Jubilant Food likely to rally to Rs 2,350, NIIT Technologies may test Rs 700:

 If you see since March, it has been trading between Rs 40 and Rs 50. I think with IT coming back, the plethora of choices you have – you can do much better than Zee Learn. So I would move on.

One can use a break even stop loss in UPL. I think it has completed its correction. Around Rs 802 or thereabouts is the 200-day moving average (DMA), I think once it starts and you get a bit of agri-Budget etc, you could easily see levels of Rs 900 coming back. So this is a good point to enter a stock after it has been through a large correction.

The only problem in RCF is that in the past Rs 125-130 has acted as some kind of resistance and being public sector undertaking (PSU) etc, it tends to remain rangebound but fertiliser stocks are flying. Look at GSFC, Chambal Fertiliser, Deepak Fertiliser, so maybe one can move into one of those private sector. In Coromandel International we saw it at Rs 170-180, today that is at Rs 560, so those are the kind of stocks you have to get in.

RCF has had its run. Now Rs 15-20 higher, it will start getting into resistance. These stocks have limited kind of scope, so try to get into a private fertiliser stocks.

Jubilant Food is now breaking into multi-year highs. The previous high was about Rs 1,960. So now above Rs 1,960, you open up a Rs 1,200 point upside. That may not happen immediately but definitely new highs means that everybody who has ever bought Jubilant is now profitable. So again the same story repeats that the supply dries up. So I would see a very quick rally to Rs 2,300-2,350.

NIIT Technologies is a different case. The entire sector, entire space is looking positive and this is the first quarter of good results. My sense is NIIT Tech could also move up to Rs 650-700. So midcap IT, I think the good time is probably just beginning.

MORE WILL UPDATE SOON!!

Brokerages turn Santa!--10 stocks where they initiated coverage could give up to 23% return

Indian market is going through a big bull run and the party is happening in small and midcaps which looks slightly overpriced but analysts’ think that the party is not over yet in the broader market and the momentum could well continue in the year 2018.

 

It is time for a party this Christmas! Santa Claus fulfilled wishes of equity investors as benchmark indices rallied over 30 percent from last Christmas.

The S&P BSE Sensex rallied from 25,807 on 26 December 2016 to 33,940 recorded on 22nd December 2017. In the case of Nifty, the index rallied about 2,500 points in the last one year.

Indian market is going through a big bull run and the party is happening in small and midcaps which looks slightly overpriced but analysts’ think that the party is not over yet in the broader market and the momentum could well continue in the year 2018.

We saw a remarkable rally from 8000-10500 from Christmas to Christmas is a big reason for a grand party to investors. The global equity market is going through a bull run but we also did well despite some bottlenecks on the domestic front.

Domestic liquidity is a key driver of Indian equity market Bull Run especially the Midcap and Smallcap space which witnessed eye-popping returns to investors,” he said.

The benchmark indices might give another 10-15 percent return in the year 2018 but there will be plenty of action in quality individual stocks, suggest experts.

The focus of the investors has turned towards budget as the upcoming union budget will be the biggest trigger for the stock markets. The reforms which were initiated this and the last year be it Demonetization or GST should play out over 2018 and 2019.

“Market participants would focus on the government’s plan to spend and kick-start the economy through further investment in the infrastructure and job creation industries,” D.K. Aggarwal, Chairman and Managing Director, SMC Investments, and Advisors told Moneycontrol.

“It is recommended to investors to invest in quality stocks on every decline after doing proper homework. By quality stocks, we mean stocks that have greater clarity on their earnings trajectory and have strong fundamentals such as good management, return ratios, etc.,” he said.

Here is a list of 10 stocks which global brokerages initiated coverage for the first time. The minimum holding period is 12 months in which these stocks could give up to 23% return:

Credit Suisse: Hindustan Zinc | Rating: Neutral | Target: Rs 325| Return 12%

Hindustan Zinc is an integrated mining and resources producer of zinc, lead, silver, and cadmium. It is a subsidiary of Vedanta Resources and is the world's second-largest zinc producer.

Credit Suisse has initiated a neutral rating on Hindustan Zinc with a target price of Rs 325 expecting the company to expand the volume to 1.2 mt mined metal production by FY20. It also expects cost moderation as it shifts to 100 percent underground mining.

EBITDA/tonne is likely to stay healthy with decent free cash flow generation, it added. The research firm is of the view that silver prices have and output is expected to grow while zinc prices have peaked. Despite planned volume growth, Hindustan Zinc is fully valued, it said.

