FY20-22e EPS up 5-9% due to corporate tax cut; near-term could be somewhat patchy; TP revised to Rs. 2,510.

UPL mgmt is confident of achieving FY20e outlook at 8-10% sales, 16-20% EBITDA growth and debt reduction of Rs 3,150-3,500…

Tech Mahindra’s 2Q results were well ahead of our estimate as both revenue growth (4.1% Q-o-Q cc vs expectation of…

While we expected losses in the standalone business given sharp 45% y-o-y decline in overall volumes and 59% decline in…

HCL Tech’s revenue growth of 6% q-o-q cc was lower than our estimate of 7.1% due to lower revenue recognition…

We cut EPS by 1.3% for FY20 while largely maintaining our FY 21/22 estimate, trimming margins slightly while building a…

We expect competitive intensity to remain high for the postpaid/enterprise/home segment. We remain cautious on both Bharti and Voda-Idea.

Mix of non salaried HL (100 bps q-o-q) has edged higher, suggesting LICHF may be eyeing this segment to lift…

New business for Q2 grew 34% y-o-y, driven by non-par savings (+800% y-o-y), protection (+32%). Par-savings business was down 35%…

DMART continues to execute strongly in discount grocery retailing with cost leadership helped by strong efficiencies. We continue to expect…

Infosys also declared an interim dividend of `8/share with management indicating that dividend could be preferred over buy-backs going forward…

Indian pharma growth improved to 11.9% in September vs August: 9.5% as volume growth improved to c.3.5%. 2Q20 growth at…

Extent of cuts and ask rate for FY21e will be a surprise; MSIL downgraded to ‘Hold’; ‘Buy’ retained on M&M

Banks/AMCs have taken 30-50% MTM hit on bonds, so incremental provisioning needs should be small, but NPL provisions will come…

Demand weakness and tight liquidity warrant near-term caution; EPS for FY20/21/22e down 6/4/3%; TP cut to Rs 790

In this cycle, Bajaj started the trend with the launch of Pulsar Neon which was also priced at a significant…