Market Outlook
May 26, 2016
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Close)
BSE Sensex
2.3
576
25,881
Indian Markets are expected to open in the green tracking global cues and the SGX
Nifty
2.4
186
7,935
Nifty.
Mid Cap
1.0
107
11,080
U.S markets witnessed another day of impressive gains led by news of the Greek
Small Cap
0.9
102
10,954
bailout and an increase in crude prices. Crude prices increased 2% after an EIA
report showed crude stockpiles fell by 4.2 million barrels last week.
Bankex
3.2
593
19,297
European markets rallied after Eurozone finance ministers cleared the way for fresh
loans for Greece. Better than expected German consumer and business confidence
Global Indices
Chg (%)
(Pts)
(Close)
numbers also boosted sentiment.
Dow Jones
0.8
145
17,852
Indian markets rallied sharply led by improvement in monsoon forecasts, positive
Nasdaq
0.7
34
4,895
global cues due to easing worries relating to the US rate hike, Brexit and Greek
FTSE
0.7
44
6,263
debt, triggering heavy short covering ahead of the derivative expiry.
Nikkei
1.6
259
16,757
News Analysis
Hang Seng
2.7
538
20,368
Result Review - Glaxo
Shanghai Com
(0.2)
-7
2,815
Detailed analysis on Pg2
Advances / Declines
BSE
NSE
Investor’s Ready Reckoner
Advances
1,568
1,073
Key Domestic & Global Indicators
Declines
989
471
Stock Watch: Latest investment recommendations on 150+ stocks
Unchanged
176
79
Refer Pg6 onwards
Top Picks
Volumes (` Cr)
CMP
Target
Upside
Company
Sector
Rating
BSE
2,323
(`)
(`)
(%)
Amara Raja
Auto/Auto Ancillary
Buy
851
1,076
26.5
NSE
16,674
HCL Tech
IT
Buy
749
1,000
33.5
LIC Housing
Financials
Buy
444
592
33.2
Net Inflows (` Cr)
Net
Mtd
Ytd
Bharat Electronics
Capital Goods
Buy
1,109
1,414
27.5
FII
(801)
282
12,072
Navkar Corporation Others
Buy
185
265
43.2
MFs
15
3,773
6,369
More Top Picks on Pg4
Key Upcoming Events
Top Gainers
Price (`)
Chg (%)
Previous
Consensus
Date
Region
Event Description
Techm
529
10.3
Reading
Expectations
Canbk
193
6.6
May 26 UK
GDP (YoY)
2.1
2.1
May 26 US
Initial Jobless claims
278
275
Piind
634
6.3
May 30 US
GDP QoQ (Annualised)
0.5
0.9
Hindcopper
45
6.2
May 31 UK
PMI Manufacturing
49.2
--
Indiacem
89
5.6
More Events on Pg5
Top Losers
Price (`)
Chg (%)
Feldvr
17
(9.0)
Gsfc
73
(7.9)
Cipla
470
(5.0)
Amarajabat
851
(4.9)
Jubilant
340
(4.4)
As on May 25, 2016
www.angelbroking.com
Market Outlook
May 26, 2016
Result Review
Glaxo (CMP: `3,425 / TP: / Upside: )
For 4QFY2016, Glaxo posted sales of `686cr, a yoy growth of 11.8%. On
operating front, the gross margins came in at 55.0% V/s 57.1% during the last
corresponding period, while EBDITA came in at 17.8% V/s 19.4% during the last
corresponding period. The reported net profit thus came in at `106cr V/s `103cr
during the last corresponding period, a yoy growth of 2.9%. The Adj. net profit
thus came in at `95cr V/s `107cr during the last corresponding period. We remain
neutral 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)
FY2016E
2,870
20.0
504
59.5
28.5
57.6
17.0
47.5
9.5
FY2017E
3,158
22.1
579
68.3
34.3
50.1
17.4
39.4
8.7
Economic and Political News
Government approves Capital Goods Policy, aims 21-mn new jobs
Cabinet clears India, Japan pact on thermal power
India's wheat imports hit 500,000 tonnes as drought cuts supplies
Corporate News
Adani Group among three players in race for AP port project
Tata Motors committee approves to raise `300cr via NCDs
Bosch to invest `770cr on plants and R&D tech centre
Glenmark to ramp up respiratory business with new inhaler
Cox & Kings promoters infuse `168cr in company
www.angelbroking.com
Market Outlook
May 26, 2016
Quarterly Bloomberg Brokers Consensus Estimate
United Spirits Ltd. - May 26, 2016
Particulars (` cr)
4QFY16E
4QFY15
y-o-y (%)
3QFY16
q-o-q (%)
Net sales
2,372
2,020
17.4
2638
(10.1)
EBITDA
256
25
920.3
223
14.8
EBITDA margin (%)
10.8
1.2
8.5
Net profit
87
(1,799)
0.0
41
112.2
Tata Chemicals Ltd. Consol - May 26, 2016
Particulars (` cr)
4QFY16E
4QFY15
y-o-y (%)
3QFY16
q-o-q (%)
Net sales
3,905
3,658
6.8
4,597
(15.0)
EBITDA
464
411
12.8
490
(5.4)
EBITDA margin (%)
11.9
11.2
10.7
Net profit
153
(74)
0.0
130
17.6
Union Bank of India Ltd. - May 26, 2016
Particulars (` cr)
4QFY16E
4QFY15
y-o-y (%)
3QFY16
q-o-q (%)
Net profit
187
444
(57.8)
96
94.8
Oil and Natural Gas Corp. Ltd. - May 26, 2016
Particulars (` cr)
4QFY16E
4QFY15
y-o-y (%)
3QFY16
q-o-q (%)
Net sales
15,878
21,303
(25.5)
18,397
(13.7)
EBITDA
6,489
7,619
(14.8)
4,049
60.3
EBITDA margin (%)
40.9
35.8
22
Net profit
2,482
3,935
(36.9)
1,286
93
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Market Outlook
May 26, 2016
Top Picks HHHHH
Large Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
To outpace battery industry growth due to better technological
Amara Raja Batteries
14,534
851
1,076
26.5
products leading to market share gains in both the automotive
OEM and replacement segments.
