Monday, 3 April 2023

Happy Homecoming For MS Dhoni-led CSK, Beat LSG By 12 Runs In IPL

Ruturaj Gaikwad, Devon Conway and Moeen Ali starred for Chennai Super Kings to help the team post a 12-run win over Lucknow Super Giants at their fortress -- the M A Chidambaram stadium -- in their opening home match of the ongoing IPL in Chennai on Monday. Gaikwad slammed his second successive fifty and shared 110 runs for the opening wicket with Conway (47 off 29) as CSK posted a commanding 217 for 7 after being sent into bat. Gaikwad, after his 92 in the opening game, smashed 57 off 31 with three fours and four sixes. Conway, who hit five boundaries and two hits over the fence, gave him good support.

And then Moeen Ali returned with fine figures of 4 for 26 from his overs to help CSK restict LSG to 205 for seven.

Late hitting by Nicholas Pooran (32 off 18 balls, 2x4s, 3x6s) and a furious opening assault by his fellow West Indian Kyle Mayers (53 off 22 balls, 8x4s, 2x6s) went in vain for LSG.

CSK captain Mahendra Singh Dhoni, back on home turf, made judicious use of the slow bowlers to ensure the team's first win in this year's IPL.

Veteran Moeen Ali accounted for the wickets of Mayers, LSG skipper K L Rahul, Krunal Pandya and Marcus Stoinis (21) to derail LSG's chase.

Pace bowlers Deepak Chahar (4-0-55-0) and Tushar Deshpande (4-0-45-2), who came in for Ambati Rayudu as Impact Player, bowled three wides and two no-balls in his opening over, in which he conceded 18 runs, disappointed.

The flamboyant Mayers and Rahul raised the team 50 in the fourth over.

Poor bowling by Chahar, Deshpande and Ben Stokes (1-0-18-0) didn't help CSK's cause as they leaked runs in the powerplay as LSG batters posted a strong riposte in pursuit of 218.

Mayers hit a second consecutive fifty to provide LSG a flying start even as Rahul played second fiddle. Having reached 79 in just 5.2 overs, Mayers fell against the run of play, attempting a big hit off Moeen Ali only to be caught in the deep by Conway.

LSG lost Deepak Hooda (2) and Rahul (20), both going for big shots, quickly to slip to 82 for 3 as Ali and Mitchell Santner got into the act.

Earlier, Dhoni smacked a 89-metre six and another to send the adoring Chepauk crowd into raptures.

A delirious crowd had their glimpse of 'Thala' (Dhoni) as he carted two big sixes before being dismissed going for a third off Mark Wood's bowling for 12 off 3 balls. The iconic CSK captain completed 5,000 runs in the IPL during his brief knock.

After the initial blitz by Gaikwad (57 off 37 balls, 3x4s, 4x6s) and Conway (47 off 29 balls, 5x4s, 2x6s), there were valuable contributions from Shivam Dube (27 off 16 balls, 1x4, 3x6s) and Ali (19).

Ambati Rayudu hit two sixes and an equal number of fours in his 14-ball 27 which slipped under the radar due to Dhoni's pyrotechnics.

Wood, who picked up five wickets in LSG's demolition of Delhi Capitals on Sunday, was not as effective and finished with 3 for 49 from his 4 overs.

LSG managed to put the brakes on the free-scoring CSK batters, thanks to a splendid spell by leg-spinner Ravi Bishnoi (3 for 28 in 4 overs) in the middle overs.

Sent in to bat, Gaikwad and Conway creamed 79 runs in the first six overs taking full advantage of the fielding restrictions.

The stylish Gaikwad continued his form from the season opener where he hammered 92 and in the New Zealand left-hander's company brought up the team's 100 in the eighth over.

Gaikwad made batting look so easy as he effortlessly lofted three sixes in Krishnappa Gowtham's opening over (5th of the innings). He continued to pile on the runs and a flick for a six off Wood underlined the supreme form he is in.

The CSK openers were on a roll and brought up the 100 in the eighth over as LSG bowlers appeared clueless.



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This Undervalued Stock Is Set To Declare Dividend In May 2023

Imagine you're planning a road trip with your friends. You're all excited and ready to go, but you quickly realize that if you don't have a clear plan for the trip, things could easily go wrong.

You need to know the exact route you're taking, where you'll be stopping along the way, and who's responsible for what.

