Pricing contribution remained steady at 5%, as did new product contribution at 2%. A majority of the corporates saw a…

In the Budget, the finance minister has announced a levy of 20% tax on buybacks effective immediately (5th July, 2019).

In terms of consumer usage, most appliance categories in India are under-penetrated, leaving notable headroom for growth. However, the competitive…

Overall cautious stance on staples maintained, with ‘Buy’ rating on APNT, NEST DABUR and ITC

HDFC’s buying out Apollo’s stake in Apollo Munich (fourth largest private health insurer) is expected to scale up its general…

Negative impact of weak Q1 and Q4 AC demand, Voltbek JV expenses and lower than expected engineering margins all hit…

Company poised for multi-year growth trajectory, justifying valuations; ‘Buy’ retained

FY19 consolidated EPS was up 38%, with high likely to be sustained in FY20e; TP raised to Rs 205; valuations…

FY20/21e EPS up 5/3%; ‘Hold’ retained given mixed execution; TP raised to `535

FY20-21 estimates cut slightly; maintenance of FY20e growth guidance is a positive; ‘Buy’ retained as risk-reward’s attractive

Little respite likely in FY20 from flat earnings of last 3 years; ‘Hold’ retained due to undemanding valuations.

Borrower leverage in some segments like salaried personal loan and professional loans saw 15-25% increase after 2-year of disbursal. Management…

NIMs lowered in line with FY18 & FY19 figures; need for caution on NBFC/HFCs though HDFC is shielded better; TP…

FY20/21e EPS down 7/3% owing to FY19 margin miss; TP cut to Rs 1575 from Rs 1620

Aleris reported strong margins in the quarter; prospects are good for Novelis given a host of positives; ‘Buy’ retained.

While execution is better than for peers, headwinds make valuations rich; base business estimates down 3%; TP up to Rs…

Parachute saw volume growth of 6% YoY in Q4FY19 on favourable base of 5% YoY dip. With price hikes coming…