Latest broker research reports from Reliance Securities buy, sell, hold, neutral recommendations along with target prices forecast and upside.
|Summary||Date||Stock||Broker||LTP||Target||Price at reco|
Change since reco(%)
|2019-03-05||ABB India Ltd.||Reliance Securities||1335.05||1230.00 (8.54%)|
|2019-02-18||Somany Ceramics Ltd.||Reliance Securities||390.15||307.75 (26.77%)|
|2019-02-18||Voltas Ltd.||Reliance Securities||601.50||520.05 (15.66%)|
|2019-02-15||JK Tyre & Industries..||Reliance Securities||89.90||88.35 (1.75%)|
|2019-02-15||Ahluwalia Contracts ..||Reliance Securities||317.90||262.00 (21.34%)|
|2019-02-15||Ashok Leyland Ltd.||Reliance Securities||87.60||79.70 (9.91%)|
|2019-02-15||Glenmark Pharmaceuti..||Reliance Securities||637.65||569.80 (11.91%)|
|2019-02-15||NBCC (India) Ltd.||Reliance Securities||63.85||50.10 (27.45%)|
|2019-02-14||Mangalam Cement Ltd.||Reliance Securities||281.00||201.70 (39.32%)|
|2019-02-13||Brokerage Research R..||Reliance Securities|
|2019-02-13||NCC Ltd.||Reliance Securities||109.10||82.80 (31.76%)|
|2019-02-13||Sun Pharmaceutical I..||Reliance Securities||465.00||428.70 (8.47%)|
|2019-02-12||Heidelberg Cement In..||Reliance Securities||176.15||146.20 (20.49%)|
|2019-02-11||India Cements Ltd.||Reliance Securities||96.15||77.15 (24.63%)|
|2019-02-11||Alkem Laboratories L..||Reliance Securities||1754.00||1896.00 (-7.49%)|
|2019-02-11||Aurobindo Pharma Ltd.||Reliance Securities||777.45||764.65 (1.67%)|
|2019-01-11||Tata Consultancy Ser..||Reliance Securities||1980.80||2190.00||1843.45 (7.45%)||10.56||Buy|
Robust TCV Growth Signals Strong Biz Momentum; Margin Disappoints Tata Consultancy Services (TCS) has reported a decent CC revenue growth of 1.8% QoQ in 3QFY19, while USD revenue came in softer-than-expected at US$5,250mn (+0.7% QoQ, below our estimate by 0.8%) owing to a higher-than-expected adverse cross-currency impact. Its TCV order bookings grew by a robust >20% QoQ to US$5.9bn (vs. US$4.9bn in 2QFY19), with bookto-bill rising strongly to 1.12x (vs. 0.94x in 2QFY19), which signals a strong traction in underlying business growth. On the flip side, its EBIT margin declined by 90bps QoQ to 25.6% (missing our estimate by 73bps) owing to higher wage cost and SG&A; expenses. Net profit rose by 2.6%...
|2019-01-10||IndusInd Bank Ltd.||Reliance Securities||1682.90||1652.00||1563.00 (7.67%)||Target met||Buy|
ff It made additional contingency provisioning to the tune of Rs2.6bn towards exposure to IL&FS; Holdco (exposure at Rs20bn), taking the total provisioning on this account to 30%. Further, haircuts could be ~40-50% on this exposure and the Bank will make additional...
|2018-11-20||Power Mech Projects ..||Reliance Securities||942.20||1178.00||915.50 (2.92%)||25.03||Buy|
Whilst PMPL's EBITDA margin marginally declined by 25bps YoY to 12.8% owing to sales mix, it remains healthy due to higher contribution of international projects, high-margin Civil & Other Works and O&M; business. Looking ahead, the Management expects margin to improve owing to shift in revenue-mix to high-margin O&M; business and growth in non-power business. Its reported PAT grew by 67% YoY to Rs284mn. Total consolidated debt stood at Rs2.8bn as of 2QFY19-end vs. Rs 3.1bn as of 1QFY19-end with net debt/equity ratio coming in at 0.2x, which provides a significant headroom for growth. As the Management is confident of utilising internal...
|2018-11-19||NBCC (India) Ltd.||Reliance Securities||63.85||90.00||59.85 (6.68%)||40.96||Buy|
NBCC reported a mixed performance in 2QFY19 with a better-than-expected growth in revenue booking and disappointing EBITDA margin. Beating our estimate, its reported revenue grew by 37% YoY to Rs15.4bn mainly led by 39% YoY increase in PMC revenue and 266% YoY rise in real estate revenue. PMC revenue accounted for 90% of its total revenue. A significant increase in other income (+207% YoY and +70% QoQ) resulted in 16% YoY growth in PAT to Rs859mn. NBCC stated that change in accounting rules to IndAS resulted in deferment of revenue booking especially for upfront fees under PMC contracts. Earlier, these incomes used to be reported in P&L;, which are shown under liabilities as advances received. These incomes would be booked...