Personal Finance & Investment share price target

IGPL is the largest domestic producer of PAN with 47% of the capacity followed by Thirumalai Chemicals which accounts for 40% of the capacity. Mysore Petrochemicals Ltd.

Although the warning letter for the Halol facility is a setback for Sun Pharma, we resume our coverage with a BUY rating on account of (1) Strong cash flow from Gleevec (~US$ 1.3bn in sales) over FY17-FY18E (2) A promising pipeline of specialty products (including MK-3222) and complex generics, and (3) A strong war chest (~US$ 1.5bn) and proven track record of inorganic growth. Our TP is Rs 900 (24x FY18E EPS Rs 20 for Gleevec non-recurring sales)

Note: *The Issue shall remain open for subscription during the period indicated above, with an option for early closure or extension, as may be decided by the Board of Directors or the Bond Committee. In the event of such early closure or extension of the subscription period of the Issue, our Company shall ensure that public notice of such early closure or extension is published on or before the day of such early date of closure or the Issue Closing Date, as the case may be, through advertisement/s in at least one leading national daily newspaper with wide circulation....

Beating expectations, Mindtree delivered a superlative 8.1% QoQ USD organic revenue growth (16.4% QoQ reported, US $180.3mn including Bluefin and Relational acquisitions), led by digital growth (22.8% QoQ). BFSI and MFG grew 9% and 8.7%, respectively. A key positive was strong growth in hi-tech ( 11.6% QoQ). Retain BUY with a TP of Rs 1,665 ( 19%) based on 18x one-year forward rolling EPS

With USD revenue growth in single digits for FY16 and 18.5x FY17E EPS, the TCS stock is expensive. Global slowdown, key verticals facing headwinds, high ask rate to drive revenue growth, and a high valuation underpin our NEUTRAL rating. Revise TP to Rs 2,550 from Rs 2,780 at 17x one-year forward rolling EPS, at a 10% discount to Infosys, which we believe is justified.