| Daily Alerts |
| Results |
| Tech Mahindra: Long road |
| | 1QFY17: solid enterprise segment; Comviva drags EBIT margin | | | EBIT margins will take longer to recover; we forecast flat EBIT in FY2017 and increase in FY2018 | | | Maintain BUY rating; cut FY2017E EPS to reflect lower profitability | |
| PVR: A step closer |
| | 1QFY17 - Steady quarter; Regional /dubbed content makes up for shortfall from Bollywood | | | GST will drive 15-25% increase in EBITDA and improvement in return ratios | | | A good story with improving outlook | |
| Results, Change in Reco |
| InterGlobe Aviation: Yield under pressure |
| | Sharp decline in yield lead to poor performance in 1QFY17 | | | Low profitability of peers will limit the damage to FY2017; expect recovery in FY2018-19E | | | Downgrade to ADD (from BUY) on weak near-term outlook; revise TP to Rs1,020 (from Rs1,200) | |
| IIFL Holdings: NBFC drives earnings |
| | IIFL reports 32% earnings growth | | | Lending business goes strong | | | Revise rating to ADD, roll over target price to Rs310 | |
| Company alerts |
| NTPC: Chalking out a sustainable growth path |
| | Working on project plans to take installed capacity to 128 GW | | | Securing domestic coal to maintain cost leadership, diversifying into more sustainable power | | | Maintain BUY with revised target price of Rs170/share | |
| Sector alerts |
| Automobiles: MHCV industry volumes decline; strong growth in passenger vehicle segment |
| | Strong growth in passenger vehicle industry; Maruti and Hyundai India outperform | | | M&M UV sales grow 20% yoy in July 2016; tractor volumes up 14% yoy | | | MHCV industry volumes decline by 3-5% yoy in July 2016 | | | Two-wheelers: Hero MotoCorp volumes up 9% yoy on low base | |
| Banks: Let the challenge begin |
| | Not much of a change but a few tweaks in the final process | | | On tap licensing takes shape and form | | | To join or not to join? Not an easy decision given the transitory and long term cost | | | A NOFHC structure involves taking a long term decision on business; a challenge | |
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