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Voltas being a strong brand in the room air conditioner (RAC) segment has maintained its market leadership position in India despite rising competition and various macro level abruptions such as demonetization and GST implementation. Voltas' Unitary Cooling Products (UCP) segment contributes ~50% to sales and recorded ~12% CAGR in FY12-18. A strong brand coupled with over 6,500 dealers has helped increase its market share in ACs from 14% in FY10 to ~21% in FY18. Product mix has improved towards energy efficientinverter RAC segment as inverter AC currently...
grew by 4.0% YoY from sectors like petroleum, cement, construction but industry ex-infra grew by only 1.5% YoY and as few risky sectors have been seeing recovery in growth like power which saw 5.4% YoY growth (2x of...
grew by 4.0% YoY from sectors like petroleum, cement, construction but industry ex-infra grew by only 1.5% YoY and as few risky sectors have been seeing recovery in growth like power which saw 5.4% YoY growth (2x of...
GST cut on movie tickets likely to give impetus to industry: In the Goods and Services Tax (GST) Council meeting held on December 22, 2018, the government has reduced the GST rate on cinema tickets costing more than Rs. 100 to 18% from 28% and for tickets below Rs. 100 to 12% from 18%. The new GST rates are likely to be implemented from January 1, 2019. With...
Strong free cashflow and limited capex in the near term could result in high dividend payout in FY2019 and FY2020: We expect PLNG to generate free cashflow of ~Rs. 1,848 crore in FY2019E and ~Rs. 2,692 crore in FY2020E. However, capex would be limited for Dahej terminal expansion, as the start of the investment in the overseas foray (Bangladesh and Sri Lanka)...
The U.S. markets ended higher following mixed performance in the previous session amid lack of any fresh triggers for the markets. The Dow Jones gained 265 points or 1.2% to close at 23,327 while NASDAQ gained...
Government turning towards PSU's cash for the increasing funds requirement; Opportunity for the Investors; For Stock Selection; For Scenario Analysis of potential Candidates
Lastly, despite 44.7% YTD decline in equity inflows from the cyclical highs of FY18 (net equity inflows of Rs 2.6tn, +154% YoY), SIP inflows have continued at an average monthly pace of Rs 76bn. Recent market uncertainties (global and local) have hit stock prices. We believe CMPs provide attractive entry points for investors. With a total penetration level of just 11% (equity 4%, debt 7%), we believe that Indias mutual fund industry remains under-penetrated. We expect financialisation of savings to grow at 9.7% CAGR over FY18-30E. This provides Asset Management Cos (AMCs) and investors a structural growth opportunity.
GRUH primarily provides home loans to individuals and families, especially in the lower-income group in the rural and semi-urban areas, for purchase, construction, extension, repair and renovation. NII increased at a modest pace of 9% YoY in Q2FY19 mainly due to 27 bps Asset quality continues to remain broadly stable as Gross NPA ratio increased marginally by 2 bps QoQ (21 bps YoY) to 0.9% as of Q2FY19. We project Gross/Net NPA ratios at 1.0%/0.5% by FY20E. Though we like GRUH in the HFCs space, the current stock price has...
