Analysts of IIFL Securities believe FY25 will be a year of normalization in Life as growth should revert to teens while margins would start witnessing stability with an upward bias
Consumers have adopted Ecommerce differently across different categories; E-commerce share for Mobiles stands at 58% but for large household appliances, it is only 17%. In the latter, consumers prefer to go to a physical store to check out the look and feel of the product, discuss warranty and exchange, get priority on installation and so on. In recent times, there is a bit of reverse migration from e-commerce to brick-and-mortar stores in mobiles as well. Analysts of IIFL Securities believe that brick-and-mortar organised retail would still grow at ~14% even allowing for some share loss to online platforms.
The deal is anticipated to close within 60 days after the BTA's signature, or on a later date that the parties have mutually agreed upon in writing.
The good news is that overall trade could push CAD to under 1% of GDP in FY24.
Plans for new LNG import terminals are also being developed by GAIL, but they are still in the early phases, according to Gupta.
Retail sales in the United States increased by 0.7% last month, contrary to the 0.3% increase that Reuters's panel of economists had predicted.
In FY23, the company reported a revenue of ₹407.32 Crore, up from ₹296.40 Crore in the previous year. The oil and gas segment contributed 77% of the revenue. Net profit for the fiscal year stood at ₹46.36 Crore, compared to ₹35.98 Crore the previous year. As of the nine months ended December 31, 2023, the total debt of the company stood at ₹56.73 Crore.
Company | LTP(₹) | Change(%) |
---|---|---|
ONGC | 292.2 | +12.35 (4.41%) |
EICHERMOT | 4383.7 | +164.35 (3.9%) |
BPCL | 597.55 | +8.00 (1.36%) |
DRREDDY | 6068 | +57.15 (0.95%) |
Company | LTP(₹) | Change(%) |
---|---|---|
TITAN | 3633.75 | +32.20 (0.89%) |
NESTLEIND | 2569.75 | +17.80 (0.7%) |
TATASTEEL | 161.9 | +1.00 (0.62%) |
HINDUNILVR | 2207.1 | +12.50 (0.57%) |
Company | LTP(₹) | Change(%) |
---|---|---|
LTIM | 4679.55 | -135.60 (-2.82%) |
INFY | 1436 | -32.15 (-2.19%) |
INDUSINDBK | 1509.8 | -30.10 (-1.95%) |
BAJFINANCE | 6958.25 | -118.00 (-1.67%) |
Company | LTP(₹) | Change(%) |
---|---|---|
INFY | 1435.5 | -32.80 (-2.23%) |
INDUSINDBK | 1509.6 | -29.20 (-1.9%) |
BAJAJFINSV | 1628 | -29.30 (-1.77%) |
BAJFINANCE | 6957.6 | -117.40 (-1.66%) |
All eyes on outlook and revenue conversion of previously won deals.
TCS’ commentary reaffirms analysts of IIFL Securities view of only gradual recovery in revenue growth as project completions and lack of new ramp ups beyond large deals weigh on growth. Analysts of IIFL Securities largely maintain their EPS/TP, pegged at 25x 2YF EPS, and forecast 8%/12% USD revenue/EPS Cagr over FY24-26. Maintain ADD.
BSNL combined with reversal of furloughs to drive sequential growth.
Growth in auto volumes to aid year-on-year performance.
Profits could grow at a strong pace.
Amidst rich sector valuations, KKC, BHE, ABB continue to provide comfort on risk-reward.
Companies having exposure to the Discretionary segment (Dyes, Pigments and Polymers) performed better.
While Crompton’s core performance was strong, losses in BGAL led to flat PAT.
Trent continues to be an outlier, driven by aggressive store additions in Zudio as well as healthy SSS growth in its fashion concepts (Westside + Zudio).
MDF margins remained under pressure with GREENP and CPBI reporting 20% and 19% margins respectively in Q3.
