IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
-
Upload
puneetdubey -
Category
Documents
-
view
219 -
download
0
Transcript of IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
1/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
2/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
3/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
4/27
Institutional Equities
9')F>"A V>)$ 'W ,G@7:8$8 / 3$BB$8 68>"+>G*:'" ->*$ D7A /3>B$ X7>"*:*A H8:G$1.+5
-$>B 3:Y$ 1.+ )5
3I>8$+ 68>"+>G*:'" 1K5
Z'B#:"J >W*$8 68>"+>G*:'" 1K5
H 4G$/03$ N&/" H.3&00/ 4%&') H0A)% 76^76^6:7B @[* 6M98C:: BM7
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
5/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
6/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
7/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
8/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
9/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
10/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
11/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
12/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
13/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
14/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
15/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
16/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
17/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
18/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
19/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
20/27
gvgiri@iif lcap.com
Bharti Airtel BUY
4
Institutional Equities
!"R(*2 =W < :+J"%$& -'>PP T92$ T@&$# %8)."#$:"8# @*"%2 Y [$&(2 @$%I' Q2#2V":' J2* [$&(2 @$%I ZO2*$&& .2#2V":'*2 @ @/2^` @b /22^` @b*2 @ 0/2 C^C ,22 C^C,/. 0@ 022 S M9$/.. @2C:%46"K L:M7;$H1 NNOP !"&";46Q
Capex productivity improvements to continueIf one uses annualised mobile revenue as a % of total mobile and towerfixed assets as a proxy for capacity utilisation, it can be seen that thishas increased by 550bps in the past two quarters. Mobile + tower capexas a % of mobile revenue has come off which we understand is byimproving the timing of procurement of equipment.
!"R(*2 >W >C.J' "# :F2 J$': :]8 `($*:2*'
C:%46"K L:M7;$H1 NNOP !"&";46Q
We believe there is still some additional improvement that can happen.
Despite the recent increase in capacity utilisation, minutes carriedper BTS for Bharti is still below historical high.
As more 2G data users upgrade to 3G, more data will be carried by3G network resulting in freeing up of capacity in the 2G band
Based on our interaction with industry sources, we understand thattelcos 3G network can support up to 21Mbps. However, handsets inIndia support
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
21/27
gvgiri@iif lcap.com
Bharti Airtel BUY
5
Institutional Equities
!"R(*2 NW L2%:8* O$&($:"8# )$:*"B78)J$#+ QQb G"%I2* 75@
,c70/ 5 7$J
,KLM)/A[1A.":9$ @A- @1Q !0434? 7$R* ,H/ !04= -8A ,H/ !04= -87A
,H/ 0Gd
!04> !04? !04> !04? !04> !04? A.":9$ A@L *2:(*# ,H/
A)2*R"#R )$*I2: :2&%8' `Q;489 =948"< 'NE!)e `V=!>N NE ,,+ @01+0- *D+ /D* @/D? 0+D@ 0D. 0D+ 0- /@ /D/ +D? /
NA"; L""< 'CbS) C> C3 ,D** ?*10*. 0,D0 0@D- 0?D* 0,D? @D@ @D0 '0) - 0/D, ,+D. 0/ 529"$# A5 :2&%8' ?D? >DE 4=D? 43D= ;D; ;D4 ? 4C 4=D? ;CD3 > d2O2&8J29 )$*I2: :2&%8'
C8;4V%( 'CbS) C>V C3 ?D@. /1+,- 02D2 .D+ 0.D@ 0+D, E E^ , , E^ E^ 0+ ^0 'CbS) ^0 C3 ,D@- @1,+. .D/ +D. 0*D- 0/D? -D@ *D* / - ??D* ,/D0 @. >"V`) =SI=EL >` @22 0+10@+ +D0 -D0 0,D- 0@D@ 0@D2 00D, 00 0@ E^ E^ 0, b"
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
22/27
gvgiri@iif lcap.com
Bharti Airtel BUY
6
Institutional Equities
Management
[89$V8#2 ,;3H *2O2#(2 )$*I2: 'F$*2/6 T92$ ,4>DPH/6 -7Z5 ,NDPH/6 G$:$ d87858 ,ND?H/6 QLUc15GUc ,?DPH/6
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
23/27
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
24/27
Events Calendar January 2014 Institutional EquitiesMonday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4
6 7 8 9 10 11Geodesic Indusind Bank, Infosys
