Market Outlook
November 02, 2016
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
Indian markets are likely to open negative tracking global cues and SGX Nifty.
BSE Sensex
(0.2)
(54)
27,877
Nifty
0.0
1
8,626
U.S. stocks fell Tuesday, with the S&P 500 dropping for a sixth consecutive session to
Mid Cap
(0.2)
(32)
13,441
end at a nearly four-month low as investors grappled with a tightening presidential
Small Cap
(0.2)
(26)
13,557
race, economic data, corporate earnings, and the Federal Reserve’s monetary policy
decision. The S&P 500 index fell 0.7%, to close at 2,112, while Dow Jones Industrial
Bankex
(0.5)
(119)
22,250
Average declined 0.6%, to finish at 18,037.
Global Indices
Chg (%)
(Pts)
(Close)
U.K. stocks dropped Tuesday, with investors starting off November trade by sifting
through more earnings releases and knocking down BP PLC and Standard
Dow Jones
(0.6)
(105)
18,037
Chartered PLC shares after their respective updates. The FTSE 100 finished a choppy
Nasdaq
(0.7)
(36)
5,154
session down 0.5% at 6,917 with no sectors finishing higher.
FTSE
(0.5)
(37)
6,917
Indian markets closed on a lower note on Tuesday amid volatile trading session
Nikkei
0.1
17
17,442
weighed down by defensive sectors like IT, FMCG and pharma. However, the
Hang Seng
0.9
213
23,147
downside was limited due to buying among metal shares and favourable core sector
Shanghai Com
0.7
22
3,122
growth in October. BSE Sensex declined by 53.6 points, to close at 27,877 and Nifty
closed up 0.55 point, at 8,626.
Advances / Declines
BSE
NSE
Advances
1,461
671
Result Review
Declines
1,480
973
Cipla is back to old strategy with a twist
Unchanged
92
69
Detailed analysis on Pg2
Investor’s Ready Reckoner
Volumes (` Cr)
Key Domestic & Global Indicators
BSE
3,318
Stock Watch: Latest investment recommendations on 150+ stocks
NSE
20,891
Refer Pg6 onwards
Net Inflows (` Cr)
Net
Mtd
Ytd
Top Picks
CMP
Target
Upside
Company
Sector
Rating
FII
(1,109)
(4,122)
45,882
(`)
(`)
(%)
MFs
560
8,106
22,052
Amara Raja Batteries Auto & Auto Ancill.
Buy
1,041
1,218
17.1
HCL Tech
IT
Buy
773
1,000
29.4
Bharat Electronics
Capital Goods
Accumulate
1,330
1,414
6.3
Top Gainers
Price (`)
Chg (%)
Equitas Holdings
Financials
Buy
179
235
31.4
Centurytex
1,024
8.5
Navkar Corporation Others
Buy
203
265
30.5
Vedl
220
8.5
More Top Picks on Pg4
Naukri
974
8.0
Key Upcoming Events
Hindzinc
273
8.0
Previous
Consensus
Date
Region
Event Description
Cairn
243
7.3
Reading
Expectations
Nov 02 US
FOMC rate decision
0.5
0.5
Nov 02 Germany
PMI Manufacturing
55.1
55.1
Top Losers
Price (`)
Chg (%)
Nov 02 Germany
Unemployment change (000’s)
1.0
(1.0)
Bharatfin
849
(4.1)
Nov 03 Germany
PMI Services
54.1
54.1
Iifl
316
(3.7)
Nov 03 US
Initial Jobless claims
258.0
256.0
6.(
Pel
1,750
(3.5)
More Events on Pg5
Deltacorp
178
(3.5)
Balramchin
113
(3.4)
As on October 28, 2016
www.angelbroking.com
Market Outlook
November 02, 2016
News analysis
Cipla is back to old strategy with a twist
As strategic focus has altered with appointment of new CEO, Cipla has exited
many countries and has brought down its presence abroad to 110 nations. The
company will exit six more countries in the near future and there could be more on
the cards. These moves are aimed to enable Cipla to keep the company on
profitable growth. In order to expand globally, the company carried several
acquisitions which saw its return on capital employed dropping to 14.5% in FY16,
from 24% in FY13. The expansionist strategy did not work hence under new CEO
a new consolidation strategy is in play now.
In the past four years, Cipla invested in building front-end in various global
markets, acquiring key assets such as Medpro in South Africa and building strong
leadership positions in various emerging markets. Cipla acquired Medpro in 2013
for `2,707cr and followed up with the `3,575cr acquisitions of the US generic
drug makers, InvaGen and Exelan. As part of the new strategy, Cipla intends to
have front-end presence in “key markets” including India, the US and South Africa.
In other markets, it intends to return to the old model of partnership.
In the US market, the company plans to launch 10-15 products and has a target
of filing 20-25 ANDAs in current fiscal. The execution of the InvaGen pipeline and
continued approvals in Cipla DTM (direct-to-market) is expected to ramp up the
US revenue to ~$500 million in next fiscal boosting profitability.
Cipla in June quarter generated ~18%of its revenues from North America whereas
most large Indian pharma companies derive ~50-60% of their revenues from
North America. The renewed focus of Cipla in US markets has come quite late
compared to its peers.
