Stock corner: Buy HDFC share, lower NIMs came as a disappointment

NIMs lowered in line with FY18 & FY19 figures; need for caution on NBFC/HFCs though HDFC is shielded better; TP revised to Rs 2310
Stock corner: Buy HDFC share, lower NIMs came as a disappointment News

Stock corner: ‘Buy’ Hindalco Industries shares, Aleris reported strong margins in the quarter

Aleris reported strong margins in the quarter; prospects are good for Novelis given a host of positives; ‘Buy’ retained.

Markets News

Stock corner: ‘Buy’ Mahindra Logistics, a strong performance in quarter

While outlook’s bright, FY20/21e EPS down 4% due to auto slowdown; TP cut to Rs 610.

Markets News

Bharti Airtel Rating: Buy; results bucked downtrend of last several quarters

India wireless business made a strong comeback; outlook is favourable given multiple levers; ‘Buy’ retained with TP of Rs 410.

Markets News

Marico Rating: Add; At operational level, subdued showing in Q4

Estimates down 5-6% to bake in lower volumes and margins; TP revised to Rs 380.

Markets News

ICICI Bank Rating: Buy; Q4 was in line for estimates operationally

PPoP trend is improving; RoEs of 15.5/16.2% likely by FY21/22F; TP up to Rs 500; one of top picks in the sector.

Markets News

Hindustan Unilever Rating | Hold — Q4 was broadly in line with estimates

While execution is better than for peers, headwinds make valuations rich; base business estimates down 3%; TP up to Rs 1,820.

Markets News

Hindustan Zinc Rating | Reduce — weak showing in Q4 was on expected lines

Zinc prices are likely to stay muted; FY20/21e EPS cut to Rs 22/24; TP revised to Rs 285; ‘Reduce’ maintained.

Markets News

Biocon Rating | Add — Strong sales growth led to a margin beat

While Peg-filgrastim is tracking well, we reduce our Trastuzumab market share assumptions (as we expect slower ramp-up) and factor in higher staff cost, R&D & depreciation, resulting in 11/9% cut in F

Markets News

HDFC Life Rating | Buy — Performance in the quarter was stable

For FY19, total premium/PAT grew 23.8/13.1% y-o-y to Rs 289/12.5 bn. For FY19, the share of the protection business increased to 16.7% of total APE (7% on an individual APE basis).

Markets News

Long road to redemption for Yes Bank; check share price target

Unless investors wish to give a significantly higher multiple for a long-term RoE potential (over 5 years), we expect the stock to see a suppressed multiple range of  ~1-1.5x in the interim, leading

RBI slaps Rs 11 lakh fine on Yes Bank for violating money transfer norms News

Banks: Trends remain unchanged in MSME lending

While loan growth is healthy and NPLs are stable, private banks have been gaining market share at cost of PSBs

Banking & Finance News

UltraTech Cement Rating| Hold — A strong performance in the final quarter

Company making most of sector wave; FY20/21e Ebitda up 12/17%; TP raised to Rs 4,822; ‘Hold’ retained owing to limited upside

UltraTech Cement Rating, UltraTech Cement Q4FY19 performance, UltraTech Cement, Ebitda News

Max Financial Rating| Buy — Valuations are factoring in binary risks

TP raised to Rs 550 from Rs 492 on rollover to Mar’21F and improving business mix

Max Financial Rating, Max Financial, PAR share, ULIP share, APE growth, VNB margins News

RBL Bank Rating: Buy — A robust showing

A host of positives are likely to boost prospects; TP up to Rs 780 from Rs 725

Markets News

Stock corner: ‘Buy’ Reliance Industries, Q4 earnings beat estimates by 6.8%

Consumer and petchem segments did very well; demerger of tower and fibre arms to reduce leverage; TP up to `1701

reliance, reliance industries, reliancxe ratings News

Stock corner: ‘Reduce’ Wipro holdings, soft performance in the last quarter

Q1 guidance weak though share buyback will restrict downside; ‘Reduce’ retained with revised TP of Rs 270.

wipro, wipro rating, it sector, it industry News

Infosys Rating: Margin miss was key disappointment

Growth outlook remains positive; estimates cut to reflect lower margin over FY20-21; TP revised to `835; ‘Buy’ maintained.

infosys, infosys ratings, stock markets News

Avenue Supermerts Rating: Emerging headwinds are a concern

Valuations are not factoring in changing scenario; initiated with ‘UW’ and TP of Rs 1,120

rupees, economy, stock markets, retail industry News

Stock corner: Hold TCS shares, Tata Consultancy Services revenue beat driven by digital showing

With its execution and digital capabilities, TCS’ growth prospects best in industry; ‘Hold’ retained owing to rich valuations

Tata Consultancy Services Rating: Hold| Revenue beat driven by digital showing News

Stock corner: Buy Bajaj Consumer Care, decent performance in the quarter

A steady quarter defying some slowdown in consumer staples, healthy trends (market share gains and offtake growth tracking ahead of primary) and new product launches keep us optimistic of earnings gro

Bajaj Consumer Care Rating: buy| Decent performance in the quarter News

Titan Rating | Buy — Jewellery led high sales growth of 21% in FY19

Management’s expectation, in pre-quarterly update for Q4FY19 (and FY19), of further 20% sales growth in FY20 shows that all segments are doing well; ‘Buy’ retained.

Markets News

Crompton Greaves Rating | Earnings revival likely to lead to a re-rating

Undemanding valuations; upgraded to ‘Buy’ with TP rising to Rs 300 from Rs 266.

Markets News

Real estate consolidation gains momentum in NCR, Mumbai

Top developers in NCR and Mumbai likely to gain more than those in Bengaluru and other key cities.

Industry News
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