INSUBCONTINENT EXCLUSIVE:
Good morning!
The domestic stock market on Wednesday showed early signs of a possible breakout from its consolidation range
estimates on account of lower tax rate
Also, the company expects better performance from recently launched Zavicefta and upcoming products
The key risk on the stock remains Prevnar13 status and any further expansion of NLEM portfolio in the domestic market
The brokerage said with resolutions beginning to pick, SBI remains a key beneficiary
Standard exposure to vulnerable sectors remains a source of potential stress, howeve,r the extent of incremental stress is expected to be
considerably lower than before
Overall comfort on asset quality is increasing every quarter, which should reflect in improving return ratios
The company signed a share purchase agreement to acquire GMR Kamalanga through a deal that is valued at a maximum amount of Rs 5300 crore
ability to reduce interest
The brokerage said it remains positive on the company on account of sizeable growth potential in sector, huge imminent capex in hydrocarbon
sector, assetlight business model, debtfree balance-sheet, healthy revenue and earnings growth and robust return ratios
Also, Turnkey business is likely to provide robust momentum with large projects in advance level of execution
The company has an aggressive pipeline of 7-8 launches lined up in Q4FY20 of which it has already launched projects such as RK Studios,
Mumbai and many projects in NCR and Bengaluru
over Rs 2,000 crore in Q4FY20, ICICI Securities said
Shares of Godrej Properties closed at Rs 1,110, down 2 per cent.