Brokerage: HSBC | Rating: Buy | Target: Rs 460
HSBC highlighted that Tech Mahindra’s management remains highly focused on
improving profitability in near-term. Additionally, it said that a recovery in telecom cycle may help the company outperform over next 2-3 years. Further, it sees a likely pick up in operating earnings in FY19 after 4-5 years of no growth. It also tweaked 2018 earnings on significant hedging gains reported by the company in Q1.
Jain Irrigation
Brokerage: KRChoksey | Rating: Initiate coverage with buy call | Target: Rs 162
The brokerage said that rising MIS opportunity may lift the company’s performance in Maharashtra and other states. It also expects standalone MIS business revenue to rise at a CAGR of over 26% from FY17-19.
CESC
Brokerage: IIFL | Rating: Buy | Target: Rs 1,270
IIFL said that the company was on track to demerge its businesses into four verticals. Further, it expects regulatory approvals to come through by Q1, issuance of shares by Q1 and sees the valuation for power business to improve significantly post the demerger. IIFL also expects a market capitalisation of existing entity at Rs 21,600 crore in the bull case scenario post demerger.
Brokerage: HSBC | Rating: Buy | Target: Rs 460
improving profitability in near-term. Additionally, it said that a recovery in telecom cycle may help the company outperform over next 2-3 years. Further, it sees a likely pick up in operating earnings in FY19 after 4-5 years of no growth. It also tweaked 2018 earnings on significant hedging gains reported by the company in Q1.
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