Motilal Oswal - MOSL: Morning India (30/July/18): 1. Reliance Industries; 2. ICICI Bank; 3. Bharti Airtel; 4. HCL Tech; 5. Zensar Tech.; 6. NTPC; 7. Biocon; 8. Bank of Baroda; 9. Container Corp; 10. MM Fin. Serv

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Motilal Oswal

Team Research

MOSL: Morning India (30/July/18): 1. Reliance Industries; 2. ICICI Bank; 3. Bharti Airtel; 4. HCL Tech; 5. Zensar Tech.; 6. NTPC; 7. Biocon; 8. Bank of Baroda; 9. Container Corp; 10. M&M Fin. Serv

MOrning India (30/July/18): 1. Reliance Industries; 2. ICICI Bank; 3. Bharti Airtel; 4. HCL Tech; 5. Zensar Tech.; 6. NTPC; 7. Biocon; 8. Bank of Baroda; 9. Container Corp; 10. M&M Fin. Serv

Today’s top research idea

Reliance Industries: Petchem drives standalone profitability; RJio surprises again

Reliance Industries 1QFY19 standalone EBITDA increased 31% YoY (+13% QoQ) to INR152b led by a superior petchem performance. GRM stood at USD10.5/bbl and throughput at 16.6mmt.
Standalone PAT grew 8% YoY (+1% QoQ) to INR88b, impacted by higher interest cost of INR21b. Consolidated EBITDA of INR207b (+65% YoY, +12% QoQ) exceeded our estimate, driven by RJio and retail operational performance. Consolidated PAT grew 4% YoY (flat QoQ) to INR95b, impacted by higher interest cost of INR36b (+217% YoY, +38% QoQ) and lower other income of INR18b (-45% YoY, -19% QoQ).
We value RIL at INR1,301/share using SOTP and reiterate our Buy rating for the stock.

Piping hot news

After pulling out funds in June, FPIs net inflow at Rs 18 bn in July so far

Foreign investors have put in over Rs 18 billion in the Indian equity markets so far in July after pulling out massive funds in the preceding month. The latest inflow comes after such investors had taken out more than Rs 200 billion from the stock market during April-June. According to the latest depository data, foreign portfolio investors (FPIs) pumped in a net sum of Rs 18.48 billion in equities during July 2-27. However, they withdrew Rs 4.82 billion from the debt market during the period under review.

30/07/2018 60 EN

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MOSL: Morning India (30/July/18): 1. Reliance Industries; 2. ICICI Bank; 3. Bharti Airtel; 4. HCL Tech; 5. Zensar Tech.; 6. NTPC; 7. Biocon; 8. Bank of Baroda; 9. Container Corp; 10. M&M Fin. Serv

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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