Choice India Broker Research reports

Salasar Techno Engineering Ltd. (STEL) is a provider of customized steel fabrication and infrastructure solutions in India. Its products include telecom & power transmission towers, smart lighting poles, solar module mounting structures etc. The issue is a fresh issue. The company will be utilizing around 90%...

South Indian Bank Ltd. (SIB), established in 1928, is one of the oldest bank in India which came into the existence during the swadeshi movements and was the first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. With a branch network of 850, 50 extensive counters and 1,320 ATMs, SIB has enhanced its presence across India. The business of SBI is growing at a good pace attaining a balance sheet size of Rs743 bn in FY17 with a five year CAGR of 10.5% in total assets, 10.3% in business size. We initiate coverage on SIB with a BUY' rating at a...

The management has indicated that the company may face challenges in the near term owing to an increase in domestic cotton prices and appreciation of the rupee against other currencies. However, a higher proportion of fabrics in revenue would provide stability to the margins. With its new printed fabric capabilities, Vardhman has entered into women's tops and expanded the range for men's shirts fabrics. This entry will likely help the company to attract new customers and acquire new orders from existing customers as well. Moreover it will reduce volatility which arises due to cotton as manmade fibre is used in this and will also lead to...

RSWM Ltd. (RSWM), the flagship Company of the LNJ Bhilwara Group established in 1961, is one of the largest textile manufacturers in the country, primarily producing the best quality of yarns like synthetic, blended, mlange, cotton, specialty and value added yarns suitable for suitings, shirtings, carpet, denim, technical textiles and industrial applications. The main competitive strength of the Company is its innovative product range that includes specialty, functional and technical yarns and fabrics. RSWM is the largest manufacturer and exporter of synthetic & blended spun yarns from India....

accounts, current accounts, recurring deposits and other sources as Total prescribed by the RBI. Going forward, such access of low cost funding Retail Application Money at Higher Cut-Off Price per Lot would lower the cost of borrowings for the company....

Aro Granite Industries Limited (AGIL) is engaged in the business of granite tiles and slabs. The Company offers granite slabs in various colors, such as regular, Indian and international colors. It offers products in an array of finishes, such as polished finish, flamed finish, honed finish, brushed finish, leather finish and caress finish. The Company processes Indian, African, Finnish, Norwegian and Brazilian granite regularly, and offers slabs as per customer's specific requirement. The Company offers a product line of CUT-TO-SIZE slabs, which are cut according to customized requirement of the user, and are ready for use at the site without any further processing. The Company...

GTPL Hathway Ltd. (GTPL) is a leading regional multi system operator (MSO) in India, offering cable television and broadband services. It is the number one MSO in Gujarat with a market share of...

Over the FY13-17 period ICIL's revenue, EBITDA and PAT have grown at a CAGR of 16.1%, 44.6% and 67.8% respectively. The company's focus going forward for the current year will be towards efficient utilization of all resources, increased global market share in bedding, promote domestic brand pan India. The company has completed phase 1 capex of increasing its capacity expansion from 68 mn meters to 90 mn meters. Under phase 2 capex, the company is awaiting land approvals from regulatory authorities for its in-house weaving capacity. Going forward the management has guided for EBITDA margins of 20%. For FY18, the company's target...

number of demat account with NSDL and CDSL grew at a 5% and 9% CAGR, respectively, over FY11-17. We are of the opinion that with aggressive marketing drive and investor awareness programs,...

Outlook: Manufacturing sector, which accounts for largest share in IIP index further recorded the sluggish growth compared to mining and electricity sector. However, manufacturing growth in April improved to three month high level and is expected to improve further in the coming months. Domestic automobile manufacturing improved to double digit to 10.5% in May'17 (5.9% in April'17) while the manufacturing PMI stood in the expansion phase of 51.6 during the same month. The demand in the economy is expected to improve gradually led by low inflation and interest rates, high likelihood of normal monsoon this year and increasing disposal income of state and central employees....