Tale of the Tape 

Good evening everyone. 👋

Nifty (-0.2%) and Sensex (-0.3%) ended lower as markets continue to consolidate ahead of the election results. Midcaps (-0.9%) and Smallcaps (-0.9%) had a bad day as well. The advance-decline ratio was in favour of the bears (4:1). 📉

Except Pharma (+0.5%), all sectors ended in the red or flat. Real Estate (-2%), PSU Banks (-1.3%) and Oil & Gas (-1%) got beat up the most. 🤕

Don’t let solar or wind stocks be your only clean energy bets. Read our story below to find out a whole category that gets less attention than it deserves. 🔍

Borosil Renewables (-5%) slumped after a weak Q4 show. Meanwhile, Doms Industries hit an all-time high after posting great Q4 numbers. More details below. 📊

Inox Wind, 3M India and Jubilant Industries saw big movements today. Check out their charts below to find out why. 🔥

Adani Enterprises (-1%) will raise up to Rs 16,600 cr through the QIP route and other methods. 💰

Brokerage upgrades. Aurobindo Pharma was up +2% after BofA raised its target price to Rs 1,370 p/sh. Meanwhile, LIC was in focus after JP Morgan said it sees a +29% upside from current levels. 🤑

Block deal. PB Fintech fell -4% after 55 lakh shares (1.2%) stake changed hands; reports say Tencent was the likely seller. Concord Biotech (-2%) was down after reports said an FII investor sold 37 lakh shares (3.4% stake). 🤝

NMDC (-1%) was in focus after hiking lump ore prices for the second time in two months. 💸

Here are the closing prints: 

Stocks
Make Money From Water

In the shining world of clean energy stocks, there’s a hierarchy when it comes to media and investor attention. Solar and EV firms are at the top, wind stocks somewhere in the middle and hydro PSUs at the bottom. But here’s one space that deserves way more attention. 💯

Wastewater treatment sounds humble, but it's critical for India’s future (and crazy lucrative). Fun facts: India’s water demand will overtake supply by 2030. In cities, only 28% of urban sewage is treated. The GOI is pouring in +$240 billion into the water sector. Finally, the ability to create ‘ultra-pure’ water makes the sector a key supplier for two of the hottest sunrise industries: semiconductors and green hydrogen. Here’s a quick rundown of the top 3 stocks from this space: 🚀

1) Va Tech Wabag: The stock has DOUBLED over the last year, easily shooting past all analyst target prices. The company does everything from designing, managing and constructing water treatment plants. It currently has an order book of Rs 11,866 cr which gives it revenue visibility for the next two years easily. FYI - all that poop it gets at the end of its process? It’s planning to recover biogas from it and sell it as fuel too. It will set up 100 new plants over the next five years just for that! 🏭

2) Thermax: The big daddy of the sector, the stock is up a whopping +72% YTD. For the unaware, Thermax got its start by making wastewater treatment chemicals. But it quickly got its fingers into all pies including steam power generation from waste! FYI - its big bet right now is green hydrogen. It has tied up with an Australian partner and expects projects to start kicking off in the next couple of years. ♻️

3) Welspun Enterprises: A dark horse that came out of nowhere. FYI - the stock has TRIPLED in the last year. What has happened? Well since 2021, it’s shifted the biggest chunk of its infra portfolio to water (yay!) from roads (eww). Its speciality is bagging state govt projects. ICYMI - Welspun made headlines after bagging an INSANE Rs 4,123 cr order to build a massive water treatment plant that will help most of Mumbai! 🚰

Specials

The Telecom Battle ⚔️

Bharti Airtel is on fire! The stock is +68% in the past year to hit a new all-time high of Rs 1,407 p/sh. But, is it still a buy at current levels or should you wait for a dip?

Check out our latest video where we break down all the key updates on Bharti Airtel, covering both fundamental and technical analysis. Also, find out SEBI RAs’ views on the stock. 👇🏻

Earnings

Earnings Roundup

Doms Industries (+4%) put out a solid set of Q4 numbers! Strong domestic demand offset export weakness to boost topline growth. Stable raw material prices + a higher-value product mix aided margins and bottomline! 📊

The management said it kicked off construction of its largest-ever stationery & art material manufacturing facility in Gujarat. This will help meet growing demand. FYI - JM Financial has upped its target price on the stock to Rs 2,000 p/sh; +4% from current levels. 👍

Here’s its Q4 report card:

• Revenue: Rs 403 cr; +20% YoY

• EBITDA: Rs 76 cr; +22% YoY

• EBITDA Margin: 18.8% vs 18.4% YoY

• PAT: Rs 47 cr; +29% YoY

Doms Industries is +50% YTD.

Borosil Renewables (-4%) Q4 results were BAD! Weak demand in European markets took a toll on its topline. Meanwhile, lower selling prices in India, mostly due to dumping from China, ate into its margins and the bottomline. Not-so-fun fact: the company reported a loss for FY24 as a whole too. 😣

India’s anti-dumping duty on Chinese solar glass ended in May 2022. Since then, it’s been a steep drop for Borosil. To make matters worse: its exports have been hit by a demand slump in Europe. It’s unclear what can be done to turn this around right now. Rough time to be a solar glass manufacturer! 🌥️

Here are its Q4 stats:

• Revenue: Rs 283 cr; -8% YoY

• EBITDA: (Rs 21 cr) vs Rs 39 cr YoY

• EBITDA Margin: (-7.4%) vs 12.6% YoY

• Loss: Rs 53 cr vs profit of Rs 10.5 cr YoY

Borosil Renewables is -7% over the last year.

Charts

Chartbusters

Here are three companies that saw big movements today:

1) Inox Wind was the top NSE 500 loser after 2.75 cr shares (5% equity) changed hands in a block deal. Reports say the promoter is the likely seller which spooked investors. ICYMI - Inox has been doing decently but the wind sector has received some unsettling GOI regulatory setbacks over the last few months. A lack of promoter confidence is the last thing the industry needs! 📉

2) 3M India was the top gainer on the NSE 500 after a decent Q4 show. But what got markets excited was its HUGE dividend payout. FYI - 3M declared a final dividend of Rs 160 p/sh. When combined with another special dividend of Rs 525 p/sh, that takes the total shareholder payout to an INSANE Rs 685 p/sh. Diwali has come early! 🤑

3) Jubilant Industries was locked in an upper circuit after reporting awesome Q4 numbers. FYI - the company’s net profit DOUBLED YoY. On top of that, it also announced a demerger plan for its agri & sulphuric biz. This should help concentrate its focus on its core ‘performance polymers’ vertical while unlocking value for the other verticals. 💯

Check out their charts below: 📈 

Links That Don’t Suck

🚀 Buy Airtel shares? BIG Targets on Bharti Airtel | Airtel share analysis| Airtel share news in Hindi 

✅ Four India Election Scenarios and What They Would Mean for Modi 

💳 Adani Group to enter UPI, digital payment, credit card business to compete Google and Reliance: Report 

🙈 Riyan Parag's YouTube Search History Leaked; Viral Video Reveals IPL Star Searched For 'Ananya Panday Hot', 'Sara Ali Khan Hot' 

🍿 Panchayat Season 3 Review: Jitendra Kumar’s The Hero & Faisal Malik Is The Star Of This Series Making The P In Panchayat Stand For Perfection!

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