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CLSA bullish on Indraprastha Gas & Indiabulls Real Estate, but bearish on Glenmark Pharma

Updated : 2019-08-16 08:48:36

Indian shares are likely to open higher on Friday amid expectations the government will soon announce steps to revive sluggish economy. Meanwhile, Asian shares traded lower as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy. At 07:05 AM, the SGX Nifty futures traded 0.40 percent up at 10,940.50, indicating a positive start for the Sensex and the Nifty.

CLSA has maintained a ‘buy’ rating on <strong>Indraprastha Gas Limited</strong> with a target price of Rs 390 per share as it expects the volume and margin to remain in-line with expectations. The research house said that IGL's foray into new markets kept the medium-term volume growth story intact. Also, fall in the domestic gas prices could be a tailwind for the company’s margins. CLSA believes that the company is amongst strongest volume growth story in the city gas distribution space. (Image: Reuters)
CLSA has maintained a ‘buy’ rating on Indraprastha Gas Limited with a target price of Rs 390 per share as it expects the volume and margin to remain in-line with expectations. The research house said that IGL's foray into new markets kept the medium-term volume growth story intact. Also, fall in the domestic gas prices could be a tailwind for the company’s margins. CLSA believes that the company is amongst strongest volume growth story in the city gas distribution space. (Image: Reuters)
CLSA has maintained a ‘buy’ rating on Indiabulls Real Estate but cut the target price to Rs 120 from Rs 150 per share. The brokerage said that the company will have a de-risked balance sheet and is aiming for net-debt zero status by March, 2020. It also added that the company is planning to sell 50 percent stake in sky projects and other commercial assets. Large land-bank in MMR (Mumbai Metropolitan Region) and NCR (National Capital Region) offers good long-term prospects to the company, said CLSA. (Image: Reuters)
CLSA has maintained a ‘buy’ rating on Indiabulls Real Estate but cut the target price to Rs 120 from Rs 150 per share. The brokerage said that the company will have a de-risked balance sheet and is aiming for net-debt zero status by March, 2020. It also added that the company is planning to sell 50 percent stake in sky projects and other commercial assets. Large land-bank in MMR (Mumbai Metropolitan Region) and NCR (National Capital Region) offers good long-term prospects to the company, said CLSA. (Image: Reuters)
CLSA has maintained a ’buy’ rating on Apollo Hospitals with a target price at Rs 1,600 per share saying that the company is on track to achieve revenue and EBITDA guidance for FY20. Furthermore, the research house said that the hospitals and pharmacy divisions continued growth momentum. Management expects further improvement in profitability with better execution, said CLSA. (Image: Company)
CLSA has maintained a ’buy’ rating on Apollo Hospitals with a target price at Rs 1,600 per share saying that the company is on track to achieve revenue and EBITDA guidance for FY20. Furthermore, the research house said that the hospitals and pharmacy divisions continued growth momentum. Management expects further improvement in profitability with better execution, said CLSA. (Image: Company)
CLSA has maintained a ‘sell’ call on Ipca Laboratories and raised the target price to Rs 810 from Rs 780 per share. The research house believes that the company is on track to achieve revenue and margin guidance for FY20, and expects increased capex as capacities reach optimum utilization. It further said that the company’s valuations limit scope of negative earnings surprise and that operating leverage benefits should continue in FY20. (Stock Image)
CLSA has maintained a ‘sell’ call on Ipca Laboratories and raised the target price to Rs 810 from Rs 780 per share. The research house believes that the company is on track to achieve revenue and margin guidance for FY20, and expects increased capex as capacities reach optimum utilization. It further said that the company’s valuations limit scope of negative earnings surprise and that operating leverage benefits should continue in FY20. (Stock Image)
CLSA has maintained a ‘sell’ call on Glenmark but cut its target price to Rs 350 from Rs 500 per share. The brokerage expects earnings growth to remain under-pressure and cuts FY20-21 EPS estimates by 15-18 percent. Furthermore, the company’s outlook hinges on the divestment of API business/non-core assets to reduce debt. Weak revenue growth and high research & development spend phase should keep the margins subdued, CLSA said in the report. (Image: Company)
CLSA has maintained a ‘sell’ call on Glenmark but cut its target price to Rs 350 from Rs 500 per share. The brokerage expects earnings growth to remain under-pressure and cuts FY20-21 EPS estimates by 15-18 percent. Furthermore, the company’s outlook hinges on the divestment of API business/non-core assets to reduce debt. Weak revenue growth and high research & development spend phase should keep the margins subdued, CLSA said in the report. (Image: Company)
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