Market Outlook
August 10, 2017
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
Indian markets are likely to open weak tracking global indices and SGX Nifty.
BSE Sensex
(0.7)
(216)
31,798
U.S. markets had another day of weak trading and ended with modest loss. Though
Nifty
(0.7)
(71)
9,908
the selling pressure was subdued, investors remained wary of the ongoing
Mid Cap
(1.7)
(256)
15,157
geopolitical tension. News that North Korea is planning to strike the US territory of
Small Cap
(1.7)
(270)
15,635
Guam came as a point of worry for investors. Markets could remain under pressure
Bankex
(0.9)
(246)
27,541
in the near term.
The European markets ended sharply lower on Wednesday as investors fled to safe
Global Indices
Chg (%)
(Pts)
(Close)
heaven, due to the growing tension between the USA and North Korea.
Dow Jones
(0.2)
(36)
22,049
Indian markets continued to trade weak on Wednesday and ended with losses.
Nasdaq
(0.3)
(18)
6,352
Global markets remained weak due to on going geopolitical tension between US
FTSE
(0.6)
(45)
7,498
and North Korea. The standoff between India and China on Doklam also seems
Nikkei
(1.3)
(257)
19,739
weighed on the markets. Though sharp corrections in the Indian market is not
expected, volatility could persist in the near term.
Hang Seng
(0.4)
(98)
27,757
Shanghai Com
(0.2)
(6)
3,276
News Analysis
Indoco Remedies (CMP: `189 / TP: `153 /Downside: 16.8%)
Advances / Declines
BSE
NSE
Detailed analysis is on Pg2
Advances
1,586
1,323
Investor’s Ready Reckoner
Declines
2,014
1,359
Unchanged
118
62
Key Domestic & Global Indicators
Stock Watch: Latest investment recommendations on 150+ stocks
Volumes (` Cr)
Refer Pg7 onwards
BSE
3,608
Top Picks
NSE
25,684
CMP
Target
Upside
Company
Sector
Rating
(`)
(`)
(%)
Blue Star
Capital Goods
Accumulate
675
760
12.6
#Net Inflows (` Cr)
Net
Mtd
Ytd
Dewan Housing FinanceFinancials
Buy
428
550
28.5
FII
(5(841)
(2,172)
56,224
Mahindra Lifespace
Real Estate
Buy
420
522
24.3
MFs
8553
3,400
54,346
Navkar Corporation
Others
Buy
189
265
40.2
KEI Industries
Capital Goods
Buy
220
258
17.3
More Top Picks on Pg5
Top Gainers
Price (`)
Chg (%)
Key Upcoming Events
Edelweiss
250
5.2
Previous
Consensus
Date
Region
Event Description
Bankindia
158
3.8
Reading
Expectations
Corpbank
50
3.0
Aug 10, 2017 US
Initial Jobless claims
240.00
240.00
Aug 10, 2017 UK
Industrial Production (YoY)
(0.20)
(0.10)
Fsl
35
2.9
Aug 10, 2017 US
Producer Price Index (mom)
0.20
Pageind
16,679
2.8
Aug 11, 2017 US
Consumer price index (mom)
-
0.20
Aug 11, 2017 India
Exports YoY%
4.40
Top Losers
Price (`)
Chg (%)
More Events on Pg7
Natcopharm
831
(10.2)
Adanient
125
(9.1)
Cadilahc
484
(8.8)
Granules
117
(7.9)
Kscl
608
(7.8)
#as on 9rd Aug, 2017
www.angelbroking.com
Market Outlook
August 10, 2017
News Analysis
Indoco Remedies (CMP: `189 / TP: `153 /Downside: 16.8%)
Indoco remedies like other pharmaceuticals companies posted bad set of
numbers. Sales came in at `204cr V/s `214cr expected and V/s `253cr in
1QFY2017, a yoy de-growth of 19.2%. The company witnessed a disruptive
1QFY2018, with domestic as well International sales getting affected adversely
due to GST implementation in India and voluntary stoppage of ophthalmic product
supplies to US respectively. The formulation sales (`185.7cr; 90.9% of sales in
1QFY2018), posted a dip of 20.7% yoy. The domestic formulation sales (`99.7cr),
a dip of 29.7% yoy. The International formulation sales (`86.0cr), a yoy dip of
6.9%. The API sales (`14.9cr), posted a yoy dip of 15.1%.
On operating front, the EBITDA margins came in at (1.7%) V/s (0.9%) expected V/s
14.7% in 1QFY2017, mainly on back of lower than expected sales during the
quarter. Gross margins came in at 65.2% V/s 64.8% in 1QFY2017; while R&D
expenses were 6.6% of sales in 1QFY2018 V/s 4.7% of sales in 1QFY2017. Thus,
the PAT came in at ` (21.7)cr V/s ` (13.8)cr expected V/s `19.7cr in 1QFY2017.
We maintain our sell rating on the stock, with a price target of `153.