People say unplanned trips are the best but I for one believe without a precise plan, you could get lost, forget important items, or miss out on fun activities.

In short, to get the work done effectively, you must have a precise set of instructions ready.

In a sense, the same can be said for how companies run.

Efficiently managed companies, with a clear sense of their goals and objectives, tend to perform better than others. This reflects in their numbers. And ultimately in shareholder returns as well.

Today, we want to highlight one such company which has had 3 rights issues and around 10 bonus shares in the past 35 years.

What's more, the company is set to announce a big dividend in May 2023.

These efforts show how focused the company has been on shareholder wealth creation.

The company is none other than…

# Castrol India

Castrol India, promoted by BP (British Petroleum), is one of the key lubricant manufacturers in India.

It's principally engaged in the business of manufacturing & marketing of automotive and industrial lubricants and related services.

The company's strong brand positioning and tie-up with major auto original equipment manufacturers (OEMs) allows it to command higher pricing power over its competitors. Castrol can be called as the price maker in the Indian automotive lubricant market.

The company has a sturdy balance sheet, along with steady profits and excellent return ratios. This makes it one of the safest plays in the oil and gas sector.

The company follows January to December financial year when reporting numbers.

Last month in February 2023, Castrol reported a flat growth in net profit at Rs 1.9 billion (bn).

Along with the results, the company's board also declared a final dividend of Rs 3.5 per share, which is in addition to the interim dividend of Rs 3 declared in August 2022.

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The company changed its face value from Rs 10 to Rs 5 in 2014

The final dividend will be paid out in May 2023 and the company has set 4 May 2023 as the record date.

At the current price, the total dividend of Rs 6.5 per share for CY23 results in a dividend yield of over 6%!

Growth prospects

India imports majority of its crude oil requirement. And companies like Castrol, that use crude as an input, remain vulnerable to the vagaries of international crude prices.

Plus, thanks to the high taxes levied by the state governments, the prices of petrol and diesel are significantly higher in India than in the neighboring countries.

Despite volatility in crude prices, Castrol India delivered one of its best performances in CY23.

The company said that price increases helped the company counter the impact of higher input costs in the past few quarters.

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However, the threat of rising oil prices and exchange rate concerns cannot be sidelined. Castrol imports majority of raw materials from outside and procurement prices from domestic sources are also determined on import price parity basis.

This means that apart from crude prices and availability of supply, the prices paid by the company vary as the exchange rate fluctuates.

For long, there weren't any clear plans as to how Castrol would focus more on the electric vehicle (EV) segment. Not anymore.

The company recently said that it is foraying into the automotive aftercare market and into service and maintenance market. 

By collaborating with OEMs which manufacture EVs, the company will help tackle the challenges in electric mobility space and support mechanics to get EV-ready.

According to the company's management, Castrol will spend around Rs 5 bn to set up a global battery R&D centre. The centre will focus on thermal management solutions for EV batteries and is expected to be ready by 2024.

Castrol's underperformance, a worrying concern…

Share price of Castrol India has remained in a range over the past couple of years…you could say its performance is relatable to boring stocks like Coal India or ITC for that matter.

As we highlighted above, there are certainly few concerns that have taken a toll on Castrol's share price.

In recent years, competition has picked pace in the sector with PSUs like IOC, BPCL and HPCL capturing market share.

That apart, there's the risk of EVs taking over which will impact Castrol's mainstream business.

Owing to these reasons and slow growth, Castrol shares have underperformed big time in the past five years.

Is Castrol's Underperformance Set to Change?

  

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While the Indian benchmark BSE Sensex has almost doubled over the last two years, investors in Castrol would have seen their investments barely move an inch. The stock price has remained flat.

Its five-year performance shows a marketcap erosion of over 40%.

This is a classic example of how a company with high return on equity (ROE) will not create value for shareholders if there is lack of earnings growth. In such cases, investors look forward to dividend payouts.

Castrol India has had a year or two of below par growth and fell out of favour.

However, if the past performance is decent, and the company is of great quality with good dividend payouts and also trading at a discount to its long-term average, it may end up giving good returns in the near term.

Castrol currently trades at a price to earnings (PE) multiple of 13.4 times and a price to book value (P/BV) multiple of 5.8 times. Castrol's five-year median PE stands at 28.4 and five year median P/BV is 17.3x.

