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Kotak

Articles By Kotak

126 Articles

Kotak puts ‘Buy’ rating on Maruti Suzuki shares; target price Rs 6, 300

Maruti Suzuki launched its new compact SUV Ignis which we believe is likely to be another winner due to its superior features, performance and higher fuel efficiency than its competition.

Kotak puts ‘Buy’ rating on Maruti Suzuki shares; target price Rs 6, 300

Kotak puts ‘Buy’ on Bajaj Corporation; target price Rs 450

Bajaj Corporation’s Q3FY17 print was broadly in line with our estimates. ADHO volumes declined 4% y-o-y due to demonetisation impact (though in line with our estimates) accentuated by distributor destocking, sharp dip in wh

Kotak revises Infosys target price downward to Rs 1,140

Infosys delivered steady Q3FY17 performance. We detail our thoughts on three metrics that have raised concerns— decline in revenue from top-10 accounts...

Kotak revises ABB EPS estimates upwards; target price Rs 1,050

The ABB-BHEL consortium has won the Raigarh-Pugalur UHVDC order from PGCIL with a large portion of ABB’s Rs 43 billion work share expected to flow through ABB India.

Kotak bank, kotak mahindra bank, bank, K G Marg, PMLA, prevention of money laundering act, note ban

Demonetisation impact: After note ban hit, Kotak says tread carefully on consumer products

We expect aggregate revenues to decline marginally while EBITDA/PAT is likely to decline 5-6% year-on-year impacted by demonetisation.

Kotak maintains ‘Add’ rating for Tata Power

The spike in prices of imported coal over the past three months augurs well for earnings from Indonesian mines for Tata Power, even as the loss levels at the Mundra UMPP will likely increase.

Kotak maintains ‘Add’ rating for Tata Power

Realty volume to be hit in near term

While in the long run all can go well, it’s the near-to-medium-term cash flows that will make developers grow/survive.

Kotak says ‘Buy’ Cipla as market share set to grow

Cipla announced the approval of Seroflo, the second generic version of Advair pMDI in the UK, the largest market for the product globally.

Kotak maintains ‘Reduce’ rating on Wipro, highlights ‘multiple headwinds’

Wipro has taken an interesting approach towards digital through Wipro Digital, a unit that is branded separately and focuses entirely on business outcomes using strategy, design and technology as the enablers.

Kotak puts ‘Buy’ rating on Cipla; product launches to continue till FY19

Cipla announced the approval of Seroflo, the second generic version of Advair pMDI in the UK, the largest market for the product globally.

Cipla, Advair, Seroflo, DPI, ProAir HFA ANDA

Kotak puts ‘Add’ rating on Tata Steel at Rs 460 target price; JSW Steel at Rs 1,900

The sharp increase in coking coal costs will hurt near term margins of Indian steel companies due to the lag effect in transition of increased cost to higher steel prices.

Kotak puts ‘Add’ rating on Tata Steel at Rs 460 target price; JSW Steel at Rs 1,900

Kotak reduces Voltas target price to Rs 325

Voltas sees limited need to revise its near-term business targets and business model following demonetisation and keen competition.

Kotak reduces Voltas target price to Rs 325

Bajaj Finserv rated ‘Reduce’; Kotak says consumer business going strong

Bajaj Finance has fared well in the consumer vertical during November 2016, gaining market share and improving collections.

FY17 earnings estimates for cement lowered

Cement prices have corrected by Rs 4 per bag MoM on an all-India basis, with dealers suggesting that business has halved since the currency demonetisation even as companies maintain a lower impact on volumes.

FY17 earnings estimates for cement lowered

RBI rate cut: 25-50 bps reduction in CY17 possible, says Kotak

RBI surprised with a status quo on policy, premised on upside risk to Q4FY17 inflation and limited transient growth drag owing to demonetisation.

Revise SoTP to R210 on Ashoka Buildcon

Beyond an in-line quarter for execution and traffic growth, we note positives in good order pipeline for 2HFY17, limited support needed from SBI-Macquarie to capture such opportunity and limited impact of demonetisation on EP

Demonetisation has severely hit 2-wheeler sales: Kotak

Post the announcement of demonetisation, retail sales of two-wheelers have got severely impacted (down ~30-50% y-o-y) in various regions in India largely due to lack of adequate cash in hands of customers.

Demonetisation, Retail, Bajaj Auto, two-wheelers, Retail Sales

Tata Steel Europe not to be affected by Liberty House 100 mn pound deal, but will go a long way to cut cash burn in long run

The deal does not affect overall financials of the company much but reaffirms its plans to look for strategic alternatives for larger operations in the UK and the Netherlands.

Kotak maintains ‘Sell’ rating on Siemens

Disappoints again. FY2016 earnings were below estimate led by lower-than-expected margin. Order inflow has been strong through this year and provides good revenue visibility for the next year.

Kotak maintains ‘Sell’ rating on Siemens

Kotak retains ‘Add’ on Max Financial Services; target price Rs 595

Max Life reported 18.5% NBAP margin and 16% operating RoEV in H1FY17, supported by 18% APE growth, which was broadly on expected lines.

Kotak retains ‘Add’ on Max Financial Services; target price Rs 595

Demonetisation: Expect householder, businesses in ‘black’ economy to rethink their finances, says Kotak

We expect businesses and households in the ‘black’ and informal economy to have a serious rethink about their finances given the large ‘psychological’ impact of the government’s recent demonetisation measure.

With income ahead of estimates Kotak says Petronet LNG outlook positive

PLNG’s 2QFY17 net income at Rs 4.6 billion was well ahead of our estimate, primarily driven by robust volume growth to 189 tn BTUs (Dahej: 3.6 million tonnes, Kochi: 0.1 million tonne).

With income ahead of estimates Kotak says Petronet LNG outlook positive

Retain ‘add’ on Tata Global Beverages, revise TP to Rs 140

TGBL reported a strong quarter operationally aided by GM gains (led by coffee business) and cut in A&SP; however, revenue growth was weak across businesses/geographies.

Kotak retains ‘Add’ rating on Coffee Day Enterprises, revises target price to Rs 250

CDGL (coffee business) reported a modest 2QFY17 with strong performance in the vending business and exports getting offset by weak performance in the core café segment.

Kotak retains ‘Add’ rating on Coffee Day Enterprises, revises target price to Rs 250

Demonetisation impact: Housing demand may slowdown; small biz to be hit too, says Kotak

The current round of demonetisation is likely to disrupt the small business ecosystem in the near term, as the segment operates largely in cash.

Demonetisation impact: Housing demand may slowdown; small biz to be hit too, says Kotak

Kotak puts ‘Add’ rating on Pidilite Industries; target price Rs 725

Pidilite’s 2QFY17 earnings print was a tad below estimates on revenue/EBITDA front; however, volume growth was healthy in high single digit and RM tailwinds continue to aid GM expansion.

Kotak puts ‘Sell’ tag on Shree Cement; target price Rs 13,300

Shree Cement’s volume growth at 9% year-on-year moderated to single digit after having remained in high double digits (20-30%) in the preceding three quarters.

Kotak puts ‘Sell’ tag on Shree Cement; target price Rs 13,300
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