| Daily Alerts |
| Results |
| Tata Motors: JLR margin improves due to currency benefits |
| | JLR business: Currency benefits positively impact EBITDA margin | | | Standalone business reports a profit after 13 quarters | | | Strong demand for new models of JLR and strong balance sheet to drive re-rating of the stock | |
| NTPC: Strong capacity pipeline to drive growth |
| | Clean result print for a change, though fuel cost includes some prior period write-backs | | | Targeting 9 GW of capacity additions over the next two years | | | Maintain BUY rating with a target price of Rs160/share | |
| Mahindra & Mahindra: Trudging along |
| | Operational results below estimates after excluding one-time actuarial gain in staff costs | | | New SUVs to drive volume growth in FY2017E; monsoon key for tractor cycle recovery | | | Fine-tune earnings estimates; maintain ADD with target price of Rs1,380 | |
| Tata Communications: In-line quarter. Risk-reward continues to be favorable; ADD |
| | 4QFY16 earnings print in line with expectations; data business continues to deliver | | | Expect EBITDA growth to revive strongly in FY2017E; reiterate ADD | |
| Prestige Estates Projects: 4QFY16: will residential consolidation continue in FY2017 as well? |
| | Results review: Collections improve, but expenses drive OCF before land, negative for the year | | | Operations review: Five new launches in 4QFY16; meets guidance on most counts but not in sales | | | Guidance, capex and foray into new cities | | | Valuation and view | |
| Jubilant Foodworks: Still waiting for Godot |
| | 4QFY16 - PAT declines 7% as 2.9% SSG not enough to drive profitability up | | | Quick recap of FY2016 - third consecutive year of EPS decline | | | Remain Cautious; REDUCE rating and TP of Rs1,000 remain unchanged | |
| PC Jeweller: Quarter print impacted by jewelry industry strike |
| | Reported comps not comparable yoy due to jewelry industry strike | | | Raises Rs4.27 bn via preference share issue | | | Cut EPS estimates by 17-18%; maintain BUY with revised TP of Rs430 (from Rs500) | |
| Karur Vysya Bank: Relatively better |
| | High operating costs pull down earnings growth | | | Asset sales to ARCs help prevent a slippage but push for a high provision in FY2017 | | | Maintain BUY; inexpensive but near-term earnings growth dented by high provisions | |
| PVR: Good show |
| | 4QFY16 - well-balanced improvement in all key metrics | | | Valuations are reasonable; maintain BUY | |
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