Second wave of COVID-19 hits hard
2Ws worst hit; Strong order book supports PVs, but new bookings decline
* Regional lockdowns (in nine states) and the uncertaintie..
Above est.; led by lower cost inflation, better cost mgmt.
Double-digit margins achieved in 4Q; balance sheet deleveraged
* TVS Motor Company (TVSL)’s operati..
Sales outlook improving; margin disappoints
* BRIT’s 4QFY21 topline growth was in line with volume growth, slightly above our expectation (7%) at 8%, even as the..
Asset quality improves; expect a normalized FY22
* Bajaj Finance (BAF)’s 4QFY21 PAT grew 42% YoY / 18% QoQ to INR13.5b (2% miss). While NII beat our estimates by..
Outlook remains strong, but priced in Maintain Neutral
* Hindustan Zinc (HZ)’s 4QFY21 results were strong as EBITDA jumped 19% QoQ to INR38.8b on record-hig..
Below our estimate; higher RM cost hurts margin; order backlog strong
Higher cost inflation to keep margin under pressure in 1HFY22E
MSIL’s 4QFY21 operating ..
Multiple levers to aid growth over next 3 years
API/Synthesis drive earnings in 4QFY21
* LAURUS delivered in line performance in 4QFY21, with highest ever quarterly..
Steel mills hike prices by INR4,000-4,500/t in May’21
Domestic prices still at a discount of ~INR8,000/t to imports
* Price hikes continue in May’21: D..
Highest ever GST collections in Apr’21
* Goods and Service Tax (GST) collections came in at INR1.4t in Apr’21, above INR1.2t collected in Mar’21, and..
Strong collections; operations in line
Long-term outlook intact; maintain Buy
* IndiaMART delivered in line revenue performance in 4QFY21. While paid suppliers rema..
Deal conversions remain lackluster
* Tata Communications (TCOM)’s 4QFY21 revenue/EBITDA missed our estimates by 5%/8% on lower-than-expected revenues in both the..
Business momentum remains robust; asset quality deteriorates sequentially
* AUBANK reported a 4QFY21 PAT of INR1.69b (up 38% YoY; MOSLe: INR2.64b), impacted by higher ..
Rupee strengthens against US dollar on Tuesday
Rupee falls 10 paise to 73.94 against US dollar in early trade
NCLT approves sale of IL&FS education arm to LEHL
Rate decision, US stimulus likely constraints to rupee's further appreciation
Rupee slips on RBI's dovish stance, 'loose' policy
NE India's 15th airport becomes operational, caters to Bengal, Bhutan
CBIC allows undertakings in lieu of bond to facilitate critical imports
Bandhan Bank`s net profit falls 80% on higher provisioning
Weekly Tech Picks - MOIL Limited, CESC Limited, Bharti Airtel Limited, Indo Count Industries Limited By Axis Securities
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