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Top brokerage calls for Tuesday: Jefferies underweight on Dr Reddy's, Axis Capital rates hold on Adani Ports

Top brokerage calls for Tuesday: Jefferies underweight on Dr Reddy's, Axis Capital rates hold on Adani Ports

Top brokerage calls for Tuesday: Jefferies underweight on Dr Reddy's, Axis Capital rates hold on Adani Ports
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By Mousumi Paul  Mar 12, 2019 7:53:19 AM IST (Published)

Indian benchmark indices are likely to open in green on Tuesday as Asian shares rose after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

Indian benchmark indices are likely to open in green on Tuesday as Asian shares witnessed a good escalation after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

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On Monday, the 30-share BSE Sensex went up 382.67 points to 37,054.10 along with Nifty which was up 132.65 at 11,168.05.
In brokerage calls today, Axis Capital maintained a "hold" rating for Adani Ports with a target price to Rs 356 per share. Jefferies maintains "underperform" for Dr Reddy's Laboratories at Rs 2,180 per share. Here are the top brokerage calls for today:
Edelweiss On GMDC
-Initiate Coverage With A Buy Call, Target At Rs 105/Sh
-Conviction Is Underpinned By Two Vs: Volume & Valuation
-See Imminent Volume Uptick Post Production Ramp-up At   New Mines, Despite Stagnant Prices
-On Valuation Front, Stock Is Trading At The Lowest End Of Its   8-year EV/EBITDA Band
-Expect Co To Surpass The `5,000 Cr (3% CAGR) EBITDA   Barrier By FY21
Axis Cap On Adani Ports
-Hold Rating, Target At Rs 356/Sh
-Well Placed To Benefit From Healthy Volume Growth
-May See 12% CAGR In Core EBITDA (ex-SEZ) Over FY18-21
Axis Cap On CONCOR
-Hold Rating, Target At Rs 525/Sh
-Expect Volume Growth Of 10/13/15% To Remain Intact Over   FY19-21
-See 4% CAGR In Margin Expansion
-Remain Watchful Of Realisation Pressure On Higher   Contribution From Gujarat ports
Axis Cap On Gateway Distribution
-Buy Rating, Target At Rs 150/Sh
-Strategic Rail Terminals & Addl Rake Capacity To Aid Volume   Revival
-Expect Current Overhang Of Funding For Blackstone Stake   Acquisition To Go Away
-Management Is In Advanced Talks To Close The Deal
Axis Capital On Navkar Corp
-Buy Rating, Target At Rs 53/Sh
-Stock Available At Below Adj Book Value Given Slower-than-   expected Volume Growth
-Expect 6% Volume CAGR Though Margin To Be Stable On   Lower Diesel Costs
-Given Earlier Slippages, Efficient Execution Remains Crucial   For The Stock
Citi On Transportation & Logistics
-Dedicated Freight Corridor Has Achieved 56% Physical   Progress & 54% Financial Progress
-Most Of The Land For DFC Acquired But Last Mile Acquisition Is Proving To Be Difficult
-Surat-JNPT Section On Western DFC Is Proving To Be   Challenging
-Ports In Gujarat To Get Connected To DFC Earlier, Likely By   End CY19
-Freight From Gujarat Ports May Shift To DFC Over Next One   Year
-CONCOR Remains The Best Play On Commissioning Of DFC
Gateway Distri Will Benefit As Well
-Maintain Neutral On Adani Ports Given Concerns On Capital     Allocation
Jefferies On Dr Reddy’s Laboratories
-Maintain Underperform, Target At Rs 2,180/Sh
-Focussing On Improving Profitability Led By Cost Control,     Productivity & Global Product Dvpt
-China & India Are Focus Markets
-India Turnaround Will Take Time Given Underperformance     Over Multiple Years
-Near-term US & Cost Control Remains Key
-Stock Trades At 19x FY20PE, Implying Full Multiples To   Limited Time Earnings
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