Analyst corner: Subscribe to RVNL issue from long-term perspective – Centrum
As the issue is 100% OFS, the firm will not receive any funds raised from the issue.
Analyst Corner| Initiate with ‘buy’ on Gabriel India with target price of Rs 170
Gabriel India (GIL), the flagship company of Anand Group, is a pioneer in ride control products in automobiles such as Front forks and Rear Shox (used in 2W/3W), Struts and shock absorbers (in passenger cars), and Shock absor
Analyst Corner: Expect revenue growth of 1.8-3.2 pc for Tier 1 IT vendors in Q3
Q3 is a seasonally soft quarter owing to lower number of working days owing to holiday season as well as furloughs in select verticals.
Analyst Corner: Maintain ‘accumulate’ on Vardhman; TP of Rs 1,300
Vardhman Textiles (VTL), for Q2FY19 on a consolidated basis, reported good numbers mainly on account of better operational performance. Ebitda grew 68% y-o-y to Rs 331 crore, with margins expanding by 666 bps to 19.6%.
Marksans Pharma: Downgrade it to ‘hold’ with a TP of Rs 31, says Centrum
Marksans Pharma: We downgrade Marksans Pharma (MPL) to Hold from Buy rating with a TP of `31 (earlier `55) based on 18x March’20E EPS of `1.7. MPL’s Q4FY18 results were lower than our expectations.
Downgrade Marksans Pharma to ‘hold’ with TP of Rs 31
We downgrade Marksans Pharma (MPL) to Hold from Buy rating with a TP of Rs 31 (earlier Rs 55) based on 18x March’20E EPS of R1.7. MPL’s Q4FY18 results were lower than our expectations.
Maintain ‘buy’ on Swaraj Engines with TP of Rs 2,402
Despite a strong growth in the India tractor industry, Swaraj Engines (SWE) reported a moderate volume growth. Considering stellar growth reported by M&M’s tractor division, this performance was below our estimates.
Invest in equities in tranches in FY 2018-19
The most frequent question these days is whether we are in a bull market or in a bear market. It is natural to hear this question after the spectacular market fall towards the end of financial year 2017-18, bringing back unpl
‘Accumulate’ on Ahluwalia Contracts, TP at Rs 421
Ahluwalia Contracts (India) (ACIL), for Q3FY18, reported decent numbers. Revenue grew 1% y-o-y to Rs 361 crore, growth was muted on the back of GST impact (adjusting for the same, revenue would have been up by 9-10%).
Centrum puts ‘hold’ rating on Bharat Financial with TP at Rs 1,193
After several quarters of slower growth in disbursements and loans, the same grew at a robust pace of 58.1% to Rs 4,712 crore and 34.4% to Rs 11,466 crore, respectively as on December 31, 2017.
Upgrade Marksans Pharma to ‘buy’ with TP of Rs 55
We upgrade Marksans Pharma (MPL) to Buy from Hold rating with a TP of Rs 55 (earlier Rs 45) based on 18x March’20E EPS of Rs 3.0. MPL’s Q3FY18 revenues and EBIDTA were lower than our expectations but net profit was in-lin
Maintain ‘buy’ for Star Cement with TP of Rs 175
Star Cement delivered 4th consecutive quarter of robust profit, as its EBITDA/PAT shot up 60%/173% Y-o-Y. This is led by stability of robust pricing and Star’s sales recovery in NE region, lower sales outside NE region and
Maintain ‘outperformer’ on Can Fin Homes; TP Rs 487
Can Fin Homes (CFHL) loan growth was lower at 18.7% y-o-y compared to its past growth and compared to peers at Rs 15,058 crore.
ICICI Lombard: Profit growth at healthy pace
ICICI Lombard General Insurance (ICICI Lombard) was formed as a joint venture between ICICI Bank and Fairfax Financial Holdings.
Centrum puts Hold rating on Oriental Carbon and Chemicals with target price of Rs 1105
We retain our Hold rating on Oriental Carbon & Chemicals (OCCL) with a revised TP of Rs 1,105. Q2 performance was subdued and trailed our estimates due to lower than expected volumes as ramp-up at Mundra remained slow yet ste
Retain buy on GIC Housing as asset quality risks limited: Centrum
We retain Buy on GIC Housing Finance (GICHF) with a target price of R340. Q4FY15 results were on the higher side...
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