Market Outlook
June 23, 2016
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
Indian markets are expected to open in green tracking SGX Nifty and Asian markets.
BSE Sensex
(0.2)
(47)
26,766
Nifty
(0.2)
(16)
8,204
U.S. Markets finished slightly lower on Wednesday, as polls showed the outcome of
a U.K. referendum on whether to leave the European Union remained too close to
Mid Cap
(0.1)
(13)
11,405
call a day ahead of the vote.
Small Cap
(0.6)
(69)
11,451
Bankex
(0.1)
(18)
20,136
European markets ended Wednesday's session in positive territory, extending their
winning streak to 4 sessions. Investors remained in a cautious mood ahead of
Thursday's U.K. referendum on whether to remain in the European Union. While
Global Indices
Chg (%)
(Pts)
(Close)
recent polls have shown increased support for the "Remain" camp, the issue remains
Dow Jones
(0.3)
(49)
17,781
too close to call.
Nasdaq
(0.2)
(10)
4,833
Indian markets ended a lackluster session lower on Wednesday as investors
FTSE
0.6
35
6,261
exercised caution ahead of Thursday's all-important UK-wide referendum to decide
Nikkei
(0.6)
(103)
16,066
on the country's future in the European Union.
Hang Seng
0.6
127
20,795
News Analysis
Shanghai Com
0.9
27
2,906
Lupin Receives FDA Approval for Generic Activella® Tablets
Cabinet clears `6,000cr package for textiles, apparel
Advances / Declines
BSE
NSE
Detailed analysis on Pg2
Advances
964
513
Investor’s Ready Reckoner
Declines
1,626
1,057
Unchanged
206
79
Key Domestic & Global Indicators
Stock Watch: Latest investment recommendations on 150+ stocks
Refer Pg4 onwards
Volumes (` Cr)
BSE
2,384
Top Picks
NSE
15,114
CMP
Target
Upside
Company
Sector
Rating
(`)
(`)
(%)
Amara Raja
Auto/Auto Ancillary
Buy
863
1,076
24.6
Net Inflows (` Cr)
Net
Mtd
Ytd
HCL Tech
IT
Buy
770
1,000
29.9
FII
421
4,213
18,582
LIC Housing
Financials
Buy
483
592
22.5
MFs
459
277
9,707
Bharat Electronics
Capital Goods
Accumulate
1,265
1,414
11.8
Navkar Corporation Others
Buy
203
265
30.5
Top Gainers
Price (`)
Chg (%)
More Top Picks on Pg3
Escorts
207
13.9
Key Upcoming Events
Natcopharm
529
5.8
Previous
Consensus
Date
Region
Event Description
Reading
Expectations
Vakrangee
188
5.1
June 23 US
Intial Jobless claims
277.0
270.0
Hexaware
222
4.2
June 23 Germany
PMI Manufacturing
52.1
52.0
Feldvr
18
3.4
June 23 US
GDP QoQ (Annualised)
0.8
1.0
June 28 US
New home sales
619.0
560.0
6.(
Top Losers
Price (`)
Chg (%)
More Events on Pg4
Iifl
218
(4.6)
Jswenergy
79
(4.5)
Renuka
16
(4.4)
Indianb
135
(4.2)
Rdel
63
(3.4)
As on June 22, 2016
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Market Outlook
June 23, 2016
Lupin Receives FDA Approval for Generic Activella® Tablets
Lupin Limited (Lupin) announced, that it has received final approval for its
Amabelz™ Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg / 0.1
mg and 1 mg / 0.5 mg) from the United States Food and Drug Administration
(FDA) to market a generic version of Amneal Pharmaceuticals’ Activella® Tablets
(Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg / 0.1 mg and 1 mg /
0.5 mg).Activella® had US sales of US$95.6mn (IMS MAT March 2016). We
maintain our buy with a price target of `1,809.
Cabinet clears `6,000cr package for textiles, apparel
Government approved a `6,000cr special package for textiles & apparel sector to
create one crore new jobs in 3 years, attracting investments of $11 billion and
generating $30 billion in exports. The measures approved include additional
incentives for duty drawback scheme for garments, flexibility in labour laws to
increase productivity as well as tax and production incentives for job creation in
garment manufacturing.
Over the last few years, apparel manufacturing had shifted to countries like China
which had cost advantages. However, China's cost advantage has been
neutralized to some extent because of increase in labour wages. India has
advantages of economies of scale. Therefore, government was decided to take
steps to give a boost to the sector. The package will help in realizing the true
potential of employment generation in the textile and apparel sector.
Economic and Political News
Govt to revise drugs law, draft new rules for medical devices
Union Cabinet approves spectrum base price and other auction terms
Fertiliser industry calls for import duty cut on raw materials
Corporate News
GAIL awards `550cr contracts for 'Urga Ganga' pipeline
Force Motors opens `100cr plant for Mercedes
Insecticides (India) to set up manufacturing unit in UP
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Market Outlook
June 23, 2016
Top Picks ★★★★★
Large Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
To outpace battery industry growth due to better technological
Amara Raja Batteries
14,747
863
1,076
24.6
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
30,352
1,265
1,414
11.8
strong market positioning, indicate good times ahead for BEL.
HCL Tech
1,08,628
770
1,000
29.9
Stock is trading at attractive valuations & factors all bad news.
Strong visibility for a robust 20% earnings trajectory, coupled
HDFC Bank
2,96,315
1,170
1,262
7.8
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
2,75,300
1,199
1,374
14.6
be a US$20bn in FY2020.
