Broker Radar For Feb 14



Morgan Stanley on new stressed asset framework:
  • It's a step in the right direction and prepares banks for IFRS.
  • New restructuring scheme will further catalyze NPL cleanup – a positive.
  • The new scheme could imply higher slippages and provisioning for the current and next fiscal.

Citi on GAIL (India):
  • Maintained ‘Neutral’ with the price target of Rs 510.
  • December quarter operating income and net profit were below estimates.
  • Gas transmission volumes surprise positively.
  • LPG shines again, petchem remains muted.
  • Next step for GAIL’s is unified tariff proposal.
  • Given riskier business profile, prefer IGL, GSPL, PLNG, GGAS in gas space.

BoFAML on Britannia:
  • Maintained ‘Buy’ with price target of Rs 5,500
  • December quarter was a solid quarter. Operating income and net profit were ahead of estimates with double-digit volume growth.
  • International business growth lagged due to geopolitical tension.
  • Multiple drivers to sustain growth; Expect strong execution.
  • Strong growth to back premium valuation.
  • Expect earnings per share to grow at a compounded rate of 18 percent over the financial years through March 2020 backed by market share gains.

UBS on Britannia:
  • Maintained ‘Buy’ with the price target of Rs 5,550.
  • Double-digit volume growth is a positive surprise.
  • Stable raw material prices help improvement in profitability.
  • Potential of new initiatives not priced in.
  • Volume growth momentum to accelerate further in the second half of the next financial year.
  • Benefits announced in Union Budget 2018 to aid volume growth.

Macquarie on Sobha:
  • Maintained ‘Outperform’; raised price target to Rs 646 from Rs 603.
  • Q3FY18 results were in line with estimates.
  • Demonstrated strong operating performance.
  • Quarterly presales at an all-time high; New launches to aid momentum.
  • Operating cash flows remain positive; Debt under control.
  • New launches planned in key markets; Expect presales to remain strong.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
Share on Google Plus Share on Pinterest

About Bhoomi Desai

0 comments: