External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Equity Bottom-Up

<ul><li>Gujarat Gas has announced a scheme of amalgamation and arrangement, under which Gujarat State Petroleum Corp.</li><li>(GSPC), Gujarat State Petronet (GUJS) and GSPC Energy (GEL) will merge with Gujarat Gas.</li><li>This will be followed by the merged entity de-merging the transmission business into a new entity, GSPL Transmission Limited (GTL).</li></ul>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.

Gujarat Gas has announced a scheme of amalgamation and arrangement, under which Gujarat State Petroleum Corp.(GSPC), Gujarat State Petronet (GUJS) and GSPC Energy (GEL) will merge with Gujarat Gas.This will be followed by the merged entity de-merging the transmission business into a new entity, GSPL Transmission Limited (GTL).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.

Gujarat Gas - Merger to Unlock Value for GUJGA and GUJS

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>Prabhudas Lilladher's research report onGujarat Gas Gujarat Gas (Gujga) reported an EBITDA/PAT of Rs 5.9bn (+47.5% QoQ, PLe: Rs 5bn) and Rs4.1bn (+86% QoQ, PLe: Rs 2.9bn) respectively.</li><li>Total volumes grew 9.4% YoY to 9.7mmscmd, driven by 8% YoY recovery in industrial/commercial volumes.</li><li>EBITDA/scm came in strong at Rs6.7/scm.</li></ul>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.

Prabhudas Lilladher's research report onGujarat Gas Gujarat Gas (Gujga) reported an EBITDA/PAT of Rs 5.9bn (+47.5% QoQ, PLe: Rs 5bn) and Rs4.1bn (+86% QoQ, PLe: Rs 2.9bn) respectively.Total volumes grew 9.4% YoY to 9.7mmscmd, driven by 8% YoY recovery in industrial/commercial volumes.EBITDA/scm came in strong at Rs6.7/scm.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.

Gujarat Gas (GUJGA IN) - Beat on Estimates Led by Strong EBITDA/Scm

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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>State Bank of India: SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset quality</li><li>Loan growth (+15% YoY) was strong across segments even as the Xpress credit portfolio continued to decelerate</li><li>Deposit growth (+9% YoY, +4.4% QoQ) was marginally soft as the CASA ratio dropped further to 38.4% (-64 bps QoQ), given that strong CA traction was offset by sluggish growth in SA balances</li></ul>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.

State Bank of India: SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset qualityLoan growth (+15% YoY) was strong across segments even as the Xpress credit portfolio continued to decelerateDeposit growth (+9% YoY, +4.4% QoQ) was marginally soft as the CASA ratio dropped further to 38.4% (-64 bps QoQ), given that strong CA traction was offset by sluggish growth in SA balancesContent 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: State Bank of India, Tata Motors, Oil India, Ashok Leyland, Gujarat Gas

<ul><li>Cummins: Cummins India Ltd (CIL) reported in-line/below performance vs consensus/our estimates with revenue/EBITDA/APAT missing our estimates by 7/13/12%</li><li>Domestic business grew 12% YoY whilst exports declined 22% on the back of weak overseas demand.</li><li>CPCB 4+ implementation seems to be a game changer as it forces demand to move from commodity players to technology players and opens up service opportunities</li></ul>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.

Cummins: Cummins India Ltd (CIL) reported in-line/below performance vs consensus/our estimates with revenue/EBITDA/APAT missing our estimates by 7/13/12%Domestic business grew 12% YoY whilst exports declined 22% on the back of weak overseas demand.CPCB 4+ implementation seems to be a game changer as it forces demand to move from commodity players to technology players and opens up service opportunitiesContent 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: Cummins, Lupin, Shree Cement, Gujarat Gas, Aditya Birla Fashion and Retail

<ul><li>Larsen &amp; Toubro: Larsen &amp; Toubro (LT) reported an in-line performance, with revenue/EBITDA/APAT at INR 670.8/72.3/43bn, a beat/(miss) of 1.3/(7.4)/(1.2)%</li><li>P&amp;M margins came in weaker than expected which resulted in LT achieving the lower end of FY24 margin guidance of 8.25-8.5% at 8.2%</li><li>LT gave 15/10% revenue/order inflow guidance for FY25 which is better than expected</li></ul>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.

Larsen &amp; Toubro: Larsen &amp; Toubro (LT) reported an in-line performance, with revenue/EBITDA/APAT at INR 670.8/72.3/43bn, a beat/(miss) of 1.3/(7.4)/(1.2)%P&amp;M margins came in weaker than expected which resulted in LT achieving the lower end of FY24 margin guidance of 8.25-8.5% at 8.2%LT gave 15/10% revenue/order inflow guidance for FY25 which is better than expectedContent 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: Larsen & Toubro, TVS Motor, Hero Motocorp

India

Gujarat Gas Limited provides natural gas. The Company supplies piped natural gas to residential, commercial, and industrial customers. Gujarat Gas serves customers in India.

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Gujarat Gas Ltd (GUJGA IN)

Gujarat Gas - Merger to Unlock Value for GUJGA and GUJS

We maintain our BUY rating on Gujarat Gas with a TP of INR715. While 2QFY25 volume momentum is expected to be weak QoQ amid high spot LNG prices...

Motilal Oswal

Gujarat Gas (GUJGA IN) - Beat on Estimates Led by Strong EBITDA/Scm

Prabhudas Lilladher's research report onGujarat Gas Gujarat Gas (Gujga) reported an EBITDA/PAT of Rs 5.9bn (+47.5% QoQ, PLe: Rs 5bn) and Rs4.1bn...

Prabhudas Lilladhar

HSIE Results Daily: State Bank of India, Tata Motors, Oil India, Ashok Leyland, Gujarat Gas

SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset...

HDFC Securities

HSIE Results Daily: Cummins, Lupin, Shree Cement, Gujarat Gas, Aditya Birla Fashion and Retail

Cummins India Ltd (CIL) reported in-line/below performance vs consensus/our estimates with revenue/EBITDA/APAT missing our estimates by 7/13/12%

HDFC Securities

HSIE Results Daily: Larsen & Toubro, TVS Motor, Hero Motocorp

Larsen & Toubro: Larsen & Toubro (LT) reported an in-line performance, with revenue/EBITDA/APAT at INR 670.8/72.3/43bn, a beat/(miss) of 1.3/(7.4)...

HDFC Securities

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