Other Reports

Thursday, February 1, 2024

Union Budget Review FY24-25

The Government’s fiscal deficit target for FY2024-25 is set at 5.1%, which was better than market expectations of 5.3%. The Government further reinforced its target to reach fiscal deficit levels of below 4.5% by 2025- 26. Further, fiscal deficit estimate for FY24 has been revised to 5.8%

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Wednesday, February 1, 2023

Union Budget Review FY23-24

The Government in line with their aim to reach a fiscal deficit level below 4.5% of the GDP by 2025-26 has fixed the deficit for 2023-24 at 5.9%. The reduction in Fiscal deficit figure was expected led by reduction in subsidies post pandemic and moderating global commodity inflation. Deficit figure of 6.4% for FY2023 was …

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Wednesday, January 26, 2022

Pre-Budget report 2022-23

We expect the Union Budget 2022-23 will focus on gradual fiscal consolidation though there will be a continued focus on critical sectors like housing, infrastructure, and manufacturing along with continued thrust on boosting the rural economy. We also do not expect any major changes in personal income tax rates given the fiscal constraints though there …

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Sunday, January 24, 2021

Angel One Union Budget 2021-22 Preview

Post the Covid-19 pandemic there are expectations that the budget would contain measures to boost the economy. In the aftermath of the Covid-19 pandemic, the Government had undertaken targeted fiscal measures aimed at supporting the most critical sectors given the lack of fiscal space to provide support to the economy in the form of large …

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Sunday, May 17, 2020

Update on Government stimulus package – part2

Size of economic stimulus announced is below market expectations The Finance minister has announced an economic stimulus package of Rs.11 lakh cr. between the 13th and the 17th of Mar’20. Including various measures announced by the RBI & government earlier total size of the economic package works out to Rs.21 lakh cr. Markets have however …

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Thursday, May 14, 2020

Update on Government stimulus package – part1

Focus on agriculture and MSME sector along expected lines The Finance minister has announced the first two tranches of the second part of the ` 20 lakh cr. economic package. The focus of the economic package so far has been on ensuring credit flow to essential sectors like agriculture, MSME and Power in order to …

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Friday, April 10, 2020

Investing_in_the_time_of_Covid_19

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Thursday, March 5, 2020

Johnson Controls-Hitachi Air Condition. India Ltd

Johnson Contls-Hitachi Air Conditioning India is engaged in the business of manufacturing, selling and trading of Hitachi brand of Air conditioners, refrigerators, chillers and VRF (variable refrigerant flow) systems. It is one of the market leaders in the RAC segment with 12% share and has been in India for more than 30 years.On the financial …

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Monday, March 2, 2020

Coromandel International Ltd

Coromandel International (CIL) is engaged in the business of farm inputs comprising of fertiliser, crop protection, specialty nutrients and organic compost.On the financial health front, the company is reducing its debt burden over the years from 1.03x debt-equity ratio in FY13 to 0.9 in FY19. Futher more the company is steadily increasing its cash flow …

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Monday, March 2, 2020

Ratnamani Metals & Tubes Ltd

Ratnamani Metals & Tubes is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes at Kutch, Indrad and Chhatral in the state of Gujarat. Current Order book stands at INR 1569 crores which includes orders from SS and CS division at `1,053cr and `516cr, respectively.It’s debt dependency is also very …

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Tuesday, February 25, 2020

Dixon Technologies (India) Ltd

Dixon Technologies (India) is primarily engaged in the manufacturing of electronics as its core business activity. The Company designs consumer electronics like LED lamps, mobile phones, televisions etc.On the financial health front, the company’s balance sheet looks strong with just 0.3x debt over equity. Currently, the stock trades at 44x of its earnings and delivers …

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Wednesday, February 19, 2020

Ipca Laboratories Ltd

Ipca is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. Contribution from Global Fund tenders, new anti-malaria products (injection and dispersible tabs), strong API pricing/demand, Bayshore acquisition and likely pick-up in UK revenues are the key drivers. Further the company has reduced its debt dependency to …

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