Download - Market Outlook 290812
-
7/31/2019 Market Outlook 290812
1/15
Market OutlookAugust 29, 2012
www.angelbroking.com
Market OutlookAugust 29, 2012
Dealers DiaryIndian markets are expected to open in the green following positive start to GSX
Nifty and Asian indices.
The US markets showed a lack of direction throughout the trading day on Tuesday,
extending the lackluster performance that was seen in the previous session. Traders
largely remained on the sidelines ahead of the remarks by Federal Reserve
Chairman who is scheduled to speak on Friday. On the macro front, while S&P's
report showed an unexpected increase in home prices, a Conference Board report
showed a notable deterioration in consumer confidence. Meanwhile, European
policy makers are attempting to reach an agreement to purchase bonds from
troubled Euro Zone countries such as Italy and Spain in order to reduce their
borrowing costs.
Going ahead, trading on Wednesday could be impacted by the release of the
Commerce Department's revised report on US GDP for 2QCY2012 as well as the
National Association of Realtor's report on pending home sales.
Markets TodayThe trend deciding level for the day is 17,638/5,335 levels. If Nifty trades above
this level during the first half-an-hour of trade then we may witness a further rally
up to 17,706 17,780/5,358 5,382 levels. However, if Nifty trades below
17,638/5,335 levels for the first half-an-hour of trade then it may correct up to
17,564 17,497/5,312 5,289 levels.
SENSEX 17,497 17,564 17,638 17,706 17,780
NIFTY 5,289 5,312 5,335 5,358 5,382
News Analysis CAG blames ONGC over inadequate efforts in oil and gas exploration L&T bags orders worth `1,002cr Sun Pharmaceutical USFDA lifts ban on Caraco MM to launch compact SUVQuanto in September 2012 Supreme Court directs pollution panel to probe Sterlites Tuticorin plant Goa state pollution control board halts Sesa Goas coke plant activities Tech Mahindra in talks to buy Bharti arm Comviva Technologies for ~`750cr Tata Steel completes open offer in Tata Sponge Iron Result Preview: MphasisRefer detailed news analysis on the following page
Net Inflows (August 27, 2012)
FII 1,802 1,169 632 2,443 59,786
MFs 387 626 (239) (144) (8,991)
FII Derivatives (August 28, 2012)
Index Futures 4,678 4,245 434 19,818
Stock Futures 6,388 6,970 (582) 27,203
Gainers / Losers
United Breweries 629 9.2 Wockhardt 1,115 (7.4)
Gujarat State Petr. 80 4.6 Educomp Solutions 148 (6.2)
Rajesh Exports 123 4.0 JP Power 27 (5.8)
NMDC 193 3.5 Amtek Auto 87 (5.3)
Pipavav Defense 64 2.9 Sterlite Industries 105 (5.1)
BSE Sensex (0.3) (47.1) 17,632
Nifty (0.3) (15.7) 5,335
MID CAP (1.0) (62.7) 5,994
SMALL CAP (1.4) (92.5) 6,419
BSE HC (0.1) (10.4) 7,397
BSE PSU (0.7) (47.9) 7,030
BANKEX (1.0) (112.6) 11,544
AUTO (0.8) (77.5) 9,474
METAL (2.4) (250.4) 10,027
OIL & GAS (0.3) (22.9) 8,403
BSE IT 0.9 53.0 5,798
Dow Jones (0.2) (21.7) 13,103NASDAQ 0.1 4.0 3,077
FTSE (0.0) (0.9) 5,776
Nikkei (0.6) (52.1) 9,033
Hang Seng 0.1 13.1 19,812
Straits Times (0.2) (4.4) 3,040
Shanghai Com 0.9 17.5 2,073
INFY (0.3) (0.1) $43.1
WIT 1.3 0.1 $8.0IBN (2.6) (0.9) $33.3
HDB (0.9) (0.3) $33.9
Advances 929 352
Declines 1,889 1,121
Unchanged 117 78
BSE 2,336
NSE 9,501
-
7/31/2019 Market Outlook 290812
2/15
-
7/31/2019 Market Outlook 290812
3/15
www.angelbroking.com
Market OutlookAugust 29, 2012
corrective actions on 483's. Currently, Caraco may resume products of only these
two products. Manufacturing of other products from these sites, including those
pending approval with the USFDA, will be subject to similar rigorous approval
procedure. As a result, the increase in production at these sites and resultant
revenue contribution is expected to be gradual. With reference to other
requirements of the same Consent Decree, Caraco is required to now work withan external auditor conducting regular inspections for an extended period.
MM to launch compact SUV Quanto in September 2012
Mahindra and Mahindra (MM) announced that it will introduce a new compact
sports utility vehicle (SUV) in the second half of September 2012. The vehicle which
was initially codenamed mini Xylo will be called Quanto.Quanto, a sub four-metrecar will be powered by 1.5litre diesel engine and is based on the Ingenio platform
which is also seen inXylo.While, MM has not revealed the price of the new vehicle
yet, according to the sources it is likely to be priced between `5.5lakh-`7lakh. With
the launch of the compact SUV, MM intends to create a new segment and will
enable buyers of diesel hatchback and entry level sedans to upgrade to the utility
vehicle segment. We believe that the new SUV will enable the company to further
consolidate its position in the utility vehicle segment which is seeing intense
competition lately. Further, it will also enable MM to sustain the growth momentum
in the automotive segment. At `771, the stock is trading at 14.0x FY2014E
earnings.
Supreme Court directs pollution panel to probe Sterlites
Tuticorin plant
The Supreme Court (SC) has ordered joint investigation by the Central Pollution
Control Board (CPCB) and the Tamil Nadu Pollution Control Board (TNPCB) into
the emission control and effluent treatment measures undertaken by Sterlite
Industries Ltd's (Sterlite) copper plant at Tuticorin and submit separate reports on
the matter. SC has stated that the probe must be started on September 7, 2012
and should be completed by September 14, 2012. On September 28, 2010 the
Madras High Court had ordered to shut down its Tuticorin copper plant due to
violation of environment norms. Sterlite, however, had got a stay order on this
matter by appealing to the SC which had directed Sterlite to follow the
recommendations made by TNPCB. The current probe ordered by SC is to ensure
that all the measures suggested by TNPCB are duly implemented by the company.
