Edelweiss

Ready for the future with new strategies

Hindustan Unilever is getting future·ready by inculcating a growth mind·set and enriching capabilities.

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Investment alert: Edelweiss rates DLF ‘buy’ as improvement in operations continues

Company is on an upward trajectory; restart of sales is likely to aid cash flows; deleveraging process to ease access to and cost of capital.

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Maintain ‘buy’ on Adani Ports and SEZ with TP at Rs 490

Our recent visit to Adani Ports SEZ’s (APSEZ) flagship ‘Mundra’ port where we interacted with top management left us enthused about the company’s long-term growth prospects.

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Edelwiess gives Welspun India ‘Buy’ Rating: Headwinds stymie growth again

WLSI’S product category remains relatively insulated from this shift. Ergo, they remain confident of double digit revenue growth in FY19.

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Edelwiss rates Tata Steel ‘Buy’, says asset buys will not be a drag

Numero uno position comes at seemingly expensive valuation… We perceive high probability of TSL doubling its capacity by FY22 if it is successful in acquiring Bhushan Steel and Bhushan Power & Steel, enabling it to become t

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Edelwiss rates Zuari Agro Chemicals as ‘buy’, says quarter saw yet another strong performance

ZAC’s (standalone) performance continued to remain strong with revenue jumping 46% y-o-y to Rs 14.3 bn (29% above estimate) driven by 49% spurt in sale volume (production volumes up 9% y-o-y).

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‘Buy’ on Carborundum Universal with TP of Rs 426

Carborundum Universal’s (CUMI) Q3FY18 consolidated revenue grew 16% y-o-y led by volume growth across segments.

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Q3 results broadly met estimates

Company’s focus on retail penetration and sales network augurs well; FY18e PAT cut 8%; ‘Buy’ retained

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Maintain ‘buy’ on Dhanuka Agritech with TP of `861

Dhanuka Agritech’s (DAL) Q3FY18 revenue at `2.2 billion (up 5% YoY; 7% volume growth) came 5% below estimate as low crop prices, erratic monsoon and GST impacted performance.

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Punjab National Bank gets ‘buy’ tag from Edelweiss, TP down to Rs 236 from Rs 256

Fresh slippages curtailed even as business momentum improved; FY18/19e EPS cut 40/8% due to Q3 showing; TP down to Rs 236 from Rs 256.

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Hindalco Industries stock rated ‘buy’ by Edelweiss with TP of Rs 325

Fall in alumina price and robust LME Al price are positives; the focus on value-added products is likely to boost profitability.

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Maintain ‘buy’ on Gujarat Gas with TP to Rs 1,068

Q4FY18 appears robust, as margin has recovered following 10% price hike post Gujarat elections, while volumes have inched up to 6.5mmscmd.

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Turnaround in fortunes gets Jindal Steel & Power stock a ‘Buy’ rating

Standalone PAT level loss at Rs 767 mn was the lowest ever. Going ahead, we believe the company will continue to benefit from robust domestic longs prices (short term) and ramp-up in Angul volumes (long term).

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Shriram Transport Finance gets buy rating from Edelweiss

Expected cyclical tailwinds to help sustain robust showing; TP up to `1,740 with rollover to FY20e.

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Indiabulls Housing Finance gets buy rating from Edelweiss

IHFL maintained FY18 growth guidance of 20-25% across financial parameters. The company is envisaged to sustain superior return ratios.

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Asian Paints to benefit from recovery in GDP

Asian Paints’ (APL) Q3FY18 consolidated sales up 8.2% y-o-y came slightly below estimates, while EBITDA, up 14.8% y-o-y surpassed estimates.

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South Indian Bank gets buy rating from Edelweiss

Its strategic exercise has put the bank on firm footing; risk-reward favourable; TP up to Rs 44 with rollover to FY20e

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TCS stock rating: Turnaround in sight, ‘Hold’, says Edelweiss

Q3 in line with estimates; high dividend yield is likely; target multiple up to 18x from 16x, with rollover to FY20e and TP at Rs 2,844

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Federal Bank gets buy rating by Edelweiss

Bank is well placed; FY18e EPS down 6.5% even as TP rises to Rs 152 from Rs 146

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Federal Bank rated buy by Edelweiss

The rise was driven by one-off increase in retail portfolio (impact of education loan given anticipated state dispensation). Meanwhile, SME and agri slippages were within trend, with marginal rise in corporate slippages (gran

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Avenue Supermarts gets buy rating from Edelweiss

During FY13-17, D’mart clocked revenue, EBITDA and PAT CAGR of 37.4%, 46.2% and 50.3%, respectively.

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NMDC rated buy by Edelweiss

We upgrade NMDC to Buy with a revised target price of Rs 195 (12x FY20E EPS, 7x FY20E Ebitda as we expect: (i) favourable tailwinds to lend impetus to volume growth; (ii) the recent price hike of 19-22% to largely sustain; an

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Jindal Steel rated buy by Edelweiss

We reiterate ‘buy’ on Jindal Steel & Power (JSPL) with an unchanged target price of Rs235 on the ensuing operating leverage benefits for the company with completion of its 3mtpa basic oxygen furnace (BOF) at Angul

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Ready for a new phase of its existence

Focus on demerged unit could make it one of the fastest-growing textile companies; TP at Rs 493

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Bharat Heavy Electricals Limited (BHEL) rated Buy

The Udangudi project located in Thoothukudi district of Tamil Nadu will be executed by BHEL on EPC basis. All clearances for the project are in place.

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Tech Mahindra stock rated Buy by Edelweiss, says set for industry leading growth

We recently attended Tech Mahindra’s (TECHM) analyst meet, which offered insights into the company’s strategy.

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‘Buy’ Havells India stock says Edelweiss as framework of growth in place

Management stated that the entrepreneurship culture at HAVL has led to bolder & swifter decisions in the organisation, which has spurred growth.

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