Y/E
Sales OPM
PAT
EPS ROE P/E P/BV EV/EBITDA EV/Sales
March
(` cr)
(%)
(` cr)
(`)
(%)
(x)
(x)
(x)
(x)
FY2018E
1,154
14.9
104
11.3
15.0
16.7
2.4
11.4
1.7
FY2019E
1,310
14.9
117
12.7
15.0
14.8
2.1
9.7
1.4
Economic and Political News
Direct tax collection rises 19% in April-July to `1.9 lakh crores
SEBI gives suspected shell companies a chance to be heard
India adds 43 million new mobile subscription in Q4FY17
Corporate News
Changed provision norms lifts Tata Motors PAT for the quarter at `3200 cr
Eicher motors Q1FY18 PAT rises by 22% to ` 460 cr
Tata Chemicals eyes `10,000 cr soda ash business
Union Bank set to raise `2,000 cr
Brittania to rope in partner to focus on dairy business
www.angelbroking.com
Market Outlook
August 10, 2017
Quarterly Bloomberg Brokers Consensus Estimate
Bharat Forge Ltd - Aug 10, 2017
Particulars ( `cr)
1QFY18E
1QFY17
y-o-y (%)
4QFY17
q-o-q (%)
Net sales
1,050
889
18.2
1,126
(6.7)
EBITDA
304
244
24.2
320
(5.1)
EBITDA margin (%)
28.9
27.5
28.4
Net profit
160
122
31.0
208
(23.0)
Bharat Heavy Electricals Ltd - Aug 10, 2017
Particulars (`cr)
1QFY18E
1QFY17
y-o-y (%)
4QFY17
q-o-q (%)
Net sales
5,938
5,523
7.5
9,405
(36.9)
EBITDA
210
71
195.7
651
(67.7)
EBITDA margin (%)
3.5
1.3
6.9
Net profit
125
78
60.9
216
(42.0)
GAIL India Ltd - Aug 10, 2017
Particulars (`cr)
1QFY18E
1QFY17
y-o-y (%)
4QFY17
q-o-q (%)
Net sales
12,792
10,687
19.7
13,422
(4.7)
EBITDA
1,740
1,593
9.2
1,555
11.9
EBITDA margin (%)
13.6
14.9
11.6
Net profit
1,051
1,335
(21.3)
260
303.9
Motherson Sumi Systems Consol - Aug 10, 2017
Particulars (`cr)
1QFY18E
1QFY17
y-o-y (%)
4QFY17
q-o-q (%)
Net sales
12,615
10,352
21.9
11,100
13.6
EBITDA
1,202
940
27.8
1,254
(4.2)
EBITDA margin (%)
9.5
9.1
11.3
Net profit
458
303
51.2
706
(35.2)
Power Finance Corp Ltd - Aug 10, 2017
Particulars (`cr)
1QFY18E
1QFY17
y-o-y (%)
4QFY17
q-o-q (%)
Net profit
1,800
1,713
5.1
(3,409)
152.9
www.angelbroking.com
Market Outlook
August 10, 2017
Top Picks ★★★★★
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
Strong growth in domestic business due to its leadership
in acute therapeutic segment. Alkem expects to launch
Alkem Laboratories
21,332
1,784
2,161
21.1
more products in USA, which bodes for its international
business.
We expect the company would report strong profitability
Asian Granito
1,231
409
480
17.4
owing to better product mix, higher B2C sales and
amalgamation synergy.
Favourable outlook for the AC industry to augur well for
Cooling products business which is out pacing the
Blue Star
6,466
675
760
12.6
market growth. EMPPAC division's profitability to improve
once operating environment turns around.
With a focus on the low and medium income (LMI)
consumer segment, the company has increased its
Dewan Housing Finance
13,415
428
550
28.5
presence in tier-II & III cities where the growth
opportunity is immense.
Loan growth is likely to pick up after a sluggish FY17.
Karur Vysya Bank
8,207
136
160
17.8
Lower credit cost will help in strong bottomline growth.
Increasing share of CASA will help in NIM improvement.
High order book execution in EPC segment, rising B2C
KEI Industries
1,711
220
258
17.3
sales and higher exports to boost the revenues and
profitability
Speedier execution and speedier sales, strong revenue
Mahindra Lifespace
2,155
420
522
24.3
visibilty in short-to-long run, attractive valuations
Massive capacity expansion along with rail advantage at
Navkar Corporation
2,695
189
265
40.2
ICD as well CFS augurs well for the company
Strong brands and distribution network would boost
Siyaram Silk Mills
1,871
1,996
2,500
25.2
growth going ahead. Stock currently trades at an
inexpensive valuation.
Market leadership in Hindi news genre and no.
2
viewership ranking in English news genre, exit from the
TV Today Network
1,363
229
344
50.5
radio business, and anticipated growth in ad spends by
corporates to benefit the stock.
After GST, the company is expected to see higher
volumes along with improving product mix. The Gujarat
Maruti
2,31,671
7,669
8,495
10.8
plant will also enable higher operating leverage which
will be margin accretive.
Source: Company, Angel Research,
www.angelbroking.com
Market Outlook
August 10, 2017
Key Upcoming Events
Result Calendar
Date
Company
August 10, 2017
Motherson Sumi, Bharat Forge, Subros, BHEL, Power Fin.Corpn., Union Bank, IOB, MOIL, GAIL, Petronet LNG, Page
