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 […]
Dixon Technologies, India’s largest electronics manufacturing services company, is making a decisive push into laptop and tablet manufacturing to capitalize on the massive market opportunity arising from the government’s increased impetus on domestic electronics production and import curbs on foreign brands. During its recent quarterly earnings call, Dixon Technologies stated that it has filed an […]
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 […]
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 […]
Even as the housing markets in major economies such as the US, China, the UK and Canada seem to have entered their worst phase in 15 years, things couldn’t be different in India. In the South Asian nation, housing demand never really recovered fully after the COVID-19 pandemic, but are starting to revive now. According […]
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 […]
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 […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
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 […]
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 […]
US Treasury yields have been climbing higher in recent weeks, with the benchmark 10-year yield surging to over 4.9% on Wednesday – its highest level since 2007. This relentless rise in bond yields reflects growing angst in financial markets about several key issues: the Federal Reserve’s monetary tightening path, stubbornly high inflation, bulging government borrowing […]
Royal Enfield, the two-wheeler division of Eicher Motors, is preparing for an exciting lineup of new motorcycle launches over the next few years. With a rich 120-year history and a strong heritage in building classic styled motorcycles, Royal Enfield has seen a resurgence in popularity and sales growth in recent years. However, it is also […]
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 […]
Motilal Oswal Financial Services has come out with a list of five stocks that can help investors ride the wave of growth as India emerges as a derisking option to China in the manufacturing supply chains of American, Japanese and Korean companies. These companies have been forced to look for an alternative to China after […]
Nuvama Research has doubled its dividend estimate for National Mineral Development Corporation (NMDC) to Rs 15 per share for FY2024 citing the company’s strong free cash flow generation and robust balance sheet. In its latest research report, Nuvama estimates NMDC to generate free cash flow of INR 85 billion in FY2024 and INR 50 billion […]
The mutual fund industry maintained its growth momentum in September 2023 despite some moderation in inflows into equity funds. Total assets under management (AUM) of the industry stood at Rs.46.6 trillion at the end of September, largely unchanged from August 2023 levels. Equity and equity-oriented funds, which make up the largest component of mutual fund […]
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 […]
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 […]
This is the first of a multi-part series on cryptocurrency, examining the dream and promise behind cryptocurrency, the evolution of the technology, the challenges faced by it on the way, and finally, its future. You can read the second part here. Cryptocurrency: The Dream In 2008, in the midst of the global financial crisis, a […]
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 […]
