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Oil steady as markets await clarity on tariffs by Trump on Canada, Mexico Oil prices were little changed in early trading on Thursday, as markets watched for tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States. Brent crude futures rose 7 cents, or 0.1%, at $76.71 a barrel by 0122 GMT. U.S. crude futures climbed 17 cents, or 0.2%, to $72.79. U.S. crude futures had settled at their lowest price this year on Wednesday. U.S. President Donald Trump still plans to make good on his promise to issue tar...
Oil steady as markets await clarity on tariffs by Trump on Canada, Mexico
Oil steady as markets await clarity on tariffs by Trump on Canada, Mexico
Source: Reuters
2025-01-30 09:48:40 am
Company Update : IndiaMART Ltd By JM Financial Services Ltd Favourable risk-reward; upgrade to BUY We upgrade INMART to BUY from SELL earlier following ~28% correction since our last published note. As expected, the stock has seen significant de-rating due to sharp deceleration in collections growth in 2QFY25 and muted paying supplier additions over the past 6 quarters. While we do not see material improvement in these key metrics in 3Q, from a medium-term perspective we see collections in the standalone business growing around low teens vs. 5% YoY...
Company Update : IndiaMART Ltd By JM Financial Services Ltd
Company Update : IndiaMART Ltd By JM Financial Services Ltd
Source: JM Financial Services Ltd
2025-01-12 04:33:27 pm
Company Update :Tata Consultancy Services Ltd By Elra Capital Ltd Focus to turn to international markets in FY26 Tata Consultancy Services’ (TCS IN) Q3 show was weak on revenue, while margins were in line with ours and street expectations. Deal wins came in above the guided range, which should provide some visibility to growth in the near term. Also, led by conversations with clients, TCS sounded confident on strong recovery in the international markets in CY25/FY26 (possibility of high single-digit growth). This suggests that discretionary spend m...
Company Update :Tata Consultancy Services Ltd By Elra Capital Ltd
Company Update :Tata Consultancy Services Ltd By Elra Capital Ltd
Source: Elara Capital
2025-01-12 11:43:03 am
Company Update : Eureka Forbes Ltd By Emkay Securities Ltd Rebuilding the category, reviving its legacy We recently engaged with the management of Eureka Forbes (EFL) to delve into its organizational reboot. KTAs: 1) EFL is transforming its product, service, and operational verticals, unlocking significant growth in its core categories of water purification/vacuum cleaning (which it pioneered), and where it continues to enjoy leadership with ~40%/60% market share; it recently entered the air purification vertical; 2) EFL, via various strategic ini...
Company Update : Eureka Forbes Ltd By Emkay Securities Ltd
Company Update : Eureka Forbes Ltd By Emkay Securities Ltd
Source: Emkay Global Financial Services
2025-01-12 11:16:52 am
Company Update :Bajaj Finance By Motilal Oswal Financial Services Ltd Strong customer additions; AUM growth in line at ~28% YoY New loan bookings clock a healthy ~22% YoY growth *Total customer franchise stood at ~97.1m, up ~21% YoY/5.5% QoQ. *BAF added ~5m new customers (vs. 3.85m YoY), well ahead of its previous high of ~4.5m. *New loan bookings were the highest ever and rose ~22% YoY to 12.1m (vs. 9.9m in 3QFY24). *AUM growth was in line with the reported AUM at INR3.98t, up ~28% YoY/~6% QoQ. *The deposit book stood at INR688b and grew 19% ...
Company Update :Bajaj Finance By Motilal Oswal Financial Services Ltd
Company Update :Bajaj Finance By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-12 10:25:01 am
Company Update : HDFC Bank Ltd By Motilal Oswal Financial Services Ltd Deposit growth on track; sell-down of advances results in lower advances growth HDFCB released its 3QFY25 business update. Following are the key takeaways: *Gross advances grew 3% YoY/0.9% QoQ to INR25.4t. Gross of transfers through IBPCs and bills rediscounted, the loan book grew 6.1% YoY/1.9% QoQ. *As per the bank’s internal classification, domestic retail loans grew 10% YoY, commercial & rural banking grew 11.5% YoY, and wholesale loans decreased by 10.3% YoY. *Deposi...
Company Update : HDFC Bank Ltd By Motilal Oswal Financial Services Ltd
Company Update : HDFC Bank Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-12 10:19:43 am
Company Update : Campus Activewear Ltd By JM Financial Services Ushering in new phase of Campus 2.0 We recently met the management of Campus Activewear, which said it is confident on regaining the lost growth momentum and is targeting mid teen’s revenue growth and 15- 17% margins over the medium term led by multiple initiatives it has taken over the past 18 months like (1) Plugging product portfolio gap, (2) curated marketing to improve brand image, (3) centralised planning and supply chain management, (4) shift towards a more market place model ...
Company Update : Campus Activewear Ltd By JM Financial Services
Company Update : Campus Activewear Ltd By JM Financial Services
Source: JM Financial Services Ltd
2025-01-05 03:35:37 pm
Company Update : Varun Beverages Ltd By JM Financial Services Grabbing opportunities, nailing execution India business – play on portfolio and distribution expansion: VBL’s share in PepsiCo’s soft drinks total volume sales in India increased to c.90% in CY24, up from <30% in CY11 – a function of geographic expansion and superior execution on go-to-market (GTM) and supply chain. While territory acquisitionled growth opportunity is not much, we see multiple growth drivers in India – a) leveraging Pepsico’s innovat...
