Broker Research

We have marginally modified our estimates for FY19/FY20 and have retained a Buy rating on HBL, retained our target price of Rs2,301 valuing the stock at 4.1x FY20E P/BV.
April 23, 2018, 11:55 a.m.
Publisher: nirmalbang.com

The bank reported a healthy and stable performance across the parameters: Loan growth was healthy at 4.3%/18.7% QoQ/YoY led by retail, NIMs were sequentially stable at 4.3%, asset quality was stable, and cost/Income ratio inched down further.
April 23, 2018, 11:53 a.m.
Publisher: karvyonline.com

NRB remains a key beneficiary of the strong volume growth witnessed in the automobile segment across sectors with OEMs accounting for ~65% of revenues. Exports are also growing at a robust pace led by a recovery in the North-American and European truck/PV markets (~20% of revenue).
April 23, 2018, 10:01 a.m.
Publisher: indianotes.com

Net Sales and PAT of the company are expected to grow at a CAGR of 28% and 42% over 2017 to 202GB respectively.Hence, we say that, we are Overweight in this particular scrip for Medium term investment.
April 21, 2018, 2:08 p.m.
Publisher: indianotes.com

Net Sales and Operating Profit of the company are expected to grow at a CAGR of 34% and 70% over 2017 to 202oE,respectively. Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.
April 21, 2018, 2:01 p.m.
Publisher: indianotes.com

DCB Bank (DCBB) posted a strong all-round 4QFY18 performance with a ~22% yoy PAT growth (Rs 642mn, EE Rs 607mn), 29% yoy loan growth and better asset quality (GNPA/NNPA improving to 1.8%/0.7% on lower slippages at 1.7%). While core fee income grew by a strong 40% yoy, NIM (calc.) contracted 8bps qoq.
April 20, 2018, 3:31 p.m.
Publisher: indianotes.com

ACC reported a healthy performance for 1QCY18 with revenue growth of 14.8% YoY at Rs 35.6bn aided by volume/realisation growth.
April 20, 2018, 2:55 p.m.
Publisher: nirmalbang.com

TCS’ sequential revenue growth of 2.0% in CC terms in 4QFY18 was above our estimate of 1.5%
April 20, 2018, 2:55 p.m.
Publisher: nirmalbang.com

We have retained Buy rating on IBL, raised our target price to Rs 2,165 (from Rs2,018 earlier) and valued the stock at 3.9x FY20E P/BV.
April 20, 2018, 2:54 p.m.
Publisher: nirmalbang.com

TCS’ 4QFY18 USD revenue grew by 3.9% QoQ (2% in CC terms), marginally ahead of our estimate. Volume growth came in at 2% QoQ, while CC pricing remained flat. EBIT margin rose by 22bps QoQ led by operational efficiency and favourable currency.
April 20, 2018, 2:50 p.m.
Publisher: trade.rsec.co.in