Tata Global, Bosch India, TVS Motor, Crompton Greaves, Suzlon Energy, BGR Energy , Blue Star, St Bk of India, Bank of
August 11, 2017
Baroda
Source: Bloomberg, Angel Research
Global economic events release calendar
Bloomberg Data
Date
Time
Country
Event Description
Unit
Period
Last Reported
Estimated
Aug 10, 2017
6:00 PMUS
Initial Jobless claims
Thousands
Aug 5
240.00
240.00
2:00 PMUK
Industrial Production (YoY)
% Change
Jun
(0.20)
(0.10)
US
Producer Price Index (mom)
% Change
Jul
0.20
Aug 11, 2017
6:00 PMUS
Consumer price index (mom)
% Change
Jul
-
0.20
India
Exports YoY%
% Change
Jul
4.40
Aug 14, 2017
5:30 PMIndia
Industrial Production YoY
% Change
Jun
1.70
0.20
India
Imports YoY%
% Change
Jul
19.00
7:30 AMChina
Industrial Production (YoY)
% Change
Jul
7.60
7.10
12:00 PMIndia
Monthly Wholesale Prices YoY%
% Change
Jul
0.90
1.35
Aug 15, 2017
2:00 PMUK
CPI (YoY)
% Change
Jul
2.60
11:30 AMGermany GDP nsa (YoY)
% Change
2Q P
2.90
Aug 16, 2017
2:30 PMEuro Zone Euro-Zone GDP s.a. (QoQ)
% Change
2Q P
0.60
6:00 PMUS
Housing Starts
Thousands
Jul
1,215.00
1,224.00
6:00 PMUS
Building permits
Thousands
Jul
1,275.00
1,245.00
2:00 PMUK
Jobless claims change
% Change
Jul
5.90
Source: Bloomberg, Angel Research
www.angelbroking.com
Market Outlook
August 10, 2017
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
5.7
5.7
10.0
6.0
8.8
9.1
5.2
4.9
4.9
9.0
7.9
8.0
7.9
5.0
7.6
7.5
8.0
7.3
7.2
3.8
7.0
4.0
7.0
6.1
6.1
3.0
2.8
3.0
2.6
6.0
1.9
1.7
5.0
2.0
4.0
1.0
3.0
-
Source: CSO, Angel Research
Source: MOSPI, Angel Research
Exhibit 3: Monthly CPI inflation trends
Exhibit 4: Manufacturing and services PMI
56.0
Mfg. PMI
Services PMI
(%)
7.0
54.0
6.1
6.0
52.0
5.1
5.0
50.0
4.3
4.2
3.9
3.6
3.7
4.0
3.4
48.0
3.2
3.0
3.0
46.0
2.2
2.0
1.5
44.0
1.0
42.0
40.0
-
Source: Market, Angel Research; Note: Level above 50 indicates expansion
Source: MOSPI, Angel Research
Exhibit 5: Exports and imports growth trends
Exhibit 6: Key policy rates
(%)
Exports yoy growth
Imports yoy growth
(%)
Repo rate
Reverse Repo rate
CRR
60.0
7.00
50.0
6.50
40.0
6.00
30.0
5.50
20.0
5.00
10.0
4.50
0.0
4.00
(10.0)
(20.0)
3.50
(30.0)
3.00
Source: Bloomberg, Angel Research
Source: RBI, Angel Research
www.angelbroking.com
Market Outlook
August 10, 2017
Global watch
Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries
(%)
8.0
6.9
7.0
5.6
6.0
5.3
5.0
1.0
5.0
4.0
3.3
2.9
3.0
2.1
0.5
1.7
1.8
2.0
1.3
1.0
-
(1.0)
(0.4)
Source: Bloomberg, Angel Research
Exhibit 2: 2016 GDP Growth projection by IMF (%, yoy) across select developing and developed countries
(%)
7.2
7.0
6.6
6.0
5.1
5.0
4.5
4.0
3.0
3.0
2.3
2.0
1.4
1.6
2.0
1.4
1.2
0.2
0.8
1.0
-
Source: IMF, Angel Research
Exhibit 3: One year forward P-E ratio across select developing and developed countries
(x)
25.0
20.0
15.0
10.0
5.0
-
Source: IMF, Angel Research
www.angelbroking.com
Market Outlook
August 10, 2017
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
67,671
7.4
0.5
17.4
Russia
Micex
1,976
2.6
(2.6)
1.2
India
Nifty
9,908
1.4
5.3
15.9
China
Shanghai Composite
3,276
2.4
7.4
10.1
South Africa
Top 40
49,573
8.5
4.2
9.2
Mexico
Mexbol
51,238
1.2
3.4
7.2
Indonesia
LQ45
969
0.1
2.8
6.2
Malaysia
KLCI
1,778
1.2
0.9
7.1
Thailand
SET 50
999
0.6
0.3
4.9
USA
Dow Jones
22,049
3.0
5.1
19.2
UK
FTSE
7,498
1.7
1.5
8.4
Japan
Nikkei
19,739
(1.0)
(0.8)
20.4
Germany
DAX
12,154
(2.3)
(4.7)
13.2
France
CAC
5,146
(0.4)
(4.4)
16.5
Source: Bloomberg, Angel Research
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Agri / Agri Chemical
Rallis
Reduce
238
209
4,619
1,937
2,164
13.3
14.3
9.0
11.0
26.4
21.6
4.6
4.0
18.4
19.8
2.4
2.1
United Phosphorus
Neutral
830
-
42,144
15,176
17,604
18.5
18.5
37.4
44.6
22.2
18.6
4.4
3.6
21.4
21.2
2.9
2.4
Auto & Auto Ancillary
Ashok Leyland
Accumulate
109
116
32,016
20,019
22,789
11.1
11.7
4.3
5.5
25.5
20.0
5.0
4.4
19.4
22.0
1.5
1.3
Bajaj Auto
Neutral
2,833
-
81,979
25,093
27,891
19.5
19.2
143.9
162.5
19.7
17.4
5.5
4.8
30.3
29.4
3.0
2.6
Bharat Forge
Neutral
1,168
-
27,188
7,726
8,713
20.5
21.2
35.3
42.7
33.1
27.4
6.1
5.5
18.9
20.1
3.6
3.1
Eicher Motors
Neutral
31,489
-
85,720
16,583
20,447
17.5
18.0
598.0
745.2
52.7
42.3
18.0
13.7
41.2
38.3
5.0
4.0
Gabriel India
Neutral
163
-
2,341
1,544
1,715
9.0
9.3
5.4
6.3
30.2
25.9
5.7
5.1
18.9
19.5
1.5
1.3
Hero Motocorp
Neutral
3,884
-
77,567
28,120
30,753
15.2
15.6
169.1
189.2
23.0
20.5
7.9
6.6
30.8
28.2
2.6
2.3
Jamna Auto Industries Neutral
273
-
2,176
1,486
1,620
9.8
9.9
15.0
17.2
18.2
15.9
