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  • Finolex Inds.

    We expect FIL to benefit from favourable demand environment on account of government’s focus on the agriculture and housing sectors. Its plans to increase the share of non-agri in revenue mix to ~50% over 4-5 years and capacity expansion in P&...

    Buy Reco. Price: 525.55

  • Reliance Power

    Reliance Power Ltd (RPL) is likely to report revenue CAGR of 1.5% over FY18-20E aided by addition of renewable power generation capacity. We expect PAT CAGR of 7.8% over FY18-20E with EBITDA margin of 42.8% in FY20E. The stock is currently trading at 8x FY2...

    Sell Reco. Price: 28.40

  • Adani Enterp.

    AEL is likely to see revenue CAGR of 2.9% over FY18-20E aided by coal production volumes supported by strong domestic steel and thermal power production. EBITDA margins are likely to contract by 31bps over FY18-20E due to reversion in coal trading margins. ...

    Sell Reco. Price: 135.00

  • Rel. Comm.

    Reliance Communication's (RCOM) asset sale of its wireless spectrum, tower, fibre and MCN assets to Reliance Jio Infocomm has recently concluded. The company reported revenue growth of 6% qoq in Q1FY19 to Rs1,006cr. Net Loss for continuing operations in...

    Sell Reco. Price: 12.55

  • KIOCL

    KIOCL would see revenue CAGR of 20.7% over FY18-20E as volumes are expected to increase by 13.7% CAGR over the same period. The company is likely to report positive EBITDA for FY19E on the back of improving realisations and higher utilization levels. The st...

    Sell Reco. Price: 169.00

  • NIIT Tech.

    NIIT Tech is focussed on improving its sales growth by constantly enhancing its deal pipeline (aims for one deal per quarter) and adding new logos. Digital revenues have increased to ~26% of total revenue from ~20% in FY17, driving bulk of the growth. I...

    Buy Reco. Price: 1,218.00

  • JK Tyre & Indust

    JKTIL has multiple triggers to growth such as completion of restructuring at Mexico plant resulting in margin gains, leadership position in TBR category which is growing at a strong pace and radialization boom in CV segment. Recent hike in axle load cap...

    Buy Reco. Price: 104.00

  • Bombay Burmah

    We are positive on Britannia Industries due to its dominant position in bakery, confectionary and dairy industry. Performance for Bombay Dyeing has suffered due to deteriorating business conditions and a high debt burden (FY18 D/E 4.2x). However, BBTC&rsquo...

    Buy Reco. Price: 1,455.60

  • OCL India

    Dalmia Group’s proposed merger of Dalmia Bharat and OCL is expected to bring supply chain efficiencies and increased market share. Revenue and PAT CAGR is estimated at 10% and 33% over FY18-20E driven by (a) demand improvement in Eastern India (afford...

    Buy Reco. Price: 1,112.00

  • Star Cement

    Star, with a ~23% market share in North East and premium pricing (of Rs30-40/bag), enjoys more than 2x EBITDA/tn vis-à-vis peers. We remain upbeat on Star given (a) presence NE market (better growth opportunities), (b) strong dealership network (~2,6...

    Buy Reco. Price: 102.00