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Voltas Rating ‘buy’; Prospects for Voltbek JV are bright
It could lead to Rs 298/share of value over 10 years; top pick in sector; ‘Buy’ retained
Oct 19, 2020
Analyst Corner: Ashok Leyland to gain due to higher-tonnage trucks
AL is a pure play on the CV cycle. It is also likely to benefit from its higher share in the >16T segment, as usually the mix shifts upward during upcycles.
Oct 17, 2020
Upgrade Dr Lal Pathlabs to ‘neutral’ with TP of Rs 2,155
We note that EBITDA contribution from Covid-19 tests was much higher than we had previously estimated due to high volumes and a drop in raw material costs.
Oct 14, 2020
Maintain ‘buy’ on Balkrishna Industries
India’s agri tyre export revenues rose 49% y-o-y in August (from 44% y-o-y in July). Construction/Mining (OTR) segment growth also accelerated to 19% y-o-y in August (from 8% y-o-y in July).
Sep 26, 2020
Analyst Corner: Colgate-Palmolive expects sales to be augmented
Trade channel, Colgate expects sales to be further augmented by some trade-channel filling that had reduced in 1Q; however, channel inventory is still below pre-pandemic levels
Sep 22, 2020
ONGC rating: Reduce – Lower other costs behind Ebitda beat
OVL’s oil production at 2.2mmt fell 5% q-o-q and 10% y-o-y, while gas production at 1.2bcm declined 6% q-o-q and 10% y-o-y. OVL reported a Q1 loss of Rs 3 bn due to lower production and subdued oil/gas prices.
Sep 07, 2020
Glenmark Pharma has key positives; TP at Rs 727
GNP’s domestic formulation business has outperformed the broader market in the past and we expect this trend to continue.
Sep 01, 2020
Lupin gets USFDA nod for gProAir HFA, launch likely in September
All three brands launched authorised generics in 2019. The USFDA also approved the first generic of ProAir in February (Perrigo’s ANDA) and Proventil in April (CIPLA’s ANDA).
Aug 27, 2020
Bharat Petroleum rating: Buy — A strong showing by the company in Q1
Divestment a key catalyst; FY21/22e EPS up 70/12% on results and low base; TP raised to Rs 515; ‘Buy’ retained; preferred OMC
Aug 22, 2020
KNR Construction rating: Maintain ‘neutral’ with lower target price of Rs 285
Management has highlighted receipts of Rs1.85 billion in payments from road projects in July. These collections will provide near-term relief on working capital build.
Aug 22, 2020
Analyst Corner – Berger Paints: Maintain ‘neutral’ with target price at Rs 540
Industrial business has been more affected vs other segments. Some recovery seen in two-wheelers and passenger vehicles; commercial vehicles continue to be challenged.
Aug 20, 2020
Gail rating: Reiterate ‘reduce’ as marketing losses raise concern
GAIL’s reported EBITDA of Rs 6.2 billion (-75% q-o-q, -72% y-o-y) was 55% / 62% below our /Bloomberg consensus estimates, driven by a very large loss in gas marketing.
Aug 18, 2020
Hindustan Petroleum rating: ‘Neutral’; Q1FY21 performance was ahead of estimates
Near-term outlook weak; FY21/22e EPS up 71/31% due to lower tax rate; TP raised to Rs 215; ‘Neutral’ retained
Aug 15, 2020
Analyst Corner: Maintain ‘reduce’ on Tata Motors with TP at Rs 96
Lack of EV success a key risk for JLR. Both JLR and India business may continue to struggle over next 2 years.
Aug 05, 2020
‘Buy’ on Apollo Hospitals; March ’21 Target Price at Rs 1,762
We expect APHS to trade at a premium to international peers, given superior longer-term growth prospects.
Jul 03, 2020
Analyst Corner | Berger Paints: Expect high long-term volume growth
Berger Paints’ management is encouraged to see demand recovering faster than expected. Demand is being driven by tier-3/4 cities (less impacted by Covid-19) and is currently at near-normal levels.
Jul 01, 2020
IPCA Laboratories: Target price increased to Rs 1,820
In consolidated financials, IPCA recorded Rs 276.4m as a one-time write-off related to the Pisgah subsidiary. Adjusted for the write-off, the subsidiary performance was largely stable.
