SONATA SOFTWARE, Aiming to reach, half a billion-dollar IT services revenues by FY26/27, acquires Quant systems Call & Research Report by ICICI Securities Sector: IT Services & Consulting CMP Rs. 706, Target Rs. 835 (18% upside potential) Target Period: 12 Months Sonata Software (Sonata) offers IT services (30%) and product licensing & deployment (70%). ● […]
Read more..CYIENT, Challenges ebbing steadily – re-rating on the cards Call & Research Report by Motilal Oswal Sector: IT Services & Consulting CMP Rs. 966, Target Rs. 1170 (21% upside potential) Target Period: 12 Months ● Cyient (CYL)’s operating performance has inherently been subdued over the past several years as a few of its growth engines […]
Read more..DEEPAK NITRITE, Headwinds to persist as new capacities are added Call & Research Report by Motilal Oswal Sector: Commodity Chemicals CMP Rs. 1789, Target Rs. 1890 (7% upside potential) Target Period: 12 Months ● The phenol/acetone spread over raw materials has declined 16% YoY to INR90/kg during 2HFY23 till date (v/s INR107/kg in 2HFY22) on […]
Read more..OIL INDIA (OINL IN), Operationally strong results Call & Research Report by Prabhudas Lilladher Sector: Oil Exploration and Production CMP Rs. 224, Target Rs. 305 (36% upside potential) Target Period: 12 Months We change our FY23-25E estimates by 9.6%/4.1/-1.9% to factor in higher oil realization of US$84/75/70bbl ($73/70/70bbl earlier), even as we increase our FY23E dividend […]
Read more..AUROBINDO PHARMA (ARBP IN), Risk reward favorable Call & Research Report by Prabhudas Lilladher Sector: Pharmaceuticals & Drugs CMP Rs. 469, Target Rs. 565 (21% upside potential) Target Period: 12 Months We cut our FY24/25E EPS est. by 7%/3% to factor in lower margins and upgrade to ‘BUY’ from Accumulate with revised TP of Rs565 (Rs550 […]
Read more..KALPATARU POWER TRANSMISSION (KPP IN), Decent sales growth; merger synergies to accrue Call & Research Report by Prabhudas Lilladher Sector: Transmission Towers / Equipments CMP Rs. 493, Target Rs. 670 (36% upside potential) Target Period: 12 Months We estimate FY23/24/25E EPS at Rs35.3/45.7/57.3 and upgrade to ‘Buy’ from Accumulate with TP of Rs670 (Rs549 earlier), after […]
Read more..SUDARSHAN CHEMICAL, All hopes on demand revival Call & Research Report by HDFC Securities Sector: Dyes & Pigments CMP Rs. 384, Target Rs. 435 (13% upside potential) Target Period: 12 Months We maintain ADD on Sudarshan Chemical (SCIL), with a price target of INR 435. The stock is trading at 28x FY24E EPS (RoE of […]
Read more..CITY UNION BANK, Divergence absorbed; but structural challenges remain Call & Research Report by HDFC Securities Sector: Bank – Private CMP Rs. 160, Target Rs. 230 (44% upside potential) Target Period: 12 Months Despite stable loan growth and higher recoveries from written-off accounts, City Union Bank’s (CUBK) Q3FY23 earnings missed estimates due to massive interest […]
Read more..MAHINDRA and MAHINDRA, Looking to up the ante Call & Research Report by HDFC Securities Sector: Automobile – Auto & Truck Manufacturers CMP Rs. 1365, Target Rs. 1554 (14% upside potential) Target Period: 12 Months M&M Q3 adjusted PAT at INR 20bn came in above our estimate of INR 18.7bn, primarily due to higher than-expected […]
Read more..KNR CONSTRUCTIONS, Muted performance Call & Research Report by HDFC Securities Sector: Construction – Infrastructure CMP Rs. 263, Target Rs. 335 (27% upside potential) Target Period: 12 Months KNR delivered a strong quarter, with revenue/EBITDA/APAT of INR 8.3/1.6/0.8bn beating our estimates by 1/(2)/(9)%. FY23 revenue guidance remained unchanged at INR 35bn, with the EBITDA margin pegged […]
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