Large scale organization

Baroda BNP Paribas Mutual Fund started operations on March 14 as Baroda Asset Management Company and BNP Paribas Asset Management Company’s merger finally came through after more than two years. PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Highlights Strong earnings in Q3 FY23 AUM growth led by organic as well as inorganic growth Acquired mutual fund assets of iFast during the quarter Product mix improves further in favour of equity assets Superior business model Valuation rich The stock of Prudent Corporate Advisory Services (CMP: Rs 1,005; Mcap: Rs 4,162 crore) had a great run on the bourses since its listing last year in May.  The mutual fund distributor’s stock has more than doubled in the last 6 months and is up 62 percent... … [Read more...] about Why is this mutual fund distributor buzzing on bourses since its listing in May last year?

The company has business in over 150 countries and has built a user base of over 80 million in the last 25 years of operations. Software-as-a-Service (SaaS) firm Zoho Corporation reported a consolidated net profit of Rs 2,700 crore in FY22, up nearly 43 percent year-on-year on the back of a rise in revenue from its enterprise IT management software business. The firm’s revenue from operations was up 28 percent to Rs 6,711 crore in FY22 from Rs 5,230 crore in FY21, as per Zoho’s filings with the Registrar of Companies (RoC) on January 28. Zoho crossed the $1 billion revenue mark in 2021 with India business growing 77 percent on a year-over-year basis, a top company official said. Zoho Corp Co-founder and CEO Sridhar Vembu said while the scale of US and Europe contribution to the company's overall business is higher, India business is growing very fast and it could be the largest market for the company in 10 years. The company has business in over 150 countries and … [Read more...] about Zoho reports 43% jump in net profit at Rs 2,700 crore in FY22

The average estimate of a poll of five brokerages by Moneycontrol had put Bajaj Finance’s net profit at Rs 2,928 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bajaj Finance on January 27 reported healthy standalone third-quarter earnings with double-digit growth in the bottom line on strong growth in assets under management (AUM) and net interest income. Here are the top five takeaways from the lender's Q3FY23 earnings: Strong net profit The non-banking finance company’s standalone profit after tax (PAT) rose 36 percent on-year to Rs 2,624 crore in the December quarter. While, the consolidated PAT for Q3 FY23 increased by 40 percent to Rs 2,973 crore from Rs 2,125 crore in Q3 FY22. Read More The net profit is largely in line with analysts’ estimates. The average estimate of a poll of five … [Read more...] about Bajaj Finance Q3 results: Here are five key highlights

The average estimate of a poll of five brokerages by Moneycontrol had put Bajaj Finance’s net profit at Rs 2,928 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bajaj Finance Ltd reported on January 27 a consolidated net profit of Rs 2,973 crore, a jump of 40 percent year-on-year (YoY) for the December quarter, largely in line with analysts’ expectations. The average estimate of a poll of five brokerages by Moneycontrol had put the lender’s net profit at Rs 2,928 crore for the quarter compared with Rs 2,125 crore reported in the corresponding quarter a year ago. On a standalone basis, the non-bank finance company's net profit grew by 36 percent to Rs 2,624 crore. The net profit surge comes on the back of a healthy growth in disbursements that lifted net interest income by 24 percent to Rs 7,435 crore for the December … [Read more...] about Bajaj Finance Q3 net profit surges 40% to Rs 2,973 crore, meets estimates

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Syngene International Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma/chemical companies offering integrated scientific services from early discovery to commercial supply. Syngene serves these players, which outsources some or substantial part of its business in the product development life cycle and operates via full time equipment (FTE) and fee for services (FFS) models • Discovery services: FTE engagements with high renewability; dedicated services: long-term strategic alliances that last usually five years or more, Development and manufacturing: FFS engagements, which increase in volume/scale over time. Outlook Downgrade from BUY to HOLD as the stock fully reflects strong … [Read more...] about Hold Syngene International; target of Rs 610: ICICI Direct

