In today’s briefing:
- Emart Announces A Major Share Buyback Program
- India Autos | Q3 Review and Channel Map – Escorts, Mahindra & Mahindra
- Company Update | Crompton Greaves Consumer Electricals
- Mbm Resources (MBMR.KL) – Fy21 Results Were Above Expectation
Emart Announces A Major Share Buyback Program
- On 25 February, E Mart Inc (139480 KS) announced that it will buy back 1 million shares, representing 3.6% of its outstanding shares. Currently, Emart has 87,464 treasury shares.
- We believe Emart’s share price is well positioned to continue to outperform the market in the next several months, driven by the large buyback program.
- Emart is currently trading at 0.4x P/B (38% lower than the historical valuation multiples). One could argue that Emart is valued at an excessive discount to the historical valuations.
India Autos | Q3 Review and Channel Map – Escorts, Mahindra & Mahindra
- We analyze Q3 FY22 results for Escorts Ltd (ESC IN) & Mahindra & Mahindra (MM IN) with a primary focus on farm equipment (Tractor) divisions.
- High base, price increases and a move to support dealers indicate muted volumes ahead for Escorts Ltd (ESC IN).
- For Mahindra & Mahindra (MM IN), valuations are compelling, auto volumes are good, but recovery in farm equipment remains the key catalyst for outperformance.
Company Update | Crompton Greaves Consumer Electricals
- Acquisition of Butterfly Gandhimathi Appliances Ltd.
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.
Mbm Resources (MBMR.KL) – Fy21 Results Were Above Expectation
- U/G to BUY, TP lifted to MYR4.00
- Spectacular 4Q21 performance; 15 sen DPS
- Raise FY22-23 earnings; the Perodua push factor
- Undemanding valuations, attractive dividend appeal
Before it’s here, it’s on Smartkarma