www.angelbroking.com
Market Outlook
November 02, 2016
Quarterly Bloomberg Brokers Consensus Estimate
Ambuja Cement Ltd - Nov 3, 2016
Particulars ( ` cr)
3QCY16E
3QCY15
y-o-y (%)
2QCY16
q-o-q (%)
Net sales
2,624
2,095
25.3
2,541
3.3
EBITDA
501
310
61.7
601
(16.6)
EBITDA margin (%)
19.1
14.8
23.6
Net profit
333
154
116.6
400
(16.7)
Union Bank Of India Ltd - Nov 4, 2016
Particulars ( ` cr)
2QFY17E
2QFY16
y-o-y (%)
1QFY17
q-o-q (%)
Net profit
203
658
(69.2)
166
22.1
Titan Ltd - Nov 4, 2016
Particulars ( ` cr)
2QFY17E
2QFY16
y-o-y (%)
1QFY17
q-o-q (%)
Net sales
3,058
2,655
15.2
2,783
9.9
EBITDA
275
203
35.5
292
(5.9)
EBITDA margin (%)
9.0
7.6
10.5
Net profit
180
145
23.8
127
42.1
United Breweries Ltd - Nov 4, 2016
Particulars ( ` cr)
2QFY17E
2QFY16
y-o-y (%)
1QFY17
q-o-q (%)
Net sales
1,640
1,016
61.3
1,486
10.4
EBITDA
296
150
97.1
290
2.1
EBITDA margin (%)
18.0
14.8
19.5
Net profit
142
48
194.2
147
(3.6)
Punjab National Bank Ltd - Nov 5, 2016
Particulars ( ` cr)
2QFY17E
2QFY16
y-o-y (%)
1QFY17
q-o-q (%)
Net profit
125
621
(80.0)
306
(59.4)
Economic and Political News
RBI sets up second Banking Ombudsman office in New Delhi
Government plans second phase of telecom sector reforms
Cabinet may hike Rabi pulses minimum support price by up to `600/quintal
Corporate News
Tata Motors posts strongest car sales in four years at 28%
Maruti Suzuki sales decline marginally in October
Hindustan Media Ventures Q2 profit rises 20.9% to `54.7cr
Dabur to acquire personal care firm in South Africa
Airtel signs `420cr deal with Nokia on VoLTE calling tech
www.angelbroking.com
Market Outlook
November 02, 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
17,773
1,041
1,218
17.1
products leading to market share gains in both the
automotive OEM and replacement segments.
Healthy pace of branch expansion, backed by distribution
Axis Bank
1,13,478
475
630
32.5
network, will be the driving force for the bank’s retail business
and overall earnings.
Uptick in defense capex by government when coupled with
Bharat Electronics
31,925
1,330
1,414
6.3
BELs strong market positioning, indicate that good times are
ahead for BEL.
The stock is trading at attractive valuations and is factoring all
HCL Tech
1,09,023
773
1,000
29.4
the bad news.
Back on the growth trend, expect a long term growth of 14%
Infosys
2,27,133
989
1,249
26.3
to be a US$20bn in FY2020.
Source: Company, Angel Research
Mid Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
We expect the company would report strong profitability
Asian Granito
820
273
351
28.7
owing to better product mix, higher B2C sales and
amalgamation synergy.
Among the top 4 players in the consumer durables segment.
Bajaj Electricals
2,632
261
306
17.5
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
5,381
564
634
12.3
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
10,300
329
350
6.4
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
6,000
179
235
31.4
adequate CAR. ROE & ROA likely to remain decent as risk of
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
6,363
195
225
15.6
radio business (Radio City) would also boost the company's
revenue growth.
Speedier execution and speedier sales, strong revenue visibilty
Mahindra Lifespace
1,764
430
522
21.4
in short-to-long run, attractive valuations
We expect the company to report strong growth on back of
healthy growth in domestic branded sales (owing to
Mirza International
1,122
93
113
21.1
aggressive ad spend and addition in the number of EBOs &
multi-brand outlets [MBOs]) and healthy export revenues.
Massive capacity expansion along with rail advantage at ICD
Navkar Corporation
2,895
203
265
30.5
as well CFS augurs well for the company.
Strong brands and distribution network would boost growth
Siyaram Silk Mills
1,531
1,633
1,714
5.0
going ahead. Stock currently trades at an inexpensive
valuation.
Market leadership in Hindi news genre and no. 2 viewership
ranking in English news genre, exit from the radio business,
TV Today Network
2,032
341
363
6.5
and anticipated growth in ad spends by corporates to benefit
the stock.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
November 02, 2016
Key Upcoming Events
Global economic events release calendar
Date
Time
Country
Event Description
Unit
Period
Bloomberg Data
