Brokerage Research Reports share price target

MAHINDRA & MAHINDRA LIMITED | Auto & Farm Equipment Strong order book points towards robust volumes hereon Margins tainted by high RM costs M&M's Q3 FY22 numbers came in line with our expectations at the topline at 152 bn, a growth...

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Background: JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement-based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.6MTPA (second only to UltraTech). The company also manufacturers putty and has an installed capacity of 0.7MTPA. The company also has plants in Fujairah (UAE) with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey cement capacity by 3 MTPA through two split grinding units (1.5 MTPA...

Background: Emami is a FMCG company with niche focus on relatively under penetrated segments such as antiseptic cream, fairness cream, talcum powder, cooling oil, pain balm and pain reliever. Emami's power brands such as Navratna Oil, Boroplus Cream, Zandu & MenthoPlus Balm, Fair & Handsome, Boroplus Powder, Navratna Cool Talc, Fast Relief, SonaChandi & Zandu accounts for 75% of company's sales. Emami sales have grown at a CAGR of 38.5% (FY2010-20)....

largest player in North India contributing over 40% of its revenues. The company also has a presence in the western region in Gujarat, Maharashtra and southern region in which Karnataka is a key market for the company. Q3FY22 Results: JK Cement's performance remained ahead of estimates. The company reported sequential expansion in margin despite high cost pressure. EBITDA of | 370.8 crore remained better than our estimated EBITDA of | 312.3 crore due to controlled other costs excluding fuel. EBITDA margin...

Background: Indian Bank features among the mid-sized banks in the public sector space. As of 3QFY22, the bank had business of about 9.6tn operating through a network of 5,754 branches. Prior to amalgamation with Allahabad bank, Indian Bank's footprint was largely skewed towards the southern states of Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. Now the combined entity has a stronger presence in Central and Eastern states of India too. With RoA of ~0.75%, the bank features amongst the most profitable banks in the PSU space. The bank has...

Background: TTKPT broadly operates under 3 major segments - Pressure Cooker & Pans, Non-stick Cookware and Kitchen Electric Appliances. TTKPT enjoys high brand recall and they spend ~7.2% of their annual sales for brand building and promotional activity, which enables them to dominate most of the segments in which they operate. TTKPT has a market share of ~60% in the outer-lid pressure cooker, ~15% in inner-lid pressure cooker within the organized market and in...

Weathering competition on client acquisition: Angel has been at the forefront in terms of client acquisitions with ~12.2% of incremental NSE active clients recorded over the past six quarters. Its share in the...

The stock has recently witnessed a decent correction from near the 403 level and currently has attained the trendline support zone near 320 level showing signs of bottoming out and indicating a trend reversal. The overall chart looks attractive with potential to rise further upward and has immense space to yield a decent return. The RSI indicator has also indicated a gradual rise with improvement in the bias and gaining strength to anticipate for further upside move. We suggest to...