Endurance Technologies reported consolidated EBITDA of `320 crore (+26% yoy) in 4QFY19, 18% above our estimatesmainly due to sharp improvement in gross margins and government incentives.
PIDI’s 4Q earnings were 10-12% below our and the Street’s estimates due to sharp deceleration in volume growth (India CBP volume/mix growth down to 4% in 4Q from 15% in 9MFY19), partly offset by better-than-estimated reco
A steady quarter defying some slowdown in consumer staples, healthy trends (market share gains and offtake growth tracking ahead of primary) and new product launches keep us optimistic of earnings growth acceleration.
The acquisition reflects continued interest from PE firms in mid-tier companies listed in India and strategic buyers for private or US-listed offshore pureplays.
Increase in fresh lending rates is unlikely as most companies focus on higher share of low yielding retail products and lending to better rated corporates.
We find limited pockets of value in the Indian market with only a few ‘corporate’ banks and NBFCs and most PSU stocks offering meaningful value. We expect potential further re-rating of the ‘corporate’ banks as and wh
Private sector players reported 16% year-on-year (y-o-y) growth in individual annual premium equivalent (APE) in February 2019, higher than in the past few months.
Lemon Tree continues to report steadily improving operating metrics with ARR having increased 5% year-on-year to Rs 4,465 a day and occupancy levels declining 350 bps to 73% in Q3FY19.
RIL’s Q3FY19 Ebitda was in line with our estimate as a surprisingly wide refining margin was offset by lower contribution from petchem and Jio; higher other income boosted net income.
Orders from states/PSUs should continue based on past history of capex spending by states (fiscal targets a limited constraint) and reasonable leverage/capex plans of PSUs.
Private sector players reported improvement in individual Annualised Premium Equivalent (APE) growth, up 14% year-on-year (y-o-y) in December 2018 after remaining flat in November 2018.
BoB Has made an announcement on the swap ratios (every 1,000 shares of each bank) for the merger with Vijaya Bank (402 shares) and Dena Bank (110 shares).
