Heritage Foods: Heritage Foods Soars 10% as TDP’s Naidu Becomes CM
The Shares of Heritage Foods locked at 10% after the Telugu Desam party Chandra Babu Naidu elected as CM in the Andhra Pradesh. The Heritage Foods is running by His wife stake of 24.37% and his son stake of 10.38%. So this news of elected CM as Father, This stock rallied today. Net profit stands at 106.50 in FY 24, EBITA rose to 51.4%, Margin is at 5.5%, and Net revenue at 17.7% as Rs.3793.5 cr.
HERITAGE FOODS Market price has broken box pattern in upside
Shares of Heritage Foods were locked at a 10 percent upper circuit to Rs 601 on June 6 for the second consecutive session. The positive sentiment follows the confirmation that Telugu Desam Party (TDP) leader Chandrababu Naidu will become the Chief Minister of Andhra Pradesh after the recent assembly elections.
The connection to Heritage Foods is significant because Nara Bhuvaneshwari, the wife of the Chief Minister-elect, and Nara Lokesh, his son, are major stakeholders in the company. As of the end of March, Nara Bhuvaneshwari held a 24.37 percent stake, while Nara Lokesh had a 10.82 percent stake.
Given these developments, trading volumes have surged sharply. On June 6, 5.6 million shares changed hands, much higher than the one-month average of 2.7 million shares. On the previous day, around 10 million shares were traded, according to data from Moneycontrol.
Heritage Foods has reported substantial year-on-year growth of 83.6 percent in its consolidated profit after tax for the financial year FY24, reaching Rs 106.50 crore. The company’s revenue increased by 17.1 percent year-on-year to Rs 3,793.9 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 51.5 percent to Rs 209.50 crore, with the margin improving by 125 basis points to 5.52 percent in FY24.
BHEL: BHEL Surges on Adani Power’s ₹3,500 Crore Order
The BHEL State Owned company received order worth of Rs.3500 cr from Adani Power today, 2*800MW Thermal Power project- 1 Unit supplying by 35 Months, 2nd unit supplying by 41 Months contract, supplying Turbines, Boilers and Generators other equipments used for Therman Power projects.
BHEL Market price is moving in Ascending channel and market has rebounded from the higher low area of the channel
Shares of Bharat Heavy Electricals Limited (BHEL) surged, registering double-digit gains in early trading on June 6, following the announcement of a significant order worth over Rs 3,500 crore from Adani Power.
The order entails the establishment of a 2×800 MW thermal power plant (TPP) in Raipur, Chhattisgarh. Under the contract, BHEL will supply equipment such as boilers, turbines, generators, and related auxiliaries, as well as oversee the commissioning of the power project utilizing ‘supercritical technology.’
The boilers and turbine generators will be manufactured at the company’s plants in Trichy and Haridwar, respectively. According to BHEL, the order specifies the supply of unit-1 within 35 months and unit-2 within 41 months.
BHEL has also secured an order from Mirzapur Thermal Energy (UP) Private Ltd to construct a 2×800 MW thermal power project at Mirzapur Phase I, in Uttar Pradesh, valued at over Rs 3,500 crore.
In the fiscal fourth quarter, the company reported a 26 percent decline in net profit year-on-year to Rs 489.6 crore, compared to Rs 658 crore in the same quarter of the previous year. Despite this decline in profit, the company’s revenue from operations saw a slight increase of 0.4 percent, reaching Rs 8,260.3 crore, up from Rs 8,227 crore in the corresponding period of the previous fiscal year.
FORCE MOTORS: Force Motors Stock Dips 2% on May Sales Decline
The Force motors reported Domestic sales declined by 1% to 2594 Vehicles sold compared to 2609 Vehicles sold last year. Export sales dropped to 64% as 180 Units only sold compared to 490 Units sold in the last year. Company operating net profit declined to 4% as Rs.140.52 cr, revenue is climbed up by 35.4% as Rs.2011.12 cr, EBITA rose to Rs.278.70 cr from 120.80 cr in the past year, Margin increased by 14% from 8% in the last year.
FORCE MOTORS Market price has broken Ascending channel in downside
Shares of Force Motors Limited experienced a 2 percent decline, trading at Rs 8,222 in morning trade on June 6, following the company’s announcement of a marginal drop in sales for May. This downturn contrasts sharply with the previous month, where sales saw a robust increase.
According to a regulatory filing by Force Motors, sales of its small and light commercial vehicles and utility vehicles dropped by 1 percent to 2,592 units in May. This figure is slightly lower than the 2,609 units sold in the same month the previous year.
The export business of the company experienced a significant decline, plummeting by about 64 percent to 180 units from 491 reported in the corresponding month of the previous fiscal year. However, the domestic segment of the business saw a 14 percent increase, with the company selling 2,412 units, according to company data.
In the fiscal fourth quarter, Force Motors reported a net profit decline of over 4 percent year-on-year to Rs 140.3 crore, while revenue climbed by 35 percent year-on-year to Rs 2,011.2 crore. The operating level EBITDA surged to Rs 278.7 crore from Rs 120.8 crore in the corresponding period of the previous fiscal year, with the EBITDA margin reaching 14 percent, up by 600 basis points year-on-year.
Force Motors operates as an automobile company with expertise across the entire spectrum of vehicle manufacturing, from design and development to production. Their product lineup includes a variety of vehicles such as Light Commercial Vehicles (LCV), Multi-Utility Vehicles (MUV), Small Commercial Vehicles (SCV), Sports Utility Vehicles (SUV), and Agricultural Tractors.
Despite this recent decline, Force Motor shares have seen a significant increase of 30 percent over the past year.
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