Publisher : angelbroking.com


Bajaj Auto: Research Report - Angel Broking
Aug. 24, 2017, 4:41 p.m.
Publisher: angelbroking.com

GlaxoSmithKline Pharmaceuticals (GSK) posted lower than expected results on sales and OPM fronts for 1QFY2018. The revenues came in at `587cr v/s. `700cr expected, registering a yoy de-growth of 14.3%, mainly on the back of GST implementation. On the OPM front, the EBDITA margins came in at (0.1)% (v/s. 12.6% expected) as compared to 10.2% in 1QFY2017, mainly driven by lower sales during the quarter. The Adj. PAT came in at `18cr v/s. `71cr in 1QFY2017, a yoy dip of 75.0%. We maintain our Neutral.
Aug. 23, 2017, 5:47 p.m.
Publisher: angelbroking.com

TCS posted numbers slightly better than expected for 3QFY2017 on the sales and EBIT front. The company reported a 0.3% sequential growth in USD revenues to US$4,387mn v/s US$4,383mn expected. On Constant Currency (CC) terms, the growth came in at 2.0%. Volume growth during the quarter camein at 1.0% qoq.
Aug. 23, 2017, 5:32 p.m.
Publisher: angelbroking.com

DHFL reported a strong 32.6% growth in PAT at `245 cr for 3QFY17, exceeding our expectations. Strong momentum in loan growth, easing cost of funds with improving NIM and lower credit cost resulted in better than expected results.
Aug. 23, 2017, 5 p.m.
Publisher: angelbroking.com


Federal Bank’s 3QFY17 results were better than our expectations. PAT growth of 26.4% YoY, with stable asset quality and accelerated loan growth were the key developments during the quarter.
Aug. 23, 2017, 4:59 p.m.
Publisher: angelbroking.com

Asian Granito’s 3QFY2017 results have come in line with our estimates on the bottom-line front, while the top-line front disappointed. Revenue grew by ~4% yoy, which is lower than our estimate. On the operating front, the company reported margin improvement, primarily on account of lower raw material cost. Further, on the bottom-line front, the company reported strong growth on account of favorable operating performance.
Aug. 23, 2017, 4:27 p.m.
Publisher: angelbroking.com

For 3QFY2017, HCL Tech posted numbers almost in-line with expectations. On the revenue front, the company posted a 1.3% sequential growth in USD revenues to US$1,745mn (US$1,749mn expected) v/s US$1,722mn in 2QFY2017. Revenue in Constant Currency (CC) was up 3.0% qoq. On EBIT front, the company posted an EBIT of 20.4% (20.0% expected) v/s 20.1% in 2QFY2017, expansion of 30bps qoq.
Aug. 23, 2017, 4:27 p.m.
Publisher: angelbroking.com

Amara Raja Batteries’ (ARBL) net sales grew by 9.6% yoy to `1,328cr. Gross margins declined by >340bps yoy to 34.9% indicating steep increase in the RM costs owing to the recent increase in the lead prices. EBITDA was at `204cr vs. `230cr in Q3FY16 and `229.7cr in Q2FY17. The depreciation cost increased by 32% yoy to `46.9cr. The EBITDA margins were at 15.35% vs. Q3FY16 EBITDA margins of 18.66%. PAT came at `112cr, declining by 17.9% yoy.
Aug. 23, 2017, 4:26 p.m.
Publisher: angelbroking.com

Cholamandalam Investment & Finance Company (CIFC), part of the Murugappa Group is one of the dominant players in the Vehicle Finance business with a market share of ~9%. Focused business model, strong management and high corporate governance standards are the key differentiating parameters of CIFC.
Aug. 16, 2017, 1:07 p.m.
Publisher: angelbroking.com

DEMYSTIFYING MYTHS ABOUT MUTUAL FUNDS
Aug. 3, 2017, 3 p.m.
Publisher: angelbroking.com