Edelweiss

Equitas stock is top Edelweiss pick, says Buy with target price of Rs 220

We met the top management of Equitas Holdings (Equitas), which reinforced our confidence that it is on course to build a sustainable and scalable small finance bank franchise.

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Voltas stock rated Buy by Edelweiss, says company well prepared to tap new opportunities

Our recent interaction with Voltas’ (VOLT) top management instills confidence in VOLT’s long-term growth prospects. Key highlights:

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Future Retail stock rating is Buy; Edelweiss says vision 2047 conveys scale of ambition

Strong SSSG, improving margins, and better inventory turns estimated to push RoE to 24.1% over FY17-19.

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J Kumar Infraprojects stock rated Buy with target price of Rs 294 by Edelweiss

J Kumar Infraprojects’ (JKIL) Q2FY18 revenue, at Rs 3.2 billion, rose 2% y-o-y; execution was impacted by raw material shortage post closure of quarries and heavy monsoon.

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Looking to Buy Brigade Enterprises stock? Edelweiss raises concerns on RERA, GST uncertainty

With scale-up plans on track, operations likely to improve; TP revised to Rs 345

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Is Kalpataru Power stock a Buy? Here is what Edelweiss has to say to investors

Kalpataru Power’s (KPP) Q2FY18 headline numbers came in line with estimates.

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Britannia Industries stock: Here is what Edelweiss has to say

Britannia Industries’ Q2FY18 revenue, EBITDA and PAT growth of 6.6 %, 11.4 % and 11.6 % y-o-y, respectively, came in line with estimates

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Jain Irrigation system stock rating: Edelweiss says performance below par

The agro processing division clocked strong domestic performance, but international operations underperformed. JISL’s net debt jumped by ~Rs 2.3 billion y-o-y to Rs 43.4 billlion, including Rs 3.2 billion related to the US

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Looking to Buy Britannia Industries stock? First, see what Edelweiss is saying

This, coupled with cost rationalisation and efficiency improvement measures, led to EBITDA margin jumping 64 bps y-o-y. We envisage entry in new categories & geographies, improving premiumisation drive and pick up in demand t

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Apollo Hospitals stock: Edelweiss has this to say over its resilience in face of odds

RoCE estimated to improve over medium to long term: New hospitals, with ~Rs 12 bn capital employed, are running at ~40% occupancy and are yet to contribute to RoCE.

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IPCA Labs gets Reduce rating with Rs 440 target price form Edelweiss; see what investors should do

Ipca Laboratories’ (Ipca) Q2FY18 revenue/EBITDA/PAT was (2%)/16%/76% y-o-y. Recently, Ipca re·qualified for the Global Fund tender, which it had lost in April 16.

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Gujarat State Petronet stock: Is it a buy? What Edelweiss is telling investors

Gujarat State Petronet (GSPL) reported strong Q2FY18 EBITDA of Rs 300 crore, up 26% y-o-y and 8% q-o-q (22% ahead).

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Ashoka Buildcon stock: Looking to buy? See what Edelweiss says

Ashoka Buildcon’s (ABL) Q2FY18 revenue was impacted by: (a) GST uncertainty; (b) Floods in Bihar; and (c) Local agitation against the Eastern Peripheral Expressway project.

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Godrej Properties sales humming, but is the stock a buy? Edelweiss makes this recommendation

GPL’s operations will continue to scale-up aided by its strong brand, diversified land bank and ability to augment project portfolio via partnerships.

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Want to buy Deepak Fertilisers shares? Here is some profitable news

Deepak Fertiliser’s Q2FY18 numbers were marginally below estimates.

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Indigo airlines parent InterGlobe Aviation stock rated Hold by Edelweiss, says high yields spurred performance in Q2

InterGlobe Aviation (IndiGo) posted strong operational performance with Q2FY18 Ebitdar jumping 61% y-o-y, driven by 9% surge in yields.

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Max India stock rated Buy by Edelweiss with Rs 170 TP

Max India’s (Max) hospital business (MHC) revenue grew 6% to Rs 6.76 billion, while EBITDA declined 14 % y-o-y to Rs 690 million.

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Bharat Electronics stock rated Buy by Edelweiss of excellent Q2 operational performance

Bharat Electronics (BEL) sustained its execution and OPM beat trend for the third consecutive quarter in Q2FY18.

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Tech Mahindra stock rated Buy with TP of Rs 546 by Edelweiss as margins surpass estimates

Tech Mahindra’s Q2FY18 revenue of $ 1,179 million and margin of 14.5% surpassed Street’s estimates led by operational efficiency.

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Numbers soft, Edelweiss puts Divi’s Labs rating at Reduce with Rs 545 TP

Divi's Laboratories’ Q2FY18 numbers were soft with revenue, EBITDA and PAT declining 11 %, 5 % and 33 % y-o-y, respectively. Adjusted for one-off staff bonus of Rs 791 million last year, EBITDA fell 25 %.

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‘Buy’ on Equitas Holdings with target price of Rs 220

Equitas Holdings’ Q2FY18 performance reflected improving underlying strength, indicating that earnings may have bottomed out in the quarter.

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Maintain ‘Hold’ on Rallis India; target price at Rs 223

Rallis India’s Q2FY18 consolidated revenue of Rs 5.9 billion was up 9 % y-o-y, but below our 15 % growth estimate. Standalone revenue of Rs 5.5 billion grew 11% y-o-y, driven by double-digit growth in both domestic and expo

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Maintain ‘buy’ on Havells India; TP at Rs 564

Havells India (Havells) posted better PAT, despite the top-line miss, led by improved OPM across businesses.

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Edelweiss rates Wipro stock as Hold, revises Target price at Rs 280

In the past 1 year, the stock has given 22% returns and is currently trading at 14.5x FY19E EPS.

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IndusInd Bank’s rural bet

IndusInd Bank (IIB) and Bharat Financial (BhaFin) are finally set to merge (subject to RBI, CCI, SEBI and NCLT approvals). IIB board has agreed on swap ratio of 0.639:1 (639 shares of IIB for 1,000 BhaFin shares).

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Reliance Jio a surprise, Edelweiss rates Reliance Industries stock as Buy

RJIO debuted with EBIT breakeven, with healthy ARPU of Rs 156 and 139 million subscribers. RJIO’s operating cost surprised positively with unit network cost 49% lower than Idea’s in Q1FY18.

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Oberoi Realty: New launches expected to boost sales

Favourable product mix led to EBITDA margin expansion, 4% y-o-y and 2% q-o-q to 54%. Consequently, net profit spurted 25% y-o-y to Rs 1.05 billion, up 15% q-o-q versus our estimate of Rs 979 million.

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