Accumulate Tata Consultancy Services Ltd For Target Rs.2,620.00 - Angel Broking

TCS has announced its 2QFY2017 results and has posted a 0.3% sequential growth in USD revenues to US$4,374mn (V/s US $4,441mn expected). Though the results came in below expectations, the EBIT margins and net profit came in much higher than expected. The constant currency (CC) growth stands at 1.0% qoq, while the volume growth is at 1.3% qoq. On the operating front, the EBIT margins came in at

22/10/2016 11:42:04 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Coal India Ltd For Target Rs.346.00 - Reliance sec

State-owned Coal India (CIL) has initiated special spot e-auction of coal for 20 million tonne (mnT) of the fossil fuel for various sectors, including power.
 

Schedule & Particulars

•         Dates: 20th, 21st, 24th & 25th of October 2016

•         Validity for L

22/10/2016 11:37:31 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Trident Ltd For Target Rs.104.4.00 - Ventura Sec

The newly commissioned capacities for manufacturing of terry towel and bed linen are expected to lead to improved product mix in favour of the high margin home textiles. Further the fiasco created over Welspun’s product quality has helped Trident secure newer clientele in the fast growing exports of home textiles. Further debottlenecking is expected to enhance paper manufacturing capaciti

22/10/2016 11:31:01 AM | Posted in Broking Firm Views - Long Term Report read full news
Reduce KPIT Technologies Ltd For Target Rs.135.00 - Reliance sec

While the street appears to be enthused on healthy revenue growth of KPIT Technologies (KPIT) in 2QFY17, we are concerned about two factors i.e. revenue growth sustainability (given that SAP & IES SBUs remain growth-challenged) and margins. Challenging macroeconomic scenario, disruptive trends like SMAC and company-specific issues have left little room for KPIT to effectively address these

22/10/2016 11:19:50 AM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Maruti Suzuki India Ltd For Target Rs.5906.00 – Kotak Sec

In recent times, MSIL has made major strides in establishing itself in the premium car segment. Unlike entry-level car segment, MSIL has big opportunity to gain market share in the premium segment. Rural demand is expected to witness recovery, post good monsoons this year. With strong presence in rural areas and dominance in the entry level car segment, MSIL will be the key beneficiary of rural

22/10/2016 11:01:47 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Infosys Ltd For Target Rs.1,249.00 - Angel Broking

Infosys’ numbers for 2QFY2017 have come in higher than our expectations. Its revenue posted a 3.5% sequential growth to US$2,587mn (V/s US$2,561mn expected). In constant currency terms (CC), the sales grew by 3.9% qoq, while the volume grew by 4.0% (1QFY2017 qoq growth was 2.2%). On the operating margin front, the EBIT margins grew by 78bp qoq to 24.9% (V/s 24.5% expected) on back of the

21/10/2016 12:05:56 PM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Time Technoplast Ltd For Target Rs.101.00 – Kotak Sec

We recently conducted a management and plant visit (Composite Cylinder and Industrial Packaging) at Time Technoplast’s site at Daman. The company is optimistic of its composite cylinder business and expects it to grow at a fast clip. This product has entry barriers as the technology is in the hands of few players including Time Technoplast.

The company expects its debt to remain

21/10/2016 12:00:05 PM | Posted in Broking Firm Views - Long Term Report read full news
Sell Havells India Ltd For Target Rs.300.00 – RCML

Tepid growth across segments; maintain SELL

HAVL reported a largely in-line Q2FY17 (revenue/PAT: Rs 15.6bn/Rs 1.46bn; +8.8%/+22% YoY) even as topline growth across segments remained tepid amid sluggish activity in the industrial and housing sectors. An increase in human resource and A&P investments limited expansion in margins, though management ex

21/10/2016 11:57:27 AM | Posted in Broking Firm Views - Long Term Report read full news
Positive On Havells India Ltd - Sharekhan

Key points ŠŠ

Operating performance subdued but higher other income lifts bottomline:

