Chola Wealth Direct Broker Research reports

Indian shares gave up early gains to end notably lower amid worries about commodity-led inflationary pressures, as Russia faced severed global backlash over its full-scale attack on Ukraine. The Ukraine war triggered a dash for commodities that could be in short supply. Everything from coal to natural gas and aluminium are...

European stocks closed on a firm note with investors indulging in some bargain hunting after recent losses Despite lingering geopolitical tensions between Russia and Ukraine, worries about rising inflation and the economic impact of sanctions on Russia. US stocks moved sharply higher during trading offsetting the steep drop seen in the previous session. The major averages all showed substantial moves back to the upside on the day. Asian stocks fell broadly as nervous investors shifted money into...

Indian shares ended a choppy session notably higher as optimism over talks between Russia and Ukraine outweighed concerns over banning Russia from the Swift financial system. The Russian ruble collapsed in value and Brent oil rebounded back above $100 per barrel as President Vladimir Putin put his country's...

After suffering a severe setback that extended its losing streak to a seventh straight day, the Indian stock market came back strongly and ended on a buoyant note on Friday. Hectic bargain hunting at several counters from across various sectors, slightly easing concerns about the impact of the Russia-Ukraine conflict on the Indian economy, and an upward revision in India's growth...

Investors fled towards safe-haven assets and Brent prices finally surged above $100 per barrel for the first time in last seven years as Russian President Vladimir Putin announced a military operation in Ukraine,...

Background: VA Tech Wabag is a leading MNC in the water treatment space. The company has vast experience in plant building, planning, execution and operation of drinking water plants and waste water plants for both municipal and industrial sectors. The company has a multinational pedigree and offers customer specific solutions. The company has about 100+ patents which include both products and process patents and Wabag Austria has 51 patents that are awaiting...

Background: Motherson Sumi Systems Limited (MSSL) is one of the world's leading, specialized automotive component manufacturing companies for OEMs. MSSL was established in 1986 as a joint venture with Sumitomo Wiring Systems. With a diverse global customer base of nearly all leading automobile manufacturers globally, the company has a presence in 36 countries across six continents. MSSL is currently the largest auto ancillary in India and among the Fab SO companies of India. As a part of re-organization strategy, MSSL has de-merged its Domestic Wiring Harness (DWH) business into a separate entity named as Motherson Sumi...

Segment wise performance: Cotton seed volumes fell 26% YoY to 5.2m packets in 9MFY22, leading to a 24% decline in revenue to 3.3bn. KSCL gained cotton seed market share in Gujarat, Maharashtra and Haryana, while it lost share in Andhra Pradesh and Telangana. Volume contribution from new products in Maize segment rose to 25.5% from 9.5%. Maize seed volumes dropped by 24% to 7,649MT and revenue declined by 13% to 1.6bn in 9MFY22. Hybrid rice volumes increased 22% after introduction of its new products such as KPH471, KPH473, and KRH7299 leading to 32% revenue growth to 1.7bn. Selection rice volumes rose 7% 9MFY22 to 14,641mt while revenue grew by 21% to 1.2m....

Background: Repco Home Finance Limited (RHFL) is a low to medium ticket size home loan financing company predominately based in tier II / III cities of southern India. Promoted by the State-owned Repco Bank Ltd in 2000, RHFL presently has 155 branches and 24 satellite centers of which ~87% are located in the southern market. Repco has shown robust growth in its loan book clocking 21% CAGR (FY13-FY19) and stood at ~117bn at the end 3QFY22. RHFL average loan per unit is...

Background: Page Industries is the exclusive licensee of Jockey International Inc (USA) to manufacture and distribute Jockey brand in India, Sri Lanka, Nepal, Bangladesh and UAE till 2040. They broadly operate in premium men's innerwear; women's innerwear and leisure wear segments. Jockey enjoys high brand recall and they spend ~5% of their annual sales for brand building and promotional activity, which enables them to dominate most of the segments in which they operate. They are also exclusive licensee of Speedo swimwear brand in India. Page has network in ~250 cities and ~760 exclusive brand outlets in India. They...