Uptick in defense capex by government when coupled with
Bharat Electronics
26,620
1,109
1,414
27.5
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
1,05,651
749
1,000
33.5
the bad news.
Strong visibility for a robust 20% earnings trajectory, coupled
HDFC Bank
2,96,578
1,173
1,262
7.6
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%
Infosys
2,77,666
1,209
1,374
13.7
to be a US$20bn in FY2020.
LICHF continues to grow its retail loan book at a healthy pace
with improvement in asset quality. We expect the company to
LIC Housing Finance
22,412
444
592
33.2
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
11,389
949
1,098
15.7
State Governments and opportunity from Smart City, positions
NBCC to report strong growth, going forward.
Source: Company, Angel Research
Mid Cap
Market Cap
CMP
Target
Upside
Company
Rationale
(` Cr)
(`)
(`)
(%)
Favorable outlook for the AC industry to augur well for
Cooling products business which is out pacing the market
Blue Star
3,864
430
481
12.0
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
5,515
189
270
42.9
segment, the company has increased its presence in tier-II &
III cities where the growth opportunity is immense.
Commencement of new projects, downtrend in the interest
IL&FS Transport
2,278
69
93
34.3
rate cycle, to lead to stock re-rating
Economic recovery to have favourable impact on advertising
& circulation revenue growth. Further, the acquisition of a
Jagran Prakashan
5,654
173
205
18.5
radio business (Radio City) would also boost the company's
revenue growth.
Speedier execution and speedier sales, strong revenue visibilty
Mahindra Lifespace
1,817
443
554
25.1
in short-to-long run, attractive valuations
Massive capacity expansion along with rail advantage at ICD
Navkar Corporation
2,638
185
265
43.2
as well CFS augurs well for the company
Earnings boost on back of stable material prices and
Radico Khaitan
1,126
85
125
47.7
favourable pricing environment. Valuation discount to peers
provides additional comfort
Strong brands and distribution network would boost growth
Siyaram Silk Mills
966
1,030
1,354
31.4
going ahead. Stock currently trades at an inexpensive
valuation.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
May 26, 2016
Key Upcoming Events
Result Calendar
Date
Company
May 26, 2016
Tata Chemicals, Subros, India Cements, Mphasis, HT Media, ONGC, BPCL, Finolex Cables, Banco,
Power Grid Corpn, UFO Moviez
May 27, 2016
BHEL, Crompton Greaves, St Bk of India, Canara Bank, Rural Elec.Corp., Central Bank, PVR, Sarda
Energy, IOC, HPCL, Cravatex, Surya Roshni, Orchid Chemicals, Indoco Remedies, Reliance Power,
GIPCL, S H Kelkar & Co.
May 28, 2016
Coal India, Hindalco, Divi's Lab., NHPC, Reliance Infra.
May 30, 2016
Tata Motors, M&M, Blue Star, SAIL, Bajaj Electrical, Hitachi, Tide Water Oil India, Sun Pharma,
Aurobindo Pharma, NTPC, Unitech, Transport Corporation of India
Source: Bloomberg, Angel Research
Global economic events release calendar
Bloomberg Data
Date
Time
Country Event Description
Unit
Period
Last Reported Estimated
May 26, 2016
6:00 PM
US
Initial Jobless claims
ThousandsMay 21
278.00
275.00
2:00 PM
UK
GDP (YoY)
% Change 1Q P
2.10
2.10
May 27, 2016
2:30 PM Euro Zone Euro-Zone Consumer Confidence
Value May F
-7.00
May 30, 2016
6:00 PM
US
GDP Qoq (Annualised)
% Change 1Q S
0.50
0.90
May 31, 2016
1:25 PM Germany Unemployment change (000's)
Thousands May
-16.00
2:00 PM
UK
PMI Manufacturing
Value May
49.20
Jun 01, 2016
7:30 PM
US
Consumer ConfidenceS.A./ 1985=100 May
94.20
96.20
1:25 PM Germany
PMI Manufacturing
Value May F
52.40
6:30 AM
China
PMI Manufacturing
Value May
50.10
50.00
Jun 02, 2016
5:15 PM Euro Zone
ECB announces interest rates
% Jun 2
0.00
Jun 03, 2016
1:25 PM Germany
PMI Services
Value May F
55.20
