Research Reports published by MOTILAL OSWAL

Sun TV Network Ltd.    
12 Jun 2021
514.70
-3.08%
Motilal Oswal
Production costs were up 23% YoY on the low base of 4QFY20. However, tight cost measures in employee/SG&A; (down 8%/17%) kept the overall operating cost flattish (up just 1.5%). EBITDA subsequently improved 9% YoY to INR5.5b (in-line); EBITDA margins stood at 69.9% (up 140bps YoY). Net profits were flattish (up 2% YoY) at INR4.5b (6% above estimate) on...
ICICI Securities Limited decreased Hold price target of Sun TV Network Ltd. to 525.0 on 12 Jun, 2021.
137.30
1.67%
Motilal Oswal
With steel prices at a record high, SAIL is poised to post its best ever EBITDA/t of ~INR20,000 in 1QFY22. We upgrade our FY22E/FY23E EBITDA estimate by 71%/33% to factor in higher steel prices, and estimate a further INR102b (INR25/share) fall in net debt to INR265b (1x EBITDA) in FY22E. We expect dividend payout to be strong at INR10/share in FY22E (7.5% yield), based on an expected 25% payout ratio. Reiterate Buy....
Steel Authority of India (SAIL) Ltd. is trading above all available SMAs
TeamLease Services Ltd.    
10 Jun 2021
3610.55
-2.34%
Motilal Oswal
TEAM delivered an in line performance in 4QFY21, with total revenue increasing 5% QoQ. Revenue growth was led by the General Staffing business (+5.5% QoQ) general staffing and NETAP trainee headcount increased by 16k (+8% QoQ). Margin in 4QFY21 were stable, despite an impressive improvement in FTE productivity (352 v/s 334 in 2Q), led by continued customer discounts. It reported an adjusted PAT of INR268m, implying a PAT margin (in line) of 2%. TEAM remains optimistic about a recovery in long term growth. We expect...
HDFC Securities increased Buy price target of TeamLease Services Ltd. to 3950.0 on 10 Jun, 2021.
Tata Communications Ltd.    
10 Jun 2021
1336.70
3.86%
Motilal Oswal
Ambitious targets, but needs to tread carefully TCOM's analyst webinar provided a detailed deep-dive into the global enterprise growth opportunity, management's growth focus, margin outlook,...
Institutional Investors have increased holdings from 19.05% to 31.92% in Mar 2021 qtr.
Brokerage Research Reports    
TREND | 09 Jun 2021
Motilal Oswal
Tata Consumer Products' (TCPL) FY21 annual report focuses on initiatives taken by the management to leverage the Tata' brand in creating capabilities for building a multicategory FMCG company. Some of these strategies include strengthening and accelerating the core business, exploring new opportunities, unlocking synergies, digitizing the supply-chain, product portfolio expansion, and expanding its sales and distribution infrastructure. Key highlights below:...
ICICI Securities Limited released a report for Brokerage Research Reports on 11 Jun, 2021.
Brokerage Research Reports    
TREND | 09 Jun 2021
Motilal Oswal
Tata Consumer Products' (TCPL) FY21 annual report focuses on initiatives taken by the management to leverage the Tata' brand in creating capabilities for building a multicategory FMCG company. Some of these strategies include strengthening and accelerating the core business, exploring new opportunities, unlocking synergies, digitizing the supply-chain, product portfolio expansion, and expanding its sales and distribution infrastructure. Key highlights below:...
ICICI Securities Limited released a report for Brokerage Research Reports on 11 Jun, 2021.
Petronet LNG Ltd.    
09 Jun 2021
232.75
0.43%
Motilal Oswal
Operational fundamentals remain unchanged; capex high on aspirations Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...
Petronet LNG Ltd. average weekly volume is high.
Max Financial Services Ltd.    
09 Jun 2021
1000.60
-1.61%
Motilal Oswal
MAXLIFE continues to demonstrate resilient performance amid a challenging macro environment, led by healthy (36%) APE growth, aided by robust growth in Non-PAR savings and recovery in the ULIP segment. After...
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HDFC Securities downgraded Max Financial Services Ltd. to Accumulate with a price target of 1060.0 on 10 Jun, 2021.
InterGlobe Aviation Ltd.    
08 Jun 2021
1776.40
-0.85%
Motilal Oswal
INDIGO reported an in line ASK (19.2b), PLF (70%), RPK (13.5b), and yield (INR3.7), while miss to our estimates was led by higher fuel cost. Air passenger demand touched a record high in Feb'21 after the lifting of COVID-related restrictions, although the second wave impacted demand in May'21. Cash burn rose to INR190m in 4Q (from INR150m in 3QFY21). Cash burn is expected to be higher in 1QFY22 as daily passenger demand falls to ~80,000 passengers from the highs of ~300,000 at the end of Feb'21. INDIGO expects Feb'21 demand to return by the end of 3QFY22....
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Number of FII/FPI investors increased from 463 to 496 in Mar 2021 qtr.
Alkem Laboratories Ltd.    
07 Jun 2021
3223.50
0.82%
Motilal Oswal
It had a positive impact of higher offtake of COVID-19 associated drugs in the recent past. The reduction in COVID-19 cases, coinciding with seasonal change, bodes well for a pick-up in the performance of Acute therapies. Bunched-up ANDA launches over the next 12-15 months are expected to improve sales growth as well as profitability of the US business. We have tweaked our FY22E/FY23E EPS estimate by 2%/3% and continue to value ALKEM at 23x 12-months forward earnings to arrive at our TP of INR3,730. We remain positive on the back of robust growth in the DF segment and...
Alkem Laboratories L.. has an average target of 3419.80 from 6 brokers.