Indian Equity Research and Investment Strategy
JP Morgan hosted a Conference with 11 financial institutions and here is an excerpt from the same.
Rise in Credit Demand – Credit demand is slowly improving, driven by higher sanctions in infrastructure, along with mortgage and auto loans. Expectations are for ~15-16% credit growth for FY10 and ~20% in FY11. Increased credit offtake should not impact lending rates. (more…)
Lupin has received FDA approval for four strengths of generic Lotrel (amlodipine and benazepril combination). Lotrel, a Novartis product, is protected by one OB listed patent – ‘802, expiry in Dec’17. At that time, the Lotrel market size was roughly $1.4 bln.
Generic Lotrel is clearly a lucrative product for Lupin, where the upside will depend on the timing of launches by other players. For Lupin Labs, Morgan Analyst assumes $40 mln sales for Lupin in F11 (based on a five (more…)
Here is the outlook of Indian Equity Market by Analysts of HDFC Bank’s Private Wealth Management Group – largely in-line with other fund managers of the HDFC Group [ Mutual Fund and Insurance]
India’s overall growth remains robust led by a strong performance in the Manufacturing and Services segment due to visible improvements in the consumption demand. India remains amongst the fastest growing economies globally inspite of lingering concerns on the global front. Q3FY10 results came on expected lines with no major surprises. Union Budget & International events is likely to provide further direction to the markets. (more…)
India is the world’s largest milk producer, at 112mn tonnes currently. However, drought conditions, tighter feed and water availability have resulted in only a moderate growth in output; while demand has continued to rise due to shifting food patterns.
The key drivers of the upturn in India’s inflation so far have been primary articles (cereals, pulses) and manufactured food products (sugar, edible oil cakes). While we have highlighted the risk of higher (more…)
Here is a study to compare the market value of listed investments of companies with their own market capitalisations. The objective is to identify stocks where the capitalisation of holding companies may have lagged the increase in value of listed investments. The analysis also ignores factors like holding company discounts, liquidity issues, etc
There could be other issues (liquidity, large debt, operational issues to name a few) which may have led to a company trading at a discount to value of investments (more…)
The Kirit Parekh report suggests the government to deregulate gasoline and diesel prices, increase kerosene price by Rs6/lit and raise it every year, and increase LPG prices by Rs100/cylinder and revise upward periodically. These suggestions are largely in line with the recommendations of earlier committees. We believe the suggestions are likely too aggressive to be implemented in current form, given inflation concerns, implementation issues and political considerations. (more…)