6:00 PM
US
Change in Nonfarm payrolls
Thousands May
160.00
168.00
6:00 PM
US
Unnemployment rate
% May
5.00
4.90
Jun 07, 2016
2:30 PM Euro Zone
Euro-Zone GDP s.a. (QoQ)
% Change 1Q F
0.50
11:00 AM India
RBI Reverse Repo rate
%
Jun 7
6.00
Source: Bloomberg, Angel Research
www.angelbroking.com
www.angelbroking.com
Market Outlook
May 26, 2016
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
9.0
8.3
12.0
9.9
7.8
7.7
8.0
7.5
7.6
10.0
7.3
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
2.5
6.0
2.0
2.0
0.1
5.0
4.5
-
4.0
(2.0)
(0.9)
(1.5)
(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
Mfg. PMI
Services PMI
(%)
56.0
5.6
5.7
6.0
5.4
5.4
5.4
5.3
5.0
5.0
54.0
4.8
5.0
4.4
52.0
3.7
3.7
4.0
50.0
3.0
48.0
2.0
1.0
46.0
-
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
May 26, 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
1.9
2.0
1.3
1.3
0.6
-
-
(2.0)
(1.2)
(4.0)
(6.0)
(5.9)
(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
www.angelbroking.com
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Market Outlook
May 26, 2016
Exhibit 4: Relative performance of indices across globe
Returns (%)
Country
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
49,483
(4.6)
16.4
(10.8)
Russia
Micex
1,899
(3.1)
5.1
14.7
India
Nifty
7,935
1.0
11.6
(5.8)
China
Shanghai Composite
2,815
(4.5)
(3.9)
(36.3)
South Africa
Top 40
47,727
1.9
7.3
(0.2)
Mexico
Mexbol
45,711
0.3
5.0
2.3
Indonesia
LQ45
819
(3.7)
(0.1)
(10.1)
Malaysia
KLCI
1,631
(5.1)
(2.0)
(9.9)
Thailand
SET 50
892
(1.4)
10.9
(10.2)
USA
Dow Jones
17,852
(0.7)
8.3
(1.5)
UK
FTSE
6,263
(0.8)
3.7
(10.3)
Japan
Nikkei
16,757
(0.7)
3.5
(15.1)
Germany
DAX
10,205
(1.6)
6.6
(10.6)
France
CAC
4,482
(1.4)
5.7
(11.0)
Source: Bloomberg, Angel Research
www.angelbroking.com
www.angelbroking.com
Stock Watch
May 26, 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
209
-
4,058
1,612
1,911
13.3
13.3
7.4
9.5
28.2
22.0
4.5
4.0
16.7
18.4
2.6
2.2
United Phosphorus
Buy
588
684
25,215
13,083
15,176
18.5
18.5
31.5
37.4
18.7
15.7
3.7
3.1
21.4
21.4
2.1
1.8
Auto & Auto Ancillary
Ashok Leyland
Accumulate
97
111
27,676
17,995
21,544
11.4
11.6
3.4
4.7
28.6
20.7
5.0
4.6
17.7
22.2
1.5
1.2
Bajaj Auto
Neutral
2,479
-
71,730
22,709
25,860
20.9
20.1
129.0
143.6
19.2
17.3
5.9
5.1
30.7
29.4
2.7
2.3
Bharat Forge
Buy
742
875
17,277
7,351
8,318
19.9
19.7
31.2
36.5
23.8
20.3
4.3
3.6
19.3
19.2
2.5
2.2
Eicher Motors
Accumulate
18,531
20,044
50,331
15,556
16,747
15.5
17.3
464.8
597.5
39.9
31.0
14.6
10.7
36.2
34.3
3.2
2.9
Gabriel India
Buy
87
101
1,255
1,415
1,544
8.7
9.0
4.6
5.4
19.0
16.2
3.4
3.1
18.1
18.9
0.9
0.8
Hero Motocorp
Neutral
2,929
-
58,493
28,244
30,532
15.5
15.9
156.7
168.5
18.7
17.4
7.5
6.3
39.9
36.4
1.9
1.7
Jamna Auto Industries Accumulate
147
160
1,177
1,281
1,473
11.2
11.5
7.6
9.2
19.4
16.0
4.9
4.0
25.4
25.2
1.0
0.8
L G Balakrishnan & Bros Neutral
470
-
737
1,254
1,394
11.6
11.8
35.9
41.7
13.1
11.3
1.8
1.6
13.5
13.8
0.7
0.6
Mahindra and Mahindra Neutral
1,312
-
81,497
38,416
42,904
13.7
13.9
54.8
63.4
23.9
20.7
3.7
3.3
15.4
15.8
1.8
1.5
Maruti
Neutral
4,054
-
122,451
57,865
68,104
16.4
16.7
176.3
225.5
23.0
18.0
4.5
3.8
19.4
21.2
1.9
1.6
Minda Industries
Neutral
1,175
-
1,864
2,523
2,890
8.7
9.0
55.0
65.4
21.4
18.0
4.1
3.4
19.3
18.7
0.8
0.7
Motherson Sumi
Buy
266
313
35,152
39,343
45,100
8.8
9.1
10.1
12.5
26.3
21.3
8.3
6.5
35.3
34.4
1.0
0.8
Rane Brake Lining
Buy
391
465
310
454
511
11.5
12.0
25.2
31.0
15.5
12.6
2.3
2.1
14.9
16.6
0.8
0.7
Setco Automotive
Neutral
32
-
428
594
741
12.7
13.7
1.7
3.2
18.9
10.0
2.0
1.7
10.4
16.9
1.2
1.0
Tata Motors
Neutral
397
-
114,622
259,686
273,957
13.0
13.4
25.9
29.5
15.3
13.5
2.0
1.8
8.0
9.0
0.6
0.6
TVS Motor
Accumulate
296
330
14,065
11,263
13,122
6.9
8.5
9.2
15.0
32.2
19.7
7.4
5.8
22.7
29.6
1.2
1.0
Amara Raja Batteries
