Re: {LONGTERMINVESTORS} Research Reports extracts & summaries - Thread

 

Daily Alerts

Results

Maruti Suzuki: Strong performance

l Sharp sequential jump in average realization leads to positive surprise in the results l Market share gains will continue due to strong response for new models l Margin pressure due to JPY appreciation versus INR can be managed, in our view

Axis Bank: FY2017 to start on a weak note

l Earnings growth trajectory breaks on the back of high provisions l Disclosures improve on stressed loans; 1HFY17 likely to be weak due to higher slippages l Maintain BUY; undemanding valuations and a strong retail franchise

Bharti Infratel: 4QFY16: Steady quarter

l Healthy results, share buy-back announcement a definite plus

ABB: Weak start to the year

l 1QCY16 profitability below estimate led by sharp rise in other expenses l 1Q inflow weak; large HVDC and solar inverter orders will help report strong growth in CY2016 l Revise estimates and target price; retain SELL

IDFC Bank: Operating income in line

l Still early days l Key highlights of 4QFY16 results

Sector alerts

Metals & Mining: Safeguard duty on aluminium - large exports to limit benefits

l Provisional safeguard duty of 5% recommended on aluminum imports for 200 days l Moderate relief as benefit will be diluted due to higher exports and limited domestic sales l Large pricing gap between export-import realizations post safeguard duty can have implications l 5% duty can aid EBITDA by 3-5%; we maintain a cautious outlook on global aluminum prices

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