Faster recovery improves earnings visibility
* VBL’s Q4CY20 operating performance was largely in line with our expectations but better than consensus estimates (..
Capacity utilisations meet normalcy
Our BUY recommendation on GAIL with a price target of INR 153 is based on 14% CAGR expansion in gas transmission volume over FY21-2..
Margin miss to limit upsides
* Q4CY20 earnings missed expectations by ~15% on account of lower margins from higher employee and marketing costs. Domestic sales growth ..
Import substitution to drive outperformance
3Q revenues (+24% YoY/15% QoQ) and margins at 17.3% were above estimates as the parts supplier continues to grow ahead of i..
No tariff hike = no fund raise or vice versa?
* VIL reported in-line results, with EBITDA rising 2.6% qoq after adjusting for the oneoffs/change in accounting policy. ..
A steady quarter
Eicher’s consolidated 3QFY21 PAT at Rs 5.3bn (+7% YoY) was led by a sharp revival in the VECV segment. On Royal Enfield, while demand for the Me..
Continues to deliver ahead of expectations
* Voltas saw strong revenue growth across segments in Q3, beating our estimates by 10- 37%. UCP revenue growth of 40% yoy (a..
Execution recovery leads to beat
J Kumar (JKIL) reported revenue/EBITDA/PAT at Rs 8.1/1.2/0.45bn, beating our estimate by 21/7/12% on better-than-expected execution re..
Valuations limit upside potential; downgrade to Hold
* Q3FY21 revenue grew 12% yoy to Rs19.6bn, below the estimate of Rs20.4bn due to lower-than-expected growth in th..
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Both segments continue to perform
JK Cement delivered strong volume growth across both grey (+25% YoY) and white/putty (+17% in India) segments, gaining market share...
Margin stability key to earnings...
Castrol India’s operating revenue for Q4CY20 declined 7.6% YoY to | 935.2 crore. Volumes were at 52 million litre, down ~4% ..
Rupee falls 10 paise to 73.94 against US dollar in early trade
Rate decision, US stimulus likely constraints to rupee's further appreciation
NCLT approves sale of IL&FS education arm to LEHL
Hyundai Motor India adds new Board members
Vodafone Idea board to mull raising funds post AGR verdict
Google AI helping India boost maternal health
Finance Minister Nirmala Sitharaman joins leaders of tomorrow at IIM Ahmedabad for interactive session
`Apparel exporters in Faridabad should get benefits of EPCG`
Indian shares tumbled on Friday By Keshav Lahoti, Angel Broking
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