External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Equity Bottom-Up

Container Corporation of India / Equity Bottom-Up

<p>Clarity on LLF payment (and the likelihood of a 35-year lease agreement with the railways) removes a key overhang on the stock. We maintain our FY22E/FY23E EBITDA estimate. We maintain our Buy rating on expected volume and margin benefits from the DFC....</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Clarity on LLF payment (and the likelihood of a 35-year lease agreement with the railways) removes a key overhang on the stock. We maintain our FY22E/FY23E EBITDA estimate. We maintain our Buy rating on expected volume and margin benefits from the DFC....Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DFC commissioning to drive earnings growth

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

<p>TTK Prestige: TTK Prestige's 4QFY21 beat ours as well as street's expectation. Revenue grew by 45% YoY (HSIE 31%), clocking 12% 2-year CAGR. It was broad-based growth as cookers/cookware/appliances posted 49/67/34% YoY growth. Kitchen and home appliances categories have recovered well in 2HFY21 and TTK has capitalised on the spur in demand. It gained 1-1.5% market share in cookers and cookware. However, the big surprise came at gross margin, which expanded by 200/400bps YoY/QoQ to 45.6% (40-quarter high) despite the steep raw material inflation.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

TTK Prestige: TTK Prestige's 4QFY21 beat ours as well as street's expectation. Revenue grew by 45% YoY (HSIE 31%), clocking 12% 2-year CAGR. It was broad-based growth as cookers/cookware/appliances posted 49/67/34% YoY growth. Kitchen and home appliances categories have recovered well in 2HFY21 and TTK has capitalised on the spur in demand. It gained 1-1.5% market share in cookers and cookware. However, the big surprise came at gross margin, which expanded by 200/400bps YoY/QoQ to 45.6% (40-quarter high) despite the steep raw material inflation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Container Corporation, Alkem Labs, Emami, TTK Prestige, Mahanagar Gas

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Chang Chun Eurasia Group Co. / Equity Bottom-Up

Market Insights with Eurasia Group - US-China Phase 1 deal a limited truce rather than peace

India

Container Corporation of India (CONCOR) is an Indian public sector undertaking providing multimodal transport logistics and infrastructure services. The company primarily facilitates the movement of containerized cargo via rail and road, operating a network of inland container depots and container freight stations. CONCOR offers services such as container transportation, warehousing, and air cargo services. Headquartered in New Delhi, India, the company was incorporated in March 1988.

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Container Corporation of India (CCRI IN)

DFC commissioning to drive earnings growth

Clarity on LLF payment (and the likelihood of a 35-year lease agreement with the railways) removes a key overhang on the stock. We maintain our...

Motilal Oswal

HSIE Results Daily: Container Corporation, Alkem Labs, Emami, TTK Prestige, Mahanagar Gas

TTK Prestige: TTK Prestige's 4QFY21 beat ours as well as street's expectation. Revenue grew by 45% YoY (HSIE 31%), clocking 12% 2-year CAGR. It was...

HDFC Securities

Market Insights with Eurasia Group - US-China Phase 1 deal a limited truce rather than peace

The recent conclusion of a US-China “Phase 1” trade deal signals a limited truce that will likely last through the US...

Singapore Exchange Ltd (SGX)

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