Sterlites Tuticorin plant is a part of its standalone operations which contributes
~10% to Sterlites consolidated EBITDA. Until further clarity on the matter,
-
7/31/2019 Market Outlook 290812
4/15
www.angelbroking.com
Market OutlookAugust 29, 2012
Goa state pollution control board halts Sesa Goas coke plant
activities
Goa state pollution control board (GSPCB) has directed Sesa Goa to stop its
280,000 tonne coke oven plant at Amona village within two days after two high-
capacity diesel burners misfired causing pollution in the whole village. GSPCB hasalso directed Sesa Goa to take all necessary precautions by carrying out root
cause analysis for misfiring of burners. The villagers protested against the pollution
and damages to the crops and water bodies near the plant. We do not expect
material impact on Sesa Goas financials due to this order as its contribution to
Sesa Goas consolidated EBIT is insignificant (0.5% of the companys consolidated
EBIT during FY2012). .
Tech Mahindra in talks to buy Bharti arm Comviva Technologies
for ~`750cr
As per media reports, Bharti Group is in advanced discussions to sell Comviva
Technologies, a mobile financial and value added services (VAS) solution provider,
to Tech Mahindra for ~`750cr. This will be the second sale of a privately-held
company by the group in a short span. Last week, the group announced the
divestment of training solution firm Centum Learning to Everonn in a cash and
share transaction.
Formerly known as Bharti Telesoft, Comviva is about 50% owned by Mittal and his
family through holding firms and trusts. It posted revenues of `380cr and
operating profit of ~`60cr in FY2012. This deal is slightly marginally positive for
Tech Mahindra but currently we keep or estimates unchanged until any is receivedconfirmation from the company. We maintain Neutral rating on Tech Mahindra
given recent stock run-up.
Tata Steel completes open offer in Tata Sponge Iron
Tata Steel, completed the open offer in Tata Sponge Iron Ltd (TSIL), by acquiring
17,34,040 equity shares at `375 per share for a total consideration of `65cr. This
led to an increase in Tata Steels stake in TSIL by 11.3% from 39.7% to 51.0%. Of
the total 1,54,00,000 equity shares, 28,87,271 shares were tendered, which
constitutes 33.0% of total non promoter shareholding, thereby resulting in anacceptance ratio of 60.1%.
Result Preview
Mphasis is slated to announce its 3QFY2012 results today. We expect the
company to record revenues of US$264mn, up 1% qoq. In INR terms, revenues
are expected to come in at`
1,372cr, up 3.2% qoq. EBITDA margin is expected toexpand merely by 19bp qoq to 19.1% as benefits of INR depreciation will be
absorbed by negative impact from wage hike given during the quarter. PAT is
expected to be at `226cr.
-
7/31/2019 Market Outlook 290812
5/15
www.angelbroking.com
Market OutlookAugust 29, 2012
FY2013E 5,704 18.6 754 36.0 14.0 10.2 1.4 4.7 0.9
FY2014E 6,009 17.7 777 37.1 12.6 9.9 1.3 4.1 0.7
Economic and Political News 52 NELP blocks stuck for environment, defense clearances: Government Land Acquisition Bill referred to Group of Ministers DTC requires a fresh look: ChidambaramCorporate News L&T Construction wins orders worth `1,000cr JSPL gets nod to buy Canada firm for `600cr
IL&FS Engineering wins contracts worth`
331cr Escorts to hike tractor prices by 2%-3% from September 1, 2012
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
-
7/31/2019 Market Outlook 290812
6/15
Global economic events release calendar
Date Country Event Description Unit Period Bloomberg Data
Last Reported Estimated
August 29, 2012 US GDP Qoq (Annualised) % Change 2Q S 1.50 1.70
August 30, 2012 US Initial Jobless claims Thousands Aug 25 372.00 370.00
Euro ZoneEuro-Zone ConsumerConfidence
Value Aug F (24.60) (24.60)
Germany Unemployment change (000's) Thousands Aug 7.00 7.00
