Sensex will see 60222 or 60822 in the new week

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Mumbai: On the global front, the whirlwind of banking and financial crisis has calmed down in America and Europe. But the problem of unemployment is getting worse. In America, Europe, companies are laying off a large number of employees, but there is still uncertainty about the increase in unemployment and inflation. Due to the opinion of the central banks that inflation is at a high level, opinions are prevailing in the central banks of various countries regarding the interest rate policy. Even in the Reserve Bank of India, there is a clear uncertainty as to how long the interest rate hike can be put on hold due to the uncertainty regarding inflation. But by focusing on economic development, efforts to improve the market sentiment will be seen in the coming days, in anticipation of increasing the efforts of the government ahead of the state elections and then the Lok Sabha elections, so that the problem of unemployment does not worsen. After an overall weak start last week on the back of corporate results from IT companies, Reliance Industries Limited's excellent performance both quarterly and year-on-year over the weekend is likely to boost local funds' appeal in the coming week. Although foreign portfolio investors again became net sellers in the last week, the index-based market was soft. But from here, as mentioned last Sunday, small, mid-cap stocks are seeing a bullish glow. Now in the coming week, as the April trend in F&O ends on Thursday and more corporate results are expected to be announced, the index based market may need to be volatile. In the new week, Sensex may see 60222 to 60822 and Nifty spot 17977 to 17822 to 17422 support.

Arjuna's Eye : ESAB INDIA LTD.

NSE (ESABINDIA), BSE (500133) Listed, Rs.10 paid-up, 73.72% joint promoter holding of Esab Holdings and Axalvia Group of Multinational Esab Corporation in existence for more than 100 years, Esab India Limited offers a wide range of welding and cutting products. Along with being a leading entrepreneur in fabrication technology. The company's product portfolio includes a complete range of welding and cutting products. The company is now a major international brand in the Indian market with a wide range of welding and cutting products with a strong manufacturing, sales and distribution network at home. Esb has become an integral part of industries such as Shipbuilding, Petrochemical, LNG Solutions, Mobile Machinery Solutions, Construction, Transport, Offshore, Energy and Repair as well as Maintenance through its products. The company's products include robotics, PPE and accessories, plasma, gas equipment, filler metals, digital solutions, welding automation, cutting automation, arc welding equipment.

Elektriska Svetsnings-Aktiebolaget (ESAB) was founded by Swedish engineer Oscar Kjellberg, who invented the world's first welding electrode in 1904. After this establishment, the multinational ISAB Group, which has been continuously innovating in the field of welding for important industries of the world, has been acquired by Colfax Corporation in January 2021. Based in Isab Holdings and holding in Netherlands based Excelvia Group India BV in the USA. The wholly owned subsidiary located was transferred to ISAB Corporation. In addition, Colfax Corporation sold 90 percent of its holding in Isab Corporation to the public shareholders of Colfax Corporation and separated itself from Isab Corporation, Delaware, USA and reduced its holding in Isab Corporation to 10 percent on April 4, 2022. With which from April 4, 2022 Isab Corporation, Delaware, USA. Finally, ISAB has become the parent company of India.

Apart from the fact that many projects are taking shape by the government in the country with focus on infrastructure development, the demand and consumption of steel for construction, real estate development will remain strong and the domestic demand for steel is expected to grow by 10 to 12 percent in FY 2023. Which is expected to benefit the fabrication, welding technology industry. Along with this, ISAB India is expected to perform well, benefiting from the global network and state-of-the-art technology of its multinational promoters group, ISAB Corporation.

Dividend: 910 percent in 2018, 700 percent in 2020, 660 percent in 2021, 680 percent in 2022

Share holding pattern: Promoters Esb Holdings Ltd. 37.31 percent and Axalvia Group India B.V. 36.41 percent together with promoters holding 73.72 percent, mutual funds holding 13.21 percent, SBI Retirement Benefit Fund holding 9.56 percent. , PGIM India trustees hold 3.07 percent, foreign portfolio investors hold 0.77 percent and individual shareholders up to Rs.2 lakh hold 8.74 percent.

Book Value : Rs.158.69 as of March 2022 Expected Rs.244.98 as of March 2023 Expected Rs.372.23 as of March 2024

Financial Results: (1) Full Year April 2021 to March 2022:

Net income rose to Rs.900.98 crore from Rs.692.34 crore, net profit rose to Rs.84.31 crore from Rs.59.29 crore, from NPM of 9.44 percent, earning EPS of Rs.38.52 increased to Rs.54.78. (2) First Nine Months April 2022 to December 2022 : Expected net income increased by 25 percent to Rs.793.91 crore from expected Rs.635.04 crore and net profit increased by 49 percent from Rs.62.97 crore to NPM 11.87 percent. Earnings of Rs.93 crore have achieved nine monthly earnings per share-EPS of Rs.60.95. (3) Expected Fourth Quarter January 2023 to March 2023 : Quarterly Earnings per Share-EPS expected at Rs.25.34 with expected net income of Rs.285 crore and net profit of Rs.39 crore. (4) Expected full year April 2022 to March 2023 : Expected net income of Rs.1078 crores with NPM of 5.04% net profit of Rs.132 crores and earnings per share of Rs.86.29 expected.

(5) Expected full year April 2023 to March 2024 : Expected net income of Rs.1360 crores at NPM of 5.03 percent, net profit of Rs.195 crores and earnings per share of Rs.127.25 expected.

Thus (1) The author has no investment in shares of the above company. Authors may have direct or indirect personal vested interests in research sources. CONSULT A QUALIFIED INVESTMENT FINANCIAL ADVISOR BEFORE MAKING ANY INVESTMENT DECISION. The author, Gujarat News or any other person shall not be responsible for any possible loss on investment. (2) The company expects earnings per share of Rs.86.29 and book value of Rs.244.98 in the expected full financial year 2022-23. (3) Expected Earnings per share EPS of the company for the full financial year 2023-24 is Rs.127.25 and expected book value is Rs.372.23. The stock is currently trading at Rs.3391.30 on NSE, BSE at a P/E of only 27 as against expected earnings per share for March 2024. (4) Isab India Limited is normally fetching a P/E of 43.

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