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