CLSA reiterates its buy rating on Bahrti Airtel with a target price of Rs 390 per share. The brokerage has upgraded its FY15/17CL EBITDA by 1 percent to a robust 12 percent CAGR over FY14-17CL and profit by higher 8-11 percent. Though 4G launch by Reliance Jio is a risk, CLSA feels Bharti is placed incumbent with the highest spectrum and backbone of hefty cashflows and hence sees it as a long-term winner. Religare sounds cautious as Bharti’s weak Africa performance remained a drag on overall growth and capped EBITDA upgrades.
FMCG major Marico will announce its fourth quarter (January-March) earnings today. According to CNBC-TV18 poll estimates, analysts expect profit after tax of the company to fall 5.4 percent year-on-year to Rs 79 crore while total income from operations may increase 5.6 percent to Rs 1,054 crore for the quarter. Operating profit is expected to increase 11.7 percent to Rs 134 crore and margin may expand 70 basis points to 12.7 percent in the quarter gone by. Copra prices (raw material for its coconut oil) have witnessed around 62 percent Y-o-Y increase during the quarter and advertising spends are likely to remain at elevated level to support new launches like hair colour.
The sharemarket is surging ahead boosted by rally in banking, oil & gas and auto stocks. The Sensex is up 209.21 points at 22675.40 and the Nifty is up 61.75 points at 6777.00. About 1309 shares have advanced, 731 shares declined, and 103 shares are unchanged.
In the seventh phase of the Lok Sabha elections on April 30, voting began across 89 seats in seven states and two Union Territories on Wednesday. All 26 seats in Gujarat, 13 in Punjab and 17 in the Telangana region of Andhra Pradesh are voting along with 46 other constituencies.
A total of 1,295 candidates are in the fray and their fates will be decided by 13,96,04,510 eligible voters. The rupee is higher against the greenback on positive market sentiment and tracking positive local share indices. However, some caution expected before the US FOMC policy meet outcome due later today. Gilts are trading slightly up on expectation of strong demand at Friday’s auction. Players also build positions in anticipation of stable government post election results.
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Sensex, Nifty rally on LS polls phase 7- Bank Nifty up 1%
FMCG major Marico will announce its fourth quarter (January-March) earnings today. According to CNBC-TV18 poll estimates, analysts expect profit after tax of the company to fall 5.4 percent year-on-year to Rs 79 crore while total income from operations may increase 5.6 percent to Rs 1,054 crore for the quarter. Operating profit is expected to increase 11.7 percent to Rs 134 crore and margin may expand 70 basis points to 12.7 percent in the quarter gone by. Copra prices (raw material for its coconut oil) have witnessed around 62 percent Y-o-Y increase during the quarter and advertising spends are likely to remain at elevated level to support new launches like hair colour.
The sharemarket is surging ahead boosted by rally in banking, oil & gas and auto stocks. The Sensex is up 209.21 points at 22675.40 and the Nifty is up 61.75 points at 6777.00. About 1309 shares have advanced, 731 shares declined, and 103 shares are unchanged.
In the seventh phase of the Lok Sabha elections on April 30, voting began across 89 seats in seven states and two Union Territories on Wednesday. All 26 seats in Gujarat, 13 in Punjab and 17 in the Telangana region of Andhra Pradesh are voting along with 46 other constituencies.
A total of 1,295 candidates are in the fray and their fates will be decided by 13,96,04,510 eligible voters. The rupee is higher against the greenback on positive market sentiment and tracking positive local share indices. However, some caution expected before the US FOMC policy meet outcome due later today. Gilts are trading slightly up on expectation of strong demand at Friday’s auction. Players also build positions in anticipation of stable government post election results.
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