Equity Research Reports

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Selected Nature: Company Name:All | Our View:All | Sector:All
  • DCB Bank Ltd

    Invest Now

    Our View

    Buy

    Target Price

    171.00

    Reco Price

    137.00

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    The stock is showing remarkable strength and we expect DCB Bank to outperform in the medium-term. We recommend to BUY DCB Bank only if stock sustains above Rs 129 and between Rs 133 - Rs 140 for a target of Rs 171. Maintain stop loss...More

  • Exide Industries Ltd

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    Our View

    Buy

    Target Price

    239.00

    Reco Price

    208.00

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    Exide Industries has given a strong recovery from its recent low of 168.45 by forming a Bullish Hammer candlestick pattern on the monthly charts and is trading in a higher top higher bottom chart structure. The stock has broken out its multi-year resistance of 205...More

  • Axis Bank Ltd

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    Our View

    Buy

    Target Price

    638.00

    Reco Price

    520.00

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    After being in the declining trend for the past six months, Axis Bank has shown signs of a reversal by creating a base. The stock has confirmed the bottom building process by entering into a higher top higher bottom cycle and finally managed to breach...More

  • Steel Authority of India Ltd

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    Our View

    Buy

    Target Price

    77.00

    Reco Price

    64.00

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    Sail has been consolidating with a rising trajectory and the stock traces its roots back to February 2016 where it hit low of Rs 33.5. Since then SAIL moved higher creating a typical “Higher top higher bottom” cycle. The entire rising channel breakout finally occurred...More

  • NTPC Ltd

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    Our View

    Buy

    Target Price

    205.00

    Reco Price

    170.00

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    On analyzing the weekly chart, the current move is also a continuation of a larger symmetrical triangle pattern breakout which took place in early November 2016. This further highlight the overall bullish structure of the stock and also advocates that the cup and handle pattern...More

  • Tata Power Company Ltd

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    Our View

    Buy

    Target Price

    90.00

    Reco Price

    76.00

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    We have BUY rating on the stock due to 1) high probability of compensatory tariff case in Supreme Court to be in favor of TPL 2) improving profitability of main subsidiaries & 3) improving cash flows. We have assigned 1.2x to FY19E P/BV and arrive...More

  • Arvind Ltd

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    Our View

    Buy

    Target Price

    408.00

    Reco Price

    345.00

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    We have positive outlook on the stock due to 1) improving share of B2C revenues 2) rising share of fabrics sold as % of garments and focus on value added products in textile value chain 3) operating leverage benefits 4) reducing debt to improve cash...More

  • Bharat Electronics Ltd

    Invest Now

    Our View

    Buy

    Target Price

    1,860.00

    Reco Price

    1,458.00

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    We expect BEL to resume its northbound journey and move higher towards its potential target of Rs 1,860, translating into a 27.5% upside. The whole breakout would stand void if BEL cracks below Rs 1,260 on closing basis....More

  • K E C International Ltd

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    Our View

    Buy

    Target Price

    167.00

    Reco Price

    142.00

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    Robust order inflow from domestic & International markets with its rapid execution gives strong revenue visibility. Further, we expect expansion in the EBITDA margins from 8% In FY16 to 8.4% in FY17E & 18E on account of better product mix & improved pricing. We believe,...More

  • RBL Bank Ltd

    Invest Now

    Our View

    Buy

    Target Price

    421.00

    Reco Price

    364.00

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    We expect RBL bank to deliver earnings CAGR of ~42% over FY16-FY19E. We believe the stock deserves higher multiple given higher earnings growth, steady asset quality, improving business mix and loan growth above industry average. We value the stock at 3.0x FY19E ABVPS to arrive...More

  • Engineers India Ltd

    Invest Now

    Our View

    Buy

    Target Price

    355.00

    Reco Price

    292.00

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    Based on the above evidence, the projection of the structure indicates first potential target of Rs 330 and second target of Rs 355, translating into 21.5% upside. The breakout would stand void if Engineers India breaks below the midpoint of the Flag pattern placed at...More

  • Carborundum Universal Ltd

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    Our View

    Buy

    Target Price

    314.00

    Reco Price

    258.00

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    We recommend BUY on the stock led by following reasons 1) improving domestic demand and improved capex cycle to provide volume led growth 2) new product development and geographical expansion at Russian subsidiary to improve sales & profits 3) alteration in the China’s business model...More

  • Munjal Auto Industries Ltd

    Invest Now

    Our View

    Buy

    Target Price

    145.00

    Reco Price

    110.00

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    Munjal Auto has been stuck in a narrow trading range for the past 24-months. During this phase, the stock went on to create a strong base indicating accumulation. Munjal Auto slipped almost seven times in past 2-year and every time it declined Rs 66 turned...More

  • Zee Media Corporation Ltd

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    Our View

    Buy

    Target Price

    41.00

    Reco Price

    33.00

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    The stock has been oscillating in a controlled form between Rs15 to Rs30 for the past 46-months. Since May 2014, Zee media made an attempt to breakout above the trading range four times but failed to do so. However, for the first time the stock...More

  • Magma Fincorp Ltd

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    Our View

    Buy

    Target Price

    139.00

    Reco Price

    115.00

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    We recommend BUY on the stock due to following reasons 1) changing portfolio mix towards high margin products will led to NIM’s expansion 2) growth potential in loan book 3) asset quality stabilization due to improving rural economy outlook 4) declining credit cost as a...More

  • GRUH Finance Ltd

    Invest Now

    Our View

    Buy

    Target Price

    410.00

    Reco Price

    335.00

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    PDF

    After hitting a fresh life time high of Rs 317.7 on January 16, 2015, Gruh Fin entered into a consolidation phase which lasted ~18 months testing lows of Rs 189.50. In the consolidation process, the stock formed a symmetrical triangular pattern, breaking out convincingly only...More

  • Aurobindo Pharma Ltd

    Invest Now

    Our View

    Buy

    Target Price

    998.00

    Reco Price

    855.00

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    We have a positive view on the stock due to 1) its strong US ANDA pipeline and on expectation of product approvals gaining pace 2) turnaround in the European business 3) significant growth potential in injectable business 4) balance sheet de-leveraging due to improving free...More

  • Reliance Industries Ltd

    Invest Now

    Our View

    Buy

    Target Price

    1,280.00

    Reco Price

    1,077.00

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    PDF

    RIL is not just stuck in a range for the past 29-months but for the past seven years. The stock is on the verge of a multiyear breakout. However to confirm the same, RIL has to convincingly surpass a closing of Rs.1145, post which fresh...More

  • HeidelbergCement India Ltd

    Invest Now

    Our View

    Buy

    Target Price

    166.00

    Reco Price

    133.00

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    We believe an improving demand outlook in central India augurs well for HCIL owing to the following reasons 1) insignificant capacity addition over the last few years in company’s target markets 2) improved cement demand led by infra & rural spending 3) upcoming election spending...More

 
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