Professional Documents
Culture Documents
July 5, 2013
Dealers Diary
Indian markets are expected to open in the green today, tracking positive opening
in most of the Asian markets after Europes two biggest central banks signaled
intent to maintain accommodative policy.
Domestic Indices
Markets Today
The trend deciding level for the day is 19,367 / 5,824 levels. If the indices trade
above this level during the first half-an-hour of trade then we may witness a further
rally up to 19,489 19,567 / 5,861 5,886 levels. However, if the indices trade
below 19,367 / 5,824 levels for the first half-an-hour of trade then it may correct
up to 19,289 19,167 / 5,799 5,762 levels.
Indices
SENSEX
NIFTY
S2
19,167
5,762
S1
19,289
5,799
PIVOT
19,367
5,824
R1
19,489
5,861
R2
19,567
5,886
News Analysis
` cr
Purch
Sales
Net
MTD
YTD
FII
MFs
2,418
323
3,004
443
(586)
(120)
619
(426)
71,926
(12,603)
Net
18
302
Open Interest
10,438
26,324
Gainers / Losers
Company
Gainers
Price (`)
chg (%)
UCO Bank
Company
Losers
Price (`)
chg (%)
65
9.2
Ashok Leyland
19
3,531
7.0
MMTC
84
(5.0)
Motherson Sumi
209
5.3
Gitanjali Gems
193
(5.0)
Reliance Cap
359
5.2
Indian Bank
109
(3.5)
BPCL
374
4.8
Hindustan Copper
68
(3.3)
TTK Prestige
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(Close)
1.2
Nifty
1.1
233 19,411
66
5,837
MID CAP
0.6
33
5,981
SMALL CAP
0.2
12
5,677
BSE HC
0.5
49
9,071
BSE PSU
0.0
5,999
BANKEX
0.3
38 13,007
AUTO
0.7
72 10,816
METAL
(0.3)
(22)
7,601
0.8
73
8,785
BSE IT
2.7
166
6,244
Chg (%)
(Pts)
(Close)
Global Indices
Dow Jones
0.4
NASDAQ
0.3
10
3,444
FTSE
3.1
192
6,422
Nikkei
56 14,989
(0.3)
(37) 14,019
Hang Sang
1.6
321 20,469
Straits Times
0.6
18
3,147
Shanghai Com
0.6
12
2,006
Chg (%)
(Pts)
(Close)
0.1
0.0
$40.5
Indian ADR
INFY
WIT
0.1
0.0
$7.3
IBN
(2.8)
(1.1)
$37.2
HDB
(0.5)
(0.2)
$36.0
Advances / Declines
BSE
NSE
Advances
1,194
732
Declines
1,088
609
148
88
Volumes (` cr)
Purch
1,362
2,127
(Pts)
BSE Sensex
Unchanged
` cr
Index Futures
Stock Futures
Chg (%)
(7.7)
BSE
1,865
NSE
10,196
Market Outlook
July 5, 2013
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Market Outlook
July 5, 2013
Corporate News
Essar inks `960cr pact with Harsco to recover iron from slag
Godrej Appliances hikes prices across categories by up to 5%
Tata Power Solar bags NTPC's solar power project in Madhya Pradesh
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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Market Outlook
July 05, 2013
Global economic events release calendar
Date
Time
Unit
Period
Bloomberg Data
Last Reported Estimated
July 5, 2013
Thousands
Jun
175.00
165.00
Jun
7.60
7.50
% Change
May
(0.60)
--
China
% Change
Jun
2.10
2.50
India
Imports YoY%
% Change
Jun
7.00
--
4:29PM
India
Exports YoY%
% Change
Jun
(1.10)
--
4:29PM
China
Exports YoY%
% Change
Jun
1.00
4.00
6:00PM
US
Thousands
Jul 6
343.00
335.00
11:00AM
India
% Change
May
2.30
--
6:00PM
US
% Change
Jun
0.50
0.50
12:00PM
India
% Change
Jun
4.70
--
7:30AM
China
% Change
Jun
9.20
9.10
7:30AM
China
% Change
2Q
7.70
7.60
2:00PM
UK
CPI (YoY)
% Change
Jun
2.70
--
6:00PM
US
% Change
Jun
0.10
--
2:30PM
Jun F
1.60
--
6:45PM
US
Industrial Production
Jun
0.04
--
6:00PM
US
