05 Dec , 2024 By : Debdeep Gupta
Citi On Indus Towers
Buy Call, Target At `485/Sh
Vodafone Group Plc To Sell Its Balance 3% Stake In Co, Est Total Sale Proceeds At `2,700-2,800 Cr
After Repaying Outstanding Borrowings Of $101 m, Est Residual Proceeds At `1,900-2,000 Cr
Residual Proceeds Would Then Be Infused As Equity By Vodafone Plc Into Voda Idea
Voda Idea Will Use Proceeds For Clearing Its Past Dues To Indus
The Amount Adds Up To `7/Sh For Indus, Which Believe Can Then Be Paid Out As a Dividend
Co Could Be In A Position To Pay Out `11-12/Sh Of Dividend For H2FY25
Dividend Could Rise To More Than `20/Sh/annum In FY26 & FY27
There Can Be A Compelling Dividend Yield Of 6% Over FY26-27 At Current Levels
CLSA On Persistent Systems
Outperform Call, Target Raised To `8,462/Sh
Multiple Growth Drivers &Margin Levers Leading To Higher Estimates
Operating In A Different League On The Back Of A Unique Set Of Capabilities
Increase Both Near-term & Longer-term Revenue Growth Forecasts
Forecast A 21% US Dollar Sales CAGR Over FY25-27
Increase EBIT Margin Assumption For FY27 To 16.2% From A Prior 15.5%
CLSA On Juniper Hotels
Initiate Buy Call, Target At `430/Sh
Co Is Largest Owner Of Hyatt Keys In India
A Strong Track Record Of Building Assets With High Entry Barriers
Asset-Owners Like Co Positioned To Benefit From Current Upcycle With Hotel Ind Demand Growth
Hotel Ind Demand Growth May Surpass Supply Growth Over FY24-29
Est 16?ITDA CAGR Over FY25-27 Led By Improvement In Occupancy & ARR At Grand Hyatt Mumbai
Nomura On Cement
Price Hike In East & North Bumps Pan-India Trade Prices By `5/Bag MoM
Concerns Remain Over Demand Pan-India
In Eastern Region Trade Prices Are Up `16/Bag MoM In Dec, In Northern Region `13/Bag MoM
In Southern Region & Western Region Prices Remain Flat MoM
In Central Region, December Prices Are Down By `2/Bag MoM
Morgan Stanley On Hero MotoCorp
Underweight Call, Target At ` 4,110/Sh
Co Launches Electric Scooter, Vida V2 Across Segments
Think Sustained Market Share Gains Are Key To Re-rating
e2-wheeler Share Was 6% In Nov-24, & Vida Variants Are Well Priced
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