Research

Stock market advice by Kantilal Chhaganlal experts helps you to analyze market trend for smarter investment decisions.

KC's Institutional Equity Research provides in-depth reporting and analysis on many of NSE, BSE listed stock with clear focus on value investing principal and to help our institutional investors create wealth with prudent and investing. KC's technical research team believes in providing cutting edge and winning calls to its customer based on its strong technical knowledge and ability to identify winning picks in markets. A winning combination of in-depth research, professional management and value based approach towards investing, forms the strong foundation of the KC group, on the basis of which we enjoy the trust of our clients and business associates.

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Recommendation

  • FutureEQ - Positional Sort on rise BEML Fut @725 or better (LTP-715) (SL: 740) Target 660 (LOT size#500)

11/13/2018 10:30:32 AM

Positional Sort on rise BEML Fut @725 or better (LTP-715) (SL: 740) Target 660 (LOT size#500)?Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional Sort on rise KAJARIA CER Fut @445 (LTP-435) (SL: 450) Target 410/400

11/13/2018 9:37:07 AM

Positional Sort on rise KAJARIA CER Fut @445 (LTP-435) (SL: 450) Target 410/400 ?Refer to disclaimer https://goo.gl/dww4CC


  • Index - India market view and Morning Note

11/13/2018 9:36:06 AM

India market view and Morning Note


  • Index - India market view and Morning Note

11/13/2018 9:36:06 AM

India market view and Morning Note


  • FutureEQ - Positional SORT ADANI ENT @162.90 (LTP or better upto 164) for target 155/150 (SL: 170) Lot size: 40

11/12/2018 2:49:34 PM

Positional SORT ADANI ENT @162.90 (LTP or better upto 164) for target 155/150 (SL: 170) Lot size: 4000 ?Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional Long KOTAK BANK Future on fall upto 1148 (LTP: 1152) SL: 1142 target 1190/1200 current se

11/12/2018 10:10:18 AM

Positional Long KOTAK BANK Future on fall upto 1148 (LTP: 1152) SL: 1142 target 1190/1200 current series ?Refer to disclaimer https://goo.gl/dww4CC


  • Index - NIFTY view and Morning Note

11/12/2018 9:16:36 AM

NIFTY view and Morning Note


  • FutureEQ - Positional LONG MRF Future @66350 (LTP or better upto 66000) for target 68800/70000 (SL:65000) (curr

11/9/2018 2:48:06 PM

Positional LONG MRF Future @66350 (LTP or better upto 66000) for target 68800/70000 (SL:65000) (current series) Lot size #10 ?Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional LONG DABUR Future @376 for target 410 (SL:370) (current series) Lot size #1250

11/9/2018 1:27:19 PM

Positional LONG DABUR Future @376 for target 410 (SL:370) (current series) Lot size #1250 ?Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional LONG SUNTV Future @618 for target 650 (SL:600)

11/9/2018 1:26:49 PM

Positional LONG SUNTV Future @618 for target 650 (SL:600) Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional LONG SUNTV Future @618 for target 650 (SL:600)

11/9/2018 10:24:25 AM

Positional LONG SUNTV Future @618 for target 650 (SL:600) Refer to disclaimer https://goo.gl/dww4CC


  • CashEQ - Delivery Buy ORIENT ELECTRIC @135 (LTP or better) for target 180 (1-year target)

11/7/2018 6:01:31 PM

Delivery Buy ORIENT ELECTRIC @135 (LTP or better) for target 180 (1-year target) Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - CALL REVIEW: Positional INDUSIND BANK LONG (maintain Trailing SL at 1490) The contract made a high o

11/5/2018 12:33:05 PM

CALL REVIEW: Positional INDUSIND BANK LONG (maintain Trailing SL at 1490) The contract made a high of 1560 against target of 1570 since initiation of call on 1 Nov


  • FutureEQ - Call Review: Dabur Future: Exit at 370 (we will seek still better level for entry)

11/2/2018 2:16:33 PM

Call Review: Dabur Future: Exit at 370 (we will seek still better level for entry)


  • FutureEQ - Call Review: Dabur Future: Exit at 370 (we will seek still better level for entry)

11/2/2018 2:16:32 PM

Call Review: Dabur Future: Exit at 370 (we will seek still better level for entry)


  • FutureEQ - Call review (1 Nov) Positional Long INDUSIND FUTURE @1466 (LTP) or better upto 1450 (SL 1430) for t

11/2/2018 1:05:47 PM

Call review (1 Nov) Positional Long INDUSIND FUTURE @1466 (LTP) or better upto 1450 (SL 1430) for target 1570 (current series) Lot size 300 ? if target meets today carry forward the position for target 1600 revising the SL at 1560 (LTP:1556) Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional Long DABUR Future @373 (SL:350) for target 440 (current or next series) Lot size # 1250 R

