AK Agarwal & CO

Buy tata steel for tgt 4000 to 5000 for 2years

*Sharekhan Stock Idea- 3R Recommendation*
*Dabur India Ltd*

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*Strong market share gains pave growth path*
*Rating: Buy*
(CMP: 556, Price Target: 725)
*Company Description*
Dabur is one of India’s leading FMCG companies with revenue of close to Rs. 10,000 crore. The company operates in key consumer product categories such as hair care, oral care, healthcare, and skin care based on Ayurveda. Dabur India’s FMCG portfolio today includes eight distinct Power Brands: Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara and Dabur Lal Tail in the Healthcare space; DaburAmla and Dabur Red Paste in the Personal care category; and Real in the Foods & Beverages category.
*Key Investment Arguments*
• Dabur India reported y-o-y revenue growth of 7.8% and muted volume growth of 2% in Q3FY2022 on high base of 16% growth in Q3FY2021; despite raw material inflation, OPM remained at 21%; while reported PAT stood at Rs. 505 crore.
• Dabur gained market share across 100% product portfolio; rural growth exceeded urban growth by 500 bps; food & beverages business reported robust growth of 38% backed by the Hommade brand.
• Sustained market share gains, distribution expansion (especially in rural market), investments behind power brands and new launches would help company maintain double-digit revenue growth; OPM to sustain in FY2022.
• The stock trades at 42.8x/35.6x its FY023/24E EPS. We maintain a Buy on the stock with an unchanged PT of Rs. 725.

🇮🇳 *India Daybook – Stocks in News*

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*Lux Ind:* Net profit up 34.2% at Rs 101.3 cr vs Rs 75.5 cr, Revenue up 23.6% at Rs 664 cr vs Rs 537 cr (YoY) (Positive)

*Sumitomo Chem:* Revenue up 26.1% at Rs 707.2 cr vs Rs 560.9 cr, Net profit up 64.3% at Rs 88.9 cr vs Rs 54.1 cr (YoY) (Positive)

*GMM Pfaudler:* Net profit up 37.1% at Rs 31.8 cr vs Rs 23.2 cr, Revenue at Rs 642.3 cr vs Rs 201.8 cr (YoY). (Positive)

*Brigade Ent:* Net profit at Rs 46.4 cr vs loss of Rs 21.5 cr, Revenue up 42.9% at Rs 921 cr vs Rs 644.6 cr YoY (Positive)

*M&M Financial:* Disbursements up 31% YoY at Rs 2,320 cr, Collection efficiency at 96% in January. (Positive)

*OnMobile:* The company partnered with Dialog to launch the first mobile cloud gaming platform in Sri Lanka. (Positive)

*Dishman Carborundum:* Net profit at Rs 35.4 cr vs loss of Rs 16.1 cr, Revenue up 20% at Rs 562.1 cr vs Rs 468.6 cr (YoY) (Positive)

*Godrej Prop:* Both companies will invest Rs 300 cr towards an equity platform for redevelopment opportunities in Mumbai. (Positive)

*Mahindra Life:* Company launches new project in Kalyan (Positive)

*Ambika Cotton Mills:* Vijay Kedia acquired 40,007 equity shares in the company at Rs 2,243.12 per share (Positive)

*ITC:* Net profit at Rs 4156.0 cr vs poll of Rs 3638.0 cr, Volume growth at 12-13% vs Poll Of 7-8% (Positive)

*India Pesticides:* Net profit at Rs 43.17 crore against Rs 42.08 crore, revenue jumped to Rs 190.03 crore from Rs 178.47 crore QoQ. (Positive)

*EIH:* Net profit at Rs 40.8 crore against loss of Rs 55.78 crore, revenue jumped to Rs 365.38 crore from Rs 179.16 crore YoY. (Positive)

*PFizer:* Revenue up 13.9% at Rs 675.9 cr vs Rs 593.5 cr, Net profit up 1.9% at Rs 143.9 cr vs Rs 141.2 cr (YoY) (Neutral)

