Daily Brief India: Bharti Hexacom, Kilburn Engineering, Vedanta Resources, Shimao Property Holdings and more

• Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO in Apr 2024. Its IPO lockup is set to expire soon.
• Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the Northeast.
• In this note, we will talk about the lockup dynamics and possible placement.

• Kilburn Engineering (KEL IN) acquired new assets, expanded into waste heat recovery, and enhanced its market position with acquisitions in July and August 2024.
• Debt settlement, 2 Fundraise, 2 Mega acquisition, diversification of revenue and margin improvement are some key positives for Kilburn.
• Rs. 371Cr of Order Book, FY25E Revenue of Rs. 500Cr Revenue leads to 60% revenue growth and expecting margins of 20% will lead to huge potential for this company.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Vedanta Resources

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Lippo Karawaci