Key highlights of Q2 FY21 performance
* NBP – NBP was at Rs58.7bn and registered a growth of 47%, which was better than our forecast of 33%. The growth was led b..
* PNC Infratech has reported better‐than‐expected performance during Q1 FY21 (considering covid‐19 related impact). Its revenue declined 31.5% yoy ..
Volatility likely to pick up
August series proved nightmare for short sellers as midcaps rallied on back of short covering, while rotation trades visible as laggards l..
* Significant NIM expansion and lower opex drove a small beat over our higher‐than‐street PPOP estimate. Precautionary covid‐related provisions of ..
* KNR Constructions (KNRC) reported topline growth of 3.2% yoy (to Rs.4.8bn), well ahead of street and our expectations. Despite Covid‐ 19 impacting op..
* HG Infra Engineering reported topline de‐growth of 43.4% yoy (~Rs.3.0bn) which was impacted due to COVID‐19 related shutdown. Operating margin, how..
* Though Cochin Shipyard delivered weak Q1FY21 results owing to Covid‐19 led disruptions, mgmt. seems confident of achieving flat top line growth with ..
* Dilip Buildcon Ltd (DBL) delivered decent topline performance during Q1 FY21 with standalone revenues at Rs.18.9 bn (‐ 17.5% yoy). This was desp..
* A healthy operating performance with PPOP coming in‐line with expectation. Miss on NII (decline in NIM) was made up by cost containment (driven parti..
* JMC Projects delivered subdued performance during Q1 FY21 with standalone revenues declining 48% yoy (to Rs.4.7bn). The execution was impacted due to C..
* Total volumes in Q1FY21 declined sharply by 46.3% y/y and stood at 0.32 MT. This was primarily due to extended lockdown period in Western India –..
* KKC’s PAT came in ahead of est. as higher other income (incl. exceptional gain of Rs357mn due to interest on tax refund) & gross margin expan..
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