Jun 20, 2020
GAIL rating: Reduce — Impact of Covid on demand makes outlook bleak
Marketing may be hit most; FY21/22 EPS down 43-46%; downgraded to ‘Reduce’ with TP lowered to Rs 85
Jun 15, 2020
Britannia rating: Buy — Quarter performance came as positive surprise
April and May saw strong sales growth; FY20/21/22e PAT up 4/10/11%; ‘Buy’ retained with TP rising to Rs 4,000 from Rs 3,595
Jun 08, 2020
Motherson Sumi: Maintain ‘buy’ with lower target price of Rs 118
Overall, we cut our consolidated revenue estimates by ~8% and Ebitda by ~12% in FY22F.
Jun 05, 2020
Nestle India rating: Recommend ‘neutral’ with target price of Rs 17,250
We expect consumption of RTC foods to increase in a post-Covid world. Nestle’s products in this category — Maggi Noodles, Pazzta, Upma, Poha —could see significant demand growth.
Jun 04, 2020
Sun Pharma rating: Buy — Quarter results were in line with estimates
Higher than expected sales of specialty and improving traction in Ilumya were key positives; ‘Buy’ maintained with target price of Rs 525
Jun 01, 2020
Kotak Bank Rating: Neutral — A marginally positive performance in Q4
Company is best placed across metrics though current cycle will impact it; ‘Neutral’ maintained as valuations are rich
May 19, 2020
Analysts Corner | IndusInd Bank rating ‘buy’; liability weakness comes to the fore
Deposit outflow post Yes Bank crisis a surprise; corrective steps raise hope; valuations offer comfort; ‘Buy’ retained.
Apr 06, 2020
GAIL – Rating: Buy; Valuations factor in the worst
Since the disappointing Integrated HVJ tariff order on 4-June-19, GAIL’s share price has de-rated significantly (-57% since end-May vs. NIFTY -23%).
Mar 23, 2020
Analyst corner: GAIL ‘buy’ rating maintained; Valuations factor in the worst
FY20e EPS down 3% and FY21/22e EPS cut by 33%; TP reduced to Rs 140 from Rs 190; ‘Buy’ maintained
Mar 21, 2020
Analyst Corner: Maintain ‘buy’ on KEC International, Target Price Rs 412
Maintain buy with TP raised to Rs 412, implying 18% upside in KEC’s 3QFY20 sales at Rs 30.7bn (+16% y-o-y), marginally (~2%) below our estimates but in line with consensus.
Feb 12, 2020
Equitas SFB IPO: Retail portion fully booked, overall subscription at 64% so far; check grey market trend
Asian stocks follow Wall Street lower on lack of US aid plan
Netflix will offer non-subscribers free access to all content for two days starting with India
LG is bringing its swivelling dual-screen smartphone “Wing” to India on October 28
Modi govt approves performance, non-performance-linked bonus for 30 lakh Central Government Employees
Yes Bank announces festive season offers on loans, credit cards
LIC launches New Jeevan Shanti deferred annuity plan
India’s biggest passenger ropeway to commission in Gujarat on Saturday
Your Money: Invest your surplus money to create wealth for the long term
COVID-19 numbers in India on a decline; experts explain what could be the reasons
NPAs may jump in next two quarters; concerns mount over retail, small biz loans, says Federal Bank MD
Sensex, Nifty return to winning ways, end week with gains but remain range bound
Explained: Are medical consultations via digital means likely to stay post COVID-19 pandemic as well?
Delhi Metro and SBI Card launch multipurpose card with auto-top up facility; see features
Aviation Ministry allows NTPC to use drones for research, inspection at its 3 thermal power plants
Hyundai Xcent discontinued: Here's how you can still buy one
Kapil Dev suffers heart attack, undergoes emergency surgery at Delhi hospital
India’s insurance sector may go global soon; likely to drive country’s economic growth
PM Modi Bihar Rally LIVE: Opposition parties against decisions taken by NDA in national interest, PM says in Bhagalpur rally
Indo-US 2+2 Dialogue: Focus on addressing 'dragon in the room', taking strategic partenership to new level
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