Continues to grow its retail loan book at healthy pace with
LIC Housing Finance
24,380
483
592
22.5
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
11,202
187
220
17.8
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
10,661
322
407
26.3
continue, EMP business set to revive
Source: Company, Angel Research
Mid Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
Among the top 4 players in the consumer durables segment.
Bajaj Electricals
2,249
223
268
20.4
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
3,851
428
495
15.6
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
5,840
200
270
34.9
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
5,928
177
235
33.0
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
2,400
73
93
27.5
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
5,642
173
205
18.8
business (Radio City) would also boost the company's revenue
growth.
Speedier execution and speedier sales, strong revenue visibility
Mahindra Lifespace
1,871
456
554
21.5
in short-to-long run, attractive valuations
Massive capacity expansion along with rail advantage at ICD
Navkar Corporation
2,896
203
265
30.5
as well CFS augurs well for the company
Earnings boost on back of stable material prices and
Radico Khaitan
1,228
92
125
35.4
favourable pricing environment. Valuation discount to peers
provides additional comfort
Strong brands and distribution network would boost growth
Siyaram Silk Mills
973
1,038
1,347
29.8
going ahead. Stock currently trades at an inexpensive
valuation.
Source: Company, Angel Research
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Market Outlook
June 23, 2016
Key Upcoming Events
Global economic events release calendar
Date
Time
Country
Event Description
Unit
Period
Bloomberg Data
Last Reported Estimated
Jun 23, 2016
1:00PM
Germany
PMI Services
Value
Jun P
55.20
55.00
6:00PM
US
Initial Jobless claims
Thousands
Jun 18
277.00
270.00
1:00PM
Germany
PMI Manufacturing
Value
Jun P
52.10
52.00
6:00PM
US
GDP Qoq (Annualised)
% Change
1Q T
0.80
1.00
Jun 28, 2016
7:30PM
US
New home sales
Thousands
May
619.00
560.00
7:30PM
US
Consumer Confidence
S.A./ 1985=100
Jun
92.60
93.00
Jun 30, 2016
1:25PM
Germany
Unemployment change (000's)
Thousands
Jun
(11.00)
--
2:00PM
UK
GDP (YoY)
% Change
1Q F
2.10
--
Jul 1, 2016
2:00PM
UK
PMI Manufacturing
Value
Jun
50.10
--
6:30AM
China
PMI Manufacturing
Value
Jun
50.10
50.10
Jul 7, 2016
2:00PM
UK
Industrial Production (YoY)
% Change
May
1.60
--
Jul 8, 2016
India
Imports YoY%
% Change
Jun
(13.20)
--
India
Exports YoY%
% Change
Jun
(0.80)
--
6:00PM
US
Change in Nonfarm payrolls
Thousands
Jun
38.00
--
6:00PM
US
Unnemployment rate
%
Jun
4.70
--
Jul 10, 2016
5:30PM
India
Industrial Production YoY
% Change
May
(0.80)
--
Jul 12, 2016
7:00AM
China
Consumer Price Index (YoY)
% Change
Jun
2.00
--
Jul 13, 2016
China
Exports YoY%
% Change
Jun
(4.10)
--
Jul 14, 2016
4:30PM
UK
BOE Announces rates
% Ratio
Jul 14
0.50
--
US
Producer Price Index (mom)
% Change
Jun
0.50
--
12:00PM
India
Monthly Wholesale Prices YoY%
% Change
Jun
0.79
--
Jul 15, 2016
2:30PM
Euro Zone
Euro-Zone CPI (YoY)
%
Jun F
(0.10)
--
6:00PM
US
Consumer price index (mom)
% Change
Jun
0.20
--
6:45PM
US
Industrial Production
%
Jun
(0.42)
--
7:30AM
China
Industrial Production (YoY)
% Change
Jun
6.00
--
6:00PM
US
Housing Starts
Thousands
Jun
1,164.00
--
Jul 19, 2016
6:00PM
US
Building permits
Thousands
Jun
1,138.00
--