Last Reported Estimated
Nov 2, 2016
2:25PM
Germany
Unemployment change (000's)
Thousands
Oct
1.00
(0.50)
2:25PM
Germany
PMI Manufacturing
Value
Oct F
55.10
55.10
11:30PM
US
FOMC rate decision
%
Nov 2
0.50
0.50
Nov 3, 2016
2:25PM
Germany
PMI Services
Value
Oct F
54.10
54.10
6:00PM
US
Initial Jobless claims
Thousands
Oct 29
258.00
256.00
Nov 4, 2016
5:30PM
UK
BOE Announces rates
% Ratio
Nov 3
0.25
0.25
6:00PM
US
Change in Nonfarm payrolls
Thousands
Oct
156.00
175.00
6:00PM
US
Unnemployment rate
%
Oct
5.00
4.90
Nov 8, 2016
China
Exports YoY%
% Change
Oct
(10.00)
(6.00)
3:00PM
UK
Industrial Production (YoY)
% Change
Sep
0.70
--
Nov 9, 2016
7:00AM
China
Consumer Price Index (YoY)
% Change
Oct
1.90
2.10
Nov 10, 2016
India
Imports YoY%
% Change
Oct
(2.50)
--
India
Exports YoY%
% Change
Oct
4.60
--
Nov 11, 2016 5:30PM
India
Industrial Production YoY
% Change
Sep
(0.70)
--
Nov 14, 2016 7:30AM
China
Industrial Production (YoY)
% Change
Oct
6.10
6.20
3:30PM
Euro Zone
Euro-Zone GDP s.a. (QoQ)
% Change
3Q P
0.30
--
Nov 15, 2016 12:00PM
India
Monthly Wholesale Prices YoY%
% Change
Oct
3.57
--
3:00PM
UK
CPI (YoY)
% Change
Oct
1.00
--
12:30PM
Germany
GDP nsa (YoY)
% Change
3Q P
3.10
--
Nov 16, 2016 3:00PM
UK
Jobless claims change
% Change
Oct
0.70
--
7:45PM
US
Industrial Production
%
Oct
0.06
0.10
US
Producer Price Index (mom)
% Change
Oct
0.80
--
Nov 17, 2016 7:00PM
US
Housing Starts
Thousands
Oct
1,047.00
1,120.00
7:00PM
US
Building permits
Thousands
Oct
1,225.00
1,190.00
7:00PM
US
Consumer price index (mom)
% Change
Oct
0.30
0.40
8:30PM
Euro Zone
Euro-Zone Consumer Confidence
Value
Nov A
(8.00)
--
Source: Bloomberg, Angel Research
Market Outlook
November 02, 2016
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
9.0
12.0
8.3
9.9
7.8
7.9
10.0
8.0
7.5
7.5
7.6
7.2
7.1
8.0
6.6
6.7
7.0
6.4
6.0
5.8
6.0
4.0
1.9
2.0
1.3
2.0
0.3
5.0
-
4.0
(2.0)
(0.7)
(0.9)
(1.3)
(1.6)
(4.0)
(2.5)
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
(%)
55.0
7.0
6.1
54.0
5.6
5.7
5.8
5.8
6.0
5.4
5.5
5.0
5.3
5.1
53.0
4.8
5.0
4.3
52.0
4.0
51.0
50.0
3.0
49.0
2.0
48.0
1.0
47.0
46.0
-
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
10.0
7.00
5.0
6.50
0.0
6.00
(5.0)
5.50
(10.0)
5.00
(15.0)
4.50
(20.0)
4.00
(25.0)
(30.0)
3.50
(35.0)
3.00
Source: Bloomberg, Angel Research
Source: RBI, Angel Research
www.angelbroking.com
www.angelbroking.com
Market Outlook
November 02, 2016
Global watch
Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries
(%)
8.0
6.7
6.0
5.3
0.6
5.2
4.0
3.5
4.0
3.1
2.3
1.5
2.0
1.1
0.8
-
(2.0)
(0.6)
(4.0)
(3.8)
(6.0)
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
www.angelbroking.com
Market Outlook
November 02, 2016
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
63,326
9.4
13.3
37.5
Russia
Micex
1,997
0.9
3.9
16.6
India
Nifty
8,626
(1.4)
0.1
4.0
China
Shanghai Composite
3,122
2.9
3.5
(7.3)
South Africa
Top 40
44,444
(2.4)
(3.9)
(8.2)
Mexico
Mexbol
47,303
0.7
2.6
5.9
Indonesia
LQ45
926
0.4
(0.1)
17.2
Malaysia
KLCI
1,671
0.1
0.7
(2.3)
Thailand
SET 50
943
(0.8)
(1.4)
2.9
USA
Dow Jones
18,037
(0.0)
(1.4)
1.8
UK
FTSE
6,917
0.3
4.1
7.9
Japan
Nikkei
17,442
4.5
5.9
(5.4)
Germany
DAX
10,526
2.7
5.4
(1.4)
France
CAC
4,470
1.6
4.6
(8.0)
Source: Bloomberg, Angel Research
www.angelbroking.com
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Agri / Agri Chemical
Rallis
Neutral
221
-
4,295
1,937
2,164
13.3
14.3
9.0
11.0
24.5
20.1
4.3
3.7
18.4
19.8
2.3
2.0
United Phosphorus
Neutral
706
-
35,776
15,176
17,604
18.5
18.5
37.4
44.6
18.9
15.8
3.7
3.1
21.4
21.2
2.5
2.1
Auto & Auto Ancillary
Ashok Leyland
Buy
90
111
25,641
22,407
26,022
10.6
10.6
5.2
6.4
17.3
14.0
3.9
3.3
23.6
24.7
1.2
1.0
Bajaj Auto
Neutral
2,825
-
81,738
25,093
27,891
19.5
19.2
143.9
162.5
19.6
17.4
5.5
4.7
30.3
29.4
3.0
2.6
Bharat Forge
Neutral
866
-
20,148
7,726
8,713
20.5
21.2
35.3
42.7
24.5
20.3
4.5
4.1
18.9
20.1
2.7
2.3
Eicher Motors
Neutral
25,321
-
68,775
16,583
20,447
17.5
18.0
598.0
745.2
42.3
34.0
14.5
11.0
41.2
38.3
4.0
3.2
Gabriel India
Neutral
124
-
1,782
1,544
1,715
9.0
9.3
5.4
6.3
23.0
19.7
4.3
3.8
18.9
19.5
1.1
1.0
Hero Motocorp
Accumulate
3,371
3,541
67,311
30,958
34,139
15.7
15.7
193.6
208.3
17.4
16.2
6.8
5.6
34.2
30.5
2.0
1.8
Jamna Auto Industries Neutral
234
-
1,867
1,486
1,620
9.8
9.9
15.0
17.2
15.6
13.6
3.4
2.9
21.8
