Edelweiss

Edelweiss advises to ‘hold’ Bajaj Electricals – here’s why

In consumer business, we believe industry-leading growth over 12/24 months across fans and appliances would be key and that a lot would depend on product innovation (BJE’s key focus area).

Markets News

Analyst Corner: Maintain ‘buy’ on JSPL, revised target price Rs 210

However, soft prices in Oman and losses in international mining operations are likely to drag FY20 performance.

Markets News

Stock corner: Maintain ‘buy’ on Dr Lal Pathlabs’, company best positioned to competition – Edelweiss

While Delhi-NCR revenue/volume grew 10.6%/8.0%, east India sales/volume jumped 29%/20%. Management expects KRL to break even in one year, led by operating leverage from volume growth.

Dr Lal Pathlabs, DLPS profits, Dr Lal Pathlabs net interest, income growth, private lender, market news, NBFCs, stocks bank, shares bank News

Stock corner: Buy Larsen & Toubro, performance in the quarter was a mixed bag

FY20/21e EPS cut by 2/3% given the Q4 margin miss; L&T is likely to meet FY20 guidance comfortably; TP revised to Rs 1,875

Stock corner, Larsen & Toubro,  MOAT, IDPL, RoE focus News

Analyst corner | Petronet LNG: Maintain ‘hold’ target price at Rs 219

Petronet LNG’s (PLNG) Q4FY19 Ebitda of Rs 6.3 bn came 20% below estimate; however, adjusted for `1.2 bn inventory loss, Ebitda belied estimate only 4.5%.

Markets News

SBI Rating| Buy — An impressive performance in quarter

State Bank of India (SBI) turned in an impressive Q4FY19 performance with a sustained core and strengthening balance sheet.

Bank is well placed to tap opportunities amid weakened competition; TP revised to Rs 371; valuation is inexpensive News

Stock corner: ‘Hold’ on Union Bank; credit cost may remain volatile

UNION BANK OF India (UNBK), yet again, reported a Q4FY19 loss of ~Rs 34bn (leading to full-year loss of >Rs 29bn, eroding book value by Rs 17/share) due to persistent asset quality issues.

Stock corner: 'Hold' on Union Bank; credit cost may remain volatile News

Stock corner: ‘Buy’ SRF with SOTP-based with target price of Rs 2,983

SRF’s Q4FY19 was marked by the chemicals business turning in a spectacular performance—revenue jumped 66% YoY & 150bps YoY and margin expanded 670bps QoQ to 20%.

Stock corner: 'Buy' SRF with SOTP-based with target price of Rs 2,983 News

Buy ‘Nestle’ shares with target price at Rs 11,944; new strategy is encouraging

Nestle’s Q1CY19 revenue and Ebitda came in line with consensus estimates – up 8.9% and 5.6% y-o-y. However, PAT surpassed consensus (up 9.3% y-o-y) led by higher other income (up 29.7% y-o-y).

Buy 'Nestle' shares with target price at Rs 11,944; new strategy is encouraging News

Stock corner: Retain ‘hold’ on V-Mart Retail with revised target price of Rs 2,503

V-Mart Retail’s (VMart) Q4FY19 revenue growth of 15.9% y-o-y came in line with estimate. However, Ebitda and adjusted PAT decline of 23% and 60% y-o-y, respectively, belied it. SSSG grew mere 3.5% y-o-y owing to softer grow

With VMart now present in 17 states (14 in FY18), the potential for deepening reach has expanded (Representative image) News

Stock corner: ‘Buy’ Mahindra Logistics, a strong performance in quarter

While outlook’s bright, FY20/21e EPS down 4% due to auto slowdown; TP cut to Rs 610.

Markets News

Stock corner: Maintain ‘hold’ on ABB India with target price at Rs 1,325

ABB India’s (ABB) overall Q1CY19 performance was driven by 30% plus revenue spurt and 270 bps margin expansion in the robotics & automation division.

Markets News

Stock corner: Siemens is a top industrial pick, ‘Buy’ with target price at Rs 1,450

Once fully effected by September 2020, Siemens AG will have listed entities with clear focus on cash accretive growth and ambitious profitability targets.

