Morgan
Stanley on BPCL
Maintained ‘Overweight’ with a price target of Rs 571.
Cabinet approved divestment of BPCL to a strategic investor along with management control.
Stake sale to a non-SOE could re-rate sector multiples, improve marketing margins and drive cost efficiencies for OMCs in the medium term.
Morgan Stanley on Shriram Transport
Maintained ‘Overweight’ with a price target of Rs 1,365.
New vehicle demand affected by overcapacity created by the change in axle load norms and slowdown.
NIMS to remain stable in the range of 7.2-7.3 percent; funding availability and the cost is improving.
Credit costs are expected to be in the 200-220 basis points band.
Morgan Stanley on Indian Telecom
Government approves a two-year moratorium on spectrum payments.
Move is cash flow positive for all the telcos but provides much-needed relief to Vodafone Idea.
Telcos still, have to pay remaining spectrum dues for 2019-20 which could be a drag on cash balances.
On Zee Entertainment
IDFC Securities
Maintained ‘Outperform’ with a price target of Rs 416.
Issues around pledged shares addressed.
Zee promoters to continue to run the company.
Believe the market should start re-pricing the company for its strong fundamentals.
Morgan Stanley
Upgraded to ‘Equal-weight’ from ‘Underweight’; hiked price target to Rs 340 from Rs 248.
Overhang of pledged stake diminishing.
Large a portion of the promoter debt issue could be resolved with recent stake sale.
Investors will start monitoring the financial and operational performance of the business.
Maintained ‘Overweight’ with a price target of Rs 571.
Cabinet approved divestment of BPCL to a strategic investor along with management control.
Stake sale to a non-SOE could re-rate sector multiples, improve marketing margins and drive cost efficiencies for OMCs in the medium term.
Morgan Stanley on Shriram Transport
Maintained ‘Overweight’ with a price target of Rs 1,365.
New vehicle demand affected by overcapacity created by the change in axle load norms and slowdown.
NIMS to remain stable in the range of 7.2-7.3 percent; funding availability and the cost is improving.
Credit costs are expected to be in the 200-220 basis points band.
Morgan Stanley on Indian Telecom
Government approves a two-year moratorium on spectrum payments.
Move is cash flow positive for all the telcos but provides much-needed relief to Vodafone Idea.
Telcos still, have to pay remaining spectrum dues for 2019-20 which could be a drag on cash balances.
On Zee Entertainment
IDFC Securities
Maintained ‘Outperform’ with a price target of Rs 416.
Issues around pledged shares addressed.
Zee promoters to continue to run the company.
Believe the market should start re-pricing the company for its strong fundamentals.
Morgan Stanley
Upgraded to ‘Equal-weight’ from ‘Underweight’; hiked price target to Rs 340 from Rs 248.
Overhang of pledged stake diminishing.
Large a portion of the promoter debt issue could be resolved with recent stake sale.
Investors will start monitoring the financial and operational performance of the business.
0 comments:
Post a Comment