Buy
851
1,076
14,534
4,892
5,871
17.4
17.6
28.8
37.1
29.5
22.9
6.9
5.5
23.4
24.1
2.9
2.4
Exide Industries
Neutral
157
-
13,311
6,950
7,784
14.4
14.8
6.6
7.3
23.7
21.5
3.0
2.7
12.6
12.8
1.6
1.5
Apollo Tyres
Buy
152
183
7,722
12,056
12,714
17.2
16.4
23.0
20.3
6.6
7.5
1.2
1.0
17.7
13.6
0.7
0.7
Ceat
Buy
903
1,119
3,654
6,041
6,597
14.1
13.7
99.5
111.9
9.1
8.1
1.8
1.5
19.6
18.5
0.8
0.6
JK Tyres
Neutral
82
-
1,849
7,446
7,669
15.2
14.0
19.6
18.4
4.2
4.4
1.1
0.9
25.2
19.5
0.6
0.6
Swaraj Engines
Neutral
1,100
-
1,366
552
630
14.2
14.7
44.6
54.1
24.7
20.3
5.7
5.2
23.2
25.6
2.3
2.0
Subros
Neutral
98
-
589
1,293
1,527
11.8
11.9
4.2
6.7
23.4
14.7
1.8
1.6
7.7
11.5
0.8
0.6
Indag Rubber
Neutral
187
-
491
283
329
17.0
17.2
13.0
15.4
14.4
12.1
3.2
2.6
21.8
21.6
1.5
1.2
Capital Goods
ACE
Neutral
40
-
395
660
839
4.7
8.2
1.0
3.9
40.0
10.2
1.3
1.1
3.2
11.3
0.7
0.6
BEML
Buy
818
1,157
3,407
3,277
4,006
6.0
8.9
36.2
64.3
22.6
12.7
1.6
1.4
5.7
11.7
1.1
0.9
Bharat Electronics
Buy
1,109
1,414
26,620
7,737
8,634
16.8
17.2
54.0
61.5
20.5
18.0
2.9
2.6
39.3
45.6
2.6
2.2
www.angelbroking.com
Stock Watch
May 26, 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
337
407
11,162
5,363
5,963
8.0
9.1
11.0
13.8
30.7
24.5
4.7
4.1
16.2
17.9
2.0
1.8
BGR Energy
Neutral
109
-
788
3,615
3,181
9.5
9.4
16.7
12.4
6.5
8.8
0.6
0.6
10.0
7.0
0.6
0.8
BHEL
Neutral
123
-
30,020
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
Accumulate
430
481
3,864
3,548
3,977
6.3
6.9
13.7
17.2
31.4
25.0
7.9
5.1
26.1
25.4
1.2
1.0
Crompton Greaves
Neutral
61
-
3,807
13,484
14,687
4.9
6.2
4.5
7.1
13.5
8.6
1.0
0.9
7.2
10.8
0.4
0.4
Greaves Cotton
Neutral
135
-
3,297
1,655
1,755
16.6
16.8
7.4
7.8
18.2
17.3
3.7
3.5
21.1
20.6
1.9
1.8
Inox Wind
Buy
228
286
5,056
4,406
5,605
15.5
15.7
20.4
24.8
11.2
9.2
2.6
1.9
27.9
25.9
1.4
1.0
KEC International
Neutral
128
-
3,298
8,791
9,716
6.1
6.8
5.4
8.2
23.8
15.7
2.4
2.2
10.0
14.0
0.6
0.6
Thermax
Neutral
715
-
8,517
6,413
7,525
7.4
8.5
30.5
39.3
23.4
18.2
3.6
3.1
15.0
17.0
1.3
1.1
VATech Wabag
Neutral
560
-
3,052
2,722
3,336
7.9
8.1
19.5
24.6
28.7
22.8
3.0
2.7
11.1
12.4
1.2
1.0
Cement
ACC
Neutral
1,475
-
27,699
13,151
14,757
16.4
18.3
63.9
83.4
23.1
17.7
3.0
2.7
13.3
16.1
1.9
1.7
Ambuja Cements
Neutral
223
-
34,530
11,564
12,556
19.4
20.7
8.9
10.1
25.0
22.0
3.1
3.0
12.8
13.8
2.6
2.4
HeidelbergCement
Neutral
98
-
2,212
1,772
1,926
13.3
15.4
1.0
3.0
97.6
32.5
2.5
2.3
2.6
7.9
1.8
1.6
India Cements
Neutral
89
-
2,732
4,216
4,840
18.0
19.5
4.0
9.9
22.2
9.0
0.9
0.8
4.0
9.5
1.0
0.8
JK Cement
Neutral
597
-
4,173
3,661
4,742
10.1
15.8
7.5
28.5
79.6
20.9
2.4
2.1
7.5
22.9
1.6
1.2
J K Lakshmi Cement
Neutral
345
-
4,059
2,947
3,616
16.7
19.9
11.5
27.2
30.0
12.7
2.9
2.5
9.8
20.8
1.8
1.4
Mangalam Cements
Neutral
246
-
657
1,053
1,347
10.5
13.3
8.4
26.0
29.3
9.5
1.2
1.1
4.3
12.5
1.0
0.7
Orient Cement
Neutral
151
-
3,090
1,854
2,524
21.2
22.2
7.7
11.1
19.6
13.6
2.8
2.4
13.3
15.7
2.4
1.7
Ramco Cements
Neutral
496
-
11,815
4,036
4,545
20.8
21.3
15.1
18.8
32.9
26.4
4.0
3.6
12.9
14.3
3.4
3.0
Shree Cement^
Neutral
13,167
-
45,871
7,150
8,742
26.7
28.6
228.0
345.5
57.7
38.1
8.5
7.1
15.7
20.3
6.2
5.0
UltraTech Cement
Neutral
3,206
-
87,973
24,669
29,265
18.2
20.6
82.0
120.0
39.1
26.7
4.2
3.7
11.3
14.7
3.6
3.1
Construction
ITNL
Buy
69
93
2,278
7,360
8,825
34.0
35.9
7.0
9.0
9.9
7.7
0.3
0.3
3.2
3.7
3.7
3.6
KNR Constructions
Buy
515
603
1,448
937
1,470
14.3
14.0
44.2
38.6
11.7
13.3
2.3
2.0
15.4
15.4
1.6
1.1
Larsen & Toubro
Neutral
1,291
-
120,328
58,870
65,708
8.3
10.3
42.0
53.0
30.8
24.4
2.1
1.9
8.8
11.2
2.3
2.0
Gujarat Pipavav Port
Neutral
160
-
7,723
629
684
51.0
52.2
6.4
5.9
25.0
27.1
3.3
3.0
15.9
12.7
11.9
10.8
MBL Infrastructures
Buy
128
285
531
2,313
2,797
12.2
14.6
19.0
20.0
6.8
6.4
0.7
0.7
11.3
10.6
0.9
0.8
Nagarjuna Const.
