Thu, Feb 1, 2024 8:52 PM
Auto, defence, other stocks unimpressed by moderate budget allocations
A Flip by Avya Verma
Cipla's Q2FY25 EBITDA was in line with estimates, despite muted sales growth in India and the US due to seasonality and supply issues. The company's US sales are expected to dip in Q3, but recover in Q4, driven by key launches and market share gains. The stock is trading at 23x FY26E EPS, with a revised target price of Rs1,615/share and an "Accumulate" rating.
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Multibagger IPO: Motisons Jewellers, listed on BSE and NSE, has delivered remarkable returns to its investors, soaring over 400 per cent in less than a year after its market debut. The stock, which listed at a 98 per cent premium on NSE and 89 per cent premium on BSE in December 2023, has rallied 419.5 per cent to ₹285.75 (previous close) over its IPO price of ₹55.
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Prabhudas Lilladher's research report on Bharti Airtel. Bharti Airtel reported an EBITDA of Rs218bn (+10.9%QoQ; PLe: Rs217.1bn, BBGe: Rs217.6bn). Adj PAT came in at Rs44.5bn (up 29.8% QoQ; PLe: Rs38.8bn, BBGe: Rs43.9bn). India mobile revenues were up 10.3%QoQ with a stable EBITDA margin of 57.1%. ARPU improved QoQ to Rs233 with a net subscriber loss of 2.9mn in Q2.
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