Broker Radar for December 10

HSBC maintained ‘Buy ‘on Suzlon Energy; cut target price to Rs9.5 from Rs14.

1. Recovery post transition pain has been slower than expected.

2. Slower execution issues are being addressed; strong order book lends two years growth visibility.

3. Cut TP to factor in lower industry volumes.

Nomura says exit polls to give BJP a cold sweat; Set to lose Rajasthan; MP and Chhattisgarh remain nail biters.

1. Generally, state election outcomes have been known to be a poor leading indicator of general elections.

2. BJP’s drubbing to mean that farm unrest is real; increase in MSP haven’t yielded political dividends.

Deutsche Bank Research says there is limited benefit for combined entity of REC-PFC; no material change for REC.

1. See negative impact on capital adequacy, credit rating and funding cost for PFC.

2. Buyout at premium will be negative for PFC shareholders.

Deutsche Bank Research says next year's consumer durables outlook is positively guided

1. September quarter was impacted by high-base, excess inventory and weak season.

2. Positive outlook on domestic projects business with 2-5 year upcycle.

3. Election to have limited one-quarter impact on project business.

4. Voltbek raised capex to Rs1000cr to fund expansion in Tier II/III cities.

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