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GAIL, Adani Transmission, Avanti Feeds, Graphite India hit new highs

SI Reporter/Mumbai 03 Oct 17 | 02:32 PM

Adani Transmission, Avanti Feeds, GAIL (India), Graphite India, Bajaj Auto and Bombay Burmah Trading Corporation are among the 14 stocks from the S&P BSE500 and S&P BSE Smallcap index that hit their respective record highs on BSE in intra-day trade on Tuesday.

Ashok Leyland, Cera Sanitaryware, Gillette India, Gujarat Alkalies & Chemicals, Rajesh Exports, Thomas Cook (India), Procter & Gamble Hygiene & Health Care and TVS Motor Company too hit new highs today.

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GAIL (India) was up 4.5% to Rs 438, extending its Friday’s 6% rally, after the Petroleum and Natural Gas Regulatory Board (PNGRB) has proposed consultation on integrated authorization for unified/pooled tariff for all connected pipelines of the company.

Analysts at Elara Capital believe any positive development in this regard would be significant positive for GAIL as its present weighted average transportation tariff is Rs 37.1/mmbtu, and GAIL has requested Rs 68.88/mmbtu pooled tariff for 12% post-tax RoCE returns with inclusion of capex of upcoming Jagdishpur-Haldia-Bokaro-Dhamra pipeline (JHBDPL).

“If most of the GAIL’s recommendations accepted, then GAIL EPS from transmission would improve by Rs 12.7. Every INR10/mmbtu increase in weighted average or pooled tariff improve GAIL EPS by Rs 4.0/share," analysts said in event update and reiterate ‘buy’ rating on stock with target price of Rs 495 per share.

Adani Transmission, too, gained 5% to Rs 161 on BSE on back of two-fold jump in trading volumes. The stock of electric utilities company surge 27% in past five trading sessions, after Prime Minister, on September 25, unveiled a flagship programme  called “Saubhagya — Pradhan Mantri Sahaj Bijli Har Ghar Yojana" to provide power to all households in the country by December 2018.

Edelweiss Securities has initiated coverage on shares of Adani Transmission with a 'buy' rating and net present value (NPV)-based target price of Rs 154, citing likely strong growth ahead. The brokerage expects Adani Transmission to generate robust free cash flow, though it does anticipate high growth and M&A (merger and acquisition) appetite.

Bombay Burmah Trading Corporation hit new high of Rs 1,365, extending its past two months rally post April-June quarter results. The company engaged in tea & coffee business has rallied 57% from Rs 871 on August 3, after the company’s net losses narrowed to Rs 1.69 crore in Q1FY18 from Rs 3.67 crore in a year ago quarter.

COMPANY

LATEST ALL TIME HIGH PREV HIGH PREV DATE ADANI TRANSMISSI 159.00 159.70 156.00 13-Sep-17 ASHOK LEYLAND 122.10 126.15 123.80 29-Sep-17 AVANTI FEEDS 2207.00 2260.00 2175.00 21-Sep-17 BAJAJ AUTO 3165.00 3208.40 3181.00 25-Sep-17 BOMBAY BURMAH 1325.05 1365.00 1338.45 29-Sep-17 CERA SANITARY. 3333.20 3400.00 3290.00 29-Sep-17 GAIL (INDIA) 433.00 438.00 433.50 03-May-17 GILLETTE INDIA 5620.00 5679.00 5656.00 29-Sep-17 GRAPHITE INDIA 404.65 406.95 387.95 20-Sep-17 GUJ ALKALIES 556.00 570.00 570.00 27-Sep-17 P & G HYGIENE 8435.00 8540.00 8517.00 29-Sep-17 RAJESH EXPORTS 821.40 825.00 824.00 29-Sep-17 THOMAS COOK (I) 253.00 257.55 256.90 01-Jun-15 TVS MOTOR CO. 650.25 671.85 666.35 19-Sep-17

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