Company Update : Varun Beverages Ltd By JM Financial Services
Company Update : Varun Beverages Ltd By JM Financial Services
Source: JM Financial Services Ltd
2025-01-05 01:00:09 pm
Company Update : Punjab National Bank By Motilal Oswal Financial Services Ltd Robust business growth; maintains CD ratio at 72.7% PNB released its quarterly business numbers for 3QFY25. Here are the highlights: *Gross global advances grew by a robust 15% YoY/4.7% QoQ to ~INR11.1t. Domestic advances grew 14% YoY/ 5% QoQ, forming 95.5% of the total advances pool. *Deposits growth was also robust at 15.6% YoY/4.9% QoQ to INR15.3t. Domestic deposits grew 14.4% YoY (4.2% QoQ). *The bank’s CD ratio stood at 72.7% vs 72.8% as of 2QFY25. *Overall, PNB post...
Company Update : Punjab National Bank By Motilal Oswal Financial Services Ltd
Company Update : Punjab National Bank By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services ltd
2025-01-05 12:05:25 pm
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd Kotak Mahindra Bank (KMB) has shown a decline in performance over the last three years (3Y return: -7.4, 1Y return: -13.3%) compared to the returns of Bank Nifty (3Y return: 37.4%, 1Y return: 11.5%) and Nifty (3Y return: 43.6%, 1Y return: 21.6%). This underperformance can be attributed to several factors, including the stepping down of Mr. Uday Kotak, slower business growth relative to Kotak’s usual standards, and supervisory actions by the RBI. However, the bank has maintained strong a...
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Source: LKP securities Ltd
2024-06-03 06:02:49 pm
Company Update : Vedanta Ltd - Yes Securities Ltd We attended the analyst day meet at Vedanta Ltd held on the 27th of February 2024. The analyst meet focused on the demerger story and potential value unlocking from the same. The meet also laid out the expansion plans under different verticals for the company. At the CMP, the company currently trades at 5.01x EV/EBITDA at FY24E as per Bloomberg estimates. Demerger aimed to unlock potential value On 29th September 2023, the Vedanta board approved a pure-play, asset-owner business model ...
Company Update : Vedanta Ltd - Yes Securities Ltd
Company Update : Vedanta Ltd - Yes Securities Ltd
Source: Yes Securities Ltd.
2024-05-27 12:47:19 pm
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd View & Valuation In its investor day, Ramkrishna Forgings (RMKF), reemphasized its focus to diversify revenue base from CV to other segments of auto (2W, PV, OHT) and non-auto (Oil and gas, railways and mining). RMKF targets revenues of Rs45-48b by FY26E (v/s ~Rs26b in 9MFY24). This will be led by standalone business (~62% incremental contribution) and balance by recently acquired entities such as, 1) MACL-JMT revenues to be at Rs6-6.75b in FY26E (v/s Rs1.75-2.25b annualized in FY24E) ...
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd
Source: Yes Securities Ltd.
2024-05-27 12:43:44 pm
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited Going aggressive on white spaces TCPL’s acquisitions of Capital Foods and Organic India signify aggression to tap white spaces with a clear intent to build a more comprehensive premium F&B portfolio with high growth potential. The acquisitions are at c.6.8x and c.5.2x FY24E sales of Capital Foods and Organic India vs TCPL’s own valuation at c.7x at CMP, c.5-5.5x at 3-6M ago prices, and add c.6% to TCPL’s Sales and EBITDA. Capital Foods has scaled well in the past (5-y...
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited
Source: JM Financial Institutional Securities Ltd
2024-01-27 12:16:42 pm
Rupee likely to decline on yuan-led weakness in Asia fx The Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields. Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar, compared with 83.1025 in the previous session. The rupee has been flirting with the record low of 83.29 but has been avoiding amid intervention by the Reserve Bank of India. Despite the RBI's efforts, it "does feel inevitable" that the rupee wi...
Rupee likely to decline on yuan-led weakness in Asia fx
Rupee likely to decline on yuan-led weakness in Asia fx
Source: Reuters
21/08/2023 9:08:51 AM
Gold firms as dollar, yields fall before US inflation test Gold prices firmed on Monday after a slower-than-expected U.S. job growth data knocked the dollar and bond yields off their recent highs, as investors brace for this week's inflation test that could influence the Federal Reserve's policy path. FUNDAMENTALS * Spot gold was steady at $1,942.33 per ounce by 0130 GMT, off an over three-week low hit in the last session. U.S. gold futures rose 0.1% to $1,977.20. * The U.S. dollar index fell and benchmark 10-year Treasury yields sli...
Gold firms as dollar, yields fall before US inflation test
Gold firms as dollar, yields fall before US inflation test
Source: Reuters
7/08/2023 9:12:44 AM
Rupee to recover on pullback in US yields after jobs data The Indian rupee is expected to recover on Monday on the back of a pullback in U.S. yields and the decline in the dollar after the U.S. economy added fewer jobs than was forecast. Non-deliverable forwards indicate rupee will open at around 82.70 to the U.S. dollar, compared with 82.84 in the previous session. The dollar index retreated 0.4% on Friday. Asian currencies began the week on a higher note. There will be relief for the rupee at the open "to an extent," with dollar...
Rupee to recover on pullback in US yields after jobs data
Rupee to recover on pullback in US yields after jobs data
Source: Reuters
7/08/2023 9:04:42 AM