Research Reports published by DOLAT CAPITAL

Page Industries Ltd.    
18 Nov 2020
22451.90
-0.72%
buy
Dolat Capital
On MoM basis, sales improved gradually. The company achieved sales normalization in August and witnessed strong growth in September. Despite GM contraction, better operating efficiency and lower A&P; spends helped EBITDA margins to expand by 310bps. Secondary demand was ahead of primary throughout the quarter, signifying steady increase in sales growth. Going ahead, we believe that the company's focus to increase...
Page Industries Ltd. has an average target of 22543.50 from 6 brokers.
Petronet LNG Ltd.    
18 Nov 2020
261.00
1.03%
buy
Accumulate: Petronet LNG Ltd.
Dolat Capital
The overall volumes were 254 TBTU in Q2FY21. Volume at Dahej was higher, due to addition of nameplate capacity of 2.5 MMTPA and shut down of the Dabhol terminal during the monsoons. Given gradual capacity addition and increase in re-gasification margins, PLL is likely to benefit from the gas demand evolution in India. PLL is also poised to benefit from the uptick in gas demand and the setting up of small scale LNG stations which will consume 8-9 MMTPA of LNG. However, Q1FY21 was a low volume quarter, which have now...
Petronet LNG Ltd. has an average target of 323.45 from 13 brokers.
Indraprastha Gas Ltd.    
18 Nov 2020
454.65
0.11%
buy
Dolat Capital
We increase our FY21 earnings estimate by 9.8% to factor in higher margins and make other changes. IGL remains an enviable business model with high volume growth due to geographical expansion and addition of new buses and taxis. Also, shift to private vehicle ownership post Covid pandemic to drive CNG volumes. IGL remains a play on rising pollution concerns as ban on...
Dolat Capital increased Buy price target of Indraprastha Gas Ltd. to 603.0 on 18 Nov, 2020.
J Kumar Infraprojects Ltd.    
18 Nov 2020
120.30
0.50%
buy
Dolat Capital
Management raised its revenue guidance for FY21 to Rs22bn (vs earlier guidance of Rs20bn), with EBITDA margins in the range of 13-14%. JKIL reported a healthy operational performance with revenues coming in above our and street estimates and margins showing resilience through...
J Kumar Infraproject.. has an average target of 157.00 from 2 brokers.
Petronet LNG Ltd.    
18 Nov 2020
261.00
1.03%
buy
Dolat Capital
Lowest tariffs, superb pipeline network and well-entrenched reach in the domestic LNG markets to help PLNG compete with new terminals. We increase our FY21E estimates by 9% to factor in strong H1 performance, delay in commissioning of the Kochi-Mangalore pipeline and make other...
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Petronet LNG Ltd. has an average target of 323.45 from 13 brokers.
buy
Dolat Capital
We cut our FY21E EPS estimates by 50% given the uncertainty in timeline regarding complete resumption of rail services. However, our FY22E/FY23E estimates are broadly intact as 1) resumption of Tejas Express from 17 th Oct and 2) increase in convenience revenue to ~25% of the pre-COVID levels in...
Indian Railway Catering & Tourism Corporation Ltd. is trading above it's 50 day SMA of 1351.3
Sadbhav Engineering Ltd.    
18 Nov 2020
49.65
-0.50%
buy
Dolat Capital
With all approvals in place, stake sale in Ahmedabad Ring Road (Rs3.4bn) expected to conclude and proceeds are likely to be received by Dec'20. Sadbhav Engineering posted a decent set of numbers with revenues in line with our estimates while margins remain healthy at 12.1%, beating our and...
ICICI Securities Limited released a report for Sadbhav Engineering Ltd. on 23 Nov, 2020.
Ashoka Buildcon Ltd.    
18 Nov 2020
71.95
-2.57%
buy
Dolat Capital
Negotiations restarted for SBI Macquarie stake sale with prospective buyers and deal progressing in right direction as per management. ASBL reported decent quarterly performance with execution ramping up (6% YoY growth) across its project sites led by rise in labour availability. Margins...
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Number of FIIs/FPIs holding stock fell by 6 to 85 in Sep 2020 qtr.
ITD Cementation India Ltd.    
18 Nov 2020
53.80
-1.01%
buy
Dolat Capital
OB at ~Rs119.2bn as on 2QFY21 (~5x TTM revenues); further bagged Rs11.4bn project in Oct'20 and is L-1 in orders worth ~Rs5bn. ITD cementation reported operational losses during the quarter despite healthy execution as the company made provisions of expected losses on...
ITD Cementation India Ltd. is trading above all available SMAs
120.85
1.26%
buy
Dolat Capital
Given strong bid pipeline for BOT projects, management guided Rs60-70bn order inflows in FY21E. Order book stands at Rs121.6bn (2.9x TTM revenues) IRB reported decent quarterly performance in line with our estimates led by...
Promoters pledge reduced to 17.48% of holdings in Sep 2020 qtr.