Market Outlook
February 15, 2017
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
Indian markets are likely to start off on a positive note today tracking SGX nifty and
BSE Sensex
(0.0)
(12)
28,339
global cues.
Nifty
(0.1)
(13)
8,792
U.S. markets closed higher Tuesday, posting new record highs, as investors digested
Mid Cap
(0.6)
(75)
13,343
testimony from the top Federal Reserve official.
Small Cap
(0.6)
(85)
13,439
The European markets were relatively flat during Tuesday's trading session. After
Bankex
0.1
20
23,226
fluctuating between small gains and losses over the course of the day, the markets
finished with mixed results. Traders appeared reluctant to make any big moves while
Global Indices
Chg (%)
(Pts)
(Close)
Federal Reserve Chair Janet Yellen testified before the U.S. Congress.
Dow Jones
0.5
92
20,504
Indian markets ended flat with a negative bias on Tuesday, mirroring weak Asian
Nasdaq
0.3
19
5,783
markets and mixed cues from Europe, as investors awaited Fed chief Janet Yellen's
FTSE
(0.1)
(10)
7,269
testimony before Congressional committees today and tomorrow.
Nikkei
(1.1)
(220)
19,239
News Analysis
Hang Seng
(0.0)
(8)
23,703
Review: Sun Pharmaceuticals
Shanghai Com
0.0
1
3,218
Detailed analysis on Pg2
Investor’s Ready Reckoner
Advances / Declines
BSE
NSE
Key Domestic & Global Indicators
Advances
1,063
563
Declines
1,788
1,081
Stock Watch: Latest investment recommendations on 150+ stocks
Refer Pg5 onwards
Unchanged
166
79
Top Picks
Volumes (` Cr)
CMP
Target
Upside
Company
Sector
Rating
(`)
(`)
(%)
BSE
2,694
Amara Raja Batteries Auto & Auto Ancillary
Buy
860
1,009
17.3
NSE
19,942
Alkem Laboratories
Pharmaceuticals
Accumulate
1,874
1,996
6.5
HCL Tech
IT
Buy
830
1,000
20.4
Net Inflows (` Cr)
Net
Mtd
Ytd
Power Grid Corp.
Power
Accumulate
201
223
11.2
FII
318
2,510
2,464
Navkar Corp.
Others
Buy
167
265
58.5
More Top Picks on Pg3
MFs
(12)
1,054
6,269
Key Upcoming Events
Top Gainers
Price (`)
Chg (%)
Previous
Consensus
Date
Region
Event Description
Reading
Expectations
Gvkpil
7
10.9
Feb 15 Germany GDP na (YoY)
1.2
1.4
Fortis
196
5.3
Feb 15 India
Euro-Zone GDP s.a. (QoQ)
0.5
--
Sjvn
35
5.2
Feb 15 UK
Jobless claims change
(10.1)
0.5
Mmtc
66
5.1
Feb 15 US
Industrial Production
0.83
0.0
Relinfra
562
4.9
Feb 15 US
Consumer price index (MoM)
0.3
0.3
Feb 16 US
Initial Jobless claims
234.0
244.5
More Events on Pg4
Top Losers
Price (`)
Chg (%)
Repcohome
668
(8.3)
Hindpetro
546
(5.6)
Unitech
6
(5.2)
Suzlon
17
(5.0)
Shreecem
15,191
(4.5)
As on February 14, 2017
www.angelbroking.com
Market Outlook
February 15, 2017
News Analysis
Review
Sun Pharmaceuticals (CMP: `650 / TP: `890 / Upside: 30.3%)
Sun Pharmaceuticals, posted results marginally lower than expected on sales front,
while OPM, came in much below expectation, and net profit slightly above
expectations (on back of the other income coming in higher than expectations).
Sales came in at `7,683cr V/s `7800cr expected and V/s `7047cr in 3QFY2016,
a yoy growth of 9.0%. Indian sales at `1,969cr, posted a yoy growth of 5%, while
USA finished dosage sales (45% of sales) at US$507mn, posted a yoy growth of
4%. On EBITDA front, the company posted an EBITDA of 28.6% V/s 33.6%
expected V/s 30.3% in 3QFY2016. Consequently, Adj. PAT came in at `1,722cr
V/s `1,733cr expected V/s `1,417cr in 3QFY2016, a yoy growth of 21.5% yoy.
The PAT growth came in higher than the EBDITA growth of mere 4.0% yoy; mainly
on back of higher other income. Other income came in at `351.6cr V/s `254.7cr
in 3QFY2016, a yoy growth of 38.0%. We maintain our Buy rating on the stock.
Y/E
Sales OPM
PAT
EPS ROE P/E P/BV EV/EBITDA EV/Sales
March
(` cr)
(%)
(` cr)
(`)
(%)
(x)
(x)
(x)
(x)
FY2017E
31,129
32.0
7,260
30.2
20.0
21.6
3.5
14.6
4.7
FY2018E
35,258
32.9
8,495
35.3
20.1
18.4
2.9
11.9
3.9
Economic and Political News
Economy to grow at 7.4% next FY: India Ratings and Research
Fuel prices pushes WPI inflation to 5.25 per cent in January
Income tax refunds up 42% at `1.42 lakh crore
Corporate News
IVRCL Q3 net loss shrinks to `249cr
SpiceJet Q3 net dips 24.5% at `181cr on note ban, high fuel cost
Fortis Healthcare Q3 net profit at `453cr
Adani Ports Q3 net profit jumps 26% to `850cr
Quarterly Bloomberg Brokers Consensus Estimate
Nestle India Ltd
- Feb 15, 2017
Particulars ( ` cr)
4QCY16E
4QCY15
y-o-y (%)
3QCY16 q-o-q (%)
Net sales
2,321
1,946
19.2
2,346
(1.1)
EBITDA
430
369
16.3
453
(5.2)
EBITDA margin (%)
18.5
19.0
19.3
Net profit
259
183
41.4
269
(3.8)
www.angelbroking.com
Market Outlook
February 15, 2017
Top Picks ★★★★★
Large Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
To outpace battery industry growth due to better
Amara Raja Batteries
14,695
860
1,009
17.3
technological products leading to market share gains in both
the automotive OEM and replacement segments.
