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Весь мир, Английский
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Telegram
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Фильтр публикаций


CITI on Eicher Motors
Buy, TP Rs 5350

Reported robust vol in December at 79,466 units (+25%YoY; -3%MoM).

A strong December volume print indicates favorable inventory levels post festive season, something that mgmt. had alluded to in 2Q conference call


UBS ON DMART

BUY , TARGET 5500


UBS on Bandhan BK
Neutral, TP cut to Rs 185 from Rs 230

Earnings to remain under pressure
MFI stress to drive higher credit costs & lower NIMs

BK's MFI PAR 1-90 was at 3.3% in Q2; Industry at 5.4% in Nov

Cut EPS by c11% as raise credit costs & reduce NIMs


CITI on PNB
Sell, TP Rs 96

Reported gross advances growth of 15% yoy/4.7% qoq in 3Q vs 13% yoy/3.5% qoq in 2Q & CitiE of 13.8% yoy

Expect RAM segments to be primary growth driver

Mgmt. maintains NIM guidance of 2.9-3% &endeavor to not only sustain but also grow NII


EMKAY ON REC , PFC

REC : BUY , TARGET PRICE 650
PFC ; BUY , TARGET, 600

₹33 lakh crore planned for FY23-32 in Generation, Transmission, and Distribution ensures long-term growth and visibility.

Central Government reforms, reduced risks (PPA/FSA, project gestation), and diversification by PFC/REC boost confidence in asset quality and profitability.
Copied from stockaajorkal telegram channel
P/B ratios (1.5x for REC, 1.14x for PFC) are above historical medians but justified by growth and profitability prospects.

PFC/REC AUM to grow at 13%/18% CAGR in FY24-27E, with 19%/20% ROE, driven by strong credit demand and low credit costs.


HSBC on PI Industries
Hold, TP cut to Rs 3800 from Rs 4000

Difficult times for pyroxasulfone which increases risks for PI’s export growth prospects

Exports already reflecting weakness

PI has entered zone of uncertainty as core biz remain muted while new biz take time to scale up


ADANI PORTS: CO HANDLED 38.4 MMT OF TOTAL CARGO +8% (YOY), DRIVEN BY CONTAINERS +22% (YOY) AND LIQUIDS AND GAS +7% (YOY)


INDIA

India PMI-Manufacturing hits 12-month low in December

Work demand under MGNREGS rises again in Dec

Revival in private capex not seen-RBI survey


STOCKS OUT FROM SHORT TERM ASM LIST 👍

Benara Bearings
CHL Ltd
Cochin Minerals & Rutiles Ltd
Cubical Financial Services Ltd
Dhani Services Ltd
Modi Naturals Ltd
Niyogin Fintech Ltd
Safa Systems
Sita Enterprises Ltd


STOCKS MOVED TO SHORT TERM ASM LIST

BN Rathi Securities
Eco Hotels And Resorts
GMR Power and Urban Infra
Graviss Hospitality
Promax Power Ltd
Prozone Realty Ltd*
Ramasigns
Toss The Coin Ltd


JEFFERIES ON UTILITIES

Aug-Nov 2024 power demand has been weak at 1% YoY decline, and 8MFY24 is just 4.4% YoY rise

Believe this is a temporary blip as electrification drivers of residential demand, data centres and manufacturing are intact

2023 saw concerns emerging on power shortage in India

Peak deficit returning in summer months, accelerating capacity addition and higher merchant prices should be seen in 2025

Top picks: JSW Energy and NTPC

Retain Buy on Power Grid


JEFFERIES ON TRANSPORT AND LOGISTICS

2H2024 was a relatively weak year for logistics stocks

Rail and domestic truck volumes were weaker than expected

Expect volume recovery should be visible on a low base from 1QFY26E

Especially for rail container volumes as the impact of Indian Railways busy season surcharge is fully captured

Dedicated Freight Corridor (DFC) to JNPT by Dec 2025 will boost volumes further

Our top picks are JSW Infra, Concor, and TCI Express






CSL FINANCE

COO RESIGNED


Sybly Industries
Resignation of multiple directors including Managing Director.




Afloat Enterprises board meeting on January 7th will consider a preferential issuance of convertible warrants to raise funds.


DHAMPUR BIO: Mr. Lalit Dalal has been appointed Vice President – Finance & Accounts of the Company w.e.f. January 02, 2025.


CE INFO: Following the allotment of CCPS to certain shareholders by Indrones Solutions Pvt. Ltd. (ISPL), the holding of C.E. Info Systems Ltd. in ISPL has reduced to 19.97%.

As of 30th December 2024, ISPL will no longer be an associate of C.E. Info Systems Ltd.

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