4.0
3.4
21.8
21.3
1.5
1.4
L G Balakrishnan & Bros Neutral
723
-
1,134
1,302
1,432
11.6
11.9
43.7
53.0
16.5
13.6
2.3
2.1
13.8
14.2
1.0
0.9
Mahindra and Mahindra Neutral
1,391
-
86,419
46,534
53,077
11.6
11.7
67.3
78.1
20.7
17.8
3.4
2.9
15.4
15.8
1.8
1.6
Maruti
Accumulate
7,669
8,495
231,671
67,822
83,717
15.2
15.0
243.0
291.5
31.6
26.3
7.2
5.9
22.9
22.4
3.1
2.4
Minda Industries
Neutral
773
-
6,683
2,728
3,042
9.0
9.1
68.2
86.2
11.3
9.0
2.6
2.0
23.8
24.3
2.5
2.2
Motherson Sumi
Neutral
330
-
69,471
45,896
53,687
7.8
8.3
13.0
16.1
25.3
20.5
8.2
6.5
34.7
35.4
1.6
1.3
Rane Brake Lining
Neutral
1,231
-
974
511
562
11.3
11.5
28.1
30.9
43.8
39.8
6.7
6.1
15.3
15.0
2.0
1.9
Setco Automotive
Neutral
37
-
500
741
837
13.0
13.0
15.2
17.0
2.5
2.2
0.4
0.4
15.8
16.3
1.1
1.0
Tata Motors
Neutral
417
-
120,330
300,209
338,549
8.9
8.4
42.7
54.3
9.8
7.7
1.6
1.3
15.6
17.2
0.5
0.4
TVS Motor
Neutral
590
-
28,028
13,390
15,948
6.9
7.1
12.8
16.5
46.2
35.7
11.5
9.1
26.3
27.2
2.1
1.8
Amara Raja Batteries
Buy
802
962
13,707
5,339
6,220
15.9
15.3
28.0
32.3
28.6
24.8
5.5
4.6
19.1
18.5
2.6
2.2
Exide Industries
Neutral
207
-
17,612
7,439
8,307
15.0
15.0
8.1
9.3
25.6
22.3
3.6
3.2
14.3
16.7
2.0
1.8
Apollo Tyres
Neutral
270
-
13,756
12,877
14,504
14.3
13.9
21.4
23.0
12.6
11.8
2.0
1.7
16.4
15.2
1.2
1.1
Ceat
Neutral
1,688
-
6,829
7,524
8,624
13.0
12.7
131.1
144.3
12.9
11.7
2.4
2.0
19.8
18.6
1.0
0.9
JK Tyres
Neutral
156
-
3,537
7,455
8,056
15.0
15.0
21.8
24.5
7.2
6.4
1.5
1.2
22.8
21.3
0.6
0.5
Swaraj Engines
Neutral
2,030
-
2,521
660
810
15.2
16.4
54.5
72.8
37.3
27.9
11.6
10.5
31.5
39.2
3.6
2.9
Subros
Neutral
240
-
1,439
1,488
1,681
11.7
11.9
6.4
7.2
37.5
33.5
4.0
3.6
10.8
11.4
1.2
1.0
Indag Rubber
Neutral
187
-
490
286
326
19.8
16.8
11.7
13.3
16.0
14.0
2.7
2.5
17.8
17.1
1.4
1.2
Capital Goods
ACE
Neutral
62
-
618
709
814
4.1
4.6
1.4
2.1
44.6
29.7
1.8
1.7
4.4
6.0
1.0
0.9
BEML
Neutral
1,630
-
6,789
3,451
4,055
6.3
9.2
31.4
57.9
51.9
28.2
3.1
2.8
6.3
10.9
2.1
1.8
Bharat Electronics
Neutral
179
-
40,038
8,137
9,169
16.8
17.2
58.7
62.5
3.1
2.9
0.5
0.4
44.6
46.3
3.9
3.5
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Capital Goods
Voltas
Neutral
528
-
17,456
6,511
7,514
7.9
8.7
12.9
16.3
40.9
32.4
7.4
6.5
16.7
18.5
2.4
2.1
BGR Energy
Neutral
138
-
992
16,567
33,848
6.0
5.6
7.8
5.9
17.6
23.3
1.0
1.0
4.7
4.2
0.2
0.1
BHEL
Neutral
133
-
32,590
28,797
34,742
-
2.8
2.3
6.9
57.9
19.3
1.0
1.0
1.3
4.8
0.8
0.5
Blue Star
Accumulate
675
760
6,466
4,283
5,077
5.9
7.3
14.9
22.1
45.4
30.5
8.8
7.4
20.4
26.4
1.6
1.3
CG Power and Industrial
Neutral
76
-
4,782
5,777
6,120
5.9
7.0
3.3
4.5
23.1
17.0
1.0
1.0
4.4
5.9
0.8
0.7
Solutions
Greaves Cotton
Neutral
154
-
3,768
1,755
1,881
16.8
16.9
7.8
8.5
19.8
18.2
4.0
3.7
20.6
20.9
1.8
1.7
Inox Wind
Neutral
132
-
2,935
5,605
6,267
15.7
16.4
24.8
30.0
5.3
4.4
1.5
1.1
25.9
24.4
0.6
0.5
KEC International
Neutral
300
-
7,713
9,294
10,186
7.9
8.1
9.9
11.9
30.3
25.2
4.4
3.9
15.6
16.3
1.1
1.0
KEI Industries
Buy
220
258
1,711
2,633
3,001
10.4
10.0
12.7
13.0
17.3
16.9
3.7
3.1
21.4
18.2
0.8
0.8
Thermax
Neutral
877
-
10,448
5,421
5,940
7.3
7.3
25.7
30.2
34.1
29.0
4.1
3.8
12.2
13.1
1.8
1.7
VATech Wabag
Accumulate
630
681
3,436
3,136
3,845
8.9
9.1
26.0
35.9
24.2
17.5
3.0
2.6
13.4
15.9
1.0
0.8
Cement
ACC
Neutral
1,813
-
34,047
11,225
13,172
13.2
16.9
44.5
75.5
40.7
24.0
3.9
3.6
11.2
14.2
3.0
2.6
Ambuja Cements
Neutral
273
-
54,258
9,350
10,979
18.2
22.5
5.8
9.5
47.1
28.8
4.0
3.6
10.2
12.5
5.8
4.9
India Cements
Neutral
187
-
5,752
4,364
4,997
18.5
19.2
7.9
11.3
23.6
16.5
1.7
1.7
8.0
8.5
2.1
1.8
JK Cement
Neutral
1,026
-
7,171
4,398
5,173
15.5
17.5
31.2
55.5
32.9
18.5
4.0
3.4
12.0
15.5
2.2
1.8
J K Lakshmi Cement
Neutral
431
-
5,072
2,913
3,412
14.5
19.5
7.5
22.5
57.5
19.2
3.5
3.0
12.5
18.0
2.3
1.9
Orient Cement
Neutral
156
-
3,196
2,114
2,558
18.5
20.5
8.1
11.3
19.3
13.8
2.8
2.4
9.0
14.0
2.1
1.7
UltraTech Cement
Neutral
3,997
-
109,731
25,768
30,385
21.0
23.5
111.0
160.0
36.0
25.0
4.6
4.0
13.5
15.8
4.4
3.6
Construction
ITNL
Neutral
83
-
2,737
8,946
10,017
31.0
31.6
8.1
9.1
10.3
9.1
0.4
0.4
4.2
5.0
3.6
3.4
KNR Constructions
Neutral
203
-
2,856
1,385
1,673
14.7
14.0
41.2
48.5
4.9
4.2
0.9
0.8
14.9
15.2
2.1
1.8
Larsen & Toubro
Buy
1,156
1,700
161,874
111,017
124,908
11.0
11.0
61.1
66.7
18.9
17.3
2.3
2.1
13.1
12.9
2.5
2.3
Gujarat Pipavav Port
Neutral
139
-
6,710
705
788
52.2
51.7
5.0
5.6
27.8
24.8
2.7
2.5
11.2
11.2
9.2
7.7
Nagarjuna Const.
