Latest news with #Emkay
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Business Standard
a day ago
- Business
- Business Standard
GE Vernova shares hit record high post Q1 results; analysts see more upside
Shares of GE Vernova T&D India Ltd hit a life-high as the stock surged to a 5 per cent upper circuit on Wednesday after its net profit for the June quarter of the current financial year more than doubled, aided by improving margins. The heavy electrical equipment maker's stock rose 5 per cent to hit an upper circuit of ₹2,597 per share, the biggest intraday gain since July 17 this year. This compares to a 0.02 per cent decline in Nifty 50 as of 10:35 AM. Shares of the company rose for the second straight day and currently trade at 0.7 times the average 30-day trading volume, according to Bloomberg. The counter has risen 25 per cent this year, compared to a 5 per cent advance in the benchmark Nifty 50. GE Vernova has a total market capitalisation of ₹66,680.92 crore. GE Vernova Q1 results The company's standalone net profit soared 116.44 per cent year-on-year (Y-o-Y) to ₹291.20 crore, while revenue from operations rose 38.8 per cent to ₹1,330.13 crore in Q1 FY26, compared with the same period last year. Profit before tax (PBT) also recorded a growth of 116.78 per cent to ₹390.01 crore. Earnings before interest, tax, depreciation, and amortisation (Ebitda) more than doubled to ₹387.6 crore in the quarter ended 30 June 2025, up 112.73 per cent from ₹182.2 crore in Q1 FY25. The Ebitda margin expanded to 29.1 per cent from 19 per cent a year ago. The company also reported strong order bookings, which rose 57.28 per cent to ₹1.62 crore in Q1 FY26, compared with ₹1.03 crore in the corresponding quarter last year. Analysts on GE Vernova Q1 earnings The company delivered a significant beat in Q1 FY26, with order inflow and execution rising 57 per cent and 39 per cent Y-o-Y, respectively, Nuvama Institutional Equities noted. Operating profit margin (OPM) hit a lifetime high of 29.1 per cent, among the best in the industry, driven by improved gross margins on pricing gains, it said. Nuvama also sees additional upside from high-voltage direct current (HVDC) opportunities, even as the non-HVDC pipeline continues to grow at 7-8 per cent. The brokerage expects a 30-35 per cent CAGR in order inflow and revenue over FY25-FY28, with OPM stabilising at 20-21 per cent by FY27-FY28 on the back of a 30 per cent export mix. The brokerage has raised its FY26/FY27 earnings per share (EPS) estimates by 6 per cent and 3 per cent, respectively. The target price was revised upward to ₹3,000 from ₹2,250, and it maintained a 'Buy' rating on the stock. Analysts at Emkay Global said that GE Vernova's Q1 FY26 performance significantly surpassed both Emkay's and consensus estimates. Emkay views the company as a compelling opportunity for investors seeking exposure to a global transmission and distribution player with a balanced mix of domestic and export orders. The company is well-positioned to capitalise on the ongoing energy transition, supported by a strong product portfolio and localisation strategy, the brokerage said. Emkay maintains a 'Buy' rating and raises its target price by 32 per cent to ₹2,900, implying a 17 per cent upside.
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Business Standard
a day ago
- Business
- Business Standard
Gail shares fall as Q1 profit dips 25%; Should you hold or exit?
