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
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
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
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
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.