INSUBCONTINENT EXCLUSIVE:
Good morning!
The domestic stock market on Monday showed early signs of a possible breakout from its consolidation range
Science (CFSL) with a target price of Rs 140
The brokerage expects CFSL to deliver rapid value growth led by Dahej plant commissioning, ramp-up in blends business, improvement in
Chinese vanillin plant utilization and continued growth momentum in performance chemicals
Due to the weak operational performance in the recent past, CFSL trades at deep discounts of 4 times FY21 EV/EBITDA and 7 times FY21 PE
with a target price of Rs 137 citing lower than expected September quarter results
Crude oil prices are expected to recover to some extent in the second half of the year; however, natural gas sales will remain subdued owing
The government is in deliberations over lifting price restrictions on locally produced natural gas, which may take time and hence the
MRPL with a target price of Rs 49 citing subdued global oil demand, incremental capacity addition and suppressed GRM
The brokerage expects the refining margins to remain weak while the dependence on the Nethravathi River until the desalination plant comes
price of Rs 1,740 citing tariff hike would upgrade the Jio earnings
Overall increase in tariff on a pre-IUC/post-IUC basis is 12-34 per cent/8-33 per cent, with the quantum being slightly lower than expected
but still positive, said the brokerage
Our constructive stance on ICICI Bank has been mostly premised on the reduction in stress pools, consequently lower provisions and
(therefore) earnings expansion
The visible risk-consciousness in corporate lending reconfirms our stance on asset quality
The action on digital and retail fronts sets bank up for strong, granular and efficient growth which would merit a hike in valuation
multiple from 2.0 to 2.2x
Shares of ICICI Bank declined half a percent to Rs 525 on Friday.