Daily Alerts |
Change in Reco |
Hero Motocorp: Positives priced in; downgrade to ADD |
| Rural spending by government to increase 15% yoy in 2017E; largely similar to that of last year | | Good monsoon and recovery in agri commodity prices key for two-wheeler industry growth | | Downgrade Hero MotoCorp to ADD with revised target price of Rs3,050 |
|
Company alerts |
Kaveri Seed: Government panel proposes a big cut in BT tech fee |
| Government panel recommends MRP of Rs800/packet of cottonseeds, as per media sources | | The order vindicates the stance taken by major seed firms, including Kaveri | | Valuation: acceptance of the proposal will remove royalty overhang; maintain BUY |
|
Sector alerts |
Metals & Mining: Iron-ore mine auction kicks off |
| Essar Steel wins the first iron-ore mine; cost benefit low, but offers supply certainty | | Auctioning gains moderate; JSW Steel has the advantage of being a major player in Karnataka | | New mine auctions will further increase domestic supplies in an oversupplied market | | JSW Steel can benefit from Karnataka iron ore mine auctions |
|
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