Ebitda margin was below estimate; FY22/23e EPS down 3-4% due to margin pressure; ‘Neutral’ retained
Robust growth expected in FY22; FY22/23e EPS up ~6%; TP raised to `1,350 from `1,110; ‘Buy’ retained
Asset quality suffered even as loan and core PPOP growth were positives; EPS for FY22/23 down ~3%; TP up to…
Weak retail was offset by better energy biz and Jio; all key segments expected to improve; ‘Buy’ retained with TP…
CY21/22e EPS up 14/9%; ‘Neutral’ retained as margins have peaked; TP up to Rs 2,215
Other entities financially sustainable at present; FY22/23e PAT revised by -13/10%; TP up to Rs 890 from Rs 860; ‘Buy’…
Dividend figure was a key negative; re-rating will depend on growth visibility; ‘Neutral’ rating retained
FY22/23e EPS up 4/8%; TP raised to Rs 546; prospects are bright; ‘Buy’ retained
Stress in small-ticket retail and MSMEs is cause for caution; ‘Reduce’ retained with TP raised to Rs 75
Second Covid wave could raise NPLs; loan growth likely to be weak in next two quarters; Buy retained with unchanged…
Ujjivan managed to remain barely profitable for FY21, with no provisions in Q4 (Rs 250 million reversal) despite a Covid-19…
We are less worried about the long-term story and expect the bank to deliver well relative to new-age banking peers.…
Demand outlook is weak; FY22-23e EPS down c.6%; TP cut to Rs 4,000; rating downgraded to ‘Neutral’
Margin pressure likely to continue; near-term risks to demand; FY22/23e EPS down 14/6%; TP cut to Rs 7,362; ‘Neutral’ retained
March/Q4FY21 growth was 7%/9% for pvt insurers on 2-yr CAGR basis; momentum revival for SBI Life and IPRU
Standalone revenue of 42.9bn (+23% y-y, +4% q-q) came in 1-2% below Bloomberg consensus estimate and our forecast, driven by…
DLPL stock has significantly outperformed its peers and the broader market since the start of the pandemic. Since mid-Feb 2020…
Stock is the top pick in the mid-cap EPC space; ‘Buy’ retained with TP of Rs 364
