Yes Securities Ltd

Add HDFC Life Insurance Ltd For Target Rs.620 - Ye..

Key highlights of Q2 FY21 performance * NBP – NBP was at Rs58.7bn and registered a growth of 47%, which was better than our forecast of 33%. The growth was led b..

Buy PNC Infratech Limited For Target Rs.212 - Yes ..

Highlights * PNC Infratech has reported better‐than‐expected performance during Q1 FY21 (considering covid‐19 related impact). Its revenue declined 31.5% yoy ..

Rollover Analysis – Aug 20 By Yes Securities

Volatility likely to pick up August series proved nightmare for short sellers as midcaps rallied on back of short covering, while rotation trades visible as laggards l..

Buy Can Fin Homes Limited For Target Rs.475 - Yes ..

Highlights * Significant NIM expansion and lower opex drove a small beat over our higher‐than‐street PPOP estimate. Precautionary covid‐related provisions of ..

Buy KNR Constructions Ltd For Target Rs.304 - Yes ..

Highlights * KNR Constructions (KNRC) reported topline growth of 3.2% yoy (to Rs.4.8bn), well ahead of street and our expectations. Despite Covid‐ 19 impacting op..

Buy HG Infra Engineering Ltd For Target Rs.282 - Y..

Highlights * HG Infra Engineering reported topline de‐growth of 43.4% yoy (~Rs.3.0bn) which was impacted due to COVID‐19 related shutdown. Operating margin, how..

Buy Cochin Shipyard Ltd For Target Rs.429 - Yes Se..

Highlights * Though Cochin Shipyard delivered weak Q1FY21 results owing to Covid‐19 led disruptions, mgmt. seems confident of achieving flat top line growth with ..

Add Dilip Buildcon Limited For Target Rs.391 - Ye..

Highlights * Dilip Buildcon Ltd (DBL) delivered decent topline performance during Q1 FY21 with standalone revenues at Rs.18.9 bn (‐ 17.5% yoy). This was desp..

Buy Shriram Transport Finance Ltd For Target Rs.88..

Highlights * A healthy operating performance with PPOP coming in‐line with expectation. Miss on NII (decline in NIM) was made up by cost containment (driven parti..

Buy JMC Projects Ltd For Target Rs.65 - Yes Secur..

Highlights * JMC Projects delivered subdued performance during Q1 FY21 with standalone revenues declining 48% yoy (to Rs.4.7bn). The execution was impacted due to C..

Sell Sanghi Industries Ltd For Target Rs.16.2 - ..

Highlights * Total volumes in Q1FY21 declined sharply by 46.3% y/y and stood at 0.32 MT. This was primarily due to extended lockdown period in Western India –..

Sell Cummins India Ltd For Target Rs.332 - Yes Se..

Highlights * KKC’s PAT came in ahead of est. as higher other income (incl. exceptional gain of Rs357mn due to interest on tax refund) & gross margin expan..