Cost to income continues to fall (-93 bps y-o-y, 33.9%) and was lower than JEFe 34.3% in Q3.
Proposed equity issuance could ease gearing issues, but we still see challenges to loan growth.
HCL Tech raised the lower end of its growth guidance range for FY20e to 16.5% from 15% , but kept…
Margins are likely to be range-bound for steel firms; expected margin rise in Q4 priced in by recent rally.
Indiamart’s EBITDA margin has expanded sharply over the last few quarters from 11% in Jun-18 to 24% in 1HFY20
TRAI states its preference for keeping tariffs in forbearance.
Sun is trading at 16x FY21 PE, a 20% discount to peers. Risk reward in our view is favorable.
Loans grew 28.6% y-o-y although there was about a 4% uplift from the assigned loans from BHAFIN. Retail grew 27%…
NATCO has been diversifying outside the US and investing ahead of peers in India and RoW for the past 3…
With better execution on all key parameters, ABFRL is top pick in space; ‘Buy’ retained with TP of `250
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Tractor cycle, BS-6 remain headwinds; estimates cut over FY19-21 to factor in weaker volumes and lower margins; TP down to…
Asset quality improved in Q3; FY19e EPS down 13.8% owing to higher credit costs in quarter; TP raised to Rs…
Margins are expected to decline; valuations seem unattractive for JSW, SAIL; more reasonable for Tata.
Company has filed a writ for PNCPS issuance satisfying RBI norms; irrespective of outcome, HDFC Bank’s a better bet
While execution is strong, volatile jewellery topline and regulatory risks leave little upside; ‘Hold’ maintained.
Estimates see a sharp fall; medium term is strong; ‘Buy’ retained with TP cut to Rs 310.
Q2PAT rose 33.2% y-o-y to Rs 2.53bn, 8% miss vs. our estimate due to higher credit cost and tax
