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Buy The Ramco Cements, target price Rs 1110: Edelweiss

Edelweiss has buy call on The

Ramco Cements

Ltd. with a target price of Rs 1110. The current market price of The Ramco Cements is Rs 1067.85.

Time period given by analyst is Intra Day when The Ramco Cements Ltd. price can reach defined target.
The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 25188.68 Crore) operating in Cement sector.

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Stock score of Ramco Cements Ltd moved up by 2 in a week on a 10-point scale.

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Stock score of Ramco Cements Ltd is 8 on a scale of 10. View Stock Analysis »

The Ramco Cements Ltd. key Products/Revenue Segments include Cement, Power, Dry Mortar Mix, Scrap, Ready Mix Concrete and Other Operating Revenue for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1510.33 Crore, up 21.80 % from last quarter Total Income of Rs 1239.99 Crore and up 18.60 % from last year same quarter Total Income of Rs 1273.47 Crore. Company reported net profit after tax of Rs 519.12 Crore in latest quarter.

Investment Rationale
Ramco Cement has formed a triple bottom pattern at levels of 920.

Promoter/FII Holdings
Promoters held 42.52 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.71 per cent, DIIs 31.68 per cent.

Buy Tata Motors, target price Rs 522: ICICI Direct

ICICI Direct has buy call on Tata Motors with a target price of Rs 522. The current market price of Tata Motors Ltd. is Rs 485.7.

Time period given by analyst is Intra Day when Tata Motors Ltd. price can reach defined target.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 160603.29 Crore) operating in Auto sector.

Tata Motors Ltd. key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 62245.73 Crore, down -7.08 % from last quarter Total Income of Rs 66988.05 Crore and up 14.92 % from last year same quarter Total Income of Rs 54163.22 Crore. Company reported net profit after tax of Rs -4476.61 Crore in latest quarter.

Investment Rationale
Bullish Pennant continuation pattern offers fresh entry opportunity, MACD in buy mode.

Promoter/FII Holdings
Promoters held 46.41 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.35 per cent, DIIs 13.3 per cent.

Add Ajanta Pharma, target price Rs 2440: HDFC Securities

HDFC Securities has add call on

Ajanta Pharma

with a target price of Rs 2440. The current market price of Ajanta Pharma Ltd. is Rs 2136.05. Time period given by analyst is one year when Ajanta Pharma Ltd. price can reach defined target. .

Ajanta Pharma Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 18342.12 Crore) operating in Pharmaceuticals sector.

Ajanta Pharma Ltd. key Products/Revenue Segments include Pharmaceutical Products, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2021.

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Stock score of Ajanta Pharma Ltd moved down by 1 in a month on a 10-point scale.

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Stock score of Ajanta Pharma Ltd is 7 on a scale of 10. View Stock Analysis »

Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 914.34 Crore, up 17.13 % from last quarter Total Income of Rs 780.62 Crore and up 26.86 % from last year same quarter Total Income of Rs 720.76 Crore. Company has reported net profit after tax of Rs 195.94 Crore in latest quarter.

Investment Rationale
Ajanta’s Q2 revenue/EBITDA came in 8%/9% ahead of expectations, primarily on account of robust growth in Indian and African businesses. EBITDA margin, at 29.7%, was broadly in line as higher other expenses were offset by savings in staff cost. The company has guided towards higher opex of ~INR2.25bn per quarter vs. the average run-rate of ~INR2bn in preceding quarters, which is likely to offset some benefits on account of operating leverage. However, the growth outlook for the branded generic business, such as the India, Africa (outperformance to continue) and US generics business (new launches led), remains strong. The brokerage expects 15%/16% revenue/EPS CAGRs over FY21-24e. It revises EPS by 4%/-5% for FY22/23 to factor in Q2 beat/ margin moderation and roll forward to Sep’23 EPS to arrive at a TP of INR2,440/sh, based on 23x Sep’23e EPS.

Promoter/FII Holdings
Promoters held 70.34 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.72 per cent, DIIs 12.07 per cent.

Buy Cipla, target price Rs 1120: Centrum Broking

Centrum Broking has buy call on

Cipla

with a target price of Rs 1120. The current market price of Cipla Ltd. is Rs 897.35. Time period given by analyst is one year when Cipla Ltd. price can reach defined target.

Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 72586.73 Crore) operating in Pharmaceuticals sector.

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Export Incentives, Royalty Income and Scrap for the year ending 31-Mar-2021.

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Stock score of Cipla Ltd moved down by 2 in a month on a 10-point scale.