Neutral
71
-
3,958
7,892
8,842
8.8
9.1
3.0
5.3
23.7
13.4
1.2
1.1
5.0
8.5
0.7
0.6
PNC Infratech
Neutral
570
-
2,924
1,873
2,288
13.2
13.5
24.0
32.0
23.7
17.8
2.3
2.1
12.1
12.3
1.7
1.4
Simplex Infra
Neutral
263
-
1,303
5,955
6,829
10.3
10.5
16.0
31.0
16.5
8.5
0.9
0.8
5.3
9.9
0.7
0.6
www.angelbroking.com
Stock Watch
May 26, 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
588
-
865
1,539
1,801
12.8
12.7
59.0
72.1
10.0
8.2
1.5
1.3
18.6
16.8
0.6
0.5
Sadbhav Engineering
Accumulate
274
298
4,702
3,186
3,598
10.2
10.3
8.0
9.0
34.3
30.5
3.2
2.8
9.4
9.9
1.8
1.6
NBCC
Buy
949
1,098
11,389
5,816
7,382
6.9
7.7
29.6
39.8
32.1
23.9
5.8
4.5
24.1
26.7
1.7
1.3
MEP Infra
Neutral
41
-
667
1,956
1,876
28.1
30.5
1.3
3.0
31.5
13.7
6.6
4.5
21.2
32.8
1.8
1.7
SIPL
Neutral
97
-
3,424
675
1,042
62.4
64.7
-
-
3.6
4.2
-
-
16.7
11.3
Engineers India
Neutral
179
-
6,014
1,667
1,725
13.5
16.0
9.7
11.4
18.4
15.7
2.2
2.1
11.7
13.4
2.4
2.4
Financials
Allahabad Bank
Neutral
51
-
3,106
8,569
9,392
2.8
2.9
16.3
27.5
3.1
1.8
0.3
0.2
7.6
11.9
-
-
Axis Bank
Neutral
502
-
119,797
26,204
29,738
3.6
3.5
34.5
35.4
14.6
14.2
2.3
2.0
16.8
14.9
-
-
Bank of Baroda
Neutral
133
-
30,714
18,802
21,088
2.0
2.2
(7.4)
13.0
10.2
1.1
0.8
(4.2)
7.3
-
-
Bank of India
Neutral
83
-
7,767
15,972
17,271
1.9
2.0
15.3
33.4
5.4
2.5
0.2
0.2
3.6
7.6
-
-
Canara Bank
Neutral
193
-
10,496
15,441
16,945
2.0
2.1
46.6
70.4
4.2
2.8
0.4
0.3
8.0
11.2
-
-
Dena Bank
Neutral
29
-
1,904
3,440
3,840
2.1
2.3
7.3
10.0
3.9
2.8
0.3
0.2
6.1
7.9
-
-
Dewan Housing Finance Buy
189
270
5,515
1,828
2,225
2.9
3.0
24.9
29.7
7.6
6.4
1.2
1.0
15.1
16.1
-
-
Federal Bank
Neutral
51
-
8,685
3,279
3,787
2.8
2.9
3.9
5.5
12.8
9.1
1.0
1.0
8.4
10.8
-
-
HDFC
Neutral
1,207
-
190,679
10,358
11,852
3.3
3.3
41.1
47.0
29.4
25.7
5.6
5.1
24.7
24.9
-
-
HDFC Bank
Accumulate
1,173
1,262
296,578
38,606
47,696
4.4
4.5
48.8
61.4
24.0
19.1
4.1
3.6
18.7
20.0
-
-
ICICI Bank
Neutral
234
-
136,345
34,279
39,262
3.3
3.3
21.0
24.4
11.2
9.6
1.9
1.6
14.4
14.7
-
-
IDBI Bank
Neutral
65
-
13,475
9,625
10,455
1.8
1.8
8.5
14.2
7.7
4.6
0.5
0.4
5.9
9.3
-
-
Indian Bank
Neutral
90
-
4,313
6,160
6,858
2.5
2.5
24.5
29.8
3.7
3.0
0.3
0.3
7.7
8.6
-
-
LIC Housing Finance
Buy
444
592
22,412
3,179
3,758
2.6
2.6
32.9
40.6
13.5
10.9
2.5
2.1
19.6
20.7
-
-
Oriental Bank
Neutral
81
-
2,790
7,643
8,373
2.4
2.4
37.2
45.4
2.2
1.8
0.2
0.2
8.2
9.4
-
-
Punjab Natl.Bank
Neutral
74
-
14,531
23,122
26,022
2.8
2.8
7.0
21.6
10.6
3.4
0.5
0.5
3.4
10.0
-
-
South Ind.Bank
Neutral
18
-
2,458
1,965
2,185
2.5
2.5
2.5
3.3
7.3
5.5
0.7
0.7
9.5
11.7
-
-
St Bk of India
Neutral
175
-
135,965
79,958
86,061
2.6
2.6
13.4
20.7
13.1
8.5
1.1
1.0
11.5
12.8
-
-
Union Bank
Neutral
109
-
7,517
12,646
14,129
2.3
2.4
31.0
39.1
3.5
2.8
0.4
0.3
9.8
11.4
-
-
Vijaya Bank
Neutral
30
-
2,793
3,536
3,827
1.9
1.9
5.5
6.7
5.4
4.5
0.5
0.4
7.8
8.8
-
-
Yes Bank
Neutral
996
-
41,922
7,190
9,011
3.2
3.3
58.2
69.7
17.1
14.3
3.1
2.6
19.2
19.6
-
-
FMCG
Asian Paints
Neutral
982
-
94,236
16,553
19,160
16.0
16.2
17.7
21.5
55.6
45.7
14.8
13.3
29.4
31.2
5.5
4.8
Britannia
Neutral
2,751
-
33,002
8,481
9,795
14.0
14.1
65.5
78.3
42.0
35.1
19.9
16.3
38.3
41.2
3.8
3.3
www.angelbroking.com
Stock Watch
May 26, 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
Colgate
Neutral
835
-
22,708
4,136
