{
}
Piramal Enterprises reported a net profit of approximately INR 1.6 billion for 2QFY25, down from INR 1.8 billion in the previous quarter, boosted by an exceptional gain of INR 770 million from AIF portfolio recoveries. NII increased by 17% YoY to INR 8.8 billion, while PPOP surged 58% YoY to INR 4 billion. Despite a 38% YoY decline in PAT for 1HFY25 to INR 3.4 billion, total AUM grew 12% YoY, with retail AUM rising 42% YoY, now comprising 73% of the loan book. The stock is rated Neutral with a target price of INR 1,015.
Navin Fluorine International's 2QFY25 results showed EBITDA and PAT exceeding estimates by 6% and 12%, respectively, driven by strong performance in the HPP and CDMO segments. Despite a 3% YoY decline in earnings to INR588m, the HPP business grew 22% YoY, supported by optimal operations at HFO and R32 plants. The company is on track with its capex plans, and a revenue/EBITDA/adj. PAT CAGR of 21%/28%/31% is expected over FY24-27, leading to a target price of INR3,240 with a Neutral rating.
MAX Financial Services reported a steady performance in 2QFY25, with new business APE growing 31.3% YoY to INR 21.7 billion and VNB increasing 23.1% YoY to INR 5.1 billion. VNB margins expanded to 23.6%, driven by strong volume growth and rider attachment. The management aims for double-digit VNB growth and margins of 23-24% for FY25, while the target price is set at INR 1,300, reflecting a 20% holding company discount.
Indus Towers reported better-than-expected financials for 2QFY25, driven by a significant reversal of bad debt provisions totaling INR10.8 billion. However, core operational performance fell short, with recurring EBITDA at INR37.9 billion, slightly below estimates due to lower tower net additions and energy spreads. The company added 3.7k towers, below the expected 5.5k, and experienced a 19% QoQ decline in capex, while robust free cash flow of ~INR33 billion was noted, primarily used for a recent buyback. A DCF-based target price of INR385 has been set, maintaining a Neutral rating on the stock.
Can Fin Homes reported a 34% YoY increase in PAT to INR 2.1 billion for 2QFY25, with NII growing 7% YoY to INR 3.4 billion. The company aims for a loan growth of 13-14% in FY25 and plans to open 15 new branches, focusing on Tier 2 towns. Motilal Oswal maintains a Neutral rating with a target price of INR 960.
Bajaj Finance reported a 13% YoY growth in PAT for 2QFY25, reaching approximately INR 40.1 billion, with NII increasing by 23% YoY to around INR 88.4 billion. Despite a healthy PAT CAGR of ~24% projected through FY27E, the stock is rated Neutral with a target price of INR 7,320, reflecting limited upside catalysts.
SBI Life Insurance reported a weak performance in 2QFY25, with APE growth of 3% YoY to INR53.9b and a 3% decline in VNB to INR14.5b. Despite this, the management anticipates VNB growth of 12-15% for FY25 and maintains a BUY rating with a target price of INR2,100, supported by strong ULIP growth and new product launches.
ICICI Bank is set to report strong Q2FY25 results, driven by robust loan and deposit growth, with net interest income expected to rise 14% YoY to Rs 20,845 crore and profit projected to increase by 7% YoY to Rs 10,667 crore. Analysts anticipate limited margin contraction and no significant asset quality stress. The results will be released on October 26, 2024.
IndusInd Bank reported increased provisions due to a one-time profit impact, with micro-finance loans now comprising 9% of its loan portfolio. The gross non-performing assets (NPAs) in the MFI segment rose to 6.5% in Q2FY25, contributing to an overall gross NPA ratio increase to 2.76%. This reflects widespread stress across the bank's lending portfolio.
Domestic Institutional Investors (DIIs) have net bought shares worth Rs 3,620 crore, while Foreign Institutional Investors (FIIs) have net sold shares worth Rs 5,062 crore. Year-to-date, FIIs have net sold shares totaling Rs 2.36 lakh crore, whereas DIIs have purchased Rs 5.11 lakh crore in shares.
IND
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Piramal Enterprises reports mixed results with neutral outlook and revised target price
16:04 24.10.2024
Navin Fluorine International reports strong growth but maintains neutral outlook
16:04 24.10.2024
max financial services reports steady growth with neutral outlook and target price
16:04 24.10.2024
Indus Towers reports strong financials but faces operational challenges
16:04 24.10.2024
can fin homes reports strong growth but faces challenges ahead
16:04 24.10.2024
Bajaj Finance reports steady growth but maintains neutral outlook with target price
16:04 24.10.2024
SBI Life Insurance receives buy rating with target price of 2100 rupees
16:04 24.10.2024
icici bank poised for strong q2 growth amid healthy loan and deposit surge
15:36 24.10.2024
IndusInd Bank reports rising provisions amid worsening micro-finance asset quality
15:32 24.10.2024
diis continue buying while fiis record significant net sales in shares
15:22 24.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
CEO Changes
Retail and Consumer Goods
Banking Regulations
Market Analysis and Predictions
Industry Mergers & Acquisitions
Global Trade Developments
Energy Sector Developments
Startups & Entrepreneurship
Government Policies
Supply Chain Management
Financial Scams and Security
Domestic Politics
Government Economic Policies
Central Bank Actions
Hedge Funds & Private Equity
Countries:
Companies:
Tesla, Inc.
Barclays PLC
JPMorgan Chase & Co.
Apple Inc.
BNP Paribas SA
UBS Group AG
NVIDIA Corporation
Morgan Stanley
Bank of America Corporation
Capital One Financial Corporation
The Goldman Sachs Group, Inc.
Deutsche Bank RV Global PP
Amazon.com, Inc.
Citigroup Inc.
Commerzbank AG
SpaceXCoin USD
Credit Suisse Real Estate Fund Siat
Wells Fargo & Company
UniCredit S.p.A.
Microsoft Corporation
Currencies:
United States Dollar
Euro
Chinese Yuan
Indian Rupee
Swiss Franc
British Pound Sterling
Vietnamese Đồng
Hong Kong Dollar
Australian Dollar
United Arab Emirates Dirham
Singapore Dollar
South Korean Won
Thai Baht
Norwegian Krone
Danish Krone
Swedish Krona
Russian Ruble
Ghanaian Cedi
Canadian Dollar
Turkish Lira
People: