EUR 120.00 For Business Accounts Only

MOSL: Morning India (4/August/21): 1. Dabur (Beat on all fronts; future outlook ‘healthy’); 2. Bharti Airtel; 3. Tata Consumer; 4. Punjab National Bank; 5. Castrol; 6. IIFL Wealth; 7. NOCIL; 8. EcoScope (a. Equ

MOrning India (4/August/21): 1. Dabur (Beat on all fronts; future outlook ‘healthy’); 2. Bharti Airtel; 3. Tata Consumer; 4. Punjab National Bank; 5. Castrol; 6. IIFL Wealth; 7. NOCIL; 8. EcoScope (a. Equity Note; b. Monsoon Weekly)

Today’s top research idea

Dabur: Beat on all fronts; future outlook ‘healthy’

• DABUR's 1QFY22 result came in above our expectations on all fronts. The management's confidence on: a) double-digit sales growth prospects for FY22, despite a challenging base for the Healthcare business in the remaining quarters, and b) target of maintaining or growing FY22 EBITDA margin YoY, despite the ongoing rise in material costs, is encouraging.
• The management's initiatives in the last two years of: a) a spate of new launches, b) sharp increase in advertising spends, c) continued expansion in distribution, d) investment in technology and Analytics, and e) cost saving efforts plowed back into the business for growth has set DABUR on the right path towards a much stronger topline and earnings growth trajectory, commensurate with the inherent potential in its Healthcare, Foods, and HPC businesses.

Piping hot news

Changes to insolvency law approved by Rajya Sabha

A bill to amend the Insolvency and Bankruptcy Code paving the way for pre-packaged insolvency resolution for small and medium enterprises recieved Parliament's nod on Tuesday. "Prepack is cost effective and time barred and therefore very suitable for MSME," finance minister Nirmala Sitharaman said responding to the discussion on the bill in the upper house, which was passed by voice vote in din amid protests from opposition members over snooping issue and farm laws. Sitharaman said that this a bill coming while keeping situation in mind that MSMEs require a lot of help post the pandemic.