2:00PM
UK
CPI (YoY)
% Change
Jun
0.30
--
7:30AM
China
Real GDP (YoY)
% Change
2Q
6.70
--
Source: Bloomberg, Angel Research
Market Outlook
June 23, 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
5.7
5.8
5.4
5.4
5.6
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
June 23, 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
1.3
1.4
2.0
0.1
-
(0.2)
(2.0)
(4.0)
(1.2)
(6.0)
(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
June 23, 2016
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
50,156
0.9
(2.0)
(6.6)
Russia
Micex
1,897
0.3
(0.9)
13.5
India
Nifty
8,204
6.1
9.2
1.4
China
Shanghai Composite
2,906
2.6
(4.0)
(43.9)
South Africa
Top 40
47,475
2.0
1.4
1.9
Mexico
Mexbol
45,806
1.3
0.4
0.8
Indonesia
LQ45
836
3.7
(1.1)
1.3
Malaysia
KLCI
1,638
0.5
(5.0)
(4.9)
Thailand
SET 50
902
2.3
0.3
(9.1)
USA
Dow Jones
17,781
1.6
1.1
(1.0)
UK
FTSE
6,261
2.9
0.4
(9.0)
Japan
Nikkei
16,066
(3.4)
(4.7)
(20.7)
Germany
DAX
10,071
2.3
1.2
(12.4)
France
CAC
4,380
1.3
(1.2)
(10.3)
Source: Bloomberg, Angel Research
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Stock Watch
June 23, 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
-
4,241
1,612
1,911
13.3
13.3
7.4
9.5
29.5
23.0
4.7
4.2
16.7
18.4
2.7
2.3
United Phosphorus
Buy
556
684
23,824
13,083
15,176
18.5
18.5
31.5
37.4
17.7
14.9
3.5
2.9
21.4
21.4
2.0
1.7
Auto & Auto Ancillary
Ashok Leyland
Accumulate
100
111
28,402
17,995
21,544
11.4
11.6
3.4
4.7
29.4
21.2
5.1
4.7
17.7
22.2
1.5
1.3
Bajaj Auto
Neutral
2,627
-
76,007
22,709
25,860
20.9
20.1
129.0
143.6
20.4
18.3
6.2
5.4
30.7
29.4
2.9
2.5
Bharat Forge
Buy
738
875
17,174
7,351
8,318
19.9
19.7
31.2
36.5
23.7
20.2
4.2
3.6
19.3
19.2
2.5
2.1
Eicher Motors
Accumulate
18,788
20,044
51,029
15,556
16,747
15.5
17.3
464.8
597.5
40.4
31.4
14.8
10.9
36.2
34.3
3.2
2.9
Gabriel India
Accumulate
93
101
1,334
1,415
1,544
8.7
9.0
4.6
5.4
20.2
17.2
3.7
3.3
18.1
18.9
0.9
0.8
Hero Motocorp
Neutral
3,069
-
61,276
28,244
30,532
15.5
15.9
156.7
168.5
19.6
18.2
7.8
6.6
39.9
36.4
2.0
1.8
Jamna Auto Industries Neutral
173
-
1,380
1,281
1,473
11.2
11.5
7.6
9.2
22.7
18.8
5.7
4.7
25.4
25.2
1.1
1.0
L G Balakrishnan & Bros Neutral
448
-
703
1,254
1,394
11.6
11.8
35.9
41.7
12.5
10.8
1.7
1.5
13.5
13.8
0.7
0.6
Mahindra and Mahindra Neutral
1,358
-
84,369
38,416
42,904
13.7
13.9
54.8
63.4
24.8
21.4
3.8
3.4
15.4
15.8
1.8
1.6
Maruti
Neutral
4,149
-
125,345
57,865
68,104
16.4
16.7
176.3
225.5
23.5
18.4
4.6
3.9
19.4
21.2
1.9
1.6
Minda Industries
Neutral
1,167
-
1,851
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
Neutral
302
-
40,000
39,343
45,100
8.8
9.1
10.1
12.5
29.9
24.2
9.5
7.4
35.3
34.4
1.1
1.0
Rane Brake Lining
Buy
375
465
297
454
511
11.5
12.0
25.2
31.0
14.9
12.1
2.2
2.0
14.9
16.6
0.8
0.7
Setco Automotive
Neutral
47
-
623
594
741
12.7
13.7
1.7
3.2
27.4
14.6
2.9
2.5
10.4
16.9
1.5
1.2
Tata Motors
Neutral
473
-
136,420
259,686
273,957
13.0
13.4
25.9
29.5
18.2
16.0
2.4
2.1
8.0
9.0
0.7
0.7
TVS Motor
Accumulate
295
330
14,010
11,263
13,122
6.9
8.5
9.2
15.0
32.1
19.7
7.3
5.8
22.7
29.6
1.2
1.0
Amara Raja Batteries
Buy
863
1,076
14,747
4,690
5,429
17.5
17.5
28.5
35.3
30.4
24.4
7.0
5.8
23.1
25.9
3.1
2.7
Exide Industries
Neutral
161
-
13,702
6,950
7,784
14.4
14.8
6.6
7.3
24.4
22.1
3.1
2.8
12.6
12.8
1.7
1.5
Apollo Tyres
Buy
148
183
7,556
12,056
12,714
17.2
16.4
23.0
20.3
6.5
7.3
1.1
1.0
17.7
13.6
0.7
0.7
Ceat
Buy
822
1,119
3,324
6,041
6,597
14.1
13.7
99.5
111.9
8.3
