Market Outlook
July 05, 2016
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
Indian markets are expected to open in red tracking SGX Nifty.
BSE Sensex
0.5
134
27,279
Nifty
0.5
42
8,371
Financial and commodities markets in United States were closed for the July 4 public
holiday.
Mid Cap
0.6
69
11,927
Small Cap
1.0
120
12,006
Post-Brexit recovery across European markets sputtered to a halt on Monday with
Bankex
0.6
123
20,742
major equity indices lower and safe-haven demand for precious metals helping the
price of silver surge to near a two-year high.
Global Indices
Chg (%)
(Pts)
(Close)
Equity benchmarks as well as broader markets gained for 6th consecutive day on
Monday following upside in its Asian peers, though there was some profit booking
Dow Jones
0.1
19
17,949
seen in the last hour of trade. Index heavyweights like ICICI Bank, Tata Motors,
Nasdaq
0.4
20
4,863
Infosys, Reliance Industries and L&T led the charge.
FTSE
(0.8)
(56)
6,522
News Analysis
Nikkei
0.6
93
15,776
Hang Seng
1.3
265
21,059
Tata Steel Q1 hot metal output up 17% at 3MT
Housing sales up 7% in Jan-June in 8 cities
Shanghai Com
1.9
56
2,989
Detailed analysis on Pg2
Advances / Declines
BSE
NSE
Investor’s Ready Reckoner
Advances
1,718
1,071
Key Domestic & Global Indicators
Declines
1,037
521
Stock Watch: Latest investment recommendations on 150+ stocks
Unchanged
147
85
Refer Pg6 onwards
Top Picks
Volumes (` Cr)
CMP
Target
Upside
Company
Sector
Rating
(`)
(`)
(%)
BSE
3,012
Amara Raja
Auto/Auto Ancillary
Buy
865
1,076
24.4
NSE
17,750
HCL Tech
IT
Buy
746
1,000
34.0
LIC Housing
Financials
Buy
501
592
18.2
Net Inflows (` Cr)
Net
Mtd
Ytd
Bharat Electronics
Capital Goods
Accumulate
1,275
1,414
10.9
FII
(263)
(263)
19,280
Navkar Corporation Others
Buy
214
265
24.0
MFs
31
31
9,375
More Top Picks on Pg3
Key Upcoming Events
Top Gainers
Price (`)
Chg (%)
Previous
Consensus
Date
Region
Event Description
Albk
75
8.5
Reading
Expectations
July 05 Germany
PMI Services
53.2
53.2
Manappuram
78
8.1
July 07 US
Intial Jobless claims
268.0
267.0
Pnb
113
7.1
July 08 UK
Industrial Production(YoY)
1.6
0.5
Fsl
50
7.1
July 10 India
Imports YoY %
-13.2
--
Indianb
152
7.1
6.(
More Events on Pg4
Top Losers
Price (`)
Chg (%)
Coromandel
251
(6.2)
Eidparry
251
(4.1)
Itc
245
(3.0)
Feldvr
18
(2.5)
Alstomt&D
353
(2.1)
As on July 04, 2016
www.angelbroking.com
Market Outlook
July 05, 2016
Tata Steel Q1 hot metal output up 17% at 3MT
Tata Steel reported 17% yoy increase in its hot steel production to 3.01mntn (MT)
in 1QFY2017. For the same time, its crude steel production rose 7.69% to 2.52MT
from 2.34MT year ago.
Saleable steel production grew 5.85% to 2.35MT in 1QFY2017, compared with
2.22MT in 1QFY2016. The company has also said that it achieved its best ever
Automative steel sales of 379KT, as against 334KT in 1QFY2016. The provisional
data points out to best hi-end steel sales (high-tensile cold rolled, galvannealed
and skin) of 76.4KT sales in Q1 FY 17 (previous best 70.5KT in Q1FY16).
Given the improvement in provisional sales volume numbers for 1QFY2017, we
expect the company to report better set of top-line numbers. Uncertainties looming
over sale of International assets, could be impacted due to global events, hence,
we maintain our Neutral view on Tata Steel.
Housing sales up 7% in Jan-June in 8 cities
As per Real Estate Consultant, Knight Frank India housing sales grew 7% yoy in
Top 8 cities (Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, Pune
and Ahmedabad) at 1.35 lakh units during 1HCY16, leading to decline in unsold
inventories. Notably, prices have remained stable or not risen substantially in the
8 cities, barring Delhi NCR which has experienced price reduction.
New launches dropped to 3-year low at 1,07,120 units in 1HCY16 from 1,17,200
units year-ago. Rise in sales and decline in new launches, led to fall in unsold
inventory by 7% to 6.6lakh units from 7.1lakh units in year ago period.
The report highlights that amongst the Top 8 Cities, Bengaluru and Pune continue
to be best performing markets and NCR the worst. Also, Bengaluru is the only city
where price growth in last 3 years is more than the retail inflation.
The report highlights that Delhi-NCR recorded 7.6% yoy decline in sales to 23,092
units in 1HCY16 (v/s 25,000 units in 1HCY15). New launches declined 40.7% yoy
to 17,462 units from 29,458 units during the same period under review. Weighted
avg. price in Delhi-NCR declined 3.7% yoy to `4,346/sq.ft from `4,511/sq.ft.
Developers in NCR finally gave in to price resistance. Prices registered 4% yoy
decline in 1HCY16 and have corrected to 2013 levels. Currently, Delhi-NCR has
2lakh unsold units.
We sense Housing market is showing early signs of recovery considering the
7% yoy increase in sales (for 1HFY16), decline in the new launches and fall in the
number of unsold stocks. Low interest rates, good monsoons could further propel
growth in the Real Estate markets.
Within Real Estate coverage universe, we have BUY rating on Mahindra Lifespace
(MLIFE) with price target of `554.
www.angelbroking.com
Market Outlook
July 05, 2016
Economic and Political News
Telcos to shell out `1lakh cr for spectrum over next 2 yrs
New mineral policy eyes at enhancing mining sector's share in GDP to 6%
Power output growth up at 9.5% in 2016 so far: Piyush Goyal
Corporate News
UltraTech, Jaypee revise cement deal to `16,200cr
NCC Limited targets `12,000cr worth of fresh orders in FY17
RIL gets green nod for `800cr drilling project in TN
TVS Motor gets favourable interim order on dispute against Bajaj Auto
www.angelbroking.com
Market Outlook
July 05, 2016
Top Picks
Large Cap
M
arket Cap
CM
P
T
arget
Upsid
e
Company
Rationale
(` Cr)
(`)
(`)
(%)
To outpace battery industry growth due to better technological
Amara Raja Batteries
14,773
865
1,076
24.4
products leading to market share gains in both the automotive
OEM and replacement segments.
