Dec 04, 2013, 12.23 PM IST
Dharmesh Kant of India Nivesh Securities recommends buying Aurobindo Pharma with a target of Rs 320 and advises selling Reliance Infrastructure with a target of Rs 410.
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Buy Aurobindo Pharma, YES Bank; sell Relinace Infra: Kant
Dharmesh Kant of India Nivesh Securities recommends buying Aurobindo Pharma with a target of Rs 320 and advises selling Reliance Infrastructure with a target of Rs 410.
Like this story, share it with millions of investors on M3
Buy Aurobindo Pharma, YES Bank; sell Relinace Infra: Kant
Dharmesh Kant of India Nivesh Securities recommends buying Aurobindo Pharma with a target of Rs 320 and advises selling Reliance Infrastructure with a target of Rs 410.
One may buy Aurobindo Pharma with a price target of Rs 320 and a stoploss of Rs 300. The company posted decent set of numbers and we expect the company to surprise positively going forward for next couple of years where we are expecting top-line and bottom-line to grow at a rate of 15 percent CAGR. Still there is a valuation comfort in Aurobindo Pharma. It is still available at around 25-30 percent discount to its peers like Lupin or Sun Pharmaceutical Industries .
One may buy Alembic Pharmaceuticals for a price target of Rs 215, keeping a stoploss at Rs 202. It posted a stellar set of numbers and we expect the company to surprise positively going forward. The recent complex molecule filings in the US is likely to yield a better profitability growth, because they are high margin molecule filings. Secondly, the expanded capacity is now operational in full swing and the better product mix in the domestic market has been doing fairly well.
One may buy YES Bank for a price target of around Rs 390, keeping a stoploss at Rs 364. It posted a healthy set of Q2 numbers with a net profitability growth of around 21 percent. Even the CASA which has been a problem for YES Bank showed a decent traction where it came at around 20.4 percent as compared to 17.3 percent last quarter same year. Asset quality remains one of the best in the industry at around 0.28 gross NPA and 0.04 percent net NPA.
One may sell Reliance Infrastructure . It is more of a hedge kind of strategy against the three buying picks. As far as fundamentals are concerned Reliance Infra stands on a weak wicket, be it the order book visibility or the positive execution. Their working capital cycle is getting expanded and the debt burden is still there. So it is more of a sell on rally kind of candidate, hence a sell call on Reliance Infra with a price target of Rs 410 keeping a stoploss at Rs 437.
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