Brokerage Research Reports share price target

Indicated scouting of a partner for its EV business as an addional catalyst. We upgrde M&M; to BUY (v/s Hold) led by increasing focus on capital allocation, plans for loss-making subsidiaries (exit or turnaround) and preference to rural exposure. Its emhasis placed on the core intensifies with active search of partner for Sangyong, no bid for truck supply contract in US (under MANA), GenZ exit. We believe these are initial steps to fix ROEs with likely more consolidation. Furthermore, FES segment has strong outlook led...

Sumitomo Chemical reported revenue growth of 3.6% YoY to | 647.7 crore, largely impacted by lockdown leading to a fall in production volumes and thereby sales. The agrochemical segment posted growth of 5.2% YoY to | 615.3 crore while non-agrochemical segment fell 20% YoY to | 32.4 crore. Better gross margins (+224bps YoY) due to a change in product mix and hike in few crop protection chemical prices along with lower other cost resulted into OPM expansion by 477 bps YoY to 18.3% leading to EBITDA growth of 40% YoY to | 119 crore. PAT remained at | 79.4 crore (+47%...

India's multiplex industry is undergoing unprecedented hardships amid Covid-19 shutdowns.

Strides saw its Q1FY21 revenues grow by 14% on a YoY basis and 26% sequentially to Rs.782cr on the back of revenue growth in the regulated markets The U.S business grew by 8% YoY (Excluding ranitidine sales)...

Mold-Tek Packaging Ltd (MTEP), one of leading manufacturers' and suppliers of high quality airtight and pilfer proof containers/pails in India for Paints, Lubricants, Food and FMCG....

SUMICHEM reported subdued topline growth of 4% (production impacted due to lockdown) but savings in raw material (down 228bps YoY @ 65.2%) and other expenses (down 290bps YoY @ 9.0%) led to 40% EBITDA growth. Growth momentum is expected to accelerate going forward and the company might recoup some lost sales of Q1 in Q2 as Glyphosate is mostly sprayed in-between these two seasons. Collections in Q1 have been robust. SUMICHEM's diversified portfolio, strong brand, rich product pipeline from...

Consumption shift from loose to brands to accelerate The strong growth in Q1 was perked up by higher in-home consumption across categories. The supply disruption was limited to Indian operations in April. We believe increasing consumer preferences for packaged foods & trusted brands would accelerate consumption shift towards branded products in tea, salt & pulses category in India. Moreover, in-home' consumption trend would continue for few more quarters in India, US & Canada given out of home' consumption options are still restricted/limited...

Natural gas consumption in June increased to 171.2mmscmd (+6% YoY, +9% MoM).