Market Masala… the Flavors That Influenced the Market This Week

Total Page:16

File Type:pdf, Size:1020Kb

Market Masala… the Flavors That Influenced the Market This Week Go India Advisors Weekly Newsletter Market Masala… The flavors that influenced the market this week Week 16/CY20: 11th -17th April 1 Headlines this week Reopening economies, positive new drug trials, more stimulus Go India Advisors Newsletter All hardest hit countries plan reopening of economies, USA, Germany, and most EU countries, have taken steps to partially open the economies. India has also announced partial relaxation of lockdown from 20th April. While social distancing norms and lockdown of hotspots will continue in distant future, but market is seeing light at the end of the tunnel. Gilead’s experimental anti-viral drug remdesivir in initial trails yield positive results. It is reported that the drug was given to high risk, critical Covid 19 patients and most recovered with 4-5days. While it is early days, but market seems to be clinging to every sign of optimism. Our own Dr Reddy is already seems to be working on generic version of “remdesivir”. World is moving fast here. Countries hit with Covid 19 have lined up fiscal (amounting to between 1-20% of GDP) and monetary stimulus (whatever it takes) to support the economy. RBI on Friday announced round 2.0 of monetary stimulus and reiterated it's whatever it takes stance buoying the market. Market is keenly expecting 2nd round of fiscal stimulus in India, the number doing the rounds in excess 5% of GDP. 18-04-2020 2 And GlobalMarkets pull out of bear market Returns % Name One Week One Month One Year YTD (11/04/2020-17/04/2020) (18/03/2020-17/04/2020) (18/04/2019-17/04/2020) (01/01/2020- 17/04/2020) Hang Seng 0.33 12.30 -18.63 -13.51 Dow 30 2.21 20.69 -8.72 -15.05 NASDAQ 6.09 20.97 8.15 -3.59 S&P 500 3.04 19.31 -1.05 -11.03 KOSPI 2.89 31.34 -13.61 -12.88 FTSE 100 -0.95 12.33 -22.43 -23.27 Nikkei 225 2.05 20.20 -10.37 -15.89 Nifty 50 1.70 12.14 -21.15 -23.85 S&P BSE SENSEX 1.38 11.67 -19.29 -23.43 18-04-2020 3 Revival of Infra – key theme this week th Indian Markets for Week Ending 17 April 2020 Go India Advisors Newsletter 18-04-2020 For more information: Click on the image. 4 V – shaped economic recovery expected Go India Advisors Newsletter • As opposed to say the financial crisis of 2009, the current downturn wasn’t caused by something fundamentally wrong with the financial system or the overall economy, but by the measures necessary to contain a public health crisis. • The IMF revised its GDP growth forecast for the global economy from 3.3 percent to -3.0 percent for this year but expects a return to growth in 2021. That’s assuming “that the pandemic fades in the second half of 2020 and containment efforts can be gradually unwound.” • However, “the risks for even more severe outcomes are substantial,” the IMF notes. “Effective policies are essential to forestall the possibility of worse outcomes, and the necessary measures to reduce contagion and protect lives are an important investment in long-term human and economic health.” • What’s arguably the biggest question in terms of long-term economic effects of the ongoing pandemic is how well debt- ridden countries such as Italy, Spain and the United States for that matter can stomach the hundreds of billions in additional debt necessary to safeguard acutely affected sectors and people during the lockdown period. 