Expert says that PSU banks were hammered so badly in the last few years that many are still trading at one-time book. So, despite the rally, they are still good buys. The NPA cycle has peaked. Asset quality will continue to improve. Growth will keep coming. State Bank, Canara Bank & PNB are top picks
Jyoti CNC Automation Limited is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting approximately 10% of the market share in India in FY23 and twelfth largest market share globally accounting for 0.4% of the market share globally in CY22
We cover four companies in this report, recommending Buys on Bayer Crop Science, Dhanuka Agritech, Sumitomo Chemicals and UPL. Top Pick Sumitomo Chemical: We prefer Sumitomo Chemicals (India) in agrochemicals, as we believe worst in terms of volume growth and pricing pressure is largely behind and expect gradual recovery as higher stocks piled up globally have started to normalise
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 […]
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