Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>Net revenue came in at Rs1,772.9bn vs NBIE estimate of Rs2,071.6bn and a 9% miss vs street; it was up 43.3% YoY.</li></ul><div><div><div><div><ul><li>EBITDA stood at Rs116.3bn vs. NBIE estimate of Rs121.8bn and 2.9% miss vs street; it was down 13.8% YoY.</li></ul><div><div><div><div><ul><li>4QFY22 Petchem segment performance was also under pressure – segment revenue was up from Rs63.82bn in 4QFY21 to Rs80</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><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></p>

Net revenue came in at Rs1,772.9bn vs NBIE estimate of Rs2,071.6bn and a 9% miss vs street; it was up 43.3% YoY.EBITDA stood at Rs116.3bn vs. NBIE estimate of Rs121.8bn and 2.9% miss vs street; it was down 13.8% YoY.4QFY22 Petchem segment performance was also under pressure – segment revenue was up from Rs63.82bn in 4QFY21 to Rs80Content 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.

IOC- Refining Gain Offset by Marketing Pain

Indian Oil Corp

IOC- Refining Gain Offset by Marketing Pain