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Analysts noted that OMCs have been losing money on the sale of petrol, diesel, and LPG. They believe the excise cuts should give OMCs a headroom to hike fuel prices and partially recover their under recoveries. The freeze in fuel prices in the March quarter, despite escalating global oil prices, most likely owing to state elections, led to steep under-recoveries for oil marketing companies (OMCs), said Nomura India.

The brokerage maintained REDUCE rating on Shree Cement, with a revised SOTP target price of Rs 22,200/share. In Q4FY22, Shree’s performance disappointed as it missed ours/consensus EBITDA estimates by ~14/11% on lower-than-estimated pricing and higher-than-estimated input costs.

The quota for retail bidders was subscribed 1.25 times, whereas the allocation for non-institutional bidders was subscribed merely seven per cent. The qualified institutional buyers did not participate in the book-building process so far.

Market experts believe that the latest correction in the equity market gives a meaningful entry point to investors. They also suggest investors allocate funds aimed to diversify their portfolios. Domestic equity markets have seen a sharp correction in the last few weeks, following the geopolitical uncertainty, rate hikes and rising inflationary worries.

“There could be 20-40% downside in most steel stocks and people should stay away. Other metals like copper, aluminium have not been impacted because in the downturn, they did not get any protection and so now they are not facing these duties. Auto, capital goods sectors to benefit from import duty on steel, excise cut in fuel.”

Karur Vysya Bank, incorporated in the year 1916, is a banking company (having a market cap of Rs 3712.05 crore).

The brokerage is positive on CCRI’s prospects and believe that it is best positioned to capitalize on favorable infrastructure‐related tailwinds. It remains positive on the structural growth story considering 1) continual market share gains in domestic segment 2) strong EXIM volumes, and 3) new strategic initiatives. At CMP, the stock trades at a P/E of 24.3x/20.5x FY23E/FY24E earnings and at an EV of 14.6x/12.5x FY23E/FY24E EBITDA.

"We believe that the Adani-Holcim deal is positive for the industry. Post the deal, there is another announcement in which they intend to double the company capacity over the next 5 years. In that case, we expect the competitive intensity to increase further in the industry and could see further consolidation of cement capacity with some of the large cement players bidding to acquire smaller marginal players."

​Revenue/EBITDA/PAT of the company is expected to report CAGR of 11%/10%/10% respectively over FY22-FY24E. Input prices are likely to remain volatile for coming fiscal, which could keep EBITDA margins under pressure. Hence, the brokerage expects EBITDA margins to come in at 14.9%/15.3% in FY23E/FY24E respectively.

Revenue from operations of the company climbed 40.83 per cent for the quarter to Rs 2518.44 crore as against Rs 1788.19 crore in the same quarter last year.