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Sharda Motor Industries Ltd We have coverage on Sharda Motor Industries Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.1042 today. With the recent run-up in the share price (23% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer ...
Buy Sharda Motor Industries Ltd For Target Rs.1,087 - Sushil Finance
Bharat Bijlee Ltd We have coverage on Bharat Bijlee Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.4322 today. With the recent run-up in the share price (37% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ ...
Buy Bharat Bijlee Ltd For Target Rs. 4,460 - Sushil Finance
Food and pharma division to drive growth : Several branded drugs are set to lose their patent protection soon, which should aid the generic drugs market, leading to higher revenue-generating opportunities in the Vimta Labs (VLL) pharma space. The company has entered the full spectrum in clinical trial space with a 180-bed capacity in the laboratory, thereby expanding the services to existing clientele. In the food segment, imports and exports of food products drive the testing business. As...
Buy Vimta Labs Ltd For Target Rs.727 - Sushil Finance
Alkem Laboratories Ltd. We have coverage on Alkem Laboratories Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.4,206 today. With the recent run-up in the share price (20% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer ...
Buy Alkem Labs Ltd For Target Rs.4,242 - Sushil Finance Ltd
Enkei Wheels (India) Ltd reported a quarterly revenue of Rs. 185.9 cr for Q2CY23, up by 10.4% YoY and 39.0% on a QoQ basis. On the back of easing raw material prices, auto-ancillary companies like EWIL have witnessed a turnaround in margin pressure. From a QoQ as well as a YoY standpoint, the company has posted robust sales growth as well as PAT margins. Finance costs include foreign exchange gains, related to borrowings whose foreign exchange losses were previously considered as adjustmen...
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Ltd
Highlights from the Quarter (Q1 FY24) : During Q1 FY24, the top line went up by 11.6% yoy to Rs.2,184.1 cr; on a sequential basis, the top line was up 1.4%, despite the cyclone towards the end of the quarter. Home textiles (90% of the sales) reported a growth of 10% yoy in revenue to Rs.2,037.6 cr, while flooring revenue reported revenue of Rs.225.1 cr, a growth of 33% yoy. The company has increased its stores in India to ~13,200 in the current quarter and aims to increase it to 50,000 sto...
Buy Welspun India Ltd For Target Rs.130 - Sushil Finance Ltd
We have coverage on Glenmark Pharmaceuticals Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.736 today. With the recent run-up in the share price (19% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSE...
Buy Glenmark Pharmaceuticals Ltd Target Rs.760 - Sushil Finance
Alkem Laboratories manufactures formulations as well as API, has a strong foothold in India and is one of the leading player in the US market. It has 19 manufacturing facilities and 6 R&D centers in India and US. Market leader in various therapeutic areas Alkem has a strong presence in India across various therapeutic areas. It has maintained its leadership position in anti-infectives for the last 15 years and is among the Top 3 players in gastro as well as the Pain division, throug...
Buy Alkem Labs Ltd For Target Rs.4,242 - Sushil Finance Ltd
We initiated coverage on HDFC Ltd. with a BUY rating on March 30, 2021, at Rs.2,540. With the merger of HDFC Ltd with HDFC Bank and the company getting delisted from the exchanges on July 13, 2023, we have to close our coverage on the company. Investors can continue to hold HDFC Bank. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI Regi...
Buy HDFC Ltd Target Rs.3,073 - Sushil Finance
We have coverage on Astra Microwave Products Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.372 today. With the recent run-up in the share price (41% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSE...
Buy Astra Microwave Products Ltd For Target Rs.370 - Sushil Finance
One of the leading players in electric engineering industry in India BBL primarily has two primary business segments: Power Systems that comprise Transformers and Projects divisions, and Industrial Systems segment comprising Electric Motors, Drives & Industrial Automation and Elevator Systems divisions. BBL has a strong presence in 220-KV transformers to 200 MVA in its power transformer segment. It’s motor segment includes manufacturing and selling of low tension (below 6.6 KV) moto...
