Wholesales in line at 390k units (-11% YoY)
Domestic volumes decline ~19% YoY; Exports grow 0.3% YoY
* BJAUT’s Aug’19 sales declined 11% YoY to ~390k ..
High fee income, low expense ratio – key drivers of RoA improvement
* Bajaj Finance’s (BAF) AUM growth has been driven lar..
RBI cuts repo rate; lowers GDP growth forecast
Further rate cuts to be data dependent
* The Reserve Bank of India (RBI) cut its repo rate by 25bp to 5.15%, taking ..
Growth bounces back but revival to be gradual
* Revenue growth beats estimate:
Revenue grew 15.6% YoY to INR2,744m (v/s est. INR2,611m), due to new product launch..
Domestic demand to underpin capacity expansion
The current low spot price environment should support the government’s plans to bring about major reforms in the ..
Long-term investment case intact
Near-term uncertainty remains high We pored over Page Industries (PAG’s) FY19 annual report; key insights highlighted below:
Amazon to acquire 3.65% stake
* E-commerce giant Amazon has agreed to make an investment to acquire a 49% stake in Future Coupons (FCL), which holds a 7.3% stake (39.6..
Well placed in a challenging macro environment
Operating metrics improving steadily; Asset quality well-guarded!
* ICICI Bank’s (ICICIBC) annual report reaff..
Sales momentum intact, but a big miss on margins
* Net sales grew 21.5% YoY to INR6.4b (our estimate: INR6b) in 4QFY19 (FY ending June) – the fourth strai..
Proposed amendment on share buyback a bit late
The latest union budget removed the tax arbitrage between dividend payout and buyback of shares, thus, limiting the exte..
Volumes muted, DFCC commissioning to be key trigger
* GDPL acquired the residual 50% stake in its rail subsidiary Gateway Rail Freight (GRFL) from Blackstone wit..
Growth still evasive; Yields improve meaningfully
* 1QFY20 PAT grew 2% YoY to INR624m, 13% above our estimate. The beat was driven by better-than-expected yields and c..
Accelya Solutions In Q4 net profit up 32.35% at Rs 24.71 cr
US dollar rises after Fed policy meeting
Rupee rises by 12 paise to Rs 69.05 against dollar
BSNL to offer more data, validity under select prepaid plans
Infosys signs agreement with U.S. IRS; sees lower tax rate
After a 2-year break, RIL resumes drilling in Chevron shale joint venture
Ex-Jet Airways chief Dube joins GoAir as advisor
Major foreign firms set to attend Himachal investor summit
`Lay down emission norms for fire cracker industry`
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