Auto resilience positive too; FY21/22/23e earnings up 4/2/2%; TP revised to Rs 320
Seasonal price hikes a key trigger to watch out for; outperformance to continue; SRCM and UTCEM top picks
Outlook for Ag exports is strong; best-in-class RoICs of >25% likely by FY23e with peak utilisation; ‘Buy’ retained with TP…
The company had net debt of Rs 29.8bn as on Sep ‘20, of which ~Rs 22bn pertains to pharma business.…
However, it would lead to large inventory gains, which would mean strong earnings growth for IOC even in Q3FY21E.
Fine on 3 subsidiaries may make it more difficult to turn around loss-making entities, besides impacting ESG score; Reduce retained
NHPC, the largest hydroelectric power generation company in India, has 7GW operational capacity split 98%/2% in favour of hydro/renewables, making…
FY21/22e PAT up 6/4.7% given recovery in exports; TP raised to Rs 900; Add retained
The same gives us comfort to lower our credit cost assumption for FY22E to 1.7% vs 2.2% in FY21E (still…
PFC would be eligible to pay up to 25% of net profit; investment thesis remains intact; ‘Buy’ maintained
FY22e EPS likely to go up by 6.5% due to the deal; ‘Buy’ retained with TP of Rs 400
Pricing tailwind to be an additional kicker; FY21/22e EPS up 58/24%; TP raised to Rs 155; ‘Buy’ retained
Strong positioning of Divis will help in monetising the growth opportunity in API and CRAMS space given its stellar execution…
Nestlé stock’s 43% out performance between Oct’18 – Sep’19 driven by volume growth-led valuation rerating, despite weak earnings, is a…
Mgmt expects IRR of 15% on new capacity; company likely to be debt-free by FY23e; ‘Buy’ retained with target price…
Every 5% rise in prices can raise EPS by c.2%; ‘Add’ retained with TP of Rs 560
Cap rate for GIC PE pact is attractive; consumption has picked up in Q3; ‘Buy’ retained with TP of Rs…
FY22e PAT up 1.5%; given recent spurt, downgraded to ‘Add’ with TP up to Rs 1,530