18-04-2020 5 Macros this week Go India Advisors Market looking for signs beyond GDP downgrades Newsletter o "China's auto component demand back to pre- Covid19 levels." said Mr Laksh Vaaman Sehgal, Vice Chairman, Motherson Group. This corroborates the earlier news about sharp jump in car sales in Wuhan, the epicentre of Coronavirus. Clearly a shift towards personal vehicles is starting to happen. o It's not just car, China is seeing spurt in demand for cosmetics, apparel, outdoor gear, and domestic travel apart from daily essentials. o Hermes post re-opening it's flagship store in Gaungzhou saw a record breaking single day sale of US$2.6mn. 18-04-2020 6 Voices that matter Getting a bit more confident Go India Advisors Newsletter “Markets past the point of “We could have seen the bottom….” “To soon to call an all clear maximum panic”.. If the disease curve in the developed world for markets….” We will start to see impact on continues to decline [and] at the same time To us there does not appear to corporate earnings; there is still we see the curve from governmental support be a gilded cornucopia of some blue to come...We are yet for monetary policy and fiscal policy shining bargains. hit peak pessimism. worldwide increases, we could have seen the bottom. Keith Skeoch, CEO Larry Fink, Co founder and Paul Singer, Co founder & Standard Life Aberdeen Chief – Blackrock C0-CEO: Elliott Mgmt 18-04-2020 7 What Market Said after RBI Stimulus 2.0 Go India Advisors Newsletter The market should consider this RBI has provided supplementary favorably at this will ease liquidity measures to address financial and credit classifications market liquidity, NPA recognition and issues: Rajosik Banerjee, Partner operational concerns and Head - Financial Risk Sahil Kapoor – Chief Market Management, KPMG in India Strategist, Edelweiss Broking NBFCs are clear beneficiaries of Of course this provides much these measures. For investors in needed liquidity and positive Banks the provision of higher message for NBFC especially liquidity and relaxation in and a much elaborated provisioning norms are welcome stimulus package is awaited Dhiraj Relli - MD & CEO, HDFC Abhishek Goenka- Founder & Securities CEO, IFA Global Tech Check – Pullback has steam left Go India Advisors Newsletter NIFTY 50 1. Short covering led pullback has gathered pace. 9600-10000 levels possible. 2. Risk on trade is on driven by ample liquidity globally. 3. Investors trying to overlook the near term economic impact as they expect "V" shaped recovery. 4. However world has changed, and recovery seems to be happening too soon. 18-04-2020 9 FIIs sell off– abating Go India Advisors FII Flows in Indian Equities over the Years (INR Cr) Newsletter 1,33,047 1,29,319 1,12,538 97,054 1,00,150 52,615 18,356 18,783 (3,417) (34,163) (49,866) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Note : all above years are CY and not FY Weekly FII Flows in Indian Equities in CY20 (INR Cr) 13,147 8,164 5,119 4,985 512 2,307 (162) (2,744) (6,152) (5,388) (9,137) (9,675) (13,112) (19,039) (21,442) Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 Week 14 This Week Note : Week 1 starts from January 6th , 2020 18-04-2020 10 FIIs sell off – same trend in Debt Markets Go India Advisors FII Flows in Indian Debt Market over the Years (INR Cr) Newsletter 1,59,882 1,47,825 46,478 40,770 46,921 36,164 24,058 (51,171) (44,297) (46,525) (79,317) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Note : all above years are CY and not FY Weekly FII Flows in Indian Debt Market in CY20 (INR Cr) 8,035 6,059 919 (904) (1,764) (1,392) (4,090) (4,490) (4,483) (5,904) (5,845) (4,498) (9,669) (16,498) (32,143) Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 Week 14 This Week Note : Week 1 starts from January 6th , 2020 18-04-2020 11 Others 