Axis Capital

Analyst Corner: ‘Hold’ on Indraprastha Gas with unchanged target price of Rs 265

The Q2 EBITDA for Indraprastha Gas at Rs 3.1 bn was in line with our/street estimate and PAT at Rs 1.9 bn was 3% beat on our estimate (-3% vs. street) on higher other income.

Markets News

Analyst corner: Maintain ‘hold’ on Godrej Properties, valuations rich

Given the strong balance sheet (net D/E at 0.7x), GPL is well-positioned to capitalize on industry consolidation that is expected to accelerate in wake of ongoing NBFC liquidity crisis.

Markets News

Canara Bank rating ‘Hold’: Quarter results were a mixed bag

Q2FY19 PAT at Rs 3 bn (up 15.1% y-o-y) was higher than expected primarily due to tax reversal (`8.1 bn); else, the bank would have reported a loss. NII growth was healthy at 17.9% y-o-y (on favourable base) driven by improved

Markets News

Analyst Corner: ‘Hold’on NTPC; coal shortage will dampen core RoE

Despite 10% y-o-y rise in regulated equity, H1FY19 adj. PAT at Rs 51 bn was flat y-o-y on under-recovery due to (a) coal shortage at newly-commissioned high-cost plants (Rs 5 bn), (b) plant outage at Unchahar due to fire acci

mt[c, coal sector, coal industry News

Analyst Corner: ‘Buy’on Tata Power; firm upbeat on renewable space

TPWR’s Q2 adj. PAT at `3.7 bn was in line with our/street estimates.

Markets News

Analyst Corner: ‘Hold’on KMB; stake dilution remains near-term overhang

Q2FY19 PAT was in line at `11.4 bn (up 15% y-o-y) with marginal improvement in headline asset quality (GNPAs at 2.15%, down 2 bps q-o-q and net NPAs at 0.81%, down 5 bps q-o-q).

Industry News

Havells India rating ‘hold’: Stable growth even as earnings slipped

Headline revenue growth of 23% y-o-y (7th consecutive quarter of 20%+ growth) with ex-Lloyd growth of 28% y-o-y was commendable.

HAVELLS, havells news, havells news today, news today News

ACC rating ‘Buy’: Negative operating leverage a dampener

Realisations hit by weak monsoon pricing; Ebitda/t is likely to rise in seasonally strong Q4CY18; ‘Buy’ retained

Markets News

Analyst Corner: Maintain ‘buy’ on Hero MotoCorp; TP at Rs 3,369

The second quarter was operationally in-line. On the call, management highlighted first 5 days of festive season have been subdued after the sudden increase in insurance costs, but it still expects overall festive retails to

Markets News

Analyst Corner ‘Sobha’: Expect collections to remain steady QoQ

Sobha continued to report strong volumes at 1 msf (up 20% YoY) in Q2 totalling Rs 7.4 bn (Sobha’s share at `6.2 bn).

Markets News

Voltas is the best bet in consumer durables space

Voltbek (Voltas-Arcelik JV) substantially improves Voltas’ right to win against entrenched players in key categories.

Industry News

Endurance Tech rated ‘Buy’ with a TP of Rs 1,690

Endurance enjoys high share of business (>80%) with Bajaj Auto and Royal Enfield (RE) – these are the only OEMs where it is supplying all its 4 products (casting, suspension, transmission and brakes).

Industry News

Aditya Birla Fashion rated ‘buy’; prospects are bright for the company

India is on the cusp of the $-2,000 GDP per capita mark that studies have shown leads to a disproportionate growth in the apparel market.

Industry News

Reiterate ‘buy’ with raised TP of Rs 440 on GAIL India

PNGRB’s tariff hikes for GAIL’s 4 pipelines (18% of gas transmission volumes) were much anticipated and will increase blended tariff for its gas transmission business by 15% y-o-y in FY19.

GAIL India, HVJ-DVPL, DVPL II, Mumbai pipelines, gas-based fertiliser plants, CGD flourishes News

Infosys’ move to acquire Fluido positive, retain ‘Buy’

Infosys has signed a definitive agreement to acquire Fluido, a Salesforce advisor and consulting partner in Nordics.

Industry News

Analyst corner: TechM’s earnings upgrade to continue in FY19

Management expects vertical to deliver mid-single digit growth in FY19E (implying 5%+ CQGR over Q2-Q4FY19), accelerating to low double digit in FY20.

Industry News

Crompton Greaves rated ‘Buy’; market strategy likely to boost share of pie

Stock’s cheap valuations are expected to go up; upgraded to ‘Buy’ with TP of Rs 243.

Industry News

Execution will be key to sustainable growth

Prospects for the long-term are healthy; needs tie-ups with field experts for new initiatives; ‘Hold’ retained

Container Corp, concor, RTH, MMLP, JNPT volume, Coastal shipping News

Reiterate ‘buy’ for M&M, target price at Rs 1,075

We attended the launch event of M&M’s new MPV — the Marazzo — in Nashik. In most aspects, the product is a huge step-up from Mahindra’s offerings.

M&M, target price, Marazzo, Mahindra, Toyota Innova Crysta, Maruti Ertiga, market, money News

Maintain ‘hold’ with TP of Rs 197 for Power Grid Corp

Key takeaways from our recent meeting with PGCIL’s management: (1) Order book could double — visibility can improve substantially if PGCIL receives Rs 500-600 bn projects on nomination basis (cost-plus) to link 7-8 GW of

Markets News

Retain ‘buy’ on Dabur India, target price revised to Rs 550

Underlying confidence on delivering double-digit volume growth for remaining M9FY19 was high led by rural-led demand uptick.

Industry News

Maruti Suzuki India Rating: Buy, Q1 Story intact despite operational miss

Volume outlook remains strong; earnings CAGR of 22% estimated over FY18-20; ‘Buy’ retained with TP revised to Rs 11,187.

Industry News

Analyst Corner: Maintain ‘buy’ on Jubilant Foodworks with TP at Rs 1,600

Jubilant Foodworks continued its strong momentum into FY19 delivering another quarter of beat led by positive surprise in SSSG (up 26% year-on-year).

Markets News

Kotak Mahindra Bank Rating: Core income was a disappointment

Franchise is improving; a host of negatives make stock an expensive bet at current levels; ‘Hold’ maintained.

Markets News

Analyst Corner: Reiterate ‘hold’ on HCL Tech with TP of Rs 1,000

HCL Tech’s board has approved the proposal to buy back up to 36.4 million equity shares for an aggregate amount not exceeding Rs 4,000 crore, i.e, 2.6% of total paid-up equity share capital, at Rs 1,100 per share.

Industry News

Strong earnings expected on reported basis

Staples likely to outperform discretionary pack; revenue and Ebitda/PAT growth of 12% and 20-22% expected

CAGR, GST, GST anniversarisation, Ebitda, PAT growt, GCPL, Emami, GCPL News

Poised to tap fast growing market

Trades at discount to other players despite a host of positives; coverage initiated with ‘Buy’ and TP of Rs 1,020

Khadim India, Khadim India, footwear market, footwear retailers in India, Khadim trades, CAGR News
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