Tag: Prabhudas Lilladher

Amisha Vora named chairperson & MD of Prabhudas Lilladher after 96% stake acquisition

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Financial services organisations Prabhudas Lilladher Group on November 16 announced that co-owner and joint managing director, Amisha Vora, will now be the chairperson and managing director of the PL Group. She now holds a 96 percent stake in the group’s holding company, up from 24 percent.

The company said that the acquisition has been approved by SEBI, BSE and NSE, RBI, and the other regulators of respective PL Group companies.

In a statement, Vora said, “My mission is to ensure that we at PL continue to work towards converting our client’s savings into wealth. The PL brand has been built on the values of ‘Trust, Transparency and Ethical Practices’. We will continue to build our businesses on these core values of PL, which are ingrained in our DNA.”

Arun Sheth, chairman of PL, who has been associated with the company for 50 years, will be retiring from the post after attaining 75 years of age. “Dilip Bhat, Joint MD, would also be moving on after 22 years. The Group’s Vice Chairman, Dhiren Sheth, will continue his association through his position on the Board of Directors as a Non-Executive Director,” the group said in a press release.

Sheth said: “The PL Group is now in the able hands of Amisha Vora. We are sure that with the help of a capable and dedicated team, she will strive for rapid growth in times to come. We wholeheartedly wish her all the success in the future.”

Amisha has been associated with the group since 2000 and was appointed the MD in 2007.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Rising agri commodity prices providing export push; see rural demand improving: Prabhudas Lilladher

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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[wealthdesk shortname=”Escorts” isinid=”INE042A01014″ bseid=”500495″ nseid=”ESCORTS” sector=”Auto – Tractors” exchange=”nse”]In an interview with CNBC-TV18, Amnish Aggarwal, Head-Research, Prabhudas Lilladher, said that rising prices of agricultural commodities have opened up export options. Aggarwal mentioned that farmers are likely to benefit from the higher prices and he estimates Rs 55,000-60,000 crore as the incremental revenue that the they might derive.

He said, “Russia and Ukraine are major players in many agri commodities ranging from sunflower to wheat, maize, mustard, barley etc., and the prices of these have shot up significantly in the last month, month-and-a-half because of the Russia-Ukraine war. In many of these commodities, India was an importer but due to sharp increase in global prices now, the export market has opened up for the Indian supplies, and this incidentally has coincided with rabi crops because mustard and wheat are rabi crops in India.”

“We have conducted extensive channel checks, which suggest that the farmers are likely to benefit from this because the current prices prevailing in various grain markets are between 12-15 percent higher and if the situation sustains, which I believe should, the prices will go up once the harvesting season is over. So we estimate maybe around Rs 55,000-60,000 crore should be the incremental profits to the farming community from 3-4 major crops during rabi season only,” said Aggarwal.

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He believes higher farm income, dairy growth and infra will only drive consumption in the rural areas. “The increase in farm income, better outlook for the dairy sector, overall pick-up in the infrastructure activity, availability of jobs in the rural areas, all these will result in an increase in disposable income and maybe we will start witnessing greenshoots in the rural demand in another couple of months from now,” he said.

Aggarwal expects demand conditions to improve for rural-focussed businesses. He believes an upsurge in rural demand will in fact be a trigger for the entire economy.

Watch the video for the full interview.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Expect government to give some relief to telcos: Prabhudas Lilladher

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Union Cabinet is likely to consider relief for the telecom sector today. This is, in essence, a make or break moment for Vodafone, which is saddled with total liabilities of nearly Rs 2 lakh crore including dues of more than Rs 50,000 crore in adjusted gross revenue (AGR).

Amnish Aggarwal, head of research at Prabhudas Lilladher, believes that there is room for the government to give some leeway to the telecom companies so that India has at least three telecom players in the longer-term.

“Telecom today is a much broader play and not just the instrument to call. It is the data, e-commerce, so the dependence of the entire economy on telecom is much more. So keeping that in view, and the fact that today if the economy has to grow, there has to be a vibrant telecom data market, including the quality of data and penetration – so at some point of time, in order to propel the economy, the government might look at giving some relief to the telecom companies,” he said.

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According to him, there are only two ways in which the companies can remain in green and grow in the longer-term and also ensure the upcoming capex on 5G.

“One is you increase your average revenue per user (ARPU) gradually and the second way is that the government levies should come down,” he added.

He believes, the easier way out would be – reduction in levies, some spectrum usage charges and other stuff, which is purely an executive decision and it doesn’t come in conflict with the Supreme Court of India’s verdict.

For more, watch the accompanying video.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

COVID-19 vaccine: Manufacturers will be beneficial of this theme, says Prabhudas Lilladher’s Surajit Pal

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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There are big opportunities in pharmaceutical companies from the entire COVID-19 vaccine space, said Surajit Pal, Pharma Analyst at Prabhudas Lilladher.