Housing Starts
Thousands
Jun
914.00
--
6:00PM
US
Building permits
Thousands
Jun
985.00
--
% Change
Jun
(8.60)
--
Million
Jun
5.18
--
July 9, 2013
July 10, 2013
6:00PM
US
6:00PM
US
Unnemployment rate
2:00PM
UK
7:00AM
4:29PM
2:00PM
UK
7:30PM
US
7:30PM
Value
Jul A
(18.80)
--
1:00PM
Value
Jul A
50.40
--
1:00PM
Value
Jul A
48.60
--
7:30PM
US
Thousands
Jun
476.00
--
2:00PM
UK
GDP (YoY)
% Change
2Q A
0.30
--
August 1, 2013
August 14, 2013
August 30, 2013
7:30PM
US
Consumer Confidence
S.A./ 1985=100
Jul
81.40
--
11:00AM
India
Jul 30
7.25
--
11:00AM
India
Jul 30
4.00
--
11:00AM
India
Jul 30
6.25
--
1:25PM
Thousands
Jul
(12.00)
--
6:00PM
US
% Change
2Q A
1.80
--
11:30PM
US
Jul 31
0.25
--
6:30AM
China
PMI Manufacturing
Value
Jul
50.10
--
2:00PM
UK
PMI Manufacturing
Value
Jul
52.50
--
11:30AM
% Change
2Q P
(1.40)
--
2:30PM
% Change
2Q A
(0.30)
--
11:00AM
India
% Change
2Q
4.80
--
Market Outlook
July 5, 2013
Macro watch
Exhibit 1: Quarterly GDP trends
(%)
(%)
10.0
11.4
9.2
6.0
4.0
2.0
Apr-13
Jun-12
Mfg. PMI
58.0
7.5
Mar-13
(4.0)
(%)
8.0
(1.0) (0.6)
(0.7)
(2.0)
Services PMI
8.1
7.3
7.3
7.2
7.3
7.3
56.0
5.7
4.9
4.7
54.0
52.0
May-13
Apr-13
Mar-13
Feb-13
Jan-13
Dec-12
Nov-12
Oct-12
Sep-12
Aug-12
Jul-12
Jun-12
May-12
Apr-12
48.0
Mar-12
May-13
Apr-13
Mar-13
Feb-13
Jan-13
Dec-12
Nov-12
Oct-12
Sep-12
Aug-12
50.0
Jul-12
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
(0.1)
May-12
4QFY13
3QFY13
2QFY13
1QFY13
4QFY12
3QFY12
2QFY12
1QFY12
4QFY11
3QFY11
2QFY11
1QFY11
4QFY10
3QFY10
9.0
(2.0)
Jan-13
4.7 4.8
2.3
0.5
Dec-12
3.4
2.5
2.0
Nov-12
6.0
2.5
Oct-12
6.5
Feb-13
7.5
Sep-12
7.7
Aug-12
8.6
8.4
8.0
9.9
Jul-12
9.5
9.3
2QFY10
12.0
11.0
10.0
9.0
8.0
7.0
6.0
5.0
4.0
3.0
(%)
9.00
15.0
CRR
8.00
7.00
6.00
May-13
Apr-13
Mar-13
Feb-13
Jan-13
Dec-12
Nov-12
Oct-12
Sep-12
Aug-12
Jul-12
Jun-12
0.0
5.00
4.00
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Jun-13
May-13
Apr-13
Mar-13
Feb-13
Jan-13
Dec-12
Nov-12
Oct-12
Sep-12
Aug-12
(15.0)
Jul-12
3.00
Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
( )
Price ( )
( cr )
Sales ( cr )
FY14E
OPM(%)
EPS ( )
FY15E
FY14E
FY15E
FY14E
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
Neutral
143
2,777
1,657
1,906
14.1
14.1
7.7
8.9
18.6
16.0
3.9
3.3
22.2
21.9
1.6
1.4
United Phosphorus
Buy
135
232
5,953
10,298
11,310
16.5
16.5
20.5
23.2
6.6
5.8
1.1
0.9
18.0
17.4
0.6
0.5
Neutral
276
4,709
3,418
3,892
14.5
14.5
18.5
20.4
14.9
13.5
3.6
2.9
26.6
23.8
1.4
1.2
Apollo Tyres
Neutral
61
3,072
13,852
15,487
11.4
11.5
12.8
14.9
4.8
4.1
0.8
0.7
17.5
17.3
0.4
0.3
Ashok Leyland
Buy
19
27
4,949
14,038
16,442
7.6
8.7
1.1
2.2
17.8
8.3
1.5
1.4
6.2
12.5
0.4
0.4
Automotive Axle#
Neutral
216
326
834
965
9.3
10.6
17.3
27.1
12.5
8.0
1.2
1.1
9.5
14.0
0.5
0.4
Bajaj Auto
Accumulate
1,876
2,096
54,294
23,005
26,460
18.0
18.5
118.8
139.7
15.8
13.4
5.7
4.5
40.4
37.7
2.0
1.6
Bharat Forge
Neutral
215
5,004
6,198
6,793
14.6
14.9
14.5
17.3
14.8
12.4
1.9
1.7
13.6
14.7
0.9
0.8
Bosch India*
Accumulate
8,660
9,213
27,192
9,821
11,394
17.0
17.3
373.5
438.7
23.2
19.7
4.2
3.5
18.0
17.9
2.5
2.1
CEAT
Buy
106
170
362
5,325
5,974
8.4
8.3
40.8
48.5
2.6
2.2
0.4
0.4
17.3
17.6
0.2
0.2
Exide Industries
Buy
122
141
10,336
7,053
8,061
