which will take the terminal repo rate to 5.4% in FY24. As far as inflation goes, we are around 6% average for this year. It is not so much inflation as the fact that the rates are too low. That is why there are negative real rates and once the Fed starts to hike, all emerging market central banks including the RBI have to follow suit.”

The Relative Strength Index of the stock stood at 43.32 on Thursday.

MOSL said that it is cautious on steel demand in India at current steel prices. With the onset of the monsoon over the next two months, steel prices are set for a correction, it said adding that strong cash flow for TATA, however, will support any downside from current levels.

Capex guidance for CY22 was at ~Rs 1 billion and it would remain around similar levels in future as well. Castrol is venturing into new areas such as CAS and the tie-ups with Jio-BP (which would require capex) will help the company gain market share. The company is also looking to improve the yields through its cash on books of ~Rs 16 billion at present.

Among the five categories, employees and policyholders quotas were fully subscribed, with the given portions getting oversubscribed 2.16 times and 1.34 times, respectively.

Can Fin’s ability to sustain asset quality even in a tough environment reflects its entrenched business model, even as book size is much smaller than peers. With the growth outlook remaining robust, Axis Securities expects Can Fin Homes to sustain its growth momentum and grow AUM at a ~19-20% CAGR over FY23-24E.

Shares of City Union Finance rose to a high of Rs 1,694.45 as against Rs 1,621.60 at previous close on the BSE.