Blogs

July 30, 2020

Quess Corp a good long term bet as acquisitions start to contribute to bottomline, impact of pandemic to be transient

Quess Corp is India’s largest staffing company with presence a few international locations. Post its listing in 2016 the company has been pursuing inorganic growth options […]
July 30, 2020

Covid Pandemic impact on SIS has been limited. Long growth drivers intact

SIS is India’s largest Security Service provider. Its subsidiary is the largest security provider in Australia. The Indian business also has a facility management vertical where […]
July 28, 2020

Massive provisioning for legacy NPAs impacted profitability at IDFC First Bank. Underlying business momentum is robust, but credit costs can again rise to due covid pandemic

IDFC First Bank, formerly IDFC Bank has changed its name post merger with Capital First. The merger is highly synergistic and provides low cost funding to […]
July 28, 2020

Ultratech Cement’s performance to improve once normalcy improves. Lower input costs to sustain, new acquistions to start contributing meaningfully

Ultratech Cemco is India’s largest cement company. Demerger of cement division of Century and its merger into the company provides an opportunity add value through transition […]
July 28, 2020

Marico poised to improve performance as growth returns to FMCG sector. Excellent track record and margin expansion through lower input costs

Marico is a leading FMCG company with popular brands such as Parachute and Saffola. It has a fabulous track record with a conservative growth approach. Profit […]
July 28, 2020

High slippages and exposure to select stressed accounts has marred sentiment in Indusind Bank. Uncertain credit costs post Covid pandemic a concern area

Indusind is a leading private sector bank with strong presence in vehicle finance and micro- finance post merger with Bharat Financial. Exposure to IL&FS, Dewan Housing, […]
July 28, 2020

RBL Bank credit costs go up even after providing for large corporate account turning bad due to Covid related defaults

RBL Bank is India’s leading private sector bank which has been recently impacted by spike in bad loans to 3 – 4 stressed accounts. Higher provisions […]
July 27, 2020

Zee: Promoter pledge risk factor dissipates, but related party dues and transactions are fresh concerns as also negative cashflows. Long term fundamentals good

Zee is India’s largest listed media company. The covid-19 pandemic has impacted advertising revenues, but subscription income has shot up particularly from its OTT offering – […]
July 27, 2020

Coromandel International, a good long term play on India’s agriculture sector. Good monsoons to drive better performance

Coromandel is India’s largest phosphatic fertilizer company with presence in crop protection and rural retail stores as well. Government regulation, monsoon vagaries and mispricing of fertilizers […]
July 24, 2020

ICICI Lombard may be a secular growth story in the making. Long term trajectory for general insurers is bright

ICICI Lombard is a India’s largest private sector general insurance company. We have a positive view on the insurance industry due to its low penetration and […]