Uptick in defense capex by government, coupled with BELs
Bharat Electronics
30,588
1,275
1,414
10.9
strong market positioning, indicate good times ahead for BEL.
HCL Tech
1,05,285
746
1,000
34.0
Stock is trading at attractive valuations & factors all bad news.
Strong visibility for a robust 20% earnings trajectory, coupled
HDFC Bank
2,96,593
1,172
1,262
7.7
with high quality of earnings on account of high quality retail
business and strategic focus on highly rated corporates.
Back on the growth trend, expect a long term growth of 14% to
Infosys
2,72,016
1,184
1,374
16.0
be a US$20bn in FY2020.
Continues to grow its retail loan book at healthy pace with
LIC Housing Finance
25,261
501
592
18.2
improvement in asset quality. Expect LICHF to post a healthy
loan book which is likely to reflect in a strong earnings growth.
Huge bid pipeline of re-development works at Delhi and other
NBCC
11,604
193
220
13.8
State Governments and opportunity from Smart City, positions
NBCC to report strong growth, going forward.
Strong market positioning within the domestic AC markets to
Voltas
10,621
321
407
26.8
continue, EMP business set to revive
Source: Company, Angel Research
Mid Cap
M
arket Cap
CM
P
T
arget
Upsid
e
Company
Rationale
(` Cr)
(`)
(`)
(%)
Among the top 4 players in the consumer durables segment.
Bajaj Electricals
2,489
246
268
8.8
Improved profitability backed by turn around in E&P segment.
Strong order book lends earnings visibility.
Favourable outlook for AC industry to augur well for Cooling
Blue Star
3,933
437
495
13.2
products business. EMPPAC division's profitability to improve
once operating environment turns around.
With a focus on the low and medium income (LMI) consumer
Dewan Housing
6,182
212
270
27.4
segment, the company has increased its presence in tier-II & III
cities where the growth opportunity is immense.
Strong loan growth backed by diversified loan portfolio and
Equitas Holdings
6,330
189
235
24.5
adequate CAR. ROE & ROA likely to remain decent as risk of
dilution remains low. Attractive valuations considering growth.
Commencement of new projects, downtrend in the interest rate
IL&FS Transport
2,725
83
93
12.3
cycle, to lead to stock re-rating
Economic recovery to have favourable impact on advertising &
circulation revenue growth. Further, the acquisition of a radio
Jagran Prakashan
5,829
178
205
15.0
business (Radio City) would also boost the company's revenue
growth.
Speedier execution and speedier sales, strong revenue visibility
Mahindra Lifespace
1,907
465
554
19.2
in short-to-long run, attractive valuations
Massive capacity expansion along with rail advantage at ICD
Navkar Corporation
3,048
214
265
24.0
as well CFS augurs well for the company
Earnings boost on back of stable material prices and
Radico Khaitan
1,250
94
125
33.0
favourable pricing environment. Valuation discount to peers
provides additional comfort
Strong brands and distribution network would boost growth
Siyaram Silk Mills
1,031
1,100
1,347
22.5
going ahead. Stock currently trades at an inexpensive
valuation.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
July 5, 2016
Key Upcoming Events
Global economic events release calendar
Bloomberg Data
Date
Time
Country
Event Description
Unit
Period
Last Reported
Estimated
Jul 05, 2016
1:25 PM Germany PMI Services
Value
Jun F
53.20
53.20
Jul 07, 2016
6:00 PM
US Initial Jobless claims
Thousands
Jul 2
268.00
267.00
6:00 PM
US Change in Nonfarm payrolls
Thousands
Jun
38.00
175.00
Jul 08, 2016
2:00 PM
UK Industrial Production (YoY)
% Change
May
1.60
0.50
6:00 PM
US Unnemployment rate
%
Jun
4.70
4.80
Jul 10, 2016
India Imports YoY%
% Change
Jun
-13.20
July 12, 2016
7:00 AM
China Consumer Price Index (YoY)
% Change
Jun
2.00
7:12 PM
July 13, 2016
5:30 PM
India
Industrial Production YoY
% Change
May
-0.80
India
Exports YoY%
% Change
Jun
-0.80
China Exports YoY%
% Change
Jun
-4.10
(4.30)
Jul 14, 2016
4:30 PM
UK BOE Announces rates
% Ratio
Jul 14
0.50
US Producer Price Index (mom)
% Change
Jun
0.50
12:00 PM India Monthly Wholesale Prices YoY%
% Change
Jun
0.79
Jul 15, 2016
2:30 PM Euro Zone Euro-Zone CPI (YoY)
%
Jun F
0.10
6:00 PM
US Consumer price index (mom)
% Change
Jun
0.20
0.30
6:45 PM
US Industrial Production
