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  • Raymond Lifestyle shares surge 5.5% as MOSL initiates coverage with ‘buy’ rating, sees 35% upside

    Raymond Lifestyle shares surge 5.5% as MOSL initiates coverage with ‘buy’ rating, sees 35% upside

    Domestic brokerage house Motilal Oswal Financial Services (MOSL) initiated coverage on Raymond Lifestyle, a recent spin-off from Raymond Ltd, with a ‘buy’ rating and a target price of ₹3,200, suggesting an upside potential of over 35 per cent for the stock.

    Following the announcement, shares of Raymond Lifestyle surged more than 5.5 per cent in Monday’s trading session. MOSL projects that the company’s revenue and net profit will grow at a compounded annual growth rate (CAGR) of 11 per cent and 15 per cent, respectively from FY24 to FY27.

    Also Read | Top 5 stocks in the plastic and tyre recycling ecosystem

    “Although the valuation of Raymond’s Lifestyle (RLL) business has almost doubled since the demerger, the stock is currently trading at a relatively lower P/E and an EV/EBITDA (pre-Ind-AS-116) of 25x and 16x on FY26E, respectively. The valuation is significantly lower than that of our Coverage Universe and other retail and discretionary companies, which are valued at an EV/EBITDA of ~35-40x on FY26E. While RLL benefits from strong brand affinity, its valuation has been impeded by sluggish execution in the past (volatility in PAT growth over FY10-20). However, as RLL continues to exhibit a positive growth trajectory, characterised by revenue/PAT CAGR of 11%/15% over FY24-26E, we believe valuations could re-rate,” said the brokerage.

    “Additionally, we anticipate a return on invested capital (ROIC) of 24%, 26%, and 30% in FY25, FY26, and FY27, respectively. With improved FCF generation, RLL could look to increase shareholder returns through dividends,” it added.

    Raymond Lifestyle emerged as a standalone entity after the demerger from Raymond Ltd, positioning itself as a pure-play lifestyle company. With a strong presence in the men’s wear segment, RLL commands a significant market share of around 65 per cent in worsted suiting. Its portfolio includes a wide range of branded textiles, operating in both B2B and B2C segments. The company also boasts several popular apparel brands, such as Park Avenue, ColorPlus, and Ethnix by Raymond, catering to formal, casual, and ethnic wear categories. Notably, RLL holds about 5 per cent of the men’s wedding wear market, showcasing its prominence in the sector.

    Also Read | Dolly Khanna pares stake in THIS multibagger stock. Shares hit 5% lower circuit

    In terms of stock performance, Raymond Lifestyle was listed on the NSE on September 5 at ₹3,020. The stock has gained over 17 per cent from its post-listing low of ₹2,081. However, it still trades below its listing day close of ₹2,869. Despite this, analysts remain optimistic about the stock’s future, supported by the company’s solid brand presence, wide distribution network, and ambitious growth plans.

    Investment Rationale

    MOSL highlighted several growth drivers for RLL, including its fast-paced expansion in branded apparel, targeting a doubling of its exclusive brand outlets (EBOs). The company is also positioned to benefit from Bangladesh+1 and China+1 trends in B2B garmenting, it said. Additionally, the launch of new categories like innerwear and sleepwear as well as a shift towards casualisation and premiumisation of its product portfolio are expected to contribute to its growth, said MOSL. Enhanced sourcing efficiencies due to scale could further improve its operating leverage.

    In recent years, Raymond Group has undertaken strategic initiatives such as demerger of its lifestyle and real estate businesses, restructuring of its engineering division, and sale of its FMCG business. These moves have streamlined the group into distinct listed entities focused on lifestyle, real estate, and engineering, aimed at enhancing shareholder value. Each business is professionally managed with a focus on maintaining a net cash balance sheet, optimising costs, and effectively managing working capital.

    Also Read | Dharmesh Shah recommends these two stocks to buy today – October 21

    Despite historically facing challenges related to growth, profitability, and a high working capital cycle, RLL has made significant progress, the brokerage said, adding that it has improved its working capital management, achieved a net cash position ahead of schedule, and enhanced its pre-IFRS EBITDA margins through store rationalisation and cost control measures. 

