Analyst corner: Suven Life Sciences’ earnings have reached sustainable base – Kotak Securities
Our analysis highlights that company’s earnings have reached a sustainable base (three drugs commercialised over past three years) and will continue to improve on this base going ahead.
Mangalore Refinery and Petrochemicals rating ‘Buy’: Weak GRM and inventory losses likely to dent earnings
Estimates revised to take into account headwinds; ‘Buy’ maintained with TP cut to Rs 92 from Rs 100
Analyst Corner: ‘Buy’ rating on CDSL with target price of Rs 290
Central Depository Services continues to gain market share in the month of Oct and Nov 2018 with net beneficial owner accounts increasing to 16.5mn at the end of November 2018 compared to 16 mn at the end of 2QFY19.
Prism Johnson’s focus to be on boosting plant utilisation
Between FY16 and FY18, company’s revenues grew at a CAGR of 1.3% while profits have jumped from Rs 81 mn in FY16 to Rs 705 mn in FY18 led by improvement in margins and capacity utilisation.
PNC Infratech: ‘Buy’ rating with target price of Rs 197
PNC has submitted duly executed financing documents to NHAI for the three HAM projects (in Chakeri Allahabad, Aligarh Kanpur and Challakere Hariyur) and expects to receive appointed date in the current financial year (FY19).
Analyst corner: Allcargo Logistics target price unchanged at Rs 145
Healthy performance in H1FY19 has given us confidence of a decent performance in FY19.
‘Buy’ on MOIL, TP at Rs 260; volume outlook is positive
MOIL Q2FY19 revenue was higher than estimates, driven by better-than-expected sales volume.
‘Buy’ on Supreme Industries with target price of Rs 1, 205
The company reported 24.7% y-o-y growth in revenue, which was driven by Rs 808.5 million contribution from sale of commercial real estate.
Analyst Corner: Recommend ‘buy’ on Cyient with TP of Rs 785
Cyient Q2FY19 revenue grew by 5.1% q-o-q in dollar term to $169 million ahead of our estimate of $166.4 million. Services grew by 2.3% and DLM revenue grew by ~27% sequentially in dollar terms.
Analyst corner: ‘Buy’on Engineers India with revised TP of Rs 155
EIL recently won Rs 50-bn order from HPCL
Castrol India: Kotak Securities rates ‘buy’; Says quarter performance met expectations
In Q1CY18, Castrol’s net revenue increased 5% y-o-y to Rs 9.3 bn supported by higher sales volume and higher realisation.
Why focus will remain on how govt manages fiscal deficit situation
Any shortfall in estimated GST collections or higher inflation is likely to keep yields elevated, thereby adversely impact market valuations.
Revise ‘buy’ on Cummins India with TP of Rs 862
We expect Cummins India to be able to deliver growth at c.16.4% CAGR (against flat YoY growth in FY18E) between FY18-20 given the continued momentum in industrial demand and potential benefits arising from improving economic
Recommend ‘reduce’ on Bodal Chemicals with TP of Rs 140
The management is upbeat about the dyestuff expansion plan and believes that, the recent uptick in Vinyl Sulphone and H-Acid prices shall support the final product prices and overall revenues.
RBL to scale up materially without teething issues
We met with the senior management of RBL and came back confident on its outlook and execution capabilities. Growth rates to remain healthy with benefits flowing from multi-channel distribution network.
Kotak gives ‘buy’ rating to Kansai Nerolac with TP at Rs 660
KNPL has maintained a low double digit volume growth rate in the decorative segment for the last 12 quarters in the decorative segment outperforming the performance of market leader Asian Paints and peer Berger Paints driven
Maintain ‘buy’ for Carborundum Universal with TP of Rs 418
CUMI Q3FY18 result was in line with our estimate. Volumes across divisions have started to pick up with exception to channel abrasives, severed by GST rollout.
Gabriel Indian gets buy rating by Kotak Securities
We met with the management of Gabriel India. The company is optimistic of healthy growth in revenues on the back of repeat business and new order wins.
Maintain ‘positive’ stance on KNPL with TP of Rs 600
The company supplies to nearly all the major auto OEMs across the four, two wheeler and LCV segment. KNPL's strong dominance in automotive paints segment is supplemented by its parent Kansai's association with global OEMs tha
MSIL rated buy by Kotak Securities
MSIL new products in the past couple of years continues to perform strongly with robust demand. Baleno/Dzire/Brezza and Ignis accounts for 40% of the company’s domestic sales volumes (up from 32% in FY17).
IT firms require innovation to stay in high-value spaces
Indian IT has invested over $1 bn in the last few quarters to gain access to IBM’s library of IP revenues with hopes of mid-teens IRR.
‘Accumulate’ on Engineers India; target price at Rs 221
Reiterating our positive view on EIL, we introduce and roll forward our target price on FY20 core earnings.
Vascon Engineers rated buy by Kotak Securities
Vascon Engineers Ltd (VEL) has presence in construction and development of residential and commercial real estate projects with a history of over 25 years.
Jindal Stainless rated buy by Kotak Securities
Jindal Stainless Hisar, is a Hisar unit of Jindal Stainless which got separated due to Asset Monetization Plan (AMP), in 2015.
VRL Logistics rated Buy by Kotak Securities with target price of Rs 500
VRL has reported a very strong H1FY18 and we expect the trend to continue in future quarters as well.
FIEM Industries stock rating: Buy says Kotak, price target Rs 1203
LED business is expected to remain under pressure in the near-to-medium term.
Blue Dart stock downgraded by Kotak, says revenues to grow 6 pct
Shrinking business in the B2B segment, increasing competition and slowing business from the e-commerce segment has been impacting the performance of Blue Dart Express (BDE) since few quarters.
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