August 31, 2012 India Qtrly GDP YoY% % Change 2Q 5.30 5.30
China PMI Manufacturing Value Aug 50.10 50.00
September 03, 2012 Germany PMI Manufacturing Value Aug F 45.10 --
India Imports YoY% % Change Jul (13.46) --
India Exports YoY% % Change Jul (5.45) --
UK PMI Manufacturing Value Aug 45.40 --
September 05, 2012 Germany PMI Services Value Aug F 48.30 --
September 06, 2012 Euro Zone Euro-Zone GDP s.a. (QoQ) % Change 2Q P (0.20) --
UK BOE Announces rates % Ratio Sep 6 0.50 0.50
Euro Zone ECB announces interest rates % Sep 6 0.75 0.63
September 07, 2012 UK Industrial Production (YoY) % Change Jul (4.30) --
US Change in Nonfarm payrolls Thousands Aug 163.00 120.00
US Unnemployment rate % Aug 8.30 8.30
September 09, 2012 China Industrial Production (YoY) % Change Aug 9.20 --
September 08, 2012 China Consumer Price Index (YoY) % Change Aug 1.80 --
September 10, 2012 China Exports YoY% % Change Aug 1.00 --
September 12, 2012 UK Jobless claims change % Change Aug (5.90) --
India Industrial Production YoY % Change Jul (1.80) --
September 13, 2012 US Producer Price Index (mom) % Change Aug 0.30 --
US FOMC rate decision % Sep 13 0.25 --
September 14, 2012 Euro Zone Euro-Zone CPI (YoY) % Aug 2.40 --
IndiaMonthly Wholesale PricesYoY%
% Change Aug 6.87 --
US Industrial Production % Aug 0.65 --
US Consumer price index (mom) % Change Aug -- --
41169 India RBI Repo rate % Sep 17 8.00 --
India RBI Cash Reserve ratio % Sep 17 4.75 --
India RBI Reverse Repo rate % Sep 17 7.00 --
41170 UK CPI (YoY) % Change Aug 2.60 --
41171 US Existing home sales Millions Aug 4.47 --
US Housing Starts Thousands Aug 746.00 --
US Building permits Thousands Aug 811.00 --
41178 US New home sales Thousands Aug 372.00 --
41179 UK GDP (YoY) % Change 2Q F (0.50) --
41199 China Real GDP (YoY) % Change 3Q 7.60 --
41200 China Real GDP (YoY) % Change 3Q 7.60 --
Source: Bloomberg, Angel Research
www.angelbroking.com
August 29, 2012
Market Outlook
-
7/31/2019 Market Outlook 290812
7/15
Market StrategyAugust 29, 2012
www.angelbroking.com
Macro watch
Exhibit 1 :Q uarterly G D P trends
5. 9
7 .5
9. 8
7. 4
9 .4
8. 5
7. 68. 2
9. 2
8. 0
6. 76 .1
5. 3
3. 0
4. 0
5. 0
6. 0
7. 0
8. 0
9. 0
10.0
4Q
FY09
1Q
FY10
2Q
FY10
3Q
FY10
4Q
FY10
1Q
FY11
2Q
FY11
3Q
FY11
4Q
FY11
1Q
FY12
2Q
FY12
3Q
FY12
4Q
FY12
(%)
Source: CSO, Ang el Research
Exhibit 2 :IIP trends
3 .7 3. 42. 5
(5.0)
6. 0
2 .7
1. 0
4. 3
(2.8) (0.9)
2. 5
(1.8)
(6.0)
(4.0)
(2.0)
-
2. 0
4. 0
6. 0
8. 0
Ju
l-11
Aug
-11
Sep
-11
O
ct-11
Nov
-11
Dec
-11
Jan
-12
Fe
b-1
2
M
ar
-12
Apr
-12
M
ay
-12
Jun
-12
(%)
Source: M O SPI, Ang el Research
Exhibit 3 :M onthly WPI inflation trends
9. 8 10.0 9. 9 9. 5
7. 76. 9
7. 4 7. 7 7. 5 7. 6 7. 3 6. 9
0. 0
2. 0
4. 0
6. 0
8. 0
10.0
12.0
Aug
-11
Sep
-11
O
ct-11
Nov
-11
Dec
-11
Jan
-12
Fe
b-
12
M
ar-
12
Apr-
12
M
ay
-12
Jun
-12
Ju
l-12
(%)
Source: M O SPI, Ang el Research
Exhibit 4 :M a nufacturing a nd services PM I
48.0
50.0
52.0
54.0
56.0
58.0
60.0
Ju
l-11
Aug
-11
Sep
-11
O
ct-11
Nov
-11
Dec
-11
Jan
-12
Fe
b-1
2
M
ar
-12
Apr
-12
M
ay
-12
Jun
-12
Ju
l-12
M fg. PM I Services PM I
Source: Ma rket, Angel Research; N ote: Level above 50 indicates expansion
Exhibit 5 :Expo rts an d impo rts growth trends
(30.0)
(15.0)
0. 0
15.0
30.0
45.0
60.0
75.0
Ju
l-11
Aug
-11
Sep
-11
O
ct-11
Nov
-11
Dec
-11
Jan
-12
Fe
b-1
2
M
ar
-12
Apr
-12
M
ay
-12
Jun
-12
Expo rts yo y g ro wth Im ports yo y growth( %)
Source: Bloomberg, Angel Research
Exhibit 6 :Key policy rates
4.00
5.00
6.00
7.00
8.00
9.00
Aug
-11
Sep
-11
O
ct-11
Nov
-11
Dec
-11
Jan
-12
Fe
b-1
2
M
ar-
12
Apr-
12
M
ay
-12
Jun
-12
Ju
l-12
Aug
-12
Repo rate Reverse Repo rate C RR(%)
Source: RBI, Angel Research
-
7/31/2019 Market Outlook 290812
8/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
Agri / Agri Chemical
Rallis Neutral 134 - 2,603 1,466 1,686 14.8 14.8 7.0 8.1 19.1 16.5 4.1 3.5 22.6 22.5 1.9 1.6
