Broad Strokes, September 11, 2024

🟢 Tata Consumer Shares Rise 40% in a Year

• Tata Consumer Products Ltd (TCPL) shares have surged 40% over the past year, with ICICI Securities projecting a revenue CAGR of 15.8% and PAT CAGR of 18.9% from FY24-26. 🚀
• Tata Starbucks has ambitious plans to double its store count to 1,000 by FY28 and potentially achieve a 20% EBITDA margin.
• Tata Power has climbed 32% in 2024 due to the commencement of solar cell production at its Tamil Nadu facility, while Tata Motors faced a 17% decline from its highs. 🔋🚗

🟡 Goldman Sachs Invests in Arvind Fashions

• Goldman Sachs made a significant investment in Arvind Fashions, acquiring over 10 lakh shares at an average price of Rs 580.71 through a bulk deal. 💼
• Despite a 4.04% revenue contraction, Arvind Fashions has delivered a 75% return over the past year, outperforming the Nifty index. 📈

🛢️ Oil Stocks Decline as Brent Crude Falls

• Oil stocks saw sharp declines as Brent crude fell below $70 per barrel due to OPEC’s downward revision of oil demand forecasts.
• Oil India and ONGC dropped by up to 6%, with warnings of further earnings downgrades for upstream companies. 📉

🔋 India Faces Renewable Energy Challenges

• Gensol Engineering announced India’s first Green Hydrogen Valley in Pune, boosting its stock by 3%. 🟢
• The Adani Group is planning a Rs 83,950-crore semiconductor plant in Maharashtra, creating over 5,000 jobs. 💡
• However, scaling India’s renewable capacity faces significant challenges, including land access and climate risks. 🌍

🟣 Zaggle Prepaid Ocean & Zomato Stocks Surge

• Zaggle Prepaid Ocean Services shares surged 20% in two days, reaching a 52-week high after partnering with HDFC Ergo for reward platforms. 📱
• Zomato hit a record high of Rs 281.40, marking a 120% increase this year, with analysts projecting further gains. 🍴

🟢 Ramco Systems’ Stock Surges on Software Launch

• Ramco Systems stock surged 6% to a 52-week high of ₹455 after the launch of its Aviation Software 6.0, which features AI-driven MRO capabilities. ✈️
• The stock has outperformed the Nifty index, gaining 55% over the past year. 📊

🍾 Varun Beverages Announces Stock Split

• Varun Beverages announced a 2:5 stock split, effective September 12, 2024, aiming to enhance liquidity. 📅
• The stock rose 4% ahead of the record date, with a 67% increase over the past year and a 22.3% gain year-to-date. 🥤

📉 Route Mobile Promoter to Sell 6% Stake

• Proximus Opal, the promoter of Route Mobile, is set to sell a 6% stake through an Offer for Sale (OFS), starting September 12 at Rs 1,635 per share. 📉
• Meanwhile, Kumar Mangalam Birla increased his stake in Vodafone Idea despite promoter reductions. 📱

📈 Regreen-Excel Files for IPO

• Regreen-Excel has filed for an IPO with SEBI, including a fresh equity issue of Rs 350 crore. 🌱
• This comes amidst rapid growth in India’s renewable energy sector. 🌞