Dec CPINov IIP
Dec ExportsDec Imports
Goa Carbon
13 14 15 16 17 18CMC, Exide Maharashtra Scooter
Dec WPI:
Bajaj Finance, Bajaj Finserv Axis Bank, Bajaj Auto,Bajaj Holding, Gruh Finance,
MindTree, South Indian Bank
HDFC Bank Himachal Futuristic
20 21 22 23 24 25Asian Paints, Emami,Lakshmi Machine Works
Nov CPI:
Thermax, Torrent Pharma Biocon, HDFC Karnataka Bank,Mahindra Lifespace
ICRA, Persistent Systems
27 28 29 30 31Shree Cements
Monetary policy 3Q review
Mah Holidays Kansai Nerolac
Dec CPI: IW
Black: Quarterly results, Blue: Economic data, Red: India Holiday
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
25/27
Events Institutional Equities
Jan-Mar 14 Apr-Jun 14 Jul-Sep 14
Economics / Politics RBIs Monetary Policy meeting (Jan, Mar)
3QFY14 Quarterly GDP
RBIs Monetary Policy meeting (Apr, Jun)
4QFY14 Quarterly GDP
RBIs Monetary Policy meeting (Jul, Aug)
1QFY15 Quarterly GDP
Cement Reliance 4.5mtpa cement plant in MadhyaPradesh
Metals JSW Steel: Commissioning of 4mtpapellet plant and 1mtpa coke oven batteryat Dolvi
SAIL: Commissioning of 0.6mtpaUniversal Section Mill at IISCO in FY14-end
SAIL: Commissioning of 0.75mtpaBloom-cum-round caster and 1mtpa new
medium structure mill at Durgapur inH2FY14
Sesa Sterlite: Synchronization of first 660MW unit of 1,980 MW Power Plant atTalwandi Sabo
Sesa Sterlite: Synchronization of first 300MW unit of 1,200 MW Power Plant at Balco
Sesa Sterlite: First metal tapping atBalcos 325ktpa Korba III Aluminiumsmelter
Sesa Sterlite: First shipment fromLiberia iron ore mines
Sesa Sterlite: Commencement of miningat Balcos 211mt coal block
Hindalco- Novelis: Commissioning of120kt auto finishing line in China
Hindalco- Novelis : Commissioning of400kt recycling facility in Germany
SAIL: Commissioning of new steelmelting shop (SMS-3) and new billetcasters at Bhilai Steel plant.
Oil & Gas IOC FPO / auction IOC Paradip refinery (300kbpd)commission
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
26/27
Events Institutional Equities
Jan-Mar 14 Apr-Jun 14 Jul-Sep 14
Pharma Cipla: First European approval of genericversion of combination inhaler Advair
Divis Lab: USFDA approval of threeblocks in DSN SEZ facility
Ranbaxy: Launch of generic Diovan in USwith 180-day market exclusivity
Ranbaxy: Launch of generic Valcyte in USwith 180-day market exclusivity
Ranbaxy: Launch of generic Nexium in USwith 180-day market exclusivity
Ipca: Data on novel delivery form productclinical trial in the US
Torrent Pharma: Closure of the deal toacquire select brands from Elder Pharmasdomestic business
Telecom Court hearing on excess spectrum charges Court hearing on COAI vs. Tata case Jan 15: Last date for submission of
applications to participate in 900/1800MHzauctions
Jan 29: Final list of bidders Feb 3: Start of the 900/1800MHz auctions
Feb 20: Hearing on Sunil Mittal case forexcess spectrum
Possible LTE launch by RIL in Delhi andMumbai
Utilities IGL -PNGRB case up for hearing inSupreme Court on 29 Jan 2014
Awarding of Odisha and Tamil Nadu UMPP(4GW each) in February 2014
NHPC to commission 240MW Uri projectand 45MW Nimoo Bazgo project in J&K
CESC to commission 300MW atChandrapur (U1)
JSPL to commission 2mtpa DRI plant atAngul, Orissa
Reliance Power to commission 660MW atSasan U3, Madhya Pradesh
JSPL to commission 600MW Tamnar Exp,Chattisgarh
KSK Energy to commission 600MWMahanadi project (U2)
SJVNL to commission 205MW RampurHydro project, HP
NTPC to commission 66OMW unit at Barh CESC to commission 300MW Chandrapur
(U2), Maharashtra NHPC to commission 520MW Parbati III in
Himachal Pradesh Reliance Power to commission 660MW
Sasan U4, Madhya Pradesh JSPL to commission 600MW Tamnar Exp,
Chattisgarh KSK Energy to commission 600MW
Mahanadi project (U3)
Reliance Power to commission 660MWSasan U5, Madhya Pradesh
JSPL to commission 600MW Tamnar Exp,Chattisgarh
KSK Energy to commission 600MWMahanadi project (U4)
-
8/10/2019 IIFL Report Top Large Cap Mid Cap Dark Horse Stocks
27/27