·Gabriel India dips 4% as Q3FY15 PAT comes below estimates
Shares of Gabriel India dropped 4% to Rs100 on NSE post Q3FY15 results as topline disappoints; PAT below estimate. After growing at nearly 20% in H1FY2015, the topline growth for Gabriel India in Q3FY15 faltered. The revenue growth at 5.9% YoY was below our estimates. EBITDA margins for the quarter were flat sequentially at 8.0% (120BPS YoY expansion) and were in line with our estimates. Operating profit grew 25.1% YoY to Rs28.8 crore.
·Sterlite Tech announces $100,000 seed fund for broadband research
Sterlite Technologies announces $100,000 (Rs150cr) seed fund for broadband research innovation; positive for the stock.The company has also set up Centre of Excellence (CoE) in Aurangabad with the total investment of Rs55 crore.The CoE will adjoin company's 20-millon kms optical plant in Auragabad. According to Sterlite, the CoE is the only such facility in India dedicated to research and development of fibre-optic broadband technologies. It is seeing focus of telecom operators now coming to data (internet) business which will push demand for optical fibre cable (OFC).
·M&M January 2014 auto division volumes ahead of estimates
Mahindra & Mahindra January 2014 auto division volumes ahead of estimates; tractor dispatches in-line with estimates. Mahindra & Mahindra automotive division volumes for January 2015 were down 6.5% YoY to 39,930 units. The passenger vehicle segment volumes, although down 5% YoY, grew by 8.6% of a sequential basis and were above our estimates.
·Dabur India up as Nomura raises target price
Shares of Dabur India rose over 2%, touching to Rs262.8, after Nomura raises price target to Rs296 from Rs251, retains ' Buy' rating. Dabur is one of the conviction Buy ideas in the mid-cap space within the sector – Nomura. Diversified portfolio of the company should continue to deliver consistent and profitable performance - Nomura Securities
·Government releases revised estimates of GDP
Government releases revised estimates of GDP with new base year. The central statistics office ( CSO) has come out with a new series of national accounts with 2011-12 as base year for computing economic growth rate. Post the revision, FY14 GDP growth stands at 6.9% (from 4.7%) and FY13 at 5.1%.This changes are done once in five years to keep pace with the changes in the economy. Henceforth, CSO will measure growth by gross value-added at basic prices, instead of by GDP at factor cost.
·GSFC to invest Rs900 cr in melamine project
GSFC plans to invest Rs900 cr in melamine project. The company will set up 40,000-MTPA melamine plant which used for making plastics, fertiliser and crockery products, which is expected to be commissioned in the third quarter of FY 2017-18, at Vadodara. Positive for the company
·Bharat Forge reports strong Q3 earnings; Net Profit at 196 cr
Bharat Forge has announced the following Q3 results for the quarter ended December 31, 2014 (YoY):Net Profit rose by 108.93% to Rs196.34 crore Vs Rs93.97 crore (YoY).
Total Income increased by 41.91% to Rs1216.88 crore Vs Rs857.47 crore (YoY).
·Monsanto India spurts 13% as India may back GM crops
Shares of Monsanto India jumped 13% to Rs3567 hitting day’s high of Rs3767 on NSE in otherwise weak markets. The stock headed towards its biggest daily gain since September 2014.According to news reports, the government is persuading local groups to end opposition to GM crops.However in Q3FY2015 the company’s revenue and earnings were negatively impacted on back of seasonality issues.
Shares of Gabriel India dropped 4% to Rs100 on NSE post Q3FY15 results as topline disappoints; PAT below estimate. After growing at nearly 20% in H1FY2015, the topline growth for Gabriel India in Q3FY15 faltered. The revenue growth at 5.9% YoY was below our estimates. EBITDA margins for the quarter were flat sequentially at 8.0% (120BPS YoY expansion) and were in line with our estimates. Operating profit grew 25.1% YoY to Rs28.8 crore.
·Sterlite Tech announces $100,000 seed fund for broadband research
Sterlite Technologies announces $100,000 (Rs150cr) seed fund for broadband research innovation; positive for the stock.The company has also set up Centre of Excellence (CoE) in Aurangabad with the total investment of Rs55 crore.The CoE will adjoin company's 20-millon kms optical plant in Auragabad. According to Sterlite, the CoE is the only such facility in India dedicated to research and development of fibre-optic broadband technologies. It is seeing focus of telecom operators now coming to data (internet) business which will push demand for optical fibre cable (OFC).
·M&M January 2014 auto division volumes ahead of estimates
Mahindra & Mahindra January 2014 auto division volumes ahead of estimates; tractor dispatches in-line with estimates. Mahindra & Mahindra automotive division volumes for January 2015 were down 6.5% YoY to 39,930 units. The passenger vehicle segment volumes, although down 5% YoY, grew by 8.6% of a sequential basis and were above our estimates.
·Dabur India up as Nomura raises target price
Shares of Dabur India rose over 2%, touching to Rs262.8, after Nomura raises price target to Rs296 from Rs251, retains ' Buy' rating. Dabur is one of the conviction Buy ideas in the mid-cap space within the sector – Nomura. Diversified portfolio of the company should continue to deliver consistent and profitable performance - Nomura Securities
·Government releases revised estimates of GDP
Government releases revised estimates of GDP with new base year. The central statistics office ( CSO) has come out with a new series of national accounts with 2011-12 as base year for computing economic growth rate. Post the revision, FY14 GDP growth stands at 6.9% (from 4.7%) and FY13 at 5.1%.This changes are done once in five years to keep pace with the changes in the economy. Henceforth, CSO will measure growth by gross value-added at basic prices, instead of by GDP at factor cost.
·GSFC to invest Rs900 cr in melamine project
GSFC plans to invest Rs900 cr in melamine project. The company will set up 40,000-MTPA melamine plant which used for making plastics, fertiliser and crockery products, which is expected to be commissioned in the third quarter of FY 2017-18, at Vadodara. Positive for the company
·Bharat Forge reports strong Q3 earnings; Net Profit at 196 cr
Bharat Forge has announced the following Q3 results for the quarter ended December 31, 2014 (YoY):Net Profit rose by 108.93% to Rs196.34 crore Vs Rs93.97 crore (YoY).
Total Income increased by 41.91% to Rs1216.88 crore Vs Rs857.47 crore (YoY).
·Monsanto India spurts 13% as India may back GM crops
Shares of Monsanto India jumped 13% to Rs3567 hitting day’s high of Rs3767 on NSE in otherwise weak markets. The stock headed towards its biggest daily gain since September 2014.According to news reports, the government is persuading local groups to end opposition to GM crops.However in Q3FY2015 the company’s revenue and earnings were negatively impacted on back of seasonality issues.
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