Shares of Gail (India) Ltd slipped over 1 per cent on Wednesday after its net profit in the June quarter of the financial year 2026 (Q1FY26) dipped 25 per cent, as losses in the petrochemical and unallocated segments widened. The Public Sector Undertaking (PSU) company's stock rose as fell as 1.4 per cent during the day to ₹180.4 per share. This compares to a 0.02 per cent decline in Nifty 50 as of 9:55 AM. Shares of the company extended their fall after a one-day gain in the previous session. The counter has fallen 5.3 per cent this year, compared to a 5.2 per cent advance in the benchmark Nifty 50. Gail has a total market capitalisation of ₹1.19 trillion. Track LIVE Stock Market Updates Here Gail Q1 results The gas distribution company reported a net profit of ₹2,369.20 crore for Q1 FY26, down 25.5 per cent year-on-year (Y-o-Y) from ₹3,182.93 crore in the same quarter last year. On a quarter-on-quarter (Q-o-Q) basis, the profit was down 4.9 per cent from ₹2,491.76 crore in Q4 FY25. The company registered a marginal increase of 1.7 per cent in its revenue from operations, coming in at ₹35,428.81 crore from ₹34,821.89 crore in Q1 FY25. However, on a sequential basis, the revenue declined 3.1 per cent from ₹36,551.15 crore in the previous quarter. The management lowered its FY26 pipeline volume guidance to 127-128 mmscmd from 138-139 mmscmd, citing Q1 weakness. However, it retained FY26 marketing profit-before-tax (Pbt) guidance at ₹4,000-₹4,500 crore. ALSO READ | Analysts on Gail Q1 earnings Emkay Global said that Gail's standalone Ebitda and net profit missed estimates by 12 per cent and 16 per cent, though broadly in line with consensus expectations. The earnings miss was driven by a 31 per cent shortfall in marketing Ebitda, along with weaker performance in the petrochemical and unallocated segments, it said in a note. On the positive side, gas transmission and LPG segments outperformed, aided by a ₹130 crore claim settlement in the transmission business. The outlook for the petrochemical segment remains cautious, with no profitability guidance provided for FY26, Emkay said. Emkay has cut FY26-27 earnings per share (EPS) estimates by 5-6 per cent. The March 2027 target price has been lowered by 5 per cent to ₹210, maintaining a 'Buy' rating on the stock. JM Financial noted that Gail's petrochemical segment underperformed due to negative operating leverage from a maintenance shutdown, while earnings from the LPG and other hydrocarbons (OHC) segment also came in below expectations. JM Financial maintains a 'Buy' rating with a revised target price of ₹220, citing the likely near-term tariff hike in the gas transmission business and a healthy 5-6 per cent CAGR in transmission volumes over the medium to long term. The brokerage also expects gas trading profitability to remain robust in the near to medium term. Antique Stock Broking maintained its 'Hold' rating with a target price of ₹185. The brokerage believes the Street may be overestimating the value of Gail's pipeline business and the scalability of its trading earnings.
Economic Times
6 days ago
- Business
- Economic Times
IDFC First Bank Q1 Preview: PAT may fall up to 68% YoY amid NIM pressure. 6 things to watch
IDFC First Bank will announce its Q1 earnings on Saturday, July 26 where the private lender is expected to post a weak set of numbers, with sharp year-on-year decline in profitability due to pressure on net interest margins (NIMs), elevated credit costs, and interest reversals, according to estimates by major brokerages. ADVERTISEMENT Brokerages foresee a sharp YoY decline in PAT, ranging from 31% to 68% while Net interest income (NII) may grow between 4% and 10%. The estimates of Emkay Research, ICICI Securities, Axis Securities and Nuvama Institutional Equities have been taken into consideration. While loan and deposit growth is seen healthy, operating performance may be dented by higher provisions and tepid NII growth. Key monitorables include commentary on MFI asset quality, credit costs, and the cost-to-income ratio. Emkay: Rs 471 crore, down 31% YoY and up 55% QoQICICI Securities: 443 crore, down 35% YoY and up 45.6% QoQ ADVERTISEMENT Axis Securities: Rs 232 crore, down 66% YoY and down 24% QoQ Nuvama: Rs 210 crore, down 68% YoY and down 29% QOQ ADVERTISEMENT Emkay: 5,170 crore, up 10% YoY and 5.4% QoQ | 5.9%, down 36 bps YoY and down 9 bps QoQ ICICI Securities: 4,915, up 4.7% YoY and up 0.2% QoQ ADVERTISEMENT Axis Securities: Rs 4,948 crore, up 