Entertainment Network Limited: Check out the institutional research report of Q4 result of Entertainment Network Ltd. ENIL’s 4QFY18 was in-line but muted. Revenue declined 3.7% YoY owing to high base and cut in ad volumes.
A thorough analysis of company , industry and economy goes behind our stock ideas for you. With these picks, you may earn superior returns over a medium to long term period. Visit https://simplehai.axisdirect.in/share-stock-prices/nse/Ashok-Leyland-Ltd-31
A thorough analysis of company , industry and economy goes behind our stock ideas for you. With these picks, you may earn superior returns over a medium to long term period. Visit https://simplehai.axisdirect.in/share-stock-prices/nse/Ashok-Leyland-Ltd-31
Alembic Pharma Limited: Check out the institutional research report of Q4 result of Alembic Pharma Ltd. Alembic Pharma’s (ALPM) revenue grew 16%YoY to Rs 8.5bn in 4QFY18
Vaibhav Global Q1FY15: Outlook continues to remain positive; HoldIndiaNotes.com
As expected, the company reported sales growth of 20.3% yoy to Rs 301 cr, on account of sluggish TV Sales. Q1 is a temporary blip and Nirmal Bang expects the growth to be normalized from Q3 onwards (Q2 is seasonally weak quarter for the company). Hold
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Entertainment Network Ltd: Stock Price & Q4 Results Of Entertainment Network | HDFC securities
1. RESULTS REVIEW 4QFY18 24 MAY 2018
Entertainment Network
BUY
BUY with TP of Rs 827 at 30x FY20E FCFE per share.
ENIL is best poised to capture the recovery with its
strong radio footprint. Currently only 35 of its 76
stations contribute to profitability.
Consolidated Financial Summary
Historically ENIL’s margin stood at 31-33% in FY11-16.
▪ Near term outlook is positive led by low base effect,
increase in utilization of new stations and upcoming
elections should provide boosts to ad growth.
Himanshu Shah
himanshu.shah@hdfcsec.com
+91-22-6171-7315 Source: Company, HDFC sec Inst Research
HDFC securities Institutional Research is also available on Bloomberg HSLB <GO> & Thomson Reuters
(Rs mn) 4QFY18 4QFY17 YoY (%) 3QFY18 QoQ (%) FY16 FY17 FY18 FY19E FY20E
Net Sales 1,594 1,655 (3.7) 1,484 7.4 5,086 5,565 5,379 6,277 7,182
EBITDA 354 352 0.6 356 (0.6) 1,585 1,259 1,161 1,663 1,973
APAT 145 128 13.1 136 6.3 1,062 533 390 595 705
Diluted EPS (Rs) 3.0 2.7 13.1 2.9 6.3 22.3 11.2 8.2 12.5 14.8
P/E (x) 29.3 58.3 79.6 52.2 44.1
EV / EBITDA (x) 19.6 24.6 26.1 18.7 15.2
RoE (%) 14.0 6.4 4.5 6.5 7.3
INDUSTRY MEDIA
CMP (as on 24 May 2018) Rs 651
Target Price Rs 827
Nifty 10,514
Sensex 34,663
KEY STOCK DATA
Bloomberg ENIL IN
No. of Shares (mn) 48
MCap (Rs bn) / ($ mn) 32/463
6m avg traded value (Rs mn) 35
STOCK PERFORMANCE (%)
52 Week high / low Rs 1,008/613
3M 6M 12M
Weak end to feeble year
ENIL’s 4QFY18 was in-line but muted. Revenue Key highlights
declined 3.7% YoY owing to high base and cut in ad ▪ Legacy stations weak in FY18: ENIL legacy 35
volumes. EBITDA was flat YoY while APAT was up station’s revenue declined 12.5% (volumes -15%, rate
13% (RPAT -15% due to higher tax). +3%) in FY18 leading to 24% drop in EBITDA. This was
ENIL registered healthy revenue, EBITDA and due to economic slowdown, curb on advertising
earnings CAGR of 14/15/17% over FY13-16, despite minutes/hour by ENIL and issue with a client. With
zero inventory addition. Over FY16-18, ENIL’s majority of the issue behind ENIL, we expect legacy
operational stations expanded from 35 to 52. Yet, stations to register ~9% growth in FY19.
its revenue, EBITDA and PAT grew by 3/-14/-39% ▪ New stations drive growth: Decline in old stations
CAGR. This is primarily owing to economic was offset by growth in 17 new stations (Phase III,
slowdown and company specific issues in FY18. batch 1) launched in 2HFY17. Their revenue increased
Launch of new stations accentuated the decline. from Rs 0.25bn to Rs 0.73bn (14% of Consol). EBITDA
Led by economic tailwinds, higher utilization and loss declined from Rs 0.3bn to Rs 20mn. These
price increases in established stations, low base stations would be one of the key earning drivers as
effect and as new stations start contributing we their utilization improves from current 20-25%. We
Absolute (%) (5.4) (15.8) (10.6) expect ENIL to register healthy revenue and earning thus expect ENIL’s margin to expand from historic low
Relative (%) (7.0) (18.7) (25.0) CAGR of 15% and 34% from FY18-20E. of ~21% in FY18 to 27% in FY20 and to 31% by FY23E.
SHAREHOLDING PATTERN (%)
Promoters 71.2
FIs & Local MFs 12.4
FPIs 8.8
Public & Others 7.6
Source : BSE
11. Page | 11
ENIL : RESULTS REVIEW 4QFY18
RECOMMENDATION HISTORY
Date CMP Reco Target
20-Apr-18 693 BUY 827
24-May-18 651 BUY 827
Rating Definitions
BUY : Where the stock is expected to deliver more than 10% returns over the next 12 month period
NEUTRAL : Where the stock is expected to deliver (-)10% to 10% returns over the next 12 month period
SELL : Where the stock is expected to deliver less than (-)10% returns over the next 12 month period
1,000
950
900
850
800
750
700
650
600
TPENIL
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
12. Page | 12
ENIL : RESULTS REVIEW 4QFY18
Disclosure:
I, Himanshu Shah, CA, author and the name subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. HSL
has no material adverse disciplinary history as on the date of publication of this report. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific
recommendation(s) or view(s) in this report.
Research Analyst or his/her relative or HDFC Securities Ltd. does not have any financial interest in the subject company. Also Research Analyst or his relative or HDFC Securities Ltd. or its Associate may have
beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the Research Report. Further Research Analyst or his relative or HDFC Securities
Ltd. or its associate does not have any material conflict of interest.
Any holding in stock –No
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Mutual Funds Investments are subject to market risk. Please read the offer and scheme related documents carefully before investing.
13. Page | 13
ENIL : RESULTS REVIEW 4QFY18
HDFC securities
Institutional Equities
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Senapati Bapat Marg, Lower Parel, Mumbai - 400 013
Board : +91-22-6171-7330 www.hdfcsec.com