Neutral
90
-
4,984
8,842
9,775
9.1
8.8
5.3
6.4
16.9
14.0
1.3
1.2
8.2
9.1
0.7
0.6
PNC Infratech
Neutral
139
-
3,565
2,350
2,904
13.1
13.2
9.0
8.8
15.4
15.8
0.6
0.5
15.9
13.9
1.6
1.3
Simplex Infra
Neutral
467
-
2,313
6,829
7,954
10.5
10.5
31.4
37.4
14.9
12.5
1.5
1.4
9.9
13.4
0.8
0.6
Power Mech Projects
Neutral
558
-
820
1,801
2,219
12.7
14.6
72.1
113.9
7.7
4.9
1.4
1.2
16.8
11.9
0.5
0.3
Sadbhav Engineering
Neutral
289
-
4,954
3,598
4,140
10.3
10.6
9.0
11.9
32.1
24.3
3.4
3.0
9.9
11.9
1.7
1.4
NBCC
Neutral
208
-
18,707
7,428
9,549
7.9
8.6
8.2
11.0
25.4
18.9
1.3
1.0
28.2
28.7
2.2
1.7
MEP Infra
Neutral
120
-
1,944
1,877
1,943
30.6
29.8
3.0
4.2
39.9
28.5
19.3
13.0
0.6
0.6
2.4
2.2
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Construction
SIPL
Neutral
101
-
3,568
1,036
1,252
65.5
66.2
(8.4)
(5.6)
3.8
4.3
(22.8)
(15.9)
11.7
9.7
Engineers India
Neutral
155
-
10,459
1,725
1,935
16.0
19.1
11.4
13.9
13.6
11.2
1.9
1.8
13.4
15.3
5.0
4.5
Financials
Axis Bank
Buy
489
580
117,138
46,932
53,575
3.5
3.4
32.4
44.6
15.1
11.0
1.9
1.7
13.6
16.5
-
-
Bank of Baroda
Neutral
155
-
35,795
19,980
23,178
1.8
1.8
11.5
17.3
13.5
9.0
1.6
1.3
8.3
10.1
-
-
Canara Bank
Neutral
344
-
20,565
15,225
16,836
1.8
1.8
14.5
28.0
23.7
12.3
1.6
1.3
5.8
8.5
-
-
Can Fin Homes
Neutral
2,864
-
7,624
420
526
3.5
3.5
86.5
107.8
33.1
26.6
7.1
5.8
23.6
24.1
-
-
Cholamandalam Inv. &
Accumulate
1,171
1,230
18,302
2,012
2,317
6.3
6.3
42.7
53.6
27.4
21.9
4.3
3.7
16.9
18.3
-
-
Fin. Co.
Dewan Housing Finance Buy
428
550
13,415
2,225
2,688
2.9
2.9
29.7
34.6
14.4
12.4
2.3
1.5
16.1
14.8
-
-
Equitas Holdings
Buy
164
235
5,554
939
1,281
11.7
11.5
5.8
8.2
28.3
20.0
2.4
2.2
10.9
11.5
-
-
Federal Bank
Buy
109
140
21,082
8,259
8,995
3.0
3.0
4.3
5.6
25.2
19.4
2.1
2.0
8.5
10.1
-
-
HDFC
Neutral
1,731
-
275,802
11,475
13,450
3.4
3.4
45.3
52.5
38.2
33.0
7.4
6.5
20.2
20.5
-
-
HDFC Bank
Neutral
1,765
-
454,500
46,097
55,433
4.5
4.5
58.4
68.0
30.2
26.0
5.3
4.4
18.8
18.6
-
-
ICICI Bank
Buy
291
335
186,534
42,800
44,686
3.1
3.3
18.0
21.9
16.2
13.3
2.2
2.0
11.1
12.3
-
-
Karur Vysya Bank
Buy
136
160
8,207
5,640
6,030
3.3
3.2
8.9
10.0
15.3
13.6
1.6
1.5
11.2
11.4
-
-
Lakshmi Vilas Bank
Neutral
177
-
3,402
3,339
3,799
2.7
2.8
11.0
14.0
16.1
12.7
1.7
1.5
11.2
12.7
-
-
LIC Housing Finance
Neutral
678
-
34,221
3,712
4,293
2.6
2.5
39.0
46.0
17.4
14.7
3.3
2.8
19.9
20.1
-
-
Punjab Natl.Bank
Neutral
148
-
31,515
23,532
23,595
2.3
2.4
6.8
12.6
21.8
11.8
3.4
2.4
3.3
6.5
-
-
RBL Bank
Neutral
497
-
18,859
1,783
2,309
2.6
2.6
12.7
16.4
39.2
30.3
4.3
3.8
12.8
13.3
-
-
Repco Home Finance
Buy
675
825
4,222
388
457
4.5
4.2
30.0
38.0
22.5
17.8
3.8
3.1
18.0
19.2
-
-
South Ind.Bank
Neutral
28
-
4,995
6,435
7,578
2.5
2.5
2.7
3.1
10.3
8.9
1.3
1.1
10.1
11.2
-
-
St Bk of India
Accumulate
302
335
260,861
88,650
98,335
2.6
2.6
13.5
18.8
22.4
16.1
2.1
1.9
7.0
8.5
-
-
Union Bank
Neutral
142
-
9,744
13,450
14,925
2.3
2.3
25.5
34.5
5.6
4.1
0.8
0.7
7.5
10.2
-
-
Yes Bank
Neutral
1,741
-
79,690
8,978
11,281
3.3
3.4
74.0
90.0
23.5
19.4
4.5
3.8
17.0
17.2
-
-
FMCG
Akzo Nobel India
Neutral
1,802
-
8,643
2,955
3,309
13.3
13.7
57.2
69.3
31.5
26.0
10.3
8.7
32.7
33.3
2.7
2.4
Asian Paints
Neutral
1,155
-
110,811
17,128
18,978
16.8
16.4
19.1
20.7
60.5
55.8
21.0
19.9
34.8
35.5
6.4
5.8
Britannia
Neutral
4,061
-
48,754
9,594
11,011
14.6
14.9
80.3
94.0
50.6
43.2
20.8
16.1
41.2
-
4.9
4.3
Colgate
Neutral
1,056
-
28,712
4,605
5,149
23.4
23.4
23.8
26.9
44.4
39.2
24.6
19.2
64.8
66.8
6.2
5.5
Dabur India
Neutral
310
-
54,669
8,315
9,405
19.8
20.7
8.1
9.2
38.3
33.7
10.7
8.8
31.6
31.0
6.2
5.5
GlaxoSmith Con*
Neutral
5,400
-
22,712
4,350
4,823
21.2
21.4
179.2
196.5
30.1
27.5
8.0
6.8
27.1
26.8
4.6
4.1