12 Sovereign Utilities Go India Advisors India Go Newsletter Transportation Textiles, Apparels & Accessories Telecommunications Equipment Telecom Services Software & Services Retailing Realty Real Estate Investment Pharmaceuticals & Biotechnology Oil & Gas Metals & Mining Media Insurance Household & Personal Products Net Investment (March 16-31) Hotels, Restaurants & Tourism Healthcare Services Healthcare Equipment & Supplies Hardware Technology &… General Industrials Forest Materials Food, Beverages & Tobacco Net Investment (March 01-15) Food & Drugs Retailing Diversified Consumer Services Diversified Consumer Durables Construction Materials Commercial Services & Supplies wise FPI / FII Investment wise FPIMarch in FII INR Cr) / ( Investment - Coal Chemicals & Petrochemicals Capital Goods 2020 Total Financial Services - 04 - Automobiles & Auto Components 18 Every Insurance sector sold except FIIs equity sell off March'20 in 0 Fortnightly Sector -5,000 -20,000 -15,000 -10,000 FIIs – sold through FY20 (except new IPOs) Go India Advisors Newsletter Sector-wise FPI / FII Investment in FY20 ( INR Cr) 27,514 6,627 3,037 3,605 1,900 320 1,504 1,293 23 1,607 -221 -44 -2,325 -1,396 -2,503 -950 -1,558 -4,093 -4,748 -4,017 -5,050 -7,730 -9,770 -11,162 -14,055 -21,238 Metals & Mining Metals Automobiles & Auto TotalFinancialServices Capital Goods Chemicals Petrochemicals & Coal Commercial Services Supplies & Construction Materials Consumer Durables Food, Beverages & Tobacco Healthcare Equipment & Healthcare Services Hotels, Restaurants Tourism & HouseholdPersonal &Products Insurance Media Oil & Gas Pharmaceuticals & Realty Retailing Software & Services Telecom Services Telecommunications Equipment Textiles, Apparels & Accessories Transportation Utilities Biotechnology Components Supplies 18-04-2020 13 DIIs continue to be positive Go India Advisors DII Net Flows in Equities (INR Cr) Newsletter 1,09,646 90,835 65,872 72,414 37,125 42,229 27,814 (21,354) (30,329) (56,263) (73,833) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Note : all above years are CY and not FY.
Recommended publications
  • Petronet LNG (PETLNG)
    Petronet LNG (PETLNG) CMP: | 242 Target: | 275 (14%) Target Period: 12 months HOLD February 14, 2021 Sales volume dips; margins drive profitability... Particulars Ss Petronet LNG reported a mixed set of Q3FY21 numbers. While sales volume Particu lar Am o u n t was below estimates, blended margins were ahead of expectations. Total Market Capitaliz ation (₹ Crore) 36,315.0 volumes were flattish YoY and down 7.5% QoQ to 235 tbtu due to lower Total Debt (FY 20) (₹ Crore) 3,440.2 regas volumes. Revenues were down 17.8% YoY to | 7328.2 crore (I-direct Cash and Investments (FY 20) ( ₹ Crore) 4,432.0 estimate: | 7591 crore). EBITDA was | 1335.3 crore, up 20.6% YoY, down EV (₹ Crore) 35,323.2 2% QoQ (our estimate: | 1215.4 crore). Blended margins were at 52 week H/L 285/171 ₹ | 63.2/mmbtu on account of inventory gains and higher margin on spot Equity capital ( Crore) 1,500.0 Face value (₹) 1 0.0 volumes (our estimate: | 54.8/mmbtu). PAT increased 30.1% YoY to | 878.5 s ss crore (our estimate: | 761.7 crore). On a QoQ basis, it dipped 5.3%. Update Result Key Highlights Higher spot LNG prices lead to dip in regas volumes QoQ Results were a mixed bag as Petronet LNG’s total volumes were below our estimates on account of lower blended margins were ahead of regasification volumes from Dahej terminal. Total sales volumes came in at estimates while regas volume 235 tbtu, compared to 233 tbtu in Q3FY20 (up 0.9% YoY) and 254 tbtu in were lower than expected Q2FY21 (down 7.5% QoQ).
