Vatsala Kamat
Livemint
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Past articles by Vatsala:
Will the rally in cement stocks sustain given challenges to demand growth?
In the Q4 results analysts’ call, most cement firms indicated a quick ramp up in utilisation levels, since the lockdown was eased.The commentary by most cement firms on outlook for fiscal 2021, was cautious → Read More
Escorts ploughs healthy Q4 profit as tractor sales ease pain in other segments
Robust outlook for farm equipment sales in next quarters will aid earnings expansion and stock price.The complete lockdown from April and its impact on supply chain and demand will hurt June quarter performance → Read More
Most vehicle makers drew a blank in April; M&M scored with some tractor sales
Investors have been worried about widening losses at Mahindra’s subsidiaries (especially Ssangyong Motor Corporation) and the consequent need for more investments.Mahindra and Mahindra Ltd (M&M) managed to sell 4,716 farm equipment vehicles in the domestic markets → Read More
Lockdown hits infra firms as execution stalls, toll revenue dips
Crisil Ratings sees a 12.5% drop in traffic, 8.5% fall in toll revenue for FY21 even if toll rates rise 4% and economy revives.The problem extends beyond lockdown for infra firms given the challenge of mobilizing migrant workers → Read More
Cummins India’s valuation takes a hit as rising other income shows weak biz
Power generation business, which comprises 25-30% of revenue, had posted 12% sales drop from a year ago in Dec quarter.The management did not give any guidance in the recent update, but had forecast a 20% drop in FY20 exports after the Q3 results → Read More
Capital goods get coronavirus shock when capex is already at cyclical low
Lockdown, high fixed costs and payment delays to stress the sector’s working capital cycle.Human element of the pandemic is likely to take government focus away from infrastructure spend → Read More
Will India’s real estate prices finally face a reality check now?
The covid-19 lockdown further threatens the housing sector that has already seen a rise in unsold inventory of houses across leading cities in the country.Anarock Property Consultants expects an annual decline of 25-35% in home sales (top seven cities) in 2020 → Read More
Lemon Tree’s performance looks decent against pessimism in stock price
Notwithstanding all this, the company’s December quarter results show it is reaping the fruits of consolidation.Net revenue at ₹199.6 crore was nearly 40% higher year-on-year → Read More
M&M’s Korean links prove costly as Street ignores domestic show
M&M stock plunged on worries about mounting losses at SsangYong that hit consolidated profits.Auto segment faces near-term risks of stiff competition and BS-VI linked demand uncertainty → Read More
Market share, margin gains crucial to propel Hero’s stock valuations
Q3 margin beat came from better sales realizations and cost-cutting measures.Hero Motocorp’s one-year forward stock valuation tails that of peers such as Bajaj Auto, TVS Motor → Read More
DLF Q3: Home sales stable, inventory drops; but rise in debt a dampener
Even in the residential segment, DLF’s unsold units are down to ₹9,415 crore from ₹10,100 crore in Q2. Sales booking is improving with every quarter.During the decade from 2009 to 2018, surging debt was a bane for DLF → Read More
Godrej Properties rallies as debt falls
Godrej Properties also contained expenses as there were hardly any launches during the quarter and therefore outflows towards project-linked approvals were also lower.The focus was on completion of existing projects → Read More
Cost cuts and better realizations save the day for UltraTech Cement
Lower cost of energy and logistics helped Ebitda per tonne rise by about 29% in Q3.Premiumization of acquired brands, synergistic operations hold promise for future profit growth → Read More
As more foreign tourists check in, the hotels sector may get to cash in
The festive mood and holidays in October and November also spiked domestic leisure travel.The operating margins of hotel firms are likely to be chequered → Read More
Why BS-VI transition could hurt Hero Motocorp more than Bajaj Auto and TVS
Hero Motocorp’s stock trades at 14 times its one-year forward estimated earnings.Bajaj Auto Ltd and TVS Motor Company Ltd trade at 18 and 25 times, respectively. → Read More
Tata Motors, Motherson stocks up on Johnson’s victory, but Brexit test begins now
The actual impact would be known after the December 2020 deadline when the UK formally exits the European Union.Tata Motors’ shares have rallied 62% from the 52-week low on September 4 → Read More
Muted demand, costlier BS-VI models keep outlook for two-wheelers hazy
Some dealers are hopeful that high-priced BS-VI models may lead to pre-buying in price-sensitive segments.Even as two-wheeler OEMs ride into the new year with some BS-VI launches, demand outlook is uncertain → Read More
Why investors are back in listed realty firms amid gloom in sector
Some listed firms have advantage of diversifying into commercial property, which is on an uptrend for last three years.Investors would do well to keep a watch on sustained sales rise and pace of project completion → Read More
Infra stocks’ rally on news of govt sops is much ado about nothing
Shares of IRB Infrastructure Ltd vaulted 11.5% while those of NCC Ltd, Ashoka Buildcon Ltd and Dilip Buildcon Ltd surged 7.5%, 3.4% and 2.8%, respectively → Read More
Siemens Q2 results disappoint as margins and new orders drop
Siemens AG posted weak operating performance for the quarter.A segment-wise analysis showed the two key businesses of gas and power, and smart infrastructure reported a revenue drop → Read More