FY18: Annual Report Analysis
Key takeaways from SRF’s FY18 annual report analysis are: 1) positive revenue growth outlook across businesses, barring BOPP, in FY1..
* We expect Hindustan Unilever’s revenue to grow 15% YoY, with underlying domestic volume growth of 15% in 1QFY19.
* PFAD prices are down 14% YoY (do..
Optimistic on demand growth revival
Key takeaways from FY18 annual report analysis of UltraTech Cement (UTCEM) includes: 1) management estimates demand growth of >7..
Robust balance sheet growth; NIM under pressure
* DCB Bank reported PPoP growth of 4% YoY – 6% below our estimate due to NII miss of 4% (17bp QoQ contracti..
IHH to take control of Fortis
Fortis Healthcare (FHL) announced that the Board has selected the offer of IHH Healthcare (IHH), which outbid the offer from TPG-Manipal ..
Poor Quarter, But Long-Term Thesis Intact
Cyient has reported a disappointing performance in 1QFY19, with its USD revenue declining by 2.3% QoQ (-1.4% in CC terms) to ..
Court ruling delays sale of generic Suboxone
Reduced scope of business for DRRD
* Post the recent temporary restraining order (TRO) against Dr. Reddy’s..
DCB Bank is a new generation private sector bank with 318 branches across 19 states and 3 union territories. DCB Bank has created niche in mortgage financing (currently a..
No good news is bad news
* Infosys’ revenue growth of 2.3%/0.9% qoq in CC/USD terms is largely in line with our estimates of 2.0/1.0% growth . EBIT margin ..
Indusind Bank (IndusB) demonstrated strong performance for Q1FY19 on both financial and operational fronts. NII grew by 19.6% YoY, C/I ratio reduced to 44.2% and the bank..
* Compared to the weak exit for FY18 (0.6% QoQ CC), we expect acceleration in growth, led by seasonal strength, resulting in 2.3% QoQ CC growth in 1QFY19.
Buyback announced; to return ~40% of cash to shareholders
* HCLT’s board approved the buyback of 2.61% of paid-up equity (~36m shares) at INR1,100, implyi..
BSNL to offer more data, validity under select prepaid plans
India's IOC buys U.S. Light Louisiana Sweet oil via tender
M&S seeks technology savings through Tata tie-up
PwC to fight SEBI audit ban to limit franchise impact
Infosys signs agreement with U.S. IRS; sees lower tax rate
Evening Update For16th July 2018 - JRG Sec
WPI inflation spikes to 4-yr high of 5.77% in June
Sugar production to be 35-35.5 million tonnes: ISMA
Airbnb breaches EU consumer rules, must fall into line - EU
The yield on the 7.17% government bond due May 2028 fell to 7.7913% - GEPL
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