Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Biocon Biocon reported strong numbers and results were in line with estimates. The Biologics segment drove the strong show, while generics and research services also staged a double digit growth. Biocon has laid a strong platform for growth of biosimilars in insulin and oncology franchise across its key markets. Strong growth outlook for biosimilars, expected improvement in generics segment and a healthy growth in the research services segment would be key growth drivers for Biocon. Possible listing of Biocon Biologics would provide value unlocking opportunity for the investors. Outlook We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs 420. For all recommendations report, click here Close … [Read more...] about Buy Biocon: target of Rs 420: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Wipro For Q4FY22, Wipro’s OPM lagged our expectations, while revenue was in line with estimates. Net employee additions, client mining, logo additions and deal ACVs stayed strong, but attrition continued to inch up. The management guided for revenue growth of 1-3% q-o-q for Q1FY2023, below expectations of 2-4%. Record-high deal pipeline and strong net hiring indicate the strong underlying demand going ahead. Supply-side challenges, wage revision, rising discretionary expenses, and investments in frontline sales to weigh on its margins over next 2-3 quarters. Management guided EBIT margin to remain at 17-17.5% for FY2023. Outlook We maintain a Hold on Wipro with a revised PT of Rs. 580, given robust ACVs, strong client mining and improved service … [Read more...] about Hold Wipro: target of Rs 580: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Maruti Suzuki India For Q4FY2022, Maruti Suzuki India Limited’s (MSIL) operational performance exceeded expectations, driven by operating leverage benefits, lower sales promotion, and price hikes. MSIL is likely to benefit from rural and semi-urban demand, led by the marriage season and improved cash flows in the hands of consumers due to harvesting of Rabi crop. Earnings are expected to post a 61.6% CAGR during FY2022-FY2024E, driven by a 19.7% revenue CAGR and 440-bps improvement in EBITDA margin. Outlook We retain our Buy rating on the stock with an unchanged PT of Rs. 9,820, led by buoyant demand and comfortable valuations. For all recommendations report, click here Close Disclaimer: The views and investment tips … [Read more...] about Buy Maruti Suzuki India: target of Rs 9820: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on UltraTech Cement In Q4FY2022, UltraTech reported broadly in-line performance as marginally lower-than-expected volumes were offset by higher realisation. Consolidated net debt reduced sequentially by ~Rs. 2,400 crore. Management expects healthy demand environment to sustain, led by infrastructure, rural housing, and urban housing. Price hikes undertaken during April cover increased key input costs. White cement expansion plans have been put to rest with RAKWCT’s acquisition. Balance grey cement capacity expansion of 16.3 mtpa remains on track, while another round of expansion is to be announced by FY2023-end. Outlook We maintain Buy on UltraTech with a revised PT of Rs. 8,600, factoring downward revision in estimates. For all recommendations … [Read more...] about Buy UltraTech Cement: target of Rs 8600: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Hindustan Unilever In Q4FY22, HUL posted resilient numbers with revenues growing by 11% y-o-y (with sales volume standing flat) while OPM stood stable at 24% y-o-y despite a 300 bps decline in the gross margins Market share gains across categories and sustained double-digit growth in some of the premium categories helped HUL post higher sales volumes versus the industry (which saw a 7-8% fall in volume). Significant raw material inflation would keep margins stressed. However, calibrated price hikes and stringent cost savings across verticals will help OPM to sustain at 23-24% in the near term. Management is confident of rural demand recovery led by expectations of good monsoons and higher agri-incomes that would push demand. Outlook HUL’s stock … [Read more...] about Buy Hindustan Unilever: target of Rs 2456: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Schaeffler India SIL’s Q1CY2022 performance was led by higher-than-expected expansion in EBITDA margin, though revenue marginally missed expectations. Exports is a high-growth area for SIL, given the pedigree of its parent company. Greater localisation and focus on market share gains would aid revenue and EBITDA growth going forward. We expect its earnings to report a 33.4% CAGR during CY2021-CY2023E. The stock trades at a P/E of 31.3x and EV/EBITDA of 19.8x its CY2023E estimates. Outlook We retain our Buy recommendation on Schaeffler India Limited (SIL) with a revised PT of Rs. 2,650, led by a strong outlook for its automotive and industrial businesses and continuous improvement in margin profile. Close For all recommendations … [Read more...] about Buy Schaeffler India: target of Rs 2650: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on HDFC Life Insurance Company HDFC Life reported PAT of Rs. 358 crore, in line with our expectation. PAT grew by ~12% y-o-y and ~31% q-o-q. The company registered ~8% y-o-y growth in net premium income, led by strong growth in renewal premium and single premium, thereby reflecting steady trend in persistency. Renewal premiums constituted ~51% of net premium. Management sounded confident about growth prospects and margin outlook for FY2023 after registering strong performance in FY2022 amid a challenging environment. The acquisition and integration process is well on track; management expects the merger to be margin neutral in FY2023 and margin accretive from FY2024. Outlook HDFC Life trades at 2.9x/2.4x its FY2023E/FY2024E EVPS. We maintain Buy … [Read more...] about Buy HDFC Life Insurance Company: target of Rs 740: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Mahindra Logistics MLL reported an in-line operational performance for Q4FY2022 with consolidated revenues rising by 10% y-o-y with an improvement in OPM by 86bps q-o-q. The company expects H2FY2023 to show strong growth led by a revival in growth in auto and other end-user industries. The OPM is expected to inch up gradually. Over the longer term, rise in volumes, change in revenue mix, and lower impact of IND AS are expected to drive net earnings. Outlook We retain a Buy on the stock of Mahindra Logistics Limited (MLL) with a revised PT of Rs. 630, assigning a higher valuation multiple. Close For all recommendations report, click here Disclaimer: The views and investment tips expressed by investment experts/broking … [Read more...] about Buy Mahindra Logistics: target of Rs 630: Sharekhan

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Bajaj Finserv Bajaj Finserv (BFS) reported consolidated PAT of Rs. 1,346 crore, an increase of ~38% y-o-y, aided by strong revenue from operations. For FY2022, PAT grew by 2% y-o-y to Rs. 4,557 crore. Revenue grew strong by ~23% y-o-y in Q4FY2022. It was primarily aided by strong growth in lending business and robust … [Read more...] about Buy Bajaj Finserv: target of Rs 20264: Sharekhan

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Mahindra Lifespace Developers MLDL reported healthy performance in terms of residential sales, collections and IC&IC lease for Q4FY2022. Residential operating loss continued as per expectation. Net earnings boosted by one-off items. The company added Rs. 5500 crore GDV during FY2022 till date and expects GDV additions of Rs. 3800 crore achieved in FY2022 to sustain in FY2023. The company has strong project pipeline of 6.72msf. Looking at society redevelopment projects in Mumbai along with stressed assets acquisitions. Outlook We retain a Buy on stock with a revised price target of Rs. 450, factoring higher sales run-rate lead by strong project additions. Close For all recommendations report, click here … [Read more...] about Buy Mahindra Lifespace Developers: target of Rs 450: Sharekhan