New Research Reports

In our view, better days are ahead for the bank in terms of asset quality going forward. Large part of restructured assets has already been recognized as NPA by the bank (5.8 bn, down 77% in 4 yrs). Of this 5.8 bn of restructured stock, 2.8 bn is exposure to Air India and balance 3 bn are...

KNR Constructions (KNR) has the rare distinction of being a wealth creator in India's beleaguered infrastructure sector.

We met the management of Singer India (SIL) to get an insight into its business and future plans. Established in 1977, SIL is India's second largest household sewing machines manufacturer/marketer with an organised market share of ~42%. After getting discharged from BIFR, SIL has strengthened its core business and increasingly focused on diversifying into consumer durables (mainly home appliances). Diversification into the appliances category is to leverage old brand Singer and slow growth of the sewing machine industry. The sewing...

For December 2018, volumes for the Automobile Industry came in flat or registered decline across segments, with the CV segment recording the highest decline mainly due to a high base impact, coupled with the ongoing liquidity challenges in the segment. Despite high consumer offers, volumes for the 4W segment remained more or less flat. As for the 2W segment, HMCL witnessed a 4% YoY dip while growth for BJAUT / TVS was driven by consumer offers / new launches respectively. Tractors too saw a weak month. Overall consumer sentiment continues to remain weak, with all time high consumer offers also...

For December 2018, volumes for the Automobile Industry came in flat or registered decline across segments, with the CV segment recording the highest decline mainly due to a high base impact, coupled with the ongoing liquidity challenges in the segment. Despite high consumer offers, volumes for the 4W segment remained more or less flat. As for the 2W segment, HMCL witnessed a 4% YoY dip while growth for BJAUT / TVS was driven by consumer offers / new launches respectively. Tractors too saw a weak month. Overall consumer sentiment continues to remain weak, with all time high consumer offers also...

Bank of Baroda's (BOB) board has approved the merger with Dena Bank and Vijaya Bank with the following share swap ratios: (a) 402 equity shares of BOB for every 1,000 equity shares of Vijaya Bank and (b) 110 equity shares of BOB for every 1,000equity shares of Dena Bank.

GST Collection drops to Rs 94,726 crore in December Most Asian markets are trading lower as investors remain cautious as investors take note of data from China that showed manufacturing activity for the month of December contracted for the first time in 19...

We hosted the GOLIL management team Mr Ravi Chawla (MD) and Mr Manish Gangwal (CFO) in Mumbai for investor interaction. Our interaction has reinforced our belief in the management team. According to the management, lubricant business will continue to be driven by distribution,...

Dominant player across business lines at global scale Apar is 3rd largest manufacturer of Conductors and 4th largest manufacturer of transformer oil in the world. In conductors business, its market share stands at 23% in domestic market with installed capacities of 1.8lac MT. It is the largest manufacturer and exporter of conductors from India. In case of specialty oils, its market share stood at 45% with 5.4lac KL installed capacity (including 1lac KL capacity overseas at Sharjah). In FY'18,...

(19% of revenue), UPS (12%), C&W; ( 30%), Pumps (12%), Water Strong return ratios & Debt free BS to aid inorganic growth heaters (12%), and Fans (10%). Revenues are growing consistently V-Guard's return ratios are strong with ROE in 18-22% range driven at 15% annually very much in line with mgt. Guidance. In H1FY'19, by a combination of asset-light business model with it outsourcing due to exceptional event of heavy floods in Kerala, revenue growth ~ 60% of its production. At the same time, its gross margins are...