L&T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi-dimensional underwriting engine. The MD & CEO, as part of his opening address, highlighted LTF’s transition from being a wholesale lender to diversifying retail and digital initiatives, making it future ready with digital at the core
Time to Act now! – After the recent correction, we believe the market is in the oversold zone. The number of stocks trading above 200 day day-moving average in the NSE 500 universe is hovering around 38% and the long-term average is 55%. Two months back, this number was hovering around 85-90%, typically indicating the overbought territory of the market. In the last 40-50 days, the market saw the journey from overbought to oversold.
HPL is strongly positioned to witness healthy growth led by robust opportunity arising in smart meters segment. Moreover, consumer & industrial segment too is poised to grow considerably in the coming period. We estimate revenue CAGR of ~22% over FY24-27E while EBITDA & PAT to grow at ~28% & ~48% CAGR respectively over the same period
ROHL plans to add ~1,600 rooms across 21 hotels in the next 12 months. We see a 5% growth in ARR in FY25 on the back of healthy domestic demand, constrained supply in the industry, and likely improvement in the product mix. We see ROHL as one of the key beneficiaries of sectoral tailwinds. We downgrade our FY26 EBITDA/PAT estimate by 9%/10% to account for near term margin pressures due to refurbishment and renovations and a slightly lower-than-expected occupancy. We revise our TP to INR431 (12x FY26E EV/EBITDA). Maintain ‘BUY’.
PSP Projects (PSPPL IN) recently signed a definitive agreement with Adani Infra (100% owned by the Adani Group) to sell ~30.07% stake (~50% of total promoter stake of ~60.14%) for INR ~6.9bn, valuing the company at INR 22.8bn. The strategic partnership augers well for both parties
Sobha Ltd (SOBHA) reported
ookings of INR11.8b (41% below estimate) in 2QFY25, down 32%/ 37% YoY/QoQ. The decline in performance was due to slower sales in recently launched projects. SOBHA has launched new projects with a total area of 0.5msf.
Sansera Engineering (SEL), est. in 1981, is a Bengaluru based, engineering led, integrated manufacturer of critical precision forged components (engine, non-engine) for end application, predominantly in auto domain.
Amalgamation of Ador Fontech complete: We incorporate the restated consolidated financials of the company which include the numbers of Ador Welding, Ador Fontech and its subsidiary 3D Future Technologies from FY24 onwards for a complete assessment of the business
Revenue for Suraj Estate Developers (SURAJEST) grew 5% YoY to INR109cr in Q2FY25 on steady execution. EBITDA was flat YoY at INR63cr, with margin contracting by 287bp YoY to 58.2% on higher construction and employee cost. PAT surged by 88% YoY to INR32cr on lower (52%) interest cost led by de-leveraging and re-financing of high-cost debt
NTPC Green Energy Ltd (NGEL), a wholly owned subsidiary of NTPC Ltd is the largest renewable energy public sector enterprise (excluding hydro energy) in term of operating capacity as of Sep’24 and power generation as of Mar’24. The company’s renewable energy portfolio includes both solar and wind power assets with presence across multiple locations in more than 6 states which helps in mitigating risk of location specific generation variability
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