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Metal Sector Update: Sluggish demand in domestic markets keeps ferrous prices subdued By Motilal Oswal Financial Services Ltd Sluggish demand in domestic markets keeps ferrous prices subdued * During Dec’24, flat steel prices remained largely muted MoM for both HRC and CRC at INR47,000/t and INR53,700/t (vs. INR48,000/t and INR55,500/t in Nov’24), respectively. This is primarily because of weak global prices, weak domestic demand, and elevated imports into India. Chinese HRC (FoB) prices slipped 2% MoM to USD488/t in Dec’24 (USD570/t in Dec’23) and continue to drag the steel prices globall...
Metal Sector Update: Sluggish demand in domestic markets keeps ferrous prices subdued By Motilal Oswal Financial Services Ltd
Metal Sector Update: Sluggish demand in domestic markets keeps ferrous prices subdued By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 03:26:06 pm
Company Update : Dalmia Bharat Ltd By Motilal Oswal Financial Services Ltd Performance below estimate; EBITDA/t at INR767 * Dalmia Bharat (DALBHARA) reported a weak performance in 3QFY25 with EBITDA declining ~34% YoY to INR5.1b (~11% miss due to lower-thanestimated volume and higher-than-estimated variable cost/t). OPM contracted 5.6pp YoY to ~16% (est. ~17%). EBITDA/t stood at INR767 (est. INR800). Adj. PAT declined 78% YoY (60% below estimates due to lower other income). * DALBHARA increased clinker capacity by 0.9mtpa to 23.5mtpa following debottlenecking ...
Company Update : Dalmia Bharat Ltd By Motilal Oswal Financial Services Ltd
Company Update : Dalmia Bharat Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 03:15:37 pm
Company Update : KEI Industries Ltd By Motilal Oswal Financial Services Ltd EBITDA in line; miss on margins * KEII’s 3QFY25 revenue increased by 20% YoY to INR24.7b (in line), as lowerthan-estimated EPC revenue was offset by higher-than-estimated revenue from C&W and SSW. EBITDA grew 12% YoY to INR2.4b (in line). OPM contracted 70bp YoY to 9.8% (70bp miss). PAT grew ~9% YoY to INR1.6b (6% miss). * Gross margin was down 1.0pp YoY and flat QoQ (-1.0pp vs. our estimate) at 22.7%. C&W sales through dealers rose 31% YoY (53% revenue contribution vs. ~5...
Company Update : KEI Industries Ltd By Motilal Oswal Financial Services Ltd
Company Update : KEI Industries Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 03:12:09 pm
Company Update : Indostar Capital Finance Ltd By Motilal Oswal Financial Services Ltd Healthy growth in VF AUM; credit costs elevated   PAT grows ~64% YoY but declines ~13% sequentially * IndoStar’s 3QFY25 PAT at INR277m rose ~64% YoY (PY: INR169m) but declined ~13% QoQ. Credit costs were higher sequentially at ~INR480m (PQ: ~INR193m), translating into annualized credit costs of ~1.8% (PQ: 0.8%). * Total AUM stood at ~INR106b and grew ~32% YoY and ~5% QoQ. On 31st Dec’24, IndoStar sold a pool of assets (worth INR1.74b) from its CV business to an AR...
Company Update : Indostar Capital Finance Ltd By Motilal Oswal Financial Services Ltd
Company Update : Indostar Capital Finance Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 11:57:07 am
Company Update : Sunteck Realty Ltd By Motilal Oswal Financial Services Ltd Strong presales driven by the uber luxury segment Collections to improve once execution ramps up   Operational performance * SRIN reported presales of INR6.35b in 3QFY25, up 40% YoY (in line with our estimate of INR6.5b). The growth was driven by the 66% contribution from the uber luxury and 19% contribution from the premium luxury segments. * During 9MFY25, the company achieved presales of INR16.61b, up 34% YoY, fueled by the strong traction in uber and premium luxury pro...
Company Update : Sunteck Realty Ltd By Motilal Oswal Financial Services Ltd
Company Update : Sunteck Realty Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 11:52:59 am
Company Update : MCX Ltd By Motilal Oswal Financial Services Ltd 7% miss on PAT due to lower-than-expected top-line * MCX’s operating revenue came in at INR3b, reflecting a 57% YoY growth (5% miss). For 9MFY25, operating revenue grew 63% YoY to INR8.2b. * Revenue growth was driven by a strong spike in volumes, increasing 102% YoY. Futures volume grew 37% YoY to INR17.9t and options volume grew 116% YoY to INR130t. * Other income stood at INR230m, growing 30% YoY, and was 13% lower than our estimates. * Staff cost increased 15% YoY to INR3...
