Inflationary trends are still visible in select inputs while promotional intensity remains rational.
Earnings up 10-13% to factor in higher utilisation and rupee fall; GRIL/HEG TPs raised to Rs 1,450/5,500.
Hopes of strong volume growth belied; sharp cut in EPS; downgraded to ‘Hold’ with TP cut to Rs 105.
ALM mismatch, higher CP mix likely to affect spreads; EPS growth to slow; ‘Hold’ retained owing to valuation.
Strong billing growth implies positive near-term outlook; ‘Hold’ retained due to expensive valuation
ABB reported strong 31% YoY revenue growth in 3QCY18, in line with our expectations. However, pace of margin recovery has…
Our assessment of H1 results indicates (i) Moderating new business growth, (ii) Product mix shifting towards protection & away from…
FY19-21e EPS up 1-9% given the positive outlook; Target Price revised to Rs 490; valuations are attractive
The quarter was a mixed bag – (i) new business growth picked up, but driven by lower margin fund management…
Cause for caution given cost headwinds for 2Ws and structural growth concerns on Hero; TP cut to Rs 3,070
Annual growth of wealth per adult averaged 8% over 2000–18. Prior to 2008, wealth also rose strongly, from $1,830 in…
We upgrade HDFC to ‘buy’ with revised PT of Rs 2,030 — the stock has corrected 17% in a little…
Volume growth has been divergent across segments and OEMs in Q2FY19e with Ashok Leyland, Bajaj and TVS expected to deliver…
We expect Dr Reddy’s Labs, Syngene, and NTCPH to report strongest earnings growth while Lupin sees the most decline.
The market saw more price hikes, with price increases in paints, toothpaste, hair oil and edible oil segments.
EPS goes up by 1-2%; TP raised to Rs 920; ‘U/P’ rating retained given likely EPS misses, rising net liabilities…
Import content fell to a low in FY18; triggers of debtor monetisation and reduction in fixed costs needed for upside
Underlying demand trends are stable, however, some impact can come in due to Kerala floods, below normal monsoon and late…