5.4% YoY and up 0.8% QoQ | Sharp NIM contraction expected on the back of interest reversals and repo rate change Nuvama: Rs 4,880 crore, up 4% YoY and down 0.5% QoQ | NIM: 5.70% down 52 bps YoY and down 25 bps QoQMixed performance expected on the operating front. Higher cost-to-income ratio could dent PPoP. ADVERTISEMENT Emkay: Rs 1,969 crore, 4.6% YoY and up 8.7% QoQ ICICI Securities: 1,890 crore, up 0.4% YoY and 4.3% QoQ Axis Securities: Rs 1,794 crore down 4.7% YoY and down 1% QOQ Nuvama: Rs 1,830 crore, down 2.9% YoY and up 0.9% QoQNuvama expects loan and deposit growth to remain strong, reflecting healthy credit demand and continued traction in deposit the loans are pegged at Rs 2,47,200 crore as on June 30, 2025, up 20% YoY and 3.9% QoQ, the deposits could rise by 25% YoY and 4% QoQ to Rs 2,62,100 Securities expects the Loan-to-deposit ratio (LDR) to improve is expected to remain elevated due to continued stress in the MFI Securities expects Q1 provisions at Rs 1,483 crore, rising by 49% YoY and 2.3% has estimated slippages at Rs 2,390 crore, a likely growth of 44.4% YoY and 10% key monitorables are commentary on asset quality, especially in MFI book, credit cost trajectory for the rest of FY26, cost-to-income ratio and its outlook. Investors should also watch out for trends in loan mix shift and retail disbursement trends. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
6 days ago
- Business
- Business Standard
Crude oil slips to $68; Emkay flags shift to clean energy, stable supply"
Brent crude prices have cooled to $68 a barrel after briefly breaching the $80 mark during the Israel-Iran conflict, as geopolitical tensions ease and global oil markets rebalance. According to Emkay Wealth Management, the retreat reflects the fading of a $10–15 risk premium, stabilizing OPEC+ supply moves, and a growing global shift toward cleaner energy sources. The brief but sharp rally in crude was largely driven by geopolitical risk premiums, which analysts at Emkay estimate ranged between $10–15 per barrel. With the absence of direct disruptions in key oil routes—particularly through the Hormuz Strait, a vital chokepoint for global oil supply—the tension-driven premium has largely unwound. OPEC+, the influential oil producers' bloc, has stepped in as a stabilizing force by easing supply curbs and promising to gradually ramp up production. Iraq, a key supplier to the U.S., continues to maintain uninterrupted oil exports, further supporting the global supply chain. These developments have collectively helped anchor oil prices in a range-bound zone, easing fears of runaway energy inflation that rattled global markets earlier this year. While supply-side pressures ease, the demand landscape is undergoing a structural shift. The report notes that the European Union's decarbonization agenda—with targets to push renewable and nuclear energy to 70% of its total mix over the next decade—is gaining serious traction. Supported by investments of over $300 billion, this energy transition could curb long-term crude demand, especially in advanced economies. This trend adds another layer of moderation to oil prices, as clean energy adoption intensifies across the globe. In the U.S., crude stockpiles rose by 3.8 million barrels as of June 25, bringing the total inventory to 419 million barrels. This build-up suggests that near-term demand may be softening, or supply outpacing consumption—both of which tend to cap price surges. What's Next for Oil Prices? According to Emkay's analysis, Brent crude is expected to trade within a technical ceiling of $70–$75 per barrel, barring any fresh geopolitical disruptions. With key variables—Middle East tensions, OPEC+ strategy, U.S. inventories, and green energy policy—all appearing stable or favorable, a new price equilibrium is likely taking shape. "Unless new shocks emerge, oil prices are likely to remain range-bound," the report notes. What this means for investors & consumers For Indian investors and consumers, this cooling in crude prices could have multiple positive ripple effects: Lower inflationary pressure, especially on fuel and transportation costs Stable input costs for oil-import-heavy industries (aviation, paints, chemicals) Improved trade balance and lower fiscal burden on fuel subsidies Equity market relief, particularly in sectors like FMCG, auto, and logistics For investors in energy-linked mutual funds or ETFs, cautious rebalancing may be wise, given the evolving price ceiling.
