July 15, 2020

Decent performance at Bandhan Bank despite pandemic related disruptions Rising retail deposits is noteworthy with healthy CASA ratio

Bandhan Bank is India’s largest micro finance lender. We have an overweight rating due to exceptional track record in growth and recovery. There is great potential […]
July 15, 2020

Better overseas demand, backward integration and lower raw material costs to drive profitability at Balkrishna Industries

Balkrishna Tyres is India’s largest Off-the-Road / Highway tyre company. Revenues are largely from exports (EU + US) where it has a price advantage. The company […]
July 15, 2020

Higher healthcare spending to benefit Sun Pharma. Domestic sales and speciality products to drive sales as regulatory concerns recede

Sun Pharma is India’s largest pharma company. Performance for the past several quarters has been disappointing due to intense pricing pressure in the US generics market […]
July 14, 2020

IFB Industries to return to growth phase post lifting of lockdown as demand for home appliances set to improve in a post covid world

IFB Industries is a home grown white appliances company with dominant position in washing machines. Given low penetration levels for such appliances, the long term prospects […]
July 14, 2020

Emami may emerge stronger post Covid-19 pandemic with increased consumer spends on FMCG brands with health benefits

Emami is a very aggressive FMCG company with products in growth segments of the industry. Post Covid, new launches in the health category will drive revenues […]
July 13, 2020

Massive orderbook at NBCC to now start contributing to revenue and profits

NBCC is a PSU engaged in project management consultancy for the government and PSUs. The company is also into redevelopment of government colonies. In recent times […]
July 13, 2020

PNB Housing trading at attractive valuations. Recovery of loans to realtors key to improve sentiment in stock

PNB Housing Finance is India’s third largest housing finance company. Recent turmoil within the NBFC space has soured sentiment in the stock as also revelation of […]
July 10, 2020

Granules strategy of backward integration, large scale capacities and focus on high volume generics is yielding good results

Granules is a bulk drug and formulation company. It strength lies in economically sized bulk drug manufacturing units which provide a cost advantage to its finished […]
July 9, 2020

Narayana Hrudayala is a secular growth story as healthcare spends will coninue to rise. Pent up demad to drive growth once normalcy returns

Narayana Hrudayalaya is a leading hospital operator. The company has been following an asset light model whereby it acquires operating rights for hospital while the ownership […]
July 9, 2020

Post pandemic – steady performance from Aster DM with new hospitals ramping up well and old ones yielding positive operating leverage

Aster DM operates a chain of hospitals, clinics and pharmacies. Nearly 80 % of its revenues are from Gulf countries (largely UAE) where it has a […]