Market Mantra: The Money Daily – August 24, 2015

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Market Mantra   Bear it! Just another Manic Monday on every Street   The selling wave is hitting world markets and the sea of red is sure to hit the Indian bourses at the start itself.  Wall Street saw a big crash on Friday and global markets are continuing the…

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Greaves Cotton (Q1 FY16) – BUY

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Greaves Cotton (Q1 FY16) – BUY CMP Rs148, Target Rs232, Upside 56.7%   ²  Revenues at Rs381cr were lower by 9.9% yoy; lower than our estimates, Engine segment revenues were lower by 5.6% yoy as growth in volumes remained flat to weak across segments ²  OPM at 16.4% was substantially…

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Result Update: Maruti Suzuki (Q3 FY15)

Maruti Suzuki (Q3 FY15) – BUY CMP Rs3,685, Target Rs4,280, Upside 16.1%   ²  Net sales surge 15.4% yoy owing to 12.4% yoy rise in volumes. Domestic volumes were higher by 10.1% yoy while export volumes jumped 43.8% yoy ²  OPM at 12.7% was in line with our expectations which represented an…

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Buy Dewan Housing Finance Corporation Ltd For Target Rs.553.00 – Firstcall Research Ltd

  SYNOPSIS *  Dewan Housing Finance Corporation Ltd. (DHFCL) established on the year 1984, to provide affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India. *  Net sales rose by 17.31% y-o-y at Rs. 15262.70 million in 3rd quarter of the current…

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Buy Hindustan Media Ventures Ltd For Target Rs.292.00 – Angel Broking Pvt Ltd

  Performance Highlights Hindustan Media Ventures (HMVL) reported healthy results for 3QFY2015, both on the top-line and bottom-line front. The top-line growth was healthy mainly due to decent growth in advertising and circulation revenue. On the operating front, the company’s performance was modest; however, higher other income boosted profitability.  …

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Buy Hindustan Media Ventures Ltd For Target Rs.292.00 – Angel Broking Pvt Ltd

Performance Highlights Hindustan Media Ventures (HMVL) reported healthy results for 3QFY2015, both on the top-line and bottom-line front. The top-line growth was healthy mainly due to decent growth in advertising and circulation revenue. On the operating front, the company’s performance was modest; however, higher other income boosted profitability.   Healthy…

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Buy ITC Ltd For Target Rs.420.00 – Motilal Oswal Ltd

  Muted volumes not the new normal *  ITC’s 3QFY15 performance was below our expectations. Sales grew 2.5% YoY to INR89.4b (our estimate: INR96.9b), EBITDA grew 5.5% YoY to INR34.6b (our estimate: INR37b), and adjusted PAT increased 10.5% YoY to INR26.4b (our estimate: INR27.5b).   *  Cigarette volumes collapsed 12-13%…

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Buy Bajaj Auto Ltd For Target Rs.2660.00 – Firstcall Research Ltd

s Report   SYNOPSIS *  Bajaj Auto Ltd is ranked as the world’s fourth largest two and three wheeler manufacturer and the Bajaj brand is well-known across several countries in Latin America, Africa, Middle East, South and South East Asia. *  During Q3 FY15, revenue rose by 10.25% to Rs.…

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Neutral On Federal Bank Ltd – Angel Broking Pvt Ltd

Performance Highlights Federal Bank reported a moderate set of numbers for 3QFY2015, with NII growth at 7.6% yoy and pre-provisioning profit growth at 11.6% yoy. A provisioning write back of `0.8cr aided the bank to report an earnings growth of 15%.   Advances growth remains healthy; NIM fell qoq During…

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