Move to have no impact on balance sheet; valuation of O2C business cut to $70 bn from $80 bn; TP…
Truck upcycle is a positive, mkt share loss a concern; TP up to Rs 175; FY22e EPS cut by 6%;…
Any ESG rating upgrade would be an added sweetener.
Stock is still at 5.1x FY23E PB vs past peaks of 6.7x/7.6x. We rate ‘buy’.
Ebitda at a new peak; steel prices face risk but India margins to hold well above past levels; FY22-23e EPS…
Kochi volumes were flattish q/q in 2QFY22 after volumes had risen in 1QFY22 helped by full impact of pipeline connectivity…
We maintain our Buy call and price target of Rs 1,400 based on 1.9x Sep-23E adjusted PB.
Pfizer’s Covid drug and RM prices pose challenges; TP cut to `5,563; downgraded to ‘Hold’ given valuations
Novelis still generated healthy FCF after interest payment of $235 million in 2Q (1H: $158 million). Net debt declined 4%…
ITC stock has been under pressure on reports that the gov’t has formed an expert panel to develop a comprehensive…
India is currently at c.55%; there are countries on either side i.e. lower as well as higher, with some even…
Overall results met estimates; margins likely to be under pressure; FY22-24e EPS cut marginally; ‘Buy’ retained
Slippages were manageable & restructured loans rose from 0.8% of loans to 1.5%. Subs’ performance rebounded led by HDB-FS.
While bank has scaled up liability franchise well with Casa ratio of 60%, it has been rather conservative about growing…
Govt’s ‘Make in India’ focus likely to sustain growth; margin delivery will reverse de-rating; ‘Buy’ maintained
Assuming (~ 2 mmscmd), total industrial volumes for GUJGA could be ~ 7 mmscmd in September. With the help of…
Margin outlook remains positive; VNB estimates up 7-9%; target price raised to Rs 1,380 from Rs 1,240; ‘Buy’ maintained
VIL survival due to govt relief vital; FY23/24 estimates up 2-5%; TP raised to Rs 310; upgraded to ‘Buy’ rating
