DB On Auto Sales: LCV Showing Initial Signs Of A Cyclical Upturn
>> DB On Auto Sales: Heavy CV Growth Continues; Ashok Leyland Loses Shr While Tata Gains
> DB On Auto Sales: Have Buy Call On M&M; Target At Rs 1,450/Sh
> DB On Auto Sales: Have Buy Call On Ashok Leyland; Target At Rs 125/Sh
> DB On Auto Sales: Have Hold Call On Eicher; Target At Rs 19,000/Sh
> DB On Auto Sales: Have Hold Rating On Tata Motors; Target At Rs 360/Sh
>
> CS On Auto Sales: May Month Saw Moderation In Volume Growth Across Vehicle Segments
>
> Nomura On Auto Cos: Have Buy Call On M&M, Maruti Suzuki & Tata Motors
>
> MS On Coal India: Have Underweight Call On The Stock, Target Price At Rs 245/Sh
> MS On Coal India: Continue To Believe That The FY17 Production Target Is Aggressive
> MS On Coal India: Expect Production & Dispatch To Improve From Current Levels
> MS On Coal India: Production & Dispatch Increased By 4% In May 2016
>
> CLSA's India Strategy: More Rate Cuts Can Be Seen If Normal Monsoon Is Seen
> CLSA's India Strategy: Increase In MSPs Reinforces Govt's Commitment Of Keeping Infln Low
> CLSA's India Strategy: Elevated Rate Of Tax On Auto Fuels May Be Used To Fund Infra Capex
> Sent from my Samsung Galaxy smartphone.
>
>
> CLSA ON ASIAN PAINTS
> Downgrade to High Conviction Sell, Target `900 from `1000
> Valuations ignoring some imminent earning risks
> Stock rallied 30% in 1 year and valuations at 47x 17 PE
> Cut EPS by 4 - 8% on recent surge in crude, tough volume comps
> Strong stock return but most of the good news is in the price now
>
> JP MORGAN ON COAL INDIA
> Upgrade to Neutral from Underweight, Target `330
> Upgrade to Neutral as price hike and dividend yield provide support
> Recent price hikes provide earnings visibility to FY17-18
> Percentage of market-linked coal sales to increase sharply from current 10-12%
> Domestic and global glut of coal is likely to keep E-auction prices in check
> Cash could reduce materially from here on a large buyback
> Near-term production growth to remain muted, news on linkage auction to drive stock
>
> BOFA ML ON COAL INDIA
> Raise target to `442 from `434, Maitain Buy
> CIL has increased its coal prices by 6.3%; can add `65/tn to realisations
> Price increase likely to improve overall realization of FSA coal by 4.6%
> Subdued e-auction prices set to recover in FY17
> CIL only stock that provides adequate safety on the realization front
> Trades at 10.5x PE which is 30% below the historical average
>
> CS ON PHARMA
> April-16 IMS data shows negative surprise for HCQS
> Two new players have entered HCQS which is negative for Cadila, Sun and IPCA
> HCQS now is a seven-player market with the entry of Northstar and Actavis
> Northstar has already gained a 13% value share and Actavis at 1%
> Sent from my Samsung Galaxy smartphone.
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