A factor that impacted the company’s valuation was fluctuating operating margin in the range of 14-19% in the past five years.
Thapar said the power business (that would be left post the proposed deal) would report profit of Rs 325 crore on a revenue of Rs 6,500 crore.
Following the additional tax on individual dividends above Rs 10 lakh from April 1, the street has begun pricing in a significant dividend payout in March.
Budget tweaks turn the spotlight on oil marketers, new formula to weigh on producers like ONGC, Oil India
The government reduced cess to 20% of oil price, lower than analysts expectation of 10% cess.
The measures are likely to play a pivotal role in arresting the decline in volumes that the company is facing in the local market.
Hero Moto’s stock has outperformed the BSE Auto index by 14% since January after being an underperformer in the past two years.
The stock of Maruti will be more vulnerable to EPS cuts since it was riding on higher expectation of benefits from the pay commission.
Subros volume growth is expected to improve given the growth in passenger car volumes and the strategy to diversify activities by entering new areas of operations.
Ashok Leyland has maintained volume growth guidance of 20 per cent for FY16 since it expects replacement demand to continue.
Shares with differential voting right (DVR) have delivered higher returns than their respective common stocks over the past one year.
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