Axis Capital

GAIL India stock rated Hold by Axis Capital as company is in a sweet spot

Despite rise of 60% YTD for stock, there is reasonable upside on estimate of 21% earning CAGR over FY17-20; TP up to Rs 530 from Rs 400

GAIL, GAIL India stock, Axis Capital, PNGRB, Global LNG glut, GAIL trades, Ebitda, US LNG placement, Petrochemicals, crude price, CAGR earnings, share of natural gas News

Bata India stock rated Hold by Axis Capital, with revised target price of Rs 725

In-line results: EBITDA grew 13% y-o-y led by new collections and an early festive period. EBITDA margin stood at 11%. PAT grew 24% y-o-y supported by higher other non-operating income (up 44% y-o-y).

Bata, Bata TP News

Axis Capital maintains Hold rating on Whirlpool, says company has strong brand recall

At Whirlpool analyst meet, management laid out its 4-pillar strategy on Brand, Product, Growth and Foundation. Meaningful investment on brownfield capacity expansion is on the anvil. Target is to grow in double digits, with r

Axis Capital maintains Hold rating on Whirlpool, says company has strong brand recall

IPCA Lab: Q2 beats estimate; operating leverage kicks in

IPCA’s Q2 EBITDA grew 16% y-o-y (6x q-o-q), which was 33% ahead of our estimate. This was led by (1) strong recovery in India business, (2) 335 bps y-o-y improvement in gross margin with better product mix (lower anti-malar

IPCA Lab, EBITDA, Ratlam API unit, USFDA, UK currency , US, anti malaria business in India, gst News

Axis Capital says Hold Lupin stock; target price Rs 820

Lupin (LPC) received a combined warning letter for its Goa and Pithampur unit 2 facility, which would restrict the ANDA approvals from these facilities until resolution.

Lupin, Goa, Pithampur,  CAPA, US, USFDA, ANDAs, US revenues News

L&T Finance rated Hold with TP of Rs 200 by Axis Capital

L&T Finance Holdings (LTFH) reported a strong PAT of Rs 3.6 billion, up 45.2 % y-o-y, primarily on a lower tax outgo. Loan book growth was healthy at 19% y-o-y.

L&T Finance Holdings, L&T Finance, Axis Capital, Hold with TP, Loan book growth News

Dabur stock rating: As company looks to aggressively ride auyrveda wave, this is what Axis Capital has to say

While keenly waiting for demand recovery as GST pressures abate, Dabur is aggressively looking to ride the ayurveda wave.

auyrveda wave, axis capital, Dabur News

Indigo undergoing transformation; what Axis Capital has to say and what rivals must fear

InterGlobe Aviation (Indigo) is transforming its business strategy, which is perceived as a U-turn from its already successful strategy.

Indigo, Axis Capital, IFRS 16, InterGlobe Aviation, InterGlobe Aviation business strategy, offer for sale News

LIC Housing Finance stock: Is it a buy or not? What Axis Capital said

We interacted with the management of LIC Housing Finance (LICHF) to get an update on business and demand outlook.

LIC, LIC Housing Finance News

Auto sector rides high on market share gain: Axis Capital

In MHCV trucks, the share of >25 tonne has increased 930 bps y-o-y to 49.7% YTD, implying that tonnage growth remains higher than volume growth.

Auto sector, market share, Axis Capital News

Sun TV on revival path as ad revenues improve

Our meeting with Sun TV management suggests gradual revival in ad growth as national advertisers’ ad spends have improved – expected to improve further with the upcoming festive season, subscription revenue growth intact

sun tv, sun tv revival, revival of sun tv News

Sadbhav Engineering outlook positive says Axis Cap as past issues resolved

Sadbhav Engineering's slow growth in last two years was primarily due to stuck projects in irrigation and payment issues in mining; the issues are now nearing resolution.

Sadbhav, Sadbhav Engineering, Sadbhav Engineering outlook, Axis Cap, past issues resolved, SEL expects FY18 revenue News

Does matrimony.com have an early mover advantage? Here is what Axis Capital has to say

Incorporated on July 13, 2001, Matrimony.com is a provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in March 2017.