Strong growth in domestic business due to its leadership in
Alkem Laboratories
22,409
1,874
1,996
6.5
acute therapeutic segment. Alkem expects to launch more
products in USA, which bodes for its international business.
The stock is trading at attractive valuations and is factoring
HCL Tech
1,17,172
830
1,000
20.4
all the bad news.
Back on the growth trend, expect a long term growth of 14%
Infosys
2,26,777
987
1,249
26.5
to be a US$20bn in FY2020.
Strong order backlog and improvement in execution would
Larsen & Toubro
1,39,295
1,494
1,634
9.4
trigger the growth for the L&T
One of the largest pharma companies with strong
Lupin
64,793
1,435
1,809
26.0
international presence. It has a rich pipeline of ANDAs which
is also one of the largest among the generic companies.
Going forward, we expect the company to report strong top-
Power Grid Corporation
1,04,946
201
223
11.2
line CAGR of ~16% and bottom-line CAGR of ~19% over
FY16-18 on back of strong capitalization guidance
Source: Company, Angel Research
Mid Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
We expect the company would report strong profitability
Asian Granito
833
277
351
26.8
owing to better product mix, higher B2C sales and
amalgamation synergy.
Among the top 4 players in the consumer durables segment.
Bajaj Electricals
2,591
256
295
15.2
Improved profitability backed by turn around in E&P segment.
Strong order book lends earnings visibility.
Favourable outlook for the AC industry to augur well for
Cooling products business which is out pacing the market
Blue Star
5,236
548
634
15.7
growth. EMPPAC division's profitability to improve once
operating environment turns around.
With a focus on the low and medium income (LMI) consumer
Dewan Housing Finance
9,525
304
350
15.1
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
adequate CAR. ROE & ROA likely to remain decent as risk of
Equitas Holdings
6,000
179
235
31.4
dilution remains low. Attractive valuations considering
growth.
Economic recovery to have favourable impact on advertising
& circulation revenue growth. Further, the acquisition of a
Jagran Prakashan
6,159
188
225
19.4
radio business (Radio City) would also boost the company's
revenue growth.
High order book execution in EPC segment, rising B2C sales
KEI Industries
1,370
176
207
17.6
and higher exports to boost the revenues and profitability
Speedier execution and speedier sales, strong revenue
Mahindra Lifespace
1,436
350
522
49.2
visibilty in short-to-long run, attractive valuations
Higher growth in domestic branded sales and healthy export
Mirza International
1,102
92
107
16.8
to boost the profitability.
Massive capacity expansion along with rail advantage at ICD
Navkar Corporation
2,384
167
265
58.5
as well CFS augurs well for the company
Market leadership in Hindi news genre and no. 2 viewership
ranking in English news genre, exit from the radio business,
TV Today Network
1,609
270
385
42.8
and anticipated growth in ad spends by corporates to benefit
the stock.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
February 15, 2017
Key Upcoming Events
Result Calendar
Date
Company
Feb 15, 2017
Nestle, CESC
Feb 20, 2017
Ambuja Cements
Feb 21, 2017
ITD Cementation
Feb 27, 2017
Vesuvius India
Source: Bloomberg, Angel Research
Global economic events release calendar
Date
Time
Country
Event Description
Unit
Period
Bloomberg Data
Last Reported Estimated
Feb 15, 2017
12:30PM
Germany
GDP nsa (YoY)
% Change
4Q P
1.20
1.40
India
Imports YoY%
% Change
Jan
0.50
--
3:00PM
UK
Jobless claims change
% Change
Jan
(10.10)
0.50
7:45PM
US
Industrial Production
%
Jan
0.83
--
7:00PM
US
Consumer price index (mom)
% Change
Jan
0.30
0.30
Feb 16, 2017
7:00PM
US
Initial Jobless claims
Thousands
Feb 11
234.00
244.50
7:00PM
US
Housing Starts
Thousands
Jan
1,226.00
1,226.00
7:00PM
US
Building permits
Thousands
Jan
1,228.00
1,230.00
Feb 20, 2017
8:30PM
Euro Zone
Euro-Zone Consumer Confidence
Value
Feb A
