13th Jun 2018 | 14:47 PM IST
13th Jun 2018 | 14:47 PM IST
Admitting its blunders in the last 12 months, research and brokerage firm Ambit Capital has come out with a latest report which includes names such as Radhakrishnan Damani-led Avenue Supermarts, Jubilant Foodworks and Bajaj Finance.Shares of Avenue Supermarts, which runs the D-Mart chain closed at Rs 1,606.1, up by more than 0.7% this afternoon. Admitting its bloopers in the last 12 months, research and brokerage firm Ambit Capital has come out with a latest report which includes names such as Radhakrishnan Damani-led Avenue Supermarts, Jubilant Foodworks and Bajaj Finance. Notably, the firm had a â€˜sell callâ€™ on the shares of D-Mart. The shares crossed the Rs 1 lakh crore market capitalisation yesterday, multiplying investor wealth by more than 5 times in the last 15 months. â€œD-Mart and the missed bus to Indiaâ€™s best grocery retailer: Despite the best pre-IPO research (management said so too!), we initiated with a SELL; the stock is up 35 per cent since then,â€� Ambit Capital said in the note. Shares of Avenue Supermarts, which runs the D-Mart chain closed at Rs 1,606.1, up by more than 0.7% this afternoon. Apart from D-Mart prominent stocks such as Bajaj Finance and Jubilant Foodworks also form part of the list. â€œBajaj Finance and our refusal to learn: It has delivered a 4-year CAGR (compounded annual growth rate) of 70 percent; weâ€™re sellers throughout. Growth at the cost of asset quality thesis is yet to play out,â€� said the firm. Notably, Bajaj Finance shares have risen by more than 150% in the last one year, and closed at Rs 2,263 on BSE this afternoon. Another stellar performer in the last 12 months has been Jubilant Foodworks- India exclusive franchisee of Dominoâ€™s Pizza. â€œJubilant Foodworks and the lowest target price on the street: Stellar same store growth (SSG) growth and margin expansion. The stock gained 175% in 12 months. Confession: It is the best performing stock in our coverage,â€� Ambit Capital said in the release. The firm has got many buy calls wrong too. Featuring in the list of â€˜buysâ€™ gone wrong are the shares of Tata Power, VA Tech Wabag and PI Industries. â€œVA Tech Wabag, DB Corp and Greaves Cotton: Stocks that we love that no one else cares about. Each is down more than 20%,â€� Ambit Capital said in the note. Notably, ace investor Porinju Veliyath had recently pointed out that Va Tech Wabag looks attractive.
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