MOSL: Morning India (11/June/18): 1. Consumer (Consumption demand set to pick up in FY19); 2. Sun Pharma (Halol resolution in sight); 3. Tata Motors; 4. Fuel Or Engines (Economy)
MOrning India (11/June/18): 1. Consumer (Consumption demand set to pick up in FY19); 2. Sun Pharma (Halol resolution in sight); 3. Tata Motors; 4. Fuel Or Engines (Economy)
Today’s top research theme
Consumer: Consumption demand set to pick up in FY19; HUVR, TTAN, BRIT, PAG remain our top picks
- 4QFY18 results for Consumer/retail companies under coverage were largely in line with expectations. The outstanding performers for the quarter were HUVR, PAGE, TITAN and UBBL. Visibility on growth is also high for these companies going forward.
- Disappointment (albeit marginal) on earnings in 4QFY18 came from Marico, Emami (HMN), Future Consumer (FCL) and P&GHH. BRIT reported in line numbers and outlook remains robust. Two themes are emerging in the Consumer space (a) outlook on rural is improving quarter after quarter which augurs very well for companies with high rural exposure or incrementally high rural growth and (b) Titan and Pidilite are emerging as early and likely significant beneficiaries of GST implementation.
- Our top picks taking all of these factors into account are HUVR, Titan, BRIT and PAGE.
Piping hot news
6 more state-run banks may come under PCA
- Six more state-run banks are at risk of entering the Reserve Bank of India’s prompt corrective action (PCA) framework, officials said. These include Punjab National Bank, Union Bank of India and Syndicate Bank, they said, adding that this may reduce the chances of the finance ministry’s plans to sell the good loans of weak banks to stronger lenders coming to fruition.
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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