    [Show full text]
  • Gas Pipeline Network to Delhi
    Indraprastha Gas Limited Corporate Presentation January 2005 CNG for Clean & Green Environment Agenda • Overview of Indian Oil & Gas sector • Overview of Gas sector • CNG and PNG business in India • Indraprastha Gas • Critical Success Factors • Opportunity • Growth Strategy • Financial Overview • Risks CNG for Clean & Green Environment Overview of Indian Oil & Gas sector CNG for Clean & Green Environment Structure of the sector • Aggregate consumption of petroleum products107 MMTPA, Gas demand is 120 mmscmd, supply of 80 mmscmd. • Sector dominated by Public Sector Undertakings: ONGC, IOCL, GAIL, HPCL & BPCL. • Reliance Industries (RIL) a formidable private sector player. • Cairn Energy, British Gas, NIKO, Hardy, UNACOL & SHELL have domestic presence & plan to increase investments. • Government walks on a tight rope while maintaining balance between economics & politics in the sector. • Present Government Committed to sectoral reforms. CNG for Clean & Green Environment Gas sector Demand Supply Scenario* • Demand (120 mmscmd) outstrips the supply (80 mmscmd) mmscmd FY04 Demand 120 Supply 80 Gap 40 • ONGC and OIL combined produce 90% of gas. Natural Gas User Profile* Spong Othe rs • Gas from APM fields subsidized to the Iron 13% extent of 50% of the price, Non-APM 4% gas sold at market rate. Pow er 42% Shrinkage 9% Fertilizer 32% *Source: Industry CNG for Clean & Green Environment Sector in phase of “Market Development” characterized by: • Strong Volume growth •Gradual buildup in competition. CNG for Clean & Green Environment Gas availability
    [Show full text]
  • Index Outlook June 2021
    Index Outlook JUNE 2021 June 28, 2021 Nifty Sectoral Weights* Weight Weight Change Earnings stage smart upgrade, further upside seen… Sectors (Nov 2020) (Jun 2021) (bps) Indian markets have shown resilience in the recent past and scaled new BFSI 37.8% 37.4% -42 highs amid encouraging corporate earnings in Q4FY21 led by the upswing IT 16.4% 16.3% -9 in key commodities prices and strong underlying demand prospects. GST Oil and Gas 14.1% 12.6% -153 collection at ~| 1.02 lakh crore for May 2021 (eighth consecutive month of FMCG 8.5% 8.2% -34 >| 1 lakh figure) is testimony to robust domestic macroeconomics. Going Capital Goods 2.3% 2.7% 37 forward, with peak of the Covid resurgence behind us, increasing pace of Auto 5.3% 5.3% 1 vaccination domestically and calibrated state specific unlocking under way, Metals and Mining 2.3% 3.5% 117 we expect economic activity to bounce back sharply in 9MFY22E. Our view Power 1.7% 1.6% -8 is further reinforced by the step up capex by the government, which will Telecom 2.1% 1.9% -21 Report Special create multiplier effect on the economy. We expect the present broad-based Pharma 3.5% 3.5% -1 up move in markets to continue, with small cap and midcaps leading the Others 5.9% 7.1% 123 gains. We continue to like IT & pharma space as structural plays in the market. Total 100% 100% Exhibit 1: Nifty and Sensex targets *Index weights are dynamic in nature Revised Sensex & Nifty Target resultant to market price movement & Earnings Estimates FY19 FY20 FY21 FY22E FY23E susceptible to change going forward Nifty EPS (₹/share)
    [Show full text]
  • Nominee List
    NOMINEE LIST Best financial reporting (large cap) Cipla Hindalco Industries Hindustan Unilever Infosys Kotak Mahindra Bank Mahindra & Mahindra Piramal Enterprises Tata Steel Vedanta Best financial reporting (small to mid-cap) CEAT Everest Industries Hikal Hindustan Foods IIFL Holdings KEC International Minda Industries Raymond The Phoenix Mills Zensar Technologies Best investor meetings (large cap) Bharti Airtel Hindustan Unilever Infosys Lupin Mahindra & Mahindra Piramal Enterprises Best investor meetings (mid-cap) Balkrishna Industries IIFL Holdings Mindtree RPG Group Sterlite Technologies The Phoenix Mills NOMINEE