Morning Report 04 Nov 2019

Overview : Nifty may continue its upward move following global peers, however 11980 may act as resistance for the Index. Breaching this level may take Nifty to 12100 level. On lower side 11784 may act as support...

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Axis Bank 31 Jul 2019

Overview : Valuations capture upside risks and improved visibility on 18% RoE in current challenging environment is crucial for sustainable re-rating of the stock. At 2.3x FY21E P/ABV for RoE of 17% by FY21E we ...

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Metal & Mining 05 Jul 2019

Overview : In a reversal of fortunes, we expect mining companies to outperform their metals’ peers in Q1FY20. Earnings for companies in the ferrous space are expected to be compressed by the continued decline in...

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Team leas service 29 May 2019

Overview : Tracking the strong business growth in FY19, the stock rallied about 43% in the past one year Even as we raise the TP from INR2,801 to INR3,425 (rolling forward by two quarters with estimates unchan...

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Economy Update 18 Jun 2018

Overview : The trade deficit in May was at a four-month high of USD14.6bn, up USD1bn versus April. The key trends are: 1) non-oil exports grew 10% YoY–strongest in five months—entirely led by the base effect; se...

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