Motilal Oswal - MOSL: Morning India (10/October/18): 1. India Strategy - 2QFY19 Preview (Correction everywhere); 2. Tata Motors (JLRâ€™s wholesale of 53k units (-8% YoY) exceeds estimate); 3. Voltas (Takeaways from review of Vol

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Motilal Oswal

Team Research

MOSL: Morning India (10/October/18): 1. India Strategy - 2QFY19 Preview (Correction everywhere); 2. Tata Motors (JLRâ€™s wholesale of 53k units (-8% YoY) exceeds estimate); 3. Voltas (Takeaways from review of Vol

MOrning India (10/October/18): 1. India Strategy - 2QFY19 Preview (Correction everywhere); 2. Tata Motors (JLR’s wholesale of 53k units (-8% YoY) exceeds estimate); 3. Voltas (Takeaways from review of Voltas Beko products)

Today’s top research theme

India Strategy (2QFY19 Preview) - Correction everywhere

The 2QFY19 earnings-report season is likely to mirror the trend of the previous quarter, albeit with a reduced impact of a favorable base.

We expect MOSL Universe PAT to grow 9% YoY. Global Cyclicals are likely to drive performance for the second straight quarter (with 23% YoY profit growth) and account for 81% of incremental profits. Defensives are expected to post muted profit growth of 7%, aided by IT/Consumer but dragged by Healthcare. Auto, Telecom, PSU Banks, Healthcare and Cement are expected to report muted numbers.
We expect Nifty sales, EBITDA and PAT to increase by 24%, 12% and 12%.
Our Nifty EPS estimates for FY19/20 have been cut by 1.5%/2% to INR539/INR674.

Top ideas in this correction

LARGE-CAPS: HDFC, ICICI BANK, AXIS BANK, MARUTI, HINDALCO, ASHOK LEYLAND, TECH MAHINDRA, L&T, TITAN, BRITANNIA
MID-CAPS: RBL, SHTF, MINDTREE, EXIDE, TEAMLEASE

Piping hot news

RBI to inject Rs 12,000 crore into system on Oct 11 to manage liquidity

The Reserve Bank on Tuesday announced it will inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet the festival season demand for funds. The government will purchase bonds with maturity ranging between 2020 to 2030, the RBI said in a statement.

10/10/2018 26 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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MOSL: Morning India (10/October/18): 1. India Strategy - 2QFY19 Preview (Correction everywhere); 2. Tata Motors (JLRâ€™s wholesale of 53k units (-8% YoY) exceeds estimate); 3. Voltas (Takeaways from review of Vol

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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