External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

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

<p>Torrent Power: Torrent Power (TPW) reported strong Q3FY22 result, surpassing consensus estimate. Consolidated revenue increased 27.6% YoY to INR 37.7bn, largely led by higher merchant sales, lower T&amp;D losses, and gain from sale of LNG. This led to EBITDA rising 7.3% YoY to INR9.3bn. Deleveraging and a fall in interest rates have led to lower interest expenses. PAT increased by 14.8% YoY to INR3.7bn, surpassing ours and consensus estimates. While PLF across its gas-based stations has declined due to rise in LNG prices, TPW has managed to maintain its PAF, ensuring recovery of fixed charges.</p><div><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>

Torrent Power: Torrent Power (TPW) reported strong Q3FY22 result, surpassing consensus estimate. Consolidated revenue increased 27.6% YoY to INR 37.7bn, largely led by higher merchant sales, lower T&amp;D losses, and gain from sale of LNG. This led to EBITDA rising 7.3% YoY to INR9.3bn. Deleveraging and a fall in interest rates have led to lower interest expenses. PAT increased by 14.8% YoY to INR3.7bn, surpassing ours and consensus estimates. While PLF across its gas-based stations has declined due to rise in LNG prices, TPW has managed to maintain its PAF, ensuring recovery of fixed charges.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.

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