“The manufacturers of COVID vaccine will be beneficial of the vaccine theme. Panacea Biotech will be benefited. Cipla, Hetero might be beneficial of this as well,” he told CNBC-TV18.

On Remdesivir, Pal said, “Most of the doctors are playing safe and even for the guy with mild symptoms they are prescribing Remdesivir and overuse of Remdesivir is that it could damage your lungs like overuse of paracetamol damages your kidney. As far as business is concerned, API guys will be more beneficial from that perspective. Divi’s Laboratories, Laurus Labs will be one of the key producers of Remdesivir in terms of APIs.”

Watch the video for more

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

COVID surge: Market to remain rangebound till clarity emerges, says Prabhudas Lilladher

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets have been volatile in the recent past. After hitting all-time highs the market has swayed in a big range and Prabhudas Lilladher’s Amisha Vora believes that the uncertainty will continue till there is better clarity on the COVID-19 second wave situation.

“If you want to remain invested, reduce your risk a bit,” said Vora, the Joint MD of Prabhudas Lilladher in an interview with CNBC-TV18.

“Markets are showing a lot of resilience. Till we get clarity on the COVID-19 situation, markets will remain a little rangebound,” she said.

She believes that the rural economy will continue to do well with a good crop, good prices and expectations of better monsoon.

“At this juncture, the market is not factoring in a one-two month of lockdown. That will definitely have its impact on markets because earnings will get impacted,” she further mentioned.

In terms of pharmaceutical companies, she stated, “We would like to continue with some of the large pharma with very good models including Divi’s Laboratories and Dr Reddy’s Laboratories. We continue to like Eris Lifesciences and Ipca.”

For more, watch the video

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Infosys slips after Q4 results: Accumulate at current levels, says Prabhudas Lilladher

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IT major Infosys disappointed the street with its Q4 earnings announced on Wednesday. Revenues were a miss but the margins beat the street estimate and then there was a massive buyback as well.

Aniket Pande, Lead Analyst- Technology at Prabhudas Lilladher said, “Infosys revenue was a miss in this quarter by almost around 200 basis points. Management mentioned that the miss in revenue was mainly due to the large part of volume growth was led by offshore and there was also a lower contribution from third party deal and there was also weak seasonality of Q4.”

He further added, “Margin performance was inline for Infosys in this quarter. There would be wage hike and travel cost coming up into the next two quarters actually but the volume growth was the highest in a decade this time. This strong volume growth clearly shows the kind of strong demand environment we are in right now.”

While giving a call on Infosys Pande said, “Infosys still is trading at around 18 percent discount to Tata Consultancy Services (TCS) actually. Going forward street will also have to focus that the Daimler deal will pick up in the next two quarters which can also bring surprises to the revenue guidance estimate for FY22. We believe that FY22 revenue guidance is quite conservative. We believe that one should take this opportunity to accumulate Infosys.”

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Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Also read: Infosys reports net profit of Rs 5,076 cr; board approves share buyback worth Rs 9,200 cr

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Buy on any dip to enter market, says Prabhudas Lilladher; lists its top picks

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian shares have ebbed sharply from February 2021 high levels as investor worries have risen owing to a surge in the COVID-19 cases and consequent curbs imposed by many state governments. A number of states have imposed stricter restrictions such as mini lockdowns and night curfews in order to curb the infection while more could be in the offing thereby making the economic recovery look fragile.

The market correction, however, is an opportunity, said brokerage house Prabhudas Lilladher in a recent report advising investors to use any dip as an entry point.

“We note that markets are driven by hopes of structural economic recovery and high levels of global liquidity and record FII inflows. Any correction due to the second wave of COVID-19 should be used as an entry point,” it said in the report.

India on Monday reported another record daily surge in coronavirus cases, with the total now eclipsing Brazil’s tally. A record 1.68 lakh COVID-19 infections overnight were reported in the country, overtaking the Latin American hotspot nation to become the second-most affected country globally by the coronavirus.

It also believes that the emerging corona situation can result in incremental EPS cut for FY22 in the coming months, although it seems too difficult to extrapolate the same to FY23. Lowering the Nifty target, it set a 12-month target for the NSE frontline index at 16,020 in the base case scenario vs 16,075 earlier.

Meanwhile, in the bull case scenario, Prabhudas Lilladher sees Nifty touching 18,977 in 15 months, which is lower than its previous target of 19,137.

Going ahead, the brokerage believes long terms trends in Infra, Housing, IT Services, Pharma, Chemicals, BFSI, Agri and E-commerce are intact. E-commerce, Electric Vehicles, OTT, Green energy, make in India and Financialisation will be key market drivers in the coming decade, it added.

The brokerage has added Rallis India and Westlife Development in Top picks. Here’s the list:

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow