Motilal Oswal - MOSL: Morning India (05/July/17)-1. Jubilant Life Sciences (Initiating Coverage) 2. Zee Entertainment (ART)-3. Titan 4. EcoScope 5. Bulls Bears

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Motilal Oswal

Team Research

MOSL: Morning India (05/July/17)-1. Jubilant Life Sciences (Initiating Coverage) 2. Zee Entertainment (ART)-3. Titan 4. EcoScope 5. Bulls & Bears

â€‹MOrning India (05/July/17): 1. Jubilant Life Sciences (Initiating Coverage): Promising formulation; 2. Zee Entertainment (ART); 3. Titan; 4. EcoScope; 5. Bulls & Bears

Todayâ€™s top research idea

Jubilant Life Sciences (Initiating Coverage): Promising formulation; Multiple triggers in place to drive earnings

We believe that Jubilant Life Sciencesâ€™ (JLS) unique portfolio of specialty products and distinguished strategy in Pharmaceuticals (52% of total sales) would drive growth over the next 2-3 years. Also, the improved outlook for Life Science Chemicals (45% of total sales) would enable the company to deliver positive growth after three years of contraction.

JLS has successfully cleared US FDA inspections in the past and faces minimal regulatory headwinds relative to peers, which is sentimentally positive. With revenue growth kicking in and improving margins in Pharmaceuticals, JLS could further reduce financial leverage and interest cost.

We initiate coverage on JLS with a Buy rating and an SOTP-based target price of INR905, implying potential upside of 31% from current levels.

Piping hot news

Liquor ban: Supreme Court may allow states to bypass its ruling

The Supreme Court is yet to pronounce a final verdict on it, but going by what it said on Tuesday, chances are the apex court will allow state governments to bypass its ban on selling/serving liquor on highways.

05/07/2017 24 EN

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MOSL: Morning India (05/July/17)-1. Jubilant Life Sciences (Initiating Coverage) 2. Zee Entertainment (ART)-3. Titan 4. EcoScope 5. Bulls & Bears

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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