Muted performance across segments
* Miss on all fronts: 2QFY20 revenue declined 5% YoY to INR13.2b (v/s est. INR14.3b). EBITDA margin contracted 370bp YoY to 18.9% (v..
UnoSugen, merchant sales drive growth
Bank guarantee for SECI-III invoked; Debt repayment a positive
Torrent Power’s (TPW) 2QFY20 EBITDA was up 7% YoY to INR1..
Lower volumes for Indian steel business drives miss
Steel business ramping up; Reiterate Buy
* 2QFY20 consolidated EBITDA at INR16.4b (-24% QoQ) came in 5% below o..
Disappointing volumes despite weak base; Margin outlook improving
* Consolidated net sales grew 5.1% YoY to INR6.6b (v/s est. INR7b). Domestic sales grew a meager 2% ..
Below est.; Benefit of mix more than offset by operating deleverage
* Weak Auto OEM and telecom segment hurts performance: 2QFY20 net sales declined ~4% YoY to ~INR26..
Healthy portfolio mix to help sustain growth
Pantaloons and innerwear biz to drive profitability over next 3-5 years We pored over ABFRL’s FY19 annual report to..
Slower growth in tough environment
* 2QFY20 PAT/PBT grew 0.8%/14% YoY to INR3.1b/INR5.2b (in-line). Company also incurred a one-time tax impact of INR800m on DTA revi..
Asset quality stress persists; government infusion boost capital ratios
* PNB reported 2QFY20 PAT of INR5.1b, dragged by higher provisions (+45% QoQ to INR29.3b) due ..
Subdued near-term outlook; Potential approval remains key
* DF drives overall revenue growth: 2QFY20 revenues were up 10% YoY at INR43.5b (in-line), largely led by Do..
Earnings driven by superior product mix
* US/domestic branded/EU drive revenue growth: CIPLA’s revenue increased 9.6% YoY to INR44b (in-line) in 2QFY20, led by ..
Continued strong performance at Novelis
Reports highest-ever EBITDA in 2QFY20
Novelis’ adj. EBITDA grew 5% YoY to USD374m (our estimate: USD337m) – the..
Below est.; Operating deleverage hurting margins; Outlook cautious
* Negative operating leverage dents margins: Revenues declined 27% YoY to ~INR23.1b (v/s est. ~INR2..
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
Ekta Kapoor: Making `Nagin` for TV as much fun as 'Broken But Beautiful` for OTT
Sharad Kelkar says Bhansali's 'Ram-Leela' was a gamechanger for him
Government planning`One Nation, One Pay Day` system: Labour Minister Santosh Gangwar
Anil Ambani resigns as director of Reliance Communications
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