Company Update : MCX Ltd By Motilal Oswal Financial Services Ltd
Company Update : MCX Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 11:46:14 am
Company Update : L&T Finance Holdings Ltd By Motilal Oswal Financial Services Ltd Credit costs elevated; MFI stress continues to run its course. NIM + fees declined ~50bp QoQ due to a change in the product mix * L&T Finance’s (LTF) 3QFY25 PAT declined 2% YoY to INR6.3b (~6% beat). PPoP (in-line) grew ~11% YoY to ~INR14.8b. * Credit costs stood at INR6.5b (in-line), translating into annualized credit costs of ~2.5% (PQ: 2.6% and PY: 2.5%). The company utilized macro-prudential provisions of INR1b during the quarter. Including macro-prudential provisions, ...
Company Update : L&T Finance Holdings Ltd By Motilal Oswal Financial Services Ltd
Company Update : L&T Finance Holdings Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 11:43:34 am
Company Update : Oberoi Realty Ltd By Motilal Oswal Financial Services Ltd Jardin-OGC, Thane launch drives pre-sales Strong leasing momentum Operational performance * The company achieved pre-sales of INR19.2b, up 144% YoY (13% lower than the estimate). * 70% of the sales were driven by the new launch of Project Jardin, where OBER sold 466 units valued at INR13.3b, whereas bookings across other projects were weak. * The company successfully concluded the transaction through NCLT for the acquisition of Mulund Asset. * The company entered into a join...
Company Update : Oberoi Realty Ltd By Motilal Oswal Financial Services Ltd
Company Update : Oberoi Realty Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-29 11:34:36 am
Company Update : Can Fin Homes Ltd By Motilal Oswal Financial Services Ltd Disbursements weak; earnings in line Minor deterioration in asset quality; NIM stable sequentially * CANF’s PAT for 3QFY25 grew ~6% YoY to ~INR2.1b (in line). NII grew 5% YoY to ~INR3.4b (inline). Other income was ~INR58m (PQ: INR74m) because of lower disbursements in the quarter, translating into lower fee income. * Opex grew ~20% YoY to INR593m (in line). The company’s cost-to-income ratio stood at ~16.9% (PQ: 17.1%, PY: 14.7%). Its 3QFY25 RoA/RoE was ~2.25%/~17.6%. ...
Company Update : Can Fin Homes Ltd By Motilal Oswal Financial Services Ltd
Company Update : Can Fin Homes Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-28 12:15:09 pm
Company Update : Jio Financial Services Ltd By Motilal Oswal Financial Services Ltd PAT flat YoY; focusing on both expansion and execution * Jio Financial’s (JFSL) 3QFY25 NII declined ~22% YoY to INR2.1b (PY: ~INR2.7b). Other income grew ~64% YoY to INR2.4b, which included investment income of ~INR1.9b (PY: INR1b). * Opex rose ~20% YoY to INR1.2b (PY: ~INR1b). Employee expenses declined ~20% QoQ to INR540m. Operating expenses in 2QFY25 was higher because of CSR expenses and new business incorporation expenses. * PPoP grew ~5% YoY to INR3.3b. Credit costs in 3Q...
Company Update : Jio Financial Services Ltd By Motilal Oswal Financial Services Ltd
Company Update : Jio Financial Services Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-28 12:10:05 pm
EMS Sector Update: From strength to strength: Emerging as a global powerhouse By Motilal Oswal Financial Services Ltd From strength to strength: Emerging as a global powerhouse! * India's Electronics Manufacturing Services (EMS) industry is experiencing a robust growth trajectory, driven by a surge in global orders and blossoming export prospects. Key catalysts of this momentum include a growing influx of orders in railways and aerospace, along with a reinforced global positioning. The sector is poised to benefit from integration into high-value global supply chains, establishing Indian EMS companies ...
EMS Sector Update: From strength to strength: Emerging as a global powerhouse By Motilal Oswal Financial Services Ltd
EMS Sector Update: From strength to strength: Emerging as a global powerhouse By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-28 11:47:12 am
NBFC Sector Update: Structural opportunity in power finance intact By Motilal Oswal Financial Services Ltd Structural opportunity in power finance intact Minor weakness in loan growth in the near term * Power financiers, PFC and REC, have a structural opportunity to finance India’s ambitious energy transition goals, which necessitate a projected capex of ~INR42t over the next decade to expand generation infrastructure. * Renewable energy (RE) will dominate the growth trajectory, with installed capacity expected to reach 596GW by FY32, comprising ~66% of total capacity. Transmission...
