Blogs

May 24, 2021

Havells a strong play on rising spends on durables and home / office improvement; Second Covid wave to have transient effect

Havell’s, a leading player in Cables, lighting, switches / switchgear and household appliances, is a secular growth story. All its divisions benefits from rising domestic consumption […]
May 18, 2021

Second wave, price increases led by input cost rising may impact near term performance at Voltas but underlying long term fundamentals are good

Voltas is India’s largest air-conditioning company with a sizable projects and engineering products and services business. The long term growth potential of all air-conditioning division is […]
May 18, 2021

Postponement of sales rather than complete loss is a revealing trend for Titan which continues to gain market share

Titan is India’s largest branded jewelry, watches and eyewear company. Rise in disposable income is driving demand and events such as demonetization and GST has improved […]
May 18, 2021

After many quarter of weather / Covid led disappointments, Symphony’s performance was better; but second wave may have a negative impact

Symphony, India’s largest air-cooler company, and a household name, thrives on innovation which has led to market leadership. Return ratios are high as the company follows […]
May 18, 2021

SKF growth rates to improve post Covid as auto and industry demand pick up will drive revenues and profits

SKF India is one of India’s oldest and leading ball bearing and related products company. The brand and technology of the company, provided by its global […]
May 18, 2021

Strong industry leading growth from non DXC (erstwhile owner) clients and mining of new accounts from Blackstone affiliates its present owner should lead to good performance over time

Mphasis is a mid sized software company, majority owned by Blackstone a leading global private equity fund. A sizable share of the revenues (12%) of the […]
May 18, 2021

L&T to be key beneficiary from upcycle in infra spending; uptick in overseas and private domestic order may be margin accretive

L&T, India’s largest engineering and construction company, with several subsidiaries engaged in related (capital equipment) and unrelated businesses such as software and finance. The core infra […]
May 18, 2021

Monopoly position in power exchange with steady volume increases are key attractions at Indian Energy Exchange; main risk factor is regulatory changes

Indian Energy Exchange is India’s largest electricity exchange accounting for 90%+ of the traded volumes. Presence of most distribution companies on the company’s platform is a […]
May 18, 2021

Soft near term performance from Cipla a dampener, but there is strength in products for developed market and revival of sales from South Africa, a large market for the company

Cipla is one of India’s leading pharma company with exposure to the US generics market and South Africa, where it is the third largest player. Over […]
May 18, 2021

Balkrishna is on a very strong wicket with global demand for OTR tyres picking up and backward integration to carbon black paying rich dividends

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 […]