ITC acquisition of Cafe Coffee Day, Bharat Forge Q1 weak results; all this and more on Moneycontrol Pro

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Acquiring Café Coffee Day may not be ITC’s cup of tea

A Ministry of Health and Family Welfare press release dated 21 August reiterated that a new image will replace the existing graphic warning on cigarette packs. On the same day, by coincidence, ITC’s interest in acquiring the Café Coffee Day chain was reported by Bloomberg. Both events are not entirely unconnected. One signals a gradual tightening of policy on smoking while the other represents India’s largest cigarette-maker’s attempt to diversify its business as the cigarettes segment is no longer what it used to be. So will CCD fit in with ITC’s strategy? Click here to read more.

 ITC acquisition of Cafe Coffee Day, Bharat Forge Q1 weak results; all this and more on Moneycontrol Pro

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Bharat Forge Q1 results weak as expected

Bharat Forge has posted a weak set of numbers for the first quarter of FY20 amid weakness in both the global and domestic automobile industry. Volumes shrank leading to a 9 percent decline in net revenues. Though there is weakness in demand, both in the domestic and international markets, there are short-term growth drivers such as consumers advancing their vehicle purchase before BS VI emission norms kick in. The firm’s focus on aerospace should also help. But is that enough reason to buy the stock? Click here to read our analyst’s recommendation.

In these troubled times, keep an eye on downstream gas companies

Downstream gas companies Indraprastha Gas and Mahanagar Gas did well in the June quarter. Softness in spot LNG prices boosted their margins. An increased focus on clean energy, a switch to natural gas and a substantial price differential between gas and petrol and diesel augur well for these firms. The key risk is the end of marketing exclusivity. For Indraprastha, marketing exclusivity in Delhi has ended. For Mahanagar, exclusivity has ended in Mumbai and Thane and will end in Raigad district in the next one year. So what should investors do? Click here to read our in-house research team’s report.

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Use code “FREEDOM” For more information, check out the Moneycontrol website or mobile app.

Updated Date: Aug 23, 2019 15:38:17 IST