14.2
14.5
7.8
9.1
15.5
13.3
2.6
2.3
18.1
18.2
1.2
1.0
FAG Bearings*
Neutral
1,423
2,365
1,525
1,742
14.5
15.7
88.4
109.5
16.1
13.0
2.3
2.0
15.5
16.5
1.4
1.2
Hero Motocorp
Accumulate
1,655
1,820
33,042
25,298
27,665
14.1
13.7
110.3
140.0
15.0
11.8
5.5
4.3
39.9
40.7
1.1
1.0
JK Tyre
Buy
103
154
422
7,972
8,754
7.1
7.1
37.5
44.0
2.7
2.3
0.4
0.4
16.4
16.6
0.3
0.3
982
1,103
60,462
45,254
51,197
11.4
11.7
61.2
70.2
16.0
14.0
3.4
2.8
22.7
21.9
1.1
0.9
1,559
1,822
47,091
47,923
55,002
11.2
10.9
106.6
121.4
14.6
12.8
2.2
1.9
16.1
15.8
0.8
0.7
209
222
12,304
28,442
31,493
7.5
7.8
12.5
14.8
16.7
14.2
4.1
3.3
27.5
25.8
0.6
0.5
Buy
22
27
130
1,426
1,624
10.0
9.9
4.9
6.8
4.4
3.2
0.4
0.4
10.0
12.7
0.4
0.3
Tata Motors
Buy
292
347
13.3
13.6
36.2
41.5
8.1
7.1
1.8
1.5
24.6
23.2
0.4
0.4
TVS Motor
Accumulate
33
35
1,558
7,715
8,584
6.0
6.1
5.0
5.8
6.6
5.7
1.1
1.0
18.1
18.5
0.1
0.1
Maruti
Buy
Motherson Sumi
Accumulate
Subros
Capital Goods
ABB*
Sell
601
461
12,745
8,073
9,052
5.5
6.9
11.5
16.9
52.2
35.5
4.8
4.6
9.3
13.1
1.5
1.3
BGR Energy
Accumulate
127
140
915
3,756
4,569
11.4
9.7
21.7
24.1
5.9
5.3
0.7
0.6
22.3
20.3
0.6
0.5
BHEL
Neutral
175
42,906
44,054
39,326
16.8
15.1
20.6
16.1
8.5
10.9
1.9
1.7
23.5
16.1
0.9
0.9
Blue Star
Buy
159
230
1,426
2,896
3,087
5.6
6.2
9.3
11.7
17.0
13.5
2.8
2.4
17.6
19.2
0.6
0.5
Crompton Greaves
Buy
89
117
5,680
13,446
15,272
6.7
7.6
6.6
8.9
13.4
10.0
1.5
1.3
11.4
14.0
0.5
0.5
Jyoti Structures
Neutral
21
171
3,360
3,597
9.7
9.8
7.3
10.2
2.8
2.0
0.6
0.5
8.8
11.4
0.3
0.3
KEC International
Buy
33
49
841
7,709
8,399
6.7
7.2
6.1
8.5
5.4
3.8
0.7
0.6
20.2
23.0
0.3
0.3
Thermax
Neutral
592
7,053
5,780
6,430
9.5
9.6
29.8
33.0
19.9
17.9
3.3
2.9
17.9
17.4
1.0
0.9
1,237
1,361
23,228
11,820
13,254
19.3
20.9
74.9
93.1
16.5
13.3
2.9
2.6
18.1
20.3
1.7
1.4
Cement
ACC
Accumulate
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Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( cr )
OPM(%)
EPS ( )
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
( )
Price ( )
( cr )
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
Cement
Ambuja Cements
Neutral
188
29,000
10,171
11,762
23.5
24.6
10.2
12.2
18.4
15.4
3.0
2.8
17.1
18.7
2.3
1.9
India Cements
Neutral
56
1,725
4,929
5,434
17.4
17.1
8.9
10.9
6.3
5.2
0.5
0.5
7.7
9.1
0.7
0.6
J K Lakshmi Cement
Buy
93
143
1,093
2,247
2,742
21.0
23.1
17.8
21.8
5.2
4.3
0.8
0.7
15.5
16.4
0.4
0.8
Madras Cements
Neutral
213
5,069
4,234
4,788
23.9
24.0
18.5
22.8
11.5
9.4
1.8
1.6
17.2
18.2
1.6
1.3
Shree Cement^
Neutral
4,562
15,894
6,607
7,520
27.5
26.7
322.8
374.3
14.1
12.2
3.5
2.8
27.8
25.6
1.8
1.3
UltraTech Cement
Neutral
1,901
52,132
21,947
25,049
23.8
23.8
106.1
119.8
17.9
15.9
3.0
2.6
17.7
17.3
2.4
2.1
63
84
666
1,928
2,234
21.0
21.5
6.0
7.4
10.6
8.6
0.9
0.9
10.5
10.8
1.7
1.7
174
1,715
1,824
2.4
6.2
(2.9)
(0.4)
(3.2)
(26.0)
0.4
0.4
0.5
0.5
Construction
Ashoka Buildcon
Buy
Consolidated Co
Neutral
IRB Infra
Buy
95
157
3,164
3,997
4,312
45.5
46.4
15.7
16.6
6.1
5.7
0.9
0.8
15.2
14.5
3.2
3.5
ITNL
Buy
144
230
2,788
7,444
8,041
27.4
28.9
29.8
32.1
4.8
4.5
0.7
0.6
14.9
14.2
2.5
2.5
IVRCL Infra
Buy
16
29
491
5,673
5,892
8.1
8.4
1.4
1.8
11.1
8.7
0.2
0.2
2.0
2.6
0.5
0.5
Jaiprakash Asso.
