Stock Market Latest News

2022-01-26 23:11:09 *Federal Reserve Keeps Fed Funds Range Unchanged at 0.00% to 0.25% Open / Comment

2022-01-26 23:11:09 NATO'S STOLTENBERG SAYS TENSIONS ARE INCREASING Open / Comment

2022-01-26 23:11:09 ECB WARNS EUROPEAN LENDERS ON RUSSIA SANCTIONS RISK - FT Open / Comment

2022-01-26 17:54:46 CLSA on CIPLA

BUY

TP Rs1150

In-line qtr

Strong India and US sales offset weak international sales

We believe 20x FY24 PE valuations are attractive, given Cipla’s long-term growth prospects

We tweak estimates following 3QFY22 results Open / Comment

2022-01-26 17:54:45 CLSA on Torrent Pharma

Downgrade to O-PF from BUY

TP cut to Rs3550 from 3850

Multiple factors drive margin miss
Export recovery is delayed

India sales growth of 15% YoY remained solid but US and EU sales were well below our estimates
7-10% EPS cuts in FY22-24CL Open / Comment

2022-01-26 17:54:45 CLSA initiates coverage on Fino Payment Bank

BUY
TP Rs480

The bank for rural India

Fino is a capital-light business that largely relies on fees for revenue and has significant operating leverage

Expect a 22% revenue Cagr in FY21-24, leading to PAT rising from Rs0.2bn in FY21

to Rs1.5bn by FY24
Diverse product offerings
Asset light model - Significant operating leverage

Profit margins of 4-11% expected in FY22-24

Expect an opex Cagr of 19% in FY21-24 with overhead expense growing at only an 11% Cagr versus 22% top-line growth for the same period Open / Comment

2022-01-26 17:54:45 CLSA on Maruti

SELL

TP Rs6440 from Rs6420

Cost control led to positive surprise
Positive surprise led by lower impact from RM costs

Near-term volume trajectory will improve sequentially due to its pending order-book and chip shortages easing

Maruti to lose 200bps of market share in the domestic PV industry due to lower market share in the SUV segment

Recent headwinds in the form of tighter safety norms could also hurt Maruti’s market share in 2HFY23/FY24 Open / Comment

2022-01-26 17:54:45 Jefferies on Maruti

BUY

TP Rs10500 from Rs9250

Start of Good Times
3Q EBITDA rose 82% QoQ (5% above JEFe)

EBITDA margin improved 250bp QoQ after four consecutive quarters of decline

We see better times for MSIL ahead given strong demand recovery, easing chip constraints, Open / Comment

2022-01-26 16:49:14 The acquisition will mark JBCPL’s entry into the fast-growing probiotics, therapeutic nutraceuticals and reproductive health market with attractive set
of brands

• JB Chemicals will be amongst the top five probiotics players in the country, in a segment which is growing at around 12 -14%. This category creates synergies with its strong prescriber base in gastroenterology and nephrology segments.

• Leading brands like Sporlac, Lobun, Oxalo, Pubergen, Nano-leo and Gynogen will now be part of the JBCPL franchise Open / Comment

2022-01-26 16:49:14 JB CHEMICALS & PHARMA

J.B. CHEMICALS TO ACQUIRE BRANDS FROM SANZYME, A LEADING PLAYER IN THE PROBIOTICS SEGMENT FOR A TRANSACTION VALUE OF ₹628 CR Open / Comment