Swedish buy will not affect debt position; ‘Buy’ maintained with revised TP of Rs 547
Company plans to use global technology for profitability; valuation is lowest among peers; ‘Hold’ maintained
30% rise in Ebitda expected in FY20e from AEL buy; outlook is bright in medium term; ‘Buy’ maintained.
evenues at top 5, top 6-10, top 11-20 and non-top-20 clients increased by 15.3%, 24.2%, 24.6% and 24.1% respectively in…
Players with strong annuity portfolio are to be preferred; ‘Buy’ on DLF, Oberoi Realty, Brigade and Prestige Estates.
Synergy with Aleris is underway; cyclicality in porfolio additions is a negative; ‘Reduce’ retained.
IOC’s 9MFY19 standalone EPS was down 33% y-o-y hit mainly by 30% y-o-y decline in reported and 20% y-o-y decline…
Institutional participation is expected to gradually pick up in commodity derivatives with channel education, marketing initiatives and introduction of commodity…
The company has started working on new products for Russia & CIS which would drive additional growth in this geography…
Acquisition of 14.6-mnte cements assets of CENT likely to be consummated by Q1FY20: Management sees potential to improve Ebitda/te of…
The company’s strategy is to expedite the execution, thereby improving the overall margins due to early completion. Adjusted for drop…
MACA India’s topline grew 15% y-o-y despite 2% y-o-y decline in production volumes of its key customers.
During the quarter, Redington MEA subsidiary undertook impairment of investment made in Arena to the tune of $10.2 m due…
Overseas subsidiary performance is expected to turn around which coupled with gradual improvement in domestic margins will enable improvement in…
Gross margin improved 170 bps q-o-q to 40.1% (still lower by 110 bps y-o-y) helped by price hikes taken in…
Loan growth remained healthy at 35% driven by non-wholesale lending which now constitutes 43% of the book, growing at 47%…
As a reminder, deal intake from the Blackstone channel was strong at $158 million in FY18, which is helping revenue…
FY19e earnings moderated to reflect 9MFY19 showing; ‘Hold’ maintained with TP revised to Rs 259 from Rs 273
