MOSL: Morning India (17/July/17)-1. Infosys (1QFY18)-2. Vedanta-3. UltraTech Cement-4. DCB Bank-5. Grasim Industries-6. EcoKnowledge
​MOrning India (17/July/17): 1. Infosys (1QFY18); 2. Vedanta; 3. UltraTech Cement; 4. DCB Bank; 5. Grasim Industries; 6. EcoKnowledge
Today’s top research idea
Infosys: On course to meet guidance amid strong execution
INFO's 1QFY18 revenues and operating margins came in marginally ahead of expectations, putting it on track to achieve the full-year guidance (6.5-8.5% YoY CC revenue growth at 23-25% EBIT margin).
Nearly half of INFO's USD2b incremental revenues since 1QFY15 have come from service which did not exist prior to that - an indicator of the company's steadfast approach toward the new areas. Overall revenues from Digital stand at 23% (based on peers' classification), again substantiating INFO's industry-matching/bettering capabilities in the new areas.
We estimate 7.0% YoY CC revenue growth, at the lower half of the guided band, given: [1] ask rate of 2.5% for the remainder of the year to reach the midpoint (including seasonally weak 2H) and [2] expectation of gradual recovery in BFSI demand baked into the guidance, but the secular trend is yet to manifest itself.
Piping hot news
Monsoon session of Parliament: From banking, Nabard to SBI, here is all that is on the agenda
Although the monsoon session of Parliament could be dominated by issues of cow vigilantism, farmers’ protests, unrest in Kashmir and India’s stand-off with China, it could nonetheless be a productive one for business and financial matters.
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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