Broker Radar for September 12

Check out the stock commentaries and recommendations from brokerage houses.

Sep 12, 2019 03:09 IST India Infoline News Service

Buy Sell
BofAML maintained ‘Neutral’ on L&T; cut TP to Rs1,535 from Rs1,624.
  • September quarter order inflows steady; could match-high base of the first quarter of the previous financial year.
  • Working capital likely to get stretched; Valuations look fair for mid-cycle capex.
  • Earnings estimate unchanged; TP cut on lower valuation multiple.
Citi on Oil Marketing Companies Refining: Signs of IMO starting to play out.
  • Marketing margins stable, inventory loss concerns recede.
  • Disinvestment: Could swing either way, but stay prudent.
  • Strong fundamentals, positive earnings momentum and attractive valuations.

Nomura on India Insurance: August growth moderates for private insurers.
  • Still too early to extrapolate the slower APE growth in August.
  • Will need to keep a close watch as most insurers seem to be pricing in sustainable growth.

Source: Media reports

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