Good morning!

The domestic stock market on Thursday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 25.50 points lower this morning, signalling a weak start for Dalal Street.

As you head for the day’s trade, here is a compilation of overnight analyst calls on various stocks.

• JM Financial has maintained its “buy” rating on
V Guard at a target price of Rs 265. According to the brokerage, the company posted 5 per cent revenue growth led by its consumer durables segment, which grew 10 per cent year-on-year. The gross margin expanded 320 basis points (bps) due to improved product mix, price increases and benign raw material costs. Slower than expected recovery is the biggest risk, the brokerage said. Shares of V Guard closed at Rs 215, down 0.2 per cent.

• Prabhudas Lilladher maintained its buy rating on
Triveni Turbines with a target price of Rs 130. According to the brokerage, Triveni reported a steady set of numbers in the third quarter which were largely in line with estimates. However, the company’s revenue was down 4 per cent year-on-year. But, exports grew 14 per cent which was offset by de-growth in domestic markets by 15 per cent. On the domestic front, both renewable energy and process co-generation segments have strong enquiry pipeline. Shares of Triveni closed at Rs 94.8, down 1.7 per cent.

• HDFC Securities has maintained its buy rating on
Galaxy Surfactants with a target price of Rs 1,811. Although Galaxy’s performed moderately in the third quarter, we maintain our rating due to its loyal customer base, stable margins profile and healthy return ratios. The brokerage remains constructive on the company as 55 per cent of the company’s revenues come from multinational companies which ensures stickiness of business and stable margins. Shares if Galaxy closed at Rs 1,590, down 0.63 per cent.

• Motilal Oswal Securities has maintained its buy rating on
Bharat Electronics with a target price of Rs 115. The third quarter earnings of the company were impacted by the weak operating performance. While revenue was in line, the major disappointment was on the Ebitda margin, the brokerage said, adding the company’s order book remains strong. Shares of Bharat Electronics closed at Rs 87,up 2.7 per cent.

• ICICI Direct has maintained its buy rating on
Titan with a target price of Rs 1,470. The brokerage said after a significant decline in grammage growth seen in the second quarter, a reasonably strong festive season and healthy demand for wedding jewellery led to arrest of grammage de-growth in third quarter. The brokerage expects Titan to be a key beneficiary as India’s gold market continues to strive towards regulation and standardisation. Shares of Titan closed at Rs 1,276, up 0.07 per cent.





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