Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2022-23 on 1 February at 11 am. The annual financial statement by the government presents an overall picture of the financial position of the Government of India, including that of Railways. It also earmarks the allocation of funds for defence.
.... // for upcoming days market may remain volatile //
.... // for upcoming days market may remain volatile //
DELIVERY 📦 🚚 TRADE: BUY LTI CMP 6697 TG 7500 QTY 15
Report
LTI reported strong set of numbers, yet againá ahead of expectations. CC qoq growth of +9.2% qoq, on a base of +8.9% qoq last quarterá a phenomenal performanceá beating expectations handsomely. Growth was broad based across verticals and the demand environment remains super strong. LTI is now likely to report +25% yoy growth in FY22 (after 8.8% CC yoy growth in FY21)á a remarkable performance. Margins expanded by 70bps qoqá slightly better than expectationsá still under pressure from supply side issuesá which the management expects to last for 34 more quarters. Overall commentary remained highly positive, with management even alluding to hiring more, if there was supply. We continue to like the LTI story, and maintain it as one of best managed company in the IT midcap space. The stock has had a phenomenal run in CY21 (+190%) but has recently corrected sharply (CYTD, 11%). As a result, the stock is now trading at 36x FY24PE. This offers an excellent opportunity to buy a quality stock at attractive valuations.
Report
LTI reported strong set of numbers, yet againá ahead of expectations. CC qoq growth of +9.2% qoq, on a base of +8.9% qoq last quarterá a phenomenal performanceá beating expectations handsomely. Growth was broad based across verticals and the demand environment remains super strong. LTI is now likely to report +25% yoy growth in FY22 (after 8.8% CC yoy growth in FY21)á a remarkable performance. Margins expanded by 70bps qoqá slightly better than expectationsá still under pressure from supply side issuesá which the management expects to last for 34 more quarters. Overall commentary remained highly positive, with management even alluding to hiring more, if there was supply. We continue to like the LTI story, and maintain it as one of best managed company in the IT midcap space. The stock has had a phenomenal run in CY21 (+190%) but has recently corrected sharply (CYTD, 11%). As a result, the stock is now trading at 36x FY24PE. This offers an excellent opportunity to buy a quality stock at attractive valuations.
DELIVERY 📦 🚚 TRADE: BUY ICICIGI CMP 1350 TG 1550 QTY 70
Report
IICICIGIs (merged entity) 3Q22 PAT of Rs 3.1bn declined 29% qoq (+1% yoy) as combined ratio remained elevated at 104.5% (2Q22: 105%; 3Q21: 100.1%), driven by higher loss ratio of 69.6% (3Q21: 66.0%) and expense ratio of 29.4% (3Q21: 27.3%). We expect combined ratio to continue to remain high in near term on account of a) higher claim ratio from motor OD segment on higher claim frequency b) higher expense ratio in Bharti AXA GI portfolio (till synergy benefits is achieved) and b) health claims on account of third covid wave (although lower than last wave). Further Chip shortage and lower demand in two wheelers will continue to impact growth of motor segment. Health segment is likely to report better growth going forward largely due to base effect. We maintain Neutral rating on the stock with a revised price target of Rs 1550.
Report
IICICIGIs (merged entity) 3Q22 PAT of Rs 3.1bn declined 29% qoq (+1% yoy) as combined ratio remained elevated at 104.5% (2Q22: 105%; 3Q21: 100.1%), driven by higher loss ratio of 69.6% (3Q21: 66.0%) and expense ratio of 29.4% (3Q21: 27.3%). We expect combined ratio to continue to remain high in near term on account of a) higher claim ratio from motor OD segment on higher claim frequency b) higher expense ratio in Bharti AXA GI portfolio (till synergy benefits is achieved) and b) health claims on account of third covid wave (although lower than last wave). Further Chip shortage and lower demand in two wheelers will continue to impact growth of motor segment. Health segment is likely to report better growth going forward largely due to base effect. We maintain Neutral rating on the stock with a revised price target of Rs 1550.
DELTACHARTS CAPITAL
DELIVERY TRADE: BUY POWERGRID AT 207 TGT 219
217 Target 🎯 Done ✅
Investors Can Book Full Profit At Your Own Comfort.
4500 Profit Booked💴🚀💴🚀💴🚀💴🚀💴🚀💴🚀💴💴🚀💴🚀💴🚀💴🚀💴🚀
Stay Home 🏡 Stay Safe…!
Investors Can Book Full Profit At Your Own Comfort.
4500 Profit Booked💴🚀💴🚀💴🚀💴🚀💴🚀💴🚀💴💴🚀💴🚀💴🚀💴🚀💴🚀
Stay Home 🏡 Stay Safe…!