In a bull case scenario, Credit Suisse has a target of Rs 380 assuming higher commodity prices.

Credit Suisse: S Chand and Company | Rating: Outperform | Target Rs 625| Return 21%

1. Chand Group is one of the largest publishing and education services enterprise, founded in 1939, based in New Delhi. The publishing house prints books for primary as well as higher education including engineering, and commerce.  The company operates from 110 offices and branches.

Credit Suisse has initiated an outperform rating on S Chand and Company Limited with a price target of Rs 625. It expects a compounded growth rate of 14 percent, 13 percent and 25 percent of revenue, operating income and earnings per share by March 2020.

The house believes that lower borrowing cost and the tax rate is likely to accelerate earnings per share. adding that the management is looking at two acquisitions in Western India state board and Cambridge international board.

Axis Capital: JSW Energy | Rating Buy | Target: Rs 100| Return 12%

JSW Energy is a division of JSW Group which caters to various areas of power including generation, transmission, and trading. The company’s presence extends across India and also includes stakes in a coal mining Company in South Africa.

Research and broking firm Axis Capital has initiated a buy rating on JSW Energy with a target price of Rs 100. It believes that strategically located assets result in high plant load factor adding that declining share of merchant volumes and a higher share of PPA is likely to increase earnings visibility which will substitute 50 percent of imported coal with cheaper domestic coal.

The under-leveraged balance sheet is likely to aid inorganic growth while balance sheet has the capacity to acquire up to 3GW capacity, it added.

Axis Capital: Mahindra Logistics | Rating: Buy | Target: Rs 525| Return 17%

Mahindra Logistics operates in two distinct business segments, supply chain management, and corporate people transport solutions. It provides customized integrated third-party supply chain and people transport solutions to companies across multiple industries.

Axis Capital has initiated a buy on Mahindra Logistics with a target price of Rs 525. The house is of the view that focus on non-automotive and reducing dependence on M&M group is likely to aid margin wherein M&M group's contribution may reduce to 38 percent by FY20 as against 54 percent in FY17.

The firm believes that better client mining and new client additions are likely to drive growth while gross margin may remain largely stable across SCM and PTS business. GST is likely to drive clients’ focus on improving supply chain efficiency, it said.

Axis Capital expects 28 percent earnings CAGR and firm return ratios are given limited capex and also expects premium valuations to sustain on MLL’s strong positioning.

Motilal Oswal: Oberoi Realty | Rating Buy | Target: Rs 580| Return 23%

Oberoi Realty is a real estate developer based in Mumbai. The company has developed over 39 projects at locations across Mumbai. Its main interest is in residential, office space, retail, hospitality and social infrastructure properties in Mumbai.

Research and broking firm Motilal Oswal has initiated a buy on Oberoi Realty with a price target of Rs 580. It believes that sharp focus and trusted brand are the key strengths adding that the company is likely to be a key beneficiary of likely consolidation post RERA.

Portfolio expansion may provide consistent cash flows. A recent foray into affordable housing should help it enjoy tax incentives adding that low net debt provides ample room to acquire large land parcels in the Mumbai.

The house expects revenue and net profit to grow at a compounded rate of 47 percent and 56 percent respectively by March 2020 while high operating margins is likely to be backed by premium pricing. In a bull case scenario, Motilal Oswal has a price target of Rs 638 per share.

Ventura Securities: Everest Industries | Rating: Buy | Target: Rs 712| Return 22%

Everest Industries specializes in providing building products and building solutions for commercial industrial and residential sectors including roofing, ceilings, walls, and flooring.

Ventura Securities has initiated a buy on Everest Industries with a price target of Rs 712. It is of the view that government policies are likely to promote housing sector which is a positive sign adding the boards and panels segment may lead to better profitability. New product launches are likely to maintain growth momentum.

The house believes that change in product mix is likely to boost profitability. It expects revenue, operating income, and net profit to grow at a compounded rate of 11 percent, 53 percent and 173 percent by March 2020.

ICICIdirect: Narayana Hrudayalaya | Rating: Buy | Target: Rs 340| Return 14%

Narayana Hrudyalaya is a chain of multi-specialty hospitals in India, with its headquarters in Bengaluru and operates a chain of hospitals, heart centres, and primary care facilities across India. Narayana Health was founded by Devi Shetty and has its flagship hospital in Bangalore.

