Welspun Corp | CMP: Rs 280.80 | The scrip added over 13 percent last week. The company and its unit Nauyaan Shipyard Pvt Ltd secured some assets belonging to ABG Shipyard Ltd. The pipes manufacturer in an exchange filing said it has paid Rs 659 crore to secure assets belonging to ABG Shipyard which is undertaking an insolvency resolution plan. "We are now pleased to inform that the liquidator of ABG Shipyard Ltd has declared Welspun as a successful bidder...for the private sale of specified assets...under the provisions of the Insolvency & Bankruptcy Code (IBC)," it said in the filing. The company has received the sale certificate in terms of the IBC for transfer of the specified assets.
PAGE Industries | CMP: Rs 53078.15 | The share price was up eight percent in the week gone by. An uptick in consumer consumption and increase in fashion or brand consciousness is making consumers more aspirational and discerning. Going forward, the company expects that the growing urban women population and women corporate workforce present better growth opportunities. The management said tier two and three centres are also becoming an important marketplace for the company given the increased awareness of healthier lifestyle and availability of quality, functional innerwear and athleisurewear.
Hindustan Unilever | CMP: Rs 2682.05 | The stock added six percent last week. FMCG companies are betting big on the festival season by ramping up supply chains, investing in marketing campaigns, and lining up new packs. Managements are also expecting rural demand to make a robust comeback. A recent report by Bizom says India’s FMCG market increased six percent in value in August compared to July, reversing the past three months of consecutive decline. Global brokerage firm Nomura expects HUL’s volumes to grow by four to five percent in the second quarter of FY23. They have a "buy" rating on the stock with a target price of Rs 2,975. “We expect the company to benefit from demand uncoiling in out-of-home categories. And benefits of softening input cost will drive meaningful margin improvement from the third quarter,” it said. Macquarie has an "outperform" rating with a target of Rs 3,000. "Our channel checks suggest steady demand. The demand strength should sustain volume growth momentum. Downside risks to margins are limited," its analysts said in a note.
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