Microfinance—no concerns, but staying watchful The 4QFY24 update from CRIF Highmark puts...
We continue to expect steady ordering activity in the power transmission and distribution (T&...
FY24 saw noteworthy growth in domestic PVs; wholesales/retails (Vahan) grew ~8.6%/9.3% YoY to ~4....
* The conflict intensifies: The clash between Iran and Israel escalated significantly over the we...
Our channel checks suggest demand for summer products has seen significant pick up with products ...
Mar’24 saw the life insurance industry contract by 13.3% in individual APE, on a strong bas...
We interacted with branches of Muthoot Finance, Manappuram Finance and Muthoot Fincorp in the out...
RuPay to get a boost as dependence on foreign card networks reduce Over the past few months, t...
Key Pointers for Mar’24: * 2Ws - Gudi Padwa festive retails expected to grow in key mark...
PVs continue to see steady demand, demand weakness visible in others * The fourth quarter is u...
Birla Opus starts on a positive note; APNT takes steps to counter We visited the markets of Lu...
MOFSL coverage universe to clock 5.6%/6.2% YoY growth in revenue/EBITDA Demand trends were steady...
Stable performance across metrics on loan growth The key takeaways from the RBI’s releas...
GNPA likely to decline to 2.5% by FY25 from 3.9% in FY23 CRISIL Ratings hosted a webinar title...
CVs likely to recover post 2HFY25 Mar’24 overall dispatches across segments were below e...
We believe Q4 will be a mixed bag, albeit again largely a subdued quarter YoY for most sector pla...
Poor box-office collections are likely to lead to a weak performance for PVR Inox in Q4FY24. Lack...
We anticipate overall volumes for wood panel/tiles companies across segments to remain weak owing...
The Telecom Regulatory Authority of India (TRAI) has released the subscriber data for Feb’2...
Asset quality robust but credit costs relatively higher in MFI and personal loans * AUM g...
Estimate RoA gap to sustain at 40-50bp; maintain preference for ICICIBC * ICICIBC ha...
Estimate volume growth of ~10% YoY for coverage universe in 4QFY24 * We estimate our coverage ...
Execution and margin to be key monitorables There has been a moderation in order inflows in 4Q...
4QFY24 review: Sustaining momentum Key highlights of 4Q were: (1) OEMs—strong top-line ...
Festive timing mismatch to dent retails (ex 2W) Key Pointers for Mar’24: * 2Ws - Gud...
The IRDAI has released new regulations related to surrender charges. The new regulations are sign...
Commodity prices stable; gold keeps shining We analyze quarterly price movements in key commo...
MM and MSIL outperform in PVs; BJAUT and TVSL in 2Ws * We have analyzed model-wise data for t...
Policy entails the following: * Investment requirement: Minimum capex of INR41.5b (~USD500m) r...
We met the managements of Oil India, Indraprastha Gas, and Petronet LNG. In this short note, we h...
Our channel checks suggest summer demand is not yet fully visible in products like Fans and Air-c...
Industry growth at high single digit for 2nd straight month * The India pharma market (IPM) g...
Average cement price in 4QTD down ~6% as compared to 3QFY24 averag * Our channel checks sugges...
Loss ratios likely to moderate from the elevated 3QFY24 levels * As a follow up to our ...
Our analyses of the latest quarterly results of 24 global companies indicate no material improvem...
Leveraging favorable demand-supply dynamics The hotel industry maintained its healthy performa...
One last leg of value trade still remains; beyond that focus shifts to growth * The India ups...
TRAI’s Dec’23 subscriber (subs) data shows industry’s MBB (mobile broadband &md...
Q3 results for our covered hotel companies beat our revenue est. though margins for Lemon Tree Ho...
4G subscriber addition remains strong 4G subscriber market share remains stable for the opera...
In 3QFY24, the performance of building material companies under our coverage was muted. Demand wa...
BFSI and Auto in charge again; the Metals sector posts healthy earnings * The Nifty 500 compan...
Re-rating has been sharp but valuations still reasonable; Maintain OW * We resumed coverage o...
Growth, NIM and opex likely to dominate discussions Unlike the traditionally strong fourth qua...
Key Pointers for Feb’24: * 2Ws - Weak HMSI supply aids peers; optimum inventory le...
A deeper probe into the PSU space have led us to a remarkable revelation. Oil & Gas stocks ha...