    Under the leadership of Sunil Kataria, former GCPL executive, RLL’s margins have improved to approximately 12 per cent in FY24, up from single-digit levels between FY17 and FY20. Going forward, RLL is focused on accelerating growth in branded apparel, expanding its network, and introducing new categories such as sleepwear and innerwear, alongside scaling up its Ethnix by Raymond brand.

    Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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  • Antonio Brown Tears Into ABC’s Monday Night Football Coverage & Trolls Joe Buck and Troy Aikman

    Antonio Brown Tears Into ABC’s Monday Night Football Coverage & Trolls Joe Buck and Troy Aikman

    Just when you thought Antonio Brown had run out of targets, he’s back with a splash – or should we say, a tinkle? The former NFL star turned social media jester has set his sights on the dynamic duo of Monday Night Football, Joe Buck and Troy Aikman.

    On September 30, 2024, Brown dropped a meme bomb that had football Twitter in stitches. Picture this: two gents standing shoulder-to-shoulder at a urinal, hands on each other’s shoulders. The caption? “Joe Buck and Troy Aikman bathroom break during the commercial.” It’s the kind of locker-room humor that makes Brown a skilled jabber!

    But this isn’t Brown’s first rodeo when it comes to stirring the pot. He’s made a habit of taking potshots at NFL bigwigs like a kid with a slingshot in a china shop. From coaches to commentators, no one’s safe from AB’s digital darts.

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    Remember when he went after his former coaches Mike Tomlin and Bruce Arians? Brown lit up Instagram faster than a Christmas tree, calling out Arians for doubting his skills and giving Tomlin the business for benching him as a rookie. It was like watching a highlight reel of grudges.

    And let’s not forget his clash with ESPN’s loud mouth-in-chief, Stephen A. Smith. Brown took to social media faster than Smith could say “blasphemous,” questioning the talking head’s credibility. It was a war of words that made regular sports debates look like tea parties.

    Buck and Aikman aren’t new kids on the block?

    While Brown’s been busy playing social media Picasso, Buck, and Aikman have been painting their masterpiece in the broadcast booth. These guys have been calling games together longer than some rookies have been alive – 22 seasons and counting!

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    They’ve surpassed the legendary Pat Summerall and John Madden, becoming the NFL’s longest-tenured broadcast team. It’s like they’ve been married to each other’s voices, for better or for worse, in TD and fumble.

    Their move to Monday Night Football in 2022 wasn’t just a change of scenery – it was like watching your favorite band switch record labels. ESPN rolled out the red carpet, signing them to multiyear deals.

    The results? As impressive as a last-minute touchdown drive. Last season, they averaged around 15.4 million viewers – up 14% from 2022. It’s like they’ve given Monday Night Football a shot of adrenaline straight to the ratings.

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    But with great power comes great… well, you know the rest. Their high-profile gig has made them prime targets for critics and comedians alike. Brown’s bathroom break meme is just the latest in a long line of jabs thrown their way.

    As Buck himself put it, “The fact that even recently ESPN regarded our work that they wanted both of us just means a lot.” Little did he know that meant a lot to the meme-makers of the world, too.

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  • Presidents Cup Runs Into Serious Trouble With Football & Golf Fans Over ‘Awful’ Coverage Issues

    Presidents Cup Runs Into Serious Trouble With Football & Golf Fans Over ‘Awful’ Coverage Issues

    How do you expect the President’s Cup to be? Well, for the fans who are planning to enjoy the tournament on the streaming apps and website, it’s certainly not looking good. Even before the conclusion of the first round of the action at the Royal Montreal Club, they bashed the tournament with negative comments of their own.

    A few hours ago, NUCLR GOLF shared a post on X asking, “Is the President’s Cup boring?” Surprisingly, “34% of golf fans won’t be tuning in this week,” highlighting that they don’t find the tournament interesting.

