"Escort will continue to witness stability in demand owing to government support for the agricultural sector and good monsoon. We have a positive marking on Bosch for the being the leader in the Fuel injector system in regard to the BS6 transition and Minda industries for the benefits of censor and controllers," Nair said. … [Read more...] about July auto sales signal recovery: Should you buy stocks from the sector?
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Kotak Institutional Equities has maintained a buy with target at Rs 340 per share. The bank reported 80 percent YoY earnings growth led by 35 percent YoY operating profit growth. Moratorium ratio, not strictly comparable which is at 10 percent of loans, it said … [Read more...] about SBI share price gains on Q1 profit; CLSA, Nomura, Kotak recommend buy
Bharti Airtel’s Q1FY21 performance was stable on the operating front. Key highlight was ARPU growth of ~1.8% at Rs 157 (vs. expectation of ~2% QoQ decline), in a challenging quarter coupled with continued expansion in India wireless margins. Consolidated revenue was at Rs 23939 crore, up 0.9% QoQ. Indian wireless revenues at Rs 12,877 crore, fell 0.6% QoQ while Africa revenues were down 0.6% QoQ at Rs 6451 crore. Consolidated EBITDA margins were at 43.5% (up 60 bps QoQ). The margin expansion was led by Indian margin, up 160 bps QoQ at 44.3% (we expected flattish margins) with Indian wireless margins at 40.6%, up 140 bps QoQ, largely a function of tariff hike pass through and cost control. … [Read more...] about Buy Bharti Airtel; target of Rs 700: ICICI Direct
Volume de-growth of SGC at 32% y/y was in-line with industry demand de-growth. Consolidated volumes for the quarter was 0.56 MT. Green shoots were particularly visible in rural segment demand and Government orders in Andhra during Q1 – both are expected to sustain going ahead as well. EBITDA/te for Q1FY21 stood at Rs 1,568 (+64% y/y/+194% q/q) which was at lifetime high for the company on the back of extremely strong pricing tailwinds in key markets (NSR/te +13.5% y/y) and superior cost optimization. Driven by 1. better than expected demand pick up in May-June 2020, 2. robust pricing scenario during Q1FY21 and 3. sublime execution on cost optimization, we upgrade our EBITDA estimates by 57%/11% for FY21E/FY22E respectively. … [Read more...] about Buy Sagar Cements; target of Rs 607: YES Securities
We Retain BUY. See MGFL reporting strong profitability in coming quarters despite elevated provisioning, driven by tailwinds in gold loans business. Notwithstanding stock’s recent outperformance, valuation is still inexpensive at 1.8x FY22 P/ABV in context of high profitability and capitalization. … [Read more...] about Buy Manappuram Finance; target of Rs 225: YES Securities