Views on News from Equitymaster

Blue Dart : Not out of the woods yet (Subscriber Feature)

Wed, 15 Jul 2009 00:00:00 GMT

Standalone topline of the company declines by 14.9% YoY during the quarter mainly on account of lower fuel surcharge. Operating profits decline by 39.7% YoY, thus causing a fall in operating margins by 4.1%, mainly on account of higher operating costs. Bottomline declines by 44.8% led by contraction at operating level and higher depreciation charges. Half yearly net profits declines by 55% YoY on the back of 13.7% YoY decline in topline.... [Read More]

FMCG: Where to from here?

Wed, 15 Jul 2009 00:00:00 GMT

The FMCG sector witnessed strong double digit growth over the last three years. Growth was robust at 20% CAGR as compared to a 6% growth witnessed during the period 2001-05. In this article we shall have a look at what is in store for the sector going forward.... [Read More]

HDFC Bank: Reflecting consolidation effect (Subscriber Feature)

Wed, 15 Jul 2009 00:00:00 GMT

Interest income grows by 13% YoY in 1QFY10 on the back of a tepid 8% YoY growth in consolidated advances (including Centurion Bank of Punjab�s loans). Net interest margin (NIM) remains stable at 4.2%; CASA (current and savings account) level improves to 45%. Operating expenses grow by only 7% YoY; cost to income ratio at 48%. Net NPA to advances remain at 0.6% in 1QFY10 as in 4QFY09. Provision coverage ratio at 70% in 1QFY10. Capital adequacy ratio (CAR) comfortable at 15.4% in 1QFY10; Tier I at 10.6%.... [Read More]

Reforms on despite the budget

Wed, 15 Jul 2009 00:00:00 GMT

The stock markets had given thumbs down to the budget, as it lacked any clear signals for economic reforms. In what seems like a damage control exercise, the Finance Minster Pranab Mukherjee assured everyone yesterday that the reforms are definitely on.... [Read More]

Sintex: Improved margins save the day (Subscriber Feature)

Tue, 14 Jul 2009 00:00:00 GMT

Consolidated sales decline by 9% YoY during 1QFY10, led by pressure on both the plastic and textile divisions. Operating margins improve by 0.5% YoY on the back of lower raw material costs (as percentage of sales). Led by higher operating margins and other income and lower interest expenses, net profits manage to grow> by 7% YoY during the quarter.... [Read More]

Axis Bank: Encouraging start to the fiscal (Subscriber Feature)

Tue, 14 Jul 2009 00:00:00 GMT

Net interest income rises by 29% YoY during 1QFY10 on the back of 28% YoY growth in advances. Bottomline expands by 70% YoY aided by strong traction in other income (up 53% YoY) coupled with lower provisioning. Net interest margin (NIM) drops marginally to 3.3% from 3.4% in 4QFY09. Net NPA to advances lower at 0.4% at the end of 1QFY10, as compared to 0.5% at the end of 1QFY09. Capital adequacy ratio (CAR) comfortable at 15.3% at the end of 1QFY10.... [Read More]

WTO on the global economy: Recovery is far from over

Tue, 14 Jul 2009 00:00:00 GMT

Various individual experts and organizations have been giving their take on the global economy and how deep the recession is. Many are of the opinion that the global economy is far from a significant recovery and the latest to join this bandwagon is the World Trade Organisation (WTO).... [Read More]

Investing: Overconfidence is dangerous

Mon, 13 Jul 2009 00:00:00 GMT

In the previous article on 'availability bias', we discussed how analysts and investors get unduly influenced by their recent experiences in estimating the probability of an event.... [Read More]

A love affair with EPS

Mon, 13 Jul 2009 00:00:00 GMT

It is no secret that the earnings a company is able to achieve in a particular year or quarter holds a special place in the hearts of most participants in the stock market. Predicting next quarter�s earnings for a company is one of the hottest topics of discussion (or more aptly � speculation) on 'business' channels.... [Read More]

Liquidity: Problem of plenty?

Mon, 13 Jul 2009 00:00:00 GMT

We have seen in the past few months just how swift financial and economic changes can be. A recent Mint report throws light on how one such change has taken place in the liquidity scenario in the country, wherein things have gone from a huge liquidity crunch to a flood of liquidity in the banking system.... [Read More]