Nuvoco Vistas IPO - Don’t See Any Strong Reason to Buy
Nuvoco Vistas (NV) aims to raise around US$673m in its India IPO. It is promoted by the Nirma Group and has recently acquired Emami’s cement business.
242 Views
Cartrade Tech IPO - Too Expensive for Our Taste
CarTrade Tech aims to raise around US$400m in its India IPO, via a 100% secondary selldown. The company is backed by Warburg Pincus and Temasek.
203 Views
HDFC Ltd – Just Getting Worse
HDFC: HDFC reported FY 1Q22 QOQ core result decline of 9.9%. Net new NPLs increased 65.5% annualized basis; HDFC’s reserve needs shoring up INR 83...
157 Views
Core operating profit in-line; commentary suggests healthy recovery from second wave impact
HDFC's core PBT grew 12% YoY to INR32.2b (5% beat). NII (ex-assignment income) at INR41.3b was 2% above our estimate. On the other hand, provisions...
126 Views
CarTrade Tech Pre-IPO - Acquisition Adjusted Growth Remains Low
CarTrade Tech aims to raise around US$300m in its India IPO. The company is backed by Warburg and Temasek, and claims to be the most popular auto...
198 Views