Vishw Nivesh - Investments

KNR Construction
Recommendation : Buy
Current Market Price : Rs 295
Recommended Price : Rs 286
Price Target : Rs 350

Grasim Industries
Recommendation :Buy
Current Market Price : Rs 1489
Recommended Price : Rs 1498
Price Target : Rs 1780

BPCL
Recommendation : Buy
Current Market Price :Rs 463
Recommended Price : Rs 455
Price Target :Rs 520

Oil India
Recommendation :Buy
Current Market Price : Rs166
Recommended Price : Rs 166
Price Target : Rs 185

NMDC
Recommendation :Buy
Current Market Price : Rs 164
Recommended Price : Rs 172
Price Target : Rs 240

Indraprastha Gas
Recommendation :Buy
Current Market Price : Rs 535
Recommended Price : Rs 535
Price Target : Rs 650

Aurbindo Pharma Ltd
Recommendation :Buy
Current Market Price :Rs 736
Recommended Price : Rs 761
Price Target : Rs 915

Godrej Consumer Product Limited
Recommendation : Buy
Current Market Price : Rs 972
Price Target : Rs 1115

Arvind Ltd
Recommendation : Buy
Current Market Price : Rs102
Price Target : Rs 122

Cipla Limited
Recommendation :Buy
Current Market Rate : Rs 912
Price Target : Rs 1150

Hindustan Petroleum Corp.Ltd (HPCL)
Recommendation : Buy
Current Market Price : Rs 265
Price Target : Rs340

Gujrat Gas Ltd
Recommendation :Buy
Current Market Price : Rs 742
Price Target : Rs 890

GAIL
Recommendation :Buy
Current Market Price : Rs 149
Price Target : Rs 196

Blue Star Limited
Recommendation : Rs Buy
Current Market Price : Rs 852
Price Target : Rs 1200

Vishw Nivesh - Investments updated their business hours.

Kajaria Ceramic
Recommendation :Buy
Currrent Market Price : Rs 1032
Price Target : Rs 1202

Castrol India
Recommendation :Buy
Current Market Price : Rs 140
Price Target : Rs 172

Vinati Organics
Recommendation :Buy
Current Market Price : Rs 1951
Price Target : Rs 2350

Inox Leisure
Recommendation : Buy
Current Market Price : Rs 314
Price Target : Rs 400

Dabur India
Recommendation : Buy
Current Market price : Rs 589
Price Target : Rs 725

Carborundum Universal
Recommendation : Buy
Current Market Price : Rs 700
Price Target : Rs 854

NTPC Ltd
Recommendation :Buy
Current Market Price : Rs 117
Price Target : Rs 140

Britania Industires Ltd
Recommendation :Buy
Current Market Price : Rs 3563
Price Target : Rs 4200

P I Industries
Recommendation : Buy
Current Market Price : Rs 3307
Price Target : Rs 3900

V-Gaurd Industries Ltd
Recommendation : Buy
Current Market Price : Rs 247
Price Target : Rs 311

KEC Industries Ltd
Recommendation : Buy
Current Market Price : Rs 417
Price Target : Rs 505

KEI Industries Ltd
Recommendation : Buy
Current Market Price : Rs 739
Price Target : Rs 909

Ultra Tech Cement
Recommendation : Buy
Current Market Price : Rs 7498
Price Target : Rs 8800

Bajaj Auto Limited
Recommendation : Buy
Current Market Price : Rs 3840
Price Target : Rs 4800

Schaeffler India Ltd
Recommendation : Buy
Current Market Price : Rs 6585
Price Target : Rs 6909

Hindustan Uniliver (HUL)
Recommendation :Buy
Current Market Price : Rs 2359
Price Target : Rs 2790

Polycab India Ltd
Recommendation :Buy
Current Market Price : Rs 1890
Price Target : Rs 2375

Supreme Industries
Recommendation : Buy
Current Market Price : Rs 2099
Price Target : Rs 2553

Asian Paints
Recommendation : Buy
Current Market Price : Rs 3111
Price Target : Rs 3550

Jubliant Food work
Recommendation : Buy
Current Market Price : Rs 3425
Price Target : Rs 3620

Gland Pharma Ltd
Recommendation : Buy
Current Market Price : Rs 4087
Price Target : Rs 4400

Mastek
Recommendation : Buy
Current Market Price : Rs 2803
Price Target : Rs2950

HDFC Life
Recommendation :Buy
Current Market Price : Rs 663
Price Target : Rs 850

