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Analyst Calls: EIL, Cadila, L&T Finance, Bharti Airtel

Kotak Securities has maintained its buy call on Engineers India with a target price of Rs 130.

ET Bureau|
Nov 29, 2019, 07.26 AM IST
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Morgan Stanley has maintained Equal weight stance on Bharti Airtel with a target price of Rs 410.
Good morning!

The domestic stock market on Friday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 7.50 points lower this morning, signalling a tepid start for Dalal Street.

As you head for the day’s trade, here is a compilation of overnight analyst calls on various stocks.

• Kotak Securities has maintained its buy call on Engineers India with a target price of Rs 130. The brokerage said plethora of initiatives and policy reforms undertaken by the central government such as Make In India and SMART City provide huge investment potential in India for the company. Further, Engineers India is optimistic that the planned capital expenditure of all the oil and gas majors in the hydrocarbon sector in the coming years would offer a number of opportunities across the value chain especially in the midstream and downstream segment. The stock closed at Rs 103, down 1.5 per cent on Thursday.

• Geojit has maintained its hold rating on Cadila Healthcare with a target price of Rs 270. During the quarter ending September, gross margin expanded 167 basis point on account of growth in Indian and US business. The brokerage said margin expansion remains contingent on recovery in domestic generic business and new US launches. The stock closed Rs 259, up 1.6 per cent on Thursday.


• Motilal Oswal has maintained its buy rating on L&T Finance with a target price of Rs 130. The brokerage said, L&T Finance in the past one year has been able to raise adequate debt capital at competitive prices. Also, the company has balanced liquidity, growth and profitability over the past year despite a tough environment. The asset management business is also on a track of improving profitability. The stock closed Rs 115 apiece, up 7 per cent on Thursday.

• IDBI Capital has maintained its Buy rating on VIP Industries with a target price of Rs 574. The brokerage said VIP is a proxy play on rising spends towards travel and tourism in India and is also a leader in an industry dominated by unbranded players. Further, VIP has set up manufacturing units in Bangladesh, given wage inflation in China. The stock closed at Rs 435, down 0.3 per cent on Thursday.

• Morgan Stanley has maintained Equal weight stance on Bharti Airtel with a target price of Rs 410. The brokerage said telecom market appears to be expecting a 15-20 per cent spike in tariffs. If the hike happens to be higher and the transmission to ARPU follows through, then that would be a positive surprise, Morgan Stanley said. The bull case assumption is a 31 per cent tariff hike. The stock closed at Rs 439, up 1.5 per cent on Thursday.

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