2/5/2016

CitiResearchincludesRIL,AxisandAurobindoin18AsianstocklistTheEconomicTimes

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CitiResearchincludesRIL,AxisandAurobindoin18Asian
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ByPTI|5Feb,2016,07.57PMIST

NEWDELHI:CitiResearchhasincludedRelianceIndustries,AxisBankandAurobindo
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RelianceIndustries

AxisBank

PharmaastheonlyIndianfirmsinitsexpandedlistof18Asianstockstowatchforin2016.

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"WehaverevisedandexpandedourFocusListfrom13to18stocks,comprisingsixold
namesand12new,"Citisaidinanote.
China'sTencent,PingAnInsuranceandBankofChina,Singapore'sDBSGroupaswellasSouthKoreanSamsungElectronicsandLG
Chemhavebeenretained.
SandsChina,CRLandofChina,Taiwan'sTSMCandLargan,SouthKorea'sAmorePacific,BangkokBank,AyalaofPhilippines,Tenaga
ofMalaysia,andAstraIntlofIndonesiahavebeenincluded.
ThestocksfromIndiaincludedareAxisBank,Reliance,Aurobindo.
"CitiFocusListAsiaThefocuslistshowcasesourregionalanalysts'strongestBuyideasforthenext12months,atimehorizoninline
withourfundamentalratingsystem,"Citisaid.
Thefocuslisthighlightsliquidnamesinwhichinvestorscanreadilybuildpositions,itsaid
CitisaidalmostfiveyearsofunderperformanceofRelianceIndustriesstockisfinallysettoreverseaspretaxorEBITDAwillstartgrowing
afterthreeyearsofsustaineddecline,returnratiosstageagradualturnaroundandproportionof'unproductive'capitalstartscomingoff.
"Someconcernsstillremain,suchasrisingcashbalances,telecom'spotentialforfurthercashburn,andlackofcomfortandclarityonthe
coreprojectexpansions,"itsaid.
OnAurobindoPharma,itsaid,thecompanyiswellplacedtoleverageitslargebackendinfrastructureandproductbasket.
"Strongrevenuegrowthandconsequentlyrisingcapacityutilizationalongwithanimprovingproductmixwoulddrivestrongearnings
growth,inourview.
"TheUSbizmomentumcontinuestosurpriseandthestrongpipelineindicatesthatthemomentumshouldsustainoverthemediumterm,"
Citisaid.
AxisBank,itsaid,isarapidlygrowing,profitable,andcompetitiveprivatesectorbankinIndia.
"However,afteranexplosivegrowthperiodoverthelastfewyears,ithasfacedpressuresonassetquality.Theoperatingenvironment
hasremainedchallenginginrecentmonths,andAxishaswitnessedrisinglevelsofNPLs,restructuredloansandotherformsofstress,"it
said.
http://economictimes.indiatimes.com/articleshow/50869307.cms?prtpage=1

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2/5/2016

CitiResearchincludesRIL,AxisandAurobindoin18AsianstocklistTheEconomicTimes

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