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

 

Special Reports

Initiating Coverage

Crompton Greaves Consumer: Well placed for sustained outperformance

l Light electrical industry has a long runway of growth l Company's moats and double-down focus to help it capitalize on the opportunities better l Key risks: EESL gaining more prominence and heightened competition

Economy

Economy: Indian economy in reboot mode

l Government accounts: One-shot gain or a gradual accrual? l Short-term pains to growth but structural gains to inflation and growth in the long term l Bonds likely to gain on easy liquidity and accommodative stance of RBI

Daily Alerts

Results

BPCL: Weak results

l Results impacted by weak margins and adventitious loss, partially offset by higher other income l Sequential decline in margins across both segments; robust growth in sales volumes l Fine-tune estimates; retain REDUCE and TP

GAIL (India): Good going

l In-line results reflecting improvement in gas transmission and petchem segments l Raise EPS estimates by 7-9%; revise TP to Rs490, including NPV impact of Rs40 from US LNG

Godrej Industries: 2QFY17 - a mixed bag

l Godrej Agrovet (GAVL): GAVL reports a steady quarter l Godrej Consumer (GCPL): Weak 2QFY17 l Godrej Properties (GPL): Collections get stronger - resulting in healthy OCF! l Margins drop in chemicals business on high raw material costs

Coffee Day Enterprises: Core coffee business performance remains weak

l 2QFY17 earnings print - weak operational performance in core coffee business l Cut CDGL EBITDA by 8-11%; revise TP down to Rs250 - ADD stays

Kalpataru Power Transmission: Weak quarter further marred by timing issues

l Standalone - strong backlog bodes well for covering up weakness in execution in 2H l JMC - weakness in 1H may exacerbate; strong margin and customer profile to provide support l SSL - new management team in place; financials remain weak l Marginally revise estimates, retain TP of Rs300

Change in Reco

LIC Housing Finance: Stable asset quality, risk to growth priced in

l Better-placed on asset quality l Pressure on growth in retail housing finance l Valuations attractive, upgrade to BUY (39% upside)

Economy

Economy: RBI set to cut rates in December

l CPI inflation eases on food; core firms marginally l Price pressures likely to ease in 2HFY17 l WPI inflation decelerates sharper than expected l December rate cut a done deal now

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