Buy
52
90
11,628
14,850
15,631
24.9
25.1
2.5
2.9
20.7
18.4
0.8
0.8
4.2
4.7
2.6
2.5
Buy
1,403
1,761
86,444
68,946
78,040
10.5
10.5
77.9
88.3
18.0
15.9
2.6
2.3
15.5
15.6
1.4
1.2
Nagarjuna Const.
Buy
27
42
690
6,167
6,945
8.0
8.2
2.7
3.6
10.1
7.4
0.3
0.3
2.7
3.6
0.5
0.4
Punj Lloyd
Neutral
32
1,074
12,954
14,740
9.9
9.9
0.5
0.9
63.7
34.7
0.4
0.4
0.6
1.1
0.5
0.5
Sadbhav Engg.
Buy
92
139
1,383
2,462
2,731
10.6
10.6
5.9
6.7
15.6
13.8
1.5
1.4
10.2
10.5
0.9
0.8
Simplex Infra
Buy
84
131
416
6,308
7,033
9.5
9.6
11.9
18.7
7.1
4.5
0.3
0.3
4.5
6.7
0.5
0.5
Unity Infra
Buy
26
41
190
2,146
2,339
13.7
13.8
11.0
11.5
2.3
2.2
0.2
0.2
9.3
9.0
0.6
0.6
Allahabad Bank
Buy
88
123
4,405
6,705
7,535
2.5
2.5
27.6
33.2
3.2
2.7
0.5
0.4
12.5
13.6
Andhra Bank
Neutral
83
4,625
5,195
5,834
2.7
2.7
19.2
23.1
4.3
3.6
0.6
0.5
12.2
13.3
Axis Bank
Buy
1,266
1,778
59,369
19,237
23,261
3.2
3.2
133.8
161.5
9.5
7.8
1.6
1.4
17.6
18.5
Bank of Baroda
Buy
547
761
23,057
16,287
18,707
2.2
2.3
120.6
144.6
4.5
3.8
0.7
0.6
15.0
16.0
Bank of India
Buy
225
270
13,378
14,459
16,176
2.3
2.2
55.2
68.2
4.1
3.3
0.6
0.5
13.7
15.1
Bank of Maharashtra
Buy
50
61
3,321
4,291
4,724
3.0
3.0
12.1
12.9
4.2
3.9
0.6
0.6
16.2
15.3
Canara Bank
Buy
347
422
15,350
12,045
13,495
2.1
2.2
76.7
86.4
4.5
4.0
0.7
0.6
14.1
14.2
Central Bank
Accumulate
61
69
6,372
8,406
9,546
2.5
2.5
12.6
18.7
4.9
3.3
0.6
0.5
10.6
14.3
Corporation Bank
Buy
351
436
5,360
5,554
6,156
2.0
2.0
94.9
104.9
3.7
3.3
0.5
0.5
14.3
14.2
Dena Bank
Accumulate
69
79
2,401
3,255
3,623
2.3
2.4
22.0
24.9
3.1
2.8
0.5
0.4
14.8
14.8
Federal Bank
Accumulate
401
455
6,861
2,802
3,274
2.9
2.9
49.8
56.6
8.1
7.1
1.0
0.9
12.7
13.1
Financials
www.angelbroking.com
Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
( )
Price ( )
( cr )
Sales ( cr )
OPM(%)
EPS ( )
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
Financials
HDFC
Accumulate
852
904
132,357
8,573
10,142
3.6
3.6
37.0
43.6
23.0
19.5
4.7
4.2
30.0
30.3
HDFC Bank
Accumulate
655
752
156,558
27,560
33,766
4.6
4.6
36.3
45.1
18.1
14.6
3.6
3.1
21.9
22.8
ICICI Bank
Buy
1,064
1,454
122,791
26,119
30,474
3.1
3.2
86.2
99.5
12.4
10.7
1.7
1.5
15.7
16.2
IDBI Bank
Accumulate
71
80
9,509
9,416
10,392
2.0
2.0
19.8
22.8
3.6
3.1
0.5
0.4
12.9
13.5
Indian Bank
Buy
109
141
4,684
6,077
6,845
2.9
2.9
35.2
41.0
3.1
2.7
0.4
0.4
14.2
14.8
IOB
Accumulate
49
53
4,496
8,027
9,204
2.4
2.6
12.5
19.7
3.9
2.5
0.4
0.3
9.1
13.0
J & K Bank
Accumulate
1,224
1,315
5,932
3,101
3,426
3.6
3.6
215.5
210.2
5.7
5.8
1.1
0.9
19.9
16.9
Buy
236
298
11,923
2,113
2,525
2.3
2.3
25.4
29.2
9.3
8.1
1.6
1.4
18.4
18.3
Oriental Bank
Buy
201
236
5,854
6,790
7,676
2.6
2.7
55.7
62.3
3.6
3.2
0.5
0.4
12.9
13.1
Punjab Natl.Bank
Buy
620
883
21,908
20,914
23,879
3.3
3.4
152.4
176.2
4.1
3.5
0.7
0.6
16.2
16.5
South Ind.Bank
Accumulate
23
24
3,083
1,795
2,054
2.8
2.8
4.0
4.3
5.8
5.3
1.0
0.9
17.2
16.5
St Bk of India
Buy
1,901
2,518
130,066
66,417
76,734
3.0
3.0
227.4
284.8
8.4
6.7
1.2
1.1
15.4
17.1
Syndicate Bank
Buy
110
136
6,621
7,125
8,188
2.6
2.6
27.4
27.9
4.0
4.0
0.6
0.6
16.2
14.6
UCO Bank
