External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Dabur: Dabur’s Q1 revenue growth and EBITDA margin were in line</li><li>Revenue grew 8% YoY (HSIE 8%), with three-year CAGR at 7%</li><li>Domestic revenue/volume grew 10/5% YoY, with three-year CAGR at 12/8% vs HUL 9/2%, Nestle 11/7%</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Dabur: Dabur’s Q1 revenue growth and EBITDA margin were in lineRevenue grew 8% YoY (HSIE 8%), with three-year CAGR at 7%Domestic revenue/volume grew 10/5% YoY, with three-year CAGR at 12/8% vs HUL 9/2%, Nestle 11/7%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Dabur, Britannia Industries, Godrej Consumers

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

Equity Bottom-Up

<div><div><div><div><ul><li>GAIL 4QFY22 standalone revenue at Rs269.62bn was above NBIE estimate by 23.7%, but gross contribution was only a tad below our estimate - COGS at Rs212.88bn was higher than our estimate by 32.3%. Revenue beat of 5.6% vs consensus.</li></ul><div><div><div><div><ul><li>GAIL 4QFY22 Standalone EBITDA at Rs37.15bn missed our estimate by 10.9% due to employee cost/other expenses coming in 23.8%/29% above our estimates. EBITDA was a 6.4% miss vs street estimate.</li></ul><div><div><div><div><ul><li>PAT of Rs26.83bn was a miss of 13.9% vs our estimate due to other income coming in 25.5% lower than our estimate at Rs4.2bn. PAT was a 10.1% miss vs street estimate.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GAIL 4QFY22 standalone revenue at Rs269.62bn was above NBIE estimate by 23.7%, but gross contribution was only a tad below our estimate - COGS at Rs212.88bn was higher than our estimate by 32.3%. Revenue beat of 5.6% vs consensus.GAIL 4QFY22 Standalone EBITDA at Rs37.15bn missed our estimate by 10.9% due to employee cost/other expenses coming in 23.8%/29% above our estimates. EBITDA was a 6.4% miss vs street estimate.PAT of Rs26.83bn was a miss of 13.9% vs our estimate due to other income coming in 25.5% lower than our estimate at Rs4.2bn. PAT was a 10.1% miss vs street estimate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GAIL - Growth in Gas Volume the Key Catalyst

<ul><li>GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.</li><li>The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.</li><li>This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Gail India is a gas utility company with various business segments such as gas transmission &amp; trading, LPG, LLH and petrochemicals.</li><li>It operates a natural gas pipeline network of 13700 km as of end of FY21</li><li>Target Price and Valuation: We roll over valuations to FY24E and value Gail at Rs 180/share based on SoTP method</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Gail India is a gas utility company with various business segments such as gas transmission &amp; trading, LPG, LLH and petrochemicals.It operates a natural gas pipeline network of 13700 km as of end of FY21Target Price and Valuation: We roll over valuations to FY24E and value Gail at Rs 180/share based on SoTP methodContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GAIL: Gas Trading Segment Continues to Drive Earnings

<p>GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E to 136mmscmd on the back of (1) increase in domestic gas production, (2) increase in demand of RLNG, and (3) completion of major pipelines in eastern and southern India. Q2FY22 EBITDA/APAT were 34/47% above our estimates, owing to a 7% higher revenue, lower-than-expected raw material cost, higher-than-expected other income, and lower-than-expected tax outgo.</p>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E to 136mmscmd on the back of (1) increase in domestic gas production, (2) increase in demand of RLNG, and (3) completion of major pipelines in eastern and southern India. Q2FY22 EBITDA/APAT were 34/47% above our estimates, owing to a 7% higher revenue, lower-than-expected raw material cost, higher-than-expected other income, and lower-than-expected tax outgo.
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: NTPC, DLF, InterGlobe Aviation, Tata Power, GAIL (India), JSW Energy, Bandhan...

India

GAIL India Limited processes and distributes natural gas and liquefied petroleum gas. The Company is a Government of India undertaking.

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Gail India (GAIL IN)

HSIE Results Daily: Dabur, Britannia Industries, Godrej Consumers

Dabur: Dabur’s Q1 revenue growth and EBITDA margin were in line. Revenue grew 8% YoY (HSIE 8%), with three-year CAGR at 7%

HDFC Securities

GAIL - Growth in Gas Volume the Key Catalyst

We maintain BUY on GAIL after cutting our SOTP-based target price (TP) from Rs189 to Rs168. This follows 21% increase in FY23E and 3.9% cut in...

Nirmal Bang

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil & Gas pack even as the rest of the sector companies are trapped...

Nirmal Bang

GAIL: Gas Trading Segment Continues to Drive Earnings

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general...

ICICI Securities Limited

HSIE Results Daily: NTPC, DLF, InterGlobe Aviation, Tata Power, GAIL (India), JSW Energy, Bandhan...

GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E...

HDFC Securities

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