4,632
22.5
23.3
22.2
25.3
37.6
33.0
22.9
20.4
68.6
67.5
5.4
4.8
Dabur India
Neutral
289
-
50,795
9,370
10,265
17.6
17.3
7.3
8.1
39.4
35.7
10.2
9.3
31.7
30.6
5.2
4.8
GlaxoSmith Con*
Accumulate
5,627
6,118
23,664
4,519
5,142
19.6
19.8
164.3
191.2
34.3
29.4
9.5
8.1
30.8
29.9
4.6
4.1
Godrej Consumer
Neutral
1,457
-
49,617
9,003
10,335
18.1
18.7
34.1
41.8
42.7
34.9
9.2
7.9
23.9
24.8
5.7
4.9
HUL
Neutral
839
-
181,522
33,299
35,497
17.1
17.1
18.9
20.0
44.4
41.9
22.5
25.8
87.6
80.8
5.3
4.9
ITC
Neutral
356
-
286,802
36,804
38,776
37.9
37.9
12.2
12.9
29.2
27.6
8.1
7.1
27.7
25.8
7.4
7.0
Marico
Neutral
251
-
32,345
6,151
6,966
17.2
17.3
5.4
6.4
46.4
39.2
14.6
11.5
33.2
32.4
5.1
4.5
Nestle*
Neutral
6,128
-
59,080
9,393
10,507
22.2
22.3
106.8
121.8
57.4
50.3
20.2
18.1
34.8
36.7
6.1
5.4
Tata Global
Accumulate
120
137
7,542
8,635
9,072
9.8
9.9
5.8
7.2
20.6
16.6
1.8
1.8
6.8
7.4
0.9
0.9
Procter & Gamble
Buy
6,301
7,369
20,454
2,588
2,939
23.3
23.2
130.2
146.2
48.4
43.1
96.5
92.5
27.6
25.3
7.5
6.5
Hygiene
IT
HCL Tech^
Buy
749
1,000
105,651
37,061
30,781
21.5
20.5
51.4
40.0
14.6
18.7
3.8
2.7
20.1
20.3
2.6
2.8
Infosys
Accumulate
1,209
1,374
277,666
62,441
70,558
27.5
27.5
59.0
65.3
20.5
18.5
4.1
3.7
22.2
22.4
3.9
3.4
TCS
Buy
2,527
3,004
497,868
108,646
122,770
28.3
28.3
123.7
141.0
20.4
17.9
6.8
6.2
33.1
34.6
4.1
3.6
Tech Mahindra
Neutral
529
-
51,285
26,524
29,177
16.2
17.0
28.8
33.6
18.4
15.7
3.5
3.0
19.3
19.1
1.7
1.5
Wipro
Buy
546
680
134,963
50,808
56,189
23.7
23.8
37.3
40.7
14.6
13.4
2.8
2.6
19.2
17.7
2.1
1.8
Media
D B Corp
Accumulate
330
356
6,069
2,025
2,187
27.4
27.4
17.4
18.9
19.0
17.5
4.3
3.9
22.9
23.7
3.0
2.7
HT Media
Neutral
87
-
2,026
2,495
2,673
12.9
13.2
6.8
7.2
12.8
12.1
1.0
0.9
7.5
7.8
0.4
0.3
Jagran Prakashan
Buy
173
205
5,654
2,170
2,355
27.2
26.2
8.9
9.9
19.4
17.5
4.1
3.6
20.9
20.5
2.5
2.3
Sun TV Network
Neutral
369
-
14,538
2,510
2,763
71.8
71.5
21.9
24.8
16.8
14.9
4.0
3.6
22.8
24.3
5.3
4.8
Hindustan Media
Neutral
266
-
1,952
914
1,016
21.7
21.5
21.9
23.3
12.1
11.4
2.2
1.9
18.0
16.2
1.5
1.3
Ventures
Metals & Mining
Coal India
Buy
281
380
177,490
76,167
84,130
19.9
22.3
22.4
25.8
12.5
10.9
4.5
4.4
35.5
41.0
1.7
1.5
Hind. Zinc
Neutral
167
-
70,373
14,641
14,026
50.4
50.4
17.7
16.0
9.4
10.4
1.4
1.3
16.2
13.2
2.4
2.3
Hindalco
Neutral
89
-
18,306
104,356
111,186
8.7
9.5
6.7
11.1
13.2
8.0
0.5
0.5
3.5
5.9
0.7
0.6
JSW Steel
Neutral
1,303
-
31,506
42,308
45,147
16.4
20.7
(10.3)
49.5
26.3
1.5
1.4
(1.0)
5.6
1.8
1.7
NMDC
Neutral
91
-
36,039
8,237
10,893
46.6
44.5
10.0
11.7
9.1
7.8
1.0
0.9
12.5
13.0
4.2
3.2
SAIL
Neutral
40
-
16,562
45,915
53,954
7.2
10.5
1.5
4.4
26.6
9.2
0.4
0.4
2.3
4.1
1.0
0.9
Vedanta
Neutral
99
-
29,439
71,445
81,910
26.2
26.3
12.9
19.2
7.7
5.2
0.5
0.5
7.2
8.9
0.9
0.7
Tata Steel
Neutral
324
-
31,501
126,760
137,307
8.9
11.3
6.4
23.1
51.0
14.1
1.0
1.0
2.0
7.1
0.8
0.8
Oil & Gas
Cairn India
Neutral
138
-
25,957
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
www.angelbroking.com
Stock Watch
May 26, 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
GAIL
Neutral
381
-
48,367
64,856
70,933
9.1
9.6
24.0
28.9
15.9
13.2
1.4
1.3
8.8
9.6
0.9
0.8
ONGC
Neutral
210
-
179,836
154,564
145,998
36.8
37.4
20.8
22.6
10.1
9.3
1.0
0.9
10.1
9.7
1.4
1.5
Petronet LNG
Neutral
267
-
20,025
29,691
31,188
