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Bhai log, aaj market mein do badi khabrein hain!
Pehli, Indus Towers ke liye ek mast update. Teen saal baad company phir se dividend dene wali hai! Is baar FY26 ka poora free cash flow shareholder ko milega, matlab ₹14 per share! Ye sab isliye ho raha hai kyunki company ka cash flow ab stable ho gaya hai aur operations bhi mast chal rahe hain. Telecom operators 5G ke liye tower lagwane mein mast hain, isliye Q4 mein tower addition 4,892 ho gaya, jo pichle quarter se kaafi zyada hai. Vodafone Idea ko AGR relief milne se bhi Indus Towers ka risk kam ho gaya hai. Company ka balance sheet bhi strong hai, net cash ₹4,970 Cr hai. Agle 2 saal mein dividend yield 5-6% tak ja sakta hai. Aur haan, ye log Africa mein bhi business badha rahe hain, Zambia mein license mil gaya hai, Uganda aur Nigeria mein bhi plans hain. Bas isme thoda execution risk hai. Haan, Q4 FY26 mein net profit 0.8% badh kar ₹1,793 Cr hua aur revenue 4.8% badh kar ₹8,101 Cr. Lekin full year FY26 mein profit 28.1% gir gaya tha, revenue 7.9% badha tha. Ye operating expenses aur fuel cost ka asar tha. Analysts mostly 'Hold' rating de rahe hain.
Ab baat karte hain TVS Motor ki. Ye company toh bhaagti hi jaa rahi hai! Dusre 2-wheeler brands ko piche chhod rahi hai. Naye models aur strong brand ki wajah se market share badha rahi hai. Africa aur South Asia mein bhi exports mast chal rahe hain. Q4 FY26 mein toh kamaal kar diya! Consolidated revenue 30.4% badh kar ₹15,053 Cr ho gaya, volume 28% badha aur average selling price 5% upar gaya. EBITDA toh 26% badh gaya. Electric 2-wheeler mein toh 25% se zyada market share hai, aur ab 3-wheelers mein bhi aa gaye hain.
Par yahan ek bada 'BUT' hai. Stock ka valuation kaafi high hai. P/E ratio 51x se 63x tak chal raha hai, jo industry growth se bahut zyada hai. Bernstein ne kaha hai ki 'limited margin for error' hai. Commodity prices bhi badh rahi hain (steel, aluminum, crude oil). Exports par zyada depend karna bhi thoda risky hai.
Sector ki baat karein toh telecom infra ke liye 5G rollout bahut achha hai, desh mein 85% population tak pahunch gaya hai aur 5.08 lakh base stations lag gaye hain. Dusri taraf, auto sector mein 2-wheeler ki growth kam ho sakti hai. Monsoon, commodity prices, supply chain issues ye sab challenges hain. Industry growth bhi FY27 mein 3-9% rehne ka andaza hai.