LIST Best investor meetings (small cap) Amber Enterprises India Equitas Holdings Greenlam Industries Music Broadcast Navin Fluorine International NOCIL Raymond Zensar Technologies Best investor relations officer (large cap) Bharti Airtel Komal Sharan Bharti Airtel Aparna Vyas Garg Bharti Infratel Surabhi Chandna Cipla Naveen Bansal HDFC Conrad D'Souza Hindustan Unilever Suman Hegde Infosys Sandeep Mahindroo Kotak Mahindra Bank Nimesh Kampani Lupin Arvind Bothra Best investor relations officer (small to mid-cap) CEAT Pulkit Bhandari Jindal Steel & Power Nishant Baranwal Motilal Oswal Financial Services Rakesh Shinde PNB Housing Finance Deepika Gupta Padhi Raymond J Mukund RPG Group Pulkit Bhandari Schneider Electric Infrastructure Vineet Jain The Phoenix Mills Varun Parwal NOMINEE LIST Best investor relations team (large cap) Bharti Airtel Cipla Hindustan Unilever Infosys Kotak Mahindra Bank Larsen & Toubro Infotech Power
    [Show full text]
  • Factsheetmarch11
    March 2011 EQUITY OUTLOOK The Indian benchmark indices ended FII Equity Flows: Turn Buyers for First Time in 2011 March on a positive note after being 7,000 Cash (US$m) 6,373 6,000 Futures (US$m) 5,580 down ~13% between January and 5,000 3,777 4,159 February 2011. The benchmark gained 4,000 3,000 2,405 Gaurav Kapur 2,220 1,556 2,100 1,740 SENIOR MANAGER - EQUITY about 5.6% during March 2011, 2,000 1,358 1,299 1,000 406 329 making it the second best performing 231 0 -1,000 -529 -363 market in the world for the month. The CNX midcap index also was -737 -993 -826 -2,000 -1,016 -1,257 -1,989 -1,387 up 5.8% over the same period. FIIs were net buyers of ~US$1.5 bn -3,000 -4,000 -3,417 during March, however, they are still net sellers worth around 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 - - - - - - - - - - - - r l t r b n y v c n g p a c u p e a a o e US$650 mn year-to-date. u u e J J M F O A J N D A S M Source: Morgan Stanley Research Asia was the best performing Emerging Markets region in March, rising by 7.1%, while Emerging Markets Ex Asia (+4.7%), despite underperforming, remained resilient in the face of the ongoing political turmoil in the neighboring Middle East North Africa (MENA) region and the rumbling sovereign debt crisis in Europe.
    [Show full text]
  • First Light 11May-Research
    FIRST LIGHT 11 May 2021 Click or tap here to e nter text. RESEARCH TOP PICKS [#3 Meeting of Minds] Automobiles LARGE-CAP IDEAS Gearing up for EV battery technology Company Rating Target DCB Bank | Target: Rs 100 | +10% | ADD Cipla Buy 1,000 Recoveries to improve gradually – upgrade to ADD TCS Buy 3,780 BOB Economics Research | Weekly Wrap Tech Mahindra Buy 1,190 Local restrictions impact economic activity MID-CAP IDEAS Company Rating Target SUMMARY Alkem Labs Buy 3,750 Greenply Industries Buy 195 Automobiles Laurus Labs Buy 540 We hosted Stefan Louis, CEO of Nexcharge – a technology-based JV between Transport Corp Buy 320 Exide Industries and Leclanché of Switzerland – catering to lithium-ion tech in Source: BOBCAPS Research India. The company is eyeing business in the domestic 2W, 3W, bus and telecom segments. Per Stefan, the complex nature of battery technology would warrant DAILY MACRO INDICATORS 2D 1M 12M JVs between auto OEMs and battery manufacturers. He expects the Indian Indicator Current (%) (%) (%) lithium-ion battery industry to grow to Rs 40bn-50bn in four years and US 10Y 1.58 1bps (8bps) 94bps Nexcharge to capture 25% of the market with double-digit margins once local yield (%) India 10Y 6.02 4bps (11bps) (1bps) manufacturing begins. yield (%) USD/INR 73.51 0.3 (0.1) 3.0 Click here for the full report. Brent Crude 68.28 0.3 8.8 131.8 (US$/bbl) Dow 34,778 0.7 4.0 45.7 DCB Bank Shanghai 3,419 (0.7) (1.8) 19.1 DCB Bank’s (DCBB) Q4FY21 PAT of Rs 0.8bn (+13% YoY) beat our estimate Sensex 49,206 0.5 0.0 56.5 India FII 6 May MTD CYTD FYTD on below-expected provisions.