*Prince Pipes:* Net profit up 0.7% at Rs 67.3 cr vs Rs 66.8 cr, Revenue up 20.9% at Rs 664 cr vs Rs 549 cr (YoY). (Neutral)

*PI Industries:* Net profit up 13.9% at Rs 222.6 cr vs Rs 195.4 cr, Revenue up 16.7% at Rs 1,356.3 cr vs Rs 1,162.1 cr (YoY) (Neutral)

*SIS:* Net profit up1.6% at Rs 100.6 cr vs Rs 99 cr, Revenue up 10.3% at Rs 2,600.8 cr vs Rs 2,357.5 cr (YoY) (Neutral)

*Torrent Power:* Net profit up 14.9% at Rs 368.1 cr vs Rs 320.5 cr, Revenue up 27.6% at Rs 3,767.4 cr vs Rs 2,952.8 cr (YoY) (Neutral)

*Suryoday:* Net profit at Rs 4.72 crore against Rs 1.04 crore, revenue rose to Rs 273.21 crore from Rs 234.46 crore YoY (Neutral)

*Adani Power:* Revenue down 22.2% at Rs 5,360.9 cr vs Rs 6,894.8 cr, Revenue down 22.2% at Rs 5,360.9 cr vs Rs 6,894.8 cr (YoY). (Neutral)

*Panacea Biotec:* Serum Institute of India sold 3.58 lakh equity shares in the company at Rs 278.15 per share. (Negative)

*Automobiles*
*CV sales continues to surge, while PV production improves*
*Sector: Automobile*
*View: Positive*
*Summary*
• We remain positive on automobile demand, led by pent-up demand from rural, semi-urban, and urban demand along with a favourable macro-outlook.
• CV wholesales continue to grow strongly in January 2022, led by strong growth in high tonnage truck sales. Buses and 3W sales continue to improve sequentially
• Easing of chips shortage situation helping sequential growth in PV and premium 2W sales. EVs continue to gain traction. Rural sales continued to remain to post subdued growth in January 2022, impacting tractor and 2W sales.
• *Preferred Picks* – *OEMs:* Bajaj Auto, Hero MotoCorp, Tata Motors, M&M, and Escorts. *Auto Ancillaries:* Bosch, Sundram Fasteners, Suprajit Engineering, Ramkrishna Forgings, Gabriel India, and Balkrishna Industries.
*Key risks* The fear of new variants (Omicorn) and the third wave of COVID remains a potential concern. Also, if the chips shortage situation aggravates, our volume estimates would get impacted adversely

*Sharekhan Viewpoint-3R Recommendation*
*DLF Ltd*
*Rating:Positive*
(CMP:400 , Short term target: 500, Upside: 25%)
*Robust Q3; Sales bookings momentum to continue*
*Company Description*
DLF is India’s leading real estate developer and has more than seven decades of track record. DLF has developed 153 real estate projects and developed an area of approximately 330 million square feet. DLF Group has 215 msf (approx.) of development potential across residential and commercial segment. The group has an annuity portfolio of over 35 msf (approx.). DLF is primarily engaged in the business of development and sale of residential properties (the “Development Business”) and the development and leasing of commercial and retail properties (the “Annuity Business”).
*Key Investment Arguments*
• . DLF reported over 97% y-o-y rise in sales booking to Rs. 2018 crore, 37% reduction in net debt to Rs. 3220 crore and consecutive quarters of surplus cash generation of over Rs. 750 crore for Q3FY2022.
• The company ups sales booking guidance to Rs. 6000-6500 crore from Rs. 4000 crore earlier. It revises potential residential sales potential of 35msf to Rs. 47,000 crore, up 17% led by upward revision in selling prices.
• It expects strong cash surplus generation to continue to lead to net debt reduction going ahead. Rental REIT readiness continues to be on track.
• We stay positive view on DLF with an upside potential of 23-25% given strong growth potential in residential and rental portfolio.

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Freind pradam
Buy TATA STEEL 1240
IT IS MULTI BAGAR AND CAN GO UP TO 3000 IN a or two years