Aditya Birla SL PSU Equity Fund (G) | 1 Yrs Returns 95.90 | NAV 32.93 |
SBI PSU Fund (G) | 1 Yrs Returns 93.81 | NAV 29.6229 |
Invesco India PSU Equity Fund (G) | 1 Yrs Returns 86.20 | NAV 56.96 |
ICICI Pru PSU Equity Fund (G) | 1 Yrs Returns 83.54 | NAV 19.4 |
Quant Value Fund (G) | 1 Yrs Returns 74.24 | NAV 19.1586 |
DSP Credit Risk Fund (G) | 1 Yrs Returns 15.22 | NAV 39.7625 |
Nippon India Fixed Horizon-XLV-Sr.5 (G) | 1 Yrs Returns 8.72 | NAV 10.9141 |
TRUSTMF FMP - Series II (1196 Days) - Reg (G) | 1 Yrs Returns 8.53 | NAV 1088.3911 |
DSP Strategic Bond Fund - Reg (G) | 1 Yrs Returns 8.52 | NAV 3039.3401 |
DSP Floater Fund (G) | 1 Yrs Returns 8.45 | NAV 11.8897 |
Quant Dynamic Asset Allocation Fund-Regular (G) | 1 Yrs Returns 57.20 | NAV 15.7314 |
JM Aggressive Hybrid Fund - (G) | 1 Yrs Returns 49.41 | NAV 107.6877 |
ICICI Pru Retirement Fund - Hybrid AP (G) | 1 Yrs Returns 47.55 | NAV 21.97 |
Quant Multi Asset Fund (G) | 1 Yrs Returns 47.40 | NAV 127.1823 |
Bank of India Mid & Small Cap Equity & Debt Fund (G) | 1 Yrs Returns 47.14 | NAV 33.68 |
Quant ELSS Tax Saver Fund - Regular (G) | 1 Yrs Returns 59.93 | NAV 367.3007 |
SBI Long Term Equity Fund (G) | 1 Yrs Returns 58.93 | NAV 379.2903 |
Motilal Oswal ELSS Tax Saver Fund (G) | 1 Yrs Returns 55.09 | NAV 41.9814 |
Bank of India ELSS Tax Saver (G) | 1 Yrs Returns 53.59 | NAV 153.33 |
ITI ELSS Tax Saver Fund (G) | 1 Yrs Returns 51.23 | NAV 21.3124 |
ICICI Pru Nifty PSU Bank ETF | 1 Yrs Returns 86.18 | NAV 70.82 |
Kotak Nifty PSU Bank ETF | 1 Yrs Returns 85.78 | NAV 700.87 |
Nippon India ETF Nifty PSU Bank BeES | 1 Yrs Returns 85.66 | NAV 78.17 |
ICICI Pru Nifty Financial Services Ex-Bank ETF | 1 Yrs Returns 42.01 | NAV 23.27 |
UTI-Nifty Bank Exchange Traded Fund | 1 Yrs Returns 14.20 | NAV 48.53 |
Invest wise with Expert advice
Get better recommendations Make better investments.
Get better recommendations Make better investments.
By continuing, I accept the Terms & Conditions and agree to receive communication on Whatsapp
Get better recommendations Make better investments.
Get better recommendations Make better investments.
By continuing, I accept the Terms & Conditions and agree to receive communication on Whatsapp
The good news is that overall trade could push CAD to under 1% of GDP in FY24.
Overall MF AUM fell in March, but retail shares further improved in the month.
Despite the bounce in WPI inflation, the full year reading for FY24 was still in the negative.
It may not all-out war, but the implications for the Indian economy could be huge.
In the 5 weeks prior to the current week, the start-up collections were to the tune of #152 Million, $243 Million, $205 Million, $226 Million, and $150 Million. In the latest week to April 12, 2024, start-ups raised $105 Million across 21 start-up deals, with Sprinto and Neysa dominating the funding story in the week.
Sheetal Agarwal of IIFL caught up with management of the company, which is launching India's largest SME IPO. Edited Excerpts:
Sheetal Agarwal of IIFL in conversation with management of the IPO bound company. Edited Excerpts:
Sheetal Agarwal of IIFL brings you an insightful conversation about the relevance of ELSS investments today. Edited excerpts:
Sheetal Agarwal of IIFL chats with the management on the eve of the IPO.
A day before its IPO opens for subscription, Sheetal Agarwal of IIFL caught up with management of the company.
In stainless steel, longs capacity at Indore will expand to 220kt by FY26 while Sambalpur would see a new 500kt flats capacity (incl 200kt CR) by FY27.
Its market share improved from 5.5% in Apr’23 to 8.5% in Mar’24. The exit ADTO stands at Rs90-100bn, implying a strong start to FY25. The Star-MF platform remains the preferred platform for MF distributors – FY24 volumes grew by 59% YoY to 421mn.
JB targets to double CMO revenue from USD50mn to USD100mn over the next 3-5 years, driven by geographic expansion, on-boarding new clients, and adding new lifecycle products.
While ILOM witnessed minor market share loss in the Motor segment last year, it has started to recoup the same with high growth in new private car segment. Presence of a multi-channel business model helped them navigate this business cycle. ILOM believes that with the new EoM regulations, industry CoR should improve; benefitting ILOM disproportionately.
