Mint ST : 2019-02-11

FRONT PAGE : 4 : 4

FRONT PAGE

THE MINT METRIC by Bibek Debroy Why far-flung Shillong To separate right from wrong? To find the question and the answer From the lancer and the prancer, We will now merrily have to go along. Seeding the venture How did it come about? We have raised $30 million till date. Besides Beckers, our investors include Singtel, New Science Ventures, HERE Technologies and Iris Capital. Headwinds Sep 2014 FUND SPEAK ₹77,623 crore The revenue the Indian advertisement industry is expected to earn by 2020, compared with ₹55,960 crore in 2017, according to a report by Dentsu Aegis Network. “This growth will be driven by the smart phone revolution and subsequent spends on digital advertising,” the report stated. Digital media spends currently contribute to 15% of the total advertising industry and are expected to reach 24% of the total market by 2020. REDUCE PNB LUPIN SBI ₹71.25 ₹830.40 ₹285.05 CURRENT PRICE CURRENT PRICE CURRENT PRICE TARGET PRICE TARGET PRICE TARGET PRICE ₹77 ₹1,160 ₹370 State Bank of India’s (SBI) Q3 results beat our estimates on all counts. It saw strong loan growth, more improvement in margins, lowerthan-expected slippages and higher provisioning coverage. PNB reported a PAT of `₹2.4 bn against our expectation of a loss of `₹9 bn), primarily due to lower NPA additions. It’s yet to improve capital levels to boost growth momentum. We upgrade the stock to ‘reduce’. Lupin’s Q3 revenues and Ebidta margin were in line with our expectations. Lupin’s revenue grew 13% y-o-y, margin declined 60 basis points to 16.7% and net profit fell 14% y-o-y. CENTRUM BROKING DART RESEARCH CENTRUM BROKING PEANUTS by Charles M. Schulz

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