Research and broking firm ICICIdirect has initiated a buy on Narayana Hrudayalaya with a target of Rs 340. It believes that government drive on affordability favours company’s cost-efficient and affordable model. Improvement in case mix is likely to boost average realisation per operating bed.

The company is well poised to thrive in the domestic healthcare delivery and expects RoCE to improve to 19 percent by FY20 as against 12.5 percent in FY17. It also expects revenue/net profit to grow at a CAGR of 17 percent/34 percent over FY17-20.

Edelweiss Investment: GNA Axles | Rating: Buy | Target: Rs 455| Return 12%

GNA Axles is the supplier and manufacturer of ring gears, rear axle shafts, shafts assemblies gearbox exporter of auto parts like gear, axel and starter drive engine headquartered in Jalandhar, Punjab.

Edelweiss Investment has initiated a buy on GNA Axles with a target of Rs 455 per share. The house is of the view that strong presence in exports and the domestic market provides competitive edge while cost reduction and the new initiative is likely to fuel the rise in topline and bottom line.

Edelweiss expects strong growth momentum in North America heavy truck market which may drive exports while on the other hand, healthy domestic demand scenario in M&HCV and OH is likely to drive domestic business. In a bull case scenario, Motilal Oswal has a target of Rs 505 on GNA Axles.

IIFL: Mphasis | Rating: Buy | Target: Rs 810| Return 10%

Mphasis is an IT services company based in Bangalore, India. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services.

It serves financial services, telecom, logistics, and technology industries. Research and broking firm IIFL has initiated a buy on Mphasis with a target of Rs 810.

The firm believes that the company is in middle of a turnaround in its growth and profitability profile. It is of the view that strong deal wins and optimization of cost pyramid is likely to drive revenue.

IIFL expects revenue/EPS to grow at CAGR of 10 percent/12 percent over FY17-20 with 13 percent dollar revenue CAGR. The firm also expects Mphasis to continue returning cash to shareholders on a consistent basis.

Credit Suisse: Vedanta | Rating: Outperform | Target: Rs 345| Return 9%

Vedanta is a natural resources company with operations in zinc, lead, silver, copper, iron ore, aluminium, power and oil & gas. It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia[2] and oil and gas operations in three countries.

Global research firm Credit Suisse has initiated an outperform rating on Vedanta with a target of Rs 345. It believes that aluminium business is the most important for incremental profits adding that global supply-demand and surging raw material prices bodes well for aluminium.

MORE WILL UPDATE SOON!!

Buy, Sell, Hold: 7 stocks on analysts radar today??

CLSA has maintained its buy rating on Arvind with increased target price at Rs 538 (from Rs 440 per share) but reduced FY18/19 EPS estimates by 16/2 percent.

 

Bharti Airtel

Brokerage - HSBC | Rating - Buy | Target Rs 575

While maintaining buy call on Bharti Airtel with a target price of Rs 575 per share, HSBC said it believes company's operations in Africa have further upside.

The company may be keen to unlock value in its African operations sooner rather than later, according to the research house.

HSBC estimates FY17-20 revenue CAGR at 1.4 percent and EBITDA CAGR at 11.1 percent for Africa operations.

Catalysts for Africa are improvement in revenue growth, particularly from data, it said. "The downside risk to our outlook for African operations is lower capex spend."

India remains the priority for Bharti Airtel. Company may lower Africa capex if India recovery is delayed beyond FY19, HSBC feels.

Tech Mahindra

Brokerage - Citi | Rating - Sell

Citi has maintained sell call on Tech Mahindra, saying overall margin is expected to improve over the next few quarters. At 15x FY19, the stock is not cheap, the research house said.

Tech Mahindra will continue to evaluate M&A for capability addition, it feels.

Meaningful surprises are difficult to achieve given the industry headwinds, it said.

Arvind

Brokerage - CLSA | Rating - Buy | Target Rs 538

CLSA has maintained its buy rating on Arvind with increased target price at Rs 538 (from Rs 440 per share) but reduced FY18/19 EPS estimates by 16/2 percent.

Cash flow from brands business is critical to a rerating, it said, adding value unlocking depends on Brand & Retail (B&R) business being able to fund its own growth.

CLSA sees business getting stronger both in textiles & B&R. It values the B&R business at A 22x EV/EBITDA.