7.3
1.6
1.4
19.6
18.5
0.7
0.6
JK Tyres
Neutral
87
-
1,972
7,446
7,669
15.2
14.0
19.6
18.4
4.4
4.7
1.1
0.9
25.2
19.5
0.7
0.6
Swaraj Engines
Neutral
1,163
-
1,445
552
630
14.2
14.7
44.6
54.1
26.1
21.5
6.1
5.5
23.2
25.6
2.5
2.1
Subros
Neutral
89
-
534
1,293
1,527
11.8
11.9
4.2
6.7
21.2
13.3
1.6
1.5
7.7
11.5
0.7
0.6
Indag Rubber
Neutral
188
-
494
283
329
17.0
17.2
13.0
15.4
14.5
12.2
3.2
2.6
21.8
21.6
1.5
1.2
Capital Goods
ACE
Neutral
41
-
408
660
839
4.7
8.2
1.0
3.9
41.3
10.6
1.3
1.2
3.2
11.3
0.8
0.6
BEML
Buy
847
1,157
3,527
3,277
4,006
6.0
8.9
36.2
64.3
23.4
13.2
1.6
1.5
5.7
11.7
1.2
0.9
Bharat Electronics
Accumulate
1,265
1,414
30,352
7,295
8,137
20.0
16.8
56.5
58.7
22.4
21.5
3.3
3.0
42.1
44.6
3.4
2.9
www.angelbroking.com
Stock Watch
June 23, 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
322
407
10,661
5,857
6,511
7.5
7.9
11.7
12.9
27.5
25.0
4.5
3.9
17.1
16.7
1.8
1.6
BGR Energy
Neutral
111
-
804
3,615
3,181
9.5
9.4
16.7
12.4
6.7
9.0
0.6
0.6
10.0
7.0
0.6
0.8
BHEL
Neutral
123
-
30,008
33,722
35,272
10.8
11.7
10.5
14.2
11.7
8.6
0.9
0.8
7.0
9.0
1.0
0.9
Blue Star
Buy
428
495
3,851
3,770
4,351
5.7
6.4
11.4
17.2
37.5
24.9
5.8
5.4
18.4
23.1
1.0
0.9
Crompton Greaves
Neutral
72
-
4,528
13,484
14,687
4.9
6.2
4.5
7.1
16.1
10.2
1.1
1.1
7.2
10.8
0.5
0.4
Greaves Cotton
Neutral
135
-
3,300
1,655
1,755
16.6
16.8
7.4
7.8
18.3
17.3
3.7
3.5
21.1
20.6
1.9
1.8
Inox Wind
Buy
236
286
5,247
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
134
-
3,441
8,791
9,716
6.1
6.8
5.4
8.2
24.8
16.3
2.5
2.3
10.0
14.0
0.6
0.6
Thermax
Neutral
798
-
9,512
6,413
7,525
7.4
8.5
30.5
39.3
26.2
20.3
4.0
3.5
15.0
17.0
1.5
1.2
VATech Wabag
Buy
570
681
3,106
2,722
3,336
7.9
8.1
19.5
24.6
29.2
23.2
3.1
2.7
11.1
12.4
1.2
1.0
Cement
ACC
Neutral
1,567
-
29,428
13,151
14,757
16.4
18.3
63.9
83.4
24.5
18.8
3.2
2.9
13.3
16.1
2.1
1.8
Ambuja Cements
Neutral
242
-
37,556
11,564
12,556
19.4
20.7
8.9
10.1
27.2
24.0
3.4
3.2
12.8
13.8
2.9
2.6
HeidelbergCement
Neutral
107
-
2,425
1,772
1,926
13.3
15.4
1.0
3.0
107.0
35.7
2.7
2.5
2.6
7.9
1.9
1.7
India Cements
Neutral
102
-
3,147
4,216
4,840
18.0
19.5
4.0
9.9
25.6
10.4
1.0
1.0
4.0
9.5
1.1
0.9
JK Cement
Neutral
638
-
4,461
3,661
4,742
10.1
15.8
7.5
28.5
85.1
22.4
2.6
2.3
7.5
22.9
1.7
1.3
J K Lakshmi Cement
Neutral
389
-
4,581
2,947
3,616
16.7
19.9
11.5
27.2
33.9
14.3
3.2
2.8
9.8
20.8
2.0
1.6
Mangalam Cements
Neutral
286
-
763
1,053
1,347
10.5
13.3
8.4
26.0
34.1
11.0
1.4
1.3
4.3
12.5
1.1
0.8
Orient Cement
Neutral
163
-
3,339
1,854
2,524
21.2
22.2
7.7
11.1
21.2
14.7
3.0
2.6
13.3
15.7
2.5
1.8
Ramco Cements
Neutral
546
-
13,004
4,036
4,545
20.8
21.3
15.1
18.8
36.2
29.1
4.4
3.9
12.9
14.3
3.7
3.2
Shree Cement^
Neutral
14,128
-
49,218
7,150
8,742
26.7
28.6
228.0
345.5
62.0
40.9
9.1
7.7
15.7
20.3
6.6
5.3
UltraTech Cement
Neutral
3,318
-
91,060
24,669
29,265
18.2
20.6
82.0
120.0
40.5
27.7
4.4
3.8
11.3
14.7
3.8
3.2
Construction
ITNL
Buy
73
93
2,400
7,360
8,682
34.0
32.2
7.0
8.6
10.4
8.5
0.4
0.4
3.2
2.5
3.7
3.5
KNR Constructions
Accumulate
557
603
1,565
937
1,470
14.3
14.0
44.2
38.6
12.6
14.4
2.5
2.2
15.4
15.4
1.8
1.1
Larsen & Toubro
Accumulate
1,491
1,700
138,920
58,870
65,708
8.3
10.3
42.0
53.0
35.5
28.1
2.5
2.2
8.8
11.2
2.6
2.3
Gujarat Pipavav Port
Neutral
165
-
7,982
629
684
51.0
52.2
6.4
5.9
25.8
28.0
3.4
3.1
15.9
12.7
12.3
11.2
MBL Infrastructures
Buy
115
285
477
2,313
2,797
12.2
14.6
19.0
20.0
6.1
5.8
0.6
0.6
11.3
10.6
0.9
0.8
Nagarjuna Const.