(4.90)
--
Feb 21, 2017
2:00PM
Germany
PMI Services
Value
Feb P
53.40
--
2:00PM
Germany
PMI Manufacturing
Value
Feb P
56.40
--
Feb 22, 2017
8:30PM
US
Existing home sales
Million
Jan
5.49
5.55
3:30PM
Euro Zone
Euro-Zone CPI (YoY)
%
Jan F
1.80
--
3:00PM
UK
GDP (YoY)
% Change
4Q P
2.20
--
Feb 24, 2017
8:30PM
US
New home sales
Thousands
Jan
536.00
575.00
Feb 28, 2017
8:30PM
US
Consumer Confidence
S.A./ 1985=100
Feb
111.80
111.00
7:00PM
US
GDP Qoq (Annualised)
% Change
4Q S
1.90
2.00
Mar 1, 2017
2:25PM
Germany
Unemployment change (000's)
Thousands
Feb
(26.00)
--
3:00PM
UK
PMI Manufacturing
Value
Feb
55.90
--
Source: Bloomberg, Angel Research
Market Outlook
February 15, 2017
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
9.0
7.0
8.3
5.7
7.9
6.0
8.0
7.5
7.5
7.6
7.3
5.0
7.2
7.1
6.6
6.7
4.0
7.0
6.4
3.0
2.2
5.8
1.9
6.0
2.0
1.3
0.7
1.0
0.3
5.0
-
4.0
(1.0)
(0.7)
(0.4)
(2.0)
(1.3)
3.0
(1.8)
(3.0)
(2.5)
Source: MOSPI, Angel Research
Source: CSO, 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
5.7
5.8
5.8
6.0
5.3
5.5
52.0
5.1
4.8
5.0
4.4
4.2
50.0
3.6
4.0
3.4
48.0
3.0
46.0
2.0
44.0
1.0
42.0
-
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
15.0
7.00
10.0
6.50
5.0
6.00
0.0
5.50
(5.0)
5.00
(10.0)
4.50
(15.0)
4.00
(20.0)
3.50
(25.0)
(30.0)
3.00
Source: Bloomberg, Angel Research
Source: RBI, Angel Research
www.angelbroking.com
Market Outlook
February 15, 2017
Global watch
Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries
(%)
8.0
6.8
0.7
5.3
6.0
4.9
4.3
4.0
3.2
2.2
1.9
1.5
2.0
1.1
1.1
-
(2.0)
(0.4)
(4.0)
(2.9)
Source: Bloomberg, Angel Research
Exhibit 2: 2016 GDP Growth projection by IMF (%, yoy) across select developing and developed countries
(%)
10.0
7.6
8.0
6.6
6.0
4.9
4.3
4.0
3.2
1.8
1.7
1.6
2.0
1.3
(0.8)
0.5
(3.3)
0.1
-
(2.0)
(4.0)
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
www.angelbroking.com
Market Outlook
February 15, 2017
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
66,713
4.3
12.7
62.9
Russia
Micex
2,142
(2.4)
6.2
21.0
India
Nifty
8,792
4.6
8.4
20.5
China
Shanghai Composite
3,218
1.6
3.0
17.7
South Africa
Top 40
45,437
(1.4)
0.9
8.0
Mexico
Mexbol
47,391
2.9
5.4
8.7
Indonesia
LQ45
894
1.3
1.8
6.6
Malaysia
KLCI
1,709
2.2
2.7
2.8
Thailand
SET 50
982
0.2
4.0
21.1
USA
Dow Jones
20,504
3.1
9.0
24.6
UK
FTSE
7,269
(0.9)
8.0
20.5
Japan
Nikkei
19,239
(0.3)
18.4
12.9
Germany
DAX
11,772
1.2
9.7
23.0
France
CAC
4,896
(0.5)
7.9
17.8
Source: Bloomberg, Angel Research
www.angelbroking.com
Stock Watch
February 15, 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
Neutral
239
-
4,647
1,937
2,164
13.3
14.3
9.0
11.0
26.6
21.7
4.6
4.0
18.4
19.8
2.5
2.2
United Phosphorus
Neutral
716
-
36,288
15,176
17,604
18.5
18.5
37.4
44.6
19.1
16.1
3.8
3.1
21.4
21.2
2.5
2.2
Auto & Auto Ancillary
Ashok Leyland
Buy
92
111
26,253
20,021
21,915
11.6
11.9
4.5
5.3
20.5
17.3
4.2
3.7
20.6
21.5
1.3
1.1
Bajaj Auto
Neutral
2,769
-
80,118
25,093
27,891
19.5
19.2
143.9
162.5
19.2
17.0
5.4
4.6
30.3
29.4
3.0
2.6
Bharat Forge
Neutral
1,035
-
24,085
7,726
8,713
20.5
21.2
35.3
42.7
29.3
24.2
5.4
4.9
18.9
20.1
3.2
2.8
Eicher Motors
Neutral
25,315
-
68,867
16,583
20,447
17.5
18.0
598.0
745.2
42.3
34.0
14.5
11.0
41.2
38.3
3.9
3.1
Gabriel India
Accumulate
113
130
1,627
1,544
1,715
9.0
9.3
5.4
6.3
21.0
18.0
4.0
3.5
18.9
19.5
1.0
0.9
Hero Motocorp
Accumulate
3,161
3,446
63,125
28,083
30,096
15.3
15.7
171.8
187.0
18.4
16.9
6.4
5.4
30.1
27.9
2.1
1.9
Jamna Auto Industries Neutral
199
-
1,587
1,486
1,620
9.8
9.9
15.0
17.2
13.3
11.6
2.9
2.5
21.8
21.3
1.1
1.0
L G Balakrishnan & Bros Neutral
556
-
872
1,302
1,432
11.6
11.9
43.7
53.0
12.7
10.5
1.8
1.6
13.8
14.2
0.7
0.7
Mahindra and Mahindra Neutral
1,302
-
80,866
46,534
53,077
11.6
11.7
67.3
78.1
19.3
16.7
3.1
2.8
15.4
15.8
1.7
1.5
Maruti
Accumulate
5,940
6,560
179,436
67,822
83,288
16.0
16.4
253.8
312.4
23.4
19.0
5.4
4.4
23.0
22.9
2.3
1.8
Minda Industries
Neutral
377
-
2,994
2,728
3,042
9.0
9.1
68.2
86.2
5.5
4.4
1.3
1.0
23.8
