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Improved vol and better realisations boost performance - HZL's Q3FY11 revenue increased 17% YoY to Rs26.3bn, owing to 15% YoY rise in metal sales and higher LME zinc price (up 6% YoY). Operating profit grew by 9% YoY to Rs15.1bn on higher raw material and stripping cost. PAT grew by 12% YoY to Rs12.9bn on higher treasury income and lower tax rate.
Hindustan Media Ventures (HMVL) top-line grew by 28% YoY to Rs1.3bn where in the Ad revenue (72% of total revenue) grew by 35% YoY and sequentially by 3% to Rs945 mn. Circulation revenue registered QoQ growth of 6% to Rs306mn. Operating margins stood at 14.1%, sequential drop of 30bps mainly because of hardening newsprint prices and heightened advertisement & sales expenses.
HCL Tech revenues grew 7.5%QoQ to USD864mn led by strong volume growth of 6.5%QoQ, better than peers Infosys and TCS, and 1%QoQ positive impact of cross currency. Lower forex losses led to surge in profitability. EPS stood at Rs5.7 (PINCe - Rs5.5, Consensus Est. Rs5.4).Motilal Oswal Financial Services has reiterated its BUY recommendation on Shriram Finance (SHFL), assigning a target price of Rs 1,175, implying an upside potential of nearly 29% from the current m
News in Focus
Featured, India Business, Analyst View, Stock Markets, Finance Sector, India, Motilal Oswal, Shriram Transport Finance
Featured, India Business, Analyst View, Stock Markets, Honasa Consumer, ICICI Securities, India, Retail Sector
ICICI Securities has reiterated its BUY recommendation on Honasa Consumer Limited, raising its target price to Rs 550 from Rs 500, implying an upside potential of nearly 32% from the current market
Featured, India Business, Analyst View, Agriculture, Balkrishna Industries, Geojit Financial Services, India
Geojit Financial Services has upgraded Balkrishna Industries (BKT) to a BUY rating and assigned a 12-month target price of Rs.
Motilal Oswal has a Buy with a Rs 530 target — 24% upside from Rs 426.
Indian Renewable Energy Development Agency (IREDA) continues to demonstrate strong balance-sheet expansion despite a temporary slowdown in profitability caused by elevated provisioning and foreign
IDBI Capital has maintained its BUY recommendation on Apeejay Surrendra Park Hotels Ltd.
Main Regional Stories
Featured, India Business, Analyst View, Auto Sector, Bajaj Auto, Geojit Financial Services, Maharashtra
Geojit Financial Services has upgraded Bajaj Auto Limited to a BUY rating from HOLD, assigning a 12-month target price of Rs. 11,735, implying an upside potential of approximately 12% from the current market price of Rs. 10,460.
Keynote Capitals has maintained its BUY recommendation on Yatra Online Limited, assigning a target price of Rs. 206 against the current market price of Rs. 98, implying a potential upside of approximately 110%.
Tata Steel share price declined 1.8 percent on Friday after reports of fire at its UK-based steel plant. The company shared the fire was contained but there was damage at the steel plant.
Featured, India Business, Analyst View, Stock Markets, ICICI Securities, India, Indo Count Industries, Textile Sector
ICICI Securities has retained its BUY call on Indo Count Industries, setting a revised 12-month target of Rs 418, versus a current market price of Rs 344.