Markets News

Axis Bank Rating | Hold — A steady core operating performance

Management has guided for stable NIM in the near term, though targets 3.5-3.7% NIM in two-three years. While corporate growth momentum was softer, retail momentum sustained; sustenance is key.

Markets News

Tata Steel ratings| Buy— Surprise in Europe ensures Ebitda beat

We estimate volume growth of 1mt in FY20 led by Usha Martin, ramp-up of Tata Steel (TS)-BSL and debottlenecking at Jamshedpur.

Industry News

Maruti Suzuki Ratings| Reduce — Q4 reflected revenue profile concerns

Margins likely to remain under pressure; FY20/21e EPS cut 9%; downgraded to ‘Reduce’ with TP revised to `6,501 from `6,814.

Industry News

UltraTech Cement Rating| Hold — A strong performance in the final quarter

Company making most of sector wave; FY20/21e Ebitda up 12/17%; TP raised to Rs 4,822; ‘Hold’ retained owing to limited upside

UltraTech Cement Rating, UltraTech Cement Q4FY19 performance, UltraTech Cement, Ebitda News

Stock corner: ‘Buy’ Reliance Industries, Q4 earnings beat estimates by 6.8%

Consumer and petchem segments did very well; demerger of tower and fibre arms to reduce leverage; TP up to `1701

reliance, reliance industries, reliancxe ratings News

Stock corner: ‘Hold’ NMDC shares, FY19 showing flags volume growth issue

Earnings likely to remain under pressure going forward; ‘Hold’ maintained

mahindra and mahindra , suv, automobile sector, automobile industry News

Maintain ‘hold’ on Den Networks with TP at Rs 74, suggests Edelweiss

Den Networks (Den) reported a weak Q4FY19 with revenue, Ebitda and PAT belying our estimates. K

den networks, edelwiss News

Stock corner: Maintain ‘Buy’ on JSPL with revised target price of Rs 225 – Edelweiss

JSPL has achieved Q4FY19 production/sales volume (highest ever) of 1.5mt/1.45mt. After near stagnant sales volumes over FY15-18 at 3.1-3.8mt, FY19 sales volume at 5.12mt translates in to a 36% y-o-y growth.

Maintain ‘Buy’ on JSPL with revised target price of Rs 225 (Representational image) News

Stock corner: ‘Reduce’ on Avenue Supermarts, target price at Rs 1,300

In light of increased aggression from offline retail giant as well as Big Basket, entry of Flipkart’s SuperMart, Amazon Pantry and pressure on gross margins, we maintain ‘Reduce’ with a target price of Rs 1,300.

‘Reduce’ on Avenue Supermarts, TP at Rs 1,300 News

Stock corner: Hold TCS shares, Tata Consultancy Services revenue beat driven by digital showing

With its execution and digital capabilities, TCS’ growth prospects best in industry; ‘Hold’ retained owing to rich valuations

Tata Consultancy Services Rating: Hold| Revenue beat driven by digital showing News

Vedanta Ratings| Buy — Operational miss for company in second half of this year

We expect Vedanta to turn around as operating leverage enhances performance at Zn-international and O&G divisions. Cost efficiencies at aluminium business should also yield better results. We maintain ‘BUY/SO’ with target

Vedanta Resources, Naveen Patnaik, Rajendra Prasad, Vedanta, Lanjigarh, odisha, orissa, bhubaneswar News

DLF Ratings| Buy — Completion of QIP comes as a boost

Importantly, it also removes regulatory uncertainties regarding fund infusion. Besides, DLF’s operations are improving gradually; we believe, the pace of inventory liquidation will be a key trigger for the stock.

Markets News

Analyst Corner| Vedanta — Maintain ‘Buy’ with target price of Rs 175

VEDL’s H2FY19 operating numbers were mixed. Key highlights, O&G production fell 2% due to natural decline at Mangla field, though gas volumes were better; production at Zn-India was lower due to geo-technical problems at RA

Markets News

Shoppers Stop rating| Buy — Company is headed in the right direction

Structural transformation augurs well; turnaround is probable; ‘Buy’ retained.

Industry News
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