ICICI Securities

Stock corner: ‘Add’ City Union Bank at unchanged target price of Rs 210 – ICICI securities

Management also clarified that it would continue with its strategy of tapping the small-ticket self-employed segment.

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Long road to redemption for Yes Bank; check share price target

Unless investors wish to give a significantly higher multiple for a long-term RoE potential (over 5 years), we expect the stock to see a suppressed multiple range of  ~1-1.5x in the interim, leading to our TP of Rs 197, impl

RBI slaps Rs 11 lakh fine on Yes Bank for violating money transfer norms News

Banking: Performance likely to see all-round improvement

While loan growth is seeing a healthy pick-up for both private banks and SBI, the latter is likely to see greater traction in margin improvement given comfortable funding costs.

RBI Rate Cut effect: SBI announces to cut lending rates from 1st may 2019 News

SRF Ltd Ratings| Add — Order on Dahej facility could impact first quarter

Dahej is SRF’s most important facility as it contributes a majority of its chemical business revenue, which was expected to report strong growth after two years of tepid performance.

Markets News

Kaveri Seeds: Growth story intact in long term; TP Rs 598

We note that Kaveri has launched multiple variants of rice (selection+hybrid) and maize seeds. The firm is also investing in development of vegetable seeds.

Markets News

Stock corner: Buy Jubilant Foodworks, venture has promise

Maintain Buy on JUBI with DCF-based TP of `1,650. At our TP, the stock will trade at 46x P/E multiple Sep-20e. Key downside risk includes pressure on margins from aggressive new store expansion.

Markets News

‘Buy’ Kalpataru power & transmission, Nordic deal is likely to boost prospects

Swedish buy will not affect debt position; ‘Buy’ maintained with revised TP of Rs 547

‘Buy’ Kalpataru power & transmission, Nordic deal is likely to boost prospects

Stock corner: ‘Hold’ Akzo Nobel India, valuation is lowest among peers

Company plans to use global technology for profitability; valuation is lowest among peers; ‘Hold’ maintained

Stock corner: ‘Hold’ Akzo Nobel India, valuation is lowest among peers

Mahindra CIE Automotive Rating: Buy — Acquisition to boost growth prospects

30% rise in Ebitda expected in FY20e from AEL buy; outlook is bright in medium term; ‘Buy’ maintained.

mahindra, mahindra cie, mahindra cie automotive News

Stock call: Buy Larsen & Toubro Infotech with target price of Rs 1,905

evenues at top 5, top 6-10, top 11-20 and non-top-20 clients increased by 15.3%, 24.2%, 24.6% and 24.1% respectively in 9MFY19. Likewise, execution has been strong across all its key strategic imperatives.

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Real Estate Stock Call: ‘Buy’ DLF, Oberoi, Prestige, Brigade shares; office space recovers

Players with strong annuity portfolio are to be preferred; ‘Buy’ on DLF, Oberoi Realty, Brigade and Prestige Estates.

Real Estate Stock Call: ‘Buy’ DLF, Oberoi, Prestige, Brigade shares; office space recovers

Hindalco Industries: Downstream capacity looks saturated

Synergy with Aleris is underway; cyclicality in porfolio additions is a negative; ‘Reduce’ retained.

Markets News

Downgrade IOC to ‘hold’ with target price of Rs 160 – ICICI Securities

IOC’s 9MFY19 standalone EPS was down 33% y-o-y hit mainly by 30% y-o-y decline in reported and 20% y-o-y decline in core GRM.

Markets News

Maintain ‘buy’ on MCX with target price unchanged at Rs 904: ICICI Securities

Institutional participation is expected to gradually pick up in commodity derivatives with channel education, marketing initiatives and introduction of commodity indices.

Markets News

Analyst corner| JBCPL: Maintain ‘buy’ with target price of Rs 440

The company has started working on new products for Russia & CIS which would drive additional growth in this geography over medium term.

Markets News

‘Buy’ Ultratech Cement: Integration of acquired assets to boost prospoects

Acquisition of 14.6-mnte cements assets of CENT likely to be consummated by Q1FY20: Management sees potential to improve Ebitda/te of the said assets by `300-400/te largely through re-branding (existing price gap of `10-15/ba

Markets News

GE T&D India Rating:Add; Strong order intake came as a surprise

The company’s strategy is to expedite the execution, thereby improving the overall margins due to early completion. Adjusted for drop in HVDC contribution in revenue, the overall sales were flat at `11 bn in the third quart

Markets News

‘Buy’ Mahindra CIE Automotive: Eighth straight quarter of a beat

MACA India’s topline grew 15% y-o-y despite 2% y-o-y decline in production volumes of its key customers.

Markets News

Redington India share: Buy with a target price of Rs 100

During the quarter, Redington MEA subsidiary undertook impairment of investment made in Arena to the tune of $10.2 m due to devaluation of Turkish Lira against the US dollar.

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Analyst corner: ‘Add’ on Thermax with a target price of Rs 1,333

Overseas subsidiary performance is expected to turn around which coupled with gradual improvement in domestic margins will enable improvement in the overall margins.

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ANALYST CORNER: Maintain ‘buy’ on Ceat with target price of Rs 1,364

Gross margin improved 170 bps q-o-q to 40.1% (still lower by 110 bps y-o-y) helped by price hikes taken in the last few quarters.

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Analyst Corner: Maintain ‘buy’ on RBL Bank with revised TP of Rs 700

Loan growth remained healthy at 35% driven by non-wholesale lending which now constitutes 43% of the book, growing at 47% y-o-y.

Markets News

Analyst Corner: Maintain ‘buy’ on Mphasis with target price of Rs 1,110

As a reminder, deal intake from the Blackstone channel was strong at $158 million in FY18, which is helping revenue accretion in FY19.

Markets News

Quarter results were a tad below estimates

FY19e earnings moderated to reflect 9MFY19 showing; ‘Hold’ maintained with TP revised to Rs 259 from Rs 273

Quarter results, Hindustan Zinc, Rampura Agucha shaft, Capex News

Analyst Corner: ICICI Prudential is trying earnestly to resurrect itself

A closer look into the broader life insurance sector suggests that not much has changed in terms of the interplay between the private life insurers and the public behemoth LIC of India.

ICICI Prudential, ICICI Prudential news

Kajaria Cements: Maintain ‘Buy’ with a target price of Rs 625

KJC reported impressive Q3 numbers – strong volume growth and firm margins q-o-q – despite a tough economic environment. The numbers were in-line with our estimates but demonstrated a significant beat over consensus.

Markets News

Analyst Corner: ‘Buy’ on HDFC Bank, target price at Rs 2,458

Growth in advances was led by both corporate and retail, each growing 24% y-o-y. The bank has received the divergence report from RBI, which is below the reporting threshold.

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