HSIE Results Daily: UltraTech Cement, Bharat Petroleum Corporation
UltraTech Cement: We maintain ADD on UltraTech (UTCEM) with a revised target price of INR 12,100 (valuing it at 17x Mar-27E consolidated EBITDA)
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Q2FY25 Earnings Preview - Banks, Financial Services and Insurance
Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.
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HSIE Results Daily: Bajaj Auto, Tech Mahindra, TVS Motor, United Spirits
Bajaj Auto: Bajaj Auto’s Q3 PAT at INR20.4bn was ahead of our estimate of INR 19.7bn due to a better-than-expected margin of 20.1% (estimate of 19.5%)
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Banks – Q2FY24 Performance Review
Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment and some pick-up in the corporate segment.
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HSIE Results Daily: Asian Paints, Godrej Consumers, Eicher Motors
Asian Paints: Asian Paints’ top line grew 11.3% YoY (four-year CAGR: 15%), marginally short of expectations (var: -1.6%). The decorative business...
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