Neutral
74
-
4,128
7,892
8,842
8.8
9.1
3.0
5.3
24.8
14.0
1.2
1.1
5.0
8.5
0.8
0.6
PNC Infratech
Buy
554
647
2,840
1,873
2,288
13.2
13.5
24.0
32.0
23.1
17.3
2.2
2.0
12.1
12.3
1.6
1.3
Simplex Infra
Neutral
280
-
1,386
5,955
6,829
10.3
10.5
16.0
31.0
17.5
9.0
0.9
0.9
5.3
9.9
0.7
0.6
www.angelbroking.com
Stock Watch
June 23, 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
544
-
800
1,539
1,801
12.8
12.7
59.0
72.1
9.2
7.5
1.4
1.2
18.6
16.8
0.5
0.4
Sadbhav Engineering
Neutral
291
-
4,995
3,186
3,598
10.2
10.3
8.0
9.0
36.4
32.4
3.4
3.0
9.4
9.9
1.9
1.7
NBCC
Buy
187
220
11,202
5,838
7,428
6.0
7.9
5.2
8.2
35.9
22.8
1.1
0.9
21.9
28.2
1.7
1.2
MEP Infra
Neutral
38
-
620
1,956
1,876
28.1
30.5
1.3
3.0
29.4
12.7
6.2
4.2
21.2
32.8
1.7
1.7
SIPL
Neutral
99
-
3,469
675
1,042
62.4
64.7
-
-
3.7
4.2
-
-
16.8
11.3
Engineers India
Neutral
200
-
6,722
1,667
1,725
13.5
16.0
9.7
11.4
20.6
17.5
2.4
2.3
11.7
13.4
2.8
2.8
Financials
Allahabad Bank
Neutral
60
-
4,367
8,569
9,392
2.8
2.9
16.3
27.5
3.7
2.2
0.4
0.3
7.6
11.9
-
-
Axis Bank
Neutral
516
-
123,127
26,204
29,738
3.6
3.5
34.5
35.4
15.0
14.6
2.4
2.1
16.8
14.9
-
-
Bank of Baroda
Neutral
149
-
34,320
18,802
21,088
2.0
2.2
(7.4)
13.0
11.5
1.2
0.9
(4.2)
7.3
-
-
Bank of India
Neutral
96
-
8,925
15,972
17,271
1.9
2.0
15.3
33.4
6.2
2.9
0.3
0.2
3.6
7.6
-
-
Canara Bank
Neutral
212
-
11,490
15,441
16,945
2.0
2.1
46.6
70.4
4.6
3.0
0.4
0.4
8.0
11.2
-
-
Dena Bank
Neutral
37
-
2,434
3,440
3,840
2.1
2.3
7.3
10.0
5.0
3.6
0.4
0.3
6.1
7.9
-
-
Dewan Housing Finance Buy
200
270
5,840
1,828
2,225
2.9
3.0
24.9
29.7
8.0
6.8
1.2
1.1
15.1
16.1
-
-
Equitas Holdings
Buy
177
235
5,928
679
1,076
12.4
11.7
6.2
6.7
28.5
26.4
3.6
2.6
13.3
12.5
-
-
Federal Bank
Neutral
56
-
9,553
3,279
3,787
2.8
2.9
3.9
5.5
14.1
10.1
1.1
1.1
8.4
10.8
-
-
HDFC
Neutral
1,238
-
195,755
10,358
11,852
3.3
3.3
41.1
47.0
30.2
26.3
5.7
5.2
24.7
24.9
-
-
HDFC Bank
Accumulate
1,170
1,262
296,315
38,606
47,696
4.4
4.5
48.8
61.4
24.0
19.1
4.1
3.5
18.7
20.0
-
-
ICICI Bank
Neutral
239
-
138,850
34,279
39,262
3.3
3.3
21.0
24.4
11.4
9.8
1.9
1.6
14.4
14.7
-
-
IDBI Bank
Neutral
70
-
14,381
9,625
10,455
1.8
1.8
8.5
14.2
8.2
4.9
0.5
0.5
5.9
9.3
-
-
Indian Bank
Neutral
135
-
6,491
6,160
6,858
2.5
2.5
24.5
29.8
5.5
4.5
0.4
0.4
7.7
8.6
-
-
LIC Housing Finance
Buy
483
592
24,380
3,179
3,758
2.6
2.6
32.9
40.6
14.7
11.9
2.7
2.3
19.6
20.7
-
-
Oriental Bank
Neutral
101
-
3,489
7,643
8,373
2.4
2.4
37.2
45.4
2.7
2.2
0.2
0.2
8.2
9.4
-
-
Punjab Natl.Bank
Neutral
97
-
19,008
23,122
26,022
2.8
2.8
7.0
21.6
13.8
4.5
0.7
0.6
3.4
10.0
-
-
South Ind.Bank
Neutral
20
-
2,707
1,965
2,185
2.5
2.5
2.5
3.3
8.1
6.1
0.8
0.7
9.5
11.7
-
-
St Bk of India
Neutral
213
-
165,192
79,958
86,061
2.6
2.6
13.4
20.7
15.9
10.3
1.3
1.2
11.5
12.8
-
-
Union Bank
Neutral
125
-
8,562
12,646
14,129
2.3
2.4
31.0
39.1
4.0
3.2
0.4
0.4
9.8
11.4
-
-
Vijaya Bank
Neutral
37
-
3,691
3,536
3,827
1.9
1.9
5.5
6.7
6.7
5.6
0.6
0.5
7.8
8.8
-
-
Yes Bank
Neutral
1,079
-
45,413
7,190
9,011
3.2
3.3
58.2
69.7
18.5
15.5
3.3
2.8
19.2
19.6
-
-
FMCG
Asian Paints
Neutral
985
-
94,486
15,534
17,445
17.7
16.8
18.4
19.6
53.6
50.2
19.0
17.9
34.6
35.6
5.9
5.3
www.angelbroking.com
Stock Watch
June 23, 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
2,613
-
31,347
8,481
9,795
14.0
14.1
65.5
78.3
39.9
33.4
18.9
