Articles By Edelweiss

561 Articles

Analyst Corner: Maintain ‘buy’ on Eicher Motors, target price Rs 25,442

Eicher Motors (EIM) posted Q2FY19 consolidated Ebitda in line with our estimate (up 7% y-o-y to Rs 7.3bn).

Markets News

Analyst corner: Retain ‘buy’ on TeamLease, target price Rs 2,801

Post a slow FY18, it is becoming evident that TeamLease Services (TeamLease) is making a strong comeback to growth in H1FY19 as it has added 18,000 associates (11% addition over FY18-end).

Markets News

GlaxoSmithKline Consumer Healthcare rated ‘hold’; Q2 FY19 results surpassed expectations

FY19/20e EPS raised by 9.1/10.5%; TP up to `7,297; ‘Hold’ retained owing to the overhang of Horlicks review.

GlaxoSmithKline Consumer Healthcare rated ‘hold’; Q2 FY19 results surpassed expectations

Analyst corner: Maintain ‘buy’ on Coal India with target price of Rs 325

Coal India’s (CIL) October 2018 off take grew 3.6% y-o-y after two preceding months of relatively soft performance.

Markets News

Dabur rating ‘Buy’: Q2 results in keeping with estimates

Secular and diversified growth continued; Dabur likely to log double-digit volume growth in FY19; ‘Buy’ maintained

Markets News

Analyst Corner: ‘Hold’on APL; resolution of Mundra could provide relief

Adani Power’s (APL) Q2FY19 PAT of `3.8 bn surpassed our estimate on account of `11.3 bn compensatory tariff (CT) booked in lieu of non-availability of coal for the Tiroda plant.

Markets News

Colgate Palmolive rating ‘Hold’: Q2 results in line with estimates

We maintain that Colgate’s market share loss has largely bottomed out, but improvement is likely to be gradual.

Markets News

Analyst corner: On Coromandel International, maintain ‘buy’, TP at Rs 542

Coromandel International (Coromandel) reported Q2FY19 results in line with expectations in spite of a steep cost environment in H1FY19.

Industry News

Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% ov

Banking & Finance News

Analyst Corner: ‘Buy’on IDFC Bank, TP at Rs 43; CapF merger is value accretive

IDFC Bank (IDFCB) reported Q2FY19 loss of `3.6 bn due to higher credit cost and much higher opex (up >23% q-o-q).

Industry News

Interglobe Aviation rated ‘Buy’; Dismal second quarter for the carrier

Fuel, forex and fares wiped out PAX growth; FY19/20e Ebitdar cut 25/10% owing to pricing pressure; TP lowered to Rs 1,073.

Industry News

Analyst corner: Maintain ‘buy’on PVR, revised TP at Rs 1,538

PVR’s Q2FY19 revenue, EBITDA and PAT exceeded our estimates, primarily due to higher F&B revenue.

Markets News

NTPC rating ‘Buy’: Primed to tap rise in power demand

Company likely to make most of inorganic growth opportunities; CERC norms are an overhang on stock; ‘Buy’ maintained

NTPC rating, NTPC power demand, NCLT route,  renewable energy ,CERC norms, stressed assets News

Analyst Corner: Maintain ‘hold’on Wipro, revised target price Rs 340

Wipro’s Q2FY19 IT services’ revenue at $2,041 million (up 0.7% Q-o-Q) surpassed Street’s 0.3% decline estimate. Adjusting for divestment of the data centre business, revenue grew 1.9% in dollar terms and 2.8% in cc.

Markets News

Vedanta Rated ‘buy’, operating numbers register a slight miss

Performance likely to turn around Q3 onwards with volumes offsetting LME headwinds; FY20e Ebitda up 2%; ‘Buy’ retained.

vedanta, buy News

Analyst corner: Maintain ‘buy’ on M&M with TP of Rs 1.071

Our channel checks indicate that underlying demand for M&M’s key offerings continues to be strong.

economy, india economy News

Analyst Corner: ‘Buy’ on Indiabulls Housing Finance with TP of Rs 1,258

Indiabulls Housing Finance’s (IHFL) Q2FY19 is characterised by a steady core operating performance with AUM growth sustaining at 29% and earnings growing 20%-plus.

Markets News

Analyst Corner: Maintain ‘buy’ on KBL with revised TP of Rs 138

Karnataka Bank (KBL) reported a mixed Q2FY19 performance. PAT at Rs 1.1 billion (up 20% Y-o-Y) was supported by lower credit cost and controlled opex (down >2% YoY), even while core profitability was muted.

Markets News

Bajaj Auto rated ‘hold’; volumes take precedence over margins

Volume/EPS CAGR of 16/12% over FY18-20e; return of rational pricing to industry is awaited; ‘Hold’ rating maintained

Markets News

Analyst Corner: Retain ‘buy’ on Business Services sector on steady growth

While these stocks have corrected 25–32% in the past three months, we reiterate that organised business services remain under-penetrated in India and, hence, a headcount CAGR expectation of 9–10% over the next six–seven

Markets News

JSW STEEL Rating ‘Buy’: Growth levers are intact for company

FY19/20e Ebitda up 4/13% to factor in earnings from overseas assets; while stock is trading at a premium, TP raised to Rs 433 from Rs 372

Markets News

Analyst Corner: Maintain ‘buy’ on Aarti Industries, stock valued at 20x P/E

In the near term, AIL will benefit from commissioning of brownfield expansion of chlorination and hydrogenation plant at Jhagadia, Gujarat.

Markets News

Maintain ‘buy’ on Tata Steel, JSW Steel and JSPL

Domestic steel stocks were roiled today post China’s announcement that might result in winter cuts being less severe compared to CY17.

Tata Steel, JSW Steel, JSPL, Domestic steel stocks, North China, steel, air pollution News

NMDC rated ‘buy’; at a vantage point for better performance

Price hikes and estimated volume recovery brighten prospects; valuation is attractive; ‘Buy’ retained.

Markets News

Tech Mahindra rated ‘buy’; telecom revival boosts prospects

INR fall and cost cuts to help margins; FY19/20e Ebitda raised by 5.2/6.5%; ‘Buy’ retained with revised TP of Rs 970

Markets News

Analyst Corner: ‘Hold’ on Max India with target price of Rs 90

Radiant Life (Radiant), KKR’s portfolio company, recently announced that it will acquire Life Healthcare’s 49.7% stake in Max Healthcare (MHC).

Markets News

Adani Ports and SEZ Rating ‘Buy’: Volume momentum is going strong

Given its $1.9-billion unhedged foreign currency exposure, Adani Ports SEZ (APSEZ) is caught in the recent USD/INR crossfire.

Industry News