New Research Reports

REC reported a soft quarter, with moderating growth and disbursement led by higher repayments (including prepayments) and NPA resolutions, while margin and asset quality were stable.

KBL reported a 12% PAT miss in 4Q at Rs2.5bn, due to lower margin (down by 4bps QoQ to ~3%) and higher staff costs owing to higher actuarial provisioning on retirement benefits of Rs1.1bn.

Retail Research

Retail Research

Tata Power reported a good set of result in Q4FY25. EBITDA came in at INR 34.8bn (+27% YoY) driven by strong performance in renewables segment – solar manufacturing and renewable generation, coupled with strong show by Odisha discoms.

Retail Research

End of Day Summary

We expect the demand environment is likely to remain weak in coming quarters while increasing competition intensity in the sector will impact the outlook. we further reduce FY26/FY27 earnings by 7/8%, respectively....

Going ahead, demand from the real estate and construction sectors will drive volumes of cables & wires. Further, The recent changes in income tax slab rates are anticipated to boost discretionary spending. While restocking and seasonal factors will drive overall growth going ahead....

The company is currently facing challenges due to the new accounting standards and a surge in claim frequency and severity, which are affecting its profitability. However, recent price adjustments are expected to mitigate the impact of rising medical costs and hospitalisation trends, potentially leading to a gradual decline in the claims ratio over the next few quarters. A potential reduction in expense ratios and stable commission ratios are expected as the company grows. Additionally, the company is adopting a targeted approach by focusing on specific market segments...