BHFC posted robust growth in revenues in the first quarter of FY18, riding on its performance in the exports market, especially in the US.
While optically, the aggregate earnings may not appear as a shocker, it nevertheless hides underlying weakness and a clear loss of momentum.
we find the results positive, particularly on the cost management and restructuring front. Tata Global trades at 24 x (12m trailing earnings) which seems reasonable in the context of the ongoing business restructuring.
With stock trading at 19x FY19 PE and growth dependent on the challenging US business, Jefferies said it maintained hold rating with increased target price at Rs 510 (from Rs 480 earlier).
Bank of Baroda's total stressed assets increased from 10.8 percent to 11.7 percent sequentially. Net interest income was up 1 percent YoY and profit tanked 52 percent to Rs 203.4 crore in Q1.
The company continues to leverage on its fundamental strengths optimally, as evident from the numbers in the quarter gone by.
JSPL is expected to post strong earnings growth led by higher steel volumes, gains from operating efficiency and deleveraging of the balance sheet.
While the business looks to be in fine fettle, it is going to be a slow and careful journey to convert into a full-fledged retail bank. The market appears to have priced in the “most optimistic” scenario in the current valuation.
We advise investors with a long-term investment horizon to capitalize on the current weakness to build long positions on the premise of growth in JLR business and a probable turnaround in the domestic operations.
The stock is currently trading at a multiple of 39x of 2019e earnings which is not cheap and close to the sector average. However, company’s positioning on value (premiumisation) and volume (capacity expansion) is positive which makes it a fit candidate for accumulation.
Riding on the strength of Royal Enfield, Eicher Motors has yet again posted a healthy set of numbers for the quarter ended June 2017. But after the dream performance and an equally impressive run for the stock, should you be chasing it now?
The expansion plans/investments in new areas to reduce dependence on traditional businesses continued. The company is seeing nascent signs of recovery. Should investors put the stock back on their radar?
EU formulations contributed 25 percent to the total revenue registering a growth of 18.1 percent to a Rs.831 crore, led by an acquired business that has seen profitability during the year on the back of increased focus, product pruning and cost efficiencies.
Edelweiss also lowered its FY18/19 EPS by 20/10 percent to Rs 33/44.7. The research house maintained its hold rating on the stock with a target price of Rs 444.
The company is, however, upbeat about the progress on restocking in Q2 of FY18 and confident of posting double digit volume growth in this fiscal year. We, therefore, remain positive on the stock.
The company delivered a strong performance in this quarter. It reported topline growth of 6 percent year on year at Rs 2,010 crore.
Strong leadership in FES, revival riding on rural growth, a slew of new launches and reasonable valuation make it a stock worth accumulating for long-term investors.
"We expect continued focus on the EU turnaround plans for much of the current fiscal year," JM Financial said while revising estimates upwards primarily on higher spreads at Corus at USD 75 per tonne FY18/19.
Motilal Oswal is bullish on the stock, saying it is a top pick in healthcare delivery space but slashed target price to Rs 220 (from Rs 240 earlier), expecting relatively slow margin expansion in the medium term.
The FMCG major reported 10 percent drop year on year in its consolidated net profit for the June quarter at Rs 265 crore against Rs 293.6 crore.
The GST rate is a bit of a near-term dampener, but the company is taking the right initiatives to stay competitive.
The company’s first quarter profit on standalone basis surged more than 106 percent to Rs 266.9 crore compared with year-ago quarter.
Expectations were running low on account of pre-GST implementation adjustments in the quarter, and overall, the Nifty earnings have not resulted in any incremental negative surprise.
Marico posted sales de-growth of 4% in Q1 2018, impacted by sharp volume decline of 7% owing to channel destocking in its India business.
Most auto companies have reported a strong set of sales numbers for the month ending July compared to the same month in 2016.