NBFC Sector Update: Structural opportunity in power finance intact By Motilal Oswal Financial Services Ltd
NBFC Sector Update: Structural opportunity in power finance intact By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-28 11:31:38 am
Automobiles Sector Update : Auto Expo 2025 OEMs focus on clean fuels By Motilal Oswal Financial Services Ltd Auto Expo 2025: OEMs focus on clean fuels * At the Bharat Mobility Show, we observed a significant focus on EVs and clean fuels among OEMs, both in the 2W and PV segments, as manufacturers work to meet the upcoming CAFÉ regulations. We anticipate a boost in the EV transition for PVs and 2Ws in the coming years, with large OEMs, such as MSIL and Hyundai in the PV segment and HMSI and Suzuki in the 2W segment, launching their own EVs. Suzuki’s move to make India its global hub f...
Automobiles Sector Update : Auto Expo 2025 OEMs focus on clean fuels By Motilal Oswal Financial Services Ltd
Automobiles Sector Update : Auto Expo 2025 OEMs focus on clean fuels By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-28 10:32:33 am
Company Update : Metro Brands Ltd By Motilal Oswal Financial Services Ltd Revenue/PAT up 11%/22% YoY; in-line numbers * Consolidated revenue grew 11% YoY to INR7 (in line), led by 8% YoY area addition and 1% YoY increase in revenue per sqft to INR5,150. * The company added 24 stores (in 5 new cities) and closed 2 stores, taking the total count to 895 stores. Format-wise, it added 6 Metro sores, 4 Mochi stores, 4 Crocs stores, 3 Walkaway stores, 1 Fitflop store, 3 New Era EBOs, and launched its first Foot Locker store. * Shortfall in annual store adds guida...
Company Update : Metro Brands Ltd By Motilal Oswal Financial Services Ltd
Company Update : Metro Brands Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 04:45:31 pm
Company Update : Havells India Ltd By Motilal Oswal Financial Services Ltd Revenue in line; OPM a bit lower than estimate * Havells (HAVL)’s 3QFY25 revenue grew ~11% YoY to INR48.9b (in line), led by improved consumer demand during the festive season and strong infrastructure and industrial demand. However, EBITDA declined ~1% YoY to INR4.3b (~7% miss) and OPM contracted 1.1pp YoY to 8.7% (50bp below our estimate). PAT dipped 3% YoY to INR2.8b (~13% below estimate) due to higher-than-expected depreciation and lower-than-estimated other income. * Commodit...
Company Update : Havells India Ltd By Motilal Oswal Financial Services Ltd
Company Update : Havells India Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 04:39:13 pm
Infrastructure Sector Update: NHAI awarding picks up in 3Q; expectations shift to 4QFY25 now By Motilal Oswal Financial Services Ltd NHAI awarding picks up in 3Q; expectations shift to 4QFY25 now * NHAI’s awarding activity was limited to 227km during 1HFY25, primarily due to the general elections in 1QFY25. The awarding activity has picked up since Sep’24, with ~970km awarded in 9MFY25, and it is anticipated to gain further momentum in 4Q. Despite a pickup in awarding activity, NHAI’s target of 5,000km of projects will be a challenge to achieve in FY25 (in FY24, NHAI awarded ~2,500km of projects). Mute...
Infrastructure Sector Update: NHAI awarding picks up in 3Q; expectations shift to 4QFY25 now By Motilal Oswal Financial Services Ltd
Infrastructure Sector Update: NHAI awarding picks up in 3Q; expectations shift to 4QFY25 now By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 04:33:08 pm
Company Update : CEAT Ltd By Motilal Oswal Financial Services Ltd Operationally in line; higher interest and tax lead to PAT miss * Net sales grew 8% YoY to INR33b (in line), mainly due to healthy YoY volume growth in replacement and exports. * Revenue during the quarter grew ~11% YoY at ~INR33b (in line), led by healthy YoY volume growth in replacement and international business segments. This was further benefitted by improving realizations on both YoY/QoQ basis. * Gross margin contracted ~450bp YoY/60bp QoQ at 36.8% at 63.2% (est. 63.1%) due to ...
Company Update : CEAT Ltd By Motilal Oswal Financial Services Ltd
Company Update : CEAT Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 02:47:34 pm
The Economy Observer Dec`24 CPI inflation down to a four-month low of 5.2% by Motilal Oswal Financial Services Ltd Dec’24 CPI inflation down to a four-month low of 5.2% Deceleration was broad-based * Headline CPI inflation came down to a four-month low of 5.2% YoY in Dec'24 vs. 5.5% in Nov'24. The deceleration was broad-based. Food inflation eased to a four-month low of 8.4% (vs our forecast of 8.8%) and core inflation stood at 3.6% from 3.7% in the previous two months (vs our forecast of 3.8%). On a sequential basis, inflation declined 0.6% in Dec'24. The inflation number was slig...