15.5
38.3
41.2
3.6
3.1
Colgate
Neutral
884
-
24,030
4,136
4,632
22.5
23.3
22.2
25.3
39.8
34.9
24.2
21.6
68.6
67.5
5.7
5.1
Dabur India
Neutral
310
-
54,463
9,370
10,265
17.6
17.3
7.3
8.1
42.2
38.2
10.9
10.0
31.7
30.6
5.6
5.1
GlaxoSmith Con*
Neutral
5,911
-
24,859
4,519
5,142
19.6
19.8
164.3
191.2
36.0
30.9
10.0
8.5
30.8
29.9
4.9
4.3
Godrej Consumer
Neutral
1,574
-
53,598
9,003
10,335
18.1
18.7
34.1
41.8
46.2
37.7
10.0
8.5
23.9
24.8
6.1
5.3
HUL
Neutral
860
-
186,037
33,299
35,497
17.1
17.1
18.9
20.0
45.5
43.0
39.9
34.7
87.6
80.8
5.4
5.1
ITC
Accumulate
355
380
285,314
36,837
39,726
38.8
38.7
12.2
13.5
29.0
26.3
8.1
7.1
27.8
26.9
7.2
6.7
Marico
Neutral
260
-
33,525
6,151
6,966
17.2
17.3
5.4
6.4
48.1
40.6
15.1
11.9
33.2
32.4
5.3
4.7
Nestle*
Neutral
6,490
-
62,577
9,393
10,507
22.2
22.3
106.8
121.8
60.8
53.3
21.4
19.2
34.8
36.7
6.5
5.7
Tata Global
Accumulate
127
137
8,031
8,635
9,072
9.8
9.9
5.8
7.2
21.9
17.7
2.0
1.9
6.8
7.4
1.0
0.9
Procter & Gamble
Buy
6,210
7,369
20,158
2,588
2,939
23.3
23.2
130.2
146.2
47.7
42.5
95.1
91.2
27.6
25.3
7.4
6.4
Hygiene
IT
HCL Tech^
Buy
770
1,000
108,628
37,061
30,781
21.5
20.5
51.4
40.0
15.0
19.3
3.9
2.8
20.1
20.3
2.7
2.9
Infosys
Accumulate
1,199
1,374
275,300
62,441
70,558
27.5
27.5
59.0
65.3
20.3
18.4
4.1
3.7
22.2
22.4
3.8
3.3
TCS
Accumulate
2,666
3,004
525,218
108,646
122,770
28.3
28.3
123.7
141.0
21.6
18.9
7.1
6.5
33.1
34.6
4.4
3.8
Tech Mahindra
Buy
532
700
51,666
26,494
30,347
16.3
17.0
32.2
37.5
16.5
14.2
3.6
3.1
21.7
21.8
1.7
1.4
Wipro
Buy
563
680
139,064
50,808
56,189
23.7
23.8
37.3
40.7
15.1
13.8
2.9
2.6
19.2
17.7
2.2
1.8
Media
D B Corp
Neutral
377
-
6,919
2,025
2,187
27.4
27.4
17.4
18.9
21.6
20.0
4.9
4.4
22.9
23.7
3.4
3.1
HT Media
Neutral
77
-
1,797
2,495
2,673
12.9
13.2
6.8
7.2
11.4
10.7
0.9
0.8
7.5
7.8
0.3
0.2
Jagran Prakashan
Buy
173
205
5,643
2,107
2,355
33.5
28.0
10.1
10.8
17.2
16.0
4.0
3.5
23.3
21.7
2.8
2.4
Sun TV Network
Neutral
366
-
14,437
2,510
2,763
71.8
71.5
21.9
24.8
16.7
14.8
4.0
3.6
22.8
24.3
5.2
4.7
Hindustan Media
Neutral
270
-
1,982
914
1,016
21.7
21.5
21.9
23.3
12.3
11.6
2.2
1.9
18.0
16.2
1.6
1.4
Ventures
Metals & Mining
Coal India
Buy
317
380
200,008
76,167
84,130
19.9
22.3
22.4
25.8
14.1
12.3
5.1
5.0
35.5
41.0
2.0
1.7
Hind. Zinc
Neutral
175
-
73,795
14,641
14,026
50.4
50.4
17.7
16.0
9.9
10.9
1.5
1.4
16.2
13.2
2.7
2.5
Hindalco
Neutral
122
-
25,193
104,356
111,186
8.7
9.5
6.7
11.1
18.2
11.0
0.7
0.6
3.5
5.9
0.8
0.7
JSW Steel
Neutral
1,391
-
33,628
42,308
45,147
16.4
20.7
(10.3)
49.5
28.1
1.6
1.5
(1.0)
5.6
1.8
1.7
NMDC
Neutral
92
-
36,416
8,237
10,893
46.6
44.5
10.0
11.7
9.2
7.9
1.0
0.9
12.5
13.0
4.2
3.2
SAIL
Neutral
44
-
18,152
45,915
53,954
7.2
10.5
1.5
4.4
29.2
10.0
0.4
0.4
2.3
4.1
1.0
0.9
Vedanta
Neutral
127
-
37,578
71,445
81,910
26.2
26.3
12.9
19.2
9.8
6.6
0.7
0.6
7.2
8.9
1.0
0.8
Tata Steel
Neutral
332
-
32,244
126,760
137,307
8.9
11.3
6.4
23.1
52.2
14.4
1.1
1.0
2.0
7.1
0.8
0.8
www.angelbroking.com
Stock Watch
June 23, 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
138
-
25,929
11,323
12,490
49.4
51.0
20.7
20.7
6.7
6.7
0.4
0.4
6.4
6.1
1.4
0.7
GAIL
Neutral
375
-
47,555
64,856
70,933
9.1
9.6
24.0
28.9
15.7
13.0
1.3
1.3
8.8
9.6
0.9
0.8
ONGC
Neutral
218
-
186,724
154,564
145,998
36.8
37.4
20.8
22.6
10.5
9.7
1.0
0.9
10.1
9.7
1.4
1.6
Petronet LNG
