Karvy Broker Research reports

Outlook and Valuation: We expect the valuations to continue to be at a premium the segment, size andthe market share of the company.

Valuation and Risks: Good brand recognition, market share and being amongst the very few companiesin the listed space in footwear, the company would continue to hold premiumvaluations.

Outlook and Valuation: Currently the stock is trading at very stretched valuations and way beyond fundamentals as the markets are pricing in qualitative factors like solid fundamentals, strong competitive moat, value unlock potential in some of the investments, which will take some time to reflect in the numbers.

RBI on August 6 announced one-time debt recast dispensation for banks and NBFCsfor corporate and personal loans to deal with the covid-induced stress.

Valuation and Risks: We favor HDFC Bank for its resilient asset quality, consistent performance acrosscycles, best-in-class cost-efficiency ratios and high capital base. We re-initiate coverage on HDFC Bank with BUY rating based on SOTP valuation of Rs. 1323, upside of 18%.

Credit growth continues to remain subdued despite availability of ample liquidity with banks.

As the auto industry gets accustomed to the new normal, it continues to post month-on-month improvement in volumes.

Valuation and Risks: The stock has traded at an average valuation of 14x in the past 5 years, While the results were not impressive, the balance sheet strength (in comparison with peers) and the focus on diversification plans that were already underway (in termsof geography) gives us confidence that the company can weather the period andare better placed to come out of this without having to reinvent itself.

Valuation and Risks: We upgrade our Revenues for FY21E/FY22E by 0.9%/0.7% to Rs. 13.3 Bn / Rs. 16.8 Bn due to upgrade in US markets.

In its RBI policy meet on August 6, 2020, RBI announced one-time debt recast for personal loans and corporate debt and extended MSME debt recast deadline.