Sell Zensar Technologies Ltd For Target Rs.643.00 – Kotak Securities Ltd

Zensar’s results for 3Q beat estimates, largely due to seasonal increase in product revenues and full quarter consolidation of the acquired entity – Professional Access. Organically, services revenues were lower QoQ, we believe. The management has been positive on the future prospects on the back of the order bookings and…

Continue reading

Buy Hindustan Media Ventures Ltd For Target Rs.282.00 – Motilal Oswal Ltd

Ad revenue decelerates; lower newsprint prices drive earnings upgrade *  EBITDA miss led by ad revenue deceleration; higher other income boosts PAT: HMVL’s 3QFY15 PAT grew 27% YoY to INR366m (our estimate: INR319m). However EBITDA was 10% below estimate on lower-than-expected ad growth.   *  Ad growth lowest in five…

Continue reading

Go Back Buy MindTree Ltd For Target Rs.1,530.00 – Prabhudas Lilladher Ltd

MindTree (MTCL) reported a narrow miss to PLe/Consensus expectations at topline, but beat to EBITDA margin. We expect MTCL to deliver USD revenue growth in high teens for FY15 ahead of NASSCOM guidance. Consensus is still cold on operating leverage and growth opportunity, hence we expect earnings upgrade. Retain ‘BUY’.…

Continue reading

Buy Wipro Ltd For Target Rs.640.00 – Firstcall Research Ltd

SYNOPSIS *  Wipro Ltd. is a leading Information Technology, Consulting & Outsourcing Company that delivers solutions to enable its clients. *  During Q3 FY15, Net profit after taxes, minority interest and share of profit of associates of the company increased to Rs. 21928 mn as compared to Rs. 20147 mn…

Continue reading

Go Back Buy Wipro Ltd For Target Rs.711.00 – Angel Broking Pvt Ltd

td   Performance Highlights For 3QFY2015, Wipro’s IT services segment reported a revenue of US$1,795.4mn (V/s an expected US$1,793.3mn), up 1.3% qoq, mainly impacted by cross currency fluctuations. In constant currency (CC) terms, revenue grew by 3.7% qoq, during the quarter. At the consolidated level, the company posted a revenue…

Continue reading

Oberoi Realty Ltd To Outperformer With a Target Rs.340.00 – IDFC Securities Ltd

Q3FY15 result highlights *  Oberoi Realty’s (Oberoi) consolidated revenues grew by 17% qoq (up 27% yoy) to Rs2.17bn (est., Rs1.97bn) aided by better pre-sales from Exquisite project. Income from rental properties grew by 7% yoy to Rs Rs687m driven by hospitality revenues. Operationally, Q3 was strong with 200% qoq and…

Continue reading

Hold Hindustan Unilever Ltd For Target Rs.925.00 – Sharekhan

Key points *  HUL’s revenues grew by 8% in Q3FY2015 with the volume in the domestic consumer business growing by just 3% (vs a 5-6% growth in the earlier quarters). The volume growth was lower by 1-2% because of a late arrival of the winter season that affected the sales…

Continue reading

Neutral On Mindtree Ltd For Target Rs.1,400.00 – IDFC Securities Ltd

Q3FY15 result highlights *  USD revenues grew by 0.4% qoq (~US$148m; ~2% qoq in constant currency), marginally weaker than expectations. Volume declined 1.5% qoq (weak seasonality) while blended pricing was up 2.1% (onsite shift ~60bp; onsite pricing -0.7%; offshore +2.4%). *  The company reported healthy growth in the Retail, CPG…

Continue reading

Sell Mahindra & Mahindra Financial Services Ltd For Target Rs.250.00 – Kotak Securities Ltd

Q3FY15: No respite from asset quality pains. NII (9.2% YoY) came below our expectations on back of sharp NIM contraction due to interest reversal as asset quality continued to deteriorate. PAT was down 16.9% YoY (Rs.1.36 bn) on back of sharp rise in NPA provisions (~50% YoY) along with subdued…

Continue reading