Motilal Oswal Financial Services Ltd

Published on 21/10/2020 11:57:01 AM

Buy Dabur Ltd @ 2-3 Days CMP 528 TGT 550 SL 517

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SEBI Registration number is INH000000412

Motilal Oswal Financial Services Ltd

Published on 15/10/2020 11:58:07 AM

Buy Tata Chemical Ltd @ 2-3 Days CMP 318 TGT 340 SL 307

Click Here- https://bit.ly/340PnFe

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Motilal Oswal Financial Services Ltd

Published on 14/10/2020 2:08:15 PM

High Conviction Idea : Hero Motocorp Ltd By Motilal Oswal

Valuation & View: We believe HMCL has multiple re-rating triggers including: 1) the return of volume growth, 2) a possible foothold in Premium Motorcycles, Scooters, and/or Exports, and 3) a speculated GST cut. We estimate FY21E volumes to decline 5%, but expect 19% volume growth in FY22E, due to normalization of volumes over Apr– Jul’21 and flattish volumes for the remaining 8 months. We estimate EBITDA margins to return to the 14.5–15% range in FY22E, from 13.7% in FY20/FY21E and 14.7% in FY19. Thus, we expect EPS to grow at a 15.6% CAGR over FY20–22E (unlike 2% CAGR over last 5 years). We recommend BUY, with TP of INR3,900 (18x Sep’22 EPS + INR100/share for NBFCs), given its improved volume visibility and lower risk of value outflow from HMCL’s strength areas.

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Motilal Oswal Financial Services Ltd

Published on 14/10/2020 1:52:37 PM

Sell Larsen & Toubro Ltd @ 2-3 Days CMP 900 TGT 860 SL 920

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Motilal Oswal Financial Services Ltd

Published on 12/10/2020 12:57:08 PM

Buy Havells Ltd @ 2-3 Days CMP 710 TGT 750 SL 692

Click Here- https://bit.ly/373cKzU

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Motilal Oswal Financial Services Ltd

Published on 9/10/2020 11:08:23 AM

Buy Divi's Laboratories Ltd @ 2-3 Days CMP 3231 TGT 3350 SL 3170

Click Here- https://bit.ly/36NiygU

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Motilal Oswal Financial Services Ltd

Published on 7/10/2020 12:24:07 PM

Buy Asian Paints Ltd @ 2-3 Days CMP 2090 TGT 2180 SL 2045

Click Here- https://bit.ly/36GsFUO

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Motilal Oswal Financial Services Ltd

Published on 6/10/2020 2:21:23 PM

High Conviction Basket

Click Here- https://bit.ly/33z3lOA

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Motilal Oswal Financial Services Ltd

Published on 6/10/2020 12:26:31 PM

Buy Glenmark Pharmaceuticals Ltd @ 2-3 Days CMP 497 TGT 525 SL 483

Click Here- https://bit.ly/3nolMgX

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Motilal Oswal Financial Services Ltd

Published on 5/10/2020 11:06:25 AM

Buy Tech Mahindra Ltd @ 2-3 Days CMP 822 TGT 865 SL 802

Click Here - https://bit.ly/2GthOCR

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SEBI Registration number is INH000000412