Pick of the weel (Feb 7)
By IANS| Updated: 7th February 2021 12:06 pm IST
Recommendation by HDFC Securities
While LICHF’s operating performance was in line with estimates, (PPOP growth at 1.3/3.4%), earnings were ahead of estimates as provisioning continued to undershoot estimates. Over the years, non-core assets have contributed to a bulk of the portfolio growth, resulting in disproportionate risk (already reflecting in high developer NPAs). Furthermore, the company holds negligible provisions on early-bucket stressed assets. Potentially elevated provisions, coupled with stiff competition from banks in LICHF’s core business underpin our REDUCE rating (revised target price of INR 381).
Jubilant FoodWorks Reduce
January auto sales maintain momentum
February 02, 2021
Industry expects trend to continue in current quarter and next, on low base year
The domestic automobile dispatches (wholesales) in January sustained demand across segments, mostly due to the new launches, and companies are expected to continue the momentum in the current quarter.
In the passenger vehicle segment, though, market leader Maruti Suzuki India reported a marginal decline year-on-year (YoY) in its wholesales to 1,39,002 units during the month as compared with 1,39,844 units in the corresponding month last year.
Similarly, in the two-wheeler segment, market leader Hero MotoCorp reported a decline of 4 per cent YoY in its sales to 4,67,776 units as against 4,88,069 units in January 2020.
Strong demand and prices for steel in China should provide a cushion to regional and Indian steel prices already at lifetime high levels, Motilal Oswal Institutional Equities said in a report on Friday."China s domestic steel prices remain .
The Reserve Bank of India (RBI) is unlikely to further ease the interest rates in the next meeting of its Monetary Policy Committee even though retail inflation declined in December 2020, a report by Motilal Oswal Institutional Equities said. The Ecoscope report noted that the central bank is likely to continue with its calibrated approach towards the management of domestic liquidity. It is for the first time since the COVID-19 pandemic began that the CPI inflation has come within the RBI s target inflation range of 2-6%. What remains to be seen is if the downward trajectory in food prices continues during CY21. In any case, we do not expect any further monetary easing and the RBI is likely to continue to manage domestic liquidity in a calibrated manner, it said.
RBI unlikely to cut rates despite dip in Dec retail inflation: Report daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.