Equities though volatile, offer long-term wealth creation, and there are several investment routes through which you can participate in the upside, such as Equity Mutual Funds, Portfolio Management Services, Alternative Investment Funds and Initial Public Offerings (IPOs). Fixed income or debt securities offer stability while generating income. Our offerings in Fixed Income space include Debt Mutual Funds, Corporate Fixed Deposits, Nonconvertible Debentures (NCDs) and Structured products. At the same time, it becomes imperative to diversify your assets through alternative investments, such as Real Estate. You can participate in this asset class through...
markets but lacks digital banking. Mobiquity will help HEXW to build digital banking solutions & Omni channel banking capability. Services offered by both companies are complementary to each other rather than competitive. We are estimating 18.7% USD revenue growth for HEXW which includes 24% growth in Mobiquity (USD47mn for 6.5 months) & organic growth of ~13% in CY19E & 18.5% USD revenue growth in CY20E. We cut our EBIT margins by 30bps/50bps for CY19/20E due to higher depreciation and slight lower margin business of Mobiquity. We expect lower other Income Led by USD130m...
Domestic markets remained buoyant with the positive election results as the incumbent government returned to power with an absolute majority. All the domestic indices including large cap, mid and small caps and broader indices gained during the month. The Q4FY19 earnings growth trend for domestic companies was mixed. Overall the results were driven primarily by financials while ex- financial posted weak results. The Nifty 50 and S&P; BSE Sensex were up by 5.97% and 6.30% each, for the month ended June 14, 2019. After a brief correction last month, the Nifty MidCap 100 and Nifty SmallCap 100 gained by 5.66% and 3.78% respectively....
Equity Mutual Funds (including ELSS) reported a marginal rise in inflows in May 2019, bringing in Rs 4,968 crore over the month, as compared to an inflow of Rs 4,229 crore in April 2019. Inflows through SIPs continued to hover over the Rs 8,000 cr mark, at Rs 8,183 cr in May 2019 versus Rs 8,238 cr in April. Aggressive Hybrid Funds and other equity-oriented hybrid schemes, continued to report an outflow, for the fifth consecutive month. As per SEBI data, Mutual Funds turned net buyers of stocks after two consecutive months of selling. Mutual Funds bought Rs 5,164 cr worth of stocks in May 2019, versus a selling of Rs 4,920 cr in April 2019. Equity Mutual Fund exposure to cash as a category fell to around Rs 39,772 cr in May 2019 from about Rs 42,000 cr in April 2019. On calculating the imputed inflows* into different market cap categories, we find that fund houses were buying Large-cap^ stocks....
Equity Mutual Funds (including ELSS) reported a marginal rise in inflows in May 2019, bringing in Rs 4,968 crore over the month, as compared to an inflow of Rs 4,229 crore in April 2019. Inflows through SIPs continued to hover over the Rs 8,000 cr mark, at Rs 8,183 cr in May 2019 versus Rs 8,238 cr in April. Aggressive Hybrid Funds and other equity-oriented hybrid schemes, continued to report an outflow, for the fifth consecutive month. As per SEBI data, Mutual Funds turned net buyers of stocks after two consecutive months of selling. Mutual Funds bought Rs 5,164 cr worth of stocks in May 2019, versus a selling of Rs 4,920 cr in April 2019. Equity Mutual Fund exposure to cash as a category fell to around Rs 39,772 cr in May 2019 from about Rs 42,000 cr in April 2019. On calculating the imputed inflows* into different market cap categories, we find that fund houses were buying Large-cap^ stocks....
D'Mart Analyst Meet reinforced our confidence in Everyday low Prices and Change in Estimates | Target | Reco cluster based expansion strategy of the company. FY19 has been a tepid year due to lower than expected store openings and strategic margin correction...
We attended CEAT's annual Investor day and are downgrading the stock Change in Estimates | Target | Reco from Hold' to Reduce' on account of further downside that we see to margins and rise in debt levels. Given the various capacity expansions (capex of...
We attended CEAT's annual Investor day and are downgrading the stock Change in Estimates | Target | Reco from Hold' to Reduce' on account of further downside that we see to margins and rise in debt levels. Given the various capacity expansions (capex of...
Rs 17100 crs worth of fertiliser subsidy paid in April: Out of fertiliser subsidy budget of Rs 78500 crs, GoI has already paid Rs 17100 crs (5400 crs for Complex; 11700 crs for Urea) in April 2019 itself i.e. 22% of total allocation. Working Capital pressure is expected to ease for the industry as pending...
Rs 17100 crs worth of fertiliser subsidy paid in April: Out of fertiliser subsidy budget of Rs 78500 crs, GoI has already paid Rs 17100 crs (5400 crs for Complex; 11700 crs for Urea) in April 2019 itself i.e. 22% of total allocation. Working Capital pressure is expected to ease for the industry as pending...
RBI released a revised prudential framework for resolution of stressed assets (FRSA) with keeping core of the 12th Feb circular intact and tweaking with two major changes (i) providing breathing time of 30 days to regularize default from earlier 1day default (although we had understood bankers had 14 day space already) (ii) Banks will not push exposure to NCLT under the IBC if resolution plan (RP) is not implemented within 180days period and instead has introduced disincentives of higher additional provisions of 35% (20% on Lenders with board approved policy can...
RBI released a revised prudential framework for resolution of stressed assets (FRSA) with keeping core of the 12th Feb circular intact and tweaking with two major changes (i) providing breathing time of 30 days to regularize default from earlier 1day default (although we had understood bankers had 14 day space already) (ii) Banks will not push exposure to NCLT under the IBC if resolution plan (RP) is not implemented within 180days period and instead has introduced disincentives of higher additional provisions of 35% (20% on Lenders with board approved policy can...
HUL's Annual Investor Meet reinforced our positive stance on long term growth potential and business strategy of the company. HUL continues to ride on twin engines of new category creation and innovation in existing segments to remain ahead of the competition. We believe sustained investment in categories like Liquid Detergents, face wash, Hand wash,...
ILFS Issues Precipitates Liquidity Crisis, solution not in sight NBFCs Growth challenges sustain Interest rates: Repo cut by 25bps, stance changed to accommodative' Cut in Govt spending reflected in weak IIP nos Trade deficit widened to five-month high as gold import surged GDP growth slumps, Growth shrank in manufacturing Services activity at 7 month low, M3 remains range bound despite OMO GST Collection tops Rs1002bn in May, still short of FY20 monthly average...
up 6.6% YoY. Despite hardening of fuel prices, company managed to contain costs led by optimisation of logistics, rationalizing employee cost, other fixed overheads and higher power generation from Waste Heat Recovery System...
ILFS Issues Precipitates Liquidity Crisis, solution not in sight NBFCs Growth challenges sustain Interest rates: Repo cut by 25bps, stance changed to accommodative' Cut in Govt spending reflected in weak IIP nos Trade deficit widened to five-month high as gold import surged GDP growth slumps, Growth shrank in manufacturing Services activity at 7 month low, M3 remains range bound despite OMO GST Collection tops Rs1002bn in May, still short of FY20 monthly average...
