Brokerage Research Reports share price target

ACC posted weak set of Q4CY22 earnings. EBITDA came 16%/18% below our/consensus estimates at Rs5.56bn, down 21% YoY. While, fall in earnings and miss to estimates was relatively lower compared to peers due to better performance on cost. We cut our EBITDA estimates by 8%/6% for...

Dec 2020. Operating profit margin has jumped from 16.28% to 19.18%, leading to 28.54% rise in operating profit to Rs 4,526.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 46.49% to 49.55%....

Shares ended sharply lower, dragged by worries of more foreign outflows after red-hot U.S. inflation data increased bets on aggressive interest rate hikes by the Federal Reserve. Foreign investors have sold a net $5.58 billion in Indian equities so far this year, Refinitiv data showed, compared with a net purchase of...

Markets rose for a third straight session Shares rose after the Reserve Bank of India (RBI) left its key interest rate unchanged at a record low and maintained its 'accommodative'...

M&M's EBITDA margin at 11.9% (PLe: 12.3%) contracted 60bps QoQ owing to commodity cost pressues, chip supply issues and weak product mix. Tractor segment's EBIT margin was at 17.3% (-140bps QoQ), while auto business posted EBIT margins of ~3.7%. Company is experiencing good traction in automotive segment, with an order book of ~155k units (~70k units for XUV700). However, unprecedented demand for new models and semiconductor shortage is causing longer waiting periods. Management highlighted that Feb-22 has seen chip shortage issue easing out and it has...

Strong garment order book to spur revenue growth

M&M: Improving Autos dilute weakness in Tractors MM's 3QFY22 operating performance was in line as a strong recovery in the Auto business made-up for weakness in the Tractor business. We expect the Auto business to take the growth baton from the Tractor business, led by strong momentum in both SUVs (driven by new products and the easing of supply issues) and LCVs (cyclical recovery). Order backlog in Autos is strong across models, with open bookings of over 155k units, of which over 70k units are for the XUV700 (after a 10%...

Calibrated store addition to drive revenue growth is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company enjoys strong moats that would provide an edge over increasing competition in tier III-IV regions. V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain efficiencies...

In CS, the company maintains strong relationship with global big pharma players while in generics it enjoys significant market share in products like Naproxen, Dextromethorphan and Gabapentin among others Divi's is fully backward integrated in products with high market share. The management intends to follow suit in other products...