IDEA, Edelweiss, HDFC Bank in Focus Today
- IDEA: MSCI has increased weight on the stock in its MSCI Emerging Market index. Following this MSCI EM index will need to buy 6.65 million shares of IDEA before the close of June 18, 2014.
- Edelweiss Financial Services plans to raise Rs 400 crore through NCD (Non-Convertible Debenture) issue. The issue will open today and close on July 2.
- Spice Jet & Jet Airways: These two stocks are likely to be under pressure as AirAsia India adds Kochi to its network. AirAsia India announced on Monday that it would start daily operation from Banglore to Kochi and vice versa from July 20. The airline has announced a limited offer all-inclusive fare of Rs 500 on this route.
- Ipca Laboratories: As per a report on Monday, Ipca Lab gained around 30 per cent market share in Malaria drugs market. Ipca has priced its products 10 per cent lower compared to pre-tendered price. Nomura expects its FY15-17 earning per share may increase by 2-4 per cent.
- HDFC Bank: UBS has maintains buy on the stock with a target price at Rs 1,000. The brokerage expects that recovery in economic cycle will push loan growth and deposit growth of the bank. UBS expects HDFC Bank to grow above 25 per cent and expects more than 10 basis points margin expansion in FY14-16.
- Coal India: CLSA maintains buy on the stock with a target price at Rs 440. The brokerage expects that the new government's initiative will result in faster production for the company.
- Maruti Suzuki India: Deutsche Bank (DB) maintains buy on the stock with a target price at Rs 2,700. DB believes that Maruti is well placed to benefit from an upturn in economy. Demand revival and low discount to drive growth for Maruti it added. DB says Maruti can touch Rs 3,750 in two years.
- Bajaj Auto: Bank of America Merrill Lynch (BofAML) maintains underperform on Bajaj Auto with a target price at Rs 1,950. The brokerage says margin outlook remains muted due to rising contribution from low priced products. Growth will be restricted by weak domestic franchise it added.
- Hero Motocorp: BofAML maintains neutral on Hero with a target price at Rs 2,685. The brokerage argues that profit margin of the company to expand due to cost saving. Export ramp up to result in better volumes for the company said BofAML.
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