ITC and Coal India too were underperforming big time…their stock performance became a meme fest for social media platforms. However, both these companies made hay while the sun was still shining…they emerged as the top performing largecap stocks of 2022 and caught up on the momentum.

Could Castrol India repeat such feat in 2023? We'll just have to wait and see…

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such.

This article is syndicated from Equitymaster.com



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Spoon spotted: Arizona Dairy Queen's big red spoon found

A giant red spoon that was stolen from an Arizona Dairy Queen and sparked a mystery on social media was found and it’s partly thanks to Pokémon GO

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Sunday, 2 April 2023

Kohli Becomes 1st Indian Cricketer Ever To Achieve This Massive IPL Feat

Virat Kohli looked in glorious form as the star batter scored a magnificent half-century to guide Royal Challengers Bangalore to victory over Mumbai Indians in the Indian Premier League (IPL) 2023 on Sunday. Kohli looked in stupendous form as he slammed 82 off just 49 deliveries with the help of six fours and five sixes. This was his 50th 50-plus score in IPL and he became the first Indian cricketer ever to achieve the impressive feat. Overall, Delhi Capitals opener David Warner tops the list with 60. Punjab Kings skipper Shikhar Dhawan is third on the overall list with 49. Kohli currently has 45 fifties and 5 hundreds to his name.

Kohli and Faf du Plessis dished out a chasing master-class with a 148-run opening partnership as RCB made a sensational start to their IPL campaign with a comprehensive eight-wicket victory.

Sent into bat, Tilak Varma smashed a scintillating 84 off 46 balls to single-handedly power MI to 171 for seven but Kohli and du Plessis made mockery of the total, slamming twin fifties as RCB romped home with as many as 22 balls to spare.

Chasing 172, Kohli (82 not out) and Du Plessis (73) produced an exhibition of sublime stroke-making, plundering 10 boundaries and as many maximums during their near-flawless 89-ball stand.

After du Plessis perished in the 15th over, Kohli completed the job, hitting a four and six off Arshad Khan to knock off the winning runs to hand MI their 11th consecutive defeat in their first match of the season.

MI brought in Jason Behrendorff in place of Suryakumar Yadav as their impact player but it didn't work as he and his new-ball partner Arshad were taken to the cleaners by Kohli and du Plessis, racking up 30 in three overs.

If Behrendorff was smacked for successive sixes by du Plessis, Kohli blasted a four and six off Jofra Archer after being dropped by the bowler in the first ball.

Veteran spinner Piyush Chawla was then introduced but du Plessis sent him across the extra cover, while Kohli pulled one across the midwicket off Archer as RCB scored 53 in six overs.

Cameron Green was then taken apart with du Plessis hitting two fours and a maximum. The skipper repeated the treatment to Hrithik Shokeen with two maximums to reach his fifty.

Kohli then whacked Chawla over long-on to bring up the team hundred before reaching his individual fifty in the 12th over.

Jason Behrendorff bled 16 runs in the next with du Plessis cracking a six and a four. Kohli then pulled Archer over deep square leg as runs kept coming thick and fast. MI picked up du Plessis and Dinesh Kartik (0) in the fag end but it was too late as Glenn Maxwell (12 not out off 3 balls) and Kohli finished off things in style.

Earlier, MI had a poor start but Varma, coming off a successful last season, held the innings together with a sensational knock.

RCB bowlers had reduced MI to 20 for three in 5.2 overs but Varma added 50 and 48 with Nehal Wadhera (21) and Arshad Khan (15 not out) for the fifth and eighth wickets respectively.

The 20-year-old decorated his knock with nine boundaries and four sixes.

Ishan Kishan smashed two fours before being removed by Mohammed Siraj with an outswinger, while Cameron Green was dismissed by Recce Topley, who took his first IPL wicket.

Rohit got a life when Siraj and Dinesh Kartik collided while going for the catch in the fifth over. However, the India skipper couldn't capitalise as Akash Deep induced an edge to reduce MI to 20 for 3 in 5.2 overs.

Varma then came to bat and slammed a big hit over long-on to take MI to 29 for three in the powerplay.

In the eighth over, Topley left the field after suffering a shoulder injury while diving to stop a boundary off Varma's bat.

Suryakumar Yadav, who has been in poor form, too perished after a start, hitting straight to Shahbaz Ahmed.

However, Varma continued to bat with confidence, reverse-sweeping Michael Bracewell for a four before hitting a six and four off Maxwell as 16 runs came off the 12th over.

