Category: Broker Research


By investing in attractive, fiber-based markets, controlling costs, managing capital spending and focusing on deliberate improvement efforts to increase productivity and efficiency, have generated strong set of numbers, free cash flow.
July 19, 2018, 3:32 p.m.

We have revised our multiples downward due to the above reasons, revised our FY19 and FY20 estimates and our revised target is Rs 280 (10x FY20E EPS).
July 19, 2018, 1:33 p.m.
Author : HDFC Sec | Publisher: indianotes.com

We studied Bajaj Auto’s (BJAUT) FY18 annual report to get insights into: (a) management’s view on the domestic motorcycle business, (b) drivers and sustainability of exports, (c) Fx hedging and (d) utilization of cash.
July 19, 2018, 11:28 a.m.
Publisher: motilaloswal.com

TCI has been performing well for the past 4 quarters posting good revenue growth and profit growth across segments. GST roll out is expected to further help company continue its growth in the Freight and the SCS business.
July 18, 2018, 3:13 p.m.
Author : HDFC Sec | Publisher: indianotes.com


Weighing odds, advise buying the stock with the revised target price of Rs 140 (previous target Rs 172 (adjusted for bonus)) based on 20x FY20e EPS of Rs 7.04 over a period of 6-9 months.
July 18, 2018, 3:01 p.m.

UPL’s long-term prospects remain positive, led by focus on branding and launching new innovative products, maintaining geographical presence , product and crop diversity, increasing share in the global agrochemical market, improving Innovation Turnover Index and consistently investing in backward as well as forward integration, resulting in better cost management.
July 18, 2018, 1:25 p.m.

We feel investors could buy the stock at the CMP, and add on dips to the Rs 320-324 band (30x FY20E EPS) for sequential targets of Rs 396 (37x FY20E EPS) and Rs 412 (38.5x FY20E EPS). At a CMP of Rs 354.9, the stock trades at 33.3x FY20E EPS.
July 16, 2018, 1 p.m.
Author : HDFC Sec | Publisher: indianotes.com

The domestic 2W industry is expected to grow at a CAGR of ~10% until FY22, led by the Scooter (CAGR of 12-14%) and Motorcycle (CAGR of 8-9%) segments.
July 16, 2018, 10:37 a.m.
Publisher: motilaloswal.com

According to media articles, the Indian government is expected to announce a hike in the axle load capacity for M&HCV (trucks and tractor trailers >16tons) by up to 25%.
July 16, 2018, 10:36 a.m.
Publisher: motilaloswal.com

LTFH is increasing, share of high yielding, low risk retail credit and increasing PCR against bad loans to provide comforts on assets quality. Company moved to recognition of GNPA at 90 days past due (DPD) since Q1FY18.
July 13, 2018, 1:11 p.m.