Marico:
We prefer Marico over other FMCG peers led by its ability to strengthen market share in hair oils (Parachute), increasing presence in high growth healthy foods portfolio (oats & muesli) and revival in edible oil (Saffola) sales. Further, led by the initiative to increase presence in rural market we expect revenues to post strong growth of about 19 per cent CAGR (FY13-15E).
The stock is trading below its five-year average P/E (one-year forward) of 2 ..
We prefer Marico over other FMCG peers led by its ability to strengthen market share in hair oils (Parachute), increasing presence in high growth healthy foods portfolio (oats & muesli) and revival in edible oil (Saffola) sales. Further, led by the initiative to increase presence in rural market we expect revenues to post strong growth of about 19 per cent CAGR (FY13-15E).
The stock is trading below its five-year average P/E (one-year forward) of 2 ..
Shree Cements:
The company is on track on the capacity expansion front. Cement capacity of 13.5 MT is likely to increase to 21.5 MT by FY16E. Hence, volume growth momentum is expected to continue, backed by an improvement in the pricing scenario in the north. Also, the company has 560 MW for the power plant for captive consumption and external sales
Although challenges in terms of slowdown would remain in the near term, a strong balance sheet and better efficie ..
The company is on track on the capacity expansion front. Cement capacity of 13.5 MT is likely to increase to 21.5 MT by FY16E. Hence, volume growth momentum is expected to continue, backed by an improvement in the pricing scenario in the north. Also, the company has 560 MW for the power plant for captive consumption and external sales
Although challenges in terms of slowdown would remain in the near term, a strong balance sheet and better efficie ..
Titan Industries:
We expect revenues, PAT to grow at a CAGR of 19 per cent, 16 per cent (FY13-16E), respectively, bearing in mind the current regulatory framework. It is likely to gain market share as its unorganised peers are likely to find it difficult to survive in the current regulatory situation.
Owing to the strong balance sheet (cash of Rs 800 crore), Titan is better placed to fund its working capital requirements. Being one of the least leveraged (0.3x) ..
We expect revenues, PAT to grow at a CAGR of 19 per cent, 16 per cent (FY13-16E), respectively, bearing in mind the current regulatory framework. It is likely to gain market share as its unorganised peers are likely to find it difficult to survive in the current regulatory situation.
Owing to the strong balance sheet (cash of Rs 800 crore), Titan is better placed to fund its working capital requirements. Being one of the least leveraged (0.3x) ..
Oberoi Realty:
We anticipate a pick-up in sales volume with new launches such as Mulund and Worli lined up in FY15. Consequently, we expect sales volume of 1.1 mn sq ft in FY15E versus 0.5 mn sq ft in FY13. Further, with Esquire expected to reach revenue threshold in FY15, we expect a healthy 16.8 per cent and 23.3 per cent YoY growth in revenues and PAT, respectively, in FY15E.
Available at an attractive valuation (1.4x FY15E P/BV and 0.7x its NAV), we believe ..
We anticipate a pick-up in sales volume with new launches such as Mulund and Worli lined up in FY15. Consequently, we expect sales volume of 1.1 mn sq ft in FY15E versus 0.5 mn sq ft in FY13. Further, with Esquire expected to reach revenue threshold in FY15, we expect a healthy 16.8 per cent and 23.3 per cent YoY growth in revenues and PAT, respectively, in FY15E.
Available at an attractive valuation (1.4x FY15E P/BV and 0.7x its NAV), we believe ..
Bajaj Auto:
Bajaj Auto (BAL) remains poised to witness richer ASPs as the product mix improves in coming years as new product launches gain traction and urban demand revives. Also, export profitability is set to improve on better dollar realization going on in the coming periods. Thus, the financial performance would continue to remain above its competitors
We feel BAL is factoring in a lot of concerns and provides a good case for re-rating considering a stron ..
Bajaj Auto (BAL) remains poised to witness richer ASPs as the product mix improves in coming years as new product launches gain traction and urban demand revives. Also, export profitability is set to improve on better dollar realization going on in the coming periods. Thus, the financial performance would continue to remain above its competitors
We feel BAL is factoring in a lot of concerns and provides a good case for re-rating considering a stron ..
IndusInd Bank:
IndusInd Bank (IIB) earns one of the best RoAs in the industry at ~1.6 per cent and has a high yield loan portfolio of 50 per cent commercial finance including CV and 50 per cent corporate finance. Strong management remains a key strength of the bank since it took over in FY08.
The bank aims to achieve loan growth of 25-30 per cent CAGR, double the branch network to 1000, raise fee income to exceed loan growth & CASA to be i ..
IndusInd Bank (IIB) earns one of the best RoAs in the industry at ~1.6 per cent and has a high yield loan portfolio of 50 per cent commercial finance including CV and 50 per cent corporate finance. Strong management remains a key strength of the bank since it took over in FY08.
The bank aims to achieve loan growth of 25-30 per cent CAGR, double the branch network to 1000, raise fee income to exceed loan growth & CASA to be i ..
Idea Cellular:
Idea would benefit from increasing data penetration and reducing discounts in voice. With 60 per cent increase in data consumption to 123 million GB & 25 per cent increase in data subscribers to 49 million in FY15, data revenue would grow at 55 per cent contributing 13 per cent to revenue up from 5 per cent in FY13.
Aided by industry wide curb on discounts, Idea's ARPM may expand 3.2 per cent to 38.7 paisa, up from 35.4 paisa in FY13. Led by ..
Idea would benefit from increasing data penetration and reducing discounts in voice. With 60 per cent increase in data consumption to 123 million GB & 25 per cent increase in data subscribers to 49 million in FY15, data revenue would grow at 55 per cent contributing 13 per cent to revenue up from 5 per cent in FY13.
Aided by industry wide curb on discounts, Idea's ARPM may expand 3.2 per cent to 38.7 paisa, up from 35.4 paisa in FY13. Led by ..
ITC:
ITC is our top pick in the FMCG segment considering its pricing power in cigarettes, extensive distribution network and product launches in FMCG keeping FMCG revenue growth at high teens, improvement in RoE from hotel business and improving margins from paperboards business
Led by the company's strong pricing power in cigarettes, we believe EBIT growth of cigarettes would continue to grow in mid teens (~80 per cent of ITC's EBIT) through FY16E. Further, with not more than 10 per cent excise hike expected in the FY15 Budget, we expect cigarette volume growth to revive to 1 per cent in FY15E and 2.5 per cent in FY16E (-4 per cent in FY14E).
Currently, the stock is trading near its five-year average P/E multiple (one-year forward) of 22x FY16E EPS. With cigarettes EBIT growth remaining at mid-teens and FMCG business to breakeven by FY14E, we expect multiples to expand hereon.
ITC is our top pick in the FMCG segment considering its pricing power in cigarettes, extensive distribution network and product launches in FMCG keeping FMCG revenue growth at high teens, improvement in RoE from hotel business and improving margins from paperboards business
Led by the company's strong pricing power in cigarettes, we believe EBIT growth of cigarettes would continue to grow in mid teens (~80 per cent of ITC's EBIT) through FY16E. Further, with not more than 10 per cent excise hike expected in the FY15 Budget, we expect cigarette volume growth to revive to 1 per cent in FY15E and 2.5 per cent in FY16E (-4 per cent in FY14E).
Currently, the stock is trading near its five-year average P/E multiple (one-year forward) of 22x FY16E EPS. With cigarettes EBIT growth remaining at mid-teens and FMCG business to breakeven by FY14E, we expect multiples to expand hereon.
Bajaj Auto currently at 1899.95 with profit of 1.50 (+0.08%)points. so tell me next profit call and SL.
ReplyDeleteStock market tips for intraday