CEAT Q4 cons net dips 32.5% at Rs 66 cr

CEAT, a flagship company of the RPG Group, on Friday reported a 32.5 per cent decline in its consolidated net profit at Rs 66 crore for the fourth quarter ended March 31, 2017. The company had posted consolidated net profit of Rs 98 crore during the same quarter last year,” said CEAT in a filing to Bombay Stock Exchange.

The consolidated net sales of company rose by 5.2 per cent

Accumulate Kesoram Industries Ltd For Target Rs.210.00 - Religare Sec

Investment Rationale

* Incorporated in 1919, Kesoram Industries (KIL), is a BK Birla Group company and is engaged in the manufacturing of tyre, rayon and cement. Both their brands Birla Tyres (Tyre division) and Birla Shakti (Cement division) are well recognised brands in the sector.

* Lower rubber prices and pick up in auto sector are the ma

22/04/2017 4:30:11 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Apollo Tyres Ltd For Target Rs.270.00 - Sharekhan

Key points

Commissioning of Hungary plant and receding threat from Chinese imports to boost topline:

Apollo Tyres (ATL) recently commenced operations at a greenfield facility in Hungary (Eastern Europe). The plant is already certified by leading OEMs for supplies and ATL can serve the OEMs through this new pla

21/04/2017 3:38:43 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Ceat Ltd For Target Rs.1,406.00 - Motilal Oswal

* We expect revenue to grow 2% YoY (QoQ up 6%) to INR16.5b in 4QFY17. Revenue growth will be subdued on account of volumes decline in Truck and Bus segment, and a fall in realizations.

* Margins are likely to contract 230bp YoY to 9% on account of volatility in raw material prices. EBITDA is expected to decline 19% YoY to INR1,488m.

* Thus, we estimate adjusted PAT at INR777

14/04/2017 10:50:18 AM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate JK Tyre and Industries Ltd For Target Rs.170.00 - Religare Sec

Investment Rationale

* Incorporated in 1951, JK Tyre and Industries Ltd is one of India’s leading private sector conglomerates with a multi-product, multi-location & multi-business operations.

* The company’s manufacturing operations comprise 12 modern plants strategically located across India. The company has 141 JK Tyre sell

1/04/2017 11:19:34 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Apollo Tyres Ltd For Target Rs.245.00 - Kotak Sec

We recently met the company. With new capacities coming on stream in India and Europe and demand environment improving, APTY is expected to witness healthy growth in revenues over the FY18-FY19. Further, ramp-up in the two wheeler space will also support growth for the company. Falling imports from China is positive for the truck/bus tyre demand. After witnessing a sharp increase, natural rubbe

30/03/2017 2:53:53 PM | Posted in Broking Firm Views - Long Term Report read full news
MRF stock touches fresh high of Rs 60,140 per share

The scrip of MRF, the country's largest tyre manufacturer, on Monday touched a fresh high of Rs 60,140 per share during the mid-afternoon trade session.

The company's stock, which is the most expensive in terms of share price on the BSE, surged past the mark of Rs 60,000 per share for the first time, to touch a new 52-week high during the day's trade.

The scrip,

Buy Apollo Tyres Ltd For Target Rs.238.00 - Sharekhan

Key points

* Demand outlook improves as threat from Chinese imports set to recede:

Apollo Tyres (ATL) is likely to witness a revival in demand in the Truck & Bus replacement segment (accounts for ~39% of standalone and 25% of consolidated revenue). In a recent order, the US Department of Commerce has issued a not

23/03/2017 2:21:18 PM | Posted in Broking Firm Views - Long Term Report read full news
Commerce Ministry to meet tyre cos to discuss anti dumping duty on Mar 28

aking forward the probe for possible imposition of anti dumping duty on imports of a certain kind of radial tyres, the Commerce Ministry has called a meeting of the domestic players on March 28, reported PTI. Automotive Tyre Manufacturers' Association (ATMA) had filed the application on behalf of the domestic producers -- Apollo Tyres, J K Tyre Industries and Ceat Ltd for the investigations

Buy JK Tyre & Industries Ltd For Target Rs.144.00 - Religare Sec

JK Tyre & Industries Ltd

JKTYRE, after a recent breakout from its mid and short-term moving averages (100/50 EMA) on daily chart, has witnessed a marginal pause, offering fresh opportunity to re-enter. Hence, we suggest traders can accumulate as per the mentioned levels.

20/03/2017 12:07:43 PM | Posted in Broking Firm Views - Short Term Report read full news

Derivative Ideas Apollo Tyres Ltd For Target Rs.7.00 - Religare Sec

Derivative Ideas

APOLLOTYRE shed 1.5% of open interest as short covering. Call buying (unwinding by writers) was seen at 190 & 200 strikes and put writing was seen at 185 & 175 strikes. On charts, it has created a buying pivot on daily as well as on weekly charts. We recommend buying APOLLOTYRE 190 CE as per levels mentioned be

15/03/2017 11:36:05 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Apollo Tyres Ltd For Target Rs.12.00 - Religare Sec

Derivative Ideas

APOLLOTYRE added around 1.60% of open interest as long positions. Call buying was seen at 195 strike and some put writing was seen at 185 & 180 strike. We suggest buying 195 CE as per mentioned levels.

