Broker’s Call: Electrosteel Castings (Buy)

Electrosteel Castings consolidated net profit rises 67.45% in the March 2022 quarter

Asian Paints, Cipla, Vodafone Idea, Gujarat Gas, Ajanta Pharma, Cera Sanitaryware, Chalet, Electrosteel Castings, Kansai Nerolac Paints, Max Financial Services, Mahanagar Gas, Reliance Capital, Torrent Power are among the companies due to announce quarterly results today

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ESL said that since DRT, Chennai has reserved its judgement, the National Company Law Tribunal (NCLT) proceedings initiated by UVA should be deferred till the former pronounces its judgment on April 8.

Supreme Court rejects Vedanta-led Electrosteel Castings’s plea in insolvency case | The Financial Express

Hindusthan National Glass & Industries Ltd, Electrosteel Castings Ltd, Menon Bearings Ltd and Chembond Chemicals Ltd are among the other losers in the BSE’s ‘B’ group today, 20 January 2022.

PTC India Financial Services Ltd leads losers in ‘B’ group

Post allotment of shares, the paid up equity share capital of the company stands increased to Rs 59,46,05,247 comprising of 59,46,05,247 equity shares of Re 1 each.

Electrosteel Castings allots 16.16 cr equity shares under scheme of amalgamation

Electrosteel Castings fixes record date for scheme of amalgamation

The corresponding order of the NCLT, Cuttack Bench in relation to Electrosteel Castings, is awaited, the company said.

Srikalahasthi Pipes soars ~4% after NCLT Amravati approves its Scheme of Amalgamation with Electrosteel Castings

The rating on long-term loan was upgraded to IND A+/Stable from an earlier rating of IND A/RWP.

Ind-Ra upgrades ratings for debt instruments of Electrosteel Castings; Stock gains 1.5%

Final consent of NCLT, Cuttack Bench and NCLT, Amravati Bench sanctioning the proposed Scheme is pending which will be received shortly for completion of the Merger process, Electrosteel Castings added.

Electrosteel Castings updates on amalgamation of Srikalahasthi Pipes; stock ends lower

Electrosteel Castings update on scheme of amalgamation

Price return has been average, nothing exciting

Performance

Can be considered moderately valued vs the market

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Electrosteel Castings Limited is engaged in the business of manufacturing ductile iron (DI) pipes, and fittings and cast iron (CI) pipes. The Company provides techno-economic solutions for water supply and sewerage systems. 