Daily Brief India: GMR Airports Infrastructure, Bharti Hexacom, Dr. Reddy's Laboratories and more

In today’s briefing:

GMR Airports Infra (GMRI IN): Flying High
Bharti Hexacom Pre-IPO – The Positives – Earnings Have Been Recovering Well
Dr. Reddy’s Laboratories (DRRD IN): US and Europe Drive Highest Ever Sales in Q3; Profit Surges 11%

GMR Airports Infra (GMRI IN): Flying High

At the last close, GMR Airports Infrastructure (GMRI IN) has a market cap of US$6.23bn and a free float market cap of US$2.48bn.
Passive global trackers are estimated to need to buy 223.33m shares (US$230m; 4.4x ADV) of GMR Airports Infrastructure (GMRI IN) at the close on 29 February.
GQG Partners (GQG AU) has been a big buyer since December and holds 4.98% of the company. The stock could run up for a few more weeks.

Bharti Hexacom is looking to raise up to US$1bn in its upcoming India IPO.
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 North East telecommunication circles in India.
In this note, we talk about the positive aspects of the deal.

In Q3FY24, Dr. Reddy’s Laboratories (DRRD IN) posted highest ever revenue of INR72B, led by U.S. and Europe generics businesses, with contribution from both base business and new product launches.
Underperformance in the domestic market continued in Q3FY24. However, the company’s initiatives regarding innovative and new generic drugs for Indian market should place it for long-term accelerated growth.
Last month, Dr. Reddy’s acquired MenoLabs, a leading women’s health and dietary supplement branded portfolio of seven products designed to provide health support and address symptoms of perimenopause and menopause.

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