External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<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), 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.

Equity Bottom-Up

CreditAccess Grameen Ltd / Equity Bottom-Up

<p>CreditAccess Grameen: CreditAccess Grameen's (CREDAG) Q2FY22 earnings beat our estimates, led by healthy NII traction and asset quality improvement. As expected, the portfolio's transient stress from Q1FY22 decreased significantly with PAR-0 falling sharply from 30.6% to 11.5% sequentially (9.9% in Oct-21 for the standalone entity). GNPA increased marginally from 7.6% to 7.7% for the consolidated entity, despite MMFL aligning to 60dpd NPA recognition, in line with the standalone entity. With collection efficiencies on the rise (99% including arrears) and a low number of borrowers (4.4% of AUM) with zero payments, management has guided for a credit cost of ~4.8% and RoA of ~2% in FY22.</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>

CreditAccess Grameen: CreditAccess Grameen's (CREDAG) Q2FY22 earnings beat our estimates, led by healthy NII traction and asset quality improvement. As expected, the portfolio's transient stress from Q1FY22 decreased significantly with PAR-0 falling sharply from 30.6% to 11.5% sequentially (9.9% in Oct-21 for the standalone entity). GNPA increased marginally from 7.6% to 7.7% for the consolidated entity, despite MMFL aligning to 60dpd NPA recognition, in line with the standalone entity. With collection efficiencies on the rise (99% including arrears) and a low number of borrowers (4.4% of AUM) with zero payments, management has guided for a credit cost of ~4.8% and RoA of ~2% in FY22.
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: PGCIL, Petronet LNG, Max Financial, Birla Corporation, CreditAccess Grameen,...

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<p>Post market close on 23 August, the Index Maintenance Sub-Committee (IMSC) of NSE Indices announced the results of the September index review for the NIFTY family of indices. The rebalance will be effective after the close of trading on 29 September and passive funds will need to trade at the close (VWAP over the last 30 minutes of trading) on the day.</p><p>There are no changes to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a>, in line with what we expected.</p><p>There are 5 changes to the NIFTY Next 50 Index. <a href="https://www.smartkarma.com/entities/bank-of-baroda" target="_blank" data-smartkarma-citation="entities:545:1" rel="noopener">Bank Of Baroda (BOB IN)</a>, <a href="https://www.smartkarma.com/entities/cholamandalam-investment-and-finance" target="_blank" data-smartkarma-citation="entities:17583:1" rel="noopener">Cholamandalam Investment and Finance (CIFC IN)</a>, <a href="https://www.smartkarma.com/entities/jindal-steel-power-ltd" target="_blank" data-smartkarma-citation="entities:6614:1" rel="noopener">Jindal Steel &amp; Power (JSP IN)</a>, <a href="https://www.smartkarma.com/entities/pi-industries-ltd" target="_blank" data-smartkarma-citation="entities:6040:1" rel="noopener">Pi Industries (PI IN)</a> and <a href="https://www.smartkarma.com/entities/steel-authority-of-india" target="_blank" data-smartkarma-citation="entities:14323:1" rel="noopener">Steel Authority of India (SAIL IN)</a> will be included in the index, while <a href="https://www.smartkarma.com/entities/abbott-india-ltd" target="_blank" data-smartkarma-citation="entities:9687:1" rel="noopener">Abbott India (BOOT IN)</a>, <a href="https://www.smartkarma.com/entities/alkem-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:26928:1" rel="noopener">Alkem Laboratories Ltd (ALKEM IN)</a>, <a href="https://www.smartkarma.com/entities/mrf-ltd" target="_blank" data-smartkarma-citation="entities:2930:1" rel="noopener">Mrf Ltd (MRF IN)</a>, <a href="https://www.smartkarma.com/entities/petronet-lng-ltd" target="_blank" data-smartkarma-citation="entities:15235:1" rel="noopener">Petronet LNG (PLNG IN)</a> and <a href="https://www.smartkarma.com/entities/united-breweries-ltd" target="_blank" data-smartkarma-citation="entities:18080:1" rel="noopener">United Breweries (UBBL IN)</a> will be deleted from the index.</p><p>While the headline impact in terms of ADV looks low, a look at the impact compared to the delivery volumes paints a different picture.</p><p>There are a whole bunch of changes to constituents of other indices too. However, the assets tracking these indices are small and there will be negligible impact on the stocks.</p><p>There is an expansion of the index universe for the NIFTY indices with REITs and Infrastructure Investment Trusts (InvITs) becoming eligible for inclusion in the indices.</p>