21.3
1.3
1.2
L G Balakrishnan & Bros Neutral
677
-
1,063
1,302
1,432
11.6
11.9
43.7
53.0
15.5
12.8
2.2
2.0
13.8
14.2
0.9
0.8
Mahindra and Mahindra Neutral
1,323
-
82,139
46,534
53,077
11.6
11.7
67.3
78.1
19.7
16.9
3.2
2.8
15.4
15.8
1.7
1.5
Maruti
Neutral
5,879
-
177,578
69,186
82,217
14.7
14.4
198.5
241.4
29.6
24.4
5.8
4.7
20.2
20.0
2.3
1.8
Minda Industries
Neutral
385
-
3,058
2,728
3,042
9.0
9.1
68.2
86.2
5.7
4.5
1.3
1.0
23.8
24.3
1.2
1.0
Motherson Sumi
Neutral
328
-
46,080
45,896
53,687
7.8
8.3
13.0
16.1
25.2
20.4
8.1
6.5
34.7
35.4
1.1
0.9
Rane Brake Lining
Neutral
1,134
-
897
511
562
11.3
11.5
28.1
30.9
40.4
36.7
6.2
5.6
15.3
15.0
1.9
1.7
Setco Automotive
Neutral
44
-
588
741
837
13.0
13.0
15.2
17.0
2.9
2.6
0.5
0.4
15.8
16.3
1.2
1.1
Tata Motors
Neutral
531
-
153,296
300,209
338,549
8.9
8.4
42.7
54.3
12.5
9.8
2.0
1.7
15.6
17.2
0.6
0.5
TVS Motor
Neutral
404
-
19,191
13,390
15,948
6.9
7.1
12.8
16.5
31.7
24.4
7.9
6.2
26.3
27.2
1.5
1.2
Amara Raja Batteries
Buy
1,041
1,218
17,773
5,429
6,471
17.5
17.6
35.3
43.5
29.5
23.9
6.8
5.5
25.3
24.8
3.1
2.5
Exide Industries
Neutral
203
-
17,247
7,439
8,307
15.0
15.0
8.1
9.3
25.1
21.8
3.5
3.1
14.3
16.7
1.9
1.7
Apollo Tyres
Accumulate
206
235
10,478
12,877
14,504
14.3
13.9
21.4
23.0
9.6
9.0
1.5
1.3
16.4
15.2
1.0
0.9
Ceat
Buy
1,247
1,450
5,046
7,524
8,624
13.0
12.7
131.1
144.3
9.5
8.6
1.8
1.5
19.8
18.6
0.8
0.7
JK Tyres
Neutral
148
-
3,350
7,455
8,056
15.0
15.0
21.8
24.5
6.8
6.0
1.4
1.2
22.8
21.3
0.6
0.5
Swaraj Engines
Neutral
1,350
-
1,677
660
810
15.2
16.4
54.5
72.8
24.8
18.5
7.7
7.0
31.5
39.2
2.4
1.9
Subros
Neutral
170
-
1,022
1,488
1,681
11.7
11.9
6.4
7.2
26.6
23.8
2.8
2.6
10.8
11.4
0.9
0.8
Indag Rubber
Neutral
190
-
499
286
326
19.8
16.8
11.7
13.3
16.3
14.3
2.7
2.6
17.8
17.1
1.4
1.2
Capital Goods
ACE
Neutral
56
-
556
709
814
4.1
4.6
1.4
2.1
40.1
26.8
1.7
1.6
4.4
6.0
0.9
0.8
BEML
Neutral
926
-
3,858
3,451
4,055
6.3
9.2
31.4
57.9
29.5
16.0
1.8
1.6
6.3
10.9
1.2
1.0
Bharat Electronics
Accumulate
1,330
1,414
31,925
8,137
9,169
16.8
17.2
58.7
62.5
22.7
21.3
3.5
3.1
44.6
46.3
2.9
2.6
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Capital Goods
Voltas
Accumulate
385
407
12,742
6,511
7,514
7.9
8.7
12.9
16.3
29.9
23.6
5.4
4.7
16.7
18.5
1.7
1.5
BGR Energy
Neutral
123
-
889
16,567
33,848
6.0
5.6
7.8
5.9
15.8
20.9
0.9
0.9
4.7
4.2
0.2
0.1
BHEL
Neutral
142
-
34,646
28,797
34,742
-
2.8
2.3
6.9
61.5
20.5
1.1
1.0
1.3
4.8
0.9
0.6
Blue Star
Accumulate
564
634
5,381
4,283
5,077
5.9
7.3
14.9
22.1
37.9
25.5
7.4
6.2
20.4
26.4
1.3
1.1
Crompton Greaves
Neutral
77
-
4,851
5,777
6,120
5.9
7.0
3.3
4.5
23.5
17.2
1.0
1.0
4.4
5.9
0.8
0.7
Greaves Cotton
Neutral
140
-
3,427
1,755
1,881
16.8
16.9
7.8
8.5
18.0
16.5
3.6
3.3
20.6
20.9
1.6
1.5
Inox Wind
Neutral
219
-
4,852
5,605
6,267
15.7
16.4
24.8
30.0
8.8
7.3
2.5
1.8
25.9
24.4
0.9
0.8
KEC International
Neutral
126
-
3,234
9,294
10,186
7.9
8.1
9.9
11.9
12.7
10.6
1.9
1.6
15.6
16.3
0.6
0.5
Thermax
Neutral
851
-
10,138
5,421
5,940
7.3
7.3
25.7
30.2
33.1
28.2
4.0
3.7
12.2
13.1
1.8
1.6
VATech Wabag
Buy
501
681
2,731
3,136
3,845
8.9
9.1
26.0
35.9
19.3
14.0
2.4
2.1
13.4
15.9
0.8
0.6
Cement
ACC
Neutral
1,507
-
28,295
11,225
13,172
13.2
16.9
44.5
75.5
33.9
20.0
3.2
3.0
11.2
14.2
2.5
2.2
Ambuja Cements
Neutral
244
-
48,529
9,350
10,979
18.2
22.5
5.8
9.5
42.1
25.7
3.5
3.2
10.2
12.5
5.2
4.4
India Cements
Neutral
161
-
4,933
4,364
4,997
18.5
19.2
7.9
11.3
20.3
14.2
1.5
1.4
8.0
8.5
1.9
1.7
JK Cement
Neutral
929
-
6,497
4,398
5,173
15.5
17.5
31.2
55.5
29.8
16.7
3.6
3.1
12.0
15.5
2.0
1.7
J K Lakshmi Cement
Accumulate
496
565
5,837
2,913
3,412
14.5
19.5
7.5
22.5
66.1
22.1
4.1
3.4
12.5
18.0
2.6
2.2
Orient Cement
Buy
174
215
3,558
2,114
2,558
18.5
20.5
8.1
11.3
21.4
15.4
3.2
2.7
9.0
14.0
2.3
1.8
UltraTech Cement
Neutral
3,975
-
109,097
25,768
30,385
21.0
23.5
111.0
160.0
35.8
24.9
4.6
4.0
13.5
15.8
4.3
3.6
Construction
ITNL
Neutral
110
-
3,604
8,946
10,017
31.0
31.6
8.1
9.1
13.5
12.0
0.5
0.5
4.2
5.0
3.7
3.5
KNR Constructions
Accumulate
734
802
2,064
1,385
1,673
14.7
14.0
41.2
48.5
17.8
15.1
3.3
2.9
14.9
15.2
1.6
1.3
Larsen & Toubro
Buy
1,465
1,700
136,502
67,665
77,249
10.7
11.5
57.3
71.2
25.6
20.6
2.3
2.2
12.6
14.3
2.2
1.9
Gujarat Pipavav Port
Neutral
169
-
8,163
705
788
52.2
51.7
5.0
5.6
33.8
30.2
3.3
3.0
11.2
11.2
11.2
9.6
Nagarjuna Const.
