Weak quarter; focus on CY24 The IT sector (coverage universe) is expected to post a weak quarter with a sequential decline. This is due to increased furloughs, Q3 seasonality, a prolonged deal conversion cycle, and compression in discretionary and renewals. Positive factors for the quarter include the ramp-up of mega deals (BSNL/Verizon for TCS/HCLT) and […]
We find MHRIL, SAMHI and EIH (not in coverage) to be better positioned from risk-reward perspective in the Hospitality space
Indian Banking Sector Bank loans to NBFCs and other personal loans moderate SCB’s gross non-food credit growth Nov’23: Unsecured Retail still strong, Weakness in Infra credit. Overall bank credit growth momentum improved to 20.6% yoy (16% yoy exmerger) with non-food credit growth of 21% yoy (16% yoy ex-merger). This was led by continued momentum in […]
The dividend yield is computed based on the closing price as of 29th December 2023. SBICap has considered companies that have consistently paid dividend in all the last 3 years – i.e FY23/CY22, FY22/CY21 and FY21/CY20
Banks Sectorial Credit Increased risk weight could impact growth ahead Banking sector (non-food) credit improved sequentially in Nov’23 to 20.8% YoY (@16.3% YoY ex HDFC Ltd) vs 19.8% in Oct’23. Driven by HDFC Ltd individual loans, retail portfolio grew by 30.1% YoY (@18.6% ex HDFC Ltd) while services segment grew by 25.4% YoY (@21.9% ex […]
HPL is well positioned to witness healthy growth led by strong demand arising in smart meters segment. Moreover, switchgear & wire & cable segments too is poised to grow considerably in the coming period. We estimate revenue, EBITDA and PAT to grow at 19.7%, 28% and 53% CAGR respectively over FY23-26E as against single digit growth over FY20-23
USE ANY DECLINE TO CREATE FRESH LONG POSITIONS BY KEEPING SL AT 21000 LEVEL To Sum it up, higher open Interest in the Nifty Futures’ as compared to last series (long rollover), FIIS long to short ratio in the Index Futures at 2.28, highest since November 2022 (Long build up by FIIS in the Index […]
JB Chemical’s (JBCP) has entered into Trade Mark License agreement with Novartis Innovative Therapies AG, beginning Jan’27, for a portfolio of 10 opthalmic brands in Indian market. Initially the company will in-license all 10 brands (generic in nature) from Novartis for a period of 3 years starting Dec’23 for Rs 1.25bn and later acquire all 10 brands for a consideration of $116mn (Rs 9.64bn) payable on or before 31st Dec26
Our Dec 2024 target for Nifty is set at 25,000 wherein we have valued Nifty at 20x PE on FY26E EPS of ₹1,250/share with corresponding Sensex target set as 83,250; offering a potential upside of ~15% from current index levels
Top Picks: Navin Fluorine International Ltd: Company’s topline & bottom-line grew at CAGR of >20% over FY16-FY23, primarily led by robust growth from specialty chemicals and CDMO business segments. Going forward, we remain bullish on the stock led by its strong focus on late entry products with completion of cGMP4 by CY24 coupled with […]
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