Buy Wonderla Holidays Ltd For Target Rs.450.00 - Sharekhan

Key points

* Footfalls stood flat; higher ticket realisation and non-ticketing revenues drove top line in Q4: For Q4FY2016, Wonderla Holidays Ltd (WHL)’s revenues grew by 22.1% to Rs44.5 crore driven by 23% increase in the average ticket prices, while the footfall remained almost flat during the quarter. The ticket revenues grew by 21.4% YoY and

8/06/2016 12:30:15 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Tech Mahindra Ltd For Target Rs.700.00 - Angel Broking Pvt Ltd

Tech Mahindra posted sales of `6,884cr for 4QFY2016 (V/s `6,701cr in 3QFY2016), which is a QoQ growth of 2.7%. In US$ terms, sales came in at US$1,023mn (V/s our expectation of US$1,021mn), a QoQ growth of 0.8%. In terms of geographies, growth was driven by ROW (accounted for 24.7% of sales V/s 23.2% of sales in 3QFY2016). In terms of industry, growth was driven by BFSI (which accounted for 10.

8/06/2016 12:20:16 PM | Posted in Broking Firm Views - Long Term Report read full news
Neutral On GlaxoSmithKline Pharmaceuticals Ltd For Target Rs.3,150.00 - Motilal Oswal Securities Ltd

Results ahead of estimates; margin improvement a positive surprise

* GSK Pharma’s (GLXO) 4QFY16 sales increased by 12% YoY to INR6.9b (in line with our estimate) and EBITDA remained flat YoY at INR1.2b (18% ahead of our estimate), while PAT came in at INR1.1b (up 3% YoY and 9% higher than our estimate). Capacity constraints at GLXO’s Nashik

7/06/2016 2:36:39 PM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Ashok Leyland Ltd For Target Rs.114.00 - Prabhudas Lilladher Ltd

While Ashok Leyland’s (AL’s) volume growth was 36.4% YoY in 9MFY16 on a lower base, it was an impressive 28.7% YoY in Q4FY16 even when the base was higher. M&HCV sales growth is expected to sustain at a healthy rate in FY17 due to replacement demand, pre‐buying and fleet addition by operators. Boosted by strong volume growth and benefits of lower commodity costs, AL’s EB

7/06/2016 1:40:48 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Jubilant Life sciences Ltd For Target Rs.494.00 - India Nivesh Securities Ltd

Jubilant Life sciences(JOL IN)adjusted PAT was much lower than our expectation due to one‐time charge on account of product related intangibles. However top line & EBITDA was in line with our expectation. Pharma segment recorded sales growth of 10% y‐y mainly driven by growth in Rest of World markets while Developed market growth was muted. LSI segment sales were down 14% mainly due to

7/06/2016 1:32:53 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Ashoka Buildcon Ltd For Target Rs.155.00 - Religare Capital Markets Ltd

Mixed Q4; positives priced in – HOLD

ASBL’s Q4FY16 consolidated results (revenue/adj. PAT of Rs 7.3bn/ Rs 497mn) beat estimates on account of higher margins and other income, even as EPC execution at Rs 5bn (-19% YoY) belied expectations. The order book was healthy at Rs 41bn (2.4x FY16 EPC revenue) and ASBL is the lowest bidder (L1) for or

7/06/2016 1:24:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Sell NMDC Ltd For Target Rs.74.00 - Emkay Global Financial Services Ltd

Price outlook continues to remain subdued

 Continuous fall in iron ore prices weighed on performance again. Revenue stood at Rs 15.3 bn, down 46% YoY and flat QoQ (vs our est of Rs 16.4 bn) despite 18% QoQ rise in iron ore sales volume to 8.5 mt. this is due to 15% QoQ fall in realizations to Rs 1744/ tn 

EBITDA fell 62% YoY and 16% QoQ to

7/06/2016 1:16:59 PM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Shree Cements Ltd For Target Rs.13604.00 - Kotak Securities Ltd

* Company's revenues for Q3FY16 (Jan-Mar,16 period) grew by 28% YoY, slightly lower than our estimates. Growth in revenues was mainly led by 30% YoY improvement in cement volumes.

