Brokerage Radar: Sectoral investment ideas by CLSA

>> 3QCY19 results much better than our forecast

>> Weak volume growth as well as realisations

>> Raises EPS estimates 3-4% and maintain a BUY rating

>> Pickup in demand as well as cement pricing are key drivers of the stock price

>> Impact of tough macro conditions is evident from a slight volume decline

>> ACC has yet to take a call on the income tax rate and hence there has been no change in the rate this quarter

>> No green shoots yet seen in the auto sector

>> Dealer survey suggests muted demand in first half of the festive season

>> Dealer survey shows subdued demand in first half of festive season

>> Demand pickup in the balance of festival season crucial to liquidate inventories

>> Remains cautious on Indian autos

>> Has SELL rating on 70% of our Indian auto coverage

>> Moderation in growth for September at 8.2%, TTM growth at 10.5% YoY

>> Moderation in YoY growth to 8%, mainly due to slower growth in acute therapies

>> Glenmark/Dr Reddy/Ipca grew ahead of industry; weak month for Torrent/Cipla

>> Expects 13% YoY growth in India for 2QFY20 for our coverage universe