Brokerage Research Reports share price target

Our interactions with leading channel partners indicate sharp decline in MoM retails led by regional lockdowns, supply challenges for few OEMs and lower footfalls (-45-50%) in key festive/ marriage season. Unlike last year, this time rural sales are also impacted as retails and urban are expected to decline 4042% and 60-62% MoM respectively. Consequently, we expect wholesale for the month of April'21 to decline 15-20% MoM across segments. While lower retails helped PV OEMs to catch up inventory levels (13-15 days' v/s < 7 days in Mar'21), 2W inventory remained high at 5-7 weeks. Also, with local mandis still operating followed by anticipated healthy monsoon and decent festive...

Markets end in green for second consecutive day Markets posted strong gains, with heavyweight metal companies, financials and automakers leading the surge amid expectations the ongoing deadly surge in the Covid-19 cases will likely peak in mid-May. Economic activity in the country is holding up admirably against Covid19's renewed onslaught but the rise in infections risks protracted...

Domestic steel prices have witnessed strong traction over the last eight to nine months, registering a sharp increase in the aforementioned period. Currently, domestic hot rolled coil (HRC) prices (ex-Mumbai) are at | 62500/tonne, up 71% from the July 2020 low of | 36500/tonne. Healthy traction was witnessed in international steel prices also. Over the last three months, Chinese steel HRC export price has increased by 35% to US$890/tonne in April 2021 from US$660/tonne in January 2021. Healthy demand both on the global as well as domestic front has aided this uptick in...

Markets rose sharply as the rupee gained ground Investors cheered positive earnings updates and the U.S. announcement that it would remove bottlenecks in the export of raw materials essential for the production of vaccines in India. Medical support from countries including Britain and Germany to help India battle the crisis along with acceleration of the mass vaccination...

Markets plunged due to continued worries about covid-19 Markets ended lower, with mixed global cues and renewed worries about the Covid-19 situation in the country weighing on sentiment. India's trend of registering the world's highest daily tally continues, pushing several countries including Australia, Britain, Canada, and the...

provisioning charge was led by write-offs in Q4FY21 (e)continued elevated contracts under 90dpd category (5%+ live cases since FY20) despite 100% collection efficiency for Q4FY21 and (f) tepid disbursals in tractor, CV, CE product categories coupled with market share loss in flagship business. We foresee return profile on descent (2.3%RoA/13.6%RoE) for MMFS as key earnings drivers stand missing with bleak growth outlook (prune down our growth estimates to 5%/13% vs earlier 10%/16%), margins shrinkage (133bps NIMs decline) and elevated NPAs (tweak NPA estimates to 8%+ vs earlier 7%)...

Revenue remained sequentially flat at | 49.5 crore, on account of 23% and 4% QoQ fall in allied broking and cross sales income, respectively. Allied broking income declined due to a reduction in annual maintenance charges to nil from | 45/month earlier for holdings up to | 2 lakh while for customer holdings above | 2 lakh will be charged | 25/month. Broking revenue growth, on the other hand, was healthy at 18% QoQ to | 23.2 crore due to strong sequential customer addition of 2 lakh and 16% QoQ rise in overall ADTO. Cash ADTO increased 9% QoQ to | 2008 crore while ADTO in the...

Markets rebound after early plunge, settle notably higher Markets ended on a strong note, rebounding well from recent losses and an early sharp plunge, as positive global cues helped offset worries about the worsening pandemic situation. The early plunge was due to rising worries about the spread of the coronavirus infections across the country. However, expectations that the mass vaccination drive planned by the government will help...

Markets remained closed on account of Rama Navami Markets gave up early gains to end lower on Tuesday, with IT companies underperforming. Markets opened on a positive note after the government said it will widen vaccinations to everyone above 18 in the next stage beginning May 1....