Broker Radar for April 18

Check out the stock commentaries and recommendations from brokerage houses.

Apr 18, 2019 03:04 IST India Infoline News Service

Morgan Stanley Maintained ‘Underweight’ on Wipro; hiked TP to Rs 255 from Rs 225.
  • March saw weaker IT services revenue but better EBIT.
  • Margin improvement was a key highlight in 2018-19.
  • Expect second half of the current financial year’s growth to be better than the first half.
Investec Maintained ‘Buy’ on Eicher Motors; cut TP to Rs 22,550 from Rs 24,750.
  • Expect volume momentum for RE to sequentially improve from April. 
  • Expect temporary market share loss because of higher non-ABS inventory.
  • Expect Eicher’s volume growth return to double digits from April 2021.
  • Cut EPS for the next two financial years by 8% and 11%. respectively to factor in lower

CIMB maintained ‘Add’ on Ambuja Cement; hiked TP to Rs 254 from Rs 246.
  • Expansion on track; Volume growth to drive earnings. Expect company to report 7.7% sales volume CAGR in CY18-21.
  • Balance sheet to remain strong; fundamentals to support valuations.
Investec downgraded to ‘Hold’ from ‘Buy’ on Mindtree; hiked TP to Rs 1,012 from Rs 950.
  • Mindtree guided mid-teen revenue growth and 120 basis points margins expansion for 2019-20.
  • This is likely to leave investors wanting more in L&T’s open offer.
  • Will L&T increase the open offer price or stay with what it already has is what one needs to consider for a BUY call at this stage.
CIMB on Indian Steel.
  • Global rally in steel price is starting to wane now. In absence of global support steel prices set to soften further.
  • Steel price decline is imminent as channel filling is over and global demand not picked up.
Source: Media reports

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