Neutral
94
-
5,206
8,842
9,775
9.1
8.8
5.3
6.4
17.7
14.6
1.4
1.3
8.2
9.1
0.7
0.7
PNC Infratech
Buy
123
143
3,143
2,350
2,904
13.1
13.2
9.0
8.8
13.6
13.9
0.5
0.4
15.9
13.9
1.5
1.2
Simplex Infra
Neutral
325
-
1,607
6,829
7,954
10.5
10.5
31.4
37.4
10.4
8.7
1.1
1.0
9.9
13.4
0.7
0.6
Power Mech Projects
Neutral
500
-
736
1,801
2,219
12.7
14.6
72.1
113.9
6.9
4.4
1.3
1.1
16.8
11.9
0.4
0.3
Sadbhav Engineering
Accumulate
277
298
4,750
3,598
4,140
10.3
10.6
9.0
11.9
30.8
23.3
3.2
2.8
9.9
11.9
1.6
1.4
NBCC
Neutral
241
-
14,442
7,428
9,549
7.9
8.6
8.2
11.0
29.4
21.9
1.5
1.2
28.2
28.7
1.7
1.2
MEP Infra
Neutral
43
-
696
1,877
1,943
30.6
29.8
3.0
4.2
14.3
10.2
6.9
4.7
0.6
0.6
1.8
1.6
SIPL
Neutral
104
-
3,646
1,036
1,252
65.5
66.2
(8.4)
(5.6)
3.9
4.4
(22.8)
(15.9)
11.7
9.8
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Construction
Engineers India
Neutral
272
-
9,153
1,725
1,935
16.0
19.1
11.4
13.9
23.8
19.5
3.3
3.2
13.4
15.3
4.2
3.8
Financials
Axis Bank
Buy
475
630
113,478
46,932
53,575
3.5
3.4
32.4
44.6
14.7
10.7
1.9
1.6
13.6
16.5
-
-
Bank of Baroda
Neutral
155
-
35,703
19,980
23,178
1.8
1.8
11.5
17.3
13.5
9.0
1.5
1.3
8.3
10.1
-
-
Canara Bank
Neutral
312
-
16,920
15,225
16,836
1.8
1.8
14.5
28.0
21.5
11.1
1.5
1.2
5.8
8.5
-
-
Dewan Housing Finance Accumulate
329
350
10,300
2,225
2,688
2.9
2.9
29.7
34.6
11.1
9.5
1.8
1.5
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
82
-
14,055
9,353
10,623
2.9
2.9
4.4
5.8
18.6
14.1
1.8
1.6
9.5
11.0
-
-
HDFC
Neutral
1,417
-
223,967
11,475
13,450
3.4
3.4
45.3
52.5
31.3
27.0
6.0
5.3
20.2
20.5
-
-
HDFC Bank
Accumulate
1,260
1,350
318,949
46,097
55,433
4.5
4.5
58.4
68.0
21.6
18.5
3.8
3.2
18.8
18.6
-
-
ICICI Bank
Neutral
275
-
160,230
39,029
45,903
3.3
3.3
16.7
16.3
16.5
16.9
2.0
1.9
10.1
12.4
-
-
LIC Housing Finance
Accumulate
589
630
29,727
3,712
4,293
2.6
2.5
39.0
46.0
15.1
12.8
2.8
2.4
19.9
20.1
-
-
Punjab Natl.Bank
Neutral
144
-
30,536
23,532
23,595
2.3
2.4
6.8
12.6
21.1
11.4
3.3
2.3
3.3
6.5
-
-
RBL Bank
Neutral
396
-
14,637
1,783
2,309
2.6
2.6
12.7
16.4
31.2
24.1
3.4
3.0
12.8
13.3
-
-
South Ind.Bank
Neutral
24
-
3,200
6,435
7,578
2.5
2.5
2.7
3.1
8.8
7.7
1.1
1.0
10.1
11.2
-
-
St Bk of India
Neutral
258
-
200,590
88,650
98,335
2.6
2.6
13.5
18.8
19.1
13.7
1.8
1.6
7.0
8.5
-
-
Union Bank
Neutral
144
-
9,920
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
1,250
-
52,606
8,978
11,281
3.3
3.4
74.0
90.0
16.9
13.9
3.2
2.7
17.0
17.2
-
-
FMCG
Asian Paints
Neutral
1,076
-
103,191
17,128
18,978
16.8
16.4
19.1
20.7
56.3
52.0
19.6
18.5
34.8
35.5
5.9
5.4
Britannia
Accumulate
3,326
3,626
39,909
9,795
11,040
14.6
14.9
80.3
94.0
41.4
35.4
17.0
13.2
41.2
-
3.9
3.4
Colgate
Neutral
972
-
26,447
4,605
5,149
23.4
23.4
23.8
26.9
40.9
36.2
22.6
17.7
64.8
66.8
5.7
5.0
Dabur India
Neutral
290
-
51,024
8,315
9,405
19.8
20.7
8.1
9.2
35.8
31.5
10.0
8.3
31.6
31.0
5.8
5.1
GlaxoSmith Con*
Neutral
6,080
-
25,569
4,350
4,823
21.2
21.4
179.2
196.5
33.9
31.0
9.0
7.6
27.1
26.8
5.3
4.7
Godrej Consumer
Neutral
1,573
-
53,576
10,235
11,428
18.4
18.6
41.1
44.2
38.3
35.6
8.5
7.2
24.9
24.8
5.3
4.7
HUL
Neutral
835
-
180,769
35,252
38,495
17.6
17.4
20.4
21.9
40.9
38.1
33.6
29.5
82.2
77.3
4.9
4.5
ITC
Buy
240
283
289,518
40,059
44,439
39.0
