Stocks

A report on Bosch from Motilal Oswal Institutional Equities: According to the management of Bosch (BOS) to understand the evolving regulatory, technological and competitive landscape in the sector. Increasing complexity due to stringent regulatory changes augur well for a technology-focused player like BOS, though the seamless translation of LoI is important for BS6 business. BOS is confident of...

2QFY20 report on Bajaj Finance and L&T Finance holdings: BAJAJ FINANCE: Strong performance, fee traction robust –       Bajaj Finance’s (BAF) PBT grew 41% YoY in 2QFY20, while PAT increased 63% YoY to INR15b owing to the lower tax rate. The quarter was characterized by continued strong AUM growth and stable margins/asset quality. –       Consol. AUM increased 38% YoY...

–       Volumes decline, realizations decrease sequentially: 2QFY20 consolidated volumes (including white cement) declined 1% YoY to 18.7mt. Realizations decreased 3% QoQ due to weaker prices in the southern and eastern regions of India. Net sales grew 4% YoY to INR96b. Cost/t declined 1% YoY to INR 4,121/t. Thus, EBITDA/t rose 36% YoY to INR1,026/t (-25% QoQ). While EBITDA grew 35%...

Ambuja Cements 3QCY19 results brief synopsis: –       Volumes decline but realizations improve: Volumes declined 5% YoY to 5.23mt in 3QCY19, as demand was impacted by heavy rain and floods in various states. Realizations increased 6% YoY, but were down 2% QoQ to INR4,887/t due to price roll back post May’19 in core markets. Revenues grew 1% YoY to INR26.3b, vs...

Reliance Industries (RIL) reported in-line standalone revenue of INR871.4b (-9% YoY, flat QoQ) in 2QFY20. EBITDA came in at INR136.7b (-8% YoY, flat QoQ) versus our estimate of INR136.4b owing to the lower-than-expected refinery throughput of 16.7mmt, despite a better GRM of USD9.4/bbl (flat YoY, +16% QoQ). Lower depreciation, combined with higher other income and higher interest cost,...

Operational performance largely in line: Revenue grew 3.8% YoY CC (our estimate: 4.1%) in 2QFY20. IT Services’ EBIT margin expanded 310bp YoY to 18.1% (our estimate: 18.7%), while PAT rose 12% YoY to INR25.6b – a 14.4 % beat, mainly led by a lower-than-expected ETR (18.3% v/s our estimate of 22.5%). Sequentially, revenue was up 1.1% CC (our estimate:...

Mumbai, 17 Sept, 2019: India’s fastest growing brokerage house Upstox has conducted an interesting study and the result is something every investor should know. The study reveals that in a year, Rs. 400 crores of brokerage was saved by 2,50,000 investors using Upstox. Upstox is consistently working towards making the trading faster and smarter for the seasoned investors...

The National Sports Day, 29th August, is celebrated on the birth anniversary of hockey legend Major Dhyan Chand. This day marks the birthday of the hockey player Major Dhyan Chand Singh, who won gold medals in Olympics for India. He scored more than 400 goals in his career from 1926 to 1948. Sports is composition of Physical and...

August 20, 2019: Currently, only stocks that are listed at the National Stock Exchange of India Ltd. (NSE) are included in NIFTY indices.  Stocks which are permitted for trading at NSE while not listed at NSE or stocks not listed and also not permitted to trade at NSE are not considered for inclusion in NIFTY indices. The Index...

Mumbai and Singapore, 6 August 2019:  National Stock Exchange (NSE) and Singapore Exchange (SGX) have received a set of approved regulatory dispensations from their statutory regulators, obtaining their support on a joint proposal that NSE and SGX submitted earlier this year. The proposed NSE International Financial Service Centre (IFSC)-SGX Connect aims to bring together the trading of Nifty products...