24.3
1.1
1.0
Motherson Sumi
Neutral
353
-
49,470
45,896
53,687
7.8
8.3
13.0
16.1
27.0
21.9
8.7
7.0
34.7
35.4
1.1
1.0
Rane Brake Lining
Neutral
972
-
769
511
562
11.3
11.5
28.1
30.9
34.6
31.4
5.3
4.8
15.3
15.0
1.7
1.5
Setco Automotive
Neutral
36
-
480
741
837
13.0
13.0
15.2
17.0
2.4
2.1
0.4
0.4
15.8
16.3
1.0
0.9
Tata Motors
Neutral
487
-
140,549
300,209
338,549
8.9
8.4
42.7
54.3
11.4
9.0
1.8
1.5
15.6
17.2
0.6
0.5
TVS Motor
Neutral
409
-
19,448
13,390
15,948
6.9
7.1
12.8
16.5
32.1
24.7
8.0
6.3
26.3
27.2
1.5
1.2
Amara Raja Batteries
Buy
860
1,009
14,695
5,305
6,100
16.0
16.3
28.4
34.0
30.3
25.3
5.8
4.9
19.3
19.3
2.8
2.4
Exide Industries
Neutral
214
-
18,169
7,439
8,307
15.0
15.0
8.1
9.3
26.4
23.0
3.7
3.3
14.3
16.7
2.1
1.9
Apollo Tyres
Buy
176
235
8,951
12,877
14,504
14.3
13.9
21.4
23.0
8.2
7.7
1.3
1.1
16.4
15.2
0.9
0.8
Ceat
Buy
1,094
1,450
4,423
7,524
8,624
13.0
12.7
131.1
144.3
8.3
7.6
1.5
1.3
19.8
18.6
0.7
0.6
JK Tyres
Neutral
113
-
2,564
7,455
8,056
15.0
15.0
21.8
24.5
5.2
4.6
1.1
0.9
22.8
21.3
0.5
0.4
Swaraj Engines
Neutral
1,388
-
1,724
660
810
15.2
16.4
54.5
72.8
25.5
19.1
7.9
7.2
31.5
39.2
2.5
2.0
Subros
Neutral
200
-
1,202
1,488
1,681
11.7
11.9
6.4
7.2
31.3
27.9
3.3
3.0
10.8
11.4
1.0
0.9
Indag Rubber
Neutral
173
-
454
286
326
19.8
16.8
11.7
13.3
14.8
13.0
2.5
2.3
17.8
17.1
1.2
1.1
Capital Goods
ACE
Neutral
57
-
567
709
814
4.1
4.6
1.4
2.1
40.9
27.3
1.7
1.6
4.4
6.0
1.0
0.8
BEML
Neutral
1,289
-
5,370
3,451
4,055
6.3
9.2
31.4
57.9
41.1
22.3
2.5
2.2
6.3
10.9
1.7
1.4
Bharat Electronics
Neutral
1,510
-
33,726
8,137
9,169
16.8
17.2
58.7
62.5
25.7
24.2
4.0
3.5
44.6
46.3
3.2
2.8
www.angelbroking.com
Stock Watch
February 15, 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
Buy
337
407
11,151
6,511
7,514
7.9
8.7
12.9
16.3
26.1
20.7
4.7
4.1
16.7
18.5
1.5
1.3
BGR Energy
Neutral
145
-
1,048
16,567
33,848
6.0
5.6
7.8
5.9
18.6
24.6
1.1
1.0
4.7
4.2
0.2
0.1
BHEL
Neutral
157
-
38,403
28,797
34,742
-
2.8
2.3
6.9
68.2
22.7
1.2
1.1
1.3
4.8
1.0
0.7
Blue Star
Buy
548
634
5,236
4,283
5,077
5.9
7.3
14.9
22.1
36.8
24.8
7.2
6.0
20.4
26.4
1.3
1.1
Crompton Greaves
Neutral
66
-
4,162
5,777
6,120
5.9
7.0
3.3
4.5
20.1
14.8
0.9
0.8
4.4
5.9
0.7
0.6
Greaves Cotton
Neutral
136
-
3,331
1,755
1,881
16.8
16.9
7.8
8.5
17.5
16.1
3.5
3.3
20.6
20.9
1.6
1.5
Inox Wind
Neutral
178
-
3,949
5,605
6,267
15.7
16.4
24.8
30.0
7.2
5.9
2.0
1.5
25.9
24.4
0.8
0.6
KEC International
Neutral
162
-
4,174
9,294
10,186
7.9
8.1
9.9
11.9
16.4
13.6
2.4
2.1
15.6
16.3
0.7
0.6
KEI Industries
Buy
176
207
1,370
2,682
3,058
10.4
10.0
11.7
12.8
15.0
13.8
3.0
2.5
20.1
18.2
0.7
0.6
Thermax
Neutral
860
-
10,247
5,421
5,940
7.3
7.3
25.7
30.2
33.5
28.5
4.1
3.7
12.2
13.1
1.8
1.6
VATech Wabag
Buy
490
681
2,674
3,136
3,845
8.9
9.1
26.0
35.9
18.9
13.7
2.4
2.0
13.4
15.9
0.8
0.6
Cement
ACC
Neutral
1,468
-
27,567
11,225
13,172
13.2
16.9
44.5
75.5
33.0
19.4
3.1
2.9
11.2
14.2
2.5
2.1
Ambuja Cements
Neutral
238
-
47,199
9,350
10,979
18.2
22.5
5.8
9.5
41.0
25.0
3.4
3.1
10.2
12.5
5.1
4.3
India Cements
Neutral
157
-
4,830
4,364
4,997
18.5
19.2
7.9
11.3
19.9
13.9
1.4
1.4
8.0
8.5
1.9
1.6
JK Cement
Neutral
843
-
5,895
4,398
5,173
15.5
17.5
31.2
55.5
27.0
15.2
3.2
2.8
12.0
15.5
1.9
1.6
J K Lakshmi Cement
Neutral
387
-
4,550
2,913
3,412
14.5
19.5
7.5
22.5
51.6
17.2
3.2
2.7
12.5
18.0
2.2
1.8
Orient Cement
Neutral
137
-
2,810
2,114
2,558
18.5
20.5
8.1
11.3
16.9
12.1
2.5
2.1
9.0
14.0
2.0
1.5
UltraTech Cement
Neutral
3,715
-
101,953
25,768
30,385
21.0
23.5
111.0
160.0
33.5
23.2
4.3
3.7
13.5
15.8
4.1
3.4
Construction
ITNL
Neutral
104
-
3,405
8,946
10,017
31.0
31.6
8.1
9.1
12.8
11.4
0.5
0.5
4.2
5.0
3.7
3.5
KNR Constructions
Neutral
172
-
2,423
1,385
1,673
14.7
14.0
41.2
48.5
4.2
3.6
0.8
0.7
14.9
15.2
1.9
1.6
Larsen & Toubro
Accumulate
1,494
1,634
139,295
111,017
124,908
11.0
11.0
61.1
66.7
24.5
22.4
2.9
2.7
13.1
12.9
2.3
2.1
Gujarat Pipavav Port
Neutral
166
-
8,003
705
788
52.2
51.7
5.0
5.6
33.1
29.6
3.3
2.9
11.2
11.2
11.0
9.3
Nagarjuna Const.
