The brokerage house sees initial signs of recovery in Land Rover and remains optimistic on the company’s FY18 outlook. Further, it said that the company remains its top pick among Indian autos. A mix improvement cycle could lead to a surprise in margins and earnings before interest, taxes, depreciation and amortisation.
Havells India
The brokerage house said that an improvement in demand and market share gains will drive 22 percent earnings CAGR.
Axis Bank
The brokerage house stated that risk reward for Axis Bank was favourable and concerns on asset quality was priced in. It said that the valuations were attractive at 1.8 times P/BV on FY19 estimates. It expects an overall loan growth of 17/21 percent for FY18/19.
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