Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 194
The brokerage house sees a potential upside of 39 percent in the stock. Further, it also said that Angul expansion will drive strong earnings growth and the firm will benefit from an improvement in the underlying drivers. Additionally, the brokerage house expects EBITDA/steel volume to grow at a CAGR of 32/30 percent over FY17-19.
Brokerage: Citi | Rating: Buy | Target: Rs 200
The financial services firm observed that JSPL continued to achieve cash break-even at low capacity utilisations and expects Angul plant to ramp-up in rest of FY18. It also foresees increase in EBITDA, cash flows and debt servicing capability.
Brokerage: CLSA | Rating: Buy | Target: Rs 110
The brokerage house forecast 18 percent earnings per share (EPS) CAGR over FY17-20. On-time execution, margin improvement and low base will drive EPS going forward, it said. It also said that NCC’s business environment will improve with Telangana and Andhra Pradesh. Asset-sale and entry into the MDO business are likely triggers for the stock, it added.
Brokerage: CLSA | Rating: Buy | Target: Rs 222
CLSA said that Jagran is a play on Uttar Pradesh’s economic resurgence under the BJP and sees growth to pick up, led by festive season and low base of H2FY17. Further, it expects earnings to grow at 14 percent CAGR over FY17-19. It also anticipates the company to scale up radio business and other print publications.
Brokerage: Credit Suisse | Rating: Neutral | Target: Rs 2,590
The research firm said that the Bajaj-Triumph deal is an idea to replicate the success that Bajaj has had with KTM. It believes that Bajaj has a good positioning on sports and street bikes and it could take 2-3 years of product development. It sees first bikes coming only in 2020. This is a positive for Bajaj Auto, it added and sees competitive intensity to increase for Eicher.
Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 500
The global research firm observed that revenue growth was driven by strong same store sales growth (SSSG) trends and the SSSG of Big Bazaar was at 16 percent. It expects SSSG to be around 10-15% for FY18-20 for Big Bazaar. Further, the margins could expand by 170 bps over FY17-20 and margins could be driven by product mix improvement and private label brands and scale benefits. Successful expansion of the small format store could drive further, it added.
Brokerage: Kotak Sec | Rating: Add | Target: Raised to Rs 500
The brokerage house raised earnings estimates by 2% for FY18-20 to reflect better expense management. Further, it expects the company to deliver 15 percent loan book and 14 percent earnings CAGR for FY18-20.
2-wheelers
Brokerage: Credit Suisse
Credit Suisse sees competitive intensity for Royal Enfield to Increase Going Forward.
Stocks views:
Eicher Motors | Rating: Underperform | Target: Rs 21,800
Hero Moto | Rating: Neutral | Target: Rs 2,914
TVS Motor | Rating: Underperform | Target: Rs 320
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