Grasim is likely to invest in the equity raise plan of Vodafone Idea Ltd (VIL) and Aditya Birla Capital Ltd (ABCL) as the management mentioned that it would likely maintain its stake in VIL and is unlikely to dilute its stak
Though the value creation will be curtailed, 30% fall in stock price over past 3 months offers comfort on valuations. Hence, we retain ‘add’ rating on the stock with revised target price of Rs 116 (15x FY20E).
Future Lifestyle Fashion’s (FLFL) Q2FY19 Ebitda (adjusted for start-up expenses of Rs 15mn in Lee Cooper Footwear) increased 18% y-o-y to Rs 1.23bn led by strong growth in high-margin power brands and better operating lever
Solar Industries (SOIL) reported an in-line print. Consolidated revenues grew 28% YoY to `5.21bn. Standalone revenues increased 42% YoY, while translation loss in overseas subsidiary lead to subdued growth.