AWFIS sees demand for flexible office space clocking 25–27% CAGR in the coming years on: i) return-to office and hybrid mode of working, ii) higher influx of GCCs, iii) decentralisation by larger firms, iv) need for managed offices, and v) a shift to opex from a capex model by corporates. It expects average seat rental to grow by 5–6% annually.
HG Infra has showcased an impressive 24.2% revenue CAGR during FY18-24, thanks to its strengthened order book position and enhanced project execution capabilities. Ahead, the momentum is set to continue, as the company is projected to achieve a 16.1% revenue CAGR over FY24-27E.
Based on the above themes, we recommend the following stocks: HDFC Bank, ICICI Bank, Dalmia Bharat, Nestle India, State Bank of India, HCL Tech, Lupin ltd, Aurobindo Pharma, Federal Bank, Varun Beverages, TVS Motors, Bharti Airtel, J Kumar Infra, Prestige Estates, Sansera Engineering, and Cholamandalam Invest and Finance
Long-Term Drivers Intact The total hospitality industry in India currently comprises 212,000 rooms, translating to an industry size of ~Rs 82,000 Cr. The industry is projected to experience a CAGR of 10.5% over the next three financial years. This growth is expected to generate an annual incremental demand of Rs 8,200 Cr.
We believe Thangamayil Jewellery, a leading jewellery player in Tamil Nadu, is set to achieve 26%, 33%, and 41% revenue, EBITDA, and PAT CAGR, respectively, over FY24-27. This growth will be driven by the benefits of formalisation, accelerated store expansion, its value-for-money offerings, and the easy availability of capital at competitive interest rates
The dividend yield is computed based on the closing price of 29th August 2024. We have considered companies that have consistently paid dividend in the last 3 years – i.e FY24/CY23, FY23/CY22 and FY22/CY21. The * mark indicates data for FY23/CY22.
We recently met with MCX management. We gained more confidence in their strategic direction, which includes (1) launching new products such as monthly series and index options, (2) continuously enhancing the technology stack, and (3) focusing on increasing institutional participation and hedging activity on the platform
Archean Chemical Industries Ltd (ACIL) is the leading player in marine speciality chemicals manufacturing & exporting bromine, industrial Salts & SOP to its global customers. The company’s competitive edge in the global market is because of its low cost & high efficiency processes, making it unique & standout player amongst its competitors.
SENCO is one of the most promising players in the organized retail jewelry market. The company has a pan-India presence with a strong network in the east region (store/revenue mix of 75%/ 80%). SENCO operated a total of 165 stores across India, with 97 company-owned stores and 68 franchise stores as of Jun’24. SENCO holds ~4% market share in the eastern region, predominately in West Bengal, where 75% of its eastern region stores are located.
Model Portfolio: We are cutting weights on ICICI, KMB, Maruti, ABB, L&T, HDFC AMC and ITC. We are increasing weights on M&M, Ambuja Cement, Ultratech, Interglobe Aviation, Britannia Inds and LTI Mindtree. We are adding Indusind Bank in model portfolio while we remove Apollo Hospitals. We are increasing weights in Consumer, Cement, IT and Banks while cut weights in Capital Goods, Healthcare and AMC
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