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Angel Broking Pvt Ltd

Published on 9/07/2020 11:03:29 AM

Accumulate HDFC Ltd CMP (Rs.) 1,885 Target (Rs.) 2,075 Upside (%) 10.1

Rationale - The sufficient liquidity at low cost would be the key criteria for NBFC/Bank to navigate the current situation, as asset side inflow is limited due to moratorium. HDFC Ltd is able to raise fund at competitive rate owing to strong operating metrics, experienced Management and industry’s best credit rating. The HDFC Ltd is trading (Core Banking Business – 1.42x FY22ABV) at a significant discount to historical average valuations and offers favorable risk reward from current levels given global tailwinds

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 11:02:53 AM

Accumulate ICICI Bank Ltd CMP (Rs.) 369 Target (Rs.) 410 Upside (%) 11.1

Rationale - The Ability to raise sufficient liquidity at Low cost would be The key criteria for banks to navigate the current situation,. ICICI Bank is clearly better positioned in the liability side (in Q4FY20, Deposit grew 18% yoy and CASA ratio of 45%). ICICI Bank is trading ( Core Banking Business – 1.1x FY22ABV) at a significant discount to historical average valuations and offers favorable risk reward from current levels given global tailwinds.

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 11:02:14 AM

Buy Dr Reddy's Lab Ltd CMP (Rs.) 3,886 Target (Rs.) 4,570 Upside (%) 17.6

Rationale - Dr Reddy’s has a very strong product portfolio with 55%-65% of it’s revenue coming from it’s chronic which is a high growth segment and will be least impacted due to lockdown globally. The company also has a very diversified geographical spread with the US accounting for 38% of revenue followed by RoW (26%), Emerging markets (19%) and India (17%).

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 11:01:43 AM

Buy Aarti Industries Ltd CMP (Rs.) 940 Target (Rs.) 1,165 Upside (%) 23.9

Rationale - Aarti Industries is well diversified across product, customer, geography and end user industry. Significant opportunity for Aarti will arise from from environmental related issues in China and companies looking to diversify supply chains.

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 11:00:55 AM

Accumulate Galaxy Surfactants Ltd CMP (Rs.) 1,588 Target (Rs.) 1,800 Upside (%) 13.4

Rationale - Leader in surfactant business catering to the FMCG space with increasing share of speciality care products

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 11:00:25 AM

Accumulate PI Industries Ltd CMP (Rs.) 1,661 Target (Rs.) 1,889 Upside (%) 13.7

Rationale - Market leader in fast growing custom manufacturing space catering to lading agrochemical companies globally

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 10:59:51 AM

Accumulate Reliance Ind Ltd CMP (Rs.) 1,797 Target (Rs.) 1,937 Upside (%) 7.8

Rationale - Reliance Industries Ltd. (RIL) is India’s largest company with a dominant presence in Refining, Petrochemicals, Telecom and Retail businesses. Telecom business to witness robust growth over next few years due to tariff hikes and shift of subscribers from Vodafone Idea to other telecom players.

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 10:59:19 AM

Accumulate Britannia Industries Ltd CMP (Rs.) 3,687 Target (Rs.) 3,920 Upside (%) 6.3

Rationale - BRIT has an overall distribution reach of 5.5 million outlets. BRIT has narrowed the gap with the No. 1 player. The gap with the largest distributed brand is now just 0.8 million outlets which it expects to bridge soon and thereby become the largest player over the medium to long term

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 10:58:41 AM

Buy Bharti Airtel Ltd CMP (Rs.) 561 Target (Rs.) 672 Upside (%) 19.7

Rationale - Telecom operators have increased tariffs by ~35% in Nov’19. There is a possibility of another round of tariff hikes by telecom companies in FY21 given that tariffs are still very low . If Vodafone Idea goes out of business, Bharti would benefit significantly from addition of subscribers.

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164

Angel Broking Pvt Ltd

Published on 9/07/2020 10:58:00 AM

Buy Ipca Lab Ltd CMP (Rs.) 1,637  Target (Rs.) 1,900 Upside (%) 16.1

Rationale - 54% of revenue comes from domestic generic and API business. Generics and API continues to provide revenue growth for Ipca. Expected to outperform the Indian Pharmaceutical market(IPM) by 8%-10% p.a in FY 22.

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf 
SEBI Registration number is INH000000164