Neutral
84
-
4,675
8,842
9,775
9.1
8.8
5.3
6.4
15.9
13.1
1.3
1.2
8.2
9.1
0.7
0.6
PNC Infratech
Buy
104
143
2,671
2,350
2,904
13.1
13.2
9.0
8.8
11.6
11.8
0.4
0.4
15.9
13.9
1.3
1.0
Simplex Infra
Neutral
315
-
1,557
6,829
7,954
10.5
10.5
31.4
37.4
10.0
8.4
1.0
1.0
9.9
13.4
0.6
0.5
Power Mech Projects
Neutral
451
-
664
1,801
2,219
12.7
14.6
72.1
113.9
6.3
4.0
1.2
1.0
16.8
11.9
0.4
0.3
Sadbhav Engineering
Accumulate
283
298
4,851
3,598
4,140
10.3
10.6
9.0
11.9
31.4
23.8
3.3
2.9
9.9
11.9
1.6
1.4
NBCC
Neutral
287
-
17,211
7,428
9,549
7.9
8.6
8.2
11.0
35.0
26.1
1.7
1.4
28.2
28.7
2.0
1.5
MEP Infra
Neutral
39
-
636
1,877
1,943
30.6
29.8
3.0
4.2
13.0
9.3
6.3
4.3
0.6
0.6
1.7
1.6
www.angelbroking.com
Stock Watch
February 15, 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
97
-
3,422
1,036
1,252
65.5
66.2
(8.4)
(5.6)
3.6
4.2
(22.8)
(15.9)
11.5
9.6
Engineers India
Neutral
151
-
10,149
1,725
1,935
16.0
19.1
11.4
13.9
13.2
10.8
1.8
1.8
13.4
15.3
4.9
4.3
Financials
Axis Bank
Buy
487
580
116,477
46,932
53,575
3.5
3.4
32.4
44.6
15.1
10.9
1.9
1.7
13.6
16.5
-
-
Bank of Baroda
Neutral
169
-
38,917
19,980
23,178
1.8
1.8
11.5
17.3
14.7
9.8
1.7
1.4
8.3
10.1
-
-
Canara Bank
Neutral
303
-
16,474
15,225
16,836
1.8
1.8
14.5
28.0
20.9
10.8
1.4
1.2
5.8
8.5
-
-
Can Fin Homes
Accumulate
1,915
2,128
5,099
420
526
3.5
3.5
86.5
107.8
22.1
17.8
4.8
3.9
23.6
24.1
-
-
Cholamandalam Inv. &
Buy
1,010
1,230
15,775
2,012
2,317
6.3
6.3
42.7
53.6
23.6
18.8
3.7
3.2
16.9
18.3
-
-
Fin. Co.
Dewan Housing Finance Accumulate
304
350
9,525
2,225
2,688
2.9
2.9
29.7
34.6
10.2
8.8
1.7
1.4
16.1
16.8
-
-
Equitas Holdings
Buy
179
235
6,000
939
1,281
11.7
11.5
5.8
8.2
30.8
21.8
2.7
2.4
10.9
11.5
-
-
Federal Bank
Neutral
83
-
14,281
8,259
8,995
3.0
3.0
4.3
5.6
19.3
14.8
1.6
1.5
8.5
10.1
-
-
HDFC
Neutral
1,398
-
221,601
11,475
13,450
3.4
3.4
45.3
52.5
30.9
26.6
6.0
5.3
20.2
20.5
-
-
HDFC Bank
Neutral
1,311
-
334,596
46,097
55,433
4.5
4.5
58.4
68.0
22.4
19.3
3.9
3.3
18.8
18.6
-
-
ICICI Bank
Accumulate
285
315
165,833
42,800
44,686
3.1
3.3
18.0
21.9
15.8
13.0
2.1
2.0
11.1
12.3
-
-
Lakshmi Vilas Bank
Accumulate
149
174
2,860
3,339
3,799
2.7
2.8
11.0
14.0
13.6
10.7
1.4
1.3
11.2
12.7
-
-
LIC Housing Finance
Accumulate
545
630
27,524
3,712
4,293
2.6
2.5
39.0
46.0
14.0
11.9
2.6
2.2
19.9
20.1
-
-
Punjab Natl.Bank
Neutral
144
-
30,664
23,532
23,595
2.3
2.4
6.8
12.6
21.2
11.4
3.3
2.3
3.3
6.5
-
-
RBL Bank
Neutral
404
-
14,931
1,783
2,309
2.6
2.6
12.7
16.4
31.8
24.6
3.5
3.1
12.8
13.3
-
-
South Ind.Bank
Neutral
23
-
3,075
6,435
7,578
2.5
2.5
2.7
3.1
8.4
7.3
1.1
0.9
10.1
11.2
-
-
St Bk of India
Neutral
271
-
215,683
88,650
98,335
2.6
2.6
13.5
18.8
20.0
14.4
1.9
1.7
7.0
8.5
-
-
Union Bank
Neutral
145
-
9,982
13,450
14,925
2.3
2.3
25.5
34.5
5.7
4.2
0.8
0.7
7.5
10.2
-
-
Yes Bank
Neutral
1,457
-
61,619
8,978
11,281
3.3
3.4
74.0
90.0
19.7
16.2
3.7
3.2
17.0
17.2
-
-
FMCG
Asian Paints
Neutral
980
-
94,030
17,128
18,978
16.8
16.4
19.1
20.7
51.3
47.4
17.9
16.8
34.8
35.5
5.4
4.9
Britannia
Accumulate
3,220
3,626
38,643
9,594
11,011
14.6
14.9
80.3
94.0
40.1
34.3
16.5
12.7
41.2
-
4.0
3.4
Colgate
Accumulate
880
995
23,947
4,605
5,149
23.4
23.4
23.8
26.9
37.0
32.7
20.5
16.0
64.8
66.8
5.2
4.6
Dabur India
Accumulate
269
304
47,429
8,315
9,405
19.8
20.7
8.1
9.2
33.2
29.3
9.3
7.7
31.6
31.0
5.3
4.7
GlaxoSmith Con*
Neutral
5,085
-
21,385
4,350
4,823
21.2
21.4
179.2
196.5
28.4
25.9
7.5
6.4
27.1
26.8
4.3
3.8
Godrej Consumer
Neutral
1,601
-
54,528
10,235
11,428
18.4
18.6
41.1
44.2
39.0
36.2
8.6
7.3
24.9
24.8
5.3
4.6
HUL
Neutral
848
-
183,585
35,252
38,495
17.8
17.8
20.7
22.4
41.1
37.9
39.3
33.7
95.6
88.9
5.1
4.7
ITC
Neutral
271
-
328,246