The Economy Observer Dec`24 CPI inflation down to a four-month low of 5.2% by Motilal Oswal Financial Services Ltd
The Economy Observer Dec`24 CPI inflation down to a four-month low of 5.2% by Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 12:42:09 pm
Healthcare Sector Update: Healthy IPM growth in Dec`24 By Motilal Oswal Financial Services Ltd Healthy IPM growth in Dec’24 * The India pharma market (IPM) grew 6.5% YoY in Dec’24 (vs. 10.7% in Nov’24 and 5.0% in Dec’23), driven by strong outperformance in Cardiac/Antidiabetes/Respiratory by 380bp/90bp/120bp. * Acute therapy growth stood at 5% in Dec’24 (vs. 11% in Nov’24 and 3% Dec’23). The growth moderated due to weak seasonality during the month. * For the 12 months ending in Dec’24, IPM grew 7.6% YoY, led by price/new launche...
Healthcare Sector Update: Healthy IPM growth in Dec`24 By Motilal Oswal Financial Services Ltd
Healthcare Sector Update: Healthy IPM growth in Dec`24 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 12:33:37 pm
Fund Folio : Equity AUM rises for 11 successive years, net inflows more than double in CY24 By Motilal Oswal Financial Services Ltd Equity AUM rises for 11 successive years, net inflows more than double in CY24 Key observations  * Indian markets celebrated another year of gains in CY24, marking a historic milestone with nine consecutive years of returns! Both the global and Indian markets faced significant challenges in CY24, including geopolitical headwinds, regulatory tightening, a strengthening USD, persistent inflation, high interest rates, a consumption slowdown, earnings moderation, valuation concerns, an...
Fund Folio : Equity AUM rises for 11 successive years, net inflows more than double in CY24 By Motilal Oswal Financial Services Ltd
Fund Folio : Equity AUM rises for 11 successive years, net inflows more than double in CY24 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 12:25:50 pm
The Economy Observer WPI rises to 2.4% in Dec`24 by Motilal Oswal Financial Services Ltd WPI rises to 2.4% in Dec’24 Food prices remain elevated * The Wholesale Price Index (WPI)-based inflation inched up to 2.4% in Dec’24 (vs. 1.9% in Nov’24 and 0.9% in Dec’23), mainly led by elevated food prices (especially vegetables) and a slower pace of contraction in prices of fuel & power items (the slowest contraction in the past four months). WPI-based inflation remained positive for the 12th consecutive month after having been in the deflationary zone f...
The Economy Observer WPI rises to 2.4% in Dec`24 by Motilal Oswal Financial Services Ltd
The Economy Observer WPI rises to 2.4% in Dec`24 by Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-27 10:58:06 am
Company Update : Shoppers Stop Ltd By Motilal Oswal Financial Services Ltd In-line results; slight pick-up in growth Shoppers Stop standalone revenue grew 9% YoY to INR13.1b (in-line, 4% YoY in 2Q) driven by 4% LFL growth, while net store additions remained muted for the quarter. * Private Brands revenue declined ~2% YoY to INR1.9b (vs. 15% YoY decline in 2Q), while the Beauty segment reported 3% YoY growth in revenue to INR2.7b (excl. the distribution channel) and 6% YoY growth (incl the distribution channel). * Revenue from Intune stood at INR630m (vs. IN...
Company Update : Shoppers Stop Ltd By Motilal Oswal Financial Services Ltd
Company Update : Shoppers Stop Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Private Wealth Management
2025-01-27 10:51:53 am
Bank Nifty support is at 48000 then 47750 zones while resistance at 48750 then 49000 zones - Motilal Oswal Wealth Management NIFTY Nifty immediate support is at 22950 then 22800 zones while resistance at 23333 then 23500 zones. Now till it holds below 23150 zones, weakness could be seen towards 22950 then 22800 zones whereas hurdles are placed at 23333 then 23500 zones.     BANK NIFTY Bank Nifty support is at 48000 then 47750 zones while resistance at 48750 then 49000 zones. Now till it holds below 48500 zones weakness could be seen towards 48000 then 47750 levels while on the upside hu...
Bank Nifty support is at 48000 then 47750 zones while resistance at 48750 then 49000 zones - Motilal Oswal Wealth Management
Bank Nifty support is at 48000 then 47750 zones while resistance at 48750 then 49000 zones - Motilal Oswal Wealth Management
Source: Motilal Oswal Wealth Management Ltd
2025-01-27 10:14:18 am
Expectations from the Union Budget 2025-26 - Motilal Oswal Financial Services Ltd As the Union Budget 2025-26 approaches, the government is grappling with pressing economic challenges, including slower domestic growth, escalating welfare expenditures, and the imperative for sustained capital investment. This first full-year Budget of the new administration unfolds against a backdrop of subdued economic momentum, a weakening rupee, and heightened global geopolitical uncertainties, particularly with the Trump-led US administration. Unsurprisingly, expectations for bold an...
