SMC Retail Research came out with a report “Cherries in Crisis” on 28th August 2013. It is a pleasure to share with you that out of ten stocks recommended, six stocks have met the targets given in the report for one year perspective. The average return generated in the four months time is 22.35% and on anualised basis it goes up to 67.05%
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GEPL Capital Report Of Best High Dividend Yielding Stocks With Consistent Dividend Track Record
GEPL Capital Report Of Best High Dividend Yielding Stocks With Consistent Dividend Track Record [download id=”47″ format=”1″]
READ MORE »V-Guard Industries: Sharekhan Research Report
At the current market price, V-Guard Industries‘ stock is trading at 8.9x FY2012 earnings estimate. In its brief listing span since February 2008, V-Guard Industries has traded at an average multiple of 8x its one-year forward earnings per share (EPS). However, we feel that V-Guard Industries is poised for a re-rating due to the strong earnings growth trajectory expected in the next four years. Moreover, V-Guard Industries‘ stock is currently trading at a 30-40% discount to the valuations enjoyed by its peers like Bajaj Electricals and Havells India. We initiate coverage on V-Guard Industries with a Buy recommendation and a price target of Rs228 at 12.5x FY2012 EPS (that is a 20% discount to its peers’ current valuations on consensus FY2012 earnings estimate)
READ MORE »VST Tillers: Sushil Finance’s Research Report
Farm mechanization in India is essential to improve productivity and overcome the labor shortage issue. The government’s subsidy encourages farmers to buy farm equipment and drives overall demand for Power Tillers and low HP Tractors amongst others. VST Tillers Tractors, being an established player in farm equipment segment, is very well placed to grow at decent rate for next 2-3 years. Based on its FY11 performance & business growth outlook, we expect VST Tillers Tractors’s Net Revenues to grow by 22.6% & 20.4% to in FY12E & FY13E, respectively. At the CMP of Rs.475, VST Tillers Tractors’s valuation looks very attractive at 7.7x & 6.4x its FY12E & FY13E EPS of Rs.61.7 & Rs.74 respectively. We initiate our coverage on VST Tillers Tractors with a Buy rating & target price of Rs.592 (8x FY13E EPS)
READ MORE »Mcleod Russel: SKP Securities’ Research Report
In FY11, Mcleod Russel’s cost per kg has increased by Rs. 11 per kg to Rs 107 per kg owing to loss in production of 2 mn. kgs of tea due to bad weather. As most of Mcleod Russel’s cost is fix in nature, subsequent recovery of production of own tea in FY12 will reduce the cost per kg for the company. Mcleod Russel‘s stock is currently trading at a PE of 9.15x FY12E and 7.86x FY13E EPS. We recommend BUY rating on the Mcleod Russel stock with a 15 months target price of Rs 329, at 10x FY13E earnings, giving it an upside of 27% from the current levels
READ MORE »BGR Energy: FairWealth Securities’ Research Report
BGR Energy‘s total order backlog as on 31st march 2011, stood at Rs 7971cr, however the fresh order intake during FY11 remained subdued by 22% at Rs 3000cr. Commenting on the muted order intake in FY11, BGR Energy had bid for projects worth Rs. 18000cr, which was not materialized in the year gone. We expect the entire order inflow in FY12 to reach at Rs. 13000cr which includes BoP, BTG and EPC contracts during the current financial year. BGR Energy has already placed its offering for projects worth Rs 18,000cr in FY2011, constituting Rajasthan tender of Rs 6,100cr, NTPC order of Rs 6,000cr, Ennore order of Rs 3,000cr and Rs 3,000cr order in Surat. These orders are expected to be finalized in Q2FY12. Apart from these orders, BGR Energy has identified projects worth Rs 40,000cr which it intends to compete during the current financial year
READ MORE »Dr Reddys Labs: PINC Research Report
While Dr Reddys Labs has one of the exciting product pipelines in US for next two years and could now see its key product approvals flowing from Q2FY12. Dr Reddys Labs is also confident on strong growth in India and Russia segments. Dr Reddys Labs‘s stock has corrected by 4% in last one month and underperformed the BSE HC index by 7% on back of DEPB withdrawal issue and delay in key product approvals. Dr Reddys Labs‘s stock is currently trading at 22.2x FY12 and 18.2x FY13 recurring earnings. We have revised our estimates downwards marginally to factor in delay in key product approvals and increasing R&D spend. We value Dr Reddys Labs on a SOTP basis with a target price of Rs1,567, valuing the base business at Rs 1,501 (20x Sept’12 recurring earnings) and Rs 66/share for P-IV/ limited competition opportunities. We maintain ‘HOLD’ on the stock of Dr Reddys Labs
READ MORE »Dish TV: KR Choksey Research Report
DTH market is growing rapidly. We believe Dish TV being a market leader with a market share of 28.6%, is expected to benefit in garnering high volume growth. We expect growth in subscriber addition on account of higher ad spend by Dish TV. The same along with ARPU improvement derived by increasing HD subscribers, favorable regulatory changes, and lower interest expense will reflect in improvement in overall profitability of Dish TV. At current price Dish TV stock is trading at 17.6x and 11.6x, EV/EBITDA. We retain our HOLD recommendation on the Dish TV stock and our target price to Rs 88 by assigning to 20x EV/EBITDA to FY12E earnings
READ MORE »J&K Bank: Angel Broking Research Report
The stock of Jammu and Kashmir Bank (J&K Bank) is trading at 0.9x FY2012E ABV vis-à-vis its historic range of 0.8-1.4x and median of 1.1x. We maintain our positive view on the stock of Jammu and Kashmir Bank (J&K Bank) considering the bank’s strong deposit mix, dominant regional market share and healthy track record in asset quality. We believe that this provides sufficient margin of safety from the risks of political disturbances in J&K, especially in light of the bank’s steady performance even during past crises. Even taking into account the inherently lower-than-national average growth (in GDP, deposits, credit) in J&K, at just 0.9x FY2012E P/ABV and with sustainable RoEs of at least 17%, the stock is inexpensive. Hence, we maintain a Buy on the stock, with a target price of Rs 987, implying an upside of 33% from current levels
READ MORE »IDFC: Anand Rathi Securities Research Report
IDFC‘s sum-of-parts valuation gives us fair value of Rs 219; we value the lending business of IDFC at Rs 185/share (2.3x FY12e BV) and other businesses and investments of IDFC at Rs 34/share. Risks: substantial slowdown in infrastructure spending and inability to mobilize resources for the AMC business. We maintain our Buy rating on the stock for a target price of Rs 219
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