{LONGTERMINVESTORS} India Daily: Strategy; Change in Reco - Bharat Financial Inclusion; Updates - Sobha, Banks, Consumer Products, Telecom

 

 

 

Special Reports

Strategy

Strategy: June 2016 quarter earnings preview

l We expect net profits of the KIE universe to decline 6.9% yoy l For the BSE-30 Index, we expect net profits to decline 2% yoy and 6% qoq

Daily Alerts

Change in Reco

Bharat Financial Inclusion: Too fast, too sharp; downgrade to REDUCE

l Rich valuations post the recent rally l MFIs command a premium l Limited margin of safety at the current valuations

Company alerts

Sobha: 1QFY17 operations update

l 1QFY16 sales: stagnation continues l What's in store for 1QFY17 results?

Sector alerts

Banks/Financial Institutions: Sales lower, but at higher losses

l Loans sold to ARCs similar to those of FY2015; some banks sell standard assets l SBI and its subsidiaries lead the sale; Axis Bank sold the largest quantum of loans l Key takeaways from the recent asset reconstruction finance conference: ARCON- 2016 l Investment receipts at 0.4% of loans, but it may not be giving a complete picture

Consumer Products: 1QFY17 preview: earnings growth to remain healthy

l Staples growth still subdued; discretionary revenue growth to remain robust l GM-led EBITDA margin expansion pace to moderate as RM tailwinds start to reverse l EBITDA/net profit - robust 16-18% growth aided by RM tailwinds and lower A&SP

Telecom: 1QFY17 preview: soft quarter, Bharti India to outperform

l India wireless - Bharti likely to outperform Idea on most counts

 

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