Motilal Oswal - MOSL: Morning India (30/May/17)-1.EcoScope; 2. Coal India; 3. Larsen Toubro; 4. NTPC; 5. Power Grid; 6. BPCL; 7. Bharat Electronics; 8. BHEL

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Motilal Oswal

Team Research

MOSL: Morning India (30/May/17)-1.EcoScope; 2. Coal India; 3. Larsen & Toubro; 4. NTPC; 5. Power Grid; 6. BPCL; 7. Bharat Electronics; 8. BHEL

â€‹MOrning India (30/May/17): 1.EcoScope; 2. Coal India; 3. Larsen & Toubro; 4. NTPC; 5. Power Grid; 6. BPCL; 7. Bharat Electronics; 8. BHEL; 9. Aurobindo Pharma; 10. Oil India; 11. Crompton Gr. Cons; 12. Info Edge

Todayâ€™s top research idea

Larsen & Toubro: FY18 guidance a dampener

LTâ€™s 4QFY17 consol. EBITDA of INR43.4b (-4% YoY) was marginally below our estimate of INR44b. However, EBITDA, adjusted for INR6.3b of accelerated provisions at L&T Finance Holdings, stood at INR50b.
FY18 guidance on growth of 12% in sales, 12-15% in orders is lower than our expectation of a 15% growth in sales and orders.

We maintain our FY18/19 estimates and reiterate our view that L&T is the best play on a recovery in Indiaâ€™s capex cycle. Buy with a TP of INR2,000.

Piping hot news

Sebi looks to tighten the screws on P-Notes

â€‹The Securities and Exchange Board of India (Sebi) proposes to levy a $1,000 fee on foreign portfolio investors (FPIs) for each participatory note (P-Note) issuance in an effort to cut down on speculative investments.

30/05/2017 46 EN

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Motilal Oswal

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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 (30/May/17)-1.EcoScope; 2. Coal India; 3. Larsen & Toubro; 4. NTPC; 5. Power Grid; 6. BPCL; 7. Bharat Electronics; 8. BHEL

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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