United Phosphorus Buy 116 170 5,326 8,421 9,263 16.5 16.5 15.0 17.0 7.7 6.8 1.1 1.0 15.6 15.5 0.8 0.7
Auto & Auto Ancillary
Amara Raja Batteries Accumulate 365 402 3,118 2,844 3,225 15.4 15.5 31.7 36.6 11.5 10.0 3.0 2.4 28.8 26.2 1.0 0.9
Apollo Tyres Accumulate 94 99 4,733 13,412 15,041 11.0 11.0 11.5 14.2 8.2 6.6 1.4 1.2 18.7 19.4 0.5 0.4
Ashok Leyland Buy 21 30 5,548 14,920 16,850 9.0 9.3 2.2 2.8 9.6 7.6 1.8 1.6 13.3 15.6 0.5 0.4
Automotive Axle Buy 335 430 506 993 1,140 11.6 11.5 36.9 43.0 9.1 7.8 1.8 1.5 21.2 21.3 0.6 0.4Bajaj Auto Neutral 1,694 - 49,029 21,285 23,927 18.2 18.3 108.5 121.3 15.6 14.0 6.5 5.2 46.1 41.3 1.9 1.6
Bharat Forge Buy 277 351 6,453 7,004 7,985 16.2 16.4 20.3 25.1 13.6 11.1 2.5 2.1 20.0 20.9 1.1 0.9
Bosch India Neutral 8,661 - 27,196 9,034 10,286 17.8 18.3 373.6 435.8 23.2 19.9 4.8 3.9 20.5 19.8 2.7 2.3
CEAT Buy 115 164 393 4,989 5,634 8.7 8.5 32.7 41.1 3.5 2.8 0.5 0.4 15.8 16.9 0.3 0.2
Exide Industries Accumulate 135 149 11,501 5,899 6,771 16.0 17.0 7.4 9.1 18.4 14.8 3.3 2.8 19.0 20.2 1.6 1.3
FAG Bearings Neutral 1,587 - 2,637 1,505 1,747 17.7 18.0 111.5 130.0 14.2 12.2 3.0 2.4 22.8 21.7 1.5 1.2
Hero Motocorp Buy 1,913 2,428 38,195 26,097 29,963 15.0 15.3 139.5 151.8 13.7 12.6 6.5 4.9 54.6 44.3 1.2 1.0
JK Tyre Buy 108 135 443 7,517 8,329 6.1 6.3 26.2 38.5 4.1 2.8 0.5 0.5 13.4 17.2 0.3 0.3
Mahindra and Mahindra Accumulate 771 879 47,332 36,536 41,650 11.6 11.5 49.3 54.9 15.7 14.1 3.2 2.8 22.1 21.1 1.0 0.9
Maruti Accumulate 1,163 1,227 33,590 42,887 49,079 5.5 6.6 66.8 87.6 17.4 13.3 2.0 1.8 12.1 14.1 0.6 0.5
Motherson Sumi Buy 187 216 7,325 23,342 26,366 7.8 8.2 13.3 18.0 14.0 10.4 3.4 2.7 26.2 28.4 0.5 0.4
Subros Buy 28 34 166 1,230 1,378 8.8 8.6 4.5 5.7 6.1 4.9 0.6 0.6 9.8 11.8 0.4 0.3
Tata Motors Buy 238 292 63,350 195,096 219,428 12.8 12.8 39.0 43.9 6.1 5.4 1.8 1.4 32.6 28.2 0.4 0.3
TVS Motor Accumulate 39 43 1,846 7,545 8,301 6.2 6.1 4.9 5.4 7.9 7.2 1.4 1.2 18.8 18.2 0.2 0.2
Capital Goods
ABB* Sell 735 498 15,573 8,760 10,023 5.5 7.5 12.4 20.7 59.2 35.4 5.7 5.0 10.1 15.2 1.8 1.5BGR Energy Neutral 259 - 1,868 3,669 4,561 11.0 11.0 24.7 29.6 10.5 8.8 1.5 1.4 15.3 16.7 - 0.5
BHEL Neutral 223 - 54,545 47,801 43,757 19.4 19.8 25.7 23.9 8.7 9.3 1.8 1.6 22.7 18.3 1.1 0.9
Blue Star Neutral 178 - 1,600 3,047 3,328 5.4 6.9 12.5 16.2 14.3 11.0 3.4 2.8 26.1 28.2 0.6 0.5
Crompton Greaves Accumulate 115 128 7,351 12,691 14,096 7.0 8.5 6.5 9.1 17.6 12.6 1.9 1.7 11.1 14.2 0.6 0.5
Jyoti Structures Buy 39 59 318 2,622 2,801 10.3 10.7 8.7 13.1 4.5 3.0 0.4 0.4 10.3 14.0 0.3 0.3
KEC International Buy 57 69 1,468 6,858 7,431 7.5 8.3 9.0 11.5 6.4 5.0 1.2 1.0 26.9 27.2 0.3 0.3
LMW Neutral 1,964 - 2,212 2,369 2,727 11.7 11.7 143.4 166.0 13.7 11.8 2.3 2.1 17.4 18.4 0.5 0.3
Thermax Neutral 493 - 5,876 5,514 5,559 8.9 9.6 26.9 28.4 18.4 17.4 3.2 2.8 18.4 17.1 1.0 1.0
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
9/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
Cement
ACC Neutral 1,334 - 25,053 11,220 12,896 20.0 20.6 71.1 81.2 18.8 16.4 3.3 3.0 18.1 19.0 1.9 1.6
Ambuja Cements Neutral 187 - 28,741 10,205 11,659 24.6 24.2 10.8 12.0 17.2 15.5 3.6 3.2 19.7 19.8 2.4 2.0
India Cements Neutral 86 - 2,628 4,393 4,914 19.3 19.5 10.1 12.7 8.5 6.7 0.7 0.7 8.8 10.6 1.1 0.9
J K Lakshmi Cements Neutral 95 - 1,163 1,964 2,278 19.5 20.4 16.3 17.9 5.8 5.3 0.8 0.7 14.7 14.6 0.7 1.1
Madras Cements Neutral 182 - 4,341 3,608 3,928 27.4 26.9 15.6 18.1 11.7 10.1 1.8 1.6 16.8 16.9 1.8 1.6
Shree Cements Neutral 3,493 - 12,168 5,519 6,293 24.5 23.7 156.6 225.3 22.3 15.5 5.5 4.7 22.3 26.0 1.9 1.5
UltraTech Cement Neutral 1,732 - 47,463 20,167 22,752 21.7 23.0 90.8 107.8 19.1 16.1 19.1 16.1 - - 1.9 1.8Construction
Ashoka Buildcon Buy 249 304 1,309 2,014 2,293 22.4 22.4 22.6 26.7 11.0 9.3 1.2 1.1 11.4 11.9 2.5 2.8
Consolidated Co Neutral 14 - 262 2,262 2,522 6.7 7.5 1.5 2.7 9.5 5.3 0.4 0.4 4.4 7.5 0.4 0.4