Buy Bharat Bijlee Ltd For Target Rs. 4,460 - Sushil Finance
We had recommended a BUY on Huhtamaki India Ltd. to investors at Rs.183 for a price target of Rs.280 in the recent result update. With the recent run-up in the share price (54% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ ...
Buy Huhtamaki India Ltd For Target Rs.280 - Sushil Finance Ltd
We have coverage on The Ramco Cements Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.925. With the recent run-up in the share price, (14% return) we are now changing our rating on the stock to Neutral and recommend our investors start booking profits. Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ M...
Buy Ramco Cements Ltd For Target Rs.930 - Sushil Finance
We have coverage on Gabriel India Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.201. With the recent run-up in the share price, (25% return) we are now changing our rating on the stock to Neutral and recommend our investors start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE...
Buy Gabriel India Ltd For Target Rs.187 - Sushil Finance
We had recommended a BUY on Engineers India Ltd. to investors at Rs.67 for a price target of Rs.103 in the recent result update. With the recent run-up in the share price (64% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ ...
Buy Engineers India Ltd For Target Rs.103 - Sushil Finance
We have coverage on Venus Remedies Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.264 today. With the recent run-up in the share price (32% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/...
Buy Venus Remedies Ltd For Target Rs.281.00 - Sushil Finance Ltd
We have coverage on Force Motors Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.1718 today. With the recent run-up in the share price (28% return), we are now changing our rating on the stock to Neutral and recommend our investors to Book profits. Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ ...
Buy Force Motors Ltd For Target Rs.1,768 - Sushil Finance
We have coverage on Intellect Design Arena Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.569 today. With the recent run-up in the share price (22% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI Registrat...
Buy Intellect Design Arena Ltd For Target Rs.591 - Sushil Finance Ltd
We have coverage on Creditaccess Grameen Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.1090 today. With the recent run-up in the share price (20% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI Registr...
Buy CreditAccess Grameen Ltd For Target Rs.1097 by Sushil Finance Ltd
Highlights from the Quarter (Q1CY23): Enkei Wheels (India) Ltd reported a quarterly revenue of Rs. 133.7 cr for Q1CY23, down by 23.3% YoY and 10.1% on a QoQ basis. Due to the prevalence of an elevated inflation, which has led to a global slowdown, revenues for auto ancillary companies like EWIL were slightly dampened in the last few quarters. However, from a QoQ standpoint, EWIL’s PAT margins, although still negative, improved by 620 Bps against the previous quarter, primarily due t...
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Ltd
Highlights from the Quarter (Q4 FY23) : During Q4 FY23, the top line fell by 3.3% yoy to Rs.2,153.9 cr; on a sequential basis, the top line was up 15.2%. Home textiles (91% of the sales) reported de- growth of 2.7% yoy in revenue to Rs.2,017.1 cr, while flooring revenue grew 10%yoy. The company has increased its stores in India to ~11,170 in the current quarter and aims to increase it to 50,000 stores by FY26. Domestic sales grew by 16% yoy. EBITDA margin improved to 12.9% in Q4 FY23. The ...
Buy Welspun India Ltd For Target Rs.126 - Sushil Finance Ltd
Foraying into new segments in order to reduce dependence on a single segment: Autoline Industries Ltd (AIL) has been making continuous efforts to add new revenue streams, with a separate focus on the non-auto sector, in order to reduce dependence on the auto sector. AIL has diversified into the EV business by launching its own E-Cycle brand called E-Speed, along with more variants. The company is focused on gaining traction in the EV 2-wheeler, 3-wheeler, and 4-wheeler component business, ...
Buy Autoline Industries Ltd For Target Rs. 105 By Sushil Finance
We have coverage on Cummins India Ltd with a BUY rating on the stock. Since our report, the stock has posted a high of Rs.1431 today. With the recent run-up in the share price (21% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE...
Buy Cummins India Ltd For Target Rs.1,444 - Sushil Finance
Highlights from the Quarter (Q4CY22): Enkei Wheels (India) Ltd reported revenue of Rs. 148.8 cr for Q4CY22, down by 2.4% YoY and 21.0% on a QoQ basis. Due to the prevalence of an elevated inflation, which has led to a global slowdown, revenues for auto ancillary companies like EWIL were slightly dampened in the last quarter. The company reported an EBITDA of Rs.4.1 cr for the quarter vs Rs.15.3 cr for the same quarter in the previous year (down 73.2% YoY) and Rs.25.4 cr in the preceding qu...
