Motilal Oswal - MOSL: Morning India (16/August/18): 1. Sun Pharma; 2. Grasim Inds; 3. Fund Folio; 4. Interglobe Aviation (ART); 5. Tata Chemicals; 6. Rain Industries; 7. Sadbhav Engg; 8. Ashoka Buildcon; 9. CG Power Ind

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Motilal Oswal

Team Research

MOSL: Morning India (16/August/18): 1. Sun Pharma; 2. Grasim Inds; 3. Fund Folio; 4. Interglobe Aviation (ART); 5. Tata Chemicals; 6. Rain Industries; 7. Sadbhav Engg; 8. Ashoka Buildcon; 9. CG Power & Ind

MOrning India (16/August/18): 1. Sun Pharma; 2. Grasim Inds; 3. Fund Folio; 4. Interglobe Aviation (ART); 5. Tata Chemicals; 6. Rain Industries; 7. Sadbhav Engg; 8. Ashoka Buildcon; 9. CG Power & Ind

Today’s top research idea

Sun Pharma: Decent quarter despite Taro-led headwinds; Maintaining positive stance

We expect SUNP to deliver 38% earnings CAGR over next two years on the back of potential launches and increased business of specialty portfolio. SUNP is in the process of putting marketing effort for awareness of its specialty portfolio to potential customers, the benefits of which would be reflected in next 18-24 months. Given that, pricing pressure is reducing profitability of generics base business, specialty portfolio would not only aid growth in revenue but also considerable improvement in profitability.
With regulatory compliance in place for Halol, we expect sales to ramp up from approved products as well as new approvals from this site over next 9-12 months. Further, SUNP is expected to consistently outperform in domestic formulation market.
We value SUNP at 25x 12M forward earnings and arrive at price target of INR700. Maintain BUY.

Piping hot news

Blackstone may buy stake in Jet Airways’ Privilege loyalty arm

US private equity firm Blackstone Group LP is in talks to acquire a stake in the frequent-flier loyalty programme of Jet Airways (India) Ltd, people familiar with the matter told Bloomberg on Wednesday. A potential deal could value the loyalty programme, Jet Privilege Private Ltd, between Rs 3,000 crore and Rs 4,000 crore and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg said.

16/08/2018 28 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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MOSL: Morning India (16/August/18): 1. Sun Pharma; 2. Grasim Inds; 3. Fund Folio; 4. Interglobe Aviation (ART); 5. Tata Chemicals; 6. Rain Industries; 7. Sadbhav Engg; 8. Ashoka Buildcon; 9. CG Power & Ind

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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