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Zepto has surpassed Swiggy Instamart to become the second-largest player in the quick commerce sector, according to a report by Motilal Oswal. Blinkit remains the market leader with a 46% share, while Zepto holds 29% and Swiggy Instamart accounts for 25%. Raamdeo Agrawal, chairman of Motilal Oswal, is an investor in both Zepto and Swiggy.
Motilal Oswal has reiterated a BUY rating for Galaxy Surfactants, setting a target price of Rs 3,865. The company is poised for significant growth in FY25, driven by rising disposable incomes and a shift towards premium personal care products, with an estimated volume CAGR of 9% from FY24-27. Currently trading at approximately 22x FY26E EPS, Galaxy Surfactants aims for PAT growth exceeding EBITDA growth, supported by a focus on profitability amidst macroeconomic challenges.
HealthKart has successfully raised $153 million in a secondary funding round led by ChrysCapital and Motilal Oswal Alternates, marking a significant milestone for consumer startups this year. The funding, which values the Gurugram-based health supplement platform at approximately $500 million, allows early investors and stakeholders to sell their shares, providing liquidity without new shares being issued. Notable backers include Peak XV, Temasek, and Intel Capital, among others.
In October, mutual fund inflows via monthly systematic investment plans (SIPs) surpassed Rs 25,000 crore for the first time, with equity mutual funds attracting over Rs 41,500 crore as retail investors capitalized on market conditions. Fund managers adjusted allocations, increasing weights in sectors like banks, healthcare, technology, and cement, while reducing exposure to oil & gas, consumer durables, and automobiles.
Kolte Patil Developers (KPDL) reported a 22% YoY increase in pre-sales to INR 7.7 billion in 2QFY25, driven by strong performance in Life Republic and 24K projects. The company plans to launch additional projects in 2HFY25, although approval delays may affect timelines. Motilal Oswal maintains a 'BUY' rating with a target price of INR 525, reflecting a potential upside of 46%.
Sunteck Realty reported pre-sales of INR 5.2 billion in 2QFY25, marking a 33% year-on-year increase, although 13% below estimates. The company achieved 41% of its FY25 pre-sales guidance of INR 25 billion, driven by strong demand in uber-luxury and upper mid-income segments. Motilal Oswal maintains a BUY rating with a target price of INR 745, indicating a potential upside of 52%.
Motilal Oswal has maintained a 'BUY' rating on Kirloskar Oil Engines (KOEL) with a revised target price of Rs 1,500, following strong 2QFY25 results that showed 13% revenue growth and significant increases in EBITDA and PAT. Despite challenges in the B2C segment and weaker exports, KOEL is expected to benefit from improving demand in the genset market. The stock is currently trading at a notable discount compared to the market leader, with adjusted valuations indicating potential for growth.
Motilal Oswal has reiterated a "Sell" rating on Eicher Motors, setting a target price of INR 4,000, citing a disappointing 2QFY25 performance with a 90bp YoY margin contraction to 25.5% due to increased expenses. While VECV outperformed industry growth, it did so at the cost of margins, which fell 70bp YoY to 7.1%. The management plans to prioritize demand generation over margin recovery, leading to a revised outlook of slower earnings growth.
Motilal Oswal maintains a Neutral rating on Bosch, setting a target price of INR 34,280. The company's 2QFY25 performance exceeded expectations due to lower raw material costs, but weak auto demand, particularly in commercial and passenger vehicles, continues to pressure margins. Despite ongoing localization efforts, visibility for improvement remains limited in the near term.
Barbeque Nation Hospitality reported a 1.3% YoY revenue growth, hindered by increased vegetarian days and sluggish demand, with same-store sales growth at -2.5% in 2QFY25. Despite flat dine-in revenue, delivery increased by 4%, and the company achieved a 210bp YoY expansion in gross margin to 68.1%. The outlook remains cautious for FY25, prompting a Neutral rating with a target price of INR 600, based on a 17x Sep’26E Pre Ind-AS EV/EBITDA.
Motilal Oswal
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
zepto surpasses swiggy instamart to become second in quick commerce
13:55 20.11.2024
Galaxy Surfactants poised for growth with strong market outlook and buy rating
08:06 20.11.2024
HealthKart secures 153 million dollars in significant secondary funding round
Indian Rupee
Motilal Oswal Alternates
HealthKart
Kae Capital
Temasek
Peak XV
SoFinak
A91 Partners
Neo Group
IIFL
Intel Capital
ChrysCapital
IND
A91 Partners
Motilal Oswal
Temasek
ChrysCapital
Intel Capital
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12:19 18.11.2024
record mutual fund inflows shift investment focus to it and pharma sectors
08:11 18.11.2024
Kolte Patil Developers targets 525 with strong pre-sales growth in Q2
15:06 15.11.2024
Sunteck Realty reports strong pre-sales growth with bullish outlook and target price
14:59 15.11.2024
Motilal Oswal recommends buy on Kirloskar Oil Engines with target of 1500
13:23 15.11.2024
Eicher Motors faces margin pressure prompting sell recommendation with target price of 4000
13:09 15.11.2024
Bosch reports strong Q2 performance amid ongoing auto demand challenges
12:44 14.11.2024
Barbeque Nation Hospitality reports modest growth amid challenging demand conditions
12:43 14.11.2024
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