Havells India has reported healthy earnings growth of 15% YoY in Q2FY2017 on the back of higher other income. But, the company’s operating performance is largely subdued, with the Operating Profit growing by 8% YoY,

21/10/2016 11:51:01 AM | Posted in Broking Firm Views - Long Term Report read full news
Hold YES Bank Ltd For Target Rs.1,304.00 - Reliance Sec

YES Bank’s net profit grew strongly (+31.3% yoy & 9.5% qoq) to Rs8.1bn in 2QFY17, led by robust growth in NII and sequential decline in provisioning expenses (-21.8% qoq to Rs1.6bn). Its NII surged 30.5% yoy (9.8% qoq) to Rs14.5bn owing to strong growth in balance sheet and healthy NIMs (3.4%). Loan book grew by 38% yoy (4% qoq) to Rs1,102bn aided by 37.7% yoy (25.8% qoq) growth in bu

21/10/2016 11:48:08 AM | Posted in Broking Firm Views - Long Term Report read full news
Sell Havells India Ltd For Target Rs.400.00 - Kotak Sec

HIL reported Q2FY17 result in line with our estimates on the back of strong YoY growth across consumer appliances and lighting (ex-CFL) division. Operating margins expanded on back of favourable product mix and operating leverage.

We ascribe exit PER multiple of 32x and maintain target price of Rs 400 on Havells stock. In view of downside to our target price, we move recommendation to

21/10/2016 11:42:43 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy NIIT Ltd For Target Rs.110.00 - Emkay

Underlying thesis intact albeit a few hiccups on the way

* The company’s SCG vertical took a bit of a breather during the quarter ended Sept’16 although we remain convinced of its growth prospects ahead. Overlooking a few minor hiccups, we remain optimistic on the segment encouraged by the corrective measures undertaken by the Management fo

21/10/2016 11:29:17 AM | Posted in Broking Firm Views - Long Term Report read full news
Positive On RBL Bank Ltd - Sharekhan

Key points Š

Strong results helped by secular NII growth:

RBL Bank (RBL) has posted strong Q2FY2017 results, with Net Interest Income (NII) at Rs303 crore (up 59.5% YoY and 23.8% QoQ) and reported PAT at Rs90 crore (up 34.3% YoY but down 7.7% QoQ). RBL acquired a 9.88% stake in Utkarsh Microfinance Systems d

20/10/2016 12:00:50 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy NIIT Ltd For Target Rs.103.00 - Kotak Sec

NIIT's revenues grew by double-digits YoY (10%) for the second successive quarter in past 17 quarters and margins improved 37bps YoY. Revenues were marginally below our estimates and margins slightly above. CLS reported a solid 28% CC revenue growth QoQ, but S&C disappointed with a 6% de-growth YoY. CLS will likely continue to report strong growth in future quarters (albeit 2Q growth of

20/10/2016 11:56:32 AM | Posted in Broking Firm Views - Long Term Report read full news
Hold Bayer CropScience Ltd For Target Rs.4,340.00 - Emkay

* Bayer Q2FY17 revenues at Rs 11.6bn (+10% yoy) were below our estimates of Rs 12.3bn (after adjusting for Ind-AS). Dry spell during the second half of the quarter could have led to lower than anticipated revenue growth during the quarter

* Gross margins contracted 170bps yoy to 43% while EBITDA margins at 20.5% was down by 70bps yoy. Company reported 6% yoy growth in EBITDA to Rs 2.4

20/10/2016 11:47:47 AM | Posted in Broking Firm Views - Long Term Report read full news
Update On DCM Ltd - Sharekhan

Key points

* Casting business still languishing, value unlocking through demerger plays out well finally:

Our main themes of investment in DCM Ltd was to play the turnaround of its Auto Ancillary business (DCM Engineering, which was into manufacture of Grey Iron Casting) and value unlocking through the demerg

20/10/2016 11:35:35 AM | Posted in Broking Firm Views - Long Term Report read full news
Update on CCL Products India Ltd - RCML