5.8
6.2
12.8
13.4
20.9
19.9
3.1
2.8
15.8
14.8
0.8
0.7
Indian Oil Corp
Accumulate
403
455
97,883
359,607
402,760
5.9
6.1
42.5
48.7
9.5
8.3
1.3
1.1
14.1
14.4
0.4
0.3
Reliance Industries
Buy
949
1,150
307,679
304,775
344,392
12.6
13.4
91.3
102.6
10.4
9.3
1.2
1.1
11.8
12.0
0.9
0.8
Pharmaceuticals
Alembic Pharma
Neutral
550
-
10,372
3,274
3,802
26.9
19.4
35.0
28.7
15.7
19.2
7.0
5.3
55.6
31.2
3.1
2.6
Aurobindo Pharma
Buy
742
856
43,425
14,923
17,162
22.0
23.0
35.7
42.8
20.8
17.3
6.1
4.6
34.0
30.2
3.3
2.8
Aventis*
Accumulate
4,222
4,738
9,725
2,049
2,375
15.4
17.3
115.4
153.5
36.6
27.5
6.0
4.7
19.3
25.8
4.5
3.8
Cadila Healthcare
Buy
320
400
32,790
9,469
11,246
21.2
22.0
14.9
17.1
21.5
18.7
6.1
4.8
28.8
26.6
3.4
2.9
Cipla
Buy
470
605
37,783
13,979
16,447
20.2
18.6
25.7
27.5
18.3
17.1
3.0
2.6
17.6
16.1
2.7
2.2
Dr Reddy's
Accumulate
3,053
3,476
52,065
15,471
17,479
24.6
24.6
138.2
152.4
22.1
20.0
4.1
3.5
19.7
18.7
3.3
2.9
Dishman Pharma
Neutral
156
-
2,511
1,733
1,906
21.5
21.5
10.1
10.0
15.4
15.6
1.8
1.6
10.5
11.2
2.0
1.7
GSK Pharma*
Neutral
3,425
-
29,013
2,870
3,158
20.0
22.1
59.5
68.3
57.6
50.2
17.0
17.5
28.5
34.3
9.6
8.8
Indoco Remedies
Neutral
300
-
2,764
1,033
1,199
15.9
18.2
9.4
13.6
31.9
22.1
4.7
4.0
15.7
19.7
2.8
2.4
Ipca labs
Buy
442
750
5,577
3,363
3,909
12.9
18.6
13.4
28.0
33.0
15.8
2.4
2.1
7.4
14.0
2.0
1.7
Lupin
Buy
1,473
1,809
66,399
13,702
15,912
23.7
26.4
50.5
58.1
29.2
25.4
6.0
4.9
22.9
21.4
5.3
4.2
Sun Pharma
Buy
787
950
189,383
28,163
32,610
25.8
30.7
17.4
26.9
45.2
29.3
4.3
3.7
13.0
16.6
6.2
5.1
Power
Tata Power
Neutral
73
-
19,784
35,923
37,402
22.6
22.8
4.1
5.2
18.0
14.2
1.4
1.3
7.5
9.3
1.5
1.4
NTPC
Neutral
142
-
116,962
87,271
99,297
23.5
23.5
11.8
13.3
12.1
10.7
1.4
1.3
11.5
12.2
2.4
2.1
Power Grid
Accumulate
149
170
78,186
20,702
23,361
86.7
86.4
12.1
13.2
12.4
11.3
1.8
1.6
15.6
15.1
8.7
8.1
Real Estate
MLIFE
Buy
443
554
1,817
826
1,133
20.1
21.8
22.6
30.7
19.6
14.4
1.2
1.1
6.0
7.4
4.1
2.8
Telecom
Bharti Airtel
Neutral
351
-
140,489
101,748
109,191
32.1
31.7
12.0
12.5
29.3
28.1
2.0
1.9
6.9
6.7
2.0
1.8
Idea Cellular
Neutral
110
-
39,462
34,282
36,941
32.0
31.5
5.9
6.2
18.6
17.7
1.7
1.5
9.9
9.3
1.7
1.6
zOthers
Abbott India
Neutral
4,554
-
9,678
2,715
3,153
14.5
14.1
134.3
152.2
33.9
29.9
8.5
7.0
27.4
25.6
3.3
2.8
Bajaj Electricals
Neutral
240
-
2,423
4,719
5,287
5.2
5.8
8.6
12.7
28.1
19.0
3.2
2.8
11.4
14.8
0.5
0.5
Finolex Cables
Neutral
291
-
4,457
2,520
2,883
12.2
12.0
12.7
14.2
23.0
20.5
3.1
2.8
13.6
13.5
1.5
1.3
Goodyear India*
Buy
505
582
1,164
1,800
1,600
11.7
11.5
58.7
52.9
8.6
9.5
1.9
1.7
24.6
18.7
0.4
0.4
Hitachi
Neutral
1,339
-
3,642
1,779
2,081
7.8
8.8
21.8
33.4
61.4
40.1
9.9
8.0
17.4
22.1
2.1
1.8
Jyothy Laboratories
Neutral
290
-
5,259
1,620
1,847
11.5
11.5
7.3
8.5
39.8
34.3
5.2
4.8
13.3
14.4
3.1
2.6
www.angelbroking.com
Stock Watch
May 26, 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
MRF
Buy
31,927
45,575
13,541
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
12,890
-
14,378
1,929
2,450
19.8
20.1
229.9
299.0
56.1
43.1
24.7
17.2
52.1
47.1
7.5
5.9
Relaxo Footwears
Neutral
450
-
5,403
1,767
2,152
12.3
12.5
19.3
25.1
23.4
18.0
5.7
4.4
27.7
27.8
3.1
2.5
Siyaram Silk Mills
Buy
1,030
1,354
966
1,636
1,815
11.5
11.5
89.9
104.1
11.5
9.9
1.9
1.6
17.9
17.8
0.8
