To reduce vertical/client concentration and to ensure steady organic revenue growth, Cyient diversified/increased its offerings – services/clients/geographic footprint in FY23 via acquisitions. It is moving towards building an efficient organization with an increased management bandwidth to benefit from its wider offerings.
JFL delivered a muted performance lead by multiple factors: 1) underperformance in Dine-in and Takeaway (9.8% combined growth), 2) Flat LFL growth (0.3% in Q3 FY23 as compared to 8.4% in the previous quarter), 3) Steep inflation in major Raw material – Cheese lead to sharp contraction in Gross margins (230bps), and 4) High competition at lower price points. The company has added 60 new stores in 16 new cities maintaining guidance for annual store addition of ~250 stores.
Since the last result, the prices have corrected till Q1: 22-23 result range and Pivot level of 1,040. Till Cipla sustains above these levels chance of bouncing back is very high. One can start buying in Cipla above 20EMA that is 1,078.
Home First reported a robust performance both on profitability front and balance sheet front. The company witnessed a continued momentum on the disbursements at ? 780 Cr, up from ? 569 Cr in Q2 FY23 (Growth of 37% YoY and 11.1% QoQ). The AUM saw a robust growth at ? 6,751 Cr from ? 4,994 Cr, grew by 35.2% YoY and 7.6% on QoQ basis.
The Maruti has shown a profit booking post last result. In the process, range of the Q1: 22-23 has also broken down. Currently, it is just above the Yearly pivot level and 50 EMA. If it hold current levels post Q3 result, then moving towards 8,960-9,468 is possible.
CIFC is a high-quality franchise that combines strong growth with robust profitability. Its strong and competitive positioning in its traditional and multi-product vehicle finance segments has given it a strong growth edge as vehicle finance momentum returned post- Covid pandemic and should sustain broadly despite some near-term adverse sentiments in sub-segments.
Since Q2: 21-22, there have been overlapping three quarters. Last quarter Axis bank has shown a breakout from the range. The higher level of Q2: 22-23 has touched a couple of times after the Q2 result. But every time, there is a bounce till the yearly pivot (R1) resistance of 967 levels. So, after the results, one can expect to continue with an uptrend. If the 967 level gets breached, then moving toward 1,047 will start.
The Ultratech Cement has completed an ‘Inverted Head and Shoulder’ pattern, very bullish and in a throwback, the neckline has tested. The overlapping zone, Q1 and Q2 21-22 is working as resistance. Once this zone gets cut, there will be a strong up move. The current trend is bullish.
Currently, the Kotak bank is moving in within the overlapping range. There is ‘Double Bottom’ pattern between 1,626-1,631 levels in the Q1: 21-22 range and the current prices are just above this range. The S1 pivot point is at 1,678. So, the buying on dip opportunity is visible in Kotak bank. Any sell-off near to 1,678 to 1,626 should be utilize to add the position.
We find Mphasis much better placed compared to peers with a handle on its operating parameters and a risk reward that is tilted favourably (since MPHL is available at relatively cheaper valuations compared to peers).cheaper valuations compared to peers).