Long-term structural drivers intact

We met Mr. C. Srishant, Managing Director of CCL, India’s largest manufacturer and exporter of instant coffee. Key takeaways: (a) Q2FY17 to be marred by plant shutdowns, but robust growth likely in Q3 and Q4. (b) Capacity expansion to drive a 15% volume CAGR over the next 2-3 years. (c) Continental brand growi

20/10/2016 11:25:24 AM | Posted in Broking Firm Views - Long Term Report read full news
Hold Havells India Ltd For Target Rs.409.00 - Emkay

Demand revival holds the key; Downgrade to Hold

* A lackluster quarter - Revenue rose 8.7% yoy to Rs14.5bn; the EBITDA margin came in at 14%; while the APAT surged 22% yoy to Rs1.5bn, aided by higher other income

* The company’s performance in the domestic market (across categories barring ECD) was moderate; Lightning grew (8.5% yoy) le

20/10/2016 11:13:59 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Alembic Pharmaceuticals Ltd For Target Rs.808 .00 - GEPL

Company Snapshot

Alembic pharmaceuticals Ltd. (APL) is the Indian pharmaceutical major head quartered in vadodara (Gujarat). The Company is vertically integrated with the ability to develop, manufacture and market pharmaceutical products, pharmaceutical substances and Intermediates. APL is one of the old pharmaceutical companies in India, incorporated

20/10/2016 11:03:43 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Muthoot Finance Company Ltd For Target Rs.420.00 - Dynamic Levels

The largest Gold Financing Company in India has been proving itself to be a real Diwali cracker. Muthoot finance share price has almost doubled in one year. The company has posted a stunning first quarter grabbing the attention of the Street and is expected to stun again with its best ever second quarter performance.

 

The Quarter Show:<

19/10/2016 5:55:15 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Sona Koyo Steering Systems Ltd For Target Rs.80.00 - Dynamic Levels

Investment Rationale:

* Sona Koyo’s plans to invest in future growth and with that objective the Company has invested in a land bank of 30 acres in Gujarat in order to be closer to the customer as most of the automotive customers expand in the state of Gujarat. The land is ideally located on main highway SH-7 and is about 12 km from the Suzuki pl

19/10/2016 5:19:36 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Gail (India) Ltd For Target Rs.600.00 - RCML

Faster turnaround calls for an upgrade

GAIL’s operating performance appears to be running ahead of our estimates, driven by an earlier-than-expected volume ramp-up in polymer production and a robust outlook on polymer realisations given rising oil prices. The recent domestic gas price cut is a key positive for its LPG segment. We upgrade our FY17

19/10/2016 3:59:56 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Gateway Distriparks Ltd For Target Rs.290.00 - Sharekhan

Key points

* Demand environment remains weak:

As per the macro-economic data for April to September 2016, the demand environment remains tepid. The Rail Container volumes grew by a modest 0.7% YoY, affected by lower domestic volumes (down 5.7% YoY). Further, Container volumes for the same period have grown by

19/10/2016 1:26:19 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy J Kumar Infraprojects Ltd For Target Rs.290.00 - Reliance Sec

J. Kumar Infraprojects Ltd. (JKIL) – a prominent EPC player especially in transportation segment – is set to hit the sweet spot by registering strong growth on the back of recently secured Mumbai Metro Projects and huge opportunities in transportation / urban infra segments in ensuing years. With three metro projects in Mumbai secured back-to-back worth over Rs67bn, JKIL’s ord

19/10/2016 12:31:01 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold UltraTech Cement Ltd For Target Rs.4,150.00 - Sharekhan

Key points

* Low-cost fuel inventory supports operating performance amid lower realisation:

For Q2FY2017, UltraTech Cement has posted a 2.3% YoY drop in revenue at Rs5,397.90 crore on account of muted volumes [up 0.8% YoY at 11.2 metric tonne (MT)] and lower average blended cement realisation (-3.1% YoY to Rs4

19/10/2016 12:18:38 PM | Posted in Broking Firm Views - Long Term Report read full news