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on Maruti Suzuki MSIL reported a strong beat in 3QFY23, driven by better mix (8% beat on ASPs) and higher other income. Recently launched products to reflect in P&L from 1QFY24; commodity price benefit largely reflected in 3QFY23; and the impact of adverse JPY is expected to reflect from 1QFY24. We expect continued improvement in performance and response to new products to act as catalysts for the stock. Outlook We upgrade FY23 EPS estimates by 14% to reflect the benefit of mix and higher ‘other income’, but reiterate our FY24 estimates as the mix benefit is offset by the Fx impact. We reiterate our Buy rating with a TP of INR10,500. For all recommendations report, click here Read More Disclaimer: The views and investment tips … [Read more...] about Buy Maruti Suzuki; target of Rs 10,500: Motilal Oswal

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on PNB Housing Finance PNB Housing Finance (PNBHF) reported a healthy 3QFY23 with PAT growth of 43% YoY to ~INR2.7b (24% beat). This was driven by ~55bp QoQ expansion in margin and lower CIR of ~16%. The 9MFY23 PAT rose 15% YoY to ~INR7.7b. NII jumped 73% YoY to INR7.2b aided by slower increase in CoF, quicker transmission of interest rates to customers and net positive impact of ~INR790m from the assigned loan pool. PPOP surged 76% YoY to INR6.74b. Asset quality improvement was driven by decline in both retail and Corporate GNPA. Total GNPA/NNPA stood at ~4.9%/3.2% (% of Loan Assets) and declined 120bp/50bp QoQ, respectively. Retail GNPA improved ~50bp sequentially to 2.9%. Corporate GNPA improved to 27% (v/s 30% QoQ) aided by write-off of a large NPA account. … [Read more...] about Neutral PNB Housing Finance; target of Rs 600: Motilal Oswal

Nykaa stated that currently, P Ganesh is CFO at TAFE Group.(Representative image) Nykaa, which is operated by its listed parent company FSN E-Commerce Ventures , on January 23 said that it has appointed P Ganesh as the company's chief financial officer (CFO) with effect from February 3, 2023. Currently, he is CFO at TAFE Group. Prior to TAFE, he has held leadership roles in India and overseas with the Godrej Group, Glenmark Pharma and Pidilite. As per the company's regulatory filing, P Ganesh is a Chartered Accountant, Cost and Management Accountant and Company Secretary and has over 27 years of "rich industry experience in domestic and international markets." Commenting on the appointment,  Falguni Nayar, Founder and CEO, Nykaa, said, “We are pleased to welcome Ganesh to our leadership team and be part of Nykaa’s growth story that will benefit from his rich financial experience. His knowledge about the Indian financial market and insights into International markets will … [Read more...] about Nykaa appoints P Ganesh as CFO effective February 3

TCE is one of Europe’s leading producers of sodium carbonate, salt and sodium bicarbonate (Representative image) Tata Chemicals Europe (TCE) and Vertex Hydrogen have signed an offtake agreement for the supply of over 200 megawatts of low carbon hydrogen, according to a press release on January 26. Under the new pact, Vertex will supply TCE with hydrogen as the chemicals manufacturer continues to decarbonise its operations in the UK with a target of achieving “net zero” manufacturing by 2030. “We have been supporters of Vertex and the low carbon hydrogen segment as a real opportunity to further reduce emissions at our world class CHP facility," TCE Managing Director Martin Ashcroft said. Also Read | Essar Oil UK inks offtake deal with Vertex Hydrogen Vertex Chief Executive Officer Joe Seifert said the company is "thrilled to sign these heads of terms with Tata Chemicals Europe, as an industry leader driving tangible change to reduce emissions". Read More … [Read more...] about Tata Chemicals Europe inks pact with Vertex for low carbon hydrogen supply

An Air India aircraft. As the Tata group completes the first year of taking over Air India, the airline on Friday said it is finalising a historic order of new aircraft while the airline's chief Campbell Wilson highlighted that the carrier's progress has been quite remarkable. Stepping into the second year of Air India 2.0, Wilson, in a message to employees, acknowledged that there will be challenges along the way and emphasised that more than successes, "it is how we respond to our lapses ... that will define us". The airline has put in place a roadmap under Vihaan.AI for transformation over the next five years and has taken various measures, including committing USD 400 million to refurbish the interiors of its entire wide-body fleet. However, in recent weeks, the carrier has faced certain headwinds related to the unruly behaviour of passengers onboard two international flights and has also been penalised by the aviation regulator DGCA. Listing out major initiatives, … [Read more...] about Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order