Century Plyboards India (Q1FY24Z: Weak Performance in a Subdued Demand Environment.
We maintain our BUY rating on Century Ply, with a lower target price of INR 700/sh (20x its Mar’25E consolidated EBITDA, implies 34x P/E)
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Building Materials - Another Quarter of Mixed Trends
In Q1FY24, our coverage universe’s revenue/EBITDA/APAT are expected to grow by 6/19/18% YoY respectively. We estimate tile majors to report healthy...
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Building Materials: Imports pick up, exports decline
In April 2023, tiles export continues to be strong, up 35% YoY to >INR 16bn. After a strong Mar-23, laminates export volume/value declined 11/9%...
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Building Materials - EXIM Trades Firm Up
Tiles exports soared to an all-time high of INR 17.6bn in Mar-23Owing to weak H1FY23 (muted demand environment), overall tiles volume grew by 3%...
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HSIE Results Daily: Indian Oil Corporation, CreditAccess Grameen
Our ADD rating on Indian Oil Corporation (IOCL), with a target price of INR 95, is premised on robust refining and marketing margins
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