Meghmani Organics: Low Valuation but Peak Margins?
Meghmani Organics is a pigments, agrochemicals and basic chemicals manufacturer. The past one year has been a particularly good year for the company, due to the shutdown of a number of chemicals companies in China. Its revenue growth picked up from June 2017 quarter onwards, along with expansion in operating profit margin (OPM).  
 
For the quarter ending June 2018, the company...
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Kiri Industries: Undervalued?
The stock of Kiri Industries Ltd (KIL), which manufactures and exports dyes, intermediates and chemicals, is one that has baffled investors for years. It is cheap and has a valuable investment in a global company DyStar; but it is unclear how the shareholders of KIL will benefit from this holding. 
 
KIL had embarked on a two-stage backward integration process by setting up India’s...
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Nifty, Sensex under Pressure – Thursday closing report

We had mentioned in Wednesday’s closing report that Nifty, Sensex were extremely overbought. The major indices of the Indian stock markets were range-bound on Thursday and closed with minor losses over Wednesday’s close. On the NSE, there were 973 advances, 770 declines and 328 unchanged. The closing values of the major indices in the course of Thursday’s trading are given in the table below:

 

 
The key equity indices traded in the red on Thursday due to a weak rupee along with profit booking ahead of August futures and options expiry later in the day. The indices had, however, opened on a positive note, but could not hold on to the gains. The Indian currency earlier in the day touched its lowest-ever mark of 70.81-82 per US dollar, which dampened the market sentiments. According to analysts, selling pressure was witnessed in banking stocks, followed by finance and FMCG (fast moving consumer goods) counters.
 
Jet Airways said that it will introduce 28 new flights in the coming month. "Being a network carrier, Jet Airways' new services -- including industry firsts as well as a mix of non-stop and one-stop flights -- will strengthen the airline's footprint, enabling it to meet the rising demand for domestic and international air travel in emerging cities," the airline said in a statement.  "The new services will also help connect guests with other cities including metros as well as the airline's global network via its hubs in Mumbai, Delhi, and Bengaluru." According to the airline, it will introduce daily flights from Indore to Jodhpur as well as to Vadodara. "In other notable firsts, Jet Airways is also set to commence flight operations between Chandigarh and Lucknow, Ahmedabad and Jodhpur as well as Vadodara and Jaipur," the statement said. "Jet Airways will be the only airline in the country operating these routes which will improve connectivity between north India and central as well as western India." Jet Airways shares closed at Rs286.80, down 1.54% on the NSE.
 
Reliance Infrastructure (RInfra) said that it has completed the Rs18,800-crore sale of its Mumbai integrated distribution business to Adani Transmission (ATL), which will help RInfra reduce its debt by nearly two-thirds to Rs7,500 crore. At a media briefing following a board meeting to approve the transfer of the Mumbai power business, RInfra chairman Anil Ambani announced the closure of the deal which had been signed in December last year. "For Reliance Infrastructure, this is truly a transformative transaction. The company's gross debt will be reduced from about Rs22,000 crore to only Rs7,500 crore, representing a steep debt reduction of 65% in a single transaction," he said. In the past eight months, the sale has received regulatory approvals from the Competition Commission of India, shareholders of the company and the Maharashtra Electricity Regulatory Commission. RInfra shares closed at Rs464.00, up 5.62% on the NSE.
 
Diversified engineering company Greaves Cotton Ltd said it will acquire 80% stake in electric vehicles (EV) company Ampere Vehicles Pvt Ltd for Rs152.50 crore in two stages. In a regulatory filing in BSE, Greaves Cotton said it will acquire 67% stake in Ampere for Rs77 crore in the first phase to be completed by December 2018. Greaves Cotton can acquire an additional 13% stake in Ampere for Rs75.5 crore in a span of three years. As to the rationale for acquiring Ampere, Greaves Cotton said it is to accelerate development of clean energy technology solutions for last-mile mobility and to address wider range of customer segments with clean energy mobility solutions. Ampere has posted a revenue of Rs16 crore during April-July 2018. The Board of Directors of Greaves Cotton approved the acquisition on Wednesday. "With this strategic acquisition, we will be able to address a wider range of customer segments with clean energy mobility solutions. Greaves and Ampere will be a synergistic combination of our excellence in frugal engineering and manufacturing with a new age electric mobility solutions company," Nagesh Basavanhalli, MD & CEO, Greaves Cotton Ltd, was quoted as saying in a statement. Greaves Cotton’s shares closed at Rs158.30, up 7.58% on the NSE.
 
Cadila Health - Zydus has received the final approval from the USFDA (United States Food and Drug Administration) to market two products, Gemfibrozil Tablets USP and Aripiprazole Orally Disintegrating Tablets USP. Gemfibrozil used in treating high cholesterol, risk of stroke, heart attack and Aripiprazole is an antipsychotic drug. Cadila Healthcare shares closed at Rs390.00, up 0.74% on the NSE.
 
Tata Power has commissioned 820.8kWp World’s largest solar rooftop installation on a cricket stadium, at CCI, Mumbai. This will help to generate 1.12 million units per year which lead to 25% savings in power consumption cost and curbs CO2 emission of over 840 tonnes annually. Tata Power shares closed at Rs76.15, down 0.98% on the NSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
 

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