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19 October, 2018 1:42 PM Top 5 liquid schemes that saw highest AUM fall in September

Fears of a liquidity crunch following the IL&FS crisis hit the mutual fund industry in September. Cash plans or liquid funds were the worst hit Liquid funds category or cash plans saw its assets under management falling by a whopping Rs 1.25 lakh crore in September over August, according to data on Value Research. The industry also witnessed the highest 35

19 October, 2018 10:27 AM Buy Mindtree; target of Rs 1103: Cholamandalam Securities

In 2QFY19, Mindtree’s revenue grew by 7.1% QoQ to INR 17.5bn in line with our expectations of INR 17.6bn largely driven by volume (+6.3% QoQ) and INR depreciation. In USD terms, revenues grew by 2% QoQ. In constant currency terms, revenue grew by 2.4% QoQ. Revenue from Digital business grew by 3.3% QoQ contributing 48.1% to total revenues. EBITDA grew by 16.8% QoQ to INR 2.7bn in-line 40

19 October, 2018 10:21 AM Buy Mindtree; target of Rs 1210: HDFC Securities

Mindtree posted nearly in-line revenue and operating performance, while profit jump was supported by higher forex. Rev came at USD 246mn, 2.0/19.5% QoQ/YoY on 2.4% QoQ CC. EBITDA% stood at 15.4, +129bps QoQ supported by INR depreciation and APAT at Rs 2.06bn was supported by forex gain of Rs 403mn in 2Q vs Rs 191mn in 1Q. Maintain BUY with TP of Rs 1,210, 22x Sep-20E EPS supported 39

18 October, 2018 9:54 PM Deaths Of Gir Lions Spark Political Row In Gujarat

In a letter written to Vijay Rupani on the issue, Paresh Dhanani sought action against those responsible for not devising a proactive action plan to deal with Canine Distemper Virus (CDV), believed to be the main reason for the deaths. Alleging that the Gujarat government's lax attitude led to the death of 23 lions in Gir forest, Leader of Opposition 72

18 October, 2018 1:35 PM Punjab Farmers Hold Rail Roko Agitation, Few Passenger Trains Cancelled

The one-day 'Rail Roko' Rail Roko led to the cancellation of 5 passenger trains - Bhagtanwala-Khemkaran-Bhagtanwala, Amritsar-Qadian-Amritsar, Ferozepur-Jalandhar City, Jalandhar City-Amritsar and Amritsar-Jalandhar city. A few passenger trains were cancelled in Punjab today due to a rail roko agitation by farmers in support of their demands, including 42

18 October, 2018 10:23 AM Why Reliance Industries decided to pick-up stake in SkyTran

In recent times, Reliance Industries (RIL) has shifted its focus from traditional to futuristic businesses driven by advanced technology that could improve quality of life and make the business relevant for the future. In light of this, it had launched Jio services last year driven by VoLTE technology, an advanced technology to transfer calls over data networks 45

18 October, 2018 9:23 AM Buy AU Small Finance Bank; target of Rs 732: Cholamandalam Securities

AU SFB’s AUM grew by 65.6% YoY (16.7 %QoQ) to INR 202bn (above CSEC estimate of 57% YoY) with major contribution coming from, NBFC and MSME segments, which grew by 328% YoY and 67.6% YoY respectively. Retail assets grew by a healthy 57.8% YoY, with Wheels and MSME segments contributing 42% and 30% respectively to the overall AUM. Disbursements for the quarter 43

18 October, 2018 9:15 AM Hold Infosys; target of Rs 753: Arihant Capital

Revenues were Rs 20,609 crore for the quarter ended September 30, 2018, YoY growth of 17.3%; QoQ growth of 7.7%. Revenues grew sequentially by 7.7% in INR terms and 4.2% in constant currency terms. Digital revenues at $905 million (31.0% of total revenues),YoY growth of 33.5% and sequential growth of 13.5% in constant currency terms. Currently the stock 41

18 October, 2018 9:12 AM Accumulate Mindtree; target of Rs 1150: Dolat Capital

Dolat Capital recommended accumulate rating on Mindtree with a target price of Rs 1150 in its research report dated October 17, 2018. USD revenue grew 2% QoQ (2.4 % QoQ CC terms) to USD 246mn (DCMe: USD 247mn) led by 6.3% growth in volume while pricing declined by 4.3%. INR revenue grew 7.1% QoQ at ` 17,554mn (DCMe: ` 17,316mn) helped by rupee depreciation 48

18 October, 2018 4:02 AM Tata Group looks to pick up stake in troubled Jet Airways

Naresh Goyal’s Jet Airways is looking for an equity collaboration but Tata Sons seeks management control, according to a report. Tata Group, India’s largest business conglomerate, has initiated discussions to buy a large stake in the loss-making Jet Airways, people in the know told The Times of India. Naresh Goyal’s Jet Airways, which has delayed 53