While matured hospitals (41% of sales) and pharmacy business (40%) are expected to see steady growth with gradual margin expansion,…

REIT’s prospects make for a compelling investment case; rating revised to ‘Add’.

Asset quality issues likely to recede in FY21; estimates revised due to fund raise with TP rising to Rs 470

In the past (5 years ago), the company had put similar deal team but failed to accelerate the momentum due…

India (~45% of sales) — expects double-digit growth and PCPM^ to improve led by new launches (CVS —Ticagrelor in November…

FY20/21e EPS cut by ~9% each; TP down to Rs 1,630; downgraded to ‘Reduce’ given high valuations and weak demand…

FY20/21e Ebitda tweaked to factor in adverse macro; medium term prospects are good; ‘Buy’ retained

Page Q2FY20 print was a mixed bag with a modest beat in revenue (up 12%, 6% ahead our estimate) and…

We reduce FY20e/21e EPS to Rs 12/14 (Rs 15/17 earlier) as we cut aluminum/ copper/zinc assumption by 3%/2%/2% for each…

We increase our target FY21e multiple for India business to 6x from 5.5x to upgrade the valuation to historical mean…

H2FY20 guidance reduced; FY20-21e EPS down 10-11% due to core jewellery business outlook; TP cut to Rs. 1,150.

FY20/21e EPS reduced by 17/8% owing to weak margin; TP revised to Rs 2,900; ‘Add’ maintained due to earnings outlook

Gruh merger will add value; TP raised to `690 factoring in a diversified loan book, RoA and asset quality.

H2 is expected to be better; TP cut to `575; a good bet in long term; ‘Buy’ retained

Under-construction projects to add Rs 4.6 bn to rentals over next 12-15 months. 2.5 msf of Cyber Park to commence…

Q2 should be better than Q1; investments likely to weigh on FY20-21 margins; 2.1/3.5% cut in FY20/21e EPS; TP revised…

The management expects RoCE profile across these screens (over 3-5 years) to be largely in sync with PVR as lower…