Tag: Motilal Oswal

Hindalco is investing heavily in its businesses that make aluminum products for things like cars, trucks, and packaging. The company is doing this because it believes that the demand for these products will continue to grow in the coming years. Despite some challenges in the near term, Hindalco is confident in its long-term outlook. The company is adding new capacity to make more of these products, and it expects to be profitable from doing so.

Star Health & Allied Insurance Company (STARHEAL) sees strong growth opportunities in India's health insurance market. The company is focusing on deepening its presence in rural India and enhancing its bancassurance channel to capitalize on this growth. Analysts expect STARHEAL to report a 19% CAGR in overall gross premium over FY23-25, driven by a 20% CAGR in retail health and a 10% CAGR in group business. Claims ratios are likely to normalize at ~64%, with the combined ratio at ~93%. These factors should boost STARHEAL’s profitability over FY23-25, with RoE improving to 16% in FY25E from 11% in FY23.

Phoenix Mills (PML) has released its FY23 annual report, highlighting the company's strong execution capabilities, significant business growth in new malls, and the healthy growth trajectory of the Indian retail sector. PML's retail portfolio has doubled in the last five years, and its two new malls in Indore and Ahmedabad are already generating strong sales. The company is well-positioned to benefit from the long-term growth of the Indian retail sector.

ICICIBC's Annual Report shows that the bank is making progress towards sustainable growth, with strong contingency buffers, robust underwriting and risk-monitoring mechanisms, and a healthy balance sheet. The bank's retail franchise strengthened with 23% YoY growth (18% YoY growth in home loans), and it sustained robust traction in liabilities. It maintains one of the highest proportions of Retail deposits, with a strong CASA mix. Overall, the report is positive and shows that ICICIBC is well-positioned for sustainable growth.

CAMS, the leading registrar and transfer agent (RTA) in India's mutual fund (MF) industry, held an Analyst Day to share its in-depth insights on various industry-first solutions and fresh developments in the numerous business categories it operates in. The company is optimistic about the future growth of its non-MF businesses, which are expected to benefit from structural tailwinds and a favorable macro environment. CAMS believes that each of these businesses has the potential to generate around INR 0.7-1 billion over the next three to four years.

Godrej Properties (GPL) has set ambitious goals for FY24, including INR140 billion in pre-sales, capitalizing on its strong balance sheet, and maintaining its commitment to sustainability. The company has made a strong start to the fiscal year, successfully adding INR64.5 billion worth of projects. We reiterate our BUY rating on GPL with a target price of INR1,915.