Principal Research Analyst, tracks BFSI at CNBC TV 18 Ex - Sell side analyst Views r personal RT aren't endorsements Comments aren't recommendations F1 fan
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[email protected] Movement alert: Bank NIFTY +445pts or 1.2% @HDFC_Bank +1.27% @ICICIBank +1% @TheOfficialSBI +1.3% @KotakBankLtd +1.1% @Bajaj_Finserv +1.5% (At 52 week high) @AxisBank +1.9%
Commodity inflation continues to persist We expect ~9-10% revenue growth led by ~6% UVG & 4% pricing We bake 24.5% margins, down ~60 bps YoY, up ~50-60 bps QoQ) Over medium term, expect recovery in discretionary / laundry portfolio, tailwinds from GSK-CH integration
CLSA on Zee Ent TP Rs400 from Rs306 Potential merger with Sony Merger terms are favourable for Zee At TP, stock would trade at 18x PE multiple to one-year forward earnings estimate, which is at c.33% discount to the 10-year average.
Bank Nifty at record high
To address NPA woes in banking sector, we have seen/will see: Asset quality review (AQR) - it just began (from here)! NCLT list 1, 2 & etc Sale to ARCs Restructuring (Multiple occasions & for multiple sectors) TLTRO ECLGS Insolvency & Bankruptcy Code Moratorium Bad Bank
On a lighter note: ITC investors must be saying: Bade dino ke baad mile ho (momentum)... pooch raha hai ye mausam.... itne saal se tum (momentum) kahan the?
Lupin will generate cash ~USD 250mn cumulative over the next 2 years We note the settlement will be one-time impact in FY22 & no impact on our estimates for FY23/24
Axis Cap on Lupin ADD TP Rs1130 Lupin has agreed to settle with the plaintiffs – antitrust class actions related to gGlumetza (Delayed in launch) for an amount of USD 248 mn Co's cash (including cash equivalent and investments) as of Mar’21 was at ~USD 566 mn (*Rs 41.9 bn)
L&T Finance to raise funds via one-year CP at 4.38% coupon
Tata Power Renewable to raise funds via three-month CP at 3.55% coupon BHEL to raise funds via three-month CP at 3.57% coupon Axis Finance to raise funds via six-month CP at 3.90% coupon Axis Finance to raise funds via eight-month CP at 4.28% coupon
[email protected] Bond mkt actions Key highlights: Bajaj Housing Fin takes money at 5% RIL to raise money at 3.42%; Reliance Retail Ventures to raise money at 3.43% NCDs Cholamandalam Invt to raise Rs250cr at 5.58% via 2 year bonds Varroc Engg to raise Rs200cr at 8% via 21mth bonds
Open to reducing stake in insurance subs: Cut its stake in ICICI Lombard Gen Ins from 48% (following the Bharti AXA merger) to 30% by Sep-23 Open to follow the same path in ICICI Pru Life if warranted Mgt intends to maintain a 75% stake in ICICI Sec
Asset quality expected to normalise by 2HFY22 ICICI Bank could undershoot its own 25% provision-to-PPOP guidance by a margin Est FY23/24 credit costs dropping to 90bps with room for a positive surprise NIM levers balanced; structural tailwinds should benefit in the longer term
SEBI bars 8 including MD of Poonawalla Fin Corp in Magma Fincorp Insider trading case. Accused of taking huge position in share before the announcement of deal.
[email protected] Movement alert: At day's high #NIFTY @HDFC_Bank @TheOfficialSBI Divis Lab @jswsteel @bankofbaroda @FederalBankLtd @DCBBank Power grid @HeroMotoCorp
[email protected] Today, Bharti Airtel's mkt cap crossed Rs4 lakh cr Ranks 9th now, in terms of mkt cap, amongst NIFTY co's
[email protected] Stock price alert: #KarnatakaBank at 52 week high, up 12.82%
However, to everyone’s disappointment, the progress on this front has been slow in view of specific conditions that exist in IDFC Foundation’s joint venture agreements Concall's primary intent was to present & explain the status regarding group structure
ICICI Sec on IDFC Ltd Unrated Shareholders voice their anguish Board empathises and gives ray of hope To exit as promoter of IDFC First Bank, the way forward was to spin off its asset management business, alienating investments by IDFC Foundation & detaching IDFC Foundation
Huge delivery vol in Zee Ent
Principal Research Analyst, tracks BFSI at CNBC TV 18 Ex - Sell side analyst Views r personal RT aren't endorsements Comments aren't recommendations F1 fan
Followers: 28,816
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