MARKETS LIVE: the government's agricultural campaign, global indexes to guide indexes; RIL in focus

Best Ideas for Prabhudas Lilladher:

BUY APOLLO TIRES

CMP: Rs 253.30

TARGET: Rs 270

STOP LOSS: Rs 244

The stock has been corrected in recent times, rising from around 300 to over 250 levels and has indicated a positive candle profile in the daily chart to indicate strength and upside potential in the coming days. . The RSI also reached its lowest level and showed a reversal of the oversold zone to signal a purchase and moved to a positive bias zone. With good volume activity, we recommend a purchase in this stock for a bullish target of 270 by maintaining a stop loss of 244. Click here to learn more
Future Lifestyle Fashions (FLFL IN): Acquisition of 29.9% stake in Koovs in Online Foray

Evaluation BUY

Target price Rs 540

FLFL acquired a 29.9% stake in Koovs (Koovs Plc) for approx. 1.40 billion INR, which gives him access to an online fashion platform, something that was missing from his portfolio. Through this online foray, FLFL will be able to operate an omni-channel game with its network of physical stores and develop its own brand portfolio. We maintain our purchase recommendation with a price target of Rs 540

(Source: Jefferies)
Clever Perspectives for Prabhudas Lilladher:

Nifty sees its daily trend rise after 7 days and the daily trend of Bank Nifty is recovered after 5 days. Also Nifty has crossed and closed over the hurdle of 10,730-10,750 which implies a margin of progression to the target of 10,800-10,850. Support for the day is seen at 10.710 while resistance is seen at 10.830. The mid-cap sector, as mentioned earlier, looks promising from now, as well as the pharmaceutical sector with stocks like Lupine, etc. Nomura on Tata Motors

For June 18, we expect ~ 3% growth in overall JLR sales and ~ 1% growth in wholesale sales. In FY19F, we take into account a 9% growth in JLR volumes generated by the total impact of RR / RR-refresh, E-Pace, XE (Long Wheel Base) in China and the launch of I -Pace in September-18.

The stock is trading at 3.5x / 2.7x FY19 / 20F EV / EBITDA, which is at the bottom of the historical range, even with EBIT margin badumptions (JLR 3.8-4.9%, Standalone 2.8% / 3.5% in FY19 / 20F) much more conservative than guiding (JLR 4-7%, Standalone 3-5%). Maintain Buy. Kotak Securities on Adani Ports & SEZ

The performance of FY18 for Adani Port (APSEZ) reflects (1) strong volume growth in segments supported by capacity expansion; (2) a sound contribution from the subsidiary ports; (3) a healthy consolidated EBITDA margin, (4) a higher non-recurring result and a streamlining of interest expense that stimulated PAT. The good direction of the company's volume growth for fiscal year 19, led by the commissioning of new ports, the new cargo supply and market share gains, is positive.

Dilution of the participation by the promoters of 4% gives us more comfort to approach the debt service at the level of the group. We estimate that the consolidated entity must report a CAGR volume of 11% over 18 to 20 years with the new ports of Dhamra, Hazira, Dahej, Kattupalli and the volume of containers at Mundra contributing the maximum.

Our target price is based on the SOTP valuation with a weighted average cost of capital (WACC) of 12.0% and book values ​​for other investments. Maintain BUY with an unchanged target price of Rs 485.
EVENT TODAY HUI RIL will host the 41st AGM today

The last two annual general meetings of Reliance Industries were just fun – announcing the Jio telecom initiative in the first and the launch of JioPhones in the second. At the 41st AGM on Thursday, Jio could be back on the scene again.

According to the RIL AGM, among other resolutions, RIL is seeking shareholder approval to raise up to Rs 200 billion through non-convertible debentures (NCDs). ). READ MORE

Markets should encourage farmers as a result of government pressure, but negative global indexes should keep that sentiment under control on Thursday.

The Union Cabinet on Wednesday approved a sharp rise in minimum support prices for kharif crops. the 2018-19 season in order to contain the distress of the agricultural sector.

Overall, Asian equities started cautiously on Thursday as investors remained nervous about the impending deadline for Washington's proposed Chinese import tariffs, leaving financial markets uncertain. .

The Asia-Pacific ex-Japan equity index rose 0.03% after falling 0.4% the day before. Asia has been deprived of the usual tracks as US markets were closed Wednesday for the Independence holidays. The Japanese Nikkei lost 0.1%, the South Korean KOSPI stagnated and Australian stocks rose 0.4%

The United States plans to apply a 50 billion dollar tariff from imports from China. has upset global financial markets in recent weeks. On July 6, import duties of $ 34 billion will come into effect, and Beijing has promised to fight back in kind

(with Reuters contributions)