Kotak has a Reduced rating on Nestle India with a target price of Rs 5,800. The last traded price of the stock was Rs 6,343 per share.
The company reported a loss of Rs 64.40 crore on standalone basis for the second quarter that ended on June 30, 2015 due to the ban on Maggi instant noodles. The company had posted a net profit of Rs 287.86 crore during the April-June quarter of the financial year 2014-15.
According to the report, the forecasts for Nestle, at this point, is fairly tricky.
There is a fair degree of tricky (if not wild) assessment involved in estimating (1) the timing of resumption of Maggi Noodles sales, and (2) the pace at which Maggi Noodles sales pick up post resumption.
Also, the stock continues to remain expensive. Hence the Reduce rating.
Nestle India’s stock had gained 21.24 percent in the last one year compared to the 6.2 percent rise in the Sensex.
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Nomura has a BUY rating on Justdial with a price target of Rs 1,800 per share against its last close price of Rs 1,077 per share, translating into a gain of 67 percent.
The company reported an 18 percent increase in net profit at Rs 33.17 crore for the June quarter vis-a-vis Rs 28.11 crore a year ago. Total income grew by 24.87 percent to Rs 168.62 crore against Rs 135.03 crore in the year-ago period.
The stock has fallen by 35 percent in the past year due to private equity investors selling their stake, the delay in the commercial launch of Search Plus and higher-than-anticipated advertising spends. But results over the past two quarters suggest that core search continues to grow, with management guidance of 25 percent growth. Also the company is the only available listed player in India’s online retail growth story.
Angel Broking has an Accumulate rating on Maruti Suzuki with a price target of Rs 4,735 per share against its last close price of Rs 4,328, translating into a gain of 9.4 per cent.
For the June quarter, the company reported a 56.49 per cent growth in net profit to Rs 1,192.92 crore on high volumes, favourable foreign exchange and cost reduction efforts. Net sales stood at Rs 13,078.32 crore as against Rs 11,073.51 crore, up 18.1 per cent.
According to the report, the passenger vehicle segment in India is poised to post double-digit growth over the next two years owing to improved consumer sentiment, better economic outlook and softer fuel prices. And Maruti will benefit from subdued commodity prices and favourable currency prices. outlook and softer fuel prices. Further, it is focusing on larger cars with two new product launches scheduled in the large car segment over the next one year period, which would boost its market share and profitability.
Elara Capital has a SELL rating on ITC with a target price of Rs 284 per share. Its last traded price was Rs 326 per share.
The company reported disappointing results for the June quarter as cigarette volumes contracted sharply by 17 percent owing to a decline in the mid-teens, affected by excise hikes and the consequent rise of tax-evaded cigarettes.
Net profit rose a meagre 3.6 per cent to Rs 2,265.4 crore while revenues dropped 7.1 per cent to Rs 8,587.7 crore (revenues from the non-cigarette business grew by 12.2 per cent during the quarter).
It remains bearish on ITV over this continued decline in cigarette volumes, subdued profit growth and sustained risk from harsher tax and non-tax measures from the government.
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