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Team Research

MOSL: Morning India (8/August/17)-1. Strides Shasun (Making great strides) 2. Tata Steel 3. Hindalco (Novelis) 4. Britannia Inds. 5. Amara Raja Bat. 6. Eveready Inds.

​MOrning India (8/August/17): 1. Strides Shasun (Making great strides); 2. Tata Steel; 3. Hindalco (Novelis); 4. Britannia Inds.; 5. Amara Raja Bat.; 6. Eveready Inds.

Today’s top research idea

Strides Shasun - Initiating Coverage: Making great strides

  • ​Strides (STR) is set to deliver 42% earnings CAGR over FY17-20 on the back of significant investments the company has made in the last 2-3 years.
  • Through Solara, which will house its API business, it is well-placed to capitalize on the good opportunity in the API space. Its niche portfolio, consistent compliance, and sizable manufacturing capacity stand it in good stead.
  • US revenue should multiply ~3x over FY17-20, driven by existing ANDAs pending for approval and aggressive filing.
  • By expanding its product offerings, tying up with the largest distributor, and enhancing reach by catering to standalone pharmacies, we expect STR to be on a strong growth trajectory in Australia as well.
  • We initiate coverage with a BUY rating and an SOTP-based target price of INR1,300.

Piping hot news

Hike in GST cess on luxury cars will dent Make in India, say carmakers

  • ​Makers of sports utility vehicles (SUVs) and luxury cars are protesting the GST Council's plan to raise the cess on such products from 15% to as much as 25%, warning that the move will lead to production cuts and job losses and dent the "Make in India" initiative.


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