Research Reports published by PRABHUDAS LILLADHAR

Agriculture    
SECTOR | 19 Nov 2020
Prabhudas Lilladhar
GoI's move to provide additional Rs 65000 crs of fertiliser subsidy is positive We maintain reduce rating (TP- Rs 676) on CRIN due to capacity constraints in NPK and likely headwinds on the raw material side starting 4Q...
Prabhudas Lilladhar released a Sector Update report for Agriculture on 19 Nov, 2020.
Wipro Ltd.    
19 Nov 2020
355.50
-0.10%
Prabhudas Lilladhar
bold management initiatives as initial signs of trajectory reversal. Thierry Delaporte (new CEO) along with senior leadership team held a virtual analyst day to highlight Wipro's new strategy. The new CEO has outlined new strategic direction, 1) accelerate growth, 2) strengthen clients and partnerships, 3) lead with business solutions, 4) build quality talent at scale, and 4) simplify the operating model. Management has recognized that speed is the new cost, making strategy more client focused thus enabling agility in...
Wipro Ltd. has gained 46.24% in the last 1 Year
Bharat Electronics Ltd.    
19 Nov 2020
107.70
1.60%
Prabhudas Lilladhar
Management expects revenue growth of 10-15% in FY21E with lumpy execution from IACCS, LRSAM, Akash and Homeland Security projects. Bharat Electronics (BEL) reported a strong quarter where revenue grew by 16% YoY leading to higher profitability. Execution of large value projects such as LRSAM and IACCS, Ventilator (Rs8-9bn) along with smart city & HLS orders led to higher topline. Order inflows declined 78% YoY at Rs16bn as base quarter had high value order of Akash Missile and some deferment of...
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Bharat Electronics Ltd. has gained 70.82% in the last 6 Months
Agriculture    
SECTOR | 19 Nov 2020
Prabhudas Lilladhar
GoI's move to provide additional Rs 65000 crs of fertiliser subsidy is positive We maintain reduce rating (TP- Rs 676) on CRIN due to capacity constraints in NPK and likely headwinds on the raw material side starting 4Q...
Prabhudas Lilladhar released a Sector Update report for Agriculture on 19 Nov, 2020.
Coal India Ltd.    
18 Nov 2020
123.25
0.41%
buy
Prabhudas Lilladhar
months. However, that is largely led by equally weak base. We expect growth to taper off to 7% November onwards due to improved base. In spite of attractive on valuations (EV/EBITDA at 2.5x FY22e), stock would continue to...
Coal India Ltd. is trading below it's 100 day SMA of 125.3
245.10
0.51%
Prabhudas Lilladhar
Labour availability stands at 80% pre-covid levels (vs 60% pre-covid levels by Sep'20); Company expects to reach ~100% by Dec'20. Ahluwalia Contracts (ACIL) posted a strong quarterly performance with execution rising 4.1% YoY (vs PLe 23% decline) led by rise in labour...
Ahluwalia Contracts (India) Ltd. is trading above all available SMAs
Brokerage Research Reports    
TREND | 17 Nov 2020
Prabhudas Lilladhar
IPM grew by 4% YoY in Aug-Oct after second consecutive growth month. Oct-20 data points indicate that IPM growth could be back at pre-COVID level as 1) IPM witnessed second consecutive month of strong growth, for the first...
ICICI Securities Limited released a Sector Update report for Brokerage Research Reports on 23 Nov, 2020.
Pharmaceuticals & Biotech.    
SECTOR | 17 Nov 2020
Prabhudas Lilladhar
IPM grew by 4% YoY in Aug-Oct after second consecutive growth month. Oct-20 data points indicate that IPM growth could be back at pre-COVID level as 1) IPM witnessed second consecutive month of strong growth, for the first...
Nirmal Bang Institutional released a Sector Update report for Pharmaceuticals & Biotech. on 20 Nov, 2020.
LIC Housing Finance Ltd.    
12 Nov 2020
324.05
0.70%
Prabhudas Lilladhar
to 1.7% remains elevated despite 87% salaried class focus (c) developer loan NPA at 17% although 2/3 big ticket cases stand in final stages of resolution. While NIMs stood steady this quarter, the same do not stand sustainable for FY21 as balance transfer cases to rise in light of high competitive intensities. We believe FY23 should witness revival (loan growth 15%+, NIMs 2%+ and NPAs 2.5%; current estimate 3.5%). As macro tailwinds signal beginning of bottoming out of painful home finance cycle, we upgrade LICHF to HOLD and tweak valuation multiple to 0.9x PABV Sep'22 estimates arriving at price...
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Number of FIIs/FPIs holding stock fell by 9 to 522 in Sep 2020 qtr.
Aurobindo Pharma Ltd.    
12 Nov 2020
879.25
3.62%
Prabhudas Lilladhar
CAPA completed for Unit-I, IX, VII and XI. We increase our earnings estimate by 5% for FY21E and FY22E on the back of early normalization of Auromedics (Gx-Injectable) in US. The 2Q earnings were higher than our estimate due to much higher growth in EM and ARV....
Promoters pledge increased to 9.34% of holdings in Sep 2020 qtr.