BUSINESS
Ideas for Profit | HUL benefits from investment behind brands and distribution; accumulate
One needs to closely watch for pricing growth, which was a shade lower than expectations. It possibly reflects upon recent moderation in cost inflation.
BUSINESS
HUL Q3 Quick take: Volume led growth sustains on a high base
The premium valuation factors in limited volatility in earnings, innovation profile and strong execution capabilities
BUSINESS
Phillips Carbon Q3 review: Soft patch in auto sector demand needs a close watch
Company's capacity expansion programmes ensure continuance of dominant market position and facilitates a potential for high single digit volume growth in medium term.
BUSINESS
Brexit in limbo: Here are the 4 options ahead
The silver lining from May’s defeat is that options like second referendum or UK effectively cancelling Brexit (reversing Article 50) is also alive. But so is the possibility of total stalemate and hence a no-deal Brexit
BUSINESS
Quick Take | China trade data accentuates importance of key events – China plenum & trade talks
Next round of trade negotiation is expected to happen later this month wherein Chinese side would be led by Vice Premier Liu He. Sequence of events gets interesting as China’s communist party plenum (19-22 Jan’19) is also around the corner. This is important as traditionally major reforms are announced in such events which may point towards more opening of the Chinese economy.
BUSINESS
Varun Beverages: Beneficiary of inorganic growth, but how long can it sustain?
BUSINESS
Quick take GST changes: Calamity cess is not equal to sin tax; positive for ITC
This also sets a reference for future as the GST legislation provides for levy of special taxes for a specified period to raise additional resources during any natural calamity or disaster. And hence, on each such occasion tobacco companies may not be on the receiving side.
BUSINESS
Goa Carbon: Weak Q3, but volume rebound on horizon; margin to remain weak
Post recent raw material mobilization, company’s operations are in full swing. Company is sitting on sale order of 50,000 tonne and hopeful of capacity utilization of 96 percent in Q4. End market demand, particularly in aluminum industry (80 percent of sales) remains intact.
BUSINESS
Bajaj Consumer Care Q3 review: Improvement in wholesale augurs well; diversification key
Successful relaunches of key products of the company -- ADHO and No Marks -- along with better rural offtake have been the salient takeaways from the result
BUSINESS
Fed in wait and watch mode; minutes lay importance on financial conditions and global growth
Fed minutes suggest a longer pause than that reflected post the December Fed meet
BUSINESS
Prabhat Dairy: Foray into nutrition a potential growth driver
BUSINESS
Ideas for Profit | This little-known Indian firm is a major Vitamin D ingredient producer
China's effort on clean environment has impacted the supply side of Vitamin D3 market – particularly the animal feed market. Price rise has been in this category has been in the order of 3-4x in last one year. Additionally, vitamin D3 prices in the human segment have also risen by 20-25% on account of structural changes like limited supply and increasing awareness.
BUSINESS
PMI contraction suggests China gasping for domestic stimulus & breakthrough in trade talks
New announcements from Chinese authorities are expected to target a revival in consumption, improve the credit situation and offer a calibrated approach for reduction in debt so that growth in minimally hampered
BUSINESS
Quick take: Higher MSP prices are not detrimental for Marico in near term; buy on dips
Looking at the price trend for the previous cycle, one finds that copra prices are largely determined by the prevailing demand-supply equation. In the previous deflationary cycle, copra prices breached their prevailing MSP briefly
BUSINESS
Ideas for profit I Paushak – technology prowess in phosgene-based specialty chemicals
BUSINESS
US markets factoring weak growth; to stay edgy on risks from trade talks, likely no-deal Brexit
To add to the concerns, oil markets have also seen a sudden collapse.
BUSINESS
Marico eyes 13-15% revenue growth over 3-4 years: Saugata Gupta
In the current year company aims to deliver on annualized basis 8 percent volume growth.
BUSINESS
Quick Take | HEG buyback acceptance ratio to be low; fundamentals intact
HEG’s plan includes a proposal to buy back 1,363,636 shares (3.41 percent of paid-up capital). Buyback price of Rs 5,500 is at 41 percent premium to the prevailing market price.
BUSINESS
Ideas for Profit I Aarti Industries: Emerging as partner of choice for global chemical giants; accumulate
The company is undergoing a huge capex programme and also bagged multi-year mega contracts from global players.
BUSINESS
Fed reaches lower range of neutral rate; global growth, event risks need to be watched
The markets expected a far more dovish tone and is now concerned about global growth slowdown
BUSINESS
Ideas for Profit I NOCIL: Trade war a growth opportunity for rubber chemical major; Buy
The stock is currently trading at around 9.8x FY21e earnings and 5.4x EV/EBITDA for FY21e which seems attractive given the growth outlook
BUSINESS
Ideas for profit | Atul: Worth buying on improving demand-supply of chemicals
While its foray into new products and its available capacity bandwidth have made Atul to meet the improving demand, efforts on backward integration and lower finance cost are expected to aid its bottom-line growth
BUSINESS
HUL gets a taste of Horlicks: Big leap in food segment; innovations and synergy holds promise
Overall we find this deal transaction earnings accretive and believe that synergy benefits are worth watching out for.
BUSINESS
G20 meet: A sentiment boost to global risk appetite; long road ahead
If the sudden decline in oil prices and the apparent change in the Federal Reserve’s stance was not enough, the takeaways from the recently concluded G20 meet is boosting risk appetite. Among its key highlights, US agreed not to escalate tariffs from 10 percent to 25 percent on imports of $200 billion Chinese goods for a 90 day period and utilise the time window for trade talks. China, US President Donald Trump said, has agreed to reduce tariffs on US cars exported to the country and substantially increase US imports.
