 "HDFC twins, ICICI Bank, L&T among 26 stocks near record highs")
Shares of Housing Development Finance Corporation (HDFC), HDFC Bank, ICICI Bank, Larsen & Toubro (L&T), Havells India and Marico are among 26 stocks that were trading close to their respective record high levels on BSE.
Honeywell Automation, ICICI Lombard General Insurance, Punjab Chemicals and Crop Protection, Berger Paints, United Breweries, Gujarat Fluorochemicals and SKF India too were quoting near to their all-time high levels. These stocks are less than 5% away from their record high levels on the BSE.
Avenue Supermarts, which owns and operates D-Mart supermarket chain, Nestle India, Bata India and Colgate-Palmolive (India) hit new highs on Wednesday.
United Breweries (UBL) was up 3% to Rs 1,413 in intra-day trade, extending its 10% rally in past two days, on the expectations of higher volume growth in the current quarter (October-December). The stock was trading 4% lower from its all-time high level of Rs 1,464 touched on September 28, on the BSE in intra-day trade.
Analysts at ICICI Securities have ‘buy’ rating on the stock with target price of Rs 1,490 on the BSE. UBL recorded strong volume growth of 17% vs. industry growth of 11%. The growth was also favourable due to a continued channel filling in UP due to changes in route to market in the state, which led to the granting of large numbers of new wholesale licenses.
“The theme around favourable demographics, rising disposable income and low per capita beer consumption continues to attract global beer companies in India. From a regulatory perspective the worst appears to be over with fading of highway ban and stable state excise policies, which would create a favourable consumer pricing scenario and assist overall volume growth. In addition to the same, formalisation of the sector (corporation model) would benefit large players like UBL,” the brokerage firm said in result update.
L&T up 1% at Rs 1,438 was 2% away from its record high level of Rs 1,470 touched on February 1, this year, on expectation of strong order inflow going forward.
Analysts are positive on L&T led by strong execution in core E&C business with robust order inflow momentum led by strong performance of key segments i.e. infrastructure and hydrocarbon. The plan to exit part of development assets especially monetisation of Hyderabad metro in a long-term is positive.
“We expect L&T to report strong order inflow in next couple of years led by multiple high-value orders including Bharatmala Pariyojana, SagarMala, bullet train and Metro rail. We believe L&T is well-placed to benefit from several big-ticket projects, as it satisfies all basic requirements i.e. balance-sheet size, strong track record, technical expertise and adequate liquidity to bid for such projects. We expect its revenue and earnings to clock 13% and 16% CAGR, respectively over FY18-21E,” Reliance Securities said. The brokerage firm initiates coverage on L&T with BUY recommendation and an SOTP-based target price of Rs 1,760.
Honeywell Automation, ICICI Lombard General Insurance, Punjab Chemicals and Crop Protection, Berger Paints, United Breweries, Gujarat Fluorochemicals and SKF India too were quoting near to their all-time high levels. These stocks are less than 5% away from their record high levels on the BSE.
Avenue Supermarts, which owns and operates D-Mart supermarket chain, Nestle India, Bata India and Colgate-Palmolive (India) hit new highs on Wednesday.
United Breweries (UBL) was up 3% to Rs 1,413 in intra-day trade, extending its 10% rally in past two days, on the expectations of higher volume growth in the current quarter (October-December). The stock was trading 4% lower from its all-time high level of Rs 1,464 touched on September 28, on the BSE in intra-day trade.
Analysts at ICICI Securities have ‘buy’ rating on the stock with target price of Rs 1,490 on the BSE. UBL recorded strong volume growth of 17% vs. industry growth of 11%. The growth was also favourable due to a continued channel filling in UP due to changes in route to market in the state, which led to the granting of large numbers of new wholesale licenses.
“The theme around favourable demographics, rising disposable income and low per capita beer consumption continues to attract global beer companies in India. From a regulatory perspective the worst appears to be over with fading of highway ban and stable state excise policies, which would create a favourable consumer pricing scenario and assist overall volume growth. In addition to the same, formalisation of the sector (corporation model) would benefit large players like UBL,” the brokerage firm said in result update.