Hind. Const. Neutral 16 - 949 4,239 4,522 9.9 11.2 (2.3) (1.0) (6.9) (16.2) 0.9 1.0 (11.4) (5.6) 1.1 1.1
IRB Infra Buy 122 166 4,052 3,964 4,582 42.3 40.2 15.5 16.9 7.9 7.2 1.2 1.1 16.6 15.8 2.6 2.5
ITNL Buy 166 232 3,231 6,840 7,767 26.4 26.1 24.4 28.4 6.8 5.9 1.0 0.9 16.0 16.2 2.6 2.8
IVRCL Infra Buy 40 61 1,077 5,510 6,722 8.8 9.0 2.5 4.6 15.9 8.8 0.5 0.5 3.4 5.8 0.7 0.6
Jaiprakash Asso. Buy 70 91 14,981 15,259 17,502 25.7 24.7 4.2 5.0 16.6 14.1 1.4 1.3 8.5 9.3 2.3 2.0
Larsen & Toubro Accumulate 1,362 1,553 83,613 60,474 69,091 12.1 11.5 79.7 85.4 17.1 16.0 2.9 2.5 16.3 15.1 1.5 1.4
Madhucon Proj Buy 31 56 230 2,206 2,502 10.7 10.7 4.6 4.7 6.7 6.7 0.3 0.3 5.2 5.0 0.7 0.7
Nagarjuna Const. Buy 34 45 875 5,804 6,513 8.0 8.6 3.0 3.5 11.2 9.7 0.4 0.4 3.2 3.6 0.6 0.7
Patel Engg. Neutral 69 - 483 3,609 3,836 13.1 13.1 14.0 14.6 4.9 4.8 0.3 0.3 6.3 6.1 1.0 1.0
Punj Lloyd Neutral 46 - 1,543 11,892 13,116 8.9 8.9 1.7 3.1 27.4 15.0 0.5 0.5 1.9 3.4 0.5 0.5
Sadbhav Engg. Buy 135 182 2,027 2,789 3,147 10.6 10.7 8.4 10.4 16.0 12.9 2.2 1.9 15.0 15.6 0.9 0.8
Simplex Infra Buy 197 265 976 6,732 7,837 8.1 8.4 23.5 29.4 8.4 6.7 0.8 0.7 9.6 11.0 0.5 0.4
FinancialsAllahabad Bank Accumulate 120 128 5,993 7,233 8,579 3.1 3.3 40.5 40.9 3.0 2.9 0.5 0.5 19.4 17.0 - -
Andhra Bank Neutral 91 - 5,112 4,959 5,787 3.1 3.1 22.7 24.5 4.0 3.7 0.6 0.6 16.0 15.3 - -
Axis Bank Buy 1,016 1,373 42,126 15,961 19,583 3.1 3.2 117.3 143.1 8.7 7.1 1.6 1.4 20.1 20.8 - -
Bank of Baroda Buy 627 829 24,548 15,830 19,300 2.6 2.7 118.9 147.1 5.3 4.3 0.8 0.7 16.7 18.0 - -
Bank of India Buy 265 323 15,202 13,159 15,851 2.4 2.5 61.1 71.1 4.3 3.7 0.7 0.6 16.6 17.0 - -
Bank of Maharashtra Neutral 44 - 2,577 3,471 3,889 3.1 3.1 9.0 11.5 4.8 3.8 0.6 0.6 13.7 15.5 - -
Canara Bank Buy 321 421 14,198 11,334 13,629 2.2 2.3 75.4 85.1 4.3 3.8 0.6 0.6 15.2 15.3 - -
Central Bank Accumulate 64 70 4,741 7,181 8,365 2.5 2.7 16.3 21.8 3.9 3.0 0.7 0.6 12.7 15.1 - -
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
10/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
Financials
Corporation Bank Buy 370 436 5,483 5,067 5,998 2.1 2.3 105.6 111.0 3.5 3.3 0.6 0.5 17.6 16.3 - -
Dena Bank Buy 87 107 3,033 3,177 3,595 2.8 2.8 25.2 25.4 3.4 3.4 0.6 0.5 18.9 16.4 - -
Federal Bank Accumulate 402 459 6,871 2,697 3,171 3.4 3.4 47.9 58.0 8.4 6.9 1.1 1.0 13.6 14.7 - -
HDFC Reduce 723 671 110,872 7,340 8,805 3.5 3.5 31.5 37.8 23.0 19.1 4.6 4.1 34.8 32.2 - -
HDFC Bank Neutral 588 - 138,639 21,936 27,454 4.4 4.4 28.7 36.0 20.5 16.3 3.9 3.3 20.7 22.0 - -
ICICI Bank Buy 922 1,169 105,991 22,356 27,157 2.9 3.0 68.7 82.0 13.4 11.3 1.6 1.5 14.2 15.5 - -
IDBI Bank Buy 84 101 10,745 7,952 9,876 1.9 2.2 18.5 23.6 4.6 3.6 0.6 0.5 12.8 14.7 - -Indian Bank Buy 162 190 6,982 6,294 7,191 3.4 3.4 40.6 44.9 4.0 3.6 0.7 0.6 18.1 17.4 - -
IOB Buy 69 80 5,463 7,473 8,732 2.5 2.5 16.7 22.6 4.1 3.0 0.5 0.4 11.8 14.4 - -
J & K Bank Accumulate 926 1,026 4,489 2,625 2,921 3.6 3.5 194.4 191.9 4.8 4.8 0.9 0.8 21.2 18.0 - -
LIC Housing Finance Accumulate 249 279 12,556 1,867 2,338 2.4 2.4 21.1 28.5 11.8 8.7 1.9 1.7 17.5 20.4 - -
Oriental Bank Buy 211 278 6,166 6,518 7,458 2.8 2.9 61.3 65.1 3.5 3.3 0.5 0.5 15.2 14.3 - -
Punjab Natl.Bank Buy 677 950 22,956 20,116 23,625 3.3 3.4 152.8 173.9 4.4 3.9 0.8 0.7 18.2 18.0 - -
South Ind.Bank Buy 22 27 2,481 1,514 1,717 2.8 2.7 4.0 4.2 5.5 5.2 1.1 0.9 20.5 18.5 - -
St Bk of India Buy 1,843 2,270 123,677 64,470 75,940 3.5 3.5 224.4 258.7 8.2 7.1 1.4 1.2 17.6 17.8 - -
Syndicate Bank Buy 93 119 5,568 6,840 7,996 2.9 3.0 25.7 29.2 3.6 3.2 0.6 0.5 17.9 17.8 - -
UCO Bank Neutral 64 - 4,244 5,488 6,338 2.4 2.5 17.3 17.7 3.7 3.6 0.7 0.6 17.0 15.3 - -
Union Bank Buy 154 230 8,451 10,299 12,227 2.9 3.0 42.1 49.3 3.7 3.1 0.7 0.5 16.7 17.1 - -
United Bank Buy 51 79 1,854 3,634 4,194 2.8 2.9 18.2 23.0 2.8 2.2 0.4 0.4 15.0 16.7 - -
Vijaya Bank Neutral 48 - 2,386 2,579 3,028 2.1 2.3 8.8 11.6 5.5 4.2 0.6 0.6 11.1 13.3 - -
