 |
| CapitalStars Investment Adviser |
Market Live: Nifty below 10,900 in pre-opening, Sensex falls 250 pts; rupee opens weak Trends on SGX Nifty indicate a negative opening for the broader indices in India.
Market at pre-opening: Benchmark indices are trading weak in the pre-opening session.
The Sensex is down 46.70 points or 0.13% at 37164.92, and the Nifty down 66.40 points or 0.60% at 10931.
Brokerage view on stocks:
CLSA on SBI
Buy call, target cut to Rs 380 from Rs 420 per share
Higher slippage disappoints; Q1 net profit below expectations due on higher credit cost
Key disappointment was rise in its delinquency ratio to 3.4% of the past year loans
Jefferies on SBI
Buy call but cut target to Rs 370 from Rs 375 per share
Quarter did not have much to cheer about
Cut our EPS estimate for FY20 by 7.8% & FY21/22 by 3.2/5.5%
Kotak Institutional Equities on SBI
Maintain buy call on the stock; cut target to Rs 390 from Rs 410 per share
Reported a weak start to fy20 with slippages at 3% of loans
Higher slippage from agriculture & SME is seasonal in nature & less worrying
IDFC Securities on SBI
Management has revised guidance of core RoA to 0.5%-.6% from 0.6-0.7%
Cut earnings & target to Rs 365 per share; maintains outperform on inexpensive valuation
See downside risks to earnings from a weak macro, High Pension Costs & a larger watchlist
Citi on SBI
Maintain buy call with target cut to Rs 400 from Rs 415 per share
Healthy loan growth, slippages increase in Q1
Q1 net profit below our/consensus estimates
Morgan Stanley on ITC
Overweight on the stock with target at Rs 360 per share
Q1 results were weaker than we expected
Except for FMCG, EBIT growth across all business segments missed our estimate
HSBC on ITC
Q1 cigarette volume growth of 3-4% slightly below expectations
While valuation undemanding, taxation path remains a key risk
Maintain buy call, cut target to Rs 320 from Rs 330 per share
CLSA on ITC
Remain buyers on the stock with target at Rs 365 per share
Double-digit growth remained elusive for company cigarette biz which grew 8% in Q1
FMCG business reported strong EBITDA growth despite moderate topline show
Stock provides attractive risk-reward
IDFC Securities on ITC
Results in-line with 3% YoY volume growth on a base of 2%
From Q2FY20e onwards base becomes further unfavourable
Downgrade to neutral with target at Rs 275 per share
Kotak Institutional Equities on ITC
Cigarette volume growth was modest at 3% (Our Estimate) despite stable taxation
See a likely leg down in EBIT growth potential to 7-9% from 9-11%
FMCG sales growth moderated to 8% (From 11-12%)
Add rating on the stock, cut target to Rs 315 from Rs 335 per share
Citi on HDFC
Buy call, raise target to Rs 2,570 from Rs 2,360 per share
Q1 AUM growth moderates further; spreads stable
Liability side should benefit from falling wholesale costs
Raise FY20 net profit estimate by 8% to factor Gruh stake sale
CLSA on HDFC
Maintains buy call with target at Rs 2,770 per share
Q1 net profit boosted by gain on Gruh Fin stake sale
Asset quality faced some pressure with downgraded exposure to Jet Airways
HDFC remains our top pick
Kotak Institutional Equities on HDFC
Retain add with target at Rs 2,325 per share
Q1 moderate on account of muted growth on non-retail book & higher funding cost
Expect its affordable housing business to drive medium-term growth
Jefferies on HDFC
Buy call, increase target to Rs 2,435 from Rs 2,310 per share
Bottomline was boosted by Gruh stake sale, though growth slowed
Cut FY21/22e EPS estimate by 7-9%, forecast AUM CAGR of 13.4%
Kotak Institutional Equities on Nestle India
Maintain reduce with target at Rs 10,700 per share
Earnings weighed down by weak gross margins mainly due to sharp rise in milk prices
Domestic revenues grew a strong 13% YoY
CLSA on Nestle India
Outperform stays, raise target to Rs 12,415 from Rs 11,750 per share
Q2 clearly indicates management rising obsession with growth, which is the key positive
Announcement on capex also points to its growth ambition
Cut EPS by 2-5%, but this is due to a special dividend, which warrants a cut in other income
Citi on Exide
Buy call with target cut To Rs 265 from Rs 290 per share
Cut revenue estimates by 7% over FY20-22, primarily due to cuts in our auto segment revenues
May see a rebound in FY22 if cycle revives
Increase margin estimates slightly given weak lead prices & fructifying cost-reduction moves
Citi on Ceat
Buy call with target cut to Rs 1,280 from Rs 1,400 per share
Q1 steady replacement demand, weak OEM offtake
OEM demand has been very weak & reflected in sharp correction in stock price
Cut FY20-22 earnings estimates by 3-10%
CLSA on GSPL
Buy call; target raised to Rs 285 from Rs 270 per share
Q1 net profit stood in-line with our estimate
EBITDA/EBIT in-line as 3% beat on volume offset by a miss on tariffs
Volumes for Gujarat Gas could lead to earnings upgrades
CLSA on Inox Leisure
Retain buy call with target raised to Rs 402 from Rs 394 per share
Q1 revenue grew by 19% YoY driven by healthy screen additions
Cut FY20/21 estimates by 26% to incorporate the impact of Ind-As
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
Visit our Link : https://bit.ly/2u2GUhK
Visit My Website : https://bit.ly/1h8KZUM
CAPITALSTARS CALL US : 9977499927
0 comments:
Post a Comment