Investments towards the expansion of distribution footprint will continue for another two years, which would be offset by elimination of the operating leverage gap due to a better growth profile. As a result, margins should stay largely range-bound in the medium term, and HDFCLI is willing to reinvest for better growth. Analysts of IIFL Securities continue to believe that HDFCLI is a healthy compounding story and should be accumulated post corrections
Analysts of IIFL Securities upgrade FY25/26 EPS by 2-3% to account for higher margins led by the Pen-G project and their TP of Rs1,330 (19x 2YF EPS) implies 21% upside. Although analysts of IIFL Securities base case assumes an OAI/WL on Eugia Unit-3, an import alert will lead to 5-7% downgrade to their Ebitda estimates in the worst-case scenario.
The scheme if extended for FY25, apart from gas IPPs, can also benefit gas importing / trading companies; assuming PLFs to increase to 30% (vs 14% in FY24), India would need to import additional ~5m MT LNG (25% more); GAIL (transmission + trading), PLNG (imports/trade) can materially gain from such imports; for every 1m MT incremental LNG imported, GAIL/PLNG may see 5-10% EPS upgrade; IEX may also gain from higher exchange volumes.
Analysts of IIFL Securities recommend to stay selective with firms providing better visibility (INFO/PSYS), while avoiding turnaround trades (TECHM/WPRO).
Analysts of IIFL Securities replace BAF with Chola Investment in their large-cap picks, along with removing Trent and Mankind after their recent OP, and retain their overall constructive stance. Geo-politics causing a sharp crude spike is a risk.
In 2023, CTSH’s revenue declined by 0.4%, majorly due to a decline in BFSI revenues. However, the growth gap with Indian IT peers reduced in BFSI, North America and Europe. Analysts of IIFL Securities believe a stable CTSH can pose threat to Indian IT peers’ market share in future. Acquisitions contributed 110bps to the growth in CY23.
With the impending elections in Q1 and monsoons in Q2, cement demand could see some moderation. But, with the current government most likely continuing, the focus on infrastructure spends and affordable housing should remain intact; driving cement demand over the medium term. Thus analysts of IIFL Securities maintain their positive view on the sector and BUY on UltraTech Cement, Dalmia Bharat and JK Lakshmi.
Tractors declined ~25% YoY in Mar’24 and ended FY24 down 7-8% YoY. Although the end-demand has been weak, the rate of decline was magnified in March, due to a shift in the festive calendar (high base in March 2023).
Script Name | Put | Call | Ratio |
---|---|---|---|
NIFTY | 91,905 | 139,486 | 0.66 |
Script Name | Put | Call | Ratio |
---|---|---|---|
NIFTY | 91,905 | 139,486 | 0.66 |
Since March 2022, when the Fed hawkishness first manifested, the Fed has hiked rates by 375 basis points. However, till June 2022, inflation was on the ascendant, when the US consumer inflation peaked at 9.1%. Since then, the inflation has gradually tapered from 9.1% to 7.7%. While a 140 bps fall may not sound substantial, what is notable is that in October 2022, the consumer inflation was lower than the consensus street expectation.
Mahindra & Mahindra Financial Services (M&M Finance), which posted better-than-expected profits for the September quarter, increased by as much as 10% during early trade on Thursday.
Steelcast announced that the Board of Directors of the Company at its meeting held on 20 October 2022, has recommended a Second Interim dividend of Rs.1.35 per share (i.e.27%), subject to the approval of the shareholders
T. Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), announced on Wednesday that the central bank will introduce its digital currency as a pilot project this year.
You can invest in 11 different sectors in the stock market. This type of industry categorization helps the portfolio manager create a diverse portfolio and allocate funds more efficiently.
Nifty and Sensex are benchmark index values for measuring the
overall performance of the stock market. Nifty is the Index used
by the National Stock exchange, and Sensex is the Index used by the Bombay Stock Exchange.
From equities to IPO, invest in instruments with just a tap and achieve all your financial goals.
IIFL Securities Demat account flawlessly integrates with your trading & bank account for the best trading experience.
Your Demat account includes recommendations from our top-notch research team to help you choose the best investment.
IIFL Securities offers custom portfolio management services based on your risk appetite to maximize your financial goals.
The Demat account also includes various tools like options strategy builder, algo trading etc for ease of trading.
With an IIFL Securities Demat account, you will get a chance to bid for the IPO before it has even opened for subscription.
of customer loyalty
app download
customers satisfied/happy people
AUM*
Track your stocks directly from anywhere and set customized alerts.
Perform in-depth analysis as an investor or a technical player.
Get live charts and access to advanced markets in-depth.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.