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IDBI Capital on PVR
The first quarter result of the PV1 PV1 exercise was at the height of our forecasts regarding EBITDA and EPS. This is mainly attributable to higher growth in advertising revenues and advertising revenues compared to our forecasts and a year-over-year decrease in repair and maintenance costs.
The results of the LIP regarding the granting of F & B on the outside and the news on the risks from the government that interfere with the pricing of food and beverages weigh on the price. evaluation of short-term EVPs. We believe that in case of legal proceedings, the multiplex players are on a solid foundation. However, the opportunity of the result remains uncertain.
As we refine our EBITDA and earnings per share guidance for the EF19 / 20E, given the uncertainty surrounding the issuance of F & B, we are reducing our multiple EV / EBITDA target to 13x FY20E vs 15x before. We maintain BUY with a new target price of Rs1,406
Life insurance products with a high initial commission are not the best choice
A working committee created by the Indian Regulatory Authority and Insurance Development (Irdai) is currently studying the possibility of introducing level commissions throughout the life insurance policies duration. rather than offering high initial commissions to distributors. policies. READ MORE
Hindalco earns 7% as Novelis arm to buy Aleris
Shares of Hindalco Industries rose 7% to Rs 220 per share on BSE in the early morning after the company announced the acquisition of Aleris, world leader in products. rolled aluminum, for a business value of $ 2.58 billion.
The acquisition will be made through the wholly owned subsidiary of Hindalco, Novelis Inc. Aleris has a global presence with manufacturing facilities in Europe, the United States and Asia. READ MORE
Sebi refutes MSCI's claim that India is a "restrictive" market
The Securities and Exchange Board of India (Sebi) refuted the claim of the global provider of MSCI indices that India would be a "restrictive" market for foreign investors. MSCI had, in May, put India on notice to limit access to investors using offshore platforms.
This decision came after national stock exchanges ended licensing and data-sharing agreements with global stock exchanges to end extraterritorial domestic trade. READ MORE
Antique Stock Broking on ITC
Over the next three quarters, we anticipate an acceleration in volume growth on a weak basis, as a continuation of the recovery in the king size segment. In addition, the stationery business should witness a performance improvement driven by a new paper capacity of high achievement from 2QFY19.
We believe that the majority of the pressure on profits due to the sharp rise in cigarette taxes is already in the performance and will have a downward impact to come. This will result in a re-evaluation of the stock relative to current levels. We maintain our earnings forecasts. We re-iterate the purchase recommendation on the stock with a target price of Rs 341 (at 30x PER FY20E)
Edelweiss on ITC Q1FY19 results
Business, EBITDA and PAT growth of 7.6%, 12.2% and 10.1% year-over-year, achieved by ITC in the first quarter of 19, is in line with our estimates. After four quarters, cigarette volumes were encouraging – 1.5% growth in volume versus Street's forecast and 1-2% yoy.
The stock trades at 24.6x EF20E BPA against 48.2x BSE EF20E HUL. This 50% reduction is at the top end and during the good times, it decreased to ~ 20%. However, with an 85% contribution from EBIT to EBIT, dependence on regulated activities remains high. Therefore, we maintain "HOLD / SP" and the ITC value on SOTP on FY20E to arrive at the target price of Rs 328.
Benchmarks are trading at their all-time highs on Friday with the Senbad Senbad BSE Senbad rising more than 300 pts to 37,327 levels. The Nifty 50 index broadly has also increased by more than 11,200 points to reach 11,253.90 levels up to now in intraday transactions.
The ITC, which jumped 5% to Rs 302 on BSE, is in the lead. The ITC Ltd diversified conglomerate posted a 10.07% jump in its net profit to 28.19 billion rupees for the quarter ended June 30, 2018, its total turnover, including other income, establishing at Rs 112.78 billion. [19659003] Among the sector indices, the Nifty PSU Bank index rose more than 1.5%, driven by the rise of the Punjab National Bank and the Oriental Bank of Commerce. The Nifty Metal index is also up more than 1%, led by Hindalco Industries and Tata Steel.
Investors will be pleased with the results of the June Reliance Industries (RIL) market after market hours. The Bank of Baroda, HCL Technologies and Welspun India are among the other big companies that will probably announce their quarterly results for the month of June 2018.
Asian stocks struggled Friday The end Sino-US trade conflict has kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.
OIL PRICES
Oil prices fell slightly on Friday Days of gains, but still supported by Saudi Arabia's stop on the transportation of crude oil by a key seaway, the fall of US stocks and the easing of trade tensions between Washington and Europe.
Brent futures fell 6 cents to 74.48 dollars a barrel, after gaining 0.8% Thursday. US West Texas Intermediate futures also fell 6 cents to $ 69.55 after posting a gain of nearly 0.5% in the previous session.
(with Reuters entries)
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