Earnings estimates for FY18-20 raised 15-30%; Upgraded to ‘Buy’; TP rises to Rs 1,600 from Rs 900 with rollover to Jan, 2018
DBEL reported volumes of 7.6mt for 1HFY18, up 6.3% y-o-y. Although volume growth was significantly lower compared with c20% y-o-y growth in FY16 and FY17, industry outperformance continued.
Jubilant stock has had an impressive run this year, with the stock price nearly doubling year-to-date in 2017.
Wipro has outperformed peers within the BFSI vertical with double-digit revenue growth (14% y-o-y in 2Q18) and strong deal wins. The recovery in IT spending by some of its banking clients (for which Wipro has a larger presence) has helped growth acceleration.
Discussions on Motherson Sumi are often focused on the domestic wiring harness business, its larger subsidiaries SMP, SMR and now PKC. But it has a total of 134 subsidiaries and 6 joint ventures (JV).
Company confident of demand picking up; while it has ability to drive through tech cycles, high base and valuations limit upside.
Business momentum on the retail side remained strong for Phoenix Mills’ main malls with overall consumption growing by 19% (partly benefiting from pre-GST sales) and rental income by 17%.
FY18/19 Ebitda estimates down 11/7%; valuation too high vis-a-vis past record
India’s car industry appears to be at an inflection point. Car sales tend to accelerate after the penetration rate passes 20-25 cars per 1,000 people – the point where India is now.
The Aditya Birla Group will hold the rights to acquire an additional 9.5% stake from Vodafone within 3 years post completion.
In a recent earnings call, the company’s management indicated that its working capital will look stretched at FY18-end.
The media regulator has is- sued draft tariff guidelines that will be applicable from April 2017 onwards.
We expect Maruti to report a strong Q2, reporting margin expansion of 90-100 bps q-o-q. While YEN is adverse, the impact will not be significant and more than offset by operating-leverage, pricing increase and better mix. (i) YEN appreciated in the quarter by 4% on average.
Q2FY17 is likely to be a better quarter for banks compared to the past three quarters, given two main drivers—the rally in bonds and slower monetary transmission.
New banks are a rare breed in India. IDFC Bank (IDFCBK), carved out of its parent, infrastructure lender IDFC Ltd, a year ago, starts life with a distinct set of advantages and disadvantages.
What the implications of growing acceptance/prospects of EVs (Electric vehicles) on JLR are is one of the most frequent questions we hear from investors.
In our view the market seems to be pricing an accelerated deployment of 4G by incumbent telcos post Jio 4G rollout early this month.
What are the implications of growing acceptance / prospects of EVs (Electric vehicles) on JLR is one of the most frequent questions we hear from investors.
Companies with emerging focus on chronic therapies are likely to sustain India growth; lower US exposure limits US FDA risk.
While acquiring the right to operate at Abbot Point Coal terminal represents a risk-free profit stream without capital investment, it is unlikely to add to ADSEZ’s profits significantly in the near to medium term
The wireless business of RCom is to be combined with Aircel, according to a press release by the companies on 14 September 2016.
The battle has gone rural for Hero MotoCorp and Honda Motorcycles & Scooters
The most compelling competitive strength of Maruti is its extensive portfolio of products
After the sharp run in stock price, the current valuation multiple implies long-term annualised earnings growth expectation of c13-14%, which in our view is significantly high if not excessive and limits upside.
Suzlon management expects industry installations to grow 30% during FY17 to 4.3GW with Andhra Pradesh-Telangana, Gujarat and Karnataka being the prime drivers.
The RBI has now allowed banks to increase PCE for corporate bond issuance from 20% to 50% of the bond issue size, subject to a 20% limit for a single bank. This can enhance the bond market for lower rated paper.
Volume growth trajectory stepped up, which is in contrast to the demand picture on average for the rest of the staples and also alleviated concerns that Patanjali has been able to impair volume growth in Colgate’s case and as a result, Colgate reported an increase in market sharegs….