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Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities With destocking in rear-view, shipments and margins to surge Novelis reported 1Q adj. EBITDA of USD421mn, in line with JMfe. Adj. EBITDA came in higher sequentially due to higher pricing and favourable mix despite lower shipments. The company achieved an EBITDA/t of USD479 during 1QFY24 vs US$431 in 4QFY23. Key takeaways from the call are – 1) beverage can segment de-stocking is nearly complete with volumes expected to improve going forward 2) EBITDA/t over the coming quarters expect...
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
13/08/2023 12:32:45 PM
Buy Sun Pharmaceutical Industries Ltd. For Target Rs. 1,255 - JM Financial SUNP’s 1Q earnings were well ahead of JMFe/ street estimates. This outperformance was primarily driven by US generics (ex-Taro) including gRevlimid and healthy specialty sales of USD 232mn notwithstanding seasonality and Mohali/ Halol regulatory issues. The upward trajectory of specialty business continues with increasing volume share of Ilumya and Winlevi (Winlevi has garnered 26% share among top 10 branded drugs). We expect SUNP’s global specialty business to be ~USD 1bn in FY24...
Buy Sun Pharmaceutical Industries Ltd. For Target Rs. 1,255 - JM Financial
Buy Sun Pharmaceutical Industries Ltd. For Target Rs. 1,255 - JM Financial
Source: JM Financial Institutional Securities
13/08/2023 12:21:34 PM
Buy NTPC Ltd For The Target Rs.240 - JM Financial Services NTPC Ltd (NTPC) reported net sales of INR 431bn (flat YoY, -3% QoQ), 3% below JMFe on account of 3% dip in generation. EBITDA for the quarter improved to INR 128.5bn (+19% YoY,+8% QoQ), in line with JMFe on account moderation in fuel cost and other expenses during the quarter. Imported coal accounted for 4% of the total coal requirement in 1QFY24 as compared to 8% in 1QFY23. Adj. PAT came in at INR 49bn (+23% YoY, 2% above JMFe). Current installed RE capacity stands at 3.2GW with additional v...
Buy NTPC Ltd For The Target Rs.240 - JM Financial Services
Buy NTPC Ltd For The Target Rs.240 - JM Financial Services
Source: JM Financial Services
2/08/2023 12:40:02 PM
Future Generali India Life Insurance enters into a strategic partnership with JM Financial Services for wider insurance reach. Future Generali India Life Insurance Co. Ltd., a leading life insurance provider, is pleased to announce a strategic alliance with JM Financial Services Limited, a prominent financial services group. This partnership marks a significant step for Future Generali India Life Insurance Co. Ltd. as it aims to elevate its insurance product offerings and extend its market presence across the country. The collaboration with JM Financial Services will unlock new opportunities for Future Generali In...
Future Generali India Life Insurance enters into a strategic partnership with JM Financial Services for wider insurance reach.
Future Generali India Life Insurance enters into a strategic partnership with JM Financial Services for wider insurance reach.
Source: PR Agency
27/07/2023 2:44:18 PM
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd Capitalising on the India growth story Over the last decade, the market capitalisation (Mcap) of Indian companies has risen ~11% CAGR to ~USD 3.5trln; Cash equities / futures / options segment volume has grown at 16%/ 15%/ 64% CAGR respectively. Capital market penetration will continue to rise, aided by structural tailwinds such as a) Strong GDP growth (pegged at ~6% in the next few years), b) Financialisation of savings (equity investing picking up, currently ~8% of savings), c) Discount ...
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd
Source: JM Financial Institutional Securities Ltd
6/07/2023 5:35:22 PM
JM Financial AMC announces change in Base TER In accordance with SEBI Circular no. SEBI/HO/IMD/DF2/CIR/P/ 2018/18 dated February 05, 2018 and SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2018/91 dated June 05, 2018 on Change and Disclosure of Total Expense Ratio (TER) for Mutual Funds, JM Financial Asset Management Company (AMC) has informed that the Base Total Expense Ratio (TER) (i.e. TER excluding additional expenses provided in Regulations 52(6A)(b) and 52(6A)(c) of SEBI (Mutual Funds) Regulations, 1996) of JM Equity Hybrid Fund-Regular P...