%
Jun
(0.42)
0.10
7:30 AM China Industrial Production (YoY)
% Change
Jun
6.00
5.90
6:00 PM
US Housing Starts
Thousands
Jun
1,164.00
Jul 19, 2016
7:30 AM China Real GDP (YoY)
% Change
2Q
6.70
6.60
Source: Bloomberg, Angel Research
www.angelbroking.com
www.angelbroking.com
Market Outlook
July 05, 2016
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
9.0
12.0
8.3
9.9
7.8
7.7
7.9
10.0
8.0
7.5
7.6
7.2
8.0
6.3
6.7
6.6
6.7
7.0
6.4
6.0
4.2
4.3
3.7
5.8
4.0
6.0
2.0
2.0
0.3
5.0
-
4.0
(2.0)
(0.9)
(0.8)
(1.6)
(4.0)
3.0
(3.4)
(6.0)
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
5.6
5.7
5.8
5.4
5.4
5.5
6.0
5.3
5.0
4.8
52.0
5.0
4.4
3.7
3.7
4.0
50.0
3.0
48.0
2.0
46.0
1.0
-
44.0
Source: MOSPI, Angel Research
Source: Market, Angel Research; Note: Level above 50 indicates expansion
Exhibit 5: Exports and imports growth trends
Exhibit 6: Key policy rates
(%)
Exports yoy growth
Imports yoy growth
(%)
Repo rate
Reverse Repo rate
CRR
0.0
7.50
(5.0)
7.00
6.50
(10.0)
6.00
(15.0)
5.50
(20.0)
5.00
4.50
(25.0)
4.00
(30.0)
3.50
(35.0)
3.00
Source: Bloomberg, Angel Research
Source: RBI, Angel Research
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Market Outlook
July 05, 2016
Global watch
Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries
(%)
8.0
6.7
6.0
5.3
4.9
4.2
4.0
3.2
2.1
2.0
2.0
1.3
1.3
0.1
-
(2.0)
(4.0)
(1.2)
(6.0)
(0.2)
(5.4)
(8.0)
Source: Bloomberg, Angel Research
Exhibit 2: 2016 GDP Growth projection by IMF (%, yoy) across select developing and developed countries
(%)
10.0
7.5
8.0
6.5
6.0
4.9
4.4
4.0
3.0
2.4
1.9
1.5
2.0
1.1
0.6
0.5
(3.8)
(1.8)
-
(2.0)
(4.0)
(6.0)
Source: IMF, Angel Research
Exhibit 3: One year forward P-E ratio across select developing and developed countries
(x)
20.0
18.0
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
-
Source: IMF, Angel Research
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Market Outlook
July 05, 2016
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
52,569
5.4
4.0
(2.7)
Russia
Micex
1,907
0.8
2.1
16.2
India
Nifty
8,371
1.8
8.2
0.6
China
Shanghai Composite
2,989
3.3
0.2
(33.6)
South Africa
Top 40
46,027
(3.1)
(0.2)
(1.3)
Mexico
Mexbol
46,201
1.5
2.2
3.1
Indonesia
LQ45
851
2.5
1.2
0.5
Malaysia
KLCI
1,655
1.7
(3.3)
(3.3)
Thailand
SET 50
919
1.7
0.5
(7.0)
USA
Dow Jones
17,949
0.9
0.9
1.5
UK
FTSE
6,522
5.4
6.1
1.4
Japan
Nikkei
15,776
(4.8)
(6.5)
(24.4)
Germany
DAX
9,709
(4.9)
(1.2)
(9.7)
France
CAC
4,235
(5.2)
(0.4)
(15.3)
Source: Bloomberg, Angel Research
www.angelbroking.com
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Stock Watch
July 05, 2016
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 )
FY16E FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
Agri / Agri Chemical
Rallis
Neutral
218
-
4,234
1,612
1,911
13.3
13.3
7.4
9.5
29.4
22.9
4.7
4.2
16.7
18.4
2.7
2.3
United Phosphorus
Buy
556
684
23,818
13,083
15,176
18.5
18.5
31.5
37.4
17.6
14.9
3.5
2.9
21.4
21.4
2.0
1.7
Auto & Auto Ancillary
Ashok Leyland
Accumulate
98
111
27,833
17,995
21,544
11.4
11.6
3.4
4.7
28.8
20.8
5.0
4.6
17.7
22.2
1.5
1.2
Bajaj Auto
Neutral
2,651
-
76,707
22,709
25,860
20.9
20.1
129.0
143.6
20.6
18.5
6.3
5.4
30.7
29.4
2.9
2.5
Bharat Forge
Accumulate
777
875
18,094
7,351
8,318
19.9
19.7
31.2
36.5
24.9
21.3
4.5
3.8
19.3
19.2
2.6
2.2
Eicher Motors
Neutral
19,492
-
52,943
15,556
16,747
15.5
17.3
464.8
597.5
41.9
32.6
15.3
11.3
36.2
34.3
3.3
3.0
Gabriel India
Accumulate
94
101
1,345
1,415
1,544
8.7
9.0
4.6
5.4
20.4
17.3
3.7
3.3
18.1
18.9
0.9
0.8
Hero Motocorp
Neutral
3,162
-
63,136
28,244
30,532
15.5
15.9
156.7
168.5
20.2
18.8
8.1
6.8
39.9
36.4
2.1
1.9
Jamna Auto Industries Neutral
174
-
1,387
1,281
1,473
11.2
11.5
7.6
9.2
22.9
18.9
5.8
4.7
25.4
25.2
1.1
1.0
L G Balakrishnan & Bros Neutral
475
-
746
1,254
1,394
11.6
11.8
35.9
41.7
13.2
11.4
1.8
1.6
13.5
13.8
0.7
0.6
Mahindra and Mahindra Neutral
1,466
-
91,024
38,416
42,904
13.7
13.9
54.8
63.4
26.7
23.1
4.1
3.7
15.4
15.8
2.0
1.8
Maruti
Neutral
4,171
-
125,983
57,865
68,104
16.4
16.7
176.3
225.5
23.7
18.5
4.6
3.9
19.4
21.2
2.0
1.6
Minda Industries
Neutral
1,165
-
1,848
2,523
2,890
8.7
9.0
55.0
65.4
21.2
17.8
4.1
3.3
19.3
18.7
0.8
0.7
Motherson Sumi
Accumulate
290
313
38,373
39,343
45,100
8.8
9.1
10.1
12.5
28.7
23.2
9.1
7.1
35.3
34.4
1.0
0.9