HCL Technologies
Recommendation :Buy
Current Market Price : Rs 977
Price Target : Rs 1200

L&T Finance Holding
Recommendation : Buy
Current Market Price : Rs 88
Price Target : Rs 118

Gati Limited
Recommendation : Buy
Current Market Price : Rs 167
Price Target : Rs 28-30% upside

L&T infotech
Recommendation : Buy
Current Market Price : Rs 4380
Price Target : Rs4800

HDFC Bank
Recommendation : Buy
Current Market Price : Rs 1471
Price Target : Rs 1810

Tata Elxsi
Recommendation :Buy
Current Market Price : Rs 4223
Price Target : Rs5000

Wipro
Recommendation :Buy
Current Market Rate : Rs 578
Price Target : Rs 670

S P Apparels
Recommendation : Buy
Current Market Price : Rs 305
Price Target : upside 28-30%

Maruti Suzuki Ltd
Recommendation : Buy
Current Market Price : Rs 7327
Price Target : Rs 8527

Expleo Solution Ltd
Recommendation :Buy
Current Market Price : Rs1258
Price Target : 28%up side

NMDC Ltd
Recommendation :Buy
Current Market Price : Rs172
Price Target : Rs 240

Mahindra Life space Developer Ltd
Recommendation : Buy
Current Market Price: Rs 684
Price Target : Rs 795

Hero Motor Corp.
Recommendation : Buy
Current Market Price : Rs 2904
Price Target : Rs 4030

Lumax Auto Technologies.
Recommendation : Buy
Current Market Price : Rs 158
Price Target : Rs207
Polycab India Ltd.
Recommendation : Buy
Current Market Price : Rs 1954
Price Target : Rs 2375
Tata Motors
Recommendation : Buy
Current Market Price :Rs317
Price Target : Rs 434
Dr Reddy,s
Recommendation : Buy
Current Market Price :Rs5562
Price target : Rs 6500

Centuries Ply wood.
Recommendation :Buy
Current Market Price : Rs352
Price Target : Rs 430

Amara Raja Batteries.
Recommendation :Buy
Current Market Price : Rs 784
Price Target : Rs 1146

Sail
Recommendation : Buy
Current Market Price : 137
Price Target : 25% up side
Mahindra Logisitics Ltd
Recommendation : Buy
Current Market Price :Rs 594
Price Target : Rs 710

P I Industries
Recommendation :Buy
Current Market Price : Rs 2882
Price Target : Rs 3300

Kajaria Ceramics
Recommendation : Buy
Current Market Price : Rs 994
Price Target : Rs 1270

Balrampur Chinni Mill
Recommendation : Buy
Current Market Price : Rs 353
Price Target : Rs 465

Sundram Fastner Ltd
Recommendation : Buy
Current Market Price : Rs 844
Price Target : Rs 994

Laurus Lab Ltd
Recommendation : Buy
Current Market Price : Rs 616
Price Target : Rs 725

Max Financial Services.
Recommendation :Buy
Current Market Price : Rs 1027
Price Target : Rs 1250

Birla Soft
Recommendation :Buy
Current Market Price : Rs 378
Price Target : Rs 450

WIPRO
Recommendation : Buy
Current Market Price : Rs 544
Price Target : Rs 610

Gujrat Gas.
Recommendation :Buy
Current Market Price : Rs 580
Price Target : Rs 630

Pidilite Industries.
Recommendation : Buy
Current Market Price : Rs 2080
Price Target : Rs 2315

ITC
Recommendation :Buy
Current Market Price : Rs 209
Price Target : Rs 265

Sumi Chem ( Sumitomo)
Recommendation :Buy
Current Market Price : Rs 363
Price Target : Rs 370

Honey well Automation.
Recommendation : Rs Buy
Current Market Price : Rs 41933
Price target : Rs 52407

Shilpa Medical Ltd.
Recommendation : Buy
Current Market Price : Rs 522
Price Target : Rs 540

Polyplex Corpn.
Recommendation : Hold
Current Market Price : Rs 1122
Price Target : Rs 1250

Bharat Petroleum Corp.
Recommendation : Buy
Current Market Price : Rs 471
Price Target : Rs 520

Sun Pharmaceutical Industries Ltd
Recommendation : Buy
Current Market Price : Rs 669
Price Target : Rs 810

Stride Pharma Science ( STAR)
Recommendation : Buy
Current Market Price : Rs 794
Price Target : Rs 1020

Cadila Health Care Ltd.
Recommendation : Buy
Current Market Price : Rs 621
Price Target : Rs 720