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance
STRONG ORDER BOOK POSITION ALONG WITH IMPROVEMENT IN REVENUE & PROFITABILITY. The company has a strong order book position of Rs.1,734 cr (more than 2x of revenue) as on December 2022, which is to be executed in next 12 to 38 months. Strong order booked coupled with healthy execution capabilities, the company has managed to achieve a revenue of Rs.557 cr in 9MFY23 as against Rs.511 cr in 9MFY22. Further, the company has been focusing on domestic order book which has resulted in signifi...
Buy Astra Microwave Products Ltd For Target Rs.370 - Sushil Finance
The Union Budget was presented taking note of various macro and global challenges namely : 1. Rising global inflation and rates, resulting in slower global growth and recession fears in some continents. 2. Full economic recovery, requiring return to fiscal consolidation and normalizing monetary policy. 3. Rising geopolitical tensions, leading to supply chain disruption that may lead to demand - supply mismatch and rising supply led inflation. 4. Last but not the least, the demand...
Union Budget 2023-24 From Restraint to Reboot, Reshaping Growth Says Sushil Finance
Highlights from the Quarter (Q2 FY23) : During Q2 FY23, the top line fell by 15.0% yoy to Rs.2,113.5 cr and on a sequential basis, the top line was up 8.0%. Home textiles reported de-growth of 15% yoy in revenue to Rs.2,011 cr, while flooring revenue reported flat yoy growth to Rs.160 cr. In the US, past inventory of home textiles resulted in subdued performance for Q2FY23. The company expects demand to pick up in a couple of quarters in the US, while in India, it is seeing good demand bui...
Buy Welspun Corp Ltd For Target Rs.118 - Sushil Finance Ltd
New product launches and new vertical (Over the counter) to propel growth : Off-patent pharma products lose value over the period due to the generic nature of the products. The competitiveness of the product is reduced over a period of time. To counter this, the company has modified its process of identifying the molecules by screening them through multiple filters like the complexity of the drug, market and the opportunity, competition etc. It aims to strengthen the product portfolio with th...
Muhurat Pick: Buy Venus Remedies Ltd. Ltd For Target Rs. 281 - Sushil Finance
Buy Autoline Industries Ltd: Price Rs.56 Target Rs.106 Date Nov.01, 2021 We have coverage on Autoline Industries Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.108 today. With the recent run-up in the share price (78% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits To Read Complete Report & Disclaimer Click Here Please refer dis...
Update on: Autoline Industries Ltd By Sushil Finance
Key Highlights of Q2FY23 Results On the P&L front, NII grew by 18.9%/7.9% yoy/qoq, highest in the last 12 quarters, to Rs.21,021 cr, while Net interest margin (NIM) improved marginally by 11 bps on qoq basis to 4.0%. We expect improvement in NIM in coming quarters. An increase in yield on advances would be faster than the increase in the cost of funds, as deposits would take more to reprice than the advances. Fees and commission income constituting 76% of other income was at Rs.5,803 c...
Buy HDFC Bank Ltd For Target Rs.1854 - HDFC Bank
Buy Enkei Wheels India Ltd For Target Rs. 657 - Sushil Finance Radical shift from Steel to Alloy wheels Enkei Wheels (India) Ltd [EWIL] is a leading manufacturer and supplier of aluminium wheels in India. Most major OEM’s (Original Equipment Manufacturers) have shifted from steel wheels to alloy wheels due to the metal’s durability, superior performance, and considerably lesser weight. It is also found that alloy wheels dissipate heat much better than steel wheels, thereby, ...
Diwali Muhurat Pick 2022: Buy Enkei Wheels India Ltd - Sushil Finance
Buy Arvind Ltd Diversified revenue stream and one of the largest demin manufacturer in India. Arvind Ltd is one largest denim manufacturer in India with a diversified revenue stream. The company has a presence in Denim manufacturing (~25% of total revenue in FY22), Woven division (~28% of total revenue), Garments segment (~19% of total revenue), Advanced Materials (~13% of total revenue), and other related segments. The company has a presence in domestic as well as export division. It h...
