MOSL: Morning India (6/April/17)-1. Dewan Housing Finance-2. Utilities-3. Financials-4. Media; 5. Titan Company; 6. JSW Energy
​MOrning India (6/April/17): 1. Dewan Housing Finance; 2. Utilities; 3. Financials; 4. Media; 5. Titan Company; 6. JSW Energy
Today’s top research idea
Titan Company: Significant recovery in demand in 4QFY17; Good sales across divisions
The company has mentioned that FY17 was an exceptional year, though it was struggling for growth in 1HFY17 due to low consumer demand and impact of industry strike related to imposition of excise. 2HFY17 was much better than the company had expected despite demonetization, as consumer demand recovered significantly and sales were healthy across divisions.
Jewelry division had a very good quarter, led by studded jewelry activation and favorable base. Tanishq saw retail growth that was 40% higher than company’s expectation at the beginning of 4QFY17.
Watches and eyewear business too saw good sales growth this quarter.
Company expects good sales as well as margin performance (led by gross margin expansion and cost control) in 4QFY17.
TTAN is targeting high-teens revenue growth for FY18.Â
Piping hot news
Nitin Gadkari eyes 41 km a day in FY18
The Nitin Gadkari-led ministry of road transport and highways’ (MoRTH) steps to boost highway construction have yielded results, with the pace of highway construction reaching an all-time high of 23 km a day in 2016-17, up from 16.61 km a day in 2015-16.
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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