40,059
44,439
38.3
39.2
9.0
10.1
30.2
26.7
8.4
7.4
27.8
27.5
7.7
6.9
www.angelbroking.com
Stock Watch
February 15, 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
Marico
Accumulate
266
300
34,350
6,430
7,349
18.8
19.5
6.4
7.7
41.6
34.6
12.6
10.6
33.2
32.5
5.2
4.5
Nestle*
Neutral
6,207
-
59,848
10,073
11,807
20.7
21.5
124.8
154.2
49.7
40.3
20.4
18.4
34.8
36.7
5.7
4.9
Tata Global
Neutral
141
-
8,912
8,675
9,088
9.8
9.8
7.4
8.2
19.1
17.2
2.2
2.1
7.9
8.1
1.0
0.9
Procter & Gamble
Accumulate
7,019
7,369
22,783
2,939
3,342
23.2
23.0
146.2
163.7
48.0
42.9
107.5
103.1
25.3
23.5
7.3
6.3
Hygiene
IT
HCL Tech^
Buy
830
1,000
117,172
49,242
57,168
20.5
20.5
55.7
64.1
14.9
13.0
3.0
2.3
20.3
17.9
2.2
1.8
Infosys
Buy
987
1,249
226,777
68,350
77,326
27.0
27.0
62.5
69.4
15.8
14.2
3.4
3.1
21.3
21.6
2.8
2.4
TCS
Accumulate
2,403
2,620
473,484
119,025
133,308
27.6
27.6
131.2
145.5
18.3
16.5
5.9
5.5
32.4
33.1
3.8
3.3
Tech Mahindra
Buy
504
600
49,060
29,673
32,937
15.5
17.0
32.8
39.9
15.4
12.6
3.0
2.6
19.6
20.7
1.4
1.2
Wipro
Buy
475
583
115,442
55,440
60,430
18.1
18.1
36.1
38.9
13.2
12.2
2.4
2.2
19.0
17.6
1.8
1.6
Media
D B Corp
Neutral
380
-
6,986
2,297
2,590
27.4
28.2
21.0
23.4
18.1
16.2
4.2
3.7
23.7
23.1
2.8
2.4
HT Media
Neutral
85
-
1,976
2,693
2,991
12.6
12.9
7.9
9.0
10.8
9.4
0.9
0.8
7.8
8.3
0.3
0.2
Jagran Prakashan
Buy
188
225
6,159
2,355
2,635
28.0
28.0
10.8
12.5
17.4
15.1
3.8
3.3
21.7
21.7
2.6
2.3
Sun TV Network
Neutral
733
-
28,894
2,850
3,265
70.1
71.0
26.2
30.4
28.0
24.1
7.2
6.3
24.3
25.6
9.5
8.1
Hindustan Media
Neutral
276
-
2,025
1,016
1,138
24.3
25.2
27.3
30.1
10.1
9.2
1.9
1.7
16.2
15.8
1.3
1.1
Ventures
TV Today Network
Buy
270
385
1,609
637
743
27.5
27.5
18.4
21.4
14.7
12.6
2.6
2.2
17.4
17.2
2.1
1.7
Metals & Mining
Coal India
Neutral
320
-
198,637
84,638
94,297
21.4
22.3
24.5
27.1
13.1
11.8
5.4
5.2
42.6
46.0
1.9
1.7
Hind. Zinc
Neutral
303
-
128,175
14,252
18,465
55.9
48.3
15.8
21.5
19.2
14.1
3.1
2.7
17.0
20.7
9.4
7.2
Hindalco
Neutral
187
-
38,699
107,899
112,095
7.4
8.2
9.2
13.0
20.4
14.4
1.0
0.9
4.8
6.6
0.9
0.8
JSW Steel
Neutral
182
-
43,933
53,201
58,779
16.1
16.2
130.6
153.7
1.4
1.2
0.2
0.2
14.0
14.4
1.6
1.4
NMDC
Neutral
139
-
43,946
6,643
7,284
44.4
47.7
7.1
7.7
19.6
18.0
1.7
1.7
8.8
9.2
4.7
4.2
SAIL
Neutral
61
-
25,111
47,528
53,738
(0.7)
2.1
(1.9)
2.6
23.4
0.7
0.6
(1.6)
3.9
1.4
1.3
Vedanta
Neutral
254
-
75,185
71,744
81,944
19.2
21.7
13.4
20.1
18.9
12.6
1.6
1.5
8.4
11.3
1.4
1.1
Tata Steel
Neutral
472
-
45,866
121,374
121,856
7.2
8.4
18.6
34.3
25.4
13.8
1.6
1.5
6.1
10.1
1.0
1.0
Oil & Gas
Cairn India
Neutral
278
-
52,055
9,127
10,632
4.3
20.6
8.8
11.7
31.5
23.7
1.0
1.0
3.3
4.2
7.2
6.0
GAIL
Neutral
496
-
62,885
56,220
65,198
9.3
10.1
27.1
33.3
18.3
14.9
1.7
1.6
9.3
10.7
1.3
1.1
ONGC
Neutral
196
-
250,954
137,222
152,563
15.0
21.8
19.5
24.1
10.0
8.1
0.9
0.8
8.5
10.1
2.1
1.9
Indian Oil Corp
Neutral
374
-
181,805
373,359
428,656
5.9
5.5
54.0
59.3
6.9
6.3
1.1
1.0
16.0
15.6
0.6
0.6
Reliance Industries
Neutral
1,048
-
340,010
301,963
358,039
12.1
12.6
87.7
101.7
12.0
10.3
1.2
1.1
10.7
11.3
1.6
1.3
Pharmaceuticals
Alembic Pharma
Neutral
558
-
10,523
3,483
4,083
20.2
21.4
24.3
30.4
23.0
18.4
5.2
4.2
25.5
25.3
2.9
2.4
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Stock Watch
February 15, 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
Pharmaceuticals
Alkem Laboratories Ltd
Accumulate
1,874
1,996
22,409
6,050
6,839
18.7
19.8
80.0
88.7
23.4
21.1
5.3
4.4
22.4
20.9
3.6
3.2
Aurobindo Pharma
Buy
659
877
38,589
15,720
18,078
23.7
23.7
41.4
47.3
15.9
13.9
4.1
3.2
29.6
26.1
2.7
2.3
Aventis*
Neutral
4,165
-
9,592
2,277
2,597
17.3
18.3
149.4
172.0
27.9
24.2
4.6
