MobiKwik CEO Bipin Preet Singh said Google removed the app from the Play Store as it had a link to the Aarogya Setu app. Singh told Gadgets360 that the company had received a warning from Google a week ago for promoting the Aarogya Setu app, after which it said the warning was a mistake. Despite this, Google removed MobiKwik from the Play Store. … [Read more...] about Aarogya Setu link | Google Play removes MobiKwik for violating ads policy
Covid’19-related shutdowns hurt an otherwise healthy year for ABFRL. It reported 7.7% revenue growth and a 16% EBITDA drop in FY20. The `10bn rights issue as a risk-mitigation strategy would strengthen the balance sheet. The inherently strong brands and otherwise healthy working-capital cycle are its key strengths. The stock price has fallen ~36% since the lockdown with concerns about demand revival uncertainty and mounting debt. On the extended lockdown and higher fixed costs than previously expected, we cut our FY21e/FY22e revenue 6.3%/8.3%, EBITDA 44.5%/25.0%. We maintain our Buy rating with a lower TP of `137 based on 18x FY22e EV/EBITDA. We believe the ability to control fixed costs and demand revival are key monitorables. … [Read more...] about Buy Aditya Birla Fashion and Retail target of Rs 137: Anand Rathi
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. … [Read more...] about Buy Orient Cement target of Rs 65: Anand Rathi
Higher treasury income (stake sale of Yes bank) and NIM expansion led to strong 29% sequential growth in Federal Bank’s Q4 operating profits. Higher provisions (incl. `930m Covid-related) led to a ~32% q/q decline in earnings. Asset quality and PCR improved. Ahead, higher build-up of stress would keep credit cost high and profitability subdued in the medium term. … [Read more...] about Buy Federal Bank target of Rs 55: Anand Rathi
"According to executives, Sikka's product mindset did not work for the company and eventually led to his departure. Then came Parekh’s appointment at a time the company was looking for an executive who would bring in stability," said Pareekh Jain, founder, Pareekh Consulting. … [Read more...] about Wipro’s new CEO: Can foreign executives succeed in Indian IT firms?