65777 was seen in the new week with Sensex closing above 64777

MUMBAI: Indian stock markets have seen an expected big correction-decline in the last week as players shed massively overbought positions in the name of the Israel-Palestine war. Futures and options (F&O) gambling has shown a recovery over the weekend, with players addicted to speculating on options. In the global markets, uncertainty over the Israeli-Palestinian conflict and US bond yields reaching a high level of five percent for the first time since 2007, with fears about China's stimulus measures being effective, there has been a global softening in caution. While the results of global tech giant Amazon, Intel-inspired companies are good, on the one hand, the New York stock market continues to erode against a bullish release rally in the Nasdaq. European markets also turned softer over the weekend. Amidst global economic uncertainty, the U.S. Federal Reserve's two-day meeting followed by the interest rate decision on November 1, 2023, the Bank of Japan's interest rate decision at its October 31, 2023 meeting, as well as the October 1, 2023 S&P Global Manufacturing PMI and November 3 Services The PMI numbers will be monitored.

With the Israeli army entering Gaza and now Iran jumping directly into this war, a dangerous situation will arise for the market.

While the corporate results season at home is also looking good overall, the evening results of Reliance Industries over the weekend may provide the necessary support to the market in the coming week. But there is still a risk of this war spreading to other countries of the Middle East due to the aggressive attitude of Israel to eliminate Hamas and the growing anger of the Middle East countries against Israel. As Israel has entered the Gaza-Palestine border by land and launched attacks in this war, the war will become aggressive and if Iran jumps directly into this war, a dangerous situation can be seen for the Indian stock markets along with the global markets. Otherwise, the trend of correction in the market will be seen moving forward. In the new week, the market will watch the results of Larsen & Toubro on October 31, Bharti Airtel, Tata Steel, Sun Pharma Industries, Hero Motocorp on November 1 and Tata Motors on November 2 and Titan Company on November 3, 2023. Among these factors, the next week may see Sensex closing above 64777 on strong support of 62777 at 65777 and Nifty spot closing above 19333 on strong support of 18777 at 19666.

Arjun's Eyes : AKZO NOBEL INDIA LTD.

BSE (500710), NSE (AKZOINDIA) Listed Rs.10 Paid-up Established in India for 60 years, Multinational Exo Noble N.V. 74.76 percent MNC promoters holding of Netherlands (through wholly owned subsidiaries Imperial Chemical Industries Limited, United Kingdom and Exo Noble Coatings International B.V., Netherlands), ISO 45001(OHSAS), ISO 9001, ISO 14001 Certified, Exo Noble India Limited (AKZO NOBEL INDIA LIMITED) is a leading paints and coatings manufacturing company. The company supplies its products to industries and consumers. Parent Exo Noble is the world's largest coatings company. Which is leading with its own brands in many countries around the world. Headquartered in the Netherlands, ExoNoble is active in more than 150 countries with 33,000 employees.

Manufacturing Facilities-Products:

The company has five manufacturing facilities in India at Mohali-Chandigarh in North India, Gwalior-Madhya Pradesh for East and Central India, Thane-Maharashtra for Central India and Exports and Hyderabad and Bangalore for South India. Apart from this, the company has Research and Development Centers (R&D) at Thane and Bangalore. The company's products are Dulux, International, Interpon, Sikkens and Cotin. These products cater to households, institutions, builders and industrial users.

Architectural and industrial segments are major customers for paints and coatings industry in India. In which the consumption of paints in the architectural segment is 69 percent in terms of volume and 31 percent in the industrial segments. A positive development for the paints and coatings industry during the financial year 2022-23 has been the decline in raw material prices. Raw materials account for 55 to 60 per cent of the input cost. Declining crude oil prices and other components have improved the margin position for the industry.

Details of Shareholding: On the basis of change in total shareholding in one year as compared to 31st March 2022, as on 31st March 2023, the promoters holding in the company is Imperial Chemical Industries Limited-U.K. 22,977,544 shares 50.46 percent holding (22,977,544 shares 50.46 percent), Exo Noble Coatings International B.V. The Netherlands holds a total of 34,044,335 shares holding 74.76 percent holding 11,066,791 shares 24.30 percent (11,066,791 shares 24.30 percent holding). 11,20,000 shares of Exo Noble India Limited were purchased by the shareholders resolution dated 22nd May 2018. Among other shareholdings, Asian Paints Limited holds 4.42 per cent, financial institutions, HNIs and mutual funds hold 13.71 per cent and individual shareholders-retail investors up to Rs 2 lakh hold 6.87 per cent.

Bonus history: 2:5 share in 1966, 1:3 share bonus in 1978

Dividend: 140 percent in 2020, 500 percent in 2021, 750 percent in 2022, 650 percent in 2023

Earnings per share (EPS) : Rs.52.13 in March 2020, Rs.45.59 in March 2021, Rs.63.74 in March 2022, Rs.73.65 in March 2023, expected Rs.101.76 in March 2024

Revenue: Rs.2661 crore in March 2020, Rs.2421 crore in March 2021, Rs.3148 crore in March 2022, Rs.3802 crore in March 2023, expected Rs.4187 crore in March 2024

Book Value: March 2020 Rs.271.69, March 2021 Rs.282.74, March 2022 Rs.276.41, March 2023 Rs.288.89, expected March 2024 Rs.390.65

Financial Results:

(1) Full year April 2022 to March 2023 : Earning a net income of Rs.3829 crore, NPM-net profit margin of 8.75 percent, net profit of Rs.335 crore and Earnings per share- EPS of Rs.73.58.

(2) First quarter April 2023 to June 2023 : Net income increased by 6.96 percent to Rs.1007.40 crore from NPM of 10.90 percent to net profit of Rs.109.90 crore and quarterly earnings per share-EPS of Rs.24. 12 has been achieved.

(3) Expected Nine Months July 2023 to March 2024 : Expected Net Income Rs.3180 Crore Net Profit from Rs.353 Crore Nine Months Earnings per Share-EPS Rs.77.58 Expected.

(4) Expected full year April 2023 to March 2024 : Earnings per share expected to be Rs.101.76 with expected net income of Rs.4187 crores and net profit of Rs.463 crores.

Thus (1) The author has no investment in the 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 Samachar or any other person shall not be liable for any possible loss on investment.(2) Multinational Promoters Exo Noble N.V. 74.76 percent holding of Netherlands (3) Expected Full Year April 2023 to March 2024 Expected Earnings-EPS of Rs.101.76 and Expected Book Value of Rs.390.65 against Rs.10 paid-up Share Rs.2422 on BSE .50 (Rs.2423 on NSE) is available at a P/E of 23.81.(4) Asian Paints has a P/E of 63, Kansai Nerolac has a P/E of 45, Indigo Paints has a P/E of 46, Berger Paints has a P/E of 70. Exo Noble India Limited should have a P/E of 30 against the industry average P/E of 62.