Yes Bank Buy 336 453 11,908 3,255 4,228 2.8 3.0 34.2 42.7 9.8 7.9 2.1 1.7 23.3 23.8 - -
FMCG
Asian Paints Neutral 3,727 - 35,753 11,198 13,184 16.3 16.3 121.0 144.8 30.8 25.8 10.3 8.1 37.4 35.3 3.1 2.6Britannia Buy 487 584 5,821 5,835 6,824 5.7 6.0 20.7 25.4 23.6 19.2 9.3 7.1 43.1 41.9 0.9 0.8
Colgate Neutral 1,171 - 15,927 3,018 3,429 20.9 22.3 34.6 41.0 33.8 28.6 31.2 23.7 99.5 94.1 5.1 4.5
Dabur India Neutral 121 - 21,157 6,124 7,030 17.0 16.8 4.5 5.2 27.2 23.5 11.2 8.9 43.2 41.5 3.5 3.0
GlaxoSmith Con* Neutral 2,893 - 12,168 3,124 3,663 17.1 17.6 104.5 123.8 27.7 23.4 8.6 6.9 34.4 32.8 3.5 3.0
Godrej Consumer Neutral 665 - 22,647 6,097 7,233 18.4 18.6 21.9 26.5 30.4 25.2 6.7 5.6 25.5 25.4 3.9 3.2
HUL Neutral 523 - 113,131 25,350 28,974 13.9 13.9 14.3 16.5 36.7 31.8 21.9 16.8 70.9 59.8 4.3 3.7
ITC Neutral 268 - 210,275 29,513 33,885 35.4 35.8 9.3 10.8 28.9 24.9 9.6 8.0 35.6 35.0 6.8 5.9
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
11/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
FMCG
Marico Neutral 192 - 12,388 4,840 5,643 13.1 13.1 6.8 8.5 28.3 22.8 7.8 6.0 31.4 29.7 2.6 2.1
Nestle* Neutral 4,697 - 45,283 8,610 10,174 20.9 21.2 114.8 139.8 40.9 33.6 24.7 17.2 71.2 60.3 5.3 4.4
Tata Global Accumulate 128 136 7,909 7,207 7,927 9.7 10.0 6.6 7.9 19.3 16.3 2.0 1.9 8.6 9.5 1.0 0.9
IT
HCL Tech Neutral 558 - 38,680 24,400 27,049 18.6 17.5 41.1 45.0 13.6 12.4 3.1 2.6 22.7 21.1 1.5 1.3
Hexaware Accumulate 122 133 3,612 1,947 2,161 22.0 21.4 11.4 12.1 10.7 10.0 2.8 2.4 26.4 24.0 1.6 1.3
Infosys Neutral 2,423 - 139,159 39,151 41,743 31.6 31.9 161.9 174.5 15.0 13.9 3.6 3.1 23.8 22.1 3.0 2.7Infotech Enterprises Neutral 178 - 1,988 1,889 2,065 18.0 17.5 18.0 19.7 9.9 9.1 1.4 1.3 14.5 13.7 0.7 0.6
KPIT Cummins Neutral 125 - 2,230 2,149 2,331 15.6 14.8 10.7 11.2 11.7 11.1 2.4 2.0 20.6 17.8 1.0 0.9
Mahindra Satyam Neutral 96 - 11,315 7,574 8,062 19.6 18.4 9.5 9.7 10.2 10.0 1.6 1.4 16.1 14.1 1.1 0.9
Mindtree Accumulate 653 708 2,665 2,341 2,513 18.6 17.1 66.5 70.8 9.8 9.2 2.2 1.8 22.3 19.3 1.0 0.8
Mphasis Accumulate 368 390 7,723 5,704 6,009 18.6 17.7 36.0 37.1 10.2 9.9 1.4 1.3 14.0 12.6 0.9 0.7
NIIT Buy 32 40 525 1,162 1,304 14.8 15.1 7.1 8.8 4.5 3.6 0.8 0.7 16.7 18.4 0.3 0.2
Persistent Accumulate 378 398 1,512 1,193 1,278 25.6 24.3 42.6 44.3 8.9 8.5 1.5 1.3 17.2 15.5 0.9 0.8
TCS Neutral 1,349 - 263,970 61,046 67,507 29.3 29.1 67.3 72.4 20.0 18.6 6.4 5.3 31.9 28.3 4.1 3.7
Tech Mahindra Neutral 842 - 10,747 6,148 6,434 18.4 17.6 91.8 97.6 9.2 8.6 2.2 1.7 23.4 20.2 1.7 1.6
Wipro Buy 364 420 89,501 43,492 48,332 19.4 19.3 25.1 28.0 14.5 13.0 2.7 2.3 18.6 18.0 1.7 1.4
Media
D B Corp Buy 184 236 3,380 1,597 1,785 22.9 24.2 11.1 13.9 16.6 13.2 3.2 2.7 20.2 22.1 2.0 1.8
HT Media Buy 93 113 2,190 2,111 2,263 15.2 15.2 7.3 8.1 12.7 11.5 1.4 1.2 11.2 11.2 0.6 0.4
Jagran Prakashan Buy 92 112 2,908 1,506 1,687 22.5 23.2 6.2 7.0 14.8 13.1 3.6 3.2 25.0 25.7 2.1 1.9
PVR Neutral 182 - 473 625 732 17.4 17.1 13.3 15.6 13.7 11.7 1.5 1.3 13.2 13.8 1.2 1.0
Sun TV Network Neutral 287 - 11,312 1,981 2,239 77.0 76.7 18.6 21.3 15.5 13.5 3.9 3.4 27.1 27.5 5.2 4.4Metals & Mining
Bhushan Steel Neutral 463 - 9,830 11,979 14,584 31.6 31.0 49.2 61.4 9.4 7.5 1.2 1.1 14.1 15.2 2.8 2.3
Coal India Accumulate 359 385 226,915 69,808 75,550 27.4 27.4 26.0 28.3 13.8 12.7 4.0 3.2 32.5 28.1 2.3 2.0
Electrosteel Castings Buy 19 23 649 1,984 2,074 11.2 12.6 2.5 2.9 7.6 6.5 0.4 0.1 5.1 5.7 0.5 0.5
Hind. Zinc Buy 124 144 52,521 12,446 13,538 52.3 52.9 14.3 15.5 8.7 8.0 1.7 1.4 20.5 18.9 2.4 1.8
Hindalco Neutral 107 - 20,419 84,855 92,446 8.7 9.3 13.2 16.2 8.1 6.6 0.6 0.6 7.8 8.9 0.6 0.6
JSW Steel Neutral 710 - 15,836 38,740 41,459 17.3 17.0 79.9 89.4 8.9 7.9 0.9 0.8 10.4 10.6 0.8 0.8
MOIL Accumulate 241 271 4,040 918 993 50.7 50.9 24.5 26.1 9.8 9.2 1.5 1.4 16.0 15.5 2.1 1.8