Diwali Muhurat Pick 2022 : Buy Arvind Ltd and Venus Remedies Ltd - Sushil Financial
Mobility industry to be an important growth engine for the future The automotive and mobility industry has undergone a prodigious transformation toward Software Defined Vehicles (SDV). KPIT has contributed to this transformation, as it is a leading software development and integration partner, thereby, accelerating the transition to a clean and smart future. Uniquely positioned as a 100% software integrator for OEM’s in CASE related platforms CASE is an acronym that refers to ...
Buy Kpit Technologies For Target Rs. 788 - Sushil Finance
Government’s capital expenditure plans to drive demand recovery In pursuit of making India a $5 Trillion economy, the government of India, during its Union Budget of 2021 announced various capital expenditure initiatives in an attempt to revive the economy. Sectors like construction, railways, roadways, shipping and ports, etc. were allotted hefty budgets. Cummins caters to the power generation needs of all these sectors and it is expected that demand to recover as execution picks up...
Buy Cummins India Ltd For Target Rs.1,444 - Sushil Finance
One of the leading players in electric engineering industry in India BBL primarily has two primary business segments: Power Systems that comprise Transformers and Projects divisions, and Industrial Systems segment comprising Electric Motors, Drives & Industrial Automation and Elevator Systems divisions. BBL has a strong presence in 220-KV transformers to 200 MVA in its power transformer segment. It’s motor segment includes manufacturing and selling of low tension (below 6.6 KV) m...
Buy Bharat Bijlee Ltd For Target Rs. 2,652- Sushil Finance
Robust balance sheet, reasonable valuations present a lucrative investment opportunity: SMIL is a zero-debt company with cash and cash equivalents to the tune of Rs.397.6 cr and financial investments of Rs.56.5 cr as on March 31, 2022 that translates into Rs.152.7 per share as against the current market price of Rs.845. Strong market share and healthy long-term relationships with OEMs to drive the sales going forward: SMIL is a prominent player in the Indian automotive components industry ...
Buy Sharda Motor Industries Ltd For Target Rs.1,087 - Sushil Finance
Widening portfolio of products and increasing number of customers to benefit: Over the last couple of years, the company has consistently been investing in development of new products. During last few years, the company innovated 131 new products and expanded their reach to 18 countries by adding 9 new customers. Rapidly rising share of exports to assist the topline growth: The Management expects the share of exports to rise from current levels of 26% in FY22 to nearly 33% over the next fe...
Buy Alicon Castalloy Ltd For Target Rs..1,123 - Sushil Finance
We had initiating coverage on Gabriel India Ltd on August 31, 2021 at the then prevailing price of Rs.145 for a target price of Rs.189, showcasing an upside of ~30.4%. Subsequently, during our Q4 FY22 result update, we revised our target price to Rs.175. Now, with the recent run-up in the share price, we advise our investors to book profits at current levels as we close our recommendation on the stock and change our rating to NEUTRAL. To Read Complete Report & Disclaimer&n...
Buy Gabriel India Ltd For Target Rs.189 - Sushil Finance
Access to resources and geographical expansion to play a vital role going forward SCL is a part of Nalgonda & Yerraguntla cement cluster; one of the key cement production areas of India, strategically located near coal mines & ports. SCL also has strong limestone reserves of nearly 625 MT. SCL also has 66.85 MW of captive power which enables the company to have smooth access to power and at a relatively lower costs. Furthermore, SCL has recently commissioned new plants in Madhya Pr...
Buy Sagar Cements Ltd For Targert Rs. 260 - Sushil finance
We have coverage on ITD Cementation Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.87 today. With the recent run-up in the share price (28% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI Regist...
