Estimates down 5-6% to bake in lower volumes and margins; TP revised to Rs 380.
Titan delivered another strong quarter led by jewellery (revenue up 21%, adj. Ebit up 21%, adj. margin at 13.8%) and…
Q1CY19 PAT at Rs 1.16 bn, up 13% y-o-y, beat our/consensus estimate by 13/12%. Beat was led by (1) strong…
Zinc prices are likely to stay muted; FY20/21e EPS cut to Rs 22/24; TP revised to Rs 285; ‘Reduce’ maintained.
Q1CY19 consolidated revenue beat expectations on strong growth (against industry production) at both India and Europe operations.
Share of affordable housing loans in HFC stood at 13.1% of book (10.8% in Q3FY19). Margins for both lending businesses…
Headline asset quality improved, but lumpy exposures like IL&FS (Rs 18 bn) and Supertech (Rs 8 bn) remain standard and…
Despite flattish GM and 60 bps YoY dip in A&P, domestic EBITDA margin contracted 260 bps YoY to 24.6% dragged…
While Peg-filgrastim is tracking well, we reduce our Trastuzumab market share assumptions (as we expect slower ramp-up) and factor in…
CUMI has compounded at 18% per annum for the last 10 years and the stock price can double in four…
While batteries have less to gain from the upcoming safety and emission norms, it will relatively outperform the industry in…
(a) New business premium (NBP) growth was lower at 14.8 y-o-y, primarily on account of lower growth of 13.7% y-o-y…
A host of positives are likely to boost prospects; TP up to Rs 780 from Rs 725
Q1 guidance weak though share buyback will restrict downside; ‘Reduce’ retained with revised TP of Rs 270.
Concerns over surge in crude prices and drag from capacity additions are overdone; ‘Add’ retained.
Our estimates & TP of Rs 1,550 remain unchanged; we have ‘Add’ rating on the stock. The stock has corrected…
Top developers in NCR and Mumbai likely to gain more than those in Bengaluru and other key cities.
Outlook is good owing to a host of positives; RoE of 21% is estimated over next two years; ‘Buy’ maintained.