L&T up 1% at Rs 1,438 was 2% away from its record high level of Rs 1,470 touched on February 1, this year, on expectation of strong order inflow going forward.
Analysts are positive on L&T led by strong execution in core E&C business with robust order inflow momentum led by strong performance of key segments i.e. infrastructure and hydrocarbon. The plan to exit part of development assets especially monetisation of Hyderabad metro in a long-term is positive.
“We expect L&T to report strong order inflow in next couple of years led by multiple high-value orders including Bharatmala Pariyojana, SagarMala, bullet train and Metro rail. We believe L&T is well-placed to benefit from several big-ticket projects, as it satisfies all basic requirements i.e. balance-sheet size, strong track record, technical expertise and adequate liquidity to bid for such projects. We expect its revenue and earnings to clock 13% and 16% CAGR, respectively over FY18-21E,” Reliance Securities said. The brokerage firm initiates coverage on L&T with BUY recommendation and an SOTP-based target price of Rs 1,760.
| Company | Intra-day high | Previous high | High Date | % chg |
| Colgate-Palm. | 1341.95 | 1327.40 | 14/12/2018 | 1.1 |
| Avenue Super. | 1696.15 | 1682.00 | 02/08/2018 | 0.8 |
| Bata India | 1125.00 | 1116.00 | 29/08/2018 | 0.8 |
| Nestle India | 11700.05 | 11700.00 | 03/09/2018 | 0.0 |
| GlaxoSmith C H L | 7916.15 | 7934.85 | 18/12/2018 | -0.2 |
| Marico | 386.00 | 388.00 | 24/08/2018 | -0.5 |
| Pidilite Inds. | 1187.45 | 1194.90 | 17/12/2018 | -0.6 |
| Hind. Unilever | 1858.05 | 1870.50 | 17/12/2018 | -0.7 |
| Vinati Organics | 1709.95 | 1731.35 | 17/12/2018 | -1.2 |
| Larsen & Toubro | 1437.60 | 1469.60 | 01/02/2018 | -2.2 |
| ICICI Bank | 366.65 | 375.25 | 16/11/2018 | -2.3 |
| Havells India | 711.20 | 728.95 | 03/09/2018 | -2.4 |
| HDFC Bank | 2158.15 | 2219.05 | 18/07/2018 | -2.7 |
| NRB Bearings | 217.05 | 223.60 | 17/12/2018 | -2.9 |
| Linde India | 684.05 | 705.50 | 10/12/2018 | -3.0 |
| ICICI Lombard | 905.60 | 936.00 | 17/09/2018 | -3.2 |
| Berger Paints | 337.50 | 349.00 | 29/08/2018 | -3.3 |
| Aarti Inds. | 1467.05 | 1519.00 | 21/11/2018 | -3.4 |
| United Breweries | 1413.00 | 1464.20 | 28/09/2018 | -3.5 |
| Divi's Lab. | 1519.95 | 1577.00 | 19/11/2018 | -3.6 |
| Vindhya Telelink | 1970.00 | 2047.95 | 28/11/2018 | -3.8 |
| SKF India | 1933.45 | 2010.00 | 01/01/2018 | -3.8 |
| H D F C | 1972.05 | 2051.00 | 30/07/2018 | -3.8 |
| Atul | 3472.00 | 3618.00 | 27/11/2018 | -4.0 |
| Punjab Chemicals | 694.75 | 724.90 | 06/08/2018 | -4.2 |
| Guj Fluorochem | 919.00 | 959.00 | 01/11/2017 | -4.2 |
| Info Edg.(India) | 1620.00 | 1695.00 | 04/12/2018 | -4.4 |
| GMM Pfaudler | 1230.00 | 1289.00 | 17/12/2018 | -4.6 |
| Honeywell Auto | 23000.05 | 24178.00 | 20/08/2018 | -4.9 |
| PVR | 1569.85 | 1659.70 | 28/04/2017 | -5.4 |
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