moneycontrol India Stock of the Day (August 2023)
moneycontrol India Stock of the Day (August 2023)
Mahanagar Gas, CSB Bank, Kajaria Ceramics, Fiem Industries, West Coast Paper Mills, Engineers India, Global Health (Medanta), Karur Vysya Bank, Varun Beverages, Repco Home Finance, AXIS Bank, etc.
moneycontrol is India's leading financial and business portal who does short (roughly 4 minute) Stock of the Day video pitches about Indian stock picks.
Indian stocks featured in their August Stock of the Day videos (from newest to oldest) and covered in this post include:
Mahanagar Gas; CSB Bank; Kajaria Ceramics; Fiem Industries; West Coast Paper Mills; Engineers India; Global Health Limited (Medanta); Karur Vysya Bank; Varun Beverages; Repco Home Finance; AXIS Bank; KEC International; NOCIL Ltd.; Coromandel International; GAIL; Sona BLW Precision Forgings; Relaxo Footwears; CMS Info Systems; HIL Ltd; CIPLA Ltd; & Dalmia Bharat
Many of these stocks have charts heading in the right direction in part due to these recent headlines:
India’s services PMI falls to 60.1 in August from 62.3 MoM (Mint) September 2023
Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010.
India's manufacturing PMI rises to a 3-month high of 58.6 in August (moneycontrol) September 2023
The manufacturing PMI has now spent 26 consecutive months above the key level of 50 that separates expansion and contraction in activity
And once again from our Monday post, a Tweet from a pro-China Twitter account:
Unlike the numbers coming out of China and most western countries at this point (which are probably all inflated), you can probably trust these Indian PMI numbers are reasonably accurate…
Getting back to Indian stocks and to make your life easier, this post includes:
A quick description of the stock pick with links to the IR page and stock quote(s) on Yahoo! Finance.
A link to any Wikipedia page (for what it might be worth…)
The title of the moneycontrol Stock of the Day and their summary of what makes the stock pick interesting.
The embedded video (again, they are usually 4 minutes long).
Forward or trailing P/E and dividend yields linked back to the Yahoo! Finance statistics page.
The latest long term technical chart linked back to Yahoo! Finance.
And as always, this post is provided for informational purposes only (and to make your life easier by providing you with relevant information, links, and charts). It does not constitute investment advice and/or a recommendation…
Mahanagar Gas
Mahanagar Gas (MGL) (NSE: MGL / BOM: 539957) is one of the India's leading natural gas distribution companies. GAIL (India) Limited (NSE: GAIL / BOM: 532155) (Maharatna Company of Govt. of India) is the promoter of MGL.
Mahanagar Gas | Soft Gas Prices & Volume Growth to Lead to Earnings Growth | Stock Of The Day
Mahanagar gas has returned to its strong margin trajectory on the back of soft International gas prices, regulatory visibility on domestic gas price, steady growth in volume and large price differential between CNG & Petrol/Diesel.
Trailing P/E: 11.92 (no forward P/E) / Forward Annual Dividend Yield: 2.53% (Yahoo! Finance)
CSB Bank
CSB Bank (NSE: CSBBANK / BOM: 542867) was founded in November 1920 and is currently the oldest private sector bank in Kerala. Currently, the Bank has a client base of more than 2.15 million customers. With the intention of making the right proposition to the right customer at the right time, tailor made banking products have been designed to cater to the specific banking needs of various sections of the society. The Bank currently has four principal business areas, namely, (a) SME Banking, (b) Retail Banking, (c) Corporate Banking and (d)Treasury Operations.
Tie up arrangements have also been made with reputed companies for providing other financial products to our customers. For providing insurance solutions to customers, the Bank has tied up with Edelweiss Tokio Life Insurance, ICICI Prudential Life Insurance, HDFC Life Insurance (For Life Insurance), ICICI Lombard General Insurance, Reliance General Insurance, Go Digit General Insurance (For General Insurance) and Aditya Birla Health Insurance (For Health Insurance). International money transfer service and wealth management through mutual fund route is also made available to customers. The Bank has also joined hands with One Card and Master Card to launch a new co-branded credit card.
CSB Bank - Gold Loans Add Shine To Its Performance | Stock Of The Day
CSB Bank has staged a good comeback post capital infusion and change in the ownership with Fairfax becoming single largest shareholder in 2018. Backed by the strong parentage of Farifax group, more than adequate capital, relatively better asset quality and growth in gold loan portfolio, CSB bank delivered return on asset (ROA) around 2% and return on equity (ROE) of 20% in FY23. CSB bank has articulated its long-term vision as per which by FY 2030, bank’s loan portfolio will be well diversified with 20% in gold loans, 30% retail, 20% SME and 30% wholesale and other businesses. The bank plans to maintain over 45% of its advances in gold loan product over the near-to-medium term, and hence, most of benefits of gold loans will continue. The valuation looks attractive given the return ratios and huge growth potential on a small balance sheet.
Trailing P/E: 9.74 (no forward P/E) / Forward Annual Dividend Yield: N/A (Yahoo! Finance)
