Broker Radar for August 28

Check out the stock commentaries and recommendations from brokerage houses.

Aug 28, 2019 03:08 IST India Infoline News Service

Citi maintained 'Buy' on Jubilant Foodworks with TP of Rs1,400.
  • Attractive Chinese food opportunity with Hong’s Kitchen launch.
  • Chinese food is around three times more popular than the pizza market.
  • Chinese is the second largest cuisine after North Indian food in India.
HSBC maintained 'Buy' on IPCA Labs; hiked TP to Rs1,090 from Rs1,020.
  • The outlook remains strong for base business which supports 25% EPS compounded annual growth rate over financial years 2019-22. Operating leverage play remains intact.
  • FDA clearance would add to base growth.
HSBC maintained 'Buy' on Power Grid Corp with TP of Rs230.
  • Recent order is unlikely to result in credit risk.
  • Recent CERC order allows temporary non-payment of transmission charge by discoms.
  • Believe this is applicable for specific projects of national importance.
Nomura maintained 'Buy' on HDFC Bank; hiked TP to Rs2,600 from Rs2,450.
  • Expect the bank to manage robust profitability.
  • Small bumps, but still a resilient franchise. Credit costs – normalising from a low base.
HSBC maintained 'Buy' on UPL; cut TP to Rs720 from Rs750.
  • China soybean imports from Brazil remain soft but trade tensions could support Brazil exports again and benefit UPL.
  • African swine fever remains a concern, but lower US supplies can offset the impact and safeguard exports from Brazil.
Source: Media reports

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