Latest broker research reports
with sell recommendations along with share price targets forecast and upside.
Browse thousands of reports and search by company.
Broker Research reports: Sell reports
for all stocks
Affordable housing is not about box-sized, budget homes in far-flung places, where there is no connectivity to work places and little surrounding infrastructure. Affordable housing has to be able to cut across all income segments and has to make economic sense in terms of proximity to work place. The agenda for affordable housing requires a combined publicprivate collaboration and a strong political will to enforce change Excerpts from Deepak...
IGPL also forayed into the downstream product by introducing speciality plasticizer DEP (Di-Ethyl Phthalate). The company commenced commercial production of DEP (in Nov 21) with a capacity of 8,400 MTPA with a 50% increasing possibility at a minimum Capex. Since the compound Relative Price Chart is a suitable solvent for many organic molecules, it is often used to bind cosmetics and fragrances (mainly incense sticks and attar). Domestic demand for DEP is 22,000 MTPA with almost the same in terms of supply. The company is planning to cross-sell this product to existing plasticizer clients since...
Despite deferment of AGR & spectrum dues, company's outlook increasingly looks uncertain. In the absence of a much needed capital infusion by the promoters, strengthening of subscriber base and substantial improvement in ARPUs is required in the coming months for the company to continue as a going concern. We downgrade our rating...
Background: Berger Paints is the second largest decorative paint company in India. The Company operates seven manufacturing facilities spread across India, and four overseas manufacturing facilities. The company has second largest distribution network of ~11,500 active dealers and ~12,000 tinting machines. Berger has a strong presence in East and North India, which accounts for 60% of its distribution network while South & West India accounts for 40% of distribution network. Company derives ~80% of revenue from decorative paints and the rest from industrial paints of which Automotives accounts for 8%, powder coating accounts for 2%...
across all three segments General staffing grew 10% QoQ, Specialized staffing services grew 17% QoQ and Other HR Services grew 13% QoQ. Net head-account addition was strong in BFSI, Consumer, e-commerce, and tele tech cohorts, while sectors which were worst affected by the pandemic are making a comeback. Consolidated EBIT margin came at 1.5%, was flat QoQ...
Background: Balkrishna Industries (BIL) is focused solely on 'off-highway' tyres catering to agricultural & industrial segments. The company has a ~7% share of the global market. While OTR forms ~65% of the global market, for BIL, it only contributes ~33% to its revenue. The company has been undertaking various actions like setting up warehouses in markets in North America and Europe to be closer to the customer and have a just in time (JIT) system. The company sales cover over 130 countries through distribution network in Americas, Europe, India and Rest of the world. BIL...
BHEL reported another loss making 2QFY22. While revenue stood ~10% above our expectation, lack of operating leverage led to losses at the operating level. It reported a net loss of INR675m, below our expected loss of INR2.3b, owing to lower other expenses (reversal of provisions ~INR1.8b) and revaluation of depreciation charges by ~INR580m. Adjusted for the above two items, losses are in line with our expectation. Of the total order book of INR1.1t, the executable order book stands at INR90b. Around 50% of the order book is fixed cost contracts, thus posing a...
Divi’s Laboratories’ (Divis) reported Q2FY22 performance was below our estimates. Consolidated revenue grew 13.6% YoY to Rs19.9bn (I-Sec: Rs20.9bn), EBITDA margin dropped 120bps YoY to 41.2% (I-Sec: 42.5%) and PAT grew 16.7% to Rs6.1bn (I-Sec: Rs6.3bn). The growth was driven primarily by custom synthesis business while generics declined YoY.