    [Show full text]
  • GUJARAT STATE PETRONET a I D Nominal COVID-19 Downturn; Quick Revival
    s p COMPANY UPDATE a c d i M GUJARAT STATE PETRONET a i d Nominal COVID-19 downturn; quick revival n I India Equity Research| Oil, Gas and Services Gujarat State Petronet (GSPL) is a pure gas pipeline utility, which is EDELWEISS RATINGS relatively less affected by the ongoing COVID-19 downturn. In fact, it is Absolute Rating BUY poised to resume a sustainable 4-5% long-term volume CAGR. It not only Investment Characteristics Growth enjoys a healthy balance sheet, enabling it to weather the current stress, but also robust INR50bn FCF over FY21-23E will help it turn debt free. The stock has fallen ~25% since February on concerns that its largest customer MARKET DATA (R: GSPT.BO, B: GUJS IN) Reliance Industries (RIL) will sharply cut volumes following start-up of its CMP : INR 186 own petcoke gasifier. RIL continues to source 9-10mmscmd of gas despite Target Price : INR 278 full commissioning of its plant during March 2020. Besides, COVID-19- 52-week range (INR) : 264 / 146 related volume hit is also currently limited to 13%, with an ongoing quick Share in issue (mn) : 564.1 recovery. Maintain ‘BUY’ with revised DCF-based TP of INR278 (INR290 M cap (INR bn/USD mn) : 103 / 1,525 earlier) due to cut in volume demand forecast. Avg. Daily Vol. BSE/NSE (‘000) : 584.1 Corona-related volume dip nominal; quick revival underway SHARE HOLDING PATTERN (%) We expect GSPL to report a nominal 3% QoQ volume dip during Q4FY20 and a further Current Q3FY20 Q2FY20 10% dip to 32mmscmd during Q1FY21, followed by a steady revival to normal level.
    [Show full text]
  • Shaping the Future of Energy
    Shaping the Future of Energy GREEN. SMART. AFFORDABLE 20th Annual Report 2018- 19 CONTENTS 02 82 Chairman’s Message Balance Sheet 04 83 Vision Financial Highlights Statement of Profit and Loss India’s leading clean energy solution provider through 05 84 Board of Directors Statement of Changes in Equity customer centricity, innovative technology and diversification, 06 85 with international presence. Directors’ Report Cash Flow Statement 46 87 Report on Corporate Governance Summary of Significant Accounting Policies and other Explanatory 59 Information Management Discussion and Analysis 128 Comments of C&AG – Supplementary 62 Mission Audit Business Responsibility Report Committed to provide 72 129 safe, reliable and clean Independent Auditor’s Report Consolidated Financial Statements energy solutions to improve quality of life and enhance stakeholders’ value. Forward looking statement Some information in this report may contain forward-looking statements. We have based these forward looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forwardlooking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words. A forward-looking statement may include a statement of the assumptions or basis underlying the forward-looking statement. We have chosen these assumptions or basis in good faith, and we believe that they are reasonable in all material respects. However, we caution you that forward looking statements and assumed facts or bases almost always vary from actual results, and the differences between the results implied by the forwardlooking statements and assumed facts or bases and actual To view the report online log on to results can be material, depending on the circumstances.
