Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Parikshit D Kandpal Report Date : 14 August 2020 Brigade Enterprises (Q1FY21 Results Review) Muted performance. Maintain BUY BRGD reported 1QFY21 pre-sales volume/value at 0.42mn sqft/Rs 2.5bn, registering decline of 63%/58% YoY. While leasing activity was conspicuous by its absence, rental collection from […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Aditya Makharia Report Date : 12 August 2020 Subros (Q1FY21 Results Review) Operations are back at 75% of pre-COVID level. Maintain ADD CMP (as on 12 Aug 2020) Rs 208 TP Rs 220 While Subros reported a weak 1QFY21 (a loss of Rs […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analysts : Ms. Aditya Makharia Report Date : 12 August 2020 Container Corporation (Q1FY21 Results Review) Policy headwinds to the forefront. Maintain ADD CMP (as on 10 Aug 2020) Rs 386,TP Rs 400 Along with a weak 1QFY21 performance (PAT down 73% YoY), CONCOR’s outlook is […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Naveen Trivedi Report Date : 14 August 2020 Symphony (Q1FY21 Results Review) Trade inventory to impact FY21. Maintain REDUCE CMP (as on 11 Aug 2020) Rs 840 TP Rs 810 Symphony’s 1QFY21 performance was weak but broadly in line with estimates. Domestic revenue […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Darpin Shah Report Date : 14 August 2020 Indostar Capital Finance (Q1FY21 Results Review) Asset quality risks remain elevated. Maintain REDUCE CMP (as on 13 Aug 2020) Rs 254 ,TP Rs 267 INDOSTAR’s 1Q earnings came in above the estimates due to lower-than-expected […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Nilesh Ghuge & Mr. Harshad Katkar Report Date : 13 August 2020 Galaxy Surfactants (Q1FY21 Results Review) Higher per-unit EBITDA drives earnings. BUY CMP (as on 12 Aug 2020) INR 1,727, TP INR 2100 Our BUY recommendation on GALSURF with a price target […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst : Mr. Parikshit D Kandpal Report Date : 13 August 2020 NCC (Q1FY21 Results Review) Positive surprise. Maintain BUY CMP (as on 12 Aug 2020) Rs 31,TP Rs 48 NCC Ltd. reported better than expected execution during 1QFY21 with revenue at Rs 11.8bn (vs our […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analysts : Ms. Darpin Shah Report Date : 10 August 20 DCB Bank (Q1FY21 Results Review) A mixed bag. ADD DCBB’s 1QFY21 print was in line. The QoQ de-growth in deposits was underwhelming, but DCBB’s focus on improving deposit granularity was evident and is positive. Asset […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analysts : Ms. Varun Lohchab, Head & Mr. Naveen Trivedi Report Date : 11 August 20 Emami (Q1FY21 Results Review) Weak 1QFY21 though recovery is in sight, Maintain REDUCE Emami posted a weak 1QFY21 as revenue/EBITDA declined by 26/8% YoY (HSIE -19/-9%). The domestic revenue decline […]
Read more..Research Report by Institutional Research Desk at HDFC Securities Research Analyst: Mr. Parikshit D Kandpal Report Date : 7 August 2020 DLF (Q1FY21 Results Review) Stable performance. BUY DLF reported revenue of Rs 5.5bn (-59%/-68% YoY/QoQ, 12% miss). Issuance of the possession letters got adversely affected during the lockdown and, hence, impacted revenue recognition. Rental business […]
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