Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Prabhudas Lilladher's research report on Maruti Suzuki We increase our EPS estimates by 6/3/1% for FY23/24/25 as we build in higher realisations led by improved product mix along with volumes for newly launched Jimny and Fronx. In 3QFY23, Maruti’s (MSIL) EBITDA margin at 9.8% expanded 50bps QoQ led by (1) better-than-expected realisations (Rs 623k, +8% QoQ) driven by increased contribution from UVs (21% vs 16% sequentially) and (2) benefit from raw material cost softening (+40 bps QoQ). The company currently has order book of 363k units of which ~33% is contributed by new models – Brezza, Vitara, Baleno. Newly launched Jimny (off-roader) and Fronx (compact SUV) have also received good response and deliveries are expected to commence from beginning of FY24. This will lead to increased … [Read more...] about Buy Maruti Suzuki; target of Rs 10,600: Prabhudas Lilladher
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Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on ICICI Lombard General Insurance Company ICICI Lombard reported PAT of Rs. 346 crore (up 9% y-o-y/ down 41% q-o-q) which missed our estimates mainly due to lower investment income and lower premium income. Underwriting loss stood at Rs. 293 crore in Q3FY23 versus a loss of Rs.269 crore in Q3FY22 and loss of Rs. 152 crore in Q2FY23. Gross written premium grew by 17% y-o-y/5.6% q-o-q led by faster growth in commercial lines and Retail/group health segment; while motor business was a laggard with 5% y-o-y growth due to 1% y-o-y growth in Motor OD. Motor TP premium grew by 10% y-o-y. Retail health premium picked up, grew by 24% y-o-y & Group Health grew by 57% y-o-y. The combined ratio was at 104.4% vs 104.5% in Q3FY22 and 105.1% in Q2FY23. Claims ratio decreased … [Read more...] about Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan
Buy Saregama India; target of Rs 430: ICICI Direct
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Saregama India Saregama India (Saregama) is India’s oldest music label with ~1.42 lakh songs across various languages, which is monetised over various formats such as digitals (streaming, YouTube), physical (Carvaan) and television. Apart from music, it is also into TV serials /(Tamil), creates low budget films as well as web series for OTT platforms through Yoodlee Films and has artists and events management business. Outlook We expect digital monetisation to provide sustained growth momentum. Accelerated opportunity fructification in new areas like web series, artist management, etc, can provide further positive surprise. We maintain BUY. We value at Rs 430, 30x FY25 P/E. For all recommendations report, click here Read More … [Read more...] about Buy Saregama India; target of Rs 430: ICICI Direct
Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order
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