AWS Sees Growth

Amazon Web Services sees growth as more Indian companies go digital Amazon Web Services (AWS) is seeing traction from different sectors this includes enterprises, small and medium businesses (SMBs) and also startups MONEYCONTROL NEWS Amazon Web Services (AWS), the cloud computing arm of e- commerce giant Amazon, is looking at strong growth as various Indian companies take to cloud services in a bid to move digitally to stay relevant in current times. AWS is seeing traction from different sectors this includes enterprises, small and medium businesses (SMBs) and also startups, LiveMint reported. According to Puneet Chandok, President – Commercial Business, Amazon Internet Services, AWS India & South Asia, India, is at an inflection point at present. It is riding on the digital wave which is a big opportunity for AWS, he said. Chandok also noted that since the pandemic began, in the last 8 or 9 months, two different sets of customers had emerged. This includes one category for whom the business has slowed, while the other for whom the business has gone up. "Both categories need the agility of the cloud," he said. A shift in trends suggests that customers are increasingly moving their mission-critical core workloads to the cloud. RBL Bank, for instance, migrated more than 60 mission-critical applications including its retail assets, banking operations, human resources, and customer-facing websites from its on-premises data centre to AWS, the report said. In a bid to address the growing demand for its cloud services, AWS said in November last year that it will launch its second cloud region in Hyderabad that is expected to be operational by mid-2022. “We are growing really fast, across sectors. We are trying to build India’s best technology team and will be hiring across profiles such as account teams, solution architects, professional services, and training," said Chandok. Prabhudas Lilladher's research report on Zee Entertainment Enterprises We initiate coverage on Zee Entertainment Enterprises Ltd (ZEEL) with a BUY rating amid 1) concrete steps taken to strengthen governance and enhance disclosure levels 2) consistent improvement in viewership share (increased from 11.6% in CY11 to 18.4% in CY19) and 3) likely emergence of ZEE5 as future growth engine in the changing global content consumption paradigm. We expect revenue CAGR of 4.1% over FY20-23E backed by increasing viewership share, launch of 4 regional channels (Zee Punjabi, Zee Thirai, Zee Picchar and Zee Bispoke), increasing viewership of HD channels (16 channels, 35% HD penetration) and selective price hikes. Adjusted EBITDA/PAT CAGR is expected to be at 3.5%/0.5% over FY20-23E on higher content cost related to new channels and ZEE5. We believe ZEE5 is one of the strongest content platforms and can be a major growth and re-rating driver in coming years. Outlook Initiate BUY with a TP of Rs290 (16x FY23 EPS of Rs18). Non-core investments, related party transactions, contingent liabilities and accelerated inventory amortization are key risks to our call. For all recommendations report, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. We believe the decision of calling off JV between MM and Ford is positive given very limited scope for new product development along with sourcing related synergies (Click here for our earlier report on MM-Ford JV). In fact, amount saved from not investing (envisaged to be Rs14bn) can now be better utilized in their SUV and EV segment. On the other hand, with SsangYong (SYMC) now under ARS, MM is confident to strike a deal with potential investor by Feb end. We are assertive on MM as management has again reinforced investors that capital allocation remains the key focus (target RoE of >18). On the auto side, MM plans to sharpen focus on its core SUV products and succeed in establishing a strong presence in EV as well. We expect farm and UV segment volumes to grow at ~5% and 9% CAGR over FY21-23E led by new launches. We also built in EBITDA/PAT CAGR of ~9%/12% over FY21-23E. M&M+MVML margins expected to remain elevated at ~14% over FY22-23E as tractor segment contribution remains elevated at ~44% (v/s 37% in FY18-20). Outlook We reiterate BUY with revised SoTP based price target of Rs851 (v/s Rs826, largely led by increase in subs value). For all recommendations report, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. .

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