Larsen & Toubro a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations in over 30 countries around the world. L&T; addresses critical needs in key sectors Hydrocarbon, Infrastructure, Power, Process Industries and Defence. The company is also present in the IT (LTTS, L&T; Infotech and MindTree) and financial space (L&T; Financial services) to suffice the needs of various industries. The management is...
Rate Cut MPC advanced its meeting and reduced repo rate by 75 bps to 4.4%. MPC unanimously voted for sizeable reduction in the repo rate, but some differences in the quantum of reduction. MPC decided to continue with accommodative stance as long it is necessary to revive growth and mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target. The Monetary Policy Committee (MPC) voted in ratio of 4-2 in favor of rate cut. In the Feb'20 policy review all members...
Incorporated in October 1998, SBI Cards started its operations as JV between SBI and GE Capital however GE Capital sold its stake to Caryle Group & SBI in 2017. In April 2018, SBI Business Process and Management Services, a company providing backend payments and processing services to SBI Cards was merged with company and name was changed to SBI Cards and Payment Services Ltd in August 2019. It is the second-largest credit card issuer in India, with a 17.1% and 17.9% market share of the Indian credit card market in terms of total credit card spends in fiscal 2019 and in the six months ended September 30, 2019 respectively. The revenue model generates both non-interest income as well as interest income...
The Consultancy-Domestic segment grew ~2% YoY/10% QoQ to `2,659.3mn. Currently rail consultancy orders constitute 62% (50-60% on nomination basis) of total consultancy orders worth `25,320mn. Under consultancy, the quality assurance revenue...
LIC Housing Finance Ltd saw muted growth in profit to `598 Cr vs. `597 Cr YoY on the back of increased provisioning to `396 Cr vs. `132 Cr YoY. Core operating profit grew 15% YoY on the back of moderate loan growth of 13% YoY. NIMs have improved to 2.42% vs....
Rate Cut RBI on expected lines maintained the repo rate at 5.15% in its sixth bimonthly monetary policy review for FY19-20 on concerns of rising inflation but decided to continue with accommodative stance as it expects softening in prices going forward, leaving room for rate cuts in future. The Monetary Policy Committee (MPC) unanimously voted for status quo on repo rate. In the...
Aggressive push for volumes led to realisation drop and dragged topline Company recorded sluggish results with net sales coming in at `1943mn (down ~25.6% YoY, down 7.4% QoQ) majorly impacted by pricing pressure for its products. Management stated that company had aggressively pushed volumes to maintain its wallet share from clients as rubber chemical demand continued to remain weak led by softness in automotive and tyre sector. Management believes current pricing of rubber chemical is at its lowest level...
Blue Star Ltd. (BLUESTAR) reported strong revenue growth of ~13% YoY to `12,359.1mn, with the EMPS segment registering growth of ~16% YoY to `7,588mn driven by strong execution and cost optimisation measures. The UCP segment grew 7.3% YoY/ 11.4% QoQ to...
CCL Products (India) Ltd. (CCL) declared its Q3FY20 results recently. Consolidated net revenues and EBITDA grew by 29% & 55% Y-O-Y, on account of benign input cost, better product mix and higher utilisation. The EBITDA margin of the company improved by 460bps to...
