Brokerage: Edelweiss Sec | Rating: Initiate coverage with buy | Target: Rs 154
The brokerage house expects operating profit and net profit to grow at CAGR of 19 and 36 percent, respectively, over FY17-19. It also said that domestic transmission, debt recast and additional leveraging will drive economy and synergy benefits.
Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 625
The global financial services firm observed that Q2 demand could be subdued due to advancement of purchase in Q1 due to GST. Further, it said that sustaining high proportion of exchanges is creating a tailwind. In fact, it expects the stock to take a breather for the short term. Jubilant Food & Titan are the top picks in the consumer discretionary space, it added.
Brokerage: Nomura | Rating: Neutral | Target: Lowered to Rs 260
Nomura observed that the earnings risk is quantified, while coal price revision is imperative. Further, no revision in non-coking coal prices is key downside risk to the stock. It also cut FY18-19 EPS by 16%/10%. Meanwhile, FY18-19 Normalised EPS is At 2-3% below mean consensus.
Brokerage: UBS | Rating: Upgrade to Buy | Target: Raised to Rs 4,750
The research firm said that double-digit volume growth over FY17-19 to drive a re-rating. It raised FY18 2-wheeler industry sales growth forecast from 10% to 12%. At the target, stock could trade at 23 times FY19, in line with average for domestic auto OEMs.
Brokerage: IIFL Sec | Rating: Buy | Target: Rs 330
IIFL expects the company to record strong 20/18/15% Rev/EBITDA/PAT CAGR over FY17-19. In fact, FY18 margin is likely to decline owing to high core & face veneer prices in international markets.
Brokerage: Goldman Sachs | Rating: Initiate with Buy call | Target: Rs 1586
The global investment bank added the stock to high conviction list. Its 12-month target implies an upside of 53 percent.
Power
Brokerage: CLSA
The brokerage house said that implementation of Saubhagya scheme is a challenge. Further, it believes that India needs on-ground political will and viable business models for discoms. CLSA remains defensive on power and has a buy call on utilities.
Financials
Brokerage: Macquarie
The research firm maintains cautious stance on entire sector banks, NBFCs and insurance. It prefers playing the value unlocking in insurance via holding companies such as ICICI Bank and HDFC. HDFC Bank & YES Bank are its top picks in the sector.
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