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We feel investors could buy the stock at the CMP and add on dips to Rs ~221-225 band (14.0x CY20E EPS) for sequential targets of Rs 287 (18.0x CY20E EPS) and Rs 303 (19.0x CY20E EPS). At the CMP of Rs 250 the stock trades at 15.7x CY20E EPS.
Sensex reported small losses while nifty ended almost flat. Broader market witnessed selloff amid volatile crude oil prices and expiry of April F&O contracts. World equity markets slipped amid global growth worries.
Neogen Chemicals Ltd is one of India’s leading manufacturers of bromine -based, and lithiumbased, specialty chemicals. Specialty chemicals are those chemicals that impart different properties to a variety of products (i.e. the effect that specialty chemicals have varies based on the product) and have a high degree of value addition.
Wipro Ltd. at its board meeting held on 16-Apr-19 approved buy back of 32.31 cr shares (5.35% of its equity) through a tender offer at a price of Rs 325 per share resulting in a total offer size of Rs 10,500 cr.
Mastek incorporated in 1982, is engaged in providing software solution and integration services to Government, Retail and Financial services organisations worldwide. Over time, it has emerged as a leading provider of Enterprise Digital Transformation services for both public and private enterprises.
Heidelbergcement India Limited (HCIL) is a subsidiary of global major HeidelbergCement Group, Germany, having its major operations in Central India. The company manufactures and sells cement in India under its brand “mycem cement”. The company has a total capacity of 5.4 mn tonnes.
CCL is India’s largest manufacturer and exporter of instant coffee with a market share of ~28%. It supplies to more than 60 countries and has established long term relationships with customers.
We feel investors could BUY the stock at CMP and add on declines to Rs 164-168 band (13x Dec-20E EPS) for sequential targets of Rs 209.5 (16.5x Dec-20E EPS) and Rs 222.5 (17.5x Dec-20E EPS) in three to four quarters. At a CMP of Rs 186, it is trading at ~14.6x Dec-20E EPS.
Wipro Ltd is the third largest Indian IT services company and the largest third-party BPO operator in India. It has the widest range of services, including systems integration, IT-enabled services, package implementation, software application development & maintenance, and R&D services.
We think investors could BUY the stock at the CMP and add on declines to Rs 269-273 (11.0x FY20E EPS) band for sequential targets of Rs 346 (14.0x FY20E EPS) and Rs 393 (16.0x FY20E EPS) over 3-4 quarters. At the CMP of Rs 305 the stock trades at 12.4x FY20E EPS.