Brokerage Research Reports share price target

relaxation in occupancy caps. However, just when the operating environment closure), Tamil Nadu, Haryana, and Rajasthan. On travel front, especially rail passenger traffic, Omicron impact is still not fully evident (non-suburban PRS traffic in December stood at ~74mn with no...

Major ports posted a decline of 12-13% in overall volumes in Q3FY22, mainly impacted due to a decline of 55-60% in the iron ore, 40% in coking coal and 13% in thermal coal. However, on the container side, in spite of the Exim challenges (unavailability of containers, higher ocean freight charges), volumes grew 8-9%. The greater trans-shipment volumes at Indian ports, may impact the container product mix for ports (while easing congestion at major transhipment ports such as Colombo and Singapore port). Adani Ports posted a 12% decline in overall volumes while JNPT reported 14% growth...

The EBITDA margin of the coverage universe is likely to see a decline of 462 bps YoY mainly due to unfavourable base and higher raw material prices. Prices of key raw material such as TiO2, VAM, PVC have almost doubled from the base period, which has dented gross margins of the companies. While the companies have already initiated price hikes, the actual impact of this hike will be visible from Q4FY22 onwards. Under our coverage universe paint and adhesive companies are likely to witness higher decline in EBITDA margin to the tune of 310-900 bps YoY mainly to...

Markets fell notably to snap a four-day rally Against the backdrop of a firming economic recovery and elevated inflation, the minutes underscored the likelihood of three rate hikes...

EBITDA/t to decline 15.7% YoY on high costs Petcoke and international coal prices are up 25-30% on a QoQ basis. Also, average diesel prices are up ~25% YoY leading to a rise in average freight costs per tonne by ~| 45-50/t on a QoQ basis. With freight & power comprising over 50% of cost, we expect total production cost to increase by | 247/t QoQ to | 4,4,88/t (up 15.9% YoY, 5.8% QoQ). Hence, we expect...

Titan's jewellery division continues to gain market share with better than industry performance. Buoyancy in jewellery demand driven by festive and wedding related purchases in October and November enabled significant revenue growth during the quarter. We expect Titan's jewellery revenues to grow 30% YoY (up 36% YoY, excluding bullion sales). Improvement in studded share compared to the corresponding quarter of the previous year would aid in enhancing the profitability of the jewellery segment. The watches segment also witnessed strong growth momentum with multi brand...

Global recovery in PV production amid easing supply side issues and seasonality is expected to help auto ancillaries with global presence like Motherson Sumi and Apollo Tyres to outperform its peers in Q3FY22. Balkrishna Industries and Minda Industries are expected to report stable performance on a QoQ basis amid healthy demand prospects while Bharat Forge is expected to report QoQ decline amid management guidance of deferred supplies towards its automotive customers. The ancillary pack is seen posting ~8% QoQ sales growth with margins up 20 bps to 11.7%....

Underlying sentiment received a boost after a survey showed India's service sector continued to log robust growth in December amid improving market conditions and accommodative demand. Recent economic readings including better than expected GST collections, strong export figures, improvement in auto monthly numbers and banking credit growth also boosted investor confidence...

European stocks closed higher and several markets climbed to fresh record highs, as a string of new studies suggested that the Omicron virus variant might be less severe than initially feared....