BUSINESS
Hindustan Zinc: A good defensive play in the volatile commodity market
Current valuations based on enterprise value at 7.8 times its estimated operating profits of FY19 are quite reasonable and supportive especially in the light of 25% return on equity, zero debt and cash of about Rs 23,000 crore in the books.
BUSINESS
Shakti Pumps: 5 factors that make it an attractive investment
We feel the valuation (stock is trading at 18 times) is reasonable considering the opportunity in the sector, leadership position, focus on single segment, good return ratios and strong growth visibility
BUSINESS
Can the CESC demerger unlock value for investors?
Our calculation suggest that sum total of these individual businesses on a conservative basis accrues to about Rs 1,350-1,365 a share, which is quite attractive compared with the CESC’s current market price of Rs 913 share
BUSINESS
Tata Sponge Q2 review: Profitability to improve, valuations remain attractive
The stock has corrected and currently trades at an attractive valuations of about 9 times its FY19 estimated earnings
COMPANIES
Looking for bargains? Here is a PSU stock that can compound wealth and yet protect capital
At its peak, the company had traded at 25-32 times its forward earnings as against the current valuation of 11 times.
MONEYCONTROL-RESEARCH
PSU buyback: An opportunity in a volatile market
Thanks to correction in markets, few PSUs have come out with the buy backs and they are worth a look
BUSINESS
A 5-point checklist for investors that could help navigate volatile markets
A cheap stock could remain cheap forever if the value is destroyed. Stocks like Gitanjali Gems never recovered from that cheap zone as the business was completely wiped out post the Nirav Modi crisis
BUSINESS
How asset-rich ITNL can help parent IL&FS with its financial troubles
Companies such as ITNL, which hold hard assets such as operational BOT road assets can raise money through monetisation.
MONEYCONTROL-RESEARCH
With Usha Martin acquisition Tata Steel strikes while the iron is hot
Even at 90% capacity utilisation and assuming a 50% improvement in current EBITDA per tonne to about Rs 8250 per tonne over the next two years, it can potentially generate operating profits of about Rs 740 crore.
MONEYCONTROL-RESEARCH
Garden Reach Shipbuilders IPO: Defensive in character, expensive in price
While the business has some merits, given the slowdown in the defence space, past performance of the company and the premium valuations (15 times FY18 earnings) the risk-reward looks tilted.
BUSINESS
BHEL’s buyback: Is it throwing good money after bad?
It would be worth noting that the success of any buyback would only yield results with the commensurate turnaround in the fundamentals of the business
BUSINESS
IRB InvIT: Does accumulation of units by promoters signal better days ahead?
IRB Infra promoter purchased 75 lakh units of IRB InvIT as prices hit a low. The fund currently offers a yield of close to 16 percent
BUSINESS
NMDC: Pricing the risk of lower production this year
At current market capitalisation of Rs 37,400 crore its stock is trading at 9 times its expected earnings, which is reasonable.
MONEYCONTROL-RESEARCH
Growth stocks turning into traps as companies play closer to foul line
Businesses that breach trust and indulge in bad practices are bound to fail. It will only be a matter of time before that happens.
MONEYCONTROL-RESEARCH
Reliance Infrastructure: Turning “D” rating into a re-rating?
The company now expects to cut interest cost by about Rs 1,800 crore and improve its liquidity and financial profile
BUSINESS
How L&T’s buy-back could correct its faulty capital allocation & reward shareholders
Our calculations suggests that a Rs 9,000 crore buy-back would have an about 170 basis points impact on FY18 RoE
BUSINESS
Hindalco Industries: Aluminium business steals the quarterly show
The movement in LME prices from here on and the acquisition of Aleris would be key to Hindalco's future performance
EARNINGS
Q1FY19 Result Analysis: Nalco a beat but NMDC disappoints
Strong earnings growth and cash in the books makes Nalco an attractive buy in aluminium space.
BUSINESS
KEC International: Creating pillars of growth
Considering the strong order book and improving execution, traction in overall revenue should remain strong
EARNINGS
Solar Industries: Firing on all cylinders
Solar Industries clocked close to 32 percent growth in sales during the quarter ended June 2018, even in a slightly dull environment, thanks to its timely diversification.
EARNINGS
NTPC is a dividend play at best; don't expect it to be a growth stock
If the company's growth does not improve materially, investors would better off valuing the stock on the basis of dividend alone
EARNINGS
Is Vedanta’s cash in books eroding value for its shareholders?
Repaying debt, making acquisitions in related areas, investing in organic growth and payment of dividends to shareholders are some of the things that are being deliberated upon by the management.
BUSINESS
Astra Microwave: Operating in a challenging industry environment
Lower valuations reflects market’s apprehensions about earnings growth, which could be muted this year on account of lower margin and slow growth.
EARNINGS
JSW Steel: Rise in debt from recent M&A debt to weigh on performance
In the current fiscal, JSW Steel should be reporting a net profit in the region of about Rs 7500-8000 crore.
