Buy, Sell, Hold: 5 stocks and 1 sector are on analysts’ radar on
L&T, NTPC, and KNR, among others, are being tracked by investors on Tuesday.
ACC-Ambuja
Brokerage: CLSA
The global research firm believes that transaction costs seem to be prohibitive between ACC and Ambuja. The merger could not happen unless there is a regulatory change. Having said that, the ultimate goal for the two is to still merge, as per the management it said. CLSA has a buy call on Ambuja with a target of Rs 325, while the rating is same in case of ACC a well. The target, in this case, is Rs 2,150.
Brokerage: Credit Suisse
Credit Suisse said that the full merger proposal replaced by material swap agreements. Overall, it remains cautious on the cement sector.
Brokerage: Deutsche Bank
The global investment bank said that issues & costs w.r.t transfer of limestone mines a key constraint in the merger. Further, the interim arrangement between the companies is likely to be on logistics. It prefers ACC to Ambuja on valuations.
L&T
Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 1,640
Deutsche Bank said that 9 big metro & road projects may support double-digit growth. Further, FY19 expected pipeline could be 20% higher than FY18. It also said that the company is trading at a discount to BSE CG index against a premium historically.
NTPC
Brokerage: Credit Suisse | Rating: Upgrade to Outperform | Target: Rs 190
The brokerage house said that significant underperformance and several catalysts prompt upgrade. Further, the company can meet its FY18/19 installation and commission targets. It also said that valuations are attractive at current levels.
Reliance Industries
Brokerage: Motilal | Rating: Buy | Target: Rs 1,111
The brokerage house said that strong core performance will continue. Further, it expects USD 11.50/bbl Of GRM In FY19-20. It also expects free cash flow generation of Rs 67,800 crore during FY18-20 on a consolidated basis.
KNR
Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 375
The brokerage said that it is well placed to seize abundant opportunities in the South. It remains upbeat on medium-term business prospects.
Graphite Electrode
Brokerage: Jefferies
Jefferies observed that prices of GE are strong and upwards of USD 10,000 per tonne. It estimated 80% utilization for both Graphite India & HEG For FY19-20. It also observed that steelmakers are trying to reduce GE consumption. Overall, it is positive in Graphite electrode sector.
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Brokerage: Credit Suisse
The global investment bank said that issues & costs w.r.t transfer of limestone mines a key constraint in the merger. Further, the interim arrangement between the companies is likely to be on logistics. It prefers ACC to Ambuja on valuations.
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