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Motilal Oswal recommends 'Top FY20E upgrades/downgrades' post interim earnings

Updated : 2020-01-31 15:21:18

In this third-quarter earnings of FY 2019-20, Motilal Oswal believes that tax cuts announced last year are supporting earnings growth. According to 65 Motilal Oswal Universe and 20 Nifty companies, both Nifty and MOSL universe have met expectations on the sales, EBITDA, PAT, and PBT front. Within the MOSL sectoral coverage, healthcare, retail, consumer, cement and auto have seen a 1-5 percent earnings upgrade, while PSU banks, media, metals, life insurance and NBFCs have seen an earnings cut, the report said. However, the brokerage has given out its Top FY20E upgrades and downgrades and here is the list:

Dr Reddy's Laboratories received an FY20E upgrade of 7.3 percent, by Motilal Oswal. The stock in its Q3FY20 reported a consolidated net loss of Rs 569.7 crore due to higher expenses. Total revenue and EBITDA rose 14 percent YoY each. (Image: Reuters)
Dr Reddy's Laboratories received an FY20E upgrade of 7.3 percent, by Motilal Oswal. The stock in its Q3FY20 reported a consolidated net loss of Rs 569.7 crore due to higher expenses. Total revenue and EBITDA rose 14 percent YoY each. (Image: Reuters)
Wipro's FY20E upgrade by the brokerage was at 5.7 percent. The IT giant in its third-quarter posted a 3.20 percent YoY drop in consolidated net profit while total revenue increased 2.73 percent YoY to Rs 15,470.50 crore. (Image: Reuters)
Wipro's FY20E upgrade by the brokerage was at 5.7 percent. The IT giant in its third-quarter posted a 3.20 percent YoY drop in consolidated net profit while total revenue increased 2.73 percent YoY to Rs 15,470.50 crore. (Image: Reuters)
HCL Technologies received an FY20E upgrade of 3.9 percent by the brokerage. The IT firm's net profit surged 16.3 percent YoY to Rs 3,037 crore. The IT major posted revenue growth of 16.4 percent YoY in constant currency terms, delivering a strong 20.2 percent before interest and taxes (EBIT). (Image: Reuters)
HCL Technologies received an FY20E upgrade of 3.9 percent by the brokerage. The IT firm's net profit surged 16.3 percent YoY to Rs 3,037 crore. The IT major posted revenue growth of 16.4 percent YoY in constant currency terms, delivering a strong 20.2 percent before interest and taxes (EBIT). (Image: Reuters)
Motilal Oswal upgraded ICICI Bank's FY20E rating by 2 percent. The private bank this quarter reported a 158 percent YoY jump in net profit owing to a one-time gain from Essar Steel resolution, which led to lower provisions. NII rose 24 percent YoY. (Image: Reuters)
Motilal Oswal upgraded ICICI Bank's FY20E rating by 2 percent. The private bank this quarter reported a 158 percent YoY jump in net profit owing to a one-time gain from Essar Steel resolution, which led to lower provisions. NII rose 24 percent YoY. (Image: Reuters)
Asian Paints received an FY20E upgrade of 2 percent by the brokerage. The paint business is one of the topmost in its sector and in the third quarter, it's consolidated net profit rose 20.5 percent YoY and revenue from operations surged 3 percent. (Image: Reuters)
Asian Paints received an FY20E upgrade of 2 percent by the brokerage. The paint business is one of the topmost in its sector and in the third quarter, it's consolidated net profit rose 20.5 percent YoY and revenue from operations surged 3 percent. (Image: Reuters)
JSW Steel was downgraded 20.3 percent by Motilal Oswal. The steel giant in Q3FY20 reported 88 percent fall in consolidated net profit at Rs 211 crore for the December quarter compared with a net of Rs 1,624 crore in the same quarter last year.  (Image: Reuters)
JSW Steel was downgraded 20.3 percent by Motilal Oswal. The steel giant in Q3FY20 reported 88 percent fall in consolidated net profit at Rs 211 crore for the December quarter compared with a net of Rs 1,624 crore in the same quarter last year.  (Image: Reuters)
Zee Entertainment's also received a downgrade of 13.8 percent by the brokerage. The media giant reported a 37.87 percent year-on-year (YoY) decline in consolidated net profit at Rs 349.43 crore for the third quarter ended December 31, 2019. (Company Logo)
Zee Entertainment's also received a downgrade of 13.8 percent by the brokerage. The media giant reported a 37.87 percent year-on-year (YoY) decline in consolidated net profit at Rs 349.43 crore for the third quarter ended December 31, 2019. (Company Logo)
IndusInd Bank's in the report was downgraded by 6.1 percent. The lender posted a 32 YoY rises in profit at Rs 1,300 crore but missed its Street's estimates. NII saw an increase of 34.35 percent YoY to Rs 3,074.02 crore.  (Image: Company)
IndusInd Bank's in the report was downgraded by 6.1 percent. The lender posted a 32 YoY rises in profit at Rs 1,300 crore but missed its Street's estimates. NII saw an increase of 34.35 percent YoY to Rs 3,074.02 crore.  (Image: Company)
Axis Bank received an FY20E upgrade of 4.5 percent by Motilal Oswal. The stock in its Q3FY20 reported a consolidated net profit of Rs 2,073.4 crore.  (Image: Reuters)
Axis Bank received an FY20E upgrade of 4.5 percent by Motilal Oswal. The stock in its Q3FY20 reported a consolidated net profit of Rs 2,073.4 crore.  (Image: Reuters)
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