Dixon Technologies.
Recommendation : Buy
Current Market Price : Rs 3996
Price Target : Rs 4800

V Guard.
Recommendation : Buy
Current Market Price : Rs 269
Price Target : Rs 311

Thermax
Recommendation : Buy
Current Market Price : Rs 1452
Target Price : Rs 1720

Gabriel India Limited
Recommendation : Buy
Current Market Price : Rs 126
Price Target : Rs 160

TCI
Recommendation : Buy
Current Market Price : Rs 353
Price Target : Rs 444

Arvind
Recommendation : Buy
Current Market Price : Rs 77
Price Target : Rs 95

Emami
Recommendation :Buy
Current Market Price : Rs 504
Price Target : Rs 570

Grasim Industries Limited
Recommendation : Buy
Current Market Price : Rs 1409
Price Target : Rs 1680

Amber Enterprises.
Recommendation : Buy
Current Market Price :Rs 2717
Price Target : Rs 3716

Relaxo foot wear
Recommendation :Buy
Current Market Price : Rs 1101
Price Target : Rs 1150

IOCL
Recommendation : Buy
Current Market Price: Rs 104
Price Target : Rs 125
Astral Limited
Recommendation : Buy
Curent Market Price : Rs 1753
Price Target :Rs 1950
Polycab India
Current Market Price : Rs 1626
Price Target : Rs 1900
Bosch Limited
Recommendation : Buy
Current Market Price : Rs 15288
Price Target : Rs 18156
Relaxo Footwear
Recommendation : Buy
Current market Price : Rs 1035
Price Target : Rs 1150

Colgate Palmolive India: Q4FY2021 result update - Q4 shines bright; focus on keeping the smile wider (Reco. –Buy; TP – Rs1850)

Ambuja cement Q1CY2021 result highlights (standalone) – Standalone revenues up 28.1% y-o-y to Rs. 3621 crore led by 24.5% y-o-y volume growth. EBITDA/tone up 30.1% y-o-y to Rs 1362 (much ahead of consensus estimates). Strong operational performance leads to 66.5% y-o-y rise in net profit to Rs. 664.6 crore (much higher than consensus estimate).



Result highlights:

Ambuja Cement’s standalone net sales grew by 28.1% y-o-y to Rs3,621 cr led by 24.5% y-o-y increase in sales volume. The blended realizations during the quarter grew by 2.9% y-o-y. Overall, revenues were marginally higher than consensus estimates.
Ambuja positively surprised on operational profitability with EBITDA/tone increase of 30.1% y-o-y to Rs. 1362. Lower freight cost (down 4.7% y-o-y on per tone basis), and other expense (down 16.4% y-o-y) led to beat on EBITDA/tonne. OPM for the quarter expanded by 564 bps y-o-y leading to 61.9% y-o-y surge in operating profit.
Strong operational performance along with lower interest expense and lower depreciation led to standalone net profit growth of 66.5% y-o-y to Rs. 664.6 crore which was much ahead of consensus estimates.
Its Marwa, Mundwa Greenfield integrated plant is expected to commence operations in Q3CY2021 which will enhance its clinker capacity by 3MTPA and help improve cement sales by 5MTPA. The company’s ambition is to reach 50MTPA in the mid-term.
The stock is not under our active coverage and we do not have any rating on the stock.


Results (Standalone) Rs.cr

Particulars

Q1CY21

Q1CY20

YoY %

Q4CY20

QoQ %

Net sales

3,621.4

2,827.5

28.1%

3,515.1

3.0%

Operating Profit

976.8

603.2

61.9%

767.8

27.2%

Adjusted PAT

664.6

399.1

66.5%

497.1

33.7%

Reported PAT

664.6

399.1

66.5%

497.1

33.7%

EPS (Rs)

3.35

2.0

66.5%

2.5

33.7%

BPS

BPS

OPM(%)

27.0%

21.3%

564

21.8%

513

Dabur India: Stock update – health and oral care would lead growth ahead (Reco. – Buy; TP – Rs675)

