Maintain ‘buy’ on Lanco Infra, target Rs 9: Edelweiss
Posted on 28th November 2015 |
.jpg) |
| Maintain ‘buy’ on Lanco Infratech with an SoTP-based target price of Rs 9 per share. Resolution of regulatory issues seems to be behind us and progress on asset / stake sale leading to reduction in debt will determine stock performance. Lanco’s Q2FY16 adjusted loss was in line at ~Rs 470 crore. EPC operations have resumed and normalised activity is expected going forward with quarterly revenue of ~Rs 1,500 crore and ~11-12% ebitda. Kondapalli expansion is expected to be commissioned by Q3FY16 end; with the recent gas pooling initiative, it is expected to operate at ~50% PLF. Resolution of pending issues at both Anpara and Amarkantak is expected to improve cash flows. Management plans to induct strategic partners at the power asset level and Griffin asset, which will deleverage balance sheet and help in equity infusion for under construction assets. Recovery in financials is expected to be gradual, due to the inherent asset value. While operational performance of power/resources segments was in line, EPC reported adjusted EBIT of ~R1 billion (~R144 million in Q1FY16 and R253 million loss in Q2FY15) on account of revival of internal project execution resulting in revenue rising 5x q-o-q and 2x y-o-y. Griffin sales remained flat q-o-q at 0.6 million tonnes with marginal improvement in realisations. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for Maintain ‘buy’ on Lanco Infra, target Rs 9: Edelweiss |
|
|
|
