The domestic auto component industry appears to be in a sweet spot as several tailwinds collude to drive a sustainable long term growth opportunity which include: 1) Indian component industry emerging as one of the beneficiaries of the supply chain derisking strategy by global OEMs post continued supply chain disruptions over the last 3-4 years
Nifty: Violation of Crucial Support Validation of Engulfing bear Nifty Index has provided a fresh breakdown on both daily and weekly. Faster downward retracement has been witnessed. Clear negative momentum is visible on charts. Nifty would continue to slide down further in coming days. Oscillators and indicators are placed with negative […]
US generic growth to stay, selective on structural play The pharmaceutical sector, emerging from the volatility of the past two post pandemic and geopolitically tumultuous years, is now on a recovery path in CY23. Overall costs are stabilizing and there are green shoots in the US business. This positive momentum has led to the BSE […]
While Coforge under CEO, Sudhir Singh, has done a good job in the last six years to grow to US$1bn (from a revenue of ~US$420mn), we believe that as the company grows larger, it will be up against competition from the behemoths in the BFSI space (a very competitive vertical which embraced outsourcing/offshoring decades back)
Option chain data for this weekly/monthly expiry is indicating a trading range of 21,500-22,000 zones. On the call side, 22,000 is the strike with highest OI. Majority of call writing was witnessed at this level; indicating resistance. On the put side, 21,500 is the strike with highest OI. As per the data, net call-put writing is indicating significant addition of call writers; which is a bearish indicator. It is advisable to be cautious with longs. Further weakness can be expected as long as index is trading below 21,800 levels
ICICIBC reported a steady set of earnings with a comfortable LCR and LDR. NIM contraction was lower than expectation, resulting in a beat on the operating front. We expect superior performance on most parameters to continue, given its strong digital push, focus on risk calibrated operating returns, and a strong Balance Sheet. We maintain ‘BUY’ with a TP of INR1,195, a 19% upside from its CMP
Stable performance Strong business growth aided a 10% YoY rise in Q3 PPOP despite higher opex; PAT increased 17% to Rs 23bn Reported NIM stayed stable QoQ at 4.3% as increased yield on advances offset rise in cost of deposits TP revised to Rs 1,952 (vs. Rs 1,755) as we tweak estimates […]
Saurabh Mukherjea has added 4 small-cap stocks to Little Champs Portfolio which are favourites of Dolly Khanna, Ashish Kacholia, Shyam Sekhar, Durgesh Shah & other investing luminaries. The Cos have dominant businesses, quality management & other virtues
MCX has successfully executed one of the most complex technology transitions, and the new CDP is running smoothly, with volumes scaling new highs. We believe it’s a new beginning for MCX, with a focus on introducing new products, increasing participation and volume, and improving profitability. The options volume has increased by 4x YoY and is currently >INR 1,400bn
Given the company’s strong growth potential backed by robust deal wins and superior execution capabilities, we recommend a BUY rating on the stock
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