Sector Reports

Get updated on the recent macro and micro trends in various sectors as well as Indian and Global markets.

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Date

114/114 Reports

  • Quick Note: USD-INR
    Quick Note: USD-INR

    24 Mar 2017

    Flows are offsetting an obvious over-valuation of the INR. RBI to keep seeking risk-off opportunities to correct this. We forecast INR at 68/69 for end-FY 18/19, translating to an average of 67.0/68.7 for FY 18/19.
  • Sector Update:Telecom - Idea and Voda merger
    Sector Update:Telecom - Idea and Voda merger

    24 Mar 2017

    Merged entity on a strong footingwith substantial spectrum holding (No.1 in total spectrum, No. 3 in sub-1 GHz spectrum), highest broadband capacity, larger scale of 273K sites (69% broadband), and market share (RMS: 41%; No. 1 or 2 in 21/out of 22 circles)
  • Auto Conference 2017 - Key Takeaways
    Auto Conference 2017 - Key Takeaways

    24 Mar 2017

    These were just few of the topics discussed at our 3rdAnnual India Auto Conference. This year we had 15 participants –a good blend of OEMs, ancillaries, financiers & dealers meeting ~140 investors across ~80 funds.
  • Economy Update: CPI
    Economy Update: CPI

    20 Mar 2017

    CPI rose as expected to 3.7% y-o-y in February. The increase was led by higher food & fuel, whereas refined core inflation continues to soften.
  • Economy Update - GDP Q3FY17
    Economy Update - GDP Q3FY17

    17 Mar 2017

    Dec16 quarter India GDP and GVA growth slowed only marginally to 7% and 6.6% respectively, despite demonetization, which is much better than consensus expectation of ~6%.
  • Sector Update:Reliance Jio
    Sector Update:Reliance Jio

    17 Mar 2017

    Telecom industry market size likely to be Rs 3 trn by 2020-21(FY16: Rs 1.9 trn).Voice revenues will shift to data. Data is supply constrained (demand will always outstrip supply).India has become most active market for Google and Facebook
  • Sector Update:Logistics Monitor
    Sector Update:Logistics Monitor

    17 Mar 2017

    JNPT’s volume (TEU) dipped 9% YoY –APM Maersk terminal’s volume declined 8% YoY, while JNPT operated terminal de-grew 19% YoY. DP World’s aggregate volume was flat YoY as its mini terminal (0.8 mn TEU capacity) took volume from DP World’s older terminal at JNPT given benefits of non-TAMP p..
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  • Sector Update:PHARMA
    Sector Update:PHARMA

    03 Mar 2017

    India Pharma@ domestic sales grew a modest 10% YoY in Q3FY17 (vs. our estimate of 8%) led by extending working capital, discounts, etc. While demonetization hurt growth by ~200-300 bps, management conference call takeaways suggest that demonetization is largely behind and, expectsgrowth to return to..
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  • Economy Update: India in numbers - Feb 2017
    Economy Update: India in numbers - Feb 2017

    27 Feb 2017

    The deluge after the storm… The banking sector is flush with liquidity (~INR 6trn, see exhibit 1), which is parked in MSS and term repos, but cash withdrawals,depositsseeking riskier yield and credit growth picking up should shrink the excess. For e.g. non-food credit grew 1.8% m-o-m in January an..
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