HSBC

Articles By HSBC

142 Articles

Indian IT Services: Shaken, not expensive

Demand’s unlikely to improve, but the valuations are reasonable

Indian IT Services: Shaken, not expensive

Retain ‘hold’ on CESC, lower target to Rs 589: HSBC

We retain our ‘hold’ rating on CESC with a lower target price of Rs 589 per share (earlier Rs 602). We use a DCF-driven sum of the parts approach to value CESC.

Retain ‘hold’ on CESC, lower target to Rs 589: HSBC

Buy rating on Bharti Airtel; Bharti’s ‘Project Leap’ leaves the markets jittery

Despite increased capex spend to meet the 4G challenge and make the most of growing smartphone penetration, telco’s balance sheet is likely to improve

bharti airtel share price News

Retain ‘reduce’ on Siemens India for slow recovery: HSBC

Siemen's 4Q recurring earnings grew 14% y-o-y (6% below consensus), despite a modest top-line growth of 3% y-o-y (9% y-o-y adjusted for metals business).

Retain ‘reduce’ on Siemens India for slow recovery: HSBC

Auto Sector update: Was ‘October’ a flash in the pan or the start of a turnaround?

Discretionary consumer spending was mediocre until September.

Auto Sector update: Was ‘October’ a flash in the pan or the start of a turnaround?

Buy rating on Oil India Ltd: Levered to oil price

While oil production volumes at 0.8 mmt saw a marginal downtick, gas production volumes were higher 9.3% q-o-q and 1.2% y-o-y

Buy rating on Oil India Ltd: Levered to oil price

‘Reduce’ SAIL, target price at Rs 28: HSBC

SAIL’s adjusted (for higher DMF provisions) 2QFY16 EBITDA stood at a negative Rs 860 crore, much lower compared to profit of Rs 1,340 crore in 2QFY15.

‘Reduce’ SAIL, target price at Rs 28: HSBC

Maintain ‘hold’ on Sobha, target Rs 310: HSBC

Sobha Developers 2Q FY16 results disappointed again as net profit was down 32% y-o-y at INR 401 mn, lowest in last 4 years.

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Downgraded to hold rating on Larsen & Toubro; Growth outlook turns challenging

A combination of increased competition and slower-than-expected recovery in domestic infrastructure and industrial capex sectors hurt L&T’s new orders during Q2FY16 (down 28% y-o-y).

Larsen & Toubro News

Maintain ‘hold’ on Oberoi Realty with Rs 290 target: HSBC

Oberoi Realty's presence is limited to Mumbai currently.

sensex and nifty News

Maintain ‘hold’ on Cadila, target Rs 431: HSBC

Cadila Healthcare’s 2QFY16 net profit of R390.9 crore (41% y-o-y) was primarily due to better product mix and forex gain.

Maintain ‘hold’ on Cadila, target Rs 431: HSBC

HSBC maintains ‘Buy’ rating on Axis Bank; target price Rs 623

Loan growth and asset quality surprise elements in Q2 results even as there are risks to margins being sustained in near term

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Retain ‘reduce’ on CCI, target price Rs 1,262: HSBC

Container Corp of India (CCRI’s) 2Q top-line grew 16% y/y (5% below HSBCe though in line with consensus). While EXIM revenue growth was up 16% y/y it was more reflective of the haulage rate hike.

Retain ‘reduce’ on CCI, target price Rs 1,262: HSBC

Retain ‘buy’ on Cairn India, target Rs 179

Maintain ‘buy’ on Cairn India with a target price of Rs 179 per share (earlier R165) as we include the cash the loan given by Cairn to group company.

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‘Hold’ GAIL as a proxy for oil: HSBC

Retain ‘hold’ on Gas Authority of India (GAIL) but lower our target price to R330 (earlier R385) as we adjust for lower oil prices and marginally lower gas volume.

‘Hold’ GAIL as a proxy for oil: HSBC

Buy rating on Tata Motors: JLR’s outlook depends on new diesel regime

Higher R&D cost in the offing for JLR in case of a shift in diesel demand or stricter emission norms being put in place

Buy rating on Tata Motors: JLR’s outlook depends on new diesel regime

Buy Titan on positive risk-reward: HSBC

Maintain 'buy' on Titan with a target price of R420 per share. Titan current stock price (FY17 P/E of 29.6x), builds in long term earnings growth expectations of a modest c11%, which in our view are undemanding and revival in

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Maintain buy on IDFC, target Rs 163: HSBC

We are cutting our estimates by 116% in FY16e due to the one-time impact of Rs 2,500- crore provisions against stressed loans and higher opex.

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HSBC reiterates Reduce rating on Reliance Communication

Spectrum trading with 4G players could offer the telco some respite

Reliance Communications share price, sensex News

Retain buy on Suzlon, target Rs 30: HSBC

The government has cleared the way for offshore wind energy development in waters up to a distance of 200 nautical miles within the Exclusive Economic Zones...

suzlon bse News

Upgrade JSW Energy to buy, target Rs 112: HSBC

JSW Energy formally announced the final closure on its hydro assets purchase from JPVL. While the original deal was announced at Rs 9,800 crore...

Upgrade JSW Energy to buy, target Rs 112: HSBC

Buy rating on Cipla; buys a shot in its arm: HSBC

Cipla acquires two generics businesses in the US: Cipla has announced it is acquiring two privately held generic pharma businesses, InvaGen and Exelan Pharma, in the US for a transaction value (TV) of $550m.

Buy rating on Cipla; buys a shot in its arm: HSBC

Initiate buy on Emami, target Rs 1,500: HSBC

Initiate ‘buy’ on Emami with a target price of Rs 1,500 a share. The stock trades at a FY17e PE of 34 times...

Initiate buy on Emami, target Rs 1,500: HSBC

Retain hold on Dabur but increase target price to Rs 310: HSBC

DABUR BUILDS IN long-term earnings growth of 13-14%, which we think is not excessive

Retain hold on Dabur but increase target price to Rs 310: HSBC

Maintain reduce on BoB as asset quality outlook remains weak: HSBC

Bank of Baroda’s Q1FY16 PAT earnings came in R1,050 crore (-23% y-o-y), 69% above our estimate and 17% above consensus.

Maintain reduce on BoB as asset quality outlook remains weak: HSBC

Retain reduce on ABB India but raise target: HSBC

ABB India’s Q2 2015 revenue grew 6% y-o-y (in-line with HSBCe).

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Retain hold on Wipro, lower target to Rs 650: HSBC

With Abid Neemuchwala from TCS as the COO, Wipro has built a strong management team now.

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