| Buy Grasim for target price of Rs. 1715 (19% gain): Motilal Oswal | |
| Company: | Grasim |
| Brokerage: | Motilal Oswal |
| Date of report: | July 20, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 19% |
| Summary: | We remain positive on GRASIM’s entry into the Paints business, and believe its brand equity as well as its ability to leverage the distribution network of Birla White will help it achieve a reasonable scale in this business |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Grasim, Motilal Oswal |
| Buy Asian Paints for Target Price of Rs 3,707: Powerful execution is driving volume and profits: Centrum | |
| Company: | Asian Paints |
| Brokerage: | Centrum |
| Date of report: | July 26, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 19% |
| Summary: | APNT’s Q1FY23 print was in‐line with our estimates. Consolidated revenue/EBITDA/PAT grew 54.1%/70.3%/85.9% driven by robust volume growth of 37% in domestic decorative segment (4‐year CAGR value and volume 20% each). The management alluded the growth was fueled by (1) faster growth in T1/T2 markets, (2) project/institutional business, (3) premium luxury emulsions, and (4) increase in […] |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Asian Paints, Centrum |
| PCBL Ltd is good proxy to play upon recovery in volumes in the tyre and broader auto space: ICICI Direct | |
| Company: | Phillips Carbon Black |
| Brokerage: | ICICI-Direct |
| Date of report: | July 22, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 33% |
| Summary: | We maintain our positive view and retain BUY rating on the stock. PCBL with organic growth prospects, much heathier B/S and return ratios is a good proxy to play upon recovery in volumes in the tyre and broader auto space |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, Phillips Carbon Black |
| Bullish on the business fundamentals of Trent. Buy for TP of Rs1280: Centrum | |
| Company: | Trent |
| Brokerage: | Centrum |
| Date of report: | July 19, 2022 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 6% |
| Summary: | Trent, one of the most successful retailers in India, has built durable moats by significantly scaling up its retail footprint, establishing itself as a powerful design house and expanding under different retail formats. T |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Centrum, Trent |
| Aether Industries has market leadership in products with INR 37.5bn opportunity size: HDFC Sec | |
| Company: | Aether Industries |
| Brokerage: | HDFC Sec |
| Date of report: | July 8, 2022 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 25% |
| Summary: | Aether Industries Ltd has a technology-oriented business model and it sells innovations in chemistries and technologies. Competencies in eight chemistries and eight technologies has enabled the company to successfully build all three of its business verticals—large-scale manufacturing, contract manufacturing and contract research and manufacturing services (CRAMS)—in less than six years of operation. The company is more than doubling its manufacturing capacity by CY23 end. Augmentation of capacity will not only allow it to fulfil the demand of the existing and potential customers for existing products, but also provide an opportunity to launch new products |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Aether Industries, HDFC Sec |
| ITC is a High Conviction Idea. Buy for target price of Rs 332: Religare | |
| Company: | ITC Ltd |
| Brokerage: | Religare |
| Date of report: | July 1, 2022 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 21.2% |
| Summary: | Consistently rewarding shareholders: ITC is one of the private sector companies which have been consistently rewarding shareholders by paying dividends. In the last 5 years, the company has paid an average of 83% as dividend payout. Going ahead as well, the company announced that it is expected to maintain its dividend payout ratio on similar lines i.e. ~80-85%. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ITC, Religare Capital |
| Buy Century Plyboards For Target Price Of Rs. 747 (46% Gain): ICICI Securities | |
| Company: | Century Ply |
| Brokerage: | ICICI Securities |
| Date of report: | June 28, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 46% |
| Summary: | We continue to like CPBI for its strong growth prospects, high return ratios and healthy balance sheet and believe it will be a major beneficiary of the uptick in housing demand and higher spend on home improvement post the pandemic. Maintain estimates and Mar’23E target price of Rs747, set at unchanged 35x PER FY24E |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Century Ply, ICICI Securities |
| HDFC Bank’s runway is huge; it can potentially add a new HDFC Bank every 5 years. Buy for 47% gain: ICICI Securities | |
| Company: | HDFC Bank, ICICI Securities |
| Brokerage: | ICICI Securities |
| Date of report: | June 23, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 47% |
| Summary: | Growth runway is huge; potentially add HDFC Bank every five years. Proposed merger adds an entirely different dimension to the future. There may not be any need to raise further funds to meet reserve requirements. Plans to nearly double its network in next 3-5 years by opening 1,500 to 2,000 branches every year. 4) Bank will continue to invest in modern technology and talent. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Bank, ICICI Securities |
| IT Sector is showing clear signs of moderation. Maintain underweight stance: ICICI Securities | |
| Company: | IT Sector |
| Brokerage: | ICICI Securities |
| Date of report: | June 24, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Hold |
| Upside Potential: | 100% |
| Summary: | We re-iterate our underweight stance on the Indian IT services and believe deployment in the sector should be very slow and gradual as we believe there would be many unknown risks (normalisation of tech spend, downside risk on FY24 revenue growth etc.) ahead, which might further degrade valuations. We suggest investor to stick with TCS in large cap; Coforge in mid cap. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, IT Sector |
| ICICI Bank is top pick in the banking space: Buy for target price of Rs. 1065 (55% Gain) | |
| Company: | ICICI Bank |
| Brokerage: | Nirmal Bang |
| Date of report: | June 20, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 55% |
| Summary: | We reiterate ICICI Bank as our top pick in the banking space given the visibility of 2% ROA by FY24E on the back of 21% CAGR in net profit over FY22-24E. Given the current increasing interest rate environment, the bank seems one of the best placed from ROA accretion perspective given its higher share of EBLR linkage, enabling faster transmission of rate increases on the asset side. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Bank, Nirmal Bang |