Matrimony.com, Axis Capital News

Dilip Buildcon: TP Rs 765; FY18/19 EPS at Rs 42/ Rs 51

Dilip Buildcon (DBL) has signed an agreement with Shrem Group for sale of its entire BOT portfolio, 14 operational, 4 under construction projects and 6 Hybrid Annuity Model (HAM) projects) at an equity value of Rs 16 billion

Dilip Buildcon, DBL, Hybrid Annuity Model, HAM, BOT portfolio, Shrem Group News

Axis Capital rates Emami as SELL

Consolidated net sales declined 16%, while EBITDA and adjusted PAT plummeted 46% and 56% y-o-y. India sales declined 16% with volume decline at 20% y-o-y.

Industry News

Sunteck Realty to see lower pre-sales run rate, says Axis Capital

Sunteck Realty (SRL) reported strong pre-sales of R3.4 billion in H1FY17, up 48% y-o-y, driven by its Goregaon project (contributed 60% to pre-sales). Collections too improved significantly to R2.86 billion during H1, up 73%

Sunteck Realty to see lower pre-sales run rate, says Axis Capital

Retain ‘buy’ on Sobha stocks with TP of Rs 305

Quarter was weaker than our muted expectation —sharp NIM collapse from interest reversal owing to higher NPLs, continued weak fees.

Retain ‘buy’ on Sobha stocks with TP of Rs 305

Axis Capital revises Bank of Baroda target price to Rs 180

Bank of Baroda (BoB) reported Q2FY17 PAT of R5.5 billion, below our expectation. However, the highlight of the quarter was stability in asset quality metrics.

Industry News

Axis Capital puts ‘Buy’ rating on Mahindra CIE Automotive

Q3CY16 affected by muted revenue growth and weak margins

Axis Capital puts ‘Buy’ rating on Mahindra CIE Automotive

Axis Capital puts ‘Hold’ rating on CGE with Rs 180 target price

Q2 sales grew 11% y-o-y on 64% y-o-y growth in LED and double-digit growth in fans and pumps dampened by 29% y-o-y decline in non-LED lighting (15% of sales). CGE will incur incremental non-cash ESOP expense of R200 million/R

Axis Capital puts ‘Hold’ rating on CGE with Rs 180 target price

Axis revises Oberoi Realty target price to Rs 382

After completion of show flat at its Worli project, Oberoi Realty (ORL) has seen strong traction with 8 units sold in Q2 (vs. 6 units in Q1) for `3 billion (average realization of `44,000 psf).

Axis revises Oberoi Realty target price to Rs 382

Axis raises HPCL target price to Rs 530

HPCL’s core sustainable GRM has increased to $5-6/barrel (vs. $ 3-3.5/barrel over FY10-14) as weak oil prices have reduced fuel losses.

Axis raises HPCL target price to Rs 530

Ramping up of sales drive Sunteck Realty’s operations

We met the management of Sunteck Realty (SRL) to understand its strategy and outlook for FY17-18.

Ramping up of sales drive Sunteck Realty’s operations

‘Hold’ rating on Bharat Electronics; slower earnings growth ahead

FY17/18 unlikely to witness a repeat of FY16’s strong order inflows

‘Hold’ rating on Bharat Electronics; slower earnings growth ahead

Axis reiterates ‘Buy’ rating on Suprajit Engineering, revises target price to Rs 249

Suprajit acquires 100% stake in Wescon Contols for $ 44.4 million. Wescon is a leading manufacturer of control cables in outdoor power equipment space with industry-leading profitability.

Axis reiterates ‘Buy’ rating on Suprajit Engineering, revises target price to Rs 249

Oberoi Realty sales spike at its Worli project, cash flow concerns abate

After a lull of 4 years, Oberoi Realty Ltd (ORL) sold 6 units in its luxury project in Worli, Three Sixty West, for R2.37 billion (average realisation of R42,916 psf) driven by completion of its show flat.

RBI policy review: Homebuyers get no farewell gift from Raghuram Rajan, real estate sector disappointed News

Phoenix Mills gets ‘Buy'”rating; lease renewals are key

Its development business can generate net cash flow of R25-30 bn over the next 4-5 years, being used for growth/deleveraging

Phoenix Mills gets ‘Buy'”rating; lease renewals are key
Switch to Hindi Edition