Expectations from the Union Budget 2025-26 - Motilal Oswal Financial Services Ltd
Expectations from the Union Budget 2025-26 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd Ltd
2025-01-27 09:13:56 am
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai! As one of India’s reliable financial services brands, the Motilal Oswal Group has long been a target for scammers looking to exploit its reputation. Through proactive measures and the deployment of two specialised agencies working tirelessly to combat fraudulent activities, the Group has successfully taken down more than 15,000 fake posts, videos, and apps. However, the menace persists. To better equip investors in identifying and neutralising scams, Motilal Oswal Financial Services ...
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai!
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai!
Source: Motilal Oswal Financial Services Ltd
2025-01-26 01:58:36 pm
The Economy Observer : Nov`24 IIP improves to a six-month high of 5.2% by Motilal Oswal Financial Services Ltd Nov’24 IIP improves to a six-month high of 5.2% led by the manufacturing and electricity sectors *Industrial output growth picked up to 5.2% YoY in Nov’24 (vs. +3.7%/2.5% in Oct’24/Nov’23), the highest in six months. Improvement in IIP was primarily led by the manufacturing and electricity sectors and partly due to a favorable base (Exhibit 1). During Apr-Nov’24, IIP growth averaged 4% YoY, compared to 6.3% YoY in the corresponding period last year. *Man...
The Economy Observer : Nov`24 IIP improves to a six-month high of 5.2% by Motilal Oswal Financial Services Ltd
The Economy Observer : Nov`24 IIP improves to a six-month high of 5.2% by Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-25 02:54:36 pm
Company Update : JSW Energy Ltd By Motilal Oswal Financial Services Ltd Completes acquisition of 125MW RE capacity from Hetero Group *Completes acquisition of 125MW wind capacity: On 10th Jan’25, JSWE announced the successful completion of its acquisition of three Special Purpose Vehicles (SPVs) through its wholly owned subsidiary, JSW Neo Energy Limited (JSWNEL). These SPVs are acquired from Hetero Labs Limited and Hetero Drugs Limited. Previously, on 19th Oct’24, JSWE had disclosed that definitive agreements were executed by JSWNEL to acquire the...
Company Update : JSW Energy Ltd By Motilal Oswal Financial Services Ltd
Company Update : JSW Energy Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-25 02:45:31 pm
Insurance Sector Update:Individual WRP for private players grows 11% YoY in Dec’24 By Motilal Oswal Financial Services Ltd Individual WRP for private players grows 11% YoY in Dec’24 Industry’s individual WRP grows 4.8% YoY; LIC’s individual WRP declines 13% YoY *In Dec’24, the individual Weighted Received Premium (WRP) growth for private players was at 11.4% vs industry growth of 4.8%. Industry growth was impacted due to a 13% decline in the growth of LIC. *Among listed players, individual WRP for SBILIFE witnessed the fastest growth at 16% YoY, while MAXLIFE/IPRULIFE/HDFCLIFE saw...
Insurance Sector Update:Individual WRP for private players grows 11% YoY in Dec’24 By Motilal Oswal Financial Services Ltd
Insurance Sector Update:Individual WRP for private players grows 11% YoY in Dec’24 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-25 01:58:59 pm
Company Update : Senco Gold Ltd By Motilal Oswal Financial Services Ltd Healthy revenue growth Senco Gold (SENCO) released its pre-quarterly update for 3QFY25. Here are the key takeaways: Industry update *Gold prices dropped from their peak of USD2,787/Oz to USD2,605/Oz in Dec’24 (down 6%). Gold prices increased 24% YoY and 8% QoQ in 3Q. *Despite the price increase, Indian consumers continued to buy gold, boosted by the customs duty reduction. Strong consumer demand was witnessed during the Dhanteras period and from the Dec’24 second week...
Company Update : Senco Gold Ltd By Motilal Oswal Financial Services Ltd
Company Update : Senco Gold Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-25 10:39:37 am
Chemical Sector Update: Short-term uptick in chemical prices unsustainable By Motilal Oswal Financial Services Ltd Short-term uptick in chemical prices unsustainable *Most of the chemical stocks on 9th Jan'25 gained to the tune of 2-14% in anticipation of an increase in chemical prices (owing to Chinese New Year) and some specific news items (increase in Ref Gas price by a large US supplier). *Prices of major chemicals that we track have been subdued for the past few months, indicating persistent pricing pressure in the sector. Export realization has also seen a meaningful double-digit decline f...
