BofAML

Heg Rating ‘Buy’: Primed to make most of sectoral boom

Purest play on graphite electrode sector; coverage initiated with ‘Buy’ and Target Price of Rs 6,700; upside potential of 110%

Markets News

Godrej Properties gets Buy rating from BofA ML courtesy strong brand

We initiate coverage of Godrej Properties (GPL), a leading pan-India developer, with a ‘buy’ rating and PO of Rs 756 as (1) strong ‘Godrej’ brand + asset light model make GPL best placed to benefit from consolidation

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Infosys, TCS, Wipro, other IT firms Q1 earnings set to be sluggish, says BofAML

We expect the Q1 earnings season to temper revenue optimism, as the financial services vertical is unlikely to register a cyclical acceleration in the quarter and growth in retail remains weak

wipro, infosys, It industry india, Earning q1, tech companies, wipro jobs, infosys News

ICICI Prudential Life rated ‘Buy’ by BofAML, says business momentum strong

We raise our EPS estimates for ICICI Prudential Life Insurance (I-Pru) by 2-3% over FY18-19 as we believe that the company can deliver stronger topline growth driven by market share gains in a fast growing industry.

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Stock market strategy: In present scenario, buying avoidable; says BofAML

While net inflows matter, they are not enough reason to add risk in the present scenario: stay cautious now

Stock stock market strategy News

Dr Reddy’s: Regulatory issues overhang valuation

Dr Reddy’s (DRRD) has informed that its oral solids formulations manufacturing plant at Bachupally has received 11 observations from the US FDA post completion of recent audit.

Dr Reddy’s, DRRD, manufacturing plant, FDA, laboratory systems, EPS, US market, Advil gel, Rivastigmine patch, Cytoxan injection, Nuvaring, API plants News

Cipla rated ‘Underperform; BofA Merrill Lynch says 70% premium to sector is unjustified

We downgrade Cipla from Neutral to Underperform (U/P) as we believe that the current 70% valuation premium to peers is not justified especially due to several downside risks to market earnings growth expectations.

Industry News

Torrent Pharma rated ‘Buy’ by BofA ML, says deserves higher valuation

We initiate on Torrent Pharma (TRP) with Buy rating as we believe the current valuations do not reflect the strong visibility on the 21% EPS CAGR that is likely over FY17-20E.

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Biocon Ltd rated ‘Buy’; BofA-Merrill Lynch says making progress on biosimilar front

Launch of biosimilars in EU would grant Biocon access to Middle East & North Africa

Industry News

BofA ML rates IndiaBulls Housing Finance as ‘Buy’, says Q3 sustains momentum; profit could rise at 28% CAGR

Indiabulls Housing Finance (IHFL) reported Q317 net profit of R7.5 bn, y-o-y growth of 25% and 2% beat. Underlying growth remains strong, with AUM (loan) growth at 31%y-o-y and spreads rising by 7 bp.

Industry News

Media industry gears up fora churn: Zee best placed, says BofA Merrill Lynch

In the coming years, with improvement in telco infra (4G/fixed broadband rollout), we expect consumers to start viewing more content on smaller screens, partly at the expense of TV.

Industry News

Sun Pharmaceuticals rated ‘Buy’ by BofA-ML

Sun Pharma (SUNP) has announced that it has entered into an agreement to acquire 85.1% stake in JSC Biosintez— a private Russian pharmaceutical company with manufacturing facilities in Russia and marketing products primaril

Sun Pharmaceuticals rated ‘Buy’ by BofA-ML

Zee Entertainment rated ‘Buy’ after acquiring TV portfolio of Reliance Broadcast

Zee Entertainment has announced that it is acquiring the TV portfolio of Reliance Broadcast (RBNL) for a consideration of Rs 2.98 billion.

Zee Entertainment rated ‘Buy’ after acquiring TV portfolio of Reliance Broadcast

BofAML puts ‘underperform’ rating on Union Bank of India

Union Bank of India (UBI) reported 2Q net profit of R1.7 billion, down 73% y-o-y and 30% miss, mainly due to higher provisions, which were partly countered by bumper trading gains.

BofAML puts ‘underperform’ rating on Union Bank of India

After change in NTPC share price, BofA-ML upgrades rating to ‘Buy’

After therecentcorrection inNTPC’sshareprice,weupgradeittobuyasvaluationat 1SD below mean could rerate on the back of: a potential cut in interest rates; & initiation of two structural reforms –policy mandating shut down

After change in NTPC share price, BofA-ML upgrades rating to ‘Buy’

PVR and INOX Leisure rated ‘Buy’ by BofA-ML over changing industry dynamics

Both the companies should benefit from continuing increase in discretionary consumer spend, changing theatre industry dynamics, and inherently strong demand for movies

pvr cinema WANDA CINEMA News

Buy rating on IDFC: Demerger good for IDFC

IDFC Bank, one of the new entities, will face challenges in banking operations though

Buy rating on IDFC: Demerger good for IDFC

Engineering & construction: Sales growth of infra companies in revival mode

We note that most macro indicators such as growth in freight traffic through rail, road & ports are still witnessing a weak business momentum after a spurt in the first half of this fiscal.

Engineering & construction: Sales growth of infra companies in revival mode

Q2 FY16 review: Sensex sees no respite from earnings recession yet

HDFC Bank, ICICI Bank, SBI, TCS, Infosys lead the growth while oil & gas, pharma & industrials drag down growth

bse sensex nse nifty stock markets today News

Downgraded to Neutral rating on Power finance cos; Govt’s DISCOM package will hit the power finance companies

However, the move to bail out SEBs, if successful, would be very beneficial over the longer term

Downgraded to Neutral rating on Power finance cos; Govt’s DISCOM package will hit the power finance companies

Underperform rating on real estate; RBI’s rate cut brings good news

RBI cuts repo rate by 50bps; will this translate into lower mortgage rates?

Underperform rating on real estate; RBI’s rate cut brings good news

Port sector update: Port sector feels pangs of slowdown

Weak domestic revival and sluggish global trade affect traffic growth at Adani Ports and Gujarat Pipavav

Port sector update: Port sector feels pangs of slowdown

Banking on mobile: Mobile banking to touch $3.5 trillion by FY22

INDIA’s payments market at $15.5 trillion in FY15 (excluding inter-bank clearing and CCIL) will likely see rapid changes in payment channels; while growing at 12% CAGR.

Banking on mobile: Mobile banking to touch $3.5 trillion by FY22

Equity strategy: Stress in earnings

Ex-energy, Ebitda shows 30 bps decline for Sensex companies

Equity strategy: Stress in earnings

Industrials: Currency impact

Ports, BTG makers and L&T to gain from rupee weakness

Industrials: Currency impact
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