Prozone Intu Properties Ltd, Ramco Systems Ltd, Setco Automotive Ltd and Ugar Sugar Works Ltd are among the other gainers in the BSE’s ‘B’ group today, 28 November 2022.

Damodar Industries Ltd leads gainers in ‘B’ group

Setco Automotive reports consolidated net loss of Rs 136.38 crore in the September 2021 quarter

Setco Automotive reports standalone net loss of Rs 75.71 crore in the September 2021 quarter

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

Top stocks in focus: Setco Automotive, Liberty Shoes, Power Finance Corporation, LIC Housing Finance, Jindal Steel & Power

IndiaRF to invest upto Rs 615 cr in Setco Group. Setco Automotive Ltd will transfer its clutch manufacturing business into Setco Auto Systems Pvt Ltd. While the company is in the middle of the transaction; Harish Sheth, Chairman and MD Setco Automotive joins ET NOW to help us understand the key rationale behind this transaction. The said transaction is a combination of Debt and Equity. IndiaRF to invest in SASPL through a senior debt facility for a 35% equity stake.  “Looking forward to very good partnership and growth” says Harish Sheth. The proceeds will be used to settle with lenders, infuse growth capital and fund its working capital needs. Setco Auto Systems Pvt Ltd is a leading maker of clutches for medium and heavy CV. The company recently diversified into manufacturing clutches for tractors. Looking at the current market construct, he sees huge after market demand and increased tractor supply to fuel the rural demand.
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Looking at substantial growth in coming years; Harish Sheth, SETCO

The Union cabinet may meet today to discuss a relief package for the troubled telecom sector, according to multiple media reports citing people with knowledge of the matter.

Stocks to Watch: Embassy REIT, multiplex scrips, LIC Housing, Setco Automotive

The transaction will be carried out in a two-step process with Setco Automotive Ltd (Setco) transferring its clutch business into its subsidiary Setco Auto Systems Pvt Ltd (SASPL).

IndiaRF To Invest Rs 615 Crore In Auto Components Major Setco Group

Setco Automotive will transfer its clutch business into a subsidiary, Setco Auto Systems into which IndiaRF will invest through a senior debt facility and 35 per cent equity stake in SASPL.

Piramal- Bain fund invests Rs 615 crore in auto component company

As part of the transaction, Setco Automotive Limited (Setco) will transfer its clutch business into a subsidiary, Setco Auto Systems Private Limited (SASPL), into which IndiaRF will invest through a senior debt facility and 35% equity stake in SASPL, said a company statement.

India Resurgence Fund invests Rs 615 crore in Setco Group

The stock aggregating to Rs3703 lakhs (net of scrap value) is written back and shown under the head “Exceptional Items”, the company said.

Setco Automotive to hold large inventory of Clutch components

The company has entered into a Business Transfer Agreement dated August 31, 2021, with its subsidiary, Setco Auto Systems for such sale.

Setco Automotive to sell clutch business on slump sale basis

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

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

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Setco Automotive Limited is engaged in the manufacture of clutches for medium and heavy commercial vehicles in Auto Components segments.