    Following that, the PGA Tour shared a post on X announcing the start of the tournament, saying “The @PresidentsCup has arrived.” As it happened, the tournament was hit with another criticism, and this time fans were blaming the broadcasters. Golf fans with Peacock subscriptions are disappointed because they can’t watch the first two rounds of the Presidents Cup. At the same time, football fans are upset that NBC is broadcasting the Presidents Cup instead of the Louisville vs. Notre Dame football match, which is scheduled to start on Saturday at Notre Dame Stadium.

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    Not only that, this scattered broadcast might also affect the viewership. The PGA Tour already experienced an approximately 20% viewership decline, as per Rory McIlroy. Viewership has been taking a toll this season, and people have their theories about it. Some say it is because of the dissection of PGA Tour and LIV Golf. Well, whatever the reasons are for falling viewership, fans are not happy with what is happening at the Presidents Cup.

    What do fans have to say about the Presidents Cup’s broadcast?

    This fan talked about the decision when NBC decided to stream the Presidents Cup and Peacock isn’t streaming the first two rounds of the tournament, saying “President’s Cup Golf would be better on Peacock and Louisville-Notre Dame would be better on NBC.” Another frustrated fan added “Not on @peacock, which is a joke,” highlighting that Golf Channel streams most of the golf tournament, and suddenly they decided not to stream the first two rounds of the biennial event.

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    The premium plan of Peacock costs $7.99, and Premium Plus costs $13.99/month. Most of the fans buy these just to watch golf without any hassle. One fan asked a question about the broadcast service, saying, “NBC spent years trying to get us all to pay for Peacock, and then… doesn’t put the first two days of the President’s Cup on Peacock. Such a joke. NBC’s sports coverage is consistently awful.“

    Another fan sarcastically said, “Thanks! Looks like if you don’t have traditional cable and the Golf Channel. No Presidents Cup for you! I have Pcock and ESPN+ but only weekend the P-Cup is listed. Will see come 11:30am. “ This year the Masters also announced an additional hour of main broadcast coverage on Saturday, as well as two extra hours pre-broadcast on Paramount+, witnessing that fans expressed similar frustration on broadcasting companies, saying, “Looking forward to using 9 apps to watch a few rounds of golf.” 

    One fan talked about its impact on TRP and ratings, saying, “Brutal. Ratings will obviously take a hit. Also, not great for ACC as you would want Louisville getting attention. Oh well… bags still following to South Bend.” The PGA Tour already experienced a significant decline in viewership ratings. To improve the condition, pros like McIlroy and DeChambeau are getting ready for the made-for-TV match, however, even if that happens, if fans are disappointed with the broadcast, it might not help to increase the ratings.

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    The Presidents Cup faced criticism even before the first day ended. How do you think the rest of the tournament will unfold? Feel free to share your thoughts in the comments below!

     

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  • Term Insurance for the Self-Employed-Tailoring Coverage to Fit Your Lifestyle

    Term Insurance for the Self-Employed-Tailoring Coverage to Fit Your Lifestyle

    These are trying times. Diseases turn into pandemics. Accidents happen every 2 hours. While most people are engrossed in their phone screens and social media, disabilities and untimely demise have become commonplace due to overlooking safety standards. 

    Everything is now a safety hazard, but that doesn’t mean you need to give up on your way of life, business, or family’s lifestyle. That is why there are term insurance plans, a boon that helps protect your interests during your life and takes care of your family in case of your untimely death.

    What are the different types of advantageous term insurance for self-employed?