Post market close on 23 August, the Index Maintenance Sub-Committee (IMSC) of NSE Indices announced the results of the September index review for the NIFTY family of indices. The rebalance will be effective after the close of trading on 29 September and passive funds will need to trade at the close (VWAP over the last 30 minutes of trading) on the day.There are no changes to the NIFTY Index (NIFTY INDEX), in line with what we expected.There are 5 changes to the NIFTY Next 50 Index. Bank Of Baroda (BOB IN), Cholamandalam Investment and Finance (CIFC IN), Jindal Steel &amp; Power (JSP IN), Pi Industries (PI IN) and Steel Authority of India (SAIL IN) will be included in the index, while Abbott India (BOOT IN), Alkem Laboratories Ltd (ALKEM IN), Mrf Ltd (MRF IN), Petronet LNG (PLNG IN) and United Breweries (UBBL IN) will be deleted from the index.While the headline impact in terms of ADV looks low, a look at the impact compared to the delivery volumes paints a different picture.There are a whole bunch of changes to constituents of other indices too. However, the assets tracking these indices are small and there will be negligible impact on the stocks.There is an expansion of the index universe for the NIFTY indices with REITs and Infrastructure Investment Trusts (InvITs) becoming eligible for inclusion in the indices.

NIFTY NEXT50 Index Rebalance: More Beneath The Surface

External broker reports(aggregated public sources), Geojit BNP Paribas

Geojit

<p>LNG demand is expected to grow further in fertilizer, refining and transport sectors. Petronet's overall performance is recovering to preCOVID levels. We remain positive on the stock with strong momentum in demand/volumes and healthy pipeline. Hence, we reiterate our BUY rating with a revised TP of Rs. 272 based on 12.0x FY23E adj. EPS. Strong performance supported by demand recovery Consolidated revenues for Q1FY22 grew 13.5% QoQ (+76.1% YoY) to Rs. 8,598cr with volumes maintained at 209 TBTU levels (vs.</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>

LNG demand is expected to grow further in fertilizer, refining and transport sectors. Petronet's overall performance is recovering to preCOVID levels. We remain positive on the stock with strong momentum in demand/volumes and healthy pipeline. Hence, we reiterate our BUY rating with a revised TP of Rs. 272 based on 12.0x FY23E adj. EPS. Strong performance supported by demand recovery Consolidated revenues for Q1FY22 grew 13.5% QoQ (+76.1% YoY) to Rs. 8,598cr with volumes maintained at 209 TBTU levels (vs.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.

Petronet LNG: Strong Quarter; Outlook Intact

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

ICICI Securities Limited

<p>Petronet LNG is India's leading play in import of LNG in the country and will be a beneficiary of the government's aim to increase the share of natural gas in the energy basket to 15% over the long term The 17.5 mmtpa Dahej terminal has been booked for 15.75 mmtpa under long term, thus providing visibility to long term volumes. Increase in Kochi terminal volumes on commissioning of Kochi-Mangalore pipeline...</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>

Petronet LNG is India's leading play in import of LNG in the country and will be a beneficiary of the government's aim to increase the share of natural gas in the energy basket to 15% over the long term The 17.5 mmtpa Dahej terminal has been booked for 15.75 mmtpa under long term, thus providing visibility to long term volumes. Increase in Kochi terminal volumes on commissioning of Kochi-Mangalore pipeline...
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.

Petronet LNG: Steady Performance; Expansion Plans Moderated

India

Mangalore Refinery and Petrochemicals Limited refines oil and produces petroleum and petrochemicals. The Company is a subsidiary of ONGC. Mangalore Refinery operates a refinery in Mangalore city that produces premium diesel and unleaded petrol of high octane.

Mangalore Refinery and Petrochemicals Limited (MRPL IN)

Mangalore Refinery and Petrochemicals Limited

Hindustan Petroleum Corporation Limited refines crude oil and manufactures petroleum and petroleum products. The Company's products, which are sold via outlets throughout India, include lube products, lubricating oil, aviation fuel, hydraulic brake fluid, greases, liquefied petroleum gas and insecticides. The Government of India is the majority shareholder in the company.

The Great Eastern Shipping Company Limited owns and operates cargo ships. The Company's fleet of vessels includes bulk carriers, tankers and offshore supply vessels. The Company also acts as an agent for a number of foreign shipping companies.

Chennai Petroleum Corporation Limited refines crude oil and markets petroleum and petrochemical products, including lube oil base stocks, aviation turbine fuel,  propane, propylene and polybutene feedstock.  The Group operates two refineries, the Cauvery Basin Refinery and the Manali Refinery.

Gujarat Mineral Development Corporation Limited is a Indian mining company, which specializes in lignite mining in the Gujarat area. The Company also invests in property.