Rane Brake Lining
Buy
416
465
329
454
511
11.5
12.0
25.2
31.0
16.5
13.4
2.5
2.2
14.9
16.6
0.8
0.8
Setco Automotive
Neutral
51
-
685
594
741
12.7
13.7
1.7
3.2
30.2
16.0
3.2
2.7
10.4
16.9
1.6
1.3
Tata Motors
Neutral
469
-
135,381
259,686
273,957
13.0
13.4
25.9
29.5
18.1
15.9
2.4
2.1
8.0
9.0
0.7
0.7
TVS Motor
Accumulate
313
330
14,865
11,263
13,122
6.9
8.5
9.2
15.0
34.0
20.9
7.8
6.2
22.7
29.6
1.3
1.1
Amara Raja Batteries
Buy
865
1,076
14,773
4,690
5,429
17.5
17.5
28.5
35.3
30.4
24.5
7.0
5.8
23.1
25.9
3.1
2.7
Exide Industries
Neutral
175
-
14,879
6,950
7,784
14.4
14.8
6.6
7.3
26.5
24.0
3.4
3.1
12.6
12.8
1.9
1.7
Apollo Tyres
Buy
157
183
7,984
12,056
12,714
17.2
16.4
23.0
20.3
6.8
7.7
1.2
1.1
17.7
13.6
0.7
0.7
Ceat
Buy
883
1,119
3,574
6,041
6,597
14.1
13.7
99.5
111.9
8.9
7.9
1.7
1.5
19.6
18.5
0.7
0.6
JK Tyres
Neutral
92
-
2,084
7,446
7,669
15.2
14.0
19.6
18.4
4.7
5.0
1.2
1.0
25.2
19.5
0.7
0.6
Swaraj Engines
Neutral
1,238
-
1,538
552
630
14.2
14.7
44.6
54.1
27.8
22.9
6.5
5.9
23.2
25.6
2.6
2.3
Subros
Neutral
93
-
559
1,293
1,527
11.8
11.9
4.2
6.7
22.2
13.9
1.7
1.5
7.7
11.5
0.8
0.6
Indag Rubber
Neutral
194
-
508
283
329
17.0
17.2
13.0
15.4
15.0
12.6
3.3
2.7
21.8
21.6
1.5
1.3
Capital Goods
ACE
Neutral
46
-
457
660
839
4.7
8.2
1.0
3.9
46.2
11.8
1.4
1.3
3.2
11.3
0.8
0.7
BEML
Buy
898
1,157
3,739
3,277
4,006
6.0
8.9
36.2
64.3
24.8
14.0
1.7
1.6
5.7
11.7
1.2
1.0
Bharat Electronics
Accumulate
1,275
1,414
30,588
7,295
8,137
20.0
16.8
56.5
58.7
22.6
21.7
3.4
3.0
42.1
44.6
3.4
2.9
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
Capital Goods
Voltas
Buy
321
407
10,621
5,857
6,511
7.5
7.9
11.7
12.9
27.4
24.9
4.5
3.9
17.1
16.7
1.8
1.6
BGR Energy
Neutral
118
-
849
3,615
3,181
9.5
9.4
16.7
12.4
7.0
9.5
0.7
0.7
10.0
7.0
0.6
0.8
BHEL
Neutral
138
-
33,789
33,722
35,272
10.8
11.7
10.5
14.2
13.2
9.7
1.0
0.9
7.0
9.0
1.1
1.0
Blue Star
Accumulate
437
495
3,933
3,770
4,351
5.7
6.4
11.4
17.2
38.3
25.5
5.9
5.5
18.4
23.1
1.1
0.9
Crompton Greaves
Neutral
74
-
4,616
13,484
14,687
4.9
6.2
4.5
7.1
16.4
10.4
1.2
1.1
7.2
10.8
0.5
0.4
Greaves Cotton
Neutral
139
-
3,393
1,655
1,755
16.6
16.8
7.4
7.8
18.8
17.8
3.8
3.6
21.1
20.6
2.0
1.9
Inox Wind
Buy
236
286
5,227
4,406
5,605
15.5
15.7
20.4
24.8
11.6
9.5
2.7
2.0
27.9
25.9
1.4
1.1
KEC International
Neutral
145
-
3,716
8,791
9,716
6.1
6.8
5.4
8.2
26.8
17.6
2.7
2.5
10.0
14.0
0.6
0.6
Thermax
Neutral
857
-
10,208
6,413
7,525
7.4
8.5
30.5
39.3
28.1
21.8
4.3
3.8
15.0
17.0
1.6
1.3
VATech Wabag
Accumulate
608
681
3,311
2,722
3,336
7.9
8.1
19.5
24.6
31.2
24.7
3.3
2.9
11.1
12.4
1.3
1.1
Cement
ACC
Neutral
1,604
-
30,121
13,151
14,757
16.4
18.3
63.9
83.4
25.1
19.2
3.2
3.0
13.3
16.1
2.1
1.8
Ambuja Cements
Neutral
253
-
39,247
11,564
12,556
19.4
20.7
8.9
10.1
28.4
25.0
3.6
3.4
12.8
13.8
3.0
2.8
HeidelbergCement
Neutral
115
-
2,613
1,772
1,926
13.3
15.4
1.0
3.0
115.3
38.4
2.9
2.7
2.6
7.9
2.1
1.8
India Cements
Neutral
113
-
3,470
4,216
4,840
18.0
19.5
4.0
9.9
28.2
11.4
1.1
1.0
4.0
9.5
1.2
0.9
JK Cement
Neutral
702
-
4,906
3,661
4,742
10.1
15.8
7.5
28.5
93.5
24.6
2.8
2.5
7.5
22.9
1.8
1.4
J K Lakshmi Cement
Neutral
400
-
4,709
2,947
3,616
16.7
19.9
11.5
27.2
34.8
14.7
3.3
2.9
9.8
20.8
2.0
1.6
Mangalam Cements
Neutral
311
-
831
1,053
1,347
10.5
13.3
8.4
26.0
37.1
12.0
1.6
1.4
4.3
12.5
1.2
0.9
Orient Cement
Neutral
176
-
3,608
1,854
2,524
21.2
22.2
7.7
11.1
22.9
15.9
3.3
2.8
13.3
15.7
2.7
1.9
Ramco Cements
Neutral
575
-
13,688
4,036
4,545
20.8
21.3
15.1
18.8
38.1
30.6
4.7
4.1
12.9
14.3
3.9
3.4
Shree Cement^
Neutral
14,700
-
51,210
7,150
8,742
26.7
28.6
228.0
345.5
64.5
42.6
9.5
8.0
15.7
20.3
7.0
5.6
UltraTech Cement
Neutral
3,411
-
93,604
24,669
29,265
18.2
20.6
82.0
120.0
41.6
28.4
4.5
3.9
11.3
14.7
3.9
3.3
Construction
ITNL
Accumulate
83
93
2,725
7,360
8,682
34.0
32.2
7.0
8.6
11.8
9.6
0.4
0.4
3.2
2.5
3.7
3.6
KNR Constructions
Accumulate
571
603
1,606
937
1,470
14.3
14.0
44.2
38.6
12.9
14.8
2.6
2.2
15.4
15.4
1.7
1.1
Larsen & Toubro
Accumulate
1,565
1,700
145,878
58,870
65,708
8.3
10.3
42.0
53.0
37.3
29.5
2.6
2.3
8.8
11.2
2.7
2.4
Gujarat Pipavav Port
Neutral
164
-
7,916
629
684
51.0
52.2
6.4
5.9
25.6
27.8
3.4
3.1
15.9
12.7
12.1
10.9
MBL Infrastructures
Buy
125
285
519
2,313
2,797
12.2
14.6
19.0
20.0
6.6
6.3
0.7
0.6
11.3
10.6
0.9
0.8
Nagarjuna Const.
