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Course5 Intelligence files draft papers to raise Rs 600-crore via IPO

Pure-play data analytics and insights compay Course5 Intelligence Ltd has filed preliminary documents with markets regulator Sebi to raise Rs 600 crore through an initial share-sale. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an Offer For Sale of equity shares aggregating up to Rs 300 crore, according to the draft red herring prospectus (DRHP).

As part of the OFS, promoter entities — Ashwin Ramesh Mittal, Riddhymic Technologies, Riddhymic Technoserve LLP and AM Family Private Trust — and shareholder Kumar Kantilal Mehta will offload their shares.

The company may consider a pre-IPO placement aggregating up to Rs 60 crore. If such placement is completed, the fresh issue size will be reduced.

The company proposes to utilise the proceeds of the fresh issue towards funding inorganic growth initiatives, working capital requirements, supporting product and IP initiatives, expansion of geographical footprint and for general corporate purposes. The focus of Course5 is to help organisations drive digital transformation using artificial intelligence (AI), analytics and insights. It is an independent digital, marketing and customer analytics company, with a deep understanding of the omnichannel customer journey.

Its clients include Lenovo, Colgate-Palmolive Company, American Regent, Inc (a member of the Daiichi Sanyo Group) and National Bank of Fujairah PJSC. The draft papers filing comes after the successful IPO of Latent View Analytics in 2021. Axis Capital and JM Financial are the book running lead managers to the issue.

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Nifty likely to gain 15%, Dec target at 20200: ICICI Bank, SBI, Maruti, Bata, other stocks may rally up to 42%

NSE Nifty 50 surged 24 per cent in CY21, significantly better than the returns it posted in the previous three years, said analysts at Axis Securities. The domestic brokerage firm also maintained its Nifty 50 target for December 2022 at 20,200, valuing it at 22x FY24E earnings. The target implies about 15% upside from current levels. Last year’s bull run was led by outperformance in the broader market.

Indian share markets were volatile in the last month of the calendar year 2021 marked by a weakness in the global market due to rising concerns over inflation and faster tapering. Nifty Midcap 100 and Nifty Smallcap 250 delivered 46 per cent and 62 per cent returns respectively in 2021, which stood superior to the previous years’ return as well. Analysts say that large cap stocks are likely to catch up in the near term.

Analysts say that any further increase in the Covid-19 caseload will be a short-term negative for the market. The near-term focus will be on the third quarter earnings of FY22 and Union Budget 2022. “The Union Budget 2022 is expected to be growth-oriented given the state election lined up in over five states in 2022. The consequent higher government spending will help the economy to gain further growth momentum,” analysts said.

Large, mid, small cap stocks to buy in CY2022
ICICI Bank: This large cap stock has a target price of Rs 975 apiece, an upside of 26 per cent from last close. Analysts said that higher loan growth, improving operating profits, and a strong provision buffer coupled with a strong deposit franchise will help the bank achieve ROAE/ROAA expansion over FY22-23E.

State Bank of India: SBI stock will have to jump 33.5 per cent from the last close to achieve the target of Rs 645 apiece pegged by the brokerage firm. It said that SBI continues to be the best play among PSU banks on the gradual recovery in the Indian economy given its healthy PCR, robust capitalization, a strong liability franchise, and an improved asset quality outlook.

Maruti Suzuki India: This consumer discretionary large cap stock has a target of Rs 8,500 apiece, implying a rally of 11.4 per cent from the previous close. The brokerage firm said that Maruti Suzuki India could emerge as the biggest beneficiary of demand recovery in the post-COVID period, considering its stronghold in the entry-level segment and a favorable product lifecycle.

Bajaj Auto: It will require an upside of 37 per cent, to hit the target of Rs 4,500 apiece pegged by the brokerage firm. “Bajaj Auto is well-placed to capitalize on demand normalisation and premiumisation trends in the 2W industry which should support profitability and operational performance going forward,” the brokerage firm said.

Federal Bank: The brokerage firm believes that the key positives for this midcap financial stock are increasing retail focus, strong fee income, adequate capitalization, and prudent provisioning. It has a target price of Rs 125, a rally of 41.32 per cent from last close.

Bata India: Axis Securities has given a target price of Rs 2,300 apiece, which implies a rally of 25 per cent from the previous day’s close. It believes that over the years, Bata India has consistently worked on building a cash efficient business driven by healthy operating cash flows, asset turns (8x), strong cash on the balance sheet (Rs 900 crore) and superior EBITDA margins than its peers.

Equitas Small Finance Bank: Equitas Small Finance Bank has a price target of Rs 78 apiece, an up move of 31.42 per cent. The brokerage believes that this smallcap stock is eligible for re-rating given its improving profitability, asset quality, and return ratios

Amber Enterprises India: Amber Enterprises India, a smallcap consumer discretionary stock, will rally 12 per cent to Rs 3,690 apiece. The brokerage firm expects Amber to register a revenue CAGR of 31% over FY21-24. “The company’s long-term outlook remains intact with demand recovery and encouraging growth in the underpenetrated domestic market,” it said.