Dabur India Limited (Dabur) consistently registered strong double-digit volume growth of 17%-18% in Q2FY2021 and Q3FY2021. Strong volume growth can be attributed to robust demand for healthcare and ethical products and market share gains in categories such as oral care, shampoos, Chyawanprash, and honey. We expect Dabur to register 30%+ volume in Q4FY2021 on account of sustained double-digit growth in healthcare, ethical and shampoos, improved sales in hair oils due to recovery in the hair oil category, gaining market share in key categories, and supported by low base of Q4FY2020. The recent surge in COVID-19 cases has again pushed demand for sanitizers and hygiene products, while demand for healthcare products continues to remain strong. Our interaction with most medical/chemist shops suggest that demand for products such as giloy, tulsi drops, and honey has gone up significantly in recent times. The company is also promoting Dabur Sanitize Germ Protection soap, which was test marketed in few cities in Q3. Demand for such products is expected to remain strong in the domestic market. From a supply perspective, we do not expect any major disruption due to well-preparedness of consumer goods companies. Further, rural India is yet to see any underperformance and demand environment in rural markets has been keenly monitored in the coming months. Health supplements and OTC products, which registered growth of 49% and 31%, respectively, in 9MFY2021 will continue to deliver strong double-digit growth in the coming quarters (including Q4). Sustained market share gains and higher promotional activities will help the oral care and shampoo category to achieve strong growth. The hair oil category has consistently recovered on a q-o-q basis; and we expect strong rebound in Q4. Going ahead, new product addition, improving pe*******on of healthcare products (including Chyawanprash and honey), sustained market share gains in large categories, and enhanced distribution will help the company to achieve a revenue CAGR of 14.5% over FY2020-FY2023. We expect OPM to gradually improve from 20.6% in FY2020 to 22.5% in FY2023 because of efficiencies, cost-saving programmes, and better revenue mix. Thus, we expect Dabur’s earnings to report a 17.6% CAGR over FY2020-FY2023 (much better than a 6% earning CAGR achieved over FY2017-FY2020). Another year of normal monsoon and sustained strong demand in rural India will act as an additional trigger for earnings uptick in the near term.

Wipro looks like a good counter to watch, Sharekhan recommends Wipro. Download full report from link-https://www.sharekhan.com/MediaGalary/StockIdea/Wipro-3R-Apr15_2021.pdf

www.sharekhan.com

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My philosophy is ‘income’ minus ‘investments’ and the remaining is for ‘expenses’.

I always try to gain financial education to make intelligent financial decisions.
I save regularly in good financial products.
I check my accounts statements regularly.
I monitor and review my investments regularly.
I have an adequate amount of term plan as my family is dependent on me.
I spend money considering my future financial goals and present expenses.
I avoid buying too many credit cards and make limited use of my credit cards.
I know the total amount of my debts and make payments on time.
I project my income & expenses for the next 1 year and track changes.
I focus on risk-reward ratio while making investments.
I store all my financial documents safely & have informed my family about the same.
I have a financial plan & a purpose for investing.

M&M: The company unveiled the brand name of its much-awaited SUV, built on the W601 platform, as the XUV700. The XUV700, which is slated to be launched in Q2FY22, will be manufactured at the company’s manufacturing facility at Chakan in Maharashtra.

View: M&M is focussing on its core SUV business and intends to increase its market share in the segment. The launch of XUV700 is step to strengthen its SUV portfolio. We have a buy rating on M&M with a PT of Rs 1,000.





>>9:30 AM

JSW Steel: The company’s crude steel production increased by 6% y-o-y and 2% q-o-q to 4.19 million tons in 4QFY2021. The company’s average capacity utilisation improved to 93% for 4QFY2021 as compared to 91% of 3Q2021 and utilisation even higher at 96% in March 2021. Strong production number is positive for JSW Steel. We have Buy rating on JSW Steel given play on rising steel sales volume and margin upcycle.