Chemical Sector Update: Short-term uptick in chemical prices unsustainable By Motilal Oswal Financial Services Ltd
Chemical Sector Update: Short-term uptick in chemical prices unsustainable By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services ltd
2025-01-25 10:28:24 am
The Economy Observer : Household net financial savings likely picked up in 1HFY25 by Motilal Oswal Financial Services Ltd Household net financial savings likely picked up in 1HFY25 Growth in non-housing personal loans moderates, though still high * The Reserve Bank of India (RBI) published updated data on FY24 household net financial savings (HHNFS) in its Dec’24 Bulletin. HHNFS improved slightly to 5.3% of GDP last year from a 47-year low of 5.0% of GDP in FY23 (Exhibit 1). Interestingly, the RBI has revised down its FY23 data from 5.1% reported earlier in Sep’23 and 5.3% published by the Cent...
The Economy Observer : Household net financial savings likely picked up in 1HFY25 by Motilal Oswal Financial Services Ltd
The Economy Observer : Household net financial savings likely picked up in 1HFY25 by Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 04:16:44 pm
NBFC Sector Update: Regulations and weak markets to impact performance By Motilal Oswal Financial Services Ltd Regulations and weak markets to impact performance Profitability trend to be muted sequentially * Across segments, the regulatory environment is likely to influence the performance of non-lending financials in 3QFY25. While F&O regulations are anticipated to have an impact on BSE/ANGELONE, new surrender charges will affect LI players. GI players will be impacted by the changes in the reporting of gross premiums for long-term policies. * Nifty for the quarter was down 8.4%, which ...
NBFC Sector Update: Regulations and weak markets to impact performance By Motilal Oswal Financial Services Ltd
NBFC Sector Update: Regulations and weak markets to impact performance By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 02:55:36 pm
Company Update : Mahindra Finance By Motilal Oswal Financial Services Ltd Business Assets rose ~18% YoY | Stage 2+Stage 3 remains stable QoQ Key takeaways from Dec’24 business update: * 3QFY25 disbursements at INR164.5b, grew 7% YoY. 9MFY25 disbursements stood at ~INR423.5b and grew ~4% YoY. * Gross business assets as of Dec’24 stood at ~INR1.15t, up 18% YoY/2% QoQ. * 3QFY25 CE stood at 95% (PY: 95% and PQ: 96%). * MMFS reported that its Stage 3 is estimated at 3.9% (PQ: 3.8%) and Stage 2 is estimated at 6.3% (PQ: 6.4%). * As of Dec&rs...
Company Update : Mahindra Finance By Motilal Oswal Financial Services Ltd
Company Update : Mahindra Finance By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 02:26:23 pm
Company Update : L&T Finance By Motilal Oswal Financial Services Ltd Retail loans grew ~23% YoY; retail mix now at ~97% Wholesale loans could have potentially declined to ~INR29b * 3QFY25 retail disbursements were up ~4% YoY and flat QoQ at INR152b (PY: INR145b). * Rural business disbursements declined 16% YoY. Farmer Finance disbursements grew 23% YoY, Urban Finance disbursements grew 21% YoY, and SME disbursements rose ~28% YoY. * Retail loan book grew 23% YoY and 4% QoQ to INR922b. * Retail Loan mix increased to ~97% (PQ: 96%) and well ahead ...
Company Update : L&T Finance By Motilal Oswal Financial Services Ltd
Company Update : L&T Finance By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 02:24:28 pm
Company Update : AU Small Finance Bank By Motilal Oswal Financial Services Ltd Advances growth robust; CD ratio inches up AUBANK released its business update for 3QFY25. Here are the key highlights: * AUBANK reported healthy growth of 5.2% QoQ in gross advances to ~INR1t. Including the securitized/assigned loan portfolio, the total loan portfolio grew 3.7% QoQ. * The bank securitized its asset portfolio of INR7.9b in 3QFY25 and INR9b in 2QFY25, resulting in GLP growth of 3.7% QoQ in 3QFY25. * On the liability front, total deposits grew 2.3% QoQ to INR1.1t (1...
Company Update : AU Small Finance Bank By Motilal Oswal Financial Services Ltd
Company Update : AU Small Finance Bank By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 02:19:17 pm
Company Update : IDFC First Bank By Motilal Oswal Financial Services Ltd Business growth healthy; CD ratio at 95.7% IDFCFB released its business update for 3QFY25. Here are the key highlights: * IDFCFB reported 21.9% YoY growth (+3.7% QoQ) in loans and advances to INR2.31t in 3QFY25. * Customer deposits grew by 28.8% YoY to INR2.27t (+4.2% QoQ). * CASA deposits increased by 32.3% YoY/3.5% QoQ. * CASA ratio moderated to 47.8% in 3QFY25 vs. 48.9% in 2QFY25. * CD ratio stood at 95.7% vs. 97.7% in 2QFY25. The bank has been bringing down its CD ratio ...
