Maruti Interior Q1 Result
Net profit 0.17Crs Vs 1.67Crs (YOY)
Revenue 14.3Crs Vs 15.7Crs (YOY)
EBITDA 1.57Crs Vs 2.59Crs(YOY)
Net profit 0.17Crs Vs 1.67Crs (YOY)
Revenue 14.3Crs Vs 15.7Crs (YOY)
EBITDA 1.57Crs Vs 2.59Crs(YOY)
CITI ON HINDUSTAN AERONAUTICS
ACCUMULATE | TP ₹6,175
• String of positive developments strengthens the investment case.
• Helicopter opportunity has clearly strengthened.
• HAL is taking steps to address manufacturing-capacity constraints.
• GE F404 engine supplies are expected to improve.
• Citi sees scope for further re-rating.
ACCUMULATE | TP ₹6,175
• String of positive developments strengthens the investment case.
• Helicopter opportunity has clearly strengthened.
• HAL is taking steps to address manufacturing-capacity constraints.
• GE F404 engine supplies are expected to improve.
• Citi sees scope for further re-rating.
HSBC ON INDIGO
ACCUMULATE | TP ₹6,040
• IndiGo stands out on global benchmarks, with further headroom for growth.
• India’s airline industry faces disadvantages from a high tax structure and unfavourable policies.
• Lower labour and infrastructure costs, along with domestic MRO and leasing ecosystem development, could offset some pressures.
• IndiGo compares well with global peers.
• Continued healthy investment could unlock further value.
ACCUMULATE | TP ₹6,040
• IndiGo stands out on global benchmarks, with further headroom for growth.
• India’s airline industry faces disadvantages from a high tax structure and unfavourable policies.
• Lower labour and infrastructure costs, along with domestic MRO and leasing ecosystem development, could offset some pressures.
• IndiGo compares well with global peers.
• Continued healthy investment could unlock further value.
JPMORGAN ON INFOSYS
NEUTRAL | TP ₹1,050
• Demand environment remains broadly unchanged; AI-led inflation is still some time away.
• Large deal wins are normalising, while discretionary spending is gradually returning.
• Demand has remained largely stable since Q1.
• Competitive intensity has increased in vendor-consolidation deals.
• Infosys has maintained steady margins, supported by gains from Project Maximus.
NEUTRAL | TP ₹1,050
• Demand environment remains broadly unchanged; AI-led inflation is still some time away.
• Large deal wins are normalising, while discretionary spending is gradually returning.
• Demand has remained largely stable since Q1.
• Competitive intensity has increased in vendor-consolidation deals.
• Infosys has maintained steady margins, supported by gains from Project Maximus.
JEFFERIES ON FINOLEX CABLES
ACCUMULATE | TP ₹1,510
• Despite a 60% YTD rally, Finolex trades at around 21x 1-year forward P/E, notably below peers.
• Communication segment drove margin improvement and contributed around 23% of Q1 EBIT.
• Finolex plans to double its fibre-draw capacity to 8 million km by Q3.
• At an assumed fibre price of $11/km, the expanded capacity could generate ₹200–250 Cr sales per quarter.
• Electricals remains the core business, while solar and EHV cables are emerging as new growth drivers.
ACCUMULATE | TP ₹1,510
• Despite a 60% YTD rally, Finolex trades at around 21x 1-year forward P/E, notably below peers.
• Communication segment drove margin improvement and contributed around 23% of Q1 EBIT.
• Finolex plans to double its fibre-draw capacity to 8 million km by Q3.
• At an assumed fibre price of $11/km, the expanded capacity could generate ₹200–250 Cr sales per quarter.
• Electricals remains the core business, while solar and EHV cables are emerging as new growth drivers.
PUNJAB NATIONAL BANK:
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CO WORK MAY BE AFFECTED BY UNION STRIKES ON SEPTEMBER 11, 28-30 AND FROM OCTOBER 26
SAUDI ARABIA IS CREATING AN INSURANCE POOL TO COVER MARINE WAR RISKS FOR CARGO.