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
In Wipro, after CEO Vivek Paul's exit in 2005, Azim Premji assumed the role for three years till 2008. Between 2008 and 2011, the company was led by Girish Paranjpe and Suresh Vaswani, both of them old-timers, who quit in 2011 on grounds of personal reasons. By then, Wipro's growth began to slump. … [Read more...] about Wipro’s new CEO: Can foreign executives succeed in Indian IT firms?