Neutral
65
4,900
6,545
6,859
2.7
2.6
14.8
15.7
4.4
4.1
0.8
0.7
14.4
13.6
Union Bank
Buy
173
243
10,351
11,101
12,543
2.6
2.6
39.3
47.4
4.4
3.7
0.6
0.5
14.1
15.2
United Bank
Buy
47
57
1,763
3,386
3,884
2.3
2.5
12.4
20.0
3.8
2.4
0.4
0.4
10.1
14.8
Vijaya Bank
Accumulate
44
49
2,200
2,714
3,046
1.9
2.0
9.2
10.8
4.8
4.1
0.5
0.5
10.7
11.6
Yes Bank
Neutral
470
16,885
4,451
5,526
2.8
2.8
43.0
49.7
10.9
9.5
2.4
2.0
23.9
22.8
Asian Paints
Neutral
4,564
43,782
12,332
14,524
16.5
16.3
141.6
162.7
32.3
28.1
10.2
8.1
35.4
32.2
3.4
2.9
Britannia
Neutral
687
8,220
6,417
7,502
6.1
6.3
21.3
25.5
32.3
27.0
10.5
8.4
35.7
34.6
1.3
1.1
Colgate
Neutral
1,355
18,426
3,588
4,130
20.5
20.9
44.2
51.8
30.7
26.2
29.9
21.8
108.6
96.2
5.0
4.3
Dabur India
Neutral
159
27,660
7,183
8,340
16.8
16.8
5.4
6.3
29.6
25.2
11.5
9.0
41.5
40.1
3.8
3.2
GlaxoSmith Con*
Neutral
5,551
23,347
3,617
4,259
16.1
16.4
122.2
148.7
45.4
37.4
14.1
11.4
34.1
33.7
6.0
5.0
Godrej Consumer
Neutral
810
27,565
7,801
9,017
16.2
15.9
25.1
29.7
32.2
27.3
6.9
5.8
24.9
24.2
3.7
3.1
HUL
Neutral
601
129,911
29,167
33,164
13.6
13.7
17.1
18.4
35.2
32.7
33.8
24.5
113.4
87.0
4.3
3.8
ITC
Neutral
339
267,477
34,294
39,991
36.8
37.0
11.3
13.3
30.0
25.4
9.9
8.0
36.1
34.9
7.5
6.3
Marico
Neutral
209
13,464
5,273
6,044
14.8
14.9
7.3
8.7
28.8
24.1
5.6
4.6
21.4
21.0
2.6
2.2
Nestle*
Neutral
5,122
49,386
9,447
10,968
22.1
22.3
127.5
154.1
40.2
33.2
20.1
14.5
57.7
50.7
5.3
4.5
Tata Global
Neutral
144
8,874
8,069
8,957
9.8
9.7
7.8
8.6
18.3
16.7
2.2
2.1
9.5
9.7
1.1
0.9
FMCG
www.angelbroking.com
Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( cr )
OPM(%)
EPS ( )
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
( )
Price ( )
( cr )
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
799
870
55,669
29,424
32,837
22.6
22.0
59.5
63.3
13.4
12.6
3.3
2.7
24.6
21.7
1.7
1.5
91
105
2,718
2,158
2,374
19.6
19.8
10.7
11.7
8.5
7.8
1.9
1.7
23.0
22.3
1.1
1.0
IT
HCL Tech^
Accumulate
Hexaware*
Buy
Infosys
Neutral
2,461
141,291
45,153
48,993
27.6
26.8
170.7
187.5
14.4
13.1
3.0
2.6
20.8
19.5
2.5
2.2
Infotech Enterprises
Accumulate
177
190
1,978
2,037
2,254
17.9
17.7
21.2
22.6
8.4
7.8
1.3
1.1
15.2
14.1
0.6
0.5
KPIT Cummins
Buy
120
144
2,317
2,614
2,923
17.2
16.8
13.2
14.4
9.1
8.3
1.6
1.4
18.5
16.7
0.8
0.7
Mahindra Satyam
Buy
115
135
13,576
8,590
9,324
20.9
20.6
10.9
11.7
10.6
9.9
2.5
2.0
23.7
20.3
1.2
1.0
Mindtree
Accumulate
826
925
3,433
2,707
2,978
20.3
20.2
87.4
97.0
9.5
8.5
2.0
1.6
21.8
19.5
1.0
0.8
Mphasis&
Accumulate
372
391
7,809
6,372
6,852
18.0
18.2
38.0
43.5
9.8
8.5
1.4
1.2
14.3
14.2
0.7
0.6
NIIT
Buy
18
30
305
1,144
1,267
9.0
9.1
4.3
5.4
4.3
3.4
0.4
0.4
10.3
12.0
0.1
Persistent
Buy
491
565
1,963
1,505
1,677
25.9
26.2
53.6
59.7
9.2
8.2
1.6
1.4
17.7
16.7
0.9
0.7
TCS
Accumulate
1,534
1,640
300,267
74,795
84,926
28.8
28.7
82.2
91.5
18.7
16.8
5.8
4.7
30.8
28.1
3.8
3.3
Tech Mahindra
Buy
1,030
1,250
13,269
8,102
8,709
19.7
19.2
93.7
101.5
11.0
10.2
2.0
1.7
21.2
18.9
1.6
1.4
Wipro
Accumulate
351
389
86,419
41,659
45,137
21.2
21.4
27.7
29.9
12.7
11.7
2.6
2.2
20.5