Neutral
78
-
4,308
7,892
8,842
8.8
9.1
3.0
5.3
25.8
14.6
1.3
1.2
5.0
8.5
0.8
0.7
PNC Infratech
Accumulate
575
647
2,950
1,873
2,288
13.2
13.5
24.0
32.0
24.0
18.0
2.3
2.1
12.1
12.3
1.7
1.4
Simplex Infra
Neutral
276
-
1,364
5,955
6,829
10.3
10.5
16.0
31.0
17.2
8.9
0.9
0.8
5.3
9.9
0.7
0.6
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
Construction
Power Mech Projects
Neutral
550
-
809
1,539
1,801
12.8
12.7
59.0
72.1
9.3
7.6
1.4
1.2
18.6
16.8
0.5
0.5
Sadbhav Engineering
Accumulate
288
298
4,941
3,186
3,598
10.2
10.3
8.0
9.0
36.0
32.0
3.4
2.9
9.4
9.9
1.9
1.6
NBCC
Accumulate
193
220
11,604
5,838
7,428
6.0
7.9
5.2
8.2
37.2
23.6
1.2
0.9
21.9
28.2
1.8
1.3
MEP Infra
Neutral
43
-
695
1,956
1,876
28.1
30.5
1.3
3.0
32.9
14.3
6.9
4.7
21.2
32.8
1.8
1.8
SIPL
Neutral
99
-
3,492
675
1,042
62.4
64.7
-
-
3.7
4.2
-
-
16.8
11.3
Engineers India
Neutral
211
-
7,106
1,667
1,725
13.5
16.0
9.7
11.4
21.7
18.5
2.6
2.5
11.7
13.4
3.0
3.0
Financials
Allahabad Bank
Neutral
75
-
5,448
8,569
9,392
2.8
2.9
16.3
27.5
4.6
2.7
0.4
0.3
7.6
11.9
-
-
Axis Bank
Neutral
544
-
129,816
26,204
29,738
3.6
3.5
34.5
35.4
15.8
15.4
2.5
2.2
16.8
14.9
-
-
Bank of Baroda
Neutral
160
-
36,820
18,802
21,088
2.0
2.2
(7.4)
13.0
12.3
1.3
1.0
(4.2)
7.3
-
-
Bank of India
Neutral
109
-
10,209
15,972
17,271
1.9
2.0
15.3
33.4
7.1
3.3
0.3
0.3
3.6
7.6
-
-
Canara Bank
Neutral
226
-
12,266
15,441
16,945
2.0
2.1
46.6
70.4
4.9
3.2
0.4
0.4
8.0
11.2
-
-
Dena Bank
Neutral
42
-
2,774
3,440
3,840
2.1
2.3
7.3
10.0
5.7
4.2
0.4
0.4
6.1
7.9
-
-
Dewan Housing Finance Buy
212
270
6,182
1,828
2,225
2.9
3.0
24.9
29.7
8.5
7.1
1.3
1.2
15.1
16.1
-
-
Equitas Holdings
Buy
189
235
6,330
679
1,076
12.4
11.7
6.2
6.7
30.5
28.2
3.8
2.8
13.3
12.5
-
-
Federal Bank
Neutral
61
-
10,455
3,279
3,787
2.8
2.9
3.9
5.5
15.4
11.0
1.3
1.2
8.4
10.8
-
-
HDFC
Neutral
1,252
-
198,008
10,358
11,852
3.3
3.3
41.1
47.0
30.5
26.6
5.8
5.3
24.7
24.9
-
-
HDFC Bank
Accumulate
1,172
1,262
296,593
38,606
47,696
4.4
4.5
48.8
61.4
24.0
19.1
4.1
3.6
18.7
20.0
-
-
ICICI Bank
Neutral
248
-
143,998
34,279
39,262
3.3
3.3
21.0
24.4
11.8
10.2
2.0
1.7
14.4
14.7
-
-
IDBI Bank
Neutral
75
-
15,493
9,625
10,455
1.8
1.8
8.5
14.2
8.8
5.3
0.6
0.5
5.9
9.3
-
-
Indian Bank
Neutral
152
-
7,279
6,160
6,858
2.5
2.5
24.5
29.8
6.2
5.1
0.5
0.4
7.7
8.6
-
-
LIC Housing Finance
Buy
501
592
25,261
3,179
3,758
2.6
2.6
32.9
40.6
15.2
12.3
2.8
2.4
19.6
20.7
-
-
Oriental Bank
Neutral
117
-
4,047
7,643
8,373
2.4
2.4
37.2
45.4
3.1
2.6
0.3
0.3
8.2
9.4
-
-
Punjab Natl.Bank
Neutral
113
-
22,140
23,122
26,022
2.8
2.8
7.0
21.6
16.1
5.2
0.8
0.7
3.4
10.0
-
-
South Ind.Bank
Neutral
21
-
2,768
1,965
2,185
2.5
2.5
2.5
3.3
8.2
6.2
0.8
0.7
9.5
11.7
-
-
St Bk of India
Neutral
223
-
172,993
79,958
86,061
2.6
2.6
13.4
20.7
16.6
10.8
1.4
1.3
11.5
12.8
-
-
Union Bank
Neutral
135
-
9,274
12,646
14,129
2.3
2.4
31.0
39.1
4.4
3.5
0.5
0.4
9.8
11.4
-
-
Vijaya Bank
Neutral
39
-
3,905
3,536
3,827
1.9
1.9
5.5
6.7
7.1
5.9
0.6
0.5
7.8
8.8
-
-
Yes Bank
Neutral
1,119
-
47,122
7,190
9,011
3.2
3.3
58.2
69.7
19.2
16.1
3.4
2.9
19.2
19.6
-
-
FMCG
Asian Paints
Neutral
1,001
-
96,016
15,534
17,445
17.7
16.8
18.4
19.6
54.5
51.1
19.3
18.2
34.6
35.6
6.0
5.4
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FMCG
Britannia
Neutral
2,838
-
34,052
8,481
9,795
14.0
14.1
65.5
78.3
43.3
36.3
20.5
16.8
38.3
41.2
3.9
3.4
Colgate
Neutral
925
-
25,161
4,136
4,632
22.5
23.3
22.2
25.3