INVESTMENT CALL



Suprajit Engineering Limited: Stock Update - Riding the recovery wave

Suprajit Engineering Limited (Suprajit) continues to strengthen its value proposition to its domestic and global clients, aided by its leadership position in the domestic cable business and locational advantage to its global peers. Key drivers for Suprajit’s success are its ability to produce low-cost cables among domestic players, aided by its operational efficiency and dedicated plants for respective clients. Among global peers, the company benefits from its locational cost advantage. The company has a strong foothold in the cable business in the automotive segment, where it holds 30%-35% market share. The company has a dominant 60%-65% market share in the two-wheelers (2W) cable business. As per estimates shared by the company, Suprajit has 40%-45% market share in the cable business in Indian markets, including the non-automotive business. We expect Suprajit to also benefit from the increase in components per unit and improvement in wallet share with its key customers. Suprajit is one of the largest manufacturers of mechanical control cables with a presence in both automotive and non-automotive segments. Revenue growth has been healthy in the pre-COVID regime, driven by a steady offtake and diversification into aftermarket and exports segments. The company has a healthy business model and reported decent earnings growth and average ROCE during FY2018-FY2020, despite the sharp decline in automobile sales in FY2019 and FY2020, impacted by COVID-19 pandemic. Performance was better than most domestic auto ancillary companies. The company has entered segments such as lamps and has started catering to non-automotive segments through acquisitions and has augmented capacities in the cables business. The company has been gaining market share in the domestic cable division with increased share of business with automotive clients. The company’s market share in 2Ws is 60%-65%, while market share for the automotive business is at 30%-35% and that for Indian markets is at 40%-45%. The aftersales market, both at Suprajit and Phoenix Lamps division, has been strong along with encouraging offtake from original equipment manufacturers (OEMs). We expect Suprajit to benefit from strong demand witnessed in the domestic as well as export markets. The company will also benefit from its capex plans, which will help it to capitalise further in the next peak season. We expect Suprajit’s consolidated earnings to report a 31.0% CAGR during FY2021E-FY2023E, driven by 18.4% revenue CAGR and 160 bps improvement in EBITDA margin. Hence, we retain our Buy rating on the stock.



Our Call -

Valuation - Maintain Buy with a revised PT of Rs. 329

Suprajit would continue to gain wallet share from customers in the cable segment (domestic PV segment and higher sourcing by global OEM) and Phoenix Lamps (increased sourcing by Osram). Further, the company would continue to enter new segments in the non-automotive cable division. We expect FY2022 to be a strong recovery year, driven by normalisation of economic activity and improving demand. Operating leverage coupled with cost-control measures would help in margin improvement. We have increased our earnings estimates to reflect strong growth momentum and impact of improved EBITDA margins. Propelled by robust business outlook and prudent capital allocation, we expect Suprajit’s consolidated earnings to report a 31.0% CAGR during FY2021E-FY2023E, driven by an 18.4% revenue CAGR and 160 bps improvement in EBITDA margin, with its ROCE improving back to in excess of 20% by FY2023E. The stock is trading at 25%-30% discount to its average historical P/E multiple of 16.4x and EV/EBITDA multiple of 10.6x its FY2023E estimates. We retain our Buy rating on the stock with a revised PT of Rs. 329.

Key Risks: The company’s performance can be impacted adversely if commodity prices continue to rise at the current pace and the fear of COVID-19 gets more aggravated in Europe and Americas. Moreover, delayed approval from OEMs for incremental business may impact performance

3R New stock Idea - Mahindra & Mahindra Financial Services Limited: Turning the wheels of fortune (Recco: Buy; PT Rs 260)

Mahindra & Mahindra Financial Services (MMFS) has grown and transformed from being primarily a financing entity for vehicle purchases (from parent M&M) to a leading multiproduct auto finance non-banking financing company (NBFC) with a pan-India presence, deep pe*******on and a strong, rural-focused network. Going ahead, we believe that normalization of credit costs (MMFS has taken significant upfront provision till Q3FY2021; credit costs would normalise in FY22E), pick-up in AUMs in FY22E and FY23E (aided by rise in auto sales), GDP growth and an improved capex cycle leading to disbursement growth) will drive up MMFS’ earnings and RoE. Hence, while the past few quarters have been challenging (due to COVID-19 and the economic slowdown) for growth and asset quality, we expect MMFS to bounce back in FY2022E and FY2023E, which we believe would be key re-rating triggers. The rural segment has been resilient and rising government spends, increased sowing and ample reservoir levels augur well for rural-focused players such as MMFS. Growth is expected to be higher in Q4FY21 led by better cash flows from rural and semi-urban areas. Segments such as tractors should see better volumes in Q4FY21, while cars and other auto segment may take another six months to see complete revival. Asset-quality wise, the improvement in Collections is positive, and we expect the trend to continue, as Q4 is seasonally the best quarter in terms of collections on strong farm cash flows. Going forward, the management has guided to keep net NPAs at sub-4% levels and maintain provisioning coverage ratio (PCR) at 35-36%. The company has restructured only 1% of AUMs, which is also a positive cushion. We believe that as the company brings down its liquidity in next couple of months, margins should improve as the drag on profitability goes down. Backed by the Mahindra Group’s strength, a strong and stable credit rating profile (which allows best-in-class borrowing rates) and augmented capital base (capital raise done in mid-FY21; Tier 1 at 21.9%) the business is attractive over the long term and set to stage a comeback as the economic scenario normalises. We initiate with a Buy rating with a Price Target (PT) of Rs. 260.