Company Update : IDFC First Bank By Motilal Oswal Financial Services Ltd
Company Update : IDFC First Bank By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 02:11:58 pm
Company Update : IndusInd Bank By Motilal Oswal Financial Services Ltd Deposits decline QoQ; CD ratio further inches up sharply IndusInd Bank (IIB) released its quarterly update, highlighting the key business numbers for 3QFY25. Following are the key takeaways: * Net advances grew 12.3% YoY/2.8% QoQ to ~INR3.67t. * Deposits growth disappoints as they declined 0.7% QoQ (up 11% YoY to ~INR4.1t), while the CASA mix further moderated 1% QoQ to 34.9%. * The bank’s CD ratio increased sharply to 89.6% (up 3% QoQ) in 3QFY25. * IIB disappointed in te...
Company Update : IndusInd Bank By Motilal Oswal Financial Services Ltd
Company Update : IndusInd Bank By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 01:51:12 pm
Company Update : Union Bank of India By Motilal Oswal Financial Services Ltd Deposit growth modest, CASA mix moderates Union Bank released its 3QFY25 business update. Following are the key takeaways: * Total business grew 4.7% YoY to INR216t. * Advances rose 5.93% YoY (up 2.2% QoQ) to INR9.5t. Domestic advances increased by 5.3% YoY (up 2.1% QoQ) to INR9.1t. Domestic RAM advances grew 6.1% YoY (down 1.45% QoQ). * Deposits grew 3.8% YoY (down 2% QoQ), with domestic CASA deposits declining by 0.44% YoY (down 0.2% QoQ). * Domestic deposits rose 2.5% YoY (d...
Company Update : Union Bank of India By Motilal Oswal Financial Services Ltd
Company Update : Union Bank of India By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 12:51:40 pm
Company Update : Bank of Baroda By Motilal Oswal Financial Services Ltd Business growth healthy; domestic CD ratio at 82.6% Bank of Baroda (BOB) released its 3QFY25 business update. Following are the key takeaways: * Total advances grew 11.7% YoY (up 2.5% QoQ) to INR11.7t, with domestic advances up 11.8% YoY (up 2.6% QoQ). International book grew at 11.2% YoY/up 2% QoQ. Domestic retail loans grew 19.5% YoY. * Total deposits grew at 11.8% YoY (up 2.1% QoQ) to INR13.9t, with growth in domestic deposits at 9.2% YoY (up 1.3% QoQ). * The bank’s globa...
Company Update : Bank of Baroda By Motilal Oswal Financial Services Ltd
Company Update : Bank of Baroda By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 12:44:49 pm
Capital Goods : Riding the Wave of Execution Growth and Margins in 2025 - Motilal Oswal Financial Services Ltd India’s capital goods sector is witnessing a significant resurgence, with strong order inflows and robust execution growth expected to define 2025. The sector is benefiting from increased investments in renewable energy, thermal power, and data centers, alongside government-led infrastructure projects.   Key Sector Highlights: * Order Inflows: Although FY25’s election-driven slowdown affected early order inflows, Q4FY25 is expected to witness a robust rebound. ...
Capital Goods : Riding the Wave of Execution Growth and Margins in 2025 - Motilal Oswal Financial Services Ltd
Capital Goods : Riding the Wave of Execution Growth and Margins in 2025 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2025-01-24 09:46:39 am
Persistent Systems and Kotak Mahindra Bank Among Top Picks for 2025: Motilal Oswal Financial Services Ltd Motilal Oswal Financial Services has identified Persistent Systems and Kotak Mahindra Bank as two of the most promising investment opportunities for 2025. These companies have been selected based on their strong fundamentals, growth potential, and strategic initiatives.   Persistent Systems: A Leader in Tech Innovation * Target Price: Rs 7600 (34% Upside) * Current Market Price: Rs 5655 Persistent Systems has delivered exceptional performance in Q3FY25, with revenue increa...
Persistent Systems and Kotak Mahindra Bank Among Top Picks for 2025: Motilal Oswal Financial Services Ltd
Persistent Systems and Kotak Mahindra Bank Among Top Picks for 2025: Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd Ltd
2025-01-24 09:42:13 am
Opportunities in Uncertainty: Motilal Oswal Private Wealth Recommends Hybrid Investment Approach for H1CY25 According to Motilal Oswal Private Wealth (MOPW), Indian markets are expected to remain volatile in the first half of 2025 due to several global and domestic events, including the new Trump administration’s policies, China’s measures to counter trade tariffs and its possible implications for EM currencies, and the upcoming Indian Union budget. These events are anticipated to create uncertainty in the near term. However, as these events unfold and greater clarity emerges, market vo...
