The share of generics by volume is ~70%, partly led by biennial price cuts of 5-7%. Japan’s government is likely…
PWGR has noted that India’s current low per capita electricity consumption (a third of the world average) and focus on…
Bank of Baroda reported a PAT of Rs. 730 crore (our estimate: A loss of Rs. 1,200 crore) as the…
Emerging Markets (EM) sales were up 3% YoY at $201m (18% of sales).
FY21e EPS up ~5% due to higher tractor volumes; ‘Neutral’ retained with TP of Rs 700
India business seems to have bottomed out; FY21e EPS up ~8%; upgraded to ‘Buy’ with revised TP of Rs 185.
The share of new loans to existing customers increased y-o-y from 66% to 70%.
Bank is well placed in a challenging environment, being on track to achieve RoE target; top pick in the sector;…
Consolidated gross margin expanded 560 bps y-o-y to 49.6%. Ebitda margin expanded 270 bps y-o-y to 19.3% (v/s est 17.7%)…
As highlighted in our update note two weeks ago, JUBI’s competitive positioning will get stronger as a result of the…
ASK increased by 24% y-o-y to 24.2 billion km. The company added ~10 new planes during the quarter, with addition…
Helped by a lower tax rate of 26.6% for H1, adjusted PAT growth stood at a strong 28.5%.
Petrochemical Ebit stood at Rs 75 bn (-6% y-o-y, flat q-o-q), led by pressure on product spreads due to the…
EBITDA margin improved 20bp YoY (+80bp Q-o-Q) to 8.8% (our estimate: 7.8%). Low tax boosted adj. PAT to ~ Rs…
Other income grew 30% Y-o-Y, led by a significant rise of 27% in fee income. Total income growth (15% YoY)…
Margins are likely to be stable q-o-q at 4.3%, and NII to grow ~18% y-o-y; ‘Buy’ retained
As we rationalise our ETR expectations, the EPS downgrade impact is only partial. Demand outlook for the medium term remains…
Besides NBFCs, banks too have started facing asset quality concerns now.