Neutral
290
-
21,761
29,691
31,188
5.8
6.2
12.8
13.4
22.7
21.6
3.4
3.0
15.8
14.8
0.8
0.8
Indian Oil Corp
Accumulate
415
455
100,857
359,607
402,760
5.9
6.1
42.5
48.7
9.8
8.5
1.3
1.2
14.1
14.4
0.4
0.3
Reliance Industries
Neutral
981
-
317,922
304,775
344,392
12.6
13.4
91.3
102.6
10.7
9.6
1.2
1.1
11.8
12.0
1.0
0.8
Pharmaceuticals
Alembic Pharma
Neutral
535
-
10,089
3,145
3,483
31.9
16.2
38.2
18.7
14.0
28.6
6.3
5.3
57.9
20.1
3.1
2.9
Aurobindo Pharma
Accumulate
721
768
42,182
13,651
15,702
21.7
21.7
33.9
38.4
21.3
18.8
6.0
4.6
32.5
27.7
3.3
3.0
Aventis*
Accumulate
4,159
4,738
9,578
2,049
2,375
15.4
17.3
115.4
153.5
36.0
27.1
5.9
4.6
19.3
25.8
4.4
3.7
Cadila Healthcare
Buy
318
400
32,545
9,469
11,246
21.2
22.0
14.9
17.1
21.3
18.6
6.1
4.8
28.8
26.6
3.4
2.8
Cipla
Neutral
484
-
38,853
13,372
15,378
16.4
17.4
18.8
21.6
25.7
22.4
3.3
2.9
13.3
13.7
2.9
2.8
Dr Reddy's
Accumulate
3,103
3,476
52,920
15,471
17,479
24.6
24.6
138.2
152.4
22.5
20.4
4.1
3.5
19.7
18.7
3.4
3.0
Dishman Pharma
Neutral
134
-
2,163
1,733
1,906
21.5
21.5
10.1
10.0
13.3
13.4
1.6
1.4
10.5
11.2
1.8
1.5
GSK Pharma*
Neutral
3,451
-
29,234
2,741
3,528
16.5
18.9
44.2
60.1
78.1
57.4
17.2
17.1
21.2
29.9
10.3
8.0
Indoco Remedies
Neutral
260
-
2,397
977
1,112
14.9
18.2
9.0
13.2
28.9
19.7
4.1
3.5
15.1
19.2
2.6
2.3
Ipca labs
Buy
484
613
6,111
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
1,465
1,809
66,030
13,702
15,912
23.7
26.4
50.5
58.1
29.0
25.2
6.0
4.9
22.9
21.4
5.3
4.2
Sun Pharma
Buy
740
944
178,071
27,744
31,129
26.0
30.0
22.0
28.0
33.6
26.4
4.9
4.1
18.3
18.7
6.3
5.4
Power
Tata Power
Neutral
74
-
19,933
35,923
37,402
22.6
22.8
4.1
5.2
18.2
14.3
1.4
1.3
7.5
9.3
1.5
1.4
NTPC
Neutral
152
-
125,537
87,271
99,297
23.5
23.5
11.8
13.3
13.0
11.5
1.5
1.4
11.5
12.2
2.5
2.2
Power Grid
Accumulate
156
170
81,430
20,702
23,361
86.7
86.4
12.1
13.2
12.9
11.8
1.9
1.7
15.6
15.1
8.9
8.2
Real Estate
MLIFE
Buy
456
554
1,871
826
1,011
20.1
21.9
22.7
30.7
20.1
14.9
1.2
1.1
6.0
7.4
4.2
3.1
Telecom
Bharti Airtel
Neutral
363
-
145,086
101,748
109,191
32.1
31.7
12.0
12.5
30.3
29.0
2.1
2.0
6.9
6.7
2.1
1.9
Idea Cellular
Neutral
101
-
36,510
34,282
36,941
32.0
31.5
5.9
6.2
17.2
16.4
1.6
1.4
9.9
9.3
1.6
1.6
zOthers
Abbott India
Neutral
4,505
-
9,572
2,715
3,153
14.5
14.1
134.3
152.2
33.6
29.6
8.4
6.9
27.4
25.6
3.2
2.7
Bajaj Electricals
Buy
223
268
2,249
4,612
5,351
5.6
5.7
23.4
18.0
9.5
12.4
2.9
2.6
12.5
14.4
0.5
0.4
Finolex Cables
Neutral
351
-
5,361
2,520
2,883
12.2
12.0
12.7
14.2
27.7
24.7
3.8
3.3
13.6
13.5
1.9
1.6
Goodyear India*
Buy
517
631
1,192
1,800
1,600
11.7
11.5
58.7
52.9
8.8
9.8
2.0
1.7
24.6
18.7
0.4
0.4
Hitachi
Neutral
1,275
-
3,467
1,779
2,081
7.8
8.8
21.8
33.4
58.5
38.1
9.4
7.6
17.4
22.1
2.0
1.7
www.angelbroking.com
Stock Watch
June 23, 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
298
-
5,391
1,620
1,847
11.5
11.5
7.3
8.5
40.8
35.1
5.3
4.9
13.3
14.4
3.2
2.7
MRF
Buy
31,748
45,575
13,465
20,316
14,488
21.4
21.1
5,488.0
3,798.0
5.8
8.4
2.0
1.6
41.1
21.2
0.6
0.8
Page Industries
Neutral
13,498
-
15,056
1,929
2,450
19.8
20.1
229.9
299.0
58.7
45.2
25.9
18.0
52.1
47.1
7.8
6.1
Relaxo Footwears
Neutral
485
-
5,823
1,767
2,152
12.3
12.5
19.3
25.1
25.2
19.4
6.2
4.8
27.7
27.8
3.4
2.7
Siyaram Silk Mills
Buy
1,038
1,347
973
1,619
1,799
11.6
11.6
93.5
104.9
11.1