Opportunities in Uncertainty: Motilal Oswal Private Wealth Recommends Hybrid Investment Approach for H1CY25
Opportunities in Uncertainty: Motilal Oswal Private Wealth Recommends Hybrid Investment Approach for H1CY25
Source: PR Agency
2025-01-24 09:37:00 am
Motilal Oswal Projects Market Resilience Amidst Volatility in 2025 In its latest market outlook, Motilal Oswal Financial Services provides a detailed analysis of the opportunities and challenges awaiting investors in 2025. The report highlights that the Indian equity market is expected to experience significant volatility in the short term, driven by global uncertainties such as persistent trade tensions, geopolitical risks, and foreign institutional investor (FII) outflows. However, the medium- to long-term outlook remains optimistic due to India’s ec...
Motilal Oswal Projects Market Resilience Amidst Volatility in 2025
Motilal Oswal Projects Market Resilience Amidst Volatility in 2025
Source: Motilal Oswal Financial Services Ltd Ltd
2025-01-24 09:34:15 am
Renewable Energy: India`s Path to Sustainable Growth in 2025 The renewable energy sector continues to shine as a cornerstone of India’s transition to sustainable growth. With significant investments in wind, solar, and hybrid energy projects, 2025 promises to be a transformative year for the industry. Key Trends and Developments: * Order Inflows: The sector is experiencing robust order inflows, particularly in wind and solar projects, as India pushes to meet its renewable energy targets. * Government Initiatives: Policies promo...
Renewable Energy: India`s Path to Sustainable Growth in 2025
Renewable Energy: India`s Path to Sustainable Growth in 2025
Source: Motilal Oswal Financial Services Ltd Ltd
2025-01-24 09:29:23 am
Nifty immediate support is at 22950 then 22800 zones while resistance at 23200 then 23333 zones - Motilal Oswal Wealth Management NIFTY Nifty immediate support is at 22950 then 22800 zones while resistance at 23200 then 23333 zones. Now till it holds below 23200 zones, weakness could be seen towards 22950 then 22800 zones while hurdles are placed at 23200 then 23333 zones.   BANK NIFTY Bank Nifty support is at 48250 then 47750 zones while resistance at 49000 then 49250 zones. Now till it holds below 49000 zones weakness could be seen towards 48250 then 47750 levels while on the upside hurdle is seen...
Nifty immediate support is at 22950 then 22800 zones while resistance at 23200 then 23333 zones - Motilal Oswal Wealth Management
Nifty immediate support is at 22950 then 22800 zones while resistance at 23200 then 23333 zones - Motilal Oswal Wealth Management
Source: Motilal Oswal Wealth Management Ltd
2025-01-24 09:20:08 am
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai! As one of India’s reliable financial services brands, the Motilal Oswal Group has long been a target for scammers looking to exploit its reputation. Through proactive measures and the deployment of two specialised agencies working tirelessly to combat fraudulent activities, the Group has successfully taken down more than 15,000 fake posts, videos, and apps. However, the menace persists. To better equip investors in identifying and neutralising scams, Motilal Oswal Financial Services ...
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai!
Motilal Oswal Group Calls the Bluff on Fraudsters with #YehConHai!
Source: Motilal Oswal Financial Services Ltd
2025-01-23 12:27:35 pm
Bank Nifty support is at 48250 then 47750 zones while resistance at 49000 then 49250 zones - Motilal Oswal Wealth Management NIFTY Nifty immediate support is at 22950 then 22800 zones while resistance at 23200 then 23333 zones. Now till it holds below 23200 zones, weakness could be seen towards 22950 then 22800 zones while hurdles are placed at 23200 then 23333 zones.   Bank Nifty  Bank Nifty support is at 48250 then 47750 zones while resistance at 49000 then 49250 zones. Now till it holds below 49000 zones weakness could be seen towards 48250 then 47750 levels while on the upside hurdle i...
Bank Nifty support is at 48250 then 47750 zones while resistance at 49000 then 49250 zones - Motilal Oswal Wealth Management
Bank Nifty support is at 48250 then 47750 zones while resistance at 49000 then 49250 zones - Motilal Oswal Wealth Management
Source: Motilal Oswal Wealth Management Ltd
2025-01-23 09:17:07 am
Company Update : Rural Electrification Corporation Ltd By Motilal Oswal Financial Services Ltd Disbursement momentum strong; renewable energy continues to do well * Disbursements grew ~18% YoY, amounting to INR547b in 3QFY25. For 9MFY25, disbursements grew 19% YoY to INR1.45t * Disbursements in the renewable sector rose 58% YoY, amounting to INR63b in 3QFY25. For 9MFY25, disbursements jumped 79% YoY to INR176b. * Renewable energy disbursements contributed ~11.5% of the total disbursements in 3QFY25 (PQ: 12.6% and PY: 8.6%). * View: REC trades at 1.3x FY27E P/BV, and we beli...
Company Update : Rural Electrification Corporation Ltd By Motilal Oswal Financial Services Ltd
Company Update : Rural Electrification Corporation Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services ltd
2025-01-22 01:01:03 pm