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>GAIL: Our BUY recommendation on GAIL with a target price of INR 137 is based on (1) an increase in gas transmission volume to 127mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segment</li><li>Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment</li><li>However, sharp pick-up in natural gas transmission volumes, higher tariff and higher gas marketing volumes supported earnings</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: Our BUY recommendation on GAIL with a target price of INR 137 is based on (1) an increase in gas transmission volume to 127mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segmentQ1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segmentHowever, sharp pick-up in natural gas transmission volumes, higher tariff and higher gas marketing volumes supported earningsContent 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: GAIL, Oberoi Realty, Petronet LNG, Navin Fluorine International

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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.

<ul><li>We expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 4%/1%/5% YoY.</li><li>The said growth was led by better execution which supported higher profitability during the quarter.</li><li>All companies, except GR infra, are expected to post revenue growth in the range of 9-10%.</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>

We expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 4%/1%/5% YoY.The said growth was led by better execution which supported higher profitability during the quarter.All companies, except GR infra, are expected to post revenue growth in the range of 9-10%.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.

Equity Bottom-Up

HG Infra Engineering Ltd / Equity Bottom-Up

<ul><li>H.G. Infra Engineering Limited (HGIEL) – incorporated in 2003, is a Jaipur (Rajasthan) based infrastructure company engaged in construction, development, designing, and management of infrastructure projects.</li><li>Over the last 18 years, the company has successfully transformed itself into a primary road developer from a sub- contractor and has completed 35 projects during this period.</li><li>Robust order book: The company’s order book stands healthy at Rs 12,595 Cr (as of 31st Mar’23), comprising 55% from the EPC road projects and the balance 45% from the HAM road projects.</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>

H.G. Infra Engineering Limited (HGIEL) – incorporated in 2003, is a Jaipur (Rajasthan) based infrastructure company engaged in construction, development, designing, and management of infrastructure projects.Over the last 18 years, the company has successfully transformed itself into a primary road developer from a sub- contractor and has completed 35 projects during this period.Robust order book: The company’s order book stands healthy at Rs 12,595 Cr (as of 31st Mar’23), comprising 55% from the EPC road projects and the balance 45% from the HAM road projects.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.

Pick of the Week - H G Infra Ltd - 19 JUNE 2023

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<li>During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by better execution.</li>
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<li>Considerable improvement in performance matrix: On a sequential basis, Revenue/EBITDA/APAT showed considerable improvement and grew 21%/20%/27%.</li>
<li>EBITDA margins came at 15.5% vs. 16.3% YoY slightly lower owing to underperformance by GR Infraprojects Ltd while other stocks performed well.</li>
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<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>


During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by better execution.





Considerable improvement in performance matrix: On a sequential basis, Revenue/EBITDA/APAT showed considerable improvement and grew 21%/20%/27%.
EBITDA margins came at 15.5% vs. 16.3% YoY slightly lower owing to underperformance by GR Infraprojects Ltd while other stocks performed well.




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.

India

H.G. Infra Engineering Limited (HGIEL) provides infrastructure construction services. The Company offers highways, roads, bridges, runways, and civil construction, as well as land development, water pipelines, and rehabilitation and upgradation services. HGIEL serves customers in India.

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HG Infra Engineering Ltd (HGINFRA IN)

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG, Navin Fluorine International

Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment

HDFC Securities

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG

Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment

HDFC Securities

INFRA-ROAD Q1FY24 - Earnings Preview

Our preferred picks in the sector: PNC Infratech, HG Infra; KNR Construction. We expect road construction companies under our coverage to report...

Axis Direct

Pick of the Week - H G Infra Ltd - 19 JUNE 2023

Over the last 18 years, the company has successfully transformed itself into a primary road developer from a sub- contractor and has completed 35...

Axis Direct

Top Sector Ideas - Infra-Road Sector

During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by...

Axis Direct

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