    Term insurance comes in many forms. Here are the selections you need to keep in mind to make an informed decision:

    1. Endowment Plans:
      These are beneficial term insurance for self employed people as the premium paid earns interest. In case of early death, the family receives the sum assured, but if you survive the tenure, you get your premiums with a rate of interest.
    1. ULIPs:
      With ULIPs, your premiums are invested in the market. That way, you receive a certain amount of interest from your investments monthly, quarterly, or yearly. It is a life insurance plan that pays death benefits to your family and allows you to enjoy your money during the tenure of your term insurance policy.
    1. Increasing Term Insurance:
      In this term insurance for self-employed, the sum assured increases every year. You need to determine the percentage increase as well as if your rate of premium will remain the same with every increment.
    1. Decreasing Term Insurance:
      These policies usually offer loan benefits. Every year, a certain sum of money is set aside from your sum insured to repay the loans. That way, in case of an unfortunate death, your family will have fewer loans and mortgages to pay with the death benefit that they receive.
    1. Money-back plans:
      These term insurance for self-employed are highly beneficial as they pay you a predetermined sum of money at regular intervals during the tenure of your policy. The remaining sum from your premium is settled if you survive the tenure. However, in cases of untimely death, the family still receives the entire sum assured.
    1. Term Insurance with Return of Premium:
      If you survive the tenure of your term insurance plan, then all the premiums you paid over the years are returned to you.

    How to choose the best term insurance plan for you and your family

    There is a myriad of options to choose from, and sometimes it can be overwhelming to decide which term insurance for self employed individuals best suits your needs and that of your family. Here are a few easy steps to follow:

    1. Start by determining your family’s financial needs. Factoring in an average rate of inflation, how much sum assured do you believe they would need to pay the bills, mortgages, loans, etc., as well as maintain the household for a couple of years at least? You need to plan for a little extra time because it would take a while for them to find a different source of income.
    1. Next, you need to consider the tenure terms.  If you don’t see an immediate danger, then you can fix term insurance for self-employed with a longer tenure. However, if you are boggled by the uncertainties of life and the dangers of accidents, diseases, etc., you can choose a shorter tenure. After all, the beauty of term insurance is that you can insure yourself anywhere from 10-100 years at a reasonable premium rate. You can use a term insurance calculator to determine the tenure based on your sum assured and the rate of premium you find feasible.
    1. Speaking of the premium rate, if the tenure and sum assured are your priorities, feed those into the term insurance calculator to determine the premium you will need to pay. 
    1. Now, consider your lifestyle and habits. How likely is it that you may develop a chronic illness? If you feel that the threats of chronic diseases are looming over your head, look into add-ons or riders that offer relief in such cases. You can add the clauses to the term insurance calculator for a revised premium rate.
    1. After taking care of the necessities, consider if you want to keep earning money from your term insurance plans. Yes, that is a feasible mode of income and a real possibility. All you need to do is consider the available types of plans and opt for ULIPs, money-back plans, or endowment plans. These offer real-time returns on your premium investments. Therefore, you get to enjoy the money you put aside during your life.
    1. You can also opt for increasing or decreasing term insurance plans for self-employed. These either help your family in case of early, unfortunate death, or they help you relieve yourself and them of loans.
    1. One of the best term insurance for self-employed is the return of premium. If you survive the tenure of your term insurance plan, you get back the entire money you invested in premiums. You can use the funds to reinvest in another term insurance plan, opt for market investments, pay your loans and mortgages, or start a fund for your children’s higher education or wedding. You can do whatever you need to to relieve financial stress.

    Use a term insurance calculator to determine the premium you will be able to pay and modify the nuances of your policy accordingly. If paying the premium isn’t such a big headache, opt for as much coverage as possible. You will be surprised at how many benefits you and your family can get from thorough financial planning with term insurance for self-employed.

    Conclusion

    Self-employed individuals have massive responsibilities without a fixed and steady source of income from jobs. It is not a disadvantage, but rather an opportunity to plan your life and that of your family’s with returns on investment.

    Choosing the right kind of term insurance plan enables you to increase your monthly income with ULIPs or periodic income with money-back plans and endowment plans. Even the decreasing term insurance for self-employed inadvertently increases your income by reducing your debt. On the other hand, increasing term insurance helps secure your family’s lifestyle. And let’s not forget that if you live a healthy and careful life, you could get all your investments back if you have term insurance with a return of premium.

    So, consider your finances, use a term insurance calculator, and determine the best term insurance for self-employed individuals to maximize your benefits.


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