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Retail companies have reported mixed performance, with premium retailers sustaining their growth momentum. However, value retailers continued to face pressure, noted the brokerage. Trent and Westlife Foodworld are the top picks of Axis Securities in the retail space post Q3FY24 results.
Saurabh Mukherjea expects a resurgence in private sector capex, growth in IT services and engineering R&D companies, and a pick-up in private consumption driven by the job market and interest rate cycle. The Marcellus founder discusses the optimistic outlook for private sector capex in India, highlighting names such as RSI, RHI Magnesita, and Grindwell Norton as plays on the steel demand and abrasive provider sectors. He also emphasizes the potential of Trent's Zudio proposition and Star Bazaar as disruptive players in the retail market.
Milind Karmarkar says: “A retail investor definitely needs to be lazy. At the same time, they also need to keep returning back to investment thought and confirm that the investment thought continues to hold in the company. As long as that is there, you do not need to do anything if the prices move up and down, no, not at all.”
The company's revenues climbed substantially over the past five years, to ₹8,242 crore in FY23 from ₹2,157 crore in FY18. Concurrently, the net profit surged nearly five-fold to ₹394 crore. The stock has sparkled, too. Last year, Trent more than doubled in value, outpacing the 20% returns for the Nifty50. Over a two-year span, the stock nearly tripled, while the Nifty climbed 27% in the period.
JM Financial said Tata Power is tapping high-margin group captive renewables opportunities, exiting low-value businesses, venturing into brownfield pumped hydro storage, and expanding transmission business.