9.9
1.9
1.6
17.1
16.4
0.8
0.8
Styrolution ABS India* Neutral
600
-
1,054
1,271
1,440
8.6
9.2
32.0
41.1
18.7
14.6
1.9
1.7
10.7
12.4
0.8
0.7
TVS Srichakra
Buy
2,346
2,932
1,796
2,035
2,252
15.9
15.3
248.6
268.1
9.4
8.8
4.1
3.0
43.6
33.9
0.9
0.8
HSIL
Buy
266
310
1,924
2,123
2,384
16.1
16.5
15.0
18.9
17.7
14.1
1.4
1.3
8.0
9.4
1.3
1.1
Kirloskar Engines India
Neutral
260
-
3,760
2,403
2,554
8.6
9.9
9.2
10.5
28.3
24.8
2.7
2.6
9.7
10.7
1.2
1.1
Ltd
M M Forgings
Buy
434
546
524
511
615
21.7
21.6
43.1
55.8
10.1
7.8
1.8
1.5
19.9
21.2
1.2
0.9
Banco Products (India) Neutral
141
-
1,008
1,208
1,353
11.0
12.3
10.8
14.5
13.1
9.7
1.5
1.3
11.9
14.5
0.8
0.7
Competent Automobiles Neutral
140
-
86
1,040
1,137
3.2
3.1
25.7
28.0
5.5
5.0
0.8
0.7
15.0
14.3
0.1
0.1
Nilkamal
Neutral
1,140
-
1,701
1,871
2,031
10.7
10.5
63.2
69.8
18.1
16.4
2.9
2.5
17.6
16.6
1.0
0.8
Visaka Industries
Accumulate
153
162
242
1,020
1,120
8.7
9.1
13.9
20.1
11.0
7.6
0.7
0.7
6.4
8.7
0.5
0.4
Transport Corporation of
Neutral
307
-
2,354
2,830
3,350
8.8
9.0
14.4
18.3
21.4
16.8
3.3
2.9
15.4
17.1
1.0
0.8
India
Elecon Engineering
Neutral
62
-
675
1,359
1,482
10.3
13.7
0.8
3.9
77.2
15.9
1.3
1.2
1.6
7.8
0.9
0.8
Surya Roshni
Buy
163
201
713
2,992
3,223
8.1
8.4
14.7
18.3
11.1
8.9
1.0
0.9
9.7
11.0
0.5
0.5
MT Educare
Neutral
163
-
650
286
366
18.3
17.7
7.7
9.4
21.1
17.4
4.5
3.9
20.2
21.1
2.2
1.7
Radico Khaitan
Buy
92
125
1,228
1,543
1,659
12.6
13.0
5.8
6.3
16.0
14.6
1.4
1.3
8.5
8.6
1.3
1.2
Garware Wall Ropes
Buy
360
460
787
828
898
11.2
10.3
28.3
29.0
12.7
12.4
2.1
1.8
16.8
14.9
0.9
0.8
Wonderla Holidays
Neutral
395
-
2,232
206
308
44.0
43.6
9.0
12.9
43.9
30.6
6.0
5.4
13.7
17.8
10.7
7.1
Linc Pen & Plastics
Neutral
231
-
342
344
382
9.1
9.1
12.4
13.1
18.7
17.7
3.4
3.0
18.0
16.7
1.1
1.0
The Byke Hospitality
Neutral
159
-
639
222
287
20.5
20.5
5.6
7.6
28.3
21.1
5.3
4.4
18.9
20.8
2.9
2.2
Interglobe Aviation
Neutral
1,025
-
36,947
17,022
21,122
20.7
14.5
63.9
53.7
16.0
19.1
24.0
19.7
149.9
103.2
2.2
1.8
Coffee Day Enterprises
Neutral
254
-
5,237
2,692
2,964
17.0
18.6
-
4.7
-
53.6
3.1
2.9
0.2
5.5
2.3
2.2
Ltd
Navneet Education
Neutral
94
-
2,236
998
1,062
24.1
24.0
5.8
6.1
16.3
15.4
3.6
3.2
22.0
20.6
2.3
2.2
Navkar Corporation
Buy
203
265
2,896
347
408
43.2
42.9
6.7
6.8
30.5
30.0
2.2
2.1
7.3
6.9
8.8
8.0
UFO Moviez
Neutral
530
-
1,463
558
619
32.0
33.2
22.5
30.0
23.5
17.7
2.8
2.5
12.0
13.8
2.5
2.1
VRL Logistics
Neutral
309
-
2,815
1,725
1,902
16.5
16.7
12.2
14.6
25.4
21.2
5.3
4.6
20.8
21.9
1.8
1.6
www.angelbroking.com
Stock Watch
June 23, 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
920
-
1,573
2,565
3,229
1.3
1.5
15.2
22.8
60.6
40.4
4.9
4.3
8.0
10.7
0.5
0.4
S H Kelkar & Co.
Neutral
217
-
3,139
928
1,036
15.3
15.1
4.9
6.1
44.0
35.6
4.1
3.8
9.4
10.7
3.3
2.9
Quick Heal
Neutral
262
-
1,835
339
408
27.8
27.3
7.1
7.7
37.1
33.8
3.1
3.1
8.5
9.3
4.3
3.6
Narayana Hrudaya
Neutral
320
-
6,535
1,603
1,873
10.9
11.5
1.0
2.6
335.7
120.9
8.1
7.4
2.4
6.1
4.2
3.6
Manpasand Bever.
Neutral
533
-
2,668
540
836
19.9
19.6
10.2
16.9
52.0
31.6
4.2
3.8
8.1
12.0
4.6
2.9
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on June 22, 2016
www.angelbroking.com
Market Outlook
June 23, 2016
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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