39.2
9.1
10.1
26.4
23.8
7.2
6.3
27.2
26.5
6.7
6.0
Marico
Accumulate
276
300
35,602
6,430
7,349
18.8
19.5
6.4
7.7
43.1
35.8
13.0
11.0
33.2
32.5
5.4
4.6
Nestle*
Neutral
6,786
-
65,429
10,073
11,807
20.7
21.5
124.8
154.2
54.4
44.0
22.3
20.1
34.8
36.7
6.3
5.4
Tata Global
Neutral
139
-
8,747
8,675
9,088
9.8
9.8
7.4
8.2
18.7
16.9
2.1
2.0
7.9
8.1
0.9
0.9
Procter & Gamble
Neutral
7,050
-
22,885
2,939
3,342
23.2
23.0
146.2
163.7
48.2
43.1
108.0
103.5
25.3
23.5
7.3
6.4
Hygiene
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
IT
HCL Tech^
Buy
773
1,000
109,023
49,242
57,168
20.5
20.5
55.7
64.1
13.9
12.1
2.8
2.2
20.3
17.9
2.1
1.7
Infosys
Buy
989
1,249
227,133
68,350
77,326
27.0
27.0
62.5
69.4
15.8
14.3
3.4
3.1
21.3
21.6
2.8
2.4
TCS
Accumulate
2,348
2,620
462,597
119,025
133,308
27.6
27.6
131.2
145.5
17.9
16.1
5.8
5.3
32.4
33.1
3.7
3.2
Tech Mahindra
Buy
434
700
42,084
30,347
33,685
17.0
17.0
37.5
41.3
11.6
10.5
2.5
2.2
21.8
20.7
1.1
0.9
Wipro
Buy
461
590
112,032
55,440
60,430
18.1
18.1
35.9
39.9
12.8
11.6
2.3
2.1
19.0
19.3
1.7
1.6
Media
D B Corp
Neutral
385
-
7,076
2,297
2,590
27.4
28.2
21.0
23.4
18.3
16.5
4.3
3.7
23.7
23.1
2.9
2.5
HT Media
Neutral
93
-
2,156
2,693
2,991
12.6
12.9
7.9
9.0
11.7
10.3
1.0
0.9
7.8
8.3
0.4
0.3
Jagran Prakashan
Buy
195
225
6,363
2,355
2,635
28.0
28.0
10.8
12.5
18.0
15.6
3.9
3.4
21.7
21.7
2.7
2.4
Sun TV Network
Neutral
543
-
21,401
2,850
3,265
70.1
71.0
26.2
30.4
20.7
17.9
5.3
4.7
24.3
25.6
7.1
6.1
Hindustan Media
Neutral
302
-
2,216
1,016
1,138
24.3
25.2
27.3
30.1
11.1
10.0
2.1
1.9
16.2
15.8
1.5
1.3
Ventures
TV Today Network
Accumulate
341
363
2,032
637
743
27.5
27.5
18.4
21.4
18.5
15.9
3.2
2.7
17.4
17.2
2.8
2.3
Metals & Mining
Coal India
Neutral
330
-
208,345
84,638
94,297
21.4
22.3
24.5
27.1
13.5
12.2
5.6
5.3
42.6
46.0
2.0
1.8
Hind. Zinc
Neutral
273
-
115,224
14,252
18,465
55.9
48.3
15.8
21.5
17.3
12.7
2.8
2.5
17.0
20.7
8.1
6.2
Hindalco
Neutral
157
-
32,327
107,899
112,095
7.4
8.2
9.2
13.0
17.0
12.0
0.8
0.8
4.8
6.6
0.8
0.8
JSW Steel
Neutral
1,660
-
40,114
53,201
58,779
16.1
16.2
130.6
153.7
12.7
10.8
1.7
1.5
14.0
14.4
1.5
1.3
NMDC
Neutral
138
-
54,792
6,643
7,284
44.4
47.7
7.1
7.7
19.5
18.0
1.7
1.6
8.8
9.2
6.0
5.4
SAIL
Neutral
52
-
21,559
47,528
53,738
(0.7)
2.1
(1.9)
2.6
20.1
0.6
0.5
(1.6)
3.9
1.3
1.2
Vedanta
Neutral
220
-
65,164
71,744
81,944
19.2
21.7
13.4
20.1
16.4
10.9
1.4
1.3
8.4
11.3
1.3
1.0
Tata Steel
Neutral
418
-
40,568
121,374
121,856
7.2
8.4
18.6
34.3
22.5
12.2
1.4
1.3
6.1
10.1
1.0
1.0
Oil & Gas
Cairn India
Neutral
243
-
45,522
9,127
10,632
4.3
20.6
8.8
11.7
27.6
20.8
0.9
0.9
3.3
4.2
6.5
5.4
GAIL
Neutral
432
-
54,849
56,220
65,198
9.3
10.1
27.1
33.3
16.0
13.0
1.5
1.4
9.3
10.7
1.2
1.0
ONGC
Neutral
289
-
247,425
137,222
152,563
15.0
21.8
19.5
24.1
14.8
12.0
1.3
1.2
8.5
10.1
2.1
1.9
Indian Oil Corp
Neutral
325
-
157,890
373,359
428,656
5.9
5.5
54.0
59.3
6.0
5.5
0.9
0.8
16.0
15.6
0.6
0.5
Reliance Industries
Neutral
1,048
-
339,906
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
673
-
12,691
3,483
4,083
20.2
21.4
24.3
30.4
27.7
22.1
6.3
5.0
25.5
25.3
3.6
3.0
Aurobindo Pharma
Accumulate
809
877
47,334
15,720
18,078
23.7
23.7
41.4
47.3
19.5
17.1
5.1
4.0
29.6
26.1
3.2
2.8
Sanofi India*
Neutral
4,313
