Trading desk: The movers and shakers on D-Street
Lenders which would indirectly benefit from a revival in the capex cycle also gained. Shares of ICICI Bank surged 5.16% to close at Rs 1,201.75.
Updated:
Foreign investors bought Indian shares worth Rs 2,473 crore while domestic institutional investors sold shares worth Rs 1,205.81 crore as per the provisional figures.
> Shares of engineering and construction conglomerate L&T surged 4.52% to close at Rs 1,146.10, while HCC rose 4.75% to close at Rs 14.11.
Lenders which would indirectly benefit from a revival in the capex cycle also gained. Shares of ICICI Bank surged 5.16% to close at Rs 1,201.75.
> Nomura has maintained its ‘Buy’ rating on ITC with a target price of Rs 392 as it views it as a key consumer stock to own into 2014. The stock trades at a P/E multiple of 22.8x on FY15 forward earnings of Rs 13.57.
It believes ITC will deliver higher earnings growth over the next three years versus HUL and hence such a huge discount is unwarranted. Shares of ITC closed at Rs 313 up 0.43%.
> Goldman Sachs has reiterated its ‘Sell’ rating on BHEL as it believes the recent run-up in the shares as unjustified given the deterioration in operating metrics. The stock now trades at 12-month forward P/E of 12x, a 21% discount to its seven-year historical average.
It expects RoE compression of 1,550bps over FY13-16 estimates. The global investment bank has valued the stock at 8.5X FY15 estimates P/E giving a 12-month target price of Rs 110. Shares of BHEL closed at Rs 171.70, up 0.20%.
> Leading brokerage IDBI Capital has maintained its ‘Hold’ rating on V-Guard with an unchanged price target of Rs 482 as it believes the stock offers limited upside. V-Guard currently trades at 14x PER and 10x EV/EBITDA FY15 estimates. Shares of V-Guard closed at Rs 484.10,up 0.28%.
> Japanese investment bank Nomura has maintained its ‘Buy’ rating on NTPC with a target price of Rs 193. The stock trades at FY15 forward 1.3x P/B and 10.6x P/E. NTPC rose almost 3% to close at Rs 153.25.
> Shares of engineering and construction conglomerate L&T surged 4.52% to close at Rs 1,146.10, while HCC rose 4.75% to close at Rs 14.11.
Lenders which would indirectly benefit from a revival in the capex cycle also gained. Shares of ICICI Bank surged 5.16% to close at Rs 1,201.75.
> Nomura has maintained its ‘Buy’ rating on ITC with a target price of Rs 392 as it views it as a key consumer stock to own into 2014. The stock trades at a P/E multiple of 22.8x on FY15 forward earnings of Rs 13.57.
It believes ITC will deliver higher earnings growth over the next three years versus HUL and hence such a huge discount is unwarranted. Shares of ITC closed at Rs 313 up 0.43%.
> Goldman Sachs has reiterated its ‘Sell’ rating on BHEL as it believes the recent run-up in the shares as unjustified given the deterioration in operating metrics. The stock now trades at 12-month forward P/E of 12x, a 21% discount to its seven-year historical average.
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It expects RoE compression of 1,550bps over FY13-16 estimates. The global investment bank has valued the stock at 8.5X FY15 estimates P/E giving a 12-month target price of Rs 110. Shares of BHEL closed at Rs 171.70, up 0.20%.
> Leading brokerage IDBI Capital has maintained its ‘Hold’ rating on V-Guard with an unchanged price target of Rs 482 as it believes the stock offers limited upside. V-Guard currently trades at 14x PER and 10x EV/EBITDA FY15 estimates. Shares of V-Guard closed at Rs 484.10,up 0.28%.
> Japanese investment bank Nomura has maintained its ‘Buy’ rating on NTPC with a target price of Rs 193. The stock trades at FY15 forward 1.3x P/B and 10.6x P/E. NTPC rose almost 3% to close at Rs 153.25.
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