Orders guidance could be cut to 0-2%; Q3 execution has been good; undemanding valuations; ‘Buy’ maintained
FY17-19 EPS estimates raised 17% and TP up to Rs 900 from Rs 625; top pick in consumer discretionary space.
LUpin’s facilities in Goa and Pithampur (Unit II) have been issued a combined warning letter (WL) by the US FDA.
FY19 will be the year of change; risk-reward is very favourable; upgraded to ‘Buy’ with revised TP of Rs 600.
We upgrade Bharat Forge (BFL) to Buy as we expect an improvement in its medium-term revenue growth trajectory.
July was a historic month for Indian equities, with total equity inflows (equity plus equity-linked savings schemes plus equity component…
Hero’s QvFY18 results were broadly in line with our and consensus estimates. Revenue, EBITDA, PAT were -1%/-2%/-3% vs. our forecasts.…
Mindtree’s June-Q results failed to meet expectations. While cc revenue growth of 1.2% was soft, what was most disappointing was…
Sales/earnings estimates for FY18 up 4/5% to factor in Sevelamer gains; strong approvals to drive growth
Since general poll, domestic institutional inflows have reduced vulnerability to FII selling; such liquidity could stretch valuations.
Earnings estimates lowered as treasury gains could fall due to a sharp rise in bond yields
Apart from demonetisation, key discussions centred on asset quality.
Indraprastha Gas (IGL) has appreciated by 63% YTD, driven by an improved earnings outlook and stock re-rating. We raise FY17-18E…
QIP setback a temporary one; with Tier 1 capital of 10.3 % and RoEs at 20%, Yes Bank is positioned…
On fundamentals, we see the Indian Cement sector poised for earnings recovery as: the industry (barring East region) has minimal…
While Q1 results were in line with estimates, gains from new models/FX should step up in coming quarters, with weakening…
Prospects look stronger than ever, with 7th Pay panel payout and rural electrification likely to fuel demand
We expect a cyclical upturn in FY2016-19 after poor revenue growth in FY2016.
