Ways2Capital Reviews : Broker Radar For June 19

Nomura on Tejas Networks:
  • Maintained “Buy” with a price target of Rs410.
  • The company upbeat on converged offerings and growth prospects in the US.
  • Tejas expects to recoup revenue loss in the US in the previous financial year.
  • Management maintains revenue growth guidance to compound at 20% over the fiscal 2017-2020.
Citi on Tejas Networks:
  • Maintained “Buy” with a price target of Rs430
  • Expect topline growth to revive in the current financial year.
  • Heavy investment in R&D has helped create competitive advantage.
  • Three macro trends in India would drive demand.
  • Early signs of investment in direct overseas selling is starting to pay off.
Morgan Stanley on TCS:
  • Maintained “Overweight” with a price target of Rs2,010.
  • Recent success on large deals provide confidence on revenue growth.
  • Believe improving revenue growth and rupee depreciation to act as tailwinds.
  • Prefer TCS despite high valuations.
  • Believe TCS could remain an interesting idea for the next 6-12 months.
Morgan Stanley on Reliance Industries:
  • Maintained “Overweight” with a price target of Rs1,241.
  • Expect 40% rise in refining margins by March 2021 from Diesel, IMO, gasifiers complexity.
  • Expect company to generate $3.5bn as free cash flow over the next three years.
  • Expect return ratios to climb back to 15% levels in two years.
  • Believe Jio could see strong subscriber adds, as its tariffs have higher value proposition.

(Source: Media Reports)
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About Bhoomi Desai