SBI

Brokerage - Goldman Sachs | Rating - Buy | Target Rs 396

Goldman Sachs has upgraded SBI to buy from neutral with target price at Rs 396 per share as it feels the bank is best positioned to benefit from improving asset quality cycle.

The research house expects bank’s return on assets to improve to 0.95 percent by FY20 from 0.22 percent in first half of FY18.

It is a prime candidate to get growth capital under government's SOE recapitalisation plan, Goldman said.

Maruti Suzuki

Brokerage - Morgan Stanley | Rating - Buy | Target Rs 10,563

Morgan Stanley has overweight call on Maruti Suzuki with increased target price at Rs 10,563 (from Rs 9,102 per share).

"End-market opportunity & superior return on capital employed justifies the valuation," the research house said while maintaining forecast of 22 percent FY18-20 EPS CAGR.

Jet Airways

Brokerage - Edelweiss | Rating - Buy | Target Rs 822

Edelweiss has upgraded Jet Airways to buy from hold and raised target price to Rs 822 from Rs 548 per share as measures initiated by new CEO would turnaround company's stressed financials.

The company is focussing on sustaining growth via cost rationalisation. The strategy is to focus on cost efficiencies & debt reduction, it said.

Edelweiss raised FY18 EBITDAR margin to 16.8 percent from 15.5 percent.

Motherson Sumi Systems

Brokerage - HSBC | Rating - Buy | Target Rs 425

HSBC has maintained buy call on Motherson Sumi with increased target price at Rs 425 from Rs 376 per share as it expects innovation & cross-selling to support business growth.

It is well placed to benefit from increasing role of auto component suppliers, it feels.

With the recent fundraising, Motherson is ready for multiple acquisitions, HSBC said.

The research house said slowdown in global car market and rupee appreciation are downside risks its rating.

MORE WILL UPDATE SOON!!

These top 4 stocks could give up to 61% return in 9-12 months

The Sensex ended at 33,250.30, rising 1.27 percent over previous week while the Nifty ended with a gain of 1.42 percent at 10,265.65 in the week gone by.

         

he benchmark indices bounced back in last two trading sessions to close the week with a gain of over 1 percent on hopes that BJP may win Gujarat elections.

The Sensex ended at 33,250.30, rising 1.27 percent over previous week while the Nifty ended with a gain of 1.42 percent at 10,265.65 in the week gone by.

Havells India | Rating: Upgrade to Buy | Target: 590 | Upside: 16 percent

The recent acquisition of Lloyd gives the company a strong foothold in the fast growing durables segment. The company's aim is to double revenue in the next three years through new product launches, expansion of existing product portfolio and increased channel penetration

The firm expects the sales growth of the company to accelerate, led by lighting, consumer durables, and Lloyd Electric and market share gains in cables/wires and switches.

The company is likely to report 21 percent EPS CAGR over FY17-20, with EBITDA margin expanding 40bp to 13.8 percent.

Granules India | Rating: Buy | Target: 200 | Upside: 61 percent

GRAN-Omnichem is a joint venture between the company and Ajinomoto’s subsidiary, Omnichem. But sales growth from the JV business will be impacted in the near term due to deferral of sales by a key client, though the company maintains its medium-term revenue growth guidance (of 20-25% CAGR) from Omnichem JV.

The company is planning to file approximately 25 ANDAs in the US till FY19. Of these, 12-15 complex ANDAs will be filed from its US-based Virginia facility and rest from India facility located in Gagilapur.

We firm believes that the stock has the potential to deliver more than 50 percent return in 12-18 months on the back of multiple re-rating and strong PAT CAGR of 27 percent till FY20E.

IOC | Rating: Buy | Target: 541 | Upside: 39 percent

Paradip complex, with its upcoming projects, would be a key earnings driver for the company, going forward.

The refinery is expected to produce 27% petrol, in addition to 42% diesel, 5% ATF and 8.6% petcoke.

Polypropylene with 2x340ktpa capacity is expected to be commissioned by December 2018 at a cost of Rs 35 billion. This would be even more profitable than the conventional projects due to the Indmax technology.

Among the OMCs, IOC has the most diversified EBITDA profile, with one-third coming from refining and marketing each, and the rest divided between petrochem and pipeline.

Colgate Palmolive | Rating: Buy | Target: 1355 | Upside: 30 percent

With the launch of Colgate Swarna Ved Shakti, along with a bevy of products likely to be rolled out over the next few years under this brand, the company can emerge as a strong play in the herbal/natural/ayurvedic sub-segment.

Colgate is an attractive play on a rural recovery and as the government schemes are falling in place and monsoon has been near normal, which is likely to lead to a sharp revival in earnings growth off a low base FY19 onward.

With the General Elections likely to be held in 2019, there is a strong possibility of the government coming up with more schemes to support rural demand in 2018.

MORE WILL UPDATE SOON!!

Do you know? These 7 stocks gave double digit return in 4 out of 5 years in December

Stocks on the lucky 7 list include names like Alankit, Chowgule Steam, HBL Power System, 3i Infotech, Bartronics India, Vikas Ecotech, and Mahamaya Steel.

 

The S&P BSE Sensex which hit record highs earlier in the year 2017 lost some momentum towards the closing of the year weighed down by both local as well as global factors. But, there are plenty of stocks which have hit double-digit returns in at least 4 out of 5 years.

If not the whole market Santa Claus rally is seen in 7 stocks on the BSE which have given double-digit returns of up to 54 percent in the last 4 out of 5 years, according to data from Capitaline showed.

Most of the stocks belong to the small and midcap segment but a consistency of returns on year-on-year period makes them stand out. The year 2016 was a washout year as benchmark indices closed on a flat note; hence not many stocks gave stellar returns.

Stocks on the lucky 7 list include names like Alankit, Chowgule Steam, HBL Power Systems, 3i Infotech, Bartronics India, Vikas Ecotech, and Mahamaya Steel.

Topping the charts is Alankit which has given double-digit returns in all the five years along with Chowgule Steamships Ltd. Alankit Ltd is the flagship company of Alankit Group which is a leading e-Governance service provider in India.

Major services offered by the company is TIN Facilitation Center and PAN Center, authorized person for National Insurance, UID enrolment (Aadhaar), Aadhaar Seeding, Printing of PVC Aadhaar card etc. among others.

Other companies on the list include 3i Infotech which is a global information technology company committed to empowering business transformation. The company also provides solutions for other verticals such as Government, Manufacturing, Retail, Distribution, Telecom, and Healthcare.

HBL Power Systems Ltd which is in business since 1977 gave up to 31 percent return in the month of December alone in 4 out of 5 years. Their expertise are in batteries generated opportunities.

The first products selected and successfully developed were Aircraft batteries - eventually leading to HBL offering the world’s widest range of specialized batteries.

Bartronics is engaged is engaged in the business of Bar Coding and Smart Card technology, the company made a foray into the field of Automatic Identification & Data Capture (AIDC) solutions.

Vikas Ecotech which has given up to 40 percent return in the last 4 out of 5 years is an emerging player in the global arena of the high end specialty chemicals players.

Mahamaya Steel deals with the manufacturing steel structures in the shape of Angles, Beams, Joist, Channels, Rounds, Flats, Railway sleepers etc. It has high capacity structural rolling mills with full-fledged supportive SMS.

Mahamaya is one of the few in the country who manufactures 600 MM joist and 250 MM angles, and the turnover of the group is close to Rs1000 crore. The stock gave up to 30 percent return in last 4 out of 5 years in the month of December.

December challenges:

Unlike the rest of 2017, the month of December might be tough on bulls. The S&P BSE Sensex which climbed Mount 33K is now trading around 32,700 levels.

Benchmark indices climbed to record highs in the month of November but since then the trend shifted downwards.

It looks like market participants prefer to be on the sidelines ahead of key events such as US Federal Reserve policy meet and back home, the outcome of state election results. However, analysts advise investors to buy stocks on dips whenever possible as the structural bull market is still intact.

Nilesh Shah, MD, and CEO of Envision Capital sees a shallow correction for the Street. “It looks like there could be 4-5 percent correction ahead. That is how markets have behaved and it is unlikely to move in some other way. This could be year-end profit booking,” Shah told CNBC-TV18 in an interview.

Will political outcomes from state and general elections ahead make any impact on the market ahead? Shah said he won’t be surprised if political debate takes over the market between 2018 and 2019.

Frontline indices are going through a corrective phase, with the Nifty shedding around 300-350 odd points from record highs.

While some investors could raise concerns over it, but market veterans such as Madhusudan Kela see this time as a positive thing.

“There are plenty opportunities which are there in the markets, both in midcaps and large-caps. Corrections like these give investors to capture the opportunity,”Kela told CNBC-TV18 in an interview.

