The stock market of India finally ended the bear run on Dalal Street after crashing for nine consecutive trade session on Tuesday. However, this continuous bleed has put some doubt into the minds of bulls who had been following 'buy on dips' strategy thinking overall the market is bullish. But, the brokerage firms have been following the minute details of the listed companies and they have given the following five shares to buy for the share market investors. Those top 5 shares are as follows:

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1] Buy Equitas Holdings Ltd for 32 pct gains, advises Yes Securities
Equitas Holdings delivered a strong performance in the fourth quarter ended March 2019 with RoA further improving to 1.8 per cent. The strong earnings growth of 97 per cent YoY, although on a depressed base, was underpinned by an acceleration in AuM growth and despite mobilisation and a contained opex growth. Overall revenue growth stood at 38 per cent YoYdespite lending spread coming off.

On the suggestion to the stock market investors in regard to the Equitas Holdings shares Rajiv Mehta, Executive Vice President at Yes Securities said, "Fundamentals of the counter suggests an upside momentum for around 32 per cent in 12-month perspective. The counter may touch the Rs 165 per stock levels in this period." Equitas Holdings share price was at Rs 126.5 per stock after the market close on Tuesday.

Another brokerage firm Motilal Oswal has given a target of Rs 160 per stock in the same period for the counter.

2] Buy SBI for 24 pct gains, advises HDFC Securities
Led by high W/Os (around Rs 173bn) and lower slippages (~Rs 80bn, 1.50%), GNPAs dipped ~8% QoQ (Rs 1.72tn, 7.5%). LLPs were ~24% higher QoQ, resulting in a massive ~19% dip in NNPAs (~3%). Calculated coverage jumped ~500bps QoQ to ~62%. SMA I & II nearly halved QoQ to ~36bps, ex-slippages, driven by the upgrade of a large power exposure. Reducing pools of identified stress should reign in near term slippages. We have factored in slippages of 1.80% over FY 19-21E. The glide path is clearer now.

On the suggestion to the stock market investors in regard to the SBI shares Darpin Shah, Analyst at HDFC Securities said, "Fundamentals of the counter suggests an upside momentum for around 24 per cent in the long-term perspective. The counter may touch the Rs 383 per stock levels in this period." SBI share price was at Rs 306.75 per stock after the market close on Tuesday.

3] Buy Parag Milk Foods for 56 pct gains, advises Elara Securities
Parag Milk Foods (PARAG IN) net sales was up 30% YoY at INR 6.7bn, 13% higher than our estimates, led by 71% YoY growth in SMP, 19.4% of sales. VAD (62.7% of sales) grew by 21% YoY, led by 25% YoY volume growth. Liquid milk, 16.3% of sales, grew by 9% YoY. Gross margin shrank by 240bp YoY and 300bp QoQ, due to unfavorable mix as the salience of SMP increased by 460bp to 19.4% and price hikes in response to milk inflation in terms of reduction on discount,  down 400bp YoY, was taken only in March 2019. EBITDA was down 20.7% YoY at INR 437mn, 28% lower than our estimates.

EBITDA margin was contracted 413.7bp YoY to 6.5%, due to gross margin contraction and higher other expenses, which were up 194bp YoY. PAT was up 20% YoY at INR 313mn, 5.8% higher than our estimates, due to higher other income, lower interest cost and tax rate (tax reversal from the previous year).

On the suggestion to the stock market investors in regard to the Parag Milk Foods shares Sagarika Mukherjee, Analyst at Elara Securities said, "Fundamentals of the counter suggests an upside momentum for around 56 per cent in the long-term perspective. The counter may touch the Rs 366 per stock levels in this period." Parag Milk Foods share price was at Rs 240 per stock after the market close on Tuesday.

4] Buy Inox Leisure for 36 pct gains, advises Elara Securities
INOX Leisure reported revenue growth of 48% YoY to INR 4,788mn in Q4FY19, led by healthy growth across all business segments. EBITDA margin surged 680bp YoY to 20.3%, bolstered by strong growth in the high margin ad and F&B segment. Adjusted PAT (excluding the tax write-back effect) shows 10x growth YoY to 440mn on account of better profitability.

On the suggestion to the stock market investors in regard to the Inox Leisure shares Karan Taurani, Analyst at Elara Securities said, "Fundamentals of the counter suggests an upside momentum for around 36 per cent in the long-term perspective. The counter may touch the Rs 420 per stock levels in this period." Inox Leisure share price was at Rs 306 per stock after the market close on Tuesday.

5] Buy Muthoot Finance for 14 pct gains, advises Edelweiss 
Muthoot Finance reported a mixed Q4FY19—growth trajectory improved with a higher spread leading to PAT outperformance, whereas higher opex and rise in GNPLs disappointed. Key highlights: a) After a soft Q3FY19, gold AUM grew >5% QoQ to INR336bn. b) Better yields (stronger collections, lower discounts) along with a steady funding cost lifted NIM >100bps YoY. c) Opex cost rose sharply (up >22% YoY) across line items. d) Volatility in asset quality persisted with stage-3 assets rising to 2.72% (1.96% in Q3FY19). e) Other businesses – home finance, Belstar, insurance broking – are scaling up well, but the current environment posed challenges. Systemic liquidity tightness did not impact Muthoot much, as evident from improved growth momentum and rising share of CP to 18% in H2FY19 (from 12% in H1FY19).

On the suggestion to the stock market investors in regard to the Muthoot Finance shares Kunal Shah, Head BFSI Equity Research, Edelweiss said, "Fundamentals of the counter suggests an upside momentum for around 14 per cent in the mid-term perspective. The counter may touch the Rs 652 per stock levels in this period." Muthoot Finance share price was at Rs 572 per stock after the market close on Tuesday.

Disclaimer: Above shares to buy recommendations are given by the respective brokerage firms and their analysts. Readers shouldn't take these recommendations being from the Zee Business website.