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|Summary||Date||Stock||Broker||LTP||Target||Price at reco|
Change since reco(%)
|2018-11-01||Arvind Ltd.||Motilal Oswal||86.40||397.00||345.70 (-75.01%)||Neutral|
|2018-08-16||Bhansali Engineering..||Prabhudas Lilladhar||75.35||246.00||137.10 (-45.04%)||226.48||Buy|
Bhansali Engineering Polymers (BEPL) recently informed the stock exchange that they have decided to continue with expansion of its compounding capacities at Abu road from 100 KTPA to 137 KTPA which will be operational by March 2019. The entailed capex is ~Rs 300mn. In this connection, plant and machinery have been received at Abu Road Unit and its installation will commence in due course to meet the time lines. The Satnoor plant is operating properly and it will be possible to attain and maintain the level of production as it was before the fire. Management is confident of sustaining 20% volume growth. In our estimates,...
|2018-08-20||Vascon Engineers Ltd.||Kotak Securities||15.20||48.00||30.40 (-50.00%)||215.79||Buy|
Net revenue for the quarter grew at 15.4% yoy to Rs 939 mn driven by 19.8% yoy growth in EPC business at Rs 835 mn while real estate revenue declined by 11.2% yoy to Rs 104 mn. Adjusted for Ind AS 115 impact, the revenue from real estate segment grew by 78% yoy to Rs 208.5 mn. EBITDA margins for the quarter also declined by 110 bps yoy on account of loss reported in the real estate segment due to higher fixed cost to market launch pipeline, lower revenue recognition due to accounting changes and losses recognized in Windermere sale....
|2018-08-17||Prabhat Dairy Ltd.||Religare||75.95||194.00||154.75 (-50.92%)||155.43||Buy|
Prabhat Dairy Ltd (PDL) reported healthy set of numbers for Q1FY19, in line with our expectation. Its revenue grew by 7.3% yoy on back of strong volume growth across various products. Its EBITDA and PAT grew by 14.5% and 90.1% yoy, respectively driven by lower input cost, lower interest and tax expense. Further both EBITDA and PAT margins improved by 53 bps and 125 bps yoy.
|2018-10-03||Bhansali Engineering..||Prabhudas Lilladhar||75.35||246.00||129.45 (-41.79%)||226.48||Buy|
Capacity to be expanded to 137,000 TPA by March 2019 and for FY19 the output likely to be 75,000 TPA and for next year FY20 minimum they will achieve output of 100,000 to 120,000 TPA. General and specialty grade to roughly be in equal proportions and there will...
|2018-11-09||Graphite India Ltd.||ICICI Securities Limited||417.10||1400.00||994.00 (-58.04%)||235.65||Buy|
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research For Q2FY19, Graphite India reported an outperformance on all fronts. The company reported a consolidated topline of | 2345 crore (up 344% YoY, 19.3% QoQ) higher than our estimate of | 1990 crore Consolidated EBITDA for the quarter was at | 1640 crore (our estimate: | 1249 crore). EBITDA margin was at 69.9% (vs. Q2FY18: 27.3%, Q1FY19: 73.1%, our estimate: 62.8%). On a QoQ basis, raw material cost (as percentage of sales) increased to 18.1% from 14.8%...
|2018-08-17||Simplex Infrastructu..||ICICI Securities Limited||169.00||480.00||419.15 (-59.68%)||184.02||Hold|
ICICI Securities Limited
Simplex Infrastructure's (SIL) topline grew 4.8% YoY to | 1584.2 crore (our estimate: | 1668.6 crore) possibly on account of muted execution following stretched working capital in Q1FY19 EBITDA margins slipped slightly by 26 bps YoY to 11.2% but was broadly in line with our expectation of 11.0% PAT de-grew 1.6% YoY to | 28.3 crore (our estimate: | 32.9 crore) due to higher tax rate (30.1% in Q1FY19 vs. 21.1% in Q1FY18) Auditor raises attention on unbilled revenues worth | 447.5 crore...
|2018-08-14||Prabhat Dairy Ltd.||ICICI Securities Limited||75.95||185.00||151.50 (-49.87%)||143.58||Buy|
ICICI Securities Limited
Net sales for the quarter rose 7.3% to | 385.7 crore (I-direct estimate | 408.4 crore) on account of strong volume growth, partly offset by 23.7% YoY decline in milk prices. The company posted 36% volume growth during the quarter, largely driven by increased sale of pouch milk, ghee, cheese, curd and paneer Gross margins improved 194 bps as milk prices declined substantially during the quarter mainly due to lower global skimmed milk powder (SMP) prices. However, an increase in overhead...
|2018-08-16||Rain Industries Ltd.||IDBI Capital||128.45||295.00||218.25 (-41.15%)||129.66||Buy|
Rain Industries Q2CY18 result was slightly ahead of our forecasts. Sales increased 15.1% QoQ to Rs38,126 mn led by higher CPC volumes. Although Carbon Products EBITDA/tonne fell 15.1% QoQ to $110; nevertheless, CPC volumes (a concern in Q1CY18) recovered 21.8% QoQ to 474 kt. Overall, EBITDA was better than our forecast at Rs7,017 mn (+8.5% QoQ) on better than expected Advanced Carbon Materials (ACM)...
|2018-11-21||Vodafone Idea Ltd.||Motilal Oswal||17.05||55.00||44.45 (-61.64%)||222.58||Buy|
22 November 2018 Management has brought forward the synergy target (INR140) achievement (INR84b) will be in the form of opex reduction, majority (INR55b) of which will be achieved by minimizing network opex (INR18b already accrued with 66,000 site exits in 2QFY19). Additional 22,000 overlapping site exits and network integration should lead to further ~INR37b rental/energy savings over 30 months. Management explained that it will decisively streamline duplication of network in ~300 districts, wherein it has revenue/EBITDA share of 10%/-41% and market potential too is very low. Further, it will save INR17b/INR12b from G&A;/customer opex synergies (includes streamlining customer acquisition and servicing, and consolidation of A&P; cost of the two brands). Vodafone Idea Being the spectrum leader in the market (spectrum life of nearly 16-18 years), the company has at hand the key task of accelerated deployment of 4G spectrum and network rollout.