19.0
1.6
1.3
D B Corp
Buy
237
290
4,352
1,750
1,925
25.1
26.6
14.2
16.8
16.7
14.1
3.6
3.1
23.4
23.4
2.4
2.1
HT Media
Buy
95
117
2,223
2,205
2,380
15.1
15.6
8.3
9.1
11.4
10.4
1.3
1.1
11.5
11.4
0.7
0.5
Jagran Prakashan
Buy
81
107
2,688
1,664
1,825
20.9
23.0
6.4
7.8
12.6
10.4
2.6
2.3
21.0
23.1
1.7
1.6
PVR
Neutral
330
1,306
1,359
1,540
17.3
17.4
17.2
21.6
19.1
15.3
1.9
1.8
10.3
12.0
1.4
1.2
Sun TV Network
Neutral
386
15,204
2,287
2,551
69.7
70.5
20.0
23.3
19.3
16.6
4.8
4.2
26.4
27.3
6.3
5.5
Bhushan Steel
Neutral
461
10,449
13,794
17,088
30.9
33.5
49.3
66.6
9.4
6.9
1.0
0.9
11.3
13.5
2.4
1.9
Coal India
Buy
299
345
188,922
72,174
76,311
33.3
28.4
28.4
30.9
10.5
9.7
2.9
2.5
37.6
36.2
1.8
1.6
Electrosteel Castings
Buy
13
18
423
1,976
2,017
11.8
12.7
1.3
2.6
10.3
5.0
0.1
0.1
2.6
5.2
0.5
0.1
GMDC
Buy
115
193
3,657
1,920
2,239
53.2
52.9
21.6
25.0
5.3
4.6
1.2
1.0
25.1
23.8
1.4
1.0
Hind. Zinc
Buy
102
145
42,908
12,358
13,659
51.4
51.6
16.0
17.6
6.3
5.8
1.1
1.0
19.4
18.4
1.2
0.7
Hindalco
Neutral
100
19,136
89,352
93,672
8.8
9.2
13.4
15.0
7.5
6.7
0.5
0.5
7.3
7.6
0.6
0.5
JSW Steel
Neutral
612
14,793
47,613
48,385
17.4
18.8
81.8
109.6
7.5
5.6
0.8
0.7
11.1
13.4
0.6
0.5
MOIL
Buy
194
248
3,259
1,010
1,046
46.5
47.6
26.8
28.8
7.2
6.7
1.1
0.9
15.4
14.7
0.8
0.6
Monnet Ispat
Buy
125
193
794
2,326
2,709
21.4
23.1
33.3
43.1
3.7
2.9
0.3
0.3
8.3
9.9
1.4
1.0
Nalco
Neutral
29
7,590
7,656
7,988
13.1
13.5
2.6
2.6
11.5
11.2
0.6
0.6
5.5
5.5
0.4
0.4
NMDC
Buy
101
156
40,083
10,461
11,892
71.6
72.6
16.3
17.6
6.2
5.8
1.3
1.2
22.1
21.4
2.0
1.8
Media
www.angelbroking.com
Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( cr )
( )
Price ( )
( cr )
FY14E
FY15E
OPM(%)
EPS ( )
FY14E
FY15E
FY14E
PER(x)
P/BV(x)
RoE(%)
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
EV/Sales(x)
FY15E
FY14E
FY15E
Neutral
Sesa Goa
Buy
48
19,969
44,060
54,786
9.4
11.5
5.2
7.2
9.3
6.8
0.5
0.5
5.2
6.8
0.7
0.6
142
166
12,354
3,742
4,426
32.9
32.8
30.0
29.8
4.7
4.8
0.6
0.6
14.3
12.5
4.1
3.4
Sterlite Inds
Tata Steel
Buy
83
100
28,011
44,462
45,568
23.2
24.7
18.1
20.2
4.6
4.1
0.5
0.5
11.3
11.4
0.6
0.5
Buy
265
378
9.7
10.8
30.9
47.6
8.6
5.6
0.8
0.7
9.6
13.4
0.6
0.5
Sarda
Buy
94
153
336
1,494
1,568
19.1
20.3
31.3
36.5
3.0
2.6
0.3
0.3
11.8
12.4
0.6
0.5
Prakash Industries
Godawari Power and
Ispat
Oil & Gas
Buy
30
40
402
2,615
2,776
12.1
12.0
9.8
10.4
3.1
2.9
0.2
0.2
6.5
6.5
0.4
0.4
Buy
75
102
244
2,344
2,509
14.9
15.4
38.7
47.0
1.9
1.6
0.2
0.2
12.3
12.9
0.5
0.4
Cairn India
Buy
293
345
55,943
16,482
16,228
69.4
53.3
53.3
49.6
5.5
5.9
0.9
0.8
16.5
13.6
2.0
1.7
GAIL
Neutral
333
42,177
52,102
52,876
15.7
16.1
34.1
35.7
9.8
9.3
1.5
1.3
16.4
15.3
0.3
0.2
ONGC
Buy
309
387
36.3
38.3
34.7
41.9
8.9
7.4
1.5
1.3
18.3
19.5
1.3
0.9
Reliance Industries
Neutral
862
9.4
8.6
75.0
76.4
11.5
11.3
1.2
1.1
12.4
11.4
0.7
0.6
Gujarat Gas*
Neutral
207
2,660
3,707
3,850
11.7
12.4
23.7
25.7
8.8
8.1
2.4
2.1
29.6
28.2
0.6
0.5
Indraprastha Gas
Neutral
283
3,962
3,700
4,218
23.4
22.8
26.7
30.4
10.6
9.3
2.2
1.9
22.7
21.8
1.1
0.9
Petronet LNG
Gujarat State Petronet
Ltd.