    [Show full text]
  • Consumer Goods Recovery in Discretionary and Urban Sales Led to Better Q3 Sector Update
    Consumer Goods Recovery in discretionary and urban sales led to better Q3 Sector Update Consumer goods companies’ Q3 performance was driven by sales recovery of Q3FY2021 Results Review discretionary categories (such as value-added hair oil and personal care products), sustained higher demand for healthcare and hygiene products, better traction to Sector: Consumer Goods new launches, and higher demand in rural markets coupled with improving demand in urban markets. General trade continues to grow strongly, e-commerce mix to Sector View: Positive overall revenue is improving due to higher sales and modern trade channel has witnessed sequential improvement due to recovery in urban sales. Most consumer goods companies under our coverage registered organic revenue growth of 6%-16%, driven by domestic volume growth of 7%-18% in Q3. Paint companies, including Asian Paints, registered strong volume growth of 30%, led by sustained high demand in tier III/IV towns and improving demand in metros and top cities due to receding scare of virus and improving construction and real estate activities. Overall, Sharekhan’s consumer goods universe registered revenue growth of ~14% in Q3FY2021, better than 9.1% growth achieved in Q2FY2021. Significant increase Our coverage universe in prices of palm oil, copra, other edible oils, and raw tea/coffee resulted in gross Companies CMP Reco. PT margin decline for companies such as HUL, Godrej Consumer Products (GCPL), (Rs) (Rs) Marico, and Tata Consumer Products (TCPL). However, lower ad spends and cost- Asian Paints 2,389 Buy 3,000 saving initiatives arrested the sharp decline of 80-100 bps in operating profit margins (OPM) for some companies.
    [Show full text]
  • Press Release Gujarat Gas Limited
    Press Release Gujarat Gas Limited October 07, 2019 Ratings Amount Facilities Ratings1 Rating Action (Rs. Crore) CARE AA; Positive/ CARE A1+ Long Term / Short Term 2,000.00 (Double A; Outlook: Positive/ Reaffirmed Bank Facilities A One Plus) 2,000.00 Total Bank Facilities (Rupees Two Thousand Crore Only) Details of facilities in Annexure-1 Detailed Rationale & Key Rating Drivers The ratings for the bank facilities of Gujarat Gas Ltd. (GGL) continue to derive strength from its leading position in the city gas distribution (CGD) business in India, well-established and significantly large scale of operations, established gas sourcing arrangements, moderately diversified customer segment mix, comfortable debt coverage indicators, healthy cash accruals along with strong liquidity and efficient working capital management. The ratings further continue to derive strength from its professional and experienced management and favorable industry outlook for the CGD business. GGL’s long-term rating, however, continues to remain constrained on account of its medium sized capex plans for developing CGD network in various geographical areas (GAs; including in 7 new ones) towards its growth plans, moderate leverage, susceptibility of demand for natural gas from its industrial customers based on price dynamics of competing fuels with its concomitant impact on its profitability and regulatory risk associated with CGD business. GGL’s ability to ensure sustained growth in demand from its industrial segment customers along with sustained improvement in operating profitability and its capital structure, timely execution of projects especially in the new GAs within envisaged cost and time parameters and generating envisaged returns therefrom; along with conduciveness of regulatory environment for CGD sector would be the key rating sensitivities.