Wadhera produced back-to-back maximums off Karn Sharma but the bowler had him caught by Kohli as MI slumped to 99 for five.

There was lot of expectations from Tim David but Karn Sharma cleaned him up when he tried to go for a big hit.

Du Plessis then produced a superb catch to get rid off Hrithik Shokeen as Harshal Patel got his first wicket of the season, leaving MI at 123 for 7 in 17.1 overs.

Varma, however, showed his temperament as he slammed Akash Deep over deep square leg for another maximum to reach his half century.

Siraj, who had figures of 3-0-5-1 after three overs, bowled the 19th over but he sent down five wides to stop Varma, who blasted two fours as MI reached 149 for seven following the 16-run over.

Varma then clobbered Harshal for two sixes and a four in the last over as 48 runs came in last 17 balls. 

(With PTI inputs)



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Police reform divides community where cop killed Black man

City leaders in Grand Rapids insist policing reforms and outreach to the Black community ensured protests following the killing of a Black motorist by a white police officer last April did not devolve into violence and destruction

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About 25 train cars derail in Montana, no injuries reported

Authorities say about 25 train cars have derailed in northwestern Montana

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Iowa’s Caitlin Clark is the AP women's Player of the Year after one of the greatest individual seasons in NCAA history

Iowa’s Caitlin Clark is the AP women's Player of the Year after one of the greatest individual seasons in NCAA history

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More oil producers join Saudis in announcing surprise production cuts, a total of 1.15 million barrels per day

More oil producers join Saudis in announcing surprise production cuts, a total of 1.15 million barrels per day

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IPL 2023: A Look At Updated Points Table After First Round Of Matches

Rajasthan Royals lead the Indian Premier League (IPL) 2023 table after the first round of matches thanks to their comprehensive victory over Sunrisers Hyderabad on Sunday. RR rode brilliant performances from Sanju Samson and Yuzvendra Chahal to guide RR to a 72-run win in Hyderabad. As a result, they have a brilliant net run rate of +3.6000. In second place, Lucknow Super Giants also have two points, but their net run rate is currently +2.500. Royal Challengers Bangalore (+1.981), Gujarat Titans (+0.514) and Punjab Kings (+0.438) complete the Top 5 in the points table, and they all have 2 points from one game. 

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The bottom half of the table has Kolkata Knight Riders in sixth position, Chennai Super Kings in seventh and Mumbai Indians in eighth with –1.981. Delhi Capitals are struggling at the ninth position but Sunrisers Hyderabad are last in the table with a disappointing net run rate of –3.600. 

Virat Kohli and Faf du Plessis dished out a chasing masterclass with a 148-run opening partnership as Royal Challengers Bangalore made a sensational start to their IPL campaign with a comprehensive eight-wicket demolition of Mumbai Indians in Bengaluru on Sunday.  

Sent into bat, Tilak Varma smashed a scintillating 84 off 46 balls to single-handedly power MI to 171 for seven but Kohli and du Plessis made mockery of the total, slamming twin fifties as RCB romped home with as many as 22 balls to spare.  

Chasing 172, Kohli (82 not out) and Du Plessis (73) produced an exhibition of sublime stroke-making, plundering 10 boundaries and as many maximums during their near flawless 89-ball stand. 

After du Plessis perished in the 15th over, Kohli completed the job, hitting a four and six off Arshad Khan to knock off the winning runs to hand MI their 11th consecutive defeat in their first match of the season. 

The second round of games will kick off with Chennai Super Kings vs Lucknow Super Giants on Monday. 

(With PTI inputs) 



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Saturday, 1 April 2023

Arizona man convicted of killing 4 people in Minnesota

An Arizona man was found guilty of killing four people in Minnesota and leaving their bodies in an SUV in Wisconsin

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Get it while it's hot: New Mexico boosts chile production

New Mexico produced more than 53,000 tons of its most famous crop during the last growing season, meaning more chile peppers found their way into salsas and onto dinner plates than the previous year

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Ukraine court orders house arrest for leading Orthodox priest accused by authorities of condoning Russia’s invasion

Ukraine court orders house arrest for leading Orthodox priest accused by authorities of condoning Russia’s invasion

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Kaley Cuoco has 1st child, a daughter, with Tom Pelphrey

Kaley Cuoco is flying high after giving birth to her first child

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