Private insurance players see strong growth in August

Private insurance players sustained strong growth momentum in August— individual APE grew ~29%, while LIC grew at a softer 9% y-o-y.

private insurance firm growth, growth in insurance sector, insurance sector growth News

On Bajaj Electricals, here is what Edelweiss has to say

There are 100,000 RREP outlets, which account for around 60% of BJE’s outlets. It has been rolled out in 240 of 400 districts.

Bajaj Electricals, Bajaj, Edelweiss, RREP, BJE’s outlets, Revenue guidance, GST, EPC segment, BJE  News

Edelweiss says Hold DLF as sale of DCCDC equity to slash net debt

However, this will reduce NAV/share by 5-11%; with DLF’s residential operations slow and Gurugram market sluggish, maintain ‘Hold’.

DLF, DCCDL, DLF promoters, GIC Singapore News

Edelweiss maintains Buy on Eicher Motors, pegs TP at Rs 34,891

Our recent meeting with Lalit Malik, CFO, Eicher Motors (EIM), reinforces our confidence in the company’s long-term prospects.

Eicher Motors, CFO, Lalit Malik, EIM News

Reliance Industries, IGL, IOCL are Edelweiss top picks in oil and gas sector

The oil & gas sector remained a bright spot in an otherwise subdued quarter for the overall market, reporting 3% y-o-y PAT growth (ex-OMCs) versus 4% decline for NIFTY.

Oil and gas, NIFTY, PAT growth, IGL, GGL, CGD News

Essel Propack performance to bounce back: Edelweiss

Essel Propack’s (EPL) consolidated Q1FY18 revenue at `560 crore rose 6% with 12.3% y-o-y constant currency growth. AMESA growth was muted despite strong performance in Egypt.

Essel Propack, GST, Edelweiss, EBIT, EBITDA News

DLF stock rated HOLD by Edelweiss as operational issues cast shadow on Q1

DLF’s Q1FY18 residential new sales were severely impacted as beginning May 2017 it had halted sales across projects citing RERA compliance.

Markets News

Buy on Deepak Fertilizers shares retained by Edelweiss, TP hiked to Rs 43

Deepak Fertiliser’s Q1FY18 consolidated sales, at Rs 12.8 billion, 20% plus y-o-y, surpassed estimates, but PAT of Rs 374 million, -17% y-o-y, disappointed owing to decline in chemical profitability.

Deepak Fertiliser, Deepak Fertiliser shares, Deepak Fertiliser ratings, Deepak Fertilizer, Deepak Fertiliser edelweiss, Deepak Fertiliser edelweiss ratings News

Cipla stock rated ‘Hold’ by Edelweiss, says macro environment challenging

Cipla’s Q1FY18 revenue fell 3% y-o-y due to 13% dip in India business, where GST-led inventory destocking impacted revenue.

Cipla, Cipla news, Cipla latest news, Cipla ratings, Cipla edelweiss ratings, edelweiss ratings News

Sun TV shares: Edelweiss maintains ‘Buy’ rating with Rs 1,024 target price

Key positives: ~29.7% y-o-y spurt in cable subscription aided by catch-up revenue; 9.4% y-o-y jump in DTH subscription; and IPL losses were stable at Rs 224, Rs 241 million in FY17, even though Sun TV lost the IPL series in F

Sun TV shares, Sun TV, Edelweiss, Buy rating, DTH subscription, IPL losses, phase-III digitisation, south markets, Star Vijay, Digitisation, Sun TV’s market share News

Whirlpool rated ‘Buy’, passes GST hurdle

Whirlpool of India posted in-line Q1FY18 numbers with 15% and 11% revenue and Ebitda spurt.

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SRF stock: Edelweiss rates ‘hold’ as chemical business is slower; TP Rs 1598

SRF posted another disappointing quarter with Q1FY18 revenue/ EBITDA/ PAT declining 6%/32%/37% y-o-y to Rs 12.9/2/1 billion on poor performance by chemical segment.

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ICRA’s Q1 revenue dips 20 pct due to sale of IT business: Edelweiss

ICRA’s Q1FY18 revenue dipped 20% due to sale of IT business; excluding which, revenue grew 5%. Ratings segment jumped a strong 9%, led by robust 17% surge in the profitable debt segment and negligible exposure to the SME se

icra, icra rating, icra q1 profits, icra revenue dips, Edelweiss News

Thermax stock: Edelweiss recommends ‘reduce’ with target price of Rs 600

Thermax (TMX) posted tepid Q1FY18 numbers due to top line disruption and weak operating margin.

