Motilal Oswal - MOSL: Morning India (6/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. India Electricals (EESL order tracker)

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MOSL: Morning India (6/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. India Electricals (EESL order tracker)

â€‹MOrning India (6/September/17): 1. AGIC: CEO Track Takeaways; 2. AGIC: Management Says; 3. India Electricals (EESL order tracker)

Todayâ€™s top research idea

Hindalco: Remains focused on delivering stakeholder value

We hosted Mr Satish Pai, MD of Hindalco Industries, as part of â€˜CEO Trackâ€™ at our annual conference. Key takeaways:

â€‹Business model has become robust, with cost leadership and stability in Indian upstream operations, leadership in global downstream operations, and strengthened B/S.
Superior technology selection for smelters helped it achieve stable operations.
Novelis will continue expanding in auto space, where it enjoys global leadership in supplying flat rolled products. Expect new investments in US/China. Pricing pressure in can business has eased. Electric vehicles should accelerate light weighting of vehicles, driving aluminum demand.
Continues focusing on deleveraging and allocation of capital in downstream (less capital-intensive); pre-paid INR78b debt, plans to prepay another INR30b in FY18.
Focus on deleveraging, operational excellence, customer centricity and cash conservation to deliver stakeholder value.

06/09/2017 34 EN

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MOSL: Morning India (6/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. India Electricals (EESL order tracker)

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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