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FMCG
Godrej Consumer
Neutral
922
-
62,834
10,235
11,428
18.4
18.6
41.1
44.2
22.4
20.9
5.0
4.2
24.9
24.8
6.2
5.5
HUL
Neutral
1,184
-
256,208
35,252
38,495
17.8
17.8
20.7
22.4
57.3
52.9
54.8
47.0
95.6
88.9
7.1
6.5
ITC
Neutral
273
-
331,653
40,059
44,439
38.3
39.2
9.0
10.1
30.4
26.9
8.5
7.4
27.8
27.5
7.8
7.0
Marico
Neutral
326
-
42,005
6,430
7,349
18.8
19.5
6.4
7.7
50.9
42.3
15.4
12.9
33.2
32.5
6.3
5.5
Nestle*
Neutral
6,730
-
64,883
10,073
11,807
20.7
21.5
124.8
154.2
53.9
43.6
22.1
19.9
34.8
36.7
6.3
5.3
Tata Global
Neutral
162
-
10,231
8,675
9,088
9.8
9.8
7.4
8.2
21.9
19.8
1.7
1.7
7.9
8.1
1.1
1.0
Procter & Gamble
Neutral
8,120
-
26,358
2,939
3,342
23.2
23.0
146.2
163.7
55.5
49.6
14.1
11.7
25.3
23.5
8.5
7.4
Hygiene
IT
HCL Tech^
Buy
878
1,014
125,347
46,723
52,342
22.1
20.9
60.0
62.8
14.6
14.0
3.7
3.1
25.3
22.4
2.4
2.1
Infosys
Buy
969
1,179
222,677
68,484
73,963
26.0
26.0
63.0
64.0
15.4
15.2
3.2
3.0
20.8
19.7
2.9
2.6
TCS
Accumulate
2,502
2,651
492,991
117,966
127,403
27.5
27.6
134.3
144.5
18.6
17.3
5.6
5.2
29.8
29.7
3.8
3.6
Tech Mahindra
Buy
393
533
38,389
29,141
31,051
14.4
15.0
32.3
35.6
12.2
11.1
2.1
1.9
17.1
17.0
1.2
1.0
Wipro
Neutral
287
-
139,544
55,421
58,536
20.3
20.3
35.1
36.5
8.2
7.9
1.4
1.2
19.2
14.6
1.9
1.7
Media
D B Corp
Neutral
377
-
6,936
2,297
2,590
27.4
28.2
21.0
23.4
18.0
16.1
4.2
3.6
23.7
23.1
2.8
2.4
HT Media
Neutral
84
-
1,957
2,693
2,991
12.6
12.9
7.9
9.0
10.7
9.3
0.9
0.8
7.8
8.3
0.3
0.2
Jagran Prakashan
Buy
178
225
5,832
2,283
2,555
28.0
28.0
10.6
12.3
16.8
14.6
3.6
3.1
21.4
21.4
2.6
2.3
Sun TV Network
Neutral
710
-
27,980
2,850
3,265
70.1
71.0
26.2
30.4
27.1
23.4
6.9
6.1
24.3
25.6
9.4
8.1
Hindustan Media
Neutral
269
-
1,971
1,016
1,138
24.3
25.2
27.3
30.1
9.8
8.9
1.9
1.7
16.2
15.8
1.3
1.1
Ventures
TV Today Network
Buy
229
344
1,363
608
667
21.5
22.3
15.7
19.2
14.6
11.9
2.2
1.9
16.1
16.0
1.8
1.6
Music Broadcast Limited Buy
345
434
1,968
271
317
91.0
109.0
6.0
10.0
57.5
34.5
3.6
3.3
6.5
9.3
6.9
5.6
Metals & Mining
Coal India
Neutral
243
-
150,561
84,638
94,297
21.4
22.3
24.5
27.1
9.9
9.0
4.1
3.9
42.6
46.0
1.3
1.2
Hind. Zinc
Neutral
286
-
121,013
14,252
18,465
55.9
48.3
15.8
21.5
18.1
13.3
3.0
2.6
17.0
20.7
8.5
6.6
Hindalco
Neutral
239
-
53,698
107,899
112,095
7.4
8.2
9.2
13.0
26.0
18.4
1.3
1.2
4.8
6.6
1.0
1.0
JSW Steel
Neutral
230
-
55,475
53,201
58,779
16.1
16.2
130.6
153.7
1.8
1.5
0.2
0.2
14.0
14.4
1.8
1.6
NMDC
Neutral
126
-
39,944
6,643
7,284
44.4
47.7
7.1
7.7
17.8
16.4
1.5
1.5
8.8
9.2
3.8
3.4
SAIL
Neutral
62
-
25,441
47,528
53,738
(0.7)
2.1
(1.9)
2.6
23.7
0.7
0.6
(1.6)
3.9
1.4
1.3
Vedanta
Neutral
300
-
111,590
71,744
81,944
19.2
21.7
13.4
20.1
22.4
14.9
1.9
1.7
8.4
11.3
1.9
1.6
Tata Steel
Neutral
605
-
58,759
121,374
121,856
7.2
8.4
18.6
34.3
32.5
17.6
2.0
1.9
6.1
10.1
1.1
1.1
Oil & Gas
GAIL
Neutral
381
-
64,422
56,220
65,198
9.3
10.1
27.1
33.3
14.1
11.4
1.3
1.2
9.3
10.7
1.3
1.1
ONGC
Neutral
166
-
212,454
137,222
152,563
15.0
21.8
19.5
24.1
8.5
6.9
0.7
0.7
8.5
10.1
1.8
1.6
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Oil & Gas
Indian Oil Corp
Neutral
414
-
201,059
373,359
428,656
5.9
5.5
54.0
59.3
7.7
7.0
1.2
1.1
16.0
15.6
0.7
0.6
Reliance Industries
Neutral
1,599
-
519,904
301,963
358,039
12.1
12.6
87.7
101.7
18.2
15.7
1.9
1.7
10.7
11.3
2.2
1.8
Pharmaceuticals
Alembic Pharma
Accumulate
523
600
9,860
3,101
3,966
19.7
20.5
21.4
25.5
24.4
20.5
5.2
4.2
23.0
22.8
3.1
2.3
Alkem Laboratories Ltd
Buy
1,784
2,161
21,332
5,853
6,901
17.1
18.4
74.6
85.0
23.9
21.0
5.0
4.2
21.1
20.2
3.6
3.1
Aurobindo Pharma
Buy
684
823
40,083
14,845
17,086
21.5
22.1
39.4
44.7
17.4
15.3
4.3
3.4
27.6
24.7
2.9
2.5
Aventis*
Neutral
4,150
-
9,558
