Mindtree reported organic c/c revenue growth of 3.6% and reported growth of 6.1%, a material outperformance after the guiding down in Mar 2016. Growth was led by the travel and hospitality vertical and top client.
As per unauthenticated media articles, the Central Government panel on cottonseeds pricing has recommended lowering the MRP to 800/packet (versus 830-1,100 at present), mainly by cutting royalty payable to Monsanto.
More than the weakness on margin and interest cost (to normalize from FY2017), we focus on Sadbhav’s potential to secure orders in 4QFY2016. An 8% market share for Sadbhav in NHAI’s 450 billion tendering pipeline will rai
Havells’ 3Q FY16 results and conference call were encouraging given strong domestic sales across segments, improvement in contribution margins, positive outlook across segments, conclusion of Sylvania stake sale.
Siemens reaffirmed that pick-up in capex is led by T&D, railways, renewables and roads, while capex in other key sectors like defence, power generation & distribution, steel and cement continues to be lackluster.