Experts see bull run in Exide & Maruti, remain neutral on MindTree & GMR

Experts see bull run in Exide & Maruti, remain neutral on MindTree & GMR
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Experts see bull run in Exide & Maruti, remain neutral on MindTree & GMR
  • 
	Exide

	Brokerage: Bank of America Merrill Lynch

	Rating: Buy

	Target: Rs 172

	Rationale: Exide will hike automotive battery price by 5% from the 18th of October according to its dealers. This price hike could help Exide achieve its target of around 18 percent EBITDA margin. FY14 EPS could rise by 9.3 percent keeping other factors constant. 

    Exide Brokerage: Bank of America Merrill Lynch Rating: Buy Target: Rs 172 Rationale: Exide will hike automotive battery price by 5% from the 18th of October according to its dealers. This price hike could help Exide achieve its target of around 18 percent EBITDA margin. FY14 EPS could rise by 9.3 percent keeping other factors constant. 

  • 
	Maruti

	Brokerage: Bank of America Merrill Lynch

	Rating: Buy

	Target: Rs 1,650

	Rationale: The launch of the improved version of Alto 800 will aid in the revival of the mini segment and enable the company to regain share from competing models. Maruti remains their preferred pick in the auto space.

    Maruti Brokerage: Bank of America Merrill Lynch Rating: Buy Target: Rs 1,650 Rationale: The launch of the improved version of Alto 800 will aid in the revival of the mini segment and enable the company to regain share from competing models. Maruti remains their preferred pick in the auto space.

  • 
	MindTree

	Brokerage: Macquarie

	Rating: Neutral

	Target: Rs 650

	Rationale: The management disclosed in the conference call that fy13 dollar revenues would grow below 11 percent versus a target of between 11-14 percent articulated last month. Muted future demand commentary is a concern.

    MindTree Brokerage: Macquarie Rating: Neutral Target: Rs 650 Rationale: The management disclosed in the conference call that fy13 dollar revenues would grow below 11 percent versus a target of between 11-14 percent articulated last month. Muted future demand commentary is a concern.

  • 
	GMR

	Brokerage: Goldman Sachs

	Rating: Neutral

	Target: Rs 28

	Rationale: GMR will be required to infuse Rs 210 crore, while GVK around Rs 560 crore, in new equity, if the proposal of ADF abolition goes through. Though the additional equity will earn a regulated return for the operators, the immediate infusion of cash will be a real concern and may result in further increase in leverage for both companies.

    GMR Brokerage: Goldman Sachs Rating: Neutral Target: Rs 28 Rationale: GMR will be required to infuse Rs 210 crore, while GVK around Rs 560 crore, in new equity, if the proposal of ADF abolition goes through. Though the additional equity will earn a regulated return for the operators, the immediate infusion of cash will be a real concern and may result in further increase in leverage for both companies.

  • 
	Exide

	Brokerage: Bank of America Merrill Lynch

	Rating: Buy

	Target: Rs 172

	Rationale: Exide will hike automotive battery price by 5% from the 18th of October according to its dealers. This price hike could help Exide achieve its target of around 18 percent EBITDA margin. FY14 EPS could rise by 9.3 percent keeping other factors constant. 
  • 
	Maruti

	Brokerage: Bank of America Merrill Lynch

	Rating: Buy

	Target: Rs 1,650

	Rationale: The launch of the improved version of Alto 800 will aid in the revival of the mini segment and enable the company to regain share from competing models. Maruti remains their preferred pick in the auto space.
  • 
	MindTree

	Brokerage: Macquarie

	Rating: Neutral

	Target: Rs 650

	Rationale: The management disclosed in the conference call that fy13 dollar revenues would grow below 11 percent versus a target of between 11-14 percent articulated last month. Muted future demand commentary is a concern.
  • 
	GMR

	Brokerage: Goldman Sachs

	Rating: Neutral

	Target: Rs 28

	Rationale: GMR will be required to infuse Rs 210 crore, while GVK around Rs 560 crore, in new equity, if the proposal of ADF abolition goes through. Though the additional equity will earn a regulated return for the operators, the immediate infusion of cash will be a real concern and may result in further increase in leverage for both companies.

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