41.7
36.6
25.4
22.6
68.6
67.5
6.0
5.3
Dabur India
Neutral
308
-
54,252
9,370
10,265
17.6
17.3
7.3
8.1
42.1
38.1
10.9
10.0
31.7
30.6
5.6
5.1
GlaxoSmith Con*
Neutral
6,123
-
25,749
4,519
5,142
19.6
19.8
164.3
191.2
37.3
32.0
10.3
8.8
30.8
29.9
5.1
4.5
Godrej Consumer
Neutral
1,635
-
55,691
9,003
10,335
18.1
18.7
34.1
41.8
48.0
39.1
10.4
8.9
23.9
24.8
6.3
5.5
HUL
Neutral
892
-
192,997
33,299
35,497
17.1
17.1
18.9
20.0
47.2
44.6
41.4
36.0
87.6
80.8
5.6
5.3
ITC
Buy
245
380
295,554
36,837
39,726
38.8
38.7
12.2
13.5
20.0
18.2
5.6
4.9
27.8
26.9
7.5
6.9
Marico
Neutral
265
-
34,235
6,151
6,966
17.2
17.3
5.4
6.4
49.1
41.5
15.4
12.2
33.2
32.4
5.5
4.8
Nestle*
Neutral
6,521
-
62,871
9,393
10,507
22.2
22.3
106.8
121.8
61.1
53.5
21.5
19.3
34.8
36.7
6.5
5.8
Tata Global
Neutral
134
-
8,463
8,635
9,072
9.8
9.9
5.8
7.2
23.1
18.6
2.1
2.0
6.8
7.4
1.0
1.0
Procter & Gamble
Buy
6,302
7,369
20,458
2,588
2,939
23.3
23.2
130.2
146.2
48.4
43.1
96.5
92.5
27.6
25.3
7.4
6.4
Hygiene
IT
HCL Tech^
Buy
746
1,000
105,285
37,061
30,781
21.5
20.5
51.4
40.0
14.5
18.7
3.8
2.7
20.1
20.3
2.6
2.8
Infosys
Buy
1,184
1,374
272,016
62,441
70,558
27.5
27.5
59.0
65.3
20.1
18.1
4.0
3.7
22.2
22.4
3.8
3.3
TCS
Buy
2,495
3,004
491,582
108,646
122,770
28.3
28.3
123.7
141.0
20.2
17.7
6.7
6.1
33.1
34.6
4.1
3.5
Tech Mahindra
Buy
517
700
50,225
26,494
30,347
16.3
17.0
32.2
37.5
16.1
13.8
3.5
3.0
21.7
21.8
1.7
1.4
Wipro
Buy
560
680
138,385
50,808
56,189
23.7
23.8
37.3
40.7
15.0
13.8
2.9
2.6
19.2
17.7
2.2
1.8
Media
D B Corp
Neutral
389
-
7,139
2,025
2,187
27.4
27.4
17.4
18.9
22.3
20.6
5.0
4.6
22.9
23.7
3.5
3.2
HT Media
Neutral
80
-
1,862
2,495
2,673
12.9
13.2
6.8
7.2
11.8
11.1
0.9
0.9
7.5
7.8
0.3
0.3
Jagran Prakashan
Accumulate
178
205
5,829
2,107
2,355
33.5
28.0
10.1
10.8
17.8
16.5
4.1
3.6
23.3
21.7
2.8
2.5
Sun TV Network
Neutral
373
-
14,688
2,510
2,763
71.8
71.5
21.9
24.8
17.0
15.0
4.0
3.6
22.8
24.3
5.3
4.8
Hindustan Media
Neutral
272
-
1,997
914
1,016
21.7
21.5
21.9
23.3
12.4
11.7
2.2
1.9
18.0
16.2
1.6
1.4
Ventures
Metals & Mining
Coal India
Buy
317
380
200,513
76,167
84,130
19.9
22.3
22.4
25.8
14.2
12.3
5.1
5.0
35.5
41.0
2.0
1.8
Hind. Zinc
Neutral
185
-
78,063
14,641
14,026
50.4
50.4
17.7
16.0
10.5
11.6
1.6
1.5
16.2
13.2
3.0
2.8
Hindalco
Neutral
126
-
26,009
104,356
111,186
8.7
9.5
6.7
11.1
18.7
11.4
0.7
0.7
3.5
5.9
0.8
0.7
JSW Steel
Neutral
1,474
-
35,625
42,308
45,147
16.4
20.7
(10.3)
49.5
29.8
1.6
1.6
(1.0)
5.6
1.9
1.8
NMDC
Neutral
95
-
37,467
8,237
10,893
46.6
44.5
10.0
11.7
9.5
8.1
1.1
0.9
12.5
13.0
4.3
3.3
SAIL
Neutral
47
-
19,329
45,915
53,954
7.2
10.5
1.5
4.4
31.1
10.7
0.5
0.4
2.3
4.1
1.1
0.9
Vedanta
Neutral
139
-
41,105
71,445
81,910
26.2
26.3
12.9
19.2
10.8
7.2
0.8
0.7
7.2
8.9
1.0
0.8
Tata Steel
Neutral
331
-
32,167
126,760
137,307
8.9
11.3
6.4
23.1
52.1
14.4
1.0
1.0
2.0
7.1
0.8
0.8
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
Oil & Gas
Cairn India
Neutral
148
-
27,720
11,323
12,490
49.4
51.0
20.7
20.7
7.1
7.2
0.5
0.4
6.4
6.1
1.5
0.9
GAIL
Neutral
397
-
50,308
64,856
70,933
9.1
9.6
24.0
28.9
16.6
13.7
1.4
1.3
8.8
9.6
1.0
0.9
ONGC
Neutral
232
-
198,530
154,564
145,998
36.8
37.4
20.8
22.6
11.2
10.3
1.1
1.0
10.1
9.7
1.5
1.6
Petronet LNG
Neutral
296
-
22,196
29,691
31,188
5.8
6.2
12.8
13.4
23.2
22.0
3.5
3.1
15.8
14.8
0.8
0.8
Indian Oil Corp
Neutral
481
-
116,736
359,607
402,760
5.9
6.1
42.5
48.7
11.3
9.9
1.5
1.3
14.1
14.4
0.4
0.4
