Brokerage Research Reports share price target

Indian Bank reported its first quarter of merged numbers with Allahabad Bank. The amalgamation of the bank came into effect on April 1, 2020. The bank reported a steady performance on business growth but higher provisioning arrested PAT growth. Provisioning for the quarter was elevated at | 2139 crore, up 18.6% YoY mainly on the back of 100% provisions for two fraud accounts at | 1133 crore. The bank provided | 112 crore for Covid-19 in the quarter. Total Covid provisions held as on June 2020 were at | 632 crore (~17 bps of advances)....

Efforts to be more efficient to get visible from FY22E onwards FY21 has brought in new challenges to operate in the pandemic environment. In the first full quarter of lockdown, most of EIH's properties remained closed. Also, currently it is doing business of only 15-18% of its normal run rate. While there is uncertainty on the recovery, which is solely dependent on the launch of vaccine, the company has initiated major steps to bring down costs and come out stronger and more efficient once normalcy resumes. During the quarter, the company managed to reduce...

Execution of recently awarded projects (comprising 48% of order book) likely to commence from 3QFY21E indicating a strong 2HFY21 performance. HGInfra posted good quarterly performance with better than anticipated execution despite challenging working environment and low labour...

KEC's 1QFY21 revenues came in at 22.1bn, down 8.5% YoY. EBITDA margins came in above consensus estimate at 8.8%, down 160 bps YoY. With reopening of lockdown, operational ramp up has been encouraging with all manufacturing units now operating at pre-COVID levels, work resuming across sites and labour strength more than 80% of pre-COVID level. The order inflow during the quarter remained healthy, with new order wins worth 19.3bn (+73% YoY) (75% from T&D;, 13% from Civil and 12% from Cables). The company highlighted continuity of a (1) robust tendering momentum and, (2) push to ramp up execution from Railways pertaining to OHE (overhead electrification), Signaling & Communication....

Multiple rounds of stimulus from central banks and the hope of further rounds of such liquidity gush continuing in a view to stabilize the economy.

After clocking a moderate surplus of $0.8bn in June - first time in nearly two decades, the merchandise trade balance moved back to deficit of $4.8bn in July.

Freshtrop fruits has shown remarkable results during the Q1FY20-21. From a net loss of ` 0.66cr in the march quarter, it delivered net profit of ` 5.27cr in the recent quarter. This growth is mainly attributable to its Revenue from fresh fruits segment which grew to ` 58.16 as compared to ` 51.15cr in the previous quarter. In addition, reduction in other expenses to ` 5.59cr from ` 14.42cr has also contributed to the bottom-line. Food processing business saw a de-growth of 37%. But, we believe demand & market for Processed and packaged food to witness huge potential in future. Changing demographics,...

Carbofuron, Propiconazole, Thiophinate Methyl) on Paddy crop to reduce market size of these molecules (including combination molecules) is expected to be ~Rs 2.5-4.0 bn in Punjab. We don't expect any impact of the ban on financials of any company as (1) Ban is restricted to only 1 crop in 1...

Order Inflows came in at ~Rs4.4bn, up 6% YoY. Order book stood at ~Rs57bn providing revenue visibility for the next 1.5 years. GE T&D; (GETD) reported better than expected numbers for the quarter led by higher than anticipated sales and well executed cost control measures. Sales declined by 12% YoY on account of lockdown, unavailability of skilled labor and supply chain issues. GETD secured order inflows worth Rs4.4bn (L1 Rs2.5bn) few projects was deferred due to delay in decision making by...

Revenue declined by 46% YoY, on account of overall weak demand scenario & Covid-19 related disruptions. EBITDA margins contracted by 70bps YoY to 8.5% and PAT declined by 67% on account of weak operating leverage. The worst earnings downgrade has already been factored in the stock price and we expect revival from H2FY21E. Focus on client addition in E-commerce, pick-up in seaway business, demand from warehousing space, faster adoption of e-way bill and gradual pick-up in Auto sector will drive growth. We remain positive on TCI given its strong presence in warehousing space, multimodal logistics services and supply chain management....