ICICI Direct

Majesco reported Q1FY21 numbers. The companys revenues increased 12% QoQ mainly led by acquisition of Inspro Technologies. The companys EBIT margins declined 55 bps QoQ to 9.6%. The company has been sold to private equity for ~5x EV/sales. Hence, these results have less weightage on stock price. 14-AUG-20
According to media sources, PM may announce economic package on the eve of Independence day to boost the consumption which leads to buying activities in the consumer discretionary stocks 14-AUG-20
Tata Steel reported a subdued Q1FY21 performance. Cnsolidated topline came in line with our estimate while consolidated EBITDA came in notably lower than our estimate. Consolidated topline was at Rs 24289 crore (down 32% YoY, 28% QoQ), largely in line with our estimate of Rs 23010 crore. 14-AUG-20

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