BUSINESS
Q2 FY19 review: Add these 2 aromatic chemical companies to your portfolio
Benzene-based specialty chemical companies continue to deliver strong operating results aided by tactical factors like disruption in China production and structural improvement in cost competitiveness and technical prowess
BUSINESS
Rain Ind: Adverse impact on Q3 CY18 sales volume already in price; accumulate
We expect growth in CY19 to be led by volume improvement in carbon segment and pricing gains in the advance material segment
BUSINESS
Balaji Amines Q2FY19 review: Volume growth hit by transitory issues; accumulate
In our assessment, growth levers for Balaji Amines are intact and we remain positive on the stock, primarily because of its strategy of capitalising on import substitution opportunities
BUSINESS
Sadhana Nitro: A niche player in the nitrobenzene value chain; diversification is key
As far SNCL is concerned, its diversification into various end-market applications holds promise and helps it to move beyond the commodity play
BUSINESS
Britannia Q2 review: Portfolio expansion, distribution reach to aid earnings, Accumulate
The management outlook on operating margin remains positive. It is also aiming at a price increase of about three percent in Q4. Bulk of its cost saving target (Rs 250 crore) is expected to unfold in the second-half
BUSINESS
Buy HEG on dips; higher FY19 capacity utilisation guidance a positive
The management said Chinese government’s anti-pollution campaign is stricter in the current year
BUSINESS
Dabur Q2 FY19: Moderation in rural growth expectations; accumulate on staggered basis
Dabur posted consolidated sales growth of 8.5% YoY mainly aided by 8.1% volume growth (vs. 7.2% in the base quarter) in the domestic business (69% of sales)
BUSINESS
Emami Q2FY19 review: Business in transition; accumulate on dips
Management is hopeful of clocking double digit sales growth in FY19 on the back of recent strategy changes and improving demand. However, double digit volume growth (earlier guidance) scenario in this fiscal looks less likely.
BUSINESS
ITC Q2FY19 review: Broadening of growth levers; regulatory risks remain
Recently, a few of ITC’s businesses have witnessed encouraging growth traction –volume growth in FMCG business, growth outlook in hotel business and paper business and stabilization in cigarette business.
BUSINESS
Zydus Wellness’ Kraft Heinz bet healthy, but requires heavy lifting
The M&A transaction can be EPS accretive provided there is higher private equity or third party participation.
BUSINESS
Bodal Chemicals benefits from favourable demand-supply dynamics
We remain positive on the traction towards vertical integration and capacity expansion.
BUSINESS
Bajaj Corp Q2 review: Business in transition; wholesale channel weakness key worry
Key thing to watch for the company is volume offtakes from rural areas and consumer response post-relaunch of ADHO.
BUSINESS
China growth slowdown gets worrisome as trade tiff broadens
Consistent positive macro data from the US and Federal Reserve’s hawkish stance has been instrumental in reversal of portfolio flows from China and other emerging markets to the US
BUSINESS
Bhansali Engineering Q2 review: Weaker rupee & input cost weigh; accumulate on dips
The company is already witnessing improved market share. Its planned mega capacity expansion (200,000 tpa in FY21) is expected to bridge the domestic demand and supply gap
BUSINESS
Risk reward turns favourable in these 3 FMCG stocks; should you buy?
Market beta (sensitivity to broader index) of various FMCG stocks are well below one, which means they decline or rise less in times of market wide correction or upsurge phases, respectively
BUSINESS
US earnings review: Performance so far outshines global macro worries
So far, more than 10 percent of S&P 500 companies mostly from the financials, technology, consumption and industrial sectors have reported earnings.
BUSINESS
SC petcoke verdict removes major hurdle, but uncertainty on capex remains
The court verdict removes a major hurdle for the petcoke value chain catering to the aluminium industry
BUSINESS
US political uncertainty can potentially thaw in fund outflows from emerging markets
Upcoming US midterm election could potentially halt the rally in USD and reverse the flows from US markets to relatively better-placed EMs like India
BUSINESS
Why are global bond yields rising and what it means for emerging markets such as India?
Since the investors seek higher risk premium for the earnings visibility in this scenario, management outlook and operational execution gains prime importance.
BUSINESS
Goa Carbon: Supreme Court hearing on petcoke ban a key risk event
The company is hopeful of a positive outcome from the October 9 hearing in the Supreme Court as the petcoke is used as feedstock in the industry and not as fuel.
BUSINESS
Methanol opportunity as a fuel substitute augurs well for GNFC and Deepak Fertilisers
To implement the roadmap, government targets methanol production of at least 5 million tonne by 2021 which would initially be augmented through existing manufacturers.
BUSINESS
Global trade outlook moderates; re-mapping of supply chain on cards
While demand slowdown is the pivotal factor to track, trade slowdown in the immediate future is also guided by remapping of supply chain.
BUSINESS
As Fed's conviction rises over growth, rate hikes, emerging markets could feel more pain
While market remains cautious and trade war has a potential to skew terms of trade for emerging markets, an upward trajectory of fed rate is expected to lead to synchronized interest rate cycle for emerging markets.
BUSINESS
Phthalic Anhydride players: Removal of anti-dumping duty intensifies competitive landscape; avoid
After taking imports from major Korean importer (Aekyung) into account, one finds that 65 percent of India’s total imports took place without any anti-dumping duty during the period of investigation.
