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Thursday, April 13, 2017

Today's Calls
1. Buy Tata Motors Ltd at Rs.461, for short term targets of Rs.472-475, SL: Rs.457. Tata Motors' pricing strategy works with Tigor; sales crosses over 3,000 units in first month. Encouraging global volumes for its UK subsidiary, JLR, and expectations of a lower hedging loss is attracting investors. 
JLR's retail volumes grew by 21% year-on-year to 90,838 units in March 2017 due to continued sales momentum for F-Pace and gradual pick up in sales of revamped Discovery after it phased out the old model. In addition, Discovery Sport's volume grew at an unexpected 13% on a higher base. UK sales grew 27% after staying in low single digits in the past five months.Sales growth in North American, China, and Europe was 19-21%. 

2. Infosys Ltd declared satisfactory results today amidst demonetisation and US visa pangs. The software services exporter Infosys Ltd has reported consolidated profit at Rs.3,603 crore for the January-March quarter, degrowth of only 2.8% from Rs.3,708 crore in previous quarter. Revenues fell marginally by 0.88% to Rs.17,120 crore on sequential basis. However, the announcement of Rs 13,000-crore payout through dividend or share buyback during the year and fall in attrition rate is likely to lift the sentiments of Indian share markets. The company has guided its EBIT margin for the year at 23-25 percent.
The IT major has announced a final dividend of Rs 14.75 per share. Including this, aggregate dividend for financial year 2016-2017 amounted to Rs 25.75 per share, resulting in total payout of Rs 7,119 crore, it said. The Nifty spot is now trading at 9,186.85, down 16.60 points or 0.18%, but is expected to change to Green soon.

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