Energy costs continue to remain a headwind, leading to 5-quarter low Ebitda per ton of Rs 286, in spite of…
Q3 PAT grew 58% y-o-y to Rs 2.2 bn, in line with our estimates. NII surprised positively due to stronger…
Bajaj Auto, Ashok Leyland likely to post robust earnings; Eicher’s consensus FY18 estimates could see downgrades
Elevated Brent and busy political calendar in 2018-19 makes this uncertain, though, and could peg back a re-rating for India’s…
Post steep hike in non coking coal FSA prices by CIL, we lift our FY18-19E EPS 6-40%.
We assume Ashok Leyland at Hold with price target of Rs 130. We expect 10-15% growth in M&HCV industry over…
We are enthused by JFL’s margin story helped by improving store vintage, cost saving initiatives and dip in Dunkin’s losses.…
PNB raised Rs 50 bn of capital and sold its stake in PNB Housing (Rs 13 bn) aggregating to 1.4%…
Maintain ‘Buy’ with revised TPs of Rs 830 for GRIL and Rs 2,600 for HEG
EPS expected to grow at 17% CAGR over FY18-20e; initiated at ‘Buy’ with TP of Rs 1,300
PLNG has renegotiated the Exxon Gorgon contract that may cut LNG import price by ~USS$1 mitigating potential offtake risks even…
Potential Rs 128-bn equity issuance for KPO phase II could be EPS-dilutive in near term and weigh on the stock…
The government also revised up petcoke demand for Apr-Sep by 15% by incorporating actual import data taking 11M 2017 demand…
Reliance’s EBITDA may double to $20 bn by FY22/23e but at $123 bn in EV, much of that appears baked…
SBI raising its bulk rates signals a normalising macro. Interest rates can only head higher from here, even though policy…
We believe LICHF’s NIMs have bottomed out, but meaningful improvement on them appears unlikely in the near term. While LICHF…
Refining margins may firm up in the remaining winter months but we are more alarmed by the sharp fall in…
We like BRIT for its strong execution in biscuits viz, distribution expansion, cost efficiencies and steady premiumisation that bode well…