Reliance Industries
Neutral
987
-
319,916
304,775
344,392
12.6
13.4
91.3
102.6
10.8
9.6
1.2
1.1
11.8
12.0
1.0
0.8
Pharmaceuticals
Alembic Pharma
Neutral
579
-
10,924
3,145
3,483
31.9
16.2
38.2
18.7
15.2
31.0
6.8
5.8
57.9
20.1
3.4
3.1
Aurobindo Pharma
Neutral
757
-
44,318
13,651
15,702
21.7
21.7
33.9
38.4
22.3
19.7
6.3
4.9
32.5
27.7
3.5
3.1
Aventis*
Neutral
4,653
-
10,716
2,049
2,375
15.4
17.3
115.4
153.5
40.3
30.3
6.6
5.1
19.3
25.8
5.0
4.2
Cadila Healthcare
Buy
333
400
34,086
9,469
11,246
21.2
22.0
14.9
17.1
22.4
19.5
6.4
5.0
28.8
26.6
3.6
3.0
Cipla
Neutral
509
-
40,922
13,372
15,378
16.4
17.4
18.8
21.6
27.1
23.6
3.5
3.1
13.3
13.7
3.1
2.9
Dr Reddy's
Neutral
3,435
-
58,581
15,471
17,479
24.6
24.6
138.2
152.4
24.9
22.5
4.6
3.9
19.7
18.7
3.7
3.3
Dishman Pharma
Neutral
142
-
2,297
1,733
1,906
21.5
21.5
10.1
10.0
14.1
14.2
1.7
1.5
10.5
11.2
1.8
1.6
GSK Pharma*
Neutral
3,502
-
29,659
2,741
3,528
16.5
18.9
44.2
60.1
79.2
58.3
17.5
17.3
21.2
29.9
10.4
8.2
Indoco Remedies
Neutral
281
-
2,589
977
1,112
14.9
18.2
9.0
13.2
31.2
21.3
4.4
3.8
15.1
19.2
2.8
2.5
Ipca labs
Buy
485
613
6,117
2,844
3,799
10.6
15.3
10.6
17.3
45.7
28.0
2.7
2.4
5.9
9.1
2.3
1.7
Lupin
Buy
1,564
1,809
70,527
13,702
15,912
23.7
26.4
50.5
58.1
31.0
26.9
6.4
5.2
22.9
21.4
5.6
4.5
Sun Pharma
Buy
772
944
185,773
27,744
31,129
26.0
30.0
22.0
28.0
35.1
27.6
5.1
4.2
18.3
18.7
6.5
5.6
Power
Tata Power
Neutral
75
-
20,258
35,923
37,402
22.6
22.8
4.1
5.2
18.5
14.5
1.4
1.3
7.5
9.3
1.5
1.4
NTPC
Neutral
156
-
128,217
87,271
99,297
23.5
23.5
11.8
13.3
13.2
11.7
1.5
1.4
11.5
12.2
2.5
2.2
Power Grid
Neutral
165
-
86,321
20,702
23,361
86.7
86.4
12.1
13.2
13.7
12.5
2.0
1.8
15.6
15.1
9.1
8.4
Real Estate
MLIFE
Buy
465
554
1,907
826
1,011
20.1
21.9
22.7
30.7
20.5
15.1
1.2
1.1
6.0
7.4
4.2
3.2
Telecom
Bharti Airtel
Neutral
373
-
149,123
101,748
109,191
32.1
31.7
12.0
12.5
31.1
29.8
2.1
2.0
6.9
6.7
2.1
1.9
Idea Cellular
Neutral
106
-
38,295
34,282
36,941
32.0
31.5
5.9
6.2
18.0
17.2
1.7
1.5
9.9
9.3
1.7
1.6
zOthers
Abbott India
Neutral
4,742
-
10,076
2,715
3,153
14.5
14.1
134.3
152.2
35.3
31.2
8.8
7.3
27.4
25.6
3.4
2.9
Bajaj Electricals
Accumulate
246
268
2,489
4,612
5,351
5.6
5.7
23.4
18.0
10.5
13.7
3.2
2.9
12.5
14.4
0.5
0.5
Finolex Cables
Neutral
367
-
5,618
2,520
2,883
12.2
12.0
12.7
14.2
29.0
25.9
4.0
3.5
13.6
13.5
2.0
1.7
Goodyear India*
Buy
536
631
1,237
1,800
1,600
11.7
11.5
58.7
52.9
9.1
10.1
2.1
1.8
24.6
18.7
0.5
0.5
Hitachi
Neutral
1,390
-
3,781
1,779
2,081
7.8
8.8
21.8
33.4
63.8
41.6
10.3
8.3
17.4
22.1
2.2
1.9
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
FY16E
FY17E
zOthers
Jyothy Laboratories
Neutral
307
-
5,562
1,620
1,847
11.5
11.5
7.3
8.5
42.1
36.3
5.4
5.0
13.3
14.4
3.3
2.8
MRF
Buy
35,123
45,575
14,896
20,316
14,488
21.4
21.1
5,488.0
3,798.0
6.4
9.3
2.2
1.8
41.1
21.2
0.7
0.9
Page Industries
Neutral
13,970
-
15,582
1,929
2,450
19.8
20.1
229.9
299.0
60.8
46.7
26.8
18.6
52.1
47.1
8.1
6.4
Relaxo Footwears
Neutral
487
-
5,842
1,767
2,152
12.3
12.5
19.3
25.1
25.3
19.4
6.2
4.8
27.7
27.8
3.4
2.7
Siyaram Silk Mills
Buy
1,100
1,347
1,031
1,619
1,799
11.6
11.6
93.5
104.9
11.8
10.5
2.0
1.7
17.1
16.4
0.9
0.8
Styrolution ABS India* Neutral
659
-
1,159
1,271
1,440
8.6
9.2
32.0
41.1
20.6
16.1
2.1
1.9
10.7
12.4
0.9
0.8
TVS Srichakra
Buy
2,451
2,932
1,876
2,035
2,252
15.9
15.3
248.6
268.1
9.9
9.1
4.3
3.1
43.6
33.9
1.0
0.8
HSIL
Accumulate
280
310
2,025
2,123
2,384