0.7
Styrolution ABS India* Neutral
577
-
1,014
1,271
1,440
8.6
9.2
32.0
41.1
18.0
14.0
1.8
1.7
10.7
12.4
0.8
0.7
TVS Srichakra
Buy
2,320
2,932
1,776
2,035
2,252
15.9
15.3
248.6
268.1
9.3
8.7
4.1
2.9
43.6
33.9
0.9
0.8
HSIL
Neutral
290
-
2,093
2,123
2,384
16.1
16.5
15.0
18.9
19.3
15.3
1.5
1.4
8.0
9.4
1.3
1.2
Kirloskar Engines India
Neutral
243
-
3,510
2,403
2,554
8.6
9.9
9.2
10.5
26.4
23.1
2.5
2.4
9.7
10.7
1.1
1.0
Ltd
M M Forgings
Buy
446
546
538
511
615
21.7
21.6
43.1
55.8
10.3
8.0
1.9
1.5
19.9
21.2
1.3
1.0
Banco Products (India) Neutral
128
-
914
1,208
1,353
11.0
12.3
10.8
14.5
11.9
8.8
1.4
1.2
11.9
14.5
0.7
0.6
Competent Automobiles Neutral
146
-
90
1,040
1,137
3.2
3.1
25.7
28.0
5.7
5.2
0.9
0.8
15.0
14.3
0.1
0.1
Nilkamal
Neutral
1,198
-
1,787
1,871
2,031
10.7
10.5
63.2
69.8
19.0
17.2
3.1
2.7
17.6
16.6
1.0
0.9
Visaka Industries
Buy
140
162
222
1,020
1,120
8.7
9.1
13.9
20.1
10.0
6.9
0.6
0.6
6.4
8.7
0.5
0.4
Transport Corporation of
Neutral
273
-
2,075
2,830
3,350
8.8
9.0
14.4
18.3
19.0
14.9
2.9
2.5
15.4
17.1
0.9
0.7
India
Elecon Engineering
Neutral
59
-
638
1,359
1,482
10.3
13.7
0.8
3.9
73.0
15.1
1.2
1.2
1.6
7.8
0.8
0.8
Surya Roshni
Buy
153
201
668
2,992
3,223
8.1
8.4
14.7
18.3
10.4
8.3
1.0
0.9
9.7
11.0
0.5
0.5
MT Educare
Neutral
175
-
696
286
366
18.3
17.7
7.7
9.4
22.6
18.7
4.8
4.2
20.2
21.1
2.3
1.8
Radico Khaitan
Buy
85
125
1,126
1,543
1,659
12.6
13.0
5.8
6.3
14.7
13.4
1.3
1.2
8.5
8.6
1.2
1.1
Garware Wall Ropes
Buy
349
473
763
862
974
11.2
11.2
24.9
29.6
14.0
11.8
2.1
1.8
15.1
15.4
0.9
0.7
Wonderla Holidays
Neutral
382
-
2,159
206
308
44.0
43.6
9.0
12.9
42.5
29.6
5.8
5.3
13.7
17.8
10.4
6.9
Linc Pen & Plastics
Neutral
203
-
301
340
371
8.3
8.9
10.8
13.2
18.8
15.4
3.0
2.6
16.0
17.1
0.9
0.8
The Byke Hospitality
Neutral
167
-
671
222
287
20.5
20.5
5.6
7.6
29.7
22.2
5.6
4.6
18.9
20.8
3.1
2.4
Interglobe Aviation
Neutral
985
-
35,506
17,022
21,122
20.7
14.5
63.9
53.7
15.4
18.4
23.1
18.9
149.9
103.2
2.1
1.7
Coffee Day Enterprises
Neutral
256
-
5,264
2,692
2,964
17.0
18.6
-
4.7
-
53.9
3.1
3.0
0.2
5.5
2.4
2.2
Ltd
Navneet Education
Neutral
89
-
2,127
998
1,062
24.1
24.0
5.8
6.1
15.5
14.7
3.4
3.0
22.0
20.6
2.2
2.1
Navkar Corporation
Buy
185
265
2,638
365
436
38.3
37.5
5.6
5.9
32.8
31.5
2.1
1.9
6.3
6.1
8.0
6.9
UFO Moviez
Neutral
515
-
1,422
558
619
32.0
33.2
22.5
30.0
22.9
17.2
2.8
2.4
12.0
13.8
2.4
2.0
VRL Logistics
Neutral
276
-
2,520
1,725
1,902
16.5
16.7
12.2
14.6
22.7
19.0
4.7
4.2
20.8
21.9
1.6
1.4
Team Lease Serv.
Neutral
921
-
1,575
2,565
3,229
1.3
1.5
15.2
22.8
60.7
40.5
4.9
4.3
8.0
10.7
0.5
0.4
www.angelbroking.com
Stock Watch
May 26, 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
S H Kelkar & Co.
Neutral
224
-
3,240
928
1,036
15.3
15.1
4.9
6.1
45.4
36.7
4.3
3.9
9.4
10.7
3.4
3.0
Quick Heal
Neutral
228
-
1,598
339
408
27.8
27.3
7.1
7.7
32.3
29.5
2.7
2.7
8.5
9.3
3.6
3.1
Narayana Hrudaya
Neutral
324
-
6,620
1,603
1,873
10.9
11.5
1.0
2.6
340.1
122.5
8.2
7.5
2.4
6.1
4.3
3.6
Manpasand Bever.
Neutral
520
-
2,602
540
836
19.9
19.6
10.2
16.9
50.8
30.8
4.1
3.7
8.1
12.0
4.5
2.9
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on May 25, 2016
www.angelbroking.com
Market Outlook
May 26, 2016
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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