    [Show full text]
  • Merchants Where Online Debit Card Transactions Can Be Done Using ATM/Debit Card PIN Amazon IRCTC Makemytrip Vodafone Airtel Tata
    Merchants where online Debit Card Transactions can be done using ATM/Debit Card PIN Amazon IRCTC Makemytrip Vodafone Airtel Tata Sky Bookmyshow Flipkart Snapdeal icicipruterm Odisha tax Vodafone Bharat Sanchar Nigam Air India Aircel Akbar online Cleartrip Cox and Kings Ezeego one Flipkart Idea cellular MSEDC Ltd M T N L Reliance Tata Docomo Spicejet Airlines Indigo Airlines Adler Tours And Safaris P twentyfourBySevenBooking Abercrombie n Kent India Adani Gas Ltd Aegon Religare Life Insur Apollo General Insurance Aviva Life Insurance Axis Mutual Fund Bajaj Allianz General Ins Bajaj Allianz Life Insura mobik wik Bangalore electricity sup Bharti axa general insura Bharti axa life insurance Bharti axa mutual fund Big tv realiance Croma Birla sunlife mutual fund BNP paribas mutural fund BSES rajdhani power ltd BSES yamuna power ltd Bharat matrimoni Freecharge Hathway private ltd Relinace Citrus payment services l Sistema shyam teleservice Uninor ltd Virgin mobile Chennai metro GSRTC Club mahindra holidays Jet Airways Reliance Mutual Fund India Transact Canara HSBC OBC Life Insu CIGNA TTK Health Insuranc DLF Pramerica Life Insura Edelweiss Tokio Life Insu HDFC General Insurance IDBI Federal Life Insuran IFFCO Tokio General Insur India first life insuranc ING Vysya Life Insurance Kotak Mahindra Old Mutual L and T General Insurance Max Bupa Health Insurance Max Life Insurance PNB Metlife Life Insuranc Reliance Life Insurance Royal Sundaram General In SBI Life Insurance Star Union Daiichi Life TATA AIG general insuranc Universal Sompo General I
    [Show full text]
  • Risk Profile Performance Vs Benchmark Asset Mix Performance
    Performance Summary May 31, 2019 RICH Fund III ULIF 050 17/03/08 LRICH3 105 Fund Objective: Inception Date March 17, 2008 The objective of the fund is to generate ₹ superior long-term returns from a diversified Assets Invested 248.3 Million portfolio of equity and equity related instruments of companies operating in four Fatema Pacha important types of industries viz., Resources, Fund Manager(s) Funds Managed: 8 (8 Equity) Investment-related, Consumption-related and Human Capital leveraged industries. Benchmark BSE 200 NAV ₹ 26.0105 as on May 31, 2019 Return Risk Profile Fund Performance (As on May 31, 2019 ) Since 1 Month 6 Month 1 Year 2 Year 3 Year 4 Year 5 Year Inception Fund Return 1.62% 8.41% 3.84% 6.2% 9.95% 6.58% 10.13% 8.9% Benchmark Return 1.45% 7.78% 7.14% 9.41% 13.14% 8.98% 11.05% 9.31% Performance Vs Benchmark Asset Mix (As on May 31, 2019) 30.00 4% ₹ 9.28 Million 25.00 20.00 ) ₹ V in ( NA 15.00 10.00 5.00 Jan 10 Jan 12 Jan 14 Jan 16 Jan 18 96% ₹ 238.99 Million Period Equity and Equity related securities Minimum 80% RICH Fund III BSE 200 Debt, Money Market and Cash Maximum 20% Details are as per IRDAI Product Filing. Returns greater than 1 year are annualized. Past performance is not indicative of future performance. Performance Summary May 31, 2019 % of Invested Top 10 Sectors * Assets Financial and insurance activities 24.42% Computer programming consultancy and related activities 12.16% Infrastructure 9.13% Manufacture of coke and refined petroleum products 6.74% Manufacture of chemicals and chemical products 5.75% Manufacture of tobacco products 4.81% Manufacture of motor vehicles trailers and semi-trailers 3.71% Manufacture of pharmaceuticalsmedicinal chemical and botanical 2.98% products Manufacture of electrical equipment 2.44% Manufacture of other non-metallic mineral products 2.32% OTHERS 25.54% *As per IRDAI NIC industry classification Details are as per IRDAI Product Filing.
    [Show full text]