Standalone Ebitda for FY22/23e raised by 10/5% on stronger VSF margins; debt-free B/S in offing; TP up to Rs 1675;…
Visibility on earnings growth trajectory is a positive; valuations are attractive; TP up to Rs 205 from Rs 195; ‘Buy’…
FY22-24e standalone EPS down 1-6%; turnaround in global subsidiaries is a positive; ‘Buy’ retained on inexpensive valuations
More affordable projects and low leverage are positives; TP up to Rs 360; ‘Buy’ retained
At Novelis, strong demand, record scrap spreads and ramp-up in auto volumes create upside risks to management margin guidance.
Weak volumes persisted; FY22-23 EPS raised due to higher O&G prices; TP up to Rs 110; ‘Sell’ maintained given production…
We see limited risk to margins for CNG from expected rise in domestic gas price, given its significant differential versus…
FY22-23e EPS up to factor in higher O&G prices; TP up to Rs 125; ‘Sell’ retained given track record, weak…
FY22/23e EPS cut by 4/2%; medium-term prospects are strong but positives factored in; downgraded to ‘Reduce’
Store expansion gathers pace: JUBI’s 4Q print was in line with expectations. Store openings were higher than expected and ahead…
Margins are likely to remain under pressure; FY22-23e EPS down 11-16%; TP cut to Rs 69,150; ‘Sell’ retained
FY22-23e EPS up 5%; TP raised to Rs 3,750 from Rs 3,300; valuations factor in prospects for growth; ‘Reduce’ rating…
FY22/23e Ebitda up 28/15% on strong commodity prices; TP raised to Rs 270 from Rs 180; ‘Reduce’ maintained
Strong performance in FY21; FY22-23e Ebitda cut by 1-3%; outlook for medium term bright; ‘Buy’ retained with TP of Rs…
Gland Pharma posted revenue growth of 40% yoy in 4QFY21, largely in line with our estimates. The US grew 26%…
With a strong balance sheet and management’s focus on RoE expansion, dividend payout has upside risk.
Operating performance improved across segments barring Jio, but concerns remain; FY22-23e EPS cut by 2-5%; ‘Add’ retained
UBBL reported 8% yoy growth in revenues to Rs 15.4 bn (3% above estimate) and 9% growth in volumes. On…