16.1
16.5
15.0
18.9
18.6
14.8
1.5
1.3
8.0
9.4
1.3
1.1
Kirloskar Engines India
Neutral
269
-
3,889
2,403
2,554
8.6
9.9
9.2
10.5
29.3
25.6
2.8
2.7
9.7
10.7
1.3
1.2
Ltd
M M Forgings
Buy
454
546
548
511
615
21.7
21.6
43.1
55.8
10.5
8.1
1.9
1.6
19.9
21.2
1.3
1.0
Banco Products (India) Neutral
161
-
1,151
1,208
1,353
11.0
12.3
10.8
14.5
14.9
11.1
1.7
1.5
11.9
14.5
0.9
0.8
Competent Automobiles Neutral
150
-
92
1,040
1,137
3.2
3.1
25.7
28.0
5.8
5.4
0.9
0.8
15.0
14.3
0.1
0.1
Nilkamal
Neutral
1,236
-
1,845
1,871
2,031
10.7
10.5
63.2
69.8
19.6
17.7
3.2
2.7
17.6
16.6
1.0
0.9
Visaka Industries
Neutral
161
-
256
1,020
1,120
8.7
9.1
13.9
20.1
11.6
8.0
0.7
0.7
6.4
8.7
0.5
0.4
Transport Corporation of
Neutral
324
-
2,481
2,830
3,350
8.8
9.0
14.4
18.3
22.6
17.7
3.5
3.0
15.4
17.1
1.0
0.8
India
Elecon Engineering
Neutral
66
-
715
1,359
1,482
10.3
13.7
0.8
3.9
81.8
16.9
1.3
1.3
1.6
7.8
0.9
0.8
Surya Roshni
Buy
167
201
733
2,992
3,223
8.1
8.4
14.7
18.3
11.4
9.1
1.1
1.0
9.7
11.0
0.5
0.5
MT Educare
Neutral
168
-
671
286
366
18.3
17.7
7.7
9.4
21.8
18.0
4.6
4.0
20.2
21.1
2.2
1.7
Radico Khaitan
Buy
94
125
1,250
1,543
1,659
12.6
13.0
5.8
6.3
16.3
14.8
1.4
1.3
8.5
8.6
1.3
1.2
Garware Wall Ropes
Buy
393
460
860
828
898
11.2
10.3
28.3
29.0
13.9
13.5
2.3
2.0
16.8
14.9
1.0
0.9
Wonderla Holidays
Neutral
398
-
2,246
206
308
44.0
43.6
9.0
12.9
44.2
30.8
6.0
5.5
13.7
17.8
10.9
7.3
Linc Pen & Plastics
Neutral
246
-
364
344
382
9.1
9.1
12.4
13.1
19.9
18.8
3.6
3.1
18.0
16.7
1.1
1.0
The Byke Hospitality
Neutral
159
-
637
222
287
20.5
20.5
5.6
7.6
28.2
21.0
5.3
4.4
18.9
20.8
2.9
2.2
Interglobe Aviation
Neutral
1,045
-
37,645
17,022
21,122
20.7
14.5
63.9
53.7
16.4
19.5
24.5
20.1
149.9
103.2
2.2
1.7
Coffee Day Enterprises
Neutral
260
-
5,348
2,692
2,964
17.0
18.6
-
4.7
-
54.8
3.2
3.0
0.2
5.5
2.4
2.2
Ltd
Navneet Education
Neutral
99
-
2,360
998
1,062
24.1
24.0
5.8
6.1
17.2
16.3
3.8
3.3
22.0
20.6
2.4
2.3
Navkar Corporation
Buy
214
265
3,048
347
408
43.2
42.9
6.7
6.8
32.0
31.6
2.4
2.2
7.3
6.9
9.2
8.4
UFO Moviez
Neutral
559
-
1,542
558
619
32.0
33.2
22.5
30.0
24.8
18.6
3.0
2.6
12.0
13.8
2.7
2.3
VRL Logistics
Neutral
313
-
2,859
1,725
1,902
16.5
16.7
12.2
14.6
25.7
21.5
5.4
4.7
20.8
21.9
1.8
1.6
www.angelbroking.com
Stock Watch
July 05, 2016
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 )
FY16E FY17E FY16E FY17E FY16E FY17E FY16E FY17E FY16E FY17E FY16E FY17E FY16E FY17E
zOthers
Team Lease Serv.
Neutral
1,099
-
1,880
2,565
3,229
1.3
1.5
15.2
22.8
72.4
48.3
5.8
5.2
8.0
10.7
0.6
0.5
S H Kelkar & Co.
Neutral
213
-
3,077
928
1,036
15.3
15.1
4.9
6.1
43.1
34.8
4.0
3.7
9.4
10.7
3.2
2.8
Quick Heal
Neutral
269
-
1,882
339
408
27.8
27.3
7.1
7.7
38.0
34.7
3.2
3.2
8.5
9.3
4.5
3.7
Narayana Hrudaya
Neutral
314
-
6,415
1,603
1,873
10.9
11.5
1.0
2.6
329.5
118.7
7.9
7.3
2.4
6.1
4.1
3.5
Manpasand Bever.
Neutral
587
-
2,939
540
836
19.9
19.6
10.2
16.9
57.3
34.8
4.6
4.2
8.1
12.0
4.9
3.1
Parag Milk Foods
Buy
284
336
2,385
1,645
1,919
9.0
9.3
6.7
9.5
42.2
30.0
5.5
4.7
13.1
15.5
1.7
1.4
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on July 04, 2016
www.angelbroking.com
Market Outlook
July 05, 2016
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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-managed public offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst has not served as
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