Monnet Ispat Buy 290 379 1,863 2,511 3,303 23.8 26.0 46.3 57.3 6.3 5.1 0.7 0.6 12.4 13.7 1.7 1.2
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
12/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
Metals & Mining
Nalco Reduce 51 48 13,118 7,401 7,841 16.7 19.2 3.4 4.1 14.9 12.4 1.1 1.0 7.4 8.4 1.3 1.2
NMDC Accumulate 193 214 76,678 12,934 14,266 79.4 80.1 21.1 23.4 9.2 8.3 2.4 2.0 29.6 26.5 4.1 3.4
SAIL Neutral 83 - 34,180 47,252 60,351 14.2 14.8 9.6 11.7 8.7 7.1 0.8 0.7 9.4 10.6 1.2 1.0
Sesa Goa Accumulate 182 192 15,844 7,704 8,034 33.6 34.6 42.0 43.1 4.3 4.2 0.9 0.8 22.3 19.2 0.3 (0.1)
Sterlite Inds Accumulate 105 115 35,118 41,680 45,382 24.2 23.2 16.3 16.9 6.4 6.2 0.7 0.6 11.3 10.7 0.5 0.4
Tata Steel Buy 378 481 36,751 145,799 150,431 10.3 11.2 48.6 63.3 7.8 6.0 0.8 0.7 10.5 12.4 0.5 0.5
Sarda Buy 121 148 434 1,251 1,321 22.7 23.4 33.0 37.1 3.7 3.3 0.5 0.5 15.1 14.8 0.7 0.6Prakash Industries Buy 54 73 726 2,694 2,906 14.6 16.6 17.9 22.6 3.0 2.4 0.3 0.3 11.4 12.8 0.5 0.4
Godawari Power andIspat
Buy 114 161 363 2,341 2,425 15.6 17.3 33.8 43.8 3.4 2.6 0.4 0.3 13.2 14.4 0.5 0.5
Oil & Gas
Cairn India Accumulate 341 380 65,015 16,605 17,258 75.4 71.7 57.0 54.9 6.0 6.2 1.1 0.9 20.2 16.3 2.9 2.3
GAIL Neutral 366 - 46,414 50,176 55,815 15.5 15.8 35.4 36.5 10.3 10.0 1.8 1.6 18.9 17.0 0.1 -
ONGC Accumulate 282 312 241,350 147,139 154,821 33.9 33.7 30.7 32.3 9.2 8.7 1.6 1.4 18.3 17.2 1.4 1.3
Reliance Industries Neutral 790 - 258,706 362,700 380,031 7.9 8.0 61.5 64.3 12.9 12.3 1.3 1.2 10.3 9.9 0.7 0.7
Gujarat Gas Neutral 294 - 3,767 2,472 3,267 16.1 11.5 21.2 19.2 13.8 15.3 4.8 4.1 33.4 28.7 1.4 1.0
Indraprastha Gas Neutral 252 - 3,534 3,040 3,135 24.3 26.7 24.8 27.9 10.2 9.1 2.4 2.0 25.5 23.6 1.2 1.0
Petronet LNG Accumulate 153 176 11,486 22,696 29,145 8.1 6.6 14.1 14.2 10.9 10.8 3.3 2.6 34.1 26.9 0.6 0.4
Gujarat State PetronetLtd.
Neutral 80 - 4,524 1,041 939 91.8 91.9 8.5 7.4 9.5 10.9 1.6 1.5 18.1 14.0 5.2 5.8
Pharmaceuticals
Alembic Pharma Buy 68 91 1,285 1,624 1,855 14.2 15.6 6.6 9.1 10.3 7.5 2.5 2.0 27.9 29.2 0.9 0.8
Aurobindo Pharma Buy 111 156 3,242 5,243 5,767 14.6 14.6 11.8 12.6 9.4 8.8 1.0 0.4 17.9 16.4 1.1 1.0
Aventis* Neutral 2,153 - 4,958 1,482 1,682 15.5 15.5 95.0 104.0 22.7 20.7 4.0 3.1 18.6 17.0 3.1 2.7Cadila Healthcare Accumulate 881 953 18,047 6,148 7,386 18.6 19.6 36.0 46.1 24.5 19.1 5.8 4.6 25.8 26.8 3.1 2.6
Cipla Accumulate 367 399 29,451 8,031 9,130 23.4 22.4 18.4 20.0 19.9 18.3 3.3 2.9 17.8 16.6 3.4 2.9
Dr Reddy's Neutral 1,698 - 28,814 10,696 11,662 20.7 21.0 83.7 92.9 20.3 18.3 4.2 3.5 22.4 21.0 3.0 2.6
Dishman Pharma Reduce 98 92 790 1,280 1,536 17.8 17.8 9.2 11.3 10.6 8.7 0.8 0.7 7.7 8.5 1.3 1.1
GSK Pharma* Neutral 2,081 - 17,626 2,651 2,993 31.7 31.2 76.0 82.4 27.4 25.3 7.9 7.1 20.1 26.3 5.8 5.1
Indoco Remedies Buy 66 92 605 685 837 15.2 15.2 7.4 8.9 8.9 7.4 1.4 1.2 16.4 17.0 1.1 0.9
Ipca labs Buy 406 475 5,124 2,850 3,474 20.7 20.7 29.2 36.6 13.9 11.1 3.3 2.6 26.1 26.1 1.9 1.6
Lupin Accumulate 571 647 25,507 8,426 10,082 19.7 20.0 27.4 32.4 20.8 17.6 5.1 4.1 26.0 24.7 3.1 2.5
Orchid Chemicals Buy 113 140 795 2,117 2,434 17.7 17.7 16.7 22.2 6.8 5.1 0.6 0.6 9.5 11.5 1.0 0.8
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
13/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
Pharmaceuticals
Ranbaxy* Neutral 550 - 23,222 12,046 11,980 18.0 15.8 35.7 29.8 15.4 18.5 6.0 4.8 39.1 28.9 2.0 1.9
Sun Pharma Neutral 681 - 70,430 9,752 12,134 41.6 41.6 26.0 28.2 26.2 24.2 4.9 4.2 20.3 18.8 6.5 5.0
Power
CESC Accumulate 309 342 3,864 5,218 5,644 24.2 23.8 44.6 47.6 6.9 6.5 0.7 0.7 11.0 10.6 1.0 1.1
GIPCL Accumulate 68 77 1,031 1,557 1,573 29.3 28.7 10.8 11.0 6.3 6.2 0.7 0.6 10.8 10.2 1.1 1.0
NTPC Neutral 172 - 141,740 74,111 85,789 23.2 23.6 12.4 14.0 13.9 12.2 1.7 1.6 13.0 13.5 2.6 2.4
Real EstateAnant Raj Buy 46 78 1,369 657 875 52.0 56.1 8.4 12.7 5.5 3.7 0.3 0.3 6.3 8.9 3.4 2.5
