Brokers’ call on TTK Prestige, IndusInd, DLF
Espirito Santo has downgraded the rating of TTK Prestige to ‘Neutral’ and set a target price of Rs 3,500.
Espirito Neutral on TTK Prestige
Espirito Santo has downgraded the rating of TTK Prestige to ‘Neutral’ and set a target price of Rs 3,500. “Whilst sales of TTK’s products have been fairly resilient in the economic slowdown, we see increased risk to demand as slowing GDP growth, negative real wage inflation and lack of employment opportunities increase risks to consumption of discretionary items; this risk has been exacerbated by persistent inflation and a slow monsoon,” Espirito said in a report.
Goldman Retains Buy on IndusInd
Goldman Sachs has retained its ‘Buy’ rating on IndusInd Bank and set a target price of Rs 430. IndusInd Bank reported Q2FY13 PAT of Rs 250 crore, 2% ahead of consensus. “We retain our Buy rating as we expect IndusInd Bank to deliver EPS growth of over 24% in the next three years driven by branch expansion, margin expansion on higher CASA, and a 36% growth in fee income.
No Kejriwal Impact on DLF: UBS
India’s biggest property developer DLF was likely to suffer no material impact from accusations by Arvind Kejriwal and his group India Against Corruption (IAC) of improper dealings, and the issue had been largely priced in to the stock, UBS said. Activists from IAC on Friday accused DLF arranging favourable loans and real estate transactions to Robert Vadra, the son-in-law of ruling Congress party chief Sonia Gandhi. The anti-graft group also accused DLF on Tuesday of receiving undue favours from the Haryana government. UBS maintained its ‘Buy’ rating on DLF.The company’s shares closed up 3.9% on the BSE on Thursday.
Espirito Santo has downgraded the rating of TTK Prestige to ‘Neutral’ and set a target price of Rs 3,500. “Whilst sales of TTK’s products have been fairly resilient in the economic slowdown, we see increased risk to demand as slowing GDP growth, negative real wage inflation and lack of employment opportunities increase risks to consumption of discretionary items; this risk has been exacerbated by persistent inflation and a slow monsoon,” Espirito said in a report.
Goldman Retains Buy on IndusInd
Goldman Sachs has retained its ‘Buy’ rating on IndusInd Bank and set a target price of Rs 430. IndusInd Bank reported Q2FY13 PAT of Rs 250 crore, 2% ahead of consensus. “We retain our Buy rating as we expect IndusInd Bank to deliver EPS growth of over 24% in the next three years driven by branch expansion, margin expansion on higher CASA, and a 36% growth in fee income.
No Kejriwal Impact on DLF: UBS
India’s biggest property developer DLF was likely to suffer no material impact from accusations by Arvind Kejriwal and his group India Against Corruption (IAC) of improper dealings, and the issue had been largely priced in to the stock, UBS said. Activists from IAC on Friday accused DLF arranging favourable loans and real estate transactions to Robert Vadra, the son-in-law of ruling Congress party chief Sonia Gandhi. The anti-graft group also accused DLF on Tuesday of receiving undue favours from the Haryana government. UBS maintained its ‘Buy’ rating on DLF.The company’s shares closed up 3.9% on the BSE on Thursday.
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