11/2/2018 12:15:51 PM

Positional Long DABUR Future @373 (SL:350) for target 440 (current or next series) Lot size # 1250 Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Call Review (31 Nov) POSITIONAL LONG M&M Future @765 (LTP) for target 780/810 (current series) (SL:7

11/2/2018 11:54:28 AM

Call Review (31 Nov) POSITIONAL LONG M&M Future @765 (LTP) for target 780/810 (current series) (SL:745) *Lot Size 1000 Refer to disclaimer https://goo.gl/dww4CC ? Having achieved the 1st target stay invested for 2nd one at 810 (Trailing SL be considered at 780)


  • FutureEQ - Positional LONG Dalmia Bharat Future @2167 (LTP) for target 2400 (current series) (SL 2050) Lot size

11/2/2018 10:38:21 AM

Positional LONG Dalmia Bharat Future @2167 (LTP) for target 2400 (current series) (SL 2050) Lot size: 300 ?Refer to disclaimer https://goo.gl/dww4CC


  • FutureEQ - Positional LONG Dalmia Bharat Future @2167 (LTP) for target 2400 (current series) (SL 2050) Lot size

11/2/2018 10:38:21 AM

Positional LONG Dalmia Bharat Future @2167 (LTP) for target 2400 (current series) (SL 2050) Lot size: 300 ?Refer to disclaimer https://goo.gl/dww4CC


  • CashEQ - Delivery Buy on decline *GNFC* @366 or better upto 350 (available only in Cash Segment) for target

11/2/2018 10:25:31 AM

*Rationale* • Its being primarily a chemical company, the weak SBU of fertiliser be overlooked for far better prospects in chemical business. (30% revenue is from Fertiliser but not contributing to bottomline for regulatory nature of business) The company is one of the leading suppliers of TDI in Markets of Middle East and Africa. The company's products have been exported to 66 Countries. It netted Rs629cr export revenue last year which constituted 16% of chemical revenue. • All of its chemical verticals are operating at more than 100% capacity utilisation rate, http://www.gnfc.in/aboutus/productsales.html with key TDI (Toluene Di-Isocyanate) SBU (application for Foams) at Dahej is having spare capacity. • Expansion was warranted for growth, which the management is planning in TDI (Rs200cr), Ammonia production (Rs150cr). For Acetic Acid the management has said to set up capacity to substitute imports worth Rs5000cr (current chemical turnover is Rs4000cr) https://bit.ly/2L2cink • Expansion are likely to be funded through internal accruals (FY18 CFO: Rs1818cr) Company had paid off Rs1376 cr debt in FY18. Its currently maintaining zero debt status. • The stock is factoring 5.9x FY19 annualised earnings ( although 2H constitute 60-70% of yearly PAT) which is quite cheap considering the standing of the company in the market, financials, management quality etc. (Auditor: S R B C & CO LLP) • Majority of its ongoing capex benefits likely to accrue in FY19-20e. We value 10x PAT (FY19) for a target price of 600 over 1-1.5years. • (Shareholding: Gujarat state PSUs: 41%, Long-only institutions/MFs 26%) • ?Refer to disclaimer https://goo.gl/dww4CC


  • CashEQ - Delivery Buy on decline *GNFC* @366 or better upto 350 (available only in Cash Segment) for target

11/2/2018 10:25:30 AM

*Rationale* • Its being primarily a chemical company, the weak SBU of fertiliser be overlooked for far better prospects in chemical business. (30% revenue is from Fertiliser but not contributing to bottomline for regulatory nature of business) The company is one of the leading suppliers of TDI in Markets of Middle East and Africa. The company's products have been exported to 66 Countries. It netted Rs629cr export revenue last year which constituted 16% of chemical revenue. • All of its chemical verticals are operating at more than 100% capacity utilisation rate, http://www.gnfc.in/aboutus/productsales.html with key TDI (Toluene Di-Isocyanate) SBU (application for Foams) at Dahej is having spare capacity. • Expansion was warranted for growth, which the management is planning in TDI (Rs200cr), Ammonia production (Rs150cr). For Acetic Acid the management has said to set up capacity to substitute imports worth Rs5000cr (current chemical turnover is Rs4000cr) https://bit.ly/2L2cink • Expansion are likely to be funded through internal accruals (FY18 CFO: Rs1818cr) Company had paid off Rs1376 cr debt in FY18. Its currently maintaining zero debt status. • The stock is factoring 5.9x FY19 annualised earnings ( although 2H constitute 60-70% of yearly PAT) which is quite cheap considering the standing of the company in the market, financials, management quality etc. (Auditor: S R B C & CO LLP) • Majority of its ongoing capex benefits likely to accrue in FY19-20e. We value 10x PAT (FY19) for a target price of 600 over 1-1.5years. • (Shareholding: Gujarat state PSUs: 41%, Long-only institutions/MFs 26%) • ?Refer to disclaimer https://goo.gl/dww4CC