CLSA has maintained its buy call on Dr Reddy's, with a target price of Rs 3,280. It feels biosimilars will drive scale-up in emerging markets.
Upstream investment in partnership with BP sets tone for growth plans for company, Morgan Stanley said, adding upstream & retail expansion potentially raise base case capex estimates by over 5 percent.
It believes the company remains on track to deliver positive free-cash-flow by mid-2018 but sees limited impact of the Reliance-BP partnership on oil marketers.
With maintaining neutral call on the stock, Credit Suisse said the company restart of exploration & production capex, which is in-line with expectation. It expects underperformance by oil marketing companies to reverse.
Reliance Industries and BP on Thursday announced plans to jointly make a fresh investment of USD 6 billion (approximately Rs 40,000 crore) over 3-5 years to develop three gas projects in KG-D6 block of Krishna Godavari basin.
The two companies would also jointly explore opportunities in the entire energy value chain including fuel retailing and renewables with support from the vast technology and telecom infrastructure that the Mukesh Ambani group has set up.
Disclosure: Reliance Industries owns Network 18 and Moneycontrol.com.
Citi said Warburg Investment in Tata Technologies would enable parent (Tata Motors) to fund half capex requirement in FY18.
Warburg transaction valued Tata Technologies at Rs 540 crore, higher than SOTP (sum-of-the-part) calculations, it added.
CLSA said the company expects continued progress on regulatory compliance in FY18. According to research house, the company can file & launch complex drugs in US that can drive operating leverage.
It has maintained its buy call on the stock, with a target price of Rs 3,280. It feels biosimilars will drive scale-up in emerging markets.
Credit Suisse feels organised jewellery sector will benefit from GST and estimated over 100 bps of cost savings for organised players.Over 100 bps cost savings, if retained, may result in over 5-10 percent addition to earnings, the brokerage house said, adding companies like Titan Company may choose to use this to further improve their segments.