Britannia Q2 Results: Net profit up 23% YoY to Rs 495 crore

Mumbai: Biscuit maker Britannia Industries reported a consolidated net profit of Rs 495.20 crore for the quarter ended September, up 23 per cent from a year ago. The company had reported a net profit of Rs 405.37 crore in the same quarter a year ago. An ET Now poll had projected the company to report … Read more

TCS management on Covid trigger, multi-year transformation & more

Rajesh Gopinathan, CEO & MD, and NG Subramaniam, COO, TCS in conversation with Nikunj Dalmia of ETNOW. What has the Covid crisis done to IT services that things have taken a complete 180-degree turn? Rajesh Gopinathan: In many ways things have not changed compared to the commentary that we gave at the end of March, … Read more

Rs 16,000-cr buyback not big enough to move the needle for TCS

There might be a 5-7% revision in price targets because we have already upgraded it a bit. We also need to see how 3Q, 4Q margins will be because the currency is appreciating and there are wage hikes as well, says Madhu Babu, analyst, Centrum Broking. The TCS buyback quantum is a little lower than … Read more

Why Vedanta delisting is likely to fail

So long-term investors in Vedanta, it is time to switch over to a better stock, says Mahantesh Sabarad, head of retail research at SBICAP Securities. On Vedanta delistingI do not belong to the camp that says that the delisting price will be somewhere around Rs 175-190. It is very clear even from the current book … Read more

Market capitalisation does not reflect SBI’s true value

By Nikunj Dalmia Rajnish Kumar , outgoing SBI Chairman on his journey through challenges thrown up by demonetisation, GST, Covid and bank mergers not to mention YES Bank and Jet Airways. Looking back at your life in State Bank of India, how would you like to summarise it?It has been a very exciting journey. The … Read more

Stocks to buy in HFC, auto ancillary and construction sectors

US markets are running on stimulus hope and domestically, it will make sense to be very cautious while trading in short-term players, says Rahul Sharma, market strategist and research head (equity), Equity99 Advisors. On near-term factors at play in the marketIn September, the Nifty fell to 10,800 from 11,600 and then it rebounded to 11,600. … Read more

Be careful about chasing IT stocks from here on

IT stocks are slightly in the overvalued territory and I will be very careful in chasing these stocks from here on, says Sridhar Sivaram, Investment Director, Enam Holdings. Among the top four IT names, TCS has a PE multiple of 25-26 times, Infosys north of 20, Tech Mahindra, Wipro are in the late teens. If … Read more

HDFC bank | ICICI bank: Is ICICI Bank a better bet than HDFC Bank over next 12-18 months?

Ashok Leyland could see a 50% upside from current levels going forward and that is the one auto stock I would recommend from a three years’ perspective, says Abhimanyu Sofat, VP-Research, IIFL. What is your observation of the trend in September sales by auto majors?One thing which was clear was that most of the auto … Read more

‘We are learning to live with Covid. India on verge of a structural bull market’

By Nikunj Dalmia I do not think the Covid crisis has caused the PE expansion or the EPS expansion in pharma. It was overdue. I have been shouting for two years, says Rakesh Jhunjhunwala, Partner, Rare Enterprises. Do you think markets right now have normalised or have we extended ourselves?There is only worry and there … Read more

Yet to see very big scalability in Reliance Jio and Retail over next 3-5 years: Emkay Investment

Export-oriented businesses like pharma, CRAM and the specialty chemicals will have exceedingly good growth even in FY21. But in FY22 and FY23, we expect a lot of these businesses to have very nice EBITDA and bottom line growth, says Sachin Shah, Fund (Portfolio) manager, Emkay Investment Managers. Some of the top stocks in your portfolio … Read more