Indus Towers BROKERAGE BOFA SECURITIES
Price Target: Rs 280 CMP: Rs 240.5 Upside: 16%Vodafone Idea’s potential fund raise for network expansion to be positive for Indus as it will get incremental businessUnless Vodafone clears a large part of its previous dues, Indus may not engage for any new rolloutIf Indus receives its dues (receivables $635 million), it could declare a special dividend – translating into 8-9% of dividend yieldFSN E-Commerce (Nykaa) BROKERAGE UBS Price Target: Rs 210 CMP: Rs 152 Upside: 38% Rate neutral on the stock as Nykaa’s right-to-win in the Fashion segment remains to be proven Management is bullish on overall growth and margin expansion potential Ecommerce B2B business still nascent but has large opportunity; enable company to provide comprehensive offering to global beauty brandsAsian Paints BROKERAGE MACQUARIE Price Target: Rs 4,000 CMP: Rs 2,983 Upside: 34% Retain outperform rating post Grasim’s entry into paints industry given company’s history of effectively defending market shareLeadership position could affect company less than smaller players on account of a new entrant Sharp moderation in demand remains a downside risk to near-term sales growth
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