Promoted by Mr. Sadashiv K Shetty and Mr. Raghuram K Shetty, Heranba Industries Ltd. is an integrated player (intermediates, technical and formulations) in crop protection business. It is a market leader of synthetic pyrethroids in India with market share of ~20%. Leveraging its cost leadership status, the company plans to commercialize few molecules (2 fungicides, 2 herbicides and an insecticide) which are going off-patent. Garnering own registrations & for distribution partners in overseas markets of Europe & NAFTA (2 received, 3 pending), ramping up formulation business (59%...
Promoted by Mr. Sadashiv K Shetty and Mr. Raghuram K Shetty, Heranba Industries Ltd. is an integrated player (intermediates, technical and formulations) in crop protection business. It is a market leader of synthetic pyrethroids in India with market share of ~20%. Leveraging its cost leadership status, the company plans to commercialize few molecules (2 fungicides, 2 herbicides and an insecticide) which are going off-patent. Garnering own registrations & for distribution partners in overseas markets of Europe & NAFTA (2 received, 3 pending), ramping up formulation business (59%...
Renewed Master Supply Agreement (MSA) with ACC for the next 3 years. Ambuja Cement (ACEM) delivered strong set of Q4CY20 earnings with 9%/5% beat on our/consensus EBITDA estimates. The beat was driven by better than expected realisations and lower costs....
Highly modular nature of capex with initial focus on CNG to ensure high ROCE. We hosted four CGD players, a retired policy expert and a Morbi based ceramic major to understand growth drivers for City Gas Distribution (CGD) sector. All CGD participants were extremely positive on growth prospects and expect accelerated development ahead. We sensed that the recent regulatory clarifications added to their comfort. Steep discounts to petrol and diesel is driving CNG volumes and overall margins for CGDs. The CGD players are fairly confident in meeting their aggressive Minimum Work Programme...
On the other hand, Equity Mutual Funds continued to witness outflows. Jan'21 outflow in open ended Equity Funds was Rs.9,253 Crores. Risk averse investors continued booking profits and parking their funds in overnight & short duration funds. International Monetary Fund (IMF) in its World Economic Outlook report of January'21 forecasted 11.5% growth for Indian Economy in 2021 and revised 2020 economic contraction to 8% from its earlier projection of 10.3% (a positive revision). In our report, MF Equity & Debt The Way Forward we summarize how fund managers are reacting to the market. We consolidate and share their views and investment strategies on...
Delay in order finalization leads to 45% decline in OI, but healthy ordering visibility seen in both domestic and international markets. GE T&D; (GETD) reported strong quarterly performance led by stellar execution, cost rationalization measures and higher other income. Sales grew by 10% YoY as manufacturing and project sites were operating at full capacity. Order inflow decline 45% to Rs6.9bn owing to delay in order finalization. Order book stood decent at Rs49bn (excluding L1 Rs3bn)...
Highly modular nature of capex with initial focus on CNG to ensure high ROCE. We hosted four CGD players, a retired policy expert and a Morbi based ceramic major to understand growth drivers for City Gas Distribution (CGD) sector. All CGD participants were extremely positive on growth prospects and expect accelerated development ahead. We sensed that the recent regulatory clarifications added to their comfort. Steep discounts to petrol and diesel is driving CNG volumes and overall margins for CGDs. The CGD players are fairly confident in meeting their aggressive Minimum Work Programme...
IIB's promoter has taken a leap ahead to convert its due warrants of Rs20.2bn at premium of 62% from CMP, although warrants issued in Q1FY20 were also at 18% premium. Infusion of money will increase promoter stake to 15%, add 3% to BV, improve capital by 4-5% with CET-I moving to ~16% from 14.3% in Q3FY21. Promoter has pledged its holding in IIB of 5.64% (Rs40bn on Mcap) looking for acquisition/strategic investment to convert promoter holding entity (IIHL) into listed operating entity outside India by Sep'21 and provide exit to its shareholders. Promoters also intends to increase its stake to 26%...
On the other hand, Equity Mutual Funds continued to witness outflows. Jan'21 outflow in open ended Equity Funds was Rs.9,253 Crores. Risk averse investors continued booking profits and parking their funds in overnight & short duration funds. International Monetary Fund (IMF) in its World Economic Outlook report of January'21 forecasted 11.5% growth for Indian Economy in 2021 and revised 2020 economic contraction to 8% from its earlier projection of 10.3% (a positive revision). In our report, MF Equity & Debt The Way Forward we summarize how fund managers are reacting to the market. We consolidate and share their views and investment strategies on...
Highly modular nature of capex with initial focus on CNG to ensure high ROCE. We hosted four CGD players, a retired policy expert and a Morbi based ceramic major to understand growth drivers for City Gas Distribution (CGD) sector. All CGD participants were extremely positive on growth prospects and expect accelerated development ahead. We sensed that the recent regulatory clarifications added to their comfort. Steep discounts to petrol and diesel is driving CNG volumes and overall margins for CGDs. The CGD players are fairly confident in meeting their aggressive Minimum Work Programme...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...