JM Financial AMC announces change in Base TER
JM Financial AMC announces change in Base TER
Source: Accord Fintech
26/06/2023 4:12:09 PM
Buy MTAR Technologies Ltd For Target Rs.2,300 - JM Financial Services Temporary glitch; robust outlook maintained MTAR Technologies 4Q23 results were below expectations. Revenue doubled to INR1.96bn (a tad higher vs our estimates), while EBITDA missed estimates, growing 77% YoY to INR 491mn, 14% below JMFe. Gross margins were impacted due to higher share of clean energy segment and increased employee costs (INR10mn impact) to retain its talent base, which led 310bps EBTIDA margin decline to 25%. Order book remained healthy at INR11.7bn (+81%), as the company...
Buy MTAR Technologies Ltd For Target Rs.2,300 - JM Financial Services
Buy MTAR Technologies Ltd For Target Rs.2,300 - JM Financial Services
Source: JM Financial Institutional Securities Ltd
2/06/2023 2:49:52 PM
Buy Crompton Greaves Consumer Electricls Ltd For Target Rs.435 - JM Financial Crompton Greaves Consumer (Crompton) announced, over the weekend, the proposed scheme of amalgamation (merger) of its subsidiary Butterfly Gandhimati (Butterfly) with itself through share swap (22 shares of Crompton for every five shares in Butterfly; c.3% dilution to the current share count), subject to various regulatory and shareholders approvals. While it refrained from quantifying the merger benefits, it stressed upon various synergies on revenue (distribution/brand/GTM marketing), direc...
Buy Crompton Greaves Consumer Electricls Ltd For Target Rs.435 - JM Financial
Buy Crompton Greaves Consumer Electricls Ltd For Target Rs.435 - JM Financial
Source: JM Financial Institutional Securities Ltd
1/04/2023 12:43:59 PM
Buy Indraprastha Gas Ltd For Target Rs. 500 - JM Financial Services Margin falls, as expected; however, volume also weak IGL’s 3QFY23 standalone EBITDA at INR 4.3bn was largely in line with JMFe/consensus of INR 4.4bn/INR 4.3bn. EBITDA was down 19% QoQ due to the expected decline in margin on account of hike in domestic gas price (to USD 8.57/mmbtu for 2HFY23 vs. USD 6.1/mmbtu in 1HFY23). However, sales volume was 2.4% below JMFe at 8.1mmscmd (up 0.4% QoQ and up 6.1% YoY) as CNG sales volume was 3.2% below JMFe at 6.1mmscmd (down 0.3% QoQ and up 7.8%...
Buy Indraprastha Gas Ltd For Target Rs. 500 - JM Financial Services
Buy Indraprastha Gas Ltd For Target Rs. 500 - JM Financial Services
Source: JM Financial Institutional Securities Ltd
13/03/2023 1:00:35 PM
Buy Schaeffler India Ltd For Target Rs.5,200 - JM Financial Services Favourable mix and localisation efforts drives margin resilience SKF India reported in line revenue/ EBITDA for 3QFY23, but higher tax rate drove net profit miss. Net sales were up 11% YoY to INR10.8bn, in line with JMFe, as we estimate 10-12% growth in domestic automotive segment and industrial segments, while exports would have recorded double digit growth due to low base, in our view. Gross margins largely sustained sequentially at 41.5% (+80bps QoQ, 35.6% in 3QFY22) led by price pass t...
Buy Schaeffler India Ltd For Target Rs.5,200 - JM Financial Services
Buy Schaeffler India Ltd For Target Rs.5,200 - JM Financial Services
Source: JM Financial Services
7/03/2023 2:38:17 PM
Hold Schaeffler India Ltd For Target Rs.3,000 - JM Financial Services Demand hiccups in key segments to slow earnings momentum Schaeffler India 4QCY22 numbers were above of estimates. Net sales were up 18% YoY (inline with JMFe), while EBITDA was up by 20% YoY (9% above JMFe). Domestic automotive segment was up 21% YoY, while industrial segment was muted, registering flat growth YoY. Exports saw a solid growth of 55% YoY due to relocation of plants. Margins came in better at 19.2% (vs JMFe: 18%) due to better mix as automotive aftermarket (in domestic) and e...