-
9,934
2,357
2,692
17.3
17.3
153.5
169.2
28.1
25.5
4.8
3.9
25.8
28.4
3.9
3.2
Cadila Healthcare
Neutral
424
-
43,381
11,126
13,148
22.0
22.0
17.1
20.0
24.8
21.2
6.4
5.1
28.8
26.6
3.9
3.2
Cipla
Neutral
571
-
45,888
15,378
18,089
17.4
18.4
21.6
27.2
26.4
21.0
3.4
3.0
13.7
15.2
3.2
2.7
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
Pharmaceuticals
Dr Reddy's
Neutral
3,326
-
55,104
16,043
18,119
23.1
24.7
126.0
157.8
26.4
21.1
3.9
3.4
15.7
17.1
3.4
3.0
Dishman Pharma
Neutral
252
-
4,073
1,718
1,890
22.7
22.8
9.5
11.3
26.6
22.3
2.6
2.3
10.1
10.9
2.8
2.5
GSK Pharma*
Neutral
2,860
-
24,224
3,528
3,811
16.6
18.8
51.8
59.4
55.2
48.2
14.8
14.7
26.3
30.6
6.6
6.2
Indoco Remedies
Neutral
284
-
2,620
1,112
1,289
18.2
18.2
13.2
15.6
21.5
18.2
3.8
3.3
19.2
19.2
2.5
2.1
Ipca labs
Neutral
613
-
7,736
3,303
3,799
15.3
15.3
17.3
19.7
35.4
31.1
3.1
2.8
9.1
9.4
2.5
2.1
Lupin
Buy
1,513
1,809
68,212
15,912
18,644
26.4
26.7
58.1
69.3
26.0
21.8
5.1
4.2
21.4
20.9
4.4
3.6
Sun Pharma
Buy
734
944
176,615
31,129
35,258
30.0
30.9
28.0
32.8
26.2
22.4
4.0
3.3
18.7
18.9
5.3
4.4
Power
Tata Power
Neutral
78
-
21,137
36,916
39,557
17.4
27.1
5.1
6.3
15.3
12.4
1.4
1.2
9.0
10.3
1.6
1.4
NTPC
Neutral
155
-
127,763
86,605
95,545
17.5
20.8
11.8
13.4
13.1
11.6
1.3
1.2
10.5
11.1
2.8
2.8
Power Grid
Neutral
177
-
92,573
25,763
29,762
74.3
73.1
14.8
17.3
12.0
10.2
1.9
1.6
16.9
17.5
7.9
7.5
Real Estate
MLIFE
Buy
430
522
1,764
1,152
1,300
22.7
24.6
29.9
35.8
14.4
12.0
1.1
1.0
7.6
8.6
2.2
1.9
Telecom
Bharti Airtel
Neutral
317
-
126,598
105,086
114,808
34.5
34.7
12.2
16.4
26.0
19.3
1.8
1.6
6.8
8.4
2.1
1.8
Idea Cellular
Neutral
77
-
27,582
40,133
43,731
37.2
37.1
6.4
6.5
12.0
11.8
1.0
0.9
8.2
7.6
1.7
1.4
zOthers
Abbott India
Neutral
4,919
-
10,452
3,153
3,583
14.1
14.4
152.2
182.7
32.3
26.9
158.7
135.5
25.6
26.1
3.0
2.6
Bajaj Electricals
Buy
261
306
2,632
5,099
5,805
5.6
5.9
11.4
14.6
22.9
17.9
3.1
2.7
13.4
15.1
0.5
0.5
Finolex Cables
Neutral
444
-
6,797
2,883
3,115
12.0
12.1
14.2
18.6
31.3
23.9
16.7
14.6
15.8
14.6
2.1
1.9
Goodyear India*
Neutral
812
-
1,874
1,598
1,704
10.4
10.2
49.4
52.6
16.4
15.4
75.9
66.6
18.2
17.0
0.9
121.2
Hitachi
Neutral
1,482
-
4,030
2,081
2,433
8.8
8.9
33.4
39.9
44.4
37.2
35.8
29.8
22.1
21.4
1.9
1.6
Jyothy Laboratories
Neutral
358
-
6,504
1,440
2,052
11.5
13.0
8.5
10.0
42.1
35.8
10.2
9.5
18.6
19.3
4.8
3.3
Page Industries
Neutral
16,363
-
18,251
2,450
3,124
20.1
17.6
299.0
310.0
54.7
52.8
364.4
278.2
47.1
87.5
7.5
5.9
Relaxo Footwears
Neutral
433
-
5,197
2,085
2,469
9.2
8.2
7.6
8.0
57.3
54.5
22.2
19.0
17.9
18.8
2.6
2.2
Siyaram Silk Mills
Accumulate
1,633
1,714
1,531
1,799
2,040
11.6
11.7
104.9
122.4
15.6
13.3
2.6
2.2
16.4
16.4
1.0
0.9
Styrolution ABS India*
Neutral
648
-
1,140
1,440
1,537
9.2
9.0
40.6
42.6
16.0
15.2
40.8
37.1
12.3
11.6
0.8
0.7
TVS Srichakra
Neutral
3,876
-
2,968
2,304
2,614
13.7
13.8
231.1
266.6
16.8
14.5
435.5
342.9
33.9
29.3
1.3
1.1
HSIL
Neutral
350
-
2,529
2,384
2,515
15.8
16.3
15.3
19.4
22.9
18.0
22.7
19.6
7.8
9.3
1.2
1.1
Kirloskar Engines India
Neutral
349
-
5,047
2,554
2,800
9.9
10.0
10.5
12.1
33.2
28.8
13.9
13.1
10.7
11.7
1.6
1.4
Ltd
M M Forgings
Neutral
461
-
556
546
608
20.4
20.7
41.3
48.7
11.2
9.5
63.2
55.9
16.6
17.0
0.9