Time of India
23-07-2025
- Business
- Time of India
Bajaj Finance Q1 Results Preview: Up to 19% YoY PAT growth seen, NII may jump up to 24%. 5 other metrics to track
Bajaj Finance will announce its Q1 earnings on Thursday, July 24, and brokerages are expecting another steady quarter for India's largest NBFC, backed by robust AUM growth and healthy profitability. The company's net profit is seen rising up to 19.5% YoY while the net interest income could grow in double digits up to 24% according to the estimates given by four brokerages. Asset quality is expected to hold firm, with credit costs likely to moderate sequentially. Analysts will closely monitor updates on the company's digital transformation, margin outlook, and commentary on growth guidance. Explore courses from Top Institutes in Please select course: Select a Course Category Others Operations Management Cybersecurity Leadership Management Product Management healthcare Healthcare Project Management MCA MBA Artificial Intelligence Degree Digital Marketing Technology Data Analytics Data Science Finance PGDM others Design Thinking CXO Data Science Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details The estimates of Axis Securities, PhillipCapital, Kotak Institutional Equities and Emkay have been considered. Here's how Bajaj Finance could perform on these 7 metrics: 1. PAT Brokerages anticipate Bajaj Finance's net profit to range between Rs 3,912 crore and Rs 4,632 crore, translating to a YoY growth of 17.9%–19.5% and a QoQ uptick of 1.5%–2.9%. Live Events Axis Securities: Rs 4,632 crore (+18.4% YoY | +1.9% QoQ) PhillipCapital: Rs 4,613 crore (+17.9% YoY | +1.5% QoQ) Kotak Equities: Rs 3,912 crore (+19.5% YoY | +2.9% QoQ) Emkay: Rs 4,631 crore (+18% YoY | +2% QoQ) Also Read: SBI Life Q4 preview: Up to 8% YoY growth seen in APE. Pressure likely in VNB, margins 2. NII & NIMs Net Interest Income (NII) is projected to rise significantly, though margin movement is mixed. Axis Securities: NII at Rs 10,279 crore (+22.9% YoY | +4.8% QoQ) Emkay: Rs 10,371 crore (+24% YoY | +6% QoQ) | NIM at 11.76% (–41 bps YoY | +6 bps QoQ) Kotak Equities: Rs 8,365 crore (+21.9% YoY | +4% QoQ) | NIM at 9.7% (–22 bps YoY | –14 bps QoQ) PhillipCapital: NIM at 12.33% (+16 bps YoY | +63 bps QoQ) 3. PPoP Operational performance remains resilient across brokerages. Axis Securities: Rs 8,418 crore (+21.2% YoY | +5.7% QoQ) Kotak Equities: Rs 6,947 crore (+21.2% YoY | +5.7% QoQ) Emkay: Rs 8,400 crore approx. (~6% QoQ growth) 4. Asset quality Provisions and credit costs are expected to decline QoQ, with asset quality holding steady. Axis Securities: Provisions at Rs 2,223 crore (+32% YoY | –4.5% QoQ) Kotak Equities: Rs 1,685 crore (+27.3% YoY | +7.9% QoQ) Emkay: Credit cost at 2.08% (–21 bps QoQ) | GS3/NS3 at 1%/0.5% 5. EBITDA: PhillipCapital estimates Earnings Before Interest, Taxes, Depreciation and Amorisation (EBITDA) Rs 8,802 crore, a likely 27% YoY and 10% QoQ uptick. 6. AUM AUM growth remains a standout positive, expected to expand around 25–26% YoY and 6% QoQ, crossing Rs 4.4 lakh crore. Axis Securities: AUM growth at 26% YoY and 5% QoQ Emkay: AUM at Rs 4.4 trillion (+25% YoY | +5.9% QoQ) Kotak: AUM growth at 25% YoY | +5.9% QoQ 7. Key monitorables: Commentary on asset quality and credit cost trajectory Progress on Loan Referral System (LRS) and tech-led initiatives Any updates to FY26 growth guidance Movement in borrowing costs and pricing discipline across portfolios