2,206
2,508
16.6
16.8
128.9
139.9
32.2
29.7
5.5
4.3
21.6
23.5
4.1
3.4
Cadila Healthcare
Reduce
484
450
49,508
9,220
11,584
18.4
20.3
14.5
18.7
33.4
25.9
7.1
5.8
23.5
24.6
5.7
4.3
Cipla
Sell
562
461
45,215
14,281
16,619
15.4
16.2
12.5
19.7
45.0
28.5
3.6
3.2
8.4
12.0
3.3
2.8
Dr Reddy's
Neutral
2,047
-
33,924
14,081
15,937
16.1
18.6
72.6
105.9
28.2
19.3
2.8
2.5
9.6
13.6
2.6
2.3
Dishman Pharma
Sell
143
1,718
1,890
22.7
22.8
9.5
11.3
10.1
10.9
3.3
2.9
GSK Pharma*
Neutral
2,382
-
20,174
2,927
3,290
11.8
16.2
34.4
49.6
69.2
48.0
10.1
10.5
13.9
21.3
6.7
6.0
Indoco Remedies
Sell
189
153
1,737
1,067
1,154
12.1
14.9
8.4
11.3
22.5
16.7
2.7
2.4
12.6
15.0
1.8
1.7
Ipca labs
Buy
437
620
5,511
3,211
3,593
13.9
14.5
15.4
19.4
28.4
22.5
2.2
2.1
8.2
9.5
1.8
1.6
Lupin
Buy
953
1,467
43,070
17,120
18,657
24.1
24.1
56.9
61.1
16.8
15.6
3.2
2.7
20.7
18.6
2.8
2.2
Natco Pharma
Buy
831
1,060
14,478
2,065
1,988
33.1
33.7
27.9
25.7
29.8
32.3
8.7
7.4
29.2
22.9
7.1
7.1
Sun Pharma
Buy
475
712
113,904
30,264
32,899
29.0
26.9
32.7
31.6
14.5
15.0
3.1
2.7
22.2
18.7
3.5
3.1
Power
Tata Power
Neutral
78
-
21,043
36,916
39,557
17.4
27.1
5.1
6.3
15.3
12.4
1.3
1.2
9.0
10.3
1.6
1.4
NTPC
Neutral
174
-
143,100
86,605
95,545
17.5
20.8
11.8
13.4
14.7
13.0
1.5
1.4
10.5
11.1
3.0
3.0
Power Grid
Neutral
222
-
116,089
25,315
29,193
88.2
88.7
14.2
17.2
15.7
12.9
2.4
2.1
15.2
16.1
9.2
8.3
Real Estate
Prestige Estate
Neutral
263
-
9,879
4,707
5,105
25.2
26.0
10.3
13.0
25.6
20.3
2.1
1.9
10.3
10.2
3.3
2.9
MLIFE
Buy
420
522
2,155
1,152
1,300
22.7
24.6
29.9
35.8
14.0
11.7
1.0
1.0
7.6
8.6
2.6
2.2
Telecom
Bharti Airtel
Neutral
417
-
166,532
105,086
114,808
34.5
34.7
12.2
16.4
34.2
25.4
2.3
2.2
6.8
8.4
2.5
2.2
Idea Cellular
Neutral
91
-
32,838
40,133
43,731
37.2
37.1
6.4
6.5
14.2
14.0
1.2
1.1
8.2
7.6
1.8
1.6
zOthers
Abbott India
Neutral
4,407
-
9,365
3,153
3,583
14.1
14.4
152.2
182.7
29.0
24.1
142.2
121.4
25.6
26.1
2.7
2.3
Asian Granito
Buy
409
480
1,231
1,066
1,169
11.6
12.5
13.0
16.0
31.5
25.6
3.1
2.7
9.5
10.7
1.5
1.3
Bajaj Electricals
Buy
320
395
3,249
4,801
5,351
5.7
6.2
10.4
13.7
30.7
23.4
3.8
3.4
12.4
14.5
0.7
0.6
Banco Products (India)
Neutral
221
-
1,583
1,353
1,471
12.3
12.4
14.5
16.3
15.3
13.6
21.1
19.0
14.5
14.6
1.1
119.3
Coffee Day Enterprises
Neutral
242
-
4,987
2,964
3,260
20.5
21.2
4.7
8.0
-
30.3
2.8
2.6
5.5
8.5
2.1
1.9
Ltd
Competent Automobiles Neutral
205
-
132
1,137
1,256
3.1
2.7
28.0
23.6
7.3
8.7
39.5
35.7
14.3
11.5
0.1
0.1
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
zOthers
Elecon Engineering
Neutral
47
-
526
1,482
1,660
13.7
14.5
3.9
5.8
12.0
8.1
2.8
2.6
7.8
10.9
0.7
0.6
Finolex Cables
Neutral
491
-
7,505
2,883
3,115
12.0
12.1
14.2
18.6
34.6
26.4
18.4
16.1
15.8
14.6
2.3
2.1
Garware Wall Ropes
Neutral
873
-
1,910
863
928
15.1
15.2
36.4
39.4
24.0
22.2
4.3
3.7
17.5
15.9
2.1
2.0
Goodyear India*
Neutral
841
-
1,939
1,598
1,704
10.4
10.2
49.4
52.6
17.0
16.0
78.6
68.9
18.2
17.0
0.9
127.5
Hitachi
Neutral
1,974
-
5,367
2,081
2,433
8.8
8.9
33.4
39.9
59.1
49.5
47.7
39.7
22.1
21.4
2.6
2.2
HSIL
Neutral
353
-
2,549
2,384
2,515
15.8
16.3
15.3
19.4
23.0
18.2
22.9
19.7
7.8
9.3
1.2
1.1
Interglobe Aviation
Neutral
1,303
-
47,140
21,122
26,005
14.5
27.6
110.7
132.1
11.8
9.9
70.5
50.3
168.5
201.1
2.2
1.8
Jyothy Laboratories
Neutral
375
-
6,821
1,440
2,052
11.5
13.0
8.5
10.0
44.2
37.6
10.7
9.9
18.6
19.3
5.0
3.5
Kirloskar Engines India
Neutral
392
-
5,670
2,554
2,800
9.9
10.0
10.5
12.1
37.3
32.4
15.6
14.7
10.7
11.7
1.9
1.7
Ltd
Linc Pen & Plastics
Neutral
257
-
379
382
420
9.3
9.5
13.5
15.7
19.0
16.3
3.3
2.8
17.1
17.3
1.1
0.9
M M Forgings
Neutral
575
-
694
546
608
20.4
20.7
41.3
48.7
13.9
11.8
78.7
69.7
16.6
17.0
1.1
1.0
Manpasand Bever.
