| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 Jan 2023 | Tata Communications |
ICICI Securities Limited
|
1722.50 | 1640.00 | 1324.60 (30.04%) | Target met |
Buy
|
Investments to accelerate revenue growth
ICICI Securities Limited
Tata Communications’ (TCom) Q3FY23 data revenue grew 2.9% QoQ / 11.1% YoY. Company maintained good revenue growth momentum even in the seasonally weak quarter, which shows rising execution efforts.
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| 25 Jan 2023 | Tata Communications |
ICICI Direct
|
1722.50 | 1290.00 | 1284.75 (34.07%) | Target met |
Hold
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| 24 Jan 2023 | Tata Communications |
Motilal Oswal
|
1722.50 | 1200.00 | 1324.60 (30.04%) | Target met |
Neutral
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| 29 Oct 2022 | Indus Towers |
Motilal Oswal
|
413.55 | 197.00 | 185.50 (122.94%) | Target met |
Neutral
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| 20 Oct 2022 | Tata Communications |
ICICI Direct
|
1722.50 | 1270.00 | 1210.65 (42.28%) | Target met |
Hold
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| 22 Jul 2022 | Tata Communications |
ICICI Direct
|
1722.50 | 1260.00 | 1056.15 (63.09%) | Target met |
Buy
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| 15 Jun 2022 | Tata Communications |
Emkay
|
1722.50 | 1155.00 | 885.75 (94.47%) | Target met |
Buy
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| 16 May 2022 | Indus Towers |
Emkay
|
413.55 | 205.00 | 201.85 (104.88%) | Target met |
Hold
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| 29 Jan 2022 | Indus Towers |
Motilal Oswal
|
413.55 | 250.00 | 252.55 (63.75%) | Target met |
Neutral
|
Steady earnings but upcoming tenancy renewals pose risk
Motilal Oswal
Indus Towers' consolidated EBITDA grew 2.1% QoQ to INR37b with rental EBITDA growth of 2% QoQ, mainly originating from rental rates (which saw a 1% one-off gain) and 2.5k tenancy additions. The last few quarters have seen decent tenancy additions. However, a) reducing penalty receipts of ~INR7b from VIL in FY23E, b) upcoming tenancy renewals in Mar'22 and c) the weak liquidity position of VIL (seen in rising receivables) pose earnings risk for Indus Towers. We estimate a 4.2%...
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| 29 Jan 2022 | Indus Towers |
ICICI Securities Limited
|
413.55 | 280.00 | 253.10 (63.39%) |
Hold
|
Indus Towers
ICICI Securities Limited
EBITDA was at | 3699 crore, up 2.1% QoQ, with margins at 53.4% (up 70 bps QoQ). Receivables were up by ~| 1600 crore QoQ to | 7351 crore, with debtor days at ~97 days vs. ~76 days in Q2 &~54 days as on FY21 What should investors do? Indus' share price has delivered merely ~9% return...
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