The broking firm said that Inox was focusing on improved theatrical experience and premiumisation. Further, it observed that its ad sales were driven by brand perception and transparency initiatives. It has now fine tuned its estimates for FY18-19 and is up by 8 percent on effects of new strategic direction.
BHELBrokerage: Macquarie | Rating: Underperform | Target: Rs 72Macquarie said that despite recent Rs 7,300 crore order, the company could fall short of the order intake expectations. The company is a value trap, it said, adding that order pipeline beyond recent L1 remains weak.
Brokerage: Edelweiss | Rating: Buy | Target: Rs 110Edelweiss expects three balance L1s to be awarded by March 2018. It also expects debtors to decline and release cash of Rs 4,700 crore over FY17-20.
Dalmia BharatBrokerage: HSBC | Rating: Buy | Target: Raised to Rs 3,400HSBC said that the firm has been abe to maintain robust profitability despite moderate volume growth. The company now looks well-placed for organic or inorganic expansion for continued momentum. Going forward, it expects earnings to support valuations.
GAILBrokerage: IDFC Sec | Rating: Outperform | Target: Rs 567IDFC Securities said that the firm continues to gain strength with prospects in each business improving. Rising LPG rates, higher demand for gas implies a strong Q3 is on the cards. Gas being included under GST could potentially add 3-4% to firm’s FY19 EPS.
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