{"id":117662,"date":"2019-04-05T15:32:50","date_gmt":"2019-04-05T15:32:50","guid":{"rendered":"https:\/\/www.bnreport.com\/buy-cesc-target-rs-900-iifl\/"},"modified":"2019-04-05T15:32:50","modified_gmt":"2019-04-05T15:32:50","slug":"buy-cesc-target-rs-900-iifl","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/buy-cesc-target-rs-900-iifl\/","title":{"rendered":"Buy CESC, target Rs 900: IIFL"},"content":{"rendered":"

IIFL<\/a> has a buy call on CESC with a target price of Rs 900. <\/p>\n

The current market price of CESC is Rs 734.95. <\/p>\n

Time period given by the brokerage is one year when CESC price can reach the defined target. <\/p>\n

Investment rationale by the brokerage-<\/strong>
Well placed to capitalise on the DF opportunity: <\/strong>CESC is among the select few companies with rich experience in distribution and is, consequently, well placed to benefit from the growing trend of appointing a distribution franchisee (DF) by SEBs. In the last 2.5 years, CESC has won 4 circles (3 in Rajasthan and 1 in Maharashtra) under the DF model; a few more are likely in the next 18-24 months. Our visit to Kota suggested that by investing only Rs2bn, CESC has lowered T&D losses by 8-10 per cent on an average, via stringent vigilance. As such, consumers seem happy with the improved quality, as infra capacity\/quality is also augmented. The losses are set to fall to 15 per cent in the next 2-3 years, with 3 circles reporting PAT by FY21ii. While profit contribution is relatively low at 3.3 per cent, the resultant FY21ii RoE & RoIC are attractive at 17 per cent & 32 per cent. <\/p>\n

Outlook on other businesses steady:<\/strong> The outlook on each of CESCs other operating segments is steady, with: i) Kolkata registering a low-risk PAT growth of 9 per cent pa; ii) the Haldia (600MW) IPP earning PAT of Rs2.6bn pa; and iii) steady performance of the renewable portfolio. Sustained loss (Rs1bn) at the Chandrapur IPP is the pain point, but not alarming, given the aRead More \u2013 Source<\/strong><\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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IIFL has a buy call on CESC with a target price of Rs 900.
\n..<\/p>\n","protected":false},"author":1,"featured_media":117663,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-117662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nBuy CESC, target Rs 900: IIFL - Business News Report<\/title>\n<meta name=\"description\" content=\"IIFL has a buy call on CESC with a target price of Rs 900. ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/buy-cesc-target-rs-900-iifl\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy CESC, target Rs 900: IIFL - Business News Report\" \/>\n<meta property=\"og:description\" content=\"IIFL has a buy call on CESC with a target price of Rs 900. ..\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/buy-cesc-target-rs-900-iifl\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-05T15:32:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/04\/photo-1-4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1070\" \/>\n\t<meta property=\"og:image:height\" content=\"580\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"infopal11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"infopal11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/\"},\"author\":{\"name\":\"infopal11\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\"},\"headline\":\"Buy CESC, target Rs 900: IIFL\",\"datePublished\":\"2019-04-05T15:32:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/\"},\"wordCount\":277,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/photo-1-4.jpg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/buy-cesc-target-rs-900-iifl\\\/\",\"name\":\"Buy CESC, target Rs 900: IIFL - 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