 

Strategy:

BUY APOLLOTYRE 195 CE AT 4.50-5, SL 1.80, TARGET 12

1/03/2017 9:49:45 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Apollo Tyre Ltd For Target Rs.199.00 - Reliance Sec

Technical Research

* The stock is making higher bottoms on daily charts in the past days, with crossover of short term averages confirming the uptrend and we believe the stock risk reward is very favorable.

* The key technical indicators and RSI are showing signs of reversal on the upside with strong volume in the past few days poised for a b

28/02/2017 10:48:45 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy CEAT Ltd For Target Rs.1,275.00 - RCML

Volumes on a roll but near-term stress on margins CEAT posted a strong 10% YoY growth in its Q3FY17 volumes, leading to above-expected revenues of Rs 14bn (RCMLe 12bn). However, EBITDA margins slid 200bps QoQ to 11% (RCMLe 11.5%) on higher RM prices and an adverse product mix. Adj. PAT stood at Rs 838mn, down 25% YoY. We cut our FY18/FY19 EPS by 6%/7% to build in rising RM pressures, and roll o

24/02/2017 12:03:17 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Apollo Tyres Ltd For Target Rs.180.00 - Emkay

* APTY Q3 revenue/EBITDA has come in 11%/8% above consensus estimates largely on account of better performance from European business.

* EBITDA margin came in at 14.4% (-280bps YoY, +20bps QoQ) against consensus expectation of 14.7%. Standalone EBITDA margin came in at 14.6% (-130bps QoQ) on account of higher raw material costs.

* Management believes a 6-7% price hike is ess

24/02/2017 11:50:51 AM | Posted in Broking Firm Views - Long Term Report read full news
Accumulate Apollo Tyres Ltd For Target Rs.196.00 – Kotak Sec

APTY's results came in ahead of expectation on account higher than expected revenues from the European business. Consolidated revenues grew by 17% YoY. EBITDA margin contracted YoY and QoQ to 14.4% on account of rise in raw material cost. However, high other income and lower tax rate translated into 6% growth in PAT, despite 2% decline in EBITDA. Going ahead, we expect there various drivers

13/02/2017 11:18:34 AM | Posted in Broking Firm Views - Long Term Report read full news
MRF profit plummets 30.7% at Rs 288.08 cr in December-quarter

Chennai-based tyre maker MRF Ltd on Friday reported a drop of 30.7 per cent in its standalone net profit after taxes (PAT) at Rs 288.08 crore for the quarter ended December 31, 2016, due to higher expenses. “The standalone net profit of the company stood at Rs 415.59 crore during the same period a year ago,” MRF Ltd said in a filing to the BSE on February 03, 2017.

However

Tyre, rubber industries saddened with Union Budget

Tyre manufacturers and MSMEs in rubber industry have expressed disappointment over the Union Budget not addressing their demand to remove inverted duty structure on tyre and rubber. While hailing the increased allocation for infrastructure and road sector in the Union Budget, the tyre industry expressed concerns over exclusion of rubber and tyres in the list of items on which duty inversion has

Apollo Tyres net up 6% at Rs 295.69 cr in Q3

Leading tyre manufacturer Apollo Tyres Ltd on Wednesday reported a rise of 6 per cent in its consolidated net profit after taxes (PAT) at Rs 295.69 crore for the October-December quarter ended December 31, 2016. “The consolidated net profit of the company stood at Rs 279.02 crore during the same period a year ago,” Apollo Tyres Ltd said in a filing to the Bombay Stock Exchange on Fe

Buy Ceat Ltd For Target Rs.85.00 - Religare Sec

Strategy: CEATLTD added around 13% of open interest as long positions. Daily vwap is around 1210 levels. On charts, it is trading on verge of trendline breakout on daily charts, it is also trading above short term as well as long term moving averages on same time frame. We suggest buying CEATLTD 1220 CE as per levels given below.

 

Strategy:

28/01/2017 9:58:27 AM | Posted in Broking Firm Views - Short Term Report read full news
Accumulate JK Tyre & Industries Ltd For Target Rs.160.00 - Religare Sec

Investment Rationale

*  The company is a part of the century-old JK Organisation, one of India’s leading private sector conglomerates with a multi-product, multi-location and multi-business operations.

*  The company’s manufacturing operations comprise 12 modern plants strategically located across the country – My

14/01/2017 12:14:02 PM | Posted in Broking Firm Views - Short Term Report read full news
MRF signs MOU to setup plant in Gujarat

MRF Ltd has said that the company has signed a Memorandum of Understanding [MOU] with the Government of Gujarat expressing its in-principle intention to set up a new manufacturing facility in Gujarat for manufacture of automotive tyres, tubes, flaps and related products.

The company proposes to invest a sum of about Rs. 4500 crores over a ten year period in a phased manner. The new pl

Buy Apollo Tyres Ltd For Target Rs.214.00 - Religare Sec

Apollo Tyres Limited

We’re reiterating our buy recommendation on Apollotyre as it was initiated in the given range.

 

Recommendation

Buy  Apollo Tyres Limited    @ 196-198    Stoploss 187  Target 214  CMP 197.10

12/01/2017 10:46:04 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy Apollo Tyres Ltd For Target Rs.212.00 - Religare Sec

Apollo Tyres Limited

After the recent fall, APOLLLOTYRE has formed a  fresh buying pivot around its major support zone  of long term averages on the daily chart. Traders  shouldn’t  miss  the  opportunity  and accumulate  fresh in the given range

 

Recommendation

11/01/2017 9:44:59 AM | Posted in Broking Firm Views - Short Term Report read full news