* Operating margins were in line with our estimates while net profit performance was led by volume growth, margin improvement and tax write back during the quarter

* At current market price of

7/06/2016 1:08:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy J Kumar Infraprojects Ltd For Target Rs.448.00 - SPA Securities Ltd

JKIL delivered lower than expected set of numbers as commencement of execution of JNPT NHAI orders got delayed owing to utilities shifting & land compensation issues. While revenues stood flat at INR 4039 mn, earnings improved by 4.7% led by 39.3% decline in interest income & 55.5% increase in other income. Order inflow/Order backlog as on FY16 stood at INR 15.7bn/32.1 bn. In addition,

7/06/2016 1:02:25 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy PI Industries Ltd For Target Rs.800.00 - Sharekhan

Key points

* Healthy growth in domestic business and margin expansion boost earnings:

For Q4FY2016, PI Industries posted a revenue growth of 9% YoY to Rs584.8 crore which was largely driven by a 6% growth in custom synthesis manufacturing (CSM) and 17% growth in domestic agri segment. Better operating efficie

7/06/2016 12:52:14 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Info Edge Ltd For Target Rs.1,050.00 - Religare Capital Markets Ltd

Strong revenue, margins drive EPS beat

INFOE reported above-expected Q4 revenues (+18% YoY to Rs 2.04bn) led by a 19% YoY growth in Naurki.com, even as 99acres.com grew by a weak 5% YoY. Consolidated margins at 30.5% jumped 830bps QoQ on lower discretionary marketing spends. Zomato grew at an impressive 91% YoY in FY16 but posted an EBITDA loss of Rs

6/06/2016 3:03:57 PM | Posted in Broking Firm Views - Long Term Report read full news
Reduce Thermax Ltd For Target Rs.651.00 - Emkay Global Financial Services Ltd

Recovery in capex still far away

Result highlights  Thermax Q4FY16 (standalone) operational results were below expectations - (a) 14%YoY dip in revenues to Rs12.9bn and (b) 160bps YoY fall in EBITDAM to 9% 

Order intake (consolidated) increased by 2% YoY to Rs15.2bn. Order backlog (consolidated) was down by 18% YoY to Rs46.6bn



6/06/2016 2:53:41 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Bajaj Finance Ltd For Target Rs.7740.00 - India Nivesh Securities Ltd

Bajaj Finance Limited (BFL) reported yet another quarter of above 35% Asset Under Management (AUM) and earnings growth. Net Interest Income at Rs 10.1 bn grew 37% yoy (slightly below expectation of Rs 10.6 bn). NIMs (Calc) declined 275 bps qoq to 9.3% due to seasonality of high disbursements in Consumer segment in Q3FY15. Operating profit came in at Rs 6.5 bn, up 41% yoy and inline with expecta

6/06/2016 2:46:33 PM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Mphasis Ltd For Target Rs.510.00 - Prabhudas Lilladher Ltd

Operating performance has likely bottomed out

`Mphasis’ Q4FY16 performance was largely in‐line; revenue miss offset by margin expansion. Revenue drop was led by BPO business and Digital risk. HP channel had some semblance of stability with ~1% QoQ drop in US$ revenues. HP is now only 24% of revenues, down significantly from ~66% in FY11. FY16 h

6/06/2016 2:40:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Escorts Ltd For Target Rs.196.00 - Kotak Securities Ltd

In a relatively weak demand environment, Escorts reported healthy operational performance in 4QFY16. Revenues for the quarter declined by 2% YoY to Rs8,047mn - marginally lower than our estimates. However, EBITDA margin at 4.8% improved meaningfully YoY and QoQ and was above our estimates. Adjusted PAT for the quarter was Rs295mn (post adding back Rs131mn exceptional loss) - strong growth YoY a

