Tale of the Tape 

Hola Amigos.

Nifty and Sensex ended flat after a mostly boring and lacklustre trading session. Midcaps (+0.5%) and Smallcaps (+1%) had a much better day. The advance-decline ratio was in favour of the bulls (3:2).

It was a mixed-bad kinda day for sectors. Media (+4%) was the top winner, followed by NBFCs (+0.8%) and Pharma (+0.8%). On the flipside, FMCG (-1%), Energy (-0.6%) and Metals (-0.6%) saw the most selling pressure.

After a red, hot FY24, what does the future hold for real estate stocks? Read our top story to find out more.

Premier Energies IPO kicked off today. More details below will help you decide whether to subscribe.

Zee Entertainment, Datamatics and Medi Assist Healthcare saw big movements today. Check out their charts below to find out why.

WTF! Tata Elxsi. The stock was up for a second straight day rallying +16% intraday!

JSW Infrastructure jumped +8% after Jefferies initiated coverage on the stock; the brokerage sees a further +12% upside from Tuesday’s close.

Tata Technologies (+5%) was in focus after 1.3 cr shares (3.3% equity) changed hands in a block deal; the buyers and sellers were not immediately known. Meanwhile, Rolex Rings ended flat after 5.2 lakh shares (2% equity) changed hands in a big transaction.

Bharti Airtel was in focus after inking a deal with Apple for exclusive access to Apple+ TV content for its Xstream customers.

Paras Defence (+1%) will raise Rs 200 cr via the QIP route.

Here are the closing prints:

Sector
“Building” Portfolio Alpha

India’s real estate sector had a BONKERS 2023-24. The Nifty Realty Index has +2x over the last year, easily smoking the Nifty’s +30% gains. But what next? Experts predict a solid 18% growth in FY25. This is based on demand showing no signs of slowing down at the upper end and many real estate players expanding into new geographic markets (Prestige into Mumbai, Oberoi into Delhi, Brigade into Chennai etc).

With that in mind, here are JM Financial’s top three picks for the sector:

1) Macrotech Developers: Lodha has ~45 million square feet in launches over the next three years. The ‘King of Mumbai’ is currently developing key townships in Navi Mumbai and Thane for mid-income projects that could end up being a key positive trigger. The stock has also corrected -9% since its Q1 results, offering an opportunity to buy the dip. JM Financial has initiated coverage, with a target price of Rs 1,480 p/sh; +19% from current levels.

2) Keystone Realtors: The firm has a launch pipeline of Rs 11,400 cr until FY26, which analysts say should give it pre-sales CAGR of 35% over FY24-FY27. For the unaware: the company is Mumbai’s redevelopment expert. Despite being a small fish, it has a 11%-17% market share in key micro markets like Bandra East, Khar and Juhu mostly due to its ability to take on more redevelopment projects. JM Financial sees a +18% upside from current levels.

3) DLF: The company has benefited the MOST from the Delhi-NCR market consolidation. ICYMI - 70% of players in the region exited from real estate since FY17, with DLF grabbing the gains. The firm’s long-awaited re-entry into Mumbai (JV with Trident in Andheri West) is a key monitorable. FYI - the brokerage sees a +17% upside from current levels.

Stocktwits Specials
Right Time To Enter HAL? 💣

HAL has cooled off sharply post Budget and is trading near its key support levels. Brokerages and SEBI RAs continue to remain bullish and see healthy upside from current levels. What should be your next step - if you’re already holding the stock or considering buying? Check out our latest video and find out.