Broker Research

We maintain our Buy rating on the company; valuing it at 17.5x FY21 to arrive at our price target of INR 350.
May 14, 2019, 3:12 p.m.
Publisher: edelweiss.in

The 64% sequential growth in the EBITDA of DEN’s base business for the quarter was a result of the strong performance of the Performance Products segment.
May 13, 2019, 3:13 p.m.
Publisher: edelweiss.in

PNB Housing Finance (PNBHF) reported 4QFY19 results with the key pointers being: (1) Spread expanded 3 bps QoQ to 2.59% with cost of borrowings easing more than yield (2) Disbursements declined 8% QoQ to Rs 85.62bn with a view to maintaining liquidity.
May 10, 2019, 11:38 a.m.
Publisher: nirmalbang.com

HCL Technologies’ (HCLT) 4QFY19 revenue growth at 3.3% in constant currency (CC) terms was 70bps below our estimate but likely ahead of street estimate. However, its 4QFY19 EBIT margin of 18.9% was 140bps below our estimate.
May 10, 2019, 11:37 a.m.
Publisher: nirmalbang.com

Strong demand outlook in US and stable demand in Europe/South America/Asia, aided by quality operations and sound B/S sets firm outlook for Novelis.
May 9, 2019, 11:42 a.m.
Publisher: plindia.com

KEC International (KEC) reported net profit of Rs1.9 bn (flat YoY) which was lower than our estimate due to weak execution in T&D segment and solar segment.
May 9, 2019, 11:41 a.m.
Publisher: plindia.com

Revenue growth weakens as market challenges in the nature of funding pressures, need for excess liquidity on balance sheet and continued lower disbursals proved as a dampener in Q4FY19.
May 9, 2019, 11:41 a.m.
Publisher: plindia.com

We cut our EPS estimates for FY20 and FY21 by 6.3%-6.9% on the back of 1) uncertain demand environment in domestic market 2) deterioration in sales mix with higher sales of Putty, Tractor Distempers and emulsions.
May 9, 2019, 11:41 a.m.
Publisher: plindia.com

Shriram Transport Finance Company Ltd. (SHTF) reported 3% YoY growth in net interest income to INR 19.1bn aided by 9% YoY growth in AUM to INR 1,045bn. However, net interest margin (NIM) during the quarter decreased by 88bps to 7.1%.
May 9, 2019, 11:36 a.m.
Publisher: edelweiss.in

KEC International (KEC) posted 5% YoY growth in revenues at Rs38.4bn in 4QFY19, below our and consensus estimates by 6% each.
May 9, 2019, 11:30 a.m.
Publisher: nirmalbang.com