Brokerage Research Reports share price target

In January this year, we introduced our in-house quantitative indicator Macrometer', dedicated to assess health of the economy using 50 monthly economic indicators that capture level and the momentum of the domestic economic activity. By combining the level and the momentum of the economic activity, we differentiate periods into 5 macro regimes Strong growth, steady growth, deceleration, slowdown and recovery. The idea is to capture current state of the economy. The latest data shows that while we observed early signals of recovery in the economic activity in February 2020, the outbreak of COVID-19 and efforts to contain it have severely impacted the economy at a scale which is unprecedented, pushing the country to the slowest expected economic growth rate in 41 years (our base case for real annual GDP growth rate is 0.8% for FY21). In the subsequent slides, we present the base for dynamic asset allocation by investigating the price performance of different...

In January this year, we introduced our in-house quantitative indicator Macrometer', dedicated to the assessment of health of the economy using 50 monthly economic indicators that capture level and the momentum of the domestic economic activity. By combining the level and the momentum of the economic activity, we identify 5 phases Strong growth, steady growth, deceleration, slowdown and recovery. The idea is to capture current state of the economy. The latest data shows that while the economy had just started recovering in February 2020 owing to the revival in rural demand, the ongoing lockdown in the country to contain the spread of COVID-19 has created an unprecedented loss to the economic health pushing the country on brink of negative growth rate over next few quarters....

In January this year, we introduced our in-house quantitative indicator Macrometer', dedicated to the assessment of health of the economy using 50 monthly economic indicators that capture level and the momentum of the domestic economic activity. By combining the level and the momentum of the economic activity, we identify 5 phases Strong growth, steady growth, deceleration, slowdown and recovery. The idea is to capture current state of the economy. The latest data shows that while the economy had just started recovering in February 2020 owing to the revival in rural demand, the ongoing lockdown in the country to contain the spread of COVID-19 has created an unprecedented loss to the economic health pushing the country on brink of negative growth rate over next few quarters....

In this Report we present a sequel to our earlier report on investor behaviour (Behavioural Patterns Amongst Investors) in order to highlight the second order derivative impact of COVID-19 on various Sectors and Themes. The Government and the RBI is likely to play an active role through Fiscal and Monetary Policies which could mould investor behaviour towards several sectors and investible themes. The adverse impact on Quick Service Restaurants is very apparent as consumer preferences shift towards home made foods and the incremental demand for fast food from DINK groups (Double Income No Kids) head southwards. Commercial Real Estate prices are likely to head south as the blended model of work...

Affle India is a digital marketing and advertising company that focuses on targeted mobile marketing using artificial intelligence and data Analytics to show relevant mobile advertising to the user so as to convert him to click / sign up and make a purchase. It's the ads we see on social media and websites which are targeted to specific users based on their digital profile and history. The whole play is on increasing penetration of mobile shopping, online payments, increased mobile + data penetration and changing consumer trends to make purchases online. The company operates in a segment that thrives on 4 key pillars: 1. Discretionary spending by consumers :...

Covid-19 is a black swan event with far reaching implications for businesses worldwide. The Indian economy is no exception with a stringent 21-day lockdown period underway. With almost nil manufacturing activity in this 21day period and slow ramp up thereafter amid subdued consumer sentiment, we downgrade our Nifty earnings estimates to the tune of 4% for FY20E, 18% for FY21E and 13% for FY22E. Incorporating the downward revision, we now expect Nifty earnings to grow at a CAGR of 13.2% in FY19-22E vs. expectation of 18.6% CAGR in the past....

Investors exhibit a range of decision making behaviours and these deep rooted patterns often come to the fore at the time of making the investment decision. While some decisions may serve us well in certain circumstances, these biases affect all types of investors-both professional and private. Behavioural Patterns observed among investors during several phases of their investing style can be aptly summarised in the following few points which we would like to share during such volatile markets. Anchoring or getting fixed to a value scale by the yearly high of a particular company fully ignoring the likely adverse impact on its business due to a specific event. A classic example here could be buying into stocks of Micro Finance...