	OR

Email Id:	*(Required)
Password:
	Remember Me	Reset Password?
	Note: Please enter emailid to receive instructions to reset password.

	Not A Member Yet ?

Newgen Software Technolog (Initiating Coverage)

Buy

At Price: Rs 263

Target: Rs 500

Research Report -- Equity99

Newgen Software Technologies is strengthening its global presence. It has witnessed broad-based growth on a y-o-y basis in APAC at 47 per cent, EMEA at 45 per cent, the US at 7 per cent and India at 7 per cent. Newgen has added 120 new customers during FY18 compared to 98 in FY17. Total active customers were 520+ as of FY18. Banking & financial services vertical continued to be a stronghold witnessing 36 per cent y-o-y growth while revenue from emerging verticals such as healthcare and insurance witnessed a growth of 81 per cent and 6 per cent respectively. Newgen is currently trading at 22.9x FY18 P/E, which is reasonable in our view, given strong growth prospects. It has healthy balance sheet & scalable business model. Company continues to strengthen the horizontal product platform with vertical service accelerators. We strongly believe Newgen can drive innovation and adopting solutions in line with rapidly evolving technological trends. Considering the above, along with the growth drivers; we recommend a strong ‘buy’ to our investors with a target price of ₹500 with duration of 18-24 months.

More..

Report Date May 25, 2018

TTK Healthcare (Company Update)

Buy

At Price: Rs 930

Target: Rs 1090

Positional Call -- Rudra Shares & Stock Brokers Ltd.

Company's consumer product division and food division should propel growth for the future as it has few plans to introduce new products and then getting into the export market for foods. Company have quite a few good brands in its consumer portfolio like Woodwards, Eva, Good Home, and Skore Condom. Right now, company are in the bulk food business, and would like to get into the branded business in the next 3-4 years. Therefore, company should be able to get the growth from these four-five products, going forward.

More..

Report Date May 25, 2018

by Rashmi Nigam

Jain Irrigation (Quarter Update)

Buy

At Price: Rs 104

Target: Rs 163

Result Update -- KR Choksey

Net sales grew by 24.5% YoY to INR 27.7bn against our estimates of INR 27.3bn.

Report Date May 25, 2018

by Dhaval Shah , Rajil Shah

Dr Reddy's (Quarter Update)

Accumulate

At Price: Rs 1976

Target: Rs 2103

Result Update -- KR Choksey

Dr Reddy’s Labs reported Q4FY18 revenue of INR 35,349 mn which degrew 7.12% Q-o-Q but marginally grew by 1.04% Y-o-Y.

Report Date May 24, 2018

by Dhara Patwa , Dhaval Shah

Bajaj Corp (Company Update)

Accumulate

At Price: Rs 453

Target: Rs 505

Company Update -- CD Equisearch Private Limited

Report Date May 23, 2018

Adlabs Enterta (Quarter Update)

Buy

At Price: Rs 42

Target: Rs 116

Result Update -- SPA Securities Ltd

Adlabs Entertainment Ltd. (AEL) reported disappointing set of numbers with lowerthan expected footfalls in Theme Park and Water Park coupled with fall in ARPU.

Report Date May 23, 2018

by Ravikant Sangepag

SBI (Quarter Update)

Buy

At Price: Rs 265

Target: Rs 363

Result Update -- KR Choksey

SBI reported net loss of INR 77 bn during Q4FY18 vs. a loss of INR 34 bn during Q4FY17

Report Date May 23, 2018

by Anushka Chhajed , Raghav Garg

Cipla (Quarter Update)

Accumulate

At Price: Rs 532

Target: Rs 607

Result Update -- KR Choksey

Net Sales stood at INR 34,958 Mn which was up by 0.25% y-o-y but was down 8.83% q-o-q.

Report Date May 23, 2018

by Dhara Patwa , Dhaval Shah

Symphony (Quarter Update)

Sell

At Price: Rs 1423

Target: Rs 1263

Result Update -- Emkay Global Financial Services Ltd

Unseasonal rains dampen performance

Report Date May 23, 2018

by John Jose Perinchery

Greaves Cotton (Company Update)

BUY

At Price: Rs 126

Target: Rs 180

Greaves Cotton Ltd - Re-aligning growth strategies -- Eastern Financiers Ltd

Greaves Cotton Ltd (GCL) is a diversified engineering company engaged in the manufacturing of diesel and petrol engines, gen-sets, agro equipment, aero engines, lightweight engine and construction equipment. The Company owns eleven manufacturing units located in the states of Maharashtra and Tamil Nadu. It has 10,000 touch points and 1,500 dealers across India & 25 distributors in the international market. GCL has healthy return ratios, strong balance sheet, and leadership position in 3W engine manufacturing, attractive dividend payout and reasonable valuations. We recommend a BUY with a price target of Rs.180/sh.

More..