3.7
25.1
28.8
3.9
3.2
Cadila Healthcare
Accumulate
366
400
37,418
10,429
12,318
22.6
22.0
16.9
19.2
21.6
19.0
5.5
4.4
28.5
25.7
3.7
3.0
Cipla
Sell
577
465
46,395
15,378
18,089
15.7
16.8
19.3
24.5
29.9
23.5
3.5
3.1
12.3
13.9
3.2
2.7
Dr Reddy's
Neutral
2,944
-
48,768
16,043
18,119
20.8
22.4
112.4
142.9
26.2
20.6
3.5
3.1
14.1
15.9
3.0
2.7
Dishman Pharma
Neutral
216
-
3,480
1,718
1,890
22.7
22.8
9.5
11.3
22.7
19.1
2.2
2.0
10.1
10.9
2.6
2.2
GSK Pharma*
Neutral
2,683
-
22,727
3,000
3,312
15.4
20.6
46.5
60.8
57.7
44.1
13.9
13.8
26.3
30.6
7.4
6.7
Indoco Remedies
Reduce
266
240
2,447
1,112
1,289
16.2
18.2
11.6
16.0
22.9
16.6
3.7
3.1
17.0
20.1
2.4
2.0
Ipca labs
Buy
523
613
6,599
3,303
3,799
15.3
15.3
17.3
19.7
30.2
26.6
2.6
2.4
9.1
9.4
2.1
1.8
Lupin
Buy
1,435
1,809
64,793
15,912
18,644
26.4
26.7
58.1
69.3
24.7
20.7
4.8
3.9
21.4
20.9
4.2
3.4
Sun Pharma
Buy
650
847
155,985
31,129
35,258
32.0
32.9
30.2
35.3
21.5
18.4
3.5
2.9
20.0
20.1
4.6
3.9
Power
Tata Power
Neutral
84
-
22,585
36,916
39,557
17.4
27.1
5.1
6.3
16.4
13.3
1.4
1.3
9.0
10.3
1.6
1.5
NTPC
Neutral
171
-
140,833
86,605
95,545
17.5
20.8
11.8
13.4
14.5
12.8
1.5
1.4
10.5
11.1
3.0
3.0
Power Grid
Accumulate
201
223
104,946
25,315
29,193
88.2
88.7
14.2
17.2
14.2
11.7
2.2
1.9
15.2
16.1
8.8
7.9
Real Estate
Prestige Estate
Buy
171
210
6,409
4,707
5,105
25.2
26.0
10.3
13.0
16.6
13.2
1.3
1.2
10.3
10.2
2.6
2.3
MLIFE
Buy
350
522
1,436
1,152
1,300
22.7
24.6
29.9
35.8
11.7
9.8
0.9
0.8
7.6
8.6
2.0
1.6
Telecom
Bharti Airtel
Neutral
369
-
147,504
105,086
114,808
34.5
34.7
12.2
16.4
30.3
22.5
2.0
1.9
6.8
8.4
2.3
2.0
Idea Cellular
Neutral
110
-
39,561
40,133
43,731
37.2
37.1
6.4
6.5
17.2
16.9
1.4
1.3
8.2
7.6
2.0
1.7
zOthers
Abbott India
Neutral
4,450
-
9,456
3,153
3,583
14.1
14.4
152.2
182.7
29.2
24.4
143.6
122.6
25.6
26.1
2.7
2.3
Asian Granito
Buy
277
351
833
1,060
1,169
12.2
12.5
12.7
15.9
21.9
17.4
2.1
1.9
9.5
10.7
1.1
0.9
Bajaj Electricals
Accumulate
256
295
2,591
4,801
5,351
5.7
6.2
10.4
13.7
24.6
18.7
3.0
2.7
12.4
14.5
0.6
0.5
Banco Products (India)
Neutral
198
-
1,417
1,353
1,471
12.3
12.4
14.5
16.3
13.7
12.2
18.9
17.0
14.5
14.6
1.0
105.7
Coffee Day Enterprises
Neutral
234
-
4,827
2,964
3,260
20.5
21.2
4.7
8.0
-
29.3
2.7
2.5
5.5
8.5
2.1
1.8
Ltd
Competent Automobiles Neutral
180
-
111
1,137
1,256
3.1
2.7
28.0
23.6
6.4
7.6
34.6
31.3
14.3
11.5
0.1
0.1
Elecon Engineering
Neutral
55
-
615
1,482
1,660
13.7
14.5
3.9
5.8
14.1
9.5
3.3
3.0
7.8
10.9
0.7
0.7
Finolex Cables
Neutral
451
-
6,899
2,883
3,115
12.0
12.1
14.2
18.6
31.8
24.3
16.9
14.8
15.8
14.6
2.2
2.0
Garware Wall Ropes
Neutral
614
-
1,345
873
938
14.3
14.3
35.2
37.5
17.5
16.4
3.1
2.6
17.5
15.9
1.4
1.3
Goodyear India*
Neutral
717
-
1,654
1,598
1,704
10.4
10.2
49.4
52.6
14.5
13.6
67.0
58.8
18.2
17.0
0.7
101.4
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Stock Watch
February 15, 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
Hitachi
Neutral
1,370
-
3,726
2,081
2,433
8.8
8.9
33.4
39.9
41.0
34.4
33.1
27.6
22.1
21.4
1.8
1.5
HSIL
Neutral
288
-
2,085
2,384
2,515
15.8
16.3
15.3
19.4
18.9
14.9
18.7
16.1
7.8
9.3
1.1
1.0
Interglobe Aviation
Neutral
819
-
29,592
21,122
26,005
14.5
27.6
110.7
132.1
7.4
6.2
44.3
31.6
168.5
201.1
1.4
1.1
Jyothy Laboratories
Neutral
354
-
6,429
1,440
2,052
11.5
13.0
8.5
10.0
41.7
35.4
10.1
9.3
18.6
19.3
4.7
3.3
Kirloskar Engines India
Neutral
350
-
5,056
2,554
2,800
9.9
10.0
10.5
12.1
33.3
28.9
13.9
13.1
10.7
11.7
1.6
1.5
Ltd
Linc Pen & Plastics
Neutral
259
-
384
382
420
9.3
9.5
13.5
15.7
19.3
16.5
3.3
2.9
17.1
17.3
1.1
1.0
M M Forgings
Neutral
466
-
562
546
608
20.4
20.7
41.3
48.7
11.3
9.6
63.8
56.5
16.6
17.0
0.9
0.8
Manpasand Bever.