Hold Schaeffler India Ltd For Target Rs.3,000 - JM Financial Services
Hold Schaeffler India Ltd For Target Rs.3,000 - JM Financial Services
Source: JM Financial Services
7/03/2023 1:17:20 PM
Paytm share surpasses Yes Securities, Morgan Stanley target; rallies for 4 straight days  After receiving buy ratings from all the top global and domestic brokerage and research firms, Paytm stock price has surpassed the target prices pegged by Morgan Stanley and YES Securities, while is just inches away from the targets set by Bank of America, CLSA, and JM Financial Services. In a span of four trading days, Paytm share price has rallied more than 36 per cent, reclaiming the 700-mark. The analysts turned bullish and raised target price on Paytm stock after the company ...
Paytm share surpasses Yes Securities, Morgan Stanley target; rallies for 4 straight days
Paytm share surpasses Yes Securities, Morgan Stanley target; rallies for 4 straight days
Source: IANS
9/02/2023 3:51:01 PM
Key Stock News: Adani group, L&T Infotech, Mindtree , BSNL , LIC - ARETE Securities Adani group gets approval for NDTV open offer boosting takeover bid Billionaire Gautam Adani’s conglomerate received the regulatory nod to float an open offer for a further 26% stake in New Delhi Television Ltd., marking a crucial milestone in a takeover battle between Asia’s richest person and the broadcaster’s founders. The Securities & Exchange Board of India, or Sebi, approved Adani Group’s open offer, according to a statement on the market regulator’s...
Key Stock News: Adani group, L&T Infotech, Mindtree , BSNL , LIC - ARETE Securities
Key Stock News: Adani group, L&T Infotech, Mindtree , BSNL , LIC - ARETE Securities
Source: ARETE Securities Ltd
15/11/2022 10:03:12 AM
Buy The Ramco Cement Ltd For Target Rs.930 - Sushil Finance Widening geographical reach to drive the volume growth: The company has strong foothold in Tamil Nadu and decent presence in Kerala, Andhra Pradesh, Telangana, Karnataka and over the last few years, it has expanded its presence to West Bengal & Odisha as well. The rapidly rising demand in North Eastern states driven by government’s push for infrastructure projects have attracted cement players to expand into the region. The company has been operating 2.00 MTPA capacity in West Be...
Buy The Ramco Cement Ltd For Target Rs.930 - Sushil Finance
Buy The Ramco Cement Ltd For Target Rs.930 - Sushil Finance
Source: Sushil Finance Ltd
12/09/2022 4:32:21 PM
Buy Route Mobile Ltd For Target Rs.1,660 - JM Financial Services In-line performance; likely to outperform initial FY23 outlook Route’s 1QFY23 operating performance was broadly in-line (even after adjusting for capitalised R&D expenses of INR 59 mn). Company reported revenues of INR 7.3 bn (+16.4% QoQ, +93.1% YoY) which were inline aided by full quarter consolidation of MRM. EBITDA margins improved by 120 bps sequentially to 10.8% aided by flow through of higher gross margins (+130 bps QoQ) reflecting the consolidation of higher margin acquisi...
Buy Route Mobile Ltd For Target Rs.1,660 - JM Financial Services
Buy Route Mobile Ltd For Target Rs.1,660 - JM Financial Services
Source: JM Financial Services Ltd
12/09/2022 4:10:38 PM
Quick commerce services undergoing tectonic shift in India, says JM Financial Shopping through quick e-commerce in India's major cities is set to undergo a never-seen-before "tectonic shift" as e-grocery services have made decent inroads over the past few years, said brokerage house JM Financial Services in a report. The brokerage believes penetration of quick commerce is likely to be much swifter. 'Quick Commerce' or 'Q-Commerce' is a form of e-commerce in which customer orders are fulfilled by platforms within a few minutes of the ...
Quick commerce services undergoing tectonic shift in India, says JM Financial
Quick commerce services undergoing tectonic shift in India, says JM Financial
Source: IANS
15/06/2022 4:12:10 PM