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RIL, Tata Power, Federal Bank, DCB Bank Q4 Reviews: HDFC Securities

RIL, Tata Power, Federal Bank, DCB Bank Q4 Reviews: HDFC Securities

<div class="paragraphs"><p>A screen displaying financial data graph is seen through a glass. (Photo: Nimisha Mekala /Source: Unsplash)</p></div>
A screen displaying financial data graph is seen through a glass. (Photo: Nimisha Mekala /Source: Unsplash)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Institutional Equities

Reliance Industries Ltd. - Our optimism on RIL is premised on recovery in the oil-to-chemical businesses; continued EBbitda growth in the digital business, driven by improvement in average revenue per user, subscriber addition, and new revenue streams; and potential for further value unlocking in the digital and retail businesses.

Tata Power Company Ltd, - During Q4 FY22, Tata Power completed the merger of Mundra into its standalone business and also secured the extension of mining lease in PT Kaltim Prima Coal for 10 years. Its consolidated revenue increased 18% YoY to Rs 119.6 billion, led by strong execution in the solar engineering, procurement and construction segment and incremental revenue across the renewable business (due to addition of 707 megawatt capacity).

Federal Bank Ltd. - Federal Bank’s Q4 FY22 earnings missed our estimates, largely on account of accelerated absorption of family pension expenses, but these were partly offset by multi-quarter low credit costs (20 basis points).

DCB Bank Ltd. - DCB Bank’s Q4 FY22 earnings beat estimates due to lower credit costs (1% annualised), better loan growth (up 12% YoY) and margin reflation.

Click on the attachment to read the full report:

HDFC Securities Institutional Equities Q4FY22 Result Updates.pdf

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