Neutral
687
-
3,931
836
1,087
19.6
19.4
16.9
23.8
40.7
28.9
4.9
4.3
12.0
14.8
4.4
3.3
Mirza International
Buy
92
107
1,102
1,024
1,148
18.0
18.0
6.9
8.0
13.3
11.4
2.2
1.9
16.6
16.3
1.3
1.1
MT Educare
Neutral
125
-
499
366
417
17.7
18.2
9.4
10.8
13.4
11.6
3.0
2.6
22.2
22.3
1.3
1.1
Narayana Hrudaya
Neutral
327
-
6,689
1,873
2,166
11.5
11.7
2.6
4.0
123.8
82.6
7.6
6.9
6.1
8.3
3.7
3.2
Navkar Corporation
Buy
167
265
2,384
369
561
42.9
42.3
7.2
11.5
23.2
14.5
1.7
1.5
7.4
10.5
7.7
5.1
Navneet Education
Neutral
145
-
3,377
1,062
1,147
24.0
24.0
6.1
6.6
23.7
21.8
4.9
4.3
20.6
19.8
3.3
3.1
Nilkamal
Neutral
1,690
-
2,522
1,995
2,165
10.7
10.4
69.8
80.6
24.2
21.0
96.6
83.9
16.6
16.5
1.3
1.1
Page Industries
Neutral
14,300
-
15,950
2,450
3,124
20.1
17.6
299.0
310.0
47.8
46.1
318.5
243.1
47.1
87.5
6.6
5.2
Parag Milk Foods
Neutral
265
-
2,230
1,919
2,231
9.3
9.6
9.5
12.9
28.1
20.5
4.4
3.6
15.5
17.5
1.3
1.1
Quick Heal
Neutral
252
-
1,767
408
495
27.3
27.0
7.7
8.8
32.6
28.7
3.0
3.0
9.3
10.6
3.6
3.0
Radico Khaitan
Buy
125
147
1,664
1,667
1,824
13.0
13.2
6.7
8.2
18.8
15.3
1.7
1.6
9.0
10.2
1.4
1.2
Relaxo Footwears
Neutral
436
-
5,239
2,085
2,469
9.2
8.2
7.6
8.0
57.7
54.9
22.4
19.1
17.9
18.8
2.6
2.2
S H Kelkar & Co.
Neutral
318
-
4,603
1,036
1,160
15.1
15.0
6.1
7.2
52.1
44.3
5.6
5.1
10.7
11.5
4.3
3.8
Siyaram Silk Mills
Neutral
1,700
-
1,594
1,652
1,857
11.6
11.7
92.4
110.1
18.4
15.4
2.7
2.4
14.7
15.2
1.1
1.0
Styrolution ABS India*
Neutral
608
-
1,069
1,440
1,537
9.2
9.0
40.6
42.6
15.0
14.3
38.2
34.8
12.3
11.6
0.7
0.6
Surya Roshni
Neutral
184
-
805
3,342
3,625
7.8
7.5
17.3
19.8
10.6
9.3
20.2
16.2
10.5
10.8
0.5
0.5
Team Lease Serv.
Neutral
865
-
1,479
3,229
4,001
1.5
1.8
22.8
32.8
38.0
26.3
4.1
3.5
10.7
13.4
0.4
0.3
The Byke Hospitality
Neutral
167
-
668
287
384
20.5
20.5
7.6
10.7
21.9
15.6
4.6
3.7
20.7
23.5
2.2
1.6
Transport Corporation of
Neutral
192
-
1,470
2,671
2,911
8.5
8.8
13.9
15.7
13.9
12.3
1.9
1.7
13.7
13.8
0.7
0.6
India
TVS Srichakra
Neutral
3,074
-
2,354
2,304
2,614
13.7
13.8
231.1
266.6
13.3
11.5
345.4
272.0
33.9
29.3
1.0
0.9
UFO Moviez
Neutral
416
-
1,148
619
685
33.2
33.4
30.0
34.9
13.9
11.9
1.9
1.7
13.8
13.9
1.6
1.2
Visaka Industries
Neutral
218
-
346
1,051
1,138
10.3
10.4
21.0
23.1
10.4
9.4
28.0
26.2
9.0
9.2
0.6
0.6
www.angelbroking.com
Stock Watch
February 15, 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
VRL Logistics
Neutral
302
-
2,760
1,902
2,119
16.7
16.6
14.6
16.8
20.8
18.0
4.6
4.0
21.9
22.2
1.6
1.4
Wonderla Holidays
Neutral
375
-
2,120
287
355
38.0
40.0
11.3
14.2
33.2
26.4
4.8
4.2
21.4
23.9
7.1
5.7
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on February 14, 2017
www.angelbroking.com
Market Outlook
February 15, 2017
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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