Further, he said that such a correction was long overdue as there has not been one since Nifty’s levels of around 7,800.

Speaking on the impact of upcoming Gujarat elections, Kela believes that if the verdict goes, either way, a meaningful correction is unlikely.

MORE WILL UPDATE SOON!!

Index trend and stocks in action December 06, 2017:"STOCKS TO BUY"

During the previous trading session, after opening gap and testing its 100-SMA, Nifty rebounded to close flat with negative bias. The price action has resulted in the formation of doji candle which indicates indecision. Going forward, a follow through correction below the 100-SMA, which is placed around 10,070, may see the Nifty extending its correction towards levels of 10,000, while on the upside the level of 10,180 followed by 10,210 is a stiff barrier for the index. Today being a crucial event, i.e. RBI bimonthly policy release, the outcome of policy could the dictate the near term trend for the Nifty. 

Essel Propack: The Company is issuing Commercial Papers (CP) for Rs. 30 crore on private placement basis.  

Reliance Communication: Fitch Ratings (Fitch) has withdrawn “C” rating of Company’s Long-Term Foreign and Local Currency Issuer Default Ratings and Bonds listed in Singapore Stock Exchange due to commercial reasons.    

Byke Hospitality: Company announced acquisition of the 3 hotels, The Byke Nature Villas in Shimla, The Byke Puja Samudra in Kovalam and The Byke Brightlands Resorts in Matheran.  

Infosys: Inspired by the success of past funding initiatives to train thousands of public school teachers, Infosys Foundation USA will host the Pathfinders Summer Institute 2018, a national convening for K-12 teacher education in Computer Science and Making.  

Hatsun Agro Product: Paid Rs 2.07 crore to the income tax authorities as per the settlement commission order.  

Shilpa Medicare: Company has received Form 483 observations from the USFDA for it Telangana facility, a total of 10 observations was cited during the close up meeting.  

Punjab Chemicals: The board meeting is to be held on December 8, 2017 to consider fund raising.  

MORE WILL UPDATE SOON!!

Buy, Sell, Hold: 7 stocks and 1 sector are being tracked by investors

SIS, HPCL and Heritage Foods, among others, being tracked by analysts on Tuesday.

SIS

Brokerage: IIFL | Rating: Initiate Coverage with Buy | Target: Rs 1,300

The brokerage house expects 44 percent EPS CAGR over FY17-20. Further, it sees revenue CAGR of 21% & margin expansion of 160 bps over FY17-20.

HPCL

Brokerage: Citi | Rating: Buy | Target: Rs 564

Citi said that short-term sentiment for the firm could turn bullish. Further, it remains upbeat on Q3 with Singapore GRMs holding well. The company could get a boost from Bhatinda refinery expansion completion.

Bharti Airtel

Brokerage: CLSA | Rating: Buy | Target: Rs 640

CLSA said that strategy change was driving Africa improvements & profits. Further, the company has started registering profits in Africa since Q4, which marks a turnaround. It sees growth In India & Africa driving a 9x jump in consolidated PAT by FY21.

Greenply

Brokerage: IDFC | Rating: Outperform | Target: Rs 390

The brokerage house said that any revival in real estate would aid growth for the company. Further, it expects the company’s earnings to double over FY17-20.

Parag Milk

Brokerage: Edelweiss | Rating: Initiate with buy call | Target: Rs 340

The brokerage house expects EBITDA to jump 2.3x & RoCE to 19% over FY17-20. Further, it sees revenue and profit CAGR of 14 and 49 percent, respectively, over FY17-20. An improving mix will spur earnings and return ratio.

Heritage Foods

Brokerage: Edelweiss | Rating: Initiate Coverage with Buy | Target: Rs 976

Edelweiss said that the stock entails immense potential in the sector. Additionally, it sees sales and EBIT CAGR of 23% & 21% respectively Over FY17-20.

Prabhat Dairy

Brokerage: Edelweiss | Rating: Buy | Target: Rs 211

Edelweiss estimates sales, EBITDA & profit CAGR of 15%, 19% & 39%, respectively over FY17-20. B2C and value-added products will drive growth. The company is also seeing a rapid expansion of distribution network.

Sector:Tyres

Brokerage: Deutsche Bank

The global investment bank said that industry profitability should remain healthy over the next few quarters. Further, truck tyre demand trends continue to improve in Q3 and that should aid OEM sales.

MORE WILL UPDATE SOON!!