Brokerage Research Reports share price target

At 90%, India recycles one of the highest percentages of PET waste in the world, which is more than many advanced economies such as Europe and Japan. Increasing adoption of products made from PET waste will drive demand for PET recycling solutions. Growing consumption of packaged food and beverages will ensure adequate PET waste supply for players in the recycling value chain. India...

Discoms in key states Rajasthan, Tamil Nadu, Uttar Pradesh, Karnataka, Maharashtra, J&K;, and Telangana account for 81% of the total overdue amount to gencos. In a positive move, the government has allowed a one-time relaxation to the eligibility criteria for discoms to avail working capital loans under the Atmanirbhar scheme by allowing PFC and REC to lend even beyond the cap of 25% of previous year's revenue. PFC/REC will now extend loans for dues pending till Jun'20 (Rs1.28tn), extending the previous set limit of Rs900bn as of Mar'20. Till date, Rs680bn has been sanctioned and Rs236bn in loans has been disbursed by PFC/REC....

The scheme had an outlay of Rs450bn in FY20. With export incentives a major source of other operating income for India generic majors, GOI's decision to cap export benefit of Rs20m under Merchant Export from India Scheme (MEIS) will impact 2-3% of earnings estimates from our pharmaceutical coverage universe. If withdrawal of the incentive scheme remains permanent, it would impact gross margin of high export-oriented companies such as Divis Lab, Dishman Pharma, Biocon, Strides Pharma, Jubilant Life, IPCA, Dr.Reddy's, Lupin, Aurobindo,Cipla and...

On PV side, MSIL's total volume rose a healthy 17.1% YoY to 1.24 lakh units. Its strong volume rebound was backed by 26.8% YoY rise in mini & compact portfolio, 13.5% growth in UVs. M&M;'s UV portfolio posted modest 2.8% YoY growth by comparison, with overall PV rise at 1.1% YoY to 13,651 units. CV segment's improvement from a low base continued, led by LCVs. LCV decline for Ashok Leyland was at 3.8% YoY while M&M;, MSIL posted healthy growth of 9%, 47.4% YoY, respectively. M&HCV; sub-segment continued to lag, albeit directional uptick carried over from the previous month. Ashok...

Auto sales clocked an expectedly healthy recovery across segments in Aug'20, barring MHCVs and 3Ws.

Capital Goods Near-term pain, structural story remains intact Cement Beats estimate, driven by lower costs and better realisations Consumer Rural leads, urban demand recovery from 2H likely Consumer Durable Will June recovery sustain? IT Services Resilient quarter, Multiple expansion on cards Infra Strong revival in execution amidst pandemic Life Insurance Growing in right areas...

Capital Goods Near-term pain, structural story remains intact Cement Beats estimate, driven by lower costs and better realisations Consumer Rural leads, urban demand recovery from 2H likely Consumer Durable Will June recovery sustain? IT Services Resilient quarter, Multiple expansion on cards Infra Strong revival in execution amidst pandemic Life Insurance Growing in right areas...

Better overseas plant utilisation limits overall revenue fall Better plant utilisation in overseas subsidiary (~56% vs. 38% in India) helped limit consolidated revenue fall at 45% in Q1FY21. Post ease in lockdown restrictions in India, while demand of other products saw a recovery, piping segment demand stayed sluggish due to lower government spending amid lockdown. We expect a continued demand recovery in domestic and...

build efficient supply chains and ensure better prices ovid-19 has brought a strategic shift in the for farmers as well as for consumers. The agriculture mindset of the policymakers as well as sector has long been at the mercy of the government corporate honchos and to look more towards from determining the cost of agri-inputs to output. Such rural India and hence rural markets, a rare...