Sensex will see 62777 after a jump of 61777 in the new week

Stock markets will be closed on Monday on Maharashtra Day

MUMBAI: An overall encouraging start to Corporate India's January-March 2023 Q4 results season has boosted stock market sentiment. Along with the company results, this time the season of high dividend and buyback of stocks has also started, after the correction in the stocks, buying has started to increase again. Foreign Portfolio Investors (FPIs), who were short sellers in the last financial year, have been big buyers of stocks in April, resulting in a bullish rally in small, mid-cap stocks in the side market now following a rally in index-based funds. In one month, Sensex has increased by 2121 points or 3.59 percent from the level of 58992 on March 31, 2023 to the level of 61112 and Nifty spot has increased by 4.06 percent or 705 points from the level of 17360 to the level of 18065. As the situation worsened as a result of drastic increase in interest rates by the Reserve-Central Banks of various countries in the past few days to control inflation-inflation and the situation worsened as a result of thousands of employees being laid off by companies globally, the focus has started again on economic development. In Asia, China has also begun efforts to revive the economy to pre-Covid levels by focusing on economic growth with economic reform rather than stimulus. Due to which, the markets of Asian countries have seen a bullish movement at the end of the last week. In the last week, the end of the April trend in the derivatives has seen the bullishness of the traders in the market as well, shaking off the lethargy. In the next week corporate results now Tata Steel Limited on 2nd May 2023, ABB India on 2nd May 2023, Titan, Tata Chemicals, Blue Star on 4th May 2023, HDFC Ltd., Hero Motocorp, Tata Power, TVS Motor on 5th May 2023 The results of Bharat Forge, Cafetech, Coal India will be monitored. In the coming new week, as the stock markets will be closed on the occasion of Maharashtra Day on 1st May 2023, in a short week of four trading days, Sensex may see a fall of 61777 to 62777 from the support level of 60555 and Nifty spot to fall to 18477 from 18277 to the support of 17877.

Arjuna's eyes : AUTOMOBILE CORPORATION OF GOA LTD.

BSE (505036) listed only, Rs.10 paid-up, 49.77 per cent promoters holding of Tata Motors Limited, paying out 55 to 60 per cent of net profit as dividend, ISO 9001:1994, ISO 9001:2000, QS 9000, TS 16949:2002, TS 16949:2002, IATF 16949, TS16949 Secon Edition Certified, Automobile Corporation of Goa Ltd. (AUTOMOBILE CORPORATION OF GOA LTD.), erstwhile Tata Engineering and Locomotive Company Ltd. (Tata Motors) in 1980 and EDC Ltd. The company jointly promoted by the company (formerly known as Economic Development Corporation of Goa, Daman and Diu Limited) set up the first engineering unit in Goa. The company is currently active in the manufacturing of Sheet Metal Components, Assemblies and Bus Coaches, Staff Transport Buses, Defense Buses, Luxury Buses, City Buses, School Buses, Slipper Buses, Special Purpose Vehicles, Sheet Metal Products. For which the company has manufacturing base in Honda (Goa), Bhuimpal (Goa), Pune (Maharashtra), Dharwad (Karnataka) in India. Operating since 1982, Tata Motors is a major supplier of pressings and assemblies to the Pune factory. The sheet metal division has more than 17,620 tonnes of high tonnage presses at its three units. In 1987, the company entered into a technical collaboration with Subaru car manufacturer Fuji Heavy Industries Limited-Japan for various models of chassis mounted bus bodies and the company established a full-fledged bus body building division. The company also signed an agreement with FHI-FUG Heavy Industries in 1995 to manufacture monocoque buses.

Share holding pattern: Promoters Tata Motors holds 49.77 percent, EDC Limited holds 6.66 percent, Arun Nahar holds 4.13 percent, Diana Dhun Ratnakar holds 1.08 percent, Pankaj Rakyan holds 1.44 percent, Rachna Credit Capital Pvt. Ltd. have 1.25 per cent and individual shareholders up to Rs 2 lakh have 19.59 per cent.

Book Value: Rs.277 as of March 2022 Expected Rs.323 as of March 2023 Expected Rs.375 as of March 2024

Dividend Pay-out: The company has a dividend pay-out track record of 55 to 60 percent of net profit pre-Covid.

Financial Results:

(1) Full year April 2021 to March 2022 : Earning a net income of Rs.289 crores, the company recorded a net profit of Rs.3.44 crores in 2021-22 after provisioning for extraordinary loss due to fire of Rs.5.94 crores in 2021-22. 5.65 was achieved.

(2) First quarter April 2022 to June 2022 : Net income increased by 255% to Rs.143.21 crores compared to net loss of Rs.3.38 crores in the corresponding period of last year and recorded net profit of Rs.8.28 crores Quarterly earnings per share-EPS Rs. .13.61 achieved. This includes fire insurance income of Rs.85 lakh.

(3) Second quarter July 2022 to September 2022 : Net income increased by 157 percent to Rs.141.42 crore compared to last year's net loss of Rs.1.56 crore and posted net profit of Rs.7.73 crore Quarterly earnings per share-EPS Rs. .12.70 has been achieved.

(4) Third quarter October 2022 to December 2022 : Net income increased by 16.78 percent to Rs.90.17 crore, net profit increased to Rs.4.10 crore compared to Rs.3.41 crore, Quarterly Earnings per Share-EPS Rs. 6.73 has been achieved.

(5) First nine months April 2022 to December 2022 : Net income increased by 117.23 percent to Rs.374.80 crores compared to Rs.172.53 crores compared to net loss of Rs.1.53 crores in the previous nine months, this time net profit is Rs. 20.13 crores and has achieved nine monthly EPS of Rs.33.04 per share.

(6) Expected Fourth Quarter January 2023 to March 2023 : Quarterly Earnings per Share-EPS expected at Rs.12.60 on expected net income of Rs.134.33 crore on expected net profit of Rs.7.35 crore.

(7) Expected full year April 2022 to March 2023 : Expected net income of Rs.509.13 crore, expected net profit of Rs.27.48 crore and full year earnings per share (EPS) of Rs.45.64 expected.

(8) Expected full year April 2023 to March 2024 : Full year earnings per share expected to be Rs.52.33 from expected net income of Rs.590 crore, net profit of Rs.31.86 crore 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) For the full year April 2023 to March 2024 expected earnings per share of Rs.52.33 and expected book value of Rs.375 shares of Automobile Corporation of Goa Ltd. are currently trading at Rs.806.85 on BSE only at an industry average P/E of 34 Against only P/E of 15.43 is available.