Moneycontrol News
Brokerage: CLSA
The global research firm believes that transaction costs seem to be prohibitive between ACC and Ambuja. The merger could not happen unless there is a regulatory change. Having said that, ultimate goal for the two is to still merge, as per the management it said. CLSA has a buy call on Ambuja with a target of Rs 325, while the rating is same in case of ACC a well. The target, in this case, is Rs 2,150.
Brokerage: Credit Suisse
Credit Suisse said that the full merger proposal replaced by material swap agreements. Overall, it remains cautious on the cement sector.
Brokerage: Deutsche Bank
The global investment bank said that issues & costs w.r.t transfer of limestone mines a key constraint in merger. Further, the interim arrangement between the companies is likely to be on logistics. It prefers ACC to Ambuja on valuations.
Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 1,640
Deutsche Bank said that 9 big metro & road projects may support double-digit growth. Further, FY19 expected pipeline could be 20% higher than FY18. It also said that the company is trading at a discount to BSE CG index against a premium historically.
Brokerage: Credit Suisse | Rating: Upgrade to Outperform | Target: Rs 190
The brokerage house said that significant underperformance and several catalysts prompt upgrade. Further, the company can meet its FY18/19 installation and commissioning targets. It also said that valuations are attractive at current levels.
Brokerage: Motilal | Rating: Buy | Target: Rs 1,111
The brokerage house said that strong core performance will continue. Further, it expects USD 11.50/bbl Of GRM In FY19-20. It also expects free cash flow generation of Rs 67,800 crore during FY18-20 on a consolidated basis.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 375
The brokerage said that it is well placed to seize abundant opportunities in the South. It remains upbeat on medium term business prospects.
Graphite Electrode
Brokerage: Jefferies
Jefferies observed that prices of GE are strong and upwards of USD 10,000 per tonne. It estimated 80% utilisation for both Graphite India & HEG For FY19-20. It also observed that steelmakers are trying to reduce GE consumption. Overall, it is positive on Graphite electrode sector.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
