Vardhman Textiles (VTL), for Q2FY19 on a consolidated basis, reported good numbers mainly on account of better operational performance. Ebitda grew 68% y-o-y to Rs 331 crore, with margins expanding by 666 bps to 19.6%.
Despite a strong growth in the India tractor industry, Swaraj Engines (SWE) reported a moderate volume growth. Considering stellar growth reported by M&M’s tractor division, this performance was below our estimates.
The most frequent question these days is whether we are in a bull market or in a bear market. It is natural to hear this question after the spectacular market fall towards the end of financial year 2017-18, bringing back unpl
Ahluwalia Contracts (India) (ACIL), for Q3FY18, reported decent numbers. Revenue grew 1% y-o-y to Rs 361 crore, growth was muted on the back of GST impact (adjusting for the same, revenue would have been up by 9-10%).
We upgrade Marksans Pharma (MPL) to Buy from Hold rating with a TP of Rs 55 (earlier Rs 45) based on 18x March’20E EPS of Rs 3.0. MPL’s Q3FY18 revenues and EBIDTA were lower than our expectations but net profit was in-lin
Star Cement delivered 4th consecutive quarter of robust profit, as its EBITDA/PAT shot up 60%/173% Y-o-Y. This is led by stability of robust pricing and Star’s sales recovery in NE region, lower sales outside NE region and
We retain our Hold rating on Oriental Carbon & Chemicals (OCCL) with a revised TP of Rs 1,105. Q2 performance was subdued and trailed our estimates due to lower than expected volumes as ramp-up at Mundra remained slow yet ste