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Analyst Calls: Minda Industries, Colgate, Gail, IPCA Lab

Geojit Finance Services has upgraded Minda Industries to ‘Accumulate’ with a target price of Rs 388.

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Last Updated: Nov 28, 2019, 07.30 AM IST|Original: Nov 28, 2019, 07.30 AM IST
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Reliance Securities has maintained its Buy rating on Gail with a target price of Rs 154.
Good morning!

The domestic stock market on Thursday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 21 points lower this morning, signalling a weak start for Dalal Street.

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

• Geojit Finance Services has upgraded Minda Industries to ‘Accumulate’ with a target price of Rs 388. The brokerage said product diversification of Minda along with increasing growth from new products gives better visibility to the company on revenue front. Further, implementation of BSVI norms and enhanced safety features will lead to increase in Kit value per vehicle across auto segment helping the company. Shares of Minda Industries closed at Rs 348, down 0.7 per cent.

• Kotak Securities has maintained its Buy rating on KNR Constructions with a target price of Rs 305. The brokerage said KNR continues to focus selectively on bidding for projects in the southern region where it has competitive edge due to availability of own source of raw material and better geographical understanding. The company is expected to have strong cash flows and a deal with Cube Highways along with monetization of build operate transfer assets will help the company in meeting upfront equity commitments. Shares of KNR Constructions closed at Rs 232, down 1.6 per cent.


• Motilal Oswal Securities has maintained its Buy rating on Colgate with a target price of Rs 1,815. The brokerage said revival in both premium and mass segments augurs well for Colgate. The premium segment of the market was hurt amidst sharp growth in the salience of the natural segment, but things have improved in the past few months. Shares of Colgate closed at Rs 1,477, down 1.2 per cent.

• Emkay Securities has maintained its Buy rating on IPCA Lab with a target price of Rs 1,200. Despite the difficult situations, IPCA has navigated challenges by focusing on cost reduction, the brokerage said. The Strong momentum in the non-US businesses and the underlying operating leverage also augurs well for the company. If the clearances for the company’s US plants fall through, it will add further value to the stock. Shares of IPCA closed at Rs 1,120, up 0.2 per cent.

• Reliance Securities has maintained its Buy rating on Gail with a target price of Rs 154. Gail posted an improved volume performance in quarter ending September as natural gas transmission volume increased by 3 per cent year on year. The results were also helped by 7 per cent year on year improvement in gas consumption led by higher demand. Petrochemical facility utilisation touched a new high of 112 per cent in September, the brokerage added. Shares of Gail closed at Rs 124.4, down 0.4 per cent.

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Emkay Securities maintains buy on IPCA Lab, target price Rs 1,200

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