Lok Sabha elections are going to be the most important event for the next 12 months. PL believes the return of a strong majority government can re-rate the markets meaningfully from current levels.
The festive season is here and Prabhudas Lilladher has come out with its top large-cap, mid-cap, small-cap and technical picks for this Diwali. PL believes Hindalco is well placed amongst the metals space as a) Novelis (70% of consolidated EBITDA) is expected to witness gradual improvement in per ton EBITDA to USD 525/t over the next few quarters; b) Novelis has prioritised capex (USD 2.5 billion) on fully integrated 600ktpa Greenfield capacity at USA, which would drive volume growth from FY26E; c) recent fall in thermal coal prices and opening of captive coal mines will benefit India business post-FY26; and d) rising focus on high margin value-added downstream products would drive domestic volume growth from FY26.
ICICI Bank continues to deliver strong earnings driven by a beat on all parameters. Core PPoP performance has been superior to peers as it witnessed a healthy CAGR of 22.5% over FY19-23 driven by margin increase without diluting credit standards.
Likely core RoA/RoE for FY25/26E is 2.0%/17.0% (vs 1.7%/15.3% for HDFCB), said the brokerage. MSIL is well poised for a revenue CAGR of 13% over FY23-FY26E led by stable industry demand, healthy order book, new launches, higher ASPs, and an improving supply chain which provides good visibility of demand for the near to medium term.
Recent model launches by MSIL have positively impacted average selling prices (ASPs), profit margins, and the proportion of high-end models. MSIL holds a strong position in the CNG segment, which is poised for high growth as India focuses on
. Read more on livemint.com