Neutral
763
-
4,367
836
1,087
19.6
19.4
16.9
23.8
45.2
32.1
5.4
4.7
12.0
14.8
5.0
3.7
Mirza International
Neutral
158
-
1,905
963
1,069
17.2
18.0
6.1
7.5
25.8
21.1
4.0
3.4
15.0
15.7
2.2
2.0
MT Educare
Neutral
63
-
251
366
417
17.7
18.2
9.4
10.8
6.7
5.8
1.5
1.3
22.2
22.3
0.6
0.5
Narayana Hrudaya
Neutral
300
-
6,121
1,873
2,166
11.5
11.7
2.6
4.0
113.2
75.5
7.0
6.3
6.1
8.3
3.4
2.9
Navkar Corporation
Buy
189
265
2,695
347
371
43.2
37.3
6.7
6.0
28.3
31.5
2.0
1.7
6.2
10.6
8.9
8.3
Navneet Education
Neutral
159
-
3,717
1,062
1,147
24.0
24.0
6.1
6.6
26.1
24.0
5.4
4.8
20.6
19.8
3.6
3.3
Nilkamal
Neutral
1,625
-
2,425
1,995
2,165
10.7
10.4
69.8
80.6
23.3
20.2
92.9
80.7
16.6
16.5
1.2
1.1
Page Industries
Neutral
16,679
-
18,603
2,450
3,124
20.1
17.6
299.0
310.0
55.8
53.8
371.5
283.6
47.1
87.5
7.6
6.0
Parag Milk Foods
Neutral
241
-
2,026
1,919
2,231
9.3
9.6
9.5
12.9
25.5
18.6
4.0
3.3
15.5
17.5
1.2
1.0
Quick Heal
Neutral
205
-
1,441
408
495
27.3
27.0
7.7
8.8
26.5
23.4
2.5
2.5
9.3
10.6
2.7
2.2
Radico Khaitan
Neutral
146
-
1,948
1,667
1,824
13.0
13.2
6.7
8.2
22.0
17.9
2.0
1.8
9.0
10.2
1.6
1.4
Relaxo Footwears
Neutral
492
-
5,906
2,085
2,469
9.2
8.2
7.6
8.0
65.0
61.9
25.2
21.5
17.9
18.8
2.9
2.5
S H Kelkar & Co.
Neutral
257
-
3,720
1,036
1,160
15.1
15.0
6.1
7.2
42.1
35.8
4.5
4.1
10.7
11.5
3.5
3.1
Siyaram Silk Mills
Buy
1,996
2,500
1,871
1,574
1,769
12.5
12.7
97.1
113.1
20.6
17.6
3.2
2.7
15.4
15.5
1.4
1.2
Styrolution ABS India*
Neutral
954
-
1,678
1,440
1,537
9.2
9.0
40.6
42.6
23.5
22.4
60.0
54.6
12.3
11.6
1.1
1.0
Surya Roshni
Neutral
271
-
1,189
3,342
3,625
7.8
7.5
17.3
19.8
15.7
13.7
29.8
23.9
10.5
10.8
0.6
0.6
Team Lease Serv.
Neutral
1,432
-
2,448
3,229
4,001
1.5
1.8
22.8
32.8
62.9
43.6
6.7
5.8
10.7
13.4
0.7
0.5
The Byke Hospitality
Neutral
196
-
786
287
384
20.5
20.5
7.6
10.7
25.8
18.3
5.4
4.4
20.7
23.5
2.8
2.1
www.angelbroking.com
Stock Watch
August 10, 2017
Company Name
Reco
CMP
Target Mkt Cap
Sales ( Čcr )
OPM(%)
EPS (Č)
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
(Č)
Price ( Č)
( Č cr )
FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E
zOthers
Transport Corporation of
Neutral
280
-
2,140
2,671
2,911
8.5
8.8
13.9
15.7
20.2
17.9
2.8
2.5
13.7
13.8
0.9
0.8
India
TVS Srichakra
Neutral
3,425
-
2,622
2,304
2,614
13.7
13.8
231.1
266.6
14.8
12.9
384.8
303.0
33.9
29.3
1.1
1.0
UFO Moviez
Neutral
354
-
978
619
685
33.2
33.4
30.0
34.9
11.8
10.2
1.6
1.4
13.8
13.9
1.3
1.0
Visaka Industries
Neutral
460
-
730
1,051
1,138
10.3
10.4
21.0
23.1
21.9
19.9
59.0
55.2
9.0
9.2
1.0
0.9
VRL Logistics
Neutral
332
-
3,026
1,902
2,119
16.7
16.6
14.6
16.8
22.8
19.7
5.0
4.4
21.9
22.2
1.7
1.5
VIP Industries
Accumulate
190
218
2,686
1,270
1,450
10.4
10.4
5.6
6.5
33.9
29.2
7.0
6.1
20.7
21.1
2.1
1.8
Navin Fluorine
Accumulate
687
730
3,386
789
945
21.1
22.4
24.0
28.7
28.6
24.0
4.6
4.0
17.8
18.5
4.2
3.4
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on August 09, 2017
www.angelbroking.com
Market Outlook
August 10, 2017
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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