6/06/2016 1:46:18 PM | Posted in Broking Firm Views - Long Term Report read full news
Reduce Bank of India Ltd For Target Rs.75.00 - Sharekhan

Key points

* Higher provisioning dents profitability:

During Q4FY2016, Bank of India (BoI) reported a lacklustre performance as it posted a loss of Rs3,587.1 crore owing to provisions worth Rs5,470 crore (up 142.5% year on year [YoY]). The net interest income during the quarter was up by 12.0% YoY however the

6/06/2016 1:40:32 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Larsen & Toubro Ltd ForTarget Rs.1,700.00 - Angel Broking Pvt Ltd

Standalone numbers impress:

For 4QFY2016, Larsen & Toubro (L&T) reported an 11% yoy increase in the top-line to `21,061cr, which is slightly lower than our expectation. Revenue growth on a yoy basis reflects an 11.7%/ 33.3% increase in Infrastructure/ Power segment. EBITDA for the quarter came in higher than our expectation at `3,193cr. With s

6/06/2016 1:32:21 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Finolex Industries Ltd For Target Rs.465.00 - GEPLCapital Ltd

Company Snapshot  

Finolex Industries, a Pune based, India’s largest backward integrated pipe & fittings manufacturer player having 280,000 MT p.a production capacity. It is also one of the largest PVC resin manufacturer player with 272,000 MT p.a production capacity. FIL has two manufacturing plants viz Ratnagiri in Maharashtra and Masa

4/06/2016 5:46:35 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Garware Wall Ropes Ltd For Target Rs.460.00 - Angel Broking Pvt Ltd

Garware Wall Ropes (GWRL)’ 4QFY2016 results outperformed our estimates on the bottom-line front. The company’s top-line for the quarter de-grew by ~4% yoy. On the operating front, the company reported margin improvement, primarily on account of lower raw material costs. Further, on the bottom-line front, the company reported strong growth on account of a favorable operating performa

4/06/2016 3:10:09 PM | Posted in Broking Firm Views - Long Term Report read full news
SEB visit diaries-Karnataka Well managed; but needs supply as per plan, not UDAY - ICICISecurities

Reason for the report: Takeaways from visit to Karnataka SEB

In our ongoing series of SEB visits, we travelled to Bangalore to meet officials at the Karnataka SEB. The purpose of our visit was to understand the reasons behind the SEB’s strong financial and operational performance despite the proportion of agricultural consumption being one of

6/2/2016 2:00:15 PM | Posted in Broking Firm Views - Sector Report read full news
Punj Lloyd drops over 4% on bourses

Shares of Punj Lloyd fell over 4 per cent on Bombay Stock Exchange (BSE) after a UK court asked the infrastructure major to pay $26 million to International Finance Corporation (IFC) for their claims. In a regulatory filing to BSE, the company said that its subsidiary, Punj Lloyd Upstream have been ordered to pay by the High Court of Justice, Queen's Bench Division, Commercial Court UK,

Buy Zee Entertainment Enterprises Ltd. For Target Rs 273 By Ventura Securities

Outlook

Zee Entertainment Enterprises Ltd (ZEEL) continued to reported better than expected top-line growth of 33.8%. However, it recorded a decline in margins on account of increased investments (new channel launches – Zee Alwan & Zee Bangla Cinema and sports properties). ZEEL’s market share continues to remain robust led by strong showing o

UBS upgrades M&M to 'buy' on strong outlook

MUMBAI  - UBS has upgraded Mahindra & Mahindra to 'buy' from 'neutral' citing a "strong" outlook for profit margins despite falling tractor sales, as well as increased demand for utility vehicles.

The investment bank also expects a recovery in tractor sales to boost e

Gold demand surges as prices drop on strong rupee

MUMBAI  - Gold demand in India, the world's biggest buyer of the precious metal, rose significantly on Monday as a rebound in rupee slashed prices 1 percent ahead of the peak festival season.

The most-active gold for December delivery on the Multi Commodity Exchange was down 0.92 percent at 31