DLF Neutral 201 - 34,089 9,878 12,033 44.7 46.1 9.6 13.4 21.0 15.0 1.3 1.3 6.4 8.7 5.9 4.9
HDIL Buy 73 115 3,055 2,441 3,344 55.1 48.2 22.7 26.6 3.2 2.7 0.3 0.3 8.8 9.4 3.1 2.3
MLIFE Accumulate 346 396 1,415 813 901 26.2 26.6 32.0 37.1 10.8 9.4 1.1 1.0 10.4 11.0 2.1 1.8
Telecom
Bharti Airtel Neutral 249 - 94,540 79,542 87,535 30.9 32.2 10.3 15.0 24.2 16.6 1.8 1.6 7.2 9.6 1.9 1.6
Idea Cellular Neutral 74 - 24,592 22,988 25,333 26.4 26.9 3.5 4.9 21.4 15.2 1.7 1.6 8.1 10.2 1.5 1.3
Rcom Neutral 51 - 10,527 21,553 22,494 31.0 30.7 3.5 4.5 14.7 11.5 0.3 0.3 1.9 2.4 2.0 1.8
zOthers
Abbott India Neutral 1,585 - 3,369 1,602 1,833 10.4 11.8 54.7 71.7 29.0 22.1 5.5 4.7 20.0 22.7 1.9 1.6
Bajaj Electricals Buy 174 234 1,729 3,569 4,172 8.1 8.8 16.3 21.3 10.7 8.1 2.2 1.9 21.7 24.6 0.5 0.4
Cera Sanitaryware Buy 305 352 386 396 470 16.7 16.5 28.0 33.2 10.9 9.2 2.3 1.8 23.8 23.1 1.1 0.9
Cravatex Buy 436 785 113 302 364 5.7 6.0 49.0 71.0 8.9 6.1 2.6 1.9 29.8 30.7 0.5 0.4
CRISIL Neutral 910 - 6,388 982 1,136 34.3 34.3 34.3 40.0 26.5 22.8 12.0 9.6 50.9 46.9 6.1 5.1
Finolex Cables Buy 37 61 566 2,334 2,687 8.8 9.3 7.6 10.2 4.8 3.6 0.6 0.5 13.7 16.1 0.2 0.1
Force Motors Buy 429 591 559 2,214 2,765 4.5 5.4 39.5 73.9 10.9 5.8 0.5 0.4 4.4 7.6 0.1 0.1Goodyear India Accumulate 335 370 773 1,543 1,646 8.1 9.2 32.3 39.4 10.4 8.5 2.1 1.8 21.7 22.4 0.3 0.2
Graphite India Buy 80 113 1,564 2,158 2,406 18.1 18.9 12.4 14.0 6.5 5.7 0.9 0.8 14.0 14.3 0.9 0.7
Greenply Industries Buy 187 309 452 1,925 2,235 10.6 10.9 29.6 44.1 6.3 4.3 1.0 0.8 16.8 21.0 0.5 0.4
HEG Accumulate 203 229 813 1,586 1,685 17.9 18.1 16.1 25.7 12.7 7.9 0.9 0.9 7.5 11.6 1.2 1.1
Hitachi Accumulate 113 130 260 868 977 3.9 6.6 2.7 10.9 41.3 10.4 1.5 1.3 3.7 13.6 0.4 0.3
Honeywell Automation Buy 2,459 2,842 2,173 1,847 2,162 4.3 7.3 61.0 120.0 40.3 20.5 3.2 2.8 9.3 16.3 1.1 0.9
INEOS ABS India Accumulate 651 744 1,145 1,056 1,081 8.1 10.6 33.8 46.5 19.2 14.0 2.7 2.3 14.7 17.5 1.0 0.9
ITD Cementation Neutral 230 - 265 1,451 1,669 12.3 12.4 32.4 41.5 7.1 5.5 0.6 0.6 9.4 10.9 0.6 0.6
Jyothy Laboratories Neutral 149 - 2,410 1,248 1,468 9.8 10.4 5.9 7.2 25.2 20.9 3.6 3.3 15.0 16.6 2.3 1.9
MCX Buy 1,096 1,440 5,591 553 624 65.3 66.3 62.5 72.0 17.6 15.2 4.8 4.2 27.5 27.4 7.1 5.8
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
14/15
Company Name Reco CMP Target Mkt Cap Sales ( cr ) OPM(%) EPS () PER(x) P/BV(x) RoE(%) EV/Sales(x)
( ) Price ( ) ( cr ) FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E FY13E FY14E
zOthers
MRF Buy 10,398 12,884 4,410 11,804 12,727 10.4 10.5 1,289.9 1,431.3 8.1 7.3 1.6 1.3 21.3 19.4 0.5 0.5
Page Industries Neutral 3,067 - 3,421 887 1,108 18.3 18.6 95.0 120.9 32.3 25.4 16.9 13.7 57.4 59.5 3.9 3.1
Relaxo Footwears Buy 556 684 668 1,019 1,208 12.3 13.0 51.0 68.4 10.9 8.1 2.9 2.1 30.3 30.2 0.8 0.7
Sintex Industries Buy 56 79 1,518 4,751 5,189 16.3 16.6 13.6 15.8 4.1 3.5 0.5 0.5 12.9 13.2 0.7 0.6
Siyaram Silk Mills Buy 302 392 283 1,042 1,173 12.4 12.5 66.3 78.5 4.6 3.9 0.9 0.7 21.1 20.8 0.5 0.5
S. Kumars Nationwide Buy 19 38 570 7,279 8,290 20.5 20.5 13.4 16.3 1.4 1.2 0.2 0.1 12.3 13.1 0.7 0.6
SpiceJet Buy 32 43 1,548 5,720 6,599 5.3 6.8 3.6 5.4 8.9 6.0 12.8 4.1 - - 0.4 0.3TAJ GVK Buy 62 108 389 300 319 35.8 36.2 7.9 9.1 7.9 6.8 1.0 0.9 13.9 14.4 1.6 1.4
Tata Sponge Iron Buy 300 424 462 787 837 16.2 17.5 58.5 66.9 5.1 4.5 0.7 0.6 14.9 15.1 0.2 0.1
TVS Srichakra Neutral 321 - 246 1,476 1,643 7.1 8.2 24.7 42.8 13.0 7.5 1.6 1.3 16.6 24.8 0.4 0.3
United Spirits Neutral 928 - 12,138 10,289 11,421 13.5 14.3 31.0 42.9 29.9 21.6 2.3 2.1 8.1 10.3 1.9 1.7
Vesuvius India Neutral 350 - 710 560 611 16.1 17.0 24.7 28.8 14.2 12.2 2.1 1.9 15.8 16.2 1.2 1.0
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on August 28, 2012
www.angelbroking.com
August 29, 2012
Market Outlook
Stock Watch
-
7/31/2019 Market Outlook 290812
15/15
August 29, 2012Market Outlook