Pharmaceuticals
Buy
124
167
9,334
40,356
40,872
5.8
6.4
15.0
16.7
8.3
7.4
1.7
1.5
23.0
21.5
0.3
0.3
Neutral
56
3,174
1,171
1,287
91.9
91.9
10.1
11.3
5.6
5.0
0.9
0.8
17.3
16.8
Alembic Pharma
Neutral
141
2,651
1,736
2,008
17.1
18.9
10.7
13.9
13.1
10.1
4.1
3.1
35.0
34.7
1.6
1.3
Aurobindo Pharma
Buy
185
271
5,398
6,641
7,637
15.9
15.9
17.3
20.6
10.7
9.0
1.7
1.4
19.5
18.9
1.3
1.1
Aventis*
Neutral
2,488
5,730
1,682
1,917
16.6
16.6
92.4
99.1
26.9
25.1
3.8
3.8
15.7
14.8
3.0
2.5
Cadila Healthcare
Buy
781
929
15,994
7,280
8,640
15.5
15.7
38.3
46.5
20.4
16.8
4.4
3.6
23.5
23.5
2.5
2.1
Cipla
Buy
395
477
31,683
9,274
10,796
23.1
23.1
21.0
23.8
18.8
16.6
3.0
2.6
17.2
16.8
3.2
2.6
Dr Reddy's
Accumulate
2,226
2,535
37,836
13,377
15,350
20.4
20.1
112.3
126.8
19.8
17.6
4.2
3.5
23.5
21.8
2.9
2.5
Dishman Pharma
Buy
GSK Pharma*
Neutral
Indoco Remedies
Buy
Ipca labs
55
168
443
1,394
1,534
22.5
22.4
15.0
16.8
3.7
3.3
0.4
0.4
11.0
11.2
0.9
0.8
2,613
22,135
2,854
3,145
28.6
28.6
76.6
83.3
34.1
31.4
10.2
9.3
31.1
31.0
6.9
6.2
62
78
575
760
922
15.3
15.3
6.1
7.8
10.2
8.0
1.3
1.1
12.9
14.7
1.0
0.8
Neutral
683
8,622
3,243
3,826
20.5
21.5
36.0
44.4
19.0
15.4
4.4
3.5
26.0
25.4
2.8
2.4
Lupin
Neutral
851
38,089
11,641
13,933
21.3
21.3
34.8
41.8
24.5
20.4
5.7
4.5
26.2
24.8
3.3
2.7
Ranbaxy*
Accumulate
336
384
14,206
11,400
12,060
10.5
12.5
17.5
22.5
19.2
14.9
3.1
2.7
17.0
19.1
1.2
1.1
Sun Pharma
Neutral
1,031
106,557
13,509
15,846
41.0
41.0
33.0
39.8
31.2
25.9
6.3
5.2
22.0
22.0
7.3
6.1
67
78
1,016
1,444
1,482
33.4
33.0
13.7
14.8
4.9
4.5
0.6
0.5
12.3
12.0
0.8
0.5
Power
GIPCL
Buy
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Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( cr )
OPM(%)
EPS ( )
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
( )
Price ( )
( cr )
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
Accumulate
144
163
118,693
76,734
86,680
24.5
24.3
13.4
14.5
10.7
9.9
1.3
1.2
12.8
12.7
2.2
2.1
DLF
Buy
179
236
31,795
8,293
9,622
36.5
36.1
5.7
6.7
31.3
26.5
1.1
1.1
3.7
4.1
5.9
5.0
MLIFE
Accumulate
422
476
1,723
888
1,002
30.6
30.6
38.8
43.4
10.9
9.7
1.2
1.1
11.2
11.4
2.5
2.2
Bharti Airtel
Accumulate
301
321
120,422
85,489
94,229
31.9
31.9
10.2
14.6
29.5
20.6
2.1
1.9
7.2
9.4
2.1
1.8
Idea Cellular
Neutral
142
47,031
25,640
28,459
26.9
27.2
4.0
4.9
35.4
28.7
3.0
2.7
8.4
9.4
2.2
2.0
Rcom
Neutral
134
27,679
22,751
24,628
30.9
31.3
3.4
5.3
39.1
25.5
0.8
0.8
2.1
3.1
2.8
2.5
11.8
12.4
71.2
83.0
20.1
17.3
4.0
3.4
21.6
21.5
1.4
1.1
Power
NTPC
Real Estate
Telecom
Others
Abbott India*
Buy
1,433
1,659
3,046
1,863
2,081
Bajaj Electricals