0.8
Banco Products (India)
Neutral
222
-
1,589
1,353
1,471
12.3
12.4
14.5
16.3
15.3
13.6
21.2
19.1
14.5
14.6
1.1
119.8
Competent Automobiles Neutral
207
-
127
1,137
1,256
3.1
2.7
28.0
23.6
7.4
8.8
39.8
35.9
14.3
11.5
0.1
0.1
www.angelbroking.com
Stock Watch
November 02, 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 )
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
FY17E
FY18E
zOthers
Nilkamal
Neutral
1,748
-
2,609
1,995
2,165
10.7
10.4
69.8
80.6
25.1
21.7
99.9
86.8
16.6
16.5
1.3
1.2
Visaka Industries
Neutral
227
-
360
1,051
1,138
10.3
10.4
21.0
23.1
10.8
9.8
29.1
27.2
9.0
9.2
0.6
0.6
Transport Corporation of
Neutral
183
-
1,404
2,671
2,911
8.5
8.8
13.9
15.7
13.2
11.7
1.8
1.6
13.7
13.8
0.6
0.6
India
Elecon Engineering
Neutral
67
-
728
1,482
1,660
13.7
14.5
3.9
5.8
17.1
11.5
4.0
3.7
7.8
10.9
0.8
0.7
Surya Roshni
Neutral
239
-
1,048
3,342
3,625
7.8
7.5
17.3
19.8
13.9
12.1
26.3
21.1
10.5
10.8
0.6
0.5
MT Educare
Neutral
136
-
542
366
417
17.7
18.2
9.4
10.8
14.5
12.6
3.2
2.8
22.2
22.3
1.4
1.2
Radico Khaitan
Neutral
146
-
1,940
1,659
1,802
13.0
13.2
6.3
7.4
23.0
19.8
2.0
1.8
8.6
9.3
1.6
1.5
Garware Wall Ropes
Neutral
560
-
1,225
873
938
12.9
13.1
30.9
34.9
18.1
16.0
2.9
2.5
15.7
15.2
1.3
1.2
Wonderla Holidays
Neutral
391
-
2,210
287
355
38.0
40.0
11.3
14.2
34.6
27.6
5.0
4.3
21.4
23.9
7.4
6.0
Linc Pen & Plastics
Neutral
260
-
385
382
420
9.3
9.5
13.5
15.7
19.3
16.6
3.3
2.9
17.1
17.3
1.1
1.0
The Byke Hospitality
Neutral
192
-
771
287
384
20.5
20.5
7.6
10.7
25.3
18.0
5.3
4.3
20.7
23.5
2.7
2.0
Interglobe Aviation
Neutral
940
-
33,881
21,122
26,005
14.5
27.6
110.7
132.1
8.5
7.1
50.8
36.3
168.5
201.1
1.6
1.2
Coffee Day Enterprises
Neutral
224
-
4,620
2,964
3,260
20.5
21.2
4.7
8.0
-
28.0
2.6
2.4
5.5
8.5
2.0
1.7
Ltd
Navneet Education
Neutral
111
-
2,644
1,062
1,147
24.0
24.0
6.1
6.6
18.2
16.8
3.7
3.3
20.6
19.8
2.6
2.4
Navkar Corporation
Buy
203
265
2,895
408
612
42.9
42.3
6.8
11.5
30.0
17.7
2.1
1.9
6.9
10.5
8.0
5.3
UFO Moviez
Neutral
493
-
1,360
619
685
33.2
33.4
30.0
34.9
16.4
14.1
2.3
2.0
13.8
13.9
1.9
1.5
VRL Logistics
Neutral
287
-
2,620
1,902
2,119
16.7
16.6
14.6
16.8
19.7
17.1
4.3
3.8
21.9
22.2
1.5
1.3
Team Lease Serv.
Neutral
1,025
-
1,752
3,229
4,001
1.5
1.8
22.8
32.8
45.0
31.2
4.8
4.2
10.7
13.4
0.4
0.3
S H Kelkar & Co.
Neutral
321
-
4,646
1,036
1,160
15.1
15.0
6.1
7.2
52.6
44.8
5.6
5.2
10.7
11.5
4.4
3.8
Quick Heal
Neutral
256
-
1,790
408
495
27.3
27.0
7.7
8.8
33.0
29.1
3.1
3.1
9.3
10.6
3.5
2.9
Narayana Hrudaya
Neutral
345
-
7,049
1,873
2,166
11.5
11.7
2.6
4.0
130.4
87.0
8.0
7.2
6.1
8.3
3.9
3.3
Manpasand Bever.
Neutral
717
-
4,099
836
1,087
19.6
19.4
16.9
23.8
42.4
30.1
5.1
4.5
12.0
14.8
4.6
3.5
Parag Milk Foods
Neutral
317
-
2,669
1,919
2,231
9.3
9.6
9.5
12.9
33.6
24.5
5.2
4.3
15.5
17.5
1.5
1.3
Mirza International
Buy
93
113
1,122
1,024
1,148
18.0
18.0
6.9
8.0
13.5
11.7
2.3
1.9
16.6
16.2
1.3
1.1
Asian Granito
Buy
273
351
820
1,118
1,220
11.8
12.0
13.0
16.0
21.0
17.1
2.0
1.8
9.7
10.7
1.0
0.9
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on November 01, 2016
www.angelbroking.com
Market Outlook
November 02, 2016
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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