Guj Alkalies

Gujarat Alkalies & Chemicals Limited (GACL) has taken up various projects for expanding its current product lines through debottlenecking of the existing plants and putting up additional capacities through new plants. This includes increasing the produc...

Buy Reco. Price: 441.00

Venkys (India)

We expect stabilization in price movements of maize and soya (key raw materials) on account of favorable monsoon and government initiatives to improve crop yields. These raw materials account for 75-80% of the cost of feed ingredients in poultry industry. W...

Accumulate Reco. Price: 1,870.00

Bharti Infra.

Bharti Infratel Ltd (BIL) to report revenue growth of 5.4% CAGR over FY18-20E due to (1) recovery in tower tenancy due to rollout of 4G services and (2)  rise in tower count due to coverage expansions. The stock also offers a dividend yield of ~5%. We ...

Buy Reco. Price: 285.00

Delta Corp

The acquisition of adda52.com marked Delta’s entry into online gaming, under-penetrated segment. Online/offline gaming and casino industry is at an extremely nascent stage (<0.05% market share globally). Armed with a strong balance sheet (0.01x D/E...

Buy Reco. Price: 212.00

H P C L

We believe that auto fuels would be the key demand driver, followed by LPG and lubricants. Moreover, takeover of government’s 51.1% stake in HPCL by ONGC is expected to lead to cost synergies. We expect revenue CAGR of ~7% over FY18-20E and EBITDA mar...

Buy Reco. Price: 286.00

Andhra Bank

The bank has been allocated Rs1,890cr under PSU banks recapitalization programme for FY18E (assist in providing for bad loans and maintain regulatory capital).  Due to the steep rise in provisions for bad loans and the accounts referred to the insolven...

Reduce Reco. Price: 31.00

ISGEC Heavy

Investments by oil refineries to meet EURO VI emission norms and increasing capex in fertilizer through government support bodes well for ISGEC. The company’s exports are expected to grow on account of orders for sugar refineries. Since ISGEC has unde...

Accumulate Reco. Price: 5,486.00

GE T&D India

GE T&D, post its acquisition by GE is seeking orders in solar power and storage solutions. The order backlog at Rs7,100cr (1.6x FY18 sales) and order intake of Rs3,923cr for FY18 provides decent revenue visibility. Notably, key order wins in private...

Buy Reco. Price: 288.00

Bharat Electron

We expect BEL to post revenue CAGR of 18% (FY18-20E). However, the government's efforts to promote ‘Make in India’ will require further de-licensing of defence products. Also, the government is focusing on building strategic partnership ...

Reduce Reco. Price: 100.00

KEI Inds.

KEI plans to increase its dealers network from 1,284 to 1,500 by FY19E. Thus, we expect it to increase market share (currently 8-9%) in retail cable segment. This will lead to retail revenue share increasing to 40% by FY20 (~34% in FY18). Moreover, orders f...

Buy Reco. Price: 414.00