After almost zero business in April and some recovery in May, June was a month of significant recovery for Pidilite
It's EBITDA stood at Rs 66.37 crore in Q1FY21, down 85.04 per cent YoY from Rs 443.73 crore posted in Q1FY20
Lower input costs, led by soft crude oil prices, lend some hope
Net sales declined 6% YoY to Rs 1,535 crore, largely impacted by lockdown and disruption in the supply chain.
Trading at 77x, its trailing 12-month net profit against industry average of about 43x
The primary trend of Ipca Lab's stock has been bullish with higher tops and higher bottoms on the weekly and monthly charts
On the sectoral front, PSU banks and FMCG stocks made decent gains while realty, metal. and media counters suffered losses
The recent announcement of a 70 per cent acquisition in Tenax India would be beneficial for Pidilite given it expands the company's adhesives portfolio in the marble and stone industry
The company has fixed March 16, 2020, as the record date to determine /ascertain the members entitled to receive the interim dividend.
India Inc is expecting a slew of economy-boosting steps such as income-tax rate cuts, increased rural infrastructure spending, and job creation measures in the Union Budget this time
Hero MotoCorp has made another higher bottom formation pattern in the daily chart to imply strength and potential to rise further to give a breakout above the previous peak of 2,480
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Competitive intensity, slowdown in construction activities and liquidity issues could make volume recovery difficult
Nestle India gained 4% to Rs 12,266 apiece, surging 7% during current week, after the company reported a 11% year-on-year (YoY) rise in net profit to Rs 438 crore for the quarter ended June 2019.
Net profit surged by 22%, driven by 10% rise in revenue and 119 basis point jump in operating profit margin to 22%
The management remains cautiously optimistic in the medium term of delivering consistent, profitable volume-led growth.
Volume expansion continues to be strong, aiding top line
While margin pressure and pricey valuation are near-term headwinds, volume growth remains healthy
Analysts also expect Pidilite's sales growth in the near-term to be driven by volume
The stock hit a new high of Rs 1,137, up 5% on the BSE, after the company reported a better than expected 57% year on year growth in consolidated net profit at Rs 2.48 billion in March quarter