Overall our price targets for 5 top-tier companies rise by 2-10%, as a result of the changes.
UPLL has dipped 17% from its Jul’19 highs, post a sharp uptick of 70%+ from Oct’18 lows. Q1FY20, first full…
Auto stimulus fell short of providing a material boost; retails in the festive season are key in the near term.
Despite long-term vision, this can’t be good at a time liquidity flow is severely constrained
Risk aversion may take time to ease; HDFC/LICHF among HFCs and BAF/MMFS among NBFCs are preferable
Our FY20E EPS is well above consensus (factoring IBC recovery of ~ Rs 15,000 crore).
They may help little in the near-term but it is still encouraging to see the government engage on issues with…
With LICHF’s GNPA’s rising 80 bps to 1.98% over last year in Q1FY10 led by a sharp increase in developer…
ONGC’s standalone Q1FY20 net fell 4% y-o-y (+46% q-o-q) to Rs 59.04 bn. Lower other income and higher interest, survey…
EPS for FY20/21e down 4/3% owing to FX change; risk reward is favourable; ‘Buy’ retained with TP of Rs 520
Volumes were well ahead, though, with 4.21mt at Dahej and imports in July trending even higher, boding well for the…
FY20/21/22e EPS down 7.8/3.2/5.5% due to slower loan growth; valuations below historical average;‘Buy’retained.
Credit cost trajectory is intact; capital raising should aid NIMs; FY21-22e EPS cut by 6-8%; TP revised to `885
The near-term remains challenging; ‘Buy’ retained owing to more advanced PV down-cycle, lower BS-6 risks and strong franchise.
Given strong visibility for FY20-21e, company should stand out; risk-reward is favourable; ‘Buy’ maintained
Even as we expect TVS to continue outperforming the industry on both volume & Ebitda growth, we maintain Hold given…
FY20/21e Ebitda up 3/6%; risk-reward balanced post-correction; upgraded to ‘Hold’ with TP up to Rs 1,430.
Cibaca franchise has also done well during Q1.