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Stock score of Cipla Ltd is 6 on a scale of 10. View Stock Analysis »

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 5580.47 Crore, up .20 % from last quarter Total Income of Rs 5569.28 Crore and up 9.60 % from last year same quarter Total Income of Rs 5091.76 Crore. Company reported net profit after tax of Rs 712.00 Crore in latest quarter.

Investment Rationale
India business could post market-beating growth in FY22 while US business is expected to post faster ramp-up starting 2HFY23, with new launches like aAbraxane, gAdvair and gRevlimed. Considering lower R&D spend, given that major trials have been completed, along with consistent cost optimization, we expect better earnings trajectory. We look forward to (1) opportunities from inhaler – gAdvair filed in May 2020; (2) biosimilar product filings; (3) China market entry, focused on respiratory segment – more of H2FY22 opportunity. The brokerage maintains multiple at 26x average of FY23E & FY24E EPS, marginally changed FY22/FY23E earnings, and introduced FY24E. BUY with a TP of Rs1,120. At CMP of Rs917, the stock trades at 22.8x FY23E EPS of Rs40.1 and 19.4x FY24E EPS of Rs47.2.

Promoter/FII Holdings
Promoters held 36.12 per cent stake in the company as of 30-Sep-2021, while FIIs owned 28.1 per cent, DIIs 17.74 per cent.

Pernod Ricard upbeat despite volatile climate

Mumbai: Pernod Ricard, the world’s second largest distiller, said its growth has resumed in “must-win” markets including India, which could help it post a yearly sales expansion. The French maker of Absolut vodka and Chivas Regal scotch said its sales in India grew 2% year-on-year in the quarter to December 2020 although business in the first half of the financial year saw a 6% decline. The company follows a July-June financial year.

“Despite an uncertain and volatile environment, with disruption in the on-trade and a prolonged downturn in travel retail, we anticipate organic sales growth for full-year FY21, thanks in particular to our dynamic performance in domestic must-win markets USA, China and India,” Pernod Ricard chairman Alexandre Ricard said in the company’s quarterly earnings statement.

India, one of the company’s four “must-win” markets, accounts for 11% of its global sales. Pernod India gets a significant chunk from premium and semi-premium brands, mainly Blenders Pride, Royal Stag and Imperial Blue.

Liquor manufacturing, distribution and retailing in India came to a complete standstill during the Covid-19-induced nationwide lockdown from March 25 to May 3 last year. While retail stores reopened in May, on-trade channels — bars, pubs and restaurants — started much later in many parts of the country and are still seeing subdued demand for liquor. During the lockdown, several states also introduced additional taxes and excise duties that have impacted retail prices.

Pernod Ricard said off-trade channels are now open in all regions and production capacity has normalised at an overall level.

“Sanitary restrictions improved progressively throughout the first half and led to easing of restrictions on public gatherings in the second quarter,” said the company. “Seagram’s Indian whiskies (are) in decline but positive mix due to stronger emphasis on Royal Stag and Blenders Pride.

India on course for open access in its markets: RBI deputy governor

India is nearing a big shift in its long-term goal of achieving open access to and convertibility in its markets with greater global integration and freer non-resident access to debt, Reserve Bank of India deputy governor T. Rabi Sankar said.

“India has come a long way in achieving increasing levels of convertibility on the capital account,” Sankar said in a speech at a forex dealers event on Thursday, referring to the ability to convert local financial assets into foreign financial assets and vice versa.

Sankar said there was an effort to liberalize foreign portfolio investor flows into Indian debt further with the introduction of the Fully Accessible Route (FAR), which places no limit on non-resident investment in specified benchmark securities.

“Since over time, virtually all securities will fall under the FAR category, the move is unambiguously towards an eventual unfettered access for non-residents into government securities,” he added.

He also said efforts to get the country included in global bond indexes and a move towards placing government securities under global custodians, once implemented, will encourage debt flows in the future.

India’s inclusion in global indexes could materialise in 2022, bringing potential inflows of between $30 billion and $40 billion, HSBC analysts estimate.

Despite the move towards greater convertibility, Sankar warned of the risks involved including sudden reversals of flows among others, which would need to be addressed.

“The rate of change in capital convertibility will only increase with each of these and similar measures,” Sankar said.

“With that comes the responsibility to ensure that such flows are managed effectively with the right combination of capital flow measures, macro-prudential measures and market intervention”.

He said market participants, particularly banks, need to prepare themselves to manage the business-process changes and global risks associated with capital convertibility, while the job of the central bank as regulator is somewhat different.

“The job of a regulator is like the gas regulator in the kitchen; it cannot ensure the quality of the dish, but it can prevent the kitchen from blowing up,” Sankar said.