Buy
177
237
1,767
3,885
4,472
5.4
7.2
11.0
19.7
16.2
9.0
2.2
1.8
13.5
20.3
0.5
0.4
Cera Sanitaryware
Accumulate
499
562
631
630
795
14.4
13.6
42.8
51.1
11.7
9.8
2.8
2.2
26.6
25.2
1.0
0.8
Cravatex
Buy
305
459
79
248
284
6.5
7.3
27.2
38.2
11.2
8.0
1.8
1.5
15.7
18.5
0.5
0.4
Finolex Cables
Buy
53
68
813
2,563
2,899
9.8
9.8
10.1
11.3
5.3
4.7
0.8
0.7
14.3
13.8
0.2
0.2
Force Motors
Buy
273
437
356
2,304
2,649
3.1
3.6
28.0
43.7
9.8
6.3
0.3
0.3
3.1
4.7
0.1
0.1
Goodyear India*
Accumulate
300
345
693
1,458
1,542
8.3
9.0
32.3
37.0
9.3
8.1
1.7
1.5
19.5
19.3
0.3
0.2
Hitachi
Buy
120
177
327
1,053
1,169
6.3
7.1
13.8
17.7
8.7
6.8
1.2
1.1
15.0
16.7
0.3
0.3
2,390
2,113
1,842
2,131
7.7
7.8
112.4
132.4
21.3
18.1
2.7
2.4
13.3
13.8
1.0
0.9
Buy
144
198
130
495
651
12.7
12.9
29.3
39.5
4.9
3.7
0.7
0.6
15.4
17.6
0.4
0.3
ITD Cementation
Buy
149
234
172
1,430
1,573
11.1
11.0
19.1
26.9
7.8
5.6
0.4
0.4
5.4
7.1
0.5
0.5
Jyothy Laboratories
Accumulate
182
199
3,018
1,220
1,476
13.3
13.6
5.5
9.0
33.0
20.1
3.8
3.4
12.1
17.7
2.8
2.2
MRF
Buy
12,416
14,416
5,266
11,799
12,587
14.1
6.9
6.9
1.5
1.2
23.5
19.2
0.5
0.5
Page Industries
Accumulate
4,332
4,611
4,831
1,057
1,282
19.4
19.6
124.8
153.7
34.7
28.2
17.2
12.7
56.3
51.8
4.7
3.8
Relaxo Footwears
Neutral
790
948
1,146
1,333
10.9
11.4
45.9
60.9
17.2
13.0
3.6
2.9
23.0
24.6
1.0
0.8
Buy
230
343
215
1,158
1,322
11.9
11.9
72.9
85.7
3.2
2.7
0.6
0.5
19.9
19.6
0.4
0.4
Buy
395
617
695
1,068
1,223
9.6
9.6
38.1
44.1
10.4
9.0
1.4
1.2
14.5
14.7
0.6
0.5
TAJ GVK
Buy
60
108
373
300
319
35.8
36.2
7.9
9.1
7.5
6.5
1.0
0.9
13.9
14.4
1.6
1.3
Buy
271
371
418
814
849
17.0
17.6
64.6
69.2
4.2
3.9
0.6
0.5
14.5
13.8
0.1
(0.1)
TTK Healthcare
Buy
513
686
399
435
516
6.2
7.1
24.3
33.3
21.1
15.4
3.5
3.0
17.6
20.8
0.8
0.6
Tree House
Accumulate
259
297
930
153
194
53.0
52.8
12.4
15.6
20.9
16.5
2.5
2.2
11.8
13.1
6.3
4.8
TVS Srichakra
Buy
174
230
133
1,591
1,720
6.1
6.4
24.5
38.3
7.1
4.6
0.8
0.7
10.9
15.9
0.3
0.3
United Spirits
Neutral
2,556
37,149
12,294
14,162
12.0
12.0
42.1
67.7
60.7
37.8
4.3
3.9
9.1
10.7
3.4
2.9
www.angelbroking.com
Market Outlook
July 05, 2013
Stock Watch
Company Name
Reco
CMP
Target
Mkt Cap
Sales ( cr )
OPM(%)
EPS ( )
PER(x)
P/BV(x)
RoE(%)
EV/Sales(x)
( )
Price ( )
( cr )
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
FY14E
FY15E
365
439
741
600
638
20.1
19.4
35.7
36.6
10.2
10.0
1.8
1.6
19.4
17.1
1.0
0.9
Others
Vesuvius India*
Buy
Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on July 04, 2013
www.angelbroking.com
Market Outlook
July 05, 2013
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