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Sensex starts 2022 in firm grip of bulls, Nifty to find resistance near 17800-17850

Bulls dominated the first trading session of 2022, forcing Dalal Street higher. S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Bajaj Finance ended as the top Sensex gainer, up 3.5%, followed by Bajaj Finserv, ICICI Bank, and Axis Bank. On the other hand, Dr. Reddy’s was down 1.13%, accompanied by Mahindra & Mahindra, Tech Mahindra, and Nestle India. The Bank Nifty index was closed 2.65% higher at 36,421. Broader markets mirrored the up-move and India VIX jumped 1.42%.

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments –

“The index has marched forward gallantly and is all set to move up higher. As expected on Friday, we have achieved the target of 17600. We should now be headed to 17850 as the next level of resistance. Post that 18050 would be the next possible target for the Nifty. Since we are in positive terrain, any drop or intra day dip can be utilized to accumulate buy positions for higher targets.”

Rohit Singre, Senior Technical Analyst at LKP Securities –

“Index started a new year with a strong positive move as it closed at 17625 with gains of more than one & half percent and formed a strong bullish candle on the daily chart. On an immediate basis index has hurdle near 17650 zone if managed to given close above 17650 then we may see immediate change in trend from down to up and then next leg of move can be towards 18k mark, on the other hand support for nifty is coming near 17500-17440 zone also any dip near mentioned support zone can be fresh buying opportunity.”

Sachin Gupta, AVP, Research, Choice Broking –

“Technically, the nifty index moved above 50% Retracement Levels on a daily chart, which suggests a positive strength in the index. Moreover, the index has also settled above 50-days Simple Moving Averages. A momentum indicator RSI & MACD witnessed a positive crossover on the daily time frame. During the day, the index has also moved above the prior resistance of 17639.50 levels and made a high at 17646.65 levels. At present, the Index has support at 17500 levels while resistance at 17800 levels. On the other hand, Bank nifty has support at 36000 levels while resistance at 36900 levels.”

Vinod Nair, Head of Research at Geojit Financial Services –

“Domestic bourses kicked off the New Year on a strong footing supported by banking, auto and IT stocks, following positive cues from global markets. Auto stocks were in focus today as investors digested the mixed auto sales numbers amid the ongoing chip shortage. India’s Manufacturing PMI continued to be in the expansion zone at 55.5 in December supported by strong momentum in production and new orders, although the growth was slower on a sequential basis.”

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers-

“Indian markets opened on a positive note on the first trading day of the year despite mixed Asian market trade. During the afternoon session markets maintained their upward momentum and continued to trade in positive territory, following gains in auto, banking, and realty stocks. Healthy buying was observed in blue-chip stocks. Sentiments were upbeat as Finance Ministry said that Goods and Services Tax (GST) revenues grew 13 percent to over Rs 1.29 lakh crore in December 2021, as compared to Rs 1.15 lakh crore GST revenues in the same month last year, mainly due to pickup in economic activity and anti-evasion steps. However, traders overlooked reports that India’s manufacturing activity lost some momentum in December easing to a three-month low after hitting a 10 month high in November, amid fears that the rapidly spreading third wave of the Coronavirus (Covid-19) pandemic may hit consumer sentiment and output.”

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Dr Reddy’s, Sun Pharma shares rise a day after India approves COVID-19 vaccines for emergency use

Shares of pharmaceutical companies Sun Pharma, Dr. Reddy’s Laboratories and Divi’s Laboratories closed with gains on Wednesday and ranked amongst the top five gainers on the benchmark NSE Nifty 50 index. This comes a day India’s drug regulator sped up the country’s preparedness to battle the threat of new variants and approved two new vaccines and one drug. Dr Reddy’s stock price soared 1.88% while that of Divi’s Laboratories gained about 2.13% during the day’s trade on Dalal Street. Sun Pharma shares zoomed 3.4% on NSE’s Nifty 50.

The NIFTY Pharma Index, which gauges the performance of the pharmaceutical sector, rose 1.7% to end at 14,072.90 points. Laurus Labs was the top gainer on the index, jumping 3.59%, followed by Cadila Healthcare.

On Tuesday, the Central Drug Authority approved Serum Institute of India’s vaccine Covovax, Biological E’s jab Corbevax and anti COVID-19 pill Molnupiravir for emergency use. “All these approvals will further strengthen the global fight against the pandemic. Our Pharma Industries are an asset for the entire world,” Health minister Mansukh Mandaviya said in a tweet after the approval.

India’s pharmaceutical sector witnessed “robust growth” this year led by COVID-19 related drugs opportunity, brokerage firm ICICI Securities said in a note. In its outlook for 2022, ICICI Securities noted that the omicron variant can potentially affect growth, adding that the learnings from the first and second wave of COVID-19 should cushion some of the negative impact.

“Indian branded pharma market to grow at ~10-11% on a normalised base with additional benefit from COVID-19 related drugs opportunities,” the brokerage firm said in its outlook for the next year.

ICICI Securities has given a buy rating to both Dr Reddy’s and Sun Pharma with a target price of Rs. 5,534 and Rs. 959 apiece respectively.

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