Oil India Ltd. explores, develops, and produces crude oil and natural gas in India and internationally. The Company is also involved in the transportation of crude oil, production of liquefied petroleum gas, pipeline services, as well as various exploration and production related services.

Rain Industries Limited engages in the production of cement and other related products. The Company manufactures and markets cement, calcined petroleum coke, coal tar pitch, and specialty chemicals.

Hindustan Oil Exploration Company Limited is an oil exploration and production company. The Company has participating interest in nine oil and gas fields in India's Cambay basin, Cauvery basin, Assam Arakan basin and Rajasthan basin, which are in varying stages of exploration, development and production.

Hindustan Oil Exploration Company (HOE IN)

Reliance Industrial Infrastructure Ltd main activity is to own, maintain and operate two pipelines from BPCL's refinery in Bombay to Reliance Industry's petrochemical complex in Patalganga.  The pipeline carries petroleum feedstock.

Reliance Industrial Infrastructure (RIIL IN)

Essar Shipping Ltd. is an Indian shipping and logistics corporation with a focus on transportation solutions for the global energy business. The Company has a diversified fleet of vessels, including VLCCs, capesizes, Supramaxes, mini bulk carriers and tugs. Essar also provides contract drilling services to oil & gas companies across the globe as well as end-to-end logistics services.

S-Oil Corporation refines crude oil and sells petroleum and its related products.  The Company mainly focuses on petroleum refining, petrochemical, and lubricant business. S-Oil's major products are gasoline, bunker oil, kerosene, naphtha, lubricants, benzene, toluene, and xylene.

SM Energy Company is an independent energy company that explores for and produces natural gas and crude oil.  The Company's operations are focused on The ArkLaTex, Gulf Coast, Mid-Continent, Rocky Mountains, and Permian Basin regions.

Huolinhe Opencut Coal Industry Corporation Limited of Inner Mongolia is mainly involved in the production and selling of coal in China.

Huolinhe Opencut Coal Ind Corp Ltd. (002128 CH)

PT Adaro Energy Tbk is a coal mining company. The Company and its subsidiaries currently deal in coal mining and trade, coal infrastructure and logistics, and mining contractor services.

Shanxi Xishan Coal & Electricity Power Co., Ltd. mines and processes coal. The Company also generates electric power.

California Resources Corporation is an independent oil and natural gas company. The Company focuses on maximizing the value of land, mineral and technical resources for decarbonization by developing carbon capture and storage and other emissions reducing projects. California Resources serves customers in the State of California.

Guanghui Energy Co., Ltd. is principally engaged in energy development, automotive services and real estate property leasing. The Company is in the business of coal mining and related coal chemical manufacturing. The Company is also engaged in the processing and distributing of granite materials and trading of general merchandise such as plastic doors and windows.

Shanxi Lu'an Environmental Energy Development Co., Ltd. mines, processes, and markets low sulfur high quality coal. The company also researches and develops coal and environment protection related technologies.

Shanxi Lu'An Environmental Energy Dev.Co (601699 CH)

PDC Energy, Inc. produces and distributes petroleum products. The Company produces, develops, explores and markets crude oil, natural gas, and natural gas liquids. PDC Energy operates in the United States.

Whitehaven Coal Limited mines and sells metallurgical and thermal coals to the global steel, power generation, and metallurgical industries.

Petronet LNG Ltd. was formed by the Government of India to import liquefied natural gas (LNG) into the country. The Company is a joint venture between GAIL, ONGC, IOC and BPCL. Petronet LNG has also selected GAZ de France as a strategic partner. The Company has set up LNG receiving ports in Dahej (Gujarat) and Kochi (Kerala).

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Petronet LNG (PLNG IN)

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

HSIE Results Daily: PGCIL, Petronet LNG, Max Financial, Birla Corporation, CreditAccess Grameen,...

CreditAccess Grameen: CreditAccess Grameen's (CREDAG) Q2FY22 earnings beat our estimates, led by healthy NII traction and asset quality...

HDFC Securities

NIFTY NEXT50 Index Rebalance: More Beneath The Surface

There are 5 changes to the NIFTY Next 50 Index that will be implemented at the close on 29 September. The impact is quite large compared to the...

Brian Freitas

Petronet LNG: Strong Quarter; Outlook Intact

LNG demand is expected to grow further in fertilizer, refining and transport sectors. Petronet's overall performance is recovering to preCOVID...

Geojit

Petronet LNG: Steady Performance; Expansion Plans Moderated

Petronet LNG is India's leading play in import of LNG in the country and will be a beneficiary of the government's aim to increase the share of...

ICICI Securities Limited

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