Analysts of IIFL Securities believe sector valuations have little room for upside as despite a deteriorated growth outlook, Nifty IT Index has performed in line with broader markets YTD.
RBI cut its FY24 inflation forecast for the second time in two MPC meetings, and marginally front ended GDP growth during FY24 while maintaining full yr. number.
The company will use proceeds from the fresh issue towards working capital requirements and general corporate purposes.
If domestic CPI trajectory broadly proceeds along RBI’s projections, we believe that repo rate at 6.5% should provide sufficient disinflationary force to nudge inflation towards RBI’s target level.
Debt/GDP ratio is relatively low, core infrastructure is seeing accelerated improvement and capital productivity is on an uptrend.
Analysts of IIFL Securities believe that TCOM would have to make a sizeable acquisition, which its comfortable leverage ratio (1.3x net debt/Ebitda) should support.
Mgmt. expectation of moderation of growth in PV/CV industries in FY24 is largely in line with analysts of IIFL Securities estimates.
The venture aims to cater to discerning consumers seeking design-led, bespoke, and high-quality jewelry.
The business will be set up under a new venture ‘Novel Jewels Ltd.'
Analysts of IIFL Securities cut estimates by ~10% for FY24-25 and downgrade to REDUCE.