Monthly archives for November, 2022
| HAL has strong growth visibility on healthy orders flow. Buy for target price of Rs 3300 (28% upside): ICICI Direct | |
| Company: | Hindustan Aeronautics |
| Brokerage: | ICICI-Direct |
| Date of report: | November 16, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 28% |
| Summary: | We expect HAL to deliver revenue and EBITDA CAGR of 10.3% and 14.7%, respectively, over FY22-25E. PAT is likely to grow at 14.2% CAGR (FY21-25E). Increase in profitability with strong asset turnover is expected to result in healthy return ratios over FY23-25E |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Hindustan Aeronautics, ICICI-Direct |
| Lux Industries Ltd is well-poised for growth on the back of increasing share of premium products. Buy for target price of Rs 1802: SMIFS | |
| Company: | Lux Industries |
| Brokerage: | SMIFS |
| Date of report: | November 15, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 6% |
| Summary: | Lux Industries Ltd. Brands like Lux Cozi, Lyra & ONN are doing well Lux Industries Ltd. (LUX), reported weak performance in Q2FY23 in a challenging business environment of volatile raw material prices. Revenues in Q2FY23 increased by ~1.4% YoY, however volumes declined by ~8% YoY (volumes in H1FY23 grew by ~3% YoY). Growth in volumes […] |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | lux industries, SMIFS |
| Dollar Industries’ growth pillars are in place driven by project Lakshya. Buy for target price of Rs 708 (56% Gain): SMIFS | |
| Company: | Dollar Industries |
| Brokerage: | SMIFS |
| Date of report: | November 13, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 56% |
| Summary: | DIL’s strong brand recall coupled with deeper penetration and consumers shifting towards affordable branded quality products are strong macro tailwinds for the company. Currently the innerwear industry is witnessing a structural shift from unorganised to the organised sector. We expect DIL to benefit from this trend. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Dollar Industries Ltd, SMIFS |
| Buy Piramal Pharma for Target Price of Rs 200 (42% Upside): ICICI Securities | |
| Company: | Piramal Pharma |
| Brokerage: | ICICI Securities |
| Date of report: | November 14, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 42% |
| Summary: | We remain positive on Piramal Pharma considering the growing requirement for development services, especially with complex regulatory processes for newer drugs, high entry barriers, limited competition for the complex hospital generics (provides sustainable growth over the longer term) and the rising contribution from the fast growing consumer segment. We initiate coverage post demerger with a BUY rating and an SoTP-based target price of Rs200/share |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, Piramal Pharma |
| JB Pharma Investors Presentation Q2FY23 | |
| Company: | JB Pharma |
| Brokerage: | |
| Date of report: | November 11, 2022 |
| Type of Report: | Investors' Presentation |
| Recommendation: | Buy |
| Upside Potential: | 100% |
| Summary: | JB Chemicals & Pharmaceuticals Ltd (JB Pharma), one of the fastest growing pharmaceutical companies in India, announced its financial results for the second quarter ended 30th September, 2022. For the second quarter ended 30th September 2022, the Company recorded revenue of INR 809 crores as compared to INR 593 crores, registering growth of 36%. Operating EBITDA* (Earnings Before Interest Depreciation and Taxes) increased by 44% to INR 202 crores as compared to INR 140 crores. Profit after Tax stood at INR 111 crores as compared to INR 98 crores registering growth of 13% |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | JB Pharma |
| Buy HG Infra for target price of Rs 1013. Execution pick-up will drive further rerating: HDFC Sec | |
| Company: | HG Infra |
| Brokerage: | HDFC Sec |
| Date of report: | November 11, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 87% |
| Summary: | The company plans to monetise four HAM projects at a ~40% premium to book value of INR 3.5bn invested equity by Mar’23. Given robust order inflow and strong execution, we maintain BUY, with an increased TP of INR 1,013 (14x Sep-24E EPS) to factor in a higher level of execution and better EBITDA margin |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Sec, HG Infra |
| State Bank of India is firing on all cylinders. Buy for Target Price of Rs 805: ICICI Securities | |
| Company: | SBI |
| Brokerage: | ICICI Securities |
| Date of report: | November 6, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 32% |
| Summary: | We expect NIM trajectory to sustain with repricing of lending book offsetting any deposit cost rise. Credit growth of 18% / 16%, stable NIMs, operating profit growth of 22% / 19% and credit cost of 0.8% / 0.9% will drive RoE to 18%/ 17% by FY23E/FY24E, respectively. This will help SBI command 1.7x FY24E core banking business book (earlier 1.5x Sep’23E). We revise our SoTPbased target price to Rs 805 (earlier: Rs 673) |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, SBI |
| Buy Suprajit Engineering for Target Price of Rs 433 (32.8% gain): SMIFS | |
| Company: | Suprajit Engineering |
| Brokerage: | SMIFS |
| Date of report: | November 2, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 32.8% |
| Summary: | The company is putting good efforts to de-risk and grow beyond cables, this would provide additional growth opportunities. The company is moving up the value chain, rediscovering itself for a profitable growth ahead. It is capable to invest in complex & future-ready products. Maintain BUY rating! |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | SMIFS, Suprajit Engineering |
| TCI Express is well positioned to capitalize on the growing opportunities in the domestic logistics space: SMIFS | |
| Company: | TCI Express |
| Brokerage: | SMIFS |
| Date of report: | November 1, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 14.5% |
| Summary: | TCI Express is well positioned to capitalize on the growing opportunities in the domestic logistics space. The company to further strengthen its efficiencies and capabilities through automation, setting up new sorting centers, adding new branches and launch of new service. We have valued the stock at 40x Sep’24 EPS of Rs 54.2 (rollover from Mar ’24) to arrive at a target price of Rs 2,168, offering retun potential of ~14.5% and maintain an “Accumulate” rating on the stock |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | SMIFS, TCI Express |
| Bharat Electronics Ltd has steady performance; maintain “Tactical BUY” for Target price: INR 130, Upside 23%: Edelweiss | |
| Company: | Bharat Electronics |
| Brokerage: | Edelweiss |
| Date of report: | October 31, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 23% |
| Summary: | We believe BEL will regain and sustain double digit revenue growth in FY23-24, based on strong order book position, strong project line-ups, and easing of supply chains. Order book stands at INR 52,795 Cr and after adjusting for Triton Electric vehicle contract of INR 8,060 Cr, order book would be INR 60,855 cr. With strong order book in hand and parallel execution capability for multiple platforms, BEL has a strong P/L growth visibility. Further, it is emerging as a key beneficiary of increase in defence capital expenditure. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Bharat Electronics, Edelweiss |