Buy ITD Cementation India Ltd For Target Rs.91 - Sushil Finance Ltd
We had initiating Coverage on Maruti Suzuki India Ltd on Mar. 05, 2021 at a market price of Rs.7,300 for a target price of Rs.9,553, showcasing an upside of ~31% With the recent run-up in the share price, the stock is nearing our target price. We advise our investors to book profits at current levels as we close our recommendation on the stock and change our rating to NEUTRAL. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at http...
Buy Maruti Suzuki India Ltd For Target Rs.9,160- Sushil Finance
Highlights from the Quarter (Q2 CY22): * The top-line showcased a growth of 39.6% YoY to Rs.1,241.7 cr driven by good rebound in volumes and two price-hikes during Q2 CY22 and, of course, on a lower base of covid-19 affected Q2 CY21. The volumes during the quarter stood at 5.6 cr liters (24.4%, YoY) and the realization per liter increased ~12.2% YoY to Rs.221.7. During Q1 CY22, the company had sold 5.9 cr liters of lubricants and the realization/liter was at Rs.209.4. * The cost of good...
Buy Castrol India Ltd For Target Rs. 150- Sushil Finance
Rising Enhanced capacity to drive volume and better product-mix to drive value: SIL has just completed its capacity expansion program under which the company has doubled its capacity from 1,05,000 TPA to 2,05,000 TPA by investing Rs.500 cr. The new capacity commenced production in February, 2022 and already achieved capacity utilization of 63% by end of March, 2022. Furthermore, the new capacity has capabilities to produce higher GSM paper which is likely to drive the margins up. Backward ...
Buy Satia Industries Ltd For Target Rs. 160 - Sushil Finance
We have coverage on Aurionpro Solutions Ltd with a BUY rating on stock. Since our report, the stock has posted a high of Rs.320 today. With the recent run-up in the share price (37% return), we are now changing our rating on the stock to Neutral and recommend our investors to start booking profits. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI R...
Buy Aurionpro Solutions Ltd For Target Rs.320- Sushil Finance
Highlights from the Quarter: * Volume Growth: The company reported total volumes at 423 Ktons compared to 552 Ktons in Q4FY22 and 373 Ktons in Q1FY22. Volumes saw an de growth of ~24% & growth of ~13% on QoQ and YoY basis respectively. The volumes were adversely impacted by the industry-wide channel destocking prompted by the correction in domestic HRC prices and lower share of value added products (VAP). * Margin expectation: The management seem optimistic with respect to volume gr...
Neutral APL Apollo Tubes Ltd For Target Rs. 1,157 - Sushil Finance
HIGHLIGHTS OF THE QUARTER: * Colgate-Palmolive (India) Limited reported Net Sales growth of 2.7% over the same quarter of previous year aggregating to Rs. 1,196.8 cr for the quarter ended June 30, 2022. * EBITDA for the quarter was Rs. 325.7 cr as against the EBITDA of Rs. 355.2 for the same quarter of the previous year. * Net profit after tax for the quarter was Rs. 209.7 cr as against the Net Profit of Rs. 233.2 crore for the same quarter of the previous year. * The current quar...
Buy Colgate Palmolive (India) Ltd For Target Rs.1,793 - Sushil Finance
In H1CY22, • The net Sales of the company grew by ~18% on a YoY basis. • The company reported EBITDA of Rs. 85.2 cr with margins of 5.6%. • PAT was reported at Rs. 32.8 cr which grew by 158% on a YoY basis, PAT margins reported was 2.2%. EPS reported is Rs. 4.34. • The company has passed a resolution in its board meeting that it will be monetizing its freehold land and building bank at Majiwada Thane, which can generate considerable free cash flow for the compa...
Buy Huhtamaki India Ltd For Target Rs.280 - Sushil Finance
Being consistently innovative and diversified to play a pivotal role going forward: Undoubtedly, innovation plays a crucial role in Information Technology as it is the key enabler for every industry. In the recent past, the company did several transformation projects such as cloud migration, multi-cloud applications. The Management stated that they will continue to invest in areas such as Artificial Intelligence (AI), Robotic Process Automation, Cybersecurity, and certain startup incubatio...
Buy Allied Digital Services Ltd. For Target Rs 175 - Sushil Finance
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