Thermax stock, Thermax stock rating, Thermax stock bse, Thermax stock Edelweiss rating, Edelweiss Target price News

Nagarjuna Construction rated BUY by Edelweiss

Nagarjuna Construction (NCC) reported 6% y-o-y top-line growth for Q1FY18 to Rs 20.1 billion against estimated Rs 19.8 billion. With EBITDA margin declining ~20bps y-o-y, adjusted PAT at Rs 510 million dipped 2.5% y-o-y.

NCC buy, NCC rating, Edelweiss rating ncc, Edelweiss news, Edeleiss ncc News

Fortis gets BUY rating by Edelweiss

Fortis Healthcare rebounded with good Q1FY18 numbers post being impacted by demonetisation in previous quarter.

Industry News

Resilient showing: Siemens reported 22% revenue growth for Q3FY17

For 9MFY17, SIEM’s order intake grew 25% led by certain big ticket size contracts.

Industry News

Bharat Electronics gets BUY rating by Edelweiss due to high growth trajectory

BEL expected to post ~19% revenue CAGR over FY17/19; earnings estimates for FY18/19e up ~2.5/4% owing to execution surprise.

Industry News

Edelweiss on PNB: Maintain ‘buy’ with target price of Rs 180

Punjab National Bank’s (PNB) Q1FY18 PAT at Rs 3.4 billion surpassed estimate due to higher treasury income.

Banking & Finance News

Retain ‘buy’ on Tech Mahindra with revised TP of Rs 546

Tech Mahindra’s Q1FY18 revenue at $1,138 million, up 0.6% q-o-q, down 0.6% CC and margin at 12.7% were ahead of Street’s estimates on account of improvement in efficiency and LCC.

Tech Mahindra, LCC stabilising, TECHM, Tech Mahindra’s Q1FY18 revenue News

Hero Motocorp stock gets HOLD rating from Edelweiss, says price hikes boost margins

While Hero should gain from rural demand revival, structural concerns persist due to demand shifting to scooters and premium bikes

Hero Motocorp, Hero Motocorp  stock, Edelweiss, HMCL, GST impact, Maestro Edge scooter, LEAP programme News

ITC shares rated ‘Hold’ by Edelweiss with Rs 304 target price

ITC’s Q1FY18 revenue dip of 1% y-o-y and EBITDA & PAT growth of 6.2% and 7.4% y-o-y, respectively, came in line with our estimates. Amidst GST-related destocking, cigarette and FMCG businesses clocked decent growth.

ITC shares, ITC stocks, ITC, EBITDA, PAT growth, ST-related destocking, FMCG sales, packaged foods, Aashirvaad, Sunfeast, Yippee!, SOTP News

Just Dial stock rated ‘Reduce’ by Edelweiss, says Google rivalry will be costly

Just Dial’s reported revenue of Rs 1.9 bn for Q1FY18 moved up 7.8% y-o-y versus Street’s 6.6% estimate, as JD hiked prices in certain cities. Ebitda margin fell by 60 bps q-o-q to 17.1%, but surpassed Street’s 15.7% est

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Maintain ‘hold’ on Crisil with target price of Rs 2,068

Crisil’s 8.6% y-o-y revenue and 13.4% EBITDA growth in Q2CY17 came below estimates due to miss in research segment.

hold, Crisil News

MCX of India stock rating: Edelweiss says ‘Buy’ as signs of green shoots augur well

Initial signs of operating leverage benefits were visible in Q1FY18 and benefits will be more prominent when volumes see an uptick in FY19. Volumes can possibly grow upwards of 30% in FY19, leading to a spurt in earnings

MCX, India stock rating, Edelweiss, Buy News

Indraprastha Gas stock rated ‘Buy’ by Edelweiss, says Gurugram foray promising

Sustainable high-growth outlook; EPS CAGR of 14% estimated over FY17-20

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Edelweiss maintains ‘Buy’ on Havells India, pegs target price at Rs 564

Havells India missed Q1FY18 sales/ebitda by a huge margin— 22%/35% — due to multiple factors.

Edelweiss , Havells India News
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