Lodha Delivers Strong Q2 Results Amidst Improving Real Estate Market Conditions

Real estate developer Lodha Group reported its best ever quarterly pre-sales of Rs. 35.3 billion for the second quarter of FY2024, registering a 12% year-on-year growth despite Q2 being traditionally the weakest quarter. The company’s strong performance comes on the back of improving real estate market conditions since the Covid-19 pandemic. Lodha has rebounded strongly […]

Indian Hotels reports strong Q2 as demand continues to grow

Tata Group’s Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced strong financial results for the second quarter ending September 30th, 2023, marking the sixth consecutive quarter of record performance. IHCL’s revenue grew 18% year-on-year to Rs 1,481 crores, EBITDA jumped 26% to Rs 402 crores with margin expansion of 180 basis points, and […]

Analysts Slash Jubilant Foodworks’s Outlook After Poor Q2 Show

Jubilant Foodworks (JFL), which operates Domino’s Pizza and Dunkin’ Donuts chains in India, has seen a sharp 5% decline in its stock price as analysts downgraded the stock after its poor second quarter numbers. The company reported a 4.5% year-on-year (YoY) rise in revenues to Rs 13,448 million, while net profit declined 39.5% YoY to […]

Torrent Pharma’s Q2 Results Draw Mixed Reactions From Brokerages

Analysts have given mixed reactions to Torrent Pharmaceuticals, which reported a 16% year-on-year increase in second-quarter revenue to Rs 26,600 crore, more than half of which came from India. Kotak and JM Financial have remained cautious on Torrent Pharma with unchanged ‘REDUCE’ and ‘HOLD’ ratings respectively. While JM Financial has not outlined estimate changes, Kotak […]

Voltas Q2 gets a thumbs down from analysts

Voltas’ second quarter results failed to meet brokerage expectations, prompting several firms to cut their ratings, estimates and price targets on the stock. The company’s profitability was impacted by continued losses in its electromechanical projects and services (EMPS) business, which is closely aligned to the construction sector. Analysts acknowledged the company’s growth potential but see […]

Havells India sees estimates, target cuts from analysts after poor Q2 results

The second quarter results announced by Havells India (HAVL) have elicited broadly negative reactions from brokerages, with most downgrading earnings estimates and price targets. The primary factors responsible for the disappointing results and outlook are softness in consumer demand, elevated competitive intensity, and continuing losses in the Lloyd business. JM Financial cut its FY24 and […]

HUL gets rating downgrades, target cuts after Q2 results

Brokers have revised their ratings, estimates and price targets on consumer packaged goods company Hindustan Unilever Ltd after the company’s second quarter results. Most brokers have turned cautious in their outlook and revised down earnings and target prices, only one, Antique Stock Broking, has downgraded significantly by moving their recommendation to ‘HOLD.’ The Q2 miss […]

ANALYSIS: HUL Delivers Strong Q2, Margin Expansion Despite Challenging Environment

Hindustan Unilever Ltd (HUL), India’s largest fast-moving consumer goods company, on Thursday reported a resilient performance for the second quarter of fiscal year 2023, beating analyst estimates on bottomline and operating profit. HUL’s net profit rose 4% year-on-year to Rs 2,717 crore, surpassing analyst expectations of Rs 2,570 crore. Net sales grew 4% to Rs […]

Indian Consumer Goods Companies Set for Muted Q2 Results Amid Slow Demand, High Inflation

Major Indian consumer packaged goods (CPG) companies are expected to report muted growth for the September quarter amid slowing demand, particularly in rural areas, and persistent high inflation, according to research reports from leading brokerages. Demand, Volume and Revenue Growth Brokerages forecast muted revenue growth for consumer packaged goods (CPG) companies in Q2FY24 amid slowing […]

Why is CLSA bullish on India despite stretched valuations?

Hong Kong-based brokerage CLSA has raised its recommendation on Indian equities to a 20% overweight, up from a 40% underweight previously. This makes India the most preferred market within CLSA’s Asia ex-Japan portfolio. The upgrade was funded by lowering exposure to China and Australia. With this, CLSA’s portfolio now deviates considerably from MSCI’s Asia ex-Japan […]

Analysts Still Bullish on Zomato Despite Sharp Run-Up in Stock

Zomato’s stock has seen a sharp run-up of over 120% from its 52-week lows in February 2023, leading to worries of overheating and over-valuation. However, analysts remain bullish on the long-term prospects of the food delivery platform. In a recent report, ICICI Securities said Zomato remains their top pick in the Indian internet space. They […]

HDFC Sec reiterates SELL on Trent on ‘heady valuations’ despite strong growth

Mumbai-based brokerage HDFC Securities has reiterated a SELL rating on retail giant Trent Ltd with a target price of Rs 1,370 — 33% below the current price — even as it acknowledged the company’s strong growth in recent years. Trent has been one of the most exciting retail growth stories in India, growing at a […]

Indian IT Services To Report Muted July-September Quarter Amid Macro Headwinds

The Indian IT services sector is expected to report another muted quarter for July-September 2023, as macroeconomic uncertainties continue to weigh on technology spending by clients. Leading brokerage firms predict the sector will post modest sequential revenue growth amid soft demand environment, with growth in the range of only 0%-1% on the quarter. “We expect […]

Federal Bank Gets Credit Rating Upgrade From Care Ratings

Care Ratings has upgraded the credit rating of Federal Bank’s bonds from AA to AA+ on continued improvement in the bank’s overall business, diversification of loan portfolio, better profitability and stable asset quality. Federal Bank is one of the oldest private sector banks in India with over 80 years of operating history and is a […]

Will E-Commerce Kill The Malls? Not According To JM Financial

One of the hottest topics of debate in investment circles in recent years has been around the disruption caused by e-commerce to brick-and-mortar entities. Many experts have warned that the rising popularity of e-commerce giants like Amazon would inflict a heavy toll on brick-and-mortal retailers, leading to downgrades of organized retailers and mall operators — […]

Major Decisions Taken By RBI MPC in October 2023 Meeting

The Reserve Bank of India (RBI), the country’s central bank and banking regulator, today announced major policy decisions taken at its bi-monthly monetary policy review meeting held during 3rd to 5th October. While the RBI’s Monetary Policy Committee (MPC) kept key rates unchanged in its rate setting review, the policy measures announced cover significant areas […]

Sun Pharma Invests Rs 32 cr in Two Healthcare Startups

Sun Pharmaceutical Industries Limited, India’s largest pharmaceutical company, has announced equity investments in two healthcare startups – Ezerx Health Tech and Agatsa Software. The pharmaceuticals company said these companies possess innovative technologies in areas of pharma and healthcare. As per a regulatory filing, Sun Pharma has entered into an agreement to acquire 37.76% stake in […]

CARE Ratings Upgrades Yes Bank on Improved Opg Metrics

Credit rating agency CARE Ratings upgraded Yes Bank’s long-term debt instruments citing improved operating metrics, including the recent restructuring of the banks shareholding. The rating agency has revised the ratings on Yes Bank’s infrastructure bonds and Tier II bonds to ‘CARE A; Positive’ from ‘CARE A-; Positive’. CARE said the revision factors in continued growth […]