Just about everyone in the market feels share prices are overvalued, and that market looks ripe for a correction. But what matters is what people do and not what they say or think. And right now, most people seem happy to hold on to their shares, never mind expensive valuations.
Logistics
Green shoots seem to be emerging for surface operators following a tepid H2FY24, as GST e-way bill data saw 17 percent YoY growth in May 24 (vs. 3-month rolling average of 15 percent), writes Anshul Agrawal of Emkay Global. However, the turnover of drivers in the run-up to the general elections could pose execution-related challenges for some fleet operators.
Quick service restaurants (QSR)
Checks across various QSR categories suggest demand trends have remained broadly stable and similar to what was seen in recent quarters, writes Mehul Desai of JM Financials in his earnings preview note. While seasonality led uptick in sales per store is seen in 1QFY25 versus 4QFY24, however, there is no material acceleration in same store sales across various QSR categories, baring some improvement seen in the pizza category during the quarter, he says.
Titan Co (Rs 3,272.50, -1.90%)
Kotak Institutional Equities downgraded the stock to ‘reduce’