Buy Tata Motors, target price Rs 546: Yes Securities

Yes Securities has buy call on

Tata Motors

with a target price of Rs 546. The current market price of Tata Motors Ltd. is Rs 508.6.

Time period given by analyst is Intra Day when Tata Motors Ltd. price can reach defined target.
Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 168887.45 Crore) operating in Auto sector.

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Stock score of Tata Motors Ltd moved down by 2 in a month on a 10-point scale.

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Stock score of Tata Motors Ltd is 8 on a scale of 10. View Stock Analysis »

Tata Motors Ltd. key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 66988.05 Crore, down -25.00 % from last quarter Total Income of Rs 89319.34 Crore and up 105.55 % from last year same quarter Total Income of Rs 32589.59 Crore. Company reported net profit after tax of Rs -4320.60 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a sideways consolidation phase suggesting bullishness building up here. Further, RSI has turned higher from the previous reversal zone of 65 confirming the bullishness.

Promoter/FII Holdings
Promoters held 46.41 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.35 per cent, DIIs 13.3 per cent.

Buy Axis Bank, target price Rs 835: Kotak Securities

Kotak Securities Limited has buy call on Axis Bank with a target price of Rs 835. The current market price of Axis Bank Ltd. is Rs 808.95.

Time period given by analyst is Intra Day when Axis Bank Ltd. price can reach defined target.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 247723.61 Crore).

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 20285.41 Crore, down -3.53 % from last quarter Total Income of Rs 21028.45 Crore and up 4.23 % from last year same quarter Total Income of Rs 19461.77 Crore. The bank reported net profit after tax of Rs 2356.91 Crore in latest quarter.

Investment Rationale
Hammer candlestick near short-term moving average suggests bullish momentum to persist.

Promoter/FII Holdings
Promoters held 11.64 per cent stake in the company as of 30-Sep-2021, while FIIs owned 54.53 per cent, DIIs 22.17 per cent.

Hold Indus Towers, target price Rs 305: Emkay Global

Emkay Global has hold call on Indus Towers with a target price of Rs 305. The current market price of Indus Towers Ltd. is Rs 270.

Time period given by analyst is one year when Indus Towers Ltd. price can reach defined target.

Indus Towers Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 74097.29 Crore) operating in Telecommunications sector.

Indus Towers Ltd. key Products/Revenue Segments include Income from Infrastructure Activity for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 6969.20 Crore, up 1.68 % from last quarter Total Income of Rs 6853.90 Crore and up 289.65 % from last year same quarter Total Income of Rs 1788.60 Crore. Company reported net profit after tax of Rs 1558.50 Crore in latest quarter.

Investment Rationale
The recently announced telecom relief package by the government and the moderation in tenancy exits have removed the risk to revenues as well as the overhang on the stock (up 26% in the last three months). However, the continued increase in receivables (50% rise in H1FY22) points to the weak financial position of VIL. The brokerage continues to highlight that VIL will have to bring its house in order with fresh funding and tariff hikes before it starts investing in network expansion, which could potentially lead to tenancy additions for Indus. Until then, it believes that Bharti will remain the key contributor to tenancy growth, with single tenancy tower additions. It has raised FY22E revenue assumptions due to the inflation in diesel prices, while largely retaining revenue estimates for FY23-24. However, it has revised bottom-line projections upward by 2-4% due to lower depreciation charges. Key risks: 1) aggressive 4G expansion for independent sites; 2) robust growth from Jio; 3) shift to 5G, leading to fresh investments; 4) improvement in VIL’s financials; and 5) new revenue sources such as smart cities.

Promoter/FII Holdings
Promoters held 69.85 per cent stake in the company as of 30-Sep-2021, while FIIs owned 29.1 per cent, DIIs 0.35 per cent.

Buy Indian Bank, target price Rs 205: HDFC Securities

HDFC Securities has buy call on

Indian Bank

with a target price of Rs 205. The current market price of Indian Bank is Rs 181.55.

Time period given by analyst is six months when Indian Bank price can reach defined target.

Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 21695.58 Crore).

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Stock score of Indian Bank moved up by 3 in 3 months on a 10-point scale.

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Stock score of Indian Bank is 10 on a scale of 10. View Stock Analysis »


Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 11608.53 Crore, up 8.24 % from last quarter Total Income of Rs 10724.53 Crore and up .45 % from last year same quarter Total Income of Rs 11556.09 Crore. The bank reported net profit after tax of Rs 1259.82 Crore in latest quarter.

Investment Rationale
Primary trend of the stock has been bullish with higher tops and higher bottoms

Promoter/FII Holdings
Promoters held 79.86 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.41 per cent, DIIs 10.52 per cent.