BSE Code: | NSE Code: | ISIN: | Sector:

NSE
1389.65
Change Change %
-36.00 -2.53%

Updated:23 Oct, 2017, 15:53 PM IST

BSE
1386.00
Change Change %
-36.75 -2.58%

Updated:23 Oct, 2017, 15:45 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
24-08-2017 Buy 1489.45 1770.00
N/A
Open Long (1Y)
24-08-2018

Edelweiss maintains buy on Care Ratings

CARE Ratings' (CARE) Q1FY18 standalone revenue growth of 7.4% YoY came in line (versus 6% and 9% for CRISIL and ICRA ratings segment). Volume of fresh debt rated grew 3.4%, led by strong 12% growth in corporate debt segment, while bank loan ratings segment declined due to continued sluggish environment. EBITDA grew 11% YoY as margin expanded 190bps due to dip in staff costs. On anticipated uptick in corporate bond market, improving macro-economic outlook, higher budgetary allocation to infra & housing segments and boost from government initiatives (eg. high exposure framework), CARE anticipates pick up in credit growth. Thus, we forecast 12% sales CAGR over FY17-19. Maintain 'BUY' with TP of INR1,770 based on DCF valuation.

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