Growth guidance for FY22 expects recovery in H2; FY22-23e EPS down 3-8% due to Covid wave; ‘Buy’ retained with TP…
FY21-23e EPS up 8-16% on better revenues & margins; TP raised to Rs 2,500 from Rs 1,320; upgraded to ‘Buy’
Margins should recover as volumes rise; long-term outlook is bright; FY23e EPS up 13%; TP raised to Rs 910
Pandemic clouds near-term outlook; FY22-23e EPS down 5-8%; ‘Hold’ maintained
Buffer provisions were a drag; estimates tweaked to factor in results and Covid surge; poised for re-rating in valuations; Buy…
Domestic revenues grew 10%; sharp rise in input prices a concern; Covid not expected to disrupt business
Higher ASPs and utilisations likely to boost Ebitda; TP for GRIL/HEG up to Rs 810/2,855
RIL expected to see 11% q-q Ebitda growth; GAIL to clock q-q PAT growth; valuations are attractive for P-LNG
Margins at a 5-year high; deal TCV of $9.2 bn augurs well for growth; FY22-23e EPS up 1-2%; TP revised…
4QFY21 results of financials will benefit from low base driving 108% rise in profit for banks, 30% VNB growth for…
Activity levels felt limited impact in March; OW on IT firms, UW on Fin; RIL, PGRD, Tata Steel among top…
This will reduce discount to HDFC Bank; performance to improve from FY22 onwards; TP up to Rs 780; Buy retained
But BPSL acquisition will up net debt by ~9%; deal provides firm footprint in eastern India; ‘Buy’ rating retained with…
Spike in Covid cases may not disrupt business; asset quality is holding up; valuations attractive; ‘Buy’ retained with TP of…
An investment in RIL’s O2C subsidiary could give Aramco an India footprint
Our channel checks had indicated that BJP is a strong contender to remain in power and the mention of waivers…
RBI’s review of digital platforms is in progress; valuations are reasonable; TP raised to Rs 1,860 from Rs 1,800; ‘Buy’…
We initiate coverage with a Buy rating and a price target of Rs 470 based on 3x Mar-23 adjusted PB.
