Broker Radar for March 20

Check out the stock commentaries and recommendations from brokerage houses.

Mar 20, 2019 08:03 IST India Infoline News Service

broker radar
Nomura maintained ‘Buy’ on L&T with a TP of Rs1,670.
  • Mindtree acquisition to add value; see EPS gains from FY21.
  • Acquisition rules out the large near-term dividend. Client/senior management attrition is a major risk.
Citi maintained ‘Buy’ on UltraTech with a TP of Rs4,450.
  • Cement industry in the sweet spot with improving demand, rising prices and falling costs.
  • Management expects EBITDA margin to revert to the highs of the first quarter of the current financial year.
  • Focus area, profitable market share, deleveraging, efficiency gains and use of alternative fuels.
HSBC maintained ‘Buy’ on Hero MotoCorp cut a TP to Rs3,500 from Rs4,000.
  • Volumes are likely to remain volatile led by high inventory channel and regulatory changes.
  • Cut EPS estimates by 5% and 7% led by lower volume and margin estimates.
  • Valuation remains undemanding and downside limited.
CLSA maintained ‘Buy’ on Jubilant Food with a TP of Rs1,600.
  • Channel checks indicate that Domino’s has introduced 10 new pizzas ahead of sporting events.
  • The focus is also on reducing delivery time; some stores targeting 20mins.
  • Efficiency and cost savings to continue; expect above 25% EPS CAGR over FY20-21.
Morgan Stanley on Oil and Gas Transport.
  • Fuel demand grew 4% despite slowing auto demand and challenges in the aviation